Dubai Real Estate Blog

Trakheesi allows customers to obtain a range of permits to assist with their transactions The Dubai Land Department (DLD), through the Real Estate Regulatory Agency (Rera), has announced the issuance of nearly 500,000 real estate permits for real estate companies through the 'Trakheesi' system. Ali Abdulla Al Ali, director of real estate licensing department at Rera, said: "Achieving this number reflects the overwhelming approval of Trakheesi and the services it provides to customers in an easy, efficient and professional manner. It allows customers to obtain a range of permits to assist with their transactions in the highest degree of transparency and in harmony with the regulations and legislations in this sector." The electronic service systems in Trakheesi are easy to use, allowing for the immediate issuance of all types of permits at any time and without the need to go through Rera. Customers may obtain 15 types of approved real estate permits, includ...

There has been a steady reallocation of funds towards ready properties so far this year With smaller developers exhausting post-handover payment plans and aggressive pricing for under-construction units, the off-plan market remains sluggish. Meanwhile, the larger developers are offering attractive incentives for ready properties. This has resulted in a steady reallocation of funds towards ready properties so far this year. Sports City is the sole apartment cluster to record a net gain in ready property sales during the first eight months of 2018 compared with a year ago - 610 ready units were sold, more than the 525 recorded same period last year. Discovery Gardens and Motor City saw a significant decrease in the number of ready units sold from January to August this year, according to data from GCP-Reidin. "Dubai Sports City is a desirable mid-income community that has been seeing consistent green shoots of recovery this year. High-end ready properties in Dubai Marina ...

It's been a summer of mixed messages for UAE real estate market observers. News dropped at the start of July that Dubai's sector slowed in the first half of the year with the value of deals done falling 16 per cent year on year, according to reports from the Dubai Land Department. Amid this downbeat market news, the UAE government buoyed spirits, announcing a 10-year UAE expat residency visa for professionals and 100 per cent foreign ownership of businesses outside as well as inside free zones. Prominent UAE real estate developers praised the new rules, saying they would stimulate the nation's owner-occupier market. However, following these consumer-friendly policy reforms, the UAE Central Bank announced a raft of new changes in their Amendment to the Regulations Regarding Banks Loans & Other Services Offered to Individual Customers document on June 19, 2018. Amongst a few modest fee reductions on personal loans was a massive home loan fee increase, the tripling o...