RERA will allow homeowners to manage buildings alone

UAE-based newspaper reports that Interim homeowners associations will be able to open and operate bank accounts in the next few months with the Real Estate Regulatory Agency (Rera) set to ink memorandum of understandings (MoUs) with three local banks. Read more

Smart Home: Future of Real Estate in UAE

Cityscape Abu Dhabi 2012 to showcase brand new Smart Home applications

Etisalat is one of the first telecommunication companies to provide Smart Home solutions in the region

Smart Home technology is deployed as standard across the Al Reem Island Project in Abu Dhabi, which is the first ‘smart community’ in the UAE.

In 2012, during the Cityscape Abu Dhabi, UT Technology, a subsidiary of Etisalat will showcase a model smart home which was designed for Al Reem Island. Evenutally Al Reem Island will contain more than 300 smart buildings. Read more

Dubai Real Estate Market Overview, Q4 2011

• Law no 13 of 2011 was announced with the aim of regulating economic activity and connecting government departments under a single portal in order to streamline commercial activity and investment in the Emirate.
• Prime office lease rates remained unchanged for the fourth straight quarter with rates ranging between AED1,080 to 1,940/sqm/pa;
•  Secondary office locations have seen a 11% drop in lease rates year on year.
• The residential market remained stable during the quarter with average lease rates for residential apartments dropping marginally by 2%, while villa rates remained unchanged. Read more

Dubai owners overprice villa properties

The real estate market in Dubai has been growing steadily over the past twelve months resulting in price rises within established villa communities such as Arabian Ranches, Meadows and Springs.

Recent data from the propertyfinder.ae Q4 report shows that despite strong growth, villa owners in these communities run the risk of over pricing their properties, missing out on potential buyers and tenants. Read more

RERA approves Oceana community service charge

Asteco Property Management has reported that Dubai’s Real Estate Regulatory Authority (RERA) has approved the 2012 service charge budget for Oceana residential and resort community on The Palm Jumeirah, Dubai. Read more

Global Outlook for Real Estate remains unclear

Macro-economic and political landscape uncertainty suggests that a cautious outlook for commercial real estate is likely to persist into 2012, according to a new report from CBRE Global Research. The Global ViewPoint for 2012 notes that high quality real estate assets in prime locations should continue to perform well compared to secondary real estate and very competitive with regard to other asset classes. Read more

Property investors eye Europe for bargain deals

• Annual Investment Turnover 4% Higher Than 2010
• Exceptional Final Quarter for French Property Investment

With the eurozone economy looking increasingly fragile and the single European currency depreciating in value against most major foreign currencies and the U.S. dollar, activity among property investors looking to take advantage of favourable conditions increased. Read more

Abu Dhabi Real estate transactions top AED 43b in 2011

The Real estate transactions processed by the Municipality of Abu Dhabi City have shown signs of remarkable activities in 2011, with obvious contrasts between the size of mortgage and selling transactions.

Selling and mortgage transactions carried out during the period from 1 January up to 30 December posted AED 42,901,462,451, of which land sales constituted AED 3,773,582,451 and mortgage transactions valued AED 39,127,880,000. Read more

Top Trends for UAE Real Estate in 2012

Jones Lang LaSalle (JLL), a real estate investment and advisory firm, today released its ‘Top Trends for UAE Real Estate in 2012’.

Alan Robertson, CEO, Jones Lang LaSalle MENA said: “2011 was a difficult year for real estate investors with most sectors of the market moving in the favour of tenants, with lower prices and rentals. While these trends appear likely to continue into 2012, the main trend for this year is likely to be an increasing polarisation within each sector of the market. As the performance of the best quality projects will improve, average prices are expected to decline further in 2012 within this increasingly two tier market. Read more

Vegas-style entertainment complex to be built on Shaikh Zayed Road

The Al Habtoor Group launched one of the region’s biggest and most luxurious hotels ‘&’ entertainment development that will be built in a prime location on Sheikh Zayed Road.

This magnificent new complex will be built on the one million square foot property opposite Al Safa Park that currently houses one of Dubai’s first hotels. The 34-year-old Metropolitan Hotel, which now stands on this choice location, will be demolished to make way for the new undertaking. Read more

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