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Dubai Land Department reviews rental law with lawyers

Dubai Land Department (DLD) recently met with the legal community to review and discuss the articles of Law (26) for the year 2007 regarding rental laws.

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UAE’s building projects’ value reaches $228 billion in H1 2017

The combined value of 7,488 active building projects reached US$228 billion (Dh836.76 billion) by June 2017, according to BNC Network, – the largest and most comprehensive project research and intelligence provider in the Middle East and North Africa (MENA) region.

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Large investment projects to boost Dubai’s economic growth to 3.1%

Dubai’s economy is expected to expand further over the next two years after having outperformed global economic growth and defied downward trends that prevailed worldwide in 2016, a top government official said.

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Van Oord picked for Dubai Harbour project

Dutch dredging specialist Van Oord has won a contract on a major waterfront project in Dubai. It has been appointed by Projects Link Contracting to carry out the marine works for the Dubai Harbour.

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RTA executes Dh1 bn road projects

Dubai Government’s Roads and Transport Authority (RTA) has completed 85 per cent of Parallel Roads Improvement Project - Phase 1 (Godolphin District). The two bridges crossing over the Dubai Water Canal had been accomplished and all construction works under this Phase would be completed in the final quarter of 2017.

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Kuwait's real estate sales soar on housing demand

Kuwait's real estate market picked up momentum in May with sales surging to their highest level in 18 months hitting KD289 million ($951 million), up 37 per cent compared to the previous year, according to a report by National Bank of Kuwait (NBK).

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Riyadh real estate market ‘softens in Q2’

The real estate market in the Saudi capital Riyadh continued to 'soften' in the second quarter, with further declines in performance across the office, residential, retail and hotels sectors, according to JLL, one of the world's leading real estate investment and advisory firms.

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Dubai real estate transactions up 25pc in Q1

The Dubai property sector has witnessed solid growth in the first quarter with about 25 per cent increase in overall transactional activity in the real estate sector during the period, said Sultan Butti Bin Mejren, the director general of the Dubai Land Department (DLD).

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Abu Dhabi approves $653m housing loans

The Abu Dhabi government has announced plans to issue new batch of housing loans worth Dh2.4 billion ($653 million) to 1,250 beneficiaries in the emirate as part of its initiative to provide all the necessities of a dignified living and appropriate housing to its citizens, said a report.

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Deyaar H1 profit plunges 60% to Dh67 million

Deyaar Development, one of the UAE’s leading property development and real estate services companies, reported a 60.19 per cent plunge in first half net profits to Dh67 million, down from Dh111.3 million reported for the first half of 2016.

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