Dubai Properties gets ISO certification for real estate

Dubai Properties Group (DPG), one of the largest fully integrated and community development businesses in Dubai, has been awarded for its provision of real estate development, leasing, sales, property management, and facility management, with the prestigious ISO 22301:2012 certification.

Omniyat to receive Dh325mn Islamic financing facility

Abu Dhabi Islamic Bank (ADIB) has acted as the Bookrunner, Underwriter and along with Arab African International Bank (AAIB) as Mandated Lead Arrangers for an Dh325 million Islamic financing facility for Dubai based property developer Omniyat.

Abu Dhabi Hyperloop plan gets more fund

The hyperloop plan that intends to connect the emirates of Abu Dhabi and Al Ain gets additional funding through a partnership

Dubai holds trial run for smart traffic signal

Dubai’s Road and Transport Authority (RTA) conducts a trial run for smart traffic lights that are sensor-enabled aimed at reducing run-over accidents.

Innovation drive spurs growth in office sector – Cluttons

The government’s innovation drive and desire to position the city as the regions’ leading tech hub has triggered the growth in office sector demand, according to international real estate consultancy firm, Clutons

Land deals decline 2.99% to Dh259 billion

The total value of land transaction declined marginally by 2.99 per cent to Dh259 billion in 2016, down from Dh267 billion recorded in 2015, and 18.8 per cent up from Dh218 billion recorded in 2014, according to Dubai Land Department (DLD) reports.

14000 homes delivered in 2016

Approximately 14,600 homes were handed over in Dubai all through last year which is the second highest after 2012’s 16000 handovers, according to the latest UAE real estate update issued by the global consultancy JLL.

Building materials price hike could affect property prices

An increase in building materials price could push up the prices of apartments, villas and office space, if not contained in the next few months.

DEWA inaugurates new substation

Dubai Electricity and Water Authority (DEWA), in collaboration with Meraas Holding, has inaugurated a new 132/11 kV substation with a total capacity of 150 Megavolt Amperes at Al Quoz 4, to meet the increasing demand for electricity.

No rent relief for Dubai’s residents

Tenants in Dubai are not going to get much to cheer about their rents this year, mostly if they are living outside of the city’s freehold communities. Rents, it seems, have become so immune to a soft economy, continuing job losses in key sectors and the fact that more homes are being delivered in the freehold zones.