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Office rents comes under 5% VAT from January 2018

All non-residential properties, including office rents will be subject to 5 per cent value-added tax (VAT) from January, Federal Tax Authority of the UAE said urging commercial property owners to register for VAT for properties that exceed the value of Dh375,000 a year.

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Union Properties reports Dh45 million loss in Q3, 2017

Union Properties reported Dh45 million net loss in the third quarter ending September 30, 2017, compared to Dh32 million profits in the corresponding period last year.

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New property law to push buyer to pay up on time

His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has issued a new Law No. (19) of 2017 partially amending Law No. (13) of 2008 on Interim Property Registration in Dubai and deals with cases of breaches of sale contracts by the buyer.

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Dubai has 28,600 buildings under construction

The number of buildings under construction in Dubai is about 28,600, covering an area of 551,034,564 square feet, a senior Dubai Government official said.

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Dubai Investments reports 2.35% decline in 9 months net profits to Dh830 million

Dubai Investments, the leading diversified investment company, has reported a 4.8 per cent increase in its net profit to Dh350 million in the quarter ending September 30, 2017, over Dh334 million achieved during the same quarter in the last year.

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