Dubai’s ‘flight to quality’ improves rental rates
A recent article by the Gulf News has highlighted the effect of the on-going ‘flight to quality’ currently shaping Dubai’s real estate market. Increasing numbers of tenants are now taking advantage of lower prices to move to more desirable areas of the city. However the most recent development in this process is that people now [...]
Dubai economy to grow by over 5% in 2011
Dubai’s economy is expected to grow by 5% this year according new data from the country. Abdul Rahman Saif Al Ghurair, a prominent industry expert and the chairman of Dubai’s chamber of Commerce and industry said that Dubai’s economic growth could even accelerate to 6% by the end of the year. Dubai’s Chamber of Commerce [...]
Dubai property near Metro stations gain 20% more rental
The on-going evolution of Dubai’s property market has been well documented over the last year as the emirate moves away from speculation driven growth to a more mature, segmented market place. Property prices are now being influenced by what is described as ‘real demand’ and the movement of residents and tenant to higher quality, more [...]
UAE investor confidence surges after IMF growth forecast
The UAE is experiencing a surge in investor confidence provoked by a recent report by the International Monetary Fund (IMF). The IMF upgraded its view of the Gulf Cooperation Countries (GCC) in its 2011 economic growth forecasting impressive growth of 7.8%. Responding to the IMF report which highlighted the GCC’s positive economic outlook, one industry [...]
Dubai developer Emaar announces hospitality revenues up 20%
Emaar Properties, a major Dubai developer with a significant stake in Dubai’s retail and hospitality sector have announced a 20% increase in hospitality revenues in the second quarter of this year. Matthew Green, head of research and consultancy at CB Richard Ellis, a world leading commercial property advisor told Gulf News, “Emaar’s main cash cows [...]