Month: November 2006

Boom time for property mortgages

The property mortgage market in Dubai is expected to touch Dh17.5 billion by 2007, according to officials. The emirate’s home finance sector has recorded a 64 per cent increase in one year, touching Dh11.5 billion this year, up from Dh7 billion last year, according to Adel Al Shirawi, CEO of Tamweel. With a start-up figure… Read more »

Property mortgage market flourishing in Dubai

The Dubai property mortgage market is having a booming business as it is expected to touch Dh17.5 billion by 2007. The home finance sector has seen an increase of 64% in one year from Dh7 million to Dh11.5 million. Adel Al Shirawi, CEO of Tamweel, leading home financier in Dubai, speaking as a panel member… Read more »

New realty rules will build trust

Taking effect in the first quarter of 2007, officials at Dubai Land Department have reported three new additions to Dubai’s property law. Since the property law was issued, allowing non-UAE nationals the chance to own freehold land, experts have protested for a series of sweeping sub-laws. The Land Department has stated that a condominium law… Read more »

Freehold guide may clarify law

To assist buyers and clear any confusion over buying and registering land in Dubai, The Land Department has released a freehold guide, outlining an addition of specific zones where non-UAE residents can own freehold homes. This much needed Freehold Property Guide includes a full list and map of the designated freehold areas and also provides… Read more »

New Dubai Marina Development Comes With Purchase Protection

Three Tower Marina Project Launched with Escrow Account Dubai Select, a specialist developer of luxury investment property in the Emirate state, has become the first property company in Dubai to offer its customers the security of an escrow account, giving purchasers full protection of their funds throughout the construction period. The account is being launched… Read more »