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Bank of America Merrill Lynch showcases Dubai economic recovery

Bank of America Merrill Lynch showcases Dubai economic recovery

Accelerated population increase sees Dubai Department of Economic Development raise growth targets, according to the Bank of America Merrill Lynch Summary Dubai Department of Economic Development targets growth of 4.7% and 5% in 2014 and 2015 Population growth of 5% in 2013 higher than government forecasts of 3.8% Forecasts follow International Monetary Fund’s improved forecast… Read more »

Property asking prices hit record highs again

Property asking prices hit record highs again

Property asking prices are up by an average of 7.3%, although increases in the Capital were more than double that figure, according to Rightmove Summary Annual asking price rises of 15.9% in London, and up 7.3% on a nationwide basis Average property now costing £262,594, according to Rightmove Sellers in London getting an average of… Read more »

Dubai to build Aladdin City complex in Dubai Creek

Dubai to build Aladdin City complex in Dubai Creek

Dubai Municipality has announced that “Aladdin City”, a development inspired by the tales of Aladdin and Sinbad, is to be built in Dubai Creek Summary Aladdin City development takes inspiration from ancient tales of Aladdin and Sinbad Dubai Municipality looking to drive tourism and investment ahead of World Expo 2020 Project features commercial and hotel… Read more »

Q1 sees Dubai real estate transactions reach AED61 billion

Q1 sees Dubai real estate transactions reach AED61 billion

Real estate transactions totalled AED61 billion in 2013, with an 81% increase in investor numbers, according to new official figures Summary Q1 real estate transactions reach AED61 billion, up 38% on 2013 figure for same period Dubai Land Department expects next quarter to be equally as positive 15,694 transactions in Q1 2014, up 11% on… Read more »

Dubai’s foreign trade expected to reach AED4 trillion

Dubai’s foreign trade expected to reach AED4 trillion

Foreign trade in Dubai expected to reach AED4 trillion as a result of hosting World Expo 2020, says chief executive of Dubai Trade Summary CEO of Dubai Trade expects foreign trade to reach AED4 trillion Foreign trade totalling AED1.392 trillion, 30% of Dubai’s GDP Significant infrastructure and development planned ahead of World Expo 2020 International… Read more »

Russian Summit to provide opportunities for potential investors

Russian Summit to provide opportunities for potential investors

Select Property will exhibit at the Global Edge Russian Summit in Moscow on April 9 and 10 to showcase developments in Ras Al Khaimah and Dubai Summary Russian Summit at Korston Hotel and Conference Centre in Moscow hosted by Ai Group Developments in Ras Al Khaimah and Dubai to be main focus of Select Property… Read more »

Number of tenants in severe arrears down by 35%

Number of tenants in severe arrears down by 35%

The number of tenants in the UK’s private renting sector deemed to be in severe arrears has decreased by 35% in the past year, according to new research Summary Tenants in severe arrears drops 35% in past 12 months LSL Property Services’ Tenant Arrears Tracker reveals large decrease 105,000 cases of severe arrears in first… Read more »