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Friday, February 27, 2009

Why Invest In Dubai?

Why invest in Dubai?

1)Its is being calculated by specialists that the popution of Dubai will increase from 1.6million to 3 million by the year or 2010 which means more population is equaled to more demand.

2)Everyear there are as much as 5 million of trourists visiting Dubai.It is expected that by 2010,the number will increase to 15 million.

3)All real estate development and planning is controlled by government and completed in a timely fashion.There will be more and more projects coming in 2009.

4)Strong support from the government for real estate in Dubai as much as 40 billion USD invested.

5)Dubai is a hub and important financial centre whereby many international companies outsoucing operations in High rental yields on completed and well located properties of between 8 - 15 %per annum.

6)Direct flights from the UK and Ireland which bring convenients to oversea investors.

7)Fast development and expansion of properties growth with high end and luxurious building for tourists.Dubai has more leading hotels
of the world than any other country today.

Sunday, February 22, 2009

Dubai Real Estate Good News

USA homebuilder John Laing Homes,one of the largest private home buildiers in US and a subsidiary of Emmar properties file bankruptcy.The company listed assets of more Dh3.678 billion($1 billion) and debts of $500 to $100 million.The info is stated in the Chapter 11 documents in Bankruptcy Court Delaware.

In the other of the the bad news,there are also new projects to be implemented in the year of 2009 by one of the leading property developers,Deyaar.Markus Giebel,The Chief Executive of Deyaar announced that it will deliver more than 7 projects with more than 1300 units of its diverse project portfolio.The projects will be

1)The Citadel -the commercial tower (Business Bay)

2)Hamilton Residency -residential tower (Business Bay)

3)Madison Residency - the residential project (TECOM)

4)Coral Residence (Dubai Silicon Oasis)

5)Jade Residence (Dubai Silicon Oasis)

6)Ruby Residence (Dubai Silicon Oasis)

7)Saphire Residence (Dubai Silicon Oasis)

Besides the good news,there is another one.Many leading property developers also implemented an easy payment schedule to lighten investors burden too.Chapal,a freehold property developer announced an extension of 1 year for payment schedules to Dubai and Ajman property buyers.It will be easier for investors who invested in Chapal's projects like Emirates City Ajman, Jumeirah Village Dubai,Dubai Sports City, Emirates Lakes Towers (Ajman),Chapal Flora Residences (Ajman).Dawood Al Shirawi organiser of International Property SHow 2009(IPS 2009) has confidence that the RE market will be recovered in 2009 with new regulations.

Sunday, February 15, 2009

Dubai Real Estate News

feb 7

Commercial 2412 AED/sq,FT
Apartment 1803 AED/sq,FT
Villa 1514 AED/sq,FT

Feb 14
Commercial 2283 AED/sq,FT
Apartment 1758 AED/sq,FT
Villa 1365 AED/sq,FT

Emaar properties,one of the Middle East's biggest real estate firms and the developer of the world's tallest tower, Burj Dubai is still looking at future investments in oveseas although suffered from a decline in profits.Emmar will continue with the on going construction but will put a hold on new projects.Emmar suffered losses of 202% in the 4th quarter of 2008 due to a Dh1.77 billion writedown.Emaar recorded a profit of Dh0.9204 billion prior to considering the inventory write down and recorded a profit of Dh6.662 prior to the total inventory write down.A bad result of year 2008 is due to global economy crisis which slowed down the real estate market.RAK properties reported net profits of Dh379 million.The profits decreased 24% from 2007 to 2008.To counter the challenge.RAK plans to withdraw some of its investments in real estate funds and land bank.Hence,ongoing projects can still be continued.

Saturday, February 7, 2009

Economy Crisis Hits Dubai Real Estate Market

Dubai real estate property prices fall by 50% due to lower demand frm buyers.According to reports,the real estate market in Dubai is falling from 20% to 50%.It is predicted by experts that aparment prices will fall by an average of 20% .Individual decline between 10% to 50%.Some how it depends on development.Villa prices will remain stable with an average drop of 10%.United Arab Emirates capital Abu Dhabi suffered a fall of 20% prices since last summer.Qatar suffered a fall of 10%.It has now become a Buyer's market rather than a Seller's market.Buyers have more advantage in negotiating prices.THe property prices will continue to fall for 9 to nine months which resembles a situation in hong kong 11 years ago.The values fell ranging from 20% to 50%.Expert predicted that investors would come back if property becomes more affordable as the asking price now is unsustainable.From international News, projects worth $72.35 billion are in a dilemma causing great lose to pakistani investors.Although there is no official annoucement about projects development on hold from developers,reporters stated that over 50 building projects can be seen in standstill.Real Estate projects worth $3.275billion has confirmed to to be cancelled.If this crisis continues,job losses will increase in constrution field which will worsen the situation.Following day,news said that the real extent of the halt in developments in Dubai has been revealed by an international bank which estimates that projects worth £53 billion have now been put on hold.According to HSBC 59 projects have been severely affected by the global downturn and of these eight have been cancelled and the rest put on hold.In a report note the banks says that high end residential projects and commercial developments are those at most risk in the current economic conditions.Hopefully good news will come in coming months.
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