Dubai property sales on an upswing, despite Covid-19 woes, Dubai's iconic skyline welcomes 12 new skyscrapers, Covid-19 vaccine, Expo 2020 to drive recovery in UAE property sector, Dubai realty set to stage a rebound this year, Sobha Realty reports doubled villa sales in H2 2020, NRIs seeking 'home' run in favourable real estate sector, Avoid 'dumping' properties in 2021: Damac chairman, Floating villas in Dubai: Four-fold increase in prices, GCC realty market set to stabilise in 2021, New Dubai timeshare law to protect residents from scams: Experts, Sheikh Mohammed issues new Dubai law on unfinished and cancelled real estate projects, Empower eyes overseas expansion as profit surges to Dh901million, Great opportunities for UAE-US collaboration in energy sector, Emirates NBD rings market-opening bell at Nasdaq Dubai to celebrate $750m bond listing, FAB to buy Egyptian business of Lebanon’s Bank Audi, Opec cautiously optimistic of market recovery, seeks to bolster ties with US, IEA cuts global oil demand forecast on Covid resurgence, India’s budget seen raising import duties by 5%-10% on dozens of items, Sensex, Nifty edge up on positive global markets after Yellen boost, Asian markets set for modest upswing after gains on Wall Street, Telecom stocks power UAE gains; Saudi declines, Trump lifts tariffs on aluminium imports from UAE, DFM inaugurates Reits trading with the listing of Al Mal Capital Reit, Fiat Chrysler and PSA seal merger to become Stellantis, Tesla finally enters India, first stop is Bengaluru, Video: GM unveils futuristic flying Cadillac vehicle. Want more construction news and views from the Middle East? Dubai real estate Blogs, Comments and Archive News on Economictimes.com “With expats making up over 80 per cent of the overall population, this move will not only help create a sense of security, but will also impact real estate in a positive manner and hugely benefit other sectors like healthcare, tourism, retail, entertainment in the long run.”. One of the highlights of Dubai real estate news was the launch of the retirement visa, which is expected to boost the local property sector, too In September 2020, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President of the UAE and Ruler of Dubai, announced the launch of the ‘Retire in Dubai’ programme for retired expats over the age of 55 years. Investors remain optimistic, however. The property is a booming business in the Middle East read all the latest news on the real estate industry whether you want to buy/ sell or rent a property in the Middle East region including Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and UAE. real estate Dubai property sales top $5.99bln in Q4 2020 Rental Market And Its Trends In Dubai. The first property news in Dubai for January 2020 was the new DIFC law on property leasing, enacted by His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President of the UAE and Ruler of Dubai. Tuscany's Luxury Housing Market on Firmer Footing in 2019. In 2020, it had delivered 3,000 units as buyers switch from offplan to ready. A view of DAMAC Properties Dubai Luxury Real Estate in Dubai, United Arab Emirates. With limited supply in established communities, and real estate demand on the rise in Dubai, home prices are beginning to pick up, although a market-wide increase in capital values could still be some years away. Save job. DUBAI: S&P Global, the ratings agency, painted a grim picture for the real estate sector in Dubai, with a meaningful recovery in property prices expected only after 2022. However, transactions for the year to September 2020 are down 16.5 per cent compared to the same period a year earlier. The largest deal in 2020 was conducted in Zahya District in the Eastern Sector. Although business conditions in the non-oil private sector have deteriorated again in the third quarter, the IMF expects real GDP to grow 1.3 per cent in 2021 following a 6.6 per cent contraction this year. Dubai Registered 23,652 real estate transactions with a total value of 41.8 AED Billion till the end of August 2019. “In this regard, the [recent] new personal freedom laws are expected to have a significant impact. Your search results. Conservative estimates peg capital appreciation in Dubai’s residential market to take at least three years.”. DUBAI: Dubai property prices fell 0.9% year on year in the third quarter after they were little changed in the previous quarter, a UAE central bank report said. One of the major concerns of investors is getting information about new projects and developers. Dubai's top areas for house sales and rents: The real estate industry in Dubai is showing some new trends this year. Dubai: Investments in projects under development will never exceed the 25 per cent mark, according to the Dubai real estate fund operator Al Mal Capital REIT. To find out more about the cookies and data we use, please check out our, Dear Reader, please register to read gulfnews.com, Password should have minimum 7 characters with at least one letter and number, Keith J Fernandez, Special to Property Weekly, Now talk to your writer to create your CV, ADQ, Aldar Porperties partner up for capital projects, Jack Ma emerges for first time since crackdown on Ant, FedEx to lay off up to 6,300 workers in Europe, Emirates drops rates to Karachi, Cairo in new offer, Gulf Air could be on RAK Airport's radar shortly, Dubai homebuyers make full use of five-year price lows, UAE telecom giants raise foreign ownership limits, Saudi Arabia: Wild or not? The residential market recorded increased secondary market transaction activity, supported by significantly lower buying costs and government-led initiatives. 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