Sunday June 7 2009

DUBAI // Just one plot of land out of 25 offerings was sold at an auction held by Sherwoods Real Estate last week, although organisers said they were swamped with requests from potential buyers after the sale looking to strike a discreet deal with vendors.

Sunday June 7 2009

DUBAI // Dubai is expected to release a new set of regulations governing the property industry within weeks, in a move to increase confidence in a sector hit by falling prices and a growing number of disputes between investors and developers.

Thursday June 4 2009

Almost two thirds of those responding to an online poll say they would never buy a property at auction because they would have no real idea of what they were buying.

Thursday June 4 2009

Abu Dhabi-based Hydra Properties, a Royal Group subsidiary, is implementing a restructuring process and may revise some projects to meet current market requirements, Emirates Business can reveal. "We are studying our business model in terms of the new economy. When it was booming, you could build anything. Now you need to study it well," Hydra Properties Chief Executive Officer Sulaiman Al Fahim said.

Thursday June 4 2009

Deyaar will hand over later this month all 470 units at four of its residential projects at Dubai Silicon Oasis, the company said in a statement.

Thursday June 4

DUBAI  Deyaar Development, the Dubai property company, has secured Dh200m from regional investors for a new distressed asset fund that will buy property from buyers who default on their payments.

3rd June 2009

Two former Nakheel employees have been sentenced to three years in prison for their involvement in a AED5.14m ($1.4m) bribe on a property deal in Dubai.

3rd June 2009

Property industry experts on Tuesday said the UAE’s visa plan for expatriate homeowners was key to kick-starting the real estate market.

3rd June 2009

UAE real estate prices showed monthly gains in April and May, suggesting that the property market is bottoming out, HSBC has said.

Tuesday June 2 2009

DUBAI - The global economic crisis, slowdown in the domestic business activity and increase in supply continue to weigh heavily on office rents in Dubai. According to KT-Asteco rental monitor, office rents in the Dubai Financial Centre (DIFC) and its vicinity are faring much better than other locations in the city.