Tag Archives: dubai
Dubai property prices rise for 16th straight month
Property prices in Dubai increased for a 16th consecutive month in March, a new report has shown.Deutsche Bank confirmed that the average asking price went up by 1.5 per cent on the previous month, which highlights the scale of the recovery within the sector over the past year or so.Property prices have risen by 6.2 per cent so far in 2013 and experts are fully expecting this figure to increase as the year progresses.Although prices are still way down on the peaks seen before the economic downturn in 2008, it is encouraging to see things moving in the right direction.Unsurprisingly, properties in certain parts of the city performed better than others, although there are signs that less fashionable regions are also starting to gain favour among investors. Overall, the average asking price for a villa was up by 1.6 per cent in March month-on-month, while apartments were selling for an extra 1.5 per cent.”The price recovery that started in late 2011 in prime properties is now spreading to second tier communities,” research analyst Athmane Benzerroug commented in the Deutsche Bank report.”Despite new supply, investor confidence remains strong, while main master developers are accelerating project launches.”Indeed, construction firms that were forced to shelve projects when the economy collapsed five years ago are now resurrecting their plans and this is giving investors lots more choice.This is not the only study that has highlighted an upturn in the UAE's real estate markets.Friends Provident International (FPI) recently revealed that investors are feeling increasingly comfortable in Dubai and many people have turned their attention away from safe assets such as gold in favour of pouring their money into property.Matthew Waterfield, FPI's general manager for the Middle East and Africa, said it is no surprise to see Dubai-based buildings selling so well, as this is a trend that had been steadily emerging in previous reports conducted by the company.The First Group can help you find apartments for sale in Dubai Continue reading
Dubai International Airport ‘will remain a top priority’
Ruler of Dubai Sheikh Mohammed bin Rashid Al Maktoum has insisted that the expansion of the city's main airport will continue to remain a priority.The UAE prime minister recently visited the aviation facility and he was happy with the work that has taken place in Terminal 2.Once the new hall opens on April 29th, the state-of-the-art terminal will be capable of accommodating 7.5 million passengers a year.More than 57.6 million people passed through the airport last year and this figure is expected to rise to 66 million in 2013. The overall capacity of the airport has increased to 75 million passengers per year and it is predicted to be the busiest aviation hub on earth in the next few years if current rates of expansion persist.Mr Al Maktoum was quoted by the WAM news agency as saying that Dubai International “represents the face of the country and is the symbol of its culture and progress”.He also paid a visit to the Dubai Airport Free Zone (DAFZA), which continues to attract scores of influential investors.The facility was first established in 1996 as part of the government's plans to move the city towards an investment driven economy and it is now home to more than 1,600 companies from a range of sectors, including freight and logistics, IT and aviation.There are many incentives for firms to set up a base in the DAFZA, as they receive 100 per cent exemption from corporate tax, import and export duty and personal income tax. This perhaps explains why so much money has been poured into the area in the past 17 years.Mr Al Maktoum toured a number of the buildings that have sprung up throughout the free zone and he was clearly very impressed with what he saw.”The success achieved by the DAFZA is a first step forward for more progress in the way of excellence that we thrive,” he added. Continue reading
Japan praises UAE’s pro-investment mileu
Japan praises UAE’s pro-investment mileu Wam / 23 April 2013 UAE Foreign Minister Shaikh Abdullah bin Zayed Al Nahyan met with Japanese Prime Minister Shinzo Abe here on Monday. Shaikh Abdullah conveyed the regards of His Highness Shaikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, and General Shaikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, to the Japanese prime minister. In turn, Abe asked Shaikh Abdullah to convey his regards to Shaikh Mohammed bin Rashid and Gen Shaikh Mohammed bin Zayed, expressing his wish that the UAE would enjoy more progress and prosperity. During the meeting, Shaikh Abdullah stressed the importance of strengthening bilateral relations between the UAE and Japan, and the desire of the leaders of both countries to strengthen and diversify the avenues of cooperation. He expressed his wish that Japan would enjoy more progress and prosperity. On his part, Abe praised the environment for investment provided by the UAE which, he said, had made the country one of the world’s main business hubs and destinations for major international companies. He noted that they use the UAE as a centre from which they launch their operations in other countries in the region. Aber expressed his hope that the UAE would enjoy more success in different fields. The two sides also reviewed the existing ties of cooperation and friendship and ways to reinforce their efforts so as to develop joint economic and trade ties, as well as to encourage investment, advanced industrial projects and other projects in areas of renewable energy and peaceful nuclear energy, which receive proper attention from both countries. The UAE Foreign Minister also met with his Japanese counterpart, Fumio Kishida. During the meeting, the two ministers exchanged views on the progress of cooperation and ways to further develop it in the interests of both countries. They also discussed bilateral relations and ways to enhance them. The two sides also exchanged views on the latest developments at regional and international levels, as well as on a number of issues of mutual interest. Saeed Ali Yousef Al Nowais, UAE Ambassador to Japan, attended the meeting. Continue reading
