Dubai rent index 2017: Two-beds 14% cheaper in Marina, 30% costlier in Arjan

Rents for two-bedroom apartments in majority of freehold areas across Dubai declined or remained stable, according to a comparative analysis of the official rent index for 2016 and 2017. Dubai Marina registered a 14 percent decline in 2017, with rentals for two-bed units starting at $32,672 (AED120,000) to $43,563 (AED160,000) per annum (pa) compared to…

Damac’s Sajwani wants to ‘deepen business ties’ with Trump Organisation

Damac Properties chairman Hussain Sajwani is hoping to “strengthen” his business ties with the Trump Organisation. Dubai-bourse listed developer has commercial ties with the US firm since 2013 when it launched the Trump International Golf Club as part of its $6 billion (AED22 billion) Akoya development in Dubai. In a series of tweets in December…

UAE’s Azizi to press on with new projects after Dubai Land Dep’t talks

UAE-based Azizi Developments on Thursday said it was to press on with plans to launch 50 new developments in 2017, which will comprise residential, commercial and retail space, following talks with Dubai Land Department. The developer said in a statement that it discussed Dubai’s economic situation, the current market conditions and predictions for the upcoming…

Mirdif community comes of age with freehold development

Mirdif Hills is set to become one of the most popular residential communities in Dubai. The freehold mixed-use residential, commercial and retail development promises home owners a wide range of residential, shopping and services options when it is completed. In recent years, reasonable rents and a growing volume of lifestyle amenities, such as supermarkets, schools,…

Bids open for Bahrain’s stalled Marina West project

A bidding process to acquire and complete Bahrain’s largest stalled real estate project, Marina West, has opened, according to local media. Bahrain’s Committee for Stalled Real Estate Projects, which sits within the Justice, Islamic Affairs and Endowments Ministry, announced that interested buyers have until end of January to submit documents proving technical capability, financial position…

Mirdif Hills offers great options and facilities in the heart of Dubai

Mirdif Hills, currently the only freehold project in Mirdif, is a mixed-use residential, commercial and retail development. The development by Dubai Investments Real Estate Company (DIRC), includes 1,054 apartments, a 116-room hotel with 128 serviced apartments, 52 retail outlets and community recreation areas, spread across 3.9 million square feet. Strategically situated adjacent to Mushrif Park,…