DED launches Buyer Protection Programme to promote trade with India

To improve Dubai’s bilateral trade relations with India and protect the interests of traders who import products from Dubai Emirate, the Department of Economic Development, DED, has launched a ‘Buyer Protection Programme.’ Dubai Exports, the depatment’s promotion agency, launched the initiative, designed by the Commercial Compliance and Consumer Protection, CCCP, sector in DED, as a…

Prices of Trump-branded projects in Dubai fell 7% in 2016, say consultants

Prices of properties in Damac’s Akoya development in Dubai, which includes US President Donald Trump-branded luxury villas, have fallen by up to 7 percent in 2016, according to local property consultants. Earlier this month, Damac Properties chairman Hussain Sajwani, who was lavishly praised by Trump at his New Year’s Eve party, said he wanted to…

Dubai developers ‘unlikely’ to deliver on 2017 handover pledges

Propertyfinder Group, the UAE-based real estate search portal, expects unit handovers in Dubai this year to be significantly lower than developers’ official projections. The company said that while this may not be welcome news for off-plan investors hoping to soon pick up their keys, a more protracted handover schedule is better for market stability. “As…

Dubai property brokers earn $410m in commissions in 2016

Real estate brokers in Dubai made total commissions of AED1.5 billion during 2016 from nearly 33,000 transactions, according to Dubai Land Department (DLD). Tha authority said Dubai has 5,933 active brokers and 2,285 registered brokerage offices, adding that the commission represented two percent of the total value of recorded deals. DLD’s report revealed that UAE…

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…