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Tepid market pressures UAE’s industrial real estate

Dubai Real estate

Increased competition and a tepid global and national market mean only the UAE’s premier industrial and commercial properties have held their pricing in the first half of 2018, according to a report by international property consultancy Knight Frank. The report notes that the long-term prospects remain sound, with UAE’s industrial sector having grown 31 per…

Paying VAT on commercial property

commercial vat dubai

Since the implementation of the value-added tax (VAT) in January, there have been numerous discussions explaining its effects on real estate. Commercial property transactions, both leases and purchases, are not exempt from VAT and both tenants and purchasers are obliged to pay VAT on either the rent or the purchase price. It is self-explanatory that…

Handovers start for the super-luxe Bvlgari homes in Dubai

Bvlgari Residences

The handover has started for the Bvlgari Residences on Jumeirah Bay, with some of the units representing the costliest transactions made in Dubai last year. The island community comprises 168 apartments, ranging from one- to three-bedroom units, six four-bedroom penthouses, and 15 mansions with three- to six-bedrooms. Some of the units were bought for well…

Rotana signs agreements to manage new hotels in Dubai and Sarajevo

Rotana

Rotana, an Abu Dhabi-based hotel management company, has signed two new hotel management agreements to that it says “further strengthen the company’s presence in the home region and expand its footprint into Europe.” Marking its latest offering in Dubai’s thriving hospitality market, Rotana is now officially managing Cayan Tower, a residential high-rise building in Dubai…