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Aldar Properties said it has found buyers for the first two towers of The Bridges development, which the company started marketing at Cityscape Abu Dhabi last month. It said it had received initial payments for all 424 off-plan apartments at the proposed mid-market development on Reem Island, with queues of buyers lining up to buy…
Developer set to award a further Dh4b worth of contracts in second quarter DUBAI: Nakheel on Wednesday announced net profits of Dh1.48 billion for the first quarter of 2017. That’s marginally higher than the same period last year (2016), when it announced a net of Dh1.47 billion. Nakheel said the latest figures were in line…
More developers willing to mix up location options as short-stay market takes hold Dubai’s real estate market has always been partial to hotel/serviced apartments. Any well-established cluster within key central points of the city has had developers targeting investors with such offerings. Now, the momentum is taking developers to locations further out. “We have found…
How a new tax regime will affect UAE property transactions As the 5 per cent GGC-wide value-added tax (VAT) comes into force in the UAE next year, its impact on residential property transactions is likely to be minimal, although commercial real estate transactions may attract VAT. “We don’t expect VAT to be raised on sales…
Owning a home is a keystone of wealth… both financial affluence and emotional security.