News
Developers cranked up deliveries in fourth quarter to best 2015 tally, reports JLL Dubai: An estimated 14,600 homes were handed over in Dubai all through last year, a tally much higher than the sub-10,000 units delivered in 2014 and 2015. The 2016 tally is thus the second-highest after 2012’s 16,000 handovers, according to the latest…
City’s Rental Index gets updated with lower rents for high-end locations Dubai: Dubai’s official Rental Index has been updated for 2017, with emerging mid-market locations in Dubailand experiencing sharp increases. But Dubai’s budget-conscious tenants will still have cause for cheer as the rental band in established areas such as International City and Discovery Gardens have…
Nakheel has signed a joint venture with Thailand-based Centara Hotels and Resorts, paving the way for a Dh500 million beachfront resort on its Deira Islands project in Dubai. The developer had first announced a potential tie-up with Centara in October 2015. Nakheel said that the 500-bed resort would be the second to be completed on…
The Dubai retail sector could be facing oversupply, a leading broker has warned. The continued construction of new shop space at a time when many retailers are reporting flat sales could lead to a potential oversupply in the Dubai market, JLL said. The company’s UAE 2016 Year in Review publication stated that 260,000 square metres…
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