Coldwell Banker

Financial experts discuss emerging markets’ role in global growth
Dubai: The inaugural Menasa Forum, a high-level finance and business conference focused on the Middle East, North Africa and South Asia (Menasa) region hosted by the Dubai International Financial Centre (DIFC) opened Sunday with the participation of...

UAE’s economic recovery on track
Dubai: The UAE’s economic recovery has started gaining momentum and its real gross domestic product (GDP) is expected to grow two per cent this year and 2.7 per cent in 2011, the Institute of International Finance (IIF) said...

Handing over of MAG 218 tower in Marina begins
Handover of MAG Properties’ Dh450-million MAG 218 tower in Dubai Marina has begun, according to a top official of the company. Mohammed Nimer, CEO, MAG Group Property Development, said: “We have maintained a consistent vision,...

Nakheel will repay latest debt on time
Nakheel will repay Dh3.6 billion (US$980.1 million) owed to bondholders on time tomorrow as the Palm islands developer pushes to seal a deal with hundreds of trade creditors. Dubai World, which is in talks to revise terms and extend maturities on...

Dubai in first property price rise since 2008
Property prices in Dubai rose an average of 2 per cent in the first quarter of this year from the same period last year, marking the first year-on-year increase since the emirate’s property bubble burst in late 2008, according to Colliers...

Tenant movement slows as Dubai rents stabilise
There has been a decline in people moving from Sharjah and other emirates to Dubai as the rental market here is stabilising, say real estate agents. This was more of a trend last year as rents across Dubai fell substantially and residents from...

Cost main driver of tenant exodus
Ian Albert, regional director of Colliers, says the UAE capital is no different. “When you look at the Abu Dhabi market, we’ve got an oversupply of office space coming up. We have an undersupply of residential and yet rates are falling....

Emaar targets defaults
Emaar Properties has started proceedings to seize properties from buyers who have defaulted on payments for flats in Dubai Marina. The country’s biggest developer is sending letters to owners saying 40 per cent of the amount they have paid so...

UAE realty sector matures
The still-lingering global downturn has resulted in the UAE real estate market becoming maturer, with several things happening simultaneously – stiffer regulations, speculators’ exit and a growing interest from serious investors with long-term...

Qatar Holding buys London’s Harrods for $2.2 billion
Dubai: Qatar Holding said yesterday it had bought the prestigious London department store Harrods from Egyptian tycoon Mohammad Al Fayed. The sale transaction is “somewhere around £1.5 billion [Dh8.51 billion]”, a source close to the...

Realty owners ’should use preventive maintenance’
Landmark Property Management (LPM), a division of Landmark Properties, is urging property owners in the UAE to consider having a preventive maintenance strategy in place in order to extend the life and value of their home or investment. “Both...

No increase in deposit fee for new sales: Nakheel
Master developer Nakheel is continuing consolidating its project portfolio while denying any hike in non-refundable deposit amount for new sales reservation contracts, a company spokesperson said. “We haven’t changed our policies on...

Union Properties earnings zoom on MotorCity sales
Dubai : Union Properties, Dubai’s third-biggest developer by market value, said first-quarter profit rose 67 per cent on increased revenue from the handover of properties in its MotorCity project. Net income climbed to Dh50 million from Dh30...

Asian and European FIIs target Dubai realty
In what is bound to be a major boost for Dubai’s real estate sector, foreign institutional investors (FII) from Asia and Europe have begun showing interest in making big-ticket investments in the emirate’s realty sector. “What we...

Ultra luxury now has a new address
With the world’s first Armani Hotel opening, the $1.5 billion (Dh5.5bn) Burj Khalifa, the world’s tallest tower housing this designer hotel, is 90 per cent open, according to Emaar Properties Chairman. “The Burj Khalifa tower is...

Consolidation is key for the real estate sector
Consolidation and restructuring will lead to a more balanced and mature property market in Dubai with strong long-term prospects, Jones Lang LaSalle (JLL) said yesterday. The consultancy said in its global perspective report said that the Dubai...

Nakheel clients welcome settlement
A top legal firm in the UAE has confirmed to Emirates Business that a number of its clients have been contacted by Nakheel to sign settlement agreements presented last week. “It is a positive move because now there is something tangible for...

Emaar spike perks up Dubai
Dubai’s market rallied on good news coming out of Emaar Properties yesterday. “Emaar results have certainly impressed investors, especially its diversified revenue stream from hospitality and retail sources,” said Wadah al Taha, a market analyst in...

Schön starts phased payment plan
Schön Properties has announced the launch of a construction-linked payment plan, which has been approved by the Real Estate Regulatory Agency (Rera) for the Dh3 billion Dubai Lagoon project in Dubai Investment Park (DIP). The newly-introduced scheme...

Warehouse rents in Abu Dhabi drop up to 40%
Abu Dhabi warehouse rents are down by as much as 20 to 40 per cent from their peak in 2008, according to a new report by the real advisory firm DTZ. “The bull run that the global markets enjoyed up until Q3 2008 saw the Abu Dhabi warehouse...