Coldwell Banker

Dubai’s real estate deals hit $11.9bn in Q1
Real estate transactions in Dubai reached AED44bn ($11.9bn) in the first quarter of 2013, up 63 percent on the same period last year, according to new figures released by the emirate’s Land Department. The total number of transactions carried...

Dubai Marina loses its appeal as rents fall
Property in Dubai Marina appears to have lost its shine among renters. While average rents have increased across Dubai, they have started to decline in the once hotly contested area. While different analysts have recorded varying degrees of decline,...

UAE winter continues? Scattered rains, mercury down to 18C
Maximum temperature dips to 32degree in UAE; Heavy rains in Saudi. Unstable weather continues in the UAE even after the weekend, which witnessed scattered rainfall. Residents of Dubai and Sharjah wok up to a shiny but ‘cold’ morning on...

Dubai Land Department auctions 11 properties for over Dh85m
The Dubai Land Department (DLD) sold a total of 11 properties for Dh85.69 million at an auction yesterday fetching 11.7 per cent over their base price. A total of 21 properties were on offer at the DLD private property auction yesterday. Of the 13...

Dh150m Dubai Safari next year
The construction work of new Dubai Zoo, now called as Dubai Safari, is going according to plan and will be completed by the end of 2014, officials at the Dubai Municipality said. The Dh150 million park project is right on track and has completed its...

Dubai property in 16-month upswing
Dubai real estate prices and rents witnessed 16th consecutive monthly increase in March, continuing the steady recovery in the sector and highlighting the return of investor confidence in Dubai, says a report by Deutsche Bank. However, despite the...

Springs villas still offered on short-term lease despite Emaar ban
Real estate agents continue to run adverts in local online and print classifieds for short-term leases of villas in Dubai’s popular Springs community despite Emaar Properties warning residents not to engage in the “illegal” activity. “As part of our...

Emaar to launch sales of top-end Dubai homes
Emaar Properties said on Sunday it is launching sales of its top-end Sky Collection homes in Downtown Dubai. Limited luxury residences are part of the Sky Collection, all of them on the highest levels of the 60-storey towers of The Address Residence...

Bunkers, special elevators, crisis teams… Why Burj Khalifa residents aren’t concerned over earthquakes
The UAE experienced tremors from major Iran earthquakes not once but twice in the month of April. Not once did residents have to evacuate Burj Khalifa, the world’s tallest tower. Of course, there was no threat as residents felt only minor tremors....

Tasweek to invest Dh800m this year in UAE
Abu Dhabi-based real estate developer Tasweek currently has $250 million (Dh919 million) worth portfolio of investments spread across the UAE, Malaysia and Morocco and it plans to invest at least Dh800 million in the UAE this year, the company’s...

Up to 44,000 homes projected to come to market this year in Dubai
Major projects readying in Downtown, The Palm, IPMZ and Dubai Silicon Oasis. The Dubai Land Department hasn’t released any figure of expected new units to enter the market this year to date. However, top real estate consultancies in the emirate have...

Flipping starts: Burj Vista units flipped within hours after launch
DLD had urged developers to ‘discourage’ buyers from reselling off plan. Flippers are in action, once again. This time property agents started putting adverts for sale of units in Burj Vista, a luxurious twin-tower project in Downtown Dubai just a...

More rain expected in parts of UAE
Motorists report slow-moving traffic on key roads in Dubai as soft rain falls on the emirates. Dubai: Rain fell in parts of Dubai and the UAE on Sunday morning, with forecasters expecting more rain in the next two days. Motorists reported...

Nakheel net profit rises 36% to Dh491m
Analysts expect Nakheel’s growth to continue in 2013 as it continues to hand over units and market sentiment improves. Dubai: Nakheel reported a 36 per cent increase in its first quarter net profit to Dh491 million, boosted by unit deliveries and...

Dubai landlords must give 90-day notice to tenants for any rent hike
Increase has to be as per the Rera rent calculator: Land Department. A landlord must give a 90-day notice to his tenant if he plans to increase the rent, which has to be based on Real Estate Regulatory Agency’s (Rera) rent index, the Dubai Land...

Real Estate sustainability conference to start in May
Dubai: The Dubai Land Department (DLD) will launch new criteria and certification for the construction of green buildings during the Arab International Sustainable Real Estate conference in May. “The criteria will address all aspects of green...

Dubai Sustainable City off-plan sales starts in July
About 30% of $1b project to be self-funded as construction on residential and commercial areas set to begin in June. Dubai: Off-plan sales for Dubai’s first sustainable city will begin in July, Faris Saeed, chairman and chief executive of Diamond...

Serviced residences offer surefire formula
Dubai: Want a surefire formula for instant marketing success with a real estate launch? Try serviced residences. The recipe is quite straight-forward: work on a design that veers towards a premium look, opt for a location that is constantly on an...

Hundreds in desperate queue for new Emaar project
Despite the fact that Emaar’s latest property development will not go on sale until the morning of Saturday 13 April, the queues outside the Dubai developer’s sales office were already stretching around the block by around midday on...

Increasing rents in Dubai drive tenants towards lower budget homes
Jump of 12.7% recorded between third quarter of 2012 and first quarter of this year. Dubai: Increasing rents in Dubai drove tenants towards lower budget homes, resulting in this segment recording the biggest jump in rent across the market over the...