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Freezing launches no solution for Dubai property

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Image used for illustrative purpose only Instead, developers need to rework their sales and pricing strategies, says MAG chief   Dubai: It makes no sense to keep talking about oversupply in Dubai’s property market to the newly created Higher Committee, set up to come up with a plan for the longer term future of the sector. That’s according to Talal Al Gaddah, CEO of MAG Lifestyle Development. And he’s got plenty of reasons why this […]

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Dream home in Dubai? Check your options

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For those wanting to invest in a property in Dubai, now may be the perfect time to do so.   The right place and the right time are the two most critical factors to consider before making a real estate investment. At some point in our lives, we all think of buying property. While some look for inspiring spaces where they can live fulfilling lives with their loved ones, others seek properties that add value […]

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Dubai developers no longer allowed to collect service charges from property owners

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New Law comes into effect removing developers from setting charges or collecting funds.   Developers in Dubai have only a month left to start invoicing all service charges on ready properties through the Dubai Land Department’s “Mollak” electronic records Dubai: Developers in Dubai have only a month left to start invoicing all service charges on ready properties through the Dubai Land Department’s “Mollak” electronic records. In other words, what this means is they can no […]

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Dubai property price decline to slow in 2020

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Property prices in Dubai are expected to drop 11.3 per cent on average this year, but the slide is expected to slow down in 2020 and the market will see five to seven per cent correction as demand rises, latest data shows. With market hitting nearly seven-year low after shedding 23.4 per cent of value in past five years, industry executives and analysts believe that Dubai property has emerged as a mature market. They said […]

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No rent hike for three years in Dubai, draft law proposes

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It is also proposed that the owner or his representatives cannot receive commission or any other fee from the tenant. A new draft rental law has proposed that rents of apartments in Dubai should be fixed for the first three years of signing the contract. It is also proposed that the owner or his representatives cannot receive commission or any other fee from the tenant to cover administrative or any other cost while signing or […]

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