Property
sales transactions in Dubai surged 88.37 per cent annually in
the first 11 months of 2021 as the UAE’s economy charted a strong recovery from
the coronavirus pandemic-induced slowdown.
The emirate registered 55,640 sales deals worth Dh135.4
billion ($36.86bn) from January to November, making it the best year in terms
of total sales since 2014, according to the latest data by the Dubai Land
Department.
Expo 2020 Dubai, new measures by the government,
including the expansion of the golden visa scheme and visas for retirees, and
the roll out of mass inoculations are supporting Dubai’s property market.
In November alone, total transactions jumped 80 per cent
annually to Dh17.95bn, the data shows.
Expo
2020 “may have had ripple effects on the Dubai real estate market as November
2021 showed the highest monthly sales figures in eight years”, the DLD said.
Expo 2020, which started on October 1, recorded more than
6.3 million visits up to December 13, according to official data.
Meanwhile, Moasher, Dubai’s official monthly house price
index rose 2.12 per cent when compared with the previous month, according to
the DLD. The index was introduced last year to provide consumers with updated
property sales price insights in the emirate on a monthly basis.
Dubai is one the least complex city to allot where everything is
there on the doorstep, this is frequently why Shaikhani Group put away their
cash, and that they do have various tasks which are effectively in measure.
Shaikhani bunch attempts to search out the least difficult arrangements with
great extravagances thusly the client can partake in every one of the
extravagances at full Shaikhani bunch as of now handover few ventures in Dubai
worth of numerous dirhams, they generally accomplish their objective on time
which gives the positive indication of their advancement. Before long they're
going to handover gardenia residency which is found in Jumeirah town circle,
it's been relied upon they're going to handover this venture by the highest
point of 2021 or considerably prior relies upon the functioning conditions and
climate
As the pandemic
circumstance is that the most exceedingly terrible inside the entire world,
things are truly hard to delineated in light of the fact that during the
present circumstance we've to be exceptionally cautious playing it safe to
frame sure to not place work's life in peril since this work needs huge loads
of labor and gratitude to pandemic we've to deal with the 6-foot hole, so what
we've given our work excellent gear to shape sure work doesn't think twice
about clients will get their condos on time very 1000 units handover inside the
activities of Cambridge business focus, champions tower 1 and Frankfurt sports
tower which is worth of 700 million dirham roughly 600 units are to be finished
soon inside one year in Champions tower 3, Gardenia 1 and a few around esteem
300 Million dirham will be convey
Transactions in 11 months reach Dh135.4 billion; Expo 2020 Dubai continues to have a positive impact on different sectors of Dubai.
Property transactions in November 2021 reached 7,000 in volume and Dh17.96 billion in value, making it the best November on record since the government started publishing data publicly eight years ago.
According to data published by Property Finder, the total of sales transactions reached 55,651 worth Dh135.4 billion in the first 11 months, which is 88.39 per cent more than 2020 as a whole and is already the highest yearly sales figure since 2014.
Looking at overall transactions, total transaction value increased by 36.9 per cent and volume increased by 30.8 per cent compared to October. Off-plan value and volume increased by more than 50 per cent month-on-month and secondary volume increased by more than 17.4 per cent and value increased by 27.6 per cent.
Since the beginning of the Expo 2020 on October 1, Dubai has recorded 12,352 real estate sales transactions worth Dh31.08 billion. This included 7,000 secondary/ready sales transactions worth Dh19.84 billion and 5,352 off-plan sales transactions worth Dh11.24 billion.
“The sales trends continue to thrive month-on-month and it’s interesting to note that November 2021 had the highest amount of sales transactions since Expo 2020 was announced in December 2013. The question on everyone’s mind is are we starting to see the effects of Expo2020 in the real estate market and the trends are giving us the answers,” said Lynnette Sacchetto, director of research and data at Property Finder.
“It is also interesting to note that 2021 to-date had the highest off-plan value since 2009 which was the peak for off-plan sales in Dubai. The data clearly shows that investors and consumers are confident in Dubai’s future which is reinforced by proactive government initiatives, attractive real estate projects and the vision of the City,” Sacchetto added.
Shaikhani Group explained, Dubai is known via way of means of doing matters on the proper time, they arrive up with the ones thoughts in which humans assume it is impossible, whilst in the past Dubai changed into a desert, now no one can say this changed into a desert. People want to go to Dubai for vacations due to the fact all centers are there inclusive of protection which can be a primary necessity of existence.
Dubai is one the most effective town to degree in which the whole thing is offered at the doorstep, that is frequently why Shaikhani Group invested their money, and they do have one of a kind tasks that are efficiently in process. Shaikhani organization attempts to are looking for out the most effective offers with exact luxuries consequently the client can revel in all of the luxuries at complete Shaikhani organization has already handover some tasks in Dubai really well worth of many dirhams, they usually attain their goal on time which indicates the fantastic signal in their progress. Soon they are going to handover gardenia residency that's discovered in Jumeirah village circle, it is been predicted they are going handy over this task via way of means of the pinnacle of 2021 or maybe in advance relies upon at the operating situations and environment
As the pandemic scenario is that the worst in the complete world, matters are truly hard to map out due to the fact at some point of this example we have got to be very cautious taking more protection precautions to shape certain to now no longer placed labor’s existence in chance due to the fact this paintings desires heaps of manpower and way to pandemic we have got to attend to the 6-foot gap, so what we have got furnished our labour great device to shape certain paintings would not compromise and clients gets their flats on time pretty one thousand gadgets handover in the tasks of Cambridge commercial enterprise center, champions tower 1 and Frankfurt sports activities tower that's really well worth of seven hundred million dirhams about six hundred gadgets are to be finished quickly inside three hundred and sixty five days in Champions tower 3, Gardenia 1 and multiple approximate price three hundred Million dirhams are going to be delivered
Dubai: For
anyone planning to book a holiday home in Dubai during the second-half of
December, here’s a word of advice – Do It Fast. That’s because short-stay or
holiday home rentals are recording almost overnight gains and could be touching
record highs ahead of New Year’s Eve.
“Everyone in the world seem to have
decided they will spend New Year in Dubai,” said an owner of multiple luxury properties
available for shorty-stays. “At least, even with the steep rates being asked,
property owners and management companies are getting instant bookings.”
The build-up in demand and rates are
already being felt. Apartments that were fetching Dh150 a night in summer are
now listing at Dh800. “I have a studio at DIFC that’s now at Dh615 a night –
and for the New Year it’s Dh1,822.”
Out on the Palm, short-stay rentals
closer to end of the year could soar past Dh2,500 and well over. Some in the
industry feel, rates could push into record territory for properties with a
sea-view or closer to where the New Year’s Eve attractions are being held. The
message is clear – holiday homes in Dubai are back to making money and quite a
lot of it at that.
Message for investors
Mark Castley, Sales Director at
LuxuryProperty.com, believes that this is an ideal opportunity for investors to
expand their Dubai portfolios and “capitalize on the returns provided by
short-term rentals. “Right now, holidaymakers and tourists are drawn to
short-term rental contracts, as a furnished home gives them complete privacy,
extra space, easy access to transportation links and a thriving community where
they can interact with others,” he said. “This makes an attractive proposition
for homeowners who can receive a stable source of income without any hassle.”
Boom phase
Airline industry sources confirm
that December will be an “exceptionally busy” month this year, with the
Expo-created demand adding another layer to add to the tourist arrivals. But
Castley says the current surge is much more than that.
Sure, “Demand has primarily been
fuelled by tourists and visitors coming for Expo 2020, but also by expats who
want a chance to immerse themselves in the city before making a longer
commitment,” he said. “Communities located a short distance away from Expo such
as Jumeirah Golf Estates, Mudon and Town Square are quite highly sought after
and very much of the moment.
“However, there are also the
‘evergreen’ communities of Dubai, the ones that are always in demand no matter
what the occasion – Palm Jumeirah, Dubai Marina and Jumeirah Beach Residence.
Demand in these areas is particularly high over the winter season, and
especially close to New Year’s.
Landlords will be convinced
All of this sounds far removed from
the uncertainty that shrouded the holiday-home market nearly all through last
year, except for a pickup in December. The pandemic’s impact did have many
property owners thinking whether they should exit the short-stay rental space
and just opt for the surety of long-term lets. Those doubts were cleared by the
time the Expo got going on October 1.
Even ahead of the opening day, the
booking enquiries were building up nicely. Anna Skigin, CEO of Frank Porter,
provides an update: “Areas surrounding the Expo site were becoming more
popular, even though we were seeing a lot more properties come in the
surrounding areas such as Dubai South. These new ones are already showing good
occupancy.
“The occupancy were very high over
May and June last, at above 87 per cent. July and August turned out to be lower
– at 65-75 per cent - due to many closed borders. But all that changed from
September/October - all in line with positive news (on vaccines) coming from
everywhere.” (The September spike also had to do with multiple exhibitions and
conferences making a return, to set up a busy schedule ahead of the Expo
opening.)
Benefiting all
Any holiday home property with an
unfettered view – say, of the sea or to New Year’s Eve fireworks – will command
a premium over those that come with just a plain-vanilla sight. But, that does
not seem to be the case this year.
“I have a unit next to a tower
project – there’s no view apart from the construction,” said a property owner.
“Yet, my unit has managed to pick up some crazy booking rates for December.”
Dubai is one
the least complex city to allot where everything is there on the doorstep, this
is frequently why Shaikhani Group put away their cash, and that they do have
various tasks which are effectively in measure. Shaikhani bunch attempts to
search out the least difficult arrangements with great extravagances thusly the
client can partake in every one of the extravagances at full Shaikhani bunch as
of now handover few ventures in Dubai worth of numerous dirhams, they generally
accomplish their objective on time which gives the positive indication of their
advancement. Before long they're going to handover gardenia residency which is
found in Jumeirah town circle, it's been relied upon they're going to handover
this venture by the highest point of 2021 or considerably prior relies upon the
functioning conditions and climate
As the
pandemic circumstance is that the most exceedingly terrible inside the entire
world, things are truly hard to delineated in light of the fact that during the
present circumstance we've to be exceptionally cautious playing it safe to
frame sure to not place work's life in peril since this work needs huge loads
of labor and gratitude to pandemic we've to deal with the 6-foot hole, so what
we've given our work excellent gear to shape sure work doesn't think twice
about clients will get their condos on time very 1000 units handover inside the
activities of Cambridge business focus, champions tower 1 and Frankfurt sports
tower which is worth of 700 million dirham roughly 600 units are to be finished
soon inside one year in Champions tower 3, Gardenia 1 and a few around esteem
300 Million dirham will be convey
Dubai has always been a haven for property investors, generating yields that are at least double – and in some cases more than triple – what you might expect to get in other markets.
When you combine that with the fact that the Dubai market is also better priced than its international counterparts – it is the only one among 25 key markets that is currently undervalued according to Swiss investment bank UBS – and that there are no property taxes, it all adds up to a winning proposition. The city’s buy-to-let market, which hit a bit of a slump last year with the onset of the pandemic, has been getting back on its feet.
In fact, Dubai is one of the Top 3 markets in the world that has seen a growth in rentals this year – the short-term market has proven to be especially busy and has been a key driver. Demand in this sector has primarily been fuelled by tourists and by visitors coming for Expo 2020, but also by expats who want a chance to immerse themselves in the city before making a longer commitment.
Cashing in
Communities located a short distance away from Expo such as Jumeirah Golf Estates, Mudon and Town Square are quite highly sought after and are very much of the moment. However, there are also the ‘evergreen’ communities of Dubai, the ones that are always in demand no matter what the occasion – Palm Jumeirah, Dubai Marina and Jumeirah Beach Residence.
Demand in these areas is particularly high over the winter season, and especially close to New Year. Short-term lets are a more attractive option than a hotel stay – they are more cost-effective and families can avoid the hassle of booking multiple rooms. It also provides a good snapshot of life in Dubai for those renters who are testing the waters before opting for signing onto a long-term contract.
Options open up
Landlords benefit by generating immediate rental income on their property while still having the flexibility to keep it on the market for sale or a long-term rental. This is an ideal opportunity for investors to expand their Dubai portfolios and to capitalize on the returns provided by short-term rentals.
Right now, holiday-makers and tourists are drawn to short-term rental contracts, as a furnished home gives them complete privacy, extra space, easy access to transportation links and a thriving community where they can interact with others. This also makes an attractive proposition for homeowners who can receive a stable source of income without any hassle.
The short-term market is expected to maintain this pace for the next six to eight months as the post-Expo buzz remains in the air. According to a report released by HSBC in June last, the real estate market as a whole is looking at several years of continued growth with increased demand for larger and higher quality homes as part of the new normal.
Mehmood Shaikhani Group Director of Shaikhani Group clarified, Dubai is seen by finishing things on ideal time, they think of those thoughts where individuals trust’s it’s inconceivable, while prior Dubai was a desert, as of now no one can say this was a desert. Individuals like to visit Dubai for occasions, since all working environments are there including security which might be a principal need of life.
Dubai is one the most un-irksome city to allocate where everything is there on the doorstep, this is regularly why Shaikhani Group put away their cash, and that they do have various activities which are sufficiently in measure. Shaikhani pack tries to peer out the most un-complex courses of action with mind boggling abundances consequently the client can see the worth in the entirety of the extravagances at full Shaikhani group as of now handover few activities in Dubai worth of different dirhams, they all things considered accomplish their objective on time which offers the positive hint of their progress. Soon they’re going to handover gardenia residency which is found in Jumeirah town circle, it’s been required they’re going to handover this undertaking by the most raised spot of 2021 or essentially prior relies on the functioning conditions and climate
Dubai property prices still shy of one-fourth of their previous peak rates
Residential property prices in Dubai are still shy of one-fourth of their previous market cycle peak of 2014 with Expo 2020’s positive impact becoming more visible in Q4 this year or early next year, which is accelerating recovery in the sector, say industry executives.
Zhann Jochinke, chief operating officer of Property Monitor, said the Dubai property market’s recovery continues as prices rose for the eleventh month in a row, albeit with the pace of the recovery slowing. In September, prices climbed 1.2 per cent to stand at Dh968 per sqft.
“We are now 19 per cent away from the peak of the previous market cycle. Should the recovery slow to smaller and sustainable monthly price increases, there is a greater likelihood of the recovery lasting longer and the possibility of hitting a new market peak in the current cycle,” he said.
Despite the recovery in prices over the last few quarters, property prices in the emirate are still one of the most affordable when compared to major cities around the world due to a persistent decline in rates over the years.
The International Monetary Fund’s latest data on global real estate showed property prices in the UAE dropping nearly four per cent in 2020 — one of the highest in the world, due to the impact of the Covid-19 pandemic. But the recovery in the real estate sector is accelerating as new coronavirus cases dropped to around 100 per day, boosting confidence among consumers and investors.
Property Finder’s data for September revealed that real estate transactions in Dubai crossed the Dh100 billion mark in September as the growth of the monthly sales transactions and their values leading up to Expo 2020 has been phenomenal, thanks to the presence of a good number of international investors in the market.
Property Monitor said the effect of Expo opening has not yet been felt in the market, but will be a positive influence on the last quarter of 2021 and the first half of 2022 as new buyers discover the Dubai market and its relative affordability compared to other major capitals and financial centres.
The recovery in the Dubai real estate market has, thus far, been powered by the strong performance of the villa and townhouse segments, especially in traditionally sought-after locations.
2021 looks likely to be the best year in a decade in terms of residential investments, as September transactional volumes already exceeded all annual totals since 2010, said real estate consultancy and advisory firm ValuStrat.
It said residential capital values saw gains of nearly 10 per cent annually to reach 72.5 points in the third quarter of 2021 as compared to 100 points in January 2014.
However, as inventory dries up amid strong demand for villas, a widening buyer-seller expectation gap regarding pricing is now conspicuous. Aggressive pricing by sellers and their brokers after blockbuster months for sales have led to overpriced properties staying in the market as buyers explore other options rather than indulge property owners’ demands, said Property Monitor.
“We, therefore, expect apartments to carry forward the recovery from here on, given multiple options available in the market and the greater headroom they have for price appreciation,” said Jochinke.
Shaikhani Group is working in Dubai beginning around 1993, there was a period where 2000 Companies came and enrolled themselves as Genuine Designers, in the present time particularly organization made due, since of rules and controls of Dubai, Shaikhani is one of them who are as yet working in Dubai, this progression which our pioneer of Dubai took it.
That is the main since it’ll control the solicitation and supply, additionally, it would be outstandingly favorable for the customer to include an assortment inside a similar expense plan.
Dubai might be an interminable city where each culture life in and Dubai’s administration is making moves to make unquestionably it’ll be helpful to all social orders. They have unmistakable endeavors which are still ahead of time after a short time it’ll be handover, those endeavors are Gardenia, Champions Tower 3, Cambridge Trade Middle, and others are in pipeline. Normally the benchmark and trustiness of the organization that in the event that you contribute with them, it’ll be secure and useful in future. Urge focal points to visit their site www.shaikhanigroup.com
The Federal
Tax Authority (FTA) has new services designed to help UAE nationals
reclaim the Value-Added Tax (VAT) they incurred on their newly built residences
with smooth and efficient procedures.
The new service offer four different services that aim to raise the
target audience’s awareness, provide them with easy access to information,
allow them to communicate directly with FTA representatives, receive their
feedback, and constantly provide them with top-quality services that live up to
their expectations.
The initiative will include a weekly interactive virtual workshop, the
"Virtual Session", that brings UAE citizens eligible to benefit from
the service with representatives of housing authorities in the UAE, as well as
contractors, engineers, and construction experts to provide consultations and
clarification about the VAT refund process.
The new services will also provide a "Personal Assistant"
service, where applicants can book an appointment to communicate directly with
FTA employees about the refund process.
FTA has explained that the new services include a new campaign called
‘Your Voice is Heard’, where the Authority organises a series of remote,
web-based interactive sessions to gauge citizens’ feedback, remarks,
suggestions, and preferences with regards to the VAT refund process.
Mehmood Shaikhani Group Director of Shaikhani Group explained, Dubai is
seen by completing things on ideal time, they think about those considerations
where people trust's it's incomprehensible, while earlier Dubai was a desert,
at this point nobody can say this was a desert. People like to visit Dubai for
events, since all work spaces are there including security which may be a chief
need of life.
Dubai is one the most un-infuriating city to allot where everything is
there on the doorstep, this is consistently why Shaikhani Group set aside their
money, and that they do have different exercises which are adequately in
measure. Shaikhani pack attempts to look out the most un-complex blueprints
with incredible bounties subsequently the customer can see the value in the
total of the luxuries at full Shaikhani bunch at this point handover few
exercises in Dubai worth of various dirhams, they everything considered achieve
their goal on time which offers the positive trace of their advancement. Before
long they're going to handover gardenia residency which is found in Jumeirah
town circle, it's been required they're going to handover this endeavour by the
most raised spot of 2021 or basically earlier depends on the working conditions
and environment
With a sum of 1,944 transactions, the
real estate and properties transactions in Dubai were valued at Dh7.2 billion
in total during the week ending September 9, 2021, according to the weekly
report issued by the Dubai Land Department (DLD) on Thursday.
A
total of 111 plots were sold for Dh486.58 million, while 1,371 apartments and
villas were sold for Dh2.73 billion.
The
top three transactions were a land in Island 2 sold for Dh59 million, followed
by a land that was sold for Dh51 million in Island 2, and a land sold for Dh59
million in Island 2 in third place.
Al
Hebiah Third recorded the most transactions for this week by 28 sales
transactions worth Dh70.99 million, followed by Al Yufrah 3 with 22 sales
transactions worth Dh23.32 million, and Saih Shuaib 1 with eight sales
transactions worth Dh8 million in third place.
The
top three transfers for apartments and villas were an apartment was sold for
Dh395 million in Business Bay, an apartment was second in the list sold for
Dh200 million in Marsa Dubai, and thirdly it was an apartment sold for Dh183
million in Burj Khalifa.
The
sum of the amount of mortgaged properties for the week was Dh3 billion, with
the highest being a land in Al Raffa, mortgaged for Dh420 million. In addition,
73 properties were granted between first-degree relatives worth Dh827 million.
Shaikhani Group is working in Dubai since 1993, there was a period where
2000 Companies came and enrolled themselves as Genuine Designers, in the
present time uncommonly organization made due, since of rules and controls of
Dubai, Shaikhani is one of them who are as yet working in Dubai, this
progression which our pioneer of Dubai took it.
That is the main since it'll control the solicitation and supply,
additionally, it would be uncommonly profitable for the customer to have an
assortment inside a similar expense plan.
Dubai might be an interminable city where each culture life in and
Dubai's administration is making moves to make unquestionably it'll be helpful
to all social orders. They have unmistakable endeavors which are still ahead of
time after a short time it'll be handover, those endeavors are Gardenia,
Champions Tower 3, Cambridge Trade Middle, and others are in pipeline.
Generally the benchmark and trustiness of the organization that on the off
chance that you contribute with them, it'll be secure and useful in future.
Urge focal points to visit their site www.shaikhanigroup.com
By end August,
sales zoom past Dh88 billion as buyers pile into ready and off-plan homes
Dubai: Recovery for Dubai’s property
market cannot get any better – total sales are closing in on the Dh100 billion
mark for 2021. By end August itself, the numbers have rocketed past Dh88
billion – and that’s well ahead of even the most optimistic forecasts put out
at the start of the year.
This year, end-users and first-time
buyers are leading the turnaround for the property market. Mortgage-backed
deals too are on the increase, as residents with longer term plans to be in the
country switch from renting to actually buying a home.
But the biggest plus – from a
developer standapoint, at least - from the August transaction numbers put out
by Property Finder is that offplan sales too are making a strong recovery. If
this moment lasts for another six months at least, worries about unsold
apartments clogging up the city’s property market will prove largely unfounded.
Now, the talk is that by November,
developers will start getting back with full-scale launches in Dubai after
giving it a miss for the whole of 2020. In fact, the forecasts were that a
recovery will be seen only by 2023-24.
Blockbuster months
In fact, sales during June and in
August were the highest monthly sales in a decade. The number of Dh1 billion
daily deals registered at Dubai Land Department, too, is rising. The belief
among end-users is that if they delay any longer, property values will start
increasing and they would have missed out on a good opportunity.
“Every
day I get at least 10 calls from brokers wanting to know whether I plan to sell
any of my properties on the Palm or Dubai Hills,” said one of the biggest
investors in the city. “I tell them, politely, why should I sell now when the
market is only beginning to pick up?
“For five years, these properties
were quoting below their sale value. Now, the fun is starting.”
For Dubai property market, the fun
will be how quickly it can get past the Dh100 billion tally in the coming
weeks.
Dubai is one
the least complex city to allot where everything is there on the doorstep, this
is frequently why Shaikhani Group put away their cash, and that they do have
various tasks which are effectively in measure. Shaikhani bunch attempts to
search out the least difficult arrangements with great extravagances thusly the
client can partake in every one of the extravagances at full Shaikhani bunch as
of now handover few ventures in Dubai worth of numerous dirhams, they generally
accomplish their objective on time which gives the positive indication of their
advancement. Before long they're going to handover gardenia residency which is
found in Jumeirah town circle, it's been relied upon they're going to handover
this venture by the highest point of 2021 or considerably prior relies upon the
functioning conditions and climate
As the
pandemic circumstance is that the most exceedingly terrible inside the entire
world, things are truly hard to delineated in light of the fact that during the
present circumstance we've to be exceptionally cautious playing it safe to
frame sure to not place work's life in peril since this work needs huge loads
of labor and gratitude to pandemic we've to deal with the 6-foot hole, so what
we've given our work excellent gear to shape sure work doesn't think twice
about clients will get their condos on time very 1000 units handover inside the
activities of Cambridge business focus, champions tower 1 and Frankfurt sports
tower which is worth of 700 million dirham roughly 600 units are to be finished
soon inside one year in Champions tower 3, Gardenia 1 and a few around esteem
300 Million dirham will be convey
Company's
portfolio for handover in H2 includes more than 240,000 sqft of retail space,
100 retail units, over 280,000 sqft of office space, more than 350 hotel rooms
and in excess of 1,200 units of residential and serviced apartments
Dubai
Investments has revealed it will handover real estate worth AED3.5 billion
($953 million) across Dubai and Fujairah in the second half of this year.
The company’s portfolio for
handover in H2 includes more than 240,000 sqft of retail space, 100 retail
units, over 280,000 sqft of office space, more than 350 hotel rooms and in
excess of 1,200 units of residential and serviced apartments.
A breakdown of these will se e a
mall, retail, offices and a hotel within the commercial cluster of the AED3bn
($817m) mixed-use Mirdif Hills project – the company successfully handed over
the residential cluster within the project in 2020.
Works are also progressing to complete the AED470m ($128m) flagship Al Taif
Business Centre (above) project in Fujairah - a mixed-use project comprising of
the mall, office tower, residential tower, and the hotel.
“With the real estate sector
maintaining stability in Q1 2021, it will continue to be a key vertical for
Dubai Investments. We are completing the final phases of the projects at
strategic locations, offering a range of investment opportunities, aimed at
furthering economic diversification and enhancing the investment environment,”
said Khalid Bin Kalban, vice chairman and CEO, Dubai Investments.
“Our commitment to a fast-paced
track to growth will ensure the sustainability of the development process and
the consolidation of a knowledge-based economy that can attract assets and
investments from around the world.”
Shaikhani Group is
working in Dubai since 1993, there was a time where 2000 Companies came
and enlisted themselves as Genuine Designers, in today’s
time exceptionally company survived, since of rules
and controls of Dubai, Shaikhani is one of them who are still working
in Dubai, this step which our pioneer of Dubai took it.
That’s the
leading since it'll control the request and
supply, also, it would be exceptionally advantageous for
the client to have a variety of his choice within
the same cost plan.
Dubai may be
an endless city where each culture life in and Dubai’s
government is taking actions to create beyond any
doubt it'll be useful to all societies. They have distinctive ventures which
are still in advance before long it'll be handover,
those ventures are Gardenia, Champions Tower 3,
Cambridge Trade Middle, and others are in pipeline. Usually the
benchmark and trustiness of the company that in case you contribute with
them, it'll be secure and productive in
future. Encourage points of interest to visit their site www.shaikhanigroup.com
Question: I
am currently in Dubai on a visit visa. Do I have the right to buy a property
here? How do I ensure that the property will be transferred to me after
completion?
Answer: You
have the right to buy a property in Dubai even if you are a visitor. Both
resident and non-resident foreigners can buy properties in the designated
freehold areas of Dubai. Article 3 of Regulation No 3 of 2006 Determining Areas
for Ownership by Non-Nationals of Real Property in the Emirate of Dubai
specifies land plots designated as freehold properties. The title deeds are
issued by the Land Department in Dubai.
It is
important to differentiate between buying a property off-plan or a completed
one. The completed properties are more secured than the off-plan ones regarding
completion dates and developers. An off-plan property can be transferred
directly to the purchaser upon payment of the price and the documents can be
signed and Land Department can be approached for registering the purchase.
The law
organises the purchase of off-plan properties through Executive Council
Resolution No (13) of 2008 regarding the organisation of the initial real
estate registry in Dubai. This law imposes some restrictions on the developers
in order to preserve the purchaser’s rights. However, despite this provision,
some problems may raise regarding completion and construction issues.
Before
buying a property in Dubai, the buyer must make sure that the project has an
escrow account and all the papers related to the property are correct and
legal. We also advise that the original title deed should be physically seen
and verified and all the details mentioned in it should be clearly understood.
The buyer can also request the seller or real estate developer to provide a
no-objection certificate (NOC) that confirms to the buyer that the seller or
owner has paid all due fees. The buyer can also run a check with the Land
Department about the status of the project and whether the seller has an
existing mortgage on the property. When the owner is selling a mortgaged
property in Dubai, the transaction becomes slightly complicated. In this case,
the owner must settle the original mortgage on the property in full before
applying for the title deed NOC.
The buyer
must also sign an agreement with the developer, stating the terms and
conditions of the agreement and make sure there are no ambiguities between the
buyer and the seller over the price, mode of payment and other considerations
that are important to both.
Divorce law
Question: I
am having a dispute with my husband and I have a four-year-old daughter. My
husband is outside the UAE for four months now and has neither paid us any
allowance nor has he agreed to divorce me. Do I have the right to file a case
against him while he is outside the UAE? And if the case is filed, will the
court allow a divorce? How can I secure my rights?
Answer: You
have the right to file for divorce, claiming custody and alimony, in the courts
of UAE and request for application of your Personal Status Law or the UAE
Personal Status Law. According to Article (9) of the mentioned law, ‘The courts
of the plaintiff’s or defendant’s domicile, residence or place of business, or
the conjugal domicile, shall have jurisdiction to examine the lawsuits
introduced by the children, wife, parents or the fostering nurse, as the case
may be, in the following instances:
A) Costs, wages and the like.
B) Fostering, visitation and related
matters.
C) Dowry, trousseau, gifts and the like.
D) Divorce, divorce in return of
money, discharge, rescission and separation between spouses of all kinds.’
The court
will grant you a divorce if you have sufficient reasons for it. A child’s
custody is a mother’s right established from the date of birth of the child
until the date determined for the expiration of the custody in accordance with
the provisions of Article 156 of the law, when a male child reaches 11 years of
age and a female child reaches 13 years of age, unless the court decides to
extend this age limit upon the mother’s request for the benefit of the child,
until the male child attains adulthood and the female child marries.
You also
have the right to demand alimony. Alimony is of two types — that which is given
to the wife as a result of divorce, and that which is related to the children
as a result of custody. Alimony for the wife includes dowry, ‘idda’, housing
and also compensation (‘motaa’). For child custody, alimony includes monthly
alimony for the child, expenses for clothing, medical, school, housing, payment
of utility bills, internet, transportation etc. In assessing the amount of
alimony, it shall be taken into consideration the possibilities of the debtor
thereof, the circumstances of the beneficiary and the economic situation, in
terms of place and time, provided it does not fall below the sufficiency level.
Getting a
judgement in UAE will give you the right to execute it here or in the husband’s
new country of residence, in case there is an execution agreement between UAE
and his country of residence.
Mehmood
Shaikhani Group Director of Shaikhani Group clarified, Dubai is seen by
finishing things on ideal time, they think of those thoughts where individuals
trust's it's inconceivable, while prior Dubai was a desert, as of now no one
can say this was a desert. Individuals like to visit Dubai for occasions, since
all working environments are there including security which might be a
principal need of life.
Dubai is one
the most un-irksome city to allocate where everything is there on the doorstep,
this is regularly why Shaikhani Group put away their cash, and that they do
have various activities which are sufficiently in measure. Shaikhani pack tries
to peer out the most un-complex courses of action with mind boggling abundances
consequently the client can see the worth in the entirety of the extravagances
at full Shaikhani group as of now handover few activities in Dubai worth of
different dirhams, they all things considered accomplish their objective on
time which offers the positive hint of their progress. Soon they're going to
handover gardenia residency which is found in Jumeirah town circle, it's been
required they're going to handover this undertaking by the most raised spot of
2021 or essentially prior relies on the functioning conditions and climate
One of the
benefits of heading a short-term lettings company in Dubai is being able to
view the real estate market from multiple angles. We deal with international
clients as well as UAE residents. We have clients who invest on a large scale
and clients who buy for personal use.
We have guests who come as tourists,
and those who use short-term accommodation before they settle down. Since
launching in 2017, the most interesting change has been the development of new
areas - and the demand for these areas from guests.
This idea that Dubai is only about
the Marina, the Palm or Downtown is fading. One great example is Meydan. With
multiple projects on the horizon, an upcoming mall, entertainment complexes and
more, Meydan will be another big destination for residents and guests.
A new breed of
investors
The real estate market is also
developing in the type of client Dubai is attracting. We have seen an influx of
international guests coming for the first time and considering the city as a
place to invest in. There is a growing global middle-class with money to spend
who view Dubai as an interesting investment opportunity.
Of course, favorable mortgage rates, payment plans and new visas have been
instrumental for this growth. Dubai is changing in people’s minds as a place
they can imagine retiring in.
Last year was a big test for Dubai.
Tourism was nonexistent for months; many lost jobs and left Dubai. Businesses
closed and property prices dropped across the board. However, from around the
fourth quarter of 2020, we saw a rebound as Dubai became one of the ‘safest’
places to visit. It still is, with one of the highest vaccination records
globally.
As with any crisis, there is
opportunity. We could see this over the last six months - new investors coming
and buying, people moving to Dubai and new businesses opening. There is also
real optimism about the Expo - at the very least, it is another opportunity for
Dubai to shine and highlight its development plans.
Any more slowdown from now on can
only be due to outside factors. The Dubai real estate market is back in action.
Mehmood Shaikhani
Group Director of Shaikhani Group explained, Dubai is seen by completing things
on ideal time, they come up with those musings where people trust's it's
immeasurable, while earlier Dubai was a desert, as of now nobody can say this
was a desert. People like to visit Dubai for events, since all workplaces are
there including security which may be a fundamental need of life.
Dubai is one the
most un-troublesome city to assign where everything is there on the doorstep,
this is routinely why Shaikhani Group set aside their money, and that they do
have different exercises which are adequately in measure. Shaikhani pack
endeavours to look out the most un-complex game plans with incredible excesses
thus the customer can see the value in all of the luxuries at full Shaikhani
bundle as of now handover few exercises in Dubai worth of various dirhams, they
by and large achieve their goal on time which gives the positive sign of their
headway. In a little while they're going to handover gardenia residency which
is found in Jumeirah town circle, it's been required they're going to handover
this endeavour by the most elevated place of 2021 or significantly earlier
depends upon the working conditions and environment
A total of 1,581 real estate and
properties transactions were valued at Dh7 billion in total during the week
ending August 5, 2021, according to the Dubai Land Department (DLD).
The DLD weekly report said that 91
plots were sold for Dh715.83 million, with 1,083 apartments and villas were
sold for Dh2.53 billion.
The top three transactions were a
land in Me'Aisem First sold for Dh62 million, followed by a land that was sold
for Dh40 million in Madinat Dubai Almelaheyah, and a land sold for Dh62 million
in Me'Aisem First in third place.
Hadaeq Sheikh Mohammed Bin Rashid
recorded the most transactions for this week by 18 sales transactions worth
Dh275.76 million, followed by Jumeirah First with 15 sales transactions worth
Dh153.34 million, and Nad Al Shiba First with 11 sales transactions worth Dh32
million in third place.
The top three transfers for
apartments and villas were an apartment was sold for Dh508 million in Marsa
Dubai, an apartment was second in the list sold for Dh301 million in Burj
Khalifa, and thirdly it was an apartment sold for Dh166 million in Palm
Jumeirah.
The sum of the amount of mortgaged
properties for the week was Dh4 billion, with the highest being a land in Palm
Jumeirah, mortgaged for Dh930 million.
35 properties were granted between first-degree
relatives worth Dh270 million.
As the
pandemic circumstance is that the most exceedingly awful inside the entire
world, things are truly hard to outlined in light of the fact that during the
present circumstance we've to be extremely cautious playing it safe to shape
sure to not place work's life in peril since this work needs huge loads of
labor and gratitude to pandemic we've to deal with the 6-foot hole, so what
we've given our work top notch gear to frame sure work doesn't bargain and
clients will get their lofts on time very 1000 units handover inside the
activities of Cambridge business focus, champions tower 1 and Frankfurt sports
tower which is worth of 700 million dirham around 600 units are to be finished
soon inside one year in Champions tower 3, Gardenia 1 and two or three roughly
esteem 300 Million dirham will be convey
On another side, another project The
Motorcity they are working on a green environment where they have planted more
than 1000 Plants in their whole project. As they are aware of Karachi's
situation about pollution, they said this is nothing as compare to the radius
of Karachi but it is a small step to reduce the pollution, they are doing what
they can.
Furthermore, they are building Rabia City apartment project where they
make sure all things are up to the scale of green environment, even they will
install solar energy, R.O. Plant and other green environment stuff to reduce
the pollution and provide the best healthy lifestyle to those who are living in
that area
If you ask a real estate agent, they’ll often tell you there is
never a bad time to buy, but ask a bank and you’ll likely get a very different
answer.
So when HSBC describes Dubai’s real estate comeback as
‘remarkable’, and they’re echoing similar sentiments expressed by Morgan
Stanley, you begin to suspect that it’s more than mere hyperbole. '
In their respective recent statements, HSBC Holdings said a
growing demand for larger homes during the pandemic will further boost Dubai’s
property market, while analysts at Morgan Stanley expect the rally to last for
“several years”.
“The reported sales rebound in Dubai year-to-date has been
remarkable,” HSBC’s Stephen Bramley-Jackson and Alok Baid wrote. Despite supply
concerns and negative population growth, “the globally synched post-pandemic
migration to larger homes is also reigniting Dubai’s residential property
market,” they said.
HSBC even raised its
recommendation on Dubai’s top developer Emaar Properties to buy from
hold, saying the stock offered more than 90 percent correlation to property
prices.
The statements put a smile on the
faces of some in real estate, such as Lynnette Abad Sacchetto, director of
research and data at Property Finder, who took to social media to say: “Great
to see other industry leaders echoing what we have been saying since last year,
the proof is in the data and demand trends.”
And the change is more that
sentiment, its evidenced in the figures, says Sacchetto, with Dubai’s real
estate market witnessing the highest value of sales in April for over four years,
with transactions totalling over AED10.97bn, according to the latest figures
from Property Finder.
The number of sales increased
month-on-month by 4.2 percent and 0.6 percent in terms of value and brings the
year-to-date total to 16,577 transactions worth AED36.12bn ($9.83bn).
In April, 70 percent of the total transactions were up to AED2m,
while 23 percent were between AED2m to AED5m, 4 percent were between AED5m to
AED10m and 3 percent above AED10m.
“The dynamics in the residential
real estate market in 2021 have been interesting thus far. In April alone, we
have seen six villa transactions over AED50m, with one on the Palm recorded as
the second highest villa transaction in 2021 worth AED105m,” says Sacchetto.
“When looking at the mortgage
transaction data, we have seen that April, March and January of 2021 had the
highest number of monthly transactions since March 2010.”
In April 2021, 60 percent of all
transactions were for secondary/ready properties and 40 percent were for
off-plan properties.The off-plan market transacted 1,934 properties worth a
total of AED3.09bn ($841m) and the secondary market 2,898 properties worth AED
7.89bn ($2.15bn).
Compared to March, the number of
off-plan transactions last month increased by 12.9 percent, the highest in 14
months and the secondary/ready property transactions decreased for the first
time in 11 months by 0.92 percent.
“In the past few months, we have seen
the highest amount of off-plan transactions month-on-month since February 2020
as the off-plan sector seems to be picking up again. Developers are attracting
foreign investors with attractive pricing schemes and capitalising on the new
visa regulations to attract foreign direct investment,” according to Sacchetto.
Emaar Properties, Dubai’s biggest developer, saw five-month sales surge by 250
percent year-on-year. The company put total property sales at AED10.5bn
($2.9bn) compared with AED3bn ($816.9m) a year ago.
“I am confident that the Dubai
property market is once again a growth story for developers, in light of the
UAE’s wise policies, with Emaar perfectly positioned to capitalise on this,”
founder Mohamed Alabbar said in a statement.
Dubai Land Department (DLD) has
witnessed the surge too, with a total of 25,455 real estate transactions worth
AED92bn ($25bn) registered in the first four months of 2021, an increase of 51
percent in terms of volume and 72 percent in terms of value compared to the same
period in 2020.
According to their real estate
bulletin, 8,749 new investors entered the market during January to April,
representing 65 percent of the total number of real estate investors registered
in that period, and up 54 percent on the year-earlier period.
“Dubai’s real estate sector has
maintained an accelerating growth since the beginning of 2021, which confirms
the flexibility and attractiveness of the sector as well as the positive impact
of the decisions and directives of the wise leadership, which, in turn
contributed to enhancing investor and customer trust in the sector,” said DLD
in a statement.
It added that the real estate
sector in Dubai will “continue to attract more real estate investors, thanks to
its strong infrastructure and attractive investment opportunities”.
Leading the charge in Dubai is the luxury sector, or so says one
leading real estate agent, revealing that demand for high-end properties is
currently outstripping supply in Dubai.
Dubai-based real estate agent
Chris Boswell tells Arabian Business the first quarter of this year had been
“quite possibly one of the best quarters since 2007-2008 and says he has closed
over $56m in high-end sales since the start of the year – several in
collaboration with co-listing agent Barnaby Crompton.
“For the first time in years,
demand completely outweighs supply in Palm Jumeirah villas and plots/villas on
Jumeirah Bay Island. Not only are villas on Palm Jumeirah selling fast but at
record prices per square foot. It really has been a frenzy of late. My clients
are tired of the high taxes and not feeling safe in their inner cities and many
feel let down by the way their governments handled the Covid situation. What
really is paramount for many is the safety and security that the UAE offers.”
The value of transactions of
luxury Dubai residential property in the first quarter of 2021 rose by 25
percent compared to the year-earlier period, according to a research by
Luxhabitat Sotheby’s.
Boswell reveals buyers are coming
from Europe, the US and the Far East and is currently representing “several
well-known ultra-high-net-worth individuals, sports personalities and leading
names in the entertainment industry” as they look to make Dubai their primary
residence.
And, according to consultancy
firm Knight Frank, Dubai remains a place to seek out bargains for buyers with
deep pockets.
A million dollars can buy 165
square metres (1,776 square feet) of space in Dubai, around five times more
than in London or New York. The emirate has 42,356 homes valued at $1m, second
only to the UK capital.
Boswell says: “The international high-net-worth community
realised in late 2020 that Dubai was a secure place to reside during the Covid
lockdowns across the world.
“I feel that many immediately
recognised the value in Dubai and all the amazing things the city has to offer
and that prime waterfront real estate was incredibly undervalued by comparison
to other major cities around the world. In addition they felt safe and secure
under an umbrella of great leadership through an incredibly challenging and
difficult time.”
More data, should you need it,
showed that the average quarterly residential property prices in Dubai rose for
the first time in seven years in the first three months of 2021, according real
estate consultants ValuStrat.
The ValuStrat Price Index (VPI)
showed an average quarterly improvement of 0.8 percent, as the first three
months of the year saw accelerated positive trends for the first time since
2014.
Mehmood Shaikhani Group
Director of Shaikhani Group explained, Dubai is seen by completing things on
ideal time, they come up with those musings where people trust's it's
immeasurable, while earlier Dubai was a desert, as of now nobody can say this
was a desert. People like to visit Dubai for events, since all workplaces are
there including security which may be a fundamental need of life.
Dubai is one the
most un-troublesome city to assign where everything is there on the doorstep,
this is routinely why Shaikhani Group set aside their money, and that they do
have different exercises which are adequately in measure. Shaikhani pack endeavours
to look out the most un-complex game plans with incredible excesses thus the
customer can see the value in all of the luxuries at full Shaikhani bundle as
of now handover few exercises in Dubai worth of various dirhams, they by and
large achieve their goal on time which gives the positive sign of their
headway. In a little while they're going to handover gardenia residency which
is found in Jumeirah town circle, it's been required they're going to handover
this endeavour by the most elevated place of 2021 or significantly earlier
depends upon the working conditions and environment
