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Dubai real estate brokers earn Dh1.8b in commission

Dubai real estate brokers earn Dh1.8b in commission Staff Report / 26 January 2014 Total real estate sales for 2013 accounted for Dh93.2 billion Buoyant property sector helped earned Dubai real estate brokers Dh1.8 billion in commission last year, the Dubai Land Department (DLD) revealed in a statement on Saturday. The figure encompasses the amount of commission earned by property brokers registered in the Real Estate Regulatory Agency (Rera), DLD’s regulatory arm, with the sum representing two per cent of the total value of recorded deals. “We have seen these high commissions because of the increased activity in the real estate market and in other economic sectors across Dubai,” said Yousif Al Hashimi, deputy chief executive officer of Rera. “The impressive figure is mainly due to the optimistic atmosphere among investors, particularly over the past few months period ….. that saw many regulatory initiatives launched by DLD and also witnessed Dubai’s winning bid to host Expo 2020,” he added. A recent report issued by DLD revealed that the total real estate sales for 2013 reached Dh93.2 billion, with transactions comprising all sales operations, such as selling usufruct, registering deferred sales and registering land addition by sale. The figure was calculated from the recorded buying and selling of different types of real estate units, including apartments, hotels and commercial offices in freehold areas. “We are keen to follow the highest standards of quality in order to guarantee the rights of all dealers in the market, as well as ensuring the implementation of transactions in an easy, smooth and accurate way,” said Al Hashimi. “We are able to achieve this by tracking all activities through our comprehensive database, which records all real estate activities across the emirate,” he added. Al Hashimi reiterated that no individual or company is permitted to work in real estate brokerage unless they are officially registered with Rera, pursuant to Regulation No 85 issued in 2006. This mandatory requirement identifies the names of individuals and companies engaged in property brokerage and records the rights and responsibilities of all stakeholders in the market. This stipulation, he said, is essential to ensure maximum transparency and competitiveness within Dubai’s property sector, as well contributing significantly to DLD’s efforts to be the first choice global real estate environment for attracting investment. — abdulbasit@khaleejtimes.com For more news from Khaleej Times, follow us on Facebook at facebook.com/khaleejtimes , and on Twitter at @khaleejtimes Continue reading

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Wawrinka defeats Nadal to win Australian Open

Wawrinka defeats Nadal to win Australian Open (Reuters) / 26 January 2014 Swiss Stanislas Wawrinka has won the Australian Open. Stanislas Wawrinka celebrates his win. -AP Switzerland’s Stanislas Wawrinka claimed his first Grand Slam title in dramatic fashion on Sunday when he upset injury-troubled world number one Rafael Nadal in the Australian Open final. The eighth seed roared through the first two sets and overcame the distraction of a back injury to Nadal, and then the loss of the third set, to take it 6-3, 6-2, 3-6, 6-3 in two hours 21 minutes. Nadal, who was chasing his 14 th major title, looked as if might pull out with the back injury but he fought back to take the third set and force the match into a fourth set. “For me it’s the best Grand Slam ever. I’m enjoying very much to play here,” Wawrinka said, who lost in five sets to Novak Djokovic in last year’s fourth round. “In one year a lot has happened. Right now I still don’t know if I’m dreaming or not. We’ll see tomorrow morning.” It was a stunning win for Wawrinka, who had not beaten Nadal in their previous 12 matches but rallied to win the fourth set and take the championship. He took 36 Grand Slam appearances to win his first title, second only to Goran Ivanisevic who played 48 before he won Wimbledon in 2001. Nadal was in tears as he said: “Many thanks Stan, you really deserved it, I’m very happy for you. I had bad luck against you today but you really deserve it. “My team, I tried hard, thank you very much. Without them it would be impossible to be where I am today. Sorry to finish this way, I tried very, very hard. “This year is one of the more emotional tournaments of my career.” Wawrinka began nervelessly and after holding his opening two service games for the loss of only two points he made the first move in the final, breaking Nadal in the fourth game. The Spaniard played a poor drop-shot which was followed by a double-fault to open the door for Wawrinka. The Swiss again had a break point in Nadal’s next service game as he held his own serves without undue pressure. But he was three break points down serving out for his first ever set against Nadal, only to win the next five points with some magnificent serves to go one set up in 37 minutes. Fresh from his psychological breakthrough, Wawrinka broke Nadal to love in the opening game of the second with with a cracking backhand return winner. The Swiss was in the zone, reeling off 12 consecutive points against the non-plussed Nadal, who received a time violation warning for slow play between points. Nadal’s problems mounted when he grabbed his back after playing a forehand. He called for the trainer at the next changeover and went off the court for a medical timeout at 2-1 in the second set. Wawrinka argued with the chair umpire about why he wasn’t told what Nadal’s injury was, as the crowd became restless with the Spaniard’s seven-minute absence off the court. When Nadal re-emerged he looked distressed and lost his serve for a third time as Wawrinka charged to a 4-1 lead. The Spaniard sat with his head in hands at the changeover. Wawrinka served out for the second set as Nadal disconsolately walked to his chair and received further courtside treatment on his back. However, Nadal fought back and broke Wawrinka’s serve for the first time in the final early in the third set. The treatment or possible painkillers appeared to have some effect and Nadal began hitting the balls with more authority to lead 4-1 as mistakes began to creep into the unsettled Wawrinka’s game. Wawrinka had a couple of break points in the ninth game but Nadal served out for the third set to take the final into a fourth set. The Swiss again failed to capitalise on two break points early in the fourth as Nadal held serve. Wawrinka got his fourth break with a big forehand winner to the corner to take a 4-2 lead and move within sight of the championship. But Nadal broke back after three break points in the next service game with a string of errors from the nervy Wawrinka. However, Wawrinka broke Nadal again and he served it out authoritatively, winning the title with a forehand and raising his arms aloft in celebration. The Swiss became the first man to defeat the top two seeds at a Grand Slam since Sergi Bruguera at the 1993 French Open. Nadal has had injury problems in the past in Melbourne. He missed the 2006 and 2013 editions, had to retire injured in the 2010 quarter-finals, and was hit by a muscle strain during his 2011 last-four defeat to David Ferrer.  For more news from Khaleej Times, follow us on Facebook at facebook.com/khaleejtimes , and on Twitter at @khaleejtimes Continue reading

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Shaikh Khalifa stable after surgery

Shaikh Khalifa stable after surgery Staff Reporter / 26 January 2014 Ministers, residents, GCC nationals wish him speedy recovery. Social networking sites saw a number of hashtags supporting and praying for the wellbeing and health of Shaikh Khalifa. The Ministry of Presidential Affairs said on Saturday that the President, His Highness Shaikh Khalifa bin Zayed Al Nahyan, is stable after he underwent an operation. “The President, His Highness Shaikh Khalifa bin Zayed Al Nahyan, suffered a stroke on Friday morning. He immediately underwent a surgical operation. His health is now stable. May God safeguard him and grant him a quick recovery,” a ministry statement said. Social networking sites, especially Twitter, on Saturday saw a number of hashtags supporting and praying for the wellbeing and health of President Shaikh Khalifa. The hashtags and tweets asked for people’s supplication for the President after he underwent the emergency operation. Some of the hashtags tackled the most trending topics and issues being spoken about at present. Photos of the President were also carried on Instagram pages. UAE Foreign Minister Shaikh Abdullah bin Zayed Al Nahyan posted a tweet saying: “May God Allah preserve my lord — the President — from all harm and evil, and bestow the wellbeing and good health on him.” Minister of State for Foreign Affairs Dr Anwar Gargash tweeted: “May Allah protect Bu Sultan — referring to the President — from all harm and ill, and dress him a gown of wellbeing and good health.” GCC and Arab citizens also shared their Twitter comments following the #SheikhKhalifa hashtags. They showed affection and love by writing and giving heartfelt posts and sharing some poetic verses. Twitter posts were also sent from some GCC countries thanking Allah for keeping the President safe and sound. Emirati citizen Majid Al Rae’si wrote about the cohesion of the late Shaikh Zayed’s sons and highlighted their prayers to Allah asking him to preserve their father Khalifa is the rarest and greatest medicine. FNC member Dr Mona Al Bahar tweeted: “Hope Allah the Almighty bestows complete wellbeing and good health on Bu Sultan and protects you from all evil and harm.” Mohammed bin Zayed receives calls from Saudi, Kuwaiti officials General Shaikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, received telephone calls from a number of top Saudi and Kuwaiti officials, inquiring about the health condition of the President, His Highness Shaikh Khalifa bin Zayed Al Nahyan, after the President underwent a surgical operation on Friday. Shaikh Mohammed got over the telephone best wishes for speedy recovery and good health for Shaikh Khalifa from Prince Muqrin bin Abdul Aziz, Second Deputy Prime Minister of Saudi Arabia; Prince Fahad bin Sultan bin Abdul Aziz, Governor of Makkah; and Shaikh Mohammed Al Khaled Al Sabah, Kuwaiti Interior Minister. (With input from Wam) news@khaleejtimes.com For more news from Khaleej Times, follow us on Facebook at facebook.com/khaleejtimes , and on Twitter at @khaleejtimes Continue reading

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