Tag Archives: dubai property news
Is a new property law set to be introduced?
New legislation has been proposed that will give Dubai property investors greater levels of protection.According to the Real Estate Investment Management and Promotion Centre of the Dubai Land Department (DLD), the Tanweer law has been set up and is now ready to be officially sanctioned, the National reports.The organisation said that legal experts had given feedback on the draft regulations last year.Head of the centre Majida Ali Rashed told the news provider the law – which protects the rights of real estate investors and aims to create more transparency across the sector – is the first of its kind in the world.”The [DLD] will issue in the coming period a fully integrated law that will protect the rights of real estate investors through a comprehensive framework based on transparency and clarity of the contractual relationship between the developers and the investors,” she was quoted as saying.Experts have welcomed the impending introduction of the law and stated that more information would be made available once it is officially put in place.Alexis Waller, partner at the legal firm Clyde & Co, said anything that enhances confidence in the city's property sector is to be welcomed and the rules have been set up in a way that balances the interests of both developers and investors.Several recent studies have highlighted the growing demand for property in the UAE and it is generally accepted that the government's proactive approach to stimulating investment activity in the country is one of the main reasons for its popularity.Earlier this month, Global Investment House's GCC Real Estate Quarterly report showed the UAE and Saudi Arabian property markets are still leading the way in the Middle East.The research indicated that Dubai landlords were able to hike their rents by ten per cent in the first quarter of 2013, while the hospitality and commercial property sectors also performed extremely well during the three-month period.With new legal safeguards in the pipeline as well, it is easy to see why Dubai is one of the most sought after investment hotspots on the planet at the moment. The First Group can find you some excellent properties in Dubai Continue reading
Is Dubai set to be the next big technology hub?
Most people immediately think of the US or Japan when the subject of technology is raised, but Dubai is also building itself a strong reputation in this area.Indeed, Dubai Internet City has already attracted some of the leading companies on the planet – not least Google – and this is a trend that is likely to develop over time.Speaking to Al Arabiya, Omar Christidis, chief executive of ArabNet – a forum for technology start-ups – said the emirate is a “growing hub for digital business”.His comments were made during the ArabNet Digital Summit, which poignantly has been switched from its usual location of Beirut to Dubai, further emphasising just how powerful the city has become in the technology sector.Mr Christidis said the interest in digital corporations has “exploded” since 2010 and this is reflected in the growing number of people attending the summit every year.”We're seeing global companies establish their Middle East – and often their Middle East and Africa – headquarters in Dubai, sometimes even managing Turkey and India based out of Dubai,” he was quoted as saying.”This year we decided to shift the Digital Summit, our biggest international event, from Beirut to Dubai, as Dubai is the hub for digital business in the Arab world.”Earlier this month, a study conducted by the Economic Intelligence Unit on behalf of Citi bank concluded that Dubai is an excellent place to do business, describing the city as an “all-round performer”.Aside from the plethora of technology organisations that have moved to the sheikhdom, plenty of enterprises in other fields have been keen to set up a new base in this part of the Gulf. This is partly attributed to the favourable tax laws in the UAE.The Hot Spots 2025: Benchmarking the Future Competitiveness of Cities report showed Dubai is the leading business destination in the Middle East and is set to be the 23rd strongest market in the world over the coming years. Continue reading
College football could be coming to Dubai
Dubai could stage a major US college football 'bowl' in the future, sources have suggested.Some of the less established teams in the North American country are keen to take some of the limelight away from the larger 'Power Five' conferences and a new finale could be the answer.ESPN reports that nine locations have been earmarked for a possible college football extravaganza, four of which are outside the US. As well as Dubai, football chiefs are also considering taking the sport to Dublin, Toronto and Nassau in the Bahamas.Ken Hoffman, chairman and executive director of the Little Caesars Bowl, told the sports news broadcaster that he has been talking to some of the smaller conferences about possibly adding a new bowl in a foreign country.Meanwhile, another source was quoted as saying: “The smaller 'Group of Five' conferences are exploring adding bowl games because they are being locked out by the big boys.”They're looking to create bowl games so their teams will have bowls for their bowl-eligible teams.”American football is becoming increasingly popular all around the world and the annual Superbowl – which features the two best teams in the National Football League (NFL) – is one of the most watched televised sporting occasions on the planet.In fact, some high-profile games have been staged in different countries in recent years and have pulled in sell-out crowds, most notably at London's Wembley Stadium.Although college football is not on the same level as NFL, it is still extremely well supported and is starting to attract more interest from outside the US.Some critics believe there are already too many bowls held each year, but moving one of college football's showpiece events to the Middle East could be a masterstroke.Dubai has already demonstrated the fact it is more than capable of hosting top-class sporting events, with major golf and tennis competitions taking place in the city each year. Rumours have also been circulating that the emirate could stage a high-profile boxing match later this year. Continue reading
