Tag Archives: dubai property news
Is Amir Khan set to appear in Dubai?
Boxing promoters are lining up a major fight between Amir Khan and Devon Alexander in Dubai.Chief executive of Golden Boy Richard Schaefer told the Daily Mail that he will head out to the Middle East to cast his eye over potential venues for the bout between the British and American welterweights.Dubai is becoming a major player in the world of sport and securing the rights to host such a high-profile boxing match would only increase the city's stature.Khan – who competed in the Olympic Games before turning professional – is one of the hottest properties in global boxing at the moment and he hopes to eventually get a shot at the undefeated Floyd Mayweather Junior, who is widely considered to be one of the best pound-for pound fighters of all time.However, the 26-year-old must first overcome Alexander, which will be no easy task.Mr Schaefer suggested that Khan and Alexander will battle it out for the IBF world welterweight title on December 7th.”We have opened discussions with the ruling family of the [United Arab Emirates] who have made it very clear that they are keen to put on a major boxing event,” he was quoted as saying.”This is very exciting for Amir and all of us. If he defeats Devon, preferably in style, the next step for him would be against Floyd.”Dubai is also set to host its first major boxing match later this month, when Chinese star Xiong Zhao Zhong defends his WBC Straw-weight title against the Philippines' Denver Cuello.The encounter will take place at the Dubai World Trade Centre on June 28th and it will be broadcast to millions of viewers around the world.This will certainly be an intriguing bout, as boxing experts have high hopes for Cuello, who has been likened to fellow countryman Manny Pacquiao.Rumours had been floating around that Pacquiao himself was being lined up for a money-spinning fight in the UAE in late 2013.Although nothing has yet been agreed, the Filipino superstar has confirmed that he is looking for venues outside the US and his team suggested that Dubai is an option. Continue reading
DTCM chiefs outline ambitious tourism plans
Leaders of Dubai's Department of Tourism and Commerce Marketing (DTCM) have outlined ambitious plans that are aimed at boosting the number of people visiting the emirate.Chief executive officer of strategy and tourism sector development at the DTCM Dr Ahmad Belhoul told Emirates 24/7 that money spent by holidaymakers currently accounts for five per cent of the city's gross domestic product and he is hoping this will reach double figures by 2020.Although 66 million people are expected to fly into Dubai International Airport throughout 2013, many of this number will be business travellers or merely stopping over on long-haul flights to places like Australia.Dr Belhoul hopes that a wave of exciting new projects – such as the Al Fahidi historical district redevelopment – will encourage more people to stay in the emirate. He is targeting 20 million annual visitors in the next seven years.”The average tourist in Dubai spends [between] $250 and $300 (£164 and £197) per day, with annual income generated at AED 600 million (£107 million). Our plan is to increase this number to AED 840 million by 2015,” he was quoted as saying.In order to reach its target, the DTCM is looking to diversify Dubai's tourism offerings, giving visitors a lot more to explore.Mr Belhoul continued: “In the past, the core strength in tourism has been beach holidays, shopping and sightseeing. To hit the 20 million tourist figure, we are looking at different targets where gaps remain.”The emirate will focus particularly closely on promoting sports and heritage trips and a lot of emphasis is being placed on cultural tourism too.Numerous studies have shown that Dubai is already an immensely popular place to take a holiday and the city was recently hailed as the leading destination in the Middle East at the prestigious World Travel Awards.The emirate will also benefit from the plethora of brand new upmarket hotels and resorts that are being built throughout the area. Continue reading
Dubai apartment rents rose in Q1, report shows
The incredible demand for luxurious apartments in Dubai enabled landlords in most parts of the city to increase their rents in the first quarter of 2013.A new report by Bayt.com suggested that people are falling over themselves to rent out plush apartments in exclusive areas and this is playing right into the hands of savvy property investors.Downtown Dubai is still one of the most popular regions and landlords have had no trouble finding long-term tenants who are willing to pay a premium to live in such a nice part of the sheikhdom.Indeed, the average rent on a studio apartment in Downtown Dubai rose by 2.3 per cent in the first quarter of 2013, while the asking price for one and two-bedroom properties went up by 4.2 per cent and 4.7 per cent respectively.Unsurprisingly, the Palm Jumeirah has also proven to be a hotspot for property investment in recent months and this latest report explains why this is the case.Rental prices soared by an astonishing 27 per cent year-on-year and this was mainly attributed to the strong demand coming from high-earning expatriates.The Dubai Marina is also as popular as ever, although rent increases have plateaued slightly due to the sheer number of beautiful new buildings being erected in the area. That said, demand is still robust and investors can expect to see rental rates go up again in the near future.According to Bayt.com, the villa market also performed very well in the first quarter of 2013, with sale and rental prices on the up.As such, it is no real shock that Knight Frank recently included Dubai among its top five real estate markets on the planet.It stated that only Jakarta, Bangkok and Miami could compete with the emirate when it came to property price hikes, as the value of luxurious buildings in Dubai rose by an impressive 18.3 per cent between March 2012 and the same month this year.The First Group can help you find apartments for sale in Dubai Continue reading
