Tag Archives: exclusive
Dubai property prices rise for 16th straight month
Property prices in Dubai increased for a 16th consecutive month in March, a new report has shown.Deutsche Bank confirmed that the average asking price went up by 1.5 per cent on the previous month, which highlights the scale of the recovery within the sector over the past year or so.Property prices have risen by 6.2 per cent so far in 2013 and experts are fully expecting this figure to increase as the year progresses.Although prices are still way down on the peaks seen before the economic downturn in 2008, it is encouraging to see things moving in the right direction.Unsurprisingly, properties in certain parts of the city performed better than others, although there are signs that less fashionable regions are also starting to gain favour among investors. Overall, the average asking price for a villa was up by 1.6 per cent in March month-on-month, while apartments were selling for an extra 1.5 per cent.”The price recovery that started in late 2011 in prime properties is now spreading to second tier communities,” research analyst Athmane Benzerroug commented in the Deutsche Bank report.”Despite new supply, investor confidence remains strong, while main master developers are accelerating project launches.”Indeed, construction firms that were forced to shelve projects when the economy collapsed five years ago are now resurrecting their plans and this is giving investors lots more choice.This is not the only study that has highlighted an upturn in the UAE's real estate markets.Friends Provident International (FPI) recently revealed that investors are feeling increasingly comfortable in Dubai and many people have turned their attention away from safe assets such as gold in favour of pouring their money into property.Matthew Waterfield, FPI's general manager for the Middle East and Africa, said it is no surprise to see Dubai-based buildings selling so well, as this is a trend that had been steadily emerging in previous reports conducted by the company.The First Group can help you find apartments for sale in Dubai Continue reading
Dubai International Airport ‘will remain a top priority’
Ruler of Dubai Sheikh Mohammed bin Rashid Al Maktoum has insisted that the expansion of the city's main airport will continue to remain a priority.The UAE prime minister recently visited the aviation facility and he was happy with the work that has taken place in Terminal 2.Once the new hall opens on April 29th, the state-of-the-art terminal will be capable of accommodating 7.5 million passengers a year.More than 57.6 million people passed through the airport last year and this figure is expected to rise to 66 million in 2013. The overall capacity of the airport has increased to 75 million passengers per year and it is predicted to be the busiest aviation hub on earth in the next few years if current rates of expansion persist.Mr Al Maktoum was quoted by the WAM news agency as saying that Dubai International “represents the face of the country and is the symbol of its culture and progress”.He also paid a visit to the Dubai Airport Free Zone (DAFZA), which continues to attract scores of influential investors.The facility was first established in 1996 as part of the government's plans to move the city towards an investment driven economy and it is now home to more than 1,600 companies from a range of sectors, including freight and logistics, IT and aviation.There are many incentives for firms to set up a base in the DAFZA, as they receive 100 per cent exemption from corporate tax, import and export duty and personal income tax. This perhaps explains why so much money has been poured into the area in the past 17 years.Mr Al Maktoum toured a number of the buildings that have sprung up throughout the free zone and he was clearly very impressed with what he saw.”The success achieved by the DAFZA is a first step forward for more progress in the way of excellence that we thrive,” he added. Continue reading
RTA plans better transport links between Dubai and Sharjah
Dubai's Road and Transport Authority (RTA) is said to be planning new water buses that will link the city with the neighbouring emirate of Sharjah.Speaking to the Khaleej Times, chief executive officer of Public Transport Agency at the RTA Dr Yousif Mohammed Al Ali said some feasibility studies are being carried out.Although Sharjah is less than 20 km away from Dubai, the main road that links the two cities can become quite congested and journey times rise significantly during peak periods.Both emirates are based on the coast, so it should be easy enough to put on boat services between the destinations, which will help to relieve some of the strain on the road network.The need for new modes of public transport has become more pressing, as experts believe that Dubai's population will continue to grow sharply in the coming years.”Currently, there are inter-city buses connecting Dubai and Sharjah and we see no reason why there would be no possibility of developing marine transport on similar lines,” Mr Al Ali was quoted as saying.”It is part of the RTA masterplan to improve the public transport network and develop the different modes of transportation. However, it would be too early to announce a date when any new routes would take effect,” he continued.The UAE's transport infrastructure has coped remarkably well with the huge number of people moving to Dubai and other parts of the country in recent years.Airports in Abu Dhabi, Dubai and Ras al Khaimah have all been very busy and air links between different emirates have improved considerably.In Dubai itself, there have been talks of a major expansion of the already-impressive Metro network, which connects numerous important business districts and other popular points of interest with residential areas.The RTA is very ambitious and its future plans will undoubtedly make the emirate even more attractive to investors and people who are considering relocating to the Middle East on a permanent basis. Continue reading
