Emaar has said that it would defer its debt maturing this year by converting it into long term project financing arrangements. It also mentioned that by delaying the payments, the pressure on Emaar would ease a lot. Emaar had a large sum of $4.5 billion Dirham of debt to pay in FYE 2010. Emaar is [...]
As the new laws have been introduced into the Dubai real estate market, it has took many turns. One of the most talked about cases recently put up by a German Investor named Lothar Hardt, against the real estate developer Damac Properties has been turned down by DIFC ( Dubai International Finace Center) as expected. [...]
As the new laws on real estate have kept coming in the real estate market of Dubai, different parties have started stepping forward to claim for their violated rights and breaches by benefiting from the laws sprung up. Recently a group of 30 investors have filed a case against the developer named Union Properties for [...]
Nakheel one of the largest developers of real estate in Dubai has finally handed over the sixth and the final tower at Marina Residences which was under construction. Shimizu Corporation, one of the largest contractors of Japan is the constructor, this project was started last year. Group Managing Directory Nakheel, Marwan Al Qamzi, expressed satisfaction [...]
The Real Estate Regulatory Agency of Dubai has introduced a new law for the registration of lease contracts. Under this law every lease or rental agreement has to be registered on the newly formed Ejari e-registration portal. There have been many irregularities in the past regarding the registration of the contract, which have lead to [...]
Dubai World debt has been on the news since the crises came to public attention. Nearly 100 inquiries have been put to the special tribunal set for the Dubai World to get their money back from the giant conglomerate. The tribunal is said to be fully operational. Registrar of the tribunal & International Finance Centre [...]
Lately, there have been a lot of uncertainties enveloping the Dubai debt crises. The recent debt speculation of Dubai World was not less than a blow to the revising confidence of real estate investors in 2010. Different media have represented the picture differently. There are however, a lot of good things happening in Dubai, which [...]
Arabtec has won a contract worth Dh710m to build a huge building with 80 stories in Dubai. The new building will include a lot of amenities for the residents of the building. It will also boost a five start hotel for the visitors, furnished luxury apartments, and offices as well. The new building will be [...]
The Prime Minister and Vice President of the UAE His Highness Sheikh Mohammed bin Rashid Al Maktoum as ruler of UAE announced a decree regarding the renting values of properties in Dubai in 2010. This has been welcomed as a positive sign and is expected to go a long way in building a friendly relationship [...]
Doing business in foreign lands is not an easy venture. There are many external factors that matters before the investor’s confidence starts building up. One of the main issues that really matters is the support of law for the foreigners as well as domestic investors. Until law protects and safeguards the interests of the investors, [...]