Opalesque Real Estate Briefing » Middle East and Africa

18.3pct price increase puts Dubai among world’s hottest property markets

Laxman — Tue, 14 May 2013 03:07:32 +0000

Dubai: Hiring spree as property market rebounds

Laxman — Tue, 14 May 2013 03:06:45 +0000

Property brokerage firms in Dubai are on a hiring spree with hundreds of new brokers likely to join company rosters in coming months. The local firms have stepped up hiring following Dubai property transactions rising 63 per cent to Dh44 billion in first quarter 2013 following rising global investor confidence in the emirate’s realty sector. (more…)

Dubai: Delinking valuations from real estate cycles

Laxman — Fri, 10 May 2013 02:37:58 +0000

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Real estate markets in the emirate of Sharja remain resilient says Cluttons

Laxman — Fri, 10 May 2013 02:37:23 +0000

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S.Africa: Commercial property values reach new highs

Laxman — Wed, 08 May 2013 01:39:24 +0000

Property values have fully recovered the ground that was lost during the last downturn and values are now one percentage point above their ‘07 highs. Commercial real estate values continue to benefit from a backdrop of low interest rates coupled with modest economic growth and it’s likely the upward momentum in values witnessed so far will be sustained. (more…)

Saudi houing market: Pros vs. cons

Laxman — Tue, 07 May 2013 02:41:20 +0000

According to the statistics that have been conducted in 2013 Saudi Arabia is a country of approximately 18 million citizens with a land area of about 1.96 million square kilometers (756,981 square miles). It has the second largest oil reserves, and the world’s biggest crude exporter, and also expects to become the top producer of refined products such as fuel and petrochemicals, so what’s the problem? Why can’t almost 60 percent of the Saudi citizens own their own houses given the fact that Saudi Arabia is a big country in the Arabian Gulf? (more…)

Dubai ranked world’s 2nd hottest property market in 2012

Laxman — Tue, 07 May 2013 02:41:05 +0000

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Dubai’s off-plan property demons return

Laxman — Tue, 07 May 2013 02:40:45 +0000

Damac Properties, one of the hardest-hit developers during Dubai’s real estate market meltdown five years ago, launched a 28 million-square-foot luxury villa and condo project on the outskirts of the city last month. To fund construction, the company is using a financing model that should be familiar to anyone who has experienced or read about Dubai’s bursting property bubble: off-plan sales. (more…)

S.Arabia: ‘Real estate authority needed’

Laxman — Fri, 03 May 2013 02:21:05 +0000

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Will series of Dubai mega-projects create market glut?

Laxman — Fri, 03 May 2013 02:20:48 +0000

The first phase of Mohammad Bin Rashid City is being promoted as a tourist destination but with a rush of similar entertainment, residential and retail projects announced recently, is there a danger of a glut in the market? Some analysts suggest that despite the return of mega-projects to the market, there is a more calculated approach by developers to execute them. (more…)

Doha property market stable

Laxman — Thu, 02 May 2013 01:44:53 +0000

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Dubai defies luxury property slowdown with 5.4 pct rise in prices

Laxman — Tue, 30 Apr 2013 02:20:53 +0000

Dubai has defied a global slowdown in the luxury property market after witnessing a 5.4 percent rise in prices during the first quarter of this year, according to Knight Frank. The emirate came fourth in a ranking of the world’s luxury property markets, behind only Jakarta, Bangkok and Miami in terms of price rises, the property consultancy said. (more…)

Sharjah residential rents rise 15pct since October

Laxman — Tue, 30 Apr 2013 02:20:35 +0000

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Bahrain residential property market seeing increased demand

Laxman — Thu, 25 Apr 2013 02:03:09 +0000

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Dubai’s real estate sector posts 16th straight month of steady recovery in March, Deutsche Bank says

Laxman — Wed, 24 Apr 2013 02:20:02 +0000

Signalling a return of investor confidence, Dubai property prices and rents recorded their sixteenth consecutive monthly increase in March, Deutsche Bank said in a press release on April 22. The global investment bank cited figures from its latest research report showing that apartment prices were up by 1.5 percent, while the cost for villas in the emirate increased by 1.6 percent from February to March. Rental values showed similar trends, with apartments up one percent and rental rates for villas rising 0.7 percent month on month. (more…)

Bahrain’s property market has bottomed out - CBRE

Laxman — Tue, 23 Apr 2013 01:43:56 +0000

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UAE: Property investors seek income generating assets

Laxman — Mon, 22 Apr 2013 02:14:05 +0000

Ultra-prime homes in some markets outside the region have become dearer, with values doubling over the last seven years, as the ultra-rich are shifting their capital to income-generating residential unitsAnalysts have noticed a shift in investor behaviour. Whereas before billionaires used to seek safe haven in real estate, they are now seeking to set up homes in locations that pay dividends. (more…)

Abu Dhabi rents slip 3pct in Q1, says CBRE

Laxman — Mon, 22 Apr 2013 02:13:53 +0000

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Dubai real estate market remains on growth track

Laxman — Fri, 19 Apr 2013 03:25:55 +0000

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Dubai housing market is seen bouncing back

Laxman — Fri, 19 Apr 2013 03:25:27 +0000

Another 40,000 new homes will enter Dubai’s property market over the next two years as developers revive projects stalled after the collapse of the emirate’s real estate market, a report said. The new properties to be built between 2013 and 2015 will represent 11 percent of the current stock of 357,000 units, consultants Jones Lang LaSalle said in a report on Dubai’s real estate market for the first quarter of 2013. (more…)

Cluttons in Oman: The Sultanate’s real estate sector is being driven forward by increased government spending

Laxman — Fri, 19 Apr 2013 03:24:47 +0000

Cluttons, the real estate specialist which has enjoyed a dedicated Middle Eastern presence since 1976, today releases its Q1 2013 property market report for Oman. The Sultanate’s economy continues to perform well and recent government figures indicate that the national GDP grew by 13.2% during the first three quarters of 2012. According to ratings agency Standard and Poor (S&P), the government budget will remain in surplus for the next two years, although it is strongly reliant on sustained oil prices. Fortunately, sector analysts are forecasting that oil prices will remain stable or even show a small increase this year. (more…)

King orders land and home loans for Saudis

Laxman — Thu, 18 Apr 2013 00:27:08 +0000

Custodian of the Two Holy Mosques King Abdullah has issued orders to grant citizens plots of land that have already been developed to build houses, and loans to construct houses on that land. The directive follows an earlier order of the King allocating SR250 billion to build 500,000 housing units for citizens without a home throughout the Kingdom. (more…)

Abu Dhabi home, office rents to fall on supply, CBRE says

Laxman — Thu, 18 Apr 2013 00:26:18 +0000

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Prime Abu Dhabi property prices up 8pct in Q1

Laxman — Wed, 17 Apr 2013 00:59:11 +0000

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Dubai property market rebounds

Laxman — Wed, 17 Apr 2013 00:58:23 +0000

A market report finds that an estimated 40,000 new homes will be available for buyers in Dubai over the next two years. Published by consultants Jones Lang LaSalle, the report shows that a number of new properties will be developed between 2013 and 2015, which would account for 11 percent of the 357,000 units envisaged by developers. (more…)

Abu Dhabi’s property market follows Dubai’s growth path: report

Laxman — Tue, 16 Apr 2013 00:26:27 +0000

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Dubai property market surges

Laxman — Mon, 15 Apr 2013 00:59:55 +0000

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Prime office rents rise in Dubai

Laxman — Mon, 15 Apr 2013 00:59:39 +0000

Property brokers have called the bottom of the Dubai office market as rents in the best-quality buildings began to rise for the first time in more than four years. Rents for prime offices in the city rose 10 per cent during the first three months of the year after falling in some areas by as much as half during the downturn, according to Jones Lang LaSalle. (more…)

Abu Dhabi’s property market follows Dubai’s growth path: report

Laxman — Mon, 15 Apr 2013 00:59:25 +0000

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Saudi real estate sector to see accelerated growth

Laxman — Thu, 11 Apr 2013 03:15:15 +0000

A recent study by Injaz Development Co. has pointed out that the Saudi real estate market is set to witness a sustained increase in demand and strong growth in line with the expected boom in other key sectors such as retail, manufacturing and construction, thanks to the upturn in the Saudi economy in the first half of 2013. The study indicated that these positive indicators are a result of the major development projects being undertaken in vital sectors in order to keep pace with the growing demand. (more…)

Positive signs in UAE property market

Laxman — Thu, 11 Apr 2013 03:14:59 +0000

There are positive signs in the UAE property market and investors have every reason to remain upbeat, according to a new report. Al Masah Capital explained in its Mena – Alternative Investment Strategy 2013 that demand for both residential and commercial real estate remains strong, with new projects continuing to come onto the market. This is thanks to economic improvements, a rising population and burgeoning tourism industry. (more…)

Prices soar for low-budget housing in Dubai

Laxman — Thu, 11 Apr 2013 03:14:42 +0000

Rising confidence in Dubai’s residential property market has helped boost prices for low-end villas by 20% over the past six months in the emirate, according to a new report by Cluttons. In its Q1 report, Cluttons said prices are also rising at the higher end of the residential market, just not as fast. Between Q3 2012 and Q1 2013, average prices for high-end villas in Dubai rose by 8.9%, while mid-range villas gained 14.9% over the same period. (more…)

S.Africa: House prices turn the corner

Laxman — Wed, 10 Apr 2013 03:29:59 +0000

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Dubai sees a rise in expat property owners

Laxman — Tue, 09 Apr 2013 03:24:08 +0000

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Value of razed properties without title deeds in Makkah put at SAR6bn

Laxman — Mon, 08 Apr 2013 00:47:52 +0000

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Can UAE’s new mortgage caps check speculation?

Laxman — Mon, 08 Apr 2013 00:47:37 +0000

If Sultan bin Nasser al Suwaidi has his way, by the end of this year it will be that little bit harder for people in the UAE to buy their own homes. The central bank governor is preparing to impose new limits on the amount that anyone can borrow to buy a house or apartment in an effort to prevent a return to the days of uncontrolled property speculation which proved so damaging in the past. (more…)

Emiratis to get 48,000 plots

Laxman — Mon, 08 Apr 2013 00:47:22 +0000

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Dubai property market still benefiting from Arab Spring, Euro and Cypriot crisis

Laxman — Fri, 05 Apr 2013 03:16:27 +0000

All residential developments in Dubai, especially those with quality buildings or those in prime areas, have continued where they ended 2012 with a strong Q1 2013 performance. Apartment sale prices grew on average by 12% in the three months to the end of March 2013, standing at 27% year-on-year growth. In comparison, although average villa sales prices only climbed 5% in Q1 2013, growth averaged 24% over the past 12 months. (more…)

Indian expatriates drive Dubai’s property growth

Laxman — Fri, 05 Apr 2013 03:16:05 +0000

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Saudi housing units on installment basis proposed

Laxman — Tue, 02 Apr 2013 01:24:01 +0000

The Shoura Council Housing Committee plans to submit a proposal on the construction and sale of housing units to employees on installment within the next two weeks. The proposal, prepared by Zainabdeen Barri, a former Shoura Council member, is based on a government plan to build housing units of different sizes whose costs will range between SR 500,000 and SR 1 million. (more…)

Dubai property ‘recovering strongly’

Laxman — Tue, 02 Apr 2013 01:23:45 +0000

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Dubai Marina leads UAE property market

Laxman — Wed, 27 Mar 2013 01:42:43 +0000

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South African property sector records positive returns amidst wider market turmoil

Laxman — Tue, 26 Mar 2013 01:42:48 +0000

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The reality behind Dubai’s property recovery

Laxman — Tue, 26 Mar 2013 01:42:16 +0000

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Saudi: New property law favors consumers, says law firm official

Laxman — Mon, 25 Mar 2013 01:25:49 +0000

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Saudi King gifting land undercuts homebuilding promises

Laxman — Mon, 25 Mar 2013 01:25:34 +0000

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Women invest Dh13.3bln in Dubai real estate market

Laxman — Mon, 25 Mar 2013 01:25:16 +0000

Female investors spent Dh13.3 billion on property in Dubai last year, representing 23 per cent of the emirate’s real estate market. According to data from the Dubai Land Department (DLD), 5,434 women invested in property. This was only a slight increase from last year when 4,704 female investors poured Dh10.5 billion into the real estate market, making up 22 per cent of total investments, the DLD said. (more…)

Ajman property deals up 50pct

Laxman — Fri, 22 Mar 2013 03:34:16 +0000

Total value of property transactions in Ajman jumped by 50 per cent to Dh300 million in 2012 compared to 2011, signaling a recovery in the market. “The property market is witnessing a large interest from Gulf Cooperation Council investors and has been aided by recovery of the market in Dubai,” Yafea Eid Al Faraj, Executive-Director, Ajman Real Estate Regulatory Agency (Arra), said. (more…)

Lack of regulatory framework weighs on Saudi property market

Laxman — Wed, 20 Mar 2013 01:23:14 +0000

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Housing inadequate for 30pct of Saudis

Laxman — Tue, 19 Mar 2013 01:14:29 +0000

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Saudi: ‘Do not inflate housing issue’

Laxman — Mon, 18 Mar 2013 03:32:29 +0000

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Dubai luxury villa prices up 20pct in 2012

Laxman — Fri, 15 Mar 2013 01:42:30 +0000

Property prices in Dubai rose the second highest globally, registering a 20 per cent increase in 2012, a new global report has confirmed. “Dubai stands out with strong growth of 20 per cent in the price of luxury villas during 2012… the emirate rebounded in 2012 on the back of a resurgence in demand,” Knight Frank, a global property company, said in the Wealth Report 2013. (more…)

Saudi real estate weighs funding for project, chief says

Laxman — Wed, 13 Mar 2013 01:06:44 +0000

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Saudi property market to be opened up to foreign lenders

Laxman — Mon, 11 Mar 2013 03:25:00 +0000

The residential property market in Saudi Arabia is set to be transformed with the country’s central bank allowing foreign companies to provide mortgages, it is claimed. There is huge demand for homes in the country but until now getting funding has been difficult. Now a draft law approved last year is set to open up the market. (more…)

Prime property cheaper in Dubai than Monaco, Mumbai

Laxman — Mon, 11 Mar 2013 03:24:44 +0000

Even though luxury property prices in the UAE climbed by around 20 percent in 2012, it remained more affordable than some of the other top global cities. The Wealth Report 2013, prepared by Knight Frank, a global property company, shows that the price of prime luxury property in Dubai as at least 10 times lower than Monaco, the world’s most expensive residential property market. (more…)

Dubai records second highest property price rise in the world: report

Laxman — Mon, 11 Mar 2013 03:24:24 +0000

Luxury property in Dubai recorded the world’s second highest price increase last year, according to international property consultancy group Knight Frank. The value of top end homes in the emirate rose 20 percent, equal to the island of Bali and behind only the Indonesian capital, Jakarta, which saw luxury property prices increase by 38.1 percent. (more…)

Bahrain to build 6,000 houses in 6 months

Laxman — Thu, 07 Mar 2013 01:23:22 +0000

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Jeddah to level mountains to create residential areas

Laxman — Thu, 07 Mar 2013 01:23:05 +0000

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Saudi stresses on quality as new units come online

Laxman — Wed, 06 Mar 2013 01:02:03 +0000

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Saudi’s property market valued at over $500bln

Laxman — Tue, 05 Mar 2013 01:29:46 +0000

The level of investments in real estate projects in Saudi Arabia has been valued at around $533bn (SR: 2tn), according to the chairman of Taifah Al-Aqar. Khaled Al-Ghamdi said that housing is one of the major problems facing the Kingdom, with the city of Jeddah alone requiring one million new units by 2020 as the population rises, according to Arab News. (more…)