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Sales of off-plan homes in Dubai up 45% in Q1

This is due to the increase in incentives and payment plans created by developers Dubai witnessed a 45 per cent increase in the number of transactions for off-plan properties in Q1, according to Chestertons. There was also a four per cent rise in the number of transactions for ready properties and a 25 per cent…

Azizi awards $460m construction contracts for Meydan One

Azizi Developments has awarded two construction contracts, worth a total of $460m (AED1.7bn), to build 35 apartment blocks within Dubai’s Meydan One The contracts, which have been awarded to KCC Engineering Construction & Maintenance and Actco General Contracting, relate to two of the four phases of the project that are due to begin this year….

Impact of VAT on UAE property: A halfway house

Buyers/tenants of commercial property who are VAT-registered can recover the tax charged While new tax is unwelcome for end-users, there is no escaping the levy of value added tax, come January 1, 2018. Even as skeletal details have emerged about the VAT framework and sectors that will be exempted and zero-rated, consumers and end-users must…

DUBAI’S TOURISM HAS KICKED OFF 2017 WITH A 12 PER CENT YEAR-ON-YEAR GROWTH OVER THE FIRST TWO MONTHS THIS YEAR

The Department of Tourism and Commerce Marketing (Dubai Tourism) report that Dubai has welcomed just over three million visitors, which is nearly four times the rate of the previous year. Recent policy changes offering free on-arrival visas to Chinese and Russian citizens have fuelled the immediate spike in visitor traffic, with support coming from growth…