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Dubai: Not everyone in Dubai’s property market is thrilled about landlords offering short-term rentals. The residents at the Oceana on the Palm definitely aren’t. The Owners Association (OA) at the recent annual general meeting set penalties on any owner allowing his unit to be leased on a short-term basis. Unlike at other communities, the contractual…
The buyer of a six-bedroom villa on Saadiyat Island became the first foreigner to receive a freehold title deed from Abu Dhabi Municipality on Thursday, according to the real estate consultancy Henry Wiltshire International. Long-term Abu Dhabi resident Sami Ghandour, 69, an engineer born in Jordan but originally from Palestine, was handed the document by…
The UAE economy is projected to grow faster this year, which would be third consecutive year of higher growth annually, official figures showed on Tuesday. According to the UAE Central Bank’s annual 2018 report, the UAE economy grew 0.5 per cent in 2017 and 1.7 per cent in 2018. It is forecast to expand 2.0…
Weakened demand and increased supply are pushing office rents in Dubai lower in the first quarter of 2019 Weakened demand and increased supply are pushing office rents in Dubai lower in the first quarter of 2019, according to new research. Knight Frank said average office rents fell by 4.3 percent in the year to March,…