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Dubai’s homeowners want their say on short-term rents

The Oceana palm

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…

UAE to see higher growth this year

Dubai

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…

Why office rents are continuing to fall in Dubai

difc dubai

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,…