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Where property prices, rents are falling fastest in Dubai

Potential investors and tenants in Dubai are set to reap the benefits of competitive pricing and rental rates as several off-plan projects launched between 2014 and 2016 are delivered, according to Chestertons. Its Dubai Market Report Q1 2019 said that in the sales market, the downward pressure on prices witnessed throughout 2018 has continued into…

Co-working industry opens opportunities for landlords

Some 7 million people are expected to be working in co-working spaces by the end of the year. Currently there are 15,000 co-working spaces in the world. In a recent report, Colliers said it expects a minimum of between 320,000 sq ft and 530,000 sq ft of space dedicated to this new subclass of office…

DAMAC Properties announces Dh6.1bn total revenues

DAMAC Properties Dubai today announced its final financial results for the year ended 31st December, 2018. The company reported total revenue of AED6.1 billion, while net profit stood at AED1.15 billion. Booked sales for the same period were reported at AED4.3 billion, total assets stood at AED25.2 billion, while shareholders’ equity amounted to AED14.1 billion,…

Dubai developers push post-handover plans even on ready homes

Anywhere from 3- to 10-year plans are available at some of the most popular communities Dubai: Don’t want to wait around for an off-plan property to be delivered? Options are opening up for buyers going for a ready property in Dubai and with the added comfort of paying it off years after the handover. That’s…