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UAE to see higher growth this year

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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

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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,…

Dubai house prices retreat 1.5% month-on-month

The average annual house price in Dubai decreased by 13.2 per cent, with some communities registering even higher price declines, according to Property Monitor’s Dubai House Price Index for April 2019. Prices also retreated 1.5 per cent month-month and were down 4.9 per cent during the first three months of the year compared with the…

48,000 residential units to be available ahead of Expo 2020

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Dubailand and Business Bay will see a lot of activity. Developers are expected to ramp up construction on 136 ongoing development projects in Dubai ahead of Expo 2020 to deliver at least 25 per cent more residential units this year, says a report.   Latest report compiled by Property Finder shows that at least 48,015 freehold…