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Dubai Tourism eases holiday home regulations

Home owners in Dubai will be able to rent their properties directly without having to go through an approved operator after the emirate’s tourism agency updated regulations. Home owners in Dubai can now apply for a holiday home licence if they meet all criteria, Dubai’s Department of Tourism and Commerce Marketing (Dubai Tourism) said. They…

Only in Dubai: The ‘ultimate guarantee’ from real estate developers

Dh29bn in hand reflects confidence in the market, says Ghalita Some developers in Dubai are giving 100 per cent construction guarantee, which is the “ultimate guarantee” that any developer can give, Real Estate Regulatory Agency Chief Executive Officer told Emirates 24|7. “There are developers who have given 100 per cent construction guarantee and this is…

Dubai’s off-plan launches in recovery mode

Pace of new releases has picked up appreciably and so have buyer support Dubai: A quite sizeable 2,513 off-plan units were released in Dubai during the first three months, indicating that developers are shrugging off the inertia brought on by a market yet to revive itself in full. The Q1-16 closely tracks what the market…

Sobha Group, Umm Al Quwain to build $6.8bn island resort

The Government of Umm Al Quwain and UAE real estate developer Sobha Group are to build an AED25 billion ($6.8 billion) resort development on an island off Umm Al Quwain, the parties announced this week. The scheme, named ‘Firdous Sobha’, comprises a luxury seafront villa community, hotels and resorts, apartments, boutique shops, an 18-hole golf…