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Dubai’s Damac hands over first Sharia compliant property

damac

Ghalia houses 727 fully furnished, luxury apartments and is located in the heart of the Jumeirah Village Circle. Ghalia, Damac’s first Sharia compliant offering, has entered the handover phase with the first residents being welcomed. The development houses 727 fully furnished, luxury apartments and is located in the heart of the Jumeirah Village Circle community….

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…