The Pinkwater Report

Dubai

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Dubai’s remarkable architecture and world-class hotels are getting a lot of attention from the West, and its visionary leadership and speed of innovation have the potential to put it at the vanguard of international property development trends. Having won the bid for the 2020 World Expo has put Dubai, even more, in the forefront of innovation and a master plan is being built to be ready for that very important time. These are exciting years for Dubai!

 

 

 

 


 More on Dubai…

Nakheel has also announced the Palm Promenade project, which will stretch 1.5 kilometres along the island’s trunk, with new walkways and road crossings. Courtesy Nakheel

New property projects at Cityscape Global 2015 in Dubai – Photos

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Investors in gulf property look forward to a less bumpy market

Dubai is the ultimate case study for anybody who wants to comprehend the profound influence that the globalization of wealth exerts on the world’s property markets. Muraba Residences, photo courtesy Pinkwater Select Over the past decade, Dubai has been on a real estate roller-coaster ride of boom, crash and recovery. Property values halved between 2008 and 2010, but then rose to regain most of their losses by 2014. In common with other global property markets thought to have been at risk of overheating, Dubai’s market regulators, wielding mortgage caps and a doubling of transaction fees, stepped in to reduce speculation. This,

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World’s first ultra-luxury atolls to be built in the Maldives, Dubai and Miami

Wealthy holidaymakers who are looking to sink a ton of cash in a private getaway spot will soon be able to buy their own portable island. Christie’s International Real Estate announced plans for the world’s first floating islands, built in the Maldives first, The chain of artificial atolls, called Amillarah Private Islands, will be ‘ultra high-end’, self-sufficient and eco-friendly’; buyers will be able to customize their island to their liking, with renderings showing multi-level luxury pads. While the price hasn’t been revealed, the chain of artificial atolls, called Amillarah Private Islands, will be ‘ultra high-end’, self-sufficient and eco-friendly, said Christie’s. Read

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120 new Dubai property projects launched in two years

A total of 120 new projects were launched in Dubai in the past 24 months, with investors being drawn to the off-plan market due to attractive prices and payment plans, according to a local real estate portal. “The Dubai market witnessed 120 new project launches in the last 24 months,” said Eric Hodges, Head of research, Lookup.ae. Emaar Properties, Nakheel, Damac Properties, Meraas Holding, Meydan and Dubai Properties have announced the maximum number of launches. He stated that the market for ready properties had cooled down after appreciating an average of between 35-45 per cent since 2012. He added that

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Brit Buyer Spends Record 12 Million Pounds On Dubai Villa

British businessman purchases Dubai’s most expensive property

A British businessman has splashed out a record-breaking £12 million for a luxury villa on Dubai’s famous Palm Jumeirah island. The unnamed millionaire, who is said to be of Indian origin, purchased the custom-designed home on the artificial archipelago as a long term investment. The six bedroom, seven bathroom 13,000 square feet property is called M State and includes a 167 foot private beach, a 55 foot infinity swimming pool and a cinema room. Read more at The Daily Mail

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Dubai Likely to Continue Residential Market Rise

Though some fear a bubble, it seems unlikely that Dubai’s luxury residential properties will see a major decline in the next year, A survey of 200 business executives asked whether the area is likely to suffer a correction, but 84% believe prices will not plunge. Investors may recall a dive in 2008/2009. Joao Cocco, London Business School, Professor of Finance, says, “The vast majority of executives surveyed do not believe that there will be a drastic decline in residential real estate prices in Dubai over the next 12 months. Only 3% of those surveyed expect an annual decline larger than

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Renewed interest in newly-built premium properties across the UAE

Sanjay Chimnani, Managing Director, Raine & Horne Dubai, notes that the five-star freehold development also offers international investors a guaranteed annual return with access to the Anantara Hotel Rental Management Scheme. “The Dubai Land Department has doubled the registration fee to 4%, which has effectively eliminated speculators in the market. So with a potential timeline of up to four years between purchase and property handover, some prospective buyers are concerned as to whether the end product will match the sales brochure in terms of finished build quality and maintenance standards. Read more at Zawya.com

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Dubai developer to promote properties to Chinese buyers

Dubai-based prominent real estate developer Damac Properties has inked a deal with a Chinese property broker to promote its 37,000 properties inDubai to Chinese investors. Beijing-based property broker 5i5j employs nearly 30,000 real estate sales professionals and boasts of “selling a unit every four minutes”. The deal underlines how Chinese investor interest in Dubai real estate is growing. Read more at Global Property Guide

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Investors in Downtown Dubai have some thinking to do

Downtown Dubai, once a desert landscape, has evolved into one of the finest and most prestigious locations in the UAE and the region. Properties in the area are definitely higher up in the pecking order on an investor’s checklist. Home to the world’s tallest tower and the largest shopping mall, Downtown Dubai has truly acted as a magnet for international investors. Read more at Gulf News

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Dubai realty weighed down by luxury launches

Dubai property market weighed down by luxury launches

    Dubai: If the pace of new project launches is maintained, it could set off an imbalance in Dubai’s property market within five years, according to a new report issued by Phidar Advisory, a consultancy. “In the base case scenario, assuming an average GDP (gross domestic product) growth of 3.4 per cent and residential demand CAGR (compounded annual growth rate) of 4.6 per cent, if all of the announced projects are completed, the market could achieve a 7 per cent oversupply in five years,” the report states. “If stalled projects restart, the projected oversupply increases. Even a more bullish

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