No doubt Dubai is making great strides in establishing itself the most innovative city in the world, but in order to successfully achieve its target, the emirate needs to improve itself in many fields. In 2014, the UAE Government declared 2015 as “Year of Innovation,” and announced a National Innovation Strategy aiming at ranking the country among world’s most innovative nations within a 7-year period. Read more
Dubai, the shopping capital of the world, is determined to move forward with its plans of developing the world’s largest shopping mall despite hurdles created by the global economic slowdown. The developers of The Mall of the World project have announced going ahead with its development, but would assess market demand before proceeding to project’s later stages. Read more
The team at Bayut.com is a firm believer in cultivating long-lasting relationships with professionals steering UAE’s real estate industry forwards and continuously endeavors to bring real estate agencies together for the greater good of all.
Bayut’s Breakfast Event is one such activity that draws closer professionals from leading real estate agencies and gives attendees an opportunity to learn from each other’s experiences in the growing industry. Read more
The year 2016 has started with a renewed investor confidence in Dubai’s real estate market. Not only did the market successfully see off a rather tough year, it also saw the rumours of 25,000 anticipated residential units flooding the market with supply dying a natural death.
But as rent remained strong throughout 2015, Bayut noted residents increasingly favouring mid-end localities for renting apartments in Dubai in January 2016. The mixed picture presented by the online database of Bayut.com showed residents favouring localities from all classes. There were slight shifts in tenants’ interest, but that was probably due to rental contract expiry and subsequent shift of residents to other units.
In January 2016, the top five localities for renting apartments in Dubai were: Read more
Not more than one family allowed in residential unit
The phenomenon of professionals, including bachelors, relocating to Abu Dhabi and taking up residence here is becoming a pressing issue for Abu Dhabi City Municipality (ADM). Scores of foreign workers converge on the emirate in search of jobs since it holds great promise of economic prosperity, but the same also leads to overcrowding of residential units, thus creating security, safety and health issues. Read more
Dubai’s appetite for towering structures appears served on the surface, but it’s not. There is no stopping developers coming up with novel ideas that produce architectural masterpieces and add glamour and utility to the city’s already impressive skyline.
If you have properties in Abu Dhabi, just don’t leave them empty and abandoned or you may face a hefty fine by the government authorities. The government of the UAE takes public health and environment seriously and sees abandoned buildings as a breeding ground for rodents and insects. Read more
As calls for affordable housing have been gaining strength in Dubai, many real estate developers have taken the plunge into the untapped real estate segment. The latest in the series is luxury developer Sobha Group, a name traditionally been associated with premium developments. Read more
Rebuilding from the ashes of 2008’s market crash, Dubai’s property market started its ascent in 2013 after renowned developers started offering luxury properties at economical rates. The elite, seeking investment safe havens, flocked to the emirate and invested in its high yielding luxury property options. Such became investors’ interest that the government had to place cooling measures to prevent the market from overheating and forming an inflationary bubble. Read more
Master developer’s profits soar to $1.19 billion in 2015
Although the year 2015 proved a bit of a bumpy ride for the real estate sector in Dubai, there were indeed many bright spots that kept the market alive with activity. One, the rental returns across Dubai kept investors interested in the realty sector and second; the price stabilisation in the market meant many more investors were drawn in by the lucrative yields Dubai kept returning. Read more