Real Estate

Abu Dhabi / WAM The Abu Dhabi City Municipality has called upon property developers to expedite the registration of their real estate development projects under the Real Estate Regulatory Law No. 3/2015. A statement to this effect was made during a meeting with escrow account managers and developers and licensing of property units team at the Municipality. Attendees of the ...

Bloomberg Riskier US mortgages are creeping back into the bond market again. The loans in question are nowhere near the toxic mortgages that brought down the financial system last decade. But they’re being made to people with lower credit scores and with more debt relative to their income. And in separate transactions tied to rental homes, Wall Street banks are ...

Bloomberg Sun Hung Kai Properties Ltd.’s record HK$25.2 billion ($3.2 billion) purchase of a coveted plot near Hong Kong’s former airport signals that the city’s developers are brushing off concern that expected rate increases will damp the red-hot housing market. Sun Hung Kai beat out bidders including units from CK Asset Holdings Ltd. and Henderson Land Development Co., paying almost ...

ABU DHABI / WAM British nationals have invested $8.47 billion (AED31.1 billion) in Dubai’s real estate during the last four years (2014-2017), according to the statistics released by Dubai Land Department (DLD). The United Kingdom is one of the largest investment source markets for Dubai’s real estate. Following the Brexit vote in 2016 and subsequent move for separation from European ...

Bloomberg A gauge of UK house prices dipped to its lowest in more than five years last month, according to the Royal Institution of Chartered Surveyors, with the slowdown most acute in London and the southeast. RICS’s gauge of prices dropped to minus 8, the lowest since November 2012, the organization said in a report. The descent into negative territory ...

ABU DHABI / WAM Aldar Properties has announced that it reached an agreement with Tourism Development & Investment Company (TDIC) to acquire a portfolio of prime real estate assets worth AED3.7 billion, in one of the largest real estate acquisitions in the country’s history. Aldar has acquired assets located in key destinations, with a focus on Saadiyat Island. This comprises ...

Bloomberg In Manila’s main financial district and its fringes, signs of the new inhabitants are everywhere: the restaurants serving steaming Chinese hotpots and dumplings, the Mandarin broadcasts at the Mall of Asia, and the soaring property prices. An estimated 100,000 migrants, mostly Chinese, have flooded into pockets of the Philippines capital since September 2016, and the deluge is rippling through ...

DUBAI / WAM Emaar Properties recorded revenue for the first three months of 2018 of AED5.586 billion ($1.521 billion), 37 percent higher than Q1 2017 revenue of AED4.072 billion ($1.109 billion). This was led by significant progress achieved on projects under construction and the growth in malls and hospitality businesses. Emaar’s net profit grew by 20 percent to AED1.665 billion ...

Bloomberg Hong Kong may dig deep to reverse the city’s chronic shortage of land for building, adding underground caverns to the mix of options aimed at creating more housing in the world’s most expensive property market. It’s an option, according to a government body trying to come up with more land for development. Facilities such as sewage plants and reservoirs ...

Emirates Business Mohamed Alabbar, Chairman of Emaar Properties, on Wednesday announced the launch of the company’s first hotel and residences project in Ras Al Khaimah, at the Arabian Hospitality Investment Conference 2018. Located in the Views island of Al Marjan Island, a four-island mega-development, Address Al Marjan Island hotel and residences will be managed by Emaar Hospitality Group’s premium lifestyle ...