Real Estate

Dubai / Emirates Business Dubai Land Department (DLD) announced a new cooperation and strategic partnership agreement with Medallion Associates LTD. The agreement was signed by His Excellency Sultan Butti bin Mejren, Director General of DLD, and Masood Al Awar, Chairman and CEO of Medallion Associates LTD, in the presence of senior officials from the two companies and a number of ...

DUBAI / Emirates Business Off-plan real estate transactions in Dubai increased 60% in 2017, compared to 2016, according to the latest Observer: Dubai Q4 2017 report from leading international property company Chestertons MENA. The figures follow a steep increase in the volume and value of off-plan transactions in the second half of the year, with Dubailand, Business Bay and Al ...

Bloomberg Some borrowers with interest-only mortgages may lose their homes as a result of shortfalls in repayment plans, the UK’s Financial Conduct Authority warned. The FCA has identified three peaks in interest-only mortgage repayments, the first of which is currently underway. Defaults are less likely in the present wave of maturities because the homeowners are approaching retirement and have higher ...

Bloomberg The only thing that might be colder than Toronto in January is the Canadian city’s housing market. While the bleak mid-winter is never the best time to sell a home in Canada, a string of open houses in the country’s largest city were chillingly empty on a recent afternoon. Tougher mortgage rules went into effect on January 1 just ...

Dubai / WAM The Dubai Land Department (DLD) has launched its 2018 real estate promotion plan for the Real Estate Investment Management and Promotion Centre, the department’s investment arm. DLD held a press conference in the presence of Sultan Butti bin Mejren, Director-General of DLD, Majida Ali Rashid, Assistant Director-General and Head of the Real Estate Investment Management and Promotion ...

Bloomberg A clear winner is emerging among Chinese equities this year, whether in Hong Kong or Shanghai: real estate. Property firms account for eight of the 10 best performers on MSCI Inc.’s gauge of offshore Chinese shares in January, while developers have rallied the most among industry groups on the Shanghai benchmark. Shimao Property Holdings Ltd. has led the charge ...

Dubai / Emirates Business Azizi Developments, one of the fastest growing developers in the UAE, has announced that it will continue its fast pace of development in Al Furjan in 2018, with a total of seven projects lined up for delivery in Q1 and Q2 of 2018, ahead of planned schedule. The seven serviced apartment projects boast a combined value ...

Bloomberg HNA Group Co. has approached brokers about the possible sale of two office buildings in London’s Canary Wharf financial district as it seeks to shed assets and cut its debt burden, two people with knowledge of the discussions said. The Chinese conglomerate has sought advice from brokers on the value of 30 South Colonnade and 17 Columbus Courtyard with ...

Bloomberg An English spa town and two coastal areas saw the biggest house-price increases in the UK in 2017, outstripping gains in London’s hotspots. Cheltenham in southwest England saw a 13 percent jump in prices in 2017, almost five times the national increase of 2.7 percent, Bank of Scotland Plc’s Halifax division said. The average house in the town, famous ...

DUBAI / Emirates Business wasl properties, a subsidiary of wasl Asset Management Group, officially completed wasl district – the company’s heritage project in the Naif area of Deira. The project fulfills wasl’s mission to maintain the city’s rich history, and follows the launch of wasl district Souq in 2015. Zainab Mohammed, Chief Property Management and Marketing Officer at wasl properties ...