Real Estate

Bloomberg One in 10 adults in the UK owns multiple houses, underscoring a growing generational divide in the nation’s property market. While overall home ownership has dropped this century as prices skyrocketed, the number of people with at least two properties has jumped 30 percent to 5.2 million between 2000-02 and 2012-14, the Resolution Foundation said. The vast majority of ...

Bloomberg China formally laid down new rules on overseas investments, making explicit its de facto campaign against “irrational” acquisitions of assets in industries ranging from real estate to hotels and entertainment. The authorities set out three categories—banned, restricted and encouraged—while backing companies to support the nation’s ambitious “Belt and Road” initiative backed by President Xi Jinping, the State Council said. ...

Abu Dhabi / Emirates Business Al Forsan Real Estate, the property arm of Al Forsan Holding, announced that its leasing out its Type 1 and Type 2 Villas for AED245,000 and AED265,000 respectively. The Al Forsan Village project spread across 241,985m2 has 385 villas and also encompasses 440 units of one-to-four-bedroom apartments. In addition to UAE nationals, Al Forsan Village ...

Dubai / Emirates Business As much as $55.2bn worth of healthcare projects are in the pipeline in the Middle East and North Africa (MENA) region in 2017, with major new developments expected to be annou- nced at the forthcoming Build- ing Healthcare Innovation & Design Show. According to the latest industry estimates, a total of 37 mega hospital projects are ...

Bloomberg Singapore home sales rose 35 percent in July as new projects were launched. Developers sold 1,108 units last month, compared with 820 in June, according to Urban Redevelopment Authority data. A total of 692 new units were offered, up from 159 in June, the data showed. Singapore’s leaders, determined to keep a lid on home prices in the city-state, ...

Dubai / Emirates Business Dubai Land Department (DLD) has announced that a total of 88 real estate projects have been launched from the beginning of 2016 until H1 2017. DLD has also confirmed that 68 real estate projects were registered during H1 2017, representing a value of AED 21 billion. His Excellency Sultan Butti bin Mejren, Director General of DLD, ...

DUBAI / WAM Vice President and Prime Minister of UAE and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid Al Maktoum approved the new strategy for Building Permit Procedures Development in Dubai. The strategy will ensure speeding up the process of acquiring building permits from concerned government entities to assist investors in the real estate sector. The new strategy, ...

DUBAI / Emirates Business Abdul Rahim Architectural Consultants (ARACO), a leading engineering consultant in design and project management in the UAE, has been selected from more than 40 firms to provide design and consultancy services for Abu Dhabi Housing Authority’s (ADHA) Bayti initiative, which streamlines the process of building homes for Emirati nationals. Launched in late 2016, the Bayti initiative ...

Bloomberg Living in the world’s most-expensive property market means having to set aside more than half your income as mortgage payments. Hong Kong’s mortgage-payment-to-income ratio rose to 54.2 percent in June, the highest since 1998, figures from Centaline Property Agency show. The low affordability is a result of the steep rise in home prices, which have kept soaring despite efforts ...

DUBAI / WAM Lootah Real Estate has signed a deal with Dubai South to develop more than one million square foot of housing units at the site’s residential district. The agreement, which is a joint venture between Lootah Real Estate and Dubai South, will result in the construction of 1,150,548 sq ft of residential units over a number of phases. ...