London's Loss Could be Dubai's Gain - Aurum Real EstateAurum Real Estate. In the wake of Britain’s vote to exit the European Union, uncertainties have cropped up in its economic spheres. Among other sectors, the Brexit vote has cast shadows of uncertainty over its real estate market. New challenges have dawned on its horizon. What would be interesting to observe is the market’s response to the post-Brexit test. The climate of uncertainty has been further aggravated by successive stamp duty hikes on expensive properties. This has caused a downturn in its prime property market.
This lands Dubai with an opportunity to attract those who are looking for a stable market to invest and grow. In contrast to London’s stagnant market, Dubai is on the verge of picking up. As Brexit negotiations play out, voices from the industry have reasons to believe that to regain buyer confidence the costs of premium properties in London will have to be slashed by a further 6-7 %. If you seek to find lucrative investment properties in Dubai, Call Aurum Real Estate Today! Not Just Another Mall, Deira Islands Mall Will Surpass The Dubai Mall - Aurum Real EstateAurum Real Estate.
Among many other things for which Dubai is popular around the world is the shopping experience that the city affords to the people. The emirate of Dubai is home to some of the most spectacular and grand shopping malls that feature anything between underwater zoo to ice rinks. These colossal malls are the subject of awe all across the world. Having said that Dubai is Dubai, and here, getting better, bigger, larger and taller never stops. Perhaps in this very spirit, another mall is springing up on the Deira Islands. The Deira Islands Mall will be developed at a cost of around Dh4 billion.
Set next to The Deira Islands Mall will be Deira Islands Night Souk. Powered by: Aurum Real Estate. RERA Takes Measure to Curb False Property Ads - Aurum Real EstateAurum Real Estate. In a major step to curb false property ads, Dubai Land Department (DLD) has announced that property brokers in Dubai will now have to get approval for their advertisement and social media campaigns. The new rules have been formally conveyed to the brokers via a circular from the Real Estate Regulatory Agency (RERA). As per the latest rules, brokers will be required to apply and obtain permits before proceeding ahead with any real estate announcements.
The rules encompass all forms of electronic and print ads. Thus, even social media campaigns shall fall within the ambit of the new rules. Upon application, the brokers shall be allotted a permit number from RERA. All real estate advertisements must carry this permit number. At present, only brokers registers with RERA have the permission to advertise properties. The new rules reinforce DLD ‘s commitment towards addressing fraud cases in Dubai. When will the rules come into effect? Where and How to apply? Penalty for Noncompliance Feedback. Historic Move: UAE Launches World's First 'Tolerance Charter' - Aurum Real EstateAurum Real Estate. UAE has just embarked on what the world would remember as the planet’s first formal ‘tolerance charter’. This was declared by Sheikha Lubna bint Khalid Al Qasimi, Minister of State for Tolerance, while speaking at an event organised by Government of Dubai Media Office. The purpose of the charter is to spread tolerance, peace and coexistence.
The Tolerance Charter will aim to portray and promote the true essence of Islam. Sheikha Lubna stressed on the need to accommodate positive thinking in order to successfully combat and eradicate bigotry, racism and extremism. In June this year, the UAE cabinet had launched the National Tolerance Programme as part of the UAE 2021 Vision, which was launched by H.H.
International conventions, common human values, the UAE Constitution, the late Sheikh Zayed bin Sultan Al Nahyan’s vision and the teachings of Islam are to be the driving forces behind the tolerance programme. Powered by: Aurum Real Estate. Investment tips for beginners. Dubai's stand in the realty cycle. Despite inadvertent instances occurring to Dubai in the realty cycle, the city looks crippled in the initial times and yet has recovered from the trauma instantaneously. For those who are aware of the crisis in the realty cycle, it is very much known that it occurred via an agenda. Though such crises leads to jarring impacts, it never brings down the country to face a retreat. Ultimately the core idea is demand and supply, important components too play a vital role in driving the market forward or rearward. For instance, policies of government towards foreign direct investments can increase the market to develop.
Inspite of Dubai having faced recession, it has regained its previous status. There are many traits of a recession such as unemployment, reduced consumption, reduced investment on buildings, factories and machines, downfall on property price required for economic activity. A step-up in the demand and reduced costs on investments, businesses are inflated by companies. Low-Wage Workers to Get Free Housing in UAE - Aurum Real EstateAurum Real Estate. Free Housing for Low-Wage Workers A recent decree issued forth by the Ministry of Human Resources and Emiratisation stipulates that workers who earn less than 2,000 AED, about $540, per month will have to be provided free housing by their employers.
The decree, however, will only apply to companies that employ 50 or more workers. Earlier, free housing was provided only to low-wage workers in companies that employed more than 5,000 workers. It will come into effect in the month of December this year. Besides providing mandatory accommodation to low-wage workers, the ministry also clarifies that the provided accommodations must meet the standards laid down by earlier decrees. Labour accommodations housing less than 500 tenants must abide by the 2014 ministerial decree, while those that house more than 500 tenants must abide by the 2009 cabinet decree.
To ensure that employers adhere to the set rules, there shall be regular checks and inspections. Who will the beneficiaries be? Best Places to Invest. UAE Nationals, Indians Top Investors in Dubai Realty - Aurum Real EstateAurum Real Estate. Top Investors in Dubai Real Estate Market Indians, once again, have emerged as the second highest investors in the Dubai realty market. The first place, of course, has been taken by the UAE nationals. This is according to the latest data released by Dubai Land Department (DLD)’s transactions report, issued by its Real Estate Research and Studies Department. Dubai Real Estate Still Hot on the Charts As per the transaction report, in the first half of the year 2016, real estate transactions of worth AED 57 billion have taken place.
GCC Leading the Charge Citizens of the Gulf Cooperation Council (GCC) poured in AED 22 billion in the Dubai real estate market. Among the GCC nationals, it was the Emiratis, who pumped in maximum investment. AED 7 billion from Arab Investors outside GCC Arab nationals from outside GCC actively invested in the Dubai real estate market. Foreign Investment despite the Lukewarm Market Sentiment To know more about us, please visit our website: www.aurum-re.com. Why do you need a real estate agent while buying a house. Facilities to look for when buying a property. Buy or Rent, Which option is better? - Aurum Real EstateAurum Real Estate.
Buy or Rent Whether to buy or rent? This is one debate that has been raging for quite some time now. There are strong opinions, for and against, that deepen the rift in the ‘buy or rent’ debate. The question, whether to buy or rent, call it a debate, hinges on affordability. If renting would have been so lucrative an option, the richest people in the world and smart investors would have all lived in rented homes, rather than owning multiple properties. But for we all know that it isn’t the case. If you are good on the money front, buying is always the better option. Home ownership, however, comes with certain burdens and responsibilities as well. There is no definite answer to the ‘buy or rent’ question. To explore real estate investment opportunities in Dubai, Contact Us. We have a solid portfolio of world-class properties and a seasoned team of real estate professionals to guide and counsel serious investors at each step of the investment process.
5 Exciting Meydan Villa Projects - Aurum Real EstateAurum Real Estate. Meydan Racecourse is home to the richest horse racing event on planet Earth. The event and its fantastic venue have put Dubai firmly in the world horse racing map. Every year, last Saturday of March, avid fans from across the globe land at the falcon-shaped, state-of-the-art venue. But the action isn’t limited to only the venue. Of late, there has been much action around Meydan. A whole host of commercial, residential and entertainment projects are cropping up in the area; part of which are some of the most exciting Meydan villa projects. Behind the flurry of all activities, there lies a vision to create an integrated city with multifaceted elements to support a lifestyle that is environmentally responsible and yet imposing.
Today, in this blog post, we talk about 5 exciting Meydan villa projects. 5 Exciting Meydan Villa projects District OneGreen and pristine, District One is a premier villa development located near Business Bay and Downtown Dubai. Tips for buying a house. Catching Racetrack Action from The Meydan Hotel - Aurum Real EstateAurum Real Estate. When you indulge in the ‘Sport of Kings’, it is only apt that you do it like a monarch. Perhaps it is this very idea that the world’s first trackside five-star hotel, The Meydan Hotel, has been birthed. The Meydan Hotel is an incredible facility that has been integrated into the Meydan Racecourse to add a distinct touch of luxury and comfort to the sport that attracts the poshest. The Meydan Hotel is the world’s first five-star trackside hotel. The hotel has been elegantly designed in the shape of a wave in motion. The glass facade is an impressive shade of gleaming green.
The surrounding views are anything beyond ordinary. At first sight, the hotel overwhelms you with a feeling of grandeur. The Meydan Hotel offers privileged view of the Meydan Racecourse Every aspect of the hotel takes into account the genteelness of its privileged guests. Luxury in every inch For guests who would like to take a swing at golf, there is The Track, Meydan Golf.
Powered By: Aurum Real Estate. Meydan Grandstand and Racecourse - Aurum Real EstateAurum Real Estate. Meydan Grandstand and Racecourse is a name familiar to diehard horse racing buffs across the globe. Each year, on the last Saturday of March, thousands of fans of the sport gather at the Meydan Grandstand and Racecourse for the Dubai World Cup. The event carries a purse of whopping USD 10 million, making it the world’s richest horse racing event. The racecourse officially opened on 27th March 2010. Before its construction, the event was held at Nad Al Sheba. In fact, the current venue is located at the same site where Nad Al Sheba had once been. The Dubai World Cup has been an annual affair since 1996, the year it started. Meydan Grandstand and Racecourse: An excellent venue Colloquially referred to as Meydan, the venue is an extraordinary facility. Built at a cost of USD 2 billion, the complex includes two race tracks, The Meydan Hotel, Meydan Marina, and of course, the Grandstand.
The Grandstand is a mile long majestic structure that can seat 60,000 avid fans. Dubai Meydan City. Right hour for property buy - Aurum Real EstateAurum Real Estate. Dubai has been great on the real estate market, investors overseas are getting drawn to Dubai for the sake of investments. Apart from 100 different nationalities, Indians, British and Pakistanis have bought properties that can invest more than Dh100 billion in the initial six months of the year.
In the year 2008 the Dubai’s property market has evidenced a blow and has retrieved, It has made a record in 20 percent rise in price and has been developing at a quickest stride ever. Despite great hiccups in the years 2008 and 2009, Dubai is back to square one. It has also been facing improvements year after year. Dubai showcases immense opportunities for investors world-wide, it’s the best place to go forward making investments since it’s been an International city too. It is one such spots in the world where you can expect to find first-class growth on equity aside better cash. Deluxe property costs in Dubai seem to be cost-effective when equated with the lead cities worldwide. Talk terms. Dubai! 5 Global Factors That May Have Impacted Dubai Realty - Aurum Real EstateAurum Real Estate. It is a known fact that the current real estate market in Dubai is going through a price correction phase.
This sort of adjustment is pretty common in real estate markets across the globe. Though many people speculate that the extent of price adjustment could be severe, several experts have suggested that there is not much to fear and that the market shall soon recover. Today, in this article, we take a look at a few important global factors that may have impacted Dubai realty market. 5 Global Factors that may have impacted the Dubai Realty Market Low Crude Oil PricesThough Dubai is not an oil-reliant and its economy is much diversified, it cannot entirely escape the gloom that has been cast by falling oil prices. After all, a big chunk of investment that pours into Dubai comes from economies which are oil-dependent. In addition to these global factors that may have impacted Dubai realty market, there are other internal factors that have caused the slump in property prices. Dubai's Tilt towards Affordable Housing - Aurum Real EstateAurum Real Estate. With the luxury and high-end property segment showing signs of slowing down, there has been a significant shift in the Dubai Real Estate sector towards affordable housing projects.
For long now, investors and developers alike have focussed only on the affluent section, leaving a gap in the market. There were very few projects that specifically targeted the mid-income sector. Quest for affordable housing pushing crowd to city fringes The mid-income sector forms a large chunk of the Dubai population. High property prices and rents have pushed a good many of them to the city fringes, away from the city centres. Sharjah has become a particularly attractive location, as it provides affordable housing options. Current Dubai market going through a property cycle Although the rental market has remained more or less sturdy, the property prices have taken a hit in the last couple of years.
Developers entice buyers with attractive payment plans Developers filing in to meet the demand. 7 Exceptional Meydan Apartments & Townhouses - Aurum Real EstateAurum Real Estate. In a short span of time, Meydan has earned itself a spot as one of the premier horse racing venues. The vision for Meydan, however, extends much beyond the horse racing tracks. The idea has been to create an integrated city with multifaceted elements to support a lifestyle that is both grand and environmentally responsible. To this end, a string of luxury villas, townhouses, and apartments have been developed in Meydan. Meydan Apartments and Townhouses: 7 exceptional projects Meydan OneSublime in scope and vision, Meydan One will be a futuristic luxury district. Powered By: Aurum Real Estate.