Emirates, the Arab world's largest airline, will spend about $10bn a year to fund its fleet expansion over three years but is not under pressure to tap the bond market, a senior official said.
The Dubai government-owned carrier, which expects to receive about 30 aircraft a year for the next three, dropped plans for a bond to finance expansion after political unrest in the Middle East made rates more expensive.
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Dubai is an ideal place to work and live. This is one place that grows day by day in terms of construction of new buildings. Dubai real estate prospers year after year even though there was a surge in the property market during the past few years due to recession.
Dubai is the best place to live. The soaring number of immigrants every year is the proof for it. It is a hub of most modern lifestyle and accommodation. Noted builders and developers thrive in Dubai by competing with each other in building the best villas and apartments anyone can offer. As a result Dubai real estate agents and investors consider this as the ideal place to invest in the property sector.
The increase in population during the time of recession badly affected the Dubai real estate sector, causing a steep fall in rent prices. But by the last quarter of 2010, the situation seemed to improve.
Though property development is a usual process in Dubai,, it is not very easy to find the ideal property investment as the choice is oceanic. Rigorous analysis and investigations only will lead you to make the best Dubai real estate investment. Property investment is also directly proportional to the finance you can bear.
Dubai property market snapshot:
Residential Rents:
• Average apartment rental price down 8.2%, compared with 11.8% Q2 2010.
• Average villa rental price down 4.2%, compared with 6.1% previous quarter.
Residential Sales:
• Average apartment sales price down 8.7%, compared with 5.7% Q2 2010.
• Average villa sales price down 4.3% compared with 4.7% Q2 2010.
Commercial:
• JLT, Emaar Square, Business Bay and TECOM rents remain stable from Q2 2010.
• DIFC offers highest rent in the Emirate at around Dhs250 per square foot.
Industrial:
• Prime Industrial rents remain stable Q2 2010 - Q3 2010.
• Al Quoz and Jebel Ali offer highest rents in the region of Dhs30 per square ft.
• The international property investor has re-entered the market, attracted by the bluechip logistic occupiers.
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HSBC said on Tuesday it was planning to lay off up to three percent of its 12,000-strong workforce in the Middle East and North Africa as it seeks to cut costs.
"As part of a standard operational review of the business to ensure our competitiveness, we have identified an opportunity to improve efficiency through a small reduction of headcount," HSBC said in comments published by newswire Zawya Dow Jones.
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Mowasalat, Qatar’s government-operated transport authority, has increased the minimum fare for a taxi ride in the emirate by 150 percent to QR10 ($2.7).
Mowasalat, also known as ‘The Transport Company, operates a monopoly on public transport in the country and said the fare increase would be immediately effective.
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