Mohamed Alabbar, Chairman of Emaar Properties, the region’s largest property developer, has said that the UAE federal government’s decision of extending the validity of visas for foreign real estate investors in the country will boost investor confidence in the sector while driving future growth.

“The UAE Federal Cabinet decision to extend residence visa for real estate investors to three years will significantly enhance investor confidence and drive the growth of the country’s property sector,” Alabbar said in an emailed statement.

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Reflecting a growing economic development and promising investment opportunities, Dubai hit a new record growth of 34 per cent in direct trade exchange with the world in the first quarter of 2011, exceeding Dh183 billion against Dh136 billion over the same period in 2010.

Ahmed Butti, Executive Chairman of Ports, Customs and Free Zone Corporation, said that the statistics released showed a significant rise of 16 per cent in the weight of the exchanged goods up to 11.92 million tonnes from January to March this year compared to 10.25 million tonnes in the same period last year.

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A three-phase development programme for remote areas in the UAE was given the go-ahead by His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, during an inspection visit to the Ministry of Public Works Sunday.

Shaikh Mohammad ordered the setting up of utilities and an integrated infrastructure in remote areas that will contribute to changing them into advanced urban cities possessing all the elements for providing Emiratis with a dignified life.

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Chris O'Donnell, who left his job as Nakheel chief executive this month, has filed a breach of contract lawsuit against the developer.

A lawyer for Mr O'Donnell filed the case on Wednesday at the Dubai World Tribunal, the special court established to hear cases involving Dubai World and its subsidiaries. No further details were available yesterday, but the lawsuit could expose rifts between one of Dubai's biggest government-backed developers and the Australian who ran the company for five years.

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The number of high networth individuals (HNWIs) from the Middle East and their total wealth surged last year, reporting the second highest growth rate in the world, according to the latest World Wealth Report published by Merrill Lynch and Capgemini.

The combined wealth of HNWI and ultra-HNWIs (individuals with more than $30 million [Dh110 million] assets) increased 12.5 per cent last year to $1.7 trillion.

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Motorists in Sharjah can heave a sigh of relief after three weeks of petrol shortage at Enoc and Eppco petrol stations in the emirate.

The Abu Dhabi National Oil Company (Adnoc) has stepped in to supply fuel to the oil retailers on the orders of General Shaikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces.

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Dubai property resale basically deals with resale of property legally to someone. You can sell your property or assign your agreement to anybody which means that they will take over the payments to be made to the developer. The minimum premium attached in Dubai property resale is of 8%-10%. These apart, other costs may also come along in the form of transfer fee to the developer of resale properties. This is usually between 1% and 7% (depending on the development) of the original price of the property. In order to resale your property in Dubai you can take the help of real estate service which are in the business of selling Dubai real estate, houses, apartments, town houses, villas, holiday homes, beachfront property, and land by promoting it to thousands of buyers.

Investing in a Dubai property resale could fetch you instant gains. However, you should be very careful while investing in order to avoid cases of fraud and other commotions in future. You must make sure that you purchase the property directly from the real owner or developer of the property, especially when you are purchasing resale property at the construction stage. To buy a property as part of Dubai property resale, the process is easy and once you have found a property, a holding deposit is paid until funds are in place to carry out the exchange. But always bear in mind that you associate with a professional to guide you to know fully what Dubai property resale is all about and to know yourself about the deal through Dubai property resale.

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Investment property in Dubai has always been a popular form of achieving good capital gains and income. Global investors are increasing eyeing on investment property in Dubai as a way of diversifying their investment portfolios and gaining higher returns than in their home markets. Thus, investment property in Dubai is undoubtedly attracting much interest from investors along with the booming economy of the country. On account of strategic location and favorable tax system, Dubai is also a hub of business apart from being a favorite destination of scores of tourists. Investment property in Dubai has also gets a boost falling in line with the huge investment into other market sectors. Capital gains and income yields are much higher than most other international property markets and with no personal income or capital gains taxes it is easy to see why Investment property in Dubai is so popular.

Investment Property in Dubai brings some of the nice offers as well with the availability of properties with 100% freehold status in areas such as Dubai Marina, Dubai land, Jumeirah, Jebel Ali, The Palm Jumeirah and sports city. Investment property in Dubai has varied tags and it can range from around 43,000 GBP up to anything over 5,000,000 GBP. Investment property in Dubai also avails itself with property type’s apartments, Villas and Penthouses in some of the most scenic locations of Dubai. The properties are still in high demand due to population increases year on year. Investment properties in Dubai usually come with first class communal facilities including Health areas, restaurants and other retail shops. It is available both residential and commercial. Dubai investment properties if rented are tax free income generators.

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Dubai is a great destination of real estate investment which enjoys great popularity among the local and international investors. Dubai real estate offers some of the world’s best residential and commercial investment opportunities. If you want waterfront property or idyllic community living, Dubai real estate has it all rendering you optimum service and satisfaction. It is Dubai real estate which has put Dubai on the world map as the hub of real estate. There are many agencies dealing with Dubai real estate and Halcon Real Estate is one among them. As one of the largest service providers for Dubai real estate, Halcon offers both residential and commercial properties in Dubai for rent, sale and lease. It provides an authentic and informative platform for Dubai real estate companies as well as local and global customers to facilitate them for buying or renting properties in Dubai with ease.

In the recent years, Dubai real estate has seen rapid growth and changes enhanced by the strong performance of the economy and high levels of tourism. With mortgage availability gradually increasing and creating more demand, Dubai real estate proves a strong investment. In spite of the recent economic fluctuation, Dubai real estate performs very well and fast growing. You can easily find the right Dubai real estate investment properties from the extensive up to date listings. In terms of legal procedure attached in Dubai real estate, it is relatively simple and highly regulated by the government for the benefit of all. The registration of property in Dubai real estate, it takes around 2 days and is the quickest in the world (according to the IMF 2010). Property is freehold and ownership is fully supported by the legal system.

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Work has restarted on the unfinished Jumeirah Golf Estates property development, home to the final leg of the Race to Dubai golf tournament.

The residential luxury project, said to be nine times the size of Hyde Park in London, was designed to have golf courses named after the four elements - earth, water, wind and fire - but only two have opened.Some owners have protested they have been unable to move into their multimillion-dirham villas because the infrastructure, including water and electricity, is not ready. Other villas have yet to be completed.Nakheel said it had been appointed by the Dubai Government "to manage and deliver the Jumeirah Golf Estates project, with over 306 homes scheduled for completion in 2012".

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The Dubai Government is preparing to raise billions of dollars on international bond markets as interest rates hit their lowest levels in more than a year and perceptions of risk continue to ease.

Dubai has launched a US$5 billion (Dh18.36bn) bond programme as it gears up for a possible debt sale to increasingly receptive international investors.That follows a widening window of opportunity for borrowers in the UAE, observers say. With bond sales in other parts of the region taking a hit in the wake of unrest in parts of the Middle East and North Africa, UAE debt is seen as increasingly attractive.Borrowers are also being helped by very low interest rates and weakening perceptions of risk in Dubai. "Markets have tightened materially since the beginning of the political crisis in [parts of] the Middle East," said Ziad Shaaban, the director of fixed income at EFG-Hermes in Dubai.

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Sharjah's Executive Council is demanding an end to disruptions at the petrol stations which have left motorists unable to buy fuel over the past two weeks.

The General Secretariat of the council has asked the Enoc Group, which includes petrol retailers Eppco and Enoc, to provide a detailed explanation for the breakdown of supply at petrol stations across the emirate and is asking for a solution to the crisis within 48 hours.

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Investors welcomed news that Union Properties, one of Dubai's largest developers, is moving to reduce its debt.

The company's share price jumped 4 per cent in trading yesterday after it confirmed it would pay off Dh700 million in loans.Union Properties also announced plans to bulk-sell units in two of its signature Dubai International Financial Centre projects, Index Tower, an 80-storey project designed by Foster+Partners, and Limestone House, a luxury apartment development. The company did not provide details of the volume or structure of the expected sales. The developer began handing over units in both projects this year, which helped the company to post a net profit of Dh82m in the first quarter, a 64 per cent increase from the same quarter last year.

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Saudi Arabia and its Gulf allies are expected to press for an increase in Opec oil supply at a policy meeting in Vienna tomorrow, in the face of opposition from Iran.

Delegates from the 12-member group are scheduled to meet tomorrow at Opec's headquarters for the first time since political unrest began shaking the Middle East.It is feared the recent regional problems, which have helped to force the price of Brent crude oil as high as US$127 a barrel, the nuclear disaster in Japan that began in March and debt crises across Europe are threatening to slow the pace of the global economic recovery.

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Investors have money to spend on property in the Middle East and North Africa, but a lack of good opportunities at reasonable prices spells more stagnation for the region's markets, according to a survey by Jones Lang LaSalle.

Almost three quarters of large institutional investors surveyed said they planned to invest in property in the Middle East and North Africa (Mena) in the next year, while only 8 per cent said they were looking to sell.Yet the property consultancy predicted that transactions would be limited by political instability, concerns about oversupplied markets and a dearth of solid investment opportunities.While regional funds were focused on investing at home, he said, international investors were looking increasingly to developed markets, where they could see better returns.That means the Mena region is "missing out on foreign institutional investment", according to the report.Unrest in the region is among the top concerns for investors, the report says.The central issue, however, is that investors are focusing on stable, income-generating assets, but finding such properties is a challenge.

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The aviation sector would contribute $44.5 billion to Dubai’s GDP (gross domestic product) by 2020, according to a report Oxford Economics released on Thursday.

It stated that the economic contribution of the aviation sector is expected to be 32 per cent of Dubai’s GDP by 2020. By this time, Dubai would also see the aviation sector accounting for 372,900 jobs representing approximately 22 per cent of the emirate’s employment.

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The UAE may consider diversifying its foreign currency reserves to include China's yuan, but before that, China will have to relax its currency controls, UAE Central Bank Governor Sultan Bin Nasser Al Suwaidi said on Wednesday.

"It depends on the Chin-ese themselves because they are not yet prepared to allow the yuan to be a reserve currency. They have tremendous control over their currency. If China relaxed controls, then that will go to the investment committee of the Treasury Department of the Central Bank and there, they will make the decision," Al Suwaidi told reporters.

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