Real estate firms in Dubai are unveiling incentives such as rent-free periods and reduced rates in a bid to lure tenants in an oversupplied marketplace, a property analyst said Sunday.
Offers such as flexible payments are a sign developers will take a hit on revenue in return for increased occupancy, said James Gauduchon, head of marketing for UAE-based Better Homes.
For more information visit Dubai real estate
Industry and Commerce Minister Dr Hassan Fakhro yesterday visited Bahrain International Investment Park (BIIP) to meet Bahraini and international companies located there.
During his visit, the minister thanked the international and Bahraini companies for their contribution to development in Bahrain and assured them of the government's commitment to boost Bahrain's competitiveness as a business location.Built to international standards, the park comprises 2,500,000 sqm of land providing an unique opportunity for businesses looking to locate their manufacturing and international services operations in the Middle East.
For more information visit Dubai real estate
As Dubai residents pay lower rents, it also means lower housing fees for them. However, to get the fee adjusted downwards, they need to be prepared to spend at least one full day standing in line.
Residents pay housing fee equivalent to five per cent of the tenancy contract value. This is included in their utility bill.
For more information visit Dubai real estate
Nakheel, Dubai-based master developer, has recommenced booking for berths in Palm Jumeirah and plans to double the berth number in the project, according to a senior company executive.
“The Palm Jumeirah Marina provides 520 berths for boats. We are planning to increase this number to 1,000 in the future,” Saeed Harib, Managing Director, Nakheel Marine & Leisure, told Emirates 24|7.
For more information visit Dubai real estate
Japan upgraded its nuclear emergency to a maximum seven on an international scale of atomic crises on Tuesday, the first time the highest ranking has been invoked since the Chernobyl disaster in 1986.
For more information visit Dubai real estate
Egypt's public prosecutors' office said on Sunday it had frozen land in southern Egypt controlled by Saudi billionaire Prince Alwaleed bin Talal because the original sale of the land violated the law.
The public prosecutor has been investigating business transactions and the finances of officials under Hosni Mubarak since mass protests forced him to resign as president on Feb. 11.
For more information visit Dubai real estate
