Big on luxury

April 20th, 2016

 

Cecilia Reinaldo, Managing Director of Fine & Country UAE, says ongoing government investment in infrastructure, tourism and real estate, along with a solid track record of delivering, positions the UAE strongly as an investment destination. “The return on investment [ROI] of 7-10 per cent in the UAE is one of the highest in the world,” says Reinaldo.
Crook points out that other major cities offer much lower yields – 3-4 per cent in London and 2-3 per cent in Hong Kong. The world’s affluent also cited tax regime changes in Europe, particularly London, and safety as major concerns, according to The Wealth report. “We have seen a rise in Properties under Dh5 million are still the ones moving the most becaues of better mortgage financing, according to Cecilia Reinaldo, Managing Director of at Fine and Country. “Obviously, the ultra luxury villas on the Palm Jumeirah, as well penthouses in Downtown Dubai, are still of interest to many individuals looking for unique properties,” she says.

 


Cecilia Reinaldo
Managing Director
Fine & Country UAE

Source: Property Weekly

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Emaar picks London for 2015 first tower launch

January 19th, 2015

emaar two towers

Emaar Properties, Dubai’s largest property developer, is set to commence sales for its first towers of 2015 on January 24, which are the remaining two towers of the six-tower Dubai Creek Residences.

The launch of the towers, part of the multi-billion-dollar Dubai Creek Harbor at The Lagoons master development, will be simultaneously in Dubai, Abu Dhabi and London.

The two towers will be 30- and 35-storeys high, with units ranging between 880 and 2,154 square feet.

Dubai Creek Harbor at The Lagoons is a joint venture between Emaar and Dubai Holding.

In November 2014, Emirates 24|7 reported that developers had not increased launch prices of the units and were selling units facing the Creek for Dh1,850 per square feet (psf) and ones not facing the Creek at Dh1,400 psf.

Dubai Creek Residences cluster comprises six towers, in Dubai Creek Harbour at The Lagoons, which will house 3,664 office units, eight million square feet of retail space, 39,000 residential units and 22 hotels with 4,400 rooms. The centerpiece will be the Dubai Twin Towers, the tallest twin towers in the world, but no announcement has been made of its launch.

Source: Emirates 24/7

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Dubai Investments set to boost its portfolio

January 12th, 2015

Plans to conclude Dh400m acquisitions in financial, real estate sectors by mid-2015.

Dubai — Dubai Investments, or DI, has unveiled plans to further expand its diversified portfolio by announcing two acquisitions in financial and real estate sectors for Dh400 million.

The leading investment company, which is listed on the Dubai Financial Market, is expected to conclude both the acquisitions by mid-2015 as final round of talks are still under way, according to sources.

Dubai Investments set to boost its portfolio  The new acquisitions are expected to reinforce Dubai Investments’ robust growth across its 40-plus subsidiaries and joint ventures, amidst surging trends and escalating investor confidence, DI said in a statement on Sunday.

The new financial entity, with expertise in asset management, corporate advisory, debt raising and brokerage capabilities, will augment DI’s capabilities in the sector.

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“The strategic move to acquire a financial services company will help Dubai Investment to prepare some of the firms in its portfolio for initial public offering in near future,” the sources said.

“We are eyeing expansion across our group portfolio and new acquisitions are in line with this strategy. The financial service company is a right fit for us and perfectly complements our model,” Khalid bin Kalban, managing director and chief executive of Dubai Investments, said in a statement to Khaleej Times…read more

Source: Khaleej Times

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Buying Dubai property cheaper than renting?

January 12th, 2015

Buyer has to pay 25% in cash, 4% in DLD charges, 2% agent fee

View from Burj Khalifa in Dubai

UAE-based company suggests time may be ripe for renters in Dubai to become homeowners. (Patrick Castillo)

Buying a property or renting one is a personal decision, but a new research by a UAE-based company suggests that time may be ripe for renters in Dubai to become homeowners.

“Our analysis reveals that many tenants may now be able to purchase a property similar to the one they are renting at a lower monthly cost. This appears to be particularly the case for lower cost starter type home,” says Declan King, Director & Group Head – Real Estate, ValuStrat.

He believes stabilisation in residential sales prices during the second half of 2014, along with continued increases in rental rates during the same period has brought about a scenario where it is now cheaper to pay a mortgage then equivalent rent

Their analysis of properties worth Dh1.57 million or less in freehold locations revealed monthly costs as follows:

Two assumptions for the analysis are annual lease on un-furnished basis and  75 per cent loan-to-values, 25 year loan term and 4.25 per cent interest rate…read more

Source: Emirates 24/7

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