- Middle East Business News
Wednesday, 08 July 2020 11:01 UAE time

EFG-Hermes casts doubt on Nakheel mega-tower

Real Estate
UPDATE 2: Nakheel maintains global downturn to have limited impact.

Aldar Properties appoints new CEO
Real Estate
Chief operating officer John Bullough replaces Ron Barrott, to 'focus on execution and project delivery'.

Alwaleed's Kingdom Holding to build 1km tower
Real Estate
Gulf's second kilometre-high building inside a week announced for Jeddah.

Economy and markets 'sound' - Sheikh Mohammed
Banking & Finance
PM says UAE able to weather global economic slowdown, not hit by credit crunch.


Corruption probe to test economy
Four police probes into execs at major real estate and financial firms have raised fears over a lack of regulation and transparency.

John Irish  

Dubai Property Prices - the truth
Together we know where property prices are heading - we just need to extract the truth from our collective instincts.

David Westley


With the falling value of real estate shares, concerns of housing oversupply the market and the widening corruption probe, how do you think property sales fare in the coming months?

Air Your Views


    Emaar to build $100mn Khalifa City in Cairo

    Urban development for low-income households to be built with funds provided by Abu Dhabi.

    Abu Dhabi's Sorouh says primary market steady

    Secondary market has 'softened' where 'speculative' buyers looking to sell.

    UAE's Aabar says to invest $136mn in real estate

    Abu Dhabi-listed company to develop commercial towers at Al-Raha beach - CFO.

    Bahrain banks real estate exposure below 30% - cbank

    Kingdom's banks' sectoral exposure in line with proposed guidelines.

    Indian builders lure home buyers with free cars, gold

    The days of three-digit sales growth are over, say developers, as tactics turn inventive.

    Dubai's Limitless invites Arabian Canal phase 2 bids

    Contract will involve excavation of around 300mn cu m of earth along 8.5km of canal.

    Abu Dhabi's Aldar Q3 net up 50%

    UAE's no.2 developer reports quarterly profit of $206.9mn, analysts had predicted up to double that.

    Mortgage curbs to hit first time buyers

    Home buyers could be forced from UAE property market after mortgage lenders rein in loans.

    Aldar to set up hotel management unit

    Abu Dhabi developer's new unit to oversee up to 40 properties it plans to develop, senior exec says.

    Limitless still keen on UK acquistions

    Dubai-owned developer has not been put off market despite dropping bid for Minerva, senior exec says.

    UAE warned over banks' real estate exposure

    UPDATE 1: Reconsider letting lenders set up real estate subsidiaries - Morgan Stanley.

    Strong branding to help firms weather correction

    Investors more likely to be loyal to developers during times of trouble - Futurebrand.

    UAE commercial property market slowdown

    Dubai and Abu Dhabi both witness slight drop in activity during Q3, Better Homes says.

    Riyadh house prices rocket 90%

    Saudi capital leading housing boom in kingdom, fuelled by housing shortage and rising purchasing power.

    Al-Qudra's Cityscape sales touch $100mn

    Abu Dhabi developer eyeing projects in Algeria, looking to move into commodities, CEO says.

    British Museum to work with Abu Dhabi

    World-famous museum to have presence in UAE capital, although it will not be branded museum, exec says.

    Cityscape breaks record on visitor numbers

    Dubai real estate exhibition sees 40,000 through doors after just two days.

    Damac optimistic, despite negative sentiment

    Real estate market fundamentals 'strong', despite global financial turmoil - Riddoch.

    Al Mazaya pushing ahead with IPO

    Kuwait-based developer will launch IPO in Qatar next month despite market turmoil, VP says.

    Abu Dhabi to get Schumacher tower

    Marasi Real Estate Fund to build tower in partnership with F1 legend at cost of up to $544mn.

    Palm Deira unaffected by market turmoil

    Construction and sale of plots on largest of palm islands going ahead as scheduled, exec says.

    Union Properties mulls buyback after shares slump

    Dubai-based firm considers move as shares lose more than 50% so far in 2008.

    DIFC invests $817mn in Dubai Pearl

    Investment arm of DIFC acquires 'significant portion' of project being built close to Palm Jumeirah.

    Mini-me builders make millions from models

    EXCLUSIVE: Scale models prove big business for firms in run-up to Cityscape.

    $260bn Saudi projects under construction

    Huge investment in kingdom revealed as new Cityscape Saudi Arabia event launched.

    Dubai Properties CEO eyes Indian expansion

    EXCLUSIVE: Indian subcontinent offers 'glorious opportunity' says company chief.

    Al Khaleej to delay projects, funding plans

    EXCLUSIVE: Bahraini firm says investors unwilling to throw cash at big projects.

    Saudi real estate market set for strong growth

    Lack of supply, high oil prices and booming economy driving market, Colliers says.

    Mideast real estate to outperform rest of world

    Investors believe regional property markets to withstand global slowdown - survey.

    Aldar reveals plan to build 14 marinas

    Property firm sets up new subsidiary - Aldar Marinas - to build 3,500 berths across Abu Dhabi.


Has the recent spate of project cancellations and delays put you off investing in Dubai’s real estate market?

No, project cancellations are rare and although some projects face delays house prices continue to rise, so real estate is still a good investment.
No, but the recent cancellations and delays have emphasised the need for investors to do their research before choosing where to invest.
Yes, the recent problems have highlighted the risks associated with buying property in Dubai, particularly off-plan, and investors should think twice.
What do you think? Have your say here...

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