Property News: Investing

Payment of rents by credit cards is the latest incentive being offered to cash-strapped customers by a leading Abu Dhabi property developer subsequent to its rent-to-own scheme.

Aldar Properties said on Monday its customers would be given an option to pay their rent by credit card starting from August 17.

The developer said the offer is in line with the company’s “ongoing efforts to offer convenient and flexible payment solutions”.

“Residents will initially be able to pay their rent by credit card in … Read more ›

Aldar Properties, Abu Dhabi’s biggest listed developer, reported a 2 per cent jump in its second-quarter net profit as the company recorded higher revenue, despite restrictions to contain the spread of Covid-19.

Net profit attributable to owners of the company for the three months ending June 30 rose to Dh484 million, the company said in a statement to Abu Dhabi Securities Exchange where its shares trade. Revenue climbed 21 per cent to Dh2 billion during the period driven by “robust demand for its … Read more ›

Dubai’s property market became more competitive globally, as prime residential property capital values declined 3 per cent in the first half of 2020, while Seoul recorded the biggest price rise in the same period, Savills said.

Global prime residential prices fell 0.5 per cent due to the immediate impact of the Covid-19 pandemic and subsequent shutdowns that disrupted real estate markets, Savills’ latest Prime Residential World Cities Index report found.

“Global uncertainty was already weighing on prime residential markets in 2019, with modest falls … Read more ›

The stay-at-home restrictions and surge in employees working from home during Covid-19 have led many people in the UAE to reconsider their living spaces, as they take advantage of a drop in rental and sales prices to upgrade their properties.

The fall in rents and property prices make it the perfect time to negotiate with landlords and brokers to get a good deal on bigger accommodation, according to industry experts.

Average annual residential rents in some areas of Dubai declined by 15 … Read more ›

A new economic collaboration committee made up of senior public and private sector figures in Abu Dhabi has been created to focus on the development of seven key sectors of the economy.

The body, which contains four representatives from government departments and 22 private sector organisations, was approved by the chairman of Abu Dhabi’s executive office, Sheikh Khalid bin Mohamed bin Zayed, on Sunday after reviewing the Department of Economic Development’s latest five-year plan.

Sheikh Khalid gave directions to create “a comprehensive … Read more ›

Real estate sale transactions in Dubai jumped by 60 per cent month-on-month in June 2020 signalling patterns of a V-shaped recovery, according to developers and property experts.

Real estate portal Property Finder said the sector in Dubai has been transacting more than 570 sales transactions weekly on average over the past several weeks as the secondary market bounced back to pre-Covid levels.

“During the past three weeks the number of weekly real estate sales transactions has been consistently increasing by almost 11 … Read more ›