Property News

The Eid Al Fitr holiday has been announced for the UAE public sector.

The first day of the holiday will begin on Thursday, June 14, and will last until Shawwal 3, the Federal Authority For Government Human Resources announced.

Depending on when Eid begins, Shawwal 3 will either coincide with Sunday, June 17 or Monday, June 18.

If Eid falls on Friday (making Ramadan 29 days), government ministries and departments will be closed until Sunday, with work resuming on Monday. Should it fall … Read more ›

S&P Global Ratings has affirmed its ratings for Abu Dhabi on the back of its net asset position and has forecast a return to economic growth for the emirate in 2018, thanks to higher oil prices and government spending.

“The ratings are supported by Abu Dhabi’s strong fiscal and external positions,” S&P said in a report released on Sunday. “The exceptional strength of the government’s net asset position provides a buffer to counteract the impact of oil price swings on economic … Read more ›

UAE construction and property stocks rose on Wednesday after the Abu Dhabi Crown Prince revealed a three-year, Dh50 billion stimulus package and 10 initiatives that will ease business, create jobs and boost growth.

The Abu Dhabi Company for Building Materials or Bildco rose 7.27 per cent in Abu Dhabi, while the emirate’s biggest real estate developer Aldar gained 1.5 per cent, helping the overall index increase 0.77 per cent. In Dubai, contractor Arabtec climbed 3.9 per cent.

Included in the ten initiatives is … Read more ›

A massive Dh50 billion stimulus package for Abu Dhabi has been announced by Sheikh Mohammed bin Zayed, the Crown Prince.

Officials have been given just 90 days to create a detailed execution plan for the package, which seeks to transform the ease of doing business, and bring lasting economic benefits to Emiratis, residents and investors.

At the heart of the announcement are 10 initiatives, with the aim of accelerating the economy over the next three years.

They include allowing people to officially work … Read more ›

A 10-year UAE expat residency for professionals and 100 per cent foreign ownership of businesses outside as well as inside free zones, are two new initiatives widely welcomed by the real estate sector.

While both announcements may boost property investment, with only a limited number of individuals set to be affected by these changes – are they such a big deal?

The devil is in the detail. Expats will have to wait and see exactly how these measures are actually implemented – … Read more ›

Leading property portal Bayut have awarded Henry Wiltshire International the coveted ‘Agency of the Month’ award for best Abu Dhabi real estate agency.

Bayut also awarded ‘Real Estate Agent of the Month’ to Henry Wiltshire’s agent Ragna Tietjen who is a leasing consultant specialising in the Corniche and Maryah Island areas of Abu Dhabi.