His Highness Sheikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai has issued Decree No. 43 of 2013 which sets a specific band on how the optimum rental increases that a landlord can demand while renewing leases. The new rental slab as provided under the decree will […]
New Decree on Property Rent Caps in Dubai Read More »
The Dubai Government has announced an increase in public employee salaries by up to 100 percent. The Dubai Government Human Resources Department informed that thousands of government staff across 32 departments will benefit from the rise, which will be paid retrospectively back to 30 June. The rate of salary increase (between 30 percent and 100
Dubai Government Orders 30-100% Pay Raise for Staff Read More »
Dubai Land Department launched today a new online real estate portal known as eMart. It is an online portal for the auction, sale, and rental of properties and a simple and convenient exchange centre for real estate private and public real estate information, that guarantees transparency and credibility in all data, in line with the
Dubai Land Department Launches eMart Read More »
UAE has been ranked 23globally according to the World Bank’s annual Ease of Doing Business report. The 2014 report, compiled with the International Finance Corporation assessed the regulations of 189 economies, looking at how easy or difficult it is to do business in each of those countries. The UAE’s position of 23 puts it above
UAE Climbs Ease of Doing Business Index Read More »
The UAE Central Bank has issued long awaited new rules governing bank lending to property buyers which shall come into force a month after they are published in the Official Gazette. As per the new rules, home loans to expatriates shall be restricted to 75 percent of a property’s value whereas for UAE nationals it
Central Bank Approves New Mortgage Cap Read More »
A 14km-long corniche stretching from behind the Dubai Marine Beach Resort to the Burj Al Arab is set to open in 12 months after the project received the go ahead from Dubai ruler His Highness Sheikh Mohammed bin Rashid Al Maktoum. The project known as the Jumeirah Corniche Development Project has been given a one
Dubai Ruler Approves 14km Corniche From Burj Al Arab Read More »
As per a transport official, Dubai residents will be able to use the contactless Nol cards to pay for rides in the emirate’s taxis from January 2014. The commuters would also be able to use their credit cards to pay for fares. Road and Transport Authority also intends to introduce contactless payments for taxis using
Dubai Taxis to Accept Credit Card Payments From January Read More »
The UAE Vice President and Prime Minister and Ruler of Dubai HH Sheikh Mohammed bin Rashid Al Maktoum has launched a new project to transform Dubai into a smart city. Healthcare, education and general security will be managed through smart systems. The project aims to provide all Dubai residents with high-speed internet in public places and live
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The Dubai Land Department announced the doubling of the property registration fee to 4 per cent from 2 per cent. The new registration fees cover all property transactions in the emirate of Dubai except for the industrial sector, including warehouses. The move is aimed to stop quick transactions (flipping) which are unhealthy for the market
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Background On July 23 2013, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, in his capacity as Ruler of Dubai, issued Decree No. (21) of 2013 concerning the formation of a special judicial committee titled as “committee for the liquidation of cancelled real estate projects in Dubai
Canceled Real Estate Projects in Dubai Read More »
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