January 26th, 2010 | by Dubai Dude | published in Living in Dubai
Time and again, there are reports in media that rents in Dubai have nose-dived, giving impression that it has been a tenants’ market now. A recent article in Arabian Business takes this to next level, quoting Jones Lang LaSalle MENA’s Dubai Real Estate Market Overview, and claiming Dubai rents set to fall further across all [...]
February 23rd, 2009 | by Dubai Dude | published in Business in Dubai, Living in Dubai
The property-driven economic crunch in Dubai demanded some realistic remedial solutions by the government. Instead of sanely resolving the issues and presenting a resolution to boost investor confidence, authorities still act as if they believe there is no crisis in Dubai. When the free-hold property scheme started few years back, developers and builders promised residency [...]
January 31st, 2009 | by Dubai Dude | published in Living in Dubai
Here is a list of cancelled / on hold real estate projects in Dubai. The developers include Nakheel, Tatweer, Meydan, Tameer, Sama Dubai and Damac amongst others.
January 16th, 2009 | by Dubai Dude | published in Business in Dubai, Living in Dubai
Finally the mainstream media is coming out with numbers of job cuts in Dubai. Gulf News reports: – WS Atkins, a leading British engineering consultancy firm working on Burj Al Arab, have laid off 170 professionals. – Dubai Labour Supply Company (Dulsco) has laid off 800 workers in two batches. – Mizin, a real estate [...]
January 6th, 2009 | by Dubai Dude | published in Living in Dubai
Villa prices at Jumeirah Park and Jumeirah Islands, Nakheel’s exclusive residential developments in Dubai, have plunged up to 45 percent in the last four months. Brokers across the UAE said speculators were desperately scrambling to off-load property before prices fell further. Imran Aslam, agent at Dubai-based property broker AAA said completed three to four bedroom [...]
December 1st, 2008 | by Dubai Dude | published in Business in Dubai
Dubai has felt the heat of global recession and at least property and real estate sectors are already in downsizing mode. Nakheel, Dubai’s real estate master developer, made 500 people (or 15 per cent of its global workforce) redundant while scaling back projects. This is the second biggest confirmed job cut in the UAE so [...]