Middle East > Real Estate
Real Estate in Middle East
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Finance Ministry: Housing market slower in July
ISRAEL, 2017/09/12 According to the chief economist, there were 16% fewer deals than in June and 9% fewer than in July 2016. The downtrend in residential real estate deals is continuing. Central Bureau of Statistics figures published yesterday showed a fall in the number of new housing units sold by contractors, and Ministry of Finance chief economist Yoel Naveh has published new figures today showing a further drop in deals in the sector. -
Improved liquidity, currency volatility can give Sub-Saharan Africa real estate markets a Boost
KENYA, 2017/08/20 Real estate markets in Central and Eastern Europe (CEE) are seeing record levels of international capital inflow while a lot of markets in Sub-Saharan Africa are lagging behind. The new JLL Capital Markets research has identified liquidity and foreign exchange volatility as two key reasons impacting real estate capital flows into Sub-Saharan Africa real estate markets. A two-speed cycle appears to have evolved in emerging economies with some racing ahead and others lagging behind. -
Demographics and reforms expected to benefit Oman’s real estate sector
OMAN, 2017/08/01 While real estate transaction figures continue to reflect a additional cautious macroeconomic environment, potential reforms could pave the way for Oman’s property market to regain some of its dynamism going forward. The price of property traded in the sultanate between January and June this year fell by 69.9% year-on-time(y-o-y) to OR1.4bn ($3.6bn), according statistics released by the government’s National Centre for Statistics and Data (NCSI). Over the same period the traded price of mortgage contracts fell by 80.7% to OR797.7m ($2.1bn), while the number of sales contracts eased by 23.9% to 30,635. -
Abu Dhabi real estate continues to weather market downturn
UNITED ARAB EMIRATES, 2017/04/16 The prolonged dip in oil prices and associated government spending cutbacks have continued to weigh on real estate markets, though Abu Dhabi has remained resilient entering 2017. Challenges remain, particularly in commercial and residential classes, the sectors most prone to effects of a slowdown in energy-related business. However, new real estate legislation implemented over the completed year, inclunding the reinstatement of rental caps, has the capacity to improve investor confidence in the long term. -
Aaref Hejres, Chairman of BaPDA
BAHRAIN, 2017/03/04 The Bahrain Property Development Association (BaPDA) is a non-profit organization established in 2010 as the kingdom’s initial property development association. Here, chairman Aaref Hejres discusses the real estate sector, the second major industry next banking, and how BaPDA is expanding social housing programs. Most GCC governments regard the real estate sector as the cornerstone of the economic development in their nations. In particular, Bahrain’s property market witnessed stability across most real estate sectors in the second half of 2016, which is expected to continue through 2017. How do you evaluate the performance of the real estate sector in Bahrain? -
In Dubai realty, Dh1m is the new price point to fight for
UNITED ARAB EMIRATES, 2016/09/12 Properties in the Dh1-1.5 million range will be the new battleground as Dubai’s private developers take on the affordable homes’ initiative from master-developers. It will as well mean that developers will have to be quick to acquire plots in emerging locations to ensure they can get their costs right. “The market is starting to see a younger demographic of buyers, those in their 30’s who want the convenience of city locations rather than move all the way to the suburbs,” said Farhad Azizi, CEO of Azizi Developments. “These are the people who are relatively new to Dubai and want to have deeper roots in the city — lenders are getting additional comfortable with having loan exposures to this demographic. -
israel. Cost of housing continues to rise, data shows
ISRAEL, 2016/08/20 Five years after massive street protests decried the high cost of housing, prices continue to increase, according to new data released Tuesday. -
Palazzo Versace luxury hotel and residence opens in Dubai
ITALY, 2015/11/21 The luxury hotel built by the Enshaa Group - one of the leading developers in the Dubai real estate market - includes 215 rooms and 65 suites, with areas and furnishings designed under the artistic direction of Donatella Versace. The complex, located in Dubai's new Cultural Village, as well includes 169 private residences with one to six rooms ach, entirely decorated and furnished in Versace style. ''Versace is a fashion, luxury and lifestyle brand. Since the very beginning, Versace has understood different product categories - from clothes to accessories, from precious goods to the home collection - able to convey the brand's exclusive and iconic style,'' said Versace managing director Gian Giacomo Ferraris. -
Azerbaijan unveils electronic property registration service
AZERBAIJAN, 2015/07/21 A new online system will simplify the procedure of real estate registration for Azerbaijani citizens. Next having signed and notarized a real estate purchase arrangement, citizens and legal entities will no longer need to revisit the registrar for documentation. The new paperless system will make it possible to register real estate online. This new online service was unveiled by Rafig Jalilov, the Deputy Chairman of the National Committee for Property Affairs. It will minimize both registration time and interactions between citizens and bureaucrats. -
Azerbaijan unveils electronic property registration service
AZERBAIJAN, 2015/07/21 A new online system will simplify the procedure of real estate registration for Azerbaijani citizens. Next having signed and notarized a real estate purchase arrangement, citizens and legal entities will no longer need to revisit the registrar for documentation. The new paperless system will make it possible to register real estate online. This new online service was unveiled by Rafig Jalilov, the Deputy Chairman of the National Committee for Property Affairs. It will minimize both registration time and interactions between citizens and bureaucrats.
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