Insights: General
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Dubai’s Damac says phase 1 of Akoya Imagine villas sold out
Damac Properties announced on Monday that phase one of Akoya Imagine villas has been sold out, and the launch of the second phase is planned for the end of July. The villas, which are designed and priced to attract professionals in the under 35 age group, have proven to be popular among millennials seeking a
UAE’s appetite for digital banking services said to be soaring
New research released has found that affluent middle class customers in the UAE are more likely to interact with their bank using digital channels than ever before. According to Collinson Group, parent company of Priority Pass and ICLP, financial services brands looking to boost engagement must ensure their loyalty initiatives are aligned to their customers’
‘UAE to get 3,500 millionaires in 2016’
Dubai: The UAE will most likely add thousands of new millionaires to its existing wealthy population this year, as rising security tension in some markets have spurred a migration of affluent tycoons. The UAE is one of the top destinations for moneyed citizens from various countries around the world, with 3,000 super-wealthy individuals (HNWIs) or
July 25, 2016
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Bahrain’s new foreign ownership law ‘to boost property markets’
The decision by the Bahraini government to allow foreign investors 100 percent ownership in various sectors of the market is likely to have a positive long term impact on the kingdom’s property markets, according to Cluttons. According to the government, the new law will allow 100 percent ownership in residency, real estate, administrative services, health
Saudi private sector salaries to increase 30% by 2021
Salaries are likely to increase by 20 to 30 percent over the next five years in Saudi Arabia’s private sector due to heightened foreign investment in the country and the privatisation of parts of the public sector, economists have said. Sectors such as retail, technology, and tourism will be the first to witness the surge
Dubai sees 5.6% rise in business licences issued during Q2
The Department of Economic Development (DED) in Dubai has said it has seen a marked increase in the number of transactions related to business licences as well as the number of licences issued during the second quarter of 2016. Transactions concluded during the quarter reached 119,630, which was 34.9 percent higher than the 88,688 transactions
GCC spending on facades to grow to $12bn by 2024
The pressure on the UAE and the rest of the GCC countries to focus on new low-energy architecture will increase over the next eight years as billions of dollars are ploughed into infrastructure development across the region, new research shows. According to a regional market study issued today, spending on building exteriors will increase from
Dh40 million observatory to open in Dubai at the end of the year
DUBAI // A Dh40 million observatory will inspire the public to look to the stars when it opens at the end of the year. Construction began on the Al Thuraya Astronomy Centre in Mushrif Park a year ago and should be completed by December, when it will house the largest active public telescope in the
Dubai shortens rental dispute compensation process
Unsuccessful parties in Dubai rental disputes could have their bank accounts frozen within just two days of losing their case to facilitate payment of funds owed, under an agreement between Dubai Land Department (DLD) and the UAE Central Bank. At present, it can take up to six months for a Rental Disputes Centre (RDC) decision
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