Insights: General
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Rents continue to drop as property market matures
A new report has indicated that the Dubai property market is maturing as rent prices continue to fall throughout 2016. The report, issued by Core UAE, the real estate consultancy affiliated with Savills, compares rental declines in apartments which have been in the range of 5-6 per cent in areas such as DIFC Downtown, Dubai
February 29, 2016
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Further reduction in UAE petrol prices announced for March
The UAE will reduce domestic prices for gasoline in March while raising them for diesel, the ministry of energy said on Sunday. The price of a litre of octane 95 gasoline will fall to 1.36 dirhams (37 US cents) from 1.47 dirhams at the start of next month, the ministry said via Twitter. It cited
Dubai Land Dept chief warns landlords against arbitrary rent hikes
The director-general of the Dubai Land Department has urged tenants to challenge landlords over arbitrary rent increases, insisting they should only be in line with the Real Estate Regulatory Authority (RERA)’s annual rental index. Tenants who feel aggrieved by “unjustified” rental hikes can take their case to the Rental Disputes Settlement Centre, Sultan Butti Bin
Dubai launches new rules to regulate growing holiday homes sector
Dubai tourism chiefs have launched new detailed rules to regulate the city’s growing holiday home sector which already has licensed 57 operators and more than 1,600 properties registered. The Department of Tourism & Commerce Marketing (Dubai Tourism) has announced executive resolution 3/2015 to provide greater transparency, safety and standardisation of the market to further increase
Saudi tourism says 66 islands ready for investment
The Saudi Commission for Tourism and National Heritage has announced that 66 islands are now ready for investment. Rustom Al-Kubaisi, head of Saudi Commission for Tourism and National Heritage branch in Jizan, said development on the uninhabited islands has started, according to Arab News. Al-Kubaisi said that the tourism income from Farasan Island during the
February 29, 2016
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UAE said to implement 5% VAT from Jan 1, 2018
The UAE is reportedly set to implement 5 percent VAT from January 1, 2018, with 150 food items, health and education exempted, a senior official was quoted as saying on Wednesday. Obaid Humaid Al Tayer, Minister of State for Financial Affairs said the Gulf Cooperation Council resolution covering the tax will come into effect in
February 26, 2016
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United Arab Emirates: In-country process available for work permit applicants
Immigration authorities in the United Arab Emirates have begun allowing foreign nationals to enter the country on short-stay visit visas and apply for work permits in country, as officials seek to alleviate processing delays associated with new work permit documentation requirements. What does the change mean? Foreign nationals may enter the UAE on short-stay visit visas
Indian expats in the UAE can get health insurance for families back home
Indian residents in the UAE can now provide health insurance for their families back home, reported The National newspaper. This is due to a collaboration between the UAE’s Aster DM Healthcare and RAK Insurance which offers policies costing between $61 (AED 225) and $1,034 (AED 3,800) a year for a primary member. The policies cover
Saudi and UAE ban citizens from travelling to Lebanon
Bahrain also joins travel ban after Saudi halted $4bn aid to Lebanon army in response to “hostile” Hezbollah positions. Saudi Arabia, the United Arab Emirates and Bahrain have urged their citizens to leave Lebanon or avoid travelling there. The move on Tuesday came after Riyadh halted $4bn in aid to Lebanese security forces in response
February 24, 2016
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