Analysts are not calling it a full-on recovery, but there have been some "positive signs" in the market that the nine-month streak of price declines could be subsiding.
Deutsche Bank
, compared to the month earlier. There were also an increasing number of transactions as people moved out on their own after living with flat mates and families looked to upgrade to better neighborhoods or bigger homes.
The plan for Dubai to be the home of at least three of the world's first rotating skyscrapers
, The National reports. None of the developers has broken ground yet. However,
Dubai Property Ring
with their
55 Time Dubai
building (the entire thing rotates 50 cm an hour)
. They have land and they have hired a contractor.
Prices in Dubai have many inputs, but one of the most important is population growth (or decline). The less people there are, the harder it is to mop up the 1,000s of units coming onto the market. Asa Fitch, a fellow blogger from
, today
writes a solemn plea for real population figures from the Government
. Since 2005, there has not been a major update to the census. There has been a lot of chatter about an exodus of people this summer, now that the school season is over, but so far there has only been anecdotal evidence from moving companies.
Al Mazaya Holding
is reconsidering its takeover of First Dubai Real Estate Development
, Emirates Business 24/7 reports. The company says that Al Shall Consulting Company advised them not to go ahead with the acquisition of the final stake (it already owns 67 per cent of the company) because "the time is not right".
More news after the jump ...
The planned merger between
Emaar Properties
and the property companies of
Dubai Holding
is l
ikely the first of a "wave of mergers"
, Isaac John reports in the Khaleej Times. Meanwhile, Standard & Poor's
revised the CreditWatch implications for Emaar to "developing" from "negative"
after the announcement of the merger talks.
The
Ras al Khaimah Investment Authority
said
that five developers have registered with the RAKIA RERA property regulator
, including
Select Group
,
Manazil Real Estate
,
Pure Real Estate
,
Stallion Properties
, and
e-myproperty
.
Standard Chartered
is offering mortgages to buyers of homes in Executive Towers in Business Bay
.
