The Dubai property sector
, Anjana Kumar reports today in Emirates Business 24/7. She cites interviews with a number of brokers and consultants, who say that a recovery will come alongside more attractive mortgage rates and affordable housing. Speaking to people at the same event, Alex Delmar-Morgan at Arabian Business reports that
visa regulations will be a key component of any market upturn in the next two years
.
Omniyat Properties
has handed over its Bayswater tower in Business Bay
, its first finished project in the area, Nathalie Gillet reports today. Omniyat is the first developer to start renting office space in the Dh110bn area, but that could be difficult because of infrastructure problems, like a lack of roads and spotty electricity.
Saudi Arabia looks like one of the regional markets most likely to grow at extraordinary rates over the next few years. There could be
a 50 per cent surge in demand with the introduction of a mortgage law
, Parag Deulgaonkar reported at Emirates Business 24/7. The total demand for the next four years could be in the range of 500,000 to 800,000 units, according to a report by the
Kuwait Financial Centre
(Markaz). Meanwhile, Saudi Arabia's
Saad Group
is dealing with slashed credit ratings and difficulties paying lenders
.
Parag also
has an interview with Nadia Zaal
, the developer behind the ultra-exclusive Nurai homes near Saadiyat island.
