RELO NEWS
UAE-based corporate hospitality company blueground said work has been completed on 150 of its fully-furnished rental apartments located in some of the most popular areas of Dubai and the units are now ready for occupation.
A major player in Dubai, blueground leases and upgrades high-quality properties in the most sought-after locations, and subsequently rents them out to business travelers for mid-to-long term duration.
The property market in Dubai remained favourable to tenants and buyers in July, with rents continuing to fall and prices in some locations still showing a down-trend.
The cost of renting flats across various communities registered an overall decline of 2 per cent last month compared to the same period in 2015, according to a real estate portal with thousands of property listings.
The average annual rent for studio apartments in Dubai stood at Dh57,000, down by 6 per cent from a year ago, but stable when compared to the average rent in the first six months of 2016.
Land plots in Dubai World Central have been made available for non-UAE citizens to purchase after a decision was made by Dubai’s ruler HH Shaikh Mohammad Bin Rashid Al Maktoum.
“The decision grants non-UAE nationals the rights to absolute ownership of lands and properties located in land plots number (205), (206) and (207) in the Dubai World Central area (521),” according to the Dubai Media Office.
Individual sponsors who fail to provide health insurance for themselves, their employees and dependants by the June 30 deadline set by Dubai Health Authority will not face fines this year.
A grace period of six months has been offered by DHA as it plans to enforce the final stage of its mandatory health insurance scheme for all residents.
Health insurance is now linked to Dubai residency visas in an effort to have widespread coverage for the 3.8 million people living in the emirate.
Dubai Marina and Abu Dhabi’s Khalifa City A neighbourhoods were the most desirable locations in the UAE last year based on searches on classifieds website Dubizzle.com. Dubai Marina received 91 million searches overall for rent and sale properties, with more than 68 million searches solely for rental properties, Dubizzle said in its annual property report this week.
In the Knowledge and Human Development Authority’s latest annual inspection report, 12 schools were rated ‘outstanding’, while 51 were considered to be ‘good’, 67 were deemed ‘acceptable’ and 13 were found to be ‘unsatisfactory’.
Arabian Business reveals the highest ranking schools in Dubai this year.
A $270 million (AED1 billion) marina development featuring the UAE’s first ‘water homes’ is to be built in Dubai’s Business Bay, it was revealed on Tuesday. Dubai Holding, through its real estate subsidiary Dubai Properties, unveiled plans for Marasi Business Bay, a 12 km waterfront scheme comprising shops, restaurants, a 1,250-berth marina and a park.
Annual spending on mobility across the Middle East, Turkey, and Africa (META) is expected to reach $185 billion by 2019, according to IDC's new 'Mobility Spending Guide'. This represents a 10.2% share of worldwide enterprise and consumer spending on mobile devices, software, and services, which is forecast to total $1.8 trillion in 2019.
Employers in the Emirate of Dubai must provide health insurance coverage to all residents and visitors by June 30, 2016, according to an announcement by the Dubai Health Authority. Employees must provide at least basic coverage for their dependants and domestic workers under an approved plan by that date.
The General Directorate of Residency and Foreigners Affairs in Dubai (GDRFA) has introduced a new electronic system for submission of visa applications which requires the foreign employee to appear at one of approximately 600 approved typing centers in Dubai, but eliminates the need for multiple appearances at a GDRFA branch. Most entry permits for visitors and residents will be issued electronically and emailed to the applicant, allowing the foreign national to carry the emailed copy instead of the original entry permit.
Udrive, a Dubai-based concept, launched the pay-as-you-go car rental service in Dubai, UAE.
The cars can be booked and paid for via an app, offering Dubai’s most convenient and affordable car rental options, said a statement.
Once the driver has gone over four hours with the car, a flat day rate of Dh120 ($32.6) applies, and the driver can use the car for the remainder of the day, it said.
The cost of renting apartments appears to have dropped more in Abu Dhabi than it has in Dubai, at least according to the data compiled by one property analyst.
Leasing rates at residential buildings in the UAE capital have registered a 4 per cent decline on average since the beginning of the year until the end of February, according to real estate portal Bayut.com, which has about 1,000 property listings. In comparison, rents in Dubai went up by an average of 4 per cent during the same period, though overall rates remain cheaper compared to last year.
Leading telecommunications operator du has unveiled the Smart Healthcare Programme on UAE Innovation Week at its interactive stands displaying how innovation can help save lives.
The Smart Healthcare Programme will address global healthcare issues, including risk of incorrect emergency diagnosis and lack of patient history access, as well as position Dubai as a global E-Health hub, said a statement.
The aim of the programme is to use the current and future Smart City infrastructure to embed medical record profiles into every resident’s Emirates ID.
Leading German hospitality company Steigenberger Hotel Group has expanded its portfolio to the Middle East with its first property in the UAE – the five-star, waterfront Steigenberger Hotel Business Bay in Dubai.
The flagship Steigenberger Dubai is right at the heart of the city close to the iconic Burj Khalifa – the world’s tallest tower and the Dubai Mall in the cosmopolitan Downtown neighbourhood.
In recent years, Dubai has further cemented its position as a regional hub. The growth of logistics, tourism, financial & business services, as well as the emirate’s image as a luxury lifestyle destination, have all been central to this – so much so that others in the region are emulating some of the elements that make it a success. But how does Dubai – and indeed the UAE as a whole – stack up against other global hubs?
Dubai is one of only four cities in the world where the rent for an average unfurnished three-room apartment is more than $3,000 a month, according to a recent study.
The other cities include London at $3,350, Hong Kong at $4,220, and New York at $4,320, said the 16th edition of the UBS Prices and Earnings study.
The study examined prices, wages and earners' purchasing power in 71 cities worldwide.
