About 60 per cent of the Jumeirah Lake Towers (JLT) development has been completed, Dubai Multi Commodities Centre (DMCC), the community's master developer and operator, said on Monday.
This milestone was achieved after Armada Group, a sub-developer, completed the third tower in its mixed-use cluster.
Dubai rentals
Tuesday, September 28, 2010
Tuesday, September 21, 2010
Service Fee Defaulters Face Losing Their Homes
Dubai homeowners who have failed to pay off the service fee will now have to wash their hands off from their property.
The Dubai Land Department will repossess and auction off the homes of those who fail to pay maintenance fees as part of the emirate’s new strata law, according to an official notice issued yesterday.
As developers hand over the maintenance of shared buildings and communities to homeowners associations, hundreds of owners who owe thousands of dirhams in service charges risk losing their properties.
Dubai marina
The Dubai Land Department will repossess and auction off the homes of those who fail to pay maintenance fees as part of the emirate’s new strata law, according to an official notice issued yesterday.
As developers hand over the maintenance of shared buildings and communities to homeowners associations, hundreds of owners who owe thousands of dirhams in service charges risk losing their properties.
Dubai marina
UAE Banks To Make Dh3bn In Dubai World Provisions
The UAE banks could book up to Dh3 billion in provisions related to Dubai World's debt restructuring in the second half of this year, dampening the banking industry's performance, according to investment bank Shuaa Capital.
Sofia El Boury, a banking analyst at Shuaa Capital's Research Department, said all of the UAE banks have not come clear on their exposure to Dubai World "provisions which could range between Dh2 billion to Dh3bn in the second half considering the latest data."
Sofia El Boury, a banking analyst at Shuaa Capital's Research Department, said all of the UAE banks have not come clear on their exposure to Dubai World "provisions which could range between Dh2 billion to Dh3bn in the second half considering the latest data."
Wednesday, September 1, 2010
Saudi Mortgage Law To Focus On Affordable Housing Shortage
Experts have raised a warning against the lack of low-cost accommodation in Saudi Arabia. According to real estate experts, this shortage in the affordable property will reflect in the agenda of the mortgage law, which Saudi Arabia is planning to implement soon.
“Most new developments are targeting the high-income segments of the population which constitute a relatively small share of existing demand,” said Rakesh Kunhiraman, who is the director at the consulting division of Oxford Business Group (OBG).
“Most new developments are targeting the high-income segments of the population which constitute a relatively small share of existing demand,” said Rakesh Kunhiraman, who is the director at the consulting division of Oxford Business Group (OBG).
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