The new rules follow an earlier scheme introduced in October forcing brokers marketing properties locally to gain permits before advertising homes.
David Godchaux, the chief executive of Core Savills, said better regulation of the market should be welcomed. He said there were brokers who were abusing their position by "selling international properties that may not exist, or may not exist in the form that they are selling them".
|Source: The National||Published: February 21, 2017|
The UAE has been ranked as the best country globally for first-time home buyers, according to MoveHub, which determined the best countries for first-time buyers using data from the Global Property Guide and the Hay's Group Global Salary Forecast.read more
|Source: Khaleej Times||Published: February 20, 2017|
DUBAI, United Arab Emirates: Meraas has appointed Core Savills as the exclusive agent for the sale of luxury residences at its waterfront destination Bluewaters, a vibrant cosmopolitan island that will also be home to Ain Dubai, the world’s largest observation wheel.read more
|Source: Press Release||Published: February 16, 2017|
The credit rating agency Standard & Poor’s has said that it expects house prices and rents in Dubai to continue to fall throughout 2017 because of the continued fallout from low oil prices and currency woes. In a note to investors yesterday, S&P forecasted that property prices and rents in the emirate would fall by between 5 and 10 per cent this year.read more
|Source: The National||Published: February 16, 2017|
Prime and mid-prime villa values in Abu Dhabi are anticipated to fall by at least 15% while apartments are anticipated to trail at 7%, a drop close to 2016 levels as similar market conditions persist, according to the latest market outlook for 2017 from leading real estate outfit Core Savills. Mid-market communities, particularly buildings with smaller units are predicted to maintain relative sale and rental price resilience and stay flat.read more
|Source: Press Release||Published: February 01, 2017|
“In the wake of continued contraction in demand anticipated over the next few quarters, Grade A and B office rents in Abu Dhabi are expected to fall by at least 10%-15%, a magnitude similar to 2016 rental drops” – predicts Core Savills. However, despite lower demand from blue chip/large corporates, the current lack of Prime/Grade A+ office stock, exacerbated by growing Grade B stock is expected to keep prime office rents relatively resilient...read more
|Source: Press Release||Published: February 01, 2017|
“In Dubai, flagship projects appear to create the demand and momentum for the construction of entire districts, in contrast to modern landmarks and recognisable flagships elsewhere, which have been created more organically, often within pre-existing city centres,” David Godchaux, CEO...read more
|Source: Gulf News||Published: February 01, 2017|
United Arab Emirates’ Emaar Properties is seeking potential real estate buyers through a showcase within British department store Harrods.
Working with Harrods Estates, a realty affiliate of the retailer, Emaar Properties has constructed a window installation and sales suite to display its 2017 Dubai Property Showcase while a second floor expansion is planned to open Feb. 1. Based in Dubai and established in 2001, Emaar...
|Source: Luxury Daily||Published: January 26, 2017|
Property prices in Dubai are due to fall further this year despite a slight uptick in values last month, according to a new report released on Tuesday. The general trend for house prices in Dubai in 2017 will be one of further gradual softening as the strong US dollar, to which the UAE dirham is pegged, an expected increase in interest rates and slow economic growth deter investors, according to property research company Phidar...read more
|Source: The National||Published: January 24, 2017|
Dubai-based developer Nakheel is to spend Dh150 million adding a total of 105 kilometres of cycling tracks around many of its communities in Dubai. The developer said that a series of new, linked routes are being created around Jumeirah Village Triangle, Jumeirah Islands, Jumeirah Park, Discovery Gardens and Al Furjan.read more
|Source: The National||Published: January 18, 2017|
Rents for two-bedroom apartments in majority of freehold areas across Dubai declined or remained stable, according to a comparative analysis of the official rent index for 2016 and 2017. Dubai Marina registered a 14 percent decline in 2017, with rentals for two-bed units starting at...read more
|Source: Arabian Business||Published: January 08, 2017|
Once pronounced dead after the global economic slowdown of 2008-2009, consultants and developers now say Dubai's off-plan property market is alive - and kicking - in 2017. Buying off-plan property refers to purchasing property in advance of its completion. In Dubai, the practice was rife...read more
|Source: Khaleej Times||Published: January 07, 2017|
Buying and installing solar panels may provide an attractive long-term return on investment but it is unlikely to significantly increase the value of your home. David Godchaux, the chief executive of Core Savills, said the "lack of awareness" surrounding sustainability issues in the UAE meant that those who spend money on the technology generally don’t benefit from a boost in their property’s value.read more
|Source: The National||Published: January 05, 2017|
The new Dubai Harbour project has been hailed by experts as a way for Dubai to make use of its existing strengths to create a new offering in the city without starting from scratch. The 20 million square feet project which was unveiled by Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai on Monday, will help to create a mass of marina berths in an area adjoining Dubai Marina, as well as bringing cruise tourists into a part of the...read more
|Source: The National||Published: January 03, 2017|
Cost-conscious home buyers in Dubai better have their funds ready - homes under Dh2 million are not staying unsold for long. And in the home finding rush, former tenants are switching to becoming landlords.read more
|Source: Gulf News||Published: January 01, 2017|
More than 80 per cent of business leaders in the UAE believe that the country’s economy would benefit from more affordable residential and commercial property. A poll of more than 500 executives carried out for The National by research company Borderless Access found that 83 per cent agreed that "better affordability in the UAE’s residential and commercial sectors will support businesses and the economy in both the short and...read more
|Source: The National||Published: December 31, 2016|
Tighter budgets, staff cuts and business consolidation as a result of lower oil prices and global economic worries all have affected Dubai’s office property market. A remarkable number of large companies run their entire Middle East operations from the emirate, particularly in the oil business...read more
|Source: Gulf News||Published: December 28, 2016|
It's almost time to call it wraps for 2016. The year has been a mixed bag of fortunes for the Dubai property sector, with affordable properties leading recovery while the prime market continuing to feel the pressure both in the sales and rental markets.read more
|Source: Khaleej Times||Published: December 27, 2016|
Core Savills CEO, David Godchaux, says: “We continue to see rents in lease renewals to be market down or at least see no change. The trend of tenants moving out to outer areas, trading connectivity for larger units, exists, however, it is still slow as the cost offset doesn’t match up to the inconvenience and charges incurred.”read more
|Source: Press Release, Zawya||Published: December 19, 2016|
Core Savills estimates that peripheral communities such as Jumeirah Village and Dubailand will see rents drop by two to four per cent as more supply is delivered. However, rents are likely to remain steady in prime communities in 2017 owing to limited new supply and consistent demand.read more
|Source: Khaleej Times||Published: December 19, 2016|
Dubai: Residents burdened by paying out high rents could be in for some respite in 2017 — 20,000 new homes are to be delivered next year and the majority of them in more affordable locations such as Sports City, Dubailand and Silicon Oasis. The three locations could make up 50 per cent of...read more
|Source: Gulf News||Published: December 19, 2016|
Luxury real estate in Dubai was hit, but insiders say it never was seriously threatened by the slow performance that dominated the marketplace in past few quarters. Dubai remains firmly a hotspot for wealthy buyers looking for high-end property, especially with solid combination...read more
|Source: GN Property||Published: December 14, 2016|
The slowdown in the advertising industry has led one of the region’s biggest agencies to transfer some staff from Dubai to Beirut to trim costs.
Omnicom Media Group is shifting staff from its Dubai Media City regional headquarters to Beirut as big brands slash marketing budgets and corporates across the region cut back on spending.
|Source: The National||Published: December 04, 2016|
It seems appropriate in The Year of Reading to step into Wadih Haddad’s office in Al Quoz and find shelves stacked with business books.
The chief executive of the self-storage company The Box has copies of lots of business biographies, management manuals and investment guides, with the shelves containing everything from Good to Great by Jim Collins to the appropriately named Never Give Up by Donald Trump.
|Source: The National||Published: December 03, 2016|
Known as a city in which penthouse living is very much in vogue, Dubai’s urbanites have traditionally been drawn towards the tallest towers with the finest city views.
But high profile building fires such as a blaze which engulfed the Address Downtown Dubai tower on New Year’s Eve last year and a...
|Source: The National||Published: November 24, 2016|
“There are definitely more buyers in this district than sellers, particularly for The Springs due to the lower entry point, a perceived maturity reached by the Emirates Living communities, and a deeper market than in many other smaller developments,” said David Godchaux, CEO...read more
|Source: Gulf News||Published: November 23, 2016|
Dubai’s residential property market is set to rebound next year with prices expected to increase by 4 to 5 percent, Craig Plumb, head of research, MENA, JLL, told Arabian Business.read more
|Source: Arabian Business||Published: November 23, 2016|
Brokers and analysts are certain that Dubai residential house prices will rise next year but disagree over the speed of the property market’s recovery. Two reports yesterday by JLL and dubizzle and by Core Savills are forecasting that Dubai’s property market will recover much faster than the end of next year, which their rival Cluttons had set as a target on Sunday.read more
|Source: The National||Published: November 21, 2016|
Affordable housing in Dubai is outperforming a sluggish real estate market, with almost half of property search enquiries and sales transactions recorded in this sector, new research reveals.read more
|Source: Arabian Business||Published: November 21, 2016|
The Core Savills reports holds out a warning that prime luxury realty in Dubai could yet see some declines next year. “We expect prime apartment districts - such as Downtown, Dubai Marina and Palm Jumeirah - to decline 2-5 per cent further until early 2017,” it adds.read more
|Source: Gulf News||Published: November 21, 2016|
"We have to be very cautious since this is not a transportation means that has been built anywhere else in the world and it's speculative at this stage to say how much it would cost. But it is likely that during the first few years, the very high costs would not appeal to the mass market," said David Godchaux, CEO of Core Savills.read more
|Source: Khaleej Times||Published: November 20, 2016|
The rally in the US dollar since Donald Trump’s election last week risks delaying Dubai’s property market recovery, according to experts.
The strength of the dollar has been cited as a contributing factor to the decline in Dubai’s property market since mid-2014 as the UAE dirham’s peg to the currency has made homes more expensive for buyers from most countries.
|Source: The National||Published: November 15, 2016|
With high disposable income, Dubai's millennials make up the bulk of first-time buyers, a fact that holds true more for Western and Arab expats than for Asians, who prefer to make their first property.read more
|Source: Khaleej Times||Published: November 13, 2016|
David Godchaux, chief executive officer of Core, UAE associate of Savills, told Construction Week: "We have to exercise prudence at this stage." Godchaux pointed out that there is always uncertainty after elections, and that this is likely to be more pronounced given the surprise nature...read more
|Source: Construction Week||Published: November 09, 2016|
Visitors to Dubai are by far the highest spending tourists in the world, splashing out nearly twice the average of 11 other major cities around the world including New York and London, according to new research.
Savills' latest 12 Cities report found that around 901 million domestic and overseas visitors were attracted to the twelve cities examined during...
|Source: Arabian Business||Published: November 06, 2016|
Tourists in Dubai spend almost twice as much money while visiting Dubai compared to those visiting other major cities, including London or New York, according to the results of a new study released by Core Savills.
Dubai ranked eighth on Savills’ list of the most attractive cities for tourists in 2015, ranking after Paris and before Mumbai and was only Arab city on...
|Source: Hotelier Middle East||Published: November 03, 2016|
Dubai: Dubai’s coolest location to work could yet be the place to live as well. And all that with a canal by its side. The developer of Dubai Design District confirmed that a decision on the residential components will be taken once the infrastructure works at the 21 million square feet destination...read more
|Source: Gulf News||Published: November 02, 2016|
Tourists in Dubai spend almost twice as much money while visiting the emirate as those holidaying on other major cities such as London or New York, according to the results of a new study released on Monday. “The research shows the highest spending visitors, by far, are Dubai’s, who spend nearly twice the average of our 12 cities,” said David Godchaux, CEO of Core Savills, the Dubai subsidiary of international real estate agency Savills.read more
|Source: Zawya||Published: November 01, 2016|
Visitors to Dubai outspend tourists in other major cities across the globe.
And the huge influx of holidaymakers bolsters the city’s population on average by 10 per cent, which equates to 500 people per sq km. The data was revealed in Core Savills’ 12 Cities H2 report, which lays bare how crucial tourism is to the world’s top cities.
|Source: 7 Days||Published: November 01, 2016|
Visitors to Dubai are "by far" the biggest spenders among tourists to international cities including London, New York, Tokyo and Paris, according to new research by Core Savills.
Overseas travellers to the emirate spend almost twice the average of 12 cities surveyed by Savills. "The research shows the highest...
|Source: The National||Published: October 31, 2016|
Dubai: Housing rents are still getting cheaper for many tenants in Dubai, according to the latest real estate market data.
Rents in the emirate fell by 2 per cent over the last three months to average Dh3,000 less per year than in the second quarter.
|Source: Gulf News||Published: October 30, 2016|
DUBAI: Dubai’s hotel and retail sector expansion strategy that overlooks short-term growth concerns is spot on — the city will need all of the extra capacity once the visitor numbers start heading up again, according to a new report brought out by Savills, the real estate consultancy.read more
|Source: Gulf News||Published: October 27, 2016|
Abu Dhabi, UAE – The eighth edition of the International Real Estate and Investment Show (IREIS 2016), the only real estate event in Abu Dhabi...read more
|Source: Zawya||Published: October 26, 2016|
Dubai's real estate market might be in a bit of a slump at the moment, but Ali Rashid Lootah, Chairman of Nakheel Properties, remains confident in the prospects for the city. Speaking to PropertyGuru, Lootah shared that the market has already hit the bottom, and is unlikely to continue declining. Lootah also suggests that the dip in prices was brought about by a previous rapid escalation in prices which meant that the market was due for a correction.read more
|Source: PropertyGuru Singapore, Yahoo News Singapore||Published: October 23, 2016|
Smaller offices in Dubai International Financial Centre (DIFC) are commanding a 15-20 percent higher rent than the market average due to a lack of availability of similar unit sizes, according to a new report.read more
|Source: Arabian Business||Published: October 21, 2016|
The Dubai Water Canal is all set to start flowing starting November. However, scant details have emerged of the residential, hospitality and other leisure attractions that will flank the banks.read more
|Source: Khaleej Times||Published: October 19, 2016|
Average rentals remained low across most submarkets throughout Q3, according to the Dubai Office report from Core Savills.
After a sharp annual drop of more than 20%, rents have finally reached its lowest in Jumeirah Lake Towers (JLT), with the lower rental range...
|Source: Construction Week||Published: October 18, 2016|
Average office rents in most submarkets of Dubai were flat or fell during the third quarter, according to Core Savills. Rents in six areas – Sheikh Zayed Road, DIFC, Tecom, Business Bay, Deira and DAFZA – were unchanged during the period, the latest Dubai Office Report shows.read more
|Source: ME Construction||Published: October 18, 2016|
Office rents in Dubai continued to come under pressure in the third quarter of the year as companies retrenched staff and considered future strategy.
According to the latest Dubai Office Report from Core Savills, average office rents in nearly half (six) of the submarkets the broker analyses fell during the three months to the end of September including Downtown Dubai, JLT, Bur Dubai and Garhoud.
|Source: The National||Published: October 17, 2016|
The clusters in Tecom (now known as Barsha Heights) and the funky Dubai Design District continue to be the top performing office clusters in Dubai, while there is a turnaround in the fortunes of JLT (Jumeirah Lake Towers) during the third quarter.read more
|Source: Gulf News||Published: October 17, 2016|
It's exciting times in the Dubai real estate market. This year, we've had a host of new housing developments come online, and property giants have shown off plans for plenty more projects, which should be ready in time for Expo 2020.read more
|Source: Khaleej Times||Published: October 11, 2016|
The race is on to claim the title of the world’s tallest tower, with ground now broken on “The Tower at Dubai Creek Harbour”. The first step in the project’s lifecycle was overseen by His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai.read more
|Source: Gulf News||Published: October 11, 2016|
Dubai: Property related advertising — especially those marketing overseas properties — is in for a period of readjustment brought on by Dubai’s strict new licensing requirements on all such ads. For media buying houses and the many media platforms this could mean a further loss of income from property-driven ad campaigns, at least in the short term.read more
|Source: Gulf News||Published: October 06, 2016|
Got Dh40 million and some spare change — for registration fees and related costs — on you? Or how about Dh75 million? If the answers are “yes”, then a developer has got the villas — with private beach access, of course — for you on The Palm.read more
|Source: Gulf News||Published: October 05, 2016|
The head of Dubai broker Core Savills believes that the recovery of the emirate’s property market may have already begun. In response to a commentary article in The National by veteran Dubai markets commentator Peter Cooper, which suggested that now is the best time to buy property in Dubai, Core Savills’ chief executive David Godchaux said: "I actually think, and this is not to be provocative, that in many areas the right time to...read more
|Source: The National||Published: October 02, 2016|
Dubai property brokers will need approval before issuing advertisements and social media campaigns under new rules. Brokers this week received a circular from the Real Estate Regulatory Agency (Rera) alerting them to the need to apply for permits before issuing "any real estate announcements" – this includes print and radio ads, as well as those posted on social media such as Facebook and Twitter.read more
|Source: The National||Published: September 27, 2016|
Post-UK referendum uncertainty has compounded the impact of successive tax rises on values in London’s prime housing market and will delay the sector’s return to growth while boosting the Dubai market, according to a report by the international property adviser Savills.read more
|Source: The National||Published: September 21, 2016|
When, in February 2015, a relatively rookie developer Nshama launched Town Square, a sprawling 750-acre development in Dubai, investors took note. Oil prices were sliding – although they had yet to touch their record lows - and Dubai’s real estate deals were facing headwinds due to volatility in certain markets.read more
|Source: Forbes Middle East||Published: September 15, 2016|
There's the Brexit in the perceptions of overseas investors and then there is the reality within London's property market... and right now, it's difficult to merge the two positions. ''Nothing like a downturn is happening in London now,'' said Hugo Thistlethwayte, Director and Head of International Residential (Operations) at Savills. ''But it's a tough sell with investors because their impression is bargains are there for the taking in London."read more
|Source: Gulf News||Published: September 14, 2016|
Master-developers in Dubai have cottoned on to the best way to overcome the soft demand for high-end property, sell plots instead. A trend that was initially limited to one or two developers is now gaining wider acceptance, and even have them targeting not just the very high net worth investor.read more
|Source: Gulf News||Published: September 14, 2016|
“But where’s my property?” The many who bought into the great off-plan launches Dubai realty saw from 2012 are starting to ask this question of their developers … and probably not getting much by way of a reply. For them, the long wait continues for their properties to be delivered. It is widely estimated that only 60 per cent or so of these launches have gone through the handover process.read more
|Source: Gulf News||Published: September 08, 2016|
Dubai’s strengthening property market, the struggle for families to secure a home deposit and a new ‘downtown for the desert’ were among the buzzwords on the lips of delegates at the second day of Cityscape Global. The general sentiment among industry figures was that aside from past downturns and a drop in oil prices, the emirate’s property sector is gaining the confidence of potential buyers.read more
|Source: 7Days||Published: September 08, 2016|
Just over half of tenants in Dubai plan to buy their own property, a survey suggests. Core Savills’ Dubai Residential Sentiment Survey, conducted among 700 existing tenants, indicates a growing appetite to own, with 51 percent saying they plan to buy a property in Dubai “in the future” and 27 percent of those saying they intend to buy within the next 12 months.read more
|Source: Arabian Business||Published: September 07, 2016|
Identifying the boundaries of the centre in any large metropolitan area is an interesting - and often controversial - exercise, as central real estate prices typically command a premium.read more
|Source: Arabian Business||Published: September 06, 2016|
The difficulty to secure finance is the greatest deterrent to potential property buyers. CEO David Godchaux talks more about the latest Core-Savills Dubai Residential Market Sentiment Survey on Dubai Eye.read more
|Source: Dubai Eye Business Breakfast||Published: September 06, 2016|
CEO David Godchaux chats live on the Dubai Eye's Drive Live show to discuss some of the findings from the recent Dubai Residential Market Sentiment Survey, as part of the weekly Understanding Property feature.read more
|Source: Dubai Eye - Dubai Drive Live||Published: September 05, 2016|
It would appear to be the year of the big project once again in Dubai. The Opera House has opened its doors, the IMG Worlds of Adventure Theme Park has blasted off and now the mammoth Dubai Water Canal is set to be unveiled at the end of the year.read more
|Source: Gulf News||Published: September 05, 2016|
The biggest single regeneration project in London, which features a major new film studio, is on show at Dubai’s Cityscape Global this week. The £8.4 billion (Dh41.01bn) Greenwich Peninsula and its latest residential development Upper Riverside consists of prime waterfront real estate surrounded on three sides by the River Thames.read more
|Source: The National||Published: September 04, 2016|
After almost two years of declining property prices, Dubai’s real estate industry is hoping a recovery is imminent. However, many people fear the slowdown could continue for a while longer as global economic uncertainty dents investor sentiment in the Gulf. In July, most of the emirate’s biggest real estate consultancies recorded declining sales prices for the sixth consecutive quarter.read more
|Source: Arabian Business||Published: September 04, 2016|
Leading London developer Knight Dragon will showcase exceptional investment opportunities within London’s largest single urban regeneration project at Cityscape Global 2016.Greenwich Peninsula and its latest residential development Upper Riverside are being unveiled to international investors in Dubai for the first time, with opportunities for GCC investors to purchase prime waterfront real estate directly on the River Thames.read more
|Source: Zawya||Published: September 03, 2016|
House prices in Dubai moved into positive territory for the first time in two years in the second quarter, according to Core Savills. The property consultancy said that after seven consecutive quarterly declines, Dubai’s residential sales market witnessed a 1 per cent marginal quarter-on-quarter growth in the three months to June.read more
|Source: The National||Published: September 01, 2016|
Manisha Dayaram, Head of Projects at Core UAE, associate of Savills, the realtors of the exclusive City Walk complex, reveals why Meraas’s celebrated project is a unique expat haven.read more
|Source: DesignFix||Published: August 31, 2016|
Wasl Group has launched a major mixed-use project in Bur Dubai that is set to contain almost 1,500 apartments and three mid-market hotels with a total of 528 rooms and serviced apartments. The organisation said that the Port Views project is being built on a 1 million square feet site close to Port Rashid in Bur Dubai. It will house 1,477 apartments, the three hotels, shops, restaurants, a health club, a mosque and a public park.read more
|Source: The National||Published: August 28, 2016|
The era of double digit property price increases in Dubai has gone for good and the market will be much more stable in the run up to Expo 2020, according to industry expert David Godchaux, CEO of Dubai-based Core, UAE associate of Savills.read more
|Source: Arabian Business||Published: August 27, 2016|
The downward trend of apartment rental prices in Dubai continues. According to the latest data from real estate website Bayut, the average rental price for a studio apartment in the city was AED57,000, meaning that it has fallen by six percent since the start of the year.read more
|Source: Shortlist Dubai||Published: August 24, 2016|
Dubai’s real estate market is likely to reach maturity in the lead-up to Expo 2020, according to David Godchaux, chief executive officer of Core, UAE associate of Savills.
Speaking ahead of Cityscape Global 2016, which will take place in Dubai from 6-8 September, Godchaux predicted an end to the boom and bust nature of the emirate's pre-crisis real estate market.read more
|Source: Construction Week||Published: August 22, 2016|
Free-zone areas in Dubai continue to maintain strong demand for office space while the economic slowdown seems to curb appetite for office space, the latest research from an international real estate consultancy said.read more
|Source: Khaleej Times||Published: August 17, 2016|
Just 24 kilometres from Berlin’s city centre, the affluent suburb of Potsdam, the former residence of the Prussian kings and the German kaiser until 1918, is again starting to attract the sort of well-heeled European elites that built their mansions there nearly a century ago.read more
|Source: The National||Published: August 12, 2016|
Dubai is one of the most welcoming places in the world for start-up businesses, with a wide selection of free zones and onshore locations offering competitive rents, according to a report by Core Savills UAE.read more
|Source: GN Property||Published: August 12, 2016|
Weak global trade volumes and oil price volatility have resulted in a fall in rents in Dubai's industrial real estate sector during summer. Despite being the regional logistics hub, Dubai is seeing weak demand for its warehouses, according to Core, the UAE associate of Savills.read more
|Source: Khaleej Times||Published: August 10, 2016|
Dubai is still in the top 10 most expensive cities in the world to live and work, according to a new study. The Savills Live/Work Index placed Dubai in eighth, despite a fall in property and office rents in the past year amid weakened oil prices, which has affected occupier demand.read more
|Source: The National||Published: August 9, 2016|
The latest Industrial Market Performance report for summer 2016 from Core, UAE Associate of Savills, reveals the global trade volume and continuing oil price fluctuation is impacting demand for industrial and warehousing real estate.read more
|Source: The Big 5 Hub||Published: August 07, 2016|
New York now ranks as the world's most expensive city in which to accommodate staff, according to report by real estate firm Savills.
This is despite recent signs of slowing office rents and elevated use of incentives and concessions to both office and residential tenants in...
|Source: Khaleej Times||Published: August 06, 2016|
CEO David Godchaux says: "Many of the existing occupiers are trying to optimize current footprint and evaluate relocation costs while new entrants are generally cautious when undertaking their first phase expansions in the region. This has led to a marginal release in supply, albeit mostly in the Grade B category.read more
|Source: Zawya||Published: August 04, 2016|
A decree issued this month to ensure that workers paid below Dh2,000 per month must be provided free housing by employers is not likely to push up costs of worker accommodation in the UAE, according to experts.
The decree issued by the Ministry of Human Resources and Emiratisation states that any employer hiring more than 50 workers must...
|Source: The National||Published: July 30 2016|
Higher floors in tall towers in Dubai Marina command over 20 to 30 per cent premium in the rental and sales market, according to property consultancy Core.read more
|Source: Emirates 24|7||Published: July 25, 2016|
Worker housing projects in the United Arab Emirates (UAE) are expected to draw increased interest from investors after the government issued a decree last week requiring companies with more than 50 employees to provide free accommodation for those earning less than 2,000...read more
|Source: Zawya||Published: July 25, 2016|
What do you get when prices are low and rents are high? A buyer’s market, which is how industry players have characterised Dubai’s real estate sector this year. Real estate sales prices in the emirate are already considerably lower than in cities such as London, New York, Hong Kong, Paris, Mumbai, Singapore and Sydney, according to Savills World Research, but rental rates here are far more expensive, resulting in one...read more
|Source: Hina Navin, Special to Property Weekly, Gulf News||Published: July 20, 2016|
Land prices in master communities along Dubai Metro's proposed Route 2020 extension could see an upsurge in the lead-up to Expo 2020 as developers take advantage of accessibility afforded by the network, experts opine.read more
|Source: Zawya.com||Published: July 20 2016|
Realty transactions worth Dh113 billion were achieved in Dubai in the first six months of 2016 through 28,251 sales, mortgages and other transactions, the Dubai Land Department (DLD) said. This compares to the Dh129 billion registered in the corresponding period of 2015 and Dh113 billion recorded in the same half of 2014.read more
|Source: Khaleej Times||Published: July 19 2016|
According to the latest figures released by Core, UAE Associate of Savills, the official occupancy rates in the Business Bay recorded a fall of 3 per cent during the previous quarter.read more
|Source: Top News Arab Emirates||Published: July 18 2016|
Office rents in some of Dubai’s most established business locations fell in the three months to the end of June as a glut of new office stock drove markets south, according to Core, the UAE associate of property broker Savills.read more
|Source: The National||Published: July 14 2016|
The upscale office towers on Shaikh Zayed Road are facing intense rental pressures — from the new commercial properties coming just up — and off — Dubai's main highway. So much so, the older offices have seen average rental declines of 6 per cent from the new Grade A supply in Dubai Trade Centre District (DTCD) and Dubai Design District (D3).read more
|Source: Gulf News||Published: July 14 2016|
Prime central Dubai, both Downtown and Sheikh Zayed Road, saw a 6% drop in rents in Q2 2016 as they experienced growing competition from the arrival of new Grade A supply at Dubai Trade Centre District and Dubai Design District, coupled with competitively priced stock at Business Bay.read more
|Source:||Published: July 14 2016|
This summer in Dubai has been one of the busiest yet for expatriates to relocate, say industry watchers. While the summer months of May and June traditionally see several families waiting for the school term to come to a close before they relocate, this year has seen a spike in international moving by expatriates in the UAE.read more
|Source: Khaleej Times||Published: July 13 2016|
At the macro level, the aftermath of the UK’s vote to exit the European Union seems to be the only latest event to inject a further dose of uncertainty in the global markets. In its World Economic Outlook report in April, Too Slow for Too Long, the International Monetary Fund (IMF) brought down its global growth forecast this year to 3.2 per cent from 3.4 per cent, although growth is projected to strengthen to 3.5 per cent next year.read more
|Source: GN Property||Published: 13 July 2016|
Prime residential real estate will continue to drive the sentiment-driven market in the second half of the year, analysts say. According to David Godchaux, CEO of Core, UAE associate of Savills, ultra-high-net-worth individuals (UHNWIs) remain attracted to Dubai's ultra-prime property developments.read more
|Source: GN Property||Published: July 14 2016|
The completion of the Dubai Canal project over the next few months could help to transform the city by opening a waterway, currently stranded in Business Bay, for leisure use and by creating swathes of valuable new real estate. The 3.2-kilometre extension of Dubai Canal from Business Bay to the Arabian Gulf is progressing at paceread more
|Source: The National||Published: June 30, 2016|
The inevitable has happened. Britain has overwhelmingly voted to leave the European Union (EU). So, what does it imply for investors from the Gulf and Middle East who have invested billions of dollars in the UK property market?read more
|Source: Khaleej Times||Published: June 25, 2016|
Gone are the days when expats had to stifle their dreams to own a property in the UAE as wide options are available today for them to invest in plots and apartments across the seven emirates. Dubai remains a popular choice for majority of expatriates who consider the UAE as their second home and prefer to have an apartment in the emirate.read more
|Source: Khaleej Times||Published: June 23, 2016|
Dubai’s most sought-after areas are seeing a significant slump in sales this year compared to the same period last year, according to a new report. Core Real Estate charted transactions in the first six months of this year when measured against H1 in 2015.read more
|Source: 7Days||Published: June 22, 2016|
The number of the most expensive villas sold on Dubai’s prestigious Palm Jumeirah fell by nearly half in the first six months of 2016 compared with a year earlier as sellers shied away from marketing property in a falling market.read more
|Source: The National||Published: June 21, 2016|
CEO David Godchaux chats live on the Dubai Eye Drive Live show with hosts Tim Elliott and Ana Schofield about the latest trends in Dubai's property market as part of the weekly Understanding Property feature.read more
|Source: Dubai Eye||Published: June 13, 2016|
Dubai's prime residential market is expected to remain buoyant until 2020 according to the latest report from Core, UAE associate of Savills. The in-depth H1 Dubai Investment Outlook report reveals the prime residential market will benefit from limited availability in the few established areas and the steady demand, aided by the growing pool of regional and global investors looking to re-enter the bottoming market.read more
|Source: The Big 5 Hub||Published: June 13, 2016|
In late-May, property specialist Core, UAE associate of Savills, announced its Dubai Investment Outlook H1 2016 report noting that residential, office and warehousing locations performed strongest during the first six months of the year, while grade-B secondary location offices, affordable residential developments, and four- and five-star hotels proved less attractive investment options.read more
|Source: Construction Week Online||Published: June 12, 2016|
When motivated to "sell for survival", client-orientated selling can become a sequence of contrived, painful-to-watch cavalcades. Remarkably, the dilemma real estate brokers face is not becoming aware of these biases alone, rather it's the ensuing dissonance experienced when the "inner moral compass" conflicts with the necessity to put bread on the table.read more
|Source: Khaleej Times||Published: June 7, 2016|
The UAE’s retail real estate segment has been growing fast and ranked among the world’s most competitive. In its Global Retail Destination Index 2016 report, UK consultancy Savills states: “Dubai is forecast to report the strongest growth in retail sales over the next five years, potentially challenging London’s West End’s current global position.”read more
|Source: GN Property||Published: June 1, 2016|
The latest Dubai Investment Outlook H1 2016 report from Core, UAE associate of Savills, reveals a stark contrast in fortunes for real estate sectors in the emirate, with some expected to remain at the forefront, while a struggle is predicted for others.read more
|Source: GN Property||Published: June 1, 2016|
Established prime residential, office, and warehousing locations were among Dubai’s H1 2016 real estate winners, according to Core, UAE associate of Savills. The property specialist’s Dubai Investment Outlook H1 2016 also found that mid-segment hotels and serviced apartments, and international curriculum schools, proved positive investment choices during the first six months of the year.read more
|Source: Construction Week Online||Published: May 30, 2016|
Opportunities in Dubai’s less visible sectors, such as Education, Hotel Service Apartments and Industrial, are gaining traction among investors. While they may not receive the media attention of the Emirate’s Residential and Office markets, the in-depth H1 Dubai Investment Sentiment report, from Core, UAE associate of Savills, highlights a growing appetite from investors, predicted to remain over the next five years.read more
|Source: Press release||Published: May 30, 2016|
A study published last week by Core, a UAE associate of Savills, said that there had been socio-economic and geopolitical deterrents to investors putting money into Dubai property. Its Dubai Investment Outlook report also said that although affordable and mainstream homes were offering higher yields for investors than prime units, historically they underperform prime property.read more
|Source: The National||Published: May 29, 2016|
Sales prices in some parts of Dubai have slumped by up to AED25,000 ($6,800) over the past year, according to a new report by Core, the UAE associate of real estate firm Savills. Its latest Dubai Investment Outlook H1 2016 report said that while some of the emirate's ultra-prime areas have shown relative resilience to price drops since Q1 2015, others have not fared so well.read more
|Source: Arabian Business||Published: May 28, 2016|
Top of the line apartment buildings on the Palm are holding their own amid the major corrections the rest of Dubai’s property market has been through in recent quarters. “Prices in the secondary market for the Fairmont Residences, Oceana Tiara and the Anantara Residences on the Crescent are currently ranging from Dh1,250 sq. ft. up to Dh2,500,” says David Godchaux, CEO Core, UAE associate of Savills.read more
|Source: Gulf News||Published: May 25, 2016|
Whatever be the reason, the wealthy are finding rich pickings on the Palm. According to data from Core, the UAE arm of the property services firm Savills, residential deals related to Palm properties have numbered 204 so far this year, with prices ranging from Dh1,145 to Dh4,930 a square foot. The most expensive villa sold during this period was a hefty Dh38 million.read more
|Source: Gulf News||Published: May 25, 2016|
Dubai has emerged among the top 10 world-class cities based on economic performance and global connectedness and competitiveness, according to a new report by global real estate firm Savills. Describing Dubai as a rising world-class city, Savills’ 12 Cities report aims to capture the best features that make cities powerful and important real estate markets for both investors and occupiers.read more
|Source: GN Property||Published: May 18, 2016|
The $141m (AED750m) Parc du Cap project on the French Riviera is set to be unveiled to potential Middle East investors at the end of May.
Real estate consultancy Core, UAE associate Savills, will reveal the full details of the exclusive residential and spa development at their office in Downtown Dubai.
|Source: Construction Week||Published: May 18, 2016|
Parc du Cap, a prestigious AED 750 million project on the French Riviera by Caudwell Collection, is to be unveiled to potential Middle East investors at the end of May.read more
|Source: Press Release - Zawya||Published: May 18, 2016|
Core, UAE associate of Savills, has received the 'Agency of the Month' award for April from Bayut. CEO David Godchaux said: “We are delighted to win this award based on the quality of our listings and number of leads. This rewards our commitment to bring the very best prime properties to the market."read more
|Source: Bayut.com||Published: May 16, 2016|
Slow elevator speeds and freezing conditions are among the major complaints of office workers in the region. A joint study commissioned by the Middle East Council for Offices and the Royal Institution of Chartered Surveyors on office environments and productivity, found that 67 per cent of respondents complained there is at least one factor in their workplace making them less productive, and three-quarters argued they would...read more
|Source: The National||Published: May 11, 2016|
As the Dubai office market starts to bottom out and softening capital values reflexively initiate exponential occupier demand, a salient challenge for landlords and owners persists — differentiation of their property in a commoditised office leasing market. The nuances of how to do this...read more
|Source: Gulf News||Published: May 11, 2016|
Sought after community, No 10. at City Walk presents for the first time the unique opportunity to own innovative freehold property in one of Dubai’s most exclusive neighborhoods, as they today announce their acceptance of offers of consideration and expressions of interest.
The premier luxury lifestyle apartments at City Walk, handled by Core, the UAE associate of Savills, and developed by Meraas, offer an...
|Source: Eye of Dubai||Published: May 10, 2016|
Local real estate developers must take into consideration the needs of SMEs, not only large international corporate companies, according to a new report from Core Savills. David Godchaux, CEO at Core Savills, has said that local real estate developers and landlords are increasingly addressing the demand from more than 350,000 locally-based SMEs.read more
|Source: Arabian Business||Published: May 10, 2016|
Developers must take into consideration the needs of small and medium-sized enterprises (SMEs), not only large international corporate companies, as the start-up sector is expected to represent 70% of Dubai’s non-oil GDP by 2021. Start-ups and SMEs make up 95% of all firms in Dubai, accounting for 86% of the workforce and currently contributing around 60% to the non-oil GDP generated in the Emirate’s economy.read more
|Source: Press Release||Published: May 08, 2016|
Danube Group sought to tap into the largely ignored affordable housing sector in Dubai when it first entered the property market in 2014. After a series of sold-out projects, Tuesday's launch of an $81-million tower is the latest step in the conglomerate's bid to more than double turnover to over 6 billion dirhams ($1.633 billion) by the end of 2016.read more
|Source: Zawya||Published: May 04, 2016|
Dubai’s Department of Economic Development (DED) has issued a statement denying that it had taken action against anyone for making negative comments about the emirate’s economy. The DED said there was “no truth in rumours" that it had penalised any company or individual for commenting on economic matters, adding that “no government entity is empowered to act against expressing such opinions".read more
|Source: The National||Published: May 02, 2016|
Nestled in the heart of Dubai’s prestigious Jumeirah 1 district, No 10 City Walk is seeing strong end-user demand from Emiratis and committed expats ahead of its completion in the second quarter. The building is part of a low- and mid-rise residential development by Meraas and offers buyers a once-in-a-lifetime opportunity to call one of the emirate’s most exclusive addresses home.read more
|Source: Gulf Property Weekly||Published: April 27, 2016|
Despite suggestions to the contrary, luxury retail spending is still rising in the UAE, albeit at a slower pace. Dubai, in particular, is leading the way. In a survey carried out before the World Retail Congress last month, Dubai Chamber said the retail sector in the emirate was expected to grow by 5 percent annually until 2017, by which point it was forecast to reach $55bn in value.read more
|Source: Arabian Business||Published: April 30, 2016|
As far as incentives go, ensuring a 10 per cent guaranteed return on investment is no easy task. And more so when it’s being offered over three- and five-year stretches. The details don’t faze Abdullah Bin Sulayem, CEO of Seven Tides, the developer with a portfolio of premium projects on the Palm.read more
|Source: Gulf News||Published: April 21, 2016|
Dubai property prices are close to bottoming out after almost two years of declines, says a top broker. But David Godchaux, the chief executive of Core UAE, an associate of Savills, said that, while a turnaround in Dubai house prices could take place later this year or early in 2017, it is still too early to state that the market is bottoming out.read more
|Source: The National||Published: April 20, 2016|
Dubai Islamic Bank, the largest Islamic bank in the United Arab Emirates, used the recent affordable housing report by Core, UAE associate of Savills, as part of a radio advertisement, which was aired several times every day over a three-week period on the Dubai Eye radio station, to promote their service across all customer segments and industry sectors.read more
|Source: Dubai Eye 103.8||Published: April 20, 2016|
Over the last six months there have been numerous reports that the rental value of properties in Dubai is decreasing. According to one report from Reidin, flat rents fell by 5.4 per cent in February 2016 in compared to a year ago.read more
|Source: Shortlist Dubai||Published: April 20, 2016|
Several owners are tasked with retrofitting rapidly depleting buildings built with poor quality materials. There is currently over 9.5 million sq ft of commercial real estate in the DMCC free zone, offering a broad range of sizes, conditions, locations, ownership structures and...read more
|Source: Khaleej Times||Published: April 20, 2016|
Buy a plot of land. Design a building. To help finance construction, sell units in that building to investors before it is built. Build the building. Repeat.
This is a process familiar to anyone involved in the development of residential buildings.
|Source: Financial Times||Published: April 18, 2016|
Over the next five years Dubai is forecast to report the strongest growth in retail sales among the seven global cities examined by a study.
According to the latest Global Retail Destination Index 2016 from Savills, 88.4 per cent of people in a survey said Dubai has the best...
|Source: Khaleej Times||Published: April 09, 2016|
Dubai: Those 80 million plus visitors who pass through each year certainly made a point — The Dubai Mall ranks higher than London’s Regent Street and New York’s Fifth Avenue in the overall quality of its retail offerings. And, yes, it’s ahead of the Champs-Elysees in Paris, according to...read more
|Source: Gulf News||Published: April 08, 2016|
"Dubai is forecast to report the strongest growth in retail sales over the next five years of the seven global cities examined, potentially challenging London's West End's current global position," the Savills report says.
The Dubai Mall ranks higher than London's Regent Street and New York's Fifth Avenue in the overall quality of its retail offerings.
|Source: Khaleej Times||Published: April 08, 2016|
|Source: Zawya||Published: April 07, 2016|
Despite the good work being done by the Dubai Government to cater to mid- and low-income earners in the emirate, much remains to be done by the private sector in meeting the housing needs of this segment, according to a research paper from Core, UAE associate of Savills.
“The current new supply is catering largely to the middle-income segment and affordable living is yet out of reach for the...
|Source: GNproperty||Published: April 06, 2016|
A decline in office unit sales at the start of the year notwithstanding, analysts believe grade A office spaces continue to perform well on the back of corporate demand.
Dubai’s office market witnessed a drop in sales ranging from 3-17 per cent depending on the location in the first quarter this year...
|Source: GNproperty||Published: April 06, 2016|
Dubai: The cost of renting apartments in Dubai continued to slow down in the first few months of the year, contrary to speculations that the property market is heading towards a turnaround.read more
|Source: Gulf News||Published: April 05, 2016|
Fred Durie, the chief executive of developer Nshama, has said that it is looking to expedite works to complete the centrepiece of its 300-acre Town Square by 2020.
Mr Durie said that it will look to begin work on the first third of the 37,000 square metre central square in the third or fourth quarters...
|Source: The National||Published: March 31, 2016|
CEO David Godchaux talks on Dubai Eye’s Business Breakfast radio show about Dubai’s affordable housing conundrum.
The lack of real affordable housing in Dubai is one of the main reasons why residents in Dubai can’t transition from renting to buying property. That’s according to a new report from real estate firm Core Savills, which found that affordable housing options in Dubai...
|Source: Dubai Eye 103.8||Published: March 31, 2016|
A lack of affordable housing for low and middle income earners is leaving more and more people facing long commutes and a poorer quality of life, according to a major study on housing in Dubai.
A report by Core, the UAE subsidiary of global property consultants Savills, found many residents continue to be priced out of the city.
|Source: 7 Days||Published: March 30, 2016|
So-called "affordable" housing in Dubai is still too expensive for many low-earners, according to a report by real estate firm Core, the UAE associate of Savills.read more
|Source: ME Construction News||Published: March 30, 2016|
The existing affordable housing options in Dubai only cater to the middle-income market and remain overpriced for the lower-income segment in the emirate, a new report has found.read more
|Source: Gulf Business||Published: March 30, 2016|
Few of the homes being built by the private sector in Dubai branded as affordable are actually within reach of lower-income families, according to a new study.
The research paper from Core, the UAE associate of Savills, argues that Dubai Municipality defines affordable housing as living space for...
|Source: The National||Published: March 29, 2016|
Dubai: It’s not only the high cost of land that has Dubai’s developers shy away from going “affordable”.
The lower level of returns can also be a put off for most of them.
|Source: Gulf News||Published: March 29, 2016|
Affordable housing in Dubai is still too expensive for low and middle-income earners, according to a study by real estate consultancy Savills.
The latest research paper from Core (the UAE affiliate of Savills) says the term ‘affordable housing’ is being used in “a very loose sense” in Dubai – despite steps being taken by the government to increase supply of this type of housing.
|Source: Arabian Business||Published: March 29, 2016|
Affordable housing in Dubai is still too expensive for low and middle-income earners, according to research by Core, UAE associate of Savills.
The latest study by the real estate consultancy says the term 'affordable housing' is being used in a very loose sense - despite work by the...
|Source: Construction Week||Published: March 29, 2016|
The cost of accommodating an employee in London is almost double that of Dubai, Sydney, Los Angeles or Chicago, according to Savills latest Live/Work Index.read more
|Source: Emirates 24|7||Published: March 27, 2016|
The UAE’s construction sector encountered unforeseen complications earlier this month as a fortnight-long spell of heavy rains took the Emirates by surprise. Whilst most were fortunate enough to enjoy an unexpected spate of cool weather, certain segments of the community – most notably its construction sector – were left hoping for sunshine.read more
|Source: Construction Week||Published: March 27, 2016|
Private investors are missing out by not creating new stock for rental opportunities.
News that the Dubai Government is preparing to construct a new ‘Wholesale City’ next to Dubai South and Jebel Ali Free Zone...
|Source: Gulf News||Published: March 23, 2016|
A one-bedroom apartment in Dubai Marina was the most sought-after property type for sale in 2015, with over six million searches, according to data provided by dubizzle.read more
|Source: Khaleej Times||Published: March 23, 2016|
The Dubai Multi Commodities Centre (DMCC) achieved 8% year-on-year growth in amount of space transacted during the first quarter of this year. In conjunction with Core, UAE associate of Savills, the free zone succeeded in leasing almost 18,000 sqm (192,000 sqft) of office space to 146 companies during the course of 2015.read more
|Source: Construction Week, Xtra Dubai Magazine||Published: March 20, 2016|
It is not just likely to happen in the residential housing market in Dubai, but commercial space owners are also contemplating offering freebies to ensure occupancy.read more
|Source: Emirates 24|7||Published: March 20, 2016|
Land plots at Emirates Hills have seen a ten-fold increase in values since they were first released on to the market.
If you’re a buyer looking to invest up to Dh40 million in an Emirates Hills villa, you’ll no doubt do some research into the area. You may even have searched the internet and found a recent article in The National that pointed to a steep decline in values at the cheaper end of the...
|Source: The National||Published: March 17, 2016|
The last two quarters of 2016 should see higher demand in the Dubai real estate market, says Ranjeet Chavan, director of SPF Realty, a property brokerage firm.read more
|Source: Khaleej Times||Published: March 16, 2016|
Abu Dhabi's move to amend building and infrastructure regulations in response to severe storm damage last week underscores the maturing of the industry, but may have cost implications for the sector, analysts said.read more
|Source: Zawya, Construction Week, The Big 5 Hub||Published: March 14, 2016|
In 2015, Iran was Dubai’s fourth largest expat nation by overall investment size and the first by average investment size, according to statistics released by the Dubai Land Department (DLD).
The country is likely to further increase its interest in Dubai’s real estate market in 2016/17, according to research conducted...
|Source: Construction Week||Published: March 13, 2016|
Business Bay is expected to be the focus for more commercial space this year, according to new research.
Dubai's supply of office space is predicted to grow by 7 percent this year, with the Business Bay area set to be the focus for growth, according to a real estate research report released on Sunday.
|Source: Zawya||Published: March 13, 2016|
Office supply in Dubai will grow by 7% in 2016, according to research conducted by Core, UAE associate of Savills.
The Dubai Office Market Q1 2016 report revealed that much of this growth is likely to occur in Dubai’s Business Bay area.
“The growth in [office] supply is likely to be most significant in Business Bay over the next few years as the area seeks to...
|Source: Construction Week||Published: March 13, 2016|
Office supply in Dubai will grow by 7 percent in 2016, with most of the growth taking place in Business Bay, according to new research.
Core Savills’ first quarter 2016 Dubai Office Market report stated: “The development pipeline in Dubai indicates a further 7 per cent prime and secondary sector supply growth in 2016.
|Source: Arabian Business||Published: March 13, 2016|
Dubai: For those looking for a bargain on their office rentals, they will do good heading for Business Bay.
Apart from newer supply coming through, and which should help keep demands subdued, Business Bay is also seeing a “two-tier”...
|Source: Gulf News||Published: March 13, 2016|
Property developers in Dubai will complete another 460,000 square metres of office towers this year, putting more pressure on rents and potentially giving relief to businesses affected by tougher economic conditions.
The glut of new stock equates to 7 per cent of the city’s total 6.61 million square metres of primary and secondary office stock, says a...
|Source: The National||Published: March 12, 2016|
Interest from Iran in Dubai’s real estate sector is expected to increase, according to a recent research note from Core, UAE associate of Savills.
After sanctions were lifted at the start of the year, and following elections in the country last month, experts are predicting a growing...
|Source: Xtra Dubai Magazine - Press Release||Published: March 09, 2016|
Core, UAE associate of Savills, enjoyed a dream debut in the UAE Corporate Touch 6s – by lifting the trophy! The ten-strong squad won the Men's Grade Cup, defeating a team from Hill International in the final of the competition at Jebel...read more
|Source: Core, UAE Associate of Savills - Press Release||Published: March 06, 2016|
Dubai: Playing to its strengths, Dubai is creating another mega free zone cluster with the launch of Wholesale City, taking up 550 million square feet in and around Dubai South (with its Al Maktoum International Airport) and Jebel Ali port.read more
|Source: Gulf News||Published: March 01, 2016|
Dubai's residential market will see further price and rental drops into 2017, according to research by Core, the United Arab Emirates associate of Savills. The property services firm's Q1 2016 Residential report revealed that prices and rentals dropped in 2015 and are expected to soften further throughout the next 12 months.read more
|Source: Gulf Business||Published: March 01, 2016|
Dubai residential property rents and sale prices are forecast to continue declining this year and next, although there is a “bullish mid-term forecast”, according to Core Savills.read more
|Source: MEConstructionNews.com||Published: March 01, 2016|
Dubai has been rated as the most 'affordable' city to purchase a home in, as compared to other major international hubs across the globe, according to Savills World Research. The conclusion is based on a comparison of the emirate with London, New York, Hong Kong, Paris, Mumbai, Singapore and Sydney.read more
|Source: Emirates 24|7||Published: March 01, 2016|
CEO David Godchaux talks to CNBC Arabia about the latest Residential report and the outlook for the remainder of 2016.
Downward pressure is counter-balanced by high yields and a growing pool of occupiers and investors looking at the best time to re-enter the market.
|Source: CNBC Arabia||Published: February 29, 2016|
The downturn in Dubai’s property market will continue throughout the course of this year, pushed by worsening investor sentiment, a local property consultancy has warned. Research from Core Savills said that falling oil prices, a strong pipeline of new homes, the dirham’s peg to the strong US dollar and regional uncertainty were all contributors to recent declines...read more
|Source: Arabian Business||Published: February 29, 2016|
Sales and rental prices within Dubai’s residential sector will continue to soften in 2016 and 2017, but stabilising factors will support a more bullish mid-term outlook. These are the findings of the latest research conducted by Core, UAE associate of Savills. Core UAE’s Q1 2016 residential report shows that prices and rentals fell last year, and...read more
|Source: Construction Week||Published: February 29, 2016|
Although there is no such thing as a surefire winner when it comes to investments, owning a house in prime central London has been about as close to it as it gets over the past five years. According to Knight Frank, property prices rose by an average of 8.5 per cent during the five years to January 2015.read more
|Source: The National||Published: February 28, 2016|
Dubai: Rents for apartments in Dubai’s freehold clusters have remained resilient all through the current downturn compared to their villa counterparts, which have seen declines of 3-12 per cent since Q1-15.read more
|Source: Gulf News, Zawya||Published: February 28, 2016|
Dubai: Dubai's developers are certainly not letting the soft market conditions get in the way of planned launches. The Dubai Properties Group has announced an 8.2 million square feet master-development in Dubailand, which is to be...read more
|Source: Gulf News||Published: February 21, 2016|
Damac's Dh1.2 billion purchase of a prime area of land overlooking Dubai's still under-construction canal is just the first of what is likely to be a string of deals, with developers looking for ever-popular waterfront sites, according to property experts. Damac announced that it had bought a 4 million square feet patch of land next to Dubai Canal "on the eastern...read more
|Source: The National||Published: February 18, 2016|
I’ve been living in the UAE since 2013, and despite the myriad plus-points that have convinced me to call this country my home, there remain a number of factors that – on occasion – make me long to return to my old life in the...read more
|Source: Construction Week||Published: February 14, 2016|
The outlook for both the logistics and industrial sectors in Dubai during 2016 looks likely to continue to be steady, according to Core UAE - associate of Savills. The Dubai Industrial Market Q1 2016 report highlights the strength of both industries, despite increasing economic uncertainty and falling oil prices. The report states: "Unparalleled connectivity, stable...read more
|Source: Construction Week||Published: February 14, 2016|
Demand for industrial property in Dubai has held up over the past year despite falling oil prices and uncertain economic conditions, according to new research. Consultancy Core Savills' first-quarter 2016 industrial market update shows industrial rents "were broadly stable" across many established industrial areas of Dubai, while newer areas such as...read more
|Source: Arabian Business||Published: February 14, 2016|
Dubai: Investors and developers will do well to follow Boeing’s lead in Dubai. Or even Ikea’s for that matter. The aircraft manufacturer and the Swedish DIY (do it yourself) retailer last year confirmed major commitments at Dubai South's...read more
|Source: Gulf News||Published: February 13, 2016|
Demand for industrial property in Dubai is holding up despite the slump in both residential and commercial markets. A new report by the consultancy Core Savills found that industrial rents "were broadly stable" across most of the established industrial areas in the city throughout last year, while some of the newer parks such as Dubai South, Dubai Investment...read more
|Source: The National||Published: February 13, 2016|
Dubai's real estate market has the capacity to accommodate additional megaprojects, according to David Godchaux, CEO of Core UAE, an associate of UK-based Savills. However, Godchaux warns that it will be important for the Emirate to strike the right balance between legacy developments and 'livable' projects.read more
|Source: Construction Week||Published: February 09, 2016|
A number of agencies in Dubai are marketing properties as “distress sales” in Dubai in a bid to drum up interest in what remains a sluggish market. Last week, The National received an email blast from the Dubai-based agency Homes4-Life marketing a town house in phase 2 of Dubai Properties’ Mudon project.read more
|Source: The National||Published: January 09, 2016|
Having weathered double-digit rental hikes, tenants in Dubai felt relief when rents appeared to have stabilised in the past quarter. For investors, the promise of high rental yields of about 6 per cent has not impacted the market enough to prevent a general slowdown.read more
|Source: GN Property||Published: December 09, 2015|
The Kanoo Group, a diversified business conglomerate operating across the GCC, has partnered with property services firm Core Savills to launch its villa project in Jumeriah area of Dubai, UAE. Available to lease from this month, the Kanoo...read more
|Source: Gulf Digital News Online, Arabian Business, Gulf Business, Reidin.com, Construction Week, Dubai.com, Dubainews.net||Published: November 30, 2015|
Experts in the real estate market are predicting apartment and villas prices in Dubai will stabilise during 2016 and return to growth later in the year or in 2017. According to research by real estate firm Core Savills people have reason to be optimistic about the outlook for the Dubai real estate market, despite a few blips in 2015.read more
|Source: PropertyTrader.ae||Published: November 27, 2015|
The conference at the annual IREIS (International Real Estate & Investment Show) at the ADNEC centre in Abu Dhabi is typically stacked with high calibre speakers and thus gives investors a unique opportunity to gain valuable insights into property markets, both international, regional, and local. Tor Svensson from CFI.co was there as a rapporteur.read more
|Source: cfi.co (Capital Finance International)||Published: October 30, 2015|
The seventh edition of the International Real Estate and Investment Show, or IREIS 2015, currently underway at the Abu Dhabi National Exhibition Centre, hosted an international conference to highlight key global and regional real estate market trends by convening panelists and experts from leading real estate firms across the region.read more
|Source: Khaleej Times, Yahoo Maktoob News, Bloomberg||Published: October 30, 2015|
The USA and the UAE are ranked number one and number two, respectively, in the world for their residential real estate investment potential according to the World Residential Investability Rankings. These rankings were developed by Savills, international real estate developer, and are based off of key economic characteristics and variables, such as...read more
|Source: Ambassador Yousef Al Otaiba's Blog||Published: October 28, 2015|
There has been great interest in the ‘Turkish Housing Industry Meets Investors from the Gulf Region’ event being organized by KONUTDER (Housing Developers and Investors Association) between 12-14 October. So far the participation of around 35 companies from Saudi Arabia, Dubai, Qatar and Kuwait have been confirmed, and it is aimed that 50 companies...read more
|Source: Real Estate News Turkey||Published: October 14, 2015|
In an interview with Dubai Eye 103.8, Core UAE associate of Savills CEO, David Godchaux commented on residential price and rental levels in Dubai, while prices have seen more significant softening over the past 12 months. Godchaux remains overall bullish for the next five years. He also explains different reasons why rental levels have not seen the same decline.read more
|Source: Dubai Eye 103.8||Published: October 13, 2015|
Dubai may need to alter its zonal development strategy in order to attract more global tech occupiers, according to a new report by international real estate advisor Savills. The firm said that while 2012 to 2014 saw a boom in Dubai office supply delivery, a year-on-year increase in available space was recorded at 13 percent in 2014, mainly among out-of-town business zones.read more
|Source: CNBC Arabia||Published: October 12, 2015|
Core Savills Company forecasts a drop in housing unit prices in Dubai during the coming months, under pressure of a decline in demand in some areas.read more
|Source: Emarat Al Youm via AMEInfo.com||Published: October 12, 2015|
The firm said that while 2012 to 2014 saw a boom in Dubai office supply delivery, a year-on-year increase in available...read more
|Source: ConstructionWeekOnline.com||Published: October 11, 2015|
Dubai may need to alter its zonal development strategy in order to attract more global tech occupiers, according to a new report by international real estate advisor Savills. The firm said that while 2012 to 2014 saw a boom in Dubai office supply delivery, a year-on-year increase in available space was recorded at 13 percent in 2014, mainly among out-of-town...read more
|Source: Arabian Business||Published: October 10, 2015|
The firm states that whist 2012 to 2014 saw a boom in Dubai office supply delivery, a year-on-year increase in...read more
|Source: Zawya.com||Published: October 07, 2015|
Dubai’s string of glass-fronted, out-of-town business parks is becoming too outdated for the digital age, a new report from the property broker Savills warns. If it wants to attract the next big global economic driving force – a new generation of global technology companies – the city needs to change the way that it zones its property developments and...read more
|Source: The National||Published: October 07, 2015|
Properties close to transportation networks attract more tenants and homebuyers. Consequently, transport hubs add a premium on the values of nearby homes and communities. However, while access to motorised transport is an advantage, providing easy access to non-motorised modes of transport and pedestrian- friendly walkways is an...read more
|Source: Gulf News||Published: September 30, 2015|
When the bubble burst in Dubai, it did so in spectacular fashion with property prices halving between 2008 and 2009. Now, once again, the prices of homes on the sands of the emirate are shifting downwards.read more
|Source: The Times||Published: September 25, 2015|
After all the euphoria of Cityscape Global 2015, it's back to business now for the real estate industry.read more
|Source: Khaleej Times||Published: September 16, 2015|
One of the most interesting aspects of this evolution in investment preferences of a new generation of Arabic buyers, is that we are witnessing a growing interest from them to come back and buy properties at home that offer the kind of lifestyle...read more
|Source: Gulf News||Published: September 10, 2015|
The current weak spell in the UAE’s residential property market may be just the ideal moment for investors to come back in.read more
|Source: Gulf News, ArabianBusiness.com, Yahoo Maktoob News, Zawya.com, Khaleej Times, Bloomberg, Arabian Gazette, Dubai Chronicle, Realty Today, Taktical Realty||Published: September 08, 2015|
DUBAI: The United States of America (USA), the United Arab Emirates (UAE) and Singapore have been ranked respectively as the top the countries for residential investability on the basis of economic growth and market recovery, according to a report published by international...read more
|Source: The Gulf Today||Published: September 08, 2015|
The UAE has the best property investment prospects outside the United States, according to a new report from Savills. The findings came after a raft of other data showing further weakening in the housing market.read more
|Source: The National||Published: September 09, 2015|
Residential rents are continuing to rise in many areas of Dubai, despite the ongoing drop in house prices, new research reveals. Data compiled exclusively for Arabian Business by estate agency Better Homes suggests there is little correlation between rental rates and house prices. As the graph below illustrates, average house prices started to soften in the second quarter of 2014, yet average rents have risen steadily since the...read more
|Source: Arabian Business||Published: September 08, 2015|
Subsequent to the financial crisis and the real estate slump in 2008 and 2009, residential and commercial property markets across the globe have been bouncing back over the last five years. Gulf investors have been using this opportunity to increase their exposure to overseas property markets. Most of this overseas investment is being channelled in to European locations — in particular, London...read more
|Source: Gulf News||Published: September 08, 2015|
With GDP growth uncertain, stocks dancing about the charts and gold obstinately refusing to shine, real estate has emerged as a strong investment choice. Half of all ultra-high-net-worth individuals in the UAE are thinking of buying property this year, according to...read more
|Source: Gulf News||Published: September 07, 2015|
A report published on Monday by international real estate advisor Savills has ranked the United States of America (USA), the United Arab Emirates (UAE) and Singapore respectively as the top three countries for residential investability on the basis of economic growth and...read more
|Source: The Gulf Time||Published: September 07, 2015|
The real estate market in Dubai offers an average yield of 7 per cent, about 2-3 per cent above the average yield in international property markets, especially when compared to the modest yields that mature markets like London, Paris or New York offer.
Traditionally, investors have been attracted by the possibility of high returns from properties in Dubai, in addition to the absence of...
|Source: Gulf Property||Published: August 27, 2015|
More Dubai real estate agencies are expected to merge or close down before the end of the year as intense competition puts pressure on margins, industry members have told Arabian Business.
The slowdown in sales volumes as the market stabilises has caused margins to decline by as much as half, as brokers...
|Source: ArabianBusiness.com||Published: 26 August 2015|
Dubai World Central’s decision to rebrand the 145 square kilometre city based around the new Al Maktoum International Airport to “Dubai South” should help the city to establish itself as a residential community, according to business chiefs.
The “Dubai South” name “will become instantly recognisable for years to come”, said Sheikh Ahmed bin Saeed Al Maktoum...
|Source: The National||Published: August 20, 2015|
With most market researches hinting at a drop in prices of properties in Dubai, is it the right time to invest? Or, should one tread cautiously? Is it the right time to sell, or should you ask your tenant for a rent hike? According to the latest property market update prepared by Core, UAE associate of Savills based on the first six months of the year, property prices will witness a decline. It will stabilise in earlyread more
|Source: GN properties||Published: August 02, 2015|
Declining apartment and villa prices in Dubai will stabilise during 2016 and return to growth later in the year or in 2017, a leading realty company said. According to Core, UAE associate of Savills, recent data suggests that Dubai’s real estate market peaked in...read more
|Source: ArabianBusiness.com, Al Bayan; Al Khaleej; Al Ittihad; Al Watan; ma7room.com; al-iqtisad.net||Published: July 27,2015|
A recent survey by Core, UAE associate of Savills shows that Dubai's housing market should increase in 2016-17, as it peaked in 2014 at higher levels than those in 2008 and had levelled out with an average of 1.2% a month for flats and 0.7% for larger homes.
Growth is expected to rise in time for Expo 2020 and the current small drop in price is a sign of a healthy market.
|Source: mydubaimycity.com||Published: July 12,2015|
Firm expects market to return to growth in 2016-2017 as Dubai gears up to host EXPO 2020 - says price declines will be temporary
Research shows market peaked in Oct. 2014, at levels higher than 2008 boom
Prices in office sector to remain stable - with steady growth opportunities
|Source: thearabianpost.com; Zawya.com||Published: July 11,2015|
Dubai rent prices have dipped by a marginal 0.3 per cent a month in the first-half of the year, after seeing double-digit increases over the last three years, says report.read more
|Source: Thebig5hub.com||Published: July 09,2015|
DUBAI: Core, UAE associate of Savills, the largest commercial lease transaction and one of the leading international real estate companies in the UAE, is optimistic on the outlook for the Dubai real estate market.
Research released on Wednesday by the firm has suggested declining apartment and villas prices in the emirate.
|Source: Gulftoday.ae||Published: July 09,2015|
Dubai: Declining apartment and villa prices in Dubai will stabilise during 2016 and return to growth later in the year or in 2017, a leading realty company said.read more
|Source: Khaleej Times; Yahoo Maktoob; ArabianBusiness.com||Published: July 09,2015|
Dubai: After steep double-digit increases in each of the last three years, average apartment rents in Dubai may have dipped - but only by a marginal 0.3 per cent a month in the first-half of the year.
This contrasts quite markedly with the rental gains of 17 per cent, 26 per cent and 15 per cent annually during 2012-14, according..
|Source: Zawya.com; Yahoo Maktoob; Gulf News||Published: July 08,2015|
Investors who bought into Dubai's residential property market after the property crash and who are looking for an exit should consider doing so now, according to Core, UAE associate of Savills' chief executive, David Godchaux.
Its latest report states that average prices for apartments and villas reached their highest point in the third quarter of...
|Source: The National||Published: July 08,2015|
Commercial property owners in the Business Bay area of Dubai should brace themselves for a fall in the value of their properties after a bull market in recent years, according to Core, UAE associate of Savills.
Property prices and rents in the area have rebounded over the past three years, gaining from its proximity to the...
|Source: The National||Published: July 08,2015|
Apartment rents in Dubai are expected to see a steady decline of 3 to 4 per cent this year while villa rents are set to fall marginally by 1 to 2 per cent, according to a new report by real estate firm Core, UAE associate of Savills.read more
|Source: Gulfbusiness.com; Ahlanlive.com||Published: July 08,2015|
Dubai: Apart from a chance to pick up cheap assets that could have long term - very long term - upside possibilities, there could be other reasons why Greece realty holds value for overseas investors.
"If you want to retire or have a long term (plan) in place to stay in Greece, the coming period could offer a good..
|Source: Gulf News||Published: July 04,2015|
A well-thought-out urban design policy is in effect to residential neighbourhoods where community malls are springing up. Last year's results show that the return on investment of these community mall developments more attractive and positively affecting property values.read more
|Source: Property Weekly||Published: June 17, 2015|
Dubai: Some UAE and Gulf travellers are drawing up plans for short visits to Greece this summer, but not necessarily to catch the scenery or the sun. Instead, they will be on the lookout to pick up choice real estate assets on the cheap.
Valuations on Greek realty are down to "10 cents to the dollar" from their 2007 peaks as the country sinks further into
|Source: Gulf News||Published: July 04,2015|
With several new industrial clusters coming up, fresh stock in the market and the slide in petrol prices, the commercial real estate market in Dubai is expected to witness changes. David Godchaux, CEO of Core, UAE associate of Savills, shares his opinion on the trends in the office market and industrial rentals.read more
|Source: Gulf News||Published: May 2, 2015|
David Godchaux is chief executive of the real estate provider Core, UAE associate of Savills, a tie-up between the UK-based Savills and Dubai’s Core Real Estate. Mr Godchaux, 35, from France, can speak several European languages – from English and French to German, Portuguese, Russian and Spanish. Before his current positionread more
|Source: The National||Published: April 23, 2015|
A growing population, proactive government legislation, sustained investment in new developments and a forward-thinking urban planning authority are some of the important factors that are putting Abu Dhabi's property market on the right track for growth. Demand for residential property, in particular, is expected to rise, overcoming an anticipatedread more
|Source: Property Weekly & GN properties||Published: April 22,2015|
Sales and rental property prices in Abu Dhabi have decreased or remained constant compared with previous months but have registered healthy growth year-on-year, according to latest statistics. But experts believe growth can be subdued this year, although the emirate is on course to perform better overall compared with other emirates.read more
|Source: GN properties||Published: March 25,2015|
The UK-based high-end estate agent Savills has announced a series of new partnerships in Dubai and the wider Gulf region, as luxury property prices in some parts of London show signs of cooling...read more
|Source: The National||Published: September 15, 2014|