Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

UAE realty sector to grow more  Join our daily free Newsletter

MENAFN - Khaleej Times - 15/12/2013
No. of Ratings : 0
Add to Mixx!



(MENAFN - Khaleej Times) The Omniyat Group says that a combination of factors will trigger higher growth for Dubai's real estate industry during 2014, which include the emirate's successful bid to host Expo 2020 and recent real estate legislations.

The company added that the international recognition of the country across different sectors is also providing a major boost to the flourishing real estate sector, the most recent of which was the selection of Dubai as the second-best sports city in the world for 2013.

"Dubai's successful bid for hosting Expo 2020 proved to the world that the emirate in particular and the UAE in general is a leading economic, tourism, construction and commercial hub," said Mahdi Amjad, Omniyat's executive chairman and chief executive officer.

"Dubai, because of its distinguished skyscrapers, ports, hotels, exhibitions and malls, attracts hordes of tourists, investors and visitors from all over the world.It has emerged as a key global player that commands undisputed international recognition and status."

"We felt the impact of the Expo 2020 win on the real estate sector from the first minute the results were announced," he added.

Amjad said that the introduction of mature legislations, such as the regulation of the holiday homes market in Dubai and the implentation of the UAE Central Bank's new mortgage rules as of December 2013, along with the Dubai Land Department's decision to double the transfer fees on property sales, will go a long way in sustaining the growth of the UAE real estate sector and introducing greater transparency.


The industry has widely welcomed these steps as it seeks to protect the rights of all stakeholders, and they are expected to further strengthen the real estate industry in the UAE as well as protect other sectors like banking and mortgage.

Amjad said that a key positive point of the new central bank's mortgage rules is that it differentiates between end-users and investors, urging for further fine-tuning of mortgage rules that target overseas buyers to ease their purchases and regulate them. This would boost demand, thus motivating developers to increase supply.

Amjad said that aside from the Expo 2020 bid success, other recent feathers in Dubai's cap were the awarding of the 7th International Sports Event Management, ranking Dubai as the second best sporting city behind London. The city was ahead of Oakland, Manchester, Dusseldorf, Johannesburg, Istanbul, Sydney and others.

"This global recognition of Dubai's sporting prowess will be a major pillar in the further development of the real estate industry," he said.

 


Khaleej Times




  MENA News Headlines
 May 29 2016 - Turkey- Erdogan slams US 'support' for Syrian Kurdish groupsThe Journal Of Turkish Weekly
(MENAFN - The Journal Of Turkish Weekly) President Recep Tayyip Erdogan condemned on Saturday what he called the United States’ “support” for Syrian Kurdish groups the PYD and YPG. ...

 May 29 2016 - Iraq anti-Daesh operation leaves civilians trappedThe Journal Of Turkish Weekly
(MENAFN - The Journal Of Turkish Weekly) Civilians who have fled Fallujah in recent days said they were exposed to random shelling by the Iraqi air forces as they left the city. Following a harsh ...

 May 29 2016 - 40,000 Syrian families flee Daesh attacks on AleppoThe Journal Of Turkish Weekly
(MENAFN - The Journal Of Turkish Weekly) The Daesh terrorist group’s attacks on Aleppo’s Azaz district have forced 40,000 families to flee their homes, a humanitarian relief official ...

 May 29 2016 - Turkey- UNHCR worried about 165,000 displaced near Syrian townThe Journal Of Turkish Weekly
(MENAFN - The Journal Of Turkish Weekly) The UNHCR on Saturday expressed acute concern about nearly 165,000 displaced persons massing near a town in northern Syria. In a written statement, the UN's ...

 May 29 2016 - Mavi Marmara victims commemorated in TurkeyThe Journal Of Turkish Weekly
(MENAFN - The Journal Of Turkish Weekly) About 200 people gathered Sunday outside Israel’s embassy in Turkey's capital to mark the sixth anniversary of the deadly attack on the Gaza-bound Mavi ...

 May 29 2016 - Artillery, air operations 'kill 40 Daesh' in SyriaThe Journal Of Turkish Weekly
(MENAFN - The Journal Of Turkish Weekly) Turkish military sources on Sunday said a total of 40 Daesh terrorists were killed in northern Syria during an operation by the Turkish Armed Forces and the ...

 May 29 2016 - Hundreds attend funeral of Palestinian killed by IsraelThe Journal Of Turkish Weekly
(MENAFN - The Journal Of Turkish Weekly) Hundreds of Palestinians on Saturday attended the funeral of a youth who was controversially killed by an Israeli soldier two months ago. Large crowds ...

 May 29 2016 - UN: Syrian regime blocked 60 pct of aid convoys in MayThe Journal Of Turkish Weekly
(MENAFN - The Journal Of Turkish Weekly) The Syrian regime has allowed only 14 out of 35 UN aid convoys in May, a senior UN official said. “Deliberate interference and restrictions by the ...

 May 29 2016 - UN: 700 migrants feared dead in Mediterranean shipwrecksSaudi Press Agency
(MENAFN - Saudi Press Agency) POZZALLO, Italy, Sha'ban 22, 1437, May 29, 2016, SPA -- The UN refugee agency said over 700 migrants are feared dead in three Mediterranean Sea shipwrecks south of ...

 May 29 2016 - Saudi- Jordanian monarch dissolves parliament, names new premierSaudi Press Agency
(MENAFN - Saudi Press Agency) Amman, Sha'ban 22, 1437, May 29, 2016, SPA -- Jordanian King Abdullah II dissolved parliament on Sunday, dpa reported. A royal decree, carried by state television, ...

more...


 





Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help