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Dubai Land Department signs an agreement with Mashreq

Under the new agreement, Mashreq will provide banking services for real estate transactions made both inside and outside the country

Sept 18 - ORE Blog

Dubai: The Dubai Land Department (DLD) announced that it has signed an agreement with Mashreq concerning banking solutions for the transaction services of the “Tarweej” real estate promotion initiative. The agreement was signed by Sultan Butti Bin Mejren, Director General of DLD, and Abdul Aziz Al Ghurair, CEO of Mashreq.

Under the new agreement, Mashreq will provide banking services for real estate transactions made both inside and outside the country. In addition, the bank will receive priority as a partner for real estate promotion in accordance with the laws applied in each country, and will provide real estate customers and investors with consultation and information on products to meet their needs.

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Details of World Expo 2020 hub revealed

Ahmad Al Khatib, the man in-charge of delivering the Expo 2020 Dubai site, tells PW what makes Al Wasl Plaza the heart of the spectacular global event

Sept 12 - ORE Blog Expo 2020

Halfway between Abu Dhabi and Dubai, covering an area of 4.38 sq km in Dubai South, is where the most diverse World Expo ever is going to be staged starting in October 2020.

Millions of visitors will see the event unfold and hear the story of human ingenuity. Most importantly, they will witness the UAE’s belief in inclusivity, collaboration, diversity and innovation.

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Nakheel to launch Dh3.2b worth of projects

These are to be announced at the upcoming Cityscape Global event from September 11

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Dubai: Nakheel will be launching six projects with a combined value of Dh3.2 billion at Cityscape Global next week, including one at its flagship Palm Jumeirah. The master-developer’s current portfolio spans 15,000 hectares and Dh50 billion worth of projects.

The new additions will also extend to retail and hospitality, both of which are now integral to the master-developer’s longer term plans to grow its top-line numbers as well as yields.


“At Cityscape, we will demonstrate our pivotal role in realising the Government of Dubai’s vision for 2021, and highlight Dubai’s unrivalled investment opportunities for investors,” said Ali Rashid Lootah, Nakheel’s Chairman. “We continue to deliver and diversify in line with government goals and our own business strategy. And while development remains our core business, we are focussing on growing our hospitality, retail and leasing divisions by creating a range of new hotels, resorts, F&B destinations, malls and tourists attractions across the city.”

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Indians, Pakistanis pour Dh27b into Dubai real estate

UAE nationals pitch in with Dh37b in 18 months from January 2016

Aug 30 - ORE Blog

Dubai: Indian and Pakistani nationals put in a combined Dh27 billion-plus into Dubai property over the last 18 months, with the number of transactions they were involved in totalling 16,000.

Indian buyers continue to make up the largest contingent of overseas buyers, with Dh20 billion.


Saudi investors bought Dh12 billion-plus of property during the same period, while Jordanian and Egyptian citizens pumped in more than Dh4 billion.

But UAE nationals are still the highest spending grouping, with Dh37.4 billion, according to data from the Dubai Land Department.

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Developer gets on with last residential tower plot in JLT

The G+39 storey structure will cost Dh600m and take two years to build

Aug 22 - ORE Blog

The ground plus 39-storey high-rise, named IGO 101 will have an average sale price at Dh1,275 a square foot. The main contractor will be named in December.

Dubai: The “last available plot” in JLT (Jumeirah Lake Towers) for a residential tower is now seeing action on the ground. The developer IGO is building a ground plus 39-storey high-rise, named IGO 101, on it and launching immediate sales, with the average price at Dh1,275 a square foot. Completion of the Dh600 million project (which includes the cost of land) is due in 24 months. The main contractor is to be named in December.

Currently, there are only a handful of new tower projects at JLT, which includes the Burj 2020 from the master-developer DMCC and a mixed-use Taj Hotels-branded one from Signature Developers.

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