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Nakheel awards over Dh430m contracts for Deira Islands

Aug 10 - ORE Blog

Deals are for sewage treatment plant, district cooling plant, substation and piling work for an 800-room resort


Master developer Nakheel has awarded four contracts — collectively worth more than Dh430 million — for Deira Islands, its new, 15.3 square kilometre waterfront city currently under construction in Dubai.

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Dubai real estate records Dh390b transactions in 18 months

Aug 9 - ORE Blog

Off-plan and ready units generate sizeable momentum in total transactions

Dubai: The spike in property handovers and off-plan is telling on Dubai’s transaction numbers — in the 18 months ending July 31, the Land Department recorded Dh86 billion in such transactions, which totalled 63,903.

This was followed by land sales, which generated 24,000 deals and for a combined value of over Dh283 billion.

Buildings fetched volumes of Dh21 billion from 8,000 transactions, data from Land Department show.

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‘Mad Max’ inspired Last Exit to open in Dubai

Aug 8 - ORE Blog - Mad Max E11 - 1

Last Exit Mad X will open on August 10, located on E11

If you can’t get enough (like one does) of the post-apocalyptic barren landscape of Mad Max: Fury Road, then here’s your chance to accelerate towards Dubai’s fourth Last Exit that opens on August 10.

War rigs, monster trucks and abandoned cars will set the scene of utter desolation, creating an ideal backdrop for doomsday trackers to roll out their mats and have a picnic amid this man-made Armageddon called ‘Max X’.

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Real estate leads economic activity in Dubai

Aug 8 - ORE Blog

8,011 operating licenses in the sector, including 680 real estate developers

The real estate sector has grown into a significant component of the economy in Dubai and the number of companies engaged in real estate and related activities in Dubai has now reached 8,011, including more than 680 real estate developers. According to the Business Registration & Licensing (BRL) sector in Dubai Economy, the emirate's real estate sector has expanded substantially since 2001 with a 22.4 per cent growth recorded within the last five years alone.

Real estate brokerage accounts for 43 per cent of the all the activities (5,755) recorded in the sector since 2011 followed by real estate leasing and rental (18 per cent, or 2,373 activities). There have been 1,390 activities relating to sale and purchase of lands and real properties, 1,285 relating to property management and leasing, followed by 740 relating to supervision services, 682 real estate development activities, 585 leasing and real estate management services for third parties, 163 related to real estate consultancy and 106 activities relating to administrative supervision of the owners associations.

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4 UAE malls, projects to watch out for

Aug 7 - ORE Blog News

The ferris wheel off the JBR coast.

4 of UAE's biggest projects that will boost consumer spending

Some of these projects are likely to bring more cheer to Dubai shoppers

Dubai: In a country where shopping is a favourite pastime for residents with high disposable incomes, there is no shortage of malls, shopping centres and boutiques.

Every so often, a new development is being announced, be it a mega shopping complex on a man-made island or a series of retail shops to complement another larger-than-life landmark.

Between  2017 and 2020 alone, at least four mega developments that are currently under construction in the UAE are scheduled for completion, and they are expected to deliver more than 3,000 shops.

The developments include malls, as well as leisure and recreation facilities, that cost as much as $1.8 billion (Dh6.6 billion) to build. And all of these projects have one goal in common: to cash in on the spending power of UAE residents and visitors.

In 2016, shopping malls in Dubai, Abu Dhabi and the rest of the emirates, attracted more visitors than ever, with footfall numbers posting a 5.8 per cent increase, thanks mainly to the huge influx of tourists, shopping promotions and events, and a tax-free regime.

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