Dubai’s real estate market has been reeling from the effects of a slowing economy and oversupply of residential units. Even as the market tries to fight this double-whammy, there’s hope on the horizon.
New committee to streamline Real Estate Development
A Higher Real Estate Planning Committee has been established in Dubai to bring about a right balance between supply and demand, avoid launching similar real estate projects and ensure projects add real value to the national economy.
In a Tenant-friendly Market, Landlords dig in for the Long Haul
A considerable portion of the expat population in Dubai still stays in rented homes. A lot of them, unsurprisingly, are now enjoying what is deemed a tenant-friendly market where rents are softening across different communities.
UAE extends Long-Term Visas to High Earning Executives
The UAE has said foreign executive directors will be eligible for long-term residency permits if they earn a monthly salary of AED 30,000 ($8,200), in a sign the Gulf nation is easing regulations to ensure sustained growth in the economy.