Oil price recovery to drive UAE projects boom

The UAE’s economic growth is expected to receive a recovery boost on the back of an upturn in oil prices and sustained public and private sector activity ahead of Expo 2020. A recovery in non-oil activity and growing trade with Iran will see a GDP growth rise from 4 to 5 percent a year from 2017 to 2020, compared with about 3.1 percent growth in 2016. It is expected to support an increase in m...

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International City residents welcome inspections on overcrowding

Dubai: Legal tenants, especially residents with families, living in International City have welcomed the inspection campaign to crack down on crowding in the community. Officials from Trakhees, the regulatory agency for freehold properties and businesses in special development zones, continued door-to-door inspections at some of the residential districts of Nakheel’s property on Monday. Th...

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Dubai Holding, Emaar to revive world's longest luxury hotel chain

Bawadi, announced as the largest hospitality and leisure development in the world in 2007, is being revived in Dubai, Dubai Holding Chief Executive Officer told Emirates 24|7. “The Bawadi project, a joint venture between Dubai Holding and Emaar, is currently in its early stages and progress will be communicated in due course,” Fadel Al Ali said. No other details were shared. Launched ...

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Damac to launch phase two of Akoya Imagine, Jumeirah Golf Estates puts new villas on market

Damac Properties has said that phase one of its Akoya Imagine villa scheme in Dubai has sold out, while the launch of the second phase will be on July 30. The villas were designed and priced to attract professionals in the under 35 age group, according to Damac. They have been purchased by buyers of 26 different nationalities. "With the number of mega projects underway in Dubai, such as Expo...

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