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Property prices fall in Dubai | The housing market in Dubai has shown a steady decline in prices
over the last one year. The prices in the emirate fell by 6.1 per cent over a
12-month period, 3.7 per cent lower in the first quarter of 2015 than the
previous quarter. However, the hospitality market in Dubai registered good
performance.
| The housing market in Dubai has crashed over the last one year. It has
been found in surveys as the worst performing in the global housing market
segment, especially in the first quarter of 2015.
The prices in the emirate fell by 6.1 per cent over a 12-month period,
3.7 per cent lower in the first quarter than the previous quarter.
However, in Q1 2015 the hospitality market in Dubai registered good
performance.
The Knight Frank’s Global House Prices Index has placed the city 53rd
out of 56 locations monitored. It is ranked lower than Greece but higher
than China, Cyprus and Ukraine.
Ukraine, Cyprus and China took the bottom rankings, prices falling by
15.5%, 8.2% and 6.4%, respectively. The conflicts in Ukraine contributed
to the steep fall there. House prices dropped by 15.5 per cent in the last
one year.
Australia and Latin America were reported the top gainers with a rise
of 8.2 per cent and 5.1 per cent, respectively.
Overall, the global house price index recorded its weakest annual
growth for three years, rising by just 0.3%.
- Credit: Phidar Research & Knightfrank
indices June 18, 2015 |
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From the Web |
Dubai to build 400 more AC, non-AC bus shelters with wi-fi |
DUBAI: Dubai will have 400 more air-conditioned and non-air-conditioned bus
shelters in the next two years. The Roads and Transport Authority (RTA) has
awarded the contract for the project to Right Angle Media. There will be wi-fi
facility also. The project will be operated by Right Angle Media, a company that
also operates the existing bus shelters. To be operated on the public-private-
partnership model, the project will bring the total number of bus shelters in Dubai
to 1,295.
| UAE perfect destination for entrepreneurs, innovators: Sheikh Mohammed |
ABU DHABI: Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime
Minister of the UAE and Ruler of Dubai, has said that the UAE is a favourite
destination and a perfect environment for entrepreneurs and innovators from
across the world. "We have great expectations from entrepreneurs because we
believe in their unlimited innovative ideas," Sheikh Mohammed said as he received
a delegation from the United Nation's Global Entrepreneurs Council. The Council
has selected Ohood Al Roumi, Director-General of the Prime Minister Office of the
UAE, as its first Arab member. He said, "We have great confidence in the young
generation."
| Women complain of stalkers in Dubai localities |
DUBAI: Women of New Dubai are feeling unsafe as unidentified men are stalking
them, according to complaints to the police. According to Gulf News, residents of
Jumeirah Village Circle (JVC) have raised concerns on social media about the
stalkers, claiming they have been followed them while walking their dogs or
running errands. It has also been brought to public that the stalkers follow women
by driving slowly behind them in their tinted SUVs. | ISAF Sailing World Cup final in Abu Dhabi from Oct 27 |
ABU DHABI: The ISAF Sailing World Cup is being organised in Abu Dhabi for the
championship’s final. Ten Olympic sailing categories will compete with an open
kiteboarding event joining the programme. Held from October 27 to November 1,
2015 the event begins at 11.30 am, at Breakwater, between the Corniche and Lulu
Island, Abu Dhabi. Watch the racing is free. The base for the fleet is at the Abu
Dhabi Sailing and Yacht Club opposite Marina Mall. It’s a great place to watch the
regatta from as you’ll be in the thick of the action. You can also watch the regatta
from anywhere along the Corniche.
| Ashura day to be observed on Saturday |
ABU DHABI: The fatwa issued by the Islamic affairs authority cited a number of
Hadith about fasting on Ashura day. The day of Ashura (Muharram 10) will be
observed on Saturday (October 24) as the new Hijri year, Muharram 1, 1437, began
on Thursday (October 15), according to an edict issued here on Thursday by the
Centre of Fatwa of the General Authority for Islamic Affairs and Awqaf. The fatwa
issued by the Islamic affairs authority cited a number of Hadith about fasting on
Ashura day. "Fasting on the Ashura day is atonement for sins," said the dictum. | |
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