Dubai Weekly Real Estate News - 25/09/22
The new real estate fund regulation in Dubai expands the pool of potential investments. Various privileges will now be afforded to property investment funds in order to attract further investment into Dubai’s already booming real estate market. More information of the new decree below.
 |
Property News This Week |
Dubai’s new decree on real estate funds stretches investment possibilities The number of listed real estate investment trusts (REITs) globally amounted to 865 at the end of 2021 with a combined market cap of approximately $2.5 trillion. By comparison, only two REITs are listed on Nasdaq Dubai: Emirates REIT and ENBD REIT. Apartments, villas continue to drive the Dubai property market The Dubai property market continues to grow, with both the apartment and villa segments recording growth in terms of sales volume and value. August 2022 saw an estimated figure of 6,050 sales transactions of apartments in Dubai with a combined worth of AED 11.7 billion. These figures show an increase of nearly 37 per cent in terms of volume and 33 per cent in terms of value on a month-on-month basis, according to the Zoom Property Insights. New Dubai rule for tenants: What we know so far about registration of co-occupants The housing department has said that residents in the emirate have two weeks to register the individuals they are living with in their properties — whether owned or rented. The Dubai Land Department (DLD) on Friday notified all owners, developers, property management companies and tenants about the registration of their co-occupants in owned and leased properties. The UAE can now enforce UK court rulings, altering Dubai’s ‘safe haven’ status Courts in the United Arab Emirates have been granted the authority to enforce British legal rulings in several categories of cases, in a landmark decree by the UAE’s Ministry of Justice. The change applies to all court rulings for non-criminal civil, financial and marital cases and is already in affect. It represents a significant step-up in cooperation between the UAE and the U.K., longtime partners in trade, diplomacy and defense. How property owners can easily apply for visa in Dubai through the ‘Cube’ The centre, which was established in 2017, facilitates several services for real estate investors, including the visa application process – allowing them to complete all the steps needed to apply for the visa, from filling out the initial application form at a registered typing centre to receiving the stamped visa on their passports. |
