Mark Wallington's Blog: All Categories

A quick glance at the Dubai property headlines of late will reveal a good deal of negativity and warnings of impending property crashes. Recently things have taken a more positive spin, but overall you would think things were pretty gloomy for the Dubai real estate market. But are these sections of the media that are predicting such outcome correct, or is there something else going on in the market at the moment? After all, one day we get headlines of new property developments planned, and news of the market prices continuing to increase only to be told the next day that in fact things are all going wrong! So what is the real story? Well those working in the Dubai freehold real estate market feel the media coverage of late has been misleading, and have now…

Dubai property is still worth big money, even despite all the current financial woe that is going on. With some much negativity surrounding investment and real estate of late, at least there was some good news released at the ‘Urban Waterfronts Conference 08’, which was that the Dubai real estate market has now seen investment pass AED158 billion in 2008! The figure which is formulated using leasing, mortgages and sales figures is up on last years result, which was only a measly AED 151 billion! Cleary investment in Dubai real estate is still on the up for the time being at least, despite all the current goings on in the world. This may seem a little strange, but the Dubai property market has such a global appeal, that even with things as they are, Dubai…

Dubai property society delegates recently sat down to discuss the effect and impact of the new property laws recently introduced in August to the Dubai freehold property market. The laws are aimed at providing some comprehensive legislation to the Dubai real estate market, and now that people have had time to take in the new regulations, the general consensus is that that laws bring something positive to the table. The 3 new laws that have been the main centre of attention are firstly the new law regarding property disputes, the off plan sales law, and the mortgage law. All have generated a good deal of debate among Dubai property agents, but the laws are now starting to be widely understood and accepted.

Known as ‘Law 14’, the new mortgage law aims at…

Dubai has always been said to be a special place, but now Dubai residents can officially declare themselves lucky lucky lucky with the news the pop star Kylie Minogue is set to come to Dubai for the launch of Dubai’s new super expensive, super exclusive hotel, Atlantis. Costing a rather staggering $1500 million to build, the top suite here will set you back around $30,000 a night, which makes good sense when you find out that they are spending $35 million on the launch party, some $6 million of that on fireworks alone! Kylie therefore will just be the icing on the cake for what is billed as the most expensive private party ever! But celebrity endorsement is nothing new to Dubai. In fact of late it seems to have become the standard way to launch a project!…

Oh....qood may not exactly roll off your tongue, but it is causing a stir in the land of Dubai freehold real estate. Oh qood is the Dubai governments new system to help create an online property price index, and it should helpfully further enhance the transparency of the Dubai property markets goings on. If successful, whilst the suggestion it could revolutionize the Dubai freehold property market maybe going a little over the top, it does have the potential to make some large and positive changes to the market place that should greatly befit both developers and customers. After all, for all its breathtaking freehold property and world wide acclaim, Dubai properties are still very much in its infancy, with less than a decade since things here really took…

Dubai is now a well known playground for the rich and famous. Its great weather, plethora of luxury hotels and some outstanding real estate have firmly put in on the radar of those with cash to spend. With the world’s tallest tower, Palm shaped man made Islands out at sea and hotels in the shapes of sails and waves, Dubai certainly has the wow factor. With some of the best shopping in the world, great restaurants and an active nightlife, Dubai properties have plenty of things to keep its residents more than satisfied.

However it is the freehold property here that seem to be attracting those with the most money, or so it seems at the Al Barari development. The new $6.4 billion luxury development located just off Emirates Road at Nad Al Sheba is said to…

The Dubai Waterfront, despite being the largest land reclamation project ever to be attempted, seems have been keeping a relatively low profile for a project of this magnitude. For starters the freehold development when completed will be twice as large as Hong Kong Island! Covering some 1.4 billion square feet, the figures for this development are just staggering! Adding another 70KM to Dubai’s coastline, the island will provide work and homes to an estimated 1.5 million people. With 3.52 million cubic meter of sand being laid down every month, things here are certainly moving quickly. A development of this size is truly groundbreaking, and really will define what is conceived as possible for real estate in Dubai.

But clearly such a development takes a…

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