The Dubai property market is starting to act like a mature and logical thing, with
prices for apartments rising in areas near the metro stations
, Robert Ditcham and Hugh Naylor report in The National. They call it the "Metro effect". Prices in the buildings across from the
Jumeirah Lake Towers
across from a station have been rising as much as 6.5 per cent higher, according to property brokers. In major cities around the world, one of the biggest selling points is always transportation - the proximity to a subway, buses and of course, restaurants and cafes within walkable distance. This news comes as analysts say that Dubai has
entered a period of "relative stability"
, Parag Deulgaonkar reports in Emirates Business 24/7.
The landscape of the new property scene is coming into focus
with announcements of major consolidations in the last week within Dubai Holding and Dubai World
, The National reports. These moves will make developers more resilient. The Real Estate Regulatory Agency once had 447 property developers in its system. We'll likely see this whittled down to a dozen at most.
Rents for homes in some areas in Abu Dhabi have risen by 20 per cent this month
, Abdul Hai Mohamad reports in Emirates Business 24/7. He says this is happening because of an influx of business, which is increasing the shortage of homes.
An important story from the weekend: Investors in
Hydra Properties
projects are
. These guys aren't giving up. Hydra made some concessions about payment plans, but many investors are still not happy with the wording of the contracts or the progress of construction.
And to warm your heart this morning.
A sick American boy received a four foot tall model of the Burj Dubai
and construction workers are
getting ready for their annual singing contest that includes employees from more than 50 camps
.
