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      Michael Fahy

      Michael Fahy

      Location

      Articles

      The Dubai Land Department said that the value of real estate transactions registered in the city increased by 8 per cent in 2015 to Dh267 billion. Sarah Dea / The National
      Has the fall in Dubai property prices come to an end?

      Valustrat research manager Haider Tuaima said that the pace of decline in its house price index had started to slow early in 2015, and for the past few months the change in values registered had been negligible, indicating 'a plateau in prices'.

      PropertyJanuary 09, 2016
      A 3,808 Type A unit – an end terrace with a side and back garden – at Dubai Properties’ Mudon project was being marketed as a distress sale, with Dh300,000 knocked off an original price of Dh3 million. Satish Kumar / The National
      Property agents bait Dubai homebuyers with ‘distress’ deals

      Robert Richards of Driven Properties said that there had been an increased in distressed properties coming on to the market over the past six to 12 months.

      PropertyJanuary 09, 2016
      The Sky Tower penthouse on Reem Island. Courtesy Crompton Partners
      Reach for the sky at Dh16m Reem Island penthouse

      This Dh16 million six bedroom, eight bathroom penthouse within Aldar Properties' Shams Abu Dhabi development offers one of the best views over the city money can buy.

      BusinessJanuary 07, 2016
      While material prices might be higher, labour costs in Dubai are ‘60 per cent or less’ than in London. Sarah Dea / The National
      Dubai still a relatively cheap place to build, says Arcadis

      The company’s latest International Construction Costs 2016 report states that Dubai remains a relatively cheap place to build.

      PropertyJanuary 06, 2016
      The impact of The Address Downtown fire on the market for building premiums will not be significant, industry players say. Marwan Naamani / AFP
      Insurance premiums in focus after The Address Downtown Dubai fire

      The impact on Emaar’s own premiums might not be significant as the company owns thousands of buildings.

      PropertyJanuary 05, 2016
      Riyadh-based construction and property group Abdul Rahman Saad Al-Rashid & Sons is to build a residential apartment block known as Mada Residences in Downtown Dubai containing 193 one-, two-, three- and four-bedroom units.Courtesy Abdul Rahman Saad Al-Rashid & Sons
      Riyadh property group launches Mada Residences project in Dubai

      The Dubai project is being undertaken by Artar Real Estate Development – a division set up in 2014.

      PropertyJanuary 04, 2016
      Saudi Arabia announced that transport and infrastructure spending in 2016 will be cut by 63 per cent. Fayez Nureldine / AFP
      GE wins $1 billion Saudi power plant contract

      The 1,350MW plant will be used to power the new $7.5 billion phosphate mining complex at Waad Al Shamal in northern Saudi Arabia.

      BusinessJanuary 03, 2016
      UAE construction year in review: difficult period amid oil slump
      Camera5
      UAE construction year in review: difficult period amid oil slump
      PropertyDecember 21, 2015
      Gaurav Aidasani says he believes a good business steers clear of debt. Sarah Dea / The National
      Money & Me: Dubai-based Cosmos Group chief happy to take a risk

      Angel investor Gaurav Aidasani describes himself as a risk taker that will happily raid his savings account for the right 'disruptive idea'.

      BusinessDecember 18, 2015
      A scale model of the Alef Residences. Sarah Dea /The National 
      New luxury Palm Jumeirah properties with wadi-inspired design

      A new development on Palm Jumeirah is offering buyers the longest private residential beachfront in Dubai with apartment prices starting at Dh12 million and going up to Dh50m.

      BusinessDecember 10, 2015
      There are only a handful of major Saudi contractors capable of carrying out the kingdom’s megaprojects and the government is setting up a system to monitor their progress. Fayez Nureldine / AFP
      Saudi Arabia’s new approach to avoid construction overruns and delays

      Developers of megaprojects in the kingdom have experienced cost and schedule overruns in recent years. A new law, however, aims to provide a countrywide framework for oversight of major building schemes.

      BusinessDecember 09, 2015
      The Hadeel development is due to complete in the first quarter of 2017. Rendering courtesy Aldar
      Aldar’s Hadeel residential project at Al Raha Beach ‘well under way’

      The development is due to complete in the first quarter of 2017 with both apartments and townhouses.

      PropertyDecember 06, 2015
      Simon Hacker, Khalid Ali and Mimoun Assraaoui at the office of Alpha Nero, a Dubai-based business manufacturing retail displays. The Alpha Nero office is based in the International Media Production Zone in Dubai. Anna Nielsen for The National
      SME profile: Dubai shop display firm Alpha Nero finds the right fit

      A strong company culture at Alpha Nero has enabled the shopfitting company to expand its staff quickly. Expo 2020 means exciting times ahead.

      BusinessDecember 05, 2015
      Shailesh Jasani says a financial journey without any mistakes is a myth. Sarah Dea / The National
      Money & Me: Dubai financial controller arrived in UAE with Dh200

      Finance head of a Dubai-based contracting company landed in the UAE with Dh200 in his pocket but now has a diverse portfolio that includes land, property and shares.

      BusinessDecember 04, 2015
      Concerns have been raised over the new Dubai statistics law. Sarah Dea / The National
      Experts warn new Dubai statistics law could affect transparency, property sector

      The new law forbids private companies from 'conducting any survey[s] without obtaining authorisation from the Dubai Statistics Center'.

      BusinessDecember 03, 2015
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