NEWS BRIEF 35 - Asteco - Asteco Property Management ... · PDF fileNEWS BRIEF 35 SUNDAY 28...

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Transcript of NEWS BRIEF 35 - Asteco - Asteco Property Management ... · PDF fileNEWS BRIEF 35 SUNDAY 28...

  • DUBAI | ABU DHABI | AL AIN | SHARJAH | JORDAN

    Asteco Property Management, 2016 asteco.com | astecoreports.com IN THE MIDDLE EAST FOR 30 YEARS

    ASSET MANAGEMENT SALES LEASING

    VALUATION & ADVISORY SALES MANAGEMENT OWNER ASSOCIATION

    RESEARCH DEPARTMENT

    NEWS BRIEF 35 SUNDAY 28 AUGUST 2016

  • DUBAI | ABU DHABI | AL AIN | SHARJAH | JORDAN

    Asteco Property Management, 2016 asteco.com | astecoreports.com

    IN THE MIDDLE EAST FOR 30 YEARS

    Page 2

    ASSET MANAGEMENT SALES LEASING

    VALUATION & ADVISORY SALES MANAGEMENT OWNER ASSOCIATION

    REAL ESTATE NEWS UAE

    GULF INVESTORS MAINTAIN INTEREST IN TURKISH PROPERTY DESPITE TURMOIL

    UAE CLADDING FIRMS INVEST IN UPGRADES TO PRODUCE MORE FIRE-RESISTANT

    PANELS

    THE FIVE IMPORTANT THINGS IN BUSINESS RIGHT NOW

    DUBAI

    SME PROFILE: BUILDING ENGINEERS FIND THEIR NICHE IN DUBAI

    MURRAY & ROBERTS GROUP TO CLOSE ITS CONSTRUCTION FIRM

    REGIONS WEALTHY TO CONTINUE DIVERSIFICATION INTO OVERSEAS PROPERTY

    HLG CHIEF RELEASED FROM CUSTODY AS HABTOOR EXITS JOINT VENTURE

    DUBAIS DRAKE & SCULL SAYS IT HAS NOT HIRED ADVISER TO SEEK INVESTMENT

    ORASCOM SECOND-QUARTER PROFIT SLIDES

    SCAM ALERT: UAE WARNS RESIDENTS AGAINST FRAUD PROPERTY ADS

    DUBAI MUNICIPALITY SUPERVISES 25,000 BUILDINGS UNDER CONSTRUCTION

    REVEALED: TOP 5 LOCALITIES TO RENT AND BUY A HOUSE IN DUBAI

    HABTOOR LEIGHTON GROUP CHIEF EXECUTIVE ARRESTED IN DUBAI

    WOULD YOU PAY DH107 MILLION FOR THIS MINIMALIST PROPERTY

    MASTERPIECE? IN PICTURES

    NEW MALL AT WORLD TRADE CENTER OPENS FOR MANHATTAN SHOPPERS

    DUBAI WATER CANAL, JEWEL OF THE CREEK AND OTHER INFRASTRUCTURE

    PROJECTS A BOON FOR CONTRACTORS

    IMMINENT RISE IN DUBAI HOUSE PRICES AS CONDITIONS IMPROVE, NEW REPORT

    SAYS

    DUBAI DEVELOPER NAKHEEL BRINGS AN END TO DEBT RESTRUCTURING SAGA

    WITH DH4.4BN PAYMENT

    HANDOVER OF DUBAI PROJECTS DELAYED AS AUTHORITIES GET TOUGH ON FIRE

    SAFETY

    FIRST LOOK INSIDE DUBAI OPERA AHEAD OF GRAND OPENING

    DUBAIS DAMAC AWARDS DH967M CONTRACT TO BUILD AYKON LONDON ONE

  • DUBAI | ABU DHABI | AL AIN | SHARJAH | JORDAN

    Asteco Property Management, 2016 asteco.com | astecoreports.com

    IN THE MIDDLE EAST FOR 30 YEARS

    Page 3

    ASSET MANAGEMENT SALES LEASING

    VALUATION & ADVISORY SALES MANAGEMENT OWNER ASSOCIATION

    REAL ESTATE NEWS TOWER

    BROOKFIELD AND DIFC AGREE ON ARBITRATION OVER ALLEGED GATE BUILDING

    DEFECTS

    DRAKE & SCULL INTERNATIONAL SHARES FALL SHARPLY IN DUBAI AS IT REVIEWS

    BUSINESS ACTIVITIES

    ABU DHABI

    DH2.9 BILLION GRANT TO KICK-START BUILDING OF BAHRAINS NORTH CITY

    LOW OIL PRICES CONTINUE TO BITE INTO ABU DHABI HOUSING RENTS

    GCC/INTERNATIONAL

    LONDONS BBC TELEVISION CENTRE TO BE PITCHED TO DUBAI PROPERTY BUYERS

    QATAR INVESTMENT AUTHORITY BUYS 9.9 PER CENT STAKE IN EMPIRE

    STATE BUILDING OWNER

    TIMING IS CRUCIAL WHEN IT COMES TO LONDON PROPERTY

    CHINAS INVESTMENT IN $10.7BN CITY IN OMAN TO PROVIDE BUILDING BOOST

    BRITAINS MEDAL HAUL AT THE RIO GAMES ECLIPSES BREXIT AND HOUSE

    PRICE WOES

    NEW YORK TOPPLES LONDON FROM PROPERTY PINNACLE AS BREXIT DETERS

    FOREIGN INVESTORS

  • DUBAI | ABU DHABI | AL AIN | SHARJAH | JORDAN

    Asteco Property Management, 2016 asteco.com | astecoreports.com

    IN THE MIDDLE EAST FOR 30 YEARS

    Page 4

    ASSET MANAGEMENT SALES LEASING

    VALUATION & ADVISORY SALES MANAGEMENT OWNER ASSOCIATION

    SCAM ALERT: UAE WARNS RESIDENTS

    AGAINST FRAUD PROPERTY ADS

    Saturday, 27 August, 2016

    The UAE Ministry of Interior has alerted residents and citizens of scam operations through fake companies

    promoting the sale of real estate abroad through advertisements in the media, according to a report in Arabic

    daily Emarat Al Youm.

    The Ministry called on people to exercise caution when making an investment in order to not become a victim of

    any scam.

    The case emerged when residents and citizens told Emarat Al Youm of the proliferation of advertisements in local

    online journals promoted the sale of real estate and land in some Arab and European countries.

    They questioned the validity and legality of dealing with these companies. They confirmed that when they

    communicate with the advertisers asking them to preview the property, they insisted to preview it via the photo

    without a preview on the ground.

    They emphasised that this raises their suspicion and doubts about the authenticity of such deals and companies.

    Lt. Colonel Hammoud Al Affari, Deputy Director of the Law Respect Culture Bureau at MOI, told Emarat Al Youm

    that some such individuals have exploited the media through fake advertisements aimed at getting money to

    provide services.

    He added that some of these ads might be a trap to defraud people and rob their money or make fake deals.

    He pointed out that those swindlers adopting very professional manners to trap their victims do not disclose all

    relevant information on real estate sales, the right location, or a statement, or being free of obligations, or

    exaggerate the real price of the said property.

    Al Affari appealed individuals to exercise caution where some of those swindlers resort to using psychological

    methods to influence on people and they play on their desire for quick profit.

    Al Affari stressed that people must make sure that the company that publishes such ads is registered in the UAE

    as per the applicable laws.

    Source: Emirates 24/7

    Back to Index

  • DUBAI | ABU DHABI | AL AIN | SHARJAH | JORDAN

    Asteco Property Management, 2016 asteco.com | astecoreports.com

    IN THE MIDDLE EAST FOR 30 YEARS

    Page 5

    ASSET MANAGEMENT SALES LEASING

    VALUATION & ADVISORY SALES MANAGEMENT OWNER ASSOCIATION

    DUBAI MUNICIPALITY SUPERVISES 25,000

    BUILDINGS UNDER CONSTRUCTION

    Thursday, 25 August, 2016

    The Buildings Department of Dubai Municipality is undertaking engineering supervision of 25,124 buildings under

    construction in various areas of the Emirate of Dubai.

    The engineering supervision process includes inspection and control of all construction works.

    Building permits were issued for various kinds of multi-storied buildings, general and industrial buildings, private

    villas and investment villas as well as additions, amendments and decoration works.

    Khalid Mohammed Saleh, Director of Buildings Department at Dubai Municipality said that the municipality

    receives requests for technical audit of all these projects under implementation as per stages of work.

    "During the first half of the year, the municipality received 25,419 requests for structural audit, which is a 20

    percent increase from the number of last year's requests for the same period," he said.

    "We also received more than 3,000 requests for scrutiny for issuing completion certificates and the first half of the

    year saw issuance of certificates to 5,837 buildings, whereas the number was 2,906 during the same period last

    year," said Saleh.

    He pointed out that the increase in the number of requests for technical audit reflects a positive movement in the

    labour market especially in the construction sector.

    Abdullah Shezawi, Head of Engineering Supervision section at the Building Department said that the section

    undertakes regular engineering inspection at all sites under construction by stages of work and also based on the

    importance and type of technical and construction risks associated with the work stage.

    "The electronic system of the Engineering Supervision section fixes the visit dates specified for each site based on

    the risk study carried out by the section and also by checking with the global best practices in the field," he said.

    Source: Emirates 24/7

    Back to Index

  • DUBAI | ABU DHABI | AL AIN | SHARJAH | JORDAN

    Asteco Property Management, 2016 asteco.com | astecoreports.com

    IN THE MIDDLE EAST FOR 30 YEARS

    Page 6

    ASSET MANAGEMENT SALES LEASING

    VALUATION & ADVISORY SALES MANAGEMENT OWNER ASSOCIATION

    REVEALED: TOP 5 LOCALITIES TO RENT AND

    BUY A HOUSE IN DUBAI

    Thursday, 25 August, 2016

    With the year moving beyond the first half, Dubai Land Department (DLD) data shows healthy transactional

    activity in Dubai.

    Investment in Dubais real estate sector in the first half of the year crossed Dh57 billion, and there has been

    encouraging news coming out of Sharjahs realty market too, with the city pulling in investment worth Dh12.1bn

    in the first six months of the year.

    The real estate market in Abu Dhabi, as always, continues to lure investors with high rental returns on investment

    and a great promise of capital value appreciation.

    Dynamic Dubai

    In July 2016, Dubais real estate market remained strong with rental yields going as high as 6.5 per cent in select

    apartment categories. Overall, however, apartment rents became more affordable with a total downward

    adjustment in July of 2 per cent year-on-year.

    Average yield across all bed categories was recorded at 5.6 per cent.

    As per Bayuts findings, the average rent for studio apartments in Dubai remained stable at Dh57,000 compared

    to the average studio rents in the first half of 2016.

    However, the average was dow