NEWS BRIEF 36 - Asteco Property Management · PDF file DUBAI | ABU DHABI | AL AIN | SHARJAH |...

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Transcript of NEWS BRIEF 36 - Asteco Property Management · PDF file DUBAI | ABU DHABI | AL AIN | SHARJAH |...

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

    © Asteco Property Management, 2017 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 36

    SUNDAY, 03 SEPTEMBER 2017

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

    © Asteco Property Management | 2017 | asteco.com

    IN THE MIDDLE EAST FOR 30 YEARS

    Page 2

    ASSET MANAGEMENT SALES LEASING

    VALUATION & ADVISORY SALES MANAGEMENT OWNER ASSOCIATION

    REAL ESTATE NEWS UAE / GCC

    SOME UAE HOTELS EXPECT FULL OCCUPANCY DURING EID AL ADHA HOLIDAYS

    SAUDI ARABIA WILL WANT TO SHOWCASE ITS TRANSITION

    PROPERTY SCAMMERS DEFRAUD PEOPLE OF RENT, DEPOSIT MONEY

    VISIT CITYSCAPE AND SIGN YOUR HOME SALES DEAL

    STERLING OPPORTUNITY: UAE INVESTORS CHERRY-PICK IN THE UK

    MENA POSTS $31.9B M&A DEALS IN H1 2017

    HOTELS, RESTAURANTS GEAR UP FOR EID RUSH

    LANDMARK INKS DEAL WITH EMIRATES HOSPITAL FOR ICARE CLINICS

    EMAAR UNVEILS '17 ICON BAY' RESIDENCES

    POST-BREXIT BANKING SHAPE-UP TO BENEFIT UAE FINANCIAL CENTRES

    SAUDI, BAHRAIN HOTELS SUFFER OCCUPANCY, RATES SLUMP IN JULY

    DUBAI

    MULTIPLE CHEQUES OPEN UP POSSIBILITIES FOR DUBAI TENANTS

    DUBAI REALTY BROKERS NET DH820M IN H1 COMMISSIONS

    INDIANS, PAKISTANIS POUR DH27B INTO DUBAI REAL ESTATE

    WHY INDIANS AND PAKISTANIS LOVE TO CALL DUBAI HOME

    MALAYSIAN FIRMS SET FOR HALAL EXPO DUBAI

    DUBAI PROPERTY MARKET OUTLOOK REMAINS STABLE

    DUBAI RESIDENT STRUGGLING TO VERIFY TITLE DEEDS FEARS LANDLORD RENTAL

    SCAM

    MBRSC SUBMITS OFFICIAL BID TO HOST 2020 INTERNATIONAL ASTRONAUTICAL

    CONGRESS IN DUBAI

    EMAAR ANNOUNCES EXHILARATING TOURIST ATTRACTION FOR ADVENTURE SEEKERS

    DUBAI MUNICIPALITY OPENS OFFICE IN AL LUSAILY

    MOHAMMAD BIN RASHID APPROVES RTA PROJECTS

    DUBAI'S NAKHEEL MULLS FIVE BIDS TO BUILD DRAGON TOWERS PROJECT

    NAKHEEL TRANSFORMS JEBEL ALI CLUB INTO NEW ENTERTAINMENT HUB

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

    © Asteco Property Management, 2017 asteco.com | astecoreports.com

    DEFINING LANDSCAPES SINCE 1985

    Page 3

    ASSET MANAGEMENT SALES LEASING

    VALUATION & ADVISORY SALES MANAGEMENT OWNER ASSOCIATION

    REAL ESTATE NEWS ABU DHABI

    ABU DHABI PROPERTY FIRMS PLAN MERGER AS MARKET STRUGGLES

    HOTEL GUESTS IN ABU DHABI INCREASE BY 4% IN JULY

    ESHRAQ, REEM TO CREATE ABU DHABI'S 2ND LARGEST PROPERTY DEVELOPER

    NORTHERN EMIRATES

    SHARJAH HOSPITALITY SECTOR REVENUES NOW WORTH DH372M

    RAS AL KHAIMAH WOOS BRAZILIAN INVESTORS

    RAS AL KHAIMAH TO OPEN WORLD’S LONGEST ZIP LINEIN IN DECEMBER

    SHARJAH YOUNG LADIES’ GROUP RENOVATES 72 HOMES

    EAGLE HILLS INKS $81M LOAN DEAL FOR FUJAIRAH HOTEL PROJECT

    INTERNATIONAL

    MICRO IS A NICE WAY TO MAKE OUTSIZED RETURNS

    GERMAN INFRASTRUCTURE FUND MAY BE DOUBLED

    WHY PAKISTANIS NEED TO SEND MORE MONEY

    CHINESE DEVELOPER EVERGRANDE POSTS 250 PER CENT RISE IN PROFITS

    ASIAN INVESTMENT IN GLOBAL REAL ESTATE PICKS UP STEAM IN 2017

    U.S. CITIES HAVE A GLUT OF HIGH-RISES AND STILL LACK AFFORDABLE HOUSING

    HOME SALES DROP—AGAIN—AND WILL CONTINUE ‘UNLESS SUPPLY MIRACULOUSLY

    IMPROVES’

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

    © Asteco Property Management, 2017 asteco.com | astecoreports.com

    DEFINING LANDSCAPES SINCE 1985

    Page 4

    ASSET MANAGEMENT SALES LEASING

    VALUATION & ADVISORY SALES MANAGEMENT OWNER ASSOCIATION

    SOME UAE HOTELS EXPECT FULL

    OCCUPANCY DURING EID AL ADHA

    HOLIDAYS Wednesday, August 30, 2017

    Planning to enjoy a short Eid break at a hotel in UAE this weekend? You might want to ring up your favourite

    resort fast, as rooms are filling up and deals are being snapped up. Hotels are preparing for a busy long weekend,

    as thousands of Eid Al Adha holidaymakers visit the UAE and many residents take advantage of free time and

    enjoy a staycation.

    Some hoteliers said rooms have been selling fast in the run up to the holidays and they are expecting to be fully

    booked starting tomorrow, Thursday. Given the huge demand and more last-minute bookings coming their way,

    operators are already reporting a 25 per cent to 35 per cent increase in the summer rates.

    “We have already observed a considerable pickup for the Eid period with our occupancy rates steadily rising to an

    additional 15 per cent to 20 per cent over the past few days,” said Wael El Behi, general manager at First Central

    Hotel Suites on Tuesday.

    “We have kept our rates competitive, with a slight increase of 25 per cent to 35 per cent in comparison to our

    previously offered average summer rates.” Starting Thursday, August 31, private and public sector employees in

    the UAE are getting three and four days off, respectively, for the Eid Al Adha holidays.

    Islamic holidays are usually a busy time for many hotels in the UAE. Not only do properties enjoy a boost in local

    demand, there’s also a huge influx of regional tourists who are drawn to the UAE’s mega shopping malls, popular

    landmarks and family-friendly attractions. The popular Downtown Dubai alone is expected to see more than one

    million visitors during the holiday period. Glenn Nobbs, general manager at Copthorne Hotel in Dubai, said they

    are expecting guests from the neighbouring GCC states, especially Saudi Arabia, Kuwait and Oman. “We again

    expect to be running at 100 per cent occupancy over the Eid weekend, and maybe even extending a few days into

    the following week,” Nobbs told Gulf News.

    At the properties operated by Rove Hotels, rooms are filling up quite quickly and rates are inching up. “We expect

    to be full during the Eid period, though we still have a few rooms left. Traditionally, the booking window for the

    Eid holidays is quite last minute,” said Paul Bridger, corporate director of operations at Rove Hotels.

    “Room rates have slightly gone up from the summer rates, however, [they] have stayed true to our promise of

    providing great value,” added Bridger. Starting rates across the hotelier’s properties still average around Dh215.

    Millennium Plaza hotel in Dubai is likewise expecting their guest list to include travellers from Saudi Arabia, Oman,

    Kuwait, in addition to UAE nationals and residents. “We are also expecting the rates to increase further during Eid,

    due to the trend of last-minute bookings online,” said Greg D'Souza, director of sales and marketing at Millennium

    Plaza Dubai. At Al Bustan Centre and Residence, there will be an influx of staycationers who will be taking

    advantage of the Eid Al Adha promotions and kids’ activities around Dubai, according to Moussa El Hayek, COO at

    Al Bustan Centre & Residence.

    Source: Gulf News

    Back to Index

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

    © Asteco Property Management, 2017 asteco.com | astecoreports.com

    DEFINING LANDSCAPES SINCE 1985

    Page 5

    ASSET MANAGEMENT SALES LEASING

    VALUATION & ADVISORY SALES MANAGEMENT OWNER ASSOCIATION

    SAUDI ARABIA WILL WANT TO SHOWCASE

    ITS TRANSITION Saturday, September 2, 2017

    Saudi Arabia’s economy remains a net beneficiary from the annual Haj inflow, both on the back of investments

    from government entities and spending by pilgrims. This year’s pilgrimage is noted for a number of developments

    including the return of pilgrims from Iran, who are noted for their willingness to spend on gifts.

    Also, the government has made headway in infrastructure development in and around Mecca via investments on

    trains and road networks. Understandably, Saudi officials are paying particular attention to Umrah. Officials do

    not allow Umrah prior, during and immediately after the Haj. However, this year was an exception, as officials

    extended the Umrah season by a month to June 10, with untold benefits to Saudi businesses.

    In 2016, the kingdom issued 6.4 million visas to perform Umrah, up by 7 per cent from 2015. Yet, the actual

    numbers performing Umrah is higher when adding nationals from Saudi Arabia as well as those from the Gulf,

    who do not require permits or visas to perform the “little” Haj. The Saudi vision 2030 calls for tripling the number

    of people performing Umrah. Undoubtedly, the move is popular with the Saudi business community, especially

    the hospitality sector, as this ensures the arrival of pilgrims on a steady basis to the holy shrines.

    Four cities in western Saudi Arabia generate substantial benefits from the Haj, namely Makkah, Madinah, Jeddah

    and Taif. The King Abdul Aziz Airport in Jeddah serves as gateway to Makkah. Yet, others from within the kingdom

    and other GCC countries travel to the holy sites via Taif.

    The advantages go further than the four cities, as Saudi firms throughout the kingdom get the opportunity to

    market their products to p