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

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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

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DUBAI | ABU DHABI | AL AIN | SHARJAH | JORDAN

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

DEFINING LANDSCAPES SINCE 1985

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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’

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DUBAI | ABU DHABI | AL AIN | SHARJAH | JORDAN

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

DEFINING LANDSCAPES SINCE 1985

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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

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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