Author: homesdubai

700 Villas remain unclaimed

700 hundred completed villas in Dubai are reportedly lying empty because their owners have not come forward, Master developer Nakheel has 700 of 9,000 completed homes unclaimed as yet. “We took a resolve to deliver 9,000 units. As we speak today, 8,300 have been delivered, keys handed over (but) the remaining 700, we are still looking for the customers,” according to chief executive Sanjay Manchanda. “We are finding it difficult to establish contact [with customers]. This could be for various reasons. Maybe the person has left the country, or due to natural causes such as a death?” “Or maybe they just paid the 10...

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Dubai Rental Report

JLL real estate consultancy has issued its first quarter rental report. The rents have remained stable in the monitored areas. These include apartments in Downtown , Dubai Marina, Palm Jumeirah, Discovery Gardens, International City, and Sports City. Also monitored were villas in Palm Jumeirah, Arabian Ranches and Emirates Living. Another consultancy Reidin’s rental index shows growth levels dropping to 8 per cent year-on-year in February 2015 (from 23 per cent y-o-y in Q1 2014). The JLL report said 730 new residential units were delivered in the first quarter, with an additional 22,000 likely to enter the market before year-end. Plumb said that “increasingly...

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EXPO 2020 metro extention announced

Sheikh Mohammed bin Rashid Al Maktoum, Vice-President, Prime Minister and Ruler of Dubai, has endorsed the Masar 2020 Project to extend the Red Line of the Dubai Metro to the site of Expo 2020. The extended sector of the metro line from Nakheel Harbour & Tower Metro Station stretches 15km and includes seven stations, the Roads and Transport Authority announced on Saturday. It said in a statement that Sheikh Mohammed has directed to start the project construction works immediately, and to complete it on the fixed timeline ahead of Expo 2020. The project, tendering on which is set to...

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