Category: News

Q1 Dubai Metro transports 50M passengers

Dubai Metro’s Red and Green Lines registered nearly 50 million users during the first quarter of 2016, according to new figures. Statistics from the Roads and Transport Authority (RTA) revealed that 49,913,698 people rode the transport system in Q1 while the Dubai Tram reported 1,338,601 riders. “This rise in the ridership of both the metro and tram during the first three months of this year is indicative of the appeal of these modes to residents and visitors of Dubai,” said Abdul Mohsen Ibrahim Younes, CEO of Rail Agency of the RTA. “We, in RTA, are continuously endeavouring to deliver...

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Dubai’s costliest Penthouse to surpass AED 200M

Al Hartour City situated on the Dubai Canal waterfront will have three towers with 1460 apartments. There will be 12 penthouses on offer with the costliest expected to be a record breaking AED 209,844,888 according to the Tamleek Real Estate Co. The Residence Collection will include three VIP penthouses are spread across four floors and offer the ultimate luxury experience, with seven spacious bedrooms including an opulent master bedroom with ‘his and hers’ bathrooms, as well as multiple garden terraces, plus a lap pool and open-air Jacuzzi, a gym, a sauna and a steam room. The two top floors feature a...

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British Starman Tweets Dubai from space

British ESA astronaut and test pilot Tim Peake’s Twitter location is a bit different to other people’s. It’s currently set to “Low Earth Orbit” as he works onboard the International Space Station for six months. While he’s up there, he’s been capturing some incredible photos and videos, which have amassed him an impressive following of 526,000 followers on Twitter. Yesterday, he gained a few more from Dubai, posting two pictures of the city from the Space Station. In his first tweet, he posted the picture below with a caption: “I’ve been waiting to get a pic of The Palms,...

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2017 Rebound time ?

  Dubai’s residential real estate market, which has seen price declines for the past year, is likely to witness a rebound in 2017, according to a new report. KPMG’s review of Dubai’s property market predicted that while 2016 may be a “challenging year” due to a number of internal and external factors, the market should see an upturn next year. While certain areas of Dubai have been more impacted than others in terms of declining prices, the overall magnitude of the decline has been tempered, said KPMG. It said that this is a result of “vastly improved regulations”, adding...

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Q1 sees over 8,000 sales transacted

Dubai recorded AED 54,782 billion ($14.9 billion) of real estate transactions in the first quarter of 2016, it was reported on Sunday. In its quarterly update, the Dubai Land Department (DLD) said that the $14.9 billion of transactions included 8,440 sales and 3,213 mortgage transactions, as well as 915 “other” transactions. Sales and mortgages related to land transactions totalled AED42,729 billion ($11.6 billion), with commercial property taking the lion’s share of deals by value, with AED12,053 billion from 8,892 transactions. Dubai Marina was the most popular for real estate unit sales, followed by Burj Khalifa and Business Bay. DLD’s...

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