Author Archives: howesdubai

Forever Blowing Bubbles!

Posted on September 16, 2015 by howesdubai

There is one major problem with Dubai’s most expensive penthouse at US$ 49.3 million – it has yet to be built! However, a contract will soon be awarded by the developer, Omniyat, to build the One at Palm Jumeirah. With … Continue reading →

Posted in Finance | Tagged , , , , , , , , , , , , , | Leave a comment

Both Sides Now

Posted on September 7, 2015 by howesdubai

ValuStrat’s latest report shows an 11% drop in Q2 Dubai residential property prices, but only a 3% drop in rentals, compared to a year earlier. The research firm also indicated that 26.1k apartments and 2.4k villas will be added this … Continue reading →

Posted in Finance | Tagged , , , , , , , , , , , , , , , | Leave a comment

One Way Or Another

Posted on September 1, 2015 by howesdubai

There is no doubt that there is a slowdown in the Dubai realty sector and, according to Moody’s, it seems that the main cause is the emirate’s tighter property rules (including the recent doubling of registration fees to 4% and … Continue reading →

Posted in Finance | Tagged , , , , , , , , , , , , , | Leave a comment

Welcome To Our World!

Posted on August 27, 2015 by howesdubai

Narendra Modi became the first Indian prime minister in 37 years to visit the country and during his 2-day visit, plans were raised for a US$ 75 billion fund for infrastructure projects in India. Modi is particularly keen to see the … Continue reading →

Posted in Finance | Tagged , , , , , , , , , , , , , | Leave a comment

Are You With Me?

Posted on August 16, 2015 by howesdubai

The most recent project to be announced by HH Sheikh Mohammed bin Rashid Al Maktoum is the Museum of the Future, to be located next to Emirates Towers on SZR. According to the new law, a US$ 2.72 innovation fee … Continue reading →

Posted in Finance | Tagged , , , , , , , , , , , , , | 1 Comment

Those Were The Days

Posted on August 9, 2015 by howesdubai

The big story of the week is the proposed Meydan One. Being Dubai, the 3,671k sq mt development will include three world firsts – tallest residential tower (at 711 mt), largest indoor ski slope (three times bigger than the current … Continue reading →

Posted in Finance | Tagged , , , , , , , , , , , , , , , , | Leave a comment

It Is Time To Say Goodbye

Posted on August 3, 2015 by howesdubai

A recent Central Bank report indicates that the government is planning a 4.1% cut in public spending to US$ 125.5 billion, in the wake of the massive fall in oil revenue. This is in sharp contrast to recent annual hikes … Continue reading →

Posted in Finance | Tagged , , , , , , , , , , , , | Leave a comment

Nowhere Man

Posted on August 3, 2015 by howesdubai

Although local petrol prices, at US$ 0.47 per litre, are the highest in the GCC, they still have to go a long way to match the likes of Hong Kong, Norway, Netherlands and the UK, where they stand at between … Continue reading →

Posted in Finance | Tagged , , , , , , , , , , , , | Leave a comment

The Last Time!

Posted on August 2, 2015 by howesdubai

With an expected opening later in the year, Al Habtoor City has started a major recruitment campaign for its mega hospitality and residential project. The multi-use development, located on SZR, includes three 5-star hotels, three residential towers, retail and restaurant outlets, … Continue reading →

Posted in Finance | Tagged , , , , , , , , , , , | Leave a comment

So Far Away!

Posted on July 9, 2015 by howesdubai

It seems that Dubai Sports City is in serious discussions with financiers for a new 60k-seat football stadium, that would complement their existing 25k-capacity cricket ground and the Els Golf Course. Design work has been completed and the proposed facility … Continue reading →

Posted in Finance | Tagged , , , , , , , , , , , , , | Leave a comment