Author Archives: howesdubai

Up, Up and Away

Posted on February 25, 2014 by howesdubai

Emaar released their 2013 results this week with a 21.3% jump in profits to US$ 698 million on a 25.2% rise in revenue to US$ 2.81 billion, of which its retail and hospitality sector accounted for 46%. The developer sold … Continue reading →

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Do You Wanna Know A Secret?

Posted on February 18, 2014 by howesdubai

You cannot keep Arabtec out of the news! The Dubai-based builder, with strong Abu Dhabi-backing, is planning to establish five new subsidiaries, four of which will concentrate on new infrastructure and utility projects within the region and further afield whilst … Continue reading →

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Here We Go Again!

Posted on February 10, 2014 by howesdubai

The big news story of the week came from Arabtec as it announced that the Abu Dhabi state fund Aabar (a 22% shareholder in the Dubai-based builder) had awarded the company a massive US$ 6.1 billion contract for 28 buildings … Continue reading →

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Don’t Cry For Me Argentina

Posted on February 2, 2014 by howesdubai

Reporting season is in full flow with four major Dubai banks announcing their 2013 results. The emirate’s largest lender, Emirates NBD, witnessed a 27% jump in profits to US$ 888 million along with  loans up 9% to US$ 64.9 billion … Continue reading →

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Bring It On!

Posted on January 26, 2014 by howesdubai

Some analysts speak of a glut in the residential market but with the current major population influx, it is difficult to agree when only 9.7k units came on stream in 2013 and an estimated 28k coming to the market this … Continue reading →

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Isn’t It Ironic, Don’t You Think?

Posted on January 20, 2014 by howesdubai

With Jaguar Land Rover, Volkswagen and Rolls Royce announcing impressive regional 2013 growth of 46%, 30% and 17% respectively, there is no doubt that the Dubai motor trade is progressing well. Although final  figures for last year have yet to … Continue reading →

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Only Fools Rush In

Posted on January 13, 2014 by howesdubai

HH Sheikh Mohammed bin Rashid Al Maktoum has issued a decree appointing his son, the Crown Prince, HH Sheikh Hamdan, to head up the committee to supervise preparations for Expo 2020. His great uncle, HH Sheikh Ahmed bin Saeed Al … Continue reading →

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Rock The Boat

Posted on January 7, 2014 by howesdubai

HH Sheikh Mohammed bin Rashid Al Maktoum issued a decree allowing rental increase of up to 20% dependent on circumstances. Rent hikes can come into play, once the rent being charged is 11% below the official RERA guidelines, with incremental … Continue reading →

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It’s All Over Now

Posted on December 20, 2013 by howesdubai

Damac Properties were quick out of the blocks as they announced the launch of their 270-unit Tenora Tower, adjacent to the Expo site near to Dubai World Central. Prices will start from US$ 166k and should be completed within eighteen … Continue reading →

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Nobody Does It Better

Posted on December 16, 2013 by howesdubai

Early signs of the positive impact of Dubai Expo 2020 were evident this week. Marriott International announced plans to increase its number of rooms, over the next six years, to 10k from its current portfolio of 2.7k. Emaar Properties have … Continue reading →

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