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Glass House publishes hyper local content centering on real estate in UAE.

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Sunday
07Mar2010

We're In It Together

It’s a Russian roulette scenario but fortunately no one has the money to buy any bullets either. It was heartening to hear last week that one property developer in Dubai has held up its hands and admitted that we’re in a mess and we need to work out an amicable solution with our customers.

The announcement from investors involved in the Park Towers development in Dubailand said that they had come to an arrangement with the developer to co-own the land.

According to RERA’s own website only 7% of the projects listed are on schedule, as per research conducted by The National.

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CommentPost a Comment | | By AuthorHashim Ahmed
Tuesday
02Mar2010

UAE Mortgage Market Recovery Expected Soon

UAE Mortgage market expected to grow in 2010 Business 24-7, a business news publication in UAE, recently interviewed independent mortgage finance experts from John Charcoal and Globaleye about the current and near future expectations on lending for property buyers and investors.

Low LTV (loan-to-value) ratios and interest rates that still remain much higher than most mature markets are redundant understatements typical of lending in UAE, especially for end-user home buyers.

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Comment1 Comment | | By AuthorAdmin
Sunday
28Feb2010

And The Rains Came

Newly built property have poor finishings How was it for you last night? Did the house or apartment you are living in get flooded or was it effectively water proofed.

It’s funny how little we think about the rain in Dubai, but when it comes it’s always a major surprise and for those whose homes are porous it becomes a major clean up operation. Buckets, newspapers (great for soaking up the water), sponges and clothes need to be at hand.

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CommentPost a Comment | | By AuthorHashim Ahmed
Wednesday
24Feb2010

Dubai Marina Needs Car Parking

Extra parking will improve overall appeal of Dubai Marina Dubai Marina is a beautiful place; it has lovely buildings, shaded walkways, boutique brands, great looking people, and luxurious yachts. Don’t you just love it? I certainly do, every time I get out of my car and take a stroll along Marina Walk.

There’s just one problem. It’s the bit that comes before getting out of the car. I’m talking about parking the car. Unfortunately for most of the residents I’ve met in Dubai Marina, who live in anything other than the first six Emaar towers, parking is the bane of their life.

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Comment6 Comments | | By AuthorHashim Ahmed
Sunday
21Feb2010

Departed Real Estate Developers Leave Another Fine Mess

Markus Alexander Giebel - Deyaar CEO Deyaar, a Dubai real estate developer, recently reported a 95% decline in profits. They made AED 645.7 million profit in 2008 and just AED30 million in 2009. Not a rosy picture.

But we should still give them credit - at least they are around, serving customers, keeping the operational cash flow moving and making albeit a small profit, but a profit nonetheless.

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CommentPost a Comment | | By AuthorAdmin
Wednesday
17Feb2010

Clarity Needed on Residency Visa Issue

Residency visas will boost property sector. I think we all know people who bought property in Dubai for the simple reason that they were going to receive a residency visa.

The section outlining residency visas in property purchase agreements (PPA) would typically have a clause which read something like this:

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CommentPost a Comment | | By AuthorHashim Ahmed
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