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Last Updated: Wed, Jul 27 2016 | 11:44 AM |

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1

Thumbay Group reveals $163m MENA expansion plan

Dubai-based Thumbay Group plans to build six new hospitals in the UAE and beyond, a senior executive has revealed.The company announced in June that its construction subsidiary would build AED600 million...

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Posted by: Spurgeon Sugumar Jul 25, 2016 10:00 AM [United Arab Emirates]

10,000 new employees by 2012 ? typo pls correct

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2

Indians top list of non-GCC investors in Dubai real estate

A total of AED57 billion ($15.5 billion) was invested in Dubai’s real estate market in the first half of 2016, the latest figures from Dubai Land Department (DLD) show.The figure was invested by 26,000...

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Posted by: Lars Hansen Jul 25, 2016 10:57 AM [Portugal]

This data would be more informative and therefore drive other "related investments" if the real estate investments were classified as:- "Sweat"ie make the investment work eg rental,.......... "Swim"ie relax occasionally as 2nd home.........or "Switch" relocate to live permanently in Dubai.

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1

Dubai's RTA plans Uber-style service for taxis

Dubai’s Roads and Transport Authority (RTA) is planning an app that will allow the city’s residents to access all forms of public transport in one location.The Integrated Mobility Platform will allow customers...

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Posted by: F Backer Jul 24, 2016 2:30 PM [United Arab Emirates]

Hope the price of taxi fare will come down so we are encouraged to leave our car behind.

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15

Real estate agent claims 'definite shift' in Dubai property market

The flurry of contradictory reports about the health of the Dubai property sector is continuing, with one local realtor claiming that there has been a “definite shift” in the market.Lewis Allsopp, the...

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Posted by: Rajen Jul 24, 2016 12:03 PM [UAE]

Just sold 2 apts in JLT after months of trying. On the second one at the agents advice, I increased the price by 100K and still achieved a quick sale. Would have held on had it not been for personal circumstances and needing to liquidate.

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1

UAE to exempt some SMEs from need for bank guarantees

The UAE government has said that some small and medium-sized enterprises in the country will no longer require a bank guarantee to continue their operations from the beginning of October.Smaller firms...

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Posted by: One Guy Jul 24, 2016 11:35 AM [DXB]

So not equal opportunity?
That sounds like an excellent way to assist all of the SME's that have helped to make the country great.

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10

Sheikh Mohammed and Crown Prince take trip on London Underground

Members of Dubai’s royal family appeared to go largely unnoticed as they used the city’s iconic London Underground to travel around the UK capital.Pictures of Sheikh Mohammed, Ruler of Dubai, and his son...

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Posted by: H.A Jul 24, 2016 11:35 AM [UAE]

Hello Steven,

Roads are not blocked as done in most of the countries for their swift passage.

In fact, HH moves around on his quite often unless of course its a requirement. ( Actually, I have never seen that in so many years out here )

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5

70% of UAE residents opt to rent rather than buy a home

About 70 percent of UAE residents prefer to rent rather than buy property, despite half of them having resided in the country for five years or more, revealed a survey by UAE real estate website propertyfinder...

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Posted by: Rakesh Kapur Jul 24, 2016 9:37 AM [India]

Partially the legal system of the country is to be blamed for this. Hydra Properties washed its hand and did not give delivery of apartments to investors in Hydra Avenue. People, like me, who invested and won court case against Hydra Properties are yet to receive refund despite winning the case way back in 2011. With what motivation should one invest in property when the legal system of the country is unable to act upon defaulting builders.
I also invested for an apartment in Q-point... it was supposed to be delivered to me in 2009... it is 2016 now and still it is under construction... what about the money I paid.. who will refund me the money...
The builders refuse to answer, the lawyers show their inability in recovery, the Honourable Courts are unable to executive their own judgements.

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8

A cautionary tale from the Dubai property market

For property investors, it’s a nightmare scenario. You complete your payments, spend almost a decade waiting for your apartment to be handed over and then are landed with an additional huge bill from the...

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Posted by: Ray Chaudhri Jul 24, 2016 9:37 AM [UAE]

At least you are getting a bigger flat area at 2007 launch prices, which is not that bad if you have spare funds or the bank agrees to fund the excess proportionate to the earlier mortgage. What is very disturbing is that project by reputed developer AL ATTAR Group (Vue de Lac, Vista de Lago in JLT - Cluster K, and Global Point - Polaris - Poladio - Skyscraper - Toronto tower - Vancouver Tower etc.) simply stole millions of investor money and all you see there is LARGE GAPING HOLE in the ground, now almost 9 years have passed. RERA does nothing against Al Attar as their are UAE nationals. They have created massive fraud against hundreds of investors and should be prosecuted. In 2007 they pose me close to AED half million, which in 9 years should have been double the value if not more. They have enough wealth & assets to pay back the investors, but due to slack & inadequate real-estate laws back in 2007, they have used those loop-holes to go scot-free. This is inexcusable.

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1

Restaurant run by Saudi women opens in Qassim region

A group of Saudi women in the central region of Qassim in KSA have opened a restaurant staffed solely by women.The outlet is the first of its kind in the region and was launched to help tackle the issue...

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Posted by: khalid Jul 24, 2016 9:02 AM [bahrain]

Excellent move ladies. You should also cook out of your homes and cater to small parties. In Bahrain, lots of local women have started cooking authentic Bahraini from their homes and are doing a good job.

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2

200 SMEs said to be at risk of closure in Bahrain

Due to financial struggles and market challenges, about 200 small and medium enterprises (SMEs) in Bahrain including construction and advertising firms could close down.The companies, who have reportedly...

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Posted by: khalid Jul 24, 2016 9:03 AM [bahrain]

All the GCC should have this vital legislation of Chapter 11, I have read and heard countless stories where genuine entrepreneurs have ended up in jail simply because there is no restructuring legislation in the GCC. Another outcome of this Chapter 11 would be it would discourage expat entrepreneurs to run away leaving behind debts.

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