How Much Should Dubai Property Buyers Save Before Purchasing a $1 Million Home? In Dubai’s real estate market, buyers often wonder how much they need to save before committing to a million-dollar property. Financial experts suggest that aside from the initial down payment, buyers should set aside AED1.25-1.6 million ($340,000-$435,000) before making a purchase. According to Mike Coady, a...
Fitch has also given Binghatti a ‘stable outlook,’ reflecting confidence in the company’s continued financial discipline and market leadership. Dubai’s leading developer, Binghatti Holding, announced that Fitch Ratings has upgraded its Long-Term Issuer Default Rating (IDR) and senior unsecured debt from ‘B+’ to ‘BB-’. The upgrade is attributed to Binghatti’s strengthened financial...
It seems that UAE property buyers are finally gaining more leverage over sellers than they have in years. Recent data shows that prices have started to decline, indicating a market where developers and sellers are becoming more willing to adjust their pricing. Previously, generous commissions offered by developers were not enough to prevent a downturn in certain indices, particularly those dominated by...
Dubai Municipality has introduced updated planning regulations allowing home extensions and additional living space within residential properties. As part of the UAE’s “Year of Community,” announced by President Sheikh Mohamed bin Zayed Al Nahyan, the municipality launched the “Home First” initiative to enhance housing facilities for Emirati families. This initiative introduces a series of...
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