If a developer delays the handover of your Dubai property as per the sale agreement, you may be entitled to compensation. This compensation can be claimed as outlined in the Sale and Purchase Agreement (SPA) or through a court decision. The SPA is governed by the UAE Civil Transactions Law, specifically Article 246, which mandates the contract's implementation in good faith. Should the developer fail to...
After a 124 percent surge since 2020, Dubai experienced a slight moderation in real estate price growth, slowing from a 15.9 percent increase in the first quarter to a 0.3 percent decline in the second quarter, according to an international property consultancy. Globally, Manila has led Knight Frank's Prime Global Cities Index, recording a 26 percent increase. This index tracks the movement of prime...
Nakheel, the project's developer, has been awarded a contract worth AED810 million for marine works. Construction on the main road connecting the island to Sheikh Zayed Road is also progressing. Palm Jebel Ali is projected to be three times larger than Palm Jumeirah. The island will feature 16 fronds and several additional islands, attracting interest from wealthy investors from Europe and...
Here’s everything you need to know about obtaining an Airbnb license in Dubai: Property owners in Dubai who want to earn from short-term rentals on platforms like Airbnb must go through a licensing process. The Dubai Department of Economy and Tourism (DET) has established regulations to govern the industry, ensuring that all short-term rental hosts meet specific requirements. Frank Porter, a...
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