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LATEST NEWS

Largest Listed Saudi developer enters Dubai real estate with Dh800 million tower

14/12/2017
Dar Al Arkan, the largest listed real estate developer in the Saudi Arabia, is entering Dubai’s real estate market with a Dh800 million tower, as part of its plans to expand to global markets. Its Dh800 million tower will be developed on the Dubai Water Canal in the Business Bay area.

VAT spurs trade licensing activities as Dubai Economy records 24,746 transactions

13/12/2017
The introduction of the Value-Added Tax (VAT), has spurred trade license renewal activities as Dubai Economy – the trade license issuer in Dubai – recorded 24,746 transactions, including 11,623 trade license renewals in November 2017 – a new record. For mandatory and voluntary VAT registration, all companies have to renew their trade licences and attach the valid documents, as a pre-requisite to VAT registration.

Gemini Property Developers begins construction of 29-storey ‘Symphony’ luxury project at Business Bay

13/12/2017
Gemini Property Developers, a Dubai-based boutique real estate developer, broke ground and began construction of its 29-storey Symphony tower in Dubai’s Business Bay. The tower is the second of a series of high-end luxury residential projects planned by the developer, after the 90 per cent completion of their debut Splendour at MBR City project in Sobha Hartland community.

Lootah reports 47% completion of buildings

13/12/2017
Lootah Real Estate Development, a Dubai-based developer, said, it has achieved 47 per cent of the construction work on three new G+2 residential buildings within the Ewan Residences community. The Dh500 million residential property launched in 2006 will now feature new additions to its residential buildings portfolio.

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UAE private sector growth accelerates to three-month high
Non-oil private sector growth in the UAE accelerates to three-month high, according to the November Purchasing Manager’s Index (PMI), issued by Emirates NBD bank. Read More...
Office rents comes under 5% VAT from January 2018
All non-residential properties, including office rents will be subject to 5 per cent value-added tax (VAT) from January, Federal Tax Authority of the UAE said urging commercial property owners to register for VAT for properties that exceed the value of Dh375,000 a year. Read More...
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