MENA: Dubai hotels end 2013 with occupancy above 80 percent as rates and profits surge

Hotels in Dubai reported the highest profit levels in the region in 2013 for the fourth consecutive year, according to the latest HotStats survey of full service four and five star hotels in five MENA markets by TRI Hospitality Consulting Middle East. During the month of December, Dubai continued to record strong performance levels reflecting […]

Dubai Marina proving popular with buyers and renters

Dubai Marina continues to be the most popular location in the emirate for buyers and tenants, but Dubai Sports City is fast growing in popularity, according to the latest data report. A review of nearly two million visitors by real estate portal PropertyFinder found 18.67% were searching for Dubai Marina units to buy and 18.41% […]

Improving economy boosting growth in Dubai’s commercial real estate sectors

Growth is being recorded across most of Dubai’s key commercial real estate markets as the   emirate’s economy rebounds, creating increased occupier demand. But this is focused mainly on centrally located submarkets such as DIFC, Downtown Dubai, Business Bay, Barsha and Jumeirah Lake Towers (JLT), according to the latest research by international real estate consultancy Cluttons. […]

Abu Dhabi fund buys TAHL assets for $800m

GLOBAL investment heavyweight Abu Dhabi Investment Authority has provided a boost to the hotel industry with the record-breaking $800 million purchase of Australia’s largest hotel owner, Tourism Asset Holdings. The deal gives the Middle Eastern group, which is a major hotel investor around the world, ownership of a portfolio of 31 properties. It is also […]

CBRE new appointment – global head of research

CBRE Group Inc. today announced that Nick Axford, PhD, has been named Global Head of Research, a new position. Dr. Axford is currently Head of Research for CBRE’s Asia Pacific business, and will assume his new global responsibilities immediately. In this global role, Dr. Axford will have overall responsibility for managing the operations of CBRE […]

Dubai to build world’s largest Ferris wheel

Dubai is once again set to add another record-breaking monument to their landscape with the largest Ferris wheel in the world. Construction of the Dubai Eye is set to begin this spring as part of a larger development project located off the Jumeirah Beach Residence coastline that hopes to draw more than three million visitors to the […]

Dubai to build world’s biggest mall

Dubai on Saturday announced a new development to open the world’s biggest mall and a park larger than London’s Hyde Park. The ruler of the Gulf desert city state, Sheikh Mohammed bin Rashid al-Maktoum, announced the plan for a “new city within Dubai,” according to an official statement, naming it after himself. No cost was […]

World Cities Review 2012

The fourth edition of Savills World Cities Review takes a closer look at ten world class players in the global property market. Where does your city rank? Read the World Cities global research report and discover which ten cities are shaping global real estate. Read exclusive comparisons of the mainstream and leisure property prices between ten cities across the world. Discover the […]

Km-high tower set to rise

Financing for the kilometre-high Kingdom Tower is complete, according to Talal Al-Maiman, chief executive and managing director of Kingdom Real Estate Development Co. The Kingdom Tower in Jeddah will eclipse today’s highest skyscraper – the 828-metre Burj Khalifa in Dubai – when completed in 2018. It is expected to cost $US1.2 billion, with construction expected […]