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2009 Dubai housing crash was a major economic crisis that hit the Emirate of Dubai, one of the seven emirates that make up the United Arab Emirates (UAE). The crisis was sparked by the global financial crisis of 2008, which severely impacted Dubai's economy, particularly its real estate sector. [ 1] The crisis was caused by several factors ...
In contrast, the estate agent firm Chestertons saw the rental market perform better, with an average decrease of only 1.5% in apartment rental prices in Q1 2020. [ 47 ] In January 2023, it was reported that Dubai’s property transactions hit a record high by the end of 2022, which surpassed the records of the year 2009.
Real Estate in Dubai refers to the market for property development and investment in the emirate of Dubai, United Arab Emirates. Real estate is a significant contributor to Dubai's economy, accounting for a substantial portion of the city's GDP. [1] Dubai's real estate market has experienced growth and transformation, driven by the city's rapid ...
Developments in Dubai. The government of Dubai took a decision to diversify from a trade-based, oil-reliant economy to one that is service and tourism -oriented. This has made real estate and other developments more valuable, thus resulting in a property boom from 2004 to 2006. Construction on a large scale has turned Dubai into one of the ...
The Real Estate Regulatory Agency ( RERA; Arabic: مؤسسة التنظيم العقاري) is a government agency to regulate the real estate sector in Dubai, the governmental Dubai Land Department. It's a head agency which forms, regulates and authorizes the real estate sector in Dubai. RERA was founded on 31 July 2007 by His Highness Sheikh ...
Nakheel Properties ( Arabic: نَـخٍـيْـل, romanized : nakhīl, lit. ' palm tree ') is a real estate development company based in Dubai, United Arab Emirates. [ 3] The formal name of the company is Nakheel PJSC (private joint stock company) and it was a subsidiary of Dubai World and a private state-owned enterprise. [ 4][ 2] Nakheel was ...
Jebel Ali Industrial Area (aka Jebel Ali Industrial) is one of Dubai's oldest industrial districts. [9] It is located east of the Port of Jebel Ali, south of Jebel Ali Village, west of Dubai Investments Park, and north of the Jebel Ali Free Zone Extension. [10] There have been a number of industrial fires in the area. [11] [12] [13]
v. t. e. A landlord is the owner of a house, apartment, condominium, land, or real estate which is rented or leased to an individual or business, who is called a tenant (also a lessee or renter ). When a juristic person is in this position, the term landlord is used. Other terms include lessor and owner. The term landlady may be used for the ...