Apartment rents in the lower end of the market fell eight to10 per cent in the first quarter compared to the last quarter of 2010, while new villa developments continued to face decline in capital and rental values due to lack of infrastructure, Cluttons said on Sunday.

Nakheel, Dubai-based master developer, has recommenced booking for berths in Palm Jumeirah and plans to double the berth number in the project, according to a senior company executive.

Rents in Dubai are touching new lows with one bedroom units being offered at Dh21,000 for a year in International City, while a similar unit at the Discovery Gardens is down to Dh35,000 from its peak of about Dh75,000, according to property advertisements posted earlier this week.

The UAE‘s property market has bottomed out and will start showing signs of recovery by the end of 2011, the country’s Minister of Economy said.

Upcoming supply is likely to put pressure on rentals over the medium term in Dubai despite a stronger economic growth this year in the UAE will support demand, HC Brokerage said.

Owners of full floors in Burj Khalifa are not willing to sell units at a discount, but are willing to rent them at reasonable rates instead.

Nakheel real estate company expects to reach a final debt restructuring deal with its creditors in January before it starts issuing Dh6 billion bonds in the first quarter of 2011, its chairman was reported on Thursday as saying.

Driven by a decline in demand and an increase in supply of office units in the emirate, selling price of commercial spaces in Dubai recorded a drop of more than 20 per cent in the first 10 months of 2010.

If Landmark Advisory's November lease guide is to be believed, then office rents in Jumeirah Lake Towers (JLT) have witnessed the most significant fluctuations with the lower rental limit falling by almost 50 per cent to just Dh25 per square foot.

Service charges for Skycourts project, which consists of 2,836 apartments in six high-rise towers, has been set at Dh7.9 per square feet, which the developer claims to be the “lowest” rate across any residential tower in Dubai.

The UAE leads the world on the ‘ease of registering property’ indicator, part of a new World Bank report that ranks 183 countries globally on key aspects of business regulation for domestic firms.

Renting an apartment in Burj Khalifa, the tallest tower in the world, is now more affordable as studios are being leased for Dh80,000 a year compared to Dh110,000 in August.

The plan to develop the iconic Signature Towers, formerly known as the Dancing Towers, has not been scrapped, according to Dubai Properties Group (DPG).

Nakheel, Dubai-based developer, expects Arabtec Holding to recommence work on the 500 villas in the Al Furjan project in a coming weeks, said a top company executive.

Dubai Municipality said that it has received very good response form those who came to register into the housing fee system which applies to all occupants of residential units, whether leased or owned.

RAK Properties, a major property developer in the emirate of Ras Al Khaimah, will make early settlement of $45 million (Dh165.15 million) government loan which is due to mature in 2014.

With over 50,000 units to be supplied by the end of 2011 in Dubai, finding the ideal apartment can be a tricky task.

For unit owners of Goldcrest Views 1 in Jumeirah Lakes Towers have been residing in the 40-storey residential tower for more than two years now, but have not received their title deeds yet.

Sharjah has issued a law on real estate registration that has limited the right to own real estate in the emirate to UAE nationals and nationals of GCC states and corporate bodies fully owned by them.

Some developers in Ras Al Kaimah are guaranteeing three-year residence visas in exchange of buying a property located in the emirate. This is despite the federal law that only allows for six months visa.

Even the rents in Burj Khalifa are wilting under the summer heat. Studio apartments are being offered for between Dh100,000 and Dh110,000 compared to Dh140,000 a month ago, a reduction of almost 40 per cent.

Dubai property regulator on Tuesday updated its Rental Index, showing a decline in rents in most of the emirate’s popular areas in July 2010 compared to March 2010.

In a bid to attract property buyers, developers have started to offer “guaranteed” rentals to multiple unit buyers and even free maintenance for their properties was reveal.

Rentals in Dubai are likely to fall further during the summer months, with prospective tenants getting the upper hand and being able to bargain much better with landlords, according to realty experts.

The Island of Italy is up for sale in the secondary market for Dh80 million and the owner is ready to sell it without a premium.

The Dubai Cassation Court has introduced a new legal ruling necessitating the registration of the property purchase contract with the Lands and Property Department as means of proving property ownership.

Landmark Property has made a "first offer of its kind" offer, according to property advertisements.

Prime rental yield in Dubai International Financial Centre (DIFC) is much higher than some of the most sought after commercial destinations in the world, according to a report.

Several apartment buildings in Dubai are facing a shortage of maintenance cash because property owners have failed to pay service fees, reported The National on Sunday.

Union Properties, the Dubai-bourse listed developer, has again postponed handover of units in its Limestone House project in Dubai International Financial Centre to end-September.

Dubai’s Real Estate Regulatory Agency (Rera) is taking stern action once again to control the activities of freelance brokers/agents and has termed their activities “illegal”.

The first public auction of repossessed mortgage properties is expected to be held in a month's time.

Landlords should register agreements of property investment or management with the Ajman Municipality or they will face stiff penalty, said Mohammed Al Marzouqi, Head of the Economic Licences Department of the Ajman Municipality and Planning Department.

Gulf oil producers need to introduce mortgage laws that should involve government incentives to control the real estate sector and prevent damaging speculation, a key Saudi investment company said yesterday.

The majority of Burj Khalifa unit owners are not inclined to sell their property in the secondary market and would rather look to lease them, real estate brokers say.

Dubai Silicon Oasis (DSO), the integrated free zone technology park, yesterday said the phase two of Dh1.55 billion Cedre Villas project has already received pre-bookings for more than 30 per cent of units.

The best rental deals in Dubai are currently available in International City, Discovery Gardens and Dubai Silicon Oasis as landlords there start to compete to rent their units, according to realty consultants.

The Land Department of Dubai released guidelines for implementing the Strata Law, which redefines the rights, responsibilities and obligations of all parties to jointly owned properties.

All occupants of residential units in Dubai will compulsorily have to pay housing fees from January 1, 2011, as the Dubai Municipality aims to bring in around 300,000 unit occupants who are evading the fees, a top government official said.

The Dubai Multi Commodities Centre Authority (DMCCA), the master developer of Jumeirah Lakes Towers (JLT), said it is in talks with "appropriate" authorities to waive the housing fees levied by Dubai Municipality (DM), citing it as a free-zone area.

Dubai and Abu Dhabi are ranked ninth and 19 on the list of the most expensive market with occupancy costs at $108.92 and $72.71 per square feet per annum, according to CB Richard Ellis.

Some real estate brokers in Dubai are incorporating clauses such as finding replacement tenants, or forego rent for the remaining period if a person loses his job told prospective tenants.

An investor in The World project may have found a way to go around the "no flipping" diktat by Nakheel as he puts an island on sale, the first time one is being sold in the secondary market.

The still-lingering global downturn has resulted in the UAE real estate market becoming maturer, with several things happening simultaneously – stiffer regulations, speculators' exit and a growing interest from serious investors with long-term commitments, according to industry analysts and developers.

The Sharjah Government is working on a law to govern property registrations in the emirate.

The collective profits of Gulf Co-operation Council (GCC)-listed real estate companies increased by 7.35 per cent to reach $3.33 billion (Dh12.24bn) in the financial year 2009, compared with $3.1bn in 2008, according to Global Investment House.

Rent dispute cases in Dubai dropped 40 per cent in 2009 from the previous year, according to a top official of the Dubai Rent Committee.

Limited off-plan sales activity is being recorded in Dubai especially for properties in a good location and for those nearing completion, real estate experts said.

Abu Dhabi is expected to add nearly three million square feet of office space in the capital's Sowwah Island over the next four years, a recent report revealed.

The Cushman and Wakefield report said a typical lease length of commercial properties in Dubai is about one to three years.

Bonyan International Investment Group, a Dubai-based property developer, has begun the handover of its Dubai Gate 1 project in Jumeirah Lake Towers (JLT), a company executive said.

This will make the Dubai rental market one of the best regulated Mohammed bin Hammad, Real Estate Regulatory Agency. (EB FILE)

Burj Khalifa has been declared “the world’s tallest building” at a height of 828.00 metres (2716.54 feet) by the Chicago-based The Council on Tall Buildings and Urban Habitat (CTBUH).

Property developers in Dubai have started to rent out units of buyers, who are unable to pay their final instalment due on handover, and are adjusting the money received against the remaining amount.

Occupancy levels are running at between 60 and 75 per cent across The Palm Jumeirah's villas and apartments, according to realtors.

Damac Properties has announced that 2010 will be the year of handovers – with more than six projects due to be completed in Dubai during the next 12 months.

Dubai 's Emaar Properties said on Thursday that revenues stemming from the sale of units at Burj Khalifa, the recently-opened, world's tallest tower, will boost the company's 2010 revenues.

An investor can claim his rights on his long-term leasehold property with the Property Court in Dubai, say legal experts.

Fortune Group, a Dubai-based developer, said yesterday it is putting in its own equity to complete the Fortune Executive Tower in Jumeirah Lake Towers after registering defaults from customers.

Dubai property giant Emaar said on Thursday it returned to profit in the third quarter, earning Dh655 million ($178 million) after tax, following a Dh1.285 billion (Dh350 million) loss in the three months to June.

A state panel overseeing the restructuring of two Dubai mortgage lenders is recommending merging them into an Islamic bank early next year, the UAE economy minister said.

In tough times, especially when people are losing their jobs, the reality is that some mortgage holders and people with credit card debts have been unable to repay or service their loans.

Aldar Properties posted a second-quarter net profit of Dh251.4 million ($68.44 million), down 79.7 per cent from the year-earlier period, according to Reuters calculations.

Tameer Holding Investment said yesterday it has completed Palace Towers development comprising 424 residential apartments and 150 office suites in Dubai Silicon Oasis.

Nakheel, the real estate arm of Dubai World, has announced a “prompt payment scheme” for five of its projects, allowing investors to save up to 30 per cent.

Developers and master developers in Ajman failing to meet the May 1 deadline on registration will not be able to sell their properties "off plan", and will be considered to be in violation of the Ruler's Decree, a senior government official said.

Tanmiyat, the developer behind the Living Legends project in Dubailand, has announced its compliance with the directives of Dubai's Real Estate Regulatory Agency (Rera) that it would suspending the collection of all payments and instalments for the Living Legends until a revised payment schedule is finalised

The Dubai property market is expected to rebound in 2011 after stabilising next year, according to research by global real estate firm Jones Lang LaSalle.

Ajman Marina Company yesterday announced that it had sold out the phase one plots of Ajman Marina project to sub-developers, collecting revenues of more than Dh1 billion.

Ras Al Khaimah’s recently unveiled Gateway City plans to abide by its name. Along with the new convention centre, the new development located along Emirates Road will form the entrance to the bustling northern emirate of the future.

Property cases that were originally submitted to the Real Estate Regulatory Agency (Rera) and Dubai Courts are to be passed on to the Property Court when it starts sitting in the first week of October.

Sheffield Real Estate currently has projects worth Dh7 billion, said the Dubai-based private developer in a statement.

Residential units in Dubai will offer the most attractive returns in 2008, growing 37 per cent annually, which will be followed by commercial and retail space, according to a new study.

The Dubai Land Department is in the preliminary stages of establishing a unified real estate database covering whole of the UAE.

Dubai-based Awali Real Estate Investments yesterday launched four towers – two residential and two commercial – in Awali City on Emirates Road in Ajman, the developers said in a statement.

Emaar Properties yesterday launched Warsan Estate, a residential community located on Al Awir Road. The master-plan of the project, currently being finalised, envisages over 500 single family townhouses.

Master developer Dubai Properties, a subsidiary of Dubai Properties Group, yesterday said it sold an entire building in its Dh6 billion Bay Square development within hours of release.

Market dynamics at play in Abu Dhabi ’s real estate space is the primary factor behind more developers looking closely at prospects in the capital city. Over the last two quarters, there has been a substantial increase in plot sales in Abu Dhabi involving Dubai and GCC based developers/investors.

International architectural and engineering firm Atkins has been appointed by Abu Dhabi-based developer Tasameem to design a new icon for Dubai ’s skyline, located in the heart of the emerging Dubai Trade Centre District.

Zaya development will reveal plans for a new private island community in Abu Dhabi ; it is first public real estate project in the emirate.

Iris, a Dubai-based property developer, launched Iris Crystal, a Dh600 million commercial development in Business Bay.

A Dhs3 billion project to reclaim land and create a showpiece marina in Ajman is under way. Azad Nouri, General Manager of Ajman Marina, outlined plans for the 244,409-square-metre project being built behind the Ajman Kempinski Hotel

Net income for the largest Arab real estate company by market value fell 3.8 per cent to Dhs1.66 billion for the three month to March 31, meaning annualized earnings per share of Dhs1.08, compared with Dhs1.72 billion in the year-earlier period.

Nakheel, the real estate development arm of Dubai World, announced the launch of the first phase of Veneto , a residential district in the Waterfront development.

Veneto will comprise 1,400 villas and townhouses, and 1,200 low-rise apartments to accommodate an eventual population of 14,000.

Making the best of the new set of circumstances is what Cirrus Developments has set out to do.

The company has just launched its second project, the Dh2 billion mixed-use Aquarius Gate

Goodman Sorouh, a joint venture specialising in development and management of business and logistics parks, is planning to announce its first project in Abu Dhabi before year-end, a senior company official said.

Landlords and tenants are both responsible for registering leasehold agreements with the RERA, a top official said.

Property agents in Dubai will now need to have knowledge about property laws, work ethics and even pass a test.

The company behind the development of towers named after sports legends Michael Schumaher, Boris Baker and Niki Lauda will invest in 20 projects across the UAE.

The second phase of the 715-hectare DWC Residential City at Dubai World Central (DWC), the 140-square kilometer urban land development under construction in Jebel Ali, will go on sale on Tuesday and Wednesday at Hotel Grand Hyatt.

The Dubai Land Department (DLP) has called on developers to commit to a law that prevents them from charging fees for property registration.

Dh16 billion is to be spent on developing new cities, roads and other infrastructure in the Northern Emirates.

The money has been allocated on the orders of the President His Highness Sheikh Khalifa bin Zayed Al Nahyan, Ruler of Abu Dhabi.

The days of illegal property brokers are numbered.

The government is introducing new official property transaction forms to weed out underground real estate agents.

The practice of real estate brokerage in Dubai is set to get tougher with the authorities planning to introduce compulsory exams for agents.The details of the model are still being worked on, but top government officials are confident that they would be able to introduce it soon enough.

Gulf States , flush with proceeds from record high oil prices, are officially racing to build the world’s tallest tower.

The Dubai property market has made unrivalled steps in the last ten years and is viewed by many as a leading player when it comes to real estate development and construction. As the market becomes more mature, new and innovative ways are being considered to sustain its remarkable growth.

A Dh55.5 million contract for the construction of Champions Tower II at Dubai Sport City was awarded to Al Sarh Contracting. Dubai based developer Memon Investments emphasized the importance of the timely completion of the project as it had already been delayed due to the late handover of land.

Developer and master planner Rakeen yesterday announced the construction of its apartment units within Bab Al Bahr on Al Marjan Islands is on schedule.

Equestrian community Escape has appointed Hyder ACLA as the master planner, De Leeuw Middle East as project quantity surveyors,

Asas Holding, a Dubai-based developer, is in talks with the Dubai Government to secure land to launch a Dh2 billion residential project along Al Ain Road, a top company executive said.

Tameer Holding Investment yesterday announced the pre-launch phase of its high-rise tower, Prestige Heights, in Sharjah.

Nakheel, one of the world’s largest privately held real estate developers, said the first building in its Discovery Garden development have been handed over to owners, ahead of schedule.