Browsing: real estate

Many Dubai residents are taking full advantage of the decline in rental rates. Whether you’re planning to upsize your home or save money by renegotiating your current rent with your landlord or moving to a cheaper home, it’s the ideal time to do so. But it isn’t always easy to figure out the most suitable option if you intend to save money on your annual rent. You have to consider a number of factors and crunch some number to make an informed decision. To make this decision easier for you, the experts at ServiceMarket, the UAE’s largest marketplace for moving services, have put together some guidelines

Savills, one of the world’s leading real estate advisors, has released its first comprehensive view of the United Arab Emirates, The UAE Property Report. According to the specialist report, the UAE Government’s increased investment into infrastructure, its commitment to diversifying the economy and positive regulatory changes have paved the way for economic recovery and growth.

Increased government spending and progress on giga-project developments provide a catalyst for future investment opportunities in Saudi Arabia, outlines JLL’s 2018 Year in Review report.

With stronger oil revenues and progress on new social reforms, GDP growth levels are expected to register 2.4% in 2018 according to Oxford Economics, up from -0.9% in 2017. 2019 is expected to witness ongoing activity on the back of the Kingdom’s largest ever expansionary budget (SAR 1 trillion in spending), and commitment to driving economic growth in line with Vision 2030’s objectives.

According to the latest Savills report, recent tourism growth in Saudi Arabia has been driven by three key demand pools – leisure, pilgrim and corporate visitors. Indeed, according to the most recent annual statistics, travel and tourism accounts for 9.4% of KSA’s total GDP, with traveller expenditure growing by 10.5% annually ($14.8bn). As the country diversifies its economy, in line with the Vision 2030 plans, international arrivals are due to increase on average by 4% per annum according to the World Travel and Tourism Council (WTTC), reaching figures of 22.1m by 2025.