Property sale prices in Dubai have fallen by around 12 per cent in the last two years.
That's according to the latest Property Finder Trends report, which revealed that apartment sale prices in the first half of this year dropped by 11.7 per cent when compared to 2017.
Meanwhile, villas prices are down 12.1 per cent over the same period, with the report finding that some of the higher value, older luxury villa communities have not performed as well as newer, more affordable projects.
Al Sufouh, Remraam and Downtown Dubai witnessed the biggest sale price drops for apartments during the first six months of 2019, with areas such as Mirdif and Jumeirah Village Triangle showing the greatest resilience.
Communities like Damac Hills and Emirates Hills saw the largest declines for villas, while Dubai South and Town Square were among the most popular areas for new affordable, off-plan offerings.
Dubai's TECOM Group has announced a 15 per cent year-on year (YoY) growth in net profit to AED 293 million for the three month period ended March 31, 2024.
Sony Pictures Entertainment (SPE) and Apollo Global Management APO.N have made a $26 billion cash offer for Paramount Global, the Wall Street Journal reported.
Changpeng Zhao, the former chief executive of Binance has been sentenced to four months in prison after pleading guilty to violating US laws against money laundering at the world's largest cryptocurrency exchange.
Emirates Airline has announced significant changes to its pilot recruitment strategy, which includes higher salaries, new roles and a radical change to eligibility.
Submissions have opened for the first edition of a major initiative to honour food establishments in Dubai for their excellence in standards for safety, nutrition, sustainability and social responsibility.