The latest UAE property stories:
Rera boss: Shoreline row is over
The ongoing dispute between residents on the Palm Jumeirah Shoreline and its developer Nakheel over plans to introduce annual membership fees for its beach clubs has been resolved, the head of RERA has told Arabian Business.
Dubai’s real estate watchdog has approved five homeowners associations on the luxury development, allowing them to appoint their own manager for the communal areas, residents said.
Arabianbusiness.com: Nakheel’s Palm Shoreline row is ‘sorted’, says Rera boss
Nakheel’s chief slams service fee dodgers
Master developer Nakheel has said that owners who are withholding service charges at its Shoreline Residences on Palm Jumeirah are not only flouting the law, but also damaging Dubai’s reputation.
“It is important for everyone to play their part. While the owners have rights, they also have certain obligations,” said Nakheel acting CEO Sanjay Manchanda at a media round table, Construction Week Online reported.
Arabianbusiness.com: Nakheel chief slams service fee dodgers
Emirates 24|7: Nakheel says 60-70% owners are service charge defaulters
More incentives for buyers in the capital
Discounted mortgages and offers such as “rent to own” are expected to become a growing feature of Abu Dhabi’s property landscape as developers compete to fill new homes coming into the market.
Such offers have been scarce in the capital as there were fewer foreign ownership opportunities and a chronic shortage of property to rent. But that is rapidly changing said one developer in Abu Dhabi.
The National: Incentives on rise for property buyers in Abu Dhabi
Work resumes on Marina 101
If you seek the proof then look aloft: the cranes are working again on Marina 101 in the northen end of the Dubai Marina which is already taller than the Empire State Building in New York. Only work on the even taller Pentominium tower is still stalled.
Arabian Money: Work resumes on Marina 101 to be Dubai’s tallest residential and hotel apartment tower
