Last Week in Real Estate – 27 October to 3 November
Another week has come to a close, and it’s time to look at the biggest and most important real estate stories of the last seven days. Here is what our talking points have been for the past week:
DEWA finalises 453 photovoltaic installations
As part of its Shams initiative (Dubai’s solar program), the good people at DEWA just announced having installed photovoltaic systems on the roofs on multiple buildings, such as Dubai World Centre – Al Maktoum International Airport.
Saeed Mohammed Al Tayer, Managing Director and C.E.O. of DEWA, stated: ‘Shams Dubai helps customers avoid using very expensive power storage systems by connecting the photovoltaic panels to the network. Furthermore, the surplus power will be exported to DEWA’s grid, which will be deducted from the customers’ future bill.’
Sobha group launches A new sub-community in much-talked-about Heartland
Mohammad Bin Rashid City’s SobhaEach of the villas in Gardenia will cost AED 8m and span more than 4,000 sq ft. A private lift, retractable glass, a private pool, and garden, are only some of the features. View villas already available for sale in Sobha Heartland.
Take a driverless shuttle to Dubai Mall, soon!
Even though it hasn’t happened yet, we should take the Dubai Road and Transport Authority RTA for thinking about making our life easier. Downtown Dubai is, without a doubt, one of the busiest destinations and, as such, not always the easiest to get to (nor is its parking the easiest to get out of).
The RTA-backed driverless shuttle service will take six or seven passengers along a 550-metre corridor, and do it fast.
Progress on Expo 2020 site nice and steady
Expo 2020 officials have revealed that the first pavilions at the site have risen above ground level – which means that it’s only a matter of months before we start to really see the project take shape!
new development targeting the british expat community set to launch
Spread over 33M sq.ft in the heart of Dubai, Azizi Developments is set to launch an AED 25B project of 30,000 homes (and other retail and lifestyle amenities) that will have a very British feel. Construction will start in November and the project is due to be finished by Expo 2020.
rent to own with zero interest in dubai
Based in Dubai, City Properties wants to convert renters to homeowners, with an enticing payment plan. Potential tenants simply pay 5% of the purchase price to book the property, 40% by handover (5% every quarter) and the remaining 60% is spread out over 10 years in monthly instalments – interest-free.
And that was the main UAE real estate news for the week of Oct 27-Nov 3rd. Now that you’re all caught up, why don’t you enjoy some of the many cool things happening in Dubai, check out our roundup of November events for more details!
Happy Friday!
