• About Us
  • Archives
  • SWG Registration
Samrack Media
Mahiga Homes
  • Home
  • ALL NEWS
  • Diaspora
  • Africa
    • AFRICA
    • KENYA
  • BUSINESS
    • BUSINESS
    • INVESTMENTS
    • REAL ESTATE
    • TECHNOLOGY
  • Politics
  • Health
    • HEALTH
    • EDUCATION
  • Religion
  • People
    • PEOPLE
    • LIFESTYLE
    • RELATIONSHIPS
  • Obituaries
  • Videos
  • Events
No Result
View All Result
  • Home
  • ALL NEWS
  • Diaspora
  • Africa
    • AFRICA
    • KENYA
  • BUSINESS
    • BUSINESS
    • INVESTMENTS
    • REAL ESTATE
    • TECHNOLOGY
  • Politics
  • Health
    • HEALTH
    • EDUCATION
  • Religion
  • People
    • PEOPLE
    • LIFESTYLE
    • RELATIONSHIPS
  • Obituaries
  • Videos
  • Events
No Result
View All Result
Samrack Media
No Result
View All Result

Dubai developers unveil mega projects despite downturn

samrack by samrack
September 12, 2017
in Business, Diaspora, Kenya, Kenya Diaspora News, News, U.S Diaspora
A A
0
Dubai developers unveil mega projects despite downturn
Share this
FacebookTwitterPinterestEmailWhatsAppLinkedIn

Dubai developers unveil mega projects despite downturn

Dubai, United Arab Emirates | AFP | The $680 million Venice development four kilometres (2.5 miles) off Dubai will have capacity of 3,000 visitors.

Real estate is a mainstay in Dubai which has the most diversified economy in the oil-rich Gulf, with oil sales bringing in under 10 percent of state revenues.

Dubai first became a magnet for property investment when it opened the sector to foreigners in 2002, in a region where freehold ownership is often restricted to nationals.

The emirate’s property market surged at breakneck speed until the global financial crisis hit debt-laden Dubai in 2009, sending prices into free-fall.

A recovery led by tourism, trade and transportation pushed prices up again between 2012 and 2014.

But the market has seen prices fall again since 2014 for both rents and sales as demand dropped following the slump in oil prices and weak economic growth.

“Over the past three years, prices have dropped by 14 percent and we are now 30 percent lower than in 2008,” Faisal Durrani of Cluttons, an international property services and research agency, told AFP.

But he said Expo 2020, the international mega exhibition which Dubai is hosting, is expected to drive a comeback.

He said Expo is expected to generate as many as 300,000 jobs by 2020, creating more demand for real estate.

Dubai-based real estate services firm Asteco said apartment prices fell seven percent year on year in the first half of 2017.

“We do not expect the market to recover until economic sentiment improves in line with increased government spending, further implementation of diversification strategies and the anticipated gradual rise in oil prices,” Asteco managing director John Stevens said in a report.

Source:https://www.independent.co.ug/

Tags: Dubai developers unveil mega projects despite downturn
Previous Post

Kuria, Muthama due in court after night in cells

Next Post

Kenya tops digital, financial inclusion

Related Posts

Azimio Leader Raila Odinga leading the "People's Baraza" in Nakuru Town on March 17, 2023.
News

Raila Odinga’s secret cards for mass action

March 19, 2023
President William Ruto. Image: PCS
News

I will not allow you to terrorise Kenyans, Ruto tells Raila

March 19, 2023
Transition /Death Announcement of Joseph Karanja Gaturu (Mr. Karanja) father to Esther Macharia & father in-law to James Macharia Matu of Lowell, Massachusetts
Diaspora

Transition /Death Announcement of Joseph Karanja Gaturu (Mr. Karanja) father to Esther Macharia & father in-law to James Macharia Matu of Lowell, Massachusetts

March 19, 2023
URGENT COMMUNITY APPEAL : FOUR KENYANS ESCAPE A FIRE TRAGEDY IN MALDEN, MASSACHUSETTS
Africa

URGENT COMMUNITY APPEAL : FOUR KENYANS ESCAPE A FIRE TRAGEDY IN MALDEN, MASSACHUSETTS

March 11, 2023
Ireland-Based Kenyan Businessman Seeks Justice After His Sh55 Million Property Was Demolished

Ireland-Based Kenyan Businessman Seeks Justice After His Sh55 Million Property Was Demolished

March 10, 2023
Jeff Mwathi (left) was buried (inset) in Nakuru County on March 3, 2023, after dying outside Kikuyu entertainer, DJ Fatxo's house in Nairobi.
News

DJ Fatxo speaks: ‘Justice will prevail’

March 10, 2023
Next Post
Kenya tops digital, financial inclusion

Kenya tops digital, financial inclusion

Please login to join discussion
ADVERTISEMENT
ADVERTISEMENT
Royal Gardens Ngong Royal Gardens Ngong Royal Gardens Ngong
ADVERTISEMENT
KIBS VILLA HOMES:(ABNB) Relax into Luxury: Monthly ABNB rates are negotiable Call:508-479-1517 / 254714428680 KIBS VILLA HOMES:(ABNB) Relax into Luxury: Monthly ABNB rates are negotiable Call:508-479-1517 / 254714428680 KIBS VILLA HOMES:(ABNB) Relax into Luxury: Monthly ABNB rates are negotiable Call:508-479-1517 / 254714428680
ADVERTISEMENT

Latest News

Raila Odinga’s secret cards for mass action

I will not allow you to terrorise Kenyans, Ruto tells Raila

Transition /Death Announcement of Joseph Karanja Gaturu (Mr. Karanja) father to Esther Macharia & father in-law to James Macharia Matu of Lowell, Massachusetts

URGENT COMMUNITY APPEAL : FOUR KENYANS ESCAPE A FIRE TRAGEDY IN MALDEN, MASSACHUSETTS

Ireland-Based Kenyan Businessman Seeks Justice After His Sh55 Million Property Was Demolished

DJ Fatxo speaks: ‘Justice will prevail’

[PHOTOS] Dramatic scenes during Kisumu demonstrations

Raila names Safaricom among companies listed for boycott

Ex-Nyandarua governor Waithaka, 5 others have case to answer in graft case

Transition/Death Announcement of Beatrice Njeri Njagi (mother to Pastor Catherine Ulanga and Mother in law to Pastor Charles Ulanga Mwele of Christ is the Answer church – (CITAC)

We are grateful for your monthly or one-off donations To Samrack Media: Cash App No: 781-888-8770 $SAMRACK001

Money

New Digital Skills Helps Unemployed Kenyan Youth Earn In Cryptocurrency

New Digital Skills Helps Unemployed Kenyan Youth Earn In Cryptocurrency

by samrack
November 19, 2021
0

New Digital Skills Helps Unemployed Kenyan Youth Earn In Cryptocurrency This week sees the launch of a new initiative to equip...

A simple guide to Government Bonds investing in Kenya

A simple guide to Government Bonds investing in Kenya

by samrack
September 17, 2021
0

A simple guide to Government Bonds investing in Kenya A treasury bond (T-bond) is a medium term to long term...

Politics

Kisumu residents stage protests over high cost of living in Kisumu on March 10. Image: DANIEL OGENDO

[PHOTOS] Dramatic scenes during Kisumu demonstrations

by samrack
March 10, 2023
0

Dramatic scenes during Kisumu demonstrations The protesters are seen negotiating with police to allow them to demonstrate. They held...

Azimio leaders at Migori rally on Friday, March 10, 2023 Image: JAMES ORENGO/TWITTER

Raila names Safaricom among companies listed for boycott

by samrack
March 10, 2023
0

Raila names Safaricom among companies listed for boycott He said his call for mass action and demonstrations which will culminate...

  • About Us
  • Archives
  • SWG Registration

© 2023 SAMRACK - Diaspora News & Updates; design by: Samrack.

No Result
View All Result
  • Home
  • ALL NEWS
  • Diaspora
  • Africa
    • AFRICA
    • KENYA
  • BUSINESS
    • BUSINESS
    • INVESTMENTS
    • REAL ESTATE
    • TECHNOLOGY
  • Politics
  • Health
    • HEALTH
    • EDUCATION
  • Religion
  • People
    • PEOPLE
    • LIFESTYLE
    • RELATIONSHIPS
  • Obituaries
  • Videos
  • Events

© 2023 SAMRACK - Diaspora News & Updates; design by: Samrack.

Page generated in 1.066 seconds. Stats plugin by www.blog.ca