Dubai luxury property developer Damac announced a 202 percent increase in profit for 2013.
Home prices in Israel are about 25 percent higher than their historical averages.
The property market in the United Arab Emirates appears to be in fast recovery, with prices in Dubai growing by as much as 20 to 30 percent in 2013. While this has led to concerns of a returning bubble, the market is "smarter and more measured this time around"
Emaar Properties received an investment grade rating for the first time in four years, seen as the latest sign of the Dubai property market recovery.
Dubai-based real estate developer Union Properties reported its net profit increased more than eightfold in 2013. The company's net profit jumped to Dhs1.58 billion ($430.2 million) last year from Dhs175.8 million in 2012, Reuters reports.
Luxury home prices in Dubai increased by the slowest pace in more than a year in the last quarter of 2013, amid a "flurry" of cooling measures introduced in the final months of 2013, according to a new report.
According to the "Facts about Omani households" report released recently by the National Centre for Statistics & Information, the average monthly Omani household income has risen from $1,660 in 2000 to $3,050 in 2011.
Dubai home values increased more than 30 percent last year, stirring concerns of a bubble burst repeat. Taking a proactive stance, Dubai is planning to implement new rules to control speculation on properties sold before they are built.
Nakheel, one of Dubai's leading developers, will pay more than half of its bank debt of AED6.8 billion ($1.9 billion) one year before its first due date, according to a company announcement. The company plans to pay AED 2.35 billion during the first quarter of 2014.
Almost four years after its completion, residential values in the world's tallest building, the Burj Khalifa, are proof of sustainable market growth, according to consulting firm Cluttons. Since 2010, values in the Dubai building have grown 13.6 percent.
Dubai's prime residential property is forecast to record the world's highest growth in prices in 2014, according to Knight Frank's global forecast. In 2013, Dubai posted the largest increase in luxury property prices, growing by 20 percent.
In the wake of the financial crisis, which caused residential schemes to stall across Abu Dhabi and the rest of the UAE, some developments have recently resumed construction activity, with a slow trickle of units starting to gather pace.
With Dubai's real estate market benefitting tremendously from the improved economic conditions, tenant demand has once again begun to ripple across the border into Sharjah, Dubai's northern neighbor and the United Arab Emirates' third largest state.
Average capital values of residential property in Dubai were 53 percent higher in the third quarter, compared to last year, according to a report from consulting firm Cluttons. Capital values are still 26 percent below the market peak in the third quarter of 2008.
The government of Dubai has launched a real estate portal for both public and private property in an effort to make the market more "transparent and credible." The eMart site is one of the first of its kind operated by a government agency.
Dubai offers the best lifestyle factors for people looking to relocate or invest, according to a global lifestyle report from Knight Frank. Based on lifestyle factors, Dubai topped the list with the highest mark in three of the four categories.
The Central Bank of the United Arab Emirates issued new rules this week for mortgages, hoping to limit the flow of financing that helped create the property boom-and-bust cycle in Dubai. Mortgages for property valued at less than 5 million dirhams will be capped.
The Cityscape Global property show opens in Dubai Tuesday amid a wave of flashy project announcements and concerns that a new bubble is forming in UAE real estate. The show experienced steep drops in attendance and interest in the wake of the post-2008 market collapse.
Reports of Dubai home prices jumping more than 30 percent in the last year are raising concerns that a bubble is forming in the property market. The growth in residential prices is "indeed unsustainable," Jones Lang LaSalle argues in a new report.
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