Emaar Properties, the UAE's largest real estate developers by market capitalisation, said it will waive real estate registration fees and offer special payment plans on projects showcased at the government-backed Dubai Property Festival this week.
“We are supporting the event not only as its founding strategic partner but also offering a never-before incentive for our customers,” said Ahmad Al Matrooshi, managing director of Emaar Properties.
“They [investors] will have the opportunity to buy into some of Dubai’s most sought-after lifestyle destinations … in Dubai Creek Harbour, Downtown Dubai, Dubai Hills Estate, Emaar South, Emaar Beachfront, Arabian Ranches and Dubai Marina.”
The offer applies to Emaar schemes including Beach Vista and Sunrise Bay on the private island Emaar Beachfront project; Saffron, the first townhouse community in Emaar South close to Al Maktoum International Airport, and The Grand, a luxury residential community that is part of Dubai Creek Harbour.
Dubai’s real estate market has been subdued in the past two years, with sales and rental prices declining in most segments amid sluggish economic conditions and muted demand. However, analysts have predicted that the market could bottom out this year and witness a stronger investor sentiment on the back stabilising oil prices and a more buoyant business environment.
The Dubai Property Festival has been created by the Government of Dubai in partnership with the Dubai-based events company, International Property Show.
It is intended to promote the sale of completed and distressed properties across the emirate and attract more overseas investors, Sultan Bin Mejren, director-general of Dubai Land Department, told media at an event in January.
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“The festival will be instrumental in attracting and encouraging more buyers, providing them with access to new homes, and helping them obtain a comprehensive perspective of availability,” Mr bin Mejren said at the time.
The three-day expo will run from April 9 to 11 and include an auction of distressed real estate assets. Several UAE-based developers are offering discounts and other incentives to lure buyers, organisers said last week.
Emaar Properties, which last month entered into a strategic partnership with Abu Dhabi's Aldar Properties, said on Sunday it intends to waive property registration fees for both commercial and residential schemes it is building across the emirate, for the duration of the show.
“Waiving property registration fee and special payment plans brings added value for investors seeking to be part of Emaar’s prestigious developments in the city,” the developer said.
Other benefits on offer to Dubai Property Festival visitors include lower down-payment, free legal consultancy, zero processing fees and on-site approval by banks. There will also be a "brokers' village" presenting an inventory of exclusive deals.
The specs
Engine: 2-litre or 3-litre 4Motion all-wheel-drive Power: 250Nm (2-litre); 340 (3-litre) Torque: 450Nm Transmission: 8-speed automatic Starting price: From Dh212,000 On sale: Now
UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
RESULT
Los Angeles Galaxy 2 Manchester United 5
Galaxy: Dos Santos (79', 88')
United: Rashford (2', 20'), Fellaini (26'), Mkhitaryan (67'), Martial (72')
COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3ECompany%20name%3A%3C%2Fstrong%3E%20Revibe%20%0D%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202022%0D%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Hamza%20Iraqui%20and%20Abdessamad%20Ben%20Zakour%20%0D%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20UAE%20%0D%3Cbr%3E%3Cstrong%3EIndustry%3A%3C%2Fstrong%3E%20Refurbished%20electronics%20%0D%3Cbr%3E%3Cstrong%3EFunds%20raised%20so%20far%3A%3C%2Fstrong%3E%20%2410m%20%0D%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3EFlat6Labs%2C%20Resonance%20and%20various%20others%0D%3C%2Fp%3E%0A
Springtime in a Broken Mirror,
Mario Benedetti, Penguin Modern Classics
Concrete and Gold
Foo Fighters
RCA records
The specs: 2018 Opel Mokka X
Price, as tested: Dh84,000
Engine: 1.4L, four-cylinder turbo
Transmission: Six-speed auto
Power: 142hp at 4,900rpm
Torque: 200Nm at 1,850rpm
Fuel economy, combined: 6.5L / 100km
Champions parade (UAE timings)
7pm Gates open
8pm Deansgate stage showing starts
9pm Parade starts at Manchester Cathedral
9.45pm Parade ends at Peter Street
10pm City players on stage
11pm event ends
Our legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants
Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
Round 3: February 7-9, Dubai Autodrome – Dubai
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
COMPANY PROFILE
Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million
The specs
Engine: 2.0-litre 4-cyl turbo
Power: 201hp at 5,200rpm
Torque: 320Nm at 1,750-4,000rpm
Transmission: 6-speed auto
Fuel consumption: 8.7L/100km
Price: Dh133,900
On sale: now
Our family matters legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
Heather, the Totality
Matthew Weiner,
Canongate
Duterte Harry: Fire and Fury in the Philippines
Jonathan Miller, Scribe Publications
Start-up hopes to end Japan's love affair with cash
Across most of Asia, people pay for taxi rides, restaurant meals and merchandise with smartphone-readable barcodes — except in Japan, where cash still rules. Now, as the country’s biggest web companies race to dominate the payments market, one Tokyo-based startup says it has a fighting chance to win with its QR app.
Origami had a head start when it introduced a QR-code payment service in late 2015 and has since signed up fast-food chain KFC, Tokyo’s largest cab company Nihon Kotsu and convenience store operator Lawson. The company raised $66 million in September to expand nationwide and plans to more than double its staff of about 100 employees, says founder Yoshiki Yasui.
Origami is betting that stores, which until now relied on direct mail and email newsletters, will pay for the ability to reach customers on their smartphones. For example, a hair salon using Origami’s payment app would be able to send a message to past customers with a coupon for their next haircut.
Quick Response codes, the dotted squares that can be read by smartphone cameras, were invented in the 1990s by a unit of Toyota Motor to track automotive parts. But when the Japanese pioneered digital payments almost two decades ago with contactless cards for train fares, they chose the so-called near-field communications technology. The high cost of rolling out NFC payments, convenient ATMs and a culture where lost wallets are often returned have all been cited as reasons why cash remains king in the archipelago. In China, however, QR codes dominate.
Cashless payments, which includes credit cards, accounted for just 20 per cent of total consumer spending in Japan during 2016, compared with 60 per cent in China and 89 per cent in South Korea, according to a report by the Bank of Japan.
The specs: 2018 Chevrolet Trailblazer
Price, base / as tested Dh99,000 / Dh132,000
Engine 3.6L V6
Transmission: Six-speed automatic
Power 275hp @ 6,000rpm
Torque 350Nm @ 3,700rpm
Fuel economy combined 12.2L / 100km
