News and Press

• State Intervention Urgently Required, Property Weekly

  Robin Teh, Director, Valuations & Research, Chesterton International LLC.

   

  In the past issue, we have written about what developers can do to boost demand for property. Of course with only developers tackling the issues of low demand and lack of confidence in the market will not be enough to move the market. Like elsewhere in the world, when faced with a recession of this magnitude, usually the government will have to step in to help the market reverse its negative trends.

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• Real estate sales in Sharjah 'virtually non-existent'

  Real estate sales in Sharjah are “virtually non-existent,” agents in the
  emirate have told Arabian Business. Kosta Giannopoulos, manager of residential sales and leasing at Better Homes Sharjah said “sales transactions were always fairly low as you couldn’t buy freehold.” While there are still a number of sales to GCC nationals, the market is now “virtually non-existent."
   

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• Burj Khalifa and its effect on the Dubai Property Market

  Robin Teh, Director, Valuations & Research, Chesterton International LLC.

   

  The spectacular opening of the world’s tallest building on 4th of January at the new decade brought about many thoughts to property investors. Many would like to believe that this will be a booster jab for the depressed property market, however many have also heard of cynical talks on more supply entering the already over supplied market. So what will be the effect of the Burj Khalifa on the wider Dubai Property market?

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• New Year- New Strategy

  Robin Teh, Director, Valuations & Research, Chesterton International LLC.

   

  In 2009, we have almost seen the disappearance of mortgage and development finance, lack of confidence in off plan developments, cancellation of projects and massive delays in master development delivery and international press having a field day condemning the demise of the Dubai Property Market. We have also witnessed a major entity like Dubai World almost failing to pay off its $4.2billion sukuk obligation. Of course, we have also seen how the emirates works to help each other with Abu Dhabi coming in the last hours to lend Dubai World $10billion to dissolve the Sukuk crisis.

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• Dubai And UK On Their Way Out Of International Property Slump: Says Chesterton

  UK property purchases around 43% cheaper compared to those made in 2007

   

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• Chesterton Links With St George – Amongst UK’s Most Prestigious Developers At Cityscape Dubai 2009

  Following the success of Cityscape Abu Dhabi, Chesterton, the international property agency established in 1805, will be showcasing its portfolio of exclusive residential properties and developments at this year’s Cityscape Dubai on 5-8 October 2009, held at the Dubai International Conference and Exhibition Centre.

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• Confidence Returning To The UAE: Says Chesterton

  Dubai, January 23rd, 2009: Chesterton, the international property agency established in 1805, believes confidence has returned to the UAE based on several economic indicators. The UAE Dirham has fluctuated between 5.5 and 6 to the Great Britain Sterling Pound, another key indicator is that the Brent Crude Oil Price (US$ per barrel) has seen a steady rise since May 2009 and has almost doubled in price.

   

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