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Dubai property transactions decline in 2018; Indians second highest investors

coastaldigest.com web desk
July 8, 2018

Dubai, Jul 8: The property transactions in Dubai in the first half of 2018 has seen approximately 16 per cent decline compared to the same period a year ago. According to Dubai Land Department (DLD), overall property transactions in Dubai totalled Dh111 billion from January to June this year. This was done through 27,642 transactions.

The Land Department numbers represent properties and plots sold across Dubai. Overall property transactions in Dubai totalled Dh132 billion in the first half of 2017 and Dh113 billion in the first six months of 2016.

According to Hussain Alladin, head of IR and research at Global Capital Partners, the reduction in property transactions in the first half of 2018 come as off-plan transactions recorded a drop after the torrid pace set in 2017. The reason for the decline in off-plan transactions has been a combination of fewer developer launches as well as somewhat of a pullback of developer incentives that were the rage in 2017.

In the first six months, Business Bay and Dubai Marina were the leaders in terms of investor picks, accounting for 1,934 and 1,445 transactions, while the Al Merkadh neighbourhood had 1,262 deals. In terms of value too, Business Bay reigned, with its transactions accounting for a sizeable Dh4.2 billion. Dubai Marina was placed second with Dh2.9 billion worth of transactions and Dh2.1 billion for Al Merkadh.

While Emirati investors ranked first in both the number and value of transactions - being involved in 2,986 transactions worth Dh6.8 billion - Indian nationals came in second with 3,218 transactions at Dh5.9 billion. This was followed by Saudis whose investments were worth almost Dh3.7 billion through 1,415 investments. The list of top 10 investors by nationality also included Dubai residents from Britain, Pakistan, China, Egypt, Jordan and France.

The investments put in by Gulf nationals exceeded Dh11.6 billion through 4,919 transactions. Arab investors concluded 2,561 transactions worth more than Dh4.115 billion. The value of properties registered by female investors reached Dh9 billion through 5,526 transactions.

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Agencies
February 10,2020

New Delhi, Feb 10: After an hour-long standoff between the security forces and the students on Monday, the police resorted to a lathi-charge on the protesters near Holy Family hospital which is within walking distance of Jamia Millia Islamia.

A scuffle ensued when police confronted the protesters who tried to push forward towards Parliament. The lathi-charge was made to push back the protesters.

In the melee that ensued, many from both sides fainted.

Some security forces personnel resorted to the lathi-charge while others pushed back the protesters when they threw water pouches at the security forces and abused them.

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News Network
January 17,2020

Jan 17: President Ram Nath Kovind, on Friday, dismissed Nirbhaya convict Mukesh Singh's mercy petition, according to multiple media reports.

Mukesh Singh - one of the four convicts in the Nirbhaya gang rape and murder case had filed a mercy petition on Tuesday after Supreme Court dismissed curative petitions filed by him and Vinay Sharma (another convict).

More to follow

 

MHA forwards mercy petition of Nirbhaya convict to President; recommends rejection

New Delhi, Jan 17: The Union Home Ministry on Friday forwarded to President Ram Nath Kovind the mercy petition of one of the convicts in the Nirbhaya gangrape case, recommending its rejection, officials said.

Mukesh Singh, one of the four death row convicts in the 2012 Nirbhaya gangrape and murder case, had filed the mercy petition a few days ago.

"The Home Ministry has forwarded the mercy petition of Mukesh Singh to the President. The ministry has reiterated the recommendation of the Lieutenant Governor of Delhi for its rejection," the official said.

The Delhi LG had sent the mercy petition of Mukesh to the Home Ministry on Thursday, a day after the Delhi government recommended its rejection.

The four convicts -- Mukesh Singh (32), Vinay Sharma (26), Akshay Kumar Singh (31) and Pawan Gupta (25) were to be hanged on January 22 at 7 am in Tihar Jail. A Delhi court had issued their death warrants on January 7.

However, the Delhi government had informed the high court during a hearing that execution of the convicts will not take place on January 22 as a mercy plea has been filed by Mukesh.

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Agencies
May 22,2020

Riyadh, May 22: The family of murdered Saudi journalist Jamal Khashoggi on Friday said that they forgave his killers. Washington Post journalist Jamal Khashoggi, who had written columns critical of Saudi Arabia, was brutally killed in October 2018, allegedly at the behest of Crown Prince Mohammad bin Salman.

“In this blessed night of the blessed month [of Ramadan] we remember God’s saying: If a person forgives and makes reconciliation, his reward is due from Allah,” Jamal Khashoggi’s son Salah Khashoggi said in a tweet. “Therefore, we the sons of the Martyr Jamal Khashoggi announce that we pardon those who killed our father, seeking reward [from] God almighty.”

The legal outcome of this announcement is not yet clear. Earlier, Salah Khashoggi said he had “full confidence” in the judicial system, and that the accused were trying to exploit the case.

Jamal Khashoggi’s body was said to have been dismembered inside the Saudi consulate in Istanbul and disposed of elsewhere, but his remains were never found.

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