Burj Khalifa developer’s shares flop on market debut
Dubai’s biggest IPO in years raised $1.3 billion when the shares were priced on Nov. 2.
Then came the news of a surprise anti-corruption sweep in neighboring Saudi Arabia that included the arrests of dozens of princes, officials and high-profile businessmen, including global investor Prince Alwaleed bin Talal.
The Dubai stock market — the most active in the Gulf region after Saudi Arabia – posted losses for four straight days following the arrests and has fallen about 5% since the start of November.
Investors have also been shaken by rising tension between Saudi Arabia and Iran. Saudi officials described a failed missile attack on Riyadh airport by Iran-backed rebels in Yemen on Nov. 4 as an act of war by Tehran.
Source: CNN Money.
Expat Indians only too willing to snap up property back home
A survey by the promoters of Indian Property Show shows a rise of 59 per cent in such prospective buyer support compared to June this year.
And 13 per cent want to buy immediately as opposed to only 8.15 per cent in June; whereas 35 per cent are keen on buying within next three months itself. In all, 70 per cent of those polled have shown interest in buying in India within next six months.
Source: Gulf News
Azizi starts work on 105-building community
Source: Gulf News
Dubizzle records rising demand for housing priced below Dh1,000/sq ft
The proportion of dubizzle.com searches for mid-market properties – those cheaper than Dh1,000 per square foot – increased to 66 per cent of all property searches on the platform in September 2017, up from 42 per cent in September 2016, according to dubizzle.com and property consultancy JLL’s End of Year Property Report focusing on the Dubai residential market.
Mid-market properties accounted for 57 per cent of all property advertisements on dubizzle.com during the month, compared to 52 per cent last September, the report added.
Source: The National