This week we learned that the commercial insurance unit of Warren Buffett’s Berkshire Hathaway has expanded into Dubai, after getting a license from the local regulator. Berkshire Hathaway Specialty Insurance Company (BHSI) established an office in the Dubai International Financial Centre (DIFC)

The press has also reported that there have been 1,600 new business registrations in January 2018 and that the number of active businesses in Dubai increased to 148,842 in 2017, including 19,877 new trade licenses issued in 2017, according to the Dubai Economy, the trade licensing body of Dubai Government.

These are some of the properties that we have been talking about this week:-

Dubai population nears three million people

The overall population living in the emirate of Dubai rose to average 3 million people by the end of 2017.

According to updated statistics released by the Dubai Statistical Centre, the population increased by 278,000 as per end of last December.

In more exact figures, the population of Dubai stood at 2,976,455 last December, increasing from 2,698,600 in December 2016.

The statistics center said that the population of Dubai had increased by an average 6.6% annually during the period from 2011 up to 2017.

BusinessSteven Leckie21 February 2018Dubai population, Dubai statistics, living in DubaiComment

50 per cent completion required before off-plan sales can begin in Dubai

Having to first reach the 50% construction mark will put pressure on smaller players.

Dubai’s developers may no longer be able to rush out with their off-plan sales — they will need their projects to reach the 50 per cent mark before they do so. The earlier requirement was for a project to be 20 per cent ready before sales could be launched.

The provision that developers must have paid off all the costs related to the land remains in effect. (The changes do not apply to government-owned real estate companies, according to informed sources.)

BusinessSteven Leckie20 February 2018off plan property, buy property in Dubai, Dubai property, Gulf News, UAE propertyComment

When property prices are no more in square feet

A new trend is becoming evident in the Dubai property market. Investors are placing more emphasis on the entry price of properties as opposed to the price per square foot. For instance, units that were previously advertised below Dh1,000 per sqft are being promoted as below Dh500,000 for studios or Dh1 million for one-beds to encourage takeup.

15 things to do in Dubai that are free (or cost next to nothing)

From films and fitness to fun days out and drinks that won’t cost you a dirham, we’ve rounded up some of the best free activities in Dubai…

Berkshire Hathaway's Insurance Arm Sets up Dubai Office

Warren Buffett’s Berkshire Hathaway Inc. (BRK.A.) is set to expand its commercial insurance business into the lucrative Middle East.

In a statement, Berkshire Hathaway Specialty Insurance (BHSI) said a new office in the Dubai International Finance Centre (DIFC) will now open after being given the go-ahead from the regulator. From its new home, specialty and commercial insurance will be provided to brokers and companies in construction, energy, marine, casualty and executive and professional lines.

BusinessSteven Leckie12 February 2018Berkshire Hathaway, Warren Buffet, Dubai trends, investing in DubaiComment

Bullet-Point Property: Dubai No. 65

1.27 million British people visited Dubai last year helping the city’s international visitor numbers grow to a new record as we inch closer to achieving a target ofwelcoming 20 million travellers annually by 2020

Many of those visitors arrive at the busiest international airport in the world but then leave immediately for Ras Al Khaimah (RAK), the fourth largest emirate in the UAE, who reported a growth of 19 percent in the overall number of tourists in 2017.

RAK is well on the way to welcoming One Million visitors by the end of this year, and you may be surprised to learn that half of those tourists are ex-pats and nationals living in the UAE. The hotels are often fully booked on the weekends, and there is a healthy demand for both temporary and permanent holiday homes from residents and their families looking to escape the city at weekends and during the school holidays.

Ras Al Khaimah is the perfect beach and desert escape, but with the recent opening of a world record-breaking zip line suspended 1,680 metres in the sky and reaching speeds close to 150 kilometres per hour, it is now the ‘go-to’ destination for adrenaline junkies in the Middle East.

PropertySteven Leckie9 February 2018RAK, tourism, buy property in Dubai, property in Dubai, Ras Al Khaima Dubai, UAE propertyComment

Dubai welcomed a record 15.8 million visitors last year

Emirate is on track to reach 20 million visitors by 2020.

Dubai’s international visitor numbers grew 6.2 per cent to a new record last year as the emirate inches closer to achieving its target of welcoming 20 million travellers annually by 2020, a government body said on Wednesday.

BusinessSteven Leckie7 February 2018travel, tourism, Dubai airport, Dubai tourism, Dubai newsComment

A view from the top: why Dubai is challenging its own record

In 2017 Dubai started laying the foundations for Dubai Creek Tower, which, at a planned height of 928 metres, will become the world’s tallest tower when it opens to the public in 2020. Given that the Emirate is already home to the world’s current tallest building, the Burj Khalifa, the desire to beat one’s own record could be considered curious. However, in the face of a competing project in Saudi Arabia, and rumoured projects in India and China, Dubai is not only working to pre-empt the snatching of its current, proudly held record, but continuing a strong history of developed nations trying to claim the biggest and the best – a history which has even resulted in an alleged fifteen design changes to the Empire State Building during its construction in the 1920s with the intention of stealing the title from the then tallest building in the world, the Chrysler Building. It has also lead to tricks such as increasing the height of antennas, resulting in the Council on Tall Buildings and Urban Habitat creating a myriad of different criteria by which to designate the height of a structure.

BusinessSteven Leckie6 February 2018high rise buildings, Burj Khalifa, Dubai tourism, Guinness World RecordComment

RAK visitor numbers up 19pc

Ras Al Khaimah, the fourth largest emirate in the UAE, reported a growth of 19 per cent in the overall number of tourists, with a substantial increase from emerging markets, said a report.

The UAE remains the most significant source market for tourism, accounting for almost half the visitors to Ras al-Khaimah in 2017, however, growth from international markets was also apparent, said a report in WAM.

BusinessSteven Leckie5 February 2018RAK, Dubai tourism, Dubai news, Dubai trends, Ras Al Khaima DubaiComment

The 10 busiest airports in the world

As Dubai clings on to its ranking as the world's busiest airport for international travel, here are the other top contenders.

Dubai International Airport has released its passenger statistics for 2017, which confirm it has held onto its position as the world’s busiest airport for international travel.

Some 88.2 million passengers passed through the airport last year, up from 83.6 million in 2016.

Dubai Airports CEO Paul Griffiths said he forecasts traveller numbers to swell to 90.3 million in 2018.

It first surpassed London Heathrow, previously the world’s busiest airport for international traffic, back in 2014 – and has kept the title ever since.

Here are the other contenders to the throne.

BusinessSteven Leckie5 February 2018busiest airport in the world, travel, tourism, Dubai, Emirates, Dubai airportComment

Bullet-Point Property: Dubai No. 64

Did you know that many Dubai locals and ex-pats include cycling as part of their fitness regime?

Dubai plans to have 500 km of dedicated cycle tracks within three years, andthese tracks will often connect with the major communities, in fact, all self-respecting master developers are incorporating a cycle track alongside or combined with a jogging track.

Perhaps we will soon claim the accolade of being the fittest city in the world

It was a slow week for new launches however it was a busy week for sales and rentals:-

PropertySteven Leckie4 February 2018off plan property, buy property in Dubai, Dubai property, property in Dubai, UAE propertyComment

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