UAE among top construction markets in GCC

15.01.2015
The UAE is the second most expensive market to engage in construction activity among Gulf states, with Qatar being the costliest, according to a new survey by the specialist consultancy EC Harris.
The UAE is the second most expensive market to engage in construction activity among Gulf states, with Qatar being the costliest, according to a new survey by the specialist consultancy EC Harris. Gulf News reported that the stream of new projects set to emerge from the pipeline this year would have been enough to set off an inflationary spiral but changes in oil prices has altered the picture. “Abu Dhabi is best placed to be able to continue to fund budget commitments … but with oil trading hovering around $50 a barrel earlier this month, it is possible that current and capital spending priorities may come under review,” said Christopher Seymour, partner and head of UAE Property at EC Harris. “Investment on social infrastructure, (on) economic diversification and event-driven construction are three key trends positively influencing construction spend in the region.”

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Lease process (Rent out)

1 hour

Contract of the lessee and agency.

Required documents:

  • copy of the passport
  • copy of the certificate of ownership

1 day

Ad placement:

  • 20 real estate portals;
  • client base of the agency;
  • profile exhibitions, etc.

Up to 2 days

Signing of the lease agreement

Expenses of the seller:

None

Additional services:

Property management

Lease process (Rent)

1 hour

Contract of the lessee and agency.

Up to 5 days

Real estate search.

Selection of optimal options.

Up to 2 days

Signing of the lease agreement

Expenses of the lessee:

-5% agency commission of the annual contract price

Additional services:

None

Purchase process

1 hour

Contract of the tenant and agency.

~ 2 weeks secondary

~ 3 weeks new building

Property Selection

Selection of optimal options

1 Week

Registration of the contract of purchase / sale

Customer charges:

  • 2% from purchase at transaction
  • 4% - registration of the transaction at registration

Additional services:

Property management

Sales Process

1 hour

Contract of the lessee and agency.

Required documents:

  • copy of the passport
  • copy of the certificate of ownership

1 day

Ad placement:

  • 20 real estate portals;
  • client base of the agency;
  • profile exhibitions, etc.

Up to 2 days

Signing of the lease agreement

Expenses of the seller:

None

Additional services:

None

the management process

1 hour

Contract of the owner and agency

1 year

Rendering of management services

1 day

Reporting

Expenses of the owner:

5% of the annual rental price

Additional services:

None

Investment Process

1 hour

Contract of the tenant and agency.

From 3 days

Selection of optimal investment options

1 Week

Registration of the contract of purchase / sale

Expenses of the investor:

  • 2% when investing in the secondary market
  • 0% when investing in a new building
  • 4% - registration

Additional services:

Property management