Developers Miral in Abu Dhabi and Neom in Saudi Arabia have made big announcements on new construction projects. Miral has secured investment from a Singapore-based company for its 108,600 square metre Yas Village development on Yas Island and Saudi Arabia’s Neom has awarded contracts to two companies to build a village that will accommodate up to 30,000 workers who will build the futuristic city of the same name.

 

Host and Assistant Editor in Chief at The National, Mustafa Alrawi speaks to Assistant Business Editor, Michael Fahy about the announcements and what they mean for the property markets in the GCC neighbours.

 

Meanwhile rental rates have been falling in the UAE capital this quarter with large drops since this time last year and Emaar properties in Dubai have asked property owners to stop renting out their units as holiday homes on the same day they have launched their digital platform for short term rentals. 

 

In this episode: 

- New construction projects (0m 43s)

- Abu Dhabi rent (1m 37s)

- Emaar’s short term rentals (15m 32s)

- Headlines (22m 03s)

 

Read more on our website:

• Saudi Arabia's Neom signs deals with contractors for construction village

• Miral secures backing for Yas Village scheme

• Aldar to sell residential land plots on Saadiyat Island

• Where Abu Dhabi rents have risen and fallen, Q2 2019

• Emaar bans holiday home operators in Downtown as it ventures into short-term rental market