RERA

Rent caps set to be maintained at 2009 levels

Dubai-His Highness Shaikh Mohammad Bin Rashid Al Moaktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has announced that the rent increase caps for 2010 remain at the same rates as 2009.

Endorsed by the Real Estate Regulatory Authority (RERA), the rent cap states the maximum increase in rent landlords can impose each year.
The 2010 figures have been formed following the trends shown in RERA’s latest rental index. It states that increases can only occur if the property is more than 25 per cent below the average index price.

If the rent is 26 per cent to 35 per cent less than the average rent for a similar property, the maximum increase will be equivalent to 5 per cent of the rent value of the year 2009.

Pattern

If the rent is 36 per cent to 45 per cent less than the average rent for a similar property, the maximum increase will be equivalent to 10 per cent of rent value of the year 2009.

If the rent is 46 per cent to 55 per cent less than the average rent for a similar property, the maximum increase will be equivalent to 15 per cent of rent value of the year 2009.

If the rent is less by a percentage that is more than 55 per cent of the average rent rate, a 20 per cent increase is permissible.
‘Positive move’

“I think the decision to keep the rental cap the same as 2009 is good as it keeps the market in the same condition and doesn’t have that much of an impact as of now.” Sudhir Kumar, managing director of Realtors International told Gulf News.

The decree was implemented to curb the sky-rocketing rents and to regulate relations between landlords and tenants.

“It’s a positive move because it shows that regulatory operations are taking charge. However, there should be more enforcement on the individual landlords who are still breaking the values of the caps and are not abiding to the decree. A closer eye should also be kept on the fluctuating prices with the rent cap keeping up to speed.” said Mohanad Al Wadiya, managing director of Harbor Real Estate.

Harbor Real Estate Partners with Prestige Advocates & Legal Consultants

Dubai, December 27, 2009 – Harbor Real Estate, an integrated Real Estate service provider in Dubai, announced the signing of a professional services agreement with Prestige Advocates & Legal Consultants, a leading global law firm, to provide counselling to all Harbor clients and representation in all legal matters concerning real estate in Dubai.

The profound perception of the industry and the daily interface with real estate clientele has resulted in the espousal of a fresh innovative legal counselling scheme. According to a recent study conducted by Harbor research division, the majority of people perceive legal counselling as an exorbitant service which leaves them with no alternative other than staying unaided and frustrated. For that reason, the innovative legal solution introduced by Harbor & Prestige is viewed as a results-driven method; customers who seek legal counselling will incur minimal fees and no extra charges will be required in case of not winning the case.

Mohanad Alwadiya, Managing Director of Harbor Real Estate commented: “Lawyers at Prestige are second to none in terms of knowledge and experience, both locally and internationally. The combined real estate experience of Harbor and Prestige and the comprehensive understanding of the wide array of Real Estate issues in the UAE enable us to provide clear candid counsel and guidance to clients at all times to ensure that their rights are always protected”

“The legal services introduction is vital as the real estate market matures through the current economic crisis to become a more structured and regulated market,” Said Dr, Ali Al Jarman, Legal Partner of Harbor and founder of Prestige. “One of the objectives we aim to achieve through this partnership is to increase the public’s understanding of the law’s procedures and implications which will eventually help reduce the number of cases filed and will boost the overall confidence in the market.”

According to sources from RERA, the number of cases filed in Q1 2009 has increased by 55% compared to Q4 of 2008. The drastic increase in the number of disputes is a result of many reasons ranging from investors not fulfilling their obligations, Sale & Purchase agreements containing provisions that contradict the law about developers not delivering projects on time, and many more.

Harbor Real Estate services have evolved from traditional real estate brokerage of merely bringing buyers and sellers together to innovative world class end-to-end real estate services. The company services include, Real Estate Tailored Research Services, Integrated Marketing Services, Sales, Leasing & Conversion Management Services, Real Estate Investment Portfolio Management Services and, Holistic Real Estate Legal Services.
—–END—–

About Harbor Real Estate

Harbor Real Estate Brokerage is a fully integrated real estate service provider based in Dubai and part of an established world class group of real estate companies since 2001. With a strong reputation and a veteran team with over 15 years of experience in the industry, Harbor Real Estate provides Real Estate Research Services, Integrated Sales & Marketing Services, Sales and Lead Conversion Management Services and Real Estate Investment Portfolio Management Services.

Having served over 5,000 satisfied customers, Harbor has an extensive clientele base that consists of public and private entities, major developers, private and institutional investors and owner-occupiers..
Harbor Real Estate brokerage has a dedicated team of realtors and consultants who are renowned for their expertise, high level of professionalism and insight into local and international markets. The company is committed to providing its customers world class service and innovative real estate solutions.

In 2009, Harbor Real Estate Brokerage established a quarterly real estate report “The Harbor Report”. This candid report covers the latest news, developments and trends in the real estate industry with an in-depth analysis of the latest topics and current affairs.

The Harbor Services include:
REAL ESTATE RESEARCH SERVICES: Harbor believes that fact-based analysis generated from insights emanating from market research is the prerequisite to recommendations and tailor-made solutions that provide optimum results for its clients. Harbor’s market knowledge, experience, industry research and research auditing expertise are proven.

INTEGRATED SALES & MARKETING SERVICES: Developers will benefit from Harbor’s innovative marketing, communication and consulting services. Developed by Harbor’s dedicated experienced marketing & sales professionals, tailor made strategies are formulated to allow developers to fully capitalize on whatever opportunities exist in the marketplace and drive above benchmark results.

SALES AND LEAD CONVERSION MANAGEMENT SERVICES: Harbor’s Sales and Lead Conversion Management process transforms the normally lengthy and complicated transactional procedure into a systematic and disciplined solution. This unique ground-breaking approach fuels greater returns for our clients.

REAL ESTATE INVESTMENT PORTFOLIO MANAGEMENT SERVICES: The Harbor Team consists of highly experienced and culturally diverse Realtors and consultants. The team prides itself in providing world class consultation services to investors of land, commercial and residential Real Estate in the UAE.

HOLISTIC REAL ESTATE LEGAL SERVICES: The Harbor professionally managed and certified legal arm offers the most experienced property legal services in the region. Its main offices are located in Dubai with associate offices in the GCC and Europe.

For further information, please contact:
Mohanad Alwadiya
Managing Director – Harbor Real Estate
Email: mohanad@harbordubai.com

Shatha Al Khatib
PR Account Manager – Harbor Communications
Mobile: +971 50 2908921
Phone: +971 4 325 1616
Email: shatha@harbordubai.com

Harbor Real Estate Partners with Prestige Advocates & Legal Consultants

Dubai, December 27, 2009 – Harbor Real Estate, an integrated Real Estate service provider in Dubai, announced the signing of a professional services agreement with Prestige Advocates & Legal Consultants, a leading global law firm, to provide counselling to all Harbor clients and representation in all legal matters concerning real estate in Dubai.

The profound perception of the industry and the daily interface with real estate clientele has resulted in the espousal of a fresh innovative legal counselling scheme. According to a recent study conducted by Harbor research division, the majority of people perceive legal counselling as an exorbitant service which leaves them with no alternative other than staying unaided and frustrated. For that reason, the innovative legal solution introduced by Harbor & Prestige is viewed as a results-driven method; customers who seek legal counselling will incur minimal fees and no extra charges will be required in case of not winning the case.

Mohanad Alwadiya, Managing Director of Harbor Real Estate commented: “Lawyers at Prestige are second to none in terms of knowledge and experience, both locally and internationally. The combined real estate experience of Harbor and Prestige and the comprehensive understanding of the wide array of Real Estate issues in the UAE enable us to provide clear candid counsel and guidance to clients at all times to ensure that their rights are always protected”
“The legal services introduction is vital as the real estate market matures through the current economic crisis to become a more structured and regulated market,” Said Dr, Ali Al Jarman, Legal Partner of Harbor and founder of Prestige. “One of the objectives we aim to achieve through this partnership is to increase the public’s understanding of the law’s procedures and implications which will eventually help reduce the number of cases filed and will boost the overall confidence in the market.”

According to sources from RERA, the number of cases filed in Q1 2009 has increased by 55% compared to Q4 of 2008. The drastic increase in the number of disputes is a result of many reasons ranging from investors not fulfilling their obligations, Sale & Purchase agreements containing provisions that contradict the law about developers not delivering projects on time, and many more.

Harbor Real Estate services have evolved from traditional real estate brokerage of merely bringing buyers and sellers together to innovative world class end-to-end real estate services. The company services include, Real Estate Tailored Research Services, Integrated Marketing Services, Sales, Leasing & Conversion Management Services, Real Estate Investment Portfolio Management Services and, Holistic Real Estate Legal Services.
—–END—–

About Harbor Real Estate

Harbor Real Estate Brokerage is a fully integrated real estate service provider based in Dubai and part of an established world class group of real estate companies since 2001. With a strong reputation and a veteran team with over 15 years of experience in the industry, Harbor Real Estate provides Real Estate Research Services, Integrated Sales & Marketing Services, Sales and Lead Conversion Management Services and Real Estate Investment Portfolio Management Services.

Having served over 5,000 satisfied customers, Harbor has an extensive clientele base that consists of public and private entities, major developers, private and institutional investors and owner-occupiers..
Harbor Real Estate brokerage has a dedicated team of realtors and consultants who are renowned for their expertise, high level of professionalism and insight into local and international markets. The company is committed to providing its customers world class service and innovative real estate solutions.

In 2009, Harbor Real Estate Brokerage established a quarterly real estate report “The Harbor Report”. This candid report covers the latest news, developments and trends in the real estate industry with an in-depth analysis of the latest topics and current affairs.

The Harbor Services include:
REAL ESTATE RESEARCH SERVICES: Harbor believes that fact-based analysis generated from insights emanating from market research is the prerequisite to recommendations and tailor-made solutions that provide optimum results for its clients. Harbor’s market knowledge, experience, industry research and research auditing expertise are proven.

INTEGRATED SALES & MARKETING SERVICES: Developers will benefit from Harbor’s innovative marketing, communication and consulting services. Developed by Harbor’s dedicated experienced marketing & sales professionals, tailor made strategies are formulated to allow developers to fully capitalize on whatever opportunities exist in the marketplace and drive above benchmark results.

SALES AND LEAD CONVERSION MANAGEMENT SERVICES: Harbor’s Sales and Lead Conversion Management process transforms the normally lengthy and complicated transactional procedure into a systematic and disciplined solution. This unique ground-breaking approach fuels greater returns for our clients.

REAL ESTATE INVESTMENT PORTFOLIO MANAGEMENT SERVICES: The Harbor Team consists of highly experienced and culturally diverse Realtors and consultants. The team prides itself in providing world class consultation services to investors of land, commercial and residential Real Estate in the UAE.

HOLISTIC REAL ESTATE LEGAL SERVICES: The Harbor professionally managed and certified legal arm offers the most experienced property legal services in the region. Its main offices are located in Dubai with associate offices in the GCC and Europe.

For further information, please contact:
Mohanad Alwadiya
Managing Director – Harbor Real Estate
Email: mohanad@harbordubai.com

Shatha Al Khatib
PR Account Manager – Harbor Communications
Mobile: +971 50 2908921
Phone: +971 4 325 1616
Email: shatha@harbordubai.com

Or visit:

www.harbordubai.com

Harbor Real Estate Partners with Prestige Advocates & Legal Consultants

Dubai, December 27, 2009 – Harbor Real Estate, an integrated Real Estate service provider in Dubai, announced the signing of a professional services agreement with Prestige Advocates & Legal Consultants, a leading global law firm, to provide counselling to all Harbor clients and representation in all legal matters concerning real estate in Dubai.

The profound perception of the industry and the daily interface with real estate clientele has resulted in the espousal of a fresh innovative legal counselling scheme. According to a recent study conducted by Harbor research division, the majority of people perceive legal counselling as an exorbitant service which leaves them with no alternative other than staying unaided and frustrated. For that reason, the innovative legal solution introduced by Harbor & Prestige is viewed as a results-driven method; customers who seek legal counselling will incur minimal fees and no extra charges will be required in case of not winning the case.

Mohanad Alwadiya, Managing Director of Harbor Real Estate commented: “Lawyers at Prestige are second to none in terms of knowledge and experience, both locally and internationally. The combined real estate experience of Harbor and Prestige and the comprehensive understanding of the wide array of Real Estate issues in the UAE enable us to provide clear candid counsel and guidance to clients at all times to ensure that their rights are always protected”

“The legal services introduction is vital as the real estate market matures through the current economic crisis to become a more structured and regulated market,” Said Dr, Ali Al Jarman, Legal Partner of Harbor and founder of Prestige. “One of the objectives we aim to achieve through this partnership is to increase the public’s understanding of the law’s procedures and implications which will eventually help reduce the number of cases filed and will boost the overall confidence in the market.”

According to sources from RERA, the number of cases filed in Q1 2009 has increased by 55% compared to Q4 of 2008. The drastic increase in the number of disputes is a result of many reasons ranging from investors not fulfilling their obligations, Sale & Purchase agreements containing provisions that contradict the law about developers not delivering projects on time, and many more.

Harbor Real Estate services have evolved from traditional real estate brokerage of merely bringing buyers and sellers together to innovative world class end-to-end real estate services. The company services include, Real Estate Tailored Research Services, Integrated Marketing Services, Sales, Leasing & Conversion Management Services, Real Estate Investment Portfolio Management Services and, Holistic Real Estate Legal Services.
—–END—–

About Harbor Real Estate

Harbor Real Estate Brokerage is a fully integrated real estate service provider based in Dubai and part of an established world class group of real estate companies since 2001. With a strong reputation and a veteran team with over 15 years of experience in the industry, Harbor Real Estate provides Real Estate Research Services, Integrated Sales & Marketing Services, Sales and Lead Conversion Management Services and Real Estate Investment Portfolio Management Services.

Having served over 5,000 satisfied customers, Harbor has an extensive clientele base that consists of public and private entities, major developers, private and institutional investors and owner-occupiers..
Harbor Real Estate brokerage has a dedicated team of realtors and consultants who are renowned for their expertise, high level of professionalism and insight into local and international markets. The company is committed to providing its customers world class service and innovative real estate solutions.

In 2009, Harbor Real Estate Brokerage established a quarterly real estate report “The Harbor Report”. This candid report covers the latest news, developments and trends in the real estate industry with an in-depth analysis of the latest topics and current affairs.

The Harbor Services include:
REAL ESTATE RESEARCH SERVICES: Harbor believes that fact-based analysis generated from insights emanating from market research is the prerequisite to recommendations and tailor-made solutions that provide optimum results for its clients. Harbor’s market knowledge, experience, industry research and research auditing expertise are proven.

INTEGRATED SALES & MARKETING SERVICES: Developers will benefit from Harbor’s innovative marketing, communication and consulting services. Developed by Harbor’s dedicated experienced marketing & sales professionals, tailor made strategies are formulated to allow developers to fully capitalize on whatever opportunities exist in the marketplace and drive above benchmark results.

SALES AND LEAD CONVERSION MANAGEMENT SERVICES: Harbor’s Sales and Lead Conversion Management process transforms the normally lengthy and complicated transactional procedure into a systematic and disciplined solution. This unique ground-breaking approach fuels greater returns for our clients.

REAL ESTATE INVESTMENT PORTFOLIO MANAGEMENT SERVICES: The Harbor Team consists of highly experienced and culturally diverse Realtors and consultants. The team prides itself in providing world class consultation services to investors of land, commercial and residential Real Estate in the UAE.

HOLISTIC REAL ESTATE LEGAL SERVICES: The Harbor professionally managed and certified legal arm offers the most experienced property legal services in the region. Its main offices are located in Dubai with associate offices in the GCC and Europe.

For further information, please contact:
Mohanad Alwadiya
Managing Director – Harbor Real Estate
Email: mohanad@harbordubai.com

Shatha Al Khatib
PR Account Manager – Harbor Communications
Mobile: +971 50 2908921
Phone: +971 4 325 1616
Email: shatha@harbordubai.com

Or visit:

www.harbordubai.com

Harbor Real Estate Partners with Prestige Advocates & Legal Consultants

Dubai, December 27, 2009 – Harbor Real Estate, an integrated Real Estate service provider in Dubai, announced the signing of a professional services agreement with Prestige Advocates & Legal Consultants, a leading global law firm, to provide counselling to all Harbor clients and representation in all legal matters concerning real estate in Dubai.

The profound perception of the industry and the daily interface with real estate clientele has resulted in the espousal of a fresh innovative legal counselling scheme. According to a recent study conducted by Harbor research division, the majority of people perceive legal counselling as an exorbitant service which leaves them with no alternative other than staying unaided and frustrated. For that reason, the innovative legal solution introduced by Harbor & Prestige is viewed as a results-driven method; customers who seek legal counselling will incur minimal fees and no extra charges will be required in case of not winning the case.

Mohanad Alwadiya, Managing Director of Harbor Real Estate commented: “Lawyers at Prestige are second to none in terms of knowledge and experience, both locally and internationally. The combined real estate experience of Harbor and Prestige and the comprehensive understanding of the wide array of Real Estate issues in the UAE enable us to provide clear candid counsel and guidance to clients at all times to ensure that their rights are always protected”

“The legal services introduction is vital as the real estate market matures through the current economic crisis to become a more structured and regulated market,” Said Dr, Ali Al Jarman, Legal Partner of Harbor and founder of Prestige. “One of the objectives we aim to achieve through this partnership is to increase the public’s understanding of the law’s procedures and implications which will eventually help reduce the number of cases filed and will boost the overall confidence in the market.”

According to sources from RERA, the number of cases filed in Q1 2009 has increased by 55% compared to Q4 of 2008. The drastic increase in the number of disputes is a result of many reasons ranging from investors not fulfilling their obligations, Sale & Purchase agreements containing provisions that contradict the law about developers not delivering projects on time, and many more.

Harbor Real Estate services have evolved from traditional real estate brokerage of merely bringing buyers and sellers together to innovative world class end-to-end real estate services. The company services include, Real Estate Tailored Research Services, Integrated Marketing Services, Sales, Leasing & Conversion Management Services, Real Estate Investment Portfolio Management Services and, Holistic Real Estate Legal Services.
—–END—–

About Harbor Real Estate

Harbor Real Estate Brokerage is a fully integrated real estate service provider based in Dubai and part of an established world class group of real estate companies since 2001. With a strong reputation and a veteran team with over 15 years of experience in the industry, Harbor Real Estate provides Real Estate Research Services, Integrated Sales & Marketing Services, Sales and Lead Conversion Management Services and Real Estate Investment Portfolio Management Services.

Having served over 5,000 satisfied customers, Harbor has an extensive clientele base that consists of public and private entities, major developers, private and institutional investors and owner-occupiers..
Harbor Real Estate brokerage has a dedicated team of realtors and consultants who are renowned for their expertise, high level of professionalism and insight into local and international markets. The company is committed to providing its customers world class service and innovative real estate solutions.

In 2009, Harbor Real Estate Brokerage established a quarterly real estate report “The Harbor Report”. This candid report covers the latest news, developments and trends in the real estate industry with an in-depth analysis of the latest topics and current affairs.

The Harbor Services include:
REAL ESTATE RESEARCH SERVICES: Harbor believes that fact-based analysis generated from insights emanating from market research is the prerequisite to recommendations and tailor-made solutions that provide optimum results for its clients. Harbor’s market knowledge, experience, industry research and research auditing expertise are proven.

INTEGRATED SALES & MARKETING SERVICES: Developers will benefit from Harbor’s innovative marketing, communication and consulting services. Developed by Harbor’s dedicated experienced marketing & sales professionals, tailor made strategies are formulated to allow developers to fully capitalize on whatever opportunities exist in the marketplace and drive above benchmark results.

SALES AND LEAD CONVERSION MANAGEMENT SERVICES: Harbor’s Sales and Lead Conversion Management process transforms the normally lengthy and complicated transactional procedure into a systematic and disciplined solution. This unique ground-breaking approach fuels greater returns for our clients.

REAL ESTATE INVESTMENT PORTFOLIO MANAGEMENT SERVICES: The Harbor Team consists of highly experienced and culturally diverse Realtors and consultants. The team prides itself in providing world class consultation services to investors of land, commercial and residential Real Estate in the UAE.

HOLISTIC REAL ESTATE LEGAL SERVICES: The Harbor professionally managed and certified legal arm offers the most experienced property legal services in the region. Its main offices are located in Dubai with associate offices in the GCC and Europe.

For further information, please contact:
Mohanad Alwadiya
Managing Director – Harbor Real Estate
Email: mohanad@harbordubai.com

Shatha Al Khatib
PR Account Manager – Harbor Communications
Mobile: +971 50 2908921
Phone: +971 4 325 1616
Email: shatha@harbordubai.com

or visit:

www.harbordubai.com