A new property law in the United Arab Emirates allows foreigners to own real estate in the small Middle Eastern country on the Arabian Gulf.The law, which legalizes freehold ownership of land and property in the UAE, permits even expatriates the same rights as UAE and Gulf Cooperation Council citizens. Hashem Al Dabbal, chief executive of Dubai Properties, hailed the change at MIPIM in Cannes, France, saying it will have an immediate impact by attracting a new set of international investors into the city-state, "We see the new law as further support to the growing confidence in Dubai's market, and solidifies its position as a viable investment opportunity." The law "opens so many doors to so many" who have been eyeing Dubai's fabulous real estate from afar, he said. "Now there is clarity in terms of the legal framework of freehold ownership for foreigners."
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House Republicans overcame internal divisions to narrowly pass President Trump's tax and spending package Thursday afternoon. The measure would cut the Consumer Financial Protection Bureau's funding level, among other provisions.
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A labor shortage is costing the market tens of thousands of new homes per year, and tariff uncertainty is adding thousands of dollars in expenses per unit.
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The pace of revenue growth slowed toward the end of 2024, with the trend continuing into the first three months of this year, NAHB reported.
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Capital One closed the deal to buy the credit card provider in May and as part of the review process, decided to exit its home equity lending business.
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The 10 basis point decline in the 30-year fixed mortgage was the most since March and the first time rates are below 6.7% since April, Freddie Mac said.
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The firm, now going by Fairway Home Mortgage, said the change is a representation of plans to create a "connected ecosystem."
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