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The United Arab Emirates will begin shortly begin issuing multiple-entry visas to foreign property owners.

From June 1 2009 an expatriate owning a property in the UAE will be able to obtain a multiple-entry visa that will be valid for six months.

A visa will cost AED 2000 and can be renewed provided the property owner leaves the UAE for at least one month.

Conditions include:

• The property must be worth at least AED 1 million
• The owner must have a monthly income of at least AED 10,000
• The owner must obtain the title of the property from the registration authority in the relevant emirate.

The visa does not give the holder the right to work.

Property prices in Dubai plummeted in the first quarter of 2009 according to a leading real estate advisor.

According to the Dubai House Price Index Q1 2009, published this week by Colliers International, property prices declined 41 percent between Q4 2008 and Q1 2009.

Prices have now dropped to the level experienced in the second quarter of 2007.

Results of government school inspections have been published for the first time.

The Dubai School Inspection Bureau (DSIB) carried out inspections of 69 public and private schools and published the results on the Knowledge and Human Development Authority’s website yesterday.

In summary:

• All of the public schools inspected were rated good or acceptable.
• Of the private schools inspected, 4 were rated outstanding and 6 unacceptable. Standards at other private schools were either good or acceptable.

The 4 private schools named as outstanding were the Jumeirah College, JESS (Jumeirah), JESS (Arabian Ranches), and Kings Dubai.

Dubai-based property developer Limitless has made 38 of its staff redundant (7%) and delayed the second phase of its Arabian Canal project.

The Arabian Canal is a 75 km man-made waterway and series of waterfront developments. It will run from the Dubai Waterfront at Jebel Ali, past the new Dubai World Central International Airport, and back towards the Palm Jumeirah.

The company will continue work on the first phase of the project, excavation of an 8 km stretch of waterway. The whole project is likely to be split into around 10 phases.

A new school at Dubai held its official launch yesterday.

Bradenton Preparatory Academy, based in the US, will open a school at Dubai Sports City in September 2009.

The school will offer an American College preparatory education and cater for 900 boys and girls from kindergarten to twelfth grade. Facilities include a performing arts centre, science labs, gym, and auditorium.

Initial registrations are now being taken.

The Bradenton Preparatory Academy in Florida was founded in 1975. It pioneered the concept of combining traditional education with elite sports training.

The launch was attended by Dr Rod Paige, the former US Education Secretary.

A new survey of foreign workers in the UAE has revealed that more than 40 percent are preparing to leave in the next year.

The poll, conducted by market researchers Real Opinions, reveals that almost 1 in 5 believe they may lose their job in the next year.

Foreign workers also expressed concerns with the high cost of living, in particular school fees and rents.

A report by HSBC reveals that real estate prices in Dubai have dropped 23 percent from their peak in September 2008. Prices for villas fell 30 percent, while apartments recorded a 20 percent drop.

Tenants renewing their rental contract in 2009 shall face no rent increases under a new law issued by His Highness Sheikh Mohammad Bin Rashid Al Maktoum, Vice President and Prime Minister of UAE.

The decree applies to contracts signed in 2008 for commercial and residential properties provided the rent in 2008 was equal to or up to 25 percent lower than the average market rate.

Emaar Education has opened 2 new nursery schools in Dubai.

The Raffles International School Nurseries are located in Downtown Burj Dubai and Emirates Hills (The Springs).

The schools will have an international team of teachers and non-teaching staff to reflect the cosmopolitan nature of the city.

All places at the nursery in Emirates Hills have been filled. Emaar Education is, however, currently accepting registrations for the next academic year.

A report by global financial services firm UBS predicts that the population of Dubai will fall by 8 percent in 2009 and 2 percent in 2010.

The vast majority of workers in Dubai are expatriates. Significant numbers are employed in the city’s troubled real estate and construction sectors.