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Friday, October 10, 2008
The UAE is one of the best performing markets for real estate investments, according to Peter Riddoch, CEO, Damac. “In line with this belief, Damac has announced the launch of ‘Executive Suites’ – a serviced office tower on the third day at Cityscape Dubai by assuring a 40 per cent rental return guarantee over three years for the project,” he stated. Speaking at the launch, Peter Riddoch, CEO, ... more
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Friday, October 10, 2008
Aristocrat Star Investments, a UK-based real estate, retail and manufacturing conglomerate, launched a Dh5 billion mixed-used development in Dubai. The Royal Estates community, targeted at the high-end market, is spread over 3.5 million square feet and located in the Dubai Investment Park. The hospitality aspect of the development will include a Dh180 million hotel and hotel apartments worth Dh... more
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Friday, October 10, 2008
Dubai-based ACI Real Estate has launched a Dhs3bn tennis academy and resort in the UAE emirate of Ras Al Khaimah along with tennis legend Boris Becker, who holds a 50% partnership in the academy and part ownership in the rest of the resort. The Boris Becker Beach Resort and Tennis Academy is ACI's first hotel project and Becker's first tennis academy that he will co-own. The resort will also ha... more
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Wednesday, October 08, 2008
Dubai DIFC Investments, the investment arm of the Dubai International Financial Centre (DIFC), has announced that it has invested more than Dhs3bn ($817m) in the Dubai Pearl project. The investment was made through DIFC Investments' real estate fund, which was launched recently to tap into the booming property sector in Dubai and the UAE. The multi-billion dirham fund seeks to create a portfoli... more
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Wednesday, October 08, 2008
Dubai: Rufi Real Estate and Construction Co launched a Dh960 million residential tower on Tuesday at Cityscape Dubai. Luxury Heights, located at the Waterfront, will have 50 floors with a total built up area of 700,000 square feet. Mehrooz Manzoor Rufi, director of Rufi Real Estate and Construction Co, spoke to Gulf News about the features of the tower. This will be a landmark project at the Wa... more
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Wednesday, October 08, 2008
Dubai- The current uncertainty in the real estate market may force some developers in Dubai to go out of business and force the merger of others according to Mohammed Nimer, chief executive officer of MAG Group Property Development Department.
Speaking to Khaleej Times at Cityscape he said, “When you go through a crisis you have to strengthen yourself. I expect 30 or 40 per cent of the develop... more
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Tuesday, October 07, 2008
A developer owned by the Dubai government is to build a 'new city' in the emirate at a projected cost of $95bn. The mixed-use Jumeira Gardens development will be 'an integrated city within a city', to be built over 12 years, Meraas Development announced at Cityscape. The development will be built out over 12 years, across an area north of Sheikh Zayed Road between Diyafa Street and Safa Park. T... more
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Tuesday, October 07, 2008
Dubai: Deyaar Development may take over or merge with other regional developers as the global credit crisis turns up "good value deals," the company's chief executive officer said. There are a lot of distressed assets in the market," Markus Giebel said in an interview in Dubai on Monbday. We could buy "land or another company that can assist in our global expansion. We are looking more at inter... more
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Tuesday, October 07, 2008
Dubai- Showcasing its flagship project, the Dubai Festival city at the Cityscape 2008, the Al-Futtaim Group Real Estate (AFGRE) the emerging real estate giant of the UAE, is more confident than ever as the group the expanding its horizon towards the other Middle Eastern countries starting with Cairo Festival City after the smash hit of Dubai festival city. Al-Futtaim Group Real Estate (AFGRE) i... more
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Monday, October 06, 2008
Bollywood actor Shah Rukh Khan has become the latest celebrity to enter the UAE's real estate market with a property development near Ras Al Khaimah. The Dhs8bn ($2.2bn) Shah Rukh Khan Boulevard, which will be located on Dana Island off the Ras Al Khaimah coast, will have modern residences including specially designed studios, and one- and two-bedroom apartments and townhouses.... more
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Monday, October 06, 2008
Dubai: Damac Properties has awarded contracts worth about Dh2.5 billion in the first nine months of 2008, reinforcing its commitment to timely delivery of projects amid growing public concerns over chronic delays that have plagued the UAE's real estate market. From initial consultants through to enabling and main contractors, the company has awarded more than 60 contracts in the first nine mont... more
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Sunday, October 05, 2008
Dubai — Rakeen, a property development company in Ras Al Khaimah and the real estate development arm of the Ras Al Khaimah Government, has announced that it will unveil the new design of its Dh60 billion Dana Island project during its participation at Cityscape Dubai 2008, a Press statement said. Rakeen has booked Stand ZG 20 of the Zaabeel Hall for its meticulously conceptualised exhibition, w... more
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Sunday, October 05, 2008
Dubai: The total value of declared projects in Abu Dhabi is inching towards the $500 billion mark (Dh1.83 trillion), according to the Middle East Economic Digest (Meed). Contributing to the $500 billion portfolio are large-scale real estate projects such as Al Raha Beach (Dh58 billion), Al Reem Island (Dh35 billion), Das Islands (Dh43 billion) and the Dh100 billion Saadiyat Island development. ... more
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Sunday, October 05, 2008
A Q4 report by Colliers International real estate consultancy has predicted a softening of the market that will see house prices in Dubai stay level until 2010. Though demand has not dropped an increasing amount of supply coming onto the market will see a softening of value appreciation, especially compared to the increases of the past five years.... more
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Saturday, October 04, 2008
UK-based estate agent Humberts is opening its first office in the UAE, which will be launched at this year's Cityscape Dubai between 6-9 October. It's first office in the Middle East will open in Abu Dhabi later this year. Humberts has a network of 44 offices across the UK.... more
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