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Tuesday, March 16, 2010
 UAE nationals will now be able to own industrial and commercial properties, granted by Dubai's government, with full freehold legal status and get title deeds registered through the Dubai Land Department. His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE, in his capacity as Ruler of Dubai, on Monday issued a decree regulating ownership of industria ... more
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Monday, March 15, 2010
 Community service fees for homeowners in The Springs have been reduced for 2010. Dubai_Community service fees for homeowners in The Springs have been reduced for 2010, with the new rates Dh2.03/ft² of plot area, a reduction of almost 6.5 per cent compared to 2009. A spokesperson for Emaar Properties, the developer of the community, told in a statement, "Following a detailed review of the 2009 c ... more
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Friday, March 12, 2010
 A federal law soon to start taking shape will further ensure organization of the real-estate sector in the country, Minister of Justice Hadef Jua'an Al Daheri disclosed. "Instructions have been issued to prepare a federal draft law to organize ownership and registration of real estate across the country," Al Daheri told the Federal National Council (FNC) on Tuesday. At present, real estate is s ... more
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Wednesday, March 10, 2010
 Property prices and transactions in the capital emirate are unlikely to increase significantly in the coming months, due to mortgage rate cuts announced recently by the government as well as by some of financial institutions and developers jointly, according to forecasts by Landmark Advisory, a property consultancy firm. The firm expects that delivery of new units will take place only at the en ... more
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Tuesday, March 09, 2010
 More than 120 speakers from over 25 countries will take part in an open debate on the “real issues and challenges confronting the real estate investment industry” within the UAE and outside, during Cityscape Abu Dhabi, which will be held at the Abu Dhabi National Exhibition Centre from April 18 to 21, 2010 . “Given the dramatic changes that have impacted the global markets over the past year or ... more
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Monday, March 08, 2010
 Dubai's Land Department will soon announce a new regulatory framework for offshore companies investing in Dubai's freehold market. The move is aimed at improving transparency. The Land Department has halted, for a month, transactions of offshore companies due to lack of clarity. "There are currently guidelines that exist which offshore companies have to adhere to. A new set of regulations is cu ... more
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Monday, March 08, 2010
 Pearl Dubai, developers of the 20 million sq ft sustainable Dubai Pearl integrated destination overlooking the Palm Jumeirah, announced a tie-up with Singapore Sotheby’s International Realty to leverage its luxury real estate network of offices across Asia for promoting the upscale development to high net-worth individuals. Dubai Pearl will commence a road-show across key Asian hubs in collabor ... more
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Friday, March 05, 2010
 Al Hanoo, a leading GCC real estate developer has announced the launch of Marsa Al Nejoum Real Estate LLC in the UAE. "We are proud to announce the establishment of our new development arm, Marsa Al Nejoum with the clear objective of being at the forefront of innovation in property development in UAE," Shaikh Abdullah Al Sakra, chairman of Al Hanoo said in a statement. The new development arm i ... more
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Friday, March 05, 2010
 The pace of decline in UAE consumer prices eased a bit in the month of January, thanks to a spike in property rents, energy and medical bills, but inflation was kept in check in the Arab world’s second largest economy because of broadly stable food prices and lower transport and communication cost, official data showed on Thursday. The rate of consumer price growth, or inflation, has sharply de ... more
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Wednesday, March 03, 2010
 Arabtec Holding, the UAE’s largest contractor by market value, on Tuesday said its profit for 2009 nearly halved as it posted its first-ever quarterly loss after provisioning Dh294 million for bad debts. The Dubai-based company, which is in the process of selling a 70 per cent stake to Abu Dhabi’s Aabar Investments, said net profit for the year fell 48 per cent to Dh494.9 million from Dh958.05 ... more
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Tuesday, March 02, 2010
 Ali Eid al Mehairi, chairman of Abu Dhabi Finance, a mortgage provider part-owned by the government, has said the firm has received financial support from the Department of Finance aimed at reducing its rates to the lowest in the country, The National has reported. The unspecified amount, which was obtained at 'commercial terms', will enable ADF to lower the cost of borrowing for home buyers to ... more
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Monday, March 01, 2010
 The dynamics of serviced offices are as dependent on the state of the market as any other category of property. Even then, there are subtle differences underpinning the way serviced offices fare during periods of boom and distress.
In a marketplace that is steadfastly on the up and up, the larger corporate houses and businesses are only too willing to look at serviced offices as an option rath ... more
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Monday, March 01, 2010
 Arabian Construction Week, the region’s international exhibition incorporating three dedicated vertical trade exhibitions and two global summits on sustainability, innovation and infrastructure, will gather a spectrum of exhibiting companies, trade visitors and senior industry leaders in Abu Dhabi. To be held from May 24 to 26 at the Abu Dhabi National Exhibition Centre, the event will feature ... more
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Friday, February 26, 2010
 Ras Al Khaimah Investment Authority (RAKIA) said on Thursday that the infrastructure work on Al Marjan Island, the first man-made island in the emirate, is progressing at a good pace. RAKIA provides investment opportunities and one-stop solutions in its Free Zones, Industrial Parks and Offshore facilities as well as in Real Estate developments and other ventures. Phase I of the infrastructure, ... more
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Thursday, February 25, 2010
 Dubai developer Nakheel has named Aqil Kazim as chief commercial officer of the firm, which lies at the centre of a $22 billion debt restructuring by parent company Dubai World. Kazim, who joins from Jumeirah Golf Estates, where he was director, replaces Manal Shaheen, a company spokeswoman said on Tuesday. Shaheen, who joined Nakheel in 2005 as assistant sales manager, had largely played a sal ... more
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