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Dubai's Palm Residents Denied Access To Services Urged To Report IncidentsFriday, December 30, 2011![Dubai\](http://www.bayut.com/property/common/resize.php?img=100/1067.jpg&d=45 "Dubai\") Dubai: Palm Jumeirah residents who are being denied access to the beach, pools, and gyms by Nakheel have been urged to report incidents to the Real Estate Regulatory Agency (Rera).
The announcement came following Rera's statement saying residents may enjoy the beach, pools, and gyms with no additional costs.
Earlier th ... more |
Marinascape Investors Yet To Receive Title DeedsFriday, December 30, 2011 Dubai: The issuing of title deeds to properties — residential and retail — at the Marinascape high-rise in Dubai Marina is emerging as a bone of contention. Some of the investors in the properties have now approached the Real Estate Regulatory Agency (Rera) for intervention.
"It was in April last year that we acquired the retail portion at Marinas ... more |
Abu Dhabi Rescues Aldar With Dh16.8bFriday, December 30, 2011 Abu Dhabi: The Abu Dhabi government yesterday came to the rescue of the emirate's biggest property developer, Aldar Properties PJSC, with a Dh16.8 billion lifeline in exchange for strategic assets.
This is the second such move in a year. In January, the developer had agreed to sell real estate assets, including the Ferrari theme park, and convertible bonds to the ... more |
Aldar Sells Dh16.8bn In Assets To Abu Dhabi GovernmentFriday, December 30, 2011 Abu Dhabi: Aldar Properties PJSC Wednesday announced unit sales, asset transfers and reimbursements with the Government of Abu Dhabi, for a total consideration of Dh16.8 billion.
Under the deal, Abu Dhabi government has purchased 760 three-, four- and five-bedroom units within the Al Bandar, Al Zeina and Al Muneera developments in Al Raha Beach for a total conside ... more |
Aldar To Decide On Sale Of Assets At Board MeetingTuesday, December 27, 2011 Abu Dhabi's largest real estate developer by market capitalization, Aldar Properties, said yesterday its board will meet tomorrow to consider the sale of some assets of the company. "Aldar Properties will be holding a meeting of its board of directors at 2.30pm on December 28 to consider the sale by the company of certain of its assets, in addition to discussing operational matters relating to the ... more |
Failure To Register Rent Contract Will Result In Fines For TenantsTuesday, December 27, 2011 Registration of rental contracts with the Dubai Land Department (DLD) will soon become a pre-requisite to accessing other government services, according to a top property regulator. The Land Department and its regulatory body — the Real Estate Regulatory Agency (Rera) — has been trying to implement the system through a registration portal — Ejari.ae. The move will help the government to monitor ... more |
Aldar Committed To Its Listing On Abu Dhabi BourseMonday, December 26, 2011 Dubai: Abu Dhabi-based Aldar Properties is fully committed to maintain its listing, the company said yesterday, moving to quash market speculation that it may delist after a government investment firm raised its stake in the property developer through a recent bond conversion.
"Following the recent market speculation, Aldar Properties would like to conf ... more |
RERA Accredits 22 Firms To Conduct AuditingMonday, December 26, 2011 Dubai: The Real Estate Regulatory Authority (Rera), the regulatory arm of the Dubai Land Department (DLD), has accredited 22 auditing firms and bureaus to conduct financial auditing of real estate projects registered with Rera.
The step is part of Rera's strategy to boost the adoption of good governance measures for the real estate sector and enhance transparency ... more |
Sorouh Real Estate Is Taking Long-Term View With TenantsMonday, December 26, 2011 Dubai: Sorouh Real Estate is doing things a little differently in Abu Dhabi. While most developers are still weighing the pros and cons of offering three- or five-year leases, Sorouh has had one for 30 years and another for ten years. It has also been aggressively offering residential space through lease programmes packed with incentives for its Sun development on Al Reem Island.
... more |
Regulatory Cohesion Will Make For A Great New YearMonday, December 26, 2011 As 2011 draws to a close, all things considered it has been a reasonably humdrum year in the legal world in the UAE, with few major new initiatives or announcements made. While the consensus is that we are close to — if not already at — the bottom of the real estate market in terms of values, there remains uncertainty on the future of certain projects and the debate continues on how be ... more |
Aldar Denies Rumours Of DelistingMonday, December 26, 2011 Abu Dhabi: Aldar has denied reports that it is planning to delist from the Abu Dhabi Stock Exchange.
The speculation, which saw shares in the developer plunge on the Abu Dhabi exchange, were branded "mere rumours" by an Aldar company spokesman reached by Gulf News last night.
Shares of the developer slumped 4 ... more |
Office Space Market Crash FearedMonday, December 26, 2011 Dubai: Thousands of square metres of new office space due to come online in Riyadh over the next two years has raised fears of an office market crash after 2012.
Analysts say that an expected 830,000 square metres of office supply is expected over the next two years, with hundreds of other buildings under construction in the central business district of the S ... more |
Meraas To Build Dh2.2b Movie Theme ParkMonday, December 26, 2011 Dubai: Meraas, a local real estate company, has announced plans to build a Dh2.2 billion ($600 million) movie theme park on the outskirts of Dubai.
Meraas said yesterday that the two million square foot Dubai Adventure Studios, phase one of a three-phase project, will include rides and food and beverage outlets. The development, which is located close to the Arabi ... more |
Sharjah Streamlines Real Estate SectorMonday, December 26, 2011 Sharjah: Sharjah's Real Estate Registration Department (RERD) is the sole body responsible for registering real estate projects, whether completed or still under way, and developers must register all projects with the department before implementation, according to a new decree.
The Sharjah Executive Council issued resolution No. 24 of 2011 amending resolutio ... more |
Emaar Signs New Dh3.6b Financing FacilityMonday, December 26, 2011 Dubai: Emaar Properties PJSC has signed a new Islamic and Conventional financing facility amounting to Dh3.6 billion ($1 billion) with Dubai Islamic Bank PJSC, National Bank of Abu Dhabi and Standard Chartered Bank as Mandated Lead Arrangers and Bookrunners.
As part of the overall debt management for the Company, the drawdown of the facility will convert the Compa ... more |
Brokers Told To Display Registry NumbersMonday, December 26, 2011 Dubai: Regulators warned 23 real estate brokerages they could face fines of up to Dh50,000 for failing to display their registration numbers in advertisements they place in the media.
The Real Estate Regulatory Authority (Rera), the regulatory arm of the Land Department in Dubai, said that many companies do not include their registration numbers in their newspaper ... more |
A Lofty Experience In Jumeirah Lakes TowersFriday, December 16, 2011 As a newly wed couple moving from Beirut to Dubai, Therese and Wissam Keyrouz were enamoured with the city’s skyscrapers. Since Beirut is mainly made up of low-rise buildings, the couple was keen to experience life in one of Dubai’s gleaming towers. Their trail began in Dubai Marina in 2006, wound its way through Discovery Gardens and ended in Jumeirah Lakes Towers (JLT).
... more |
Aldar Converts Mubadala-Held BondsFriday, December 16, 2011 |
Community Guide To Jumeirah Lakes TowersThursday, December 15, 2011 As its name suggests, Jumeirah Lakes Towers is built around four man-made lakes. This mixed-use community by Dubai Multi Commodities Centre (DMCC) currently boasts 58 completed towers in 26 clusters, spread over 200 hectares of land. Conveniently located along Shaikh Zayed Road, JLT is serviced by two Metro stations - Dubai Marina and JLT. Though often tagged ‘the poor cousin of Dubai Marina ... more |
Abu Dhabi Rents Stable In Q4 As Delays Limit SupplyWednesday, December 14, 2011 Residential rents in Abu Dhabi may face downward pressure in 2012 following the completion of delayed projects in the city, adding to the number of homes on the market, a report said on Tuesday. Asteco Property Management in its second-half report for 2011 said the emirate’s residential property sector stabilized in the fourth quarter as project handover delays limited the delivery of new supply. ... more |
Nakheel To Make Profit Payment SoonTuesday, December 13, 2011 Dubai: Real estate developer Nakheel says that it will pay the profit payment due on its sukuk to creditors this week.
"Nakheel is pleased to confirm that the profit payment of 10 per cent due on December 15, on the Trade Creditor Sukuk issued in late August, will be paid on time," the company said in a statement yesterday.
... more |
Eshraq Properties Suffers Loss Due To Conversion DelayMonday, December 12, 2011 Abu Dhabi: Abu Dhabi Securities Exchange-listed real estate developer Eshraq Properties said in a filing to the market that it had made a net loss of Dh919,117 for the period July 7 to September 30 due to delays to the official company conversion date to public joint stock.
"The performance of the company from January 1 until September 30 was profitable at Dh7.9 m ... more |
Nakheel Sets Target For Profit PaymentsMonday, December 12, 2011 Dubai: Real estate developer Nakheel says that it will pay the profit payment due on its sukuk to creditors later this week.
"Nakheel is pleased to confirm that the profit payment of 10 per cent due on 15 December 2011, on the Trade Creditor Sukuk issued in late August this year, will be paid on time," the company said in a statement on Monday.
... more |
Dubai Realty Stays SteadyMonday, December 12, 2011 Prices for apartments and villas in Dubai are poised to see marginal declines in 2012 with 10,700 new apartments and 1,300 villas entering the market in the first six months of the year, Asteco Property Management said. The Dubai-based real estate consultancy said Dubai’s property market would get a fillip from buyers from other Arab countries as continued regional unrest and economic uncertainty ... more |
Abu Dhabi Will Undergo Short-Term Fall In DemandFriday, December 09, 2011 Abu Dhabi: Abu Dhabi's property market is likely to remain sluggish through the initial months of the new year due to suppressed demand coinciding with increasing supply.
"Demand has been reduced due to the government cutting back spending on infrastructure investment and economic development initiatives, combined with slowing global economic activity,&q ... more |
Developer Marshals Resources For Al Reem Island High-RiseFriday, December 09, 2011 Dubai: With the home stretch beckoning for the ongoing projects in Dubai, Tameer Holding Investment is marshalling resources for its next big thing — a cluster of high-rises on Abu Dhabi's Al Reem Island.
There is a lot of prestige riding on the mixed-use development, and not least for being the one to bear the Tameer name and the company's first in the emir ... more |
Nakheel: We've Paid Dh7.3b To Creditors Since 2010Thursday, December 08, 2011![Nakheel: We\](http://www.bayut.com/property/common/resize.php?img=100/1044.jpg&d=45 "Nakheel: We\") Dubai: Nakheel, Dubai property developer, said Thursday it had paid $2 billion (Dh7.3 billion) to trade creditors, following the restructuring of the company, since 2010.
“We are pleased to announce that Nakheel has to date made payments of Dh7.3 billion to its trade creditors,” a Nakheel spokesperson said.
... more |
Nakheel: We've Paid Dh7.3b To Creditors Since 2010Thursday, December 08, 2011![Nakheel: We\](http://www.bayut.com/property/common/resize.php?img=100/1037.jpg&d=45 "Nakheel: We\")
“We are pleased to announce that Nakheel has to date made payments of Dh7.3 billion to its trade creditors,” a Nakheel spokesperson said.
“Today’s announcement marks another significant progress in our recapitalization plan, following on from the initial payments to trade creditors of Dh500,000 or less, which commenced in March 2010. Nakheel has completed its financial ... more |
Master Plan Of Al Zorah Resorts In Ajman UnveiledThursday, December 08, 2011 Al Zorah Development Company, a joint venture of the Government of Ajman and Solidere International, on Wednesday unveiled the full master plan of its ambitious Al Zorah Resorts project, a premium tourism destination located on the northern coast of the emirate. The mixed-use development, located on a land area of over 5.4 million sq m, is envisaged to become a prime hub for the hospitality and to ... more |
Nakheel Posts Dh526m Net ProfitMonday, December 05, 2011 Dubai: Dubai property developer Nakheel reported a net profit of Dh526 million for the first half of the financial year ending December 31, 2011 on Dh1.5 billion revenues.
This comes after the successful closing of the company's massive debts and the transfer of its ownership to Dubai Government from Dubai World.
"Reve ... more |
Falling Mortgage Rates Spur ActivityFriday, December 02, 2011 It started in early 2010, with Standard Chartered offering a 6.5 per cent rate to customers seeking to roll over mortgages. This was followed by HSBC reducing rates from 8.5 to 6.75 per cent for first-time buyers. Other banks which reviewed and reduced rates included RAKBank, Mashreqbank and Abu Dhabi Finance, which made the biggest cut to 5.75 per cent.
This year has witnessed a similar phenome ... more |
Dubai And Abu Dhabi Top Region As Best Cities For ProfessionalsFriday, December 02, 2011 Dubai: Dubai and Abu Dhabi continue to outpace the competition as destinations offering white-collar workers and professionals the highest quality of life across the Middle East and Africa. This is despite the conflicts and regime changes that have been going on in their immediate neighbourhoods since the start of the year.
Dubai and Abu Dhabi secured the 74th and 78th spots in the corresponding ... more |
Developers Urged To Ensure Timely Completion Of ProjectsThursday, December 01, 2011 Dubai: Master developers dragging their feet on infrastructure development in real estate projects should consider solutions such BOT (build, operate, transfer) and give credit notes or land with completed infrastructure to developers, Shaikh Ahmad Mohammad Zayed Saqr Al Nahyan told Gulf News.
An amicable solution satisfying all parties must be worked out and master developers should improve com ... more |
Sorouh's Finances In Good Shape After Rebalancing Loan PortfolioThursday, December 01, 2011![Sorouh\](http://www.bayut.com/property/common/resize.php?img=100/1033.jpg&d=45 "Sorouh\") Abu Dhabi: Abu Dhabi's second-largest real estate developer, Sorouh Real Estate is in a "stable" financial condition, having had the wisdom to rebalance its portfolio in 2008, Gurjit Singh, the company's chief operating officer, said yesterday.
"All ongoing projects' funding needs are adequately taken care of," said Singh, speaking to Gulf News on the sidelines of an ind ... more |
