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More Residential Units Will Vie For Tenants In Abu Dhabi SoonFriday, January 28, 2011 With many residential high-rises on Reem Island scheduled for completion this year, these could well provide the breathing space that Abu Dhabi's perennially under-supplied property market requires… urgently. And the city's residents can benefit from all that stock hitting the market, and in more ways than one. Apart from the fact these apartments are of a uniformly superior quality, there's the l ... more |
Nakheel On Track With Restructuring Plans, Says The World Is Not SinkingThursday, January 27, 2011 Nakheel, the Dubai-based real estate developer, is on track to issue a $1.63 billion Islamic bond, or sukuk, by the end of the first quarter, the company's chairman said yesterday. Ali Rashid Lootah also said the company would not require any further financial commitment from the Dubai Government as it presses ahead with its restructuring plans. Nakheel, the property arm of the Dubai Government co ... more |
Beautification of JLT On CourseWednesday, January 26, 2011 The majority of infrastructure and landscaping will be completed in the Jumeirah Lake Towers freezone this year, according to Malcolm Wall Morris, CEO of the Dubai Multi Commodities Centre Authority (DMCC). "We're moving on from the sewerage and lake works and we're now on a process of beautification. With retail space filling up, the café culture is starting and people [are] beginning to live in ... more |
Gap Between Asking Price And Achieved Property Value WidensMonday, January 24, 2011 Investors are less likely to try selling their property in Dubai as the gap between asking price and achieved value widened further in the past 12 months. The 10 per cent differential between asking and achieved prices during the fourth quarter of 2009 is now estimated at 15 per cent, according to newly released figures by Jones Lang LaSalle. In the past 12 months, while asking prices were down 6 ... more |
Dubai Set To Add 25,000 New Housing Units In 2011Monday, January 24, 2011 Dubai’s real estate sector will remain under stress in 2011 with occupancy levels dropping further across all asset classes “due to massive new supply,” leading property analysts said on Sunday. Oversupply will continue to impact residential, office, and retail space markets in Dubai in 2011, they said. “Although there are recent pockets of stabilisation for Dubai’s higher-end residential product, ... more |
Aldar Expects To Return To Profit In 2011Wednesday, January 19, 2011 Aldar Properties has said it expects to return to profit this year, confirming guidance given to investors by its chief financial officer, Shafqat Malik, Reuters has reported. Malik also told investors that the company would get paid in cash in 2011 for most of its assets sold to the government and for the convertible bond sale. This would allow Aldar to repay about Dhs13bn ($3.54bn) in debt over ... more |
Dubai Property Market Shows Signs Of StabilityTuesday, January 18, 2011 There are signs of stability in Dubai property market despite a modest fall in sale prices in the emirate, according to a sales guide. Property prices are likely to continue declining trend, but last quarter results show stability in the market, according to Landmark Advisory — one of the leading real estate consultancy companies in the Mideast. Sale prices are likely to continue declining in the ... more |
Arabtec Wins Two Contracts Worth $97mTuesday, January 18, 2011 Arabtec has won contracts worth Dhs356m ($96.92m) to build an underground car park in Abu Dhabi and residential villas in Egypt, Reuters has reported. The underground car park project at the headquarters of the Abu Dhabi National Oil Co (Adnoc) is valued at Dhs219m and is expected to be completed in 24 months. The second contract awarded by Emaar Misr involves building residential villas at Al Mar ... more |
Abu Dhabi Rides to Aldar's RescueFriday, January 14, 2011![Abu Dhabi Rides to Aldar\](http://www.bayut.com/property/common/resize.php?img=100/856.jpg&d=45 "Abu Dhabi Rides to Aldar\") The Abu Dhabi Government yesterday came to the rescue of Aldar Properties with a multi-billion-dirham support package to help recapitalise the emirate's biggest developer so it can continue with its projects. A company spokesperson said, "This deal is consistent with an element of Aldar's business model under which the company has supported the long-term objectives of the emirate of Abu Dhabi by b ... more |
RAK Properties Expects To Collect $474m In 2011Thursday, January 13, 2011 RAK Properties has announced that it expects to collect at least $474m in 2011 as buyers of completed properties make final payments, Bloomberg has reported. The developer, which built Ras Al Khaimah's first manmade islands, is set to complete 3,073 apartments, villas and offices this year starting in February, CEO Mohammed Sultan Al Qadi told the news service. ... more |
Dubai Rental Market Seems To StabiliseWednesday, January 12, 2011 Dubai’s property rental market shows signs of stabilization as apartment rental rates recorded the lowest quarter-on-quarter fall in fourth quarter of 2010, according to a property management company. Dubai tenants keep moving in search of quality property to take the advantage of increased supply of high quality and affordable accommodation. An increased supply particularly in the apartment secto ... more |
Tenants Relocate As Flat Rents FallMonday, January 10, 2011 Abu Dhabi tenants are relocating in search of quality and value as apartment leases fall 7 per cent and villas 5 per cent, says Asteco's fourth quarter 2010 report. Rental costs in Abu Dhabi have continued to decline with mixed fortunes for landlords depending on location, quality and price, according to a new report published yesterday by leading property management company Asteco. Due to the inc ... more |
Steps To Improve Real Estate In DubaiFriday, January 07, 2011 Major project debt restructuring has done much to help restore global confidence in the Dubai economy and property industry. However, the "powers that be" are only too well aware that other steps need to be taken to improve Dubai's image in the world arena. The good news is that there is much goodwill across both the private and public sectors to do what they can do to restore Dubai's internationa ... more |
Arabtec Wins Projects In Abu Dhabi And FujairahTuesday, January 04, 2011 Dubai-based Arabtec announced yesterday it has won contracts worth Dh623 million to build two residential projects in Abu Dhabi and a staff accommodation building in Fujairah. Arabtec is the largest builder in the UAE by market value. The company said the residential towers project is valued at Dh552 million and is expected to be completed in 24 months. The staff accommodation project in Fujairah ... more |
