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Free Zone Spurs RAK RealtyFriday, July 30, 2010 Demand for offices in Ras Al Khaimah's Free Zone is having a positive knock-on effect on residential letting, most notably in the Al Hamra freehold development. Prospective tenants are mostly those who are setting up businesses or already working in the free zone across the road. More often than not, they are looking for a short-term deal for their residential needs. And when they are confident th ... more |
Aldar Properties Reports Dh789.5m Losses In H1Friday, July 30, 2010 Aldar Properties, the biggest real estate developer in the capital emirate incurred a net loss of Dh789.5 million in the first half of this year mainly due to the lower gains from fair valuation of investment properties, and lower property sales recognized. The company had reported a net profit of Dh 1,142.5 million in the first six months of last year, but has been reporting losses for the last t ... more |
Dubai Rents Continue To EaseWednesday, July 28, 2010 Residential lease rates in Dubai during the second quarter of the year showed minimal movement over the previous quarter but eased by as much as 33 per cent over the same period in 2009, property consultants CB Richard Ellis said. Areas such as Barsha, Bur Dubai, Shaikh Zayed Road, Marina, Greens and Jumeirah Lakes Towers saw rents ease as new supply came into the market. The highest drop in the f ... more |
Sorouh Net Profit Drops On Lower SalesTuesday, July 27, 2010 Sorouh Real Estate said on Tuesday revenues for the first half of 2010 were Dh621 million, compared to Dh1.3 billion in the same period of 2009. Net profit Dh152 million compared to Dh281 million in the same period. Revenues came from the sale of one plot on Shams Abu Dhabi, recognition of income from 41 units at Golf Gardens and rental income from Sorouh's property investment portfolio, the compa ... more |
Dubai's Arabtec Signs Dh2.5b Deal For La Hoya ProjectMonday, July 26, 2010![Dubai\](http://www.bayut.com/property/common/resize.php?img=100/779.jpg&d=45 "Dubai\") Dubai's Arabtec on Monday announced it had signed a deal to build Ras al Khaimah's La Hoya Bay project, valued at $680 million (Dh2.5 billion). The project, on Marjan Island, will be constructed over approximately five years, with the first phase, valued at $245.1 million (Dh901 million) starting immediately. The La Hoya Bay project has, so far, been plagued by delays as it launched amidst the glo ... more |
Hircon Reposses 10 Dubai Marina ApartmentsMonday, July 26, 2010 Dubai-based real estate developer, Hircon International has said it has repossessed eight to 10 apartments in 23 Marina, Emirates Business has reported. The repossessed units in the Dhs1.3bn project in Dubai Marina belonged to investors who were not inclined to meet their financial obligations or eager to talk and work out feasible solutions, the firm said. The development is expected to be comple ... more |
Regulatory Changes Will Boost Real Estate RecoveryThursday, July 22, 2010 The significant regulatory and legal changes that are being announced in the recent days have signalled positive steps that should assist future recovery of the property market in Abu Dhabi, according to leading figures from the industry and legal field. Participating in the discussions arranged as part of the Cityscape Connect Business Breakfast here on Wednesday, they acknowledged that property ... more |
New Tenancy Laws Seek To Provide StabilityFriday, July 16, 2010 |
Victory Heights Phase One Villas Nearing CompletionWednesday, July 14, 2010 The developer of Victory Heights in Dubai said Tuesday that all 794 phase one villas in the residential golfing development will be complete and delivered to owners by the end of 2010. In the first six months of the year the community has reached a number of key milestones, with more than 70 per cent of the sold villas handed over to home owners and many more of the high-end properties completed a ... more |
Aldar Set To Open A Side Street In Central Market ProjectTuesday, July 13, 2010 Aldar Properties said Monday it will open a side street next to the upcoming Central Market, which is located near the intersection of Khalifa Street and Airport Road. The Dh5 billion project, which is due to be completed in 2012, saw various stores, residential buildings and hotels located in the area affected by the construction. That led to 30 store owners sending complaints and queries to Alda ... more |
Long-Term Renters To Be Offered Sky Tower LeasesMonday, July 05, 2010 Master developer Sorouh Real Estate of Abu Dhabi said Sunday it would offer long-term renters the opportunity to lease office space in the Sky Tower on Al Reem Island. Eventually, they may be given the opportunity to own it, if they choose. "Sorouh is offering three-to-five-year lease agreements at a very competitive rate, fixed for the term of the lease. Each year, 75 per cent of the rent is conv ... more |
Sharjah's Nujoom Islands Offers Incentive BonanzaThursday, July 01, 2010![Sharjah\](http://www.bayut.com/property/common/resize.php?img=100/773.jpg&d=45 "Sharjah\") Pragmatic demands by investors for escrow accounts, rent-to-own instalment schemes and progress on infrastructure work were given scant regard during the property boom in the UAE. In a turnaround of sorts, developers are now instead offering incentives to jumpstart unit sales after the reality check inflicted by market forces. Announcing unit sales in Sharjah's Nujoom Islands project at a time whe ... more |
