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Monday, June 30, 2008
The Trump Organisation, one of the world's leading property developers and headed by US tycoon Donald J. Trump, on Sunday launched the sale of five penthouses in the $800 million Trump Soho Hotel in New York, exclusively in the UAE. Although the hotel itself has been launched already in New York, the five penthouses have been kept secret in order to introduce them to the UAE market.Dubai is a "... more
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Monday, June 30, 2008
Hydra Properties has announced the completion of 65% of the excavation and land leveling work for Eve's Tower, located at Downtown in Dubai's Business Bay. The tower is being built as an exclusive offering for women entrepreneurs. The project is expected to be completed by 2010, and is being executed by Middle East Foundations Company.... more
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Friday, June 27, 2008
Will the addition of more Salik tolls and the ever nearing Dubai Metro affect property prices? Traffic continues to be a topic of debate among Dubai residents. Since the implementation of toll gates almost a year ago, a trip over Garhoud Bridge has become much more pleasurable. And since last year, work on the Metro has developed at a rapid pace. The government is focused on doing all that it c... more
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Thursday, June 26, 2008
Nakheel is considering plans to outbuild rival Emaar Properties with a near mile-high tower, eclipsing the world's tallest building, the Burj Dubai. Nakheel is looking at constructing a tower higher than the competition , Chief Financial Officer Kar Tung Quek told the Reuters Global Real Estate Summit. The developer of about $60 billion worth of projects is finalising plans for a 1.4-km tall t... more
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Thursday, June 26, 2008
Dubai’s long-awaited low cost airline named FlyDubai will make its debut by mid-2009. The new carrier, being created in accordance with a decree from the Ruler of Dubai early this year, will be the fifth national airline of the UAE, the sixth low-cost carrier taking to the skies from the Middle East region, and the second based in the UAE after Sharjah's Air Arabia. Kuwait's privately-owned Jaz... more
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Thursday, June 26, 2008
Emaar Properties has launched Warsan Estate in Dubai, an exclusive residential community located on Al Awir Road. The development will offer 500 single family townhomes that will appeal to residents who value the privacy of villa living in an immaculately laid out residential community, an Emaar statement said.... more
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Wednesday, June 25, 2008
Italian architect Dr. David Fisher today announced the launch of Dynamic Tower, the world's first building in motion, to be constructed in Dubai. Each floor of the 80-storey tower will rotate independently to create a building that constantly changes shape, according to a statement. Apartments will range in size from 124 square metres, to villas of 1,200 square metres, complete with a parking s... more
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Tuesday, June 24, 2008
Property buyers should not expect an automatic residence visa upon purchasing property in Dubai, a top official clarified. There is no direct link between property ownership and residence visas. Developers should not lure investors to property sector with a promise of residence visa, Marwan Bin Galita, chief executive of Dubai's Real Estate Regulatory Agency (Rera) told Gulf News on Monday. B... more
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Tuesday, June 24, 2008
Some developers are misleading people with advertisements with promises of life-long residency if they buy their properties, Marwan Bin Galita, chief executive of Dubai Real Estate Regulatory Agency said. There is nothing called a life-long residency visa here and issuing residency visas is in the hand of the residency department only, he said. Bin Galita added that the real estate authority w... more
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Tuesday, June 24, 2008
Hong Kong-based boutique developer Maison Limited has unveiled its first project in Dubai, Maison Residence Collection' at Downtown Jebel Ali. The $234m, G+17 residential tower will be located on Phase Four of Downtown Jebel Ali.... more
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Tuesday, June 24, 2008
Dubai's ruler Sheikh Mohammed Bin Rashid al-Maktoum plans to build a $60bn city in his name in the desert adjacent to the emirate, reported Bloomberg. The project, designed by architect Eric Kuhne of London-based CivicArts, will be developed by Dubai Properties, a unit of Sheikh Mohammed's Dubai Holding. The 800 million square feet city will include residential, commercial, educational and tour... more
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Monday, June 23, 2008
Tamweel Properties and Investments, a subsidiary of Tamweel, has signed a master agreement with real estate developer Al Hanoo Holdings to provide exclusive brokerage services for Al Nujoom Islands, an Dh18 billion project in Sharjah. This agreement also underlines the efforts of Tamweel's newly launched property and investment subsidiary in supporting the development of the property sector in ... more
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Friday, June 20, 2008
Dubai Summer Surprises (DSS) saw a colourful start last evening as lights, sounds, sea lions and dolphins greeted the scores of children gathered at the Dubai Dolphinarium in Creek Park. Over 500 invitees watched in awe as the three dimensional animation dolphin show unveiled the opening of the eleventh edition of DSS. Shaikh Ahmed bin Mohammed bin Rashid Al Maktoum, Chairman of Dubai Foundatio... more
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Friday, June 20, 2008
Property consultants, Sherwoods yesterday launched Dubai's newest technologically-advanced tower, valued at nearly Dh900 million. Located in Dubai Silicon Oasis, the Silicon Information Technology tower (SIT) is a 25-storey building.Mohammad Nasir Falak, working alongside Sherwoods, is owner and developer of SIT, which will have such features as broadband internet connection and keyless entry f... more
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Thursday, June 19, 2008
Sahara Centre yesterday announced the expansion of its Sahara City project, the largest real estate and commercial project in Sharjah and the Northern Emirates. Once complete, the Dh5 billion Sahara City project, spread across a million square feet, will encompass a vast array of residential, commercial, retail and entertainment facilities. Sahara Centre also announced the signing of a Dh600 mi... more
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Thursday, June 19, 2008
Bonyan International Investment Group has awarded the Dhs350m ($95m) 'Dubai Gate 2' project to Transemirates Contracting. The developer's 35-storey residential development will offer 442 luxury apartments and 7 retail areas within Jumeirah Lakes Towers, a waterfront community adjacent to Shaikh Zayed Road. The awarding of the contract follows the resolution of a series of issues concerning the ... more
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Wednesday, June 18, 2008
The first official test run of the Dubai Metro is expected to take place in September this year, the Roads and Transport Authority said yesterday. The test run of the Dubai Metro would be done on an 11.4km track from the Jebel Ali underground Metro terminal to the Ibn Battuta Metro station, said Mattar Al Tayer, Chairman of the Board and Executive Director of the RTA. He added that the Metro ... more
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Wednesday, June 18, 2008
The staggering 60 storey sky-scraper is the first of its kind, strategically located along the main thoroughfare linking Dubai to the capital, Abu Dhabi. The Escan Tower, will offer more than half a million / 570,000 square feet of mixed-use space that has been architecturally defined to offer all-angle views, and infused with abundant natural light. Built with clear aesthetic guidelines to cap... more
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Tuesday, June 17, 2008
Al Arrab Contracting Company Ltd (ACC), part of Al Rajhi group of Saudi Arabia, recently signed a term loan agreement jointly with Emirates NBD (ENBD), Qatar National Bank (QNB) and Arab Bank, the mandated lead arrangers and joint underwriters for $550 million, to partially finance the construction of 10 towers in the Pearl Qatar project. The facility will be launched for general syndication in... more
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Tuesday, June 17, 2008
Tamweel PJSC, the UAE's largest provider of real estate finance, today announced that it will offer commercial finance to businesses interested in buying office space in the Fortune Tower, located in Jumeirah Lakes Towers (JLT), Dubai. Fortune Tower offers nearly 350,000 square feet of commercial space in a prime business location of JLT adjacent to Sheikh Zayed Road in Dubai. The handing over ... more
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Tuesday, June 17, 2008
Zabeel Properties, the real estate arm of Dubai-based Zabeel Investments, is currently developing eight projects in the emirate, with a combined value of Dhs18bn ($4.9bn), reported Gulf News. Robert Norton, CEO of Zabeel Properties, said the company will 'always be expanding in the UAE' because it has a large landbank of strategic plots. The company, which was launched in March, will have at le... more
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Monday, June 16, 2008
The Ajman government has issued a new property law under Amiri Decree No 7 and 8, 2008 that will regulate the emirate's land and properties sector, reported Gulf News. The law legalises freehold ownership of land and property for UAE and GCC citizens and companies wholly owned by them as well as to the public stock companies. There are about 24 realty projects underway in Ajman.... more
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Monday, June 16, 2008
The project, located in Ajman's Marmooka City, comprises three residential 18 storey towers designed by Adnan Saffarini Engineering Consultants. The Crescent Towers is Al Jabal Real Estate's first development. Due for completion in October 2011, each floor will have nine spacious apartments ranging from studios to one bedroom, two bedrooms, and three bedrooms. Set in the rapidly developing city... more
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Monday, June 16, 2008
Abu Dhabi: The Urban Planning Council (UPC)'s new codes for developers and contractors have attracted interest in the industry. Falah Al Ahbabi, UPC's general manager, revealed that several developers have already approached the council seeking advice to apply the new guidelines. Our teams are ready to assist any developer, contractor, and existing landlords all the way, and those who wis... more
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Sunday, June 15, 2008
Mizin announced its Remraam community project has commenced construction on time and as per the planned schedule. Dubai Civil Engineering, Al Ghafly General Contracting and Parkway International won the contracts valued at Dhs6bn.... more
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Saturday, June 14, 2008
D'SECO and Property House (PH) have launched its co-owned project in Ajman, the Al Helio downtown, a Dhs4bn mini-city project, reported Gulf News. The 115-acre development will comprise of 32 residential and commercial plots, and is expected to complete in 2013. D'SECO funds 70% of the project while PH is covering the remainder.... more
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Thursday, June 12, 2008
The UAE emirate of Ras Al Khaimah has issued an order freezing its new rent law, and reinstated its earlier law which will be in force until October 1, reported Gulf News. The new law, which capped rent increases at 5% for residential properties and 7% for commercial properties, was vague and gave landlords an unfair advantage, a senior official said. Amendments to the new legislation are curre... more
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Wednesday, June 11, 2008
Emaar Properties has announced that its Burj Dubai tower, the world's tallest, is facing a nine-month delay and is unlikely to be ready until August or September of next year. The original deadline was December, but the developer had already extended the deadline once, to next April. The delay is due to a redesign of the building's interior.... more
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Wednesday, June 11, 2008
Emaar Properties plans has unveiled plans for a new tower - The Mansion at Burj Dubai - which will feature direct views of Burj Dubai, the world's tallest building, and the Burj Dubai Lake from all of the residences in the building. Designed by Adrian Smith, the designer of Burj Dubai, the 60-storey high tower will feature studios, and one-, two- and three-bedroom apartments. The Mansion ... more
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Tuesday, June 10, 2008
UAE-based developer Hydra Properties has announced that excavation on the Hydra Village Abu Dhabi eco-retreat is 50% complete. Contracts for the 2,500 homes in the project will be handed over in July, with the final handover expected to take place in 2010.... more
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Tuesday, June 10, 2008
UAE-based real estate finance provider Tamweel has launched a buy-to-let scheme for people investing in commercial and residential developments to earn long term rental returns. The Shariah-compliant 'Irad' initiative allows investors access to up to 75% of the property's value. Repayment tenure is over 10 years for commercial property and 25 years for residential developments.... more
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Wednesday, June 04, 2008
The project portfolio of Limitless currently under planning and development has exceeded $100 billion (Dh367 billion) with nine master-planned developments, a senior official said on Tuesday. However, within less than three years of operations, the value of our net assets crossed $30 billion, Paul Green, chief financial officer of Limitless told a conference on Tuesday. This makes Limitless - a... more
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Wednesday, June 04, 2008
Dubai Maritime City, the world’s first purpose-built maritime centre and a member of the Dubai World Group of companies, launched its Maritime Centre that will serve as the business capital for the city. The Maritime Centre comprises a cluster of five high-rise towers called the Creek Towers and Plaza; a landmark tower located at the head of the man-made peninsula; and seven plots reserved for ... more
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Tuesday, June 03, 2008
Abu Dhabi is constructing workers' cities to house 400,000 people by 2010, according to Shaikh Hamed bin Zayed Al Nahyan, chairman of Abu Dhabi's Crown Prince's Court and Chairman of the Higher Corporation for Specialised economic Zones (ZonesCorp). Shaikh Hamed said the emirate's strategy was to construct modern residential cities for workers and labourers working in Abu Dhabi. About 40% of wo... more
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Tuesday, June 03, 2008
A massive project for building modern labour residential cities in Abu Dhabi will provide housing for over 400,000 workers by 2010. Over 40 per cent of the project, which is already under way, will create housing and other utilities for foreign workers with limited income. Shaikh Hamed bin Zayed Al Nahyan, Chief of the Abu Dhabi Crown Prince's Court and Chairman of the Higher Corporation for Sp... more
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Tuesday, June 03, 2008
Abu Dhabi is constructing workers' cities to house 400,000 people by 2010, according to Shaikh Hamed bin Zayed Al Nahyan, chairman of Abu Dhabi's Crown Prince's Court and Chairman of the Higher Corporation for Specialised economic Zones (ZonesCorp). Shaikh Hamed said the emirate's strategy was to construct modern residential cities for workers and labourers working in Abu Dhabi. About 40% of wo... more
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Monday, June 02, 2008
Goldcrest Properties, a member of one of the leading property developers in the region, Giga Group, announced the launch of Smart City, a Dhs2bn freehold residential development comprising eight luxury residential towers.... more
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Monday, June 02, 2008
The Dubai Naturalisation and Residency Department (DNRD) will increase the fees for visit visas soon but not this month, Major-General Mohammed Ahmed Al Marri, Director of DNRD, confirmed yesterday. Maj-Gen. Al Marri said the rule on the fee increase is a federal one applicable to all the Departments of Residency and Naturalisation in the UAE. He said, however, that no date has been specified y... more
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Monday, June 02, 2008
Eight weeks of family fun and entertainment is in store for the residents of Abu Dhabi with the emirate's first Summer Festival scheduled to commence on June 26. Organised by the Abu Dhabi National Exhibitions Centre (ADNEC) in cooperation with Abu Dhabi Tourism Authority, Abu Dhabi Authority for Culture and Heritage, and Capital Centre, the festival will conclude on August 18. The 13,000 squa... more
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