Latest News

• Cluttons in exclusive partnership with Tilal Properties for landmark Sharjah development

  18, November 2014
  

  International real estate consultancy, Cluttons, has partnered with Tilal Properties, a newly formed joint venture between Sharjah Asset Management and Eskan Real Estate Development, to provide a fully integrated sales and marketing solution for Tilal City – a ground breaking new mixed use development in Sharjah. Tilal City will create a vibrant mixed use neighbourhood […] Read more

• Prime Minister of Antigua & Barbuda visits Ajman Uptown project

  18, November 2014
  

  The Prime Minister Mr Gaston Browne, and the Foreign Minister Mr Charles Fernandez, Antigua & Barbuda called on to His Highness Sheikh Humid Bin Rashid Al-Nuaimi, the Ruler of Ajman and Member of Supreme Council of UAE on 27 October 2014 at Al- Zahya Palace Ajman. The Chairman of Sweet Homes Group, Abdul Sattar Dero […] Read more

• Diyar Al Muharraq reaps great success from its participation BaPDEX

  18, November 2014
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• Qatari residential rents climbing: QNB

  25, February 2013
  QNB Group has said that house rents are on the rise in Qatar, following four years of deflation, the Peninsula has reported. Housing costs climbed 2.8% last year, compared with the previous year, the report said. The increase was largely due to fresh inflows of expatriate workers to implement the country’s major infrastructure projects,” the report said, adding that this year will ... Read more

• DSI plans Saudi acquisition, India expansion

  25, February 2013
  Khaldoun Tabari, the chief executive of Drake & Scull International (DSI) has said the Dubai-based construction firm plans an acquisition in Saudi Arabia and expansion in India and North Africa to help diversify revenue, Bloomberg has reported. DSI, which raised $120m in a loan coordinated by Goldman Sachs Group in November, will use proceeds from the loan for a possible $25m buyout ... Read more

• Emaar launches new hotel, apartments project in Dubai

  24, February 2013
  Emaar Properties has announced the launch of a new twin tower complex in Downtown Dubai that will offer more than 500 serviced apartments and a 180-room luxury hotel. Spanning the 50-storey high complex will be a unique 'Sky Bridge', which includes a signature restaurant, ballroom, infinity pool with amenity deck, which offers 360-degree vistas of Downtown Dubai and panoramic views of the ... Read more

• Dubai's Avant set to expand into India

  24, February 2013
  Dubai-based flooring and roofing firm Avant has signed an agreement with NCC Urban, a subsidiary of Indian diversified construction group NCC Ltd, to launch its products in India, the Hindu Business Line has reported. Avant, which has a presence in 16 countries, will introduce flooring and roofing products to the Indian market, with interior cladding and exterior roof sheeting products to be ... Read more

• Bloom Properties to build 40,000 houses in Iraq

  24, February 2013
  UAE-based Bloom Properties is set to build 40,000 houses in the Iraqi city of Karbala, Iraq Business News has reported. The chairman of IraqÂ’s National Investment Commission, Sami al-Araji has said, ahead of signing the agreement with the local government of Karbala Province, that the development is expected to be completed within eight years. Read more

• Aldar reschedules merger meeting to March 3

  23, February 2013
  Abu DhabiÂ’s biggest real estate developer, Aldar Properties has failed to get the necessary quorum of shareholders on Thursday to vote on its proposed merger with Sorouh Real Estate, Zawya Dow Jones has reported. Aldar needed holders of 75% its share capital to be present at an extraordinary general meeting, but fell short of that total, a company spokesman said. A second ... Read more

• UAE Red Crescent-funded Gaza Strip residential project to restart

  21, February 2013
  The United Nations Relief and Works Agency for Palestine Refugees (UNRWA) has announced that construction of a stalled UAE-funded housing project in the Gaza Strip is to resume in six weeks, The National has reported. Work on the Dhs73.4m, 600-unit Khan Younis housing scheme was launched in 2005, but ground to a halt two years ago due to the Israeli blockade. "We ... Read more

• Kuwait's United Real Estate posts 122% increase in profit

  20, February 2013
  Kuwaiti property developer United Real Estate Co (URC) has reported a 122% year-on-year surge in full-year net profit for 2012 to KD22.5m ($79.5m). The developer, in which Kuwait Projects Co (Kipco) is a majority shareholder, boasts major projects across the region including the Abdali Mall in Jordan, Salalah Gardens Mall in Oman and the Raouche View residential tower in Lebanon. "In addition ... Read more

• Mubadala boosts Aldar capital by 10%

  20, February 2013
  Abu Dhabi-based Aldar Properties, which plans to merge with Sorouh Real Estate, has said its largest shareholder Mubadala has converted bonds in the company to shares, boosting its capital by nearly 10%, Reuters has reported. State-owned investment fund Mubadala converted the bonds at a price of Dhs1.75 per share, resulting in an increase in capital to Dhs4.48bn ($1.22bn) from Dhs4.085bn earlier, Aldar ... Read more

• Qatari firms to get 70% of World Cup-related projects

  20, February 2013
  The director general of Qatar Chamber of Commerce and Industry, Remy Rowhani has said that around 70% of 2022 FIFA-related projects will be awarded to local business community, the Peninsula has reported. Asked if the local companies are capable enough to deliver ambitious projects such as Qatar Rail, New Doha Port Project and others, Rowhani said: “It is not a question whether ... Read more

• QGBC to represent Qatar on LEED roundtable

  19, February 2013
  Qatar Green Building Council (QGBC) has signed a memorandum of understanding with the US Green Building Council (USGBC) to boost collaboration between the two organisations, the Peninsula has reported. The agreement empowers QGBC to represent Qatar on Leadership in Energy and Environmental Design (LEED) International Roundtable, one of the USGBCÂ’s advisory groups. A LEED Specialist Interest Group, composed of QGBC members across ... Read more

• Union Properties mulling options to settle Dhs2.2bn debt

  19, February 2013
  The chairman of Union Properties, Khalid bin Kalban, has said the Dubai-based developer is in talks to settle Dhs2.2bn ($599m) of debt through measures that will include property swaps, Bloomberg has reported. “We are trying to reduce the company’s costs,” Kalban said. “Today, the biggest expense at the company is borrowing.” Union Properties paid around Dhs150m in interest last year, he said. ... Read more

• Doha registers 35% rise in value of property deals

  19, February 2013
  Asteco has said the property market in the Qatari capital, Doha, grew 35% year-on-year growth in value and 20% in volume of property sales in the final quarter of 2012, the Peninsula has reported. The transactions were mainly recorded in the non-freehold/usufruct areas. The total value of transactions for apartment blocks in the non-freehold areas increased by 87% in Q4 2012, compared ... Read more

• Meraas launches reclamation work on 'Island 2' project

  18, February 2013
  Dubai’s Meraas Development has announced reclamation work has commenced on its ‘Island 2’ project off Jumeirah which will house high-end boutique resort, low-rise apartment buildings and a marina, Emirates 24-7 has reported. The developer said the project is a mixed-use development that will house “a very elite high end boutique resort along with low rise apartment buildings and a marina.” The island ... Read more

• Nakheel negotiating Dhs8bn loan extension

  18, February 2013
  The chairman of DubaiÂ’s Nakheel, Ali Rashid Lootah, has said the state-owned property developer is in talks to extend an Dhs8bn ($2.18b) loan due in 2015, The National has reported. Last month, investment bank Exotix cut its rating on Nakheel's sukuk due in August 2016, warning the developer may fall 70% short of the funds needed to repay. However, Lootah dismissed concerns ... Read more