NewsPalm Jumeirah’s Anchor Marina will open in December 2008
Island Global Yachting (IGY), the luxury marina developer and management company, has today announced that Anchor Marina, the first marina on Palm Jumeirah, is on schedule to open in December 2008. IGY has also confirmed, in an innovative move that marks a change in the way berths are made available,...
Deyaar is in talks with DIB to take over seized Dubai project
Dubai property firm Deyaar Development Company is in talks with Dubai Islamic Bank (DIB) to take over a AED 2.5 billion (US$679.4 million) real estate project the lender recently seized in an effort to recover debt. The project, known as Plantation Polo & Equestrian Resort, was seized by Dubai Islamic...
UNEC wins $109m Schon Business Park contract
Schon Properties has awarded a Dh400 million ($109 million) contract to United Engineering Construction (UNEC) for construction of its Schon Business Park. The project will provide much needed flexible commercial spaces for start-up businesses or multinational companies relocating to Dubai, said a company...
95% work on The Lagoons Islands completed
Sama Dubai, the international real estate investment and development arm of Dubai Holding, today announced it has successfully completed over 95 per cent of work on the water front (water-edging) at ‘The Lagoons’, the 70 million square feet Dubai Creek waterfront project that is fast taking shape...
Tiger Properties set to launch Ozean Towers
Tiger Properties, one of the region’s longest standing real estate developers, is launching its latest project, Tiger Towers, in the heart of the Dubai Waterfront development. According to a Press statement on Saturday, the twin condominium towers will be a landmark addition to the world-renowned...
EGSI Group launch Le Stelle in Dubailand
EGSI Group, a member of The Al Barakah Group of companies, unveils Dhs4.5bn ultra luxury project Le Stelle in Majan-Mizin, Dubailand. Iconic Five Towers, with over 2.2 million square feet of ultra luxurious residences over-looking the prestigious Al Barari development. Designed by Heerim, the leading...
Capitala launches sales of Rihan Heights, first phase of Arzanah
Capitala, the Abu Dhabi-based real estate company, today announced it has launched the residential sales of Rihan Heights, the first phase of Arzanah, its flagship development. Strategically located at the gateway point to the island of Abu Dhabi, Arzanah is one of the few remaining parcels of prime...
Premier Inn to develop hotels in RAK and Umm Al Quwain
Premier Inn, the British budget hotel chain that has a partnership with Emirates in the region, has secured sites in Ras Al Khaimah and Umm Al Quwain for developing hotels. It already has sites at Dubai Investments Park, Dubai Silicon Oasis, Dubai International Airport and Dubai Al Jadaf and in Abu Dhabi...
Ferragamo to design luxury penthouses in Dubai
Italian luxury goods maker Salvatore Ferragamo, which has plans for a market listing, is to design the interior of penthouses in Dubai as part of an agreement with real estate firm Trident International Holdings. The Florence-based company said on Tuesday it would design the interior of several luxury...
Tamweel deputy head arrested
Authorities in Dubai have arrested Abdullah Nasser Abdullah, the deputy chief executive of Tamweel, the country’s largest Islamic mortgage lender in a widening corruption and financial misappropriation inquiry, a senior company official has confirmed. “All we can confirm is that he was arrested on...
