Monthly progress report for every project in Dubai

Monthly progress report for every project in Dubai

The Real Estate Regulatory Authority of Dubai (RERA) will publish monthly status reports on every single project in Dubai on their website, starting next week. So far, 875 projects are listed with RERA, and Marwan Bin Galita, chief executive of RERA, hope this initiative will comfort investors in these... 

February 26, 2009 | Read the story »

Dubai launches $20bn bond programme

Dubai launches $20bn bond programme

The government of Dubai has launched a $20 billion bond programme, Reuters reported on Sunday. The purpose of this programme is to help Dubai meet its financial obligations and drive development projects forward. In a statement issued by the finance department in Dubai, the central bank of the UAE has... 

February 22, 2009 | Read the story »

Aabar spends Dh5bn on Al Reem Island

Aabar spends Dh5bn on Al Reem Island

Aabar Investments announced yesterday the purchase of 12 towers on Al Reem Island in Abu Dhabi at a total cost of Dh 5bn. The tower buildings will be located on six land plots within the Al Reem Island development area, and the purchase agreement is signed with Tamouh Investments, who owns 60% of the... 

February 20, 2009 | Read the story »

Deyaar to hand over 1300 units this year

Deyaar to hand over 1300 units this year

Deyaar announced today that they will hand over seven different projects, comprising a total of 1300 units, within 2009. The projects scheduled for delivery in 2009 include both commercial and residential projects. At Business Bay, The Citadel and Hamilton Residency will be handed over in 2009. In the... 

February 18, 2009 | Read the story »

Freehold owners in Abu Dhabi to get visas

Freehold owners in Abu Dhabi to get visas

A senior government official in Abu Dhabi has disclosed details about a federal law granting residency visas to owners of freehold property. This law is expected to be introduced within the year. The law will allow freehold owners to obtain a six-month renewable residency visa, regardless of their nationality... 

February 16, 2009 | Read the story »

Dubai Holding merge back-office operations

Dubai Holding merge back-office operations

Dubai Holding unveiled a major restructuring on Sunday in order to cut costs amid the global financial crisis. Dubai Holding, owned by the ruler of Dubai, Sheikh Mohammed bin Rashid al-Maktoum, said it would merge back-office operations at three of its real estate entities, Dubai Properties Group, Sama... 

February 15, 2009 | Read the story »

Saadiyat Construction Village nears completion

Saadiyat Construction Village nears completion

Saddiyat Construction Village is close to completion and is soon to be inaugurated by the Tourism Development and Investment Company (TDIC) in Abu Dhabi. The 27 square-kilometre village, situated at Saadiyat Island, is one of the most advanced housing facilities for construction workers and will set... 

February 15, 2009 | Read the story »

Mohammed Bin Zayed City Towers to pioneer a new model for development

Mohammed Bin Zayed City Towers to pioneer a new model for development

The Mohammed Bin Zayed City Towers in Abu Dhabi will pioneer a new model for development, according to KEO International Consultants’ Urban Development Division in Abu Dhabi. The master plan developed by the Abu Dhabi Municipality and KEO will outline sustainability and quality standards that the... 

February 14, 2009 | Read the story »

Emaar reported Dh1.77bn loss in fourth quarter of 2008

Emaar reported Dh1.77bn loss in fourth quarter of 2008

Emaar Properties, the largest listed Arab developer, posted a surprise fourth-quarter loss due to U.S. writedowns and put new projects in its home market Dubai on hold due to the financial crisis. Emaar, which is constructing the world’s tallest building, posted a loss of 1.77 billion dirhams ($481.9... 

February 12, 2009 | Read the story »

List of projects currently on hold

List of projects currently on hold

The global financial crisis has caused a slowdown in construction in the UAE, and many developers have either cancelled or put their project on hold. Proleads recently reported that more than 50% of civil project in the UAE is currently on hold, worth a combined total of $582 billion. Meed and Zawya... 

February 10, 2009 | Read the story »

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