Nakheel’s Marina Residences set for handover from April

Nakheel, the developer of Marina Residences on Palm Jumeirah, will begin handover of the residences in April 2009. Being more than 90% completed, the 900 homes scheduled for handover will be spread across the six towers located at the tip of Palm Jumeirah’s trunk. Work at Marina Residences has... 

Dubai’s population is still growing

Dubai’s population is continuing to grow, a government official said Monday, despite reports that the economic downturn has resulted in the loss of thousands of jobs. The emirate issued 1,000 more visas a day than it cancelled last month, Raed Safadi, the chief economist for the Government of Dubai,... 

DAMAC to handover units in Lake View tower

DAMAC Properties has announced the completion of its Lake View tower – the second of the company’s projects to be completed at Jumeirah Lake Towers. The final completion certificate was awarded to DAMAC Properties last week and customers will now begin moving in to the 40 storey tower which occupies... 

More than 50% of projects currently on hold

A report published on Thursday concluded that the downturn in construction projects have had its toll in the UAE. The Insights investigation concludes that 52.8% of the total current civil construction project portfolio of the UAE, worth a combined total of $582 billion, is now on hold while a further... 

Dubai contractors face bankruptcy

Several Dubai-based contractors say they are owed millions of dirhams by state-linked developers and some may face bankruptcy as credit dries up and major projects are cancelled or scaled back in the former Gulf Arab boom town. “There has been a marked increase in the number of contractors asking... 

Expansion of Al Furjan on hold

Further expansion of Al Furjan, Dubai, will be put on hold until Nakheel sees a rebound in demand for property, the company told The National All of the first 2,000 homes, which have all been sold, are on track for completion by the end of next year, said Mohammed Rashed, the project’s general... 

Yas Marina Circuit on schedule

Construction on the Formula1 track Yas Marina Circuit in Abu Dhabi is on schedule and expected to be completed in time for its premiere on November 1st, developers said monday. Ten percent of the 5.5-kilometer (3.4-mile) circuit for the inaugural Abu Dhabi Grand Prix — the final race on F1′s... 

Nakheel to deliver 1042 homes at Waterfront this year

Nakheel, Dubai’s master developer, today announced that construction of 1,042 new homes in the Manarah District in Badrah, Waterfront is nearly 40% complete, with all of these properties due to be handed over by the end of the year. The Manarah district makes up more than one third of Badrah, the...