Dubai may seize properties

The Dubai Land Department may begin seizing off-plan properties whose owners are in default. The authority has started notifying investors who have defaulted that if they fail to make their outstanding payments within two weeks that 40 per cent of any money they have paid so far will be confiscated,... 

Capitala Highlights Rihan Heights Progress At Cityscape Abu Dhabi 2010

Capitala announced today on the back of Cityscape Abu Dhabi 2010, significant progress for Rihan Heights, the first residential phase of its maiden project – Arzanah. Arzanah, Capitala’s flagship project, is a 1.4 million square metre development encompassing residential, retail, commercial,... 

Kuwaiti NREC launches Dh1.2bn project in Abu Dhabi

Kuwaiti developer, National Real Estate Company (NREC), is set to develop a Dh1.2 billion four-tower residential waterfront project called Carina Views on Najmat Abu Dhabi in Al Reem Island. The project consists of four 22-storeys residential towers with 684 units in all. The project is intended for... 

Nakheel offer investors in Palm Jebel Ali more options

Close to 700 investors in Palm Jebel Ali have expressed their dissatisfacion with Nakheel’s offer of alternative properties and have announced plans to bring lawyers into the matter. Nakheel recently received US$9bn (Dh33bn) from the Dubai Government to revive stalled projects and settle debt,...