Archive for January, 2009
Tanmiyat says it has no plans to lay off workers
Saudi-based Tanmiyat Group has announced that all of its projects will be going ahead and that it has no plans to lay off any of its employees. The investment and real estate development company is confident that it is progressing on a positive path despite the current market slump, according to senior company officials. Tanmiyat [...]
Ajman establishes real estate regulator
The UAE emirate of Ajman has established a new real estate regulator for its fast-growing property sector. The Ajman government on Tuesday amended a law creating the Ajman Real Estate Regulatory Establishment. The regulator will be tasked with drawing up policies for property projects and commercial buildings, recommending legislation as well as regulating the relations [...]
Dubai land deals jump 47.5% in 2008
The value of the total land transactions in Dubai shot up 47.5% to Dhs70.2bn ($19.1bn) last year from Dhs47.6bn in 2007, Gulf News has reportd, citing figures from Dubai land department. A total of 5,837 transactions were recorded in 2008, up from 3,997 transactions in 2007. The most land activities were seen last May, with [...]
Society to compile data on property sector
A organisation to compile and share information on the property sector, called the Society of Property Researchers, will be established in Abu Dhabi by Aldar Properties supported by the UK Society of Property Researchers. The aim of the society, the first of its kind in the Middle East, will be to provide a forum for [...]
Dubai’s Rera unveils plans to calm property market
Dubai’s Real Estate Regulatory Authority has released a series of announcements to offer guidelines to help settle the turmoil currently underscoring the emirate’s property market, including payment plans, developer gradings and a rental index.
Nakheel to help The World developers
Nakheel is in discussions with banks to devise finance packages for sub-developers on The World development, The National has reported. The master developer is also working on new payment plans for island owners who are struggling to fund their investments as a result of the global financial crisis, said Hamza Mustafa, the managing director for [...]
Nakheel notches milestone at Waterfront
Dubai-based developer Nakheel said it has cast the raft foundations for two of its 132kV substations at its Waterfront development after six months of detailed design and engineering. A total of 1,700 tonnes of concrete and 170 tonnes of reinforced steel were used to complete the foundations. Nakheel's Waterfront Electrical Infrastructure team is managing the [...]
Dubai Properties denies merger rumours
Dubai Properties said it has no plans to merge with Sama Dubai, a sister concern and a subsidiary of Dubai Holding, reported Emirates Today, citing an interview with Mohamed Binbrek, Group Chief Executive Officer, Dubai Properties Group. He said the company is 'building synergy' within Dubai Holding, but 'no merger has happened nor has there [...]
New course offered on Dubai Strata Law
Dubai Real Estate Institute is offering a new course titled 'Implementing Dubai Strata Law', providing participants with an in-depth understanding of the law's key clauses, specifically on shared property management, according to a press release. The four-day course will be held from the 26-29 January at the DREI campus.
Sweet Homes awards $123m construction contract
Dubai-based developer Sweet Homes has awarded a Dhs450m ($123m) contract to Sharjah-based Master Civil Construction Company for the construction of Towers B10, B14 and B15 – three out of the nine towers comprising its Dhs1.7bn ‘Rainbow Towers’ project. The move follows the completion of an Dhs12m shoring and excavation contract undertaken by Piling Tech for [...]