Archive for January, 2009
Dubai scraps racecourse agreement
Dubai's Meydan said on Monday it has cancelled a racecourse construction deal with Malaysian construction firm WCT Engineering Bhd and local firm Arabtec 'because of non-adherence to the agreed time schedule for construction', the company said in a statement. Meydan is taking steps to commission other companies to complete the racecourse by 2010, when it [...]
Ajman Uptown sales hit 70%
Sweet Homes, a UAE-based developer and multi-service provider to the real estate sector, has sold 70% of its Dhs3bn Ajman Uptown, the first freehold residential in the emirate. Ajman Uptown comprises seven commercial and residential towers, a hotel and hotel apartments, villas and townhouses.
Dubai owners question maintenance fees
Dubai residents are calling for greater transparency over how money is spent on the maintenance and upkeep of apartments. In Jumeirah Beach Residence, maintenance fees have increased by 129% and home owners have taken to organising unofficial committees to battle the recent hikes. Residents in the Discovery Gardens and The Palm Jumeirah have also set [...]
Burj Dubai hits final height
Emaar's flagship development, the Burj Dubai, has reached a height of 818m according to a project contractor. The spire was erected on the world's tallest building at the end of December and the capping beacon has since been activated.
Rera to rank Dubai developers
In a new system to be introduced by the Dubai Real Estate Regulatory Authority (Rera) this year, Dubai property developers will be ranked by financial stability and market experience, The National has reported. A regulation requiring developers registering off-plan projects to fully own the land first will also be implemented. The evaluation is aimed at [...]
Modon inks land contracts in Dammam
Saudi Industrial Property Authority (Modon) has recently signed five land allocation contracts for investment projects in Dammam's second industrial city. The five companies are Saudi German Plastics Manufacturing Company, Al-Mutlaq Service and Manufacturing Co. Ltd., Teikyo Middle East Electricity and Equipment Co. Factory, Vital Chemicals Factory, Arab Company Factory for Pipe Projects. Modon oversees the [...]