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Qatar Holding has bought a 40 percent stake in a new 290,000-square metre skyscraper project near the centre of Milan, it was announced on Friday. Porta Nuova represents one of the most prestigious city center mixed use developments in Europe with a market value in excess of € 2 billion....
A real estate report highlighting the Doha real estate market is expected to remain stable and may even witness a surge in unit sales and rentals over the coming months. In the residential real estate sector, the Al Asmakh Real Estate Q1 report points out that demand in Doha will...
Emaar Properties and two other developers have announced more grand projects to fuel the recovery of the Dubai real estate sector at a recent property show and Emaar Properties, Dubai’s largest developer and the builder of the Burj Khalifa, have revealed their intentions to build an even taller tower...
Property sales in Doha have continued at a swift pace through the first quarter of 2013, with a 2 percent increase in the total value of transactions. The latest Asteco Q1 2013, Qatar report says that compared with the fourth quarter 2012, there has been a 6 percent increase in...
A new report reveals that the UAE real estate market has made widespread gains and is trending to positive territory this year. Bayut.com, one of the leading UAE real estate portals, points out that the real estate recovery is no longer limited to the posh areas of Dubai. During the...
A market report finds that an estimated 40,000 new homes will be available for buyers in Dubai over the next two years. Published by consultants Jones Lang LaSalle, the report shows that a number of new properties will be developed between 2013 and 2015, which would account for 11 percent...
Cluttons in Abu Dhabi: Residential rents increase in some locations — while overall, Abu Dhabi becomes a more affordable place to live Major Highlights of Cluttons Q1 2013 market report for Abu Dhabi: A number of large-scale announcements in the past six months has resulted in optimism in the real estate...
All sectors of the Dubai real estate market are positioned in the recovery stage of their market cycle for the first time since 2008 Jones Lang LaSalle’s Q1 2013 market report: Major Highlights The real estate investment market has been very active in the first quarter of 2013, with a...
It was announced on Sunday that the Kaloti Group, one of the world’s largest gold and precious metals refiners and trading houses, will be building one of the world’s largest gold and precious metal refineries in the Jumeirah Lakes Towers Free Zone in Dubai. The announcement was made as Kaloti celebrated its...
Property company Asteco Q1 2013 Dubai real estate report reveals increased demand is pushing Dubai real estate prices up further All residential developments in Dubai, especially those with quality buildings or those in prime areas, have continued where they ended 2012 with a strong Q1 2013 performance. Apartment sale prices...
The leading construction company in the MENA region, Arabtec Holding PJSC, announced on Sunday that it has signed a Dh500 million contract to build the Nile Towers, in Maadi, Cairo. Arabtec was awarded the project in July, 2012 with a local joint venture partner, SIAC Industrial Construction and Engineering Company. The Nile Towers...
As the top performing locality of Dubai, Dubai Marina receives much attention by tenants, wealthy expats, visitors and investors. Bayut.com shares its stats to highlight the community’s performance in 2012. Dubai Marina occupied the top spot among the communities that performed notably well during 2012. Considering the performance of the...
Three years after the Emirate’s property market collapse, Emaar Properties registered a profit. According to a detailed earnings statement released on Monday, Emaar generated a revenue of 2.5 billion dirhams ($680.64 million) from sales of condominiums last year, compared with 1.1 billion dirhams in 2011, which is more than double from...
Even though luxury property prices in the UAE climbed by around 20 percent in 2012, it remained more affordable than some of the other top global cities. The Wealth Report 2013, prepared by Knight Frank, a global property company, shows that the price of prime luxury property in Dubai...
A new report has highlighted that several commercial property owners in the UAE are struggling to recoup operating costs through the service charges being levied to tenants. The report suggested that service charges in the UAE were mainly driven by market forces rather than true operating costs. As usually these...
The coveted position for the world’s tallest building is always on. It all started with the Home Insurance Building, Chicago(42 meters) in 1884 to the Burj Khalifa (828 meters), Dubai in 2010. The architecture challenging races seem to never stop, as nations go on an overdrive to build the tallest structures. So...
Statistics reveal that the UAE real estate market, though facing major challenges in terms of oversupply, will be showing positive signs of recovery with major projects in infrastructure and real estate in store. According to lan Robertson, CEO, Jones Lang LaSalle MENA, “The foundations are being laid for a recovery...
Emaar Properties, one of Gulf’s premier real estate developers, has claimed receiving an overwhelming response from investors at a roadshow in India. The construction firm has held a two-day roadshow in Mumbai to promote its Dubai-based projects among Indian investors. The roadshow will be continued in New Delhi on February...
Sheikh Nahayan bin Mubarak al-Nahayan, a member of Abu Dhabi’s royal family, has revealed investment plans of up to US $45 billion over a period of around 15 years in Pakistan. News reports suggest that the investment would be made in real estate projects in Karachi, Pakistan’s largest city and...
The South African firm engaged in construction of Lebanon Island on Dubai’s The World has completed all development work on the project. The Cape Reed Group of Companies, specialists in timber and thatch structures, announced that it has completed work on the Royal Island Beach Club, a Caribbean-style beach club...
As Qatar prepares itself to host the 2022 FIFA World Cup mega event, newly published figures highlight that construction costs in the country will surge by up to 18 percent in 2017 from current levels. Prepared by MEED Cost Indices, these figures were revealed under the Tender Price Index for...
The rule that calls for all public sector employees to relocate to Abu Dhabi has led to an increase in the average rents of new projects. A report by property consultants Cluttons shows that rental prices in areas such as Raha Beach, Raha Gardens, Al Reem Island, Saadiyat and...
The cost of accommodation in UAE increased at a rapid pace in 2012, with prices of villas and rents climbing up by 23 per cent and 17 per cent, respectively. The upward trend in property prices is expected to continue in the coming months. As investors showed renewed interest in...
A new USD 272 million retail, residential and hotel development launched on Abu Dhabi’s Al Maryah Island is expected to be completed by 2017. Named the Sowwah Central, this project will feature a 214,000 square meter shopping centre, along with hotel and residential towers on Al Maryah Island, Abu Dhabi....
Emirati banks have recommended the central bank to cap mortgage loans at 75 percent of the property value for expats and 80 percent for UAE nationals In the latest round of negotiations, Emirates Banks Association (EBA) also pushed for capping second mortgages at 60 percent and 65 percent for expats...
The merger would create one of the largest listed real estate companies in the Middle East and North Africa region, with over AED 47 billion (US $12.8 billion) of combined total assets. Abu Dhabi-listed companies Aldar Properties PJSC (Aldar) and Sorouh Real Estate PJSC (Sorouh) announced today that their boards...
Banks and real estate investors got a sigh of relief after UAE’s central bank governor today clarified on the proposed mortgage cap. According to the governor of the apex bank Sultan Bin Nasser Al-Suwaidi, the circulars sent by the Central Bank setting the maximum value of mortgages for foreigners and...
Jones Lang LaSalle unveils “2013 Top Trends for UAE Real Estate” Jones Lang LaSalle, the world’s leading real estate investment and advisory firm has today announced its ‘2013 Top Trends for UAE Real Estate’. Being published for the sixth consecutive year, this keynote research assesses and forecasts the major trends...
More than 276 hotels and hotel apartments are located within 2km of one of five mega shopping malls in Dubai, a Market research conducted by Reed Travel Exhibitions the organiser of Arabian Travel Market 2013 (ATM) which takes place at Dubai World Trade Centre on 6-9 May 2013, has shown....
The InterContinental Hotels Group (IHG) believes that the hospitality industry in Saudi Arabia and UAE offers it the highest growth potential in Middle East. Outlining expansion plans of the Group, Pascal Gauvin, COO of IHG India, Middle East and Africa, told Hotelier Middle East that eight hotels are scheduled to...
A latest report by Council on Tall Buildings and Urban Habitat (CTBUH) has named Dubai as being home to a fifth of the world’s tallest 100 towers. Out of the six tallest buildings completed in 2012, four were located in Dubai. The world’s tallest hotel, the 355-meter JW Marriott Marquis,...
Wealthy Arab investors are expected to make a strong comeback to London’s luxury real estate market in 2013 as confusion over tax changes announced in budget subsides. In 2012, London home prices significantly slowed down even though there was strong global demand for prime property in the city. Prime London...
With confusion persisting over a change in mortgage laws, expats in Dubai are rushing to sell their homes and get the best bargain. The increase in number of expat-owned properties is being witnessed after a decision by the UAE Central Bank placed a 50 percent lending cap for them. The...
A new report by Knight Frank, the global real estate consultancy, shares the good news of Dubai villa market making a strong comeback. The report forecasts that Dubai’s villa property market will be in huge demand in 2013. The property prices will receive a boost due to limited supply of...
A new report by real estate firm Cluttons points out the massive potential offered by Dubai and dubs it the most attractive destination for private investors in the GCC region. The destination is being fancied by not only global investors, but is also likely to attract high levels of domestic...
The JW Marriott Marquis Dubai has been officially recognized by The Guinness World Records as the world’s tallest hotel. At a height of 355 metres, the hotel is only 26 metres shorter than the Empire State Building in New York. The hotel is spread across two 77-floor twin towers, each containing 804 rooms.The...
The largest hotel in the Gulf and the Middle East in terms of number of rooms was launched in Dubai. The Yasat Gloria is considered an integrated city as it contains 1019 suits and can accommodate more than 3,000 people at one time. The hotel offers its guests high quality...
There has been a lot of buzz in Dubai over the past few weeks about highly desirable real estate projects that are being launched and sold out within days or even hours of being released. This is not to say that every property project in the Emirate will receive this...
A global survey revealed Beirut is the most expensive Middle Eastern city to live in, moving up eight notches to number 67. The Middle East witnessed its ranking falling in Mercer’s 2012 Worldwide Cost of Living Survey as rental prices dropped in the region due to unrest and uncertainty. Mercer’s...
It’s official, the Abu Dhabi Municipality is to rename Sowwah Island as Al Maryah Island. It is worthwhile pointing out that Al Maryah Island occupies a unique location between the current business area of Abu Dhabi and the forthcoming futuristic projects at Al Reem Island, Mina Zayed and the...
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