Real Estate

Real Estate and related Industry News

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...
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...
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...
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...
  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...
  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...
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...
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...
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...
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....
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...
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...
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,...
  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...
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...
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...
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...
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...
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...
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...
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...
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,...
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...
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...
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...
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...
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...
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...
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...
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...
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...
  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...
The first solar panels ever installed, were photo-voltaic solar panels mounted on military satellites and blasted into space from Cape Kennedy, Florida during the 'Space Race' of the 1960's. Many of those old, reliable PV solar-powered satellites are still up...
According to the Land Department's 2011 report, citizens of the Gulf Cooperation Council invested around AED12 billion ($3.27bn) in Dubai's real estate sector last year. The report added that British and Indian nationals invested huge sums of money in plots and...
Leading Saudi newspaper Arab News cited an unidentified report on Sunday which said the Gulf Kingdom has put on hold public work projects worth more than SAR500bn ($133bn) across the country, including 166 in major cities. According to Citigroup’s MENA Construction Projects...
Dubai's Roads and Transport Authority (RTA) said the Dubai Metro project has given a vital boost to the real estate sector of the city by increasing value of land and commercial properties in the vicinity of Metro stations by as much...
Tenants in Dubai are choosing properties that are closer to the metro station, says UAE property firm Asteco, while adding that renters are ready to pay extra for a property near a metro station. Dubai inaugurated its metro network in...
As property prices began to crash with the financial crisis, some of the largest pension funds in the US are beginning to take a step back from investing in fancy properties. Pension funds are some of the biggest investors in...
Arcmad Al-Mashtal, a 5 star hotel has recently been opened in Al-Soudania in the midst of poverty stricken Gaza Strip. The building strikes a stark contrast to its surroundings. Cross-check all the features that make a hotel a 5 star...
The rise in expenses, has brought Arabtec a 74% fall in profits for the second quarter, contrary to estimates of analysts. Arabtec Holding PJSC, is the UAEs largest construction company in terms of market value and six analysts had estimated...