Zawya.com - Real Estate News

Fransabank: Economic Buletin (1Q-2013)

Wed, 19 Jun 2013 11:33:00 GMT

The Lebanese economy has witnessed a retreat in its economic activity in the first quarter of 2013 relative to the first quarter of 2012, due to the regional turmoil in several Arab countries, especially in Syria that is severely affecting the Lebanese economy, amidst growing domestic political tensions. Lebanon's major economic indicators are presented in the following: - Construction permits decreased by 21.1%.- The number of real-estate sales transactions decreased by 18.9%.- The number of tourists decreased by 12.5%.- The number of passengers at the Beirut-Rafic Hariri International Airport (HIA) increased by 10.4%.- The value of cleared checks decreased by 0.6%.- The fiscal deficit decreased by 89% to USD 17.9 million in January 2013.- The net public debt increased by 6.8%.- Inflation rose by 3.71%.- The Central Bank of Lebanon's gross FX assets increased by 9% to USD 35.3 billion.- The banking sector's total assets increased by 7.4% to USD 155.4 billion.- Market capitalization of Beirut Stock Exchange (BSE) increased by 0.5% to USD 10.9 billion.- The trade deficit decreased by 10.4%.- Capital inflows decreased by 4.29% to USD 4.23 billion.- The balance of payments recorded a deficit of USD 62.2 million.- Economic growth is estimated at 2% in 2013 and 4% in 2014 according to the International Monetary Fund (IMF).

Qatar Diar to take Sama Dubai's stake in Salam Yiti

Wed, 19 Jun 2013 05:32:25 GMT

Qatar Diar Real Estate Investment Company is planning to take a 70% stake of Sama Dubai in Salam Yiti intergrated tourism comlex project, which was halted in the second half of 2009 due to global economic crisis.

AED32m Armani-designed Dubai apartments for sale

Wed, 19 Jun 2013 04:31:12 GMT

The Armani/Casa designed apartments in The World Towers in Mumbai, billed to be the world's tallest residential towers, are being sold in Dubai.

Flipping starts in Emaar The Hills flats

Tue, 18 Jun 2013 06:17:29 GMT

Apartments in Dubai-based Emaar Properties' latest project - The Hills in Emirates Living - are on sale in the secondary market, with investors asking for premiums of up to 10%.

Shoura OKs uniform rules to obtain real estate loans

Tue, 18 Jun 2013 05:14:29 GMT

The Shoura Council approved uniform rules to obtain loans from the Real Estate Development Fund on the basis of social, cultural and economic situations of the individuals.

Arabtec wins Aldar’s AED4bn contract in Kazakhstan

Tue, 18 Jun 2013 05:02:48 GMT

Aldar Properties, Abu Dhabi’s largest real estate developer by market capitalisation, has awarded a contract worth nearly AED 4 billion in Kazakhstan to a joint venture company led by regional construction major Arabtec, it was announced.

Nakheel open to investor inquiries for The World project

Tue, 18 Jun 2013 04:40:14 GMT

The number of developers submitting development plans for approval in The World project is on the rise, according to Nakheel.

5,000 Mehr housing units to be ceded

Mon, 17 Jun 2013 07:56:06 GMT

Some 5,154 Mehr housing units will be ceded in Damavand, Tehran province, announced director general of Tehran Roads and Urban Development Department.

BMI: Bahrain Real Estate Report (May-13)

Mon, 17 Jun 2013 05:51:00 GMT

Includes 3 FREE Quarterly Updates.The Bahrain Real Estate report examines the commercial office, retail, industrial and construction segments throughout the country in the context of political stability issues in a market already characterised by oversupply.With a focus on the three principal cities of Manama, Riffa and Muharraq; the report covers rental market performance in terms of rates and yields over the past 18 months - with newly collected data charting the sector over H212 - and examines how best to maximise returns in the commercial real estate market, while minimising investment risk and exploring the impact of the government-fed construction boom as the commercial real estate market continues to suffer the fallout from the global financial crisis and political unrest. It has been one of the slowest Gulf Cooperation Council economies to recover from the crisis and the protests mean that economic growth is likely to be slow. In the real estate sector this has translated into falling rents and an endemic oversupply of rental space.In spite of these challenges, elevated oil prices and higher oil production are likely to help build an economic recovery over the coming years, though it will be slow in coming. There is some irony in the fact that the very same unrest that is causing so much damage to the wider economy in the MENA region is also responsible for the rise in oil prices that is going to fuel economic growth. Since oil makes up 80% of Bahrain's export income, GDP growth is extremely sensitive to movements in the price of oil. As a result, it is difficult to be optimistic about the short-term prospects for Bahrain's commercial real estate market. The longer-term outcome will depend on Bahrain achieving a level of economic growth outside the exportoriented oil sector.Key PointsWe expect Bahrain's political crisis to rumble on over the coming months as a fundamental resolution continues to prove elusive. While the risk of public protests r

Emirates Green Building Council calls for setting up financing scheme for 'green' retrofit of buildings

Mon, 17 Jun 2013 05:27:43 GMT

Emirates Green Building Council has proposed the creation of an innovative financing scheme to promote the green retrofitting of existing buildings to make them more energy-efficient.

World’s most sustainable building can now be found in Dubai

Mon, 17 Jun 2013 05:03:24 GMT

If Dubai is home to the tallest, the largest, and everything else worthy of the record books, it can also have the ‘most sustainable’ commercial building in the world — The Change Initiative (TCI) — on Shaikh Zayed Road.

Chesterton to launch London's prime AED600 million property in Dubai ahead of global launch

Sun, 16 Jun 2013 07:22:00 GMT

UAE investors to get the first opportunity to buy the property situated opposite the landmark 'Emirates Stadium'

Largest tourism project in Mideast to be launched in Jordan

Sun, 16 Jun 2013 07:18:26 GMT

The largest integrated tourism project in the Middle East, planned to be built along the Dead Sea shores by an Egyptian real estate developer, will be up and running by 2019.

Qatar: Inflation up as real estate recovers, says report

Sun, 16 Jun 2013 05:40:32 GMT

Qatar's real estate market remains over supplied and the factors behind the sector's "strong recovery" remains unclear, Samba Financial Group said in a report.

Qatar: Rentals in upcoming malls higher

Sun, 16 Jun 2013 05:01:01 GMT

Asking rental rates in some upcoming malls in Qatar are 20 to 30% higher compared to the prevailing rates, indicating a bullish market outlook, according to the latest Tanween Quarterly Real Estate Market Report (Q1 2013).

Solidere profits in Lebanon plunge 90% in 2012

Sat, 15 Jun 2013 05:16:06 GMT

The net profits of Solidere’s Lebanon operations in 2012 plunged by a whopping 90%, or USD 163 million, to USD 16 million due to a huge drop in land sales, FFA Private Bank said.

Mubarak ally behind illegally developed luxury Sharm el-Sheikh resort

Sat, 15 Jun 2013 05:14:45 GMT

In the beach resort of Sharm el-Sheikh, the sun-soaked coastal strip that is one of the Middle East’s most popular holiday destinations, the glitziest hotels can shroud the grubbiest of secrets. Once a Bedouin fishing village, Sharm el-Sheikh was transformed during the rule of Hosni Mubarak into a gaudy package holiday hotspot.

World's tallest twisted tower in Dubai has its own airspace

Sat, 15 Jun 2013 04:26:10 GMT

Cayan Tower, formerly known as Infinity Tower, in Dubai Marina is the world's tallest tower with a 90-degree twist. But that's not all, there is something more peculiar to this tower.

UDC to sign QAR1.5bn loan deal with QNB

Fri, 14 Jun 2013 05:16:05 GMT

United Development Company (UDC), master developer of The Pearl-Qatar, announced yesterday its intention to sign a loan agreement facility with Qatar National Bank (QNB) for QAR1.5 billion.

More Gulf investors buy property in Turkey

Fri, 14 Jun 2013 05:01:37 GMT

Two out of 24 towers in a massive Turkish real estate project still in progress in Istanbul were bought by a Saudi businessman last Friday, officials at the construction company said.

Gulf's largest open-air square to be built in Doha

Thu, 13 Jun 2013 09:08:46 GMT

The regeneration of the historical commercial centre of Doha will feature the Gulf's largest open-air square - Al Baraha, according to Msheireb Properties, developer of the Msheireb Downtown Doha project.

Nakheel makes AED210m sukuk profit payment

Thu, 13 Jun 2013 07:14:57 GMT

Dubai-based Nakheel said it made a profit payment of AED 210 million on its trade creditor sukuk.

Business Bay registers biggest Q1 office space deal in Dubai

Thu, 13 Jun 2013 07:06:38 GMT

Big ticket deals in the commercial space took place in Dubai during the first quarter 2013 as prices rose for the first time after a four-year period.

'Akoya by Damac' first phase of sales kicks off

Thu, 13 Jun 2013 06:55:20 GMT

Damac Properties has announced the launch of the first phase of sales for luxury villas within the 'Akoya by Damac', project.

'Emaar to build USD2bn Kurdish resort'

Thu, 13 Jun 2013 04:59:35 GMT

Emaar Properties of Dubai and Kurdish company Faruk Group Holding will soon sign a contract valued at more than USD 2 billion to develop a resort in Iraq's oil-rich Kurdish region in the north, a government official said, according to Bloomberg.