Zawya.com - Real Estate News

Qatar house rents to drop further: Industrialist

Fri, 20 Nov 2009 09:21:43 GMT

Abdul Hadi Al Shahwani is a prominent Qatari industrialist and businessman. He is also a keen observer of the country's real estate sector where he has investments. Here, he is in conversation with Mohammed Saeed on the situation of the property market.

Lamar Towers to change Jeddah corniche's skyline

Fri, 20 Nov 2009 08:42:52 GMT

Construction of Lamar Towers - the first integrated skyscraper project in the Western Region of Saudi Arabia - is now in full swing after the completion of the most important phase of the project which was the concrete mat casting for the 76-storey highest tower with 72 stories as planned.

Cyprus realty fund eyes Oman market

Thu, 19 Nov 2009 07:23:38 GMT

Cyprus-based Elements Property Fund plans to invest in residential real estate in Oman through a new fund to be launched after it exhausts the corpus of its recently announced South East European Heritage Property Fund, senior officials said here.

Ezdan in talks with real estate brokers

Thu, 19 Nov 2009 06:56:40 GMT

Ezdan Real Estate Company has begun tying up with real estate brokerage firms for marketing its housing projects.

Falling office rents a relief for tenants: Engel & Volkers

Thu, 19 Nov 2009 06:43:40 GMT

Engel & Volkers real estate has conquered all continents, with branches now in 32 countries since it was first launched in 1977.

Nine Egyptian firms bid for Damac deal

Thu, 19 Nov 2009 06:06:25 GMT

Nine major Egyptian contracting firms have joined the bidding for a new tender from Damac Properties for a first grade main contractor at its Hyde Park project in New Cairo.

NTRE, Schon start projects in Cyprus

Thu, 19 Nov 2009 06:03:45 GMT

Dubai-based New Tower Real Estate (NTRE) and Schon Properties yesterday launched three projects in Cyprus.

Completed properties see a rebound in sales

Thu, 19 Nov 2009 06:00:53 GMT

Completed properties are starting to show signs of life while off-plan sales have become "unsustainable", according to a property developer.

In search of housing in Qatar that can be called home

Thu, 19 Nov 2009 05:26:35 GMT

Qatar's Pearl development on reclaimed islands just beyond the chi-chi West Bay area of Doha have finally been handed over to buyers, the first of many developments that have opened the emirate's once-closed property market to foreigners.

Dubai RE Prices Could Drop 30% More In 18 Months

Thu, 19 Nov 2009 04:47:29 GMT

Dubai property prices could drop another 30 per cent over the next 18 months and may take at least 10 years to recover to peak levels, a report by UBS says. More than a quarter of available homes in the emirate could be empty by the end of next year as the population decreases, the Swiss bank said.

Union Properties Restructuring Dh2.75B Loan

Thu, 19 Nov 2009 04:42:24 GMT

Union Properties (UP), the oldest listed property developer in Dubai, has finalised restructuring of a Dh2.75 billion syndicated loan, which was lead-managed by Emirates NBD, according to a top official of the property major.

Borak Engages BGR C&T As Exclusive Financial Advisor

Wed, 18 Nov 2009 14:16:32 GMT

Borak Capital Holding S.A.E. ("Borak") announced today the signing of an agreement with BGR Capital & Trade, LLC ("BGR C&T") whereby BGR C&T has agreed to act as the exclusive financial advisor to Borak.

Smith and Ken announces 100% increase in Q4 sales performance

Wed, 18 Nov 2009 12:53:07 GMT

Smith and ken, the leading regional realty major, specialising in consultancy and brokerage services, today announced its annual sales performance review resulting in a 100% increase in Q4 sales figures.

Sanctuary Falls on course for completion

Wed, 18 Nov 2009 11:29:53 GMT

Shaikh Holdings, a Dubai based real estate investment and development company, has made substantial construction progress on its award-winning golf development - Sanctuary Falls.

Traditional property sales move UAE market

Wed, 18 Nov 2009 11:11:12 GMT

Traditional business models that market new properties are gaining in popularity and beginning to generate more sales than off-plan projects, according to a leading United Arab Emirates property developer in UAE.

Lawyers Accused Of Disrupting Settlement In Mizin Graft Case

Wed, 18 Nov 2009 10:37:55 GMT

Lawyers representing developer Mizin were yesterday accused of disrupting the settlement of a Dh22 million corruption case involving the company's former CEO.

Emaar Middle East to showcase Saudi Arabian projects in Qatar

Wed, 18 Nov 2009 09:35:59 GMT

Emaar Middle East is highlighting its Saudi Arabian projects at a Qatar roadshow being held on November 19, 2009 from 10am to 10pm, at the Al Mirqab Hall, Four Seasons Hotel in Doha.

Defence told to study Sama Dubai's status

Wed, 18 Nov 2009 07:36:54 GMT

The Sama Dubai corruption case appeal was adjourned yesterday to give defence lawyers time to study a letter clarifying the status of the developer.

Brown is head of valuation at Lang LaSalle

Wed, 18 Nov 2009 07:23:08 GMT

Jones Lang LaSalle yesterday said it has appointed Gary Brown as Head of Valuation Services for the Middle East and North Africa region.

Secondary market prices in Springs and Meadows surge

Wed, 18 Nov 2009 06:39:24 GMT

Secondary market prices of properties in the Springs have increased in the range of 11-33 per cent since the beginning of this year, while prices in the Meadows have surged in the range of 16-19 per cent in the same period, according to a real estate firm.

Barwa, Diar make 'green' moves

Wed, 18 Nov 2009 06:38:01 GMT

Barwa Real Estate Company (Barwa) and Qatari Diar Real Estate Investment Company (Qatari Diar) have adopted an advanced sustainable development rating system -- the Qatar Sustainability Assessment System (QSAS) -- to implement green buildings principles in all of their future projects.

Fortune to pump own equity to finish project

Wed, 18 Nov 2009 06:08:55 GMT

Fortune Group, a Dubai-based developer, said yesterday it is putting in its own equity to complete the Fortune Executive Tower in Jumeirah Lake Towers after registering defaults from customers.

Hearing of Nakheel Waterfront?Case Adjourned to December 27

Wed, 18 Nov 2009 06:07:18 GMT

The Court of First Instance on Tuesday adjourned the hearing in Nakheel Waterfront case to December 27 as Mohammed Moustapha, the Egyptian director of the Audit Department at the Ruler's Court, did not show up for giving his testimony.

Court receives papers on Sama Dubai status

Wed, 18 Nov 2009 05:50:33 GMT

A prosecutor yesterday submitted an official letter stating that the funds of Sama Dubai are public and informed the Dubai Appeals Court that five executives of the company charged with financial irregularities are in fact public servants.

Decree on rentals draws cheers in Abu Dhabi

Wed, 18 Nov 2009 05:47:47 GMT

A new Abu Dhabi Government rule that landlords cannot evict law-abiding tenants unless they complete a minimum of five years was welcomed by economists and property sector analysts, who said it will help create a feel good factor in general and give a much-needed fillip to the real estate sector.

Damac issues tender to choose main contractors for Hyde Park

Tue, 17 Nov 2009 15:31:28 GMT

Luxury lifestyle provider Damac Properties has issued a new tender for a first grade main contractor to build 88 Buildings, 320 Villa for the attached villas (town Houses) in its New Cairo's project "Hyde Park".

KMEFIC: Kuwait Real Estate (Nov-09)

Tue, 17 Nov 2009 14:55:00 GMT

KMEFIC l Kuwait Real Estate l Update 1 l November 2009?

In our study of the Real Estate sector, around the globe generally and in Kuwait specifically, we have reached a conclusion that the sector?s outlook in Kuwait is positive and rather promising on the long run. Our outlook assessment was based on a thorough analysis of Kuwait?s market rather than a comparative analysis of other economies in the region. Furthermore, we expect the investment segment of Real Estate in Kuwait to grow market share, along with the commercial sector, while on the other hand, the residential sector will continue to experience shrinkage.

The sector analysis comprises three main sections; economic background, market analysis and outlook assessment. In our assessment we tested key growth drivers for the sector and concluded an outlook slightly bleak compared to 2007 apogee. However, local robust demand along with government support and stable monetary regulations will mitigate the gloomy outlook into neutral to positive.

Dubai Real Estate Market Poised to Shine on Global Cues

Tue, 17 Nov 2009 12:49:05 GMT

With the recession almost out of sight, global investors, from the bourgeois to high net worth investors, are keenly eyeing Dubai for real estate investments, given the Emirate's phase of "relative stability" in prices and affordable housing.

BARWA and Qatari Diar adopt QSAS and implement Green Building principles

Tue, 17 Nov 2009 12:48:10 GMT

BARWA and Qatari Diar have announced their implementation of green building principles by adopting the Qatar Sustainability Assessment System (QSAS) to implement green buildings principles in all of their future projects.

SR3Bn Lamar Towers Project Taking Shape In Jeddah

Tue, 17 Nov 2009 08:22:39 GMT

Jeddah's skyline along the Corniche will have a new dimension with Lamar Towers, described as the Kingdom's first integrated skyscraper project, beginning to take shape.

Emaar Properties Disputes Saudi Ruling

Tue, 17 Nov 2009 07:12:04 GMT

Emaar Properties has filed an opposition against Saudi Arabia's Board of Grievances ruling that reversed an arbitration award in favour of Emaar Properties in a long-drawn legal battle with the Jadawel International Company.

Barwa recovers $40m from South African firm

Tue, 17 Nov 2009 07:04:41 GMT

Some 75 percent of a loan worth $40m the Barwa Real Estate Company gave to a South African firm has been recovered, company's chairman and CEO, Ghanem bin Saad Al Saad said.

Damac to award new contracts for 'further developments' by year end

Tue, 17 Nov 2009 07:03:09 GMT

Damac Properties announced yesterday that it will award new main contracts by the end of 2009 "for further developments".

Dubai Pearl cost estimates fall 30%

Tue, 17 Nov 2009 07:02:41 GMT

The Dubai Pearl project has achieved a 25-30 per cent reduction from the original estimates of costs due to a fall in the prices of construction materials, according to a senior official from its developers Pearl Dubai.

Developments in Abu Dhabi need to be competitively priced

Tue, 17 Nov 2009 07:02:14 GMT

Mid and low-end developments in Abu Dhabi need to be competitive in price to that of Dubai, said Markaz.

DPG offers ready-to-lease villas, apartments at Layan

Tue, 17 Nov 2009 06:28:59 GMT

Dubai Properties Group (DPG) yesterday announced launch of ready-to-lease villas and apartments at Layan in Dubailand.

Landmark Properties gets new CEO

Tue, 17 Nov 2009 06:11:56 GMT

Landmark Properties said it has appointed Charles Neil as its chief executive officer. He currently holds the post of Landmark Advisory's CEO.

Qatari Diar, French Developers Sign Deal

Tue, 17 Nov 2009 04:55:20 GMT

Qatari Diar Real Estate Investment Company, an international leader in sustainable development, announced yesterday the signing of a Memorandum of Understanding with Bouygues Construction SA and Bouygues Batiment International.

Abu Dhabi Extends Safe Period For Tenancy Contracts

Tue, 17 Nov 2009 04:28:26 GMT

Landlords cannot evict law-abiding tenants unless they complete a minimum of five years, as per a new rule announced by the Abu Dhabi government yesterday.

Markaz: Abu Dhabi-Residential (Nov-09)

Mon, 16 Nov 2009 14:39:00 GMT

This is a PDF report.

Bouygues says it wins big contract in Qatar

Mon, 16 Nov 2009 12:26:17 GMT

French construction firm Bouygues Construction said on Monday it had won a 950-million-euro (1.4 billion-dollar) contract in the Gulf state of Qatar to build an office and shopping complex.

Ezdan starts handing over housing units in Village 3

Mon, 16 Nov 2009 07:56:24 GMT

Ezdan Real Estate Company has started contracts signing and giving possession of housing units of "Ezdan 3" Village in Wakra.

Dubai court seeks translated papers in Deyaar 2 case

Mon, 16 Nov 2009 07:36:30 GMT

The Dubai Criminal Court yesterday postponed hearings in Deyaar 2 case to December 13. The court wanted documents presented by a lawyer to be translated.

SMEs in trade, manufacturing and realty face credit squeeze

Mon, 16 Nov 2009 07:34:42 GMT

The economic downturn affected small- and medium-sized enterprises (SMEs) in nearly all sectors but small enterprises in areas of trade, manufacturing and real estate were the worst hit in the country.

KPM Tower payment issue irks investors

Mon, 16 Nov 2009 07:04:06 GMT

Some investors in KPM Tower, a residential project in Dubai Marina, have claimed that the developer is asking them for more money although they have paid more than 30 per cent of the value of their units.

Union Properties Union Properties loss hits Dh152m

Mon, 16 Nov 2009 06:10:19 GMT

Union Properties reported a net loss of Dh152.3 million in the third quarter on lower revenues and provisions.

Nakheel's PJSC Status In Focus At Bribery Trial

Mon, 16 Nov 2009 04:45:46 GMT

A court hearing a case involving former employees of Nakheel yesterday ordered the public prosecution to ask the property developer when it converted into a public joint-stock company.

Abyaar posts KD5m profit

Sun, 15 Nov 2009 05:58:00 GMT

Kuwait-based Abyaar Real Estate Development Company has reported a profit of KD5 million (Dh64m) for the first nine months of 2009, with an earnings per share of 6.90 fils.