One of the leading real estate developers in Abu Dhabi, Sorouh Real Estate PJSC has awarded the main infrastructure contract for Alghadeer project, as its development enters into the next phase, he

Property prices in Dubai record 47 percent fall in Q3 -12/12/2009
Residential prices are now increasing in majority of locations across the globe, with nearly 70 percent of the locations in the Knight Frank Global House Price Index reporting growth in the third quar

Dubai office rents remain stable last month -3/12/2009
Rent decline has been continuing its breather in Dubai, with the residential and commercial rents remaining static in November, as revealed by Asteco, the property management company.

The survey

Land Department links real estate sector with Strategic Plan 2015 -26/11/2009
The Dubai Land Department has launched a strategic plan aimed to align the future of the real estate sector with the objectives of Strategic Plan 2015.

The strategic plan has a vision, which, a

Nakheel confirms handover of Marina Residences by month-end -16/11/2009
Leading property developer, Nakheel, has confirmed handover of its Marina Residences at Palm Jumeirah by the end of the month, despite the current oversupply in residential market.

Being a water

Burooj to develop properties for mid-income sector -9/11/2009
The real estate branch of Abu Dhabi Islamic Bank (ADIB), Burooj Properties, and the developer behind multiple realty projects in the Middle East and UAE, held its annual strategic planning workshop, f

Al Faraa delivers completed LGC project at Jumeirah -7/11/2009
The member of Al Faraa Group, Al Faraa Properties has delivered the Dh.225mn Le Grand Chateau (LGC) project at the Jumeirah Village, one of the first developers to allow residents at the Jumeirah Vill

Bawabat Al Sharq in Bani Yas City 40 percent complete -1/11/2009
Baniyas Investment and Development Company (BID), the investment arm of Bani Yas Sports Club has announced that the first phase of construction of the Dh3bn world-class, mixed-use development under co

Bloom Gardens project wins CNBC Arabia Property Award 2009 -24/10/2009
Bloom Gardens, the iconic real estate development by Bloom, the Abu Dhabi-based developer of property and lifestyle solutions, has won the CNBC Arabian Property Award 2009 for the Best Residential Dev

Abu Dhabi studying plans for 224-storey skyscraper -27/9/2009
The conceptual design for 224-storey skyscraper is currently under consideration by Abu Dhabi Planning Committee, noted the leading architect, who created the design.

The Santa Monica-based Tomm

Mayfair extends subscription-deadline for distressed property funds -27/9/2009
Cayman Islands-based wealth management company, Mayfair Wealth Management is extending the subscription deadline for its $50mn Shariah-compliant distressed property fund, which seeks to acquire cheap

50 percent of foundation works at Dubai Pearl completed -18/9/2009
A leading real estate developer in the UAE, Pearl Dubai FZ LLC, has announced 50 percent completion of the foundation works of its prestigious Dubai Pearl development, with the completion of raft pour

Dubai property sector to get stronger and more sustainable -18/9/2009
The correction in property prices in Dubai will make real estate sector stronger and more sustainable, when recovery takes place, states leading property developer, Memon Investments.

The global

Rating of Emaar upgraded by EFG-Hermes -25/8/2009
EFG-Hermes, the leading financial services company, has upgraded Emaar Properties to neutral from reduce rating in the short-term, pointing out that the company showed better-than-expected second quar

Dubai realtors revenues drop by half -25/8/2009
The revenues of realtors in Dubai have reduced by half over the past one year, compelling them to cut costs in the best possible manner, including layoffs.

Large and small property brokerages have r

Dubai Holding announces consolidation -20/8/2009
In its latest attempt to cope with the impact of economic crisis, the Dubai Holding has announced that it plans major re-organizing of big Gulf businesses.

The state-owned firm has revealed that

Al Hilal acquires commercial plot on Sowwah Island -13/7/2009
Al Hilal Bank has announced on Sunday that it has purchased a commercial plot on Sowwah Island, the core of new Central Business District in Abu Dhabi.

Recently classified as the emirate’s newes

Ebony, Ivory towers construction in progress -17/6/2009
Construction on Ebony and Ivory towers in Dubai has commenced, reports The National. The work on the site had not been making any progress lately, and, the investors were in dispute with the developer

Housing prices to plunge another 20 percent in 2009 -16/6/2009
Housing prices in Dubai will fall by another 20 percent this year, and has only 20 percent chance of picking up before 2011, reveals the latest Reuters poll results by ten analysts at Banks, investmen

Dubai retail sector may see tough times ahead -10/6/2009
The malls in Dubai are likely to see tough times ahead, if the landlords continue to stop re-negotiating high rents, said the Managing Partner of the Dubai-based Rivoli Group.

Speaking during th

Dubai Housing Prices witness huge decline in first quarter -1/6/2009
The prices of housing in Dubai suffered the biggest decline among global property markets during the first quarter, owing to economic crisis.

The British real estate brokerage, in its study rele

Jumeirah Village projects well on-track -22/5/2009
Leading Dubai-based private developer, Damac Properties, has confirmed that work on all three projects at the Jumeirah Village South – Emirates Gardens II, Emirates Gardens and Tuscan Residences are p

Dubai rents plunge 23 percent -11/5/2009
Rents in Dubai have plunged 23 percent this year, and are likely to drop further during summer, although the updated index is yet to be out, say property experts.

Average rents in Dubai have fal

Omniyat Properties rents out parking lots -5/5/2009
In a bid to generate more revenue, Omniyat Properties, the property arm of Omniyat Holdings, has announced plans to rent out 4000 or more parking spaces in its commercial towers across the Business Ba

Leading Dubai property developers records decline in profits -1/5/2009
Largest Dubai-based developer, Emaar Properties have reported a 73 percent decline in first quarter year-on-year profits, with a net profit of only Dh237mn achieved during the first quarter of this ye