Al Burj to shrink?
UAE developer Nakheel has indicated that its planned Al Burj skyscraper may not end up taller than the Burj Dubai. Nakheel CEO Chris O'Donnell told Construction Week that "height isn't everything" and that iconic buildings were more important. The Burj Dubai, being built by rival Emaar, is currently the tallest building in the world and is expected to be over 800 metres when completed. Nakheel's Al Burj tower was rumoured to end up 1200 metres. More »
Tebyan sells IMPZ land
Tebyan Real Estate Development said it has sold its project land at the International Media Production Zone in Dubai to a leading developer. Tebyan launched its $545m Europa Greens residential project in January 2007. It was described as comprising 40 buildings of five to 18 levels offering apartments townhouses and penthouses. More »
Sakana, Durrat finance
Sakana Holistic Housing Solutions will be offering shariah-compliant finance for property purchases at Durrat Al Bahrain. The lender will offer finance up to around $2m on terms of up 30 years. Bahrain residents can qualify for finance to a maximum 90% of the property value, GCC residents 80% and international investors 70%. More »
Construction gets tax break
Qatar's construction industry is likely to receive a boost after the government exempted basic building materials such as cement, steel and gravel from customs duty, the Peninsula reported. While the move was roundly praised, the Qatar Chamber of Commerce and Industry said the law should go further, calling for a wider range of key building materials to be given tax exemption. More »
$2bn Yenkit resort unveiled
A $2bn integrated tourism resort is to be built in Yenkit, Oman. The project will be developed by Yenkit Tourism Development, a joint venture of Majid Al Futtaim Group and a group of Omani investors, the Oman Daily Observer reported. The complex will have four five-star hotels, 1,400 residential villas, and up to 1,900 residential apartments and townhouses, as well as a range of sporting and leisure facilities. Construction is due to commence in early 2008. More »
Lee home sales down another 37 percent from a year ago
What goes up must come down. Despite positive economic times, homes sales in Lee County and throughout Florida are down once again. In Lee County, single-family home sales were down 37 percent in June with 558 sales compared to 891 a year ago. The median price of homes in Lee County dropped 5 percent to $253,900 compared to $268,000 in June of 2006. More »
Three models open in Cobalt Cove at the Quarry
Three designer-decorated models have opened in the single-family home neighborhood of Cobalt Cove at The Quarry, a gated Centex Homes golfing community in northern Naples. The models are the Catamaran, Meridian and Windjammer. More »
Real estate news in brief: Staff appointments, sales leaders
A list of recent real estate staff appointments and sales leaders. More »
Real estate news in brief: Construction rates, sales rates
A list of recent real estate construction rates and sales rates. More »
More Aurora, Excel awards reported
The Riha Design Group Inc. of Naples won several Aurora and Excel Awards not mentioned in an article in the Sunday, July 22 edition. These awards were presented by the Florida Home Builders Association and the Southeast Building Conference. More »
Model of the week: Grande Phoenician 1404 features contemporary interior design, water views
Residence 1404 is a decorator-furnished model in the Grande Phoenician, the third luxury tower in the Grande Preserve neighborhood at The Dunes, a master-planned North Naples waterfront community developed by Signature Communities Inc. More »
Wall Streeter's entities buy $70 million in land
Trusts and partnerships linked to billionaire hedge-fund manager Bruce Kovner paid about $70 million earlier this year for a swath of oceanfront properties in Californiað# Santa Barbara County. Taken as a whole, the purchases of 12 adjacent acres, in February and March, are believed to rank among the largest U.S. residential real-estate deals. More »
Some like it hot
Aside from being Oregonð# capital city, Salem doesnð$ have much to boast about. Most downtown restaurants close by 7:00 p.m. and Leftyð# ðÐthe only cool bar in town, according to local college students ðÐis known for its karaoke fundraisers. But the real estate market here is buzzing. For-sale signs litter front yards and the local paper is fat with ads for homes. More »
South Lee real estate transactions: July 28, 2007
The following property transactions were reported in San Carlos Park and south Fort Myers by the Lee County Property Appraiserð# Office from July 16-20. More »
Richard White: Maintenance, improvements confuse members
Q. I write the newsletter for our community and want to be sure I have my facts straight. Can you tell me where the line is drawn between a maintenance expense and that of an improvement? A. The difference is often misunderstood by owners. Think of improvements, called capital improvements, as an addition to the common area property that did not exist previously or services that were not provided in the past. More »
Real estate transactions: July 29, 2007
A list of recent real estate transactions in Southwest Florida. More »
CORRECTED: Things go from bad to worse for U.S. home builders (Reuters)
Reuters - The slaughterhouse that has been the U.S. housing market for the past few months got bloodier on Thursday as several industry leaders reported worse results, June home sales fell more than expected and stocks throughout the sector hit multiyear lows. More »
Rates on 30-year mortgages dip slightly (AP)
AP - Rates on 30-year mortgages dipped slightly this week as evidence grew of more troubles in the slumping housing market. More »
Wall St. plunges on credit fears; Dow sinks two percent (AFP)
AFP - US shares plunged Thursday in one of the worst selloffs this year, as investors gripped by housing market and "credit crunch" fears ran for cover. More »