Al Batha buys stake in Malaysian realty firm
UAE-based Al Batha Group has acquired 40% of Bukit Kiara Capital Sdn Bhd of Malaysia, a boutique Real Estate Developer, for Dhs44m ($12m). The acquisition, part of a strategic initiative to expand the group's footprints across international markets, will lead to a new Malaysian company under the name of Al Batha Bukit Kiara Holdings Sdn Bhd. The new business entity will undertake property developments in Malaysia where three major projects involving an investment of Dhs1bn are under way. More »
Borrower, Lender Travails Visit Chambers Bank Family
Johnny Chambers sounds weary, a feeling no doubt shared by other Arkansas banking executives battling through tough times. More »
Commerce Arkansas Attracts 900 to Downtown Little Rock
Commerce Arkansas, the first business-to-business showcase jointly sponsored by Arkansas Business and the Little Rock Regional Chamber of Commerce, attracted 900 business representatives to the Statehouse Convention Center last Wednesday. More »
State Bankers Still Eager to Lend
Arkansas financial institutions have money to lend and they want people to know it. And at least one expert thinks that the state's banks can use the nationwide credit crunch as an opportunity to grow. More »
Deposits in Arkansas Show Only Slight Drop Despite ANB's Failure
The 159 individually chartered banks doing business in the state at the end of June held a total of $47.148 billion in deposits, down just under $75 million from the same day a year earlier. More »
Movers & Shakers for Oct. 27, 2008
A look at the movers and shakers across Arkansas for the week of Oct. 27, 2008. More »
New Housing Development Seeks Seniors
The Villas at Northwood Creek will be a new independent living community in North Little Rock for seniors over 55. More »
Baptist State Convention Quarters Sold for $2 Million (Real Deals)
A look at important real estate transactions for the week of Oct. 27, 2008. More »
Judge Urges Settlement in Trial Of Terminella, MNB Lawsuit
Washington County Circuit Court Judge Kim Smith encouraged a last effort at settlement talks after the third day of testimony in the trial between Metropolitan National Bank and Tom Terminella, which began Oct. 20. More »
Enclave of NLR Sets Its Price
The Enclave at the Riverfront, the 260-unit apartment complex at 75 Riverfront Drive in downtown North Little Rock finally sets an asking price. More »
Christus St. Michael Health System to Acquire Wadley Regional Medical Center
Christus St. Michael Health System and Wadley Regional Medical Center, both of Texarkana, announced Wednesday that they had reached an agreement for Christus to acquire Wadley and consolidate the two community health providers into a single system. More »
Arkansas Foreclosure Filings Increase 40 Percent From August to September
Foreclosure filings were reported on 1,620 Arkansas properties during the month of September, up 39.78 percent from the previous month, and up 20.54 percent from September 2007, according to a report released Thursday. More »
Nominations Being Taken for Governor's Work-Life Balance Awards
Nominations are being accepted through Nov. 14 for the seventh annual Governor's Work-Life Balance Awards, organizers announced recently. More »
Arkansas Unemployment Rate Rises to 4.9 Percent
Arkansas' unemployment rate rose one-tenth of a percentage point in September to 4.9 percent, according to the state Department of Workforce Services. More »
MNB: Terminella in Default First
In the first day of the foreclosure-counterclaim trial between Tom Terminella and Metropolitan National Bank of Little Rock, MNB began its attempt to undermine the key claim of the Fayetteville developer. More »
Nakheel opens first on-site sales centre
Dubai-based developer Nakheel is opening its first on-site sales centre at Al Furjan, a new initiative to maximise the first-hand experience for buyers at its developments, the company said in a statement. The sales centre and show villas will welcome both existing and potential buyers to the development, giving them an insight into how the development is progressing and a feeling for the location and ambience of the development. By welcoming visitors on-site, Al Furjan can successfully promote the principles of community living, the basis on which this development is formed. More »
Former Tatweer official arrested
Dubai police have confirmed that they arrested Sami Al Hashemi, former vice-president of Mizin, part of Dubai Government-owned developer Tatweer, 10 days ago over alleged financial irregularities, Gulf News has reported. A source said Al Hashemi had left Tatweer in July and has not been associated with the company since. Al Hashemi, a UAE national, is the latest official detained as part of the government's crackdown against alleged financial wrongdoings. He has not been charged yet. More »
The Wave, Muscat hands over its first homes
The Wave, Muscat recently handed over its first home in Oman's first free hold Integrated Tourism Complex. The Wave, Muscat is being developed through a joint venture comprising Oman's Waterfront Investments (representing the Government of the Sultanate of Oman), National Investment funds Company (representing the Omani Pension Funds), and the UAE-based Majid Al Futtaim Group. More »
Arabtec Q3 net profit up 51%
UAE-based Arabtec Holding has posted a net profit of Dhs256m ($69.70m) in the third quarter, up 51% from the year-earlier period, reported Reuters. The construction company made Dhs761m in the nine months to Sept. 30, compared to Dhs343m in the same period a year earlier. More »
Sorouh triples Q3 net profit
Sorouh Real Estate, one of Abu Dhabi's largest developers, has reported that its third-quarter net profit more than tripled to Dhs760.4m ($207m). The company made Dhs1.74bn in the nine months ended September 30, compared with Dhs773.47m in the same period a year earlier, according to a statement. Sorouh made Dhs216.91m in the third quarter of 2007 and Dhs977.62m in the first half of this year. More »
Arkansas Home Sales Fall 21 Percent in August, Nearly 17 Percent in July
Arkansas home sales in August fell 21 percent from August 2007, according to the latest monthly housing report from the Arkansas Realtors Association. More »
Walker Sworn in as 2009 Arkansas Realtors Association President
Bob Walker of Cabot was sworn in as the 2009 president of Arkansas Realtors Association during the group's 84th annual convention in Little Rock on Sept. 8, the association announced recently. More »
Bahrain property market to grow
DTZ, a real estate advisory firm, has released a report praising the kingdom's prospects for 2008. According to the report, Bahrain's residential real estate sector is set for a successful year fuelled by strong local demand, relaxed foreign ownership regulations, strong levels of liquidity in the regional market and improved financing options. Although more than 90% of those buying property in Bahrain are Bahrainis, the report highlights an increase in non-national investors, mostly from Saudi Arabia. More »
Nakheel profit soars to $771m
Dubai government-owned developer Nakheel has reported that its first-half profit soared to $770.5m on higher sales. Net income in the first half of 2007 was Dhs121.1m ($32.9m), according to a statement on the website of the Dubai International Financial Exchange (DIFX). Revenue from sales to external customers rose almost $6.95bn from 2.17bn in the corresponding period last year, reported Reuters. More »
ACC wins Lamar Towers contract
Lebanon-based Arabian Construction Company has been awarded an SR885m construction contract for Lamar Towers in Jeddah. The project consists of two 60 and 68-storey high residential towers with a 13-storey commercial development curving its way in between. The one-to-four bedroom apartments, three-bedroom lofts, half and full floor penthouses in the residential towers will offer views of the Red Sea. More »