Real Estate News
Al Jabal opens Abu Dhabi office
Al Jabal Holding is opening an Abu Dhabi property branch under the banner of Al Jabal Real Estate. The division is looking to capitalise on the growth rate predicted in the emirate's property market over the coming decade. More »
Dubai offplan registration extended
The deadline for developers whose Dubai projects were launched prior to the introduction of Law 13 to register their offplan sales has been extended. The original date of the first week of November has been pushed back to the end of the year. Beyond this developers will face penalties for non-registration. More »
Premier Twin Towers launched
Premiers Property Developers, a part of Premiers Group, is launching Premiers Twin Towers, a project worth Dhs1bn situated in Jumeirah Village Circle, in Dubai. The Premiers Twin Towers residential and mixed use development will be made up of 33 residential floors. The project is scheduled for completion by mid 2011. More »
Orascom shares tumble
Shares of Orascom, Egypt's largest builder by market value tumbled 9.35% to 184.99 Egyptian pounds ($33). The benchmark CASE30 shed 3.50% to 4,716.25 points. At last Wednesday's close, Orascom had fallen 35% during the year to date, compared to 54% for the index More »
Landmark Bahrain wins award
Bahrain based real-estate company, Landmark Bahrain has been awarded the CNBC prize for best real-estate marketing agency. Company director, Mohammed Younis Shafi, received the award from Abdulfattah Sharaf, chief executive officer, personnel financial services, HSBC Bank, Middle East Ltd, in Dubai at a recent function attended by property-market players from 13 Arab countries. More »
New city development for Qatar
Barwa Al Khor, a subsidiary of Barwa Real Estate and a leading master developer has unveiled its flagship project Urjuan, a QR35bn (Dhs35bn) integrated city development located in Al Khor. The 5.5 million square metre city development will accommodate more than 63,000 residents upon its completion by 2013. More »
Deyaar eyes global expansion
Deyaar, the real estate subsidiary of Dubai Islamic Bank, is looking at developing master-planned communities and expanding globally. 'The current financial crisis provides the right opportunities for organisations like us to expand and benefit from the low asset prices,' said Markus Alexander Giebel, Deyaar's new chief executive. 'It is our aspiration to have 50% of our build-up area in markets, such as Kazakhstan, Jordan and Europe within a year.' More »
Emaar Economic City reassesses plans
Emaar The economic City announced yesterday that it will re-study its projects in light of world economic crisis. The company also said that it will reduce its dependence on banks for financing. Emaar is undertaking a number of major projects with Saudi firms in King Abdullah Economic City, with investments of more than SR100bn which includes a major port, hotels, and resorts. More »
Barwa Q3 profit declines
Qatar-based Barwa Real Estate Company has registered a QR299m 3rd quarter net profit compared to QR326m recorded over the same period during 2007. Meanwhile, the company's total assets had increased 63% to QR25.8bn from QR15.8bn in 31 December 2007. More »
Suits in Shale Play May Set Precedent On Eminent Domain
A case that the Arkansas Supreme Court will likely hear could determine whether companies installing pipelines for transporting gas from the Fayetteville Shale Play have the power of eminent domain. More »