News feed from www.arabianbusiness.com
Dubai's office market set to bottom out in 2012
Royal Institution of Chartered Surveyors survey says prices set to stabilise by year-end
Royal Institution of Chartered Surveyors survey says prices set to stabilise by year-end
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Dubai Courts to hear Nakheel disputes
Cases will no longer be heard at specifically-formed Dubai World Tribunal
Cases will no longer be heard at specifically-formed Dubai World Tribunal
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First residents move into Abu Dhabi’s Saadiyat beach villas
Keys to 254 villas hand over to owners as phase on of development wraps up
Keys to 254 villas hand over to owners as phase on of development wraps up
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Dubai villa rents post first rise since 2008-09
CB Richard Ellis says prime location villas post average 3% increase in first quarter
CB Richard Ellis says prime location villas post average 3% increase in first quarter
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Kuwait's KFH inks $42.5m Canada property deal
Kuwait Finance House acquires 146-unit residential development in Ottawa
Kuwait Finance House acquires 146-unit residential development in Ottawa
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News feed from www.zawya.com
Saudi-UK 100 m pound fund closes with first real estate transaction
Sidra Capital (Sidra), a CMA regulated Shariah-compliant financial services company based in Saudi Arabia and Gatehouse Bank (Gatehouse), an FSA regulated UK-based Shariah compliant bank specializing in UK real estate, have announced the first closing of The Sterling United Kingdom Real Estate Fund (SURF) and their first property acquisition in Cambridge, UK at 23.55 million pounds.
Sidra Capital (Sidra), a CMA regulated Shariah-compliant financial services company based in Saudi Arabia and Gatehouse Bank (Gatehouse), an FSA regulated UK-based Shariah compliant bank specializing in UK real estate, have announced the first closing of The Sterling United Kingdom Real Estate Fund (SURF) and their first property acquisition in Cambridge, UK at 23.55 million pounds.
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Dubai courts to hear legal cases against Nakheel
The Legal Affairs Department of the Dubai Government said Dubai Courts will hear cases involving Nakheel and its subsidiaries, following Nakheel’s separation from Dubai World which took place on August 23, 2011.
The Legal Affairs Department of the Dubai Government said Dubai Courts will hear cases involving Nakheel and its subsidiaries, following Nakheel’s separation from Dubai World which took place on August 23, 2011.
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الدار تسليم مشروعي "الزينة" و"المنيرة" في يونيو 2012
تقدر تكلفة المشروعين 15 مليار دولار، وفقا لزاوية بروجيكت.
تقدر تكلفة المشروعين 15 مليار دولار، وفقا لزاوية بروجيكت.
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الدار تٌنهي مشروعي "وترورلد أبوظبي" و" ياس مول" قبل نهاية 2013
وفقا لزاوية بروجيكت، تبلغ تكلفة المشروع نحو 165 مليون دولار.
وفقا لزاوية بروجيكت، تبلغ تكلفة المشروع نحو 165 مليون دولار.
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Mulk Holdings to invest USD1bn on expansion
Mulk Holdings, a Sharjah-based multinational company, is pursuing an aggressive expansion drive by investing over USD 1 billion in key projects in the GCC, Europe, Russia, Turkey and India during the next three years.
Mulk Holdings, a Sharjah-based multinational company, is pursuing an aggressive expansion drive by investing over USD 1 billion in key projects in the GCC, Europe, Russia, Turkey and India during the next three years.
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News feed from www.ameinfo.com
Dubai courts to consider legal cases as Nakheel stands alone
The legal affairs department of the Dubai government has said Dubai Courts will hear cases involving Nakheel and its subsidiaries, following the separation of the developer from Dubai World on August 23, 2011, Gulf News has reported. By virtue of the restructuring of Dubai World, which led to the separation of Nakheel and its subsidiaries, any cases involving Nakheel or any of its subsidiaries as a party will now come under the jurisdiction of the Dubai Courts or the alternative competent dispute resolution forum." The department said.
The legal affairs department of the Dubai government has said Dubai Courts will hear cases involving Nakheel and its subsidiaries, following the separation of the developer from Dubai World on August 23, 2011, Gulf News has reported. By virtue of the restructuring of Dubai World, which led to the separation of Nakheel and its subsidiaries, any cases involving Nakheel or any of its subsidiaries as a party will now come under the jurisdiction of the Dubai Courts or the alternative competent dispute resolution forum." The department said.
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Egyptian Resorts posts EGP5.5m loss
Egyptian Resorts has reported a loss of EGP5.5m in the first three months of the year, compared with a profit of EGP1.3m in the same period of 2011, Reuters has reported. The real estate sector has been hit by the political and economic turmoil that followed the overthrow of president Hosni Mubarak in 2011. Egyptian Resorts has not sold any land to developers since the third quarter of 2008.
Egyptian Resorts has reported a loss of EGP5.5m in the first three months of the year, compared with a profit of EGP1.3m in the same period of 2011, Reuters has reported. The real estate sector has been hit by the political and economic turmoil that followed the overthrow of president Hosni Mubarak in 2011. Egyptian Resorts has not sold any land to developers since the third quarter of 2008.
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Egypt's Sodic appoints ex-regulator as new chairman
Egypts former top financial regulator, Hani Sarei-Eldin has been named by property developer Six of October Development and Investment (Sodic) as its new non-executive chairman, Reuters has reported. Sarei-Eldin was chairman of the Egyptian Capital Market Authority for two terms until 2007. "Dr Sarie-Eldin brings with him a wealth of experience and expertise through his legal and regulatory background and his intensive knowledge of the real estate and finance industries," Sodic said.
Egypts former top financial regulator, Hani Sarei-Eldin has been named by property developer Six of October Development and Investment (Sodic) as its new non-executive chairman, Reuters has reported. Sarei-Eldin was chairman of the Egyptian Capital Market Authority for two terms until 2007. "Dr Sarie-Eldin brings with him a wealth of experience and expertise through his legal and regulatory background and his intensive knowledge of the real estate and finance industries," Sodic said.
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Drake & Scull's Q1 profit falls 18%
Dubai-based construction firm, Drake & Scull International (DSI) has posted an 18% fall in quarterly profit, falling short of analysts' estimates, due to higher costs, Reuters has reported. The MEP firm made a first-quarter net profit of Dhs37.6m ($10.24m) in the quarter ended March 31, down from Dhs45.9m in the year-earlier period. Analysts had forecast average quarterly profit of Dhs56.5m.
Dubai-based construction firm, Drake & Scull International (DSI) has posted an 18% fall in quarterly profit, falling short of analysts' estimates, due to higher costs, Reuters has reported. The MEP firm made a first-quarter net profit of Dhs37.6m ($10.24m) in the quarter ended March 31, down from Dhs45.9m in the year-earlier period. Analysts had forecast average quarterly profit of Dhs56.5m.
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Egypt's Palm Hills posts $2.7m net loss in Q1
Egypt's second-largest listed developer, Palm Hills has reported a net loss of EGP16.3m ($2.7m) in the first quarter of 2012, Reuters has reported. The luxury real estate developer had posted a net loss of EGP36.2m in the same period a year earlier.
Egypt's second-largest listed developer, Palm Hills has reported a net loss of EGP16.3m ($2.7m) in the first quarter of 2012, Reuters has reported. The luxury real estate developer had posted a net loss of EGP36.2m in the same period a year earlier.
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