[Nakheel , Rentals]
Posted
Jun 15, 2010 3:43:54 AM
by Wyne
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Nakheel asks Property Tenants to pay Chiller Cost: According to certain reports, the tenants residing in the Nakheel property, Discovery Gardens have been demanded by their owners to incur the costs of using the chillers. This scenario has arisen because of the continuously declining rent rates.
One of the residents, who has rented a one-bedroom unit in the Nakheel construction, has told that ...
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[Trends , News]
Posted
Jun 15, 2010 3:40:47 AM
by Wyne
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UAE Economy To Showcase 4% Growth In 2010: Sultan bin Nasser Al Suwaidi, the governor of the Central Bank of UAE, who was addressing the media on the margins of the World Islamic Banking Conference, mentioned that the economy of the nation is expected to grow by about 4% over 2010 and 2011. “Average growth for the two years [2010 and 2011] is around four per cent and it is expected”, he said.
Sultan ...
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[Abu Dhabi , Law]
Posted
Jun 14, 2010 4:29:25 PM
by bletHita
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Abu Dhabi to use stricter actions against Illegals: Abu Dhabi Government officials and experts have sounded the alarm bell about the dangerous impact of violators of immigration and labour laws on the social, economic and security fabric, according to a report released by the security media of the Ministry of Interior (MoI) on Sunday.
The Ministry of Health has warned of health risks the law breakers ...
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[Dubai , Record Setters]
Posted
Jan 4, 2010 12:12:16 PM
by Admin
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Burj Dubai renamed Burj Khalifa: His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, renamed Burj Dubai as Burj Khalifa on Monday evening.
Unveiling the world’s tallest tower, Shaikh Mohammad said, “We built the high rise for people with strong will and determination. The highest point in the world should be linked to the big names ...
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[Emaar , Profit/Loss]
Posted
Oct 31, 2009 1:16:38 PM
by Jun
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Emaar Properties on Thursday said it has returned to profitability, reporting a Dh655 million net profit for the third quarter ending September 30 from the sale of high-margin properties as well as earlier delivery of villas, up from a Dh1.25 billion loss in the second quarter of this year.
"The increase in profitability is due to the higher margin relating to Alma townhomes in Arabian Ranches ...
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[Dubai , News]
Posted
Oct 31, 2009 1:12:50 PM
by Jun
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Joan A., 61, a pensioner from South Africa, said she paid a total of Dh95,840 to Avanti Holding between December 2007 and May 2008 for a unit at The Palisades, a Pearl Properties project in Dubai. Her payments represent 20 per cent of the unit price.
But for the last few weeks, the agents have ignored her phone calls and e-mail queries regarding the delay in construction.
"With the extent ...
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[Dubai , Exhibitions]
Posted
Sep 22, 2009 3:11:57 PM
by Wyne
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Nakheel & Emaar to participate in Cityscape Dubai: Following talks with the organizers of Cityscape, largest business-to-business real estate investment and development exhibition, state-owned master developer Nakheel has agreed to participate in Cityscape Dubai. The announcement was followed by a similar change of mind from Emaar Properties, which said its decision "follows discussions with ...
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[International , News]
Posted
Sep 22, 2009 3:08:16 PM
by Wyne
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The recovering housing market may be heading for a relapse as President Barack Obama and Federal Reserve Chairman Ben Bernanke consider ending support for the source of the global financial crisis.
The Obama administration is studying whether to let a first-time home buyers' tax credit expire as scheduled at the end of November. Bernanke and his Fed colleagues may continue talking this week about ...
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[Construction , News]
Posted
Sep 20, 2009 12:07:54 AM
by chiropractor
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UAE construction activity staging steady recovery: Construction activity is gradually picking up in the UAE as a leading building material importer and distributor group has witnessed 20 per cent growth this year.
"Despite the global economic crisis, our group has recorded 20 per cent growth in terms of sales and demand for building material supplies," said Mian Mohammad Muneer, CEO ...
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[International , Studies/Reports]
Posted
Sep 20, 2009 12:03:42 AM
by Anonymous
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Recession deals body blow to big brands: Consumers lost trust in brands this year as the recession deepened, according to an industry report released Thursday, although longtime staples Coca-Cola and IBM retained their spots as the world's two most valuable brands.
This is the first time the combined value of the world's top 100 brands as ranked by Interbrand, a branding agency, has fallen in the ...
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[Dubai , Land Deals]
Posted
Sep 18, 2009 2:48:46 PM
by Jun
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Dubai Land transactions touch Dh1.75b: The total value of land transactions in Dubai last week reached Dh1.75 billion, of which sales exceeded Dh956.07 million. The total value of mortgages during the period was Dh798.90 million, according to the Land Department.
A total of 39 sale transactions were registered with the department by the end of the week, the most valuable of which was a plot in ...
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[Nakheel , Business]
Posted
Sep 18, 2009 2:48:40 PM
by Jun
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Dubai: Four executives of developer Nakheel are being transferred to Istithmar World as part of what Dubai World terms an ongoing organisational restructuring process within the group.
Restructuring will occur in selected hotel and real estate assets and the related management teams, primarily in international markets, with staff transferring to Istithmar World.
Hamza Mustafa will join Istithmar ...
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[Abu Dhabi , Studies/Reports]
Posted
Sep 17, 2009 9:04:13 PM
by Anonymous
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Abu Dhabi real estate outlook positive: The demand for residential accommodation in Abu Dhabi continues to remain strong due to the current lack of new supply.
However, the knock-on effect of lower rents in Dubai could precipitate a supply-demand driven market correction as more residents and businesses choose Dubai over Abu Dhabi, says EFG-Hermes in its latest report on the UAE's real estate and ...
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[Dubai , Trends]
Posted
Sep 17, 2009 9:04:04 PM
by Anonymous
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Dubai: Signs of internal migration are likely to appear in Dubai, with affordable properties the name of the game and a more realistic approach by developers, senior officials say.
Property prices in Dubai have already corrected by about 50 per cent since the peak of activity in 2008.
Adel Lootah, executive director of the Dubai Property Society (DPS) told there would be an "internal migration" ...
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[General , News]
Posted
Sep 16, 2009 8:51:30 PM
by Anonymous
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UAE aims to sustain growth: The government's consideration of various propositions to sustain economic growth is crucial for the stability and progress of the country.
This will not only ensure that the country builds on what it has achieved thus far, but also minimise repercussions caused by the global financial crisis.
A senior official has said the government is looking into as many as 50 ...
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[Freehold , Construction]
Posted
Sep 16, 2009 12:49:58 AM
by Admin
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Anantara speeds ME expansion but JLT Project on hold: Bangkok-based Anantara Hotel Group, a major brand in the luxury hotel sector, is expediting its expansion in the Middle East and North Africa (Mena) region.
Anantara's second hotel in the UAE will be ready to launch by the end of October, and new projects in Oman and Morocco are on track. However, the company's huge hotel and office complex ...
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[RAK , News]
Posted
Sep 15, 2009 8:59:55 PM
by Anonymous
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Rakeen completes model units of Bab Al Bahr in Ras Al Khaimah: Rakeen, one of the most dynamic property developers in Ras Al Khaimah, has completed a comprehensive overhaul of the model apartments for Bab Al Bahr, a value-added offering that gives clients a preview of the actual features, amenities, layout and ambience of their dream homes. The model 1 and 2-bedroom units, which are conveniently located ...
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[Dubai , Construction]
Posted
Sep 14, 2009 3:47:18 PM
by zq
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Dubai Pearl - 50% foundation works complete: Pearl Dubai, a leading real estate developer in the UAE, has announced the completion of 50% of the foundation works in the prestigious Dubai Pearl development with the completion of the raft pouring in the South Tower on the project. The South Tower has a foundation slab that is 3.25 m thick and 3,072 sq m in total area. Juxtaposed against the 8.07 m excavation, ...
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[Ajman , RERA]
Posted
Sep 13, 2009 8:49:02 PM
by Wyne
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Ajman's Real Estate Regulatory Authority (ARRA) will finalise the establishment of a legal committee including a property court in the next two months, to help settle disputes, a senior official told.
The committee involves representatives from various departments at both the local and federal government level, said Omar Barghouthi, director-general of ARRA.
"We are waiting to unify the ...
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[Dubai , News]
Posted
Sep 12, 2009 8:50:01 PM
by Anonymous
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Dubai: The real estate sector, the first sector to fuel the country's recent economic growth, will probably be the last in the recovery wheel, senior government officials said.
"The recovery path of [the] real estate sector is very slow and will not start before the end of 2010," Dubai Police chief Lt General Dahi Khalfan Tamim said at a Ramadan majlis.
He identified greed and irresponsible ...
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