November 5, 2009

The Abu Dhabi Securities Exchange (ADX) closed almost flat yesterday despite relatively high volatility in the market, with leading active stocks in the real estate sector moving in a wide gap.

November 4, 2009

Abu Dhabi The UAE property market, concentrated in Dubai and Abu Dhabi, will likely take "a few years" to recover from the financial crisis, a leading market consultant said yesterday.

November 4, 2009

ABU DHABI // Dubai World, the government-owned ports and property conglomerate, will shift top staff along with property assets valued at billions of dirhams from Nakheel, its property arm, to Istithmar World, an investment subsidiary.
 

November 4, 2009

Nakheel did the master planning for the Jumeirah Lakes Tower (JLT) project, which is fully-owned and managed by the Dubai Multi Commodities Centre Authority (DMCCA).

September 27, 2009

It has now become amply clear on any search engine that many who buy property in Dubai do so with the purpose of letting it out on a short-term basis. 

September 27, 2009

ABU DHABI // Dubai World, the government-owned ports and property conglomerate, will shift top staff along with property assets valued at billions of dirhams from Nakheel, its property arm, to Istithmar World, an investment subsidiary.

September 27, 2009

Arabtec has been awarded the first tower contract for testing foundation works at the Okhta Centre in St Petersburg, according to a senior official. It will sign two further testing contracts by the year end, he added.

September 26, 2009

Dubai: The total value of land transactions in Dubai last week reached Dh680.77 million, of which sales exceeded Dh283.01 million. The total value of mortgages during the period was Dh397.75 million, according to the Land Department.

September 26, 2009

Nearly 80 percent of people believe Dubai’s construction industry will never return to its peaks of 2008 following the impact of the global economic crisis, according to the results of an Arabian Business poll.

Last week, Thomas Barry, CEO of Arabtec, said he thought the emirate’s construction sector would not reach its heady heights again.

Instead, he said the Dubai-based contractor was concentrating on expanding its business in Saudi Arabia and Abu Dhabi, which have been less effected by the global recession.

"We will always bid for projects in Dubai, whatever happens and however limited that may be, but our focus,” he said at the time.

However, some optimism remained with 5.3 percent of AB poll respondents saying they thought Dubai’s construction sector would be back to its peak by next year.

While, 15.1 percent of respondents said the sector would see the market gradually pick up, reaching its peak again in a number of years.

Source: Arabian Business.com

September 26, 2009

In an unexpected move, developers Emaar and Nakheel announced yesterday that they will participate in Cityscape 2009, retracting their earlier statements on September 17, which said they planned to give the event a miss.