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DIFC fund backs Dubai Pearl with Dhs3bn investment
The investment wing of the Dubai International Financial Centre (DIFC) announced during Cityscape that it would invest Dhs3bn in the Dubai Pearl project, its first major foray into the emirate's property market.
New town planned for Jeddah
Dar Al Arkan launches its latest development this Saturday, in Jeddah on the Red Sea coast of Saudi Arabia. Called Qasr Khozam, it is in a 4 million square metre area of land that also incorporates the palace of the late King Abdulaziz bin Al Saud.
Durrat Al Bahrain villa handover close
Residents will be able to move into their homes on Durrat Al Bahrain, the man-made offshore islands in Bahrain, by the end of this year.
Rotating building set to make heads turn in Dubai
The developer of a rotating residential building that is to be built in Dubai revealed the details of its design for the first time today at Cityscape.
Emaar top brand for Gulf property buyers
Emaar has been named as the top developer in the Gulf region, coming top as the most recognised brand, the developer of preference and the company most people wanted to buy a home from.
Burooj launches two Reem Island towers
Abu Dhabi-based developer Burooj has launched two residential towers on Al Reem Island. The Crystal will have 322 apartments while the Terraces will have 270 units.
New rules will help boost Dubai's timeshare industry
Dubai will soon enact 'responsible' legislation regulating the timeshare industry in the emirate that will bring greater credibility to the market and benefit both consumers and operators, said an expert today at the Cityscape conference.
Abyaar launches new identity
Kuwaiti property developer Abyaar has unveiled its new corporate image and company slogan at Cityscape Dubai. The company has also profiled three new developments with a combined value of Dhs4bn and launched sales of units at its Pier 8 project.
Dubai not 'insulated' from property slowdown
The CEO of Shaikh Holdings, the developer of Sanctuary Falls on the Jumeirah Golf Estates, believes the property market in Dubai will experience a price correction, as the cost of property exceeds what many people can afford to pay.
Dubai Properties Group launches asset management division
Dubai Properties Group has announced the official launch of Dubai Asset Management (DAM), its direct subsidiary, at the second day of Cityscape Dubai. The group will begin operations immediately.
Saudi Arabia a 'sleeping' property giant
The organisers of Cityscape believe that Saudi Arabia is the property 'sleeping giant' of the Middle East, with some $260bn new cities underway or in the design stage.
Nakheel Tower to eclipse Burj
Nakheel has unveiled the centre-piece of its newest planned development, the Nakheel Tower, the focal point of the Nakheel Harbour and Tower project. Estimates put the Nakheel Tower, which will soar up to a height of 1,000 metres, at 200 metres above Emaar's Burj Dubai tower.
Tameer unveils 120-storey 'green' tower
Tameer unveiled its latest project today at Cityscape, the 120 storey Anara Tower, on Sheikh Zayed Road, close to Dubai Marina and Palm Jumeirah. Designed by renown green architects, Atkins, the tower is a mixed use development that Tameer said would also be environmentally friendly.
Dubai confidence remains high as Mudon properties launch
Dubai Properties has said that consumer confidence in the property market in Dubai remains high, despite weakening economies around the globe. Speaking at the sales launch of the first properties from its Mudon development, the company said the market in Dubai was now beginning to mature and that sales continue to be steady.
World's tallest twisting tower to be delayed
The completion date for the construction of the 80-storey Infinity Tower in Dubai, which will be the highest twisting tower in the world, has been pushed back to 2011, according to a press release by Drake & Scull. The skyscraper, which is under construction at Dubai Marina, was originally slated to be completed in 2010. No reason was given for the delay.
