2003
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Palm Jumeirah takes final shape
Reclamation work at Palm Jumeirah in Dubai is almost complete, said company officials. Reclamation work on the second of the two Palms is well underway. Palm Jumeirah and Palm Jebel Ali are being developed by Nakheel and offer freehold ownership to both commercial and residential investors.
Urban development exhibition
An exhibition featuring urban development in contemporary cities will take place on the sidelines of the first International Conference on Architectural Conservation, which is organised by Dubai Municipality at DWTC from March 14-16. The meet is supported by Unesco and Arab Urban Development Institute and sponsored by Emaar.
2m sqft retail space coming up
Three residential districts along with 2m sqft of retail space will be created at Dubai Festival City during the frst phase of the development, Khaleej Times said. The 16-project development will take 10 years. The first and core project, Crescent, will start taking shape by next year.
Emaar plans USD50m Ijara Sukuk
Emaar Properties is to launch a USD50m Ijara Sukuk facility to finance its expanding portfolio and its mortgage subsidiary Amlak. The five-year notes will be issued on Bahrain Stocks Exchange. Liquidity Management Centre will arrange th edeal while LMC Emaar Sukuk will act as issuer.
Indians respond to UAE properties
UAE property developments being showcased at UAE Trade Expo in Mumbai have evoked strong response with an individual customer picking up a mixed bag of Emaar properties for USD10m. The buyer, who was not named, brought apartments and villas at Dubai Marina and Arabian Ranch.
FPDSavills to market IFA Palm units
Kuwait's IFA Hotels and Resorts, has appointed FPDSavills as UK property agent for its projects at The Palm Jumeirah. It covers The Palm Residence, a beachfront enclave of 248 super-luxury 1, 2 and 3-bedroom flats, and the Souq Palm and Souq Residence, a complex with 200 apartments and 60 boutique shops adjoining the IFA Palm Hotel and Resort, with 300 rooms and 460 suites.
UAE approves ministeries complex
Final designs of a USD79m federal ministeries complex in UAE capital of Abu Dhabi has been approved. The 1 sq km complex will house 16 ministeries and will have a conference centre, an exhibition hall and a training centre. It will be completed in two years.
Nakheel turns towards India
Dubai's Nakheel has turned its attention towards the Indian market and is offering the entire range of its portolio at the UAE Trade Exhibition in Mumbai which runs from October 21-24. Its developments include the Palm, the World, Jumeirah slands, Jumeirah Lake Towers and the Gardens.
Emaar targets Indian market
The buoyant Indian market represents a key focus area for Emaar Properties, company officials said. Emaar will promote its major residential and commercial projects at a UAE expo in Mumbai from October 21-24. The Gulf-based Indian community is a major buyer segment in Emaar developments.
Planters bags UK landscaping award
Interiors and landscaping firm, Planters, has won its second British Association of Landscape Industries award, for its landscaping project at JW Marriott Hotel in Dubai. The first award was won by the Dubai-based firm for work done at UAE Armed Forces Officers Club in Abu Dhabi.
BFH promoted at London expo
USD1.3bn Bahrain Financial Harbour will be showcased to a global audience in London at the Waterfront Expo. Work is underway at the 'Canary Wharf of the Gulf' which includes two towers to house the financial community and the Bahrain Stock Exchange.
Tallest residential tower in Dubai
Dubai's Al Rostamani Group claims to have built the world's tallest residential tower, 21st Century Tower, which it says is the world's 52nd tallest building at 269 metres. The Abu Dhabi Road property is said to have edged out Tower G in Seoul and Trump World Tower in New York to occupy the top residential tower spot.
USD1bn RAK project coming up
USD1bn Noor City in Ras Al Khaimah will offer 5,500 apartments, 1,300 villas, seven beach resorts as well as other mini-township facilities. Its masterplan will be ready by February. Completion of the 350 hectare development will take about three years. It is promoted by UAE-based Awan Investment.
Dubai Marina targets London meet
Dubai Marina will be marketed to a global audience by promoter Emaar Properties at the Waterfront Expo 2003 to be held in London from October 21-23. There is a forum alongside of the show where the Mideast's prime waterfront development will be highlighted, officials said.
Saudi developer showcases projects
Major Saudi developer Al Oula Development, has offered several of its properties at Cityscape in Dubai. These include landmark projects such as Jeddah Lands, Sauq Al Oula, Ajyaal Shares Project, Al Diyar, Al Zumurd, Oula Al Shatee, Al Thuraya and Al Oula Towers.
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