2004
- The news you choose »
- Login to Add to Watchlist
RAK Ceramics, USD100m plant
Ras Al Khaimah Ceramics has commissioned a USD100m electricity plant to serve its production lines, the company reported to the Abu Dhabi Securities Market. The 120MW plant was announced at the same time as a seven per cent rise in profit to USD24.8m in the first nine months of 2004 on sales up 31 per cent to USD232m.
USD9.3bn Makkah projects
Crown Prince Abdullah has launched six major projects worth USD9.3bn around the Haram Mosque in Makkah, reported Arab News. This includes expansion of the mosque's northern courtyard and construction of the USD3.2bn Jabal Omar residential towers, as well as five-star hotels, commercial centres and prayer facilities for 200,000 worshippers.
Yemen to triple cement production
Yemen intends to increase cement production by 300 per cent in the next three years, a move that will at last allow it to keep pace with internal demand, reported The Daily Star. Cement production will total 5.5m tons in 2007, up from 1.54m tons in 2003. Two new cement factories will be established with a capacity of 2.2m tons, said officials.
Qatar-Pearl seeks London buyers
The USD2.5bn Qatar-Pearl, an artificial island off Qatar's coast, will be showcased in London at the Homes Overseas Exhibition from November 26-28. The first phase of selling apartments was launched last month. Qatar has already legalized freehold for foreigners. The first investors are expected to take up residency in 2006, while the project is due for completion in 2009.
DMC showcased in NZ
The Dubai Maritime City was presented at a symposium in Auckland, New Zealand, last week. The event was hosted by the Centre of Applied Engineering New Zealand to highlight innovative developments in Dubai such as the DMC, The Palms and The World.
Oman to pass freehold law
An expatriate or foreigner will soon be able to own real estate on a freehold basis in integrated tourism-designated areas of Oman, reported The Times of Oman. Both the buyer and his relatives of the first degree will be allowed to reside in the Sultanate, said Tourism Undersecretary Mohsin bin Khamis Al Balushi. He, his wife and children will be granted residential visas, he added.
45-storey Dubailand tower
Dubai-based MAG Group has bought a plot to develop a 45-storey, 450-apartment residential tower in the City of Arabia zone in Dubailand, reported Gulf News. MAG Group will also shortly launch a 55-storey tower at Dubai Marina with 534 apartments for sale and completion in Q3 2007.
Azzam, growth to continue
Leading regional economist Dr Henry T Azzam, CEO of Jordinvest, predicts further growth for the booming regional real estate market in his latest column for Gulf News. He points to a 25 to 100 per cent surge in realty prices from Cairo to Riyadh in the past 18 months, and says market reforms and low borrowing costs leave the outlook very positive for the sector.
BWTC goes live on the Internet
DTZ, the international property consultants, have launched a web site for the new Bahrain World Trade Centre, BWTC. Visitors to www.bahrainwtc.com are now able to view the plans for the centre, that will be housed in a USD150m twin tower development under contruction next to Manama's Sheraton Hotel. The 50 storey twin tower building will be the tallest building in Bahrain at 240 metres.
Qatar begins work on tech park
Construction has begun for Qatar's first free zone, the USD100m Science and Technology Park, which is due to open in 2006. Located in Doha, the zone will have a special focus on research and technology commercialisation. The zone is situated within Doha's Education City, a 1,000-hectare campus of schools and universities.
Burj Dubai showcased in New York
Emaar's Burj Dubai project is being exhibited at the Urban Land Institute meeting being held in New York, where it will be discussed by public officials, academics and architects. The four day meeting will attract 6,000 real estate professionals from around the world, and concludes on November 5. Costing USD1bn, the Burj Dubai is due for completion in 2008.
Palm Deira on sale from Nov 6
Nakheel, the Dubai property developer, has taken out a series of advertisements in local newspapers advising that real estate on The Palm, Deira will be available for sale from Saturday November 6. Nakheel had previously warned the public that it has not authorised any third parties to sell real estate on The Palm, Deira, its third and largest palm tree-shaped development.
DEPA, Capital Towers interiors
DEPA, a Dubai-based firm specialising in interiors for five star hotels, is to fit out the guest rooms, suites and corridors of the Capital Towers Hotel. The hotel is being built on Dubai's Sheikh Zayed Road, and DEPA is working in partnership with BBGM design consultants of New York.
KEO and RNL win Pearl contract
Design and project management consultants KEO International, along with US architects RNL International, have been awarded the contract to design the first 43 La Plage Villas at The Pearl-Qatar. The villas will be available in six Mediterranean styles ranging from four to six bedrooms. The first investors in The Pearl-Qatar are expected to take up residence in 2006.
Nakheel to showcase in London
Seeing the value of promoting the city of Dubai as well as its own developments, Nakheel is to participate in The World Travel Mart in London this November. Wahid Attalla, executive director of Nakheel, said that his company will display models of its key projects while also supporting the promotional efforts of the Dubai Department of Tourism and Commerce Marketing.
It looks like you are using a Mac - check out our 
Web Feeds