2005
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Home design show in Dubai
The Ideal Home Show, a consumer home show exhibiting the latest products for home design and decorating organised by Epoc Messe Frankfurt, will run in Dubai from 15-17 December. Exhibitors include Bosche Siemens, Falaknaz Habitat, Jacuzzi Me, Sherwood's Property Consultants, Marina Home Interiors and The Specialists.
Aref, $2bn Damascus realty plan
Aref Investment group told Reuters that eight Kuwaiti firms are finalising an agreement with Syria to launch a $2bn real estate project in Damascus. The first stage comprises the building of a $500m financial district and bourse by the end of 2007, with the full mixed-use scheme completed by 2010.
Dubai Lagoon, five-year payments
The Dubai Lagoon low-rise apartment development is offering a unique payment plan with 50% paid on moving in, and the balance over five years. The 50% payment is Dhs150,000 for a studio and Dhs250,000 for a one-bedroom apartment. Visit, www.dubailagoon.com
IT Plaza, Dubai Silicon Oasis
The IT Plaza in the Dubai Silicon Oasis is launching today, a 14-storey commercial tower with 720,000 sqft of high-tech office accomodation. Project manager is Han Investment and architectural consultants National Engineering Bureau.
$1.5bn Bahrain Bay project
The Bahrain Bay Development has been established for a $1.5bn mixed-use project north of Manama. The three-phase project includes 4.3m sqft of land reclamation, and phase two has a Four Seasons hotel and headquarters for Arcapita Bank which is one of the promoters.
Oryx launches The Pacific
Oryx Apartments has launched its third off-plan freehold apartment building, The Pacific, at Dubai Marina. The development has one bedroom duplexes and one, two and three bedroom apartments, as well as waterfront villas averaging 4,000 sq ft. Prices start at around $204,000. All properties have parking for residents and guests, and access to leisure facilities including a pool, gym, saunas and steam rooms. Visit www.oryxapartments.com.
$200m Dubai land deals
Dubai land sales and mortgages worth close to $200m were concluded in the past three days, according to figures from the Lands and Properties Department. The largest deal was for a plot in Regga which sold for $32.68m, and a 159,600-sq ft plot in Umm Suqueim 2 went for $16.53m.
Expats chance to buy in AD
UAE expats will be able to buy properties in Abu Dhabi for the first time, when Aldar Properties opens sales for its Al Raha development in Q1 2006, according to the company's chief, Ahmad Ali Al Sayegh. Villas and apartments will be sold on a 99-year lease basis.
Dubai monorail plans
Dubai could get at least seven monorails to act as feeder services from planned neighbourhoods to the Dubai Light Rail project, according to developers quoted in Gulf News. Links are planned for The Palm Jumeirah, Dubai International Financial Centre and City of Arabia at Dubailand, with four more likely to be built at Dubai Waterfront, the Burj Dubai complex, The Palm Deira and Dubai Festival City.
Emaar new MD
Emaar Properties has appointed a new managing director for its UAE operations. Ahmad Thani Al Matrooshi was most recently CEO of the government-run Dubai Development Board, a position he held for almost ten years. Chairman Mohamed Alabbar says Ahmad Al Matrooshi's experience in property and real estate will bring real value to the company.
South Ridge at Burj Dubai
Emaar Properties has launched the first of six towers in its Burj Dubai South Ridge residential development. South Ridge One has one, two and three bedroom apartments ranging from 835 to 3,008 sq ft. Two and three bedroom penthouses are located on the top floor. All six towers are expected to be completed by the end of 2007.
Escan manages Fujairah Paradise
Escan Properties will manage and market the $545m Fujairah Paradise development in Dibba under a deal with Riyadh Golden Investment and Development, reported Gulf News. The development consists of 1,000 villas, a five-star hotel and shopping centre. Construction is due to start in March 2006.
Freehold business towers
Al Fajer Properties is selling properties in its two Jumeirah Business Towers at Jumeirah Lakes on a freehold basis, which it says is due to demand by companies wanting a freehold base in the UAE, reported Gulf News. Abu Dhabi Commercial Bank is offering mortgages of up to 75%.
UAE nationwide rail link
The UAE will examine the the feasibility of building a 700 km-long nationwide rail network, which would be part of a GCC-wide system, reported Gulf News. Emirates Railways would link Abu Dhabi with Dubai, Sharjah, Ras Al Khaimah and Fujairah in the east, with Ruwais and Ghowaifait in the west. The first phase would be for a cargo and container network followed by a passenger project in the second phase.
Builders Portal online
Dubai-based company Builders Portal has developed an e-procurement portal for the construction and contracting industry in the Middle East - www.buildersV2B.com. Backed by the ETA-Ascon Group, the portal connects vendors and buyers of building supplies, with the aim of reduccing procurement costs.
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