2005
- The news you choose »
- Login to Add to Watchlist
Nasa Multiplex, $288m Index tower
Union Properties has awarded a $288m design and construction contract for an 86-storey mixed-use tower in Dubai International Financial Centre to UAE-Australian joint venture company Nasa Multiplex, reported Gulf News. Index tower will have 25 levels of office space and 520 apartments and penthouses over 50 levels.
$4.35bn DWTC redevelopment
The Dubai World Trade Centre is to undergo a $4.35bn rebuild in which the existing site will gradually be demolished and extended to Emirates Towers, reported Gulf News. The new complex will be a mixed-use development consisting of hotels, exhibition halls, residences, shopping arcades and office towers which will be built over 10 years. DWTC tower will be left intact.
IIB, $80m Business Bay deal
The Bahrain-based International Investment Bank is buying a 50% stake in an $80m tower to be built in Dubai's Business Bay district, reported agencies. The bank will place a portion of this investment with GCC investors, and has already received a very positive response, said officials.
Nakheel, IGY marina tie-up
Island Global Yachting, a leading developer and manager of luxury marina facilities, and Nakheel have signed an agreement whereby IGY will provide comprehensive design, development and management services to all Nakheel marina properties and developments in Dubai - The Palm Islands, The World, and Dubai Waterfront, the largest waterfront development in the world.
23 Marina, millionaire bonus
The 23 Marina tower will be the tallest residential building in the world on completion at the Dubai Marina with 90-storeys. And for its millionaire residences the developer is offering free use of a yacht, a Rolls Royce for airport pick-ups, home automation, separate elevators, three car parking spaces, a Jacuzzi on the terrace and two maid's rooms.
Dubai ready property market up
The market for completed property ready for immediate occupation continues to be strong in Dubai with rents and prices still advancing, agents told AME Info. This is a notable contrast to the off-plan apartment market which has slowed down considerably in recent months.
Rental guarantees, off-plan weak
The recent emergence of rental guarantees on new off-plan apartment launches in Dubai is a sign that this market is slowing down, said analysts, amid reports from earlier off-plan buyers that they are now unable to re-sell apartments at a profit and will have to meet the full payment schedule.
Springs, Meadows residents meet
The Interim Steering Committee for the Springs and Meadows communities in the Emirates Hills has met with developer Emaar. Gulf News reported that Emaar has agreed to work with sub-committees on financial, health and safety and environmental issues.
Damac builds in Lebanon
Damac Properties will build a 27-storey residential tower in Lebanon's Beirut City Centre development, its first real estate project outside the UAE. The building will have 70 apartments with two and three bedrooms and views of the Mediterranean Sea.
ETA Star launches The Gardens
Dubai-based developers ETA Star is building a residential property in Bangalore called The Gardens. The development consists of 10 interconnected 18-storey towers, each with a total of 927 one, two and three bedroom apartments. Middle East sales will be launched on 1 December at Emirates Towers.
Nakheel auction gets $48.6m
Nahkeel has sold 850,000 sqft of land for a total of $43.6m in three residential areas of the Jumeirah Golf Estates at an auction at the Burj Al Arab. The Sundials went for $18.4m, which at $52.28 per sqft is the highest amount paid for undeveloped land in Dubai. Sienna Views sold for $15.1m, while Orange Grove secured $10.1m.
Sky Gardens at DIFC on sale
Al Mazaya Real Estate has opened residential freehold sales in its $136m Sky Gardens development at the Dubai International Financial Centre. The tower has studio, one, two and three bedroom apartments and penthouses. Prices start from about $246,430. Retail properties will be offered later.
Damac, Lago Vista guarantee
Damac Properties is promoting two-bedroom apartments at its Lago Vista development with a guaranteed 8% per annum rental return over three years. The project is located at the International Media Production Zone in Dubai and near the planned Jebel Ali International Airport.
United Group in property JV
Abu Dhabi's United Group Holdings and Australia-based LJ Hooker have agreed to set up a franchise real estate company to take on the region's growing property market, reported Gulf News. Details of the joint venture company will be released shortly, said UGH GM Saeed Al Meqbali.
RAK first to offer freehold
Ras Al Khaimah has become the first emirate to allow foreigners and expats to buy full freehold property, following a royal decree. It applies to all RAK Properties projects in the emirate. The aim is to boost foreign investment in the emirate.
It looks like you are using a Mac - check out our 
Web Feeds