2006
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ADIH submits Beirut Gate plans
Abu Dhabi Investment House has submitted the final design plans for its $600m Beirut Gate project in the centre of Beirut to Solidere, the company responsible for developing Beirut city centre. ADIH will now await approval from Solidere, the local municipality and other authorities. French, US and local architects were involved in the drawing up of the design.
Dubai Properties hits the road
Dubai Properties has publicised its various residential, commercial and retail developments in South Africa for the first time, following a recent week long road show. This year Dubai Properties' international business development arm has participated in exhibitions, trade fairs and road shows in several countries including Germany, the UK, Ireland and Singapore.
$272m Airport Towers in RAK
Ta'sees, a UAE-based development and investment company, has unveiled its $272m Airport Towers in Ras Al Khaimah Airport Free Zone. The project consists of 10 commercial towers, each of 10 floors, eight 11-storey residential towers, two tower blocks with furnished apartments, a luxury hotel and cargo village. The project is being promoted by Al Aqariya Group.
RAK to have rent cap
Ras Al Khaimah will pass a law imposing a 15% per year cap on rent rises, according to Gulf News. A draft law is before the Emiri Court waiting approval, the report said. Dubai and Abu Dhabi have rent caps of 15% and 7% respectively.
QACC $72.8m Pearl-Qatar deal
Qatar Arabian Construction has won a $72.8m contract with First Qatar Real Estate to build a tower on the Pearl-Qatar, The Peninsula reported. The residential tower has 200 units and is due to be ready in August 2008. First Qatar appointed Projacs International as project manager for its four projects on the island development.
$436m labourer housing
An $436m complex of residences and facilities to house 87,000 workers will be constructed at Dubai Industrial City. The Shuaib Residential Complexes will be built over 14m sq ft near the main production centres of the industrial city. They will be self-contained, and have retail outlets, leisure and health facilities.
Bahrain Investment Wharf on sale
Developers of Bahrain Investment Wharf have opened sales of its various components. The complex has four zones for industry, logistics, business and residences. Properties offer 100% foreign ownership. The project is a collaboration between Bahrain's government and Al Khaleej Development Company, also known as Tameer.
$19bn Downtown Jebel Ali project
Limitless has revealed plans to build a new township for 235,000 people in Dubai at a cost of $19bn, according to Gulf News. Downtown Jebel Ali will have a built up area of 70m sqft divided into four quarters with a total of 326 buildings, of which 237 will be residential. Limitless will put up 30-40 buildings, with the remainder given to private developers. It will be connected to the Dubai Metro rail link. The whole project is due for completion by 2011.
Dubai freehold guide out
Dubai's Land Department has published a guide to purchasing freehold property, Gulf News reported. The 168-page Freehold Property Guide contains a full list and map of freehold areas in Dubai and guidelines on registering property and mortgages. It will be available from 21 November in Arabic and English.
Property law to expand
Dubai's property law is being expanded to cover three new areas, according to officials at the Land Department, cited by Emirates Today. They are: a condominium law, also known as a strata law, which regulates the rights and responsibilities of owners with respect to common areas of a building; a trust law governing escrow accounts; and a law regulating owners associations. They are expected to come in during Q1 2007.
The Burlington at Business Bay
Deyaar has unveiled The Burlington, a 35-storey commercial tower in Dubai's Business Bay. It has for sale 476 offices ranging in size from 530 sqft to 2,019 sqft. Facilities include a shopping arcade, gym and sporting facilities, a dining plaza and coffee shops. There will also be a business centre with conference rooms.
Yasmine Village at RAK
Yasmin Village in Ras Al Khaimah, described by developers as a rural, family-friendly residential and commercial development, was unveiled today (Wednesday). The development offers a range of villas, apartments and office space. Special features include a water conservation scheme using rainwater and a chemical free, sewage treatment plant. Asteco is marketing agent.
Indian expo at Property Show
The Worldwide Property Show in Dubai will be held in conjunction with the India Real Estate Expo for the first time. Industry leaders say India's property sector has been booming in recent years, becoming attractive to Gulf Investors. Leading real estate and property developers will showcase their projects at the expo.
$208m Al Raha sea wall deal
Aldar Properties has awarded contracts worth $208m after a tender process to a French-UAE joint venture to build a sea wall at its Al Raha Beach development. Under the terms, France's Soletanche Bachy and UAE-based National Services and Contracting Establishment will design and build 10 km of reinforced concrete walls with 3.2km of sloping rock revetment.
Sabban Towers on schedule
Construction of the $275m Sabban Towers on The Pearl-Qatar is on schedule, with foundation work on the three towers finished and parking levels almost done, according to developers Sabban Property Investments. MD John Brown said a surge in Qatar's construction sector has placed a temporary strain on resources, but the company is pleased with the progress of construction work.
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