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2003

Abu Dhabi to implement new building code
Rashid Mubarak Al Hajeri, chairman of the Department of Municipal Affairs in Abu Dhabi, has said that new world-class building codes will be introduced next year to help developers create better places in which to live and work across the emirate The building codes will be applied by code administrators, construction design professionals and developers, and enforced through a rigorous programme of inspections and legislation by the authorities, he said.
United Arab Emirates: Monday, June 08 - 2009 at 12:47

Kuwait April sales up on March
The National Bank of Kuwait (NBK) has said in a report that real estate transactions in April had amounted to KD96.7m, up 8% on March. The value of sales in the commercial sector and apartments had surged by 51% and 13% respectively, while residential sales had dropped by 8%, NBK noted.
Kuwait: Sunday, June 07 - 2009 at 11:07

Mesa landscaping to open in Dubai
US-based landscaping group Mesa has been granted a trade licence for a hub office in Dubai to be the firm's hub office for the Mena region and Asia. The company is also pursuing a licence in Abu Dhabi. Mesa has worked on projects in the UAE, Oman, Egypt and India, and has finished all the design phase for the Ferrari Experience Theme Park in Abu Dhabi, which is being tendered to landscape contractors.
United Arab Emirates: Sunday, June 07 - 2009 at 10:10

Zabeel hands over Tiara Residence
Zabeel Properties has officially handed over its first development to its owners at Tiara Residence, comprising of 644 resort style residences, located on the main trunk of Palm Jumeirah. About 70% of the development has been sold and home owners have been moving in since April.
United Arab Emirates: Saturday, June 06 - 2009 at 11:07

Deyaar to create distressed fund
Markus Giebel, chief executive of Deyaar Development has said the company, along with Dubai Islamic Bank, has secured Dhs200m from regional investors for a new distressed asset fund that will buy property from buyers who default on their payments and hold onto the units for several years and resell them for a profit. He said the creation of the fund was the final step in a strategy to lower the company's default rate from about 50% to the low single digit range.
United Arab Emirates: Thursday, June 04 - 2009 at 12:04

Separate permits needed for auctions
Mohammed Sultan Al Thani, Assistant Director-General of Dubai Land Department has said that any company that wants to hold a public auction needs to get an auction licence from the Department of Economic Development and an auction permit for every auction they hold from the Land Department, and has to fulfil a number of formalities before the auction process can begin. A fee of Dhs2,000 is charged per auction permit.
United Arab Emirates: Thursday, June 04 - 2009 at 12:02

Hydra 'may revise' projects
Sulaiman Al Fahim, CEO of the Abu Dhabi-based Hydra Properties has said that the firm is implementing a restructuring process and may revise some projects to meet current market requirements. The developer has no plans to cancel announced projects, but will restructure its international project portfolio, Al Fahim said, according to Emirates Business. He said the company is redesigning its Mexico project to fit the new market needs.
United Arab Emirates: Thursday, June 04 - 2009 at 11:54

Ajman developers must register by July 1
Ajman Real Estate Regulatory Agency (Arra) has said in a statement that property developers will have until July 1 to complete the required registration procedures. 'All property developers who have not completed all the procedures or failed to provide the documents needed for practicing the activity of real estate development in Ajman are advised to take immediate action - otherwise a fine of Dhs100,000 per month will be applied against offenders,' said Arra Director General, Omar Barguthi.
United Arab Emirates: Thursday, June 04 - 2009 at 11:50