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Deyaar offers 90% financing
Dubai-based Deyaar Development has announced continued partnerships with leading banks to offer financing options exclusively to Deyaar customers, including up to 90% financing and repayment periods of up to 25 years. Deyaar customers, subject to meeting the bank's credit approval requirements, will be able to obtain special financing schemes and favourable repayment terms and quicker approvals, the bank said.
United Arab Emirates: Sunday, May 31 - 2009 at 12:10

Jenan to invest $1.3bn in two Saudi projects
Bassam Boodai, chief executive of Saudi property developer Jenan Properties, told Reuters his company is spending SR5bn ($1.33bn) on two projects that he hopes will be ready by the time the domestic property market recovers. He said the company recently signed a design agreement with a Canadian firm for a mixed-use complex with three towers in the eastern city of Khobar which will cost SR1bn. The company expects to wrap up the investment plan for the second project by the end of the year; it consists of a seaside resort covering an area of 2.8 square kilometres on the Gulf coast.
Saudi Arabia: Sunday, May 31 - 2009 at 12:08

Qatar offers to buy bank properties
Qatar has offered local banks to buy their property investments as part of government efforts to support the financial sector against fallout, The Financial Times has reported. Qatar has allocated $4.1bn, aimed at supporting the real estate sector as the market has weakened, and to keep banks 'continue to play their vital role'.
Qatar: Saturday, May 30 - 2009 at 09:21

Kuwait interests in Oman property up 28%
According to official figures from Oman's Ministry of Housing, the number of Kuwaitis owning real property in the Sultanate was up 28.5% between 2007 and 2008, making Kuwaitis first among GCC non-Omani real property owners. The number of Gulf nationals owning real estate has increased by 41.6% over the same period.
Oman: Thursday, May 28 - 2009 at 13:39

Construction of Louvre Abu Dhabi begins
The UAE and France have formally launched the Louvre Abu Dhabi project, which is being built on Saadiyat Island, the future Cultural District of Abu Dhabi. The museum will cost Dhs400m in addition to a franchise fee of $1bn (Dhs3.67bn) for using the Louvre brand name and for hundreds of artworks loaned from the Paris museum for periods of between six months and two years. The Louvre Abu Dhabi is one of five museums to be built on Saadiyat Island, a vast complex of luxury hotels, golf courses, marinas and private villas set for completion in 2018.
United Arab Emirates: Wednesday, May 27 - 2009 at 11:31

Kuwait's Noor to launch $175m property fund
Kuwait's Noor Financial Investment is set to launch a $175m real estate fund in Q2 2009 to invest in commercial real estate properties across the region, sources told the Regional Press Network. Noor has identified many opportunities in the real sector and wants to invest now and capitalize later, a source said.
Kuwait: Wednesday, May 27 - 2009 at 11:27

Al Rajhi to provide Jabal Omar financing
The Jabal Omar Development Company has said in a statement on the Saudi stock exchange that it has appointed Al-Rajhi Bank, to provide 'financial advisory and arrange the necessary financing through diverse Islamic Shariah-compliant instruments' for its $3.31bn mixed-use development in the holy city of Makkah.
Saudi Arabia: Tuesday, May 26 - 2009 at 12:01

Orascom wins El Merk deal
Orascom Construction Industries has announced that it has been awarded a $280m contract for construction work on the $3.8bn El Merk Central Processing Facility in Block 208, 250 km south east of Hassi Messaoud in the Algerian Sahara Desert. The project is slated for completion during Q4 2011.
Tuesday, May 26 - 2009 at 12:00