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Dubai Property

Inflation will not curb property demand
Emaar Properties Chairman Mohammad Al Abbar said yesterday that soaring inflation in the UAE was unlikely to curb demand for real estate in the country, reported Reuters. Because inflation is a 'global phenomenon', it will not impact demand for real estate in the UAE, Al Abbar said. He added that increases in raw material prices are not a major concern for Emaar as most of its projects are long-term and the company procures raw materials in bulk.
United Arab Emirates: Tuesday, June 10 - 2008 at 07:15

Hydra excavation 50% complete
UAE-based developer Hydra Properties has announced that excavation on the Hydra Village Abu Dhabi eco-retreat is 50% complete. Contracts for the 2,500 homes in the project will be handed over in July, with the final handover expected to take place in 2010.
United Arab Emirates: Monday, June 09 - 2008 at 15:04

Tamweel launches buy-to-let scheme
UAE-based real estate finance provider Tamweel has launched a buy-to-let scheme for people investing in commercial and residential developments to earn long term rental returns. The Shariah-compliant 'Irad' initiative allows investors access to up to 75% of the property's value. Repayment tenure is over 10 years for commercial property and 25 years for residential developments.
United Arab Emirates: Monday, June 09 - 2008 at 14:58

Das receives $193m loan
UAE-based developer Das Real Estate has received a $193m loan from the National Bank of Abu Dhabi to help fund its Palm Jumeirah project. The money from the country's second biggest bank will go towards paying for work on the mixed use Sea View Club Hotel & Apartments project, which will incorporate hotel rooms and private homes.
United Arab Emirates: Monday, June 09 - 2008 at 08:08

Dubai Pearl begins construction
Pearl Dubai, a consortium of investors, has broken ground on the Dubai Pearl mixed use development project in Dubai Technology and Media Free Zone. Bids for the $4bn project are expected in July.
United Arab Emirates: Sunday, June 08 - 2008 at 14:50

Arabtec secures Dh3bn deal
Arabtec Construction has been awarded a Dh3bn ($816m) deal to build 1,500 homes at Nakheel's Al Furjan development in Dubai. The deal is the company's largest UAE contract so far this year. Construction on the villas and terraced homes will begin in August, with the first completions expected in late 2010.
United Arab Emirates: Sunday, June 08 - 2008 at 08:09

Gulf Finance to build housing projects in Morocco
Bahrain-based Gulf Finance House plans to build two residential and tourism resorts in Marrakech and Tangiers at a cost of $1.6bn, reported Bloomberg. Royal Ranches Marrakech and Royal Resort Cap Malabata, which will be completed in five years, are to be built on a 380-hectare and a 113 hectares plots and cost $1bn and $582m respectively.
Bahrain: Saturday, June 07 - 2008 at 09:48

Dubai property buyers have right to visa
Dubai officials have confirmed that people anyone who buys a freehold property in the emirate is fully entitled to a residence visa in the emirate through the master-developer, reported Gulf News. In recent weeks there has been widespread concern among property buyers about this issue, with some believing that master developers had broken the contract as visas had not been issued.
United Arab Emirates: Saturday, June 07 - 2008 at 08:05