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Dubai Property

Nakheel picks contractors for Jumeirah Heights
Dubai-based developer Nakheel has chosen two contractors to build its Jumeirah Heights development in the emirate, reported our sister company Meed. Athens-based Consolidated Contractors International Company and the local Al-Shafar General Contracting have been chosen for the contracts, both of which are estimated to be worth about Dhs1bn ($272m). The development is a self-contained community of 2,300 homes between Jumeirah Islands and Jumeirah Lake Towers.
United Arab Emirates: Thursday, May 08 - 2008 at 14:52 |

Emaar launches Saudi lake community
Emaar Middle East has launched a new lakefront community development in Saudi Arabia, reported our sister company Meed. Al-Khobar Lakes will cover 4.3 square kilometres and is located near to Khobar, Dharan and Damam. The development will contain more than 2,000 homes and feature 80,000 square metres of water.
Saudi Arabia: Thursday, May 08 - 2008 at 13:33

Al-Argan plans 'zero' Kuwait investment
Kuwaiti developer Al-Argan International Real Estate Co, whose share rose 70% this year, said it is halting investment in its home country because of over-inflated land prices and political paralysis, reported Bloomberg. Chairman Khaled al-Mashaan said the company is cutting its exposure in Kuwait to 'zero' because it is 'not a place where a person can make a feasible investment'.
Kuwait: Thursday, May 08 - 2008 at 13:29

Emaar opens Jakarta office
Dubai-based property developer Emaar Properties has opened an office in the Indonesian capital of Jakarta. The office will lead the development of Emaar's first project in the country, the mega-tourism and mixed-use project in Lombok, and also explore new opportunities for growth, the company said in a statement.
United Arab Emirates: Thursday, May 08 - 2008 at 07:54

$2.86tr worth of projects underway in region
A total of 3,339 projects estimated to be worth more than $2.861tr are underway in the region, according to research by database company Proleads, which monitors construction projects across the Middle East. In Saudi Arabia alone, 1,026 projects have been launched worth $1.102tr. The top 5 projects by value in the kingdom are the King Abdullah Economic City $129.976bn, Economic Cities in Northern and Eastern Regions $60bn, Prince Abdulaziz bin Mousaed Economic City in Hail $53bn, Saudi Power Network $50b, and Jizan Economic City $30bn, reported Khaleej Times.
Middle East: Wednesday, May 07 - 2008 at 11:59

Emaar launches sale of commercial units
Emaar Properties will launch a new sale of commercial units in Downtown Burj Dubai and Dubai Marina on Thursday May 8. The offerings include waterfront offices such as The Extreme Waterfront Offices as well as units at Marina Plaza Office Tower located at the Dubai Marina Mall complex, and offices at Boulevard Plaza, located within Downtown Burj Dubai.
United Arab Emirates: Wednesday, May 07 - 2008 at 10:23

Qatar fund to invest in Asian property
Qatar Investment Authority, a $60bn sovereign wealth fund, plans to invest in real-estate projects in Asian cities and said is considering buying distressed U.S. property assets, reported Bloomberg. The QIA has been investing in property in the past 2 1/2 years to diversity its holdings. The fund's head of real estate said 40% of its real estate investments will be in Asia.
Qatar: Wednesday, May 07 - 2008 at 10:14

Nakheel eyes foreign acquisitions
Dubai-based developer Nakheel will be active in buying assets in distressed markets around the world by the end of this year, CEO Chris O'Donnell told Reuters yesterday. The company, which has sold more than $5.2bn of bonds during the past 17 months, also plans to tap the debt market again this year.
United Arab Emirates: Wednesday, May 07 - 2008 at 07:51