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Dubai Property

Define Properties enters Dubai market
Newly launched Define Properties is the latest entrant into Dubai's real estate industry. Initiated with a paid up capital of Dhs500m ($136m), the company's assets are valued at Dhs1.7bn, which include 12 plots in the Waterfront and 1 plot in Business Bay. President and CEO Tarek Kandil said Define sold its first project, Niki Lauda, off plan, before either the company or teh building were launched.
United Arab Emirates: Wednesday, June 04 - 2008 at 10:33

Limitless builds $100bn portfolio
The project portfolio of Dubai-based developer Limitless now exceeds over $100bn, reported Gulf News. With nine master planned developments currently under construction, including the $11bn Arabian Canal and $13bn Downtown Jebel Ali communities, Limitless, a Dubai World company, is now one of the top developers in the UAE.
United Arab Emirates: Wednesday, June 04 - 2008 at 07:54

Dubai Maritime City launches Maritime Centre
Dubai Maritime City, the world's first purpose-built maritime centre and a member of the Dubai World Group of companies, launched its Maritime Centre that will serve as the business capital for the city. The Maritime Centre comprises a cluster of five high-rise towers called the Creek Towers and Plaza; a landmark tower located at the head of the man-made peninsula; and seven plots reserved for potential developers planning to construct their own towers. The Centre will also feature a 5-star business hotel and premium service apartments.
United Arab Emirates: Tuesday, June 03 - 2008 at 14:35 |

Damac launches project in Kurdistan
Damac Properties, the largest private sector developer in the Middle East, has announced the launch of a new development in Kurdistan, Iraq. The mixed-use project, named Tarin Hills, will include residential, retail, commercial, hospitality, entertainment, health and sports components in Erbil. Phase 1 of the development, which will be spread across 170 million square feet, has a value of $4.5bn.
United Arab Emirates: Tuesday, June 03 - 2008 at 13:20

Emaar rated 'buy' at Citigroup
Dubai-based Emaar Properties, the largest publicly traded developer in the Middle East and Africa, was rated 'buy' in new coverage at Citigroup, reported Bloomberg. Citigroup's 12-month price estimate for the company is 21 dirhams. Emaar closed up 0.9% at Dhs11.7 yesterday.
United Arab Emirates: Tuesday, June 03 - 2008 at 12:56

Alshoula sets up $5.3bn property firm
Saudi Arabia's Alshoula Holding Company has established a ($5.33bn) real estate firm, Al-Arabiya Holding, to tap into the region's thriving property sector, a company executive told Reuters. Osama Salama, the company's director of finance, said the new firm is 80% owned by the Riyadh-based family business with the remainder held by private investors. The company's first project will be a $1bn residential community in Cairo.
Saudi Arabia: Tuesday, June 03 - 2008 at 10:37

Abu Dhabi to build residential cities for workers
Abu Dhabi is constructing workers' cities to house 400,000 people by 2010, according to Shaikh Hamed bin Zayed Al Nahyan, chairman of Abu Dhabi's Crown Prince's Court and Chairman of the Higher Corporation for Specialised economic Zones (ZonesCorp). Shaikh Hamed said the emirate's strategy was to construct modern residential cities for workers and labourers working in Abu Dhabi. About 40% of workers will be housed in the permanent residential cities and 20% in the temporary residential cities.
United Arab Emirates: Tuesday, June 03 - 2008 at 07:33

Giga group launches Dhs2bn City
Goldcrest Properties, a member of Giga Group, has announced the launch of a Dhs2bn residential development totalling eight apartment blocks. The Smart City project will cover 4.2 million sqft along Emirates Road in the UAE.
United Arab Emirates: Monday, June 02 - 2008 at 08:09 |