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Dubai Property

Saadiyat Island villas launched
The Tourism Development and Investment Company (TDIC) in Abu Dhabi today released the first 250 villas in its Saadiyat Island project, with prices starting from Dhs6.5m for a three bedroom property. The Saadiayat Beach properties overlook either the coast or the Gary Player golf course, and are due to be ready by late 2009 to early 2010
United Arab Emirates: Tuesday, May 13 - 2008 at 20:06

Cityscape extended till Friday
Cityscape Abu Dhabi 2008 will be extended one day following an official request from Abu Dhabi government according to Mark Goodchild, Project Manager of Cityscape Abu Dhabi. Goodchild said this is unprecedented for Cityscape, but hardly surprising considering the massive interest on the first day.
United Arab Emirates: Tuesday, May 13 - 2008 at 15:24

Emirates NBD provides home loans in Abu Dhabi
Emirates NBD announced a new mortgage initiative during Cityscape Abu Dhabi 2008. The bank will provide home loans targeting UAE and GCC nationals and residents, with a 4.99% interest rate and a payment period extended up to seven years for people who want to buy an Abu Dhabi property.
United Arab Emirates: Tuesday, May 13 - 2008 at 15:21

Dubai Sports City showcases Canal Residence
The second phase of the Canal Residence, a similar design of the French Riviera, was unveiled at Cityscape Abu Dhabi. The Canal Residence West, which is located in the centre of Dubai Sports City, consists of five buildings overlooking the canal and the Els Golf Course, will also include parks, swimming pools and resorts.
United Arab Emirates: Tuesday, May 13 - 2008 at 14:00

Arzanah development unveiled
Capitala, a Mubadala joint venture in Abu Dhabi, unveiled its maiden Project, Arzanah, during Cityscape. The project is a mixed use 1.4 million square meters oasis that will consist of residential, leisure, sports, and retail areas. Projected number of residents in Arzanah will be 18,000, but only nationals can buy a property, as it is classed a non-investment zone.
United Arab Emirates: Tuesday, May 13 - 2008 at 13:28

Al Futtaim closes $500m real estate funds
Al Futtaim Capital, the investment arm of the Al Futtaim Group, has announced that it has completed raising $500m through two real estate funds, reported Gulf News. The four-year closed-ended funds are structured as both conventional and Sharia compliant investment vehicles such as the Al Futtaim Mena Real Estate Development Fund and Al Futtaim Mena Real Estate Sharia Development Fund. The funds' investment strategy will focus on Al Futtaim-led developments in key Mena cities such as Abu Dhabi, Doha, Casa-blanca and Cairo.
United Arab Emirates: Tuesday, May 13 - 2008 at 12:56

Hamptons opens office in Abu Dhabi
Hamptons International, a property services company, has opened its first Abu Dhabi office at the First Gulf Bank building on Corniche Street. The new office will showcase a diverse portfolio of properties – from the UAE, the region and international markets – and also provides additional services such as mortgage services, valuations and research, and letting services. The company already has two offices in Dubai – at Emaar Business Park and at The Lakes community.
United Arab Emirates: Tuesday, May 13 - 2008 at 12:50

Nakheel lists Dhs3.6bn Sukuk
Dubai-based developer Nakheel, a Dubai World company, listed today a 2-year AED denominated Sukuk on the Dubai International Finance Exchange valued at Dhs3.6bn ($981m), the company said in a statement. The Sukuk will conform to the principles of Islamic Sharia and will be based on an Ijara (lease financing) structure. Dubai Islamic Bank, JP Morgan and NBD Investment bank were the lead managers and joint book runners for the transaction. Dubai World is guaranteeing the payment obligations under the Sukuk.
United Arab Emirates: Tuesday, May 13 - 2008 at 11:17