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Dubai Property

Emaar Misr launches Armani villas
Emaar Properties Egyptian subsidiary, Emaar Misr, has announced the launch of the Armani Residences in Marassi, the developer's $1.74bn master-planned community. Personally designed by fashion icon Giorgio Armani, the villas will be located on Egypt's Sidi Abdel Rahman Bay.
Egypt: Wednesday, August 27 - 2008 at 10:13

Belhasa wins contract for Dubai Lagoon
Schon Properties, developers of the Dhs3bn Dubai Lagoon Development, has signed a Dhs1.171bn contract with Belhasa Engineering and Contracting Company to handle the construction of zones 3 and 6 of the exclusive mixed-use project. Site work is scheduled to begin in October 2008, with a projected completion date between the end of 2010 and beginning of 2011. BECC's remit will include all civil, architectural, construction and MEP works as well as air conditioning and service facilities, for a total of 17 buildings.
United Arab Emirates: Wednesday, August 27 - 2008 at 09:54

New Dhs4bn real estate firm
Nobles Investments, a newly established Dhs4bn ($1.09bn) real estate development company, has started operations in Dubai. The company will focus on the real estate markets in the UAE and the Middle East, and is fully committed to launching several high-end projects by the end of the year, according to a press statement.
United Arab Emirates: Wednesday, August 27 - 2008 at 07:52

Damac rebrands itself
Damac Properties has unveiled its new corporate identity with the theme, 'wish fulfilment'. The company said the rebranding is aimed at increasing the private sector master developer's positioning as a luxury lifestyle provider to include a focus on the benefits of luxury and to differentiate it from its competitors.
United Arab Emirates: Wednesday, August 27 - 2008 at 07:15 |

DXC signs financing deal with Tamweel
Dubai World Central - the 140-square kilometre urban land project under construction in Jebel Ali - has, for the first time, signed an agreement with a real estate finance company to provide financing solutions for end-users looking to purchase freehold property within DWC. DWC Real Estate, the entity tasked with designing, building, developing, selling and leasing properties within DWC, and Tamweel PJSC, have forged the partnership initially targeted at DWC Residential City customers, and extendable later to two other real estate components - DWC Commercial City and DWC Golf City, according to a press statement.
United Arab Emirates: Tuesday, August 26 - 2008 at 10:59

DCC wins Dhs265m contract
Dubai Contracting Company has been awarded the main contract to build a new residential tower in Dubai Marina valued at Dhs265m. The tower is planned to cover a built-up area of 42,374m2 and will stand 33 storeys tall, and have 5 basements. Erga Progress are the consultants on the project, on which construction is expected to start before the end of this year and be completed within 27 months, according to a press statement.
United Arab Emirates: Tuesday, August 26 - 2008 at 10:57

New law aims to curb 'flip' sales
Dubai has issued a new law requiring home buyers to register their purchases before reselling them. The new law requires purchases of even uncompleted apartments and villas bought 'off plan' to be registered with the department first before they can be passed on to a new buyer. The move is seen as an attempt to prevent speculators from 'flipping' the ownership of an uncompleted home soon after making the purchase. The practice has fuelled rapid inflation in property prices.
United Arab Emirates: Tuesday, August 26 - 2008 at 10:48

Culture Village hits new milestone
Dubai Properties has announced that the Dhs50bn Culture Village project has crossed key construction milestones, including the completion of 90% of the Dhs1bn infrastructure works. Canal works within the 40 million sq. ft. Culture Village site, situated next to the Garhoud Bridge along the Dubai Creek, is 95% complete. While the residential, commercial and retail districts within the project are being developed by 15 private developers, building works for these districts are being simultaneously undertaken.
United Arab Emirates: Tuesday, August 26 - 2008 at 07:38