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Dubai Property

Al-Arrab to build 10 towers in Qatar
Al-Arrab Contracting Company, a subsidiary of Al-Rajhi Company, has signed a SR2bn ($533m) deal for the construction of 10 towers on the Pearl Island in Qatar, reported Arab News. ACC managing director Said B. Said said that his company, the third largest construction company in the Kingdom, has undertaken projects worth SR10bn in Qatar.
Qatar: Tuesday, May 13 - 2008 at 11:01

Dubai rental yields fall
Rental yields in the Dubai residential property market dipped in April as property prices rose faster than rents, according to a report by Al Mal Capital, a UAE-based investment bank. A year's rent was on average equal to 7.1% of the property's value, down from 7.3% in March, cited Bloomberg.
United Arab Emirates: Tuesday, May 13 - 2008 at 10:31

Zaya to build beachfront villas off Abu Dhabi
Abu Dhabi-based developer Zaya has unveiled Nurai, a community of resort beachfront estates and water villas on a natural island off the coast of Abu Dhabi, a company statement said. Nurai is a 3.3 million square foot island located northeast of Abu Dhabi city centre, near the northernmost tip of Saadiyat Island. The development will include a boutique luxury hotel resort with 60 suites, 31 resort beachfront estates, and 50 resort water villas. Zaya is a joint venture between Tasameem Real Estate and Assas, whose combined portfolio exceeds $15bn.
United Arab Emirates: Tuesday, May 13 - 2008 at 10:06

Bloom plans $10bn portfolio
UAE-based Bloom Properties, formerly known as Emirates International Properties, plans to invest $10bn in mixed use projects in the UAE, Romania and Algeria over the next three to five years, its CEO, Hani Shammah, said on Monday. Bloom is the joint real estate development arm of Emirates International Investment Company and National Holding. Shammah said Bloom is currently eyeing opportunities for developing properties in Oman and Jordan, reported Gulf News.
United Arab Emirates: Tuesday, May 13 - 2008 at 09:59

IFA pays $1bn for plots on Palm Jumeirah
IFA Hotels & Resorts has bought two plots of land on the crescent of Palm Jumeirah in Dubai for $1bn. The plots cover 1.012 million square feet and will be an extension to the Kingdom of Sheba resort. IFA HR recently broke ground on the Balqis Residence, the residential component of the Kingdom of Sheba.
United Arab Emirates: Tuesday, May 13 - 2008 at 09:46

Burj Dubai sets new record
Burj Dubai, the world's tallest tower, achieved another global first yesterday when glass panels were installed at a height of 512 metres. At 636 metres and more than 160 storeys high, Burj Dubai is now the world's tallest building and tallest man-made structure, having recently surpassed the height of the KVLY-TV mast in North Dakota, USA - 628.8 metres.
United Arab Emirates: Tuesday, May 13 - 2008 at 07:15

Bani Yas unveils Bawabat Al Sharq
Bani Yas Investment and Development Company has launched Bawabat Al Sharq, a 108-hectare mixed-use development in Abu Dhabi’s Bani Yas city, to cost Dhs2.2bn, reported Gulf News. The project includes FIFA-standard sports facilities, as well as shopping centres.
United Arab Emirates: Monday, May 12 - 2008 at 11:18

Emaar to offer Al-Nada Village
Emaar is set to launch on Wednesday its residential village within Alkhobar Lakes, reported Arab News. Al-Nada Village features 242 three to six-bedroom villas with residents having direct access to a 13,000 sq m lake. Customers will be given options of 16 villa styles designed with Arabic and Andalusian architectural elements at the sale to be held at Alkhobar Lakes Sales Center. The villas are due for completion in 2010.
Saudi Arabia: Monday, May 12 - 2008 at 10:52