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Dubai Property

Work begins for Sanctuary Falls
Shaikh Holdings announced it has started the construction at Sanctuary Falls villa development in Jumeirah Golf Estates. The Sanctuary Falls community features a collection of 96 resort-style villas overlooking the Earth golf course.
United Arab Emirates: Monday, May 05 - 2008 at 14:33

Low cost homes for Abu Dhabi
Close to 93,000 sqm of land in Khalifa City B has been allocated to real estate developer Al Rayan to set aside specifically for an affordable housing community, The National has reported. homes in the village, which is aimed at low and middle income workers, will only be available for rent, stopping speculators from pushing prices up. The apartments will be aimed at expatriates earning between Dhs4,000 and Dhs10,000 per month.
United Arab Emirates: Monday, May 05 - 2008 at 09:07 |

Abu Dhabi rents soar 17%
A report released by the Department of Planning and the Economy has found that rents in the UAE capital have risen 17% in Q1 2008 compared with the same period last year. The report found that costs associated with housing now accounted for an average of 45% of residents' expenditure, with some lower income groups paying over 50% of their earnings on accomodation.
United Arab Emirates: Sunday, May 04 - 2008 at 08:26

KM launches Artisan Cluster
KM Properties, the real estate branch of KM Holding announced its latest project, the Artisan Cluster in Business Bay, reported Gulf News. The project is set over four plots with a combined land area of two million square feet and KM's latest project with British architect Sir Terry Farrell. KM has now $6bn portfolio in Dubai.
United Arab Emirates: Saturday, May 03 - 2008 at 09:56

Deyaar probe won't harm profitability, chairman says
Deyaar Development Chairman Nasser Al-Shaikh said today the ongoing investigation into alleged financial irregularities at the firm will have 'no impact on the future profitability of the company', reported Bloomberg. Three company officials, including Deyaar's former Chief Executive Officer Zack Shahin, are detained and being questioned in connection with the alleged embezzlement.
United Arab Emirates: Thursday, May 01 - 2008 at 11:02

Qatar project claims 100% carbon neutrality
Sabban Property Investments has announced that its $330m Sabban Towers project has become the first officially carbon neutral project in the Middle East. The development's emissions were counterbalanced by a range of projects to combat greenhouse gasses.
Qatar: Wednesday, April 30 - 2008 at 16:50

Al Mazaya Q1 profit jumps 256%
Kuwait-based property developer Al Mazaya Holding has announced that it posted a record net profit of $47.74m in the first quarter of 2008, a 256% increase from the $12.37m achieved during the corresponding period one year ago. Earnings per share jumped to 12.79 cents, compared to 3.43 cents during the first quarter of 2007.
Kuwait: Wednesday, April 30 - 2008 at 11:07

Scandals cast cloud over Dubai
A series of legal battles and property-related scandals could harm foreign-investor confidence and tarnish Dubai's business-friendly reputation, reported the Wall Street Journal. The daily said concerns about Dubai's regulatory and legal safeguards have arisen due to the resignation and detention of Deyaar's CEO for alleged embezzlement. It also noted controversy surrounding Damac Properties' attempt to cancel a project on Palm Jebel Ali, and a $1bn dispute between US private-equity firm Capital Partners and Tecom Investments, a subsidiary of Dubai Holding.
United Arab Emirates: Wednesday, April 30 - 2008 at 08:03 |