News Archive: 2009

22, 2009 December:

Dubai ‘delaying UAE recovery'

The recent chain of events in Dubai could delay the recovery for the United Arab Emirates real estate sector and put renewed downward pressure on property prices and rentals, it is claimed...

16, 2009 December:

Abu Dhabi bailout: verdict

Abu Dhabi's $10 billion bailout of troubled Dubai will do little to rescue its beleaguered property market or to tempt overseas buyers back to the emirate until late 2011 and beyond, it is claimed...

14, 2009 December:

Abu Dhabi bails out Dubai

Abu Dhabi has bailed out struggling Dubai based developer Nakheel to enable it to pay a $4.1 billion sukuk bond due to be paid today...

26, 2009 November:

UAE developer hits South Africa

Abu Dhabi property developer, Royal Group, owned by royal Sheikh Tahnoon bin Zayed al-Nahyan, plans to build thousands of affordable residential properties in South Africa, the country's ambassador to the UAE has announced...

25, 2009 November:

Abu Dhabi blooming

Abu Dhabi property developer Bloom Properties is the latest in a long line of international housebuilders to announce plans to launch a multibillion pound property project in Iraq - a report in today's UAE daily the National said that the property developer, which is the real estate arm of National Holding, is in talks with top officials in Iraq over a proposal to build a £10.9bn property scheme called Al Madeena Al Jadeeda City in the Shi'ite holy city of Karbala...

09, 2009 November:

Abu Dhabi: what's next?

Property sales in Abu Dhabi are expected to remain weak for the remainder of 2009, but are likely to stabilise during 2010, according to the latest report - rents in the emirate are also falling and landlords will need to adopt a more flexible approach to stay competitive, the report from consultants CB Richard Ellis says...

04, 2009 November:

New laws for Abu Dhabi investors

New laws to help make the real estate market in Abu Dhabi more transparent and safer for buyers are expected to be introduced in the early months of next year - officials at the Department of Municipal Affairs are currently drawing up the necessary draft documents that will cover escrow accounts, brokers, titles and mortgages...

22, 2009 October:

UAE: confidence waning?

The number of property industry visitors to the Cityscape Dubai expo earlier this month which is the biggest in the Gulf region was down by 50%, it has been confirmed...

16, 2009 October:

RAK scheme part-suspended

The developer behind Ras Al Khaimah's first man-made islands, RAK Properties PJSC, has announced that it is to part-suspend the 12bn dirham (£2.2bn) project until the Ras Al Khaimah property market improves...

15, 2009 October:

Oz attracts Middle East

Tourism Queensland will appoint a representative in the Middle East next month to encourage visitors from that emerging market...

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