News Archive: 2009: industry news

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...

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...

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...

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...

13, 2009 October:

Developers look to North Africa

Middle East based developers are increasingly looking to North Africa where demand for real estate is expected to grow both from nationals and foreign investors...

18, 2009 September:

World's tallest tower rejected

Planning authorities in Abu Dhabi have rejected a proposal to construct the world's tallest building, according to a report in the UAE daily the National today...

26, 2009 August:

Villas galore for Abu Dhabi

Almost 17,000 new villas in 23 locations are set to be built in Abu Dhabi in the next five years, it has been announced...

31, 2009 July:

The eastern effect

The full extent of the economic downturn on Middle East property companies is beginning to emerge with huge second quarter losses...

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