Construction & Real Estate

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Buying a home is a dream for many, however the financial commitment can be daunting (Shutterstock).
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That “dream” home can quickly turn into a nightmare if you’re constantly struggling to make payments on it.

June 16, 2013

UDC is the developer of a man-made island in Doha
12:46 GMT

United Development Co (UDC) , the developer of a man-made island in Doha, said on Thursday that is raising a 1.56 billion riyals ($428.4 million) loan facility from Qatar National Bank.

June 13, 2013

Sorouh and Aldar weigh $15 billion merger plan
10:39 GMT

Abu Dhabi property firms Aldar Properties PJSC and Sorouh Real Estate said the two companies expect to close their state-backed merger by June 30, pending a ministerial resolution approving the deal.

June 12, 2013

AKOYA by DAMAC
09:34 GMT
(press release)

DAMAC Properties, the largest private developer of luxury real estate in the Middle East, has announced the launch of the first phase of sales for luxury villas within the ‘AKOYA by DAMAC’.

The UAE and Saudi Arabia are the largest auto component markets in the GCC
06:00 GMT

The recovery of the Dubai property market has led to a boost in the consumption of auto parts, according to exhibitors at Automechanika at the Dubai International Convention and Exhibition Centre. The event opened on Tuesday.

June 11, 2013

Saudi Landbridge
13:19 GMT

Saudi Arabia is currently undertaking ground-breaking transformations in the transportation sector and Huawei Technologies aims to place the passengers at the heart of the new transformation by emphasizing safety, comfort and reliability as critical components of railway infrastructure.

June 10, 2013

According to prosecution records, J.B. abused her post at the Dragon Mart administration and forged the blank cheques worth more than Dh1.3 million and wrote J. T.’s name as the beneficiary
10:52 GMT

A former woman executive with Nakheel allegedly fled to her home country after embezzling more than Dh1.3 million worth of tenancy contract cheques, a court heard.

During the event
09:45 GMT

Khalaf Ahmad Al Habtoor congratulated senior executives from the Al Habtoor Group who were recently awarded by external bodies for excellence in their respective professions in the United Arab Emirates.

Emaar launches new residential project
05:30 GMT

Emaar Properties has unveiled its newest residential development in the city.

June 6, 2013

Overview of the Business Bay
12:24 GMT

Dubai-based Arabtec Holding said yesterday it has been awarded a Dh810 million contract to build a 5-star hotel and apartments in Business Bay Dubai.

June 5, 2013

While 1,842 of the total buildings were new, 137 were extensions to existing ones.
11:26 GMT

A total of 2,461 residential units were completed in Abu Dhabi during the first quarter of 2013, down 6.2 per cent compared to Q1 2012, according to official data from the Statistics Centre – Abu Dhabi (SCAD).

May 30, 2013

A team of Freezone Sohar officials visited India recently
05:00 GMT

With Indian companies and investors continuing to evince interest in Freezone Sohar, the economic hub is aiming to double investment from India to US$250mn in the coming two years from the present US$125mn.

Emirates Securities Market
05:00 GMT

Stocks in Dubai and Abu Dhabi continued to rise, with their benchmark measures gaining for the third straight day yesterday.

May 29, 2013

Saudi Arabia 100 Riyals bill
10:35 GMT

The Saudi development fund agreed Tuesday to lend Tunisia USD 150 million (some 230 million Tunisian Dinars) to co-finance construction of 20,000 housing units for low-income people.

The WRDC is encouraging the private sector
06:00 GMT

The value of announced projects in Abu Dhabi’s Western Region is Dh295 billion, a top-ranking Abu Dhabi government official told reporters on the sidelines of Al Gharbia Development Forum in the capital, an event aimed to draw new investors to the region.

May 28, 2013

Masood Al Awar, CEO, TASWEEK Real Estate Development and Marketing
07:15 GMT
(press release)

TASWEEK Real Estate Development and Marketing has announced that it has begun operations in Dubai as part of its ongoing global expansion efforts.