Construction & Real Estate

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The UK capital recorded €32.2 billion (around $44.2 billion) worth of transactions in 2013, with the Middle East contributing roughly $7.5 billion.
July 10, 2014 - 03:14 GMT
London’s property market has always been a favourite for investors from the Middle East.

February 25, 2014

Bay Avenue
15:27 GMT
(press release)

Dubai Properties Group, has announced the opening of a new 102,675 sq. ft. park located in Bay Avenue, its flagship retail destination in the heart of Business Bay.

Dubai is aiming to establish itself as one of the most sustainable cities in the world by 2020 (Shutterstock)
14:38 GMT

Dubai is stepping up its green campaign with new developments underway to build more eco-friendly communities in the UAE.

February 23, 2014

Mulberry at Park Heights
11:57 GMT
(press release)

Mulberry at Park Heights, the first residential apartment complex in Dubai Hills Estate, the city of the future developed by a joint venture of Meraas Holding and Emaar Properties in Mohammed Bin Rashid City, has been launched for sale.

February 19, 2014

The ministry has offered 40000 feddan (16.800 hectares) to investors by the end of February with 20 percent (8000 feddan) allocated to locals in a closed bid.
11:47 GMT

Since its liberation from Israeli occupation more than 30 years ago, Egypt's Sinai Peninsula has suffered from serious underdevelopment and what residents describe as neglect by the government.

The rental gap between properties location ‘off-island’ and those in ‘on-island’ locations remained firmly intact
08:02 GMT

Abu Dhabi residential rents increased by an average of 16 per cent year-on-year last year, with rates rising by as much as nine per cent in the final quarter.

Emaar launches Mira Oasis in Reem
07:25 GMT
(press release)

A relaxed and inspiring lifestyle awaits residents at Mira Oasis, a new contemporary townhouse community launched by Emaar Properties within Reem.

February 18, 2014

The master-planned communities will feature landscaped central parks, mosques, educational institutions, healthcare centres, children’s play areas and community centres and will be designed by international architects.
20:27 GMT

The new entity, called Emaar Jameel, will focus on developing integrated real estate projects in the Kingdom.

During the signing
11:10 GMT
(press release)

Abdul Latif Jameel and Emaar Properties, have signed a Memorandum of Understanding (MoU) to develop integrated property projects in the Kingdom of Saudi Arabia.

February 17, 2014

The builder of the world’s tallest tower posted a quarterly profit of AED 756m ($206m), compared with AED 512m in the corresponding period of 2012
20:42 GMT

The developer, which launched several new projects last year, said its total value of sales in Dubai for 2013 was AED 12bn, nearly three times the amount in 2012.

“This would be a fair decision to protect homebuyers,” Awamleh continued, noting that there are 2,700 companies registered at JHDA
03:43 GMT

“For example, several Iraqi investors built housing projects and left to settle in other countries,” Awamleh said, explaining that several buyers have complained to JHDA from construction faults after developers left the country.

February 16, 2014

Saudi Arabia is planning to open 26 new hospitals throughout the Kingdom, but the government has claimed that land shortages have stalled healthcare development nationwide (File Archive)
15:00 GMT

Saudi Arabia is claiming that land shortages are the reason it has been unable to implement over 220 new health projects throughout the Kingdom.

February 12, 2014

Only 25 percent of KSA projects are implemented on time (Courtesy of Emirates 247)
14:00 GMT

Saudi Arabia is losing $27 billion every year due to "deliberate stalling of construction projects by corrupt government officials."

February 11, 2014

Qatar will build five stadiums for the 2022 World Cup (File Archive)
13:11 GMT

Qatar has begun construction on its first of five stadiums that it is building in preparation for its hosting of the 2022 FIFA World Cup.

Mohammad Sultan Al Qadi, Managing Director and CEO, RAK Properties
12:27 GMT
(press release)

RAK Properties has announced net profit of AED 151 million for the year ended 31st December 2013, compared to AED 147 million in 2012.

February 10, 2014

US-based Reef Worlds is planning to invest $3 billion in underwater tourism in the UAE (Courtesy of The National)
12:58 GMT

US-based developer Reef Worlds announced plans this week to build underwater cities and tourism sites near Dubai.