Tuesday 22 July 2014

300 Damac units sold out in one night

Damac Properties’ ‘Akoya by Damac’ project, which was recently launched, sold out during a suhoor which took place in six venues across the UAE last night (July 21).   More than 300 investors from Saudi Ara


Abu Dhabi sees 7pc rise in residential unit price

Abu Dhabi’s real estate market has experienced growth in prime residential sector with the sales price of units increasing seven per cent during the second quarter of the year, according to a JLL report.   JLL’s


Qatar real estate projects to hit $9bn

Qatar’s real estate project value is set to reach QR35 billion ($9.6 billion) in the next five year, with about 25,000 housing unites to be available by the end of this year, said a report.   According to Al Asmakh Rea


RSG launches ‘easy payment plan’ for Qasr Sabah

RSG International, a UAE-based real estate and property developer, has launched the ‘easy payment plan’ on its property Qasr Sabah as part of its Ramadan offer.   For single unit properties, the promotion will in


Saudi banks offer $32.9bn real estate loans in Q1

Saudi banks provided loans totalling SR123.4 billion ($32.9 billion) to the real estate sector in the kingdom during the first quarter of this year, a report said. Real estate loans to individuals rose by 33 per cent in Q1 2014 to SR76.8 billion, compared to SR57.9 billion in the


Bahrain's 'Pearl Trail' project given green light

The iconic Pearl Trail project in Muharraq was given the go-ahead. The cultural project was approved as His Royal Highness Prime Minister Prince Khalifa bin Salman Al Khalifa chaired the weekly Cabinet meeting at Gudaibiya Palace.  


Prequal bids sought for Dubai Creek bridge

Dubai’s Roads and Transport Authority (RTA) has invited contractors to prequalify for the construction of the Al Ittihad bridge project, which will span across the Dubai Creek. Tenders for the construction of the 2,700-m bridge, which is designed to replace the floating bri


Laing O'Rourke appoints new Mideast MD

Laing O'Rourke, a UK-based construction company, has appointed Paul Sheffield as the managing director of the group’s Europe hub, covering operations in Canada, UK and the Middle East.   Sheffield will have executi


Dubai residential sector 'shows signs of slowdown'

The rise of Dubai's red-hot residential real estate market is slowing as government steps to curb speculative buying have an impact and higher prices start to affect demand, consultants JLL said in a report on Sunday. Second-quarter trends in the market suggest the risks of


Al-Futtaim unit wins Fewa HVAC maintenance deal

Al-Futtaim Engineering’s Facilities Management division has won a multi-million dirham contract from the Federal Electricity and Water Authority (Fewa) for annual maintenance of its HVAC units. The two-year contract will see the Al-Futtaim company maintain Fewa's AC uni

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