Monday 31 August 2015

Deyaar set to launch Midtown phase 1

Deyaar Development, a leading Dubai-based developer, today announced that the Afnan District of its Midtown development at International Media Production Zone (IMPZ) will open for bookings in September. Afnan District is the first part of the 1.2-million-sq-ft mega Midtown develo


Greenstone, Trinity to offer Japan property deals

Greenstone Equity Partners, a leading fund placement firm in the Middle East, recently announced its collaboration with Trinity Investments to raise capital from GCC investors for real estate investment in Japan. The partnership was created to attract GCC investors to invest in t


GCC rail network project development ‘sluggish’

The GCC states must decide soon on the fate of the long-awaited Gulf-wide railway network if it is to be operational by 2020, a report said. While metro projects in Doha, Dubai, Jeddah, Makkah and Riyadh are pushing ahead rapidly, efforts to develop the ambitious GCC railway trac


Dubai real estate group wins key investment

Dubai-based real estate technology enterprise, JRD Group, said it has won key investment from iMENA Group, a leading operator of online businesses in the region. With this deal, the company has become a new member of iMENA Group's growing platform which includes eight online


Laing O’Rourke eyes complex projects in UAE

Laing O’Rourke, a leading UK-based contractor, is rebuilding its operations in the UAE following a dramatic downsizing after the 2008 financial crisis through introduction of more modular building techniques into its Middle East projects, said a report. As part of its new s


Saudi Arabia inks key construction contracts

Saudi Arabia has announced plans to construct nine buildings and various centres for Islamic organisations across the kingdom at an estimated cost of SR35 million ($9.32 million), said a report. Sheikh Abdulrahman Al Sanad, the chief of the Promotion of Virtue and Prevention of V


Dubai property price slump linked to forex flux

Real estate demand in Dubai, UAE which fell significantly in the first half (H1) of the year continuing into the third quarter, was driven primarily by currency fluctuations, indicating a very low propensity for international real estate investment into the Emirate, a report said.


Orascom Construction net income hits $35.2m

Egypt's Orascom Construction said its net income for the second quarter of 2015 rose to $35.2 million. The engineering and building business, which is dual listed in Cairo and Dubai, reported revenues of $1.017 billion. Orascom Construction had earlier reported


Emaar’s Dubai Creek project launch next week

Dubai-based real estate developer Emaar Properties will launch Creekside 18, its latest residential project at Dubai Creek Harbour at The Lagoons on September 12. Extending in to the heart of the creek, the stunning Creekside 18 comprises two towers 37 storeys high with 480 resid


Dubai Properties revenue to rise this year

Dubai Properties Group (DPG), a real estate developer owned by the emirate's ruler, will increase its revenue in 2015 and a rising population will help support residential prices, the company's chief executive said on Sunday. After a rocky few years around the turn of the

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