Tuesday 5 May 2015

Palma launches luxury homes on Dubai’s Palm

Palma Development, a subsidiary of Palma Holding and Banian FZCO, a real estate investment company, has launched Serenia Residences, a high-end project on Dubai’s iconic Palm Jumeirah Crescent. Palma Development is the sole residential-only community to take up space on the


Motor City top in-demand area in Dubai

The high in-demand communities in Dubai are Motor City, The Greens, Sheikh Zayed Road, DIFC, Jumeirah and Arabian Ranches, according to a new report. Motor City and The Greens share the first place with a score of 4.1 out of 5, while SZR, DIFC, Jumeirah and Arabian Ranches all ea


Gulf Finance House to buy mall in Saudi Arabia

Bahrain's Gulf Finance House (GFH) will buy a mall in the Saudi Arabian city of Jeddah for SR180 million ($48 million), the investment firm said on Sunday. The investment will produce an average semi-annual cash return of 12 per cent and the same internal rate of return over


Drake & Scull wins $79m engineering contract

Drake & Scull Engineering (DSE), a subsidiary of Drake & Scull International, has won a Dh290 million($79 million) contract to undertake MEP works for a high end luxury mixed use development project in Downtown Dubai. The project is scheduled for completion in 2016.


Australia tightens clamp on foreign property buyers

Foreign investors, who illegally buy houses in Australia and agents that enable them, face hefty fines and prison terms of up to three years under new penalties announced yesterday aimed at cooling soaring property prices. The new and expanded punishments come in the wake of risi


Alragan fund nets $85m profit in Saudi deal

Kuwait-based Alragan International Real Estate Company said its investment fund has completed the second deal concerning the sale of its remaining share in a partner company in Saudi Arabia, worth SR521.32 million ($139 million). The company earned a net profit of SR317.34 millio


Chestertons to unveil $2.25bn UK residential project

Lend Lease, an integrated property and infrastructure group, in partnership with global property agency Chestertons will be unveiling ‘West Grove’ project, a part of the Dh8.3 billion ($2.25 billion) Elephant and Castle regeneration in London (UK) at an expo in Dubai.


Sharjah developer opens Tilal City sales centre

UAE-based Tilal Properties, a joint venture between Sharjah Asset Management and Eskan Real Estate Development, has opened the onsite sales centre for Tilal City, the first mixed use development in Sharjah. Launched in November last year, Tilal City comprises 1,855 land plots, of


Bahrain plans flea market reconstruction

A proposal to bulldoze a popular flea market in Isa Town in Bahrain is being studied by authorities, who plan to reconstruct the traditional market in the area to make it more appealing to tourists. New designs for the Isa Town Traditional Market is being reviewed by the Works, M


Damac launches new hotel villa concept

Luxury real estate developer Damac Properties has announced the launch of its first hotel villa concept within the aspirational Akoya Oxygen community in Dubai, UAE. Set within a private enclave within the lush green surrounds of 55 million sq ft of tranquility within Akoya Oxyge

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