Sunday 28 December 2014
 
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Housing

Housing prices in Saudi to plunge 30pc

The housing prices in Saud Arabia will fall about 30 per cent due to falling oil prices, distribution of more low-cost homes and the imposition of Zakat on vacant land, said a report. The real estate developers and owners are faci

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Saudi housing projects to gain from low oil prices

Saudi Arabia’s Ministry of Housing projects are set to gain from lower oil prices leading to a decline of 25 per cent in costs incurred by customers, according to a report. Businessmen pointed out that service projects have

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Saudi Arabia to see rise in housing prices

The house prices in Saudi Arabia are expected to rise further on the back of high demand for homes and a slow rollout of developments, according to a new report. The housing requirements will continue to outstrip supply even as ne

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Saudi 2015 budget expected to raise spending marginally

Saudi Arabia's 2015 state budget is expected to raise spending marginally from this year's original plan while covering a deficit due to sliding oil prices with the kingdom's huge fiscal reserves, a Saudi newspaper reported on Tuesda

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Sewage dispute talks in Bahraini development under way

Negotiations are under way to resolve a financial dispute that threatened to result in a luxury housing development in Bahrain being swamped with overflowing sewage. A Dubai-based company that operates a water treatment centre for

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Khodari wins $360m university housing deal

Saudi construction firm Abdullah Abdul Mohsin Al Khodari and Sons has won a SR1.35-billion ($359.7 million) contract from the government for the construction of staff housing at King Khaled University, it said in a statement on Thursday.

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Arabtec board changes hit $40bn Egypt housing project

Negotiations to implement a $40-billion scheme for one million new homes in Egypt have been slowed by board changes at the Dubai-based contractor Arabtec Holding, Egypt's housing minister said on Thursday. But Mostafa Madbouly

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Sewage threat over debt row in Bahraini development

A dispute over an outstanding debt of BD1 million ($2.6 million) could leave residents of a luxury housing development in Riffa, Bahrain, in a river of sewage. Dubai-based Metito, which operates a plant that treats wastewater in R

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House prices soar in Riyadh despite new supply

The residential prices in Riyadh, Saudi Arabia, have risen by five to seven per cent in the past year and are expected to continue to move in an upward direction in the short- to medium-term, with new supply unlikely to be able to fully o

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Nakheel seals Palm Jumeirah housing deal

Nakheel, one of the world’s leading developers, has reached an agreement with Souq Residences, a joint venture between IFA Hotels & Resorts and Istithmar World, on the Golden Mile mixed-use development on Palm Jumeirah in Dubai, UAE.

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