NEWS & EVENTS >>
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• Drake and Scull to buy two companies Sunday, July 26, 2009, 11:25:00 AM
Dubai-based engineering firm, Drake & Scull is in final negotiations to acquire two construction companies as it seizes expansion opportunities in... [AMEinfo.com]
• NBAD plans Eurpean property fund Sunday, July 26, 2009, 4:45:00 AM
National Bank of Abu Dhabi (NBAD) will offer loans to European property companies struggling to get credit in the economic downturn, UAE daily the National reported on Sunday. [Maktoob.com]
• Saleh Constructions begins work at Lifestyle City Saturday, July 25, 2009, 11:45:00 AM
ETA Ascon's Dubai Lifestyle City (DLC) development project located in Dubailand has announced the commencement of construction work on the project. [AMEinfo.com]
• $41,000 parking spot fee angers home buyers Friday, July 24, 2009, 8:11:00 AM
Home buyers on an Abu Dhabi development by Hydra Properties, which is already under fire from investors, say they were upset when they learned they would be charged 150,000 dirhams ($41,000) for a parking spot. [Maktoob.com]
• Depa boss sees Gulf property market revival by 2011 Friday, July 24, 2009, 12:01:00 AM
The property markets in the Middle East will start to recover by the beginning of 2011, the head of a firm, a Dubai-based interior fit-out giant has said, according to a report. [Arabianbusiness.com]
• $930bn-worth projects underway in the UAE - paper Friday, July 24, 2009, 12:00:00 AM
A total value of nearly $930bn-worth projects in the construction and other sectors are underway in the UAE, according to a report. [Arabianbusiness.com]
• Tameer delivers Palace Towers Thursday, July 23, 2009, 11:17:00 AM
Tameer Holding Investment has announced the successful completion of its Palace Towers development, a complex of 424 residential apartments... [AMEinfo.com]
• Arabtec cut to 'underweight' Thursday, July 23, 2009, 11:14:00 AM
HSBC Holdings has cut the rating of Arabtec Holding PJSC, the UAE's biggest construction company, from 'heavyweight' to 'underweight' citing 'faster margin deterioration' and... [AMEinfo.com]
• Dubai to crack down on villa sharers Thursday, July 23, 2009, 7:19:00 AM
Dubai will impose fines of up to 50,000 dirhams ($13,000) on tenants and landlords if villas are occupied by members of more than one family as the city cracks down on the sharing of homes, UAE daily the National reported on Thursday. [Maktoob.com]
• Bukhatir to develop $5 bln project in Tunisia Thursday, July 23, 2009, 5:13:00 AM
Sharjah’s Bukhatir Group, one of the companies behind Dubai Sports City, will create a $5-billion, sport-themed real estate development in Tunisia as it expands overseas, UAE daily the National reported on Thursday. [Maktoob.com]
• Emaar's India unit still considering IPO Thursday, July 23, 2009, 5:04:00 AM
Emaar MGF, a joint venture between Emaar Properties India's MGF Development Ltd, is still looking at raising funds through an initial public offering after a failed attempt last year, the Dubai-based developer said on Thursday. [Maktoob.com]
• UK government 'monitoring' contractor debt Thursday, July 23, 2009, 12:01:00 AM
The UK government on Thursday reiterated its call for contractors to be paid by Dubai developers – and said it was ‘continuing to monitor the situation’. [Arabianbusiness.com]
• Dubai's Emaar still mulls IPO for India MGF venture Thursday, July 23, 2009, 12:00:00 AM
Emaar Properties is still considering an initial public offering for its India MGF joint venture, in line with its strategy announced last year, the Dubai-based developer said on Thursday. [Arabianbusiness.com]
• Sorouh Q2 profit plummets 78% Wednesday, July 22, 2009, 3:36:00 PM
Abu Dhabi-based Sorouh Real Estate has reported that its second-quarter profit fell 78% compared to the same period in 2008 due to a decline in land sales. [AMEinfo.com]
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