Baniyas launches new units in Bani Yas City Abu Dhabi-based Baniyas Investment and Development Co. (BID) has announced the launch of new apartments within its Bawabat Al Sharq project in Bani Yas City. The new Bawa...
DIP tower ready for handover Dubai Investment Properties (DIP) has said that it has started commissioning of services for the firm's commercial development, Single Business Tower, Gulf News has repor...
Maspero to seek Cairo project partner Sherif Hafez, CEO of Egypt-based Maspero for Urban Development has said the firm will seek a strategic partner next year for a $3bn-4bn project it is spearheading, to tur...
AECOM wins Capital District contract The Abu Dhabi Urban Planning Council (UPC) has appointed US-based architectural, engineering and construction management firm, AECOM, to manage the infrastructure for the...
Bilfinger considers Qatar pull-out Herbert Bodner, chief executive of German construction firm, Bilfinger has said the company is considering pulling out of Qatar due to a disagreement with local construct...
Amlak posts Dhs45m Q3 loss Dubai-based mortgage lender Amlak Finance has announced its net loss for Q3 stood at Dhs45m, lower than losses recorded in the first and second quarters of 2009. Total lo...
Knight Frank: 40% of Dubai office space empty According to real estate broker Knight Frank LLP, about 40% of Dubai's office space is currently empty after the emirate's construction spree outpaced demand, Bloomberg h...
Emaar to continue Egypt projects Emaar, Dubai's largest listed real estate firm, has said it was committed to completing all projects it has previously announced in Egypt, Reuters has reported. 'Egypt is...
Debt crisis to erode Dubai housing prices Property prices in Dubai are likely to see further decline amid concerns over the availability of finance, Reuters has reported, citing analysts. 'The news plays on inves...
Samsung halts Dubai bridge work amidst Dubai debt crisis Samsung C&T Corp. has said it has stopped work on a $350m bridge linking Dubai to the man-made Palm Jebel Ali island, after Nakheel halted payments for two months, Bl...
Abu Dhabi to curb housing construction Abu Dhabi plans to limit construction of new properties in the emirate to avoid the housing oversupply and price declines that slammed the real estate market in neighbori...
Damac awards construction tender Dubai-based developer Damac Properties has awarded Dar for Trading & Construction (DETAC) the construction contract for Park Avenue, Cairo-Alex Desert Road. The proje...
Emaar cancels deal with City Cool Emaar Economic City, the Saudi-based affiliate of Dubai's Emaar Properties, has said it has cancelled a SR650m agreement with UAE-based City Cool, but has not given a rea...
Christian Lacroix to design new Dubai tower Kuwait-based Abyaar Real Estate Development Co has partnered with French fashion designer firm Christian Lacroix to establish a residential tower in Dubai. The 38-unit, c...
Orascom's Q3 profit down 41% Egypt's largest publicly traded builder, Orascom Construction Industries, has reported a 41% fall in third-quarter net profit to $120.7m, Bloomberg has reported. Revenue ...
Iraq to allow foreigners to own land The Iraqi parliament has passed an investment law which would allow foreigners to own land for housing projects, Reuters has reported. Iraq's old real estate laws only al...
Dubai begins inspection of unregistered brokerages Dubai's Real Estate Regulatory Authority (RERA), in co-operation with the Dubai Department of Economic Development (DED), has started inspecting real estate brokerage fir...
Tulip ready for 2010 Jumeirah Golf Estates handover Dubai-based Tulip has said that 60% of the construction of its two residential developments in Jumeirah Golf Estates - Olive Point and Sienna Lakes - is complete and that...
Emaar merger talks 'done in one month' Mohamed Alabbar, Chairman of the Dubai-based developer, Emaar Properties has said he expects 'technical talks' for the planned merger with state-owned developers Dubai Pr...
Emaar India unit plans to sell shares Emaar Properties has announced plans an initial share offering in India, Bloomberg has reported. The New Delhi-based Emaar MGF Land Ltd. is planning to raise $800m in a p...
Tamweel-Amlak merger to complete by early 2010 The merger between mortgage lenders Amlak and Tamweel is expected to be completed by first quarter of next quarter of next year, according to news reports. According to T...
Drake + Scull buys German group Dubai-based contractor Drake and Scull International has said it has acquired an 82% stake in Germany's Passavant-Roediger in a Dhs145m deal. The remaining 18% will remai...
Dubai house prices 'to drop 30% further' According to Swiss global financial services firm, UBS, Dubai home prices may drop as much as 30% more and could take at least a decade to recover, Bloomberg has reported...
Fortune Group to use own equity to fund projects Dubai-based developer, Fortune Group has said that due to defaults by customers the firm will use its own equity to complete the Fortune Executive Tower in Jumeirah Lake ...
Barwa names Bouygues as Financial District contractor Qatar's Barwa Real Estate has selected French infrastructure company, Bouygues SA, to build Barwa's QR4.75bn ($1.3bn) real estate project in Doha. The 500,000 sqm Financi...