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Archive for the ‘Middle Eastern Property’ Category

Dubai Revives Three More On-the-Shelf Real Estate Projects

by Richard Bayston on Thursday, February 21st, 2013 in Dubai Property

Wind Tower I and II Dubai

Development in Dubai froze or stalled in many cases following the 2008 crash.  But gradually, Dubai’s property market has started to recover and stalled or partially shelved projects are returning.  Dubai’s property market has climbed steeply this year – while it did not make gains comparable to the pre 2008/9 boom years, but still represented among the sharpest gains in the property sector globally this year.

This week three of Dubai’s stalled projects were restarted: two in Jumeirah Lakes Towers and one in Business Bay.  They have been revived under the Dubai Land Department’s (DLD) Tanmia initiative.

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Dubai Revives Three More On-the-Shelf Real Estate Projects

by Richard Bayston on Tuesday, November 13th, 2012 in Dubai Property, UAE Property

Development in Dubai froze or stalled in many cases following the 2008 crash.  But gradually, Dubai’s property market has started to recover and stalled or partially shelved projects are return.  Dubai’s property market has climbed steeply this year – while it did not make gains comparable to the pre 2008/9 boom years, but still represented among the sharpest gains in the property sector globally this year.

Pacific Edmonton Elm Development Revived by Developers in Dubai

This week three of Dubai’s stalled projects were restarted: two in Jumeirah Lakes Towers and one in Business Bay.  They have been revived under the Dubai Land Department’s (DLD) Tanmia initiative.

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Saudi Arabia Is Building A Women-Only City

by Kunle T Campbell on Tuesday, September 4th, 2012 in Saudi Arabia Property

riyad-city-landscape

Saudi Arabia has announced that it plans to construct a women-only industrial city in the country’s Eastern province city of Hofuf. According to Saudi business paper Al Eqtisadiah, the city has been proposed by a group of Saudi businesswomen, represented by Hussa al-Aun, who told the paper, ‘The new industrial city should have a specialized training centre to help women develop their talents.’

The city is a proposed solution to an impasse in Saudi national life: women want more independence, and the economy needs their labour, but Saudi society is strictly segregated. The country is governed according to Sharia law, and one result is that women’s lives are highly controlled, to a greater degree than almost anywhere else in the world. Saudi women are, notoriously, forbidden to drive, but are also not legally permitted to travel alone with a man who is not their husband, or to pray at mosques without special female prayer sections. Women will vote in Saudi local elections for the first time in 2015, and the 2012 London Olympics were the first to feature female Saudi athletes.

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Has the Dubai Property Market Recovered?

by Kunle T Campbell on Tuesday, August 28th, 2012 in Dubai Property

Palm Jumeirah Island Dubai UAE

Over the 16 weeks leading up to August 26, Dubai saw a bullish market driven by property.  On Sunday August 12, Nakheel announced that demand was expected to remain high for properties on the island.  The Dubai developer made the statement as it announced the sale of a 305,704sqft plot for Dh1,302 ($520) per square foot to an unidentified local investor.

Nakheel went on to state that the value of residential plots ion the Palm – particularly on Frond N – had increased by 30 per cent in the past year. ‘We have seen a very healthy demand in the first half of 2012, and this looks set to continue for the year,’ Nakheel said, quoting a spokesman.

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Can the UAE ‘Fly’ its Way Out of a Property Slump? – Abu Dhabi’s Thriving Aviation Sector

by Overseas Property Mall on Tuesday, November 22nd, 2011 in Dubai Property, Travel, UAE Property

The UAE seems well perched on the formidable wings of its soaring aviation industry. Markets are swiftly jetting towards the promise land of both recovery and progress. The region is close to realising its long held ambition of piloting growth independently off its naturally occurring oil reserves (UAE is the 4th largest exporter of oil in the world), and is strategically building upon its tourism industry to provide the necessary traction.

Emirates Boeing 777 Airpot Landing

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Emaar’s Dubai Bank Write-Off Sends Profits Tumbling

by Overseas Property Mall on Friday, September 9th, 2011 in Dubai Property, UAE Property

Some mixed news for Emaar properties, one of Dubai’s — state owned — master developers. That is, mixed news, not in a share of good and bad news, but rather in the fact that the bad news was tinged with goodness.

The company posted a 69 per cent decline in net profits for the second quarter of this year, which is obviously not good news. However, the decline was largely put down to the equity-hit the company took for writing off its 30 per cent stake in Dubai Bank, which was taken over by the government earlier in the year. This is being reported as good for the company, because it removes a “corporate distraction” and absolves the firm of any further calls for equity injection. In short: allowing the developer to concentrate on development.

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Dubai Rents ONLY Fell 17% in 2010

by Overseas Property Mall on Thursday, February 24th, 2011 in Dubai Property

During the boom Dubai property became world famous for world firsts; a group of man-made islands in the shape of a palm tree here, the world’s tallest tower there, and a group of man-made islands in the shape of the world somewhere else. However, since then it has become famous for a whole other set of recorded firsts.

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WikiLeaks: Afghan vice-president ‘landed in Dubai with $52m in cash’

by Overseas Property Mall on Tuesday, December 14th, 2010 in Dubai Property

We recently reported on the massive Dubai property buying spree as members of the Afghan government and Kabul Bank directors bought up dozens of properties using suitcases of cash — literally.

But it is only in new US diplomatic cables that have been released by Wikileaks that we find out the true extent of the apparent corruption, theft and the powerlessness of the US government to spend all our money (taxpayers funding the money tap) on luxury properties leaving the Afghan population to live in squalor.

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Drawing Parallels between Florida’s Property Bust in the 1920s and Dubai’s Boom & Burst

by Overseas Property Mall on Wednesday, December 1st, 2010 in Dubai Property, Florida

We all know about the US real estate bubble bursting in 2006, which was probably one of the largest contributory factors in the US financial crisis, along with the deregulation of lending practices. One of the hardest hit areas is Florida when its huge real estate bubble burst. This was not the first time that a Florida real estate bubble had burst, and in fact there are many parallels between the first Florida real estate boom and bust and the current bust.

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Can Israel Shape up to be Next Dubai?

by Overseas Property Mall on Monday, November 22nd, 2010 in Israel Property

Israel is currently one of the hottest property markets in the world. With prices up 46% since 2008 in Tel Aviv, and Global Property Guide ranking the country’s property prices the 6th fastest growing in the world, with 4 of the other 5 recovering from a sharp drop, the Israeli property market is currently attracting more attention than ever.

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