Latest Property News

RESULTS OUT: Emaar Properties has announced 2008 net operating profit of AED5.5 billion. (ITP Images)

Emaar announces $1.5bn profit, down 15%

Property giant's chairman says company is facing new 'economic realities' in downturn.
PETITION DENIAL: RERA's CEO says he never received a petition from 300 investors in Dubai property.

RERA chief denies petition from worried investors

Watchdog CEO says he did not receive letter of concern reportedly signed by 300 investors.
LAGOON PROGRESS: An artist's impression of part of the Dubai Lagoon project.

Contractor picked to complete Lagoon project

Developer makes new pledge to step up progress on much delayed $817m scheme.
TALL ORDER: Property in Moscow, which came in second place, costs $20,853 per square metre. (Getty Images)

Dubai property 15th most expensive in the world - study

Monte Carlo tops list; Dubai draws average price tag of $7,151 per square metre.
PRICE REVISION: Bloom Properties in Abu Dhabi has said it is actively reviewing prices and payment plans for existing customers. (Getty Images)

Abu Dhabi developer offers to renegotiate prices

Bloom Properties is ofering to review customer's price and payment plans.
SHORT FALL: Aldar's Q4 profit tumbled 85% due to lower sales in poor market conditions. (Getty Images)

UAE's Aldar to shift focus to mid-range properties

Abu Dhabi's biggest developer rejigs future project plans amid demand slump.
QATAR BUBBLE: Markaz has warned that the country could face the same correction in property prices as Dubai. (Getty Images)

Bank warns Qatar's property 'bubble' may burst

Markaz calls for a 'close watch' on the Qatar real estate sector following Dubai's downturn.
LIVE AMICABLY: In Dubai, 135 administrative order files were registered in comparison with 274 in 2007. (Getty Images)

Rent disputes dropped 50% in 2008 – Rera

Gulf emirate sees 369 rent execution files in 2008 compared to 735 in 2007.
RENTAL RELIEF: Official figures show Qatar's rental index gained 13.7% in Q4 compared with a year earlier. (AFP)

Qatar house prices to fall 10% in 2009 - Colliers

Property consultant feels stable economy and rising population may cap further falls.
SUPER RICH: Billionaires are snapping up villas and apartments within Al Barari. (Getty Images)

Super-rich snap up Al Barari properties

EXCLUSIVE: $6.4bn luxury residential development has 'more billionaires than anywhere in world'.
ECONOMIC CITY: RAKIA plans to build a $5 billion business centre in Hyderabad. (Google Maps)

RAK plans $5bn economic city in India

Investment arm of RAK to build business centre in Hyderabad to expand abroad.
CAPITAL GAINS: Abu Dhabi-based real estate firm Sorouh more than tripled third quarter profits. (Getty Images)

Sorouh Real Estate triples Q3 net profit

UPDATE 1: Abu Dhabi-based property company says Q4 should be just as strong.
PROFITS DOWN: Emaar Properties saw third quarter profits down by nearly four percent. (ITP Images)

Emaar Properties Q3 profits fall by 3.8%

UPDATE 1: Developer posts net profit of $408mn after taking writedown relating to US unit.
UPBEAT MOOD: Real estate bosses have dismissed reports of the predicted downturn in the UAE property market. (Getty Images)

Real estate chiefs dismiss 'correction' reports

Property companies says Gulf, and UAE in particular, is still good place to invest.
PROFITS BOOST: First Dubai's vice chairman Khalid Esbaitah. (Supplied)

First Dubai posts 1,130% profit rise

Real estate company says profits for 2008 so far hit $130mn, compared to $10mn previous year.
CAPITAL PROOJECTS: Al-Oula plans to build 4,200 units in Riyadh (pictured) with Egypt's Talaat Moustafa Group. (Getty Images)

Saudi developer Al-Oula to raise $800mn via sukuk

Two-year timetable to obtain credit rating and finance expansion plans.
AIMING LOW: Naseej says there is still demand for low-end housing in the market. (Getty Images)

Bahrain $265mn IPO to go ahead despite crunch

Developer Naseej to seek funds from market in Nov., says business model unchanged.
CUT COSTS: Nakheel may scale back its huge land reclamation projects to curb costs. (ITP Images)

Nakheel may scale back land reclamation

Developer looks to cut costs, but says no need for external financing until 2010.
HOUSING SHAKE-UP: Abu Dhabi is mulling over plans for new real estate laws. (Getty Images)

New real estate laws in pipeline for Abu Dhabi

EXCLUSIVE: Municipality in talks over radical shake-up to property market.
OFF-PLAN SALES: CEO Chris Dommett says the off-plan property market is cooling. (Supplied)

Buyers 'more cautious' over off-plan buying

Mortgage expert says global crisis is having impact on speculative buying.

Module mpu1 didn't load

Advertisement