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Saturday, 04 July 2009 23:09 UAE time

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Dubai's Emaar shuts Algeria office as projects stall

Dubai's Emaar shuts Algeria office as projects stall

Real Estate
Lack of progress on its projects in the North African country forces Emaar's move.

  1. Is a merger best?
  2. Emaar sees Dubai developers merger within 4 months

Qatar's Barwa defrauded by a South African - source
Real Estate
South African businessman admits to forging documents to deceive Qatar's Barwa.

Dubai developer Deyaar appoints new chairman
Real Estate
Abdulla Al Hamli replaces Nasser Al Shaikh who resigned last month.

$543m Mirdiff Hills project on hold
Real Estate
DIRC boss says investors will get 100% refund after project shelved due to lack of mortgage finance.

more »MIDDLE EAST REAL ESTATE COMMENT

Everyone’s talking nonsense
Anil Bhoyrul argues that with no real property data available, sellers are lying about their prices.

 Anil Bhoyrul  

Property market fails its big test
Anil Bhoyrul argues that the UAE’s first property auction is proof the market hasn’t bottomed out.

 Anil Bhoyrul

more » MIDDLE EAST MARKETS DATA

DFM

Last Price:

0.00

0.00%

4 Jul 2009 15:09 GMT
(Market Closed)

ADX

Last Price:

2,671.29

+42.51+1.62%

2 Jul 2009 09:59 GMT
(Market Closed)

SSE

Last Price:

5,488.61

-110.77-1.98%

4 Jul 2009 08:42 GMT
(Market Closed)

CURRENCY CONVERTOR


more »OTHER MIDDLE EAST BUSINESS NEWS STORIES

Banking & Finance

  1. Saudi Alinma Bank opens first branches
  2. Bahrain's Gulf Finance House denies merger talks

Construction & Industry

  1. UK contractors in Dubai must be paid - UK trade minister
  2. Saudi Qassim Cement mulls 100% bonus share issue

Culture & Society

  1. Dubai music chief mugged at knifepoint in Jo’burg
  2. Massive demand for Jackson memorial tickets

Education

  1. Some UAE private schools may start on time - paper
  2. UAE schools to extend hours amid late start - paper

Energy

  1. Kuwait needs oil majors to hit targets - minister
  2. Gasoline prices down on demand concerns

Healthcare

  1. Oman reports new swine flu case
  2. UAE confirms three new cases of swine flu

Islamic Finance

  1. Islamic banks need to revamp business model - E&Y
  2. Dow Jones launches Islamic Index

Media & Marketing

  1. 'Newsweek' reporter faces Iran trial: lawyer
  2. Ibn Battuta Mall cinemas saw record weekend admissions

Personal Finance

  1. HSBC sees 'rapid increase' in customer 'skips'
  2. Car giant offers UAE's first free redundancy cover

Politics & Economics

  1. Dubai inflation slows to 5.4% in Jan-May '09
  2. Saudi exporters demand duty on Chinese imports

Real Estate

  1. Dubai's Emaar shuts Algeria office as projects stall
  2. Qatar's Barwa defrauded by a South African - source

Retail

  1. Abu Dhabi June gold sales up on summer buying spree
  2. 200 people arrested in Dubai counterfeit crackdown

Sport

  1. What's happening at Wimbledon?
  2. Chelsea rejects Man City’s bid for captain Terry

Technology

  1. Iran strips Zain of mobile licence - report
  2. Saudi man held in $2,463 phone bill mix-up

Transportation

  1. Nasair launches new routes
  2. Air Arabia-DIB launch online ticket payment service

Travel & Hospitality

  1. Dubai’s Palazzo Versace on track
  2. Mideast tourist numbers drop in Jan-Apr - report

more »MIDDLE EAST BUSINESS EVENTS

UPCOMING EVENTS

  1. Virtual ICT Exhibition & Conference - Middle East - On demand - 22 May - 31 October 2009
    22 May 2009 | , United Arab Emirates
  2. Boiler Technology, Processes & Management
    28 June 2009 | Dubai, United Arab Emirates
  3. Boiler Tube Failures & Maintenance
    28 June 2009 | Dubai, United Arab Emirates
See all events »

MORE REAL ESTATE STORIES

  1. Sorouh to revise payments for Gate Towers investors
  2. Dubai property prices set to rise in Q4 - Sherwoods
  3. Investors fear UAE property market has yet to hit bottom
  4. Moody's downgrades Dubai Holding amid merger talks
  5. S&P affirms DHCOG’s ‘A’ rating.
All Real Estate news stories »

SPOT POLL

What do you think about predictions for the UAE real estate market?

It's already hit the bottom.
There's still another 20-30% correction to come.
It's now on the road to recovery.
Nothing's going to change until the end of the year.
ArabianBusiness.com/Jobs - Middle East Jobs Search
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    Industry: Property
    Location: Dubai, UAE
  2. Assistant Legal Manager
    Industry: Property
    Location: Dubai, UAE
Browse all jobs »

UPCOMING ISSUE


 

READER COMMENTS

Reader Comments (24 hrs)

  1. Dubai's Emaar shuts Algeria office as projects stall 1
    04 Jul ' 09 at 15:39
    Emaar was never more brilliant than when it concentrated on Dubai, its core business. Going on travels to Algeria, the States, places...  More »
  2. $543m Mirdiff Hills project on hold 1
    04 Jul ' 09 at 11:59
    If I am not mistaken this is the same project that was being sold as Midas Mirdif Hills by M Holding.The report does not give any...  More »
Read all user comments >

BUSINESS FEATURES

Back to basics

A meltdown in the Gulf’s real estate sector is pushing developers to consider building cheaper accommodation.

Lawyers rejoice as property slump turns nasty

The real estate crash is providing rich pickings for lawyers called in to deal with a rash of construction lawsuits.

Moving on

Dubai's real estate crash may prove to be good news for mid-income earners in countries far a field, Deyaar CEO says.

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