Top Three Places to Invest Within Africa and Middle East for 2009

Top 3 Places To Invest In Africa & Middle East For 2009
Express Press Release (press release) - Las Vegas, NV, USA
The overseas property portal Homesgofast.com which promotes real estate in over 70 countries has predicted its top three places to invest within Africa and Middle East for 2009. The portal predicts that Dubai, Egypt and Tunisia will see the most activity from international property investors. ...

Significant Gas Discovery in Egypt's Nile Delta

Dana Gas Announces Further Gas Discovery In Egypt
Zawya
Sharjah, 29 December 2008: Dana Gas, the Middle East's first and largest regional private sector natural gas company, has announced a significant gas and condensate discovery at its El Basant-2 well in the Nile Delta Concession in Egypt. ...

Saudi Al-Radwan Contractors Awarded SR325 Million Contract to Build 134 Villas

Emaar, The Economic City awards SR325 million contract to Al-Radwan for building 134 villas within KAEC
Zawya - United Arab Emirates
Jeddah, Saudi Arabia; December 29, 2008: Emaar, The Economic City (Emaar.E.C), the Tadawul-listed company developing King Abdullah Economic City (KAEC), has signed a SR325 million contract with Al-Radwan Contractors, a leading Saudi Arabian construction company, to build 134 villas within the Resort Cove.

NetSol Technologies Inc. (NTWK) Awarded Major Consulting Contract in United Arab Emirates (UAE).

NTWK: Awarded Major Contract w/Commercial Bank in UAE
Trading Markets (press release) - Los Angeles, CA, USA
NetSol Technologies, Inc. (NTWK) has been awarded a major consulting services contract with a leading commercial bank located in the United Arab Emirates (UAE). Under the recently signed agreement, NetSol will provide consultancy services in the areas of information security and quality engineering. ...

New State-of-the-art Factory in Techno Park at Dhs58 Millions

Al Islami Foods to build new factory at Dubai TechnoPark
Al-Bawaba - Amman, Jordan
Despite a harsh economic turmail, Al Islami Foods today revealed determination to continue its growth plan in the region. In another milestone development, the leading halal food producer has announced an investment of over Dhs58 million in a state-of-the-art factory in Techno Park, a fully owned subsidiary of Economic Zones World. ...

FinnOne - Nucleus Software Integrated Products for Banks and Financial Institutions Expands

Nucleus Software expands in the UAE
Business Standard - Mumbai, Maharashtra, India
FinnOne, the flagship product of Nucleus Software Exports Ltd, a provider of integrated software products for banks and financial institutions, has been selected by UAE-based mortgage provider, Abu Dhabi Finance for all its mortgage-related processes, the company said in a filing to the Bombay Stock Exchange. ...

Contract Worth $32 Million Won by Depa Dubai

Depa of Dubai Wins $32 Million Contract at Singapore Resort
Bloomberg
Dec. 29 (Bloomberg) -- Depa Ltd. , the United Arab Emirates-based interiors contractor fitting out the world's tallest tower in Dubai, won a 118 million-dirham ($32 million) contract at a holiday resort in Singapore. ...

Facilities Management (FM) Industry in UAE to Exceed $10 Billion Despite Global Financial Crisis

Facilities management industry set to hit $10bn
Gulf Daily News - Manama, Bahrain
DUBAI: The facilities management (FM) industry in the UAE remains upbeat with a projected value exceeding $10 billion by 2012 despite the current global financial crisis, said an industry expert.

Gulf Summit Agenda - Muscat 29th Dec 2008

GCC Summit Agenda
Zawya
Muscat/Riyadh: The fallouts of the global financial crisis, the GCC monetary union and the unified railways are expected to dominate the two-day 29th Gulf Summit, starting in Muscat on Monday.
The summit will also look into falling oil prices and sea piracy in the Gulf of Aden, Gulf officials told Gulf News. ...

Dow Chemical's $17.4 Billion Joint Deal Gets Scraped

Kuwait Scraps $17.4Bn Dow Chemical Joint Deal

Zawya

Kuwait yesterday pulled the plug on a $17.4bn deal with Dow Chemical, the US's largest chemicals group,days before it was to come into effect.

A Kuwaiti official told the Financial Times that the deal had been cancelled partly as a result of the decline in the value of Dow Chemical's assets and partly as a result of pressure from Kuwait's parliament. ...

"Confident Group" to Commence Hotel Projects

Confident group carries on with hotel projects
Economic Times - Gurgaon, Haryana, India
Confident group is a conglomerate with interest in infrastructure , hospitality, airlines and Entertainment. Confident Group is a zero debt group. The group has large real estate projects in Bangalore, Kochi, Trivandrum and Dubai. The group is the largest selling brand amongst developers with Projects in Bangalore, Kochi, Trivandrum and Dubai. ...

 

Saadiyat Island Website Information

Saadiyat Island | View
Saadiyat Island - which translates from Arabic as Island of Happiness - is the largest single mixed-use development in the Arabian Gulf. ...

Thousands of Layoffs in Dubai as a Result of Economic Crisis

Labor complaints have tripled in Dubai
Arab News - Jeddah, Saudi Arabia
DUBAI: As companies in Dubai announce thousands of layoffs as a result of the economic crisis, Ministry of Labor officials in the emirate are struggling to deal with an unprecedented number of complaints they receive everyday. ...

Healthcare Deal Signed for Major Health Survey in UAE

MoU signed for UAE health survey
GulfNews - Dubai, United Arab Emirates
Dubai: The Ministry of Health and Nestle (Middle East) signed a Memorandum of Cooperation (MoC) to run a World Health Survey in the UAE.

The survey, initiated by the World Health Organisation, aims to compile comprehensive baseline information on the health of the population and the outcomes associated with investments in health systems. ...

Bid for Banyan Tree Hotel at Al-Gurm Abu Dhabi

Aldar invites firms to bid for Abu Dhabi hotel work
cnplus.co.uk

Local real estate developer Aldar Properties has invited companies to bid by 6 December for the contract to build the Banyan Tree hotel at its Al-Gurm development in Abu Dhabi.

The prequalifiers include the local Arabtec Construction, the local/Belgian Six Construct Abu Dhabi, Germany's Ed Zueblin, the local Cypriot Abu Dhabi J&P, the local Target Engineering Construction Company and Greece's Terna. ...

Dubai RTA Tender for Retail Space is out

RTA puts out tender for retail space
GulfNews - Dubai,United Arab Emirates
Dubai: The Roads and Transport Authority (RTA) has put out a public tender to lease retail commercial outlets at 47 Dubai Metro stations on both the Red and Green Lines. ...

Work on Several New Airports Across the Saudi Kingdom Started

Saudi Budget Paves The Way For New Airports
Zawya

JEDDAH - Saudi Arabia's 2009 state budget has cleared the way for work to start on several new airports across the Kingdom, Abdullah Nour Rahimi, chief of the General Authority of Civil Aviation announced. ...

Iran to Invest $150 Bln In Energy Sector Over 10 Years

Iran: $150B To Be Invested In Energy Sector In 10 Yrs
Zawya

Industries Development and Renovation Organization (IDRO) will invest more than dlrs 150 billion in oil, gas and petrochemical sectors during the next ten years. …

New Hotel Rooms In Saudi to Reach 50,000

50,000 New Hotel Rooms In Saudi In 3 Years Zawya
A report has shown that there are 124,662 hotel rooms in the Kingdom of which 9,100 rooms are in Riyadh, and that 50,000 rooms are currently being constructed in various parts of the Kingdom. ...

Wael Tawil Appointed CEO of Bani Yas Investments & Development Company

Bani Yas Investments & Development Company names new CEO
Zawya - United Arab Emirates
Abu Dhabi, September 24^th, 2008: Baniyas Investments and Development Company (BID) announced the appointment of Wael Tawil as its Chief Executive Officer (CEO). The BID Board of Directors also announced Mr Tawil as Managing Director of Al Maha Investments, a subsidiary of Emirates International Investment Company. ...

Leighton Holdings Won a $460 Million Contract for Queensland's Eastern Busway

Leighton Holdings facing tougher times
The Australian - Sydney, Australia
AFTER missing out on Brisbane's third major tunnel project, the $2.6 billion Northern Link, Leighton Holdings had a minor victory yesterday when it won a $460 million contract to construct Queensland's Eastern Busway. ...

Thousands of UAE's Construction Workers Laid Off and 45% may be Sacked

UAE Ministry, Missions Brace for Mass Repatriation

Zawya

Thousands of laid off construction workers have applied for visa cancellations and the Abu Dhabi Chamber of Commerce predicted on Tuesday that as many as 45 per cent of such labourers might be sacked. ...

Kevin Donovan Appointed EGMI Chief Executive Officer

EGMI: Appointment of Kevin Donovan as CEO
Trading Markets (press release) - Los Angeles, CA, USA
Electronic Game Card, Inc. (EGMI) announced that Kevin Donovan will join the Company as its Chief Executive Officer, effective February 1, 2009. Mr. Donovan has over 25 years experience in corporate branding and licensing with prominent entities such as the 2002 Winter Olympics, professional sports properties and entertainment media companies. ...

Ras Al Khaimah Investment Authority Plans to Jointly Build Rs14,000 Crore Project in Indonesia

Nalco and UAE minerals firm to invest in Indonesian project
domain-B - Khandala, Maharashtra, India
National Aluminium Co (NALCO) and RAK Minerals and Metals Investment (RMMI), promoted by the Ras Al Khaimah Investment Authority, UAE, plan to jointly build Rs14,000 crore project in Indonesia. ...

Tunisia's Financed Projects will not be Scrapped or Delayed

Tunisia sees no investment setback from downturn
Reuters - USA
TUNIS, Dec 23 (Reuters) - High-profile projects in Tunisia financed by Arab Gulf investors will not be scrapped or delayed because of falling oil prices and the global economic downturn, a senior government official was quoted as saying on Tuesday. ...

Dominique Jakob's Most Architecturally Radical Building Built in Paris

The architecture of Paris re-emerges
Times Online - UK
They're like two ends of a see-saw, London and Paris. One rises, the other falls. I think it might be our turn again." Brendan Macfarlane has been waiting for this moment. The co-founder with Dominique Jakob of the hottest architectural firm in France — Jakob Macfarlane — has just left his calling card: the most architecturally radical building built in the centre of Paris since I. M. Pei stuck a glass pyramid in the Louvre in the 1980s. ...

New Cooperation for Consultancy and Management of Healthcare Services

SS Lootah sign MoU with UKE Consult and Management, Germany
AME Info - United Arab Emirates
UAE based conglomerate S.S. Lootah Group and German-based UKE Consult and Management GmbH (UCM), the international arm of the University Medical Center Hamburg -Eppendorf (UKE), are pursuing a new cooperation agreement for comprehensive consultancy and management of healthcare services. ...

National Real Estate Company (NREC) Signed Multi-million Dollar Agreement with EHAF Consulting Engineers (EHAF)

NREC Announces Multimillion Dollar Egyptian Real Estate Venture with Leading Engineering Firms
Zawya - United Arab Emirates
National Real Estate Company (NREC) announced the signing of a multi-million dollar agreement with EHAF Consulting Engineers (EHAF) and Callison today for the development of the prestigious Grand Heights Project at 6 October Governorate, in Egypt, which is designed to become a high-standard self-contained city on the outskirts of Cairo.

Tunisia's Project Gets Go Ahead for Sama Dubai

Tunisia: Sama Dubai Project goes on. The government has been assured.
African Manager - Ariana, Ariana, Tunisia
The  Sama Dubai  project will  go ahead as scheduled. The government has officially received assurances from Emirati investors themselves. ...

Bechtel Power Won Contract to Help Design Egypt's First Nuclear Power Station

US Bechtel Wins Egypt Nuclear Power Contract

Zawya
The US company Bechtel Power has won a 10-year contract worth one billion pounds (180 million dollars) to consult on and help design Egypt's first nuclear power station, state media said on Monday. ...

Job Cuts in Dubai Continues to Rise

Layoffs continue in Dubai property market
AME Info - United Arab Emirates
Layoffs by consultants and contractors in Dubai's real estate market are climbing, MEED has reported. Sama-ECH, the joint venture of local developer ...

Jeddah Houses will have Water and Sewage System

Opportunities abound for private sector in development of Jeddah
Trading Markets (press release) - Los Angeles, CA, USA
Every house in Jeddah will have running water from taps and an integrated sewage system within the next five years, stressed Vice Mayor for Planning and Urban Development at Jeddah Municipality Abdulgadir Amir. ...

Saudi Budget to be Unveiled on Monday

King Abdullah To Unveil Saudi Budget

Zawya
RIYADH - Global attention will be focused Monday on Saudi Arabia when King Abdullah, Custodian of the Two Holy Mosques unveils the Kingdom's 2009 budget in the afternoon and addresses the nation.

Fairmont's New Project in Egypt

Fairmont enhances residential portfolio with new project in Egypt
AME Info - United Arab Emirates
Fairmont Hotels & Resorts today announced a new addition to its growing residential collection, Fairmont Residences, Zamalek Island, Cairo.

Located on the banks of the Nile River on Gezira Island in the highly sought-after Zamalek District, the residences lie between modern downtown Cairo and Giza, an exquisite place to call home. ...

Undersea Cable Damages Hits Mostly India, Qatar and United Arab Emirates

Cable damage hits India, Qatar and UAE hardest
Arabian Business

Damage to three major undersea cables seriously disrupted more than half of internet and phone services between Europe, the Middle East and Asia on Friday, with India, Qatar and the United Arab Emirates the worst affected, France Telecom said. ...

UAE-Indian Based Comapny to Build US$4 Billion Power Plant and Aluminium Smelter

India, UAE firms to build $4b smelter
Jakarta Post - Jakarta, Indonesia
An India-based aluminium producer and a company from the United Arab Emirates (UAE) plan to spend US$4 billion to build a smelter and supporting infrastructure, including a power plant, in Tanjung Api-api, South Sumatra. ...

Case Study on Dubai Energy Sector

A study on the 'Energy Sector' in Dubai
AME Info - United Arab Emirates
UAE is a major oil producing country, Nonetheless, there are serious moves towards reduction of energy utilization leading to carbon emission and development of alternatives to carbon-based fuels for power and cooling. ...

 

Buyer will Create New UK Subsidiary with Collapsed Firm

Confluence buys Pettifer's project management arm
Building.co.uk - UK
International project management group Confluence has bought the project management arm of failed contractor Pettifer for an undisclosed sum.
Guy Scott, Confluence's managing director, said the firm was creating a new UK subsidiary, Confluencepcm, bringing together the two companies. ...

UAE Orders $3.3 Advanced Patriot Air Missiles

Raytheon gets UAE order worth up to $3.3 billion
MarketWatch - USA
By Michelle Donley , , ) said Thursday that it has been awarded an order of up to $3.3 billion to provide advanced Patriot air and missile defense ...

National Bank of Abu Dhabi JV with Evans Randall

NBAD & Evans Randall sign MoU to provide mezzanine investments in European real estate
AME Info - United Arab Emirates
National Bank of Abu Dhabi (NBAD) and Evans Randall, a London- based investment banking and private equity group specialising in alternative assets, have signed a memorandum of understanding to form a joint venture to provide mezzanine investments in European real estate. ...

Job Cuts: Al-Shafar Laying Off 500 to 1,000 Jobs

Al Shafar To Cut Between 500-1000 Jobs
Zawya

The CEO of Al Shafar General Contracting (ASGC) has confirmed the firm is laying off between 500 and 1,000 staff.

"The rumours that 2,000 staff are being laid off is untrue," said Bishoy Azmy, CEO of ASGC. "The figure will stand between 500 and 1,000 and will take some time to come into effect. ...

Arabian Global Investments to Announce Real Estate Investments in Coming Months

Arabian Global Investments launched
AME Info - United Arab Emirates
Dubai-based investment firm Arabian Global Investments was formally launched this month and positioned as a tactical and strategic investment corporation which will invest in multiple industries in different regions based on its dynamic venture parameters. ...

Property Services Company Unveiled Investment Opportunities in UAE

Property firm unveils investment opportunities in UAE
Off Plan Property Exchange - Derby, England, UK

A property services company has unveiled a host of new investment opportunities in a UAE state where demand is expected to outstrip supply.

Hamptons International said it had opened a flagship office in Abu Dhabi to showcase an "extensive portfolio" mainly based in the emirate. ...

Qatar $500mn Deal for New Aircraft

Qatar secures $500mn deal for new aircraft - Transportation Zawya Are secondary airports needed in the Middle East, or are the projects underway in the region enough? Design of the times. The Airbus A380 has introduced a new era of air travel, and airport interiors are reflecting a fresh approach. ...

Maritime Industrial Complex Launched at Seatrade Middle East Maritime

Sharjah To Get A $327M Maritime Complex

Zawya
Dubai: A $327 million (Dh1,201 million) state-of-the-art integrated maritime industrial complex in the heart of a free zone has been launched at Seatrade Middle East Maritime. ...

ADCB and Macquarie Group Set up Infrastructure Fund Worth $1 Billion

Abu Dhabi Commercial, Macquarie Form $1 Billion Fund
Bloomberg - USA
Dec. 16 (Bloomberg) -- Abu Dhabi Commercial Bank PJSC, the United Arab Emirates' third-biggest lender by assets, plans to raise as much as $1 billion for an infrastructure fund it has set up with Australia's Macquarie Group Ltd. ...

Korea Electric Power Corp Wins US$ 2.5 Billion Power Plant in Saudi Arabia

Korean-Led Gp Wins $2.5B KSA Power Plant Order
Zawya

SEOUL, Dec 15, 2008 (AFP) - A consortium led by Korea Electric Power Corp has won an order to build a 2.5 billion dollar thermal power plant in Saudi Arabia, the state-run utility firm said Monday. …

Top Executive Prefer Dubai as a Financial Hub

Dubai remains an attractive financial hub for top executives
AME Info
Despite recently announced lay-offs at some banks, Dubai remains an attractive financial hub for top executives. ...

Dubai Maritime City Unveils New ECO-friendly Facility for Boat Lift

Dubai Maritime City unveils new eco-friendly facility for boat lift, cleaning and maintenance services
Mena Report

Dubai Maritime City, the world's first purpose-built maritime centre and part of the Dubai World Group of companies, has announced that boat owners can now avail of new services within the integrated maritime centre including boat lifts, hull cleaning, general below waterline maintenance such as anode replacement, and re-launches in less than one hour.

Port Kembla Outer Harbor Master Plan at USD 1200 Million

Port Kembla to get USD 1.2 billion transformation
SteelGuru - Gurgaon, Haryana, India
Mr Nick Whitlam chairman of Port Kembla Port Corporation has foreshadowed the transformation of the south of Sydney facility at a cost of about USD 1.2 billion to alleviate bottlenecks in the State's other ports. ...

Ain Al-Fayda Villas to be Released by Al-Qudra Real Estate at Acres 08 - Sharjah Expo

Al Qudra Real Estate to release further villas in Ain Al Fayda at Acres 08/ Sharjah Expo
AME Info - United Arab Emirates
Al Qudra Real Estate AQRE) is the Platinum Sponsor at ACRES 2008 scheduled to take place from the 15th to 18th December, 2008 at the Expo Center in Sharjah and will showcase projects at stand number 100. ...

 

MGM To Sell Treasure Island

MGM To Sell Treasure Island For $775 Million; Shares Surge
CNNMoney.com - USA
NEW YORK -(Dow Jones)- MGM Mirage (MGM) said Monday it will sell its Treasure Island Hotel & Casino on the Las Vegas Strip to Ruffin Acquisition LLC for $775 million. ...

Convergys Opens New Office in Smart Village Cairo

Convergys Opens New Office in Cairo
Zawya - United Arab Emirates
Cincinnati and Cairo; December 16, 2008: Convergys Corporation (NYSE: CVG), a global leader in relationship management with some 75,000 employees in many countries around the world, announced today it has opened a new office in Smart Village Cairo, the first fully operational technology and business park in Egypt. ...

Second ACRES Real Estate Exhibition Hosting 100 Firms

Second ACRES real estate exhibition kicks off in Sharjah
GulfNews - Dubai, United Arab Emirates
Dubai: The second ACRES real estate exhibition kicked off in Sharjah yesterday with over 100 real estate firms participating.Shaikh Saud Bin Khalid Bin Sultan Al Qasimi, a consultant in the Sharjah Ruler's office, opened the event and conducted a tour of the exhibition space. ...

Hamptons International Opens New Property Office in Abu Dhabi

Hamptons opens flagship sales office in Abu Dhabi with extensive extensive new property portfolio
Business Intelligence Middle East (press release) - United Arab Emirates
UAE. Hamptons International, a premier one-stop property services company, has opened its flagship office in Abu Dhabi in a central location near the Corniche offering easy access for customers. The flagship office follows the opening of the company's first Abu Dhabi office in May.

Dubai Plans to Construct World’s First Refrigerated Beach

Dubai plans to build refrigerated beach.
Think Progress - Washington,DC,USA
Dubai is planning to construct the world's first refrigerated beach. A system of heat-absorbing pipes and giant wind blowers will "keep tourists cool in the searing 40-50C heat. ...

Equipment Installation at Sheikh Khalifa bin Zayed Hospital in Lebanon Begun

UAE begins fitting of Sheikh Khalifa hospital in Lebanon
WAM - Emirates News Agency - Abu Dhabi, United Arab Emirates
The Emirates Initiative for Support and Construction of Lebanon has commenced installation of equipment at the Sheikh Khalifa bin Zayed hospital in Lebanon.
The hospital is being built under instructions of UAE President H.H. Sheikh Khalifa bin Zayed Al Nahyan. ...

UAE Has Adequate Liquidity for Local Banks

UAE has no liquidity problems, says Al Suweidi (Final ADD)
WAM - Emirates News Agency - Abu Dhabi,United Arab Emirates
WAM XXX today Suweidi said that the UAE Central Bank has adequate resources to pump liquidity to the local banking system, adding that that the government has issued treasury bonds to cover the amount of the stimulus package given to the local banks recently. ...

Four UAE Bank Rating Changed Downwards

Moody's Changes Outlooks on Four Uae Banks
istockAnalyst.com (press release) - Salem, OR, USA
((Source: Info-Prod Research (Middle East)) Moody's Investors Service has today announcedthat it has revised downwards the outlooks on the ratings of four banksbased in the United Arab Emirates (UAE). ...

Qatar’s Strong Economic Performance to Grow 10% in 2009

Qatar economy poised to grow 10% in 2009
Arab News - Jeddah, Saudi Arabia
JEDDAH: Despite global financial turmoil, looming world recession and falling oil and gas prices, Qatar's economy looks poised to grow some 10 percent in real terms in 2009. Qatar's strong economic performance is being fueled mainly by growth in the country's LNG exports. ...

Dubai Companies Gets $8 Billion Finance from Citigroup

Citigroup Arranged $8 Billion of Financing for Dubai Companies
Bloomberg
Dec. 15 (Bloomberg) -- Citigroup Inc. , the global bank that got a $45 billion government bailout, "recently" arranged more than $8 billion of financing for government-owned companies in Dubai. ...

Wärtsilä's Dubai Receives Major Overhauling Orders

PRESS RELEASE: Wärtsilä's New Workshop In Dubai Receives Major Overhauling Orders
Nasdaq
Wärtsilä Corporation, Trade & Technical Press Release, 15 December 2008 Wärtsilä's new state-of-the-art workshop in Dubai, United Arab Emirates, is already proving its value to customers, even though it was inaugurated only in the spring of this year. ...

Dubai Repays $1.2 Billion MGM Loan

Dubai Repays $1.2 Billion MGM Loan on Refinance Cost (Update1)
Bloomberg
Dec. 15 (Bloomberg) -- Dubai World, an investment company owned by the Dubai government, repaid the outstanding $890 million of a loan it took to fund the purchase of a stake in MGM Mirage as the cost of refinance was "uncompetitive." ...

13 Hilton Garden Inn Property Deals

First ME Multi-Unit Hilton Garden Inn Deal Signed
Zawya

Dubai: 14 December, 2008 - Hilton Hotels Corporation has entered into a non-exclusive Strategic Development Agreement (SDA) with the Abdulmohsen Al-Hokair Group for Tourism and Development, with the potential to deliver 13 Hilton Garden Inn properties (comprising 2,500 rooms). ...

Architects Working on a Multi-million Project in Dubai

Belfast architects' firm designs towering £125m Dubai project
Belfast Telegraph - United Kingdom
A firm of architects is working on a multi-million project in Dubai — from their offices in Belfast.

RKD, which employs 10 people at its Lisburn Road office, successfully tendered for work on two multi-storey tower blocks in Meydan City and on Jebel Ali, a man-made island with the world's biggest artificial harbour.

The towers are costing developers £125m and should be finished by the middle of next year. ...

Bahrain Encourages Family Tourism

New projects to power growth
Gulf Daily News - Manama, Bahrain
THE increase in commercial complexes in Bahrain will further provide job opportunities and strengthen the role of the services sector, Crown Prince and Economic Development Board chairman Shaikh Salman bin Hamad Al Khalifa said yesterday. ...

Arkan to Supply Major Building Materials to Aldar

Over 40 Industrial Units to be Set Up in New Al Ain Industrial Park
Khaleej Times - Dubai, United Arab Emirates
The Aldar MoU announcement stated that Arkan would become a major supplier of building materials to Aldar and it is expected to lead to a number of joint ...

Telenity Regional Office in Dubai

Telenity Opens Regional Office in Dubai
MarketWatch - USA

MONROE, Conn., Dec 14, 2008 (BUSINESS WIRE) -- Telenity, a leading provider of next generation converged services platforms and applications for communications networks, announced today that, it will open a regional office in Dubai, United Arab Emirates by January 2009 to serve its existing and future customers and partners in the Middle East and Africa (MEA) region. ...

UAE Real Estate Dubai Market at "Tripping Point'

Dubai property prices up 4%, but market at 'tipping point', says HSBC
Business Intelligence Middle East (press release) - United Arab Emirates
UAE. Dubai property prices rebounded in November but may be approaching a "tipping point" as the number of homes advertised for sale surged, according to the latest research by HSBC Holdings. ...

 

Carbon Footprint Projects get the Green Light

Eco home projects get the green light
Times Online - UK
One of the solutions to Dubai's problematic carbon footprint may be glaringly obvious. The sun shines here all year round, so why not make use of it to help the environment?

The Dubai company Solar Technologies FZE announced plans in October to build the first solar panel plant in the Middle East. Measuring 61.4 sq ft, the panels will be the largest in the world, their makers claim. ...

Salam-Yetti Project will not be Hit with Financial Crisis

Global financial crisis will not hit Salam-Yetti Project: Sama CEO
Zawya - United Arab Emirates
MUSCAT -- Farhan Faraidooni, CEO of Sama Dubai Company, the arm for international development and real estate investment of Dubai Holding, has denied rumours about suspension of works of Salam-Yetti Project, executed by the company in the Sultanate, saying that "work on the project is on and will not be affected by the international financial crisis and will continue as scheduled". ...

Keppel Land Time is Right to Invest 3 Billion in Saudi Arabia

Keppel Land gears up for SR3bn Jeddah project
Trading Markets (press release) - Los Angeles, CA, USA
Keppel Land, one of Asia's leading property developers, feels the time is right to invest and develop a premium site in Saudi Arabia. 

This is despite the fact that economic uncertainties and stock market volatility continue to weigh down sentiments in the property market. ...

Hydra Village to be Unveiled 15-18th Dec 2008 at Expo Center Sharjah

Hydra Properties gets set to unveil Hydra Village Sharjah at Acres Middle East
Zawya - United Arab Emirates
DUBAI (United Arab Emirates): Hydra Properties, the leading UAE-based international property developer, has announced plans to unveil Hydra Village Sharjah, the developer's latest foray into the UAE real estate market, at the Acres Middle East Exhibition which will take place on December 15 -18, 2008 at the Expo Centre Sharjah. ...

DAMAC Denies Misreporting Statment of Reuters and Blooberg

Statement from DAMAC on misreporting by Reuters and Bloomberg today stating DAMAC has sold a 40% stake in the company
Zawya - United Arab Emirates
We have been highly disappointed by Reuters and Bloomberg, for news wires of such an international stature to publish a story without speaking to us and believing a report in a newspaper from a non-existing DAMAC employee/subsidiary in Turkey. ...

Arabtec UAE May Cut 5,000 Jobs

UAE: Arabtec Might Cut 5,000 Jobs In Coming Weeks
Zawya

A wave of project cancellations and delays are leaving staff at construction firm Arabtec uncertain over whether they will be made redundant.

A senior source at the company said that there was speculation that some 5,000 workers could be laid off in coming weeks.…

Dubai's Ruler Bought Stake in Private Developer Damac Properties - Reuters

Dubai ruler buys stake in Turkey's Damac- paper
Reuters - USA
ANKARA, Dec 12 (Reuters) - Dubai's ruler Sheikh Mohammed bin Rashid al-Maktoum has bought a 40 percent stake in private developer Damac Properties that plans to invest $6 billion in a Turkish coastal project, Vatan daily said on Friday. ...

US Wants to Sign Nuclear Deal with UAE Soon

US Plans to Sign Nuclear Pact With UAE
Wall Street Journal - USA
The Bush administration plans to sign its first nuclear-cooperation agreement with a Middle Eastern nation within the next few weeks, according to a senior U.S. official, raising concerns among congressional critics who say the deal could fuel nuclear proliferation in the region. ...US President George W. Bush's administration plans to sign a nuclear cooperation deal with the United Arab Emirates, the first such ...

 

Report Q4 2008 - United Arab Emirates Information Technology

United Arab Emirates Information Technology Report Q4 2008 - companiesandmarkets.com adds new report
Live-PR.com (Pressemitteilung) - Wein, Austria
Market Overview The UAE's IT market is projected by BMI to reach a value of more than US$4bn by 2012, on the back of investment fuelled by new oil revenues. Despite an anticipated slight easing in economic growth after 2009, total spending on IT products and services should grow at a CAGR of around 11% over the 2008- 2012 forecast period. ...

Top Three Property Investment Destinations

Egypt's real estate market catches global attention
GulfNews - Dubai, United Arab Emirates
Sam Zell, the property moghul who made billions in 2007 when he sold his Equity Office Properties (EOP) portfolio to Blackstone for $38 billion, recently shortlisted the top three property investment destinations - Brazil, China and (surprise!) Egypt. ...

News from PALME Global

Companies chase $37bn GCC hotel fit-out deals
As the Gulf construction boom reaches its peak, the world's major suppliers of furniture, fixtures and fittings to hotels.....
The biggest LED media facade in history
Tameer Holding will construct the world's largest LED screen at 100 metres high.....
10 key projects to be launched in western China
China's National Development and Reform Commission said on its website that the country is to launch ten key projects in the western regions this year.....
Sichuan Attracts 48 Tourism Investment Projects
At the 9th Western China International Economy & Trade Fair in Chengdu, Sichuan signed-up 48 tourism projects with a total investment of more than CNY55 billion.....
Malaysian major Haneda Enters India, JV with Rajathi Group
Malaysia based M/s. Haneda Trading & Construction Sdn Bhd and the Chennai Rajathi Group recently announced the launch of their joint venture 'Haneda Rajathi'.....
Optimistic Outlook for ASEAN economies
South East Asian economies are still registering overall healthy industrial and sectorial growth despite the recent global financial slowdown albeit at a lower level.....
World Theme Parks Market to Reach $28.7 Billion by 2012
As the market recovers poise in the upcoming years, growing popularity of mass entertainment, and the tendency of families to spend a large portion of their discretionary free time on outdoor fun will continue to drive growth.....

Lebanon Shrugs Off Credit Crunch: Moody's

Moody's changes outlook for Lebanon's sovereign ratings to positive from stable
Zawya

Moody's Investors Service has today changed the outlook on Lebanon's sovereign ratings to positive from stable. These ratings are the country's B3 local and foreign currency government bond ratings, the B3 country ceiling for foreign currency bank deposits, and the B2 country ceiling for foreign currency bonds. ...

Two New Bloomingdale Stores in Dubai.

Bloomingdale's Heads To Dubai as It Expands Globally
CNBC - Englewood Cliffs, USA
The nation's largest department store is making its first entrance into the international market by opening two upscale Bloomingdale's stores in Dubai. The question is whether the retailer can sell luxury in a time of frugality.

Al-Ain UAE Location for First Grand Prix

Exclusive Live Broadcast of Aero GP 2009
MarketWatch - USA
Al Ain, U.A.E. is the location for the first grand prix of the 2009 Aero GP air racing series. The Aero GP will be the main event of the prestigious Al Ain Aerobatic Show which will be broadcast LIVE from 30 - 31 January 2009 on the new online TV channel, Airsports.tv.

Agricultural Fund Needs $1 Billion

AAAID Calls On Arab Funds To Allocate $1B To Ag Fund

Zawya

The Arab Authority for Agricultural Investment and Development, or AAAID, is urging Arab funds to set up a $1 billion financing program to fund Arab agriculture. ...

One Kilometre-plus Tower may Go On

Construction giants vie for Nakheel Tower deal
By Tom Arnold ITP
Al-Habtoor Leighton, Murray & Roberts and Al Naboodah Laing O'Rourke are among the contractors which have bid for the pre-construction phase of work on the 1 kilometre-plus tower planned by Nakheel.

Refineries' Upgrade due to Surge in UAE Oil Products Demand

UAE to upgrade two refineries by 2011
GulfNews - Dubai,United Arab Emirates
Abu Dhabi: The UAE will upgrade two of its refineries by 2011 to meet the surge in domestic demand for oil products, the International Energy Agency (IEA) has said. ...

Taqa JV with RBS Sempra

UAE's Taqa, RBS Sempra JV to invest in N. America
Reuters - USA
DUBAI, Dec 10 (Reuters) - Abu Dhabi National Energy Company TAQA.AD has teamed up with RBS Sempra Commodities to invest in downtream assets in North America's energy sector, Taqa said in a statement on Wednesday. ...

Job Juts Poll Results

40% feel Gulf immune from job cuts: poll Gulf Times - Doha, Qatar Job cuts have also been announced by other developers, including Damac, Tameer and Omniyat, as the global financial crisis takes hold on the region. ...

Dubai Properties Cuts 600 Jobs

Hundreds of jobs axed at developer

Zawya

Dubai Properties has become the latest firm in the emirate's battered real estate sector to make job cuts in the wake of the economic slowdown, 7DAYS has learnt.
In what appears to be the biggest single set of cuts to hit the industry so far, as many as 600 positions have been culled at the developer, a former worker claimed. ...

Ellerbe Becket Hires Industry Veteran to Oversee Firm’s Operation

Doubling down on Dubai
Finance and Commerce - Minneapolis, MN, USA
Ellerbe Becket hopes to bolster its international business with the hiring of an industry veteran who will oversee the firm's operations in the Middle East and beyond. ...

Gulf Stream Asset Management to Raise Funds Distressed Prices

Gulf Stream, Backed By Dubai, Starts Distressed Funds (Update1)
Bloomberg - USA
9 (Bloomberg) -- Gulf Stream Asset Management LLC, an investment firm backed by Dubai's government, plans to raise two funds to buy debt at distressed prices amid forced asset sales by banks and investors. ...

Nakheel Unveiled Plans for "The Universe"

Nakheel plans new offshore "blue" development
KHL Group - Wadhurst, East Sussex, UK
Dubai, United Arab Emirates-based developer Nakheel has unveiled plans for a new off-shore development called The Universe.

The project will be located close to its Palm Jumeirah development and inshore from its 500 island World project. ...

Job Cuts Increased by 15,000 Layouts

Another 15,000 job Cuts
CNNMoney - USA
The job toll continued Tuesday, as Sony Corp. and five other companies announced cuts totaling nearly 15,000 positions.
Sony, Danaher Corp., Wyndham Worldwide, the National Football League and Principal Financial Group announced job cuts totaling about 14,400 positions. ...

Economic Zones World to set up Free Trade Warehousing Zone at Raigad in Maharashtra

Dubai firm to set up warehousing SEZ in Maharashtra
The Hindu

NEW DELHI: Dubai-based Jabel Ali Free Zone, the flagship brand of world's biggest developers and operators of economic zones and business parks -- Economic Zones World, will set up a free trade warehousing zone (FTWZ) at Raigad, in Maharashtra. ...

Dubai's Real Estate Suffering Drop in Prices that Forced Staff Cut and Project Delays

Dubai's once-booming real estate sector is suffering a drop in pricing that is leading banks to rein in lending...
Press Release Point (press release) - Madruai, Tamilnadu, India
Dubai's once-booming real estate sector is suffering a drop in pricing that is leading banks to rein in lending and forcing developers to cut staff and delay their projects. ...

Dubai Property Rises Destress Sales

Lending drought dries up Dubai property
Business Report - Johannesburg, South Africa
The classified ads in Dubai read like an obituary for a property market that, until a few months ago, seemed immune to the global credit crisis. ...

Dubai-based Meraas Development Reconsidering Plans

Dubai reconsidering plans
The Move Channel - London, UK
Dubai-based Meraas Development, which has unveiled a £63.8 billion property project since being formed just two months ago, says it is now reconsidering its plans in light of the economic slump...

Good Time to Invest Dirhams in UK Property Market

All eyes West as many eye property in the UK
GulfNews - Dubai, United Arab Emirates
Dubai: In the typically hit-and-miss world of real estate, it seems now is a good time for investors to put their dirhams also into the UK property market, in addition to the UAE, as exchange rates continue to be low. ...

Qatar Properties Escapes Worst Turmoil

Exuberance punctured
Financial Times - London, England, UK
While the drama of a real estate shake-out unfolded in Dubai this autumn, property investors in Doha were quietly hopeful they would escape the worst of the turmoil thanks to Qatar's firm oil and gas fundamentals. ...

EFG Hermes: Aldar, Sorouh and UP can Ride Out Malaise

Aldar, Sorouh and UP Rated as 'buy'
Khaleej Times

DUBAI - Abu Dhabi-based Aldar Properties and Sorouh Real Estate and Dubai's Union Properties can ride out the property malaise, said EFG Hermes.

EFG Hermes maintained its "buy" rating for Sorouh Real Estate and raised its target price to Dh14.3, a hefty upside over its closing price of Dh3.43 last Monday. ...

Emaar Properties and Dynasty Zarooni launching New Range of Schemes

Scheming developers in Middle East
The Move Channel - London, UK
As Dubai continues to dominate the property headlines for all the wrong reasons, developers in the Middle East have started a real push to entice new buyers by offering a host of new schemes...

Rise of Persian Gulf Architecture

Middle East special: The rise and rise of Persian Gulf architecture
Telegraph.co.uk - United Kingdom
In Arabia, a brave new world is rising up to sweeten life after oil. From Dubai Towers, The Pearl and Gehry's Guggenheim to the gleaming Sheikh Zayed mosque, vision, energy, money and dizzying tourist numbers are the foundation stone. ...

Dubai's Export to Cushion Impact

Dubai exports to GCC countries still strong
GulfNews - Dubai, United Arab Emirates
Dubai: Dubai's exports to major markets, affected by the credit crunch, could fall in 2009, but trade with other countries such as India could cushion the impact, UAE-based exporters said. ...

UAE will Dodge a Severe Blow from Global Economic Crisis

UAE's wealth cushions impact of crisis
Saudi Gazette - Riyadh, Saudi Arabia
DUBAI - UAE will be able to dodge a severe blow from the global economic crisis as the country is viewed to still maintain fiscal surplus in 2008 and 2009 ...

Massive Lay-offs Begun 50000 - 100000 Losing Their Jobs

The storm is coming: a growth strategy for the country in perilous year
ABS CBN News, Philippines
What started out in the United States as an innocuous sounding name – subprime lending – has spread like a computer virus infecting the banks of the rich countries and then the banking system of the emerging markets. ... Of this number, 50000 to 100000 are losing their jobs NOW. ...

UAE Job Cuts Forces Lower Salary Expectations

Newly unemployed 'must lower salary expectations'
GulfNews, United Arab Emirates
Dubai: As the economic crisis hits the real estate market in Dubai, job cuts have occurred and the newly unemployed must readjust their expectations in the market, according to a real estate human resource company official. ...

Opportunity to Invest in Real Estate

Al Barakah offers stakes in the company to angry investors
Zawya, United Arab Emirates
Dubai: Real estate developer Al Barakah Group is offering equity stakes in the company to angry investors who were promised attractive returns on the properties they bought from the developer in Ajman and Dubai. ...

Dubai Airport Expansion Phase III $2.5 Billion Launched

Last Phase Of Dubai Airport Expansion Launched

Zawya

Dubai: A UAE-South African-Japanese consortium led by Al Habtoor Engineering has been awarded a Dh4.9 billion contract to build Concourse 3, the final package of the Dh15 billion ($4.1 billion) expansion of the Dubai International Airport. ...

Global Economy is Imploding and Dubai is Feeling it

NEWSWEEK INTERNATIONAL EDITIONS: Highlights and Exclusives
MarketWatch - USA
Is the Party Over? (All overseas editions). Middle East Regional Editor Christopher Dickey reports that the economic meltdown has come to Dubai, the city-state in the United Arab Emirates that, more than any other place on earth, is the creation of worldwide commerce. But now, the global economy is imploding and Dubai is feeling it. ...

Azizi Investments' Projects at Palm Jebel Ali Continuing as Planned

Azizi Investments Maintains its Business as Usual
Khaleej Times - Dubai, United Arab Emirates
DUBAI - In a latest development, Azizi Investments, one of the Gulf's fastest growing real estate developers, today announced in a terse statement that it was 'business as usual' on its projects at Palm Jebel Ali following Nakheel's statement on Monday...

Positive Signs Over UAE Property Slump

UAE Property Slump may be Short-lived
Khaleej Times - Dubai, United Arab Emirates
DUBAI - The property slump in the 
UAE is a painful reality check with all the signs pointing to a more severe global recession in 2009, but the sting is likely to be short-lived, said EFG Hermes.

Bussinesses in UAE Remain Optimistic

UAE businesses optimistic despite global crisis
Zawya - United Arab Emirates
Dubai: Despite the air of gloom, businesses in the UAE remain optimistic that the country is in a strong position to weather the global financial crisis.

From real estate to retail and exports, traders admitted a slowdown is imminent, but they are banking on the UAE's strong econ-omic fundamentals, robust reserves and crisis-responsive leadership to put the economy back on track.

Plans to Turn Moscow into a Dubai of the East Shattered by Low Oil Prices

Moscow's architectural revolution hit by the global financial crisis
Sunday Herald - Glasgow, Scotland, UK
MOSCOW'S TRANSFORMATION into a showy Dubai of the east has been put on ice as plans for some of the world's brashest examples of modern architecture have stuttered because of the world's financial crisis. ...

Alarming: Dubai Crude Oil Falls to 30-US Dollar-level for the First Time

Dubai Oil Price Falls to a 46-month Low
KBS - Seoul, South Korea
The price of Dubai crude oil has fallen to the 30-US dollar-level for the first time in nearly four years. In Singapore, the spot price of Dubai oil traded on Friday closed at 38-dollars, 91-cents per barrel, down more than two dollars from the previous day. ...

Report on Dubai Real Estate and Effect of Low Oil Prices

Oil Price Casualty: The Downturn Hits Dubai
Free Internet Press - New York, NY, USA
With plummeting oil prices causing the Persian Gulf economy to shrivel, Dubai's push to become a global financial hub is in jeopardy.

 

For a year or so, the movers and shakers of the small but oil-rich United Arab Emirates have watched the unfolding of the credit crisis in the West with a mixture of dismay and denial. It won't happen here, was their view. And for a long time it didn't. Now it is. The price of oil, the lifeblood of the Persian Gulf economy, has fallen more than 60 percent since its mid-July peak.

Oliver J. Key General Manager of The Address - Dubai Marina

Emaar Hospitality Group appoints Oliver J. Key as General Manager of The Address, Dubai Marina
Zawya - United Arab Emirates
Dubai, UAE; December 6, 2008: The Address Hotels + Resorts, Emaar Hospitality GroupEmaar Hospitality Group's recently launched five star hotel brand, has appointed Mr Oliver J. Key as General Manager of The Address, Dubai Marina, the upcoming 5 star premium hotel under The Address Hotels + Resorts brand in Dubai Marina. ..

China and Dubai to Invest in Philippines

Big China, Dubai firms eye investments in RP mining sector
ABS CBN News - Philippines
Two construction giants in China and Dubai are investing in the Philippines, which may prop up the country's mining investments beyond the government's 2010 target of $10 billion to $13 billion. ....

Leighton and Partners Awarded $1.3 Billion Contract

Leighton and Partners Win $1.3 Billion Dubai Airport Contract
Bloomberg - USA
ByLeighton Holdings Ltd., Australia's largest construction company, said it won a 4.9 billion dirham ($1.3 billion) contract with its partners to build a new concourse at Dubai Airport. ...

Dubai an Astonishing Ascent from Tiny Fishing and Pearling Village to Global Hub

Dubai, the Glittering Emirate, Revisited
New York Times - United States
DUBAI is one of those magical places that seem too good to be true. Along with the far larger and richer Abu Dhabi, it is one of seven city-states in the loose United Arab Emirates federation, which gained independence in 1971 from the overextended British empire. ...

Dubai is too Important for its Leaders to let it Fall

Too Big to Fail
Newsweek - USA

The recent gala opening of the Atlantis hotel on Dubai's Palm island gave one a strong sense the emirate's elite were fiddling while Rome burned. The sheets had hardly been stripped from the beds of the departing guests when the hotel's developer, the government-owned Nakheel Properties, announced that it was cutting 15 percent of its workforce. ...

World's Best Real Estate Investment Locations

World's Best Places To Invest In Real Estate

Forbes - NY, USA

With each passing day of bad market news, it's easy to see why there's so much skepticism about real estate investing. Despite banks' shareholders and equity investors tending to want less real estate in their portfolios, however, there are myriad growth opportunities in properties ranging from from apartments in Sydney to office buildings in Shanghai. And some investors are shopping aggressively. ...

See all in Depth: World's Best Places To Invest In Real Estate

Qatar's Tadmur Real Estate to Operate Serviced Apartments of BridgeStreet

10-year franchise pact for serviced apartments signed
Gulf Times, Qatar
TADMUR Real Estate company has signed a 10-year franchise agreement with BridgeStreet Worldwide, a leading international provider of serviced apartments, a spokesperson said.

Under the agreement, the first by BridgeStreet in Doha, Tadmur will operate four buildings with a total of 514 serviced apartments under the BridgeStreet brand.

Low Cost Housing Projects and Hotels Planned all Over Pakistan

ME developers plan low-cost housing projects in Pakistan
The News International, Pakistan
KARACHI: Three real estate developers from the Middle East are expected to invest over Rs5 billion in low cost housing projects in next two years and joint ventures in this regard are already being signed with local counterparts. ...

Meadowhall Shopping Centre in Sheffield to be Sold

Mid East group 'to buy half' of Meadowhall
Yorkshire Post, UK

AN Abu Dhabi backed property company is reportedly the front- runner to buy a large stake in the Meadowhall shopping centre in Sheffield.
Meadowhall's parent company British Land has restarted talks to sell around a half of the £1.4bn flagship shopping centre to London & Stamford, a listed property opportunity fund backed by an unnamed Abu Dhabi sovereign wealth fund, according to a report in the Financial Times.

Gulf Educational Supplies and Solutions 2009 at Dubai's Airport Expo Centre 10-12 March 2009

AB Software Consulting to open branch in Dubai Internet City in 2010
AME Info
AB Software Consulting Ltd will participate for the first time at Gulf Educational Supplies and Solutions (GESS) 2009 at Dubai's Airport Expo Centre from 10-12 March 2009 to demonstrate the newest version AB Tutor Control 6, a networked classroom, instruction, monitoring and teaching tool. ...

Survival Statergies For GCC Realty Companies

GCC realty companies adopt 'positive survival' statergies through recapitalisation, retrenchment and restructuring
AME Info - United Arab Emirates
In the wake of the credit crunch and the global economic slowdown, real estate companies especially in the Middle East are increasingly adopting strategies of positive survival with the projection that by end 2009 through to 2010 the recession would have bottomed out and GDP growth would start getting back on track. ...

Tatweer Reviewing Jobs in Light of Global Financial Crisis

Tatweer confirms jobs review amid global slowdown - Real Estate
Arabianbusiness.com

Tatweer, the state-owned company building the massive theme park development Dubailand, said on Thursday it is reviewing jobs in light of the global financial crisis. ...

Kuwait's Real Estate Decline in Sales Due to International Financial Crisis

Kuwait: On Hold
Zawya - United Arab Emirates
Despite strong economic fundamentals, Kuwait's real estate sector is experiencing an unaccustomed lean spell, with a decline in sales in most segments and developers reconsidering new projects as the international financial crisis takes hold. ...

Report: Massive List of Job Cuts and Layoffs at America's Top 500 Largest Public Companies

Layoffs for December 2008 at America's 500 largest public companies:
Forbes
December layoffs have already exceeded 30,000. See the full list of the Number of layoffs since Nov. 1, 2008, at America's 500 largest public companies: More than 90,000 people lost their jobs at America's largest public companies in November 2008.

Abu Dhabi's TAQA and Gazprom Signed MoU for Europe's Largest Gas Storage Project

TAQA, Gazprom Pact On Dutch Bergermeer Gas Storage
Zawya

The Abu Dhabi National Energy Company PJSC (TAQA) and Gazprom export (Gazprom export) announces signing a Memorandum of Understanding to partner in Europe's largest new gas storage project in the Netherlands: the Bergermeer Gas Storage. ...

Payment Options to Entice Dubai's End-users into Buying

Anxious developers offer hot deals
GulfNews - Dubai, United Arab Emirates
As home loans become more difficult to obtain, developers and brokers have begun offering a variety of payment options to entice end-users into the market so that buying, selling and renting can continue.

Real estate companies, including Emaar Properties, Dynasty Zarooni and Gowealthy.com, have launched varied schemes to jump-start sales. ...

Depressed UAE Property Markets a Good Idea for Investments

UAE- Financial Crisis an Opportune Moment to Buy Property
Middle East North Africa Financial Network - Amman, Jordan
Taking advantage of the depressed UAE property markets at this time of recession might prove to be a good idea, as it will be compounded by lower global interest rates, to counter the crisis, say industry experts. ...

Dubai Needs Office Space

Dubai Faces Shortage of Office Space
Khaleej Times - Dubai, United Arab Emirates
ABU DHABI — Dubai is facing severe shortage for office spaces as completion delays particularly in Business Bay, which was scheduled to deliver 1.9 million square metres of office space by the fourth quarter of 2010, versus an actual completion estimate of 435,000 square metres over the same period. ...

Catastrophic Plans to Cut 181,671 Jobs

Job cuts mount as year-end nears
CNN - USA
NEW YORK (CNNMoney.com) -- The nation's job market, in the final month of a brutal 2008, was dealt a savage blow Thursday when five major companies - AT&T Inc., DuPont Co., Viacom Inc., Credit Suisse Group and Avis Budget Group - announced job cuts that total 22,850. ...

Theme Park Operator Six Flags Inc. Expands to Doha - Qatar

Six Flags expands to Qatar with new partnership
CNNMoney.com - USA
NEW YORK (Associated Press) - Theme park operator Six Flags Inc. said Thursday it is expanding further into the Middle East after reaching a deal with Qatar-based diversified company Oryx Holdings to open a Six Flags theme park in the tiny Gulf nation by midyear 2012. ...