Union Properties Seeks $1 bln for New Projects

Dubai's Union Properties seeks $1 bln for projects
Reuters India - Mumbai,India
By Jason Benham DUBAI, Aug 12 (Reuters) - Dubai-listed Union Properties UPRO.DU plans to borrow $1 billion by the end of the year to help finance projects, and is looking to increase its foreign ownership limit in the company to 30 percent. Dubai's second-largest developer by market value is in talks with local and international banks... Ghoul told the Reuters Global Real Estate Summit in June the company would borrow at least 2.5 billion dirhams ($680.6 million) this year and an additional 1.5 billion dirhams ...

Dubai Boosts GCC Financial Industry

Dubai boosts GCC's emergence as a prominent region in the global financial industry
AME Info Tue, 12 Aug 2008 2:14 AM PDT
With its rapid growth as a financial centre, Dubai is boosting the emergence of the Gulf Cooperation Council (GCC) region as a prominent centre of activity in the global financial industry, according to a study undertaken by UK-based global research organisation Chatham House. ... Dubai was also cited by the survey as being the number one among financial centres to 'become significantly more important over the next two to three years.' ...

UAE to Build 68 New Dams

UAE to build new water recharge din
XPRESS - Dubai,Dubai,United Arab Emirates
The Ministry of Water and Environment plans to build new recharge dams the UAE in the next five years. "We have a five year plan to build 68 new recharge dams, mostly in the Northern Emirates," said Dr. Mohammed Mustafa Al Mulla, Assistant Deputy Minister, Water & Soil Affairs, UAE Ministry of Water and Environment. ...Al Mulla plans to announce the details of the project in his presentation on recharge dams, which he will be giving at the upcoming Water Tech 2008 ...

Azizi Property Developer Eyes 170bn

Azizi eyes Dh170b portfolio by 2010
GulfNews - Dubai, United Arab Emirates
Azizi Investments, a leading property developer has more than 50 projects in hand and has set a target to achieve project value of Dh170 billion (46.2 billion) by end of 2010, the company said in a report. ...Another 677,000 square foot plot developed by Nakheel in Mina Rashid was acquired by Azizi where it is planning a Dh1.8 billion, 45-storey mixed-use tower. ...Azizi also said that by the end of October, they hope to have acquired 15 million square feet of land to be used for 55 developments in Dubai alone. ...

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Dream Harbour Development Project at Waterfront Dhs1.7bn to be Launched

Desert Dream to launch residential development, Dream Harbour, at Waterfront
AME Info (press release) - United Arab Emirates
Desert Dream Real Estate & Investments, one of the fastest growing developers in the region, will next week, 14 August 2008, launch Dream Harbour, a new Dhs1.7bn residential development at Waterfront, a community by master developer Nakheel. ...Dream Harbour will be in the heart of one of Dubai's most ambitious project, Waterfront, and we are delighted to be a partner of Nakheel, who has inspired ...

Hyder Consulting Awarded Palm Diera Bridges

Hyder Consulting to design Palm Deira bridges
AME Info (press release) - United Arab Emirates
Hyder Consulting Middle East, the award-winning international advisory and design consultancy, has been selected by master developer Nakheel to design the architectural concept of all the 44 long-span bridges on Palm Deira. ...Hyder Consulting's mandate is to design the bridges as impressive and aesthetically pleasing gateways reflecting the iconic status of Palm Deira, the largest of the Palm Islands under development in Dubai. ...

Saudi Arabia is the Largest Real Estate Market

The signs all point to a continuing surge in the Islamic real estate market
Zawya - United Arab Emirates
The rapid emergence of a wider range of real estate financial instruments compatible with the principles of Islamic finance is significantly contributing to the growth of the sector. ... Ayman Adel Kamal, the Chief Investments and Real Estate at Dubai Islamic Bank, said: "Saudi Arabia is the largest among the real estate markets in the region and offers immense potential for real estate development ...

 

Infrastructure Work on Jeddah Gate, $1.6 billion flagship real estate development in Saudi Arabia
Gowealthy.com - Dubai,United Arab Emirates
Emaar Middle East, real estate development associate of Dubai-based Emaar Properties focused on projects in the Middle East region, has announced that the infrastructure work of Jeddah Gate, $1.6 billion flagship development in Saudi Arabia, is progressing on schedule ...

 

Shortage of Electricity to Bankrupt GCC Real Estate

Electricity shortage to hit GCC real estate
Zawya - United Arab Emirates
A shortage of electricity in the Northern Emirates and other GCC states will bankrupt many real estate developers if they fail to introduce private generation, says a top energy analyst. ...Al Salam City, a Dh30 billion project by Dubai-based Tameer was placed on hold in May. The city, which was set to house up to half a million people, was due to be built in Umm Al Quwain ...

Al-Mashraf Bank To Sell Casa del Mar

Al Mashraf renders old contracts void
GulfNews - Dubai, United Arab Emirates
Investors in the Casa del Mar development in Dubai Marina have been told by the new owner, Al Mashraf Bank, that once completed, the project will be sold to new investors... The original owner of the development, Obaid Bin Jarsh, marketed Casa del Mar through Deyaar. He then sold it to Al Mashraf "due to liquidity problems" ...

Orbit Solutions Appointed by PURE Real Estate

PURE Real Estate appoints Orbit Solutions for project renderings and animations
Business Intelligence Middle East (press release) - United Arab Emirates
UAE. PURE Real Estate announced the appointment of Orbit Solutions, an award-winning and leading Australian-based architectural practice, for the company's visualisation and 3D animation needs. ... "Orbit is excited to be working with PURE Real Estate and being able to showcase the full range of our new media and 3D visualisation services in a region that is enjoying such tremendous growth," ...

ECO-Friendly Hotel in Abu Dhabi - Pamela Anderson

Pamela Anderson Hotel in Abu Dhabi
Kippreport.
The former Baywatch beauty Pamela Anderson recently announced plans to build an eco-friendly hotel in Abu Dhabi... "I'm building a hotel there. It is environmentally friendly. [...] The royal family was really friendly," Anderson was quoted as saying. ...

Baywatch beauty to build Abu Dhabi hotel
Former Baywatch beauty Pamela Anderson is set to become the latest Hollywood star to get involved in the UAE's hospitality sector with plans to build an eco-friendly hotel in Abu Dhabi....

Sale-by-Auction - Dubai Property Market

Dubai's maturing real estate prepares to roll out sale-by-auction
Kipp Report - Dubai,United Arab Emirates
... After all, if a car number plate can fetch five million dirhams ($1.36 million) then one can imagine what some would be willing to pay for a perfect plot to house a mixed-use development. ...Most of what stands at the Business Bay today is the result of plots auctioned off by Mazad in the winter of 2005, which it collected $272.3m from. ...Bushalat also stresses market performance. "The success of the auction highlights the confidence that international investors have in the sustainability of the Dubai property market."...

Sharjah Power Plant Contract Awarded

UAE- Sewa awards contract for energy recover technology for power plant
Middle East North Africa Financial Network - Amman,Jordan
Sharjah Electricity and Water Authority (Sewa) has awarded Energy Recovery, Inc. (ERI),a contract to provide the energy recovery technology for the Hamriyah Phase 1 Power Station... The Middle East has been a mainstay for ERI with many small to large plant installations across the region, ranging from small hotels in Egypt and UAE to... The plant was awarded to Austrian company Aqua Engineering GmbH, a subsidiary of Christ Water Technology AG, by the Sharjah Electricity and Water Authority (Sewa). ...

Luxury CEO Office Chair Costs $1.5 Million

$1.5m office chair now in UAE
Trade Arabia - Manama,Bahrain
An office chair – designed at a cost of $1.5 million by the designers of Ferrari, Lamborghini and Maserati... The Aresline Xten ergonomic office chair, designed by Italian company Pininfarina, is state-of-the-art luxury for the fashion conscious. ..."The time and effort that has gone into designing this chair is similar to that of designing a new car. It is a 'must have' product for the UAE's leading CEOs." ...It is the only office chair in the world with Dynamic Synchronized Tilting... It is the most comfortable office chair I have sat in and incorporates some of the most advanced technology on the market today," ...