Master-Planner Rakeen and Developer at Ras Al Khaimah - Bab Al-Bahr

UAE- Rakeen completes 50% of piling for residential components of Bab Al-Bahr
Middle East North Africa Financial Network - Amman,Jordan
Rakeen, the master-planner and land developer of the Ras Al Khaimah government, that exercises environmental responsibility when planning and developing, has announced that it has recently completed the piling works for half of the residential component of the Bab Al Bahr and is set to proceed with the construction of the residential units.

Rakeen also reported that main contractor Al Hamra Construction Company will start the piling work and construction of the second half of the residential area shortly as the AED 1.2 billion mixed-use resort development remains firmly ahead of schedule.

Mirvac Group Partners with Nakheel & Al-Badie Group

Mirvac loses interest in small funds
The Australian - Sydney,Australia
THE $3.1 billion Mirvac Group will sell or wind up smaller funds... Many of those opportunities will be in the Middle East, where Mirvac has formed partnerships with Nakheel, which owns 14.8 per cent of the group after becoming the sub-underwriter for its dividend reinvestment plan, and Abu Dhabi conglomerate Al Badie Group. ...Nakheel has indicated it would keep its holding at less than 20 per cent," he said. ...

New Major Construction Projects in Dubai: 40 to 50 Storey Office and Residential Towers, Hotels...

Major new project planned for Dubai World Trade Center
SteelGuru - Gurgaon,Haryana,India
It is reported that a major new mixed use development is currently being planned for the World Trade Centre area of Dubai. The project, currently known as District 49 ...The concept architect is UK based Atkins. The project manager is UK based EC Harris. The client is Wasl, formerly known as Dubai Real Estate Corporation.

Sungwon Corporaton Wins US$78 Million Contract from Silver Star Tower Ltd

Yahoo - Bangkok, Thailand
SEOUL, Aug 19 Asia Pulse -- The South Korean mid-sized builder Sungwon Corp, said on Tuesday it has signed an 82 billion won (US$78.4 million) contract to build an office building in Dubai, United Arab Emirates.

Under the deal signed with German company Silver Star Tower Ltd., the building will be located in Business Bay, which is being developed into a major business area in Dubai, and the building will be completed by 2010, the company said.

On August 13, the South Korean Builder Sungwon Corporation broke the ground for the building.

End News.

South Korean Sungwon Corporation invested heavily in Dubai Properties' projects, and was keenly seeking opportunities in the booming Dubai real estate market. One of the companies projects were the Villa and Mudon at Cultural Village.