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Real Estate News Alert.

Real Estate News Alert is a roundup of the most recent news that gets updated daily to keep you always up to date on the world's most attractive projects in the real estate market from the UAE (Dubai, Abu Dhabi, Umm Al-Quwain, Ajman, Ras Al-Khaimah, Sharjah and Fujairah) and sometimes from the GCC or other countries and from various news sources.


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Saturday, September 6, 2008

Alec Awarded 99 Storey Tower in Dubai for Al-Rihab

The local Alec has been selected for the AED1.8bn ($490m) contract to build a 99-storey tower at Dubai International Financial Centre, the highest yet of a series of newtowers planned for the area. ...The final height has not been decided, but it is expected to be between 380 and 405 metres tall when completed, making it the tallest building at DIFC and one of the tallest in Dubai.

ETA Star Properties Partnership with Oman's OHI Group

Dubai-based developer ETA Star Properties enters Oman in partnership with OHI Group
Zawya Dubai, United Arab Emirates
Dubai-based developer ETA Star Properties enters Oman in partnership with Oman based OHI Group, as it signed an agreement today to launch a premium luxury township in the heart of Oman. This will be a multi purpose project with residential apartments, offices and retail spaces, blending luxurious living with high levels of convenience. The proposed launch of the project is end October. ...

Kuwait's National Real Estate Company (NREC) to Expand

NREC eyes Syrian property market, mulls sukuk
Trade Arabia - Manama,Bahrain
Kuwait's National Real Estate Company (NREC), a major investor in logistics firm Agility, wants to expand into markets from Syria to South Africa and is considering selling Islamic bonds later this year, its CEO said. ...The Kuwait-based real estate developer, which manages KD750 million ($2.8 billion) worth of properties and assets, is currently investing in real-estate projects in the UAE, Egypt, Libya, Jordan, Lebanon, Iraq and Pakistan. ...

Damac is Developing New Commercial and Residential Projects at Puteri Harbour

Damac has eyes on Asia
Media - Hong Kong,Hong Kong
Damac, one of the Middle East's largest private property developers, has handed its Singapore and Malaysia media business to Universal McCann Malaysia as it seeks to tap into the region's development. ...Damac is in the process of developing new commercial and residential projects worth RM3.8 billion (US$1.1 billion) at Malaysia's Puteri Harbour in Nusajaya, which is one of the largest integrated urban developments in Southeast Asia.

Dubai Properties Aims at AED 970 Billion in Five Years

Dubai Properties to double portfolio
GulfNews - Dubai, United Arab Emirates
Dubai Properties, a leading real estate master developer, aims to more than double its current investments in the real estate sector to Dh970 billion with five years. Speaking at a function in Paris to promote the company's latest mixed-use development Babil in Dubai among foreign investors ... The company late on Thursday held an exclusive promotion at the Ritz Paris for 50 residential units in Babil, a medium-rise, mixed-use development coming up along the Dubai Creek in the heart of the emirate's historic and cultural centre. ...

Donnie Mills Executive Vice President and Managing Director of Joint Busch Entertainment/Nakheel Project.

Busch Gardens Tampa General Manager Tapped For Top Spot at Worlds of Discovery Dubai
MarketWatch - USA
Donnie Mills to Transition Into Role of Executive Vice President and Managing Director of Joint Busch Entertainment/Nakheel Project.
 
In his new role as Executive Vice President and Managing Director, Mills will be responsible for all aspects of the staging and operation of Worlds of Discovery Dubai -- SeaWorld, Busch Gardens, Discovery Cove and Aquatica -- parks developed in partnership with Nakheel PJSC, a Dubai World company and one of the world's largest and most innovative real estate developers. ...

Solidere Real Estate Profits in 2008

Solidere expects 2008 profits to mirror 2007 returns
Daily Star - Lebanon - Beirut, Lebanon
BEIRUT: Real-estate giant Solidere is still reaping handsome profits and revenues thanks partly to a backlog of lands-sales contracts that are being realized in 2008 and possibly over the next coming years. The company, founded by late former Prime Minister Rafik Hariri, also managed to sign few contracts this year and is negotiating other potential deals with investors. ...Solidere International, which is incorporated in the Dubai Financial Center, has several multi-billion-dollar projects in the United Arab Emirates (UAE), Saudi Arabia and Egypt. ...

Robert Lee, Nakheel's Managing Director of Investment Projects

'We take the leadership position'
GulfNews - Dubai, United Arab Emirates
Dubai: As managing director of investment projects Robert Lee has a key role to play in Nakheel's $100 billion-plus development portfolio. Lee joined the company in 2004 as director of development and assumed his current position in March 2007. He is responsible for Nakheel's strategic long-term assets, with a focus on large-scale mixed-use developments. ...

New Payment Management System by ALDAR & Textura

Zawya - Dubai, UAE
Aldar Properties the Abu Dhabi based developer, yesterday announced a joint venture with Textura Corporation, a US-based technology provider. Textura will provide technology within all Aldar developments that will introduce a new payment management system enabling cash flow management and cost effectiveness of construction projects.

Noor Dubai, by Shaikh Mohammed

Dubai's Gift to the World
Khaleej Times - Dubai, United Arab Emirates
Dubai stopped surprising the world with its pioneering projects and breathtaking initiatives long ago. The emirate comes up with something new and awe-inspiring almost on a daily basis. However, what goes largely unnoticed in the rest of the world is the tremendous work the emirate has been doing on social and humanitarian front. ...

Tatweer Targets Emerging Markets: India, China and Saudi Arabia

Zawya - Dubai, United Arab Emirates
Tatweer a member of Dubai Holding, will replicate its various branded properties in overseas markets including the Tiger Woods Dubai, Dubai Healthcare City, Dubai Industrial City and its various theme parks.

The developer is eyeing emerging markets including India, China and some European countries for this purpose. The company also believes Saudi Arabia to be a serious market to diversify its investment profile.

Morgans Hotel Group in Dubai

Hotel group plans to open a Delano in Dubai
Miami Herald Fri, 05 Sep 2008
The Delano wants to go to Dubai. Morgans Hotel Group announced Friday morning plans to open a Persian Gulf version of its iconic South Beach hotel, which helped redefine small hotels in the 1990s as stylish (and pricey) ``boutiques.'' ...This would be the second Delano, and Morgans plans to open it in 2012. ...

Tameer and Sorouh Real Estate JV on Tameer Tower Projects

UAE companies finalise deal to construct Taameer Towers
Zawya - United Arab Emirates
Real estate leaders Tameer and Sorouh have finalized an agreement with a joint venture of Al-Habtoor Engineering, Murray & Roberts and Al-Rajhi Projects to construct the Tameer Towers project in Abu Dhabi at a cost of 6 billion dirhams, bringing the total cost of the project to 8 billion dirhams. ...
Tameer Towers is in SHAMS Abu Dhabi, a major new development on Al-Reem Island, which is master-planned by Sorouh Real Estate PJSC. Home to 45,000 residents, SHAMS Abu Dhabi will be a completely new self-sustaining city based around canals and parks, which integrates world-class master planning practices and extends the lush green of Abu Dhabi's landscape. ...