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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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Friday, September 19, 2008

Riyadh Road Projects

Thirty three new road projects in the capital have either been launched or are in their initial stages. The Higher Commission of Development of Riyadh City, at its fourth meeting here on Tuesday, informed its members about the commission's development projects in the financial year 1428-29 Hijra. ...

Dubai City Tower 3 Times Taller Than Burj Dubai

Meraas dreams of a city in the sky
The National - Abu Dhabi, United Arab Emirates
It may seem like a tall order, but a Dubai developer is considering building a tower three times the height of the Burj Dubai.
Three designs have been drawn up for the planned Jumeirah Garden City project, with the most breathtaking being a 2.4km-high edifice called the Dubai City Tower. ...

KOP Capital Acquired 50% in Stein Group International

Singaporean Based Real Estate Investor Acquires Fifty Percent of Luxury Hotel Group
MarketWatch - USA
KOP Capital Pte Ltd recently acquired a 50% stake in Stein Group International, parent company for one of the fastest growing portfolios of integrated companies in the luxury travel and leisure sector. This investment, worth US$250 million, marks the local real estate company's foray into the global property arena, reaching across Europe and North America. ...

Balli Group Real Estate $3 Billion Expansion

Balli Group to unveil $3 billion real estate portfolio at Cityscape Dubai
Uk-re United Kingdom
Investor-developer, Balli Real Estate Holdings Ltd (BREHL), the property development and investment division of the Balli Group, is sending a senior team to Cityscape Dubai 2008 (6th-9th October). The team will be there to unveil details of BREHL's $3 billion (€1.94 bln.) property development and investment portfolio, as part of its global expansion plans. ...

Saudi Construction Projects in Excess of $460 Billion

Projects in excess of $460 billion (SAR1,725 billion) are currently underway in Saudi Arabia, placing the Kingdom on the verge of an unparalleled construction boom, says a report by National Commercial Bank.

This value figure, however, is a moving target, as projects are announced, rescoped or cancelled on a daily basis. Nonetheless, expectations are for more projects to enter the pipeline, it adds. ...

Sobha Group Prepares New Project in Dubai

Sobha group prepares for downtown Jebel Ali launch
Al-Bawaba - Amman, Jordan
Sobha Group is preparing to launch its fourth commercial project in Dubai, at Downtown Jebel Ali, planned by Dubai based master developer, Limitless.
"Downtown Jebel Ali is one of the most ambitious developments taking shape in Dubai at present, and represents 'Future Dubai', with its close proximity to the new Al Maktoum International airport and the largest man-made sea port at Jebel Ali. ...

$1.49bn Dubai Project by Hillary Swank

Hillary Swank to launch $1.49bn Dubai project
ArabianBusiness.com - Dubai, Umm al Qaiwain, United Arab Emirates
Hollywood actress Hillary Swank will appear in Dubai next month to launch a $1.49 billion project on The World islands mega development.

Academy Award winner Swank has been signed as the face of development Aquitainia, according to a statement released by the project's joint developers Select Property and Select Group, on Wednesday. ...

Orascom Construction Industries Wins First Contract

Arabian Sea Foundation Lands First Contract
MarketWatch - USA
Arabian Sea Foundation Lands First Contract for USD 150 million. Orascom Construction Industries (OCI) announced today that its newconstruction joint venture, "Arabian Sea Foundation" (1) based in AbuDhabi, UAE, in partnership with Hydra CommercialInvestments, Sorouh Real Estate PJSC (SOROUH.ADSM) and CapitalInvestment, landed its first construction contract worth USD 150million. ...

Dubai's Daman Investments to Invest US$ 180M

Investors form US$180M Dubai airport-related firm
International Herald Tribune - France
Dubai's Daman Investments and eight partners are investing a combined US$180 million in a new company that will develop projects to support a massive airport being built in the city-state. ...

Aluminium Smelter Project: JV Saudi Arabia and UAE

Saudi To Invest $17 Billion In Aluminium Projects
Zaywa
Saudi Arabia has approved projects worth more than $17 billion to produce over three million tonnes of aluminium per year and become the dominant exporter of the metal in the Middle East, a leading Saudi bank said yesterday.

One of the biggest smelters in the Gulf Kingdom is a joint venture between Saudi Arabia and the UAE as it will have an initial output capacity of nearly 700,000 tonnes per year, with a potential to double that capacity. ...

Keangnam Enterprises Ltd Won US$758 Million Project in Algeria

South Korean Consortium Wins $758 M Algeria Bid
Zawya
South Korean builder Keangnam Enterprises Ltd. said Tuesday that a consortium consisting of several South Korean builders, including Keangnam, has won a US$758 million bid in Algeria to build infrastructure for a new city in the north of the country. …

Al-Hanoo Holding Updated Al-Nujoom Islands Project

Al Hanoo invests Dhs600m to implement latest water canal technology in Al Nujoom Islands
AME Info (press release) - United Arab Emirates
Al Hanoo Holding, one of the biggest real estate developers in the Middle East, have updated the master plan for Al Nujoom Islands, the biggest waterfront project in the emirate of Sharjah, at a cost of Dhs600m. ... The Al Nujoom Islands project comprises a total of 10 islands, which are being developed in stages. It is expected to be completed in 2010. 35 km of sea water surround the island, while the islands' water canals extend to 25-100 meters in width, and reach 400 meters in some areas. ...