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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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Monday, September 29, 2008

Dubai's Water & Power Capacity Expansion

Dubai to Spend $20 Billion on Expanding Water, Power Capacity
Bloomberg
Dubai, the second-biggest sheikhdom in the United Arab Emirates after Abu Dhabi, plans to spend 72 billion dirhams ($20 billion) on expanding its power and water capacity to meet soaring demand in the emirate. ...

United Arab Emirates to Quadruple Electricity Supply by 2017

Dubai commits $19.6bn to utility projects
Arabian Business - UAE
Dubai has committed $19.6 billion to finance utility projects either implemented this year or under construction. Dubai has grown rapidly as a popular location for international companies increasing operations in the Gulf to participate in the region's economic boom. ...The emirate plans to quadruple electricity capacity to around 22,000 megawatts by 2017 from just under 5,500 MW last year to feed ambitious plans to grow the economy by 11 percent per year until 2015. ...

Google in Dubai's Middle East Exhibition GITEX 2008

Dubai Internet City to Host Google's First Middle East Exhibition Presence
Zawya (press release) - United Arab Emirates
Dubai Internet City (DIC), one of the world's largest managed ICT clusters and a member of TECOM Investments, today announced it will host Google at its stand in concourse 2 during GITEX Technology Week 2008, the region's foremost ICT event. The event celebrates Google's debut presence in one of the largest IT exhibitions ...

Dubai's Anti-Aging and Aesthetic Medicine

Dubai taps into $255 billion global spa economy
Al-Bawaba - Amman,Jordan
With the unprecedented growth of the spa industry, the first Dubai Congress on Anti-Aging and Aesthetic Medicine (DCAAAM) – to be held at the Dubai World Trade Centre from 7-9 November... The global spa economy is estimated to be worth over $250 billion, according to a recent report unveiled at the 2008 Global Spa Summit in New York. ...

Mall of the Emirates Expansion

Dubai's Mall Of The Emirates Plans Huge Expansion
Mall of the Emirates, the UAE's favourite shopping landmark, will undergo its largest ever expansion programme with just under half a billion dirham's to be invested in new space, it was announced today.
The project will see the addition of increased facilities for shopping, dining and parking and, will be completed by the first quarter of 2010. The expansion was announced today by Majid Al-Futtaim (MAF) Group which operates the popular mall. …

Al-Tafany Tower Reveiled

Zawya -United Arab Emirates
Dubai - Al Barakah, a leading Dubai based real estate group with a strong presence in all the segments of the real estate value-chain today announced the creation of Al Tafany Properties-a special property development joint venture with American real estate investors. Al Tafany Properties unveiled Al Tafany Tower-the AED 1.25 billion development in the City of Arabia. …

Deyaar's Project at Cityscape 2008

Deyaar to unveil mid-size projects
Zawya - United Arab Emirates
Deyaar Development, the region's fastest growing real estate company, will unveil new mid-size community developments at the upcoming Cityscape Dubai 2008. ...

Ajman Uptown: Dhs 600 million Hotel and Serviced Apartments

Dh 600mn worth real estate property to come up within Ajman Uptown
Gowealthy.com - Dubai,United Arab Emirates
Dubai's renowned property service provider, Sweet Homes will build a Dh 600 million Hotel and Serviced Apartments property within 'Ajman Uptown', a Dh 3 billion real estate development currently under construction in Ajman. ... 

Bawabat Al-Sharq Phase II at Cityscape 2008

AMS targets sales of over AED 1 billion at Cityscape Dubai '08
Al-Bawaba - Amman, Jordan
Bawabat Al Sharq Phase II to be main attraction at iconic show Cityscape is key sales platform for off plan projects: AMS chief Aswaq Management & Services (AMS) – the Abu Dhabi-based mixed-use property consultancy, sales and leasing company – targets sales in excess of AED 1 billion at Cityscape Dubai 2008. ...

Abu Dhabi Investment House to Invest in China

Abu Dhabi Investment House eyes $1.5 bn China fund
Economic Times - Gurgaon,Haryana,India
Abu Dhabi Investment House, a Gulf Arab bank, is planning a $1.5 billion private equity fund to invest in real estate and manufacturing in China with a Chinese partner, a senior executive said on Sunday.
An agreement to launch the fund will be signed within two months, said Rashad Janahi, ADIH's managing director. ...

Burj Al-Alam for the Grab

Arabtec quits Burj Al Alam talks
The National - Abu Dhabi, United Arab Emirates
Arabtec has pulled out of contract negotiations to build the 500 metre high Burj Al Alam, which is slated to be the emirate's second tallest building.
Arabtec had been in talks with Fortune Group, the developers, about the deal estimated to be worth Dh2.9bn (US $800mn) since the beginning of this year and was tipped to win the contract. ...

Aqaba Development Corporation in Expo Real Estate Germany 2008

ADC Participates in Expo Real 2008 in Germany to Promote Real Estate Sector in ASEZ
Newswire Today (press release) - London,UK
The Aqaba Development Corporation (ADC) will participate in Expo Real 2008, as part of a delegation representing Jordan that includes the Aqaba Special Economic Zone Authority (ASEZA) and the Greater Amman Municipality. The exhibition will take place in Munich, Germany between the 6th- 8th of October.

Jal Aashwa, AED 1 Billion Island Project by Opulence Holdings

Opulence to sculpt dream island
The National - Abu Dhabi, United Arab Emirates
Speculators have drawn ire from economists lately for driving up the prices of homes, but the founders of Opulence Holdings represent another side to the story.

The three Indian investors are taking the millions of dirhams they have earned in the high-speed UAE resale market and using it to sculpt an island in the shape of a seahorse off the shores of Dubai. The Dh1 billion (US$272 million) project, called Jal Aashwa, will be located on the African "continent" of The World, an archipelago artificially created by Nakheel. ...

The Wings Towers on Najmat Marina on Al Reem Island.

Dar Al Dhabi Real Estate participates at Cityscape Dubai 2008
AME Info (press release) - United Arab Emirates
Dar Al-Dhabi Real Estate, a Kuwaiti shareholding closed company and a subsidiary of Dar Al-Dhabi Holding, will be exhibiting the landmark Dar Al-Dhabi Project and 300m towers The Wings at Cityscape Dubai on the 6th - 9th of October. ...

The Atrium at Waterfront. AED 2.4Bn LOI Issued to Arabtec

The Sunland Group (Dubai) has issued a Letter Of Intent (LOI) to Arabtec Construction LLC, a subsidiary of Arabtec Holding PJSC, for the construction of its latest project The Atrium at Waterfront, which is in the new Madinat Al Arab precinct of Nakheel's Dubai Waterfront development at Jebel Ali.

Four Key Projects at Cityscape Dubai 2008 by Khuyool Investments

Khuyool Investments to showcase four key projects worth Dhs1.3bn at Cityscape Dubai 2008
AME Info
Khuyool Investments, one of the fastest growing property development firms in the region, will highlight four of its major developments during the seventh edition of Cityscape Dubai, the largest business-to-business real estate investment and development event in the world to be held from October 6 to 9, 2008, at the Dubai International Exhibition Centre. ...