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In The News : Dubai Real Estate / Freehold Property

Distressed property fund launched in UAE


Financial and investment advisory services provider, Mayfair Wealth Management (MWM), which is based in the Cayman Islands, yesterday announced the launch of a new Sharia-compliant distressed property fund, worth $50 million (Dh183.7 million) in the UAE.

Kuwait property sales plunge 47% as economic growth slows


Kuwaiti real estate sales plunged 47 per cent in the second-quarter compared to the year earlier period, as a result of the global financial crisis, official data showed yesterday.

Homeowners should be cautiously optimistic as elusive buyers return


Foreclosures creating shadow inventory could weigh on prices showing signs of stability.

Rash of data shows worst is over


Buyers scooping up discounted properties slows rate of falling US home prices.

Emaar could sell part of Indian unit in IPO


Emaar Properties will sell a 10 per cent to 15 per cent stake of its India MFG joint venture in an $800-million initial public offering (IPO), according to local media reports on Sunday.

Emaar's US unit brings major losses


The recent wave of company results in the real estate and construction sectors have been a mixed bag, but generally the outlook seems to be brighter than in past months.

UK economy dares to hope as house prices limp back


British house prices rose for a third month running in July, the Nationwide Building Society said on Thursday, providing further evidence that property prices may have stabilised despite low turnover.

Emaar reveals Dh1.29b loss


Emaar has revealed a second quarter loss of Dh1.29 billion, a 161 per cent drop compared with the Dh2.12 billion during the same period last year, due to the writing off the full value of its US subsidiary.

Parking poses problem at Deyaar's Seef-2


Residents claim they're asked to pay additional for parking, while their contracts state otherwise.

Aldar profit falls 79.5% in wake of delayed sales in weak market


Aldar Properties' decision to hold off land sales is reflected in its second quarter profits, which fell 79.5 per cent from last year to Dh253.5 million, the company reported on Tuesday.

Better Homes plans to expand abroad


Real estate agency, Better Homes, will open offices in Qatar, Oman and South Africa this year.

Consumer spending will feel pain as home sales continue to decline


The UK's house-price slump will persist until 2012 and hurt consumer spending, the National Institute of Economic and Social Research (Niesr) said.

Tameer upbeat about UAQ project


Tameer said its project Al Salam City in Umm Al Quwain (UAQ), could be worked on in the future, despite it being recently put on hold.

Home sales stage third monthly rise


US existing home sales notched their third monthly rise in June and prices hit the highest level since October, fuelling hopes that the housing sector is finally on the mend and will help propel a broader economic recovery.

Housing Establishment developing projects for Emiratis


Mohammad Bin Rashid Housing Establishment is introducing a social integration scheme for Emiratis in its upcoming projects in Dubai.

Gulf realty market poised for 2011 revival


Property markets in the Middle East will start to recover by the beginning of 2011, according to the chief executive officer of Depa Ltd., which is fitting out the interior of the world's tallest tower in Dubai.

Mortgages could boost Ajman realty investment


Ajman's real estate market would benefit from the availability of mortgage financing, according to developers in the emirate.

Sorouh Real Estate PJSC records 16% increase in second quarter net profit


Sorouh Real Estate PJSC, the Abu Dhabi-based real estate developer announced on Wednesday its half year results for the period ended 30 June 2009. Revenues for the half year 2009 were Dh1, 314m (2008: Dh1, 693 m).

Saudi Arabia forced to finance mega projects


The government of Saudi Arabia has been forced to foot the bill to ensure that work continues uninterrupted on several mega development projects in various regions of the kingdom.

British banks accused of profiteering on mortgages


Banks and building societies in the United Kingdom are accused of profiteering by keeping mortgage rates high for new borrowers and customers coming off special deals.

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