|Real Estate News|
News Archive of April 2006 Page 1
RAK Properties, the premier real estate development company of Ras Al Khaimah, has unveiled its second major development project in RAK ‘Mina Al Arab’ at an estimated cost of AED 10 billion, spread over a beachfront strip and a group of islands.
Al Seef Investments LLC, the Dubai Investments company, launched the company’s first real estate property Dubai Marina Star.
Dubai Lagoon, the 3 billion AED high watermark of living, announced their launch of the second phase of the contemporary property development based in the heart of new Dubai.
Nakheel’s International City project, located in the Al Warsan area of Dubai, is progressing on schedule, with 100 per cent of infrastructure work now complete.
Zabeel Investments, the developer of AED 2.1 billion Tiara Residence project, is offering a 30 per cent rental return guarantee scheme over a period of three years for customers.
Bollywood megastar Amitabh Bachan is likely to have a permanent home at the Tiara Residence on The Palm Jumeirah island.
Following a record breaking seven months of operation, Al Qudra Holding P.J.S.C. (AQH) held their first Annual General Meeting (AGM) on Tuesday 25th April 2006.
Less than 12 months after the opening of the iconic Grosvenor House in Dubai, the property’s owner, His Highness Sheikh Ahmed bin Saeed Al Maktoum, has announced the development of a second tower for the property.
Dubai Properties, one of the leading master developers in the UAE, has announced that work has started on its new residential development in Al Quoz, which will deliver 8,000 housing units by end of 2008.
Nakheel, developer of more than US$30 billion in real estate in Dubai, and The Trump Organization have unveiled a new design for the Trump International Hotel & Tower, the centerpiece of The Palm Jumeirah.
Bond Communications announced that they were awarded the Dubai Mall audio-visual systems package. The Dubai Mall, part of the Burj Dubai development, is to be ranked as the world’s largest mall, with a total of 1.5 million square feet.
Price stabilisation in the UAE real estate market is to be expected over the next 12 months, but this is the sign of a maturing market rather than a lack of confidence, according to industry officials.
Cayan has appointed APCC a Dh40 million contract for enabling works for their luxury residential tower Infinity. APCC has been awarded the contract based on their reputation for professionalism and quality of workmanship.
Danet Abu Dhabi — a landmark real estate project costing Dh34 billion, has been announced in the capital to develop 34 multi-storied commercial and residential towers, green areas, hotels, shopping malls and entertainment facilities.
Dubai Islamic Bank (DIB) has launched a 30 million euro (Dh135 million) Pan European Real Estate Fund. The newly launched fund will invest in property throughout Europe with a focus on Spain, Germany and France.