UAE Real Estate News - www.providentestate.com

UAE market yet to feel impact of investor visa - CB Richard Ellis

Thu, 01 Jan 1970 04:00:00 GST

Date: 2012-01-28
Property consultancy, CB Richard Ellis has said the lack of clarity on the three-year UAE real estate investor visa is not encouraging investor influx and the market is still to feel the full impact of the decision, Emirates 24-7 has reported. �The full impact of the investor visa is still to be felt and with some uncertainty remaining over the act...

UAE economy set to grow 4%

Thu, 01 Jan 1970 04:00:00 GST

Date: 2012-01-27
UAE economy set to grow 4% The UAE economy is forecast to grow by at least four per cent in 2012, Economy Minister Sultan Al Mansouri said on Thursday....

UAE can export oil if Iran closes Hormuz

Thu, 01 Jan 1970 04:00:00 GST

Date: 2012-01-27
UAE can export oil if Iran closes Hormuz The UAE will be able to use ports on the Gulf of Oman for oil exports if Iran closes the Strait of Hormuz, transit point for about a fifth of the global oil supply....

£963,000 bonus for RBS boss sparks debate

Thu, 01 Jan 1970 04:00:00 GST

Date: 2012-01-27
£963,000 bonus for RBS boss sparks debate A £963,000 bonus for the boss of a taxpayer-funded bank was attacked as "out of touch" by Labour, as a government minister claimed he had a public "duty" to refuse it....

Cameron backs Bahrain's reform strategy

Thu, 01 Jan 1970 04:00:00 GST

Date: 2012-01-27
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Former aviation chief denies insider trading

Thu, 01 Jan 1970 04:00:00 GST

Date: 2012-01-27
Former aviation chief denies insider trading Former civil aviation chief Albert Lam Kwong-yu pleaded not guilty to insider trading yesterday over a trade in which he made HK$79,000....

Key Tamkeen workshop focuses on excellence

Thu, 01 Jan 1970 04:00:00 GST

Date: 2012-01-27
Key Tamkeen workshop focuses on excellence As part of its commitment to strengthening its strategy and enhancing its performance to better serve the public, Tamkeen's senior management took part in a series of three daily workshops....

Australian Banks Cut Loan Exposure to Europe

Thu, 01 Jan 1970 04:00:00 GST

Date: 2012-01-27
Australian Banks Cut Loan Exposure to Europe The worsening eurozone debt crisis has prompted Australian banks to be more aggressive in cutting their exposure to the embattled continent....

Private home prices continue to moderate for 9th straight quarter

Thu, 01 Jan 1970 04:00:00 GST

Date: 2012-01-27
Private home prices continue to moderate for 9th straight quarter The rate of private housing price increase has continued to moderate for nine consecutive quarters, the Urban Redevelopment Authority (URA)....

Govt should consider new taxes - union boss

Thu, 01 Jan 1970 04:00:00 GST

Date: 2012-01-27
Govt should consider new taxes - union boss The Government is being urged to be consider new taxes to increase revenue and use caution in its plans to cut spending in order to keep its commitment....

Lebanon real estate deals drop 12%

Thu, 01 Jan 1970 04:00:00 GST

Date: 2012-01-26
The number of real estate transactions in Lebanon has seen a 12.02% decline last year to 82,984, compared with 94,320 transactions in 2010, The Daily Star has reported. The total value of transactions fell by $640m to $8.84bn in 2011, down from $9.48 billion in the previous year. However, the average real estate transaction value was 6.01% higher a...

'Nitaqat', reliance on expats forces construction halts in Saudi

Thu, 01 Jan 1970 04:00:00 GST

Date: 2012-01-26
Several Saudi contracting firms have been forced to turn down huge public and private sector projects in the Eastern Province, due to the �Nitaqat� system that aims at reducing reliance on expatriate workers and ensuring jobs for Saudis, Saudi Gazette has reported. �Contracting companies are facing problems because their workers run away in search ...

Abu Dhabi real estate deals hit Dh42.9bn

Thu, 01 Jan 1970 04:00:00 GST

Date: 2012-01-25
According to the Abu Dhabi Municipality, the total volume of property transactions recorded in the capital last year has exceeded Dhs42.9bn ($11.6bn), The National has reported. Of that total, Dhs3.7bn involved land sales and Dhs39.1bn concerned mortgage transactions, the civic body said, without providing historical comparisons. Registration dates...

Louvre and Guggenheim expanding to UAE capital

Thu, 01 Jan 1970 04:00:00 GST

Date: 2012-01-25
Abu Dhabi has unveiled plans to resume suspended real-estate projects including branches of the Louvre and Guggenheim museums after reviewing their viability, Bloomberg has reported. At least $30bn worth of projects were put on hold in Abu Dhabi while the government conducted the review. The emirate�s executive council said budgets and opening date...

GCC sukuk issue triples despite global turmoil

Thu, 01 Jan 1970 04:00:00 GST

Date: 2012-01-25
GCC sukuk issue triples despite global turmoil The issuance of sukuk (Islamic bonds) in Gulf hydrocarbon producers nearly tripled in 2011 despite the global downturn....

Emaar Middle East showcases flagship lifestyle communities in Saudi Arabia at special sales event at The Dubai Mall

Thu, 01 Jan 1970 04:00:00 GST

Date: 2012-01-17
Emaar Middle East, a subsidiary of Emaar Properties PJSC, is showcasing its flagship lifestyle community developments in Saudi Arabia at a special roadshow and sales event to be held from January 19 to 26, 2012 at The Dubai Mall....

Saudi Airlines Catering signs a lease-agreement to receive Industrial land plot at the Industrial Valley in King Abdullah Economic City

Thu, 01 Jan 1970 04:00:00 GST

Date: 2012-01-12
King Abdullah Economic City (KAEC), announced a lease- agreement with the Saudi Airlines Catering (SAC) and handed over an Industrial land plot at the Industrial Valley for the establishment of it�s industrial laundries project slated to be the largest in the GCC....

'Saudi Airlines Catering' signs a lease-agreement to receive industrial land plot at Industrial Valley in King Abdullah Economic City

Thu, 01 Jan 1970 04:00:00 GST

Date: 2012-01-12
King Abdullah Economic City (KAEC), announced a lease- agreement with the Saudi Airlines Catering (SAC) and handed over an industrial land plot at the Industrial Valley for the establishment of it�s industrial laundries project slated to be the largest in the GCC....

Saudi, Turkey talks to thrash out Sabic dumping claims

Thu, 01 Jan 1970 04:00:00 GST

Date: 2012-01-09
Saudi, Turkey talks to thrash out Sabic dumping claims Saudi Arabia and Turkey are in talks over a claim that Saudi Basic Industries Corp, the world’s largest petrochemical maker....

Saudi fiscal surplus to widen in 2012

Thu, 01 Jan 1970 04:00:00 GST

Date: 2012-01-09
Saudi fiscal surplus to widen in 2012 Saudi Arabia’s fiscal surplus could rocket by more than seven times in 2012 as revenue will likely be far higher than the level projected by the world’s oil powerhouse....

Banks report 'normal' business after four years of decline, survey finds

Thu, 01 Jan 1970 04:00:00 GST

Date: 2012-01-09
Banks report 'normal' business after four years of decline, survey finds The level of business in the financial services was regarded as "normal" in the last three months of 2011 following less than usual amounts of activity for more than four years....

Alex Salmond in battle with David Cameron over Scottish referendum

Thu, 01 Jan 1970 04:00:00 GST

Date: 2012-01-09
Alex Salmond in battle with David Cameron over Scottish referendum David Cameron is to take a high-stakes gamble with the union this week by telling the Scottish first minister, Alex Salmond, that he can have a binding referendum on Scottish independence....

Steel prices rise in Oman

Thu, 01 Jan 1970 04:00:00 GST

Date: 2012-01-08
According to a survey conducted by the Oman�s Public Authority for Consumer Protection, steel prices in the country rose again at distribution points in Muscat Governorate since the start of this month, Oman Daily Observer has reported. The study covered Omani, Turkish, UAE and Qatari steel and focused on the prices of four main companies; Bahwan, ...

Nakheel successfully negotiates $272m contractor claims

Thu, 01 Jan 1970 04:00:00 GST

Date: 2012-01-07
Nakheel said it has negotiated so far contractor claims worth Dhs1bn ($272.24m) and hopes to issue the second tranche of its sukuk within the next six months, Reuters has reported. "So far we have been successful in the negotiations," said Nakheel chairman, Ali Rashid Lootah. The developer, which issued the first tranche of a $1.31bn Isla...

UAE housing prices to continue to fall, says Asteco

Thu, 01 Jan 1970 04:00:00 GST

Date: 2012-01-05
UAE-based property services firm, Asteco has said a group of completed projects adding thousands of homes to the market will force housing prices and rents to continue its decline in the country next year, despite growing demand for homes in many neighbourhoods, The National has reported. "Unless we see a real pick-up in demand driven by popul...

Bahrain signs $551m deal to provide affordable housing

Thu, 01 Jan 1970 04:00:00 GST

Date: 2012-01-05
The Bahraini housing ministry has signed a BD208m ($551.6m) Public Private Partnership (PPP) agreement with real estate developer, Nassej to build more than 4,000 affordable homes within three years. The project involves delivering more than 4,100 housing units, of which 3,110 are social housing units within a period of less than three years....

Emaar expects growth in Dubai's property sector

Thu, 01 Jan 1970 04:00:00 GST

Date: 2012-01-05
Dubai-based Emaar Properties expects the emirate�s property market to record positive growth in 2012 across all sectors, Zawya Dow Jones has reported. The company said it will continue to focus on affordable housing through its Dawahi Development subsidiary in the new year. �Following the socio-political changes emerging from the Arab Spring, elsew...

The Dubai Mall is world's most-visited shopping and leisure destination

Thu, 01 Jan 1970 04:00:00 GST

Date: 2012-01-05
The Dubai Mall achieved a record-smashing year in 2011 to become the world�s most-visited shopping and leisure destination, welcoming more than 54 million visitors in 2011. The number of visitors in 2011 is about 15% higher than the 47 million visitors in 2010....

Dubai Mall-Metro link to open by 2013

Thu, 01 Jan 1970 04:00:00 GST

Date: 2012-01-04
Dubai Mall-Metro link to open by 2013 A project has been launched to build a 820-metre-long link that directly connects Burj Khalifa/The Dubai Mall with the nearby metro station by travelators....

Abu Dhabi airport marks 30 years

Thu, 01 Jan 1970 04:00:00 GST

Date: 2012-01-04
Abu Dhabi airport marks 30 years Abu Dhabi International Airport, which is undergoing a Dh25 billion redevelopment plan, has handled 126 million passengers in 30 years since its inauguration on January 4, 1982....

UAE National ID card application and renewal can now be done online

Thu, 01 Jan 1970 04:00:00 GST

Date: 2012-01-04
UAE National ID card application and renewal can now be done online Residents who apply for national ID cards online using a credit card will be able to save the Dh30 typing fee....

Going green will weigh on fees at new-look HOS flats

Thu, 01 Jan 1970 04:00:00 GST

Date: 2012-01-04
Going green will weigh on fees at new-look HOS flats Owners of new Home Ownership Scheme flats may have to pay more in management fees because of new and green designs....

Pan-democrat rivals stake out home turf

Thu, 01 Jan 1970 04:00:00 GST

Date: 2012-01-04
Pan-democrat rivals stake out home turf Would-be chief executive candidates Albert Ho Chun-yan and Frederick Fung Kin-kee clashed over the "hegemony" of developers in the first televised debate....

Oman?s economy shows robust growth in 2011

Thu, 01 Jan 1970 04:00:00 GST

Date: 2012-01-04
Oman?s economy shows robust growth in 2011 The national economy showed robust growth in spite of the severity of the international financial and economic crisis that affected most of the advanced economies....

Dubai realty in recovery mode with sales rising 20% in 2011

Thu, 01 Jan 1970 04:00:00 GST

Date: 2012-01-03
Dubai realty in recovery mode with sales rising 20% in 2011 The Dubai Land Department has revealed that sales of land and property rose 20 per cent in 2011....

Aldar fears fade after $4.6bn Abu Dhabi bailout

Thu, 01 Jan 1970 04:00:00 GST

Date: 2012-01-03
Aldar fears fade after $4.6bn Abu Dhabi bailout Aldar Properties Islamic bonds rallied the most in eight months after the developer got AED16.8bn ($4.6bn) from the Abu Dhabi government....

Emaar adds to the convenience of visitors to Downtown Dubai with 820-metre long pedestrian link to Dubai Metro

Thu, 01 Jan 1970 04:00:00 GST

Date: 2012-01-03
The Dubai Mall, the flagship development of Emaar Malls Group and the world�s largest shopping and entertainment destination, has launched a project to build a 820-metre long pedestrian link that directly connects the Burj Khalifa/The Dubai Mall Metro Station with the iconic attractions in Downtown Dubai, including the mall and Burj Khalifa, the wo...

Abu Dhabi registers 893 firms

Thu, 01 Jan 1970 04:00:00 GST

Date: 2012-01-02
Abu Dhabi registers 893 firms The Abu Dhabi Department of Economic Development (ADDED) registered 893 new construction firms under 42 categories last year....

Region's stock markets poised to rebound as investors return

Thu, 01 Jan 1970 04:00:00 GST

Date: 2012-01-02
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Eida says ?register now? for ID cards

Thu, 01 Jan 1970 04:00:00 GST

Date: 2012-01-02
Eida says ?register now? for ID cards The Emirates Identity Authority (Eida) recently launched a campaign to spread the importance of registering for the Emirates Identity Cards among the residents....

£150m more found to fund home care

Thu, 01 Jan 1970 04:00:00 GST

Date: 2012-01-02
£150m more found to fund home care The Government has found an extra £150 million for patients to receive care at home rather than in hospital....

NMC opens $10.6m Sehla facility

Thu, 01 Jan 1970 04:00:00 GST

Date: 2012-01-02
NMC opens $10.6m Sehla facility A first-of-its-kind automobile service centre has opened in Bahrain. Customers at the brand new BD4 million ($10.6m), 9,000 sqm National Motor Company (NMC) facility in Sehla....

Govt allots a third of 2012 budget for MDGs

Thu, 01 Jan 1970 04:00:00 GST

Date: 2012-01-02
Govt allots a third of 2012 budget for MDGs The Aquino administration has set aside at least a third of this year’s budget for poverty reduction and social services sectors to meet key Millennium Development Goals....

House buyers forced to wait as listings plunge

Thu, 01 Jan 1970 04:00:00 GST

Date: 2012-01-02
House buyers forced to wait as listings plunge House listings have plunged in the past month and would-be buyers are being forced to wait around for suitable properties to come on the market....

ODB Board okays loan worth RO 3m for various projects

Thu, 01 Jan 1970 04:00:00 GST

Date: 2012-01-02
ODB Board okays loan worth RO 3m for various projects As part of its endeavours to finance the development projects and advance the economic development in the country, the Board of Directors of Oman Development Bank (ODB)....

US consultants win Jeddah infrastructure projects

Thu, 01 Jan 1970 04:00:00 GST

Date: 2012-01-02
Jeddah Municipality has selected US-based consultancy firm, Parsons to manage the construction of major infrastructure projects in the city, Saudi Gazette has reported. Under the three-year contract, Parsons will coordinate and manage construction projects and will provide other related services, Parsons said. The projects involve new construction ...

Oman set for drastic drop in property rents by mid-2012

Thu, 01 Jan 1970 04:00:00 GST

Date: 2012-01-02
A property glut would drive rents down by 25% in prime areas of the Omani capital, Muscat, as thousands of new accommodations are expected to be completed in the summer of 2012, Times of Oman has reported. �Records in the ministry of housing show that about 35,000 apartments are due to be completed in Muscat by June next and they will be immediatel...

Tamer Group purchases an industrial land in King Abdullah Economic City

Thu, 01 Jan 1970 04:00:00 GST

Date: 2011-12-31
Emaar, The Economic City (EEC), a Tadawul-listed company developing King Abdullah Economic City (KAEC), announced the signing of a freehold land contract with Tamer Group for the purchase of 500,000 square meters of freehold land in the Industrial Valley at KAEC, the first of its kind in the Kingdom....

Tamer Group purchases industrial land in King Abdullah Economic City

Thu, 01 Jan 1970 04:00:00 GST

Dubai's Palm residents denied access to services urged to report incidents

Thu, 01 Jan 1970 04:00:00 GST

Date: 2011-12-30
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