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

28 January, 2012

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 ...

UAE economy set to grow 4%

27 January, 2012

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.

27 January, 2012

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 ...

27 January, 2012

?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 ...

Cameron backs Bahrain's reform strategy

27 January, 2012

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.

27 January, 2012

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 ...

27 January, 2012

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.

27 January, 2012

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 ...

27 January, 2012

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 ...

Lebanon real estate deals drop 12%

26 January, 2012

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 ...

26 January, 2012

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 ...

25 January, 2012

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, ...

25 January, 2012

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 ...

25 January, 2012

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.

17 January, 2012

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 ...

12 January, 2012

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 ...

12 January, 2012

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 ...

09 January, 2012

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

09 January, 2012

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 ...

09 January, 2012

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 ...

09 January, 2012

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, ...

Steel prices rise in Oman

08 January, 2012

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 ...

07 January, 2012

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 ...

05 January, 2012

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 ...

05 January, 2012

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. ...

05 January, 2012

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 ...

05 January, 2012

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 ...

Dubai Mall-Metro link to open by 2013

04 January, 2012

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 ...

Abu Dhabi airport marks 30 years

04 January, 2012

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 ...

04 January, 2012

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.

04 January, 2012

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

04 January, 2012

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 ...

04 January, 2012

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 ...

03 January, 2012

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.

03 January, 2012

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.

03 January, 2012

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 ...

Abu Dhabi registers 893 firms

02 January, 2012

Abu Dhabi registers 893 firms The Abu Dhabi Department of Economic Development (ADDED) registered 893 new construction firms under 42 categories last year.

02 January, 2012

Eida says ?register now? for ID cards

02 January, 2012

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 ...

?150m more found to fund home care

02 January, 2012

?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

02 January, 2012

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) ...

02 January, 2012

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 ...

02 January, 2012

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.

02 January, 2012

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 ...

02 January, 2012

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, ...

02 January, 2012

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 ...

31 December, 2011

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 ...

31 December, 2011

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 ...

30 December, 2011

Dubai Metro operator acquires Mubadala subsidiary Dubai Metro operator Serco has bought facilities management firm JBI Properties Services Company from Mubadala Development Company, the ...

UK commuters 'pay more for trains'

30 December, 2011

UK commuters 'pay more for trains' Some UK rail commuters, facing 6% average fare rises next week, are already paying almost 10 times more for their season tickets than their European ...

30 December, 2011

CBI says business must stop relying on UK consumers and focus on exports Britain urgently needs to rebalance its flagging economy away from dependence on domestic demand by ramping up exports ...

Leung homes in on fixing housing policy

30 December, 2011

Leung homes in on fixing housing policy Chief executive candidate Leung Chun- ying yesterday unveiled an 18-point housing policy. That includes allowing up to 5,000 households a year to buy ...

$2.2bn budget surplus in 10 months

30 December, 2011

$2.2bn budget surplus in 10 months Oman’s budget surplus reached RO 830.1 million ($2.2 billion) at the end of October, data from finance ministry showed yesterday.

30 December, 2011

ICBC begins two-day bond sale to bolster capital Industrial & Commercial Bank of China Ltd (ICBC), the world's biggest commercial bank by market value.

30 December, 2011

PH gets $500M for reconstruction efforts in Sendong-hit areas The World Bank on Friday said it released $500 million to help the Philippine government's recovery and reconstruction efforts in ...

30 December, 2011

Proposal to end power subsidy, slab benefits The Planning Commission has proposed withdrawal of power tariff subsidy for consumers using more than 100 units of electricity per month.

29 December, 2011

Aldar Properties has announced the government of Abu Dhabi has agreed to buy assets valued at Dhs16.8bn ($4.57bn) from, to boost the company?s finances, Bloomberg has reported. The government will ...

29 December, 2011

Union Development Co (UDC), the developer behind the man-made Pearl island project, has said it negotiating with a state pension fund to make a strategic investment in the developer, Reuters has ...

29 December, 2011

Dubai?s property regulator has said Nakheel has no right to deny residents of the palm-shaped island access to communal facilities by turning them into exclusive clubs, Bloomberg has reported. ...

Abu Dhabi rescues Aldar with Dh16.8b

29 December, 2011

Abu Dhabi rescues Aldar with Dh16.8b The Abu Dhabi government yesterday came to the rescue of the emirate's biggest property developer, Aldar Properties PJSC, with a Dh16.8 billion lifeline ...

29 December, 2011

Delays expected in Eida card delivery

29 December, 2011

Delays expected in Eida card delivery Delays can be expected in the delivery of Emirates ID cards to residents who have completed registration procedures in November and December.

Labour mission 'to defeat despair'

29 December, 2011

Labour mission 'to defeat despair' Labour leader Ed Miliband is urging his party to show they can "make a difference" at a time when the challenges facing the country are the ...

Tycoon tips 10pc fall in flat prices

29 December, 2011

Tycoon tips 10pc fall in flat prices One of Hong Kong's top property tycoons expects home prices to fall by up to 10 percent next year.

29 December, 2011

Bahrain market key for Honda GCC operations Bahrain has proved to be a very aggressive and resilient market and vehicle sales have not been affected due to the recent crisis.

29 December, 2011

Massive hike in gas tariff from January 1 Amid an acute shortage of natural gas across the country, triggering public protests in various areas, the government decided.

Markets slide on dismal imports data

29 December, 2011

Markets slide on dismal imports data Philippine share prices on Wednesday tumbled for the second consecutive session on the back of mixed indicators from the United States and disappointing ...

28 December, 2011

Saudi-based Savola Group has said it is to sell its 80% stake in a property firm to Knowledge Economic City, Reuters has reported. The sale of the stake in Al-Mujamaat United Company for Real Estate ...

28 December, 2011

Contract registration rule will only apply to tenants in Dubai Registration of residential and commercial rental contracts with the Dubai Land Department through Ejari system is mandatory ...

GCC economies to slow down in 2012

28 December, 2011

GCC economies to slow down in 2012 The economies of Gulf hydrocarbon producers are projected to race by nearly seven per cent in 2011 but growth could tumble to nearly half that rate because ...

Unemployment 'set to rise in 2012'

28 December, 2011

Unemployment 'set to rise in 2012' Unemployment will increase to 2.85 million in 2012, while the number of people in work will fall by 120,000 as jobs continue to be lost in the public sector.

27 December, 2011

The Iranian and Syrian governments are in talks over a mega project which includes building 50,000 residential units in Syria, Fars news has reported. The two countries are trying to reach a ...

22 December, 2011

Gulf Arab economies to slow in 2012, analysts say Economic growth is likely to slow in most of the Gulf's wealthy oil exporters next year but governments will remain able to spend to counter ...

22 December, 2011

Saudi unemployment benefit may hinder Nitaqat scheme Plans to introduce a monthly unemployment allowance for more than 700,000 men and women in Saudi Arabia could hinder the Kingdom’s ...

22 December, 2011

Etihad Airways signs $1b deal with technology firm Sabre In its second big deal this week Etihad Airways signed a 10-year contract with aviation computer technology provider Sabre Airline ...

21 December, 2011

Egypt's Orascom Construction Industries (OCI) has been awarded an $810m contract for work on the Egyptian Grand Museum in a joint venture with BESIX Group, Reuters has reported. Located on the ...

Office space market crash feared

21 December, 2011

Office space market crash feared Thousands of square metres of new office space due to come online in Riyadh over the next two years has raised fears of an office market crash after 2012.

21 December, 2011

OPEC heads for highest income in 51 years A surge in oil prices and output will likely lift OPEC’s crude export earnings this year to their highest level since the cartel was created 51 ...

21 December, 2011

UAE and Britain agree to initiate joint highway project in Afghanistan HH Sheikh Abdullah bin Zayed Al Nahyan, Foreign Minister of the United Arab Emirates, today hosted William Hague MP, ...

21 December, 2011

Consumer confidence falls to post-recession low British households are at their gloomiest since the recession, according to a report released on Wednesday that will send further shockwaves ...

21 December, 2011

BFX trading turnover posts steady growth The Bahrain Financial Exchange (BFX) has seen steady growth in its trading turnover and the successful completion of four weeks of trading on its ...

21 December, 2011

Analysts Forecast 2 More Interest Rate Cuts in 2012 Analysts forecast two more overnight cash rate cuts by the Reserve Bank of Australia (RBA). By how much will the cut be and when will it be ...

21 December, 2011

LBS Bina bullish on meeting sales target Property developer, LBS Bina Group Bhd, is confident of achieving RM800 million sales target despite tough market conditions.

Egypt's OCI to redeem local bonds early

20 December, 2011

Egypt's largest listed company, Orascom Construction Industries (OCI) has said it would redeem bonds worth EGP1.65bn ($274m) early, as part of a debt refinancing package for its fully-owned ...

19 December, 2011

The regulatory arm of Dubai Land Department (DLD), the Real Estate Regulatory Authority (RERA) has issued warnings to 23 real estate brokerage companies for violations committed through their ...

19 December, 2011

Emaar Properties PJSC has signed a new Islamic and Conventional financing facility amounting to Dhs3.6bn (approximately $1bn) with Dubai Islamic Bank PJSC, National Bank of Abu Dhabi and Standard ...

18 December, 2011

The Dubai Land Department (DLD) has introduced two initiatives, Tayseer and Tanmia, to revive and support the real estate market in the emirate, Gulf News has reported. Tayseer aims to support ...

15 December, 2011

$150b investments likely in Saudi petrochemicals Saudi Arabia's petrochemical industry will have attracted $150 billion (Dh551 billion) in total cumulative investments by 2016.

15 December, 2011

UAE, Qatar fail to net emerging market upgrade Index provider MSCI on Wednesday maintained the United Arab Emirates and Qatar as frontier markets, once again delaying a much-awaited promotion ...

15 December, 2011

UAE following 'good' nuclear safety standards, say experts The UAE, aiming to be the first Gulf Arab nation to develop nuclear power, is following “good” safety standards as it ...

15 December, 2011

Andrew Lansley orders independent assessments of NHS boards Andrew Lansley, the health secretary, has ordered "independent assessments" of the boards of NHS trusts after a powerful ...

15 December, 2011

Emaar Middle East has announced the first homes in its landmark Jeddah Gate development are set to be handed over soon, Arab News has reported. Spread over a plot area of 12,300 sq m, Abraj Al Hilal ...

14 December, 2011

UK-based architecture and building design firm, Capita Symonds has unveiled the design plans for a new SR117m mixed-use development on the east coast of Saudi Arabia. Designed for a private client, ...

14 December, 2011

Abu Dhabi-based developer, Aldar Properties has awarded Jacobs Engineering a contract to provide project management support services during construction for the new Yas Mall at Yas Island in Abu ...

14 December, 2011

High land prices crimp plans for low-cost homes The GCC’s rising land prices are hurting government drives to tackle chronic affordable housing shortfalls and deterring developers from ...

14 December, 2011

UAE ranked 5th worldwide for efficiency in government spending The UAE was ranked fifth in the world in terms of efficiency of government spending in the 2011-2012 Global Competitiveness ...

Construction labour costs fall 8.6%

14 December, 2011

Construction labour costs fall 8.6% The cost of construction labour in Abu Dhabi fell 8.6 per cent in November from the previous month, Statistics Centre - Abu Dhabi (SCAD).

14 December, 2011

'Big society' project lacks clarity and leadership, say MPs David Cameron's "big society" project is confusing the civil service, charities and the public because it lacks a clear ...

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