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Dubai ranked world’s 2nd hottest property market in 2012
Dubai ranked world’s 2nd hottest property market in 2012

With the property price crash of 2008/09, induced as it was by the global economic slowdown, now a thing of past, Dubai has emerged as the second hottest property market in 2012. According to a just published Forbes ranking of ‘The Hottest Real Estate Markets On Earth,’ which ranks real estate markets in 2012 based on the average house price growth, Dubai is ranked at No. 2, second only to Hong Kong, which saw house… read more »

Dubai Developers Luring Individuals With Hotel Boom: Real Estate
Dubai Developers Luring Individuals With Hotel Boom: Real Estate

It took Damac Properties Co. one day to sell the first 200 units in its Hollywood-themed apartment and hotel project as buyers seized the opportunity to invest in Dubai’s booming tourism market.  The closely held company, working with Viacom Inc. (VIAB)’s Paramount Pictures, plans to finance the $1 billion, four-tower development in part with proceeds from advance sales of serviced apartments. Buyers of serviced… read more »

Developers talk tall amid Dubai property recovery
Developers talk tall amid Dubai property recovery

The Dubai builder of the world's highest tower, the Burj Khalifa, hinted it might develop an even taller skyscraper and two conglomerates outlined grandiose real estate plans, underscoring recovery in the emirate's bombed-out property sector. The plans would have appeared fanciful three years ago, when a crash in the inflated real estate market triggered a corporate debt crisis and a slew of company restructurings. But… read more »

Dubai government keen to promote solar power
Dubai government keen to promote solar power

The Dubai government is pondering a number of initiatives aimed at encouraging property owners to install solar panels.Electricity consumption generally skyrockets at this time of year across the city, as residents and holidaymakers ramp up their air conditioning.Like many countries around the world, the UAE is desperate to reduce its reliance on fossil fuels and the authorities think solar power holds the key to slashing the… read more »

Tasweek to launch $140m Abu Dhabi villa project
Tasweek to launch $140m Abu Dhabi villa project

UAE developer Tasweek is to launch an AED500m ($136m) real estate project in Abu Dhabi this September, the firm’s CEO told Arabian Business.Phase one of the development, which is in a currently undisclosed location in the Gulf state’s capital, will include 400 detached and semi-detached villas, as well as retail and community amenities. CEO Masood Al Awar claimed that prices for the properties were 10 percent cheaper than… read more »

UAE firm in deal for Malaysian luxury homes
UAE firm in deal for Malaysian luxury homes

UAE property advisor Tasweek Real Estate Development and Marketing, has entered into a joint venture to develop, own, operate and market the luxury properties in Malaysia. The deal with Casabrina Vacation Villas is part of Tasweek's recently completed $250m property portfolio and reflects the company's investment focus on Malaysia's thriving tourism industry, the company said in a statement. It added that… read more »

Newly-born Rakia Rera attracts RAK developers
Newly-born Rakia Rera attracts RAK developers

More than 12 developers have registered with the new Rakia Rera, the Ras Al Khaimah Investment Authority's property regulation arm.Rakia Rera will first oversee the implementation of the escrow account law for freehold projects. There are currently a minimum of 100 developers in Ras Al Khaimah presiding over the same number of projects, said Wahid Atalla, board member of Rakeen, which is developing Al Marjan Island,… read more »

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