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News Source Cnn.com South Korea’s Samsung Construction is planning to build the tallest building in the world. CNN’s Stan Grant reports.

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The public on Tuesday got its first peek at some of the art that will fill the Louvre Abu Dhabi, the 260,000-square-foot museum designed by the French architect Jean Nouvel and expected to open in the capital city of the United Arab Emirates by 2013. Read the rest of this entry »

Dubai’s government will continue to meet all its contractual obligations, including to contractors, but said it would not decide how companies that had received state aid would use those funds. The statement came in response to a misleading report published in MEED magazine on April 24, 2009. Read the rest of this entry »

In keeping with Dubai’s efforts to shore up real estate sector, another $10 billion (Dh36.73 billion) is being raised by selling bonds this year to tide over the present crunch.

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Confidence is a fragile thing that can swing wildly from being upbeat and willing to take the calculated risks that drive an economy to suddenly evaporating and putting new projects in cold storage. Read the rest of this entry »

Dubai’s Real Estate Regulatory Authority (Rera) officials said that the new rental index to be released shortly shows an average price drop in rents of 10 to 15 per cent. Read the rest of this entry »

Aluminium Dubai, an exhibition of the aluminimum industry, opens today at the Dubai International Convention and Exhibition Centre (DICEC). The event will be inaugurated by Ahmad Humaid Al Tayer, vice-chairman of Dubai Aluminium Company (Dubal) and chairman of Emirates NBD Bank. Read the rest of this entry »

Sweet Homes, a leading UAE-based developer and multi-service provider to the real estate sector, has announced that progress report on the construction of the Dh3 billion Ajman Uptown project has reflected aggressive development. Read the rest of this entry »

Aristocrat Star Investments, a multi-diversified business group, has announced it had awarded a Dh600 million contract for its signature real estate project in Dubai – The Royal Estates to Power Line Gulf Construction (PLGC), a multi-discipline construction company in the UAE. Read the rest of this entry »

Since the homeowners’ event in late January 2009 handing over the first villas to property owners of the Victory Heights’ luxury golf residential real estate development in Dubai, the first families have started to enter their new villas, community and new lifestyle.

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As markets continue to be denuded, consumers are hard-pressed for cash and resources to make ends meet. In such a scenario, the age-old concept of commodity barters or exchanges assumes significance. But will bartering properties solve investors’ debt woes. Read the rest of this entry »

Deyaar Development, Dubai’s fastest growing real estate companies, has presented further details of its 2009 business strategy, including specific projects to be considered for consolidation and total area of units to be delivered over the next 3 years. Read the rest of this entry »

The government of Ajman has established Ajman Real Estate Regulatory Agency (ARRA) through the newly issued Emiri decree No 11, 2008 in order to streamline the property sector of the emirate. Read the rest of this entry »

Tanmiyat, the real estate developer of Living Legends in Dubailand, has announced that it will be suspend the collection of all payments and installments for the project until a revised payment schedule is finalized. It complies with the directives of Dubai’s Real Estate Regulatory Agency (RERA) that came into effect last month. Read the rest of this entry »

All economic aspects of Dubai’s Strategic Plan 2015 are currently under review to help stabilise the economy and safeguard jobs, a senior government economist said. Read the rest of this entry »

Dubai International Airport’s Terminal 2 has undergone a major refurbishment, extending check-in and boarding facilities, revitalizing the interior and exterior decor, plus offering more dining choices. Read the rest of this entry »

Prominent property developer in Dubai, Deyaar said it is now looking for consolidation. According to the developer, its six projects will be delivered in 2009, of which nearly 80 per cent are already completed. Read the rest of this entry »

According to top government official, sales and purchase agreements in Ajman will incorporate certain clauses that will specify the role and jurisdiction of Ajman Real Estate Regulatory Agency (ARRA). Read the rest of this entry »

Al Barari, luxury residential real estate development located in New Dubai, is set to have around 500 apartments built during the second phase. The second phase of the project will also include a hotel, a spa and a cultural village. Read the rest of this entry »

Despite the global financial downturn, new housing units are set to enter the Dubai real estate market over the next 2 years. Approximately 32,000 new residential units were completed in 2008, bringing the total number of residential stock in Dubai to around 253,000. Read the rest of this entry »

Maersk Line of Denmark, the world’s largest container shipping company, said it will launch a new service connecting the port of Jebel Ali with the Mediterranean to cater to trade growth between Dubai and North Africa and Europe.

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The UAE will execute projects worth $918 billion (Dh3.36 trillion) in oil and gas, petrochemicals, real estate, industry and other sectors, according to the International Monetary Fund (IMF). Read the rest of this entry »

Dubai-based real estate developer Emaar Properties said its primary focus in 2009 will be to mitigate the negative impact of the global financial crisis by facing up to the new economic realities and identifying innovative strategies to sustain businesses in an unprecedented downturn. Read the rest of this entry »

Dubai-based real estate developer, Damac Properties with five property developments across Egypt, said it had entered into an alliance with the Housing and Development Bank of Egypt. Read the rest of this entry »

Dubai: Dubai’s Real Estate Regulatory Authority (Rera) will plot the progress of every single project underway in Dubai on their website starting next week.

"There will be a monthly report for every project in Dubai. We cannot compromise on transparency and trust of Dubai," Marwan Bin Galita, chief executive of Rera told local media yesterday. Read the rest of this entry »