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NEW YORK, Feb 17 (Reuters) – U.S. homebuilder sentiment climbed in February but held tightly near all-time lows, suggesting sales of new single-family homes would be meager as long as foreclosures flood the market, the National Association of Home Builders said on Tuesday. Read the rest of this entry »

By Al Yoon

NEW YORK, Feb 24 (Reuters) – Prices of U.S. single-family homes plunged 18.5 percent in December from a year earlier as the monthly pace accelerated, according to a Standard & Poor’s/Case-Shiller home price index released on Tuesday. Read the rest of this entry »

According to the International Monetary Fund (IMF), Qatar’s economy will grow by 29% in 2009, the fastest rate in more than a decade, as natural gas production almost doubles. The state is also expected to maintain budget and current account surpluses. Read the rest of this entry »

AECO Development, the construction joint venture responsible for delivering the first phase of a new waterfront city in Oman, has said that work was on schedule for delivery in 2010. Al Madina A’Zarqa’s first phase involves the completion of a housing and welfare village to accommodate about 9,000 construction workers and managers. Read the rest of this entry »

If you’re looking to buy an investment condo at a great price in Florida, you just might want to get your loan application nailed down and in before January 15th.

Why? Because that’s the cutoff date when Fannie Mae toughens its policies on condo properties in the Sunshine state — potentially putting a damper on investors who are bottom fishing for bank foreclosures and short sales. Read the rest of this entry »

Selling a home in a declining market starts with a proper attitude and finding the right Realtor® who is optimistic and knows the right sales techniques in this tough market. Even though most people and economists are down on the housing market (feel it is depressed, that the economic recovery isn’t going to happen in the next few months, and consumer confidence is down), it doesn’t mean that you can’t sell your home. Read the rest of this entry »

Chinese bargain hunters are preparing to descend on American cities such as Los Angeles and San Francisco, where homeowners have suffered some of the steepest price falls in the US.

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RIYADH: Two leading architects Norman Foster and Zaha Hadid have been lined up to take on one of the most high-profile projects on earth – the redevelopment of Mecca. Read the rest of this entry »

Monthly Rent
Cheapest: Charlotte, N.C.
$666
Priciest: New York, N.Y.
$3,500

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WASHINGTON: For $49 million you can buy a piece of American history and have the most important man in the world as your neighbour! Evermay estate, which is situated in the heart of Georgetown, Washington DC, is up for sale. Read the rest of this entry »

In an increasing tough financial world hammered by the global credit crisis, more property developers are turning to Islamic financial instruments to get projects off the ground, say organisers of the Islamic finance industry’s leading global event. Read the rest of this entry »

September’s plunge in U.S. home construction heralds not only a near-term consolidation of the industry, but also changes to business and building practices.

Single-family home starts in the Midwest, Northeast and West all registered their lowest paces since records started being kept in 1959, according to Commerce Department data. Read the rest of this entry »

Leading US shares were volatile, after figures showed a sharper-than-expected fall in the construction of new homes.

The Dow Jones industrial average fell some 200 points in early trade before climbing 183.98 points at 9,163.24, helped by rising oil stocks.

European share indexes have fluctuated wildly all week, but closed near their highs for the day. Read the rest of this entry »

Cemex SAB, one of the world’s largest building materials companies, reported that profits in the 3rd quarter plunged 74 percent due to a downturn in its major markets and the nationalization of its Venezuela operations.

Profits fell to $200 million from $780 million in the same period of 2007, the Monterrey-based company said Wednesday in its quarterly earnings report. Read the rest of this entry »

Property prices are unlikely to bounce back to their peak August 2007 levels until 2023, it has been claimed.

Conditions in the UK housing market will get "a lot worse" before prices start to pick up again, according to the academic Andrew Clare. The professor of asset management at Cass Business School said negative equity is likely to pose problems for homeowners who bought their properties last summer.

According to the Guardian, Mr Clare believes that by 2010, prices will be 40 percent below where they were in August last year, when they reached their peak. He also believes they are unlikely to return to such levels until at least 2023. Read the rest of this entry »

The Department of Municipal Affairs (DMA) has signed a Memorandum of Understanding (MoU) with International Code Council (ICC), the world’s leading building code authority and developers of the International Codes. The MoU covers services with the DMA that include the adoption of the International Building Code (IBC) and laying the foundation for the development of the Abu Dhabi IBC that will guide the development of construction and real estate projects in Abu Dhabi.

HE Dr. Ju’an Salem Al Dhaheri, Chairman, DMA, said, "This is an important step to enhance construction standards in Abu Dhabi and safeguard the long-term security of the emirate’s population." Read the rest of this entry »

In a recently conducted survey by DSL Exhibitions, organizers of the R&R Local Property Show due to be held at the Dubai Crowne Plaza from October 16-18, 2008, results demonstrate a growing sense of belonging towards the UAE among those who have bought property in the country. In contrast, the respondents who have not yet invested in real estate in the region feel less at home here. Staggering 78% of property owners feel a sense of belonging about their adopted country. Read the rest of this entry »

The fate of one of the strongest property markets in the world hangs in the balance as Wall Street stalwarts crumble and job losses loom over the Big Apple.

The days of skyrocketing rents and high sales prices on everything real estate from office buildings to condos are over in New York as the credit crisis chills the city’s lifeblood: the financial services industry.

"It doesn’t look pretty," said Barry Gosin, chief executive of commercial real estate services firm Newmark Knight Frank. "There’s a downturn on Wall Street and jobs will be lost. The question is, how many jobs?"

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The blonde goddess in the flowing white dress plucked serenely at her golden harp, oblivious to the teeming flow of humanity around her. Her presence on the stand of Ferragamo penthouses in the inventively named Pentominium tower was doubtless intended to emphasise their classiness, but, like most things in these parts, the show was really all about the numbers.

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Most stock markets in the Gulf states, which suffered heavy losses this week, rose at start of trading on Thursday following a round of interest rate cuts.

Shares in Kuwait, Dubai and Oman made strong gains, although Abu Dhabi remained in the red.

The Saudi stock market, the largest in the Arab world, was closed on Thursday.
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Dubai, UAE, 5 October 2008 -  CapitaLand, the Asian real estate developer of Raffles City Bahrain, today announced that sales of residential apartments in the integrated waterfront development located in the prime Bahrain Bay area will be opened to the public at Cityscape Dubai on 6 October 2008.

Private sales of the residential apartments in Raffles City Bahrain had enjoyed a very strong response when conducted in June this year.  About 80%, or 101 units, of the total 124 available units for sale were booked within three weeks of the private sales launch.  The average sale price had touched an unprecedented level for the Kingdom at BD1,750 per square metre.  This is testament to the prime location, distinctive building design and quality of Raffles City Bahrain, as well as an endorsement of the CapitaLand real estate delivery track record.
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Portfolio already includes KOP Capital, Emirates Cement, Bharat Hotels, Time Broadband Television, Sun Hung Kai Financial, GBD Investment Limited, Chiranjjeevi Wind Energy, and Emirates International Telecommunications.

Dubai Group, the diversified financial services company of Dubai Holding, said that it intends to acquire up to 18 per cent stake in Citigold Corporation. The placement will make Dubai Group a strategic investor on Citigold’s share register.

The investment, which was made through its subsidiary Dubai Ventures Group, marks Dubai Group’s entry into the Australian market. Read the rest of this entry »

The UAE Central Bank has set up a Dhs50bn ($13.6bn) emergency lending facility for banks to help lessen the credit crisis that threatens to slow a number of important infrastructure and real estate projects in the country. The central bank said it expects that these funds would meet banks needs for supporting continued financing of economic growth.

Humberts, one of the finest names in the UK property industry, has announced the first stage in the company’s international growth.  Humberts is opening the company’s first international offices, in Dubai and Abu Dhabi in 2008.   Walter Hart, a respected local property expert has been appointed as managing director of Humberts International LLC.
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One Bayfront Plaza, a real estate project in Miami, is poised to be the tallest tower in the city at 1,049 ft. Florida East Coast Realty, Inc. (FECR) has announced that the site activity is underway at One Bayfront Plaza, a 70-story mixed-use tower. The towers will be located in downtown Miami at 100 South Biscayne Blvd. directly across from Bayfront Park and one block from the entrance to I-95, and will overlook Biscayne Bay and the park.
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