Dubai: Dubai Islamic mortgage provider Tamweel said on Thursday it made a Dh40.76 million net loss in the first quarter as income from properties held for sale slumped and it took provisions. Read the rest of this entry »
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The Economic Committee formed by the UAE and Italy is meeting on Monday the 24th of November. Officials from ministries of Economy, Foreign Trade, Foreign Affairs, Health, Works, Water, Higher Education, Scientific Research and Education from both countries are participating in the meetings. Read the rest of this entry »
One of the biggest countries in the Middle East, the Sultanate of Oman holds tremendous potential in terms of trade, industrial growth and of course, real estate. As a result of a long maritime history and interaction with various cultures, Oman can rightfully claim that it is the friendliest country in the Gulf basin. Today, Oman is one of the fastest growing economies in the Gulf, thanks to prudent government planning, responsible expenditure as well as heavy investment in the non-oil sector. 
Database analysis by The Hotel Show research partner Proleads shows that, led by development in the United Arab Emirates, spending across the GCC on hotel and resort fit-outs, including furniture and fixtures, electrical, kitchen and laundry equipment, sanitary and light fittings and garbage disposal systems, is on track to hit a cumulative total in excess of $37 billion between now through to 2010. 
Abu Dhabi National Exhibition Centre (ADNEC), designed by award-winning architects RMJM, has won Construction Week’s 2008 "Project of the Year" Award. The Gulf’s largest exhibition venue illustrates ADNEC’s commitment to providing the city with world-class facilities for business and its bold plans for the future development of Abu Dhabi as a commercial destination. 
As part of its strategic plans to expand operations to Abu Dhabi, Imdaad – the Dubai World company that delivers integrated facility management services will take part in the Working Building Middle East Conference to be held at the on November 17-18, 2008. The participation underlines Imdaad’s commitment to promote overall development of the facility management industry in the region, which is on the threshold of major growth. 
Star Cement Co LLC, a leading player in manufacturing and trading cement in the Middle East, will invest $200 million in a high-tech clinkerisation-manufacturing unit in Ras Al Khaimah to produce clinker at 6,500 tonnes per day. The facility is based in an area spread over 404286 sq m and is part of the Dubai-based $5.69 billion conglomerate ETA Ascon Star Group. 
Profile Group, a leading UAE-based international property developer, has announced the launch of Tejarah Executive, a commercial tower located in Marmooka City, Ajman. The tower to be delivered in a joint venture with Moosa Group Enterprises will be promoted by UK boxing sensation, Amir Khan. 
Aqaar LLC, one of the leading real estate and property development companies based in Ajman, has broken ground on Phase 2 of its maiden project Ajman One, a fully integrated business and hospitality complex in Ajman. The Dh75 million enabling work contract has been awarded to Ajman-based Piling Tech. 
Marina West, Bahrain’s first gated beachfront residential property development, will be the Platinum Sponsor of the "Property Arabia 2008" – Middle East International Property & Investment Exhibition – to be held from October 29 until November 1, 2008 at Bahrain International Convention Centre. Marina West will display the property development at the exhibition. 
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. 
Credit conditions for real estate projects are worsening and the viability of some developments needs to be re-examined, the head of Dubai Islamic Bank (DIB) said on Sunday. The days of cheap money are gone, be prepared to pay more, Khalid Al Kamda said at a real estate conference. DIB is one of the Gulf’s biggest lenders and a key player in the massive developments in the UAE. Real estate will suffer; big real estate projects will be revisited. put on the back burner, he said. The viability of these real estate projects will need to be revisited.