Monday 20 October 2014

Al Tijaria invests in $10m Turkey farmlands deal

Kuwait-based Al Tijaria Real Estate Company has entered into a new $10 million investment deal in Turkey. The investment, which was through a special purpose company in alliance with other investors, is aimed at buying and developing pre-targeted farmlands in an area of 10 millio


Damac opens luxury hotel in Dubai’s Burj Area

Leading real estate developer Damac Properties has opened a luxury serviced hotel featuring 211 deluxe suites in Burj Area, a popular shopping and tourism district in Dubai, UAE. Canal Views is the company’s second project in the area following the launch of Damac Maison &n


Saudis pump $879m into Dubai real estate

Saudis have emerged the second biggest investors in Dubai's property sector among the GCC states pumping Dh3.3 billion ($879 million) into the emirate's real estate during the first half, said an expert. The UAE nationals had sealed transaction deals worth $3.4 billion, a


Egyptian developer Sodic to invest $336m in 2015

Sodic, one of Egypt's largest listed real estate developers, plans to invest E£2.4 billion ($336 million) in 2015 and is on the look out for new projects as the sector recovers from three years of turmoil, its managing director said. Egypt's once-booming constructio


QInvest closes $1.8bn real estate deals in 2014

QInvest, a leading investment bank in Qatar, said it had closed real estate transactions worth $1.8 billion in 2014 amid a renewed investor interest in the GCC property market.   One of the most prominent Islamic financial institutions in the world, Qinvest said the transact


Dubai to launch Phase II of Water Canal

Dubai's Roads and Transport Authority (RTA) has announced plans to launch the second phase of the water canal project as the work on the traffic diversion at Al Wasl Road nears completion. The work under the Phase One of the main traffic diversion on Al Wasl Road near Safa Park wil


UAE firm wins Dubai City Walk supply contract

UAE-based Mac Al Gurg has been awarded a contract by Al Shafar General Contracting Company (ASGC), for the supply and installation of SieMatic Kitchens at the City Walk Project in Dubai, UAE. Mac Al Gurg is the local partner of SieMatic, a market leader in high-quality kitchens.


MMG's recovery plan gets board approval

Saudi contractor Mohammad Al Mojil Group's (MMG) board had approved a recovery plan that uses most of its existing capital base to pay off debts and new cash raised through a share issue, it said on Sunday. The firm, which got into difficulty after over-extending itself tryin


Dubai housing body deploys Xerox solutions

Mohammed Bin Rashid Housing Establishment (MRHE), the governmental body that provides housing services to the citizens of Dubai, UAE, has implemented the Managed Print Services (MPS) tools from Xerox Emirates, a market leader in technology, document management and consulting services.


Dubai residential rentals, sales price slow down

Dubai’s real estate sector witnessed further stabilisation and a slowing down of both rental rates and sales prices of apartments and villas in the third quarter, said a report. The downward trend continued for the third quarter in a row, stated real estate consultancy Aste

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