Thursday 30 July 2015

New home ‘top priority for UAE investors’

Buying a new home is number one priority for 25 per cent of investors in the UAE, followed by starting or investing in a new business venture (21 per cent) and retirement (13 per cent), a report said. The Franklin Templeton Global Investor Sentiment Survey which polled over 11,50


Shurooq to develop major tourist attraction in Sharjah

The Sharjah Investment and Development Authority (Shurooq) plans to develop a major tourist attraction in the Dibba Al Hisn region of the emirate. Overlooking the Indian Ocean, Al Hisn Island will feature a water canal, a string of restaurants and cafes as well as a movie theatre , kid


Lulu in deal to build $170m hotel in London

Abu Dhabi-based Lulu Group International has partnered with London developer Galliard Homes in a £110 million ($170.5 million) agreement to create a 92,000-sq-ft five-star hotel at Great Scotland Yard in the UK capital. The hotel refurbished Edwardian building was the locat


Dubai residential rents drop 3pc during Q2

Residential rents in Dubai, UAE, declined by 3 per cent in the second quarter of the year in the face of 6,750 new housing units that were delivered during the period, a report said. The new supply of homes took the total Dubai residential stock to 479,000 units, according to the


Addis Ababa - Djibouti railway nears completion

The Addis Ababa (Ethiopia) - Djibouti Railway project is nearing completion and will begin operation in early 2016, a report said. The railway project is expected to contribute significantly towards industrialisation and structural transformation of the region. Chi


Tata Housing opens office in Dubai

Tata Housing, one of the fastest growing real estate companies in India, has opened its international office in Dubai, UAE to meet the growing demand from consumers in the region. This office will further strengthen its global presence, in addition to existing international offic


UAE nuclear power plant unit 74pc complete

Construction of the Barakah Nuclear Power Plant in Abu Dhabi, UAE, is now well under way with about 74 per cent of the work on Unit 1 now complete. Emirates Nuclear Energy Corporation's (Enec) first 1,400 MW Unit is scheduled for completion in 2017. The plant w


Saudi builder Al-Khodari Q2 net profit surges

Saudi Arabian builder Abdullah Abdul Mohsin Al-Khodari Sons on Sunday said its second-quarter net profit more than quadrupled as it sold some equipment and margins improved. The company made a profit of SR34.9 million ($9.31 million) in the three months to June 30, up from SR7.9


Tecom, Amlak offer financing for Villa Lantana homes

UAE’s Tecom Investments has signed an agreement with Amlak Finance, to offer Shari’a compliant financing options via its Amlak Tatweer programme to all purchasers of freehold Villa Lantana homes in Dubai. Amlak, the UAE’s first specialised real estate finance pr


Car parks plan for vacant land plots

Unused plots of land in some of Bahrain’s most congested areas could soon be hired out on a monthly basis for use as car parks, a report said. The Capital Trustees Board is already compiling a list of empty plots in areas such as Seef and Juffair, prior to negotiating lease

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