Thursday 29 January 2015
 
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Housing

13,000 new housing units to hit Dubai market

More than 50 projects were launched in the off-plan market across Dubai, UAE, during 2014, which are expected to deliver over 13,000 units to the market, according to a report. The last quarter of 2014 saw new inventory being rele

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Assystem acquires Saudi engineering company

Assystem, an international engineering and innovation consultancy based in Paris, France, has announced the acquisition of a 75 per cent stake in Saudi engineering company Radicon Gulf Consult (Radicon). The rest of the shares in Radico

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Saudi Arabia plans to tax undeveloped land

Saudi Arabia's housing ministry is moving to tax undeveloped land, official media quoted the housing minister as saying, in a policy that could help to end a shortage of homes and spur economic growth. Much urban land in the k

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Abu Dhabi fund completes Kabul housing project

Abu Dhabi Fund for Development (ADFD) said that construction work has been completed at its $167-million residential housing development in Kabul, Afghanistan, and was set for hand over in July. The work is under way to complete t

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Bahrain to build five new towns

Bahrain is pushing ahead with plans to build five new towns, Housing Minister Bassem Al Hamer told the Shura Council yesterday (January 11). There are currently 47,000 families on social housing waiting lists, which authorities ha

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Housing prices in Saudi Arabia to plunge 30pc

The housing prices in Saud Arabia will drop about 30 per cent due to falling oil prices, distribution of more low-cost homes and the imposition of Zakat on vacant land, said a report. Real estate developers and owners are facing p

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Saudi housing projects to gain from low oil prices

Saudi Arabia’s Ministry of Housing projects are set to gain from lower oil prices leading to a decline of 25 per cent in costs incurred by customers, according to a report. Businessmen pointed out that service projects have

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Saudi Arabia to see rise in housing prices

The house prices in Saudi Arabia are expected to rise further on the back of high demand for homes and a slow rollout of developments, according to a new report. The housing requirements will continue to outstrip supply even as ne

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Saudi 2015 budget expected to raise spending marginally

Saudi Arabia's 2015 state budget is expected to raise spending marginally from this year's original plan while covering a deficit due to sliding oil prices with the kingdom's huge fiscal reserves, a Saudi newspaper reported on Tuesda

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Sewage dispute talks in Bahraini development under way

Negotiations are under way to resolve a financial dispute that threatened to result in a luxury housing development in Bahrain being swamped with overflowing sewage. A Dubai-based company that operates a water treatment centre for

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