Property consultancy, CB Richard Ellis has said the lack of clarity on the three-year UAE real estate investor visa is not encouraging investor influx and the market is still to feel the full impact ...
UAE economy set to grow 4%
The UAE economy is forecast to grow by at least four per cent in 2012, Economy Minister Sultan Al Mansouri said on Thursday.
UAE can export oil if Iran closes Hormuz
The UAE will be able to use ports on the Gulf of Oman for oil exports if Iran closes the Strait of Hormuz, transit point for about a fifth of the ...
?963,000 bonus for RBS boss sparks debate
A £963,000 bonus for the boss of a taxpayer-funded bank was attacked as "out of touch" by Labour, as a government minister claimed he ...
Former aviation chief denies insider trading
Former civil aviation chief Albert Lam Kwong-yu pleaded not guilty to insider trading yesterday over a trade in which he made HK$79,000.
Key Tamkeen workshop focuses on excellence
As part of its commitment to strengthening its strategy and enhancing its performance to better serve the public, Tamkeen's senior management took ...
Australian Banks Cut Loan Exposure to Europe
The worsening eurozone debt crisis has prompted Australian banks to be more aggressive in cutting their exposure to the embattled continent.
Private home prices continue to moderate for 9th straight quarter
The rate of private housing price increase has continued to moderate for nine consecutive quarters, the Urban Redevelopment ...
Govt should consider new taxes - union boss
The Government is being urged to be consider new taxes to increase revenue and use caution in its plans to cut spending in order to keep its ...
The number of real estate transactions in Lebanon has seen a 12.02% decline last year to 82,984, compared with 94,320 transactions in 2010, The Daily Star has reported. The total value of ...
Several Saudi contracting firms have been forced to turn down huge public and private sector projects in the Eastern Province, due to the ?Nitaqat? system that aims at reducing reliance on expatriate ...
According to the Abu Dhabi Municipality, the total volume of property transactions recorded in the capital last year has exceeded Dhs42.9bn ($11.6bn), The National has reported. Of that total, ...
Abu Dhabi has unveiled plans to resume suspended real-estate projects including branches of the Louvre and Guggenheim museums after reviewing their viability, Bloomberg has reported. At least $30bn ...
GCC sukuk issue triples despite global turmoil
The issuance of sukuk (Islamic bonds) in Gulf hydrocarbon producers nearly tripled in 2011 despite the global downturn.
Emaar Middle East, a subsidiary of Emaar Properties PJSC, is showcasing its flagship lifestyle community developments in Saudi Arabia at a special roadshow and sales event to be held from January 19 ...
King Abdullah Economic City (KAEC), announced a lease- agreement with the Saudi Airlines Catering (SAC) and handed over an Industrial land plot at the Industrial Valley for the establishment of it?s ...
King Abdullah Economic City (KAEC), announced a lease- agreement with the Saudi Airlines Catering (SAC) and handed over an industrial land plot at the Industrial Valley for the establishment of it?s ...
Saudi, Turkey talks to thrash out Sabic dumping claims
Saudi Arabia and Turkey are in talks over a claim that Saudi Basic Industries Corp, the world’s largest petrochemical maker.
Saudi fiscal surplus to widen in 2012
Saudi Arabia’s fiscal surplus could rocket by more than seven times in 2012 as revenue will likely be far higher than the level projected by the ...
Banks report 'normal' business after four years of decline, survey finds
The level of business in the financial services was regarded as "normal" in the last three months of 2011 ...
Alex Salmond in battle with David Cameron over Scottish referendum
David Cameron is to take a high-stakes gamble with the union this week by telling the Scottish first minister, Alex Salmond, ...
According to a survey conducted by the Oman?s Public Authority for Consumer Protection, steel prices in the country rose again at distribution points in Muscat Governorate since the start of this ...
Nakheel said it has negotiated so far contractor claims worth Dhs1bn ($272.24m) and hopes to issue the second tranche of its sukuk within the next six months, Reuters has reported. "So far we have ...
UAE-based property services firm, Asteco has said a group of completed projects adding thousands of homes to the market will force housing prices and rents to continue its decline in the country next ...
The Bahraini housing ministry has signed a BD208m ($551.6m) Public Private Partnership (PPP) agreement with real estate developer, Nassej to build more than 4,000 affordable homes within three years. ...
Dubai-based Emaar Properties expects the emirate?s property market to record positive growth in 2012 across all sectors, Zawya Dow Jones has reported. The company said it will continue to focus on ...
The Dubai Mall achieved a record-smashing year in 2011 to become the world?s most-visited shopping and leisure destination, welcoming more than 54 million visitors in 2011. The number of visitors in ...
Dubai Mall-Metro link to open by 2013
A project has been launched to build a 820-metre-long link that directly connects Burj Khalifa/The Dubai Mall with the nearby metro station by ...
Abu Dhabi airport marks 30 years
Abu Dhabi International Airport, which is undergoing a Dh25 billion redevelopment plan, has handled 126 million passengers in 30 years since its inauguration ...
UAE National ID card application and renewal can now be done online
Residents who apply for national ID cards online using a credit card will be able to save the Dh30 typing fee.
Going green will weigh on fees at new-look HOS flats
Owners of new Home Ownership Scheme flats may have to pay more in management fees because of new and green designs.
Pan-democrat rivals stake out home turf
Would-be chief executive candidates Albert Ho Chun-yan and Frederick Fung Kin-kee clashed over the "hegemony" of developers in the first ...
Oman?s economy shows robust growth in 2011
The national economy showed robust growth in spite of the severity of the international financial and economic crisis that affected most of the ...
Dubai realty in recovery mode with sales rising 20% in 2011
The Dubai Land Department has revealed that sales of land and property rose 20 per cent in 2011.
Aldar fears fade after $4.6bn Abu Dhabi bailout
Aldar Properties Islamic bonds rallied the most in eight months after the developer got AED16.8bn ($4.6bn) from the Abu Dhabi government.
The Dubai Mall, the flagship development of Emaar Malls Group and the world?s largest shopping and entertainment destination, has launched a project to build a 820-metre long pedestrian link that ...
Abu Dhabi registers 893 firms
The Abu Dhabi Department of Economic Development (ADDED) registered 893 new construction firms under 42 categories last year.
Eida says ?register now? for ID cards
The Emirates Identity Authority (Eida) recently launched a campaign to spread the importance of registering for the Emirates Identity Cards among ...
NMC opens $10.6m Sehla facility
A first-of-its-kind automobile service centre has opened in Bahrain. Customers at the brand new BD4 million ($10.6m), 9,000 sqm National Motor Company (NMC) ...
Govt allots a third of 2012 budget for MDGs
The Aquino administration has set aside at least a third of this year’s budget for poverty reduction and social services sectors to meet key ...
House buyers forced to wait as listings plunge
House listings have plunged in the past month and would-be buyers are being forced to wait around for suitable properties to come on the market.
ODB Board okays loan worth RO 3m for various projects
As part of its endeavours to finance the development projects and advance the economic development in the country, the Board of Directors ...
Jeddah Municipality has selected US-based consultancy firm, Parsons to manage the construction of major infrastructure projects in the city, Saudi Gazette has reported. Under the three-year contract, ...
A property glut would drive rents down by 25% in prime areas of the Omani capital, Muscat, as thousands of new accommodations are expected to be completed in the summer of 2012, Times of Oman has ...
Emaar, The Economic City (EEC), a Tadawul-listed company developing King Abdullah Economic City (KAEC), announced the signing of a freehold land contract with Tamer Group for the purchase of 500,000 ...
Emaar, The Economic City (EEC), a Tadawul-listed company developing King Abdullah Economic City (KAEC), announced the signing of a freehold land contract with Tamer Group for the purchase of 500,000 ...
Dubai Metro operator acquires Mubadala subsidiary
Dubai Metro operator Serco has bought facilities management firm JBI Properties Services Company from Mubadala Development Company, the ...
UK commuters 'pay more for trains'
Some UK rail commuters, facing 6% average fare rises next week, are already paying almost 10 times more for their season tickets than their European ...
CBI says business must stop relying on UK consumers and focus on exports
Britain urgently needs to rebalance its flagging economy away from dependence on domestic demand by ramping up exports ...
Leung homes in on fixing housing policy
Chief executive candidate Leung Chun- ying yesterday unveiled an 18-point housing policy. That includes allowing up to 5,000 households a year to buy ...
$2.2bn budget surplus in 10 months
Oman’s budget surplus reached RO 830.1 million ($2.2 billion) at the end of October, data from finance ministry showed yesterday.
ICBC begins two-day bond sale to bolster capital
Industrial & Commercial Bank of China Ltd (ICBC), the world's biggest commercial bank by market value.
PH gets $500M for reconstruction efforts in Sendong-hit areas
The World Bank on Friday said it released $500 million to help the Philippine government's recovery and reconstruction efforts in ...
Proposal to end power subsidy, slab benefits
The Planning Commission has proposed withdrawal of power tariff subsidy for consumers using more than 100 units of electricity per month.
Aldar Properties has announced the government of Abu Dhabi has agreed to buy assets valued at Dhs16.8bn ($4.57bn) from, to boost the company?s finances, Bloomberg has reported. The government will ...
Union Development Co (UDC), the developer behind the man-made Pearl island project, has said it negotiating with a state pension fund to make a strategic investment in the developer, Reuters has ...
Dubai?s property regulator has said Nakheel has no right to deny residents of the palm-shaped island access to communal facilities by turning them into exclusive clubs, Bloomberg has reported. ...
Abu Dhabi rescues Aldar with Dh16.8b
The Abu Dhabi government yesterday came to the rescue of the emirate's biggest property developer, Aldar Properties PJSC, with a Dh16.8 billion lifeline ...
Delays expected in Eida card delivery
Delays can be expected in the delivery of Emirates ID cards to residents who have completed registration procedures in November and December.
Labour mission 'to defeat despair'
Labour leader Ed Miliband is urging his party to show they can "make a difference" at a time when the challenges facing the country are the ...
Bahrain market key for Honda GCC operations
Bahrain has proved to be a very aggressive and resilient market and vehicle sales have not been affected due to the recent crisis.
Massive hike in gas tariff from January 1
Amid an acute shortage of natural gas across the country, triggering public protests in various areas, the government decided.
Markets slide on dismal imports data
Philippine share prices on Wednesday tumbled for the second consecutive session on the back of mixed indicators from the United States and disappointing ...
Saudi-based Savola Group has said it is to sell its 80% stake in a property firm to Knowledge Economic City, Reuters has reported. The sale of the stake in Al-Mujamaat United Company for Real Estate ...
Contract registration rule will only apply to tenants in Dubai
Registration of residential and commercial rental contracts with the Dubai Land Department through Ejari system is mandatory ...
GCC economies to slow down in 2012
The economies of Gulf hydrocarbon producers are projected to race by nearly seven per cent in 2011 but growth could tumble to nearly half that rate because ...
Unemployment 'set to rise in 2012'
Unemployment will increase to 2.85 million in 2012, while the number of people in work will fall by 120,000 as jobs continue to be lost in the public sector.
The Iranian and Syrian governments are in talks over a mega project which includes building 50,000 residential units in Syria, Fars news has reported. The two countries are trying to reach a ...
Gulf Arab economies to slow in 2012, analysts say
Economic growth is likely to slow in most of the Gulf's wealthy oil exporters next year but governments will remain able to spend to counter ...
Saudi unemployment benefit may hinder Nitaqat scheme
Plans to introduce a monthly unemployment allowance for more than 700,000 men and women in Saudi Arabia could hinder the Kingdom’s ...
Etihad Airways signs $1b deal with technology firm Sabre
In its second big deal this week Etihad Airways signed a 10-year contract with aviation computer technology provider Sabre Airline ...
Egypt's Orascom Construction Industries (OCI) has been awarded an $810m contract for work on the Egyptian Grand Museum in a joint venture with BESIX Group, Reuters has reported. Located on the ...
Office space market crash feared
Thousands of square metres of new office space due to come online in Riyadh over the next two years has raised fears of an office market crash after 2012.
OPEC heads for highest income in 51 years
A surge in oil prices and output will likely lift OPEC’s crude export earnings this year to their highest level since the cartel was created 51 ...
UAE and Britain agree to initiate joint highway project in Afghanistan
HH Sheikh Abdullah bin Zayed Al Nahyan, Foreign Minister of the United Arab Emirates, today hosted William Hague MP, ...
Consumer confidence falls to post-recession low
British households are at their gloomiest since the recession, according to a report released on Wednesday that will send further shockwaves ...
BFX trading turnover posts steady growth
The Bahrain Financial Exchange (BFX) has seen steady growth in its trading turnover and the successful completion of four weeks of trading on its ...
Analysts Forecast 2 More Interest Rate Cuts in 2012
Analysts forecast two more overnight cash rate cuts by the Reserve Bank of Australia (RBA). By how much will the cut be and when will it be ...
LBS Bina bullish on meeting sales target
Property developer, LBS Bina Group Bhd, is confident of achieving RM800 million sales target despite tough market conditions.
Egypt's largest listed company, Orascom Construction Industries (OCI) has said it would redeem bonds worth EGP1.65bn ($274m) early, as part of a debt refinancing package for its fully-owned ...
The regulatory arm of Dubai Land Department (DLD), the Real Estate Regulatory Authority (RERA) has issued warnings to 23 real estate brokerage companies for violations committed through their ...
Emaar Properties PJSC has signed a new Islamic and Conventional financing facility amounting to Dhs3.6bn (approximately $1bn) with Dubai Islamic Bank PJSC, National Bank of Abu Dhabi and Standard ...
The Dubai Land Department (DLD) has introduced two initiatives, Tayseer and Tanmia, to revive and support the real estate market in the emirate, Gulf News has reported. Tayseer aims to support ...
$150b investments likely in Saudi petrochemicals
Saudi Arabia's petrochemical industry will have attracted $150 billion (Dh551 billion) in total cumulative investments by 2016.
UAE, Qatar fail to net emerging market upgrade
Index provider MSCI on Wednesday maintained the United Arab Emirates and Qatar as frontier markets, once again delaying a much-awaited promotion ...
UAE following 'good' nuclear safety standards, say experts
The UAE, aiming to be the first Gulf Arab nation to develop nuclear power, is following “good” safety standards as it ...
Andrew Lansley orders independent assessments of NHS boards
Andrew Lansley, the health secretary, has ordered "independent assessments" of the boards of NHS trusts after a powerful ...
Emaar Middle East has announced the first homes in its landmark Jeddah Gate development are set to be handed over soon, Arab News has reported. Spread over a plot area of 12,300 sq m, Abraj Al Hilal ...
UK-based architecture and building design firm, Capita Symonds has unveiled the design plans for a new SR117m mixed-use development on the east coast of Saudi Arabia. Designed for a private client, ...
Abu Dhabi-based developer, Aldar Properties has awarded Jacobs Engineering a contract to provide project management support services during construction for the new Yas Mall at Yas Island in Abu ...
High land prices crimp plans for low-cost homes
The GCC’s rising land prices are hurting government drives to tackle chronic affordable housing shortfalls and deterring developers from ...
UAE ranked 5th worldwide for efficiency in government spending
The UAE was ranked fifth in the world in terms of efficiency of government spending in the 2011-2012 Global Competitiveness ...
Construction labour costs fall 8.6%
The cost of construction labour in Abu Dhabi fell 8.6 per cent in November from the previous month, Statistics Centre - Abu Dhabi (SCAD).
'Big society' project lacks clarity and leadership, say MPs
David Cameron's "big society" project is confusing the civil service, charities and the public because it lacks a clear ...
