business / International Real Estate
Arabtec says it has cushion to absord downturnThe chief financial officer of Arabtec Holding, the UAE's largest construction company, said he expects the company's more than Dhs43bn ($11.7bn) order book to help it cushion the impact of a downturn in Dubai's property industry. Ziad Makhzoumi told Bloomberg that the growth rate in Dubai will fall substantially in 2009 although it will not be negative. He added that Arabtec has 'no immediate plan' to cut its workforce as none of its projects have been delayed, although some future orders may be rescheduled or redesigned.
ameinfo.com Thursday, December 11, 2008Abu Dhabi property values to keep climbingA new report by Citigroup predicts that property values in Abu Dhabi will continue to rise in the short term despite the difficult financial conditions that are slowing down the UAE property sector. Unlike Dubai, demand in Abu Dhabi still outstrips supply for all segments of the property sector, the report noted. In addition, Abu Dhabi is able to finance and ultimately purchase all of its current projects in progress, said Citigroup.
ameinfo.com Thursday, December 11, 2008Aldar, Sorouh rated as 'buy'Citigroup has initiated coverage with a 'buy' and medium risk rating for Aldar Properties and Sorouh
real estate, both of which are based in Abu Dhabi and owned by the emirate. The target price for Aldar was pegged at Dhs16.6 and Dhs5.6 for Sorouh. Citigroup noted that both companies have substantial funding requirements in order to realise the full value of their land banks, but it believes that the flexibility of their business models substantially mitigate this risk.
ameinfo.com Thursday, December 11, 2008Golfing in Mexico Making Property AttractiveThe lure of a lush green golf course in sunny climate can help attract overseas property buyers and no doubt adds to value of any new property development. These marketing techniques can be seen from new Mexican property developments in the Yucatan Peninsula.
Those who are looking to the Yucatan Peninsula of Mexico as a place for a holiday home or retirement villa have much to look forward to. In addition to the low costs and great weather are now some wonderful golf courses. Located primarily around Cancun, on the eastern edge of the region, there is also a very nice 18-hole course in Merida for those who have discovered the charms of this destination.
homesgofast.com Thursday, December 11, 2008Denmark Property On The RiseDenmark Property On The Rise
Scandinavian countries are consistently hailed as having the best quality of life in Europe, an accolade which has turned their property markets into hotspots. One of these countries is Denmark, and it has much to offer the prospective buyer.
homesgofast.com Thursday, December 11, 2008Eygpt & Saudi Arabia LinkedTwo new high speed ferries have just arrived and will dramatically improve service on the Red Sea between Egypt and Saudi Arabia. The two Austral built 88 meter catamarans can carry both passengers and vehicles and will run between Dibba in Saudi Arabia and Safaga in Egypt. King Abdullah bin Abdulaziz Al Saud and the Egyptian President Mohammed Hosni Mubarak marked the occasion with a ceremony for the Riyadh and the Cairo.
homesgofast.com Thursday, December 11, 2008Thailand's The Village Wins AwardsThe Village Coconut Island in Thailand won two awards at the recent Homes Overseas Awards, which were presented in London at the end of November. Coconut Island is just 650 meters off the east coast of Phuket, which is Thailands vacation destination. This new development has won a number of awards in its short existence and is truly Phukets ultimate tropical retreat
homesgofast.com Thursday, December 11, 2008Christmas in Natal BrazilNatal Brazil, which translates as Christmas, takes this holiday very seriously. Residents go to extra lengths to make sure that Natal no Natal (Christmas in Natal in Portuguese) is a special celebration. While there are some similarities to the holiday in the UK, the biggest difference is the weather. Theres no chance of snow on Christmas Day in Natal. In fact the average December temperature is a searing 26ºC (versus a paltry 7ºC in London) because in Natal, this is just the start of summer.
homesgofast.com Thursday, December 11, 2008Pound Falls to New Low Against EuroThe UK pound fell to a new low against the euro in recent trading, ending up at one point at 1.1391. The fall was pushed by a selloff the currency as fears of a long recession drove traders and speculators. The pound has sunk nearly 20% against the euro in the past year as UK and is also down by more than 25% against the dollar since the summer. It was trading at $1.48 at one point compared to a recent peak of $2.11 earlier in the year
homesgofast.com Thursday, December 11, 2008Euro Now More Attractive To PolandIt seems that the global crisis has made the Euro more attractive to the Polish government with the Polands Prime Minister Donald Tusk confirming his position that the country will be ready to integrate the euro into the country in 2012. The polish zloty has dropped 23 percent against the euro from a record high set in July, and is headed for its first annual retreat since 2003
homesgofast.com Thursday, December 11, 2008 1 2
Archived international real estate news stories.
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