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business / International Real Estate

Dubai issues new payment rule
Dubai's real estate Regulatory Agency (Rera) has issued a new rule which says developers can collect no more than 20% of the cost of a property from a buyer until construction begins, reported Emirates Business. 'We have sent out letters to 100 developers - as well as having meetings with them and lending banks and institutions - telling them to take payments from buyers worth only up to 20% of the contract value,' Essa Saeed Ahmed Al Mansoori, Head of the Trust Accounts Section at Rera's Real Estate Development Trust Account Department, told the daily. Rera has set up an 11-member Real Estate Development Trust Account Department that will supervise and monitor the construction process and ensure the escrow amounts are collected in accordance with the agreed schedule. "We have sent out letters to 100 developers - as well as having meetings with them and lending banks and institutions - telling them to take payments from buyers worth only up to 20 per cent of the
ameinfo.com Wednesday, December 31, 2008

Kuwait's property sector to rebound by H2 in 2009, says expert
Kuwait's real estate sector will recover from its current slump by the second half of 2009, a leading local economist told Kuwait News Agency (KUNA). Adnan al-Haddad, chief executive of Group Gulf, said the country's real estate had declined between 30-40% in the last two months. However, the market was bound to regain its strength once the signs of recovery in oil prices and the stock market and the rebound from the global economy start, possibly in the second half of the year 2009, he said.
ameinfo.com Wednesday, December 31, 2008

Chris Hoy Invests in Brazil
British Olympic gold medal cyclist Chris Hoy is buying a property along the beach in Brazil, which he plans to use as his off-season training base. The three-time Beijing gold medalist has a new villa in the Laguna Beach development in Tabatinga. This resort town is just outside of Natal, making it easy to get to and a perfect place for winter riding. It is on the waterfront and offers spectacular views of the ocean.
homesgofast.com Wednesday, December 31, 2008

Celebrity Holidays in the Caribbean
With winter upon us, it’s time to spot some stars on vacation in the Caribbean. Daniel Craig and his American girlfriend have been seen on the beach in St. Barts, while Lily Allen and her mum have been having some fun in the sun on Jamaica.
homesgofast.com Wednesday, December 31, 2008


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