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Dubai land deals jump 47.5% in 2008
The value of the total land transactions in Dubai shot up 47.5% to Dhs70.2bn ($19.1bn) last year from Dhs47.6bn in 2007, Gulf News has reportd, citing figures from Dubai land department. A total of 5,837 transactions were recorded in 2008, up from 3,997 transactions in 2007. The most land activities were seen last May, with Dhs11.6 billion spread over 793 transactions.
ameinfo.com Wednesday, January 07, 2009

Dubai Properties denies merger rumours
Dubai Properties said it has no plans to merge with Sama Dubai, a sister concern and a subsidiary of Dubai Holding, reported Emirates Today, citing an interview with Mohamed Binbrek, Group chief executive Officer, Dubai Properties Group. He said the company is 'building synergy' within Dubai Holding, but 'no merger has happened nor has there been any talk of it'.
ameinfo.com Wednesday, January 07, 2009

Jordan apartment prices drop 10%
Prices of apartments in Jordan fell by 10% in the last quarter of 2008 due to a decline in construction costs and land prices, the Jordan Times reported, citing the President of the Housing Investors Society. Demand last year was below forecasts because of declining purchasing power which forced many construction companies to cut down on their activities, the Amman-based newspaper cited Zuhair Omari as saying.
ameinfo.com Wednesday, January 07, 2009

Tanmiyat says it has no plans to lay off workers
Saudi-based Tanmiyat Group has announced that all of its projects will be going ahead and that it has no plans to lay off any of its employees. The investment and real estate development company is confident that it is progressing on a positive path despite the current market slump, according to senior company officials. Tanmiyat Group's projects in the Middle East real estate sector include the Living Legends in Dubailand, the Commercial Heights project in Dubai's Business Bay and the $3bn Ajman Marina development.
ameinfo.com Wednesday, January 07, 2009

Ajman establishes real estate regulator
The UAE emirate of Ajman has established a new real estate regulator for its fast-growing property sector. The Ajman government on Tuesday amended a law creating the Ajman Real Estate Regulatory Establishment. The regulator will be tasked with drawing up policies for property projects and commercial buildings, recommending legislation as well as regulating the relations between property developers and buyers, news agency WAM reported.
ameinfo.com Wednesday, January 07, 2009

Nakheel notches milestone at Waterfront
Dubai-based developer Nakheel said it has cast the raft foundations for two of its 132kV substations at its Waterfront development after six months of detailed design and engineering. A total of 1,700 tonnes of concrete and 170 tonnes of reinforced steel were used to complete the foundations. Nakheel's Waterfront Electrical Infrastructure team is managing the construction of the substations which will eventually be handed over to DEWA for operation.
ameinfo.com Wednesday, January 07, 2009


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