Recent Real Estate News
'Nitaqat', reliance on expats forces construction halts in Saudi
Posted from AMEinfo.com | Real Estate 1 day 15 hours ago
Real Estate : Business
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 workers and ensuring jobs for Saudis, Saudi Gazette has reported. “Contracting companies are f... (original story)
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Louvre and Guggenheim expanding to UAE capital
Posted from AMEinfo.com | Real Estate 1 day 15 hours ago
Real Estate : Business
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 worth of projects were put on hold in Abu Dhabi while the government conducted the review. The emirate... (original story)
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Wealthy Iranians snap up Dubai homes as sanctions hurt at home
Posted from AMEinfo.com | Real Estate 1 day 15 hours ago
Real Estate : Business
Dubai-based realtors have reported a sharp rise in the number of wealthy Iranians buying luxury homes in the emirate recently, as increasing international sanctions bite in their home country, The National has reported. The number of enquiries from Iranians has increased 25% this month from the sam... (original story)
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DP World rises to two-month high, sells stake in UK's Tilbury Container Services
Posted from AMEinfo.com | Finance and E... 1 day 15 hours ago
Real Estate : Business
The FTSE NASDAQ Dubai UAE 20 Index closed 1.74% higher at 1451.91. Global maritime port operator DP World surged 3.10% to hit $10.98. Earlier in the day, DP World said it has sold all 34% of its shares in Tilbury Container Services Limited (operator of Tilbury Container Terminal in the United Kingdo... (original story)
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Lebanon real estate deals drop 12%
Posted from AMEinfo.com | Real Estate 1 day 15 hours ago
Real Estate : Business
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 transactions fell by $640m to $8.84bn in 2011, down from $9.48 billion in the previous year. However, the averag... (original story)
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Abu Dhabi real estate deals hit Dh42.9bn
Posted from AMEinfo.com | Real Estate 1 day 15 hours ago
Real Estate : Business
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, Dhs3.7bn involved land sales and Dhs39.1bn concerned mortgage transactions, the civic body said, without pr... (original story)
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Fuel price drop predicted in Lebanon following VAT cut approval
Posted from AMEinfo.com | Energy, Oil a... 1 day 15 hours ago
Real Estate : Business
Maroun Chammas head of Lebanon’s Association of Oil Importers has said prices of gasoil and diesel are expected to fall by as much as 10% once the parliament approves a recommendation to remove the VAT from this commodity, The Daily Star has reported. “The measure will help alleviate social cond... (original story)
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Commercial Bank of Qatar dips slightly, reports higher annual net profit
Posted from AMEinfo.com | Finance and E... 1 day 15 hours ago
Real Estate : Business
The Qatar Exchange gained 0.20% Thursday to reach 8,434.70 points. The country's second bank by assets Commercial Bank of Qatar or CBQ fell 1.50% to QR80.40. CBQ said it achieved a net profit of QR1.88bn in 2011, compared to QR1.63bn in 2010. Earnings per Share (EPS) amounted to QR7.71 compared to Q... (original story)
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Dubai market gauge knocks out 1,400-resistance, hits six-week high
Posted from AMEinfo.com | Finance and E... 1 day 15 hours ago
Real Estate : Business
After a tricky opening amid profit booking, the DFM General Index quickly regained momentum and eventually closed 0.70% higher at 1,405.82 points. DFM shares improved to Dhs80 (up 0.63%). Market bellwether Emaar could not follow and dipped 0.74%. Investment bank Shuaa Capital gained the most (up 3.3... (original story)
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Kuwait, Total in China refinery partnership
Posted from AMEinfo.com | Energy, Oil a... 1 day 15 hours ago
Real Estate : Business
Farouk Al-Zanki, CEO of Kuwait Petroleum Corp (KPC) has said the Gulf country Kuwait has selected French oil giant Total as the third partner to build a $9bn oil refinery in China, Bloomberg has reported. Total would take part of Kuwait’s 50% stake in the refining and chemical venture, while China... (original story)
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