Dubai resort The Atlantis stages most expensive launch party ever
The 15 million extravaganza was the most spectacular - and the most expensive - launch party in history.

More than 2,000 guests attended the event on the man-made Palm Jumeirah island in the Persian Gulf. Robert De Niro, Janet Jackson, Denzel Washington and Lindsay Lohan were... Read More

Race to Dubai draws a wealth of talent to the European Tour
On the eve of the HSBC Champions tournament in Shanghai, the first event of the 13-month "Race to Dubai" that carries a $20 million (about 12.5 million) prize fund at the season-ending Dubai World Championship next November, the organisation's main backer, Leisurecorp, claimed yester... Read More

"Stunning" properties on offer in Dubai
Dubai is appealing to a growing number of British investors due to the number of high-quality properties being built in the emirate.

This is according to Shelter Offshore, which states that Dubai contains "some stunning and superior properties for sale that have been built to ... Read More

EIB Enters into Agreement with RERA
With the ongoing unprecedented real estate boom in the UAE, Emirates Islamic Bank (EIB) has entered into a strategic agreement with Dubai's Real Estate Regulatory Authority (RERA).

According to the agreement, Emirates Islamic Bank will utilise RERA's expansive network of marke... Read More

Nakheel prepares to greet legendary liner''s arrival
Dubai''s master-developer Nakheel, which is set to take over the operations and management of the luxury liner Queen Elizabeth 2, said on Sunday excited preparations are underway for the arrival of the world''s best loved ocean liner.

The ship left Southampton last week on her... Read More

UAE ranked top in prosperity index
The UAE is ranked the most prosperous GCC country and the second most prosperous country in the Middle East by the Legatum Prosperity Index for 2008.

The country ranks 28th among the 104 countries surveyed in the Legatum index which goes beyond GDP in its assessment of nationa... Read More

Britain''s Brown arrives in Saudi Arabia for Gulf tour
British Prime Minister Gordon Brown arrived in Saudi Arabia on Saturday at the start of a tour of Gulf states to ask for aid for countries hit by economic turmoil.

Brown was met by Saudi Foreign Minister Prince Saud Al Faisal at Riyadh airport. He was later holding dinner and ... Read More

Celeb Chef Jamie Oliver's First Course For Dubai
British TV chef Jamie Oliver has signed a deal to open two new restaurants in residential Jumeirah Golf Estates project in Dubai.

The businesses, an Italian and a barbecue-inspired eatery, will both be included in the Water neighbourhood of the development and developed through... Read More

Tennis Star Boris'' Smashing Plan For UAE
Tennis legend Boris Becker has served up plans for a major new tennis academy for the UAE.

The AED 3 billion tennis academy will be created in partnership with Dubai-based ACI Real Estate  in the UAE emirate of Ras Al Khaimah.

The former Wimbledon champion will hol... Read More

Dubai Group Bid for Charlton
A Dubai based business consortium is bidding to take over veteran English soccer team Charlton Athletic. Zabeel Investments is the latest group from the Middle East region to attempt to step into the UK soccer world.

Zabeel had been looking at an opportunity to invest in a lead... Read More

Dubai developer launches 54bn Jumeirah Gardens scheme
Meraas Development unveils tower-led gardens development in Dubai. Dubai-based developer Meraas has unveiled the $95bn (54bn) Jumeirah Gardens scheme. Its crowning feature will be Dubai 1, already being boasted as "one of the tallest and largest buildings in the world" and an immedia... Read More

Dubai Investors Being Lined Up For Wembley?
Dubai investors are being lined up to share in the revamp of legendary UK landmark Wembley Stadium!

The move was revealed by heads of the Quintain Estates company, the organisation that is undertaking a vast regeneration scheme for the area. Deputy chief executive Nick Shattoc... Read More

Dubai developer builds women-only office tower
A Middle Eastern developer is building a female-only tower for commercial use in Dubai''s Business Bay area.

The project, named Eve''s Tower, will be a 20-storey building in which only women can rent or own office space. Men will, however, be allowed to work inside the buildin... Read More

Dubai Property Prices Soar
House prices in Dubai soared by a staggering 76 per cent during the first half of this year!

The astonishing growth came as a result of rampant inflation and a booming economy which saw property prices house prices in Dubai rocket in the period up to join new figures reveal. Y... Read More

Sky's The Limit For New Dubai Tower!
Dubai developer Nakheel is set to reach for the sky...with plans to build the world's tallest tower! The plans mean that the ever changing skyline of Dubai will have a new landmark thanks to Nakheel's plans to build the world''s tallest building, that will dwarf even the existing record... Read More

Dubai Mortgage Giants To Merge
Two of Dubai's mortgage lending giants are set to merge. Amlak Finance and Tamweel, Dubai''s two leading Islamic mortgage lenders, have begun "exploratory discussions"  over a possible merger which could be completed next year.

 Negotiations will be monitored by Gold... Read More

Dubai Construction Firm Aims to Build ''New City''
A Dubai government firm aims to shrug off the effects of the current global financial crisis... by announcing plans to build an entirely 'new city' in the emirate!

The mixed-use Jumeirah Gardens development  is to be built by  Meraas Development  at a cost of ... Read More

Bollywood Star Debuts in Property Scene
Bollywood superstar Shah Rukh Khan is developing a property in the UAE.

His first project, in association with TSA International Investments, will be a cluster of buildings on Al Dana Island in Ras Al Khaimah, one of the UAE's seven emirates.

The development is called... Read More

Michelin Stars Fall on Atlantis, The Palm as Four Renowned Chefs Debut Restaurants in Dubai
The long awaited opening of the luxurious Atlantis Hotel at The Palm, is set to bring with it the latest batch of international super chefs and fine dining to Dubai.

Four restaurants from four internationally renowned chefs will launch  at Atlantis, The Palm , aiming to m... Read More

Sevens Tickets Finally Go On Sale
The wait is finally over! Tickets for this year's Emirates Airline Dubai Rugby Sevens, which takes place from November 27-29th, go on sale on October 6.

Organisers have urged those planning to attend the event, which always proves to be one of the city's best social and sporti... Read More

UAE Expat Numbers to Swell
The number of expats pouring into the UAE is set to swell next year! New official figures reveal that the ratio of foreign to local population in the UAE is expected to widen in the future because of a rapid growth in expats.

The country''s total population was estimated at ar... Read More

New Island Resort for Dubai
Dubai based developer Limitless is to create a $350mn, 10.5 hectare luxury resort on a manmade island 14 kilometres off the Dubai coastline,

Comprising 53 villas and water homes, including 23 privately-owned villas offered for sale by invitation, World Island Resort, on the no... Read More

UK, US slowdowns, boost Dubai market
The slowdown in the propery market in Europe and the US has boosted Dubai'' market, Yaqoob Al Zarouni, deputy chief executive officer of Dubai Properties, told. He said slowdowns that have occurred in the rest of the world have worked in Dubai''s favour because ''investors are always ... Read More

Housing Shortage Pushes Up Dubai House Prices
Property prices in Dubai have risen as much as 10 percent more than expected this year due to the continued lack of housing supply in the market.
The new findings were published in the latest report from Egyptian investment bank EFG-Hermes which claimed that  report residentia... Read More

Property market may take hit from bank crisis
Gulf investors are worried about the possibility that the recent US and international mortgage and credit risk problems will affect the real estate market in the region, an official at the Arab Administrative Development Organization told Reuters. Rafat Abdelhalim Alfieri, ARADO''s d... Read More

DSC Releases Final Building of Waterfront
Dubai Sports City, the world's first integrated sports city, will release the fifth and final building of its signature Mediterranean-style real estate development - Canal Residence West - at Cityscape Dubai 2008.

Canal Residence West is set along the waterway in the heart of ... Read More

Non-oil sector accounts for 64% of UAE''s GDP
The UAE''s non-oil sector contributed to 64.3% of the country''s total gross domestic product, which grew 7.4% in 2007 to Dh698 ($190bn), reported Khaleej Times. Sultan bin Saeed Al Mansouri, UAE Minister of Economy, said the economic policy of the government led to an increase in eco... Read More

Credit crunch may hit UAE property firms
The credit crunch could hurt developers in the UAE, slowing expansion plans, Abu Dhabi-based Sorouh Real Estate chief executive Mounir Haider said.
The emirate''s number two developer by market value said he was unsure whether property stocks, that have fallen sharply recently, hav... Read More

Sorouh to Supply 7000-10,000 Housing Units in 3-5 years
The demand for housing in Abu Dhabi is still high due to limited supply and the emirate will require 100,000 units to meet demand of rising population, said Mounir Haider, CEO of Sorouh Real Estate.

"The demand is not going to wane in the short term, as the emirate's economy i... Read More

UAE property market shows rapid growth
The UAE boasts 365 days of sunshine, reliable economic and population growth, a booming tourism industry and massive demand for rental properties. For prospective buyers those factors, when added together, make for a very tempting package.

But what should be making investors s... Read More

Sorouh confident current turmoil will not affect its Dh50b portfolio
Sorouh Real Estate''s portfolio is currently valued at more than Dh50 billion, according to the CEO of the Abu Dhabi-based property developer. "This includes Lulu Island in our portfolio," said Mounir D. Haidar. Haidar said he expects the UAE markets to bounce back after the collapse ... Read More

UAE emirate issues re regulations
Only UAE and GCC nationals will be allowed to hold licence for real estate offices in the emirate of Ras Al Khaimah, according to the resolution no 32 for 2008 on executive regulations of real estate agencies issued by H.H. Sheikh Saud bin Saqr Al Qasimi, Crown Prince and Deputy Ruler... Read More

Schon keeps investors on old payment schedule
Dubai-based developer Schon Properties says payment rescheduling is not under consideration for the Dubai Lagoon project, despite comments by an official from the emirate''s Real Estate Regulatory Agency on a local radio station, reported 7DAYS. The Rera official told the station that... Read More

Dubai Properties awards $544m contract
Dubai Properties has awarded a $544m contract to Dubai Civil Engineering to build 800 villas in Dubailand, Meed has reported. The project involves the construction of luxury villas and two types of townhouses. The local Arch Group is the consultant for the project which is the latest ... Read More

GCC to propose monetary council
The GCC will propose establishing a monetary council after the region''s plan to adopt a single currency is ratified by three national parliaments, reported Bloomberg. Nasser Al Kaud, deputy assistant general for economic affairs at the GCC Secretariat, said the plan will be put forwa... Read More

The Met shows live opera in Dubai
The Dubai Event Management Corporation has entered into a one-year partnership with New York''s Metropolitan Opera to show ten operas during the 2008-09 season of The Met: Live in HD. The performances are shown live in high-definition and transmitted into m... Read More

EGSI unveils Dhs4.5bn Le Stelle
EGSI Group of The Al Barakah Group of companies has unveiled its Dhs4.5bn Le Stelle project in Majan-Mizin, Dubailand. The development will consist of Iconic Five Towers, with over 2.2m sqft of land. The towers were named Sirio, Orione, Vega, Fenice and Electra, and will have interio... Read More

Rera assures Plantation investors
Dubai''s Real Estate Regulatory Authority (Rera) has assured investors of compensation for the Plantation Equestrian and Polo Club after land for the project was repossessed by Dubai Islamic Bank due to payment default by the project''s developer, Gulf News has reported. The project i... Read More

Premier Inn to develop hotels in RAK and Umm Al Quwain
Dubai: Premier Inn, the British budget hotel chain that has a partnership with Emirates in the region, has secured sites in Ras Al Khaimah and Umm Al Quwain for developing hotels.

It already has sites at Dubai Investments Park, Dubai Silicon Oasis, Dubai International Airport ... Read More

Capitala Launches Rihan Heights
The Abu Dhabi-based real estate company Capitala has launched the sales of Rihan Height, a residential project, the first phase of Arzanah, its flagship development.

The project comprises 14 exclusive villas carefully planned around the plot and five residential towers with ov... Read More

Ferragamo to design penthouses in Dubai
Italian luxury goods maker Salvatore Ferragamo is to design the interior of several luxury penthouses in the ''Pentominium'' tower in Dubai as part of an agreement with real estate firm Trident International Holdings, reported Reuters. The tower, which will be more than 500 meters hig... Read More

Gulf property market still attractive
The Gulf property market has attractive opportunities for investors seeking to escape a global fall in property investment transactions, a leading real estate consultancy said.

Robin Williamson, managing director of DTZ''s Middle East operations, said although the worst of th... Read More

The Oryx Corporation Scoops 5 Highly Prestigious Property Awards
The results of the CNBC Arabian Property Awards 2008 have just been revealed and ORYX CORPORATION is delighted to announce that it has won no less than five awards in the categories of:

- Best Golf Development for Lime Tree Valley
- Best Property -  W27, Emirates Hills... Read More

Dubai Palm monorail trains handed over
Four three-car trains for the Palm monorail in Dubai were handed over to developer Nakheel in a ceremony at Hitachi''s Kasado plant in Tokuyama on August 21.

Construction of the 545 km straddle monorail was completed last month, and members of Nakheel''s operations and mainte... Read More

Tiger Woods Dubai phase 1 work on track
The first phase of the $1.1bn Tiger Woods Dubai residential golf development is on track and is due to be completed in September next year.

The Tiger Woods Dubai is a private residential community located over an area of 55 million sq ft.being developed by Tatweer, one of the r... Read More

Amlak Finance offers new financing scheme for residents and expats
Dubai: Amlak Finance PJSC, real estate financier in the Middle East, announced the official launch of ''Amlak Plus'', which is designed to tap into a new segment of customers in the UAE market by offering new and improved benefits than the normal home finance products, while enhancing... Read More

Government shows ''strong will'' to check speculative investment
The government of Dubai is showing a strong political will in warding off speculative investment and sustain growth in the property sector, with developers and analysts welcoming it although they say it is not enough to deter short-term speculation. To start with, the Dubai Land Depar... Read More

UAE mortgage market will triple in three years
Dubai: The UAE''s mortgage market will leap from Dh20 billion by the end of this year to reach Dh64 billion over the next three years, according to a recent market study.

Real estate company Bonyan International Investment Group (Holding) said Sharia-compliant house financing ... Read More

Tiger Woods master plan unveiled
Tatweer and Tiger Woods have unveiled the master plan for The Tiger Woods Dubai, the exclusive residential golf community. The project will encompass Al Ruwaya, the first golf course designed by Tiger Woods, which will offer only 200 memberships with residents of the community being g... Read More

Dubai home prices climb 40%
Dubai property prices jumped by about 40% in July compared to the same period last year, according to a report by Al Mal Capital cited by The National. The report said residential prices have seen a year-on-year appreciation of 40%, reaching the median price of Dhs1,831 (US$498) per ... Read More

Affordable housing still severely lacking
As prices of property in Dubai continue to escalate, it is becoming increasingly challenging for people living here to take that all important first step on the property ladder. While some have managed to make a tidy sum from real estate investments here, those who haven''t yet been a... Read More

Dusit launches first branded residence in Dubai
Bangkok-based Thai hospitality chain Dusit International will unveil its first branded residence outside Thailand, with the soft opening of Dusit Residence Dubai Marina.

The 35-storey landmark tower will contain a total of 146 premier serviced residences, overlooking the lifes... Read More

Al Rashed launches $978m towers in Ajman
Al Rashed Real Estate has launched its Dh3.6 billion ($978.2 million) freehold commercial and residential towers in Ajman.

The company said it has also joined hands with Alternative Capital Invest, whose marketing expertise it plans to utilise in strengthening its high-end real... Read More

Dubai to stand tall with 3,000 towers
Dubai: Roughly 3,000 towers (both mid- and high-rise) are in various stages of planning, design, development and construction in Dubai between now and 2025.

Dubai World Central (DWC) could have about 1,100 apartment towers in its residential cluster and 850 in the commercial z... Read More

UAE''s Arabtec to construct Dh1.6b Bawadi project
(MENAFN - Khaleej Times) Arabtec Construction LLC received a letter of acceptance valued at Dh1.6 billion from Emaar-Bawadi Joint Venture to design and construct 1437 villas as part of the Bawadi project in Dubailand. The project will be delivered in phases over a period of 37 months... Read More

Dubai Investments launches Dh2b Mirdiff Hills
(MENAFN - Khaleej Times) Dubai Investments (DI) launched Mirdiff Hills - an Dh2 billion mixed-use development in Dubai - through its real estate arm Dubai Investments Real Estate Company (DIRC).

In a Press statement issued here yesterday, Khalid Kalban, Managing Director and C... Read More