Breaking News section features all the latest news in the Dubai Property market around the world.
Dubai, Oman USD827m project
28 Mar 2005
Dubai Holding Group company, Dubai International Properties, has signed an agreement with the Government of Oman to develop an USD817m integrated luxury lifestyle resort in the neighbouring Sultanate. This follows the recent visit to Oman by Dubai Crown Prince General Sheikh Mohammed bin Rashid Al Maktoum. Property will be for sale to non-GCC nationals.
Pearl-Qatar, Phase 3 released
28 Mar 2005
The third phase of properties in the Porto Arabia on The Pearl-Qatar have gone on sale. The freehold properties range from one-bedroom apartments to four-bed townhouses set in a harbour with promenades, restaurants and shops. Visit, www.thepearlqatar.com
The Wave, site preparatio
28 Mar 2005
The site preparation work for The Wave, Oman's ambitious leisure and residential project, is to start in May, announced officials yesterday. Phase one comprises land reclamation and creation of an 18-hole PGA golf course utilising the project's 7.3km beachfront.
USD276m Riyadh cement plant
27 Mar 2005
The Riyadh Cement Company has inked an agreement with Sinoma International of China for construction of a USD276m cement plant to be commissioned within 26 months. The plant is located in Muzamiyah, 80km from the capital, and will produce 5,000 tonnes per day.
Emaar USD3.2bn Saudi projects
03 Mar 2005
Dubai-based Emaar Properties is developing projects totalling USD3.2bn in Saudi Arabia, as well as USD2bn worth of developments in India, chairman Mohammed Alabbar has announced. Emaar has also identified partners in Libya, Morocco and Egypt to build major mixed-use real estate developments.
Emaar releases new golf homes
02 Mar 2005
Emmar Properties has today released the Hattan III luxury villas at Emirates Golf Club and Mirador La Coleccion at Arabian Ranches next to the Desert Course. Both villa types offer a high-end specification but the architecture is Arabic and Mediterranean respectively. Previous launches have sold fast.
Dubai crackdown on con-artists
02 Mar 2005
Dubai is taking strong measures against con-artists hoping to exploit interest in the booming property market, and has jailed one scammer. Briton Maz Akhtar tricked investors by offering them fictitious properties in a Dubai investment project, the Seven Wonders of the World. Akhtar also sold non-existent European property, through his company HK Inversiones.
NBD Home Loans, 5.99p
01 Mar 2005
The National Bank of Dubai has introduced Home Loans with a limited introductory loan rate of 5.99 per cent. For a limited period only there is also free entry into the Dubai Duty Free raffle with the chance to win a luxury car. Visit, www.nbd.com.
Trump to video-link with Dubai
01 Mar 2005
New York's top property mogul Donald Trump is to be the keynote speaker at the Entrepreneurs in Dubai event which runs May 23-25 via video link. He is well known for his hit reality TV show The Apprentice which is to have a Middle East version starring Emaar Chairman Mohammed Ali Al Abbar and produced by LBC.
USD4.8bn Qatar, Bahrain causeway
28 Feb 2005
Construction of the USD4.8bn Friendship Causeway between Bahrain and Qatar was given the go-ahead at a meeting of the Joint Supreme Committee yesterday. The 40km double-lane causeway is scheduled to take four years and nine months to finish.
Gulf of Arabia, Dubailand
28 Feb 2005
Ilyas and Mustafa Galadari Group has announced the multi-billion dollar Gulf of Arabia project in the heart of the Dubailand theme park. It comprises four huge projects, the Mall of Arabia, Restless Planet, Wadi Walk and Elite Towers, linked by a monorail and waterways.
Al Areen Desert Resort, 90pc sold
27 Feb 2005
Bahrain has announced that 90 per cent of the Al Areen Desert Spa and Resort has been sold to local and international investors. The development company opened its headquarters in Manama yesterday and said the investors would be named shortly.
Lake Shore Towers in JLT
27 Feb 2005
The Lake Shore Towers development from Al Bodor has been launched in the Jumeirah Lake Towers district of New Dubai. Agents for freehold one to three bedroom apartments and penthouses is Better Homes. There are preferred rates for early bookings, and a 55 per cent payment on possession.
Wind III, Wind IV launch in Dubai
27 Feb 2005
The company behind the Wind I and Wind II towers in Dubai told Gulf News that both projects were sold out. The news came at the launch of Wind III, located in Iran near the Caspian Sea, and Wind IV in Dubailand. Construction of the first two projects has already started.
Bahrain, USD185m airport job
27 Feb 2005
Bahrain is about to start a USD185m airport expansion project and will appoint a consultant shortly, according to officials speaking after the opening of a USD25m new runway last week. However, this scale of spending is much below the present investment in airport infrastructure in Qatar, Riyadh and Dubai.
UP sell-out in hours
24 Feb 2005
Dubai based Union Properties received bookings for all villas and apartments in its Green Community West and Uptown Mirdiff developments within two hours of sales opening yesterday, even though prices have not yet been finalised, reported Gulf News. GCW has 580 villas and 270 apartments and is expected to be completed in 30 months, while UM has 97 villas and 395 apartments and is due for handover by Q3 this year.
Liberty House in DIFC
23 Feb 2005
Dubai based ETA Star Property Developers has launched sales of Liberty House, a freehold office and residential development in the Dubai International Financial Centre. It has two retail areas, eight floors of freehold offices and is offering 208 studios, 120 one-bedroom apartments and 44 two-bedroom apartments for sale.

Quay West sales open
23 Feb 2005

Emaar is now selling residential units at its 39-storey Quay West development, part of the Marina Quays project at the Dubai Marina. QW has a selection of one and two bedrooom apartments offering waterfront views and nearby mooring facilities. Sales are open at the Dubai Marina Sales Centre from Thursday, February 24, between 09:00-19:00.
Home Owner Dubai starts
23 Feb 2005
Home Owner Dubai 2005, to be held at the Madinat Arena, opens tomorrow, February 24. The three-day conference will bring together the big players in the local real estate sector including developers Emaar and Dubai Properties, and finance providers National Bank of Dubai and Amlak Finance. Opening times: for 24th and 26th, 10:00-18:00; for 25th, 14:00-20:00.
The Jewels launched
23 Feb 2005
Jade Development has launched The Jewels, its USD60m twin towers development located at the Dubai Marina, officials announced. The 20-story towers will have one, two and three-bedroom apartments, duplexes, penthouses and lofts.