According to a new report by Jones Lang LaSalle, the world’s leading real estate investment and advisory firm, prices of real estate throughout the region are likely to continue to fall over the next 6-12 months even when there are signs of recovery in the Middle East and North Africa. Read the rest of this entry »
Muscat: Oil exports from are unaffected by the collision of two US Navy vessels in the Strait of Hormuz on Friday, its oil minister was quoted as saying on Saturday. Read the rest of this entry »
Dubai Industrial City, a member of Tatweer Dubai, has announced the grading work of its 167 million sq ft Phase-II real estate development is complete ahead of schedule, within a record time of 8 months. Read the rest of this entry »
According to experts, the global financial crisis have affected seven prime sectors of the GCC countries, i.e., dollar exchanges, bank operations, real estate development, tourism, oil production, public earnings and private income. Read the rest of this entry »
The economies of the six Gulf Cooperation Council (GCC) countries will reach an aggregate $2 trillion (Dh7.3 trillion) by 2020, according to a new report by the Economist Intelligence Unit (EIU). Read the rest of this entry »
Despite subdued opening of the world’s biggest travel fair in Berlin – ITB, the UAE is well placed to gain from the downturn in the long run. With access to over 30 million consumers in its own region, the UAE’s tourism industry should be well insulated from a tail-off in long haul passengers as Middle Eastern travelers choose to holiday closer to home. Read the rest of this entry »
DAMAC Properties, the largest private sector real estate developer in the UAE, is expected to sign contracts worth Dh2 billion for the construction of 10 new towers in Dubai. Read the rest of this entry »
Crunch time for small businesses in UAE
March 21, 2009 — Admin Real EstateMany have been turned away by the banks and have resorted to seeking other sources of financing
The credit crisis is bleeding Wayne’s pockets dry. The Indian expatriate, who started his public relations firm in Dubai about two years ago, has just laid off eight of his 12-man staff. Read the rest of this entry »