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2007 News
March
Real Estate Companies Re-Evaluate Their Shares
Experts and analysts in the Egyptian Stock Exchange expect the shares of the real estate and housing sector to lead market activity and drive its indicators upwards.
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New Instructions for Real Estate Appraisal Procedures
The Mortgage Finance Authority issued new instructions for the organization of the appraisal process, in the view of the importance of this measure to the success of the real estate finance system and giving the investor funding commensurate with the real value of the property.
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New Facilities for Building Licenses in Cities and Villages
The Ministry of Housing and Utilities, the Authority for Technical Inspection on Construction and the International Finance Corporation, agreed to simplify construction licensing procedures as an important part of the process of revitalizing local investments and attracting regional and global investments.
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Dubai’s International Property Show 2007 To Feature Dh300b Tameer Portfolio
International Property Show 2007, scheduled to be held in Dubai is the biggest transactional real estate exhibition in the Middle East; it is set to feature the Dh300 billion project portfolio of platinum sponsor Tameer Holding, one of the UAE’s leading and most innovative real estate developers.
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Demand For Real Estate Financing for Improvement and Finishing
Mr. Ahmed Haggag, the Vice President of the Egyptian Arab Land Bank, revealed that during the current period there is a huge demand from individuals requesting funding for the improvement and finishing of units.
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Asteco Associates with Savills to Explore International Investment Options
Dubai-based Asteco, the largest real estate services company in the UAE, has entered into an association with Savills, the international property advisor, to explore cross border investment opportunities and harness its global network on behalf of Asteco’s clients.
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Residential City sold out
Phase one of Residential City, the housing component at Dubai World Central, has sold out.
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Residential City sold out
Phase one of Residential City, the housing component at Dubai World Central, has sold out.
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Cityscape Real Estate Awards To Recognize Excellence
In keeping with the Cityscape brand tradition, Cityscape Abu Dhabi 2007 will present the Cityscape Real Estate Awards, which will celebrate excellence in real estate development and investment in Dubai, UAE and across the Middle East by rewarding industry professionals for their outstanding achievements.
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UAE Banks, Real Estate Go-Ahead
The UAE Central Bank has given the green light to the country's banks to finance and manage real estate projects, as well as develop schemes, via joint ventures, reported Gulf News.
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Fire in Sheikh Zayed Rd tower
A fire has broken out in a tower being constructed close to Sheikh Zayed Road in Dubai and not far from the Emirates Towers.
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$1.6bn Rotating City for AD
Dubai's High Rise Real Estate has revealed plans to build a $1.6bn Rotating City on an island off of Abu Dhabi, reported Emirates Today.
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Real Estate and Investment Show Opens at Abu Dhabi’s New Exhibition Centre
The third annual Abu Dhabi Real Estate and Investment Show (IREIS) opens today (Wednesday March 21, 2007) in Abu Dhabi, showcasing regional real estate opportunities at the brand new Abu Dhabi National Exhibition Centre (ADNEC) from March 21 – 24, 2007.
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Middle East Retail Real Estate Industry Booming
The two-day Middle East Council of Shopping Centers (MECSC) convention started at the Dubai International Convention & Exhibition Center yesterday, attracting over 300 delegates from around the world, along with more than 40 exhibitors from the region and beyond.
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Land Prices in Egypt Exceed 150% of Real Value
Lands prices in some areas witnessed lately a sharp raise, which many claim are unjustified and illogical. These rises go back to mid-2006, which culminates with the end of the same year and the beginning of 2007.
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Establishment of Training Center for Employees in Land Registration Department to Simplify Procedures of Real Estate Registration
As a result of the Financial Services Project belief in the importance of the real estate registration system's role in the success of the mortgage financing industry, the Financial Services Project has collaborated with the Ministry of Justice and Land Registration Office and Documentation Department to establish and prepare an advanced training center
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دبي تنافس نفسها في ارتفاع الأبراج
يبدو أن دبي بدأت تنافس نفسها حيث يبدأ العمل في إنشاء بناية البرج في مدينة العرب في واجهة دبي البحرية
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Countdown to 2007 MECSC Annual Convention
The 2007 Middle East Council of Shopping Centres (MECSC) Annual Convention is set to open its doors on March 19th at the Dubai International Convention & Exhibition Centre, Hall 4.
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Broadening the Base of Support for Financed Units
It has been decided to expand the base of support provided by the Mortgage Finance Guarantee Fund for residential apartments to include residential units of a total value of L.E 75,000 instead of L.E 50,000 only.
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Investors Plough Money Back Into Gulf Countries
The total value of real estate projects in GCC countries represents 1.5 per cent of the global property market at $501 billion, according to commercial real estate services firm CB Richard Ellis.
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Waterfront Developments to Be Discussed At Cityscape Abu Dhabi 2007
The issues and challenges affecting waterfront developers and investors alike will be discussed by international experts during a 3-day Waterfront Development Conference being organized as part of Cityscape Abu Dhabi 2007, the premier real estate development and investment event scheduled to be held at the Abu Dhabi National Exhibition Centre from 8th to 10th May, 2007.
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500 Million Pounds to Start Financing the Purchase of Housing Units for Citizens
Mr. Fathy El Sebaay, President of the Housing and Development Bank and Egyptian Arab Land Bank, declared the start of granting a mortgage financing for citizens to purchase housing units.
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The Egyptian Center for Economic Studies Requests Postponing the Issuance of the Draft Tax Law on Real Estate
The Egyptian Center for Economic Studies requested the Ministry of Finance to review the methodology used in real estate inventory and appraisal.
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Arab Companies Accused of Disturbing the Property Market
A war has arisen concerning the hiring of employees in the Egyptian real estate sector, after the entrance of large Gulf companies
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Arab Companies Accused of Disturbing the Property Market
A war has arisen concerning the hiring of employees in the Egyptian real estate sector, after the entrance of large Gulf companies
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Electronic Newspaper for Egyptian Real Estate
The Ministry of Administrative Development finished its new project, known as "The Real Estate Electronic Newspaper,"
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Claims Against the Building Law Before The Housing Committee Of The Shura Council
The Housing and Utilities Committee of the Shura Council witnessed a sharp discussion on the formation of a committee to consider the appeals of the citizens regarding the new building law.
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Dubai Real Estate Institute Sparks International Interest
The Dubai Real Estate Institute (DREI), the first institution of its kind in the Middle East for real estate studies has attracted international interest with myriad academies seeking affiliation with the institute.
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Sorouh Allows Foreign Shareholders
Sorouh Real Estate has opened its share register to foreign buyers up to a limit of 20 per cent of its market capitalization. The move is just the latest in a series of measures to liberalize ownership in the Abu Dhabi real estate market.
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Numerous Facilities in the New Building Law
the draft law of the construction and urban planning will greatly facilitate the process of issuing construction licenses
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Markaz launches Markaz Real Estate Opportunities Fund
Kuwait Financial Centre S.A.K. 'Markaz', one of the Middle East's leading investment banking and asset management companies, announced the launching of Markaz Real Estate Opportunities Fund 'MREOF'.
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"Vito" On the Real Estate Property's Tax Draft Law
The seminar last week held by the Egyptian Center for Economic Studies, on the draft law of property tax prepared by the Ministry of Finance in order to address certain shortcomings in the current law...
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Training Banks' Employees on Exercising Mortgage
The Mortgage Finance Authority organized its second training workshop this week for the training of bank's employees on mortgage activities.
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The Issuance of the New Construction Law during the Current Parliamentary Session
Mr. Ahmed Al Maghraby, Minister of Housing, Utilities and Urban Development, assured that the Consolidate Construction Law will be issued during the current session of the Peoples' assembly,
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Kuwait Property Sales Down 28%
Property sales in Kuwait declined by 28% in January 2007
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