2007 News
June
Dubai realty major enters into joint venture with urban planning giant
Greenwich, Terry Farrell & Partners’ most famous urban planning projects KM Properties, Dubai’s leading real estate developer with a vast portfolio of residential, commercial and freehold properties, has entered into a strategic joint venture with international urban planning experts, Terry Farrell & Partners, as the company enters into a period of rapid expansion.
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Dubai International Financial Center enacts series of real estate laws
The Dubai International Financial Center (DIFC), multi-diversified investment house with interests in real estate, has announced that a series of property laws, which will govern the sale, resale, lending on and leasing of real estate within the DIFC free zone, will be effective with immediate effect.
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DIFC freehold land ownership laws enacted
Following public consultation the Real Property (DIFC Law No.4 of 2007) and Strata Title (DIFC Law No.5 of 2007), as well as Regulations complementing these laws, have been enacted by the Ruler of Dubai, His Highness Sheikh Mohammed Bin Rashid Al Maktoum.
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Skewed’ supply poses cheap housing challenge Published
The GCC region faces a challenge to meet the demand for low-income housing because supply is “skewed” towards wealthy foreigners, a Merrill Lynch report warns.
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