2008 News
April
Why The Gulf Building Boom Can't Afford To Stop Spinning
Kippreport.Com
April 30, 2008
For a booming housing industry fueled by impressive demand, the biggest challenges come from within.
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Real Estate Trade Soars 44pc to $1.42bn
Gulf Daily News
April 30, 2008
MANAMA: The volume of traded real estate properties soared by 44 per cent to BD537.13 million ($1.42 billion) during the first quarter, up from BD237.61m during the same period last year, according to Survey and Land Registration Bureau.
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Hilton to Bring New Brands to Middle East
Emirates Business 24/7
30 April, 2008
With forward bookings up by a third in the region, Hilton Hotels is riding high. Times are almost embarrassingly good for hoteliers in the Gulf. Owning a hotel these days is a license to print money with record occupancy and room rates.
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The Marbella of The Middle East
FDI Magzine
30 April, 2008
Dr Priyan P. Khakhar ponders why a location that should, on the face of it, be considered a risky investment proposition manages to maintain a booming, buoyant property market.
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Bahrain's Real Estate Sector Grows 44% in Q1
MenaFN.com
30 April, 2008
(MENAFN) In a statement published by Bahrain's Survey and Land Registration Bureau, the kingdom's volume of traded real estate properties soared by 44 percent to $1.42 billion from January through March 2008, Gulf Daily News reported.
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Khatib and Alami to Design $200m West Bank Real Estate Project
MEED
30 April, 2008
Khatib & Alami has been appointed to draw up the masterplan for a $200m real estate development in the West Bank.
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Marco: Jumeirah to Have 60 Properties by 2012
Times of Oman
29 April, 2008
DUBAI: He ventured into the world of hospitality when he was just 16-and-a-half, carrying luggage and answering phones at a small seaside resort in Holland. From there on, Marco Nijhof made life listen to his terms.
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Sovereign Wealth Funds Eyeing More Real Estate
GlobeSt.com
29 April, 2008
LONDON-Sovereign Wealth Funds, the stealth factor in the investment world, are channeling more capital than ever before into commercial real estate in their search for opportunistic investments beyond Western financial markets.
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Morocco Recommended to Investors
Ready To Invest
April 29, 2008
Overseas property investors have been advised to consider purchasing a residence in Morocco.
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Foreign Buyers Snap Up Moroccan Property
Ready To Invest
April 29, 2008
A growing number of foreign property buyers are choosing to enter the Moroccan housing market, according to a media report.
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Growth in Morocco Creates Investment Potential
Ready To Invest
April 29, 2008
Morocco's continuing expansion could make it a good option for foreign property investors to consider, a media outlet has stated.
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Libya, Dubai Agree On $3 bln Investment Fund
Reuters
April 7, 2008
TRIPOLI (Reuters) - Libya and Dubai have reached an agreement to set up a $3 billion joint investment fund to finance projects in Libya and the United Arab Emirates, Libyan officials said on Monday.
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Markaz Sees Huge Investment Potential in Algeria
Arab Times
April 29, 2008
KUWAIT CITY : Kuwait Financial Centre ‘Markaz’ in its study on the real estate and construction sectors in Algeria, anticipates significant returns in the residential, hospitality and tourism sectors supported by the growth in economy led by rising oil prices. Growth in the sectors has been further supported by factors such as the growing population dominated by youth; strong government support; and rising tourism. Some of the gains channeled from high oil prices and current account surplus are being channeled towards building infrastructure facilities. Currently, all the segments of the Algerian real estate market residential, commercial, industrial, and retail – are experiencing strong demand. The residential segment currently has a shortage of 1 million housing units. The actual demand for housing is estimated to range between 250,000 and 300,000 units a year, going forward. Supply, however, is expected at approximately 130,000 housing units a year.
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Firm Posts $18m Profit
Gulf Daily News
28 April, 2008
MANAMA: Real estate firm First Bahrain earned a net profit of $17.7 million last year, a 29 per cent increase over the same period in 2006.
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PropertyLink Conference Opens May 12 in Jordan
MenaFN.Com
April 28, 2008
(MENAFN - Jordan Times) Twenty-one experts, officials and top executives from the real estate industry will be gathering May12-13 to address various issues related to the sector and predict future trends in this booming industry.
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RealCAPITA Launches $579m Morocco Project
Gulf Daily News
April 27, 2008
MANAMA: Bahrain-based RealCAPITA has announced the groundbreaking of a new 370 million euro ($579m) project in the Moroccan city of Berrechid on the suburbs of Casa Blanca.
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ActiveMania Predicts Regional ‘Connected, Smart Real Estate’ Market to Top USD 3.25 billion By 2010
AlBawaba.Com
April 27, 2008
ActiveMania, the leading provider of smart technologies for the Real estate Market, expects the ‘smart home, building and office’ market in the GCC to exceed USD 3.25 billion by 2010, based on the increasing demand for highly advanced home automation technologies from local and regional developers. With aims to maximise the growing popularity of ‘smart homes’ in the country, ActiveMania is participating at The Install exhibition - one of three vertically integrated shows under PALME Middle East 2008, which opened today (April 27, 2008) at the Pavilion Hall of the Dubai International Exhibition Centre (DIEC). The event will serve as the launch pad for ActiveMania’s all new aimobi 403, a new system that operates via remote access through 3G connectivity, which the company is showcasing at its Stand (B38) in Hall 8.
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Luxury and Display
ArabianBusiness.Com
April 27, 2008
Whether commercial or residential, bathrooms and kitchens have undergone great change in the last decade or so.
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Analysis: Investors Turning to Property as Hedge Against Hyper-Inflation
Business Intelligence
April 27, 2008
INTERNATIONAL. Inflation has touched record high levels. It will soar past the 7% mark in the GCC this year pulling up with it prices of food, essential commodities and manufactured goods. For those that remember the damaging effects of hyper-inflation from the 1970s, there are some very important lessons from that period that investors would do well to observe.
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RealCapita Breaks Ground for BD370m Project in Morocco
MenaFN.com
27 April, 2008
(MENAFN - Bahrain Tribune) RealCapita, a Bahrain-based real estate investment firm, has announced the groundbreaking of its project in Berrechid on the suburbs of Casa Blanca near the King Mohammed V International Airport.
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ActiveMania: smart real estate market in ME to top
MenaFN.Com
Sunday, April 27, 2008
(MENAFN Press) ActiveMania, the leading provider of smart technologies for the Real estate Market, expects the 'smart home, building and office' market in the GCC to exceed USD 3.25 billion by 2010.
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GCC Funds Among World's Best Performers in 2007 - By Lipper Reuters
Arab Times
April 27, 2008
Introduction
* Funds registered for sale in the GCC increased 19.26% in 2007.
* Equity funds were by far the best performers, recording a 26.40% return. Mixed-asset funds gained 19.02%, real estate progressed 13.36%, and bond funds rose 9.94%.
* Sector funds such as utilities and basic industries and country-focused funds such as Equity China and Equity India delivered the strongest returns. The worst performing funds in 2007 were European real estate funds and Japanese small- and mid-cap funds.
* However, the Equity, Mixed-Asset Aggressive, Mixed-Asset Flexible, and Mixed-Asset Balanced fund categories all decreased heavily in January 2008, losing 11.62%, 8.40%, 8.38%, and 7.10%, respectively. The performance for the last six months was at the edge of a loss.
* INR-denominated bond funds were by far the best performers within the bond category in 2007; Bond INR General ended the year with a 21.56% return, and Bond INR Government registered a 19.79% return.
* Lipper�s Islamic equity fund index ended the year with a 43.16% return, while the Islamic money market fund index rose 5.84%.
* Assets under management of GCC-domiciled funds stood at US$40 billion at the end of 2007.
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Tabtabaei Hails Law Preventing Trading in Private Homes
Arab Times
April 27, 2008
KUWAIT CITY : The Kuwait International Property Show (KIPS) kicked off Monday at Kuwait Inter-national Fair Grounds, Mishref. The four-day exhibition, which is being held under the patronage of Minister of Finance and Minister of Commerce and Industry Mustafa Al-Shamali, will continue until April 18th. The opening ceremony was attended by Undersecretary at the Minister of Commerce and Industry Rasheed Al-Tabtabaei, ambassadors of Qatar, United Arab Emirates (UAE), Jordan and Bahrain besides pressmen. Speaking on the occasion, Al-Tabtabaei said he very happy to see such a large number of real estate companies from both Kuwait and outside participating in the exhibition, organized by Top Expo Group.
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Multi-billion Dollar Developments in Mid East Announced at MECSC Annual Convention
AME Info
26 April, 2008
Last week business leaders from the Retail Real Estate sector converged on Dubai for the 13th Annual Middle East Council of Shopping Centres convention.
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Property Expos Lined Up
Gulf Daily News
25 April, 2008
MANAMA: Bahrain will host twin exhibitions - Property Arabia and The Worldwide Property Show - next month. The events, taking place at the Bahrain International Exhibition Centre from May 28 to 31, are organised by the Bahrain-based Arabian Exhibition Management and Dubai Shows Limited.
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The Perfect Location
ArabianBusiness.com
25 April, 2008
Bahrain's property market is booming as a clutch of real estate projects reach fruition and retail occupiers descend on the high-flying kingdom.
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Will Your Property Survive in 100 Years?
ArbianBusiness.com
24 April, 2008
The property industry is about to see a new strength of steel launched onto the market.
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GCC, Egypt, Jordan GDP to Top $1Trillion
TradeArabia
24 April, 2008
The combined GDP of the GCC economies, together with Egypt and Jordan, will cross $1,045 billion in 2008, thereby sustaining the region’s demand for white goods and consumer electronics, according to an industry research.
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Gulf Could Face Shortage of Real Estate Professionals
The Economic Times
24 April, 2008
DUBAI: The real estate industry in the Gulf region could face shortage of qualified professionals as it witnesses an unparalleled boom, according to a study.
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Wyndham Worldwide CEO Cites New Timeshare Law as the Foundation for Growth in the Middle East
AME Info
April 24, 2008
Speaking in advance of the Global Travel and Tourism Summit that is taking place in Dubai on April 21, 2008, Steve Holmes, Chairman and CEO of Wyndham Worldwide, parent company of Group RCI, the world leader in timeshare exchange, explained just why the leisure real estate sector in the region stands to gain through the establishment of local timeshare regulations.
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GCC Property Market 'Lacks Experts'
Trade Arabia Business News Information
April 23, 2008
The booming real estate market in GCC could be severely hit by a shortage of qualified property development and management professionals, says a study. The crisis looms at a time when the region is witnessing unparalleled real estate developments, both in magnitude and numbers.
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Holding the Old Maid
Gulf Weekly Worldwide
April 23, 2008
Edwin Ball, the former chief operating officer for Gulf Finance House, explains to GulfWeekly readers what caused the credit crunch and how its implications are touching our lives in Bahrain. Canadian Mr Ball, 41, who lives with his family in Saar, has held senior executive management investment banking roles in Europe, the Middle East and Asia.
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Skills Shortage Threatens Construction Boom
ArabianBusiness.Com
April 23, 2008
A serious shortage of skilled professionals is threatening to stunt growth of the Gulf’s booming real estate market, according to a study by the University of Wollongong in Dubai (UOWD).
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GCC, the Fastest Growing Real Estate Market in the World, Will Face Severe Shortage of Professionals
ArabianBusiness.Com
April 23, 2008
A study by University of Wollongong in Dubai reveals property developers find it difficult to fill key positions.
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Real Estate Projects in Excess of Dh8.8 Trillion Underway in GCC Countries
GoWealthy.Com
April 22, 2008
According to industry research, real estate projects worth more than of Dh8.8 trillion are in progress in GCC countries. Taking into account the additional developments currently at the early planning or concept stage, the Gulf countries account for a total of 3,519 projects worth Dh9.27 trillion. The majority of these developments are being carried out in Saudi Arabia and the UAE. The 2008 edition of Hardware and Tools Middle East is scheduled to take place from 25th to 27th May 2008 at the Dubai International Convention and Exhibition Centre in the light of such massive construction activities.
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MEP Products To Go On Display At Hardware And Tools in 2008
AlBawaba.com
April 22, 2008
Hardware and tools sector to benefit from construction projects in Gulf valued at AED 8.8 trillion
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Jordan: Finance Leasing Flows Mostly Into Real Estate
Jordan Times
April 22, 2008
(MENAFN - Jordan Times) Finance leasing extended for real estate purposes amounted to JD102 million or 64 per cent of the total leasing volume in Jordan which reached JD160 million in 2006, an official of the International Finance Corporation (IFC) said Monday.
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Amlak Finance and Cham Holding Sign MoU to Launch Home Finance Solutions in Syria
AME Info
April 21, 2008Amlak Finance, the largest real estate financier in the Middle East, announced today the signing of a Memorandum of Understanding (MoU) with Cham Holding, with the objective of making available Amlak's innovative and pioneering home finance solutions in the Syrian market.
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AMS Unveils Official Leasing of Bahrain's Downtown Al-Areen Mixed-Use Project
AME Info
April 21, 2008Aswaq Management & Services, the Abu Dhabi-based Emirati-French joint venture has added new assignments to its existing portfolio of clients and projects.
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How To Make Money In The Middle East
Forbes.com
April 21, 2008
You don't need a kingdom to invest like a sheik.
The Arabian Peninsula may be known for its arid deserts, but it's also home to a fertile oasis of economic growth. The six Gulf Cooperation Council (GCC) countries-- Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates (UAE)--channel their oil wealth into homeland economies and mammoth infrastructure projects. Grabbing a piece of regional trends in banking, construction and telecommunications could give your portfolio a boost.
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Better Housing Pledged
Gulf Daily News
April 21, 2008
THE Cabinet yesterday pledged ample housing space for beneficiaries of housing services in the future, while increasing the area of future units to a minimum of 200sqm.
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Retailers Look to the Future
Emirates Business 24/7
April 21, 2008
As double-digit inflation and a global slowdown threaten to engulf the region, retailers and mall owners are debating ways to continue bringing in consumers – and we haven’t even begun to talk about the competition yet.
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Contenders For The Crown
Forbes.com
21 April, 2008
As Islamic finance grows by leaps and bounds, a handful of capital cities are champing at the bit to become the center of the industry, which currently boasts some $500 billion in assets.
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Investors Concerned More with Space than Price
ArabianBusiness.Com
April 20, 2008
Saudi property investors are most likely to go for three- and four-bedroom houses, despite 80% of the kingdom’s population believing real estate prices are too high, according to results from the ArabianBusiness.com Property Survey 2008.
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Superheroes Head for the Persian Gulf.. Hollywood Hopes Theme Parks, Characters Fly in Middle East
msnbc.com
April 20, 2008
LOS ANGELES - Wonder Woman, King Kong and Shrek are heading for the Persian Gulf as part of the rush to build what could become the world's largest theme park playground.
But even as the ink dries on the billion-dollar deals in the United Arab Emirates, movie studios are grappling with ways to make their signature characters and amusement parks fly in the conservative Muslim region.
Politically sensitive characters such as Captain America could be left at home. Prayer rooms will join the list of accommodations, and menus will likely feature falafel and humus alongside pizza and hot dogs.
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Gulf Economies Risk Water Torture
ArabianBusiness.Com
April 20, 2008
The amount of water available for each person in the Middle East will halve by 2050 according to the World Bank.
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Palm Hills Developments S.A.E. Announces Indicative Price Range For Global Offering
AME Info
April 20, 2008
Palm Hills Developments S.A.E. (PHD or the Company), a leading real estate developer in the Egyptian market, announced the indicative price range for the global offering of its ordinary shares (Shares) which will be admitted to trading on the Cairo and Alexandria Stock Exchange (CASE) and Shares in the form of Global Depositary Receipts (GDRs).
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Qatari Diar Investments in Egypt Exceed $6bn
The Peninsula
April 17, 2008
Doha • Qatari Diar has become one of the largest companies operating in the real estate investment and tourism field in Egypt with investments exceeding $6 bn.
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UAE, Qatar Most-Mortgaged Markets in GCC
ArabianBusiness.Com
April 17, 2008
Investors who purchase property in the UAE and Qatar take out the highest mortgages of all GCC countries, according to results of the ArabianBusiness.com Property Survey 2008.
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Over There and Underwater
PortFolio.Com
April 14, 2008
As prices at home soared, savvy vacation-house hunters found bargains in new hotspots like Croatia and Belize. Now they’re getting burned.
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Real Estate Market 'Growth Sustainable'
Gulf Daily News
April 17, 2008
MANAMA: Growth in the real estate market in Bahrain will be sustainable for at least five years, according to a new company planning seven major projects in the kingdom. "Market research varies a lot," said Manara Developments chief executive officer Kareem Shamma. Some predictions paint a gloomy picture, while others show a glowing outlook.
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Low Customer Loyalty for Gulf Developers
ArabianBusiness.Com
April 17, 2008
Half of real estate investors in the GCC do not have a preferred property developer, the ArabianBusiness.com Property Survey 2008 has found.
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Saudi Arabia Will Need Four to Five million Housing Units by 2020
Khaleej Times
April 11, 2008
JEDDAH — There has been a growing demand for real estate in Saudi Arabia, which has been attributed to repatriation of Saudi funds from abroad, soaring oil prices and increase in oil revenues, and the recently introduced regulatory framework covering investment laws for Gulf Cooperation Council (GCC) nationals, which made freehold investment in the Kingdom highly attractive.
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Investors Heavily Mortgage-Reliant
ArabianBusiness.com
16 April, 2008
Nearly four out of five investors will use a mortgage to buy their property in the Middle East, the ArabianBusiness.com Property Survey 2008 has revealed.
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Tunisia Takes Steps to Mitigate Climbing Real Estate Prices
Magharebia
15 April, 2008
According to the most recent government population and housing census, more than 80% of Tunisians own their own home. For prospective first-time buyers, however, the soaring prices of raw materials, labour and land make purchasing more difficult year after year.
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Main Investment Projects in Algeria, Hailing from Arab World
El Khabar
30 April, 2008
The Arab investments in Algeria, are the most important, as the Egyptian companies investing in Algeria, are the main investors, their combined investments worth $6 billion, while this amount is expected to increase in the future, has unveiled Mr. Brahim Bendjaber, the Chairman of commerce and industry Chamber
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$16m Porta Reef Deal Signed
Gulf Daily News
April 15, 2008
MANAMA: A financing facility deal worth a total of $16 million was signed yesterday between Porta Reef Real Estate Development, Khaleeji Commercial Bank (KHCB) and BankMuscat International (BMI). The deal seeks to finance the $90m Porta Reef residential project, located on the coast of Manama.
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Investors Unfazed by Surging House Prices
ArabianBusiness.Com
April 15, 2008
Investors will to continue snapping up property in the region despite soaring house prices, further exacerbating the real estate supply shortfall, the ArabianBusiness.com Property Survey 2008 has revealed.
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Investors Snap Up Property for Sale in Morocco
Real Estate TV
April 15, 2008
More and more foreign investors are snapping up property for sale in Morocco, a media outlet has revealed.
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Egypt eyes $12bn Qatar investment
Gulf Times
April 14, 2008
Doha: Egypt is looking for Qatari diversified investments of up to $12bn in the next few years, visiting Egyptian Minister of Trade and Industry Rashid Mohamed Rashid said yesterday.
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'Brand Middle East' Identified With Real Estate Excellence
Business Intelligence
April 13, 2008
INTERNATIONAL. Amid intensified competition in the Gulf’s multi-billion dollar real estate sector, the region's leading players are increasingly launching sophisticated marketing campaigns, which - according to the Gulf Real Estate Study (GRES) 2007 - is an emerging trend that showcases the rapid collective transformation of the region as a global real estate brand powerhouse.
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Al Maabar to Develop Jordan's Aqaba Port
Gulfnews.com
13 April, 2008
Abu Dhabi: Al Maabar International Investments Company said on Saturday it will develop 3.2 million square metres in the Jordanian port of Aqaba.
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Bank to Invest in Turkey Properties
Gulf Daily News
13 April, 2008
MANAMA: Shamil Bank yesterday announced that it had successfully met the $90 million target for the Shamil Bosphorus Modaraba, which it plans to invest in the Turkish real estate market.
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Kuwait Finance House Offers Financing International Real Estate for Over 7 Years
AME Info
April 12, 2008
The Domestic Real Estate Manager at Kuwait Finance House (KFH) Salah Al-Khamees said that financing real estate acquisition abroad has top priority in KFH's real estate business.
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Jordan Government Approves Five-Billion-Dollar Deal with UAE Group
EarthTimes.org
April 12, 2008
Amman - Jordan's government Saturday endorsed an agreement with the United Arab Emirates real estate conglomerate, Al Maabar, to modernise the Red Sea port of Aqaba and surrounding area at an estimated cost of five billion dollars, an official statement said.
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Morocco Offers Strong Rental Market
PropertyShowRooms.Com
April 10, 2008
Are you looking for off-plan property in Morocco?
The International Property Investment Network (IPIN) sources the best value off-plan property for our members in Morocco and around the world, and the best part about it is it's 100% FREE to join. No obligation, no pressure.
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Morocco Hosts Foreign Investors For New Desert Oasis Resort
Nubricks.com
09 April, 2008
While Morocco may not be a newcomer to the tourism trade, recent figures indicate that interest in the region is very much on the up with more people than ever before visiting the country. This has been spurred on by the rather adventurous Vision 2010, a plan to increase visitor numbers from the current recorded high of 7.4 million a year to over 10 million by 2010, with the Moroccan authorities already primed for action.
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Saraya Aqaba Showcases the Life of Exclusive Luxury
Al Bawaba
08 April, 2008
Saraya Aqaba showcases the life of exclusive luxury
Saraya Aqaba announced its gold sponsorship and participation in the Kuwait International Property Show (KIPS), the largest real estate, investment, and finance exhibition held in Kuwait, during 14 - 18 April 2008, at the Kuwait International Fair Ground – Mishref.
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$7bn Style City Projects on Way
Gulf Daily News
April 8, 2008
ABU DHABI: Abu Dhabi Investment House (ADIH), which has its representative office in Bahrain, is to launch a $7 billion Style City project in several countries, it was announced yesterday.
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Estate USD2bn Residential-Leisure Real Estate Project in Bahrain Soon
Bahrain News Agency
April 7, 2008
Manama, April 7 (BNA)-- Two businessmen from Omar Al Babtain and Qatari Business Khalid Al Misnad are currently discussing the establishment of a huge real estate project in Bahrain at the cost of USD 2 billion.
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Estate USD2BN Residential - Leisure Real Estate Project in Bahrain Soon
Bahrain News Agency
April 07, 2008
Manama, April 7 (BNA)-- Two businessmen from Omar Al Babtain and Qatari business Khalid Al Misnad are currently discussing the establishment of a huge real estate project in Bahrain at the cost of USD2 billion.
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Leading Real Estate Solutions Provider Inks Strategic Partnership with Taameer Jordan Holdings
Al Bawaba
07 April, 2008
Eqarat.com, a leading total solutions provider to the real estate sector, announced that it has entered a strategic partnership with Taameer Jordan Holdings (TJH) to exclusively manage the sales and marketing of the USD 260 million ‘Andalucia’ project in Jordan and across the Middle East.
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Libya, UAE Sign $500 mn Deal
Thaindian News
06 April, 2008
Tripoli, April 6 (IANS) Libya and the United Arab Emirates (UAE) have signed an agreement for a $500 million joint venture for development projects in the African country.
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Aqarco becomes 'Jordan Dubai Properties' and increases capital to JD70m
AME Info
April 5, 2008
The General Assembly of the Real Estate Commercial Investment Company PLC (Aqarco) announced accepting the recommendation of the board of directors regarding increasing the company's current registered capital of JD7.5m by JD62.5m to reach a total of JD70m.
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Kuwait Eyes Privatisations, Real Estate Reform
Reuters
April 1, 2008
KUWAIT - Kuwait wants to diversify its economy away from oil, attract more investment, speed up the sale of state firms and ease land ownership rules to prepare for the post-oil era, a top government body said.
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