Category: News (Page 4 of 5)

26 February 2008

Turning Dubai into the centre of global pearl trade: this is the objective of ‘Pearls of Arabia’, the latest project presented in the emirate which, reviving the recent past of UAE, is looking into the immediate future. Until a century ago 95% of the economy of the emirates, not yet related into a federation, was based on pearls. Now, six square kilometres of structures dedicated to pearls will be built on Antarctica, one of the 300 islands forming the archipelago ‘The World’. A cultural centre, a theatre, …

15 February 2008

Luxury residential areas, trade centres which will attract the most prestigious brands in the world, entertainment parks, hotels, the real estate sector does not seem to suffer slowdowns in Dubai and the estimated value of the projects in stage of implementation is USD 120 billion, according to daily Milano Finanza. In 2008 alone the new apartments in the emirate will be 150,000. And in five years, according to the paper, a residential area larger than Manhattan will be built in Palm Jumeirah, where apartments and 200 hotels …

03 February 2008

Damac Properties has unveiled its Marina Bay project in Abu Dhabi, a green luxury development at the Najmat Abu Dhabi, raising its total investments to USD500 million in the growing property market of the emirate. The 24-storey Marina Bay overlooks the marina and occupies a prime seafront on Al Reem Island. The project is due to be completed three years from the day the master developer hands over the land. The development is a mix-use tower that offers retail on ground and mezzanine levels, offices on podium …

01 February 2008

“Sixth Crossing”, the new bridge that Dubai plans to construct over the bay, is designed to become the longest arch-bridge ever built in the world. Over the stretch of asphalt, suspended 15 metres above water level, a gigantic arch – 667 metres long and 205 metres high – will rise becoming yet another distinctive feature of the city. The whole bridge, which will feature another arch of more modest dimensions, will be 1.6 kilometres long and 64 metres wide and will comprise 12 road traffic lanes as …

25 January 2008

The Universe, a complex of artificial coral islands inspired by the solar system, is the latest architecture and engineering challenge destined to redesign the coastal profile of the Emirate. With islands resembling the sun, the moon and the planets, the universe will lie between Palm Jumeirah and Palm Deira, perfectly embracing the exclusive archipelago The World. The Universe too will be designed by real-estate development giant Nakheel. Luxurious residences, business centres as well as tourist and trade centres will be built on the 3,000ha of islands. Despite …

24 January 2008

The half-billion-dollar residential complex, to be built by Escape Real Estate in Ajman, an emirate located north of Dubai which is adopting an aggressive policy of investments in construction, will be entirely dedicated to horse-riding. The project will be called Escape in honour of Escape Ibn Navarrone-D, the champion stallion owned by the sheikh of the emirate, and envisages the construction of 500 villas and 15 small luxurious hotels dedicated to the theme of riding. Each of the 150 rooms will be dedicated to a specific horse …

24 January 2008

The Dubai Shopping Festival (DSF), the event that for a month will stake on the formula purchases-and-shows, starts today. The Festival has proved successful over the years both in terms of tourism and economy. With 40 trade centres and over 4,000 shops joining the initiative, indoor and outdoor shows and attractions, DSF launches a swirl of discounts, offers, promotions and lotteries, often million ones. Thus, Damac Properties seizes the opportunity of the DSF season to give to every client who buys an attic a Bentley Continental Flying …

17 January 2008

Emirates Airlines is stepping up its services to Europe by increasing flights to Nice and connecting the French city non-stop to the airlines international hub in Dubai. The current three flights a week from Nice, each with a stopover in Rome, will change to five weekly non-stop services from December 1. Emirates will then become the only airline offering such regular connecting flights linking southern France with the Middle East, Asia and the Far East. The flights will be operated by an Airbus A330-200 aircraft. The new …

31 December 2007

The real estate sector in the United Arab Emirates is set to attract over SAR 30 billion (USD 8 billion) in Saudi investments in 2007 as the growth in interest by the global community in the local real estate industry continues to soar. The key factor driving this growth has been the emergence of significant government legislation aimed at protecting investors, which is steadily being refined to benefit more buyers.

In line with the increased Saudi investment into the country, SNASCO, a leading property developer in the …

07 December 2007

Emirates Business 24/7, touted as the Middle East’s first English language daily dedicated to business and economic news, hits newsstands on December 9. The new daily, launched by publishing giant Arab Media Group, will focus on business-related local, regional and international news, with a focus on sectors and industries such as oil and gas, banking and finance, real estate, technology, telecommunications and travel and tourism, reports Arab News.

“The current economic boom in the region, especially in the UAE, has resulted in an exponential increase in readers’ …