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UPDATE 1-Gulf investors launch $2.8 bln in new Islamic firms Hill International Selected as Project Manager for Tamweel Headquarters Building at Business Bay Armani designs villas at $1.8 bln Egyptian resort MILAN, Aug 27 (Reuters Life!) - Giorgio Armani will design his first villas for a $1.85 billion gated community development in Egypt that is just two hours' drive from Cairo, the Italian fashion designer said on Wednesday. Emaar Properties is building the 9.9 billion Egyptian pounds ($1.8 billion) gated community at Sidi Abdel Rahman Bay, on 1544 acres of what Armani described in a statement as "the best stretch of beach on the north coast" of Egypt. ... 'We are in the process of setting up base in Abu Dhabi' Real estate investing Ferretti Luxury Beach Residence and Pershing Luxury Beach Residence Launched NBQ issues convertible bond worth Dh2.36b $5.8bn smelter will make UAE global powerhouse Former chief of Tameer launches Dh4b realty firm Dubai-controlled KOP buys $250 mln Stein hotels stake Re-branding Damac Properties has increased the private sector master developer's positioning as a luxury lifestyle provider to include a focus on the benefits of luxury and has differentiated it from its competitors, the company said yesterday. Schön Properties Signs AED 1171 Billion Contract with Belhasa Engineering & Contracting Company for Dubai Lagoon Emaar Properties Unveils Smart Living With 18 Burj Dubai Boulevard Residential Tower Sale of homes at Tower 1 of 18 Burj Dubai Boulevard will be held from August 30, 2008, at Emaar Business Park and Emaar's Abu Dhabi Sales Centre from 9am to 6pm. Dubai and other Emirate residents wishing to buy from Emaar Business Park must register online, while Abu Dhabi residents can make their purchases on a first-come, first-serve basis at the Abu Dhabi Sales Center. Online registration begins on August 27, 2008 at emaar Several financial institutions are offering easy home finance options. ... Currently open are three hotels in the area, Al Manzil, Qamardeen and The Palace, The Old Town which is directly connected to Souk Al Bahar, a shopping mall featuring Arabesque architectural elements. The area will feature a fountain that is envisaged as one of the world's finest water features integrating musical and attractive visual elements.... UAE bank eyes support in lawsuit over US fund Dubai Contracting awarded more tower work at Dubai Marina Dubai -- Dubai Contracting company (DCC) was recently awarded the main contract to build a new residential tower in Dubai Marina valued at Dh265,000,000. ...Erga Progress are the consultants on the project, on which construction is expected to start before the end of this year. India's BHEL gets $32 million UAE contract Top Awards for Sama Dubai's Doha Project Al Sayegh plans Dh40m expansion Fortune Group plans five projects worth Dh2.5bn Dh50 billion Culture Village inches closer to completion Nakheel Unveils Location for Queen Elizabeth 2 Dubai Contracting Company awarded Dhs265m contract for new residential tower at Dubai Marina
Arab Banks Invest $2.8 Billion in Infrastructure, Agriculture and Hospitality
Reuters - USA
By John Irish DUBAI, Aug 27 (Reuters) - Three Gulf Arab banks will launch a specialised bank to finance infrastructure projects, an agriculture firm and a hospitality fund as rapid growth in the Middle East and North Africa lures billions in new investment. ...The ambitious plans, the latest in a string of multi-billion-dollar projects, come as a five-fold rise in oil prices since 2002 fuels breakneck growth in the energy exporting nations of the Gulf, Middle East and North Africa. ...
Hill International Project Managers for Tamweel Headquarters Building at Business Bay
Al-Bawaba - Amman,Jordan
Hill International, the worldwide construction consulting firm, announced today that it has been awarded a contract by Tamweel P.J.S.C. to provide project management services for Tamweel Headquarters Building at Business Bay, Dubai, UAE. The twenty-six month contract has an estimated value to Hill of approximately AED 7 million ($1.9 million). ...The design of the building is characterized by the twisting of every 4-storeys block forming an architecturally interesting form. ...
Emaar Properties Building a $1.8 Billion Villas at Sidi Abdel Rahman Bay
Reuters South Africa - Johannesburg, South Africa
Palm Utilities Expansion Plans Includes Abu Dhabi & India
Zawya - Dubai, United Arab Emirates
Keith Levers, CEO of Palm Utilities, says that its USP and success in the market lies in engaging with every individual end user. Expansion plans include setting up a company in Abu Dhabi and signing MoUs in India, with potential for more in Egypt and Malaysia. ...
Dubai Real Estate Investment Comparison
International Business Times - New York,NY,USA
Dubai announced a wave of changes to its laws governing foreign freehold ownership of real estate in 2002, drawing in vast amounts of property investors as investors as the property sector exploded. ...On average, a villa in Dubai will cost around $1,000 per square meter with is cheaper in comparison to western areas like the London Docklands where a square meter will cost anything around $5,000. ...
ACI Real Estate and Ferretti Group Launch "Ferretti Luxury" and “Pershing Luxury" Beach Residence Towers
Al-Bawaba - Amman,Jordan
National Bank of Umm Al Quwain (NBQ) & Global Investment House Announced Dh2.36 Billions Bond
GulfNews - Dubai,United Arab Emirates
Dubai: The National Bank of Umm Al Quwain (NBQ) and Global Investment House yesterday announced a primary agreement to issue a Dh2.36 billion convertible debt instrument. ...Upon successful conversion, the new issue would imply 25 per cent expansion of the existing paid in share capital, giving Global a 20 per cent stake in NBQ... The bank has an aggressive business plan to reinforce its presence in the UAE. The Government of Umm Al Quwain is the bank's major shareholder since inception, apart from major UAE major investors. ...
World's Largest Smelter in UAE - $5.8 Billion Global Power House
ArabianBusiness.com - Dubai,Umm al Qaiwain,United Arab Emirates
by Tom Arnold on Wednesday, 27 August 2008 HOT STUFF: The development of the world's biggest aluminium smelter in the UAE will signal the country's arrival as one of the global powerhouses for production, the chief executive of the project said on Wednesday. ...The proposed aluminium smelter in the UAE will help move the country away from dependency on oil gas export ...
Nobles Investments Launched by Former Chief of Tameer
GulfNews - Dubai,United Arab Emirates
Dubai: Omar Ayesh, former chief executive of Tameer Holding, has launched Nobles Investments, a Dh4 billion real estate development company in Dubai, ... Nobles Investments is committed to attracting the best industry talents who are destined to share the glory of Nobles' success story as part of the team. ...
Stein Hotels $250 Million to be Bought by Dubai-Controlled KOP Capital
Reuters - USA
SINGAPORE (Reuters) - Singapore-based KOP Capital, controlled by the emirate-owned Dubai Group, will buy a 50 percent stake in European hotel chain Stein Group for $250 million, and spend about the same amount on new hotels in Asia
Chinese are Homing on Nakheel Property Developer
Al-Bawaba - Amman,Jordan
DP World, Dubai World's flagship global marine terminal operator today hosted a 17-member high-level civic delegation from Shanghai, China, led by His Excellency Han Zheng, Mayor of Shanghai. The high profile visit included meeting and talks with senior DP World and Dubai World officials and a tour of Nakheel's island developments. ...
Damac's New Corporate Identity - "Wish Fulfilment"
GulfNews - Dubai,United Arab Emirates
By Natasha Marrian, Staff Reporter Dubai: Damac yesterday unveiled its new corporate identity with the theme, "wish fulfilment".
Dubai Lagoon AED 1171 Billion : Schön Properties Signs Contract with Belhasa Engineering & Contracting Company
Al-Bawaba - Amman,Jordan
Schön Properties, developers of the AED 3 Billion Dubai Lagoon Development, has signed an AED 1,171 billion contract with Belhasa Engineering and Contracting Company LLC (BHECC), to handle the construction of zones 3 and 6 of the exclusive mixed-use project. ...
"Smart Living" New Burj Dubai Boulevard Tower by Emaar Properties
Emaar Properties will unveil one of Dubai's pioneering urban professional residential towers, designed by international architects and centrally located within Downtown Burj Dubai. A two tower complex, 18 Burj Dubai Boulevard elegantly incorporates curvilinear architecture, and is designed to maximize its spatial dimensions and is located on the vibrant Burj Dubai Boulevard. ...
United Arab Emirates Bank Files Lawsuit Against US Fund
Reuters - USA
DUBAI, Aug 26 (Reuters) - A United Arab Emirates bank said on Tuesday it expected other Gulf Arab investors to back a lawsuit it has filed against major US financial institutions over a fund that collapsed in the U.S. credit crisis.
More Contracts Awarded to Dubai Contacting Company at Dubai Marina
MEED - Dubai,United Arab Emirates
Nobles Investments Dubai, a Dh4 Billion New Real Estate Development Company
GulfNews - Dubai,United Arab Emirates
Dubai: Nobles Investments, a newly established Dh4 billion real estate development company, has started operations in Dubai. The company will focus on the real estate markets in the UAE and the Middle East. ...
Bharat Heavy Electricals Wins 2 Gas Turbine Contracts in UAE
Reuters - USA
MUMBAI, Aug 26 (Reuters) - Indian state-run power equipment maker Bharat Heavy Electricals Ltd said on Tuesday it had won a contract for two gas turbine generating units worth 1.4 billion rupees ($32 million) from the United Arab Emirates. ...
Dubai Towers in Doha-Qatar Wins 3 Awards
Gulf Times - Doha,Qatar
THE Dubai Towers-Doha project has won honours in three categories at the CNBC Arabian Property Awards 2008, a company spokesman said. The project is being developed by Sama Dubai, the international real estate investment and development arm of Dubai Holding. The awards for Property Marketing, High-Rise Architecture and Best Developer Website...
Al Sayegh Group Investing AED 40 Million for Expansion
GulfNews - Dubai,United Arab Emirates
Duba:i Al Sayegh Brothers, part of Abu Dhabi-based Al Sayegh Group, is investing Dh40 million to open six more Electronics For You (e4u) outlets by 2010 as part of expansion drive, a top official said. ...We have also entered a joint venture with Aldar Properties to implement this system for the Al Raha Beach Development," he said. ...
Dubai's Fortune Group International Plans 5 Projects for AED 2.5 Billion
Zawya - United Arab Emirates
Fortune Group International, a Dubai-based developer, will announce five projects worth Dh2.5 billion by December, a top company executive said. "The five projects will have a built-up area of two million square feet. We will be launching a residential project, Fortune Bellevue in Park View master development," Saeed Zuberi, Chief Executive, Fortune Group International told Emiartes Business.
Dubai Properties' Culture Village Nears Completion
GulfNews - Dubai,United Arab Emirates
Dubai: Dubai Properties, master real estate developer and a subsidiary of Dubai Properties Group (DPG), a member of Dubai Holding, announced that the Dh50 billion Culture Village project has crossed key construction milestones, including the completion of 90 per cent of the Dh1 billion infrastructure works.
New Project Developments in UAE and Overseas Expansions
MarketWatch - USA
Reuters India - Mumbai,India
DUBAI, Aug 25 (Reuters) - Tatweer, a Dubai leisure developer with assets of $175 billion, is looking to join forces with some of the world's biggest theme park developers including Dreamworks Animation SKG Inc to expand outside the region. ...The Dubai developer has also signed a $2.2 billion project with General Electric Co's Universal Studios and teamed up with Blackstone Group LP's England-based Merlin Entertainment Group to build the Middle East's first Legoland theme park. ...
Earthtimes (press release) - London,UK
OTTAWA, Aug. 25 /PRNewswire-FirstCall/ - March Networks(R) (TSX:MN), a leading provider of intelligent IP video and business analysis applications, announced today that Ras Al Khaimah (RAK) International Airport has selected the VideoSphere(TM) intelligent video management solution to enhance passenger and asset security in its main terminal and adjacent facilities....The airport is in the midst of a US $16 million renovation and expansion project, which includes two new terminals, a VIP lounge, automated passenger and baggage handling facilities, and a cargo collection center. ...
Cruise Liner, Queen Elizabeth 2 to Anchor at Nakheel's Palm Jumeirah
India PRwire (press release) - Gurgaon,Haryana,India
Nakheel has revealed the new home for the world famous cruise liner, QE2, as the anchor of a luxurious marina development on the eastern trunk side of Palm Jumeirah. ...Plans for the QE2 include its transformation into an ultra-luxury floating hotel, featuring public promenades, retail outlets, cafes and restaurants, as well as a heritage museum displaying artifacts from the QE2 and maritime history. ...
New 33 Storeys Tower Project at Dubai Marina Awarded to Dubai Contracting Company DCC
AME Info (press release) - United Arab Emirates
Dubai Contracting Company (DCC) was recently awarded the main contract to build a new residential tower in Dubai Marina valued at Dhs265m. ...Erga Progress are the consultants on the project, on which construction is expected to start before the end of this year and be completed within 27 months....
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