Latest News
Saturday, January 20 - 2007
Four confirmed dead in Dubai fire
At least four workers have died in the Dubai skyscraper fire, with 39 more injured, Reuters reports. Fifteen are in a "serious condition" according to hospital officials. Fortune Tower in the under-construction Jumeirah Lake Towers development caught fire earlier on Thursday, with workers trapped in the top storeys. An official statement is due later.
ETA Star $272m in contracts out
Dubai-based ETA Star has awarded construction contracts worth $272m for three projects in the UAE, according to Gulf News. Contracts were awarded to Civil Co for Centrium, an apartment complex in the International Media Production Zone; to Ascon, for Al Manara tower at Business Bay; and to Fast Contracting for the Star Heights residential project in Sharjah.
The Quay destination for AD
Abu Dhabi has unveiled a new tourism, residential and commercial project called The Quay. It will feature a 620-room five-star hotel, 400 residential apartments for lease, office space in two, 20-storey towers, a 60-berth marina, and hospitality and leisure components. The project is a joint venture of Abu Dhabi Property Development and the Abu Dhabi s Tourism Development & Investment Company. Australia s The Cox Group is master planner. Construction is expected to take three years.
Burj Dubai breaks 100
The Burj Dubai tower has climbed past the 100-storey mark and is now 347 metres out of the ground, according to developer Emaar Properties. Work on the monster building is reportedly on schedule, with one level being built every three days.
$545m Europa Greens at IMPZ
Europa Greens, a $545m residential project at the International Media Production Zone in Dubai, Emirates Today reported. The development will have 40 buildings of five to 18 levels offering apartments townhouses and penthouses.
DIC sells $327m in plots
Dubai Industrial City has sold $327m worth of land to investors in its commercial areas, Gulf News reported. 83m sqft of land has so far been sold or leased in both industrial and commercial areas, a spokesperson told the daily. Three out of the six first phase industrial clusters have been fully leased.
$409m Royal Complex in AD
Local real estate firm Elite Holding is developing a $409m residential and commercial project in Abu Dhabi called the Royal Complex, Gulf News reported. It will have a 26-storey office tower, two 21-storey towers with 221 serviced apartments and a 23-storey residential tower with 73 units. National Bank of Abu Dhabi is putting up $204m finance.
The Lagoons districts named
Sama Dubai has revealed the distinct districts that together make up The Lagoons development. Al Dana, Al Sedaifa, Al Jiwin, Al Naama, Al Lulu, Al Hassabi and Dubai Opera House are the seven districts that will offer residential, corporate and commercial units, together with retail, leisure and cultural facilities. Dubai Towers - Dubai will anchor the Al Dana commercial district.
Mizin sells $1.2bn in land
Mizin has sold more than $1.25bn worth of land for developing in the four months since starting business, the Dubai state-owned developer said in statement. Developers have bought all 13m sqft of its Liwan project; 85% of the 16.5m sqft Majan mixed-use development; and 75% of its 20m sqft Arjan development.
85% of The Burlington sold
Around 85% of The Burlington tower at Business Bay in Dubai is sold. The 35-storey commercial building has 476 offices ranging in size from 530 to 2,019 sqft. Construction starts this month and is due to be completed by December 2009.
Building at Majan to start
Developers will shortly begin building on their plots at the Majan development in Downtown Dubailand, following the end of infrastructure work at the 16.5m sqft freehold mixed use project. State-owned Mizin is the master developer. Majan has 150 towers with residential, commercial, retail and leisure components.
Sama seeks Salam investment
Sama Dubai is looking for investors in its $1bn Salam Resort & Spa - Yiti project in Muscat. The Dubai Holding subsidiary will exhibit the 3.7m sqkm beach resort at the International Property Exhibition from 16-18 January in the Omani capital. The development is due for completion in mid-2009.
Dubai Towers design out
US-based architectural firm TVS has revealed its design for the Dubai Towers - Dubai project at The Lagoons. The four towers, ranging in height from 54 to 97 floors, were designed to represent the movement of candlelight, TVS said in a statement. Dubai Holding subsidiary Sama Dubai is the developer. The buildings will have residential, commercial, retail and hospitality components.
6,500 apartments over 3 months
Dubai Properties will handover 6,500 apartments to buyers at its $2bn Jumeirah Beach Residence project between March and May 2007, the developer said in statement. Idama, Dubai Properties facilities management arm, will supervise delivery and manage the apartments that are contained in 36 residential towers.
Dubai land sales $47m
Land and property worth around $47m was sold in Dubai last week, according to the Land Department. Emirates Hills was the most active area, accounting for seven of 44 transactions. Mortgages valued at $130.5m were registered.
Parking charge tests rent cap
Some Dubai renters have been hit with a new Dhs5,000 parking charge, which they say their landlord has introduced to try and avoid a government imposed 7% cap on rent rises, Emirates Today reported. The Karama residents said they had been using the basement carpark of their building for years.
