The introduction of mortgage caps has been instrumental in dampening the buyer activity this year, research has found.
Egyptian state news agency MENA said Saudi would inject $124 million dollars into the Saudi Egyptian Construction Company (SECON).
The developer will announce new “big” projects later this year, confirmed Ali Rashid Lootah.
The repayments will be funded from Nakheel’s own resources rather than support from the Dubai government.
Arabtec’s shares, the most heavily traded in Dubai, plunged 53 per cent this month, dragging down the entire market.
The villas, which come with a starting price of Dhs36,000,000, will be ready by Q1 2017, the developer said.
The towers will be located in the Sahara complex between the borders of Sharjah and Dubai.
Reports claimed that the Dubai contractor laid off hundreds of staff following the departure of CEO Hasan Ismaik.
The development will include three office buildings overlooking Crescent Plaza, which houses luxury retail outlets and F&B options.
The acquisition is Al Habtoor’s second hotel in the Hungarian capital.
Hasan Ismaik who resigned from Arabtec on Wednesday, holds a 28.85 per cent stake in the company.
Bids for phase one are due by August 14.
Experts, including the IMF, have called for more regulations to govern transactions in Dubai’s off-plan property market.
Shares in Arabtec, one of the most heavily traded stocks in Dubai, have plunged 48 per cent from their May peak.
Sovereign wealth funds in the region are expected to make the biggest investments, with Europe slated to receive the bulk of the amount.
The move reflects a rebound in investor confidence in the JLT development, says chairman.
Dubai house prices posted the fastest year-on-year rise of any of the world’s major markets in January-March, soaring 27.7 per cent.
The IMF warned that with rent controls recently loosened, there is a risk that rising real estate prices will lead to a hike in inflation in the UAE.
The developer said it has instructed Deutsche Bank to make the payment on the due date of June 15, 2014.
The offices, located at the Business Park Free Zone, will include small, medium and large units.
The UAE’s central bank warned that the emirate’s property market might be overheating.
Villas from the Dhs7 billion residential project will be handed over to buyers in December 2014.
House prices in Dubai soared 27.7 per cent from a year ago in January-March.
The world’s tallest commercial tower, the ‘Burj 2020’ will form the centerpiece of the development.
Prices for the units at NAIA hotel, located on Damac’s 1.3km AKOYA Drive shopping strip, start at Dhs680,000.
Monitoring development in the UAE real estate markets and the banks’exposure to it remains a core financial stability priority, the bank said.
The meetings will be held in Asia, Europe and the Middle East and the sukuk will be sold afterwards, subject to market conditions, Emaar said.
The 10 highest-valued mega-developments in the emirate, according to a report by MEED.
The Dubai developer has joined hands with Germany-based real estate brokerage company Engel and Völkers (E&V).
The fund will acquire existing real estate assets, with a focus on the logistics, social infrastructure and community retail sectors.