Real Estate

Bloomberg When Ethiopian farmer Mulugeta Mezemir ceded his land three years ago to property developers on the fringes of the expanding capital, Addis Ababa, he felt he had no choice. A gated community with white picket fences and mock Roman pillars built by Country Club Developers now occupies the fields he tilled in Legetafo, Oromia region, after the 60-year-old said ...

Emirates Business Real estate investors across the Europe, Middle East and Africa (EMEA) region intend to be very active in 2016. According to CBRE’s 2016 EMEA Investor Intentions Survey almost half (48 per cent) of all surveyed expect their purchasing activity to be higher than last year, compared with just 15 per cent who expect to be less active buyers. ...

Abu Dhabi / Emirates Business Rotana , one of the leading hotel management companies in the Middle East, Africa, South Asia and Eastern Europe, has launched its newest property in Bahrain – the five-star hotel Downtown Rotana , which was inaugurated by H.E. Zayed R. Al Zayani, Bahrain’s Minister of Industry, Commerce and Tourism on Sunday. Rising amidst the traditional ...

Riyadh / Emirates Business The real estate market in Lebanon is among the sectors that have been adversely affected by the political crisis between that country and the Kingdom, and Saudi investors are among those feeling the heat. The losses due to the slowdown in the Lebanese real estate sector, especially due to the travel alert issued by Gulf Cooperation ...

Bloomberg Buying one share of Grand Marnier Group will get you 8,050 euros in cash when the company is acquired by Davide Campari Campari-Milano SpA — and a chance to roll the dice on what may be one of the biggest residential real estate deals of all time. Shares of Grand Marnier resumed trading after the French company agreed to ...

Bloomberg Prologis Inc., the world’s largest owner of industrial real estate, would like to buy more property in the U.K. That’s unlikely to happen until the country decides whether it wants to stay in the European Union in June. “For the sake of another quarter, let’s just wait,” Ben Bannatyne, president of Prologis in Europe, said in an interview at ...

Dubai / Emirates Business A slowing economy hasn’t had any sort of impact on Qatar’s residential rental market, with a 7 per cent gain last year following on from the 14 per cent annual growth experienced in 2014. But rental growth numbers are starting to pick up some slack, according to a CBRE report. Growth “during the second half of ...

Muscat / Emirates Business As many as eight international companies have been pre-qualified to bid for developing independent water projects (IWPs) at Salalah, Shaqiyah and Duqm. The Oman Power and Water Procurement Company (OPWP) , which oversees the procurement of all new electricity generation and water desalination capacity in the country, said that these firms comprise a consortium of International ...

Muscat / EMIRATES BUSINESS Muscat National Development and Investment Company (ASAAS) unveiled its second mega-project this year announcing its plans to build a four-star hotel and an Urban Park, managed and operated by Hilton Worldwide under the brand Hilton Garden Inn. The project, a result of an agreement with Muscat Municipality will come up in a 16,000sq m plot in ...

Bloomberg Starwood Hotels & Resorts Worldwide Inc., owner of brands such as Westin, Sheraton and W, said it plans to accept a $13.2 billion takeover bid by China’s Anbang Insurance Group Co. and gave suitor Marriott International Inc. a deadline to make a counteroffer. Anbang and its partners will pay $78 a share in cash for Starwood, according to a ...