Real Estate

Abu Dhabi / WAM Housing assistance and loans provided by the Sheikh Zayed Housing Programme, since it was founded in 1999, have reached AED30 billion, revealed Dr Abdullah bin Mohammed Belhaif Al Nuaimi, Minister of Infrastructure Development and Chairman of the Programme. He stressed that the government housing sector is one of the government’s priorities, as the wise leadership remains ...

Abu Dhabi / Emirates Business Aldar Properties PJSC (‘Aldar’), Abu Dhabi’s leading listed property development, investment and management company, appointed Construction Group Contracting House (CGCH) as the main contractor and early works package provider for an AED 745 million contract at The Bridges, its mid-market residential development on Reem Island. The contract, which commences with immediate effect, comprises the construction ...

Bloomberg A luxury home in Hong Kong set a price record for apartment sales in Asia, even as the government seeks to tame property prices in the world’s least affordable market. The penthouse duplex unit in Henderson Land Development Co.’s 39 Conduit Road project was sold for about $67 million, or HK$105,000 per square foot, the city’s Sing Tao Daily ...

Dubai / Emirates Business DAMAC Properties, a leading luxury real estate developer in the region, collected five awards at the Arabian Property Awards held recently in Dubai, where it was recognised as a leader in the five categories for distinctive architecture and exceptional interior design. DAMAC also received two nominations for the International Property Awards that will be held next ...

Bloomberg Several large Chinese cities including Shijiazhuang, Chongqing, Nanchang, Nanning and Guiyang are imposing restrictions on home resales as part of the nation’s campaign to cool its heated property sector. Chongqing will ban sales of new and existing residential properties in downtown areas within two years of purchase, according to a statement on the city’s housing authority website. The move ...

Bloomberg Perween Rahman was returning home one evening in March 2013 from her job as head of the Orangi Pilot Project, which for years has pushed land title claims for Karachi’s poor, when she was shot three times by a gunman. Rahman died as she was rushed to hospital by her friend and colleague Anwar Rashid. “He was a sharp ...

Bloomberg Asian property prices have reached risky levels, especially in Sydney, Hong Kong and Shanghai, according to S&P Global Ratings. “Asset prices, especially property prices, today are as stretched as they were before the Asian crisis,” Elena Okorochenko, head of Asia-Pacific ratings said at a conference in Singapore on Wednesday. Combined with increased household debt, prices in Sydney, Hong Kong ...

Abu Dhabi / WAM Decent gains held by the real estate sector kept UAE markets stable on Tuesday, with ADX General Index closing high 0.71 percent at 4470 and DFM General Index slightly down 0.03 percent at 3652 points. Emaar hit a new high, closing at AED8.78, driven by the momentum created by the now-running Cityscape Global 2017. Market analysts ...

Dubai / Emirates Business MAG Property Development (MAG PD), the real estate development arm of MAG Group, announced the details of its flagship MAG Creek Wellbeing Resort project at Cityscape Global 2017. The AED 2.2 billion project reflects the company’s ability to achieve industry excellence and exceed its customers’ expectations in the freehold sector by introducing innovative and unprecedented and ...

Bloomberg China’s Cindat Capital Management is joining an acquisition of QHotels Group valuing the UK hospitality company at more than $660 million, people with knowledge of the matter said. Cindat, which focuses on overseas property deals, is negotiating a joint purchase of QHotels with UK investment firm Aprirose, according to the people, who asked not to be identified because the ...