Bloomberg Sales of previously owned US homes unexpectedly fell in May for a second month as a lack of inventory and elevated asking prices weighed on demand, National Association of Realtors (NAR) data showed. The drop in sales was led by declines in purchases of single-family homes and cheaper properties, according to NAR, indicating that the market is being driven by …
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JEDDAH / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and Mohammed bin Salman bin Abdulaziz Al-Saud, Crown Prince, Deputy Prime Minister, Minister of Defense of the Kingdom of Saudi Arabia and President of Saudi Council of Economic and Development Affairs chaired the first meeting …
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Abu Dhabi / WAM The Abu Dhabi City Municipality has called upon property developers to expedite the registration of their real estate development projects under the Real Estate Regulatory Law No. 3/2015. A statement to this effect was made during a meeting with escrow account managers and developers and licensing of property units team at the Municipality. Attendees of the …
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Bloomberg Sun Hung Kai Properties Ltd.’s record HK$25.2 billion ($3.2 billion) purchase of a coveted plot near Hong Kong’s former airport signals that the city’s developers are brushing off concern that expected rate increases will damp the red-hot housing market. Sun Hung Kai beat out bidders including units from CK Asset Holdings Ltd. and Henderson Land Development Co., paying almost …
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Dubai / Emirates Business Dubai Land Department (DLD) announced a new cooperation and strategic partnership agreement with Medallion Associates LTD. The agreement was signed by His Excellency Sultan Butti bin Mejren, Director General of DLD, and Masood Al Awar, Chairman and CEO of Medallion Associates LTD, in the presence of senior officials from the two companies and a number of …
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Bloomberg The only thing that might be colder than Toronto in January is the Canadian city’s housing market. While the bleak mid-winter is never the best time to sell a home in Canada, a string of open houses in the country’s largest city were chillingly empty on a recent afternoon. Tougher mortgage rules went into effect on January 1 just …
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Bloomberg A clear winner is emerging among Chinese equities this year, whether in Hong Kong or Shanghai: real estate. Property firms account for eight of the 10 best performers on MSCI Inc.’s gauge of offshore Chinese shares in January, while developers have rallied the most among industry groups on the Shanghai benchmark. Shimao Property Holdings Ltd. has led the charge …
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Bloomberg HNA Group Co. has approached brokers about the possible sale of two office buildings in London’s Canary Wharf financial district as it seeks to shed assets and cut its debt burden, two people with knowledge of the discussions said. The Chinese conglomerate has sought advice from brokers on the value of 30 South Colonnade and 17 Columbus Courtyard with …
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DUBAI / WAM Seventeen new judges including five Emiratis at the Dubai first instance courts have sworn-in before His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, at Zabeel Palace. HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, and …
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DUBAI / WAM The Library of Alexandria has established the Arab Reading Challenge (ARC) wing with 150,000 books in various genres including fiction, history, science and more. The initiative was launched under the Mohammed bin Rashid Al Maktoum Global Initiatives, with the signing of an agreement between Arab Reading Challenge and the Library of Alexandria. Saeed Al Eter, Assistant Secretary-General …
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