‘Real Estate’ Archives
BD245m legal battle for bank
DUBAI Islamic Bank (DIB) is facing a $650 million (BD245m) legal battle in Bahrain with four businessmen, who it accuses separately of fraud in Dubai, it emerged yesterday. Bahrain resident Charles Ridley and business partners Ryan Cornelius, Erin Nil and Arthur Fitzwilliam have filed a civil suit in Manama, according to a Dow Jones [...]
Low-rise elegance
It is not hard to spot signs of Bahrain’s bustling residential property market and the enthusiasm for the free market that drives the country’s building programme. The short drive from the international airport on this desert island’s northern tip into the capital, Manama, takes you past billboards promoting lush, landscaped new housing [...]
Investing in UAE commercial property
The first step before making any investment is to do your homework thoroughly and to understand the pros and cons of that particular investment. I assume you have already done this and have good, sound reasons for choosing commercial property as an investment. If you have the funds readily available to you, with no need to leverage, buying [...]
Doubletree by Hilton Expands Mi
DUBAI, United Arab Emirates - (Business Wire) Hilton Worldwide has signed a management agreement with Jordan Maritime Complex for Real Estate Investments Co. for the Doubletree by Hilton, Aqaba, marking the brand’s entry into Jordan with a stylish, upscale, full-service hotel product in Q3 2010. The 181-room, new-build property will be located [...]
Sabban Group sets up Dhs7m headquarters in Dubai Investment Park
Sabban Group of Companies, the umbrella organisation of developer Sabban Property Investments (SPI), has set up an Dhs7m headquarters in Dubai Investment Park (DIP), in a move that will centralise the Group's subsidiary companies in the hotels and hospitality, property investment and development industries.
Dubai Islamic Bank Faces $650M Legal Fight In Bahrain
Dubai Islamic Bank PJSC (DIB.DFM), the emirate's largest Shariah-compliant lender, faces a $650 million legal battle in Bahrain with four businessmen who it accuses separately of fraud in Dubai, legal documents show. Bahrain resident Charles Ridley and business partners Ryan Cornelius, Erin Nil and Arthur Fitzwilliam have filed a civil suit [...]
Dubai Hldg Ppty, Hospitality Arm Posts $6.2B FY Loss
Dubai Holding Commercial Operations Group, the real estate and hospitality arm of the business empire owned the emirate's ruler, Tuesday reported a net loss of 22.8 billion U.A.E. dirhams ($6.2 billion) in 2009, raising concerns over the city-state's continuing debt burden. This compares with the year-earlier profit of AED10 billion, Dubai [...]
Loans Vanished in a Property Bust Reappear
The W Hotel in Union Square has had an eventful six months. The 270-room hotel changed hands in December after the private equity division of Dubai World defaulted on a $117 million mezzanine loan in the face of dwindling business. But the lender, LEM Mezzanine, could itself lose the hotel in coming months as a result of its filing for [...]
Mideast luxury sales seen stagnant in 2010
Dubai conglomerate Al Fahim Holdings expects the region's luxury sector to turn in a similar performance this year to last, when sales were down 40 percent, with Gulf Arab buyers propping up the market. Chief Executive Mohammed al-Fahim told the Reuters Global Luxury Summit on Tuesday that the sales trend improved in the first quarter this [...]
Dubai Govt To Meet Investors In Europe To Allay Fears
In an effort to ease investor concern about the health of Dubai's economy finance officials from the emirate will hold a non-deal roadshow in Europe starting from the end of this week. The Dubai Department of Finance "confirms that it is conducting a series of fixed income investor meetings in Europe as part of a non-deal investor update in [...]
