Month: October 2006

Construction industry still bullish in the Gulf

A surge in the construction sector and other related industries, such as furniture and interiors are on an all time high in the Gulf, most predominantly in Dubai, United Arab Emirates, with analysts predicting Middle-East GDP will increase five-fold by 2030. Source Khaleej Times

Britons & Indians top list of overseas property buyers in Dubai

It has been revealed that Dubai is receiving international coverage, with UK citizens and Indians amongst the top non-Arab property buyers in Dubai. As the ongoing property boom continues in Dubai, Iranians and Pakistanis are also accompanying the Britons and Indians in showing a great interest in Dubai property. As a tax free haven and… Read more »

Dubai’s rapid growth propels need for office space

Dubai has turned out to be the pivotal hub for all major companies who wish to be represented in this booming region. Being the commercial capital of the United Arab Emirates, one of the major players in the Gulf, Dubai is perfectly poised between the developed west and the fast rising east. A gleaming metropolis… Read more »

Dubai set to lead Gulf retail sector by 2009

Dubai is expected to top the Gulf region’s retail spending by 2009, despite its population being a fraction of neighboring Saudi Arabia, Gulf News reported. Industry analysts say retail spending in the emirate will hit $7.6 billion in 2009, compared to Saudi Arabia with $6 billion and Abu Dhabi at $1.9 billion. A large part… Read more »

Further growth in the emerging Turkish property market.

It's now five years since foreigners were first allowed to buy property in Turkey, and the Turkish property market has exploded with interest. Almost 1.4 million UK tourists visited the country on holiday in 2004 (the latest year for which statistics are available), a 50 per cent increase on the numbers five years earlier. The… Read more »

So where IS the property market heading?

Ask Dubai residents about their concerns for 2007 and you may hear unease over North Korea’s nuclear capabilities, Iraq’s continuing descent into chaos or the volatility of the global economy. But closer to home the most pressing concern is whether the explosive rental increases which characterised the 2006 property market will be repeated next year…. Read more »

International asset management fund acquires property in Dubai

Founded in 1999 and managing assets worth $4 billion, Midas International Asset Management Co. Ltd, an established global investment fund has acquired U-Bora Towers in Dubai Business Bay from Dubai Properties and South Korea’s Bando Engineering and Construction. Hashim Al Dabal, CEO, Dubai Properties, commented: ‘The deal is another crucial vote of confidence for Dubai… Read more »

50 cruise ships arriving in Dubai.

Dubai is gearing up to welcome 50 cruise ships at its state-of-the-art cruise terminal during the cruise tourism’s winter season starting from October to April 2007. The passenger vessels are scheduled to have a total of 64,993 passengers and crew members on board. Khalid A bin Sulayem, Director General of Dubai Department of Tourism and… Read more »