Month: November 2009

RAK’s Al Hamra Mall to be completed by Q1 2010

Al Hamra Mall in Ras Al Khaimah is expected to be fully operational and with all shops rented out by the first quarter of next year. Al Hamra Real Estate, who run Al Hamra Village, have announced that the mall’s food court and entertainment zone are being completed, with many of the finishing touches expected… Read more »

New flights make Turkey even more accessible

Pegasus Airlines, Turkey’s low cost carrier, have expanded their service from the UK to Turkey with an additional 17 flights to be in operation in 2010. The extra flights include routes from London to Bodrum and Dalaman; Birmingham to Antalya and Bodrum and Manchester to Antalya and Dalaman. In line with recent reports of growing… Read more »

Dubai Land Department: Dubai property sales up 50% in October

The total value of Dubai apartment and villa sales in October increased by more than 50% compared to the previous month, according to Dubai Land Department statistics. Referring to the figures, Hamad Buamin, Director General of the Dubai Chamber of Commerce and Industry stated the total sales value of Dubai apartments grew by 34% and… Read more »

Signs of recovery for Dubai property market

The Dubai property market is showing signs of recovery according to new reports, with prices rising for the first time after the economic downturn. According to the Colliers International House Price Index, Dubai property prices rose by 7% in the third quarter, with the total volume of transactions increasing by 63%. Factors of the recovery… Read more »

RAK economy to grow in 2010 says bank chief

The Ras Al Khaimah economy will grow next year, according to the chairman of RAK Bank. In an interview with Oxford Business Group, Sheikh Omar Bin Saqr Al Qasimi, acknowledeged the impact of the glob financial crisis but expressed his confidence that RAK, along with the rest of the UAE would see growth in 2010:… Read more »

Dubai has 2020 Olympics in its sights

Dubai has made clear its intentions of becoming the first Arab city to host the Olympics by setting up a committee to oversee a possible bid for the 2020 games. According to WAM Emirates News Agency, an inaugural meeting was held earlier this week attended by Dubai Ruler Sheikh Mohammed bin Rashid Al Maktoum who… Read more »

Emaar announce official opening of Burj Dubai

Emaar has announced the iconic Burj Dubai will be officially opened on 4th January next year to coincide with the anniversary of Dubai Ruler Sheikh Mohammed bin Rashid Al Maktoum’s accession to power. Mohamed Ali Al Abbar, Chairman of Emaar, explained the launch date as a mark of appreciation for Sheikh Mohamed: ‘We decided to… Read more »

Green shoots emerge in Dubai’s tourism industry

Dubai has witnessed an increase in passenger numbers according to the Dubai Department of Tourism and Commerce Marketing, a trend that looks set to continue. “Over the next few years, the emirate’s bold and progressive attitude to growth will see a whole host of additional development initiatives open to offer an impressive portfolio of exceptional… Read more »