Month: December 2009

RAK in talks to develop $1bn maritime city

Discussions are underway between Ras Al Khaimah and potential Indian partners to create a $1bn maritime city according to the CEO of the Ras al Khaimah Free Trade Zone (RAKFTZ). Speaking at the World Free Zone Conference in Hydrabad, Oussama El Omari said the planned maritime city development would be around 5 million square metres… Read more »

Abu Dhabi gives Dubai $10bn to cover Dubai World debt

The Abu Dhabi government and the UAE Central Bank are to provide $10bn (£6.13bn) to the Dubai Financial Support Fund to help Dubai World meet its immediate financial commitments, including the repayment of a $4.1 billion Islamic debt which matures today. According to a source close to the Dubai government, the UAE central bank will… Read more »

Turkey property rentals thrive in 2009

2009 has been a successful year for Turkey property rentals, according to leading overseas letting companies. “Demand for rentals is going from strength to strength as travellers realise they can rent a whole home for less per head than a hotel and stretch their budget even further by taking advantage of self-catering facilities,” explained Courtney… Read more »