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Issue No 276 - 28 July 2008
 
 
Sorouh H1 net raises 75pc to $266m
Sorouh Real Estate, has announced a 75 per cent growth in net profit to Dh977 million for the first half of 2008 when compared to Dh556 million ($151.3 million) in the corresponding period last year. more
 
Deyaar to develop ICD’s One Za’abeel
Deyaar Development has signed an agreement with the Investment Corporation of Dubai (ICD), to assume the development and management rights for One Za’abeel, a 36-storey mixed-use development in Dubai. more
 
 
Damac awards $219m IMPZ contract
Luxury lifestyle provider Damac Properties has awarded a Dh805 million ($219 million) contract to Intermass Engineering and Contracting Company for its Lakeside project at International Media production Zone (IMPZ). more
 
Dubai property market overheating warns bank
The property market boom in Dubai is showing signs of overheating as investors betting on quick gains inflate prices of real estate still under construction, Standard Chartered said on Thursday. more
 
Aldar's Al Bandar project on track
Aldar Properties, Abu Dhabi's leading integrated property, investment, and Management Company, said it has made encouraging progress on the Al Bandar precinct at the Al Raha Beach. more
 
Dubai residential rent rise slows
The slowdown of residential rent increases in Dubai continued through the second quarter as well, according to a report. more
 
Emaar Dubai property sales to offset hit in US
Dubai's Emaar Properties said on Thursday strong property sales in Dubai and the Middle East would offset any write-downs at its US unit, whose revenues have been hit by a subprime mortgage crisis. more
 
Citi hires CBRE as advisor
Citi has hired CB Richard Ellis to act as one of the three preferred real estate services advisors for its transaction management services across Europe, the Middle East and Africa (EMEA). more
 
EmaarEC nets $27m in sales
Emaar The Economic City (Emaar EC) celebrated the achievement of SR1 billion ($27 million) from sales of residential units within the first phase of King Abdullah Economic City (KAEC). more
 
 
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