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Issue No 322 - August 30, 2010
No foreign freehold in Sharjah – government decree
Sharjah has moved to quell speculation that it would offer freehold ownership on property in the emirate to foreign investors.
Real estate firm sees sales boost with satellite mapping
Sana'a-based AqarMap.com is looking to bring the benefits of satellite mapping to real estate sales and letting.
Saudi to spend $39bn on 'smart buildings'
Saudi Arabia is expected to spend SR150 billion ($39.9 billion) in the next eight years for the construction of "smart buildings" all over the Kingdom, said an expert, citing data. more
Saudi Dar Al-Arkan sees earnings boost from rent
Saudi-based Dar Al-Arkan Real Estate Development expects rent income to gradually rise from near-zero last year to SR1 billion ($266.7 million) by end-2015, its general manager said on Saturday. more
Sodic posts $8.94m H1 net profit
Sixth of October Development & Investment Company (Sodic), a top real estate development company in Egypt, has posted a net profit of EGP51 million ($8.94 million) on revenues of EGP123 million for the first half of 2010. more
Saudi Arabia faces huge housing challenge
Saudi Arabia is facing a huge housing challenge with the country's population reaching 27.14 million, even as the authorities ponder over a mortgage law, which could give a boost to the housing sector. more