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Middle East Real Estate News
Newsletter from Eqarat.com
Issue No 330 - October 25, 2010
Waha Capital's Q3 profit soars to $10m
Abu Dhabi-listed Waha Capital's third-quarter net profit jumped to Dh37 million ($10.1 million), with the company citing improved revenues across its business as it plans to expand its maritime fleet.
Saudi needs 150,000 housing units a year
Saudi Arabia needs 150,000 housing units annually as demand for residential property is soaring, while a long-awaited mortgage law will not solve the top oil exporter's housing problem, said an expert.
Abu Dhabi developers focus on project completions
Abu Dhabi's property market is set for another year of consolidation in 2011 and the supply of high-end homes over the next 15 months will do little to address a shortage in mid-income housing, an executive said on Tuesday.
Wasl releases 200 Abu Hail villas for lease
Wasl Properties, a subsidiary of wasl, the asset management group owned by Dubai Real Estate Corporation (DREC), has released 200 villas for lease in the Abu Hail residential area.
Dubai property surplus to clear in 3-5 years
An oversupply of residential properties in Gulf Arab emirate Dubai will take three to five years to clear, the chief executive of flagship property developer Nakheel said in remarks published on Saturday.
Firm to invest $212m in Bahrain Bay project
An Indian group is to invest BD80 million ($212 milllion) over a three-year period in the Bahrain Bay Development, it has emerged.

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