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Middle East Real Estate News
Newsletter from Eqarat.com
Issue No 340 - May 02, 2011
Hawkamah in landmark real estate initiative
The Hawkamah Institute for Corporate Governance, Real Estate Regulatory Agency (Rera) and the Dubai Real Estate Institute (DREI) have signed a landmark deal to improve corporate governance within the real estate industry in the UAE.
Select Group builds 'tallest' residential tower
The Torch', a tower built by leading Dubai-based property developer Select Group at Dubai Marina, has been recognised as the world’s tallest residential building, beating Q1 Tower of Gold Coast, Australia.
Barwa Q1 net profit doubles, rentals soar
Barwa Real Estate's quarterly profit more than doubled, as revenues surged on increased rentals and income from banking activities, the developer said in a statement on Sunday.
Nakheel halts sales of new properties
Developer Nakheel, Dubai World's property arm that is restructuring $10.9 billion in debt, said it has stopped selling new properties and is focusing on consolidation.
Eshraq Properties launches $225m IPO
UAE-based real estate company Eshraq will be holding an initial public offering (IPO) of  shares worth Dh825 million ($224.6 million), equivalent to 55 per cent of the company’s total capital, with each share amounting to Dh1.
New mortgage law ‘to spur Saudi real estate’
The proposed revision of mortgage lending in Saudi Arabia is expected to spark renewed interest in the residential sector, according to an expert.

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