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Middle East Real Estate News
Newsletter from Eqarat.com
Issue No 350 - August 08, 2011
Alwaleed signs deal for world's tallest tower
Saudi billionaire Prince Alwaleed bin Talal has given the go ahead for the construction of the world's tallest tower in the Red Sea port city of Jeddah by signing a SR4.6 billion ($1.23 billion) contract with Bin Laden Group.
NAI Global, JAJ in strategic tie-up
NAI Global, a leading network of real estate firms and Dubai-based provider of asset valuations JAJ Consultants will announce their new strategic alliance at the upcoming Cityscape Global in Dubai.
Aldar Properties swings to Q2 profit
Aldar Properties, the indebted developer rescued by a $5.2 billion bailout by Abu Dhabi, swung to a second quarter net profit, helped by sales and rental income, and raised an additional 1.4 billion dirham ($381.2 million) loan from banks.
IIROSA plans hotel tower in Makkah
The International Islamic Relief Organization of Saudi Arabia (IIROSA) has signed an agreement with a leading construction firm towards building a residential hotel tower in Makkah.
Seef Properties posts $5.9m H1 profit
Seef Properties (Seef), a leading real estate firm in Bahrain, has reported a profit of BD2.25 million ($5.96 million) in net profit for the first half of 2011 as against BD3.28 million for the same period of last year.
Nakheel further delays Islamic bond
Dubai World's property arm Nakheel said its planned Islamic bond, part of its $10.9 billion debt repayment proposal, has been delayed due to administrative reasons.     

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