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Issue No 356 - November 21, 2011
Tenants relieved as Abu Dhabi extends rent cap
Landlords in the UAE capital will be forced to restrict annual rent increases to five percent until 2012, after the oil-rich emirate extended an existing curb on price increases.
Abu Dhabi issues ordinance on contracts for leased premises
General Shaikh Mohammad Bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, in his capacity as the Chairman of the Executive Council has issued an ordinance on the extension of contracts of leased premises.
Investcorp buys 3 major properties in US
Investcorp announced the acquisition of three major real estate assets in the US, bringing its real estate investments this year to $300 million. more
Adnec tower ready for occupation
SinoGulf Real Estate Investments said the 41,000 sq m International Tower, the largest commercial tower at Abu Dhabi National Exhibitions Company's (Adnec) Capital Centre is now complete and ready for occupation. more
Seef Properties' net profit surges 19pc
Bahrain-based Seef Properties has announced a 19 per cent increase in net profits to BD1.57 million ($4.2 million) for the third quarter of the year compared with BD1.32 million in the third quarter of 2010. more
EFS signs deal with Oracle
The cost of doing business in facilities management is going to fall drastically with enterprise resource planning (ERP) entering the sector, which a top official said will help reduce the service charges in freehold areas as well as public facilities. more