| AME Info News - Real Estate |
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AME Info News - Real Estate
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Dubai Lagoons project resumes
Wed, 20 Aug 2008 10:19:00 +0400
The Dubai Lagoons project is under way and has not been cancelled, according to the Dubai Real Estate Regulatory Authority. "The Dubai Lagoons project, which was initiated before the launch of Rera, saw some delays. Rera, in its monitoring responsibility, had to respond to investors' complaints and safeguard their rights and interests," Rera Chief Executive Marwan bin Ghalita said. An auditor has been appointed to thoroughly audit the company's accounts. Likewise, an appraiser shall be appointed to examine construction works, he added. [AMEInfo.com]
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Ex-Nakheel employee faces bribery charges
Wed, 20 Aug 2008 08:11:00 +0400
Dubai-based developer Nakheel has issued a statement confirming that a former employee is under investigation for bribery. This brought to two the number of persons being investigated over alleged acceptance of bribes at Nakheel. Last week, the firm said one of its employees was being questioned on suspicion of bribe-taking. This followed a report in MEED, which said Walid Al Jaziri, Nakheel's General Manager for Sales, was being investigated for financial irregularities. [AMEInfo.com]
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Dubai issues new mortgage law
Wed, 20 Aug 2008 07:26:00 +0400
The Dubai Government has issued a new mortgage law to help better regulate the emirate's booming real estate sector. The law, which comes into effect 60 days after its publication in the official gazette, stipulates that mortgage contracts be registered with the land department, specifying the size of the loan, the repayment period and the value of the property to which the loan is linked. The law also requires that mortgages taken out on properties in Dubai be sold by registered financial institutions, and be insured.
[AMEInfo.com]
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Nakheel delegation to visit USA
Tue, 19 Aug 2008 12:04:00 +0400
Top officials from Dubai-based real estate developer Nakheel are scheduled to visit the United States on 22 August to meet with a number of top US developers and investors seeking investment opportunities in Dubai, according to a press statement. Leading Nakheel on this visit to Los Angeles will be the company's CEO, Chris O'Donnell, and its Director of Sales, Marketing and Customer Service, Manal Shaheen, who will be accompanied by a team of company professionals. [AMEInfo.com]
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Timelinks to unveil 'city of the future'
Tue, 19 Aug 2008 09:36:00 +0400
Dubai-based Timelinks, an environmental design company, has announced that it will unveil a 'city of the future' at the upcoming Cityscape Dubai which takes place from 6-9 October 2008. The city - called the Ziggurat project - will be in the shape of a futuristic pyramid which, according to Timelinks, could support an entire community of up to one million people by harnessing the power of nature. Timelinks has patented the design and technology incorporated into the project and has applied to the European Union for a grant for technical projects.
[AMEInfo.com]
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