Uncertain future for troubled Dubai Lagoon project

eProperty | Dubai Real Estate | March 7, 2012

Property investors and developers tied up in the troubled Dubai Lagoon project have reached a stalemate over how to move forward, with each blaming the other for the lack of progress on site.

The AED3bn ($817m) mixed-use development, which has faced a series of difficulties since its launch in 2005, remains strangled by liquidity woes and is still some way off completion, with no firm agreement between parties on how to speed up construction.

“The project is moving, it’s not on hold, but it’s moving very slowly because of cashflow,” a source close to the project told Arabian Business. “The contractors are not being paid. There is payment but it is delayed.”

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New directorate will oversee development in private schemes

eProperty | Lahore Development Authority, Lahore Real Estate | March 7, 2012

LAHORE: The Lahore Development Authority (LDA) has established a separate directorate for executing development works in private housing schemes that fail to accomplish those tasks. The funds raised through the auction of plots mortgaged with the LDA will be used for the development work in the housing society in question.

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CDA pins hopes on public-private partnership for development

eProperty | Capital Development Authority, Islamabad Real Estate | March 7, 2012

ISLAMABAD – After the approval of Capital Development Authority (Amendment) Bill, 2011, which provides legitimacy to joint ventures in terms of development of city through public-private partnership by the Prime Minister, the city managers have pinned high hopes on development of stalled sectors.

Prime Minister Yousuf Raza Gilani on Saturday (February 3) accorded approval to the amendment bill that was earlier approved by CDA Board in September 2011 in the backdrop of a joint venture undertaken by CDA with a cooperative housing society to develop sector northern strip of Sector E-11 and was struck down by the apex court.

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Baluchistan and International Conspiracies

eProperty | Gwadar Real Estate | March 7, 2012

By Brig Nadir Mir

Recently, a resolution was passed in the US Congress to divide Pakistan and carve out an ‘independent Balochistan’. With this, an old neocon dream was revived. This time the so-called globalists and propagandists, masquerading as human right activists, are the cheerleaders. Against this backdrop, Colonel Ralph Peter’s map of the ‘New Middle East’ truncating, balkanising every country – Turkey, Saudi Arabia, Iran, Pakistan and Afghanistan – was reproduced. Despite the fact that it was scorned and reviled even at the time of its earlier exhibition.

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Dubai is back – or not?

eProperty | Dubai Real Estate | March 7, 2012

Experts and officials ask this question every six months, only to be disappointed. But for now, the answer seems to be “yes.”

Is Dubai back? That’s the question economists and government officials ask about once every six months, only to be disappointed. But this time, at least, the stock market seems to be answering a yes.

Dubai’s shares have rallied 30 percent so far this year amid a spate of positive corporate earnings, dividend announcements and encouraging economic data.

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