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Dubai house prices, already nearly 60 percent off their peak, are set to drop another 10 percent over the next two years as new units are released onto a market awash with supply, a Reuters poll shows. A property boom in Dubai collapsed at the end of 2008 when it was hit by the global[…]
The total value of real estate deals in Dubai plunged 65 percent in 2010 as new supply squeezed market prices, a new report has said. The number of deals fell by more than half during the period as lending in the emirate remained pinched, the latest data from Jones Lang LaSalle showed.
Residential market in Dubai will continue to experience a situation of oversupply with prices not expected to recover before 2012, Jones Lang LaSalle (JLL) said on Sunday.
LAHORE – A Constitutional petition has been filed before the Lahore High Court to question the construction of Liberty Park and Ride Plaza inter alia on the land originally owned by Parks and Horticulture of Authority (PHA) for the development of public park which could not be handed over to the Lahore Development of Authority[…]
ISLAMABAD – The Capital Development Authority (CDA) has still not hired a contactor for the development of sector I-15 allotted in 2006 to meet the housing needs of low-income groups working in the federal capital.
ISLAMABAD: Ban has been imposed over the illegal business and hunting of scarce birds in Islamabad. This decision has been taken jointly by CDA and District Administration Islamabad here the other day.
In 2009, I wrote that The World project in Dubai might be in trouble due to the economic downturn. The ambitious development in the Gulf may have another problem on its plate. Reports came out yesterday stating that the islands shaped like countries are sinking back down into the water.
It exemplified the booming property market and ambition of Dubai’s entrepreneurs. But after the global financial crisis led to the collapse of the emirate’s home-building market, a unique development known as ‘The World’ is reportedly facing Armageddon.
Dubai: Residential property prices in Dubai are likely to recover by 2011 as the market detects continued signs of improved lending from 2009, which is expected to continue until 2011, said Memon Investments, a Dubai-based property developer and part of the international business conglomerate Shaikhani Group.
Dubai’s real-estate industry will remain under stress with occupancy levels dropping because of “massive new supply,” according to CB Richard Ellis Group Inc.
LAHORE – PML-N leader Khawaja Saad Rafique disclosed on Monday night that thousands of acres of precious land owned by the Lahore Development Authority (LDA) had been transferred covertly to the Defense Housing Authority (DHA). He termed the allotment illegal and said his party would take up the issue on floor of the National Assembly.[…]
ISLAMABAD, Jan 22: The cost of Makran Coastal Highway (N-10) has increased to Rs21.4 billion from its earlier estimated cost of Rs15 billion. The phenomenal rise in the cost can be attributed to torrential rains of 2003, 2005 and 2010 which badly damaged Lyari-Ormara and Ormara-Pasni sections of the highway.
KARACHI: The Federal Board of Revenue’s move to compile “Active Taxpayers List” of existing taxpayers to distinguish between compliant and non-compliant may result in suspension of a large number of taxpayers, observed tax consultants.
LAHORE, Jan 22: The District Planning and Design Committee has allowed commercial activities on 37 roads or their portions, besides notifying another 24 thoroughfares where future commercialization has not been permitted, in the controlled areas of the Lahore Development Authority (LDA).
LAHORE, Jan 22: A petition has been filed in the Lahore High Court (LHC) challenging the establishment of Liberty Park and Ride Shopping Plaza at Liberty Market, Lahore.
ISLAMABAD, Jan 22: As many as 25 members of the 100-seat Senate have decided to become party in the Supreme Court case on the issue of Reko Diq copper-gold mines of Balochistan.
THE Lahore High Court while issuing interim order on Friday restrained the Punjab government from the converting the recreational park of the Lahore Press Club Housing Scheme into residential plots and their allotment to 295 new members of the press club.
ISLAMABAD, Jan 22 (APP): Prime Minister Syed Yusuf Raza Gilani has taken serious notice of two news items published on Saturday in a section of the press regarding the “unauthorized use of CDA vehicles” and “sale of unhygienic meat in Rawalpindi”.He directed the Chairman CDA to submit report immediately about misuse of CDA vehicles by[…]
Islamabad: The Capital Development Authority clarified a report published in ‘The News’ on January 20, 2011, regarding contract for the construction of Parliament Lodges, Phase-II.
No occupant returns vehicle despite Cabinet Division’s instructions CDA officers and political personalities including Punjab Governor and former advisor to prime minister Sardar Latif Khosa using CDA vehicles ISLAMABAD: Unauthorised use of Capital Development Authority’s (CDA) vehicles by political personalities and CDA officers is continuing despite the Cabinet Division’s directions to recover the vehicles worth[…]
It exemplified the booming property market and ambition of Dubai’s entrepreneurs. But after the global financial crisis led to the collapse of the emirate’s home-building market, a unique development known as ‘The World’ is reportedly facing Armageddon.
The ‘globe’ effect is most impressive when spotted by satellite, but visitors to Dubai who scale the Burg Khalifa – the tallest building in the world – can also see the awe-inducing sight.
The outlook for 2011 is one of correction and consolidation for Sharjah’s real estate sector. The market should slowly start to pick up, though recovery is expected to be modest in the shorter term before gaining momentum, Global Arab Network reports according to OBG.
Dubai house prices, already nearly 60 percent off their peak, are set to drop another 10 percent over the next two years as new units are released onto a market awash with supply, a Reuters poll shows. A property boom in Dubai collapsed at the end of 2008 when it was hit by the global[…]
DUBAI (Zawya Dow Jones)–Dubai real-estate developer Nakheel said Thursday a special tribunal relating to Dubai World dismissed a contempt case against the real-estate developer.
