HYDERABAD: The Andhra Pradesh Industrial Infrastructure Corporation (APIIC) has informed the High Court that it was deceived by its private partner Emaar Properties of Dubai in all respects and due to this deceit, it could not receive a single rupee of income so far despite the sale of crores worth of its plots and villas.

Dubai Holding Commercial Operations Group LLC, a real-estate and hospitality group owned by Dubai’s ruler, had its long-term credit rating cut one level by Fitch Ratings as the emirate’s property industry slumped further.

The Dubai based master-developer, Emaar Properties recorded a net operating profit of 3.034 billion AED (US$826 million) in 2010, an impressive increase of 31% on last year’s figures. Emaar is most famous for its flagship tower the Burj Khalifa, launched at the beginning of the year and its award-winning development, The Address on Dubai Marina,[…]

SINGAPORE – Investors are optimistic about the property markets of New York, Kuala Lumpur and London, international property investment firm, IP Global, said on Tuesday. This is in contrast to their outlook for the property markets in China, Dubai and Greece.

Dubai, February 12th 2011: DAMAC Properties, one of the Middle East’s leading international real estate investment companies, has today announced that interest in the company’s luxury property segment is at its highest level in two years.

Tiger Woods was paid more than $55 million in fees for a golf course development in Dubai that is now shut down and turning back into sand. Woods would have earned more than $14 million in additional money if it had actually come to fruitition.

Apartment property prices in Dubai fell significantly in November in all categories apart from those in the 51 to 100 square meter category, the latest figures show. Prices rose marginally in this sector month on month, the data from REIDIN, the leading real estate information company covering emerging economies, shows. It is based on transaction[…]

(DUBAI, UAE) — The big names are feeling the brunt of the financial crisis in Dubai even though some parts of the real estate industry seem to be doing better. This week Donald Trump and Tiger Woods learned that their signature projects were being cancelled.

DUBAI: Developer Nakheel has offered home buyers property swaps for projects closer to completion or a five-year wait for refunds to drum up support for its restructuring plan, its chairman told a newspaper. About Dh4bn ($1.09bn) worth of homes — or half of the company’s liabilities to buyers — have already been swapped for other[…]

The names of Bollywood actress Minissha Lamba and Hollywood movie star Tara Reid have been used in a property scam in the United Arab Emirates to fleece investors of more than nine million dirhams.