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.

The total number of real estate transactions in Dubai reached Dh123 billion in 2010, the Land Department said today. The number includes all sales, mortgages, ijarah (long term lease which is eventually owned after completing its financial obligations), mortgage portfolios, deffered sales, gifted lands and properties.

Dubai: The Dubai Roads and Transport Authority has not abandoned any of its public transport expansion projects, said as senior official. “Construction of the third line of Dubai Metro called ‘the Purple Line’ to connect Dubai International Airport and Al Maktoum Airport in Jebel Ali and completion of Al Sufouh Tram project are all still part[…]

Once up and running, the driverless, automatic train system will have a total length of 76km Dubai: The signalling and safety systems for the long- awaited Green Line of Dubai Metro are now being tested as part of a trial run.

A long-delayed light-rail system in occupied Jerusalem is set to move forward after Israel, banks and the group building the 3.3 billion shekel (Dh2.67 billion) project reached a financing deal yesterday.