Low Cost Developments Take Off in Morocco

Addoha, Morocco’s foremost property developer, has purchased two development projects from Fadesa, a failed development company. Addoha is intent on completing the projects on schedule. The company has also set its sites on affordable housing which experts say is a good move considering the drastic downturn in the luxury real estate market.

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Dubai Launches Sky Lounge at Burj Dubai

The Address Hotels and Resorts have announced the opening of The Address at Downtown Burj Dubai. The much talked about flagship development is touted as the latest in international luxury hospitality. The highest lounge, located in Dubai City, has been dubbed Neos. The name was created from the Greek word “neo, which means “new,” and “eos,” which means “dawn.”

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Ajman’s Property Market Improves

It is clear that property markets around the world are suffering from the global credit crunch. Even in Dubai, the emirate known for its solid real estate market, has seen a decline. However, experts say that despite the downturn, Ajman’s real estate market has surpassed the Dh400 billion mark. The activity promises that 2009 will be as successful, if not more so. In addition to robust sales, real estate prices have appreciated by as much as 48% throughout 2008.

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Abu Dhabi Wants Assurances on Property Developments

In a recent move to prevent further decreases in the property development market, Abu Dhabi’s Department of Planning and Economy (DPE) has requested that the government do something about “curbing speculation in the emirate’s real estate market” in the hopes that it can reduce or disintegrate any impact that may further plague the financial and stock market sectors.

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Developer Speculates on Nigerian Economy

Despite the effects that the current global recession is having on the rest of the world, analysts believe that Nigeria may not experience much of a meltdown. Real estate developer Lanre Okupe, Managing Director of Cornerstone Construction (Nigeria) Ltd, says that Nigeria’s economy will most likely be exempt from the extreme financial crises being experienced by some countries because it was never a player in the global marketplace. Read more

Reef Real Estate Signs Deal with RYDGES

Reef Real Estate Investment has signed a operator’s contract with RYDGES Hotels & Resorts to oversee two impending projects, AL WADI Hotel & Residence at MizinMizin and Crystal Tower at Business Bay. Read more

Iranians Hurt by Dubai Real Estate Slump

Thousands of Iranians saw an opportunity to make safe investments while the Dubai property market was booming. The real estate market in Dubai was more stable that Iran’s - at least for a while.

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Investments Can Plague the Well-Informed

There are many people complaining about the current state of the economy and who have suffered great losses in the various markets. There are also some who are suffering from embarrassment, because they feel they should have known better.

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Hilton Agrees to Develop 13 Hotels in Saudi Arabia

Hilton Hotels Corp. has announced that it has signed a Strategic Development Agreement (SDA), a non-exclusive contract with the Abdulmohsen Al-Hokair Group for Tourism and Development. The agreement states that Hilton has the potential to build 13 Hilton Garden Inn development properties.

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Nigeria Gets an Online Presence

Nigeria has recently been introduced to the global property market via a new website, www.nethomesng.com. The site was launched by Victor Lamai, an investment adviser based in Ireland. According to Lamai, the website will allow potential investors to view 3-D images of properties in Lagos, as well as other cities around the world, such as Dubai and London. Not to mention that the investors can shop to their hearts’ content without ever leaving the comfort of home. Read more

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