Property developer Nakheel expects to complete its debt restructuring process in coming months as core banks unanimously support its proposal in principle. The developer, which is in talks with creditors on restructuring US$10.5 billion of bank debt, ask...more

Dubai Properties to counter sue UK architecture firm...more

Dubai projects shortlisted for government funding guarantee...more

Dubai-based developer Nakheel has said it has started the second phase of a repayment schedule to its trade creditors. As part of the recapitalization plan, trade creditors are offered 100% recovery of their agreed claims, with a 40% cash payment. The rem...more

Vice President and Prime Minister of UAE and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid Al Maktoum has approved "Green Buildings Project" in the UAE. This comes in accordance with the strategic directions of the Federal Government aimed at ac...more

Despite the impact of the global financial crisis resulting in an inevitable contraction in 2009, the UAE economy remains robust, shielded by significant overseas financial assets garnered during the era of high oil revenues. Substantial public expenditur...more

The Burj Khalifa, with three others, has bagged the best tall buildings in the world award, according to the Council on Tall Buildings and Urban Habitat. ...more

Beijing - The UAE pavilion at the 2010 Shanghai Expo reflects the UAE's interest in furthering relations with China, stressed Vice Mayor of Chinese Nantong City Shen Zhengxin. The UAE Pavilion which is organised and run by the UAE's National Media Counci...more

Dubai saw a 40 per cent revenue per available room (revPAR) decline last year, while the highest occupancy was recorded by Abu Dhabi, at 73 per cent, according to the latest industry report. Global research, consulting and services organisation HVS relea...more

Residential and commercial rents in Dubai and Abu Dhabi are likely to continue to slide in the short term, industry experts said. "Residential rents in Dubai will continue to soften further, if not dramatically, over the next couple of years," said Clutt...more

Dubai: Initial signs of rental stabilisation of 1 per cent in January and 6 per cent in February suggest the market is reaching equilibrium according the latest Property Beat report by HC Securities and Investments. After nine months of decline, asking r...more

Federal government will support Dubai as it tackles its $26 billion debt. Dubai will not be left without federal support as it deals with a debt of $26 billion, Shaikh Hamdan Bin Rashid Al Maktoum, Dubai Deputy Ruler and UAE Minister of Finance, told rep...more