Dubai's Real Estate Regulatory Agency (Rera) has issued a new rule which says developers can collect no more than 20% of the cost of a property from a buyer until construction begins, reported Emirates Business. 'We have sent out letters to 100 developers...more

The Habitat - the first 'green' building in the UAE emirate of Ajman has been unveiled by Modern Life Properties, according to a press release. Features of the 45-storey building include use of recycled and environmental-friendly building materials, effic...more

State-owned developer Nakheel has now sold 70% of the 300 islands that make up The World, a group of reclaimed islands in the shape of a world map located about 4km from Dubai's shoreline, The National has reported. The islands are being sold by invitatio...more

Emaar Economic City, the Saudi Arabian unit of Dubai's Emaar Properties, plans to hand over the first residential units to the owners in March, said Chief Executive Officer Fahd Al Rasheed. The company, which has sold 1,000 units in the Bay La Sun Village...more

Union Properties is looking at issuing up to Dhs2.5bn ($681m) of convertible bonds. Union Properties plans to seek regulatory approval to issue the bonds to 'strategic investors'. Hamood Abdulla Al Yasi, general manager at Emirates International Securitie...more

Damac Properties has completed 30 floors of its Ocean Heights tower development at Dubai Marina. One floor is completed every 5.2 days, the developer said. The 84-storey skyscraper is being built by Arabtec. Ocean Heights will eventually have 680 apartmen...more

Chairman of Damac Holdings Hussain Sajwani said that he believed that although the property sector in the UAE was undergoing a 'correction,' this would ultimately lead to a more mature market where strong companies would continue to be successful, reporte...more

Cayan Investment and Development has announced the completion of four towers out of its six towers in Dubai Marina, including its Dhs350m Dorrabay project. Handing-over process is in place with clients already receiving their keys to move in...more

Dubai-based Damac Properties has announced that it has commenced the handover process at Terra Del Sol, the company's project at Discovery Gardens. Two buildings comprising of 99 units each, Terra Del Sol one and two are part of the Discovery Gardens proj...more

Abu Dhabi Municipality has contracted Emaar Properties to build Sheikh Khalifa bin Zayed City in New Cairo, Egypt, at a cost of $100m. The city is a gift from President His Highness Sheikh Khalifa bin Zayed Al Nahyan, Ruler of Abu Dhabi, to Egyptian youth...more

Property developer Damac has denied media reports saying it had sold a 40% stake in the company. Niall McLoughlin, senior VP for corporate communications, released the statement after Turkish newspaper Vatan issued an earlier report regarding a 40% sale o...more

Hydra Properties, a UAE-based property developer, has announced that it will develop a new mixed-use project in Sharjah that is expected to have a resident population of 50,000. Hydra Village Sharjah will be made up of residential, office, retail and leis...more