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Development projects to continueMonday, August 31, 2009ISLAMABAD: Capital Development Authority (CDA) is thrashing out a well though out strategy to tackle problem of financial resources’ shortage and in a month’s time, there is likelihood of the emergence of a plan to counter this problem, a well-placed source in the authority told this news agency “Emphasis”, he said,” would be laid on finding alternate methods of generating income besides se ... more |
DHA Cogen power, desalination plant recommissionedFriday, August 28, 2009Karachi: The Cogen Power and Desalination Plant of the Defence Housing Authority (DHA) was recommissioned at the Defence Authority Country and Golf Club on Thursday. Nasim Khan, Defence Cogen Ltd (DCL) Managing Director (MD) and representative of Ashmore Energy International (AEI), informed the gathering that the damaged Cogen plant had been repaired and was producing water and electricity ... more |
Construction of illegal buildings, SC orders arrest of plaza builderThursday, August 27, 2009LAHORE: Hearing a case of high-rise buildings in the city on Wednesday, the Supreme Court of Pakistan had the owner of Salaar Plaza arrested for not depositing fine, observing that the court would not allow lawlessness in the country. The plaza owner, Rana Naeem, was fined Rs 50 million for illegal construction but he gave a cheque which was dishonoured by the bank concerned. The court ... more |
Residential property prices in Malta continuing to fallWednesday, August 26, 2009Property prices in Malta are continuing to fall with both apartments and houses seeing lower asking prices, according to the Central Bank's property price index. Figures published in the bank's Quarterly Review shows that the Mediterranean island's year long real estate slowdown accelerated in the first three months of this year. The index dropped 9.9% on a year earlier with almost half of ... more |
Islamabad: CDA seeks ideas for beautification, says chairmanWednesday, August 26, 2009Islamabad: The Capital Development Authority (CDA) would involve youth force, likewise the developed countries to seek fresh ideas in the execution of development projects, CDA Chairman Imtiaz Inayat Elahi said Tuesday. Addressing a prize distribution ceremony for winners of the competition of making imaginary themes to beautify newly constructed projects, the CDA chief said the freshness a ... more |
RDA approves road network for new airportWednesday, August 26, 2009Rawalpindi Development Authority (RDA) Tuesday approved the road network for the new Benazir Bhutto International Airport (BBIA). The officials in the RDA told ‘The News’ that task has been assigned to the National Highway Authority (NHA) for providing a safe, efficient, time saving and congestion-free access to the new airport. NHA chairman briefed the participants on the routes and t ... more |
Top economist bullish about Chinese real estate recoveryFriday, August 21, 2009The rebound in the Chinese property market is sustainable and could see real estate investment increase by 30% in 2010, it is claimed. According to Fan Gang, an economist who advises the central bank, it is the real estate recovery that will become a driving force in a V-shaped economic recovery. 'China's property industry cannot only create great wealth but also form an important basi ... more |
Financial woes of major Irish developer could flood the market with cheap propertiesTuesday, August 18, 2009The beleaguered Irish property market could be flooded with cheap apartments and half built office blocks after the country's Supreme Court ruled that companies belonging to Dublin's biggest real estate developer, Liam Carroll, should be placed in liquidation. Carroll is reputed to have built more apartments in Dublin than any other developer and is also a major investor in the Irish stock ... more |
Property shortage in New Zealand set to kick off real estate price boomTuesday, August 18, 2009A shortage of residential property in New Zealand's largest city could result in a real estate boom with prices rising 30% in the next three years, it is claimed. A study by forecaster Infometrics predicts an annual price growth of 9.8% next year followed by annual increases of 9.2% until 2012 in Auckland because of a severe shortage of supply. Researchers point out that the country's ... more |
Jamshed town launches uplift projectTuesday, August 18, 2009Karachi: The Jamshed Town Administration has launched the Shuhada-e-Haq Developmental Package in Union Councils (UC) 8 and 9, Lines Area. City Nazim Syed Mustafa Kamal along with Nazim Jamshed Town, Javed Ahmed, inaugurated the mega project which includes 24 development projects and carries a whopping budget of Rs160 million. In the launching ceremony, residents of the area greeted the City ... more |
Property transactions stabilising in DubaiMonday, August 17, 2009Residential asking prices for property in Dubai have plummeted 49% since the third quarter of last year with rents falling 35% in the same period, according to the latest published real estate report. The figures from international property advisors Jones Lang LaSalle are the latest in a long line of price reports that show that the emirate is still suffering considerably from the effect of ... more |
Major Gulf developer admits a fifth of investors on flagship project are behind with paymentsMonday, August 10, 2009Around 20% of property investors with Abu Dhabi based Hydra Properties are struggling to meet payments on its flagship development, the company has admitted. The property company has been dogged by complaints from investors that its $545 million Hydra Village project is well behind schedule and prices increases have been imposed without consultation. They are also furious that those wh ... more |
Model ‘forest park’ to be developed near Rawal LakeWednesday, August 05, 2009Islamabad: The first-ever model forestry park, spread over an area of 350 acres, will be developed near Rawal Lake. Sources in the Capital Development Authority (CDA) told ‘The News’ that the park will be developed in five years at a cost of Rs239 million. The park will be divided into blocks of 4 to 10 acres. These blocks will be given to government and private sector institutions in addit ... more |
Model ‘forest park’ to be developed near Rawal LakeWednesday, August 05, 2009Islamabad: The first-ever model forestry park, spread over an area of 350 acres, will be developed near Rawal Lake. Sources in the Capital Development Authority (CDA) told ‘The News’ that the park will be developed in five years at a cost of Rs239 million. The park will be divided into blocks of 4 to 10 acres. These blocks will be given to government and private sector institutions in addit ... more |
Development still poses huge threat to Spanish coastlinesTuesday, August 04, 2009Environmentalists are warning that many protected coastal areas in Spain are under threat from property development, some of which they claim is illegal. A new report from international eco campaigners Greenpeace, Destruction at all Coasts 2009, says up to 8,000 kilometres of coast are threatened. It looked at 233 protected areas and found that 120 of them are under threat from construction ... more |
New property builds decline in New Zealand ahead of real estate rule changesTuesday, August 04, 2009The number of new properties being built in New Zealand is falling despite new stock being regarded as a key part of efforts to lead the economy out of recession. Home building approvals fell for the first time in three months in June, signalling that lower mortgage rates are yet to kick start sustained demand for property. Official figures from Statistics New Zealand showed that permi ... more |
Falling prices and excess of supply in Dubai will mean better deals for tenantsMonday, August 03, 2009All real estate markets in Dubai are continuing to experience price falls but the rate of decline is slowing and there is cautious optimism that the bottom could be reached before the end of the year, according to the latest analysis. Property investors are preferring to lease rather than selling when the market is at such a low point so they are hanging on rather than accept low offers, sa ... more |
Real estate market observers in US talking of recoveryMonday, August 03, 2009Residential property prices are soaring beyond expectations in many markets in the US with analysts and market observers starting to talk about a recovery and growing confidence in the real estate sector. Many are eagerly talking about a slowing of declines in home sales and median sales prices across the US. Phrases being used include 'housing bottom' and 'recovery in sight,' with several ... more |
CDA directed to submit report in Sector E-12 caseMonday, August 03, 2009Justice Muhammad Ramzan Chaudhry of the Islamabad High Court (IHC) here on Tuesday directed the Capital Development Authority (CDA) officials to submit a detailed report before the court regarding the status of the land in Sector E-12. Earlier, the chief justice of the IHC had taken a suo moto action on the land dispute after a man through a letter intimated the court that the CDA had annou ... more |
