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Real estate prices in Bulgaria still too high for property market revival, reports indicateFriday, January 29, 2010The real estate market in Bulgaria is not expected to see a sudden revival in 2010 as prices are still perceived to be too high, according to the latest industry reports. Those who are interested in buying are looking for bargains. The most popular property is currently apartments in Bulgaria’s capital Sofia and Varna, the third largest city in the country, that are priced around €40,000, a ... more |
New real estate law in Dubai to tackle failing developers and cancelled contractsFriday, January 29, 2010More new real estate laws being considered for Dubai which will give investors grounds to cancel their contracts if they fall victim to failing developers and aimed at restoring confidence in the emirate’s property market. The real estate investor protection law, which is being looked at by the Land Department of Dubai, will detail grounds upon which a property buyer may demand cancellation of ... more |
Govt to launch low-cost housing: CMThursday, January 28, 2010CHIEF Minister Mian Shahbaz Sharif has said that the government will launch the low-cost housing schemes in collaboration with the private sector to provide residential facilities to people. He was chairing a meeting which discussed the low-cost housing schemes here on Wednesday. Punjab Assembly members, including Maj (Retd) Abdul Rehman Rana, Imran Ashraf, Secretary Advisory Council K ... more |
‘Land mafia eyeing heritage sites’Thursday, January 28, 2010Karachi: Conservation architect and Heritage Foundation Chief Executive Yasmeen Lari has bemoaned the demolition of historical buildings on M.A Jinnah Road at the hands of the Karachi Building Control Authority (KBCA), and has appealed to the media for help in safeguarding the remaining historical buildings. She pointed out that the land mafia was adamant to demolish historical buildings and rep ... more |
Movements in the Dubai real estate market will be marked by demand, latest overview report showsWednesday, January 27, 2010Demand is likely to be the main driver of real estate performance across all sectors in Dubai in 2010, according to the latest analysis. The Dubai office market is becoming increasingly favorable for tenants as it is witnessing a significant demand-supply mismatch along with falling rentals and increased vacancies, says a new report from consultants Jones Lang LaSalle. While demand lev ... more |
PEC drops plan to set up IMAX Theatre in LahoreSunday, January 24, 2010LAHORE - Punjab Entertainment Company has changed its plans to set up IMAX Theatre in Lahore after facing stiff opposition. It is now going to launch the said project at Faisalabad, authorities concerned told The Nation on Monday. The sources said that delays in the project had badly damaged the technical equipment worth $2 million which was purchased in 2006. Now the sources said the compa ... more |
Egypt govt confirms new property tax will go ahead but graduallyFriday, January 22, 2010The new property tax law in Egypt is likely to be introduced gradually, the country’s president has confirmed. President Mubarak said there are no plans to change the tax which is facing considerable opposition from those that claim it will be too much for a recovering real estate market as it will make owning property more expensive. A government spokesman said that the property tax w ... more |
Analysts confident that London office market will lead commercial property recoveryThursday, January 21, 2010London office market is facing a bright future as a number of reports reflect positive outlooks for 2010 and 2011. Central London’s office market will see continued improvement in 2010 following a turbulent 2009, according to Jones Lang LaSalle’s latest office research. It describes 2009 was an exceptional year following a dire first quarter with widespread fears of tenant disposals, l ... more |
Action against bogus housing schemesThursday, January 21, 2010Lahore: After the crackdown on illegal plazas in the city, the Lahore Development Authority has decided to launch an operation against bogus private housing schemes in the provincial capital. According to a press release issued on Monday, the LDA has cautioned the citizens against fraudulent private housing schemes, directing them to be careful in buying new plots without checking the legal ... more |
Bhara Kahu housing colony construction startsThursday, January 21, 2010Islamabad: Ministry of Housing and Works has started levelling of the land in Bhara Kahu for the construction of housing colony while construction of roads is underway and will be completed soon, said Federal Government Employees Housing Foundation (FGEHF) Director Finance Kashif Ahmed Noor on Wednesday. Talking to this news agency he said all arrangements had been made to launch the first ... more |
Latest real estate report suggest property prices in Dubai are stabilisingThursday, January 14, 2010Property prices in Dubai stabilised in the fourth quarter of 2009 and transaction levels are also improving, according to a new report. Sales prices for apartments and villas in completed developments across the emirate improved according to the latest data from property services company Asteco. A better economic outlook and better mortgage availability has helped, it says. In 2009, the a ... more |
Property prices rise again in Canada but bank dismisses talk of a real estate bubbleThursday, January 14, 2010New property prices rose more than expected in Canada rising 0.4% in November, the fifth monthly rise in a row and adding confidence for the real estate market outlook for 2010. The latest published figures from Statistics Canada also show that on a yearly basis, prices fell 1.4% in November following a 2.1% decline in October. The pick-up in new housing prices follows news from Canada Mor ... more |
Seasonal dip sees UK property recovery slow but outlook still positive, according to reportTuesday, January 12, 2010Residential property prices in the UK rose at a slower pace in December but fresh demand is still outstripping supply, according to surveyors. For the seventh consecutive month, more chartered surveyors are reporting that the number of new instructions is increasing rather than falling, the latest report from the Royal Institution of Chartered Surveyors published today shows. Although ... more |
New deal will make Dubai property market more transparent and professional, it is claimedMonday, January 11, 2010A new agreement between the Real Estate Regulatory Agency and the Ministry of Labour in Dubai is set to increase transparency and professionalism in the emirate’s property market, it is claimed. The deal will see real estate brokers in the emirate officially recognised as a separate professional category and allow RERA to further clampdown on rogue operators. New labour cards and residency ... more |
Shopowners of demolished plazas to be compensatedMonday, January 11, 2010Lahore: The Punjab government has directed the Lahore Development Authority (LDA) and the City District Government Lahore (CDGL) to recover the financial loss incurred by those who had bought shops and flats in the 20 plazas completely or partially demolished by the two agencies – from the owners of the buildings and the delinquent officials who had allowed the illegal construction. Accordi ... more |
CDA destroys green lawns in Sector I-9Monday, January 11, 2010The Enforcement Directorate staff of the Capital Development Authority (CDA) on Monday carried out what they called an anti-encroachment operation in Sector I-9 and destroyed the lawns that the owners of private houses have developed and tended for decades. The CDA carried out this surprise anti-encroachment operation at around 10 a.m., which lasted for about a little over half an hour duri ... more |
Burj finally opened in Dubai with new name amid hope that it will signal a real estate recoveryTuesday, January 05, 2010The world’s tallest property finally opened yesterday with a new name and official confirmation of its final height. The $1.5 billion Burj Dubai was renamed Burj Khalifa on Monday night in honour of Sheikh Khalifa bin Zayed al-Nahyan, ruler of neighbouring Abu Dhabi, during a glitzy ceremony which officials hope will inject some optimism into the emirate’s beleaguered real estate market. ... more |
LDA seals four factories in Garden TownMonday, January 04, 2010LAHORE: The Enforcement Directorate of the Lahore Development Authority (LDA) sealed four factories in Garden Town on Sunday. The factories were operating in the residential area and were allegedly involved in industrial and commercial activities, in violation of government laws. The factories were situated in plots no 137, 163, 164 and 169 of the Garden Block. In another incident, LDA pe ... more |
