CDA to upgrade Garden Avenue into a dual carriageway

Islamabad: The Capital Development Authority (CDA) is all set to launch the project to improve the existing Garden Avenue into a dual carriageway as well as resume work on the stalled Kashmir Expressway project during the current fiscal year.

Sources in the CDA told ‘The News’ that physical work on the project to dualise the existing single Garden Avenue starting from the I-8 Inte ... more

Housing programme for low income groups reviewed

Sindh: Sindh Chief Minister (CM) Syed Qaim Ali Shah has said that the present government was implementing Shaheed Bhutto’s programme of Roti-Kapra-Mukan to provide shelter to homeless people.

In this regard, poor families would be provided houses under the Shaheed Benazir Bhutto Housing Programme for the poor in various cities of the province.

Chairing an important mee ... more

Top primary schools can add up to 4.6% to the value of a property, report shows

High performing primary schools add value to property prices across all regions of the UK but particularly in Yorkshire and Humberside, according to a new report.

A 10% higher Standard Assessment Tests attainment equates to an average property price premium of 3.3% as families are prepared to pay more to live near a good school, research from the Nationwide Building Society shows. ... more

Scottish commerical property market see first growth for two years but outlook still subdued

Scottish commercial property has seen its first quarter of positive capital growth in over two years with capital growth of 1.1% in the third quarter of 2009, according to a new report.

It is going along with the general market trend in the rest of the UK which also saw positive growth with capital values rising 1.5% and total returns of 3.4%, says the report from CB Richard Ellis ... more

Al-Noor town residents dismayed by delay in sewage works

LAHORE: An excessive delay in laying sewerage pipelines after having dup up various sites is proving problematic for the residents of Alnoor Town, an adjacent locality to the Defence Housing Authority.

The area’s residents told Daily Times on Saturday that their streets had become “trenches coupled with heaps of dust” after the Walton Cantt Board started laying sewerage pipelines  ... more

CDA to improve infrastructure in G, I series sectors

Islamabad: The Capital Development Authority (CDA) is making all out efforts for provision of basic amenities and improving infrastructure in the markets especially in sectors of G and I series to facilitate the residents and business community.

All future development projects would be executed in collaboration with the stakeholders particularly the traders community.

 ... more

Global construction industry optimistic about 2010 but report warns recession impact yet to come

The construction industry worldwide is quietly confident about the 2010 despite the deepest recession for 60 years with most believing that profits will stay the same or increase by the middle of next year.

Almost two thirds of construction firms who took part in the annual global construction survey by KPMG were positive.

The research, covering 30 countries, found tha ... more

Gloomy outlook for Dubai property market

It could take a decade for Dubai’s troubled property market to recover with the latest published report indicating prices could fall by up to 30% from current levels.

The outlook from analysts at investment bank UBS is extremely pessimistic. Despite real estate prices in the city already falling at least 50% from the peak of the market in 2008, the UBS report sees another 20 to 30 ... more

Rs 1.2 billion RDA project: Construction of parking plaza to start i

Rawalpindi: Rawalpindi Development Authority (RDA) on Thursday asked Regional Transport Authority (RTA) to vacate the wagon stand at Fawara Chowk to start construction of Rs 1.2 billion multi-storey Parking Plaza.

A well-placed source in RDA told Daily Times that RDA Director General Makeen Shahbaz had written to Secretary RTA to immediately shift the wagon stand from Fawara Chowk ... more

City bonuses and foreign cash injects competition into the UK property market

A shortage of supply and increase in buyers across the UK will continue into 2010 as foreign buyers and those with City bonuses compete for the very best real estate.

The latest predictions for the real estate market next year are optimistic with experts agreeing that although prices are likely to soften in the Spring, a shortage of supply means that the majority of good houses ar ... more

Cash purchases for property to be banned in Bulgaria

All real estate transactions in Bulgaria from January 2010 are set be conducted through bank transfers, outlawing cash purchases.

An amendment to the country’s Notary Act put forward by the Justice Ministry is set to be approved by Parliament before the end of the year.

The aim is to reduce real estate fraud and money laundering, an official said.

The chang ... more

Off plan recovery in Dubai unlikely for two years, according to property industry experts

A recovery in the off-plan property market in Dubai is unlikely before 2011 and even that will only happen if developers concentrate on quality and win back investors dented confidence, it is claimed.

Developers also need to tie pricing plans to constructions milestones in order to win back investors who have been put off by delays and cancellations caused by the economic downturn ... more

DHA head reviews development work

KARACHI - Administrator DHA Brig Khalid Tirmizi visited the infrastructure development site of DHA Phase-VIII to review the progress of work being carried out in the area. Engineers of DHA Phase VIII, contractors concerned and project consultants were present on the occasion. DHA Phase-VIII is spread over an area of approx 4,150 acres of land, which is almost half the size of total DHA and ha ... more

The Bank of England maintains interest rate level

Following the Bank of England’s decision to maintain interest rates at their present level, James Roberts, head of Central London commercial research, Knight Frank, commented: ‘I would have preferred to see the Bank take a wait-and-see approach to further Quantitative Easing, as the actual condition of the UK economy appears uncertain.

The first estimate of Q3 GDP released last m ... more

New laws for real estate in Abu Dhabi expected in the new year

New laws to help make the real estate market in Abu Dhabi more transparent and safer for buyers are expected to be introduced in the early months of next year.

Officials at the Department of Municipal Affairs are currently drawing up the necessary draft documents that will cover escrow accounts, brokers, titles and mortgages.

Regulations covering planning and building  ... more

DHA Executive Board approves Rs 6.6 billion budget for 2009-10

KARACHI: The DHA Executive Board in a meeting on Monday approved a record budget of Rs 6.6 billion for undertaking development works in the DHA for the fiscal year 2009-10.

The development works include infrastructure development of Phase-VIII, construction of a flyover at Ittehad-Korangi Road, a flyover at Sundial Chowk, an underpass at Creek Avenue, repair work of the sea wall a ... more

CCPO orders action against land grabbers

LAHORE: Capital City Police Officer Pervaiz Rathore has directed police to take stern action against land grabbers and squatters.

He said police had a compiled list of 43 land grabbers in Lahore had been made and a crackdown had been ordered against these to bring an end to the “land mafia”.

The CCPO said, “We have to transform Lahore into a city where no powerful man  ... more

Massive OZ house price increases puts heat on interest rates

The Reserve Bank of Australia is expected to put up interest rates when it meets this week after the latest property index showed a massive 3.7% rise in real estate prices.

Residential property prices in Australia are now at a six year high as the country has escaped the worst of the global economic crisis and even the decrease in first time buyer grants has failed so far to have  ... more

CDA decides to change location of Forestry Park

The Capital Development Authority (CDA) decided to change the location of Forestry Park from earlier proposed area near Rawal Dam to Bani Gala, the sources told ‘The News’ here on Saturday.

The sources said the decision to change the location of the Forestry Park has been taken after failure of CDA to acquire land, mainly due to opposition from an influential government figure who ... more