Azizi Investments - a Dubai-based property developer recently established its intention to augment its land operations by acquiring 920,000 sq ft of land at Palm Jebel Ali and Dubai World Central. These projects at these two sites are estimated at $1bn value.

The development contracts for Al Khor and Wakrah cities may be pocketed by Barwa Real Estate. Public Works Authority is no longer being considered for awarding the contract. As per the Peninsula newspaper report, two parties will be hired simultaneously for speedy completion of work.

Al-Khobar, Saudi Arabia: The Governor of the Eastern Province, Prince Mohammed ibn Fahd, recently broke ground for Alkhobar Lakes. The site of the multi-billion dollar master-planned community developed by Emaar Middle East was toured by Prince Mohammed, who expressed confidence that the project would contribute to the socio-economic growth of the region.

Abu Dhabi, UAE: Amana Contracting and Steel Buildings, a Middle East turnkey contractor, with over 1,500 buildings to its credit in the Middle East, recently announced that it had been awarded an AED85 million contract. The contract was awarded by Abu Dhabi National Oil Company (Adnoc) for the construction of a new research centre for Takreer.

Abu Dhabi, UAE: According to a report release recently the main cause of rising inflation in the Emirate of Abu Dhabi are escalating rents. The consensus is that these rising rents have engulfed all vital sectors of production and consumption, causing the prices of other goods and services to go up as well.

Dubai, UAE: The construction of five labour villages is on track according to a recent announcement made by Dubai Industrial City (DIC). DIC is located adjacent to the Dubai World Central’s Al Maktoum International Airport and lies in close proximity to Jebel Ali Port and Free Zone. All major highways such as Shaikh Zayed Road, Emirates Road and the Dubai Ring Road are easily accessible from this 560 million square feet development.

Ajman’s Marmooka City to house Crescent Towers Dubai, UAE: Crescent Towers, a residential project located in Ajman’s Marmooka City, which is being developed by Al Jabal Holdings, has officially been launched. The project is set on the 12-lane Emirates Road highway which connects Ajman to Dubai and is a short distance from the Arabian Sea.

Dubai, UAE: Securing office space in Fortune Tower, located in Jumeirah Lakes Towers (JLT), Dubai, has now become easier with the recent announcement by Tamweel PJSC, the UAE’s largest provider of real estate finance, that it will offer commercial finance to businesses interested in buying office space in the project.

According to Iyad Duwaji, CEO, Shuaa Capital, the UAE’s largest investment bank, Emaar Properties is undervalued. In an interview given to Arabian Business, he said, “I believe people have really turned sour on Emaar for sentimental reasons. The consensus of analysts is that Emaar should be trading closer to the 18 to 20 dirhams range.”

A contract worth AED 162 million for the mechanical, electrical and plumbing works (MEP) at the 5-star Fairmont Palm Hotel & Resort has been awarded to Drake & Scull International (DSI), a leading end-to-end service provider of MEP services. The project is located on the western portion of the Trunk of Palm Jumeirah in Dubai.