DUBAI, Sept 1 (Reuters) – Meraas Holding, a state-owned
property firm that is developing some of Dubai’s most ambitious
real estate projects, is in talks with banks to raise up to $4
billion, sources aware of the matter said on Monday.
Dubai has bounced back rapidly from a debt crisis in 2008,
when property prices fell by more than half, and state-linked
property companies have started work on several major projects
in the last two years.
DUBAI, Aug 31 (Reuters) – Emaar Properties will
launch its highly anticipated initial public offer of at least
15 percent of its shopping malls and retailing unit on Dubai’s
main stock market in September, and plans to list the shares in
The offer would be one of the largest equity sales in the
Middle East since 2008, underlining Dubai’s recovery from a
credit crisis that forced many state-linked developers to stall
projects, and some – though not Emaar – to restructure debt.
DUBAI, Aug 7 (Reuters) – Dubai mortgage lender Amlak Finance
said on Thursday that all its creditors had approved a
plan to restructure its debt, bringing to a close protracted
talks over the last major hangover from the emirate’s property
market crash of 2008.
Twenty-eight creditors had been seeking a deal with the
Islamic lender, which had its shares suspended from trade on the
Dubai Financial Market in November 2008 as the crash ravaged its
DUBAI, July 8 (Reuters) – Dubai Holding, the
investment vehicle of the emirate’s ruler, will need 25 billion
dirhams ($6.8 billion) to build an entertainment district that
will include the world’s largest shopping mall, its chief
executive said on Tuesday.
Sheikh Mohammed bin Rashid al-Maktoum announced on Saturday
plans to build the “Mall of the World”, encompassing an 8
million square foot mall connected to a theme park, 100 hotels
and serviced apartment buildings with 20,000 rooms.
KABUL (Reuters) – Thousands of angry protesters marched on the Afghan president’s palace on Friday in support of candidate Abdullah Abdullah’s allegations that mass fraud had been committed during the presidential election by organisers and state officials.
The run-off poll, pitting the former Northern Alliance leader against ex-finance minister Ashraf Ghani on June 14, has fallen into deadlock over Abdullah’s decision last week to drop out.
KABUL (Reuters) – Thousands of angry protesters marched on the Afghan president’s palace on Friday in support of candidate Abdullah Abdullah’s allegations that mass fraud had been committed during the presidential election by organizers and state officials.
The run-off pitting the former Northern Alliance leader against ex-finance minister Ashraf Ghani on June 14 has fallen into a deadlock over Abdullah’s decision to drop out last week.
KABUL (Reuters) – Protesters gathered in the Afghan capital on Saturday in support of presidential candidate Abdullah Abdullah’s accusation of vote fraud, and his call for the organisers to stop counting the ballots from the run-off election held a week ago.
Several hundred people gathered, disrupting traffic on the main road to the airport, as police were deployed with batons and riot shields to counter any violence.
KABUL (Reuters) – Afghan presidential candidate Abdullah Abdullah said on Monday his opponent’s apparent million-vote lead in the second round of national elections at the weekend was due to massive fraud.
Observers fear allegations of fraud on both sides could lead to a lengthy and paralyzing struggle for power along ethnic lines, threatening to derail attempts to transfer power democratically for the first time in Afghanistan’s history.
DUBAI, June 15 (Reuters) – “Keep calm. There’s no bubble”,
proclaimed a giant poster on a 40-storey building overlooking a
Dubai highway, advertising a property finding portal late last
year. That may have been true at the time, but the risks are
A leap in bank lending to the construction industry
indicates financial institutions have resumed pouring money into
real estate projects in the last few months, after cutting back
sharply in the wake of Dubai’s 2008 crash.
KABUL, June 14 (Reuters) – Millions of Afghans voted in a
mostly peaceful run-off to elect a successor to President Hamid
Karzai on Saturday, a decisive test of the country’s ambitions
to transfer power democratically for the first time in its
Most foreign troops will leave by the end of 2014, and
whoever takes over from Karzai will inherit a troubled country
plagued by an assertive Taliban insurgency and an economy
crippled by corruption and the weak rule of law.