The UK property market continued its slump in August as the Royal Institution of Chartered Surveyors (RICS) said sales were at their lowest level since 1978. This comes as news that the output of the UK economy fell from June to August, according to the National Institute of Economic and Social Research (NIESR). The output of the economy fell 0.2% during July in the think tank’s latest...
Madean Al Nour for Investments and Real Estate Development has signed a JD68.5 million (US$96.6 million) agreement with the Jordanian Housing and Urban Development Corporation to provide houses under the national construction initiative. Under the agreement, Madean Al Nour will construct 2148 housing units in the City of the Custodian of the Two Holy Mosques in Zarqa. The new construction is part of the...
The New Zealand dollar has continued its decline, leading to increased interest in the country from international investors. In early September, the Kiwi dollar could buy just .47 Euros, .68 US dollars, and .38 British Pounds. That low rate means that, even for Americans, the country offers great bargains for real estate buyers from abroad. Realtors in New Zealand have been marketing their properties to...
September - Both the European Central Bank and the Bank of England decided to keep their benchmark interest rates at the current amount. The two major European banks are waiting to see what will happen with inflation and the economy in the coming weeks and months before making any further moves. The benchmark rate for the Bank of England is currently at 5%, while the ECB’s main rate is at 4.25%. Bank...
European Commission president Jose Manuel Barroso indicated in recent comments that Serbia could become a candidate for membership in the European Union as early as next year. He also said the country could get trade concessions even sooner with the arrest of former Bosnian Serb military commander Ratko Mladic. Barroso set 2009 as a possible date for candidate status as he attempts to help reformers in...
A number of airlines have announced special deals and additional flights for Ramadan. Lufhthansa German Airlines is offering customers a chance to fly from Abu Dhabi or Dubai to 31 destinations in Europe for special pricing. Etihad Airways, the national airline of the United Arab Emirates is offering special fares during the month of Ramadan to selected destinations around the world from Kuwait via Abu...
Once the most desired holiday destination in France and much of Europe, Biarritz long ago surrendered that title to the resorts along the Mediterranean Coast. In recent years, though, this town just north of the Spanish border along the Bay of Biscay has been rediscovered by those looking for something different. The golden beaches have always been the main draw for visitors and holiday homeowners, but...
Adding to three previous towers the fourth Champions Tower has been launched Dubai’s Sports City (DSC). Memon Investments, a leading Dubai-based property developer and part of the Memon Group of Companies, announced the launch of the €42.4 million (AED 250 million) recently. The Champions Tower IV will have 20 floors and will house 228 residential units with studios, one-bedroom and two-bedroom...
Dubai’s Burj Dubai Tower has reached a new record height of 688 meters, according to the developer Emaar Properties. The building became the world’s tallest structure after surpassing a TV tower in the United States earlier this year, and is well on its way to becoming the tallest structure in the world in several categories. It will be the tallest building, have the highest occupied floor and the...
The United Kingdom’s largest coalminer is quickly becoming one of the country’s largest property developers. UK Coal recently announced plans to develop the largest ever brownfield development in South Yorkshire. The plans allow for some 4,000 new homes at the company’s former coke works and mining site near Catliffe. The 741 acre site is to be redeveloped over the next 20 years through the...