REAL ESTATE

Arcapita acquires industrial real estate in USNovember 14, 2018

Arcapita, a global leader in Shari’ah-compliant alternative investments, has acquired a seven-property industrial real estate portfolio in Cleveland, Ohio, US.

The Cleveland portfolio comprises 655,000 sq ft of high-quality industrial assets within the metropolitan area and is occupied by a diverse range of creditworthy tenants operating in the logistics, technology,"...

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Construction in downtown Amman ‘further hindering businesses’November 13, 2018

AMMAN — The construction work in downtown Amman, which commenced around two weeks ago, angered shop owners who claimed it is the cause of a sharp decline to their already-troubled businesses.

The Greater Amman Municipality (GAM) said that the lane widening of roads is part of the plan to make downtown Amman “more accessible to people”.

GAM spokesperson,"...

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JD500,000 to be spent on Jaber crossing maintenanceNovember 7, 2018

AMMAN — The Lower House’s Public Service and Transportation Committee, led by MP Khaled Abu Hassan, on Tuesday commended the government’s responsiveness to the committee’s demands with regard to the maintenance and rehabilitation of the Jaber/Nasib border crossing.

The parliamentary committee’s demands included the disbursement of JD500,000 before the end of 2018, with the aim of floating a tender for the maintenance"...

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Housing developers turning away from Jordanian marketNovember 4, 2018

AMMAN — An estimated JD400-million worth of investments in the housing development sector have been withdrawn from the local market and directed towards nearby countries such as Turkey, Egypt and Dubai, according to the President of the Jordan Housing Developers Association (JHDA) Zuhair Omari.

“Housing developers are tempted to leave the local market because the business is taking the biggest hit that has been recorded in years,”"...

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Pantheon Development Announces CJ Tech Contracting As Main Contractor for Pantheon Elysee ProjectNovember 4, 2018

Pantheon Development, a subsidiary of Pantheon Group, on Thursday, announced CJ Tech Contracting (L.L.C) as the main contractor for the construction of its Pantheon Elysee project in Dubai. The future development has 268 residential units as well as commercial units.

Pantheon Elysee, valuing Dh180 million, is expected to be delivered in October 2020, before the start of the World Expo 2020 Dubai. The project located in Jumeirah Village Circle and it"...

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ThyssenKrupp CEO calls for restraint on global steel productionOctober 28, 2018

Steel makers in China and the rest of the world need to do more to reduce overcapacity, according to Guido Kerkhoff, chief executive officer of Germany’s ThyssenKrupp.

While China has made good progress in curbing over-production, there’s room for even more cuts, Mr Kerkhoff said in Shanghai on Saturday. The biggest steel making nation has reshaped the industry in the past three years by closing plants, tightening environmental controls"...

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Pantheon Development Part of the Best Drive Experience to Super Car Owners from Across the Globe within the UAEOctober 21, 2018

Pantheon Development, the real estate arm of Pantheon Group, a well-diversified global business conglomerate, collaborated with Ninth Degree Super Cars Club to offer the best drive experience to Super Car owners from across the globe. “Catch the Camel”, the most awaited 4 – day luxury tour began on Thursday and continued throughout this weekend around the Emirates until Sunday night.

“We are delighted to be part of this tremendous"...

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Workers’ housing cause of Al Hassan Industrial Estate wastewater leaksOctober 20, 2018

AMMAN — Authorities on Thursday said that housing units of factory workers in Al Hassan Industrial Estate in Ramtha are the source of wastewater that has been seeping into the vicinity of the industrial park.

Huge amounts of wastewater have been streaming around the Al Hassan Industrial Estate, according to the Ministry of Environment, which indicated that the Royal Rangers and the ministry’s teams tracked down the source of the leaking"...

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Square Yards Emerges As One Of The Largest PropTech Players In UAE Real Estate Market October 17, 2018

(AETOS Wire) -- Global real estate aggregator, Square Yards, today announced that it has crossed AED 2 Billion in Gross Transactional Value (GTV) in UAE, emerging as one of the largest PropTech players in the country. The company registered phenomenal growth in all three segments, namely Off-plan property (under construction developer sales), Secondary sales/leasing and Cross Border Real Estate targeting Non Resident Indians (NRIs) based in UAE. Square Yards’ Off-Plan business segment that focuses on under-construction projects in UAE clocked more than AED 300 million worth of property sales in the Jan-Sep period of 2018 registering an impressive 52% YOY growth. It has catapulted Square Yards’ position among one of the largest distributors & channel partner for most of the grade-A Dubai based property developers. The company’s Secondary and Leasing business, powered......

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Moody’s to Acquire Reis, a Leader in Commercial Real Estate DataOctober 17, 2018

(AETOS Wire) -- Moody’s Corporation (NYSE:MCO) and Reis, Inc. (NASDAQ:REIS) announced today that they have entered into a definitive merger agreement for Moody’s to acquire all outstanding shares of Reis in an all-cash transaction valued at approximately $278 million. The transaction has been approved by the Boards of Directors of both companies.

Reis is a leading provider of U.S. commercial real"...

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