Property & Real Estate

DUBAI: NAZA TTDI Sdn Bhd is actively promoting its property to the Middle East market following a “high level” of interest received. Marketing and sales director SM Faliq SM Nasimuddin said in a statement many high profile investors from the Middle East had shown keen interest in the company’s projects particularly in its “jewel in the crown” RM3.5bil Platinum Park, comprising seven iconic towers of offices, service apartments, retail units and upmarket condominiums, in the Kuala Lumpur City Centre (KLCC). SM Faliq Nasimuddin SM Faliq said Middle Eastern investors were very astute when it came to choosing a good property. “In recent years they have shown keen interest in Malaysian properties particularly those in…. Click here to Read More

DUBAI: Khazanah Nasional Bhd’s Arab partners in the development of Medini, a 2,300-acre mixed project in Iskandar Malaysia, remain committed in spite of the global financial turbulence. “It comes down to fundamentals. If you look at comparable rents (in Johor), they are 20% to 10% of Singapore’s,” John A. Thomas, an executive director of Mubadala, told the media on Monday. Medini, a greenfield project in Nusajaya, Johor, was officially launched at Cityscape Dubai, an annual property exhibition, by Johor Mentri Besar Datuk Abdul Ghani Othman. Earlier, Ghani told the media that the new state administrative centre, located next to Medini, was almost completed and civil servants would soon be moving into the new offices. As…. Click here to Read More

Saudi Arabia’s quasi-parliament has approved a draft of the long-awaited mortgage law, paving the way for its approval by the government to allow more Saudis to own property and for banks to diversify income sources. The advisory Shura Council, whose 150 members are appointed by the king, on Tuesday ended a debate on four components of the mortgage law, state news agency SPA reported late on Tuesday. The law, which has been in the works for almost a decade, is hoped to allow much wider access to property ownership in a country where only one out of five Saudis owns a home, according to some realtors. The approval also comes at a time when Saudi Arabia, the world’s largest oil exporter, is struggling to manage excessive liquidity…. Click here to Read More