| AME Info News - Real Estate |
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AME Info News - Real Estate
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US firm CH2M Hill wins major Qatar World Cup contract
Sat, 11 Feb 2012 13:34:43 +0400
Qatar's 2022 Supreme Committee has awarded US-based CH2M Hill Inc. the Gulf country's World Cup programme management contract and will oversee the construction of sports facilities in the country, slated to host the tournament in 2022. The management contract, originally slated to be awarded late last year, will oversee coordination with government agencies on large infrastructure projects, including the construction of nine new stadiums and upgrade of three existing ones. CH2M Hill, which employs 30,000 people worldwide, has 2,000 staff in the Middle East, of which 200 are currently based in Qatar. [AMEInfo.com]
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Rera blames air conditioning costs for Dubai service fee increase
Thu, 09 Feb 2012 10:52:28 +0400
Dubai's Real Estate Regulatory Agency (Rera) has said utility and chiller charges have led to an increase in service charges, despite the significant decline in maintenance charges, Emirates 24-7 has reported. "We have tried our level best to reduce maintenance fees, but all our efforts are hampered by the rising cost of utilities and chiller charges. We have taken up the issue with the respective agencies," said Mohammed Khalifa bin Hammad, senior director of Rera. "We have worked to reduce the maintenance charges in most developments. We don't approve any budget of any developer without reviewing them. They have to justify each and every increase that they have asked for," he added. [AMEInfo.com]
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Lebanon construction permits fell 6.8% last year
Wed, 08 Feb 2012 10:28:47 +0400
Lebanon's Order of Engineers of Beirut and Tripoli has said construction permits in the country fell by 6.8% last year, compared with the same period of 2010, The Daily Star has reported. Last December, construction permits witnessed a sixth consecutive year-on-year decline of 11.7%, the figures showed. During 2011, most of the demand for construction permits originated mainly from Mount Lebanon which captured a share of 61.1% of total permits, the data showed. [AMEInfo.com]
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Global office vacancies at two-year low, rents driven higher
Wed, 08 Feb 2012 10:27:46 +0400
According to a report by Jones Lang LaSalle, global office vacancies have dropped to their lowest level in two years, driving rents higher for an eighth straight quarter, Bloomberg has reported. Global vacancy edged to 13.6%, said the world's second-biggest publicly traded commercial property broker. Prime office rents have risen for eight straight quarters, climbing 0.8% over the September quarter and 6% from the same period a year ago, said the report. "The rental outlook for 2012 has been tempered by ongoing economic uncertainty, although we continue to expect positive rental growth in most major prime office markets," Jeremy Kelly, director at Jones Lang LaSalle's global research team, said in the report. [AMEInfo.com]
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Kingdom Holding opts to expand key Riyadh project
Tue, 07 Feb 2012 11:48:29 +0400
Kingdom Holding Co (KHC), the Saudi-based investment group chaired by Prince Alwaleed, has decided to expand its key project in Riyadh, Kingdom Centre (Trade Centre) at an investment of SR43.8m ($11.6m). The expansion is planned to include 26 new commercial stores with a total area of 3,580 sq m, in addition to 10 commercial stands occupying 157sqm, an 874sqm children recreation area 27 food stalls totalling 1,420 sq m, a 600sqm mosque, and common area and service facilities making up the 13,550sqm expansion. The Kingdom Centre occupies 94,230sqm of land comprising the Al Mamlaka shopping mall, and a 300-metre office tower which was, when built, the tallest building in the Middle East. [AMEInfo.com]
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