Nationals Get 5-Year Extension Period for Property Construction

DUBAI — His Highness Shaikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, has ordered an additional five-year extension period for construction on the land granted for UAE nationals.

UAE nationals who have acquired land from the Mohammed bin Rashid Housing Establishment (MRHE) will receive an extra five years to build on their land.

The same ruling applies to UAE nationals who have acquired their land before the founding of the housing establishment, said Sami Gargash, Executive Director of the MRHE, according to a statement on Saturday.

The period would otherwise have ended by February 2010.

This gesture, which is coming after the waiver on the administrative fees previously imposed on the UAE national is to support UAE nationals, said Mohammed Ibrahim Al Shaibani, Director of the Court of the Ruler of Dubai, who is also the Chairman of the Board of Directors of MRHE.

According to officials at the Government of Dubai, the time period extension has been added to assist the UAE nationals, and to help them take advantage of a reduction in prices of construction material.

By: Ibrahim Haj Hamad
Khaleejtimes

Dubai Property | Dubai Real Estate

Asia’s biggest mall in Philippines

If there is Mall of America in United States, Cevahir shopping mall in Europe; Mall of the Emirates, which is the current biggest shopping mall in the Middle East, and West Edmonton mall in Canada, Now Southeast Asia’s biggest mall is in Paradise Philippines, the “Mall of Asia”.

Located west of Roxas Boulevard in Pasay City, the Mall of Asia is aptly nicknamed as the "Bay City." It is built on 19.5 hectares of reclaimed land and has a gross floor area of 386,224 square meters. Mall of Asia in paradise Philippines has a lot to give for its shoppers. It consists of main mall, which include shopping and dining establishments. All the shops you could think of are here.

for more read Philippine travel guide or you can visit our other entry in

Paradise Philippines documentation
Paradise Philippines travel Guide
Paradise Philippines New Reality
Paradise Philippines Blogger

Dubai Investments reports un-audited net profit of AED 991 million for 2006, a growth of 45 per cent over last year

Dubai Investments PJSC ('DI') reported exceptional un-audited results for the year 2006, with a consolidated total income of AED 2.07 billion, which is 34 per cent more than the total income of AED 1.54 billion achieved last year.

he net profit for the period was AED 991 million Dubai Real estate, which is 45 per cent more than the net profit of AED 684 million reported last year.

The Return on average equity ('ROE') is Dubai Realestate estimated at 37 per cent p.a, while the total assets have increased to AED 6.37 billion, a growth of 98 per cent over the total assets of AED 3.21 billion last year.

Khalid Kalban, Managing Director and Chief Executive Officer, Dubai Investments, said,

'These exceptional Property Dubai results were the product of excellent performances by group entities. The year 2006 was undoubtedly a remarkable year for Dubai Investments as we strategically expanded and diversified our business interests. Among key achievements of 2006 were the setting up of our real estate arm Dubai Investments Real Estate Company and the launch of Glass LLC, the region's first glass holding Real estate DUbai company. We are focused on carrying forward the momentum into 2007 as we gear up for an even more successful year.'

Dubai Investments also announced that the Total Shareholders' Equity has increased to AED 3.61 billion, a growth of 103 per cent over the Total Shareholders' Equity of AED 1.78 billion last year, mainly on account of substantial net profit achieved and an increase in capital of AED 858 million as a result of rights issue during the year.

Dubai Real Estate Agents STEAL photos from Forums for their own use

You know the really cool thing about the Internet (apart from this blog) is that little people can have a big impact on many people all over the world. By little people I mean the ordinary Tom,Dick and Harry (or is it Hari?) on the street who dedicates his time and effort to a passion which then becomes an Internet site and gives much pleasure and help to many.

One such site is SkyScraprerCity.com ok it seem's on the outset to be a "Big Buildings geeks" guide to the world of errm Big Buildings but delve a little deeper and you find a vibrant community discussing property investment , Architecture and all sorts of other sutff. I have been using this site for nearly a year now mainly the UAE Forum section as it is geared towards my area of the world, it provides the BEST bar NONE construction updates to the massive building boom in Dubai with pictures. If you want to buy in Dubai look here first ask for advice and you will get it , if you have already bought in Dubai and want to know how far your new home as progressed look here they will even have pictures of the building work all very up to date.

These very same pictures are now causing a stir on the forums and I hope further a field. For every building in "Dubai Real Estate" there is about 10 agents trying to flog apartments to people , and they all want cool pictures of construction progression to show clients especially those abroad, I mean i wouldn't make a payment on my property if i thought the construction had stopped. So what do the bigger estate agents do? Yes you guessed it they STEAL the photos from this forum and post them on their own site without any credit to the original photographers who are just normal "little" people taking photos for the love of it and not for commercial gain. Some estate agents such as GoWealthy (one of the biggest) proudly display photos stolen from the forum along side awards thy have got for their great work, they even watermark them so no one can steal the photos off their site, clever thinking sherlock.

The main perpetrates of this theft are :

GOWEALTHY and BETTER HOMES " Real Estate Dubai " , notice no links to their websites I don't want to give them any traffic.

For more info on this incident please visit the Thread on the forum and read their open message to the real estate companies.

I'm tired im off to bed to sleep I know I will sleep well tonight as for these kind of unscruplios pepople I have NO IDEA how they could get a good nights sleep at all.

If you want to help please email : editor@gowealthy.com and Click Here for the Better Homes Contact form and ask them why their site is using pictures from a SkyScraperCity.com.

Source:http://www.thedubailife.com/index.php/main/blog/real_estate_agents_steal_photos_from_forums_for_their_own_use