AME Info, Abu Dhabi, United Arab Emirates, Real Estate Briefs Column

By AME Info, Abu Dhabi, United Arab Emirates

Oct. 9–ABU DHABI RENTS TO SOAR TILL 2010: Rents in Abu Dhabi will keep rising until the end of the decade, as demand for housing will continue to outpace supply, according to a report by the Abu Dhabi-based investment bank The National Investor. After a large number of projects are delivered in 2010, there is likely to be an oversupply that could threaten the value of the local housing market, the report said.

ADIH HANDS OVER 59 UNITS: The Abu Dhabi Investment House (ADHI) has handed over 59 commercial outlets at The Lagoon, the commercial complex at Amwaj Islands, as part of phase I. The $90m project consists of eight low rise sea-front blocks which will house restaurant and retail outlets to residents and visitors to Amwaj Islands, a 2.75 million square meter development in Muharraq. Two more phases are left to be handed over by end of this year.

TAMEER IN $500M JORDAN PROJECT: Tameer International, a subsidiary of UAE-based Tameer Holdings, is planning a $500m project in Jordan, reported Gulf News. The Madinat Al Majd project, the firm’s first foray into Jordan, will cover an area of two million square metres and offer 18,500 residential units. The site is located 25 kilometers from Amman.

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