InfoAnda - Slow show reveals crisis impact on Abu Dhabi property

Pakistanis angry over detentions in Times Sq. case
Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They

Taiwan denies boycotting Australian film festival
Thursday, August 6, 2009

AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e

Merkel's support dips, regional ally resigns International
Thursday, September 3, 2009

By Sarah Marsh and Noah Barkin

BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German

Minister seeks closure of anti-Berlusconi websites
Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who

Asian markets mixed after Wall Street rally
Wednesday, March 18, 2009

By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an

Car fleeing Calif. police hits pickup, killing 7 | 10 August 2009
Germany says Apple must improve data transparency | | 27 June 2010
World Bank ups China 2009 growth forecast | 18 June 2009

Jackson's This Is It passes $200 million worldwide | Entertainment | | 13 November 2009

Forum Views () Forum Replies ()

Read more with google mobile : Slow show reveals crisis impact on Abu Dhabi property

Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Photos Sitemap Slow show reveals crisis impact on Abu Dhabi property AFP - Monday, April 19 Send IM Story Print Visitors look at a model of the "Capital City District" project displayed at the Cityscape exhibition in the Emirati capital Abu Dhabi. A subdued opening to the "Cityscape Abu Dhabi" property show on Sunday underlined the impact of the global financial crisis and a shift in emphasis to the completion of projects already launched. ABU DHABI (AFP) - – A subdued opening to the "Cityscape Abu Dhabi" property show on Sunday underlined the impact of the global financial crisis and a shift in emphasis to the completion of projects already launched. "All projects are under construction" read a gigantic billboard put up by a major property developer on the road leading into Abu Dhabi -- to give the impression of business as usual. The four-day show has drawn 250 exhibitors from 35 countries. But business has changed dramatically from the pre-crisis era, when property developers in the United Arab Emirates (UAE), mainly Dubai and later Abu Dhabi, would sell massive projects off plan within hours of their being announced. No new projects appear likely to be announced at the show, which features dozens of glitzy models of projects announced during the Dubai-led property boom, which burst spectacularly in autumn 2008. Among them stands a huge scaled-down model of Abu Dhabi as it would look in 2030, if the government's masterplan keeps to schedule. "A lot of the schemes announced over the past four to five years have been slowed down," said Mark Morris Jones of research firm CB Richard Ellis, noting that developers have been looking at balancing delivery times with demand. "We had to look into some projects as the demand in the market has changed," said Ousama Ghannoum, marketing manager at ALDAR Properties, Abu Dhabi's largest developer by market value. He said developers are now focusing on "affordable housing" with less emphasis on the high-end market. Due to Abu Dhabi's oil wealth and a lack of newly developed property, the crisis has not hit hard like in Dubai, where prices have halved as investors vanished and thousands of new units went on the market. Only nine projects, worth 491 million dollars, have been cancelled in Abu Dhabi, while 42 others, valued at 6.8 billion dollars have been put on hold, according to a study by Proleads research company, published at the show. The study, which counts only projects with budgets of more 10 million dollars, said 307 projects, with a combined value of 153.9 billion dollars, have reached the execution stage. Another 104 projects worth 73.97 billion dollars are at a pre-execution phase, it said. The wealthy government of the emirate, which sits on almost all the oil reserves of the UAE, plays a major role in sustaining the pace of construction as it stands behind several landmark developments. The projects include building state-of-the-art branches for the Louvre and Guggenheim museums. Abu Dhabi, which is the Emirati capital, is also splashing out heavily on infrastructure, which is in turn helps the economy to overcome the impact of the global crisis. The strong financial footing of Abu Dhabi, mainly as oil prices have recovered, allows its government-linked developers to feel more comfortable than troubled Dubai firms. "I don't foresee that we will face any problems in financing our projects," said Carlos Obeid, chief financial officer at Mubadala, which is involved in grandiose projects in Abu Dhabi. He pointed out that Mubadala was in the final stages of securing a two-billion-dollar syndicated loan. "Abu Dhabi has strong fundamentals ... Mubadala is owned by the Abu Dhabi government," Obeid said, underscoring the comfortable position of the developer. Jones also said that Abu Dhabi "has been insulated," like Qatar and Saudi Arabia, in contrast to debt-laden Dubai and other property markets, thanks to their high liquidity levels. He also pointed out the level of property supply has not been as high as in Dubai, which has also been rife with speculative investments, while demand in the capital has been less volatile. "It is a question of supply. They (Abu Dhabi) are in a different point of development compared to Dubai, which is delivering huge amounts" of units, said Jones of the CB Richard Ellis research firm. "They are at a different place in the cycle" of market development, since Abu Dhabi launched its major property schemes later than Dubai, whose market was opened to foreign property investors in 2002, he said. Recommend Send IM Story Print News Search Top Stories Ocean census uncovers 'new world' of marine microbe life Volcano cloud pushes European airlines to the brink: analysts Discovery readies return to Earth unhampered by ash cloud Slow show reveals crisis impact on Abu Dhabi property IMF, EU, ECB visit to Greece delayed: official More Top Stories » ADVERTISEMENT Most Popular Most Viewed Most Recommended Airlines query flight ban as travel misery spreads Toad is a telltale for impending quakes: scientists Goldman fraud charges trigger possible wider crackdown Volcano cloud pushes European airlines to the brink: analysts Ocean census uncovers 'new world' of marine microbe life More Most Viewed » Toad is a telltale for impending quakes: scientists Two-million-year-old hominid sheds light on evolution Taiwan's male 'Susan Boyle' a web sensation Airlines query flight ban as travel misery spreads More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Asia Entertainment Photos World Cup 2010 Copyright © 2010 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Terms of Service | Privacy Policy | Community | Intellectual Property Rights Policy | Help

Other News on Monday, 19 April 2010
Iran to talk with Security Council members on nuclear deal
Afghanistan releases Italian charity workers
Poland holds funeral for president Kaczynski
Afghanistan releases three Italians aid workers
More than 100 die in week of Afghan violence: govt
Odierno "confident" U.S. Iraq drawdown on schedule
Yemen oil security tightened, two suspects killed |
Chavez marks Venezuela independence, foes unhappy |
MidEast Airlines Wait for Icelandic Volcano Ash to Settle
New York Teen Arrested After Making Threats To Carry Out Massacre
Supporter of north Cyprus independence claims victory |
LBJ's Daughter Hospitalized
Italy aid workers freed in Kabul in good condition |
Flood of aid reaches China's remote quake zone
Belarus says ousted Kyrgyz leader welcome
29 militants die in fighting in north Afghanistan
Pakistan leader to sign bill 'curbing his powers'
AP Exclusive: Taliban say buildup under way
Close to India, Pakistan shows military might
Indian police defuse two bombs at cricket ground
China's Hu comforts quake victims on scripted trip
'Bodyguards and Assassins' dominates HK awards
US-ENTERTAINMENT Summary
Saudi prince stars in TV commercial, marks royal change
Winners at the 29th Hong Kong Film Awards
Dragon edges out Kick-Ass at box office |
Saudi prince stars in TV commercial, marks royal change |
Al-Qaeda in Iraq using new 'H-bomb' to kill civilians
Car bomb targets official in Ingushetia: reports
Pressure builds to get Europe flying again |
Facebook deletes Osama Bin Laden account
U.S. considers options to curb Iran's nuclear program
Thai troops guard business zone from protesters |
Poland in mourning, Russia offers reconciliation
Sudan state media report Bashir poll lead
Loyalists of ousted Kyrgyz leader resist new rulers |
IMF, EU, ECB visit to Greece delayed: official
Embattled Japan PM's support rate slips further |
US-TECH Summary
Quake hits central Afghanistan, at least 7 killed |
Blast hurts official's driver in Russia's Ingushetia |
Publishing venture bets on iPhone short stories
Ocean census uncovers 'new world' of marine microbe life
Volcano cloud pushes European airlines to the brink: analysts
Discovery readies return to Earth unhampered by ash cloud
Roads clogged as China quake response ramps up
Slow show reveals crisis impact on Abu Dhabi property
Publishing venture bets on iPhone short stories
Major economies to delve into climate impasse
UNHCR concern as Australia detains asylum-seekers
Thai troops guard business zone from protesters
Prosecutors slam Philippine massacre acquittals
South Korea's Lee vows to root out navy sinking culprit |
SKorea's Lee vows strong action in ship sinking
7 killed, 30 injured in northern Afghanistan quake
Australia most famous mobster killed in jail fight
Publishing venture bets on iPhone short stories |
Pakistan: Blast hits oil tankers on NATO route
Armed Thai troops patrol Bangkok business district
Pacific countries meeting to conserve tuna
FCC awaits economic data from Comcast, NBCU |
Official: Geely mulling Shanghai for Volvo plant
Pakistani July-March c/a deficit narrows to $2.702 bln
Techs, financials send Seoul shares down 1.7 pct
Toyota agrees to pay US$16.4 million fine: US official
World Bank: East Asia 2025 emissions forecast
Mando's 2 top owners to hold over 30 pct after IPO
PAKISTAN
Summer blockbusters present musical challenges
Taiwan dlr falls; Goldman woes pressure risky assets
"Pornography: A Thriller" a multiple misnomer
Techs, financials send Seoul shares down 1.7 pct
Korea Hot Stocks-Airlines, tour issues down on Europe volcano
Carrie Underwood wins country music's top award
"Titans" tops foreign box office again
Drew Carey developing hidden-camera show
Milan expo about eco-friendly, affordable furniture
Michael Buble dominates Canada music awards
Jay-Z -- and even Beyonce -- rock Coachella fest
'Bodyguards and Assassins' dominates HK awards
Carrie Underwood wins country music's top award |
Jay-Z -- and even Beyonce -- rock Coachella fest |
Summer blockbusters present musical challenges |
Drew Carey developing hidden-camera show |
Pornography: A Thriller a multiple misnomer |
Michael Buble dominates Canada music awards |
Titans tops foreign box office again |
Baghdad recount throws Iraq election wide open
Minister: Finland does not need new nuclear plants
Iraqi panel orders vote recount in Baghdad
Lenovo looks to mobile internet for growth
Iraqi panel orders vote recount in Baghdad |
UK's third party surge raises election uncertainty |
Panel orders vote recount in Iraqi capital
New fears beset markets over Greece's debt
Al Qaeda's two top Iraq leaders killed in raid |
Israel's Barak concerned by rift with U.S
Tiger And Jesse’s Alleged Mistresses To Lead “Celebrity Cheaters” Reality Show
Illinois Lawmaker's Son Caught Driving State Vehicle While Drunk
NASA delays shuttle Discovery's return to Earth
Militants blow up NATO tankers in Pakistan: officials
Bomb in Pakistani city of Peshawar; 23 dead: police |
Gates: Report "Mischaracterized" Memo On Nuclear Strategy Against Iran
Toyota to pay fine but not off hook yet: US govt
Toyota Agrees To $16.4 Million Fine Over "Sticky Pedal" Issue
Iran says to start work on new enrichment plant |
UN calls on Gulf states to boost women's rights
EU emergency talks as volcano cloud havoc worsens
Carrie Underwood Wins ACM Entertainer Of The Year Again
Supreme Court To Hear Arguments From Christian Student Group Excluded From Law School
Pakistan sidelines some officials after Bhutto report |
Madonna Approves “Glee” All-Madonna Episode
Israel's Barak concerned by rift with U.S. |
New Smokeless Tobacco Products Could Poison Children
Doctors Call For Trans Fat Ban In UK
Vitamin And Calcium Supplements May Reduce Breast Cancer Risk
Embattled Japan PM's support rate slips further |
Standoff with Sri Lankan asylum seekers ends
Pakistan president signs bill stripping his powers
Afghan police arrest 9 in plot for Kabul attacks
2 saved from rubble after China quake kills 2,000
Indonesia court mulls blasphemy law
SKorea's Lee vows strong action in ship sinking
Thai troops protect Bangkok's financial hub
Lenovo looks to mobile Internet for growth |
Cricket scandal topples Indian minister
Facebook investor DST takes stake in Groupon |
Pakistani stocks, o/n rates end flat; rupee firms
Japan's Uniqlo to open giant New York store
China shares plunge on moves to cool home prices
ADB: China should tighten policy to avoid bubble
Mitsubishi faces $900-mln suit, cuts outlook
Yuan unlikely to be main issue at G20
Police deployed over Indonesia blasphemy ruling
UN presses Gulf states on rights of women, workers
China steps up efforts to curb property prices
UN calls on Gulf states to boost women's rights
Plane kills 2 on motorcycle on Indonesia runway
Hong Kong's beleaguered film sector hopes for rebirth
World Bank urges Asia to boost clean energy spend
Not as close as once were, Aerosmith back to Europe |
OMG -- Usher tops UK singles chart |
Pop pioneer hails Germany despite Holocaust misery |
Greece at new risk of being pushed off euro
Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found
Female Breasts Are Bigger Than Ever
AMD Trinity Accelerated Processing Units Now in Volume Production
The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time
AMD to Start Production of piledriver
Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
Islamists Protest Lady Gaga's Concert in Indonesia
Japan Successfully Broadcasts an 8K Signal Over the Air
ECB boosts loans to 1 trillion Euro to stop credit crunch
Egypt : Mohammed Morsi won with 52 percent
What do you call 100,000 Frenchmen with their hands up
AMD Launches AMD Embedded R-Series APU Platform
Fed Should not Ignore Emerging Market Crisis
Fed casts shadow over India, emerging markets
Why are Chinese tourists so rude? A few insights

USD EUR - 1 year graph		BlogMeter 1.01