Thursday, September 3, 2015

Property prices drop in Dubai Marina, increase in older areas

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Finance and Economy
Saudi Arabia's GDP grows 3.8 per cent despite cheap oil
Driven by rising oil output, Saudi Arabia's gross domestic product (GDP) rose to SAR617.88 billion, compared with SAR595.31bn in the same quarter last year.
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Arabs spend $27 billion on medical tourism

Dr Bandar Al Fehaid, president of the Arab Tourism Organisation, affirms that statistical studies recently revealed that the volume of medical tourism is estimated at $100 billion, with Arabs spending approximately $27 billion of it. 
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UAE accounts for 30 per cent of Japan's trade with Mideast
The UAE's imports from Japan comprised 34.2 per cent of the latter's total exports to the Middle East region, the data by the Japan External Trade Organisation (JETRO) reveals. 
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Energy
UAE: gasoline price down 8 per cent and diesel 18 per cent for September
According to the Ministry of Energy's numbers, the fuel prices list included reducing the price of a litre of local diesel by 18 per cent to AED1.86 in September.
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Saudi Arabia invests $60bn in oil and gas drilling
The value of Saudi Arabia's investments in onshore and offshore oil and gas drilling amounts to a massive $60 billion, a former executive of a drilling company says.
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BBAC launches groundwater extraction project using solar power
BBAC (Bank of Beirut and the Arab Countries) inaugurated a groundwater extraction project using solar power in Maknah village, Bekaa to overcome the challenges Lebanon currently faces.
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Real Estate
Infographics: 27 new schools by 2016 due to student growth in Dubai
With a 4.7 per cent growth in the 2014/2015 enrollments since the previous year, 27 new private schools are set to open in Dubai by September 2016.
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Aldar launches West Yas residential development on Yas Island
Aldar Properties PJSC, Abu Dhabi's leading listed property development, launches West Yas, a residential development set to open on 12 September.
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     News
Jeddah port handles 5.8m tonnes of construction materials in 7 months
Meanwhile, local production of cement continues to post major surpluses, while cement exports are still banned to control prices.
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AED20 billion Sharjah project to launch

The mega project will be home to over 200,000 in total and it set to become the largest commercial, residential and tourism development in the city, consisting of ten natural islands, which will be connected by bridges and canals.
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MarketsToday.net joins hands with UAE's Wealth Monitor Magazine
The op-ed will be published in the Wealth Monitor magazine as well as on the web portal. Wealth Monitor will also publish expert views/opinion of MarketsToday.net in its print and online edition on a need basis.
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Impact Estate is launching a new residence in Amwaj Islands
Designed by Elevation Architects and Engineers, Modern Residence-2 offers luxurious apartments with sea-views for sale due for completion in June 2016- the second project of Zahed Modern Properties W.L.L. 
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