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Energy Club in DMCC

DMCC announced the establishment of the Energy Club. The main purpose of this project is cultivating and generating a network of energy professional, even developing new environment in which innovation and management can thrive.

The Club works for resident companies who deal with the energy industry. The industry's participants can debate, share experience, find new business offers and discuss opportunities.

EXCLUSIVE: Nakheel offers land to Palm villa owners

Villa owners on Nakheel’s flagship Palm Jumeirah have been given the option to buy additional land outside their property as the developer looks to boost revenues.

Nakheel is charging AED600 (US$163) per sq ft for the strip of land adjacent to the steps that lead down to the beach.

Several residents with properties situated beside the public footpath to the beach – also known as a sikka – have also been offered the land to extend their garden for the same price, residents on the luxury development told Arabian Business.

UAE corporates have ample cash cushions

The non-financial corporate sector in the UAE is showing signs of fiscal improvement, albeit stress testing indicates continued vulnerabilities to global financial conditions, particularly in the real estate sector, the International Monetary Fund, or IMF, said.

The Washington-based fund said in its country report on the UAE, that the corporate-financial link is important for the Emirates.

Recovery still a work-in-progress

Dubai: Limited infrastructure spending and the odd high-profile hotel development have not done much to lift spirits in the construction sector in Dubai and Abu Dhabi, where payment issues and stalled projects — as well as scoring contracts abroad — are forefront in the minds of contractors.

“I don’t believe there is much new project activity or meaningful new capital infusions,” said Saud Masoud, chief executive of SM Advisory Group and former real estate analyst with Rasmala.