The leading real estate developers in the region, Cayan Investment and Development, mentioned that its Infinity Tower development at the Dubai Marina, has hastened its construction process and has achieved a major progress on site.

The 80-storey tower offers stunning view of Dubai Marina. The podium levels, comprising six storeys are complete. Arabtec has been appointed as the main contractor of the project, with over 1000 workers in the site, working round-the-clock to ensure the right construction schedule.

The progress is an indication of the impressive track record by Cayan Investment and Development on keeping up with their project schedules, and the dedication by Arabtec towards the project.

The Chairman of Cayan, Ahmad Al Hatti, when speaking about the project construction, mentioned that the progress made on construction of the project reflects the meticulous care that Cayan lends to every aspect of its projects.

On completion, the tower will offer world-class amenities and offer tenants with a vast array of unique services and state-of-the-art amenities.

The construction work has now reached the seventh storey within the past six months. The development has already received a total of six design awards over the past three years, including the International Architecture Award from ‘Chicago Athenaeum’.

In December 2008, Cayan delivered 4 out of its seven projects in Dubai, and hopes to deliver the rest three projects between 2010 and 2011. Apart from projects in Dubai, Cayan has few mega projects in Egypt and Jeddah.

The prices of properties located close to metro stations in Dubai are already beginning to rise, marking the first signs of a Metro effect on the property market, reported analysts in Dubai.

The Jumeirah Lakes Towers (JLT) on Sheikh Zayed Road, located directly opposite the Dubai Marina station are being sold for 6.5 percent more than units in buildings located further away. The difference in prices could equate to tens of thousands of dirhams, pointed out a Dubai-based real estate agency.

Several other agencies have also reported to have been receiving enquiries about properties located in proximity to the metro stations. The trend implies that with just three months left for the opening of Metro’s Red Line, home buyers are already beginning to take into consideration the ease of transport when choosing their home.

In the rental market, few mentioned that there was a clear difference in values, which would probably emerge only after the lines open on September 9th. Several residents feared that landlords would take advantage of the locations in proximity to the Metro and raise rents.

The Sales Director at Landmark Properties, Michael, mentioned that units at Indigo Tower, a JLT building near the station, was going for around Dh.800 per square foot, compared to Dh.750 across similar-quality buildings in JLT.

The Head of Property Management at the Dubai-based property portal Gowealthy. com, Andrew Delport, mentioned that units in proximity to the Metro will be the first to recover, once the system was up and running.

Delport considers Dubai Marina to have a similar trend, with the Metro on the Marina side of the freeway. The tenancies are more vibrant here than in other places, offering good value for money.

Dubai Marina is the most popular area for leasing, accounting for 30 percent of new annual lease contracts in Dubai, according to the second quarter 2009 report by Landmark Advisory.

A sales consultant for powerhousedubai.com, Ian Hainey, mentioned that estate agents have been keen to highlight any available access to the Metro. However, so far there has been no drastic difference in rents between properties near the Metro and others. The uncertainty would last until it is known which stations would exactly open on September 9th, and that would have an impact on decision-marking of prospective tenants.

Despite the disruption of the global economy affecting Turkey’s investment climate, overseas investors who invest in Turkey will not lose out, but will instead make considerable profit, according to reports.

According to Deloitte Turkey’s traditional Venture Capital Research, 92 percent of survey participants said they will look at acquisitions within six months, while 88 percent said they have no plans to withdraw from Turkey. Anthony Wilson, Deloitte Turkey Corporate Finance – Partner in charge said that investors still maintain their long-term confidence in establishments located in Turkey. As soon as this environment of uncertainty dissolves, they will obviously restart investments.

The country, running a trillion dollar GDP based on purchasing power parity, is the fifth largest economy of Europe after Germany, UK, France, Italy and Spain, respectively. Recently there has also been an increase in Turkey’s permanent business activities. According to the Turkish Treasury’s report, foreign direct investments from the Middle Eastern countries have jumped from USD 495 million in 2007 to USD 1.9 billion in the 2009. In addition, Middle Eastern companies have established 471 new companies in Turkey throughout that time period.

Prime Minister Recep Tayyip Erdogan sounded confident as he was unveiling a multibillion lira stimulus package as Turkey’s market is rallying on encouraging news from domestic fronts and international markets. In a vote of confidence in the Turkish economy, the Japan Credit Rating Agency (JCR) has affirmed its BB-rating on Turkey’s foreign and local currency long-term senior debts. “The outlook of the ratings is stable,” the statement said. The report added, however, “A new standby arrangement with the IMF is expected to play an important role in improving the country’s international confidence, especially when the economy deteriorates sharply.”

The Turkish business world welcomed the new incentive package, which was announced by the Prime Minister, with excitement as it has raised hopes that the markets will take a deep breath amid the uncertain atmosphere caused by the ongoing global financial turbulence.

Nihat Ergün, Minister of Trade and Industry Speaking to reporters in Ankara said that the government will address investments that are currently under way in a new stimulus package. The minister added that a number of investment projects had been started prior to the announcement of a recent incentive package and were still in progress. Entrepreneurs said that Turkey, which has been indirectly affected by the crisis as the consequence of a spillover effect, should manage to free itself from the grip of the global economic meltdown.

A previous stimulus package that took effect in March saw many consumers reach for their savings rather than bank loans, which remain costly despite huge rate cuts and now the government recently embarked upon another stimulus package, this time focusing on boosting investment. With the new package, entrepreneurs will have a corporate tax rate of between 2 and 10 percent, depending on the region they invest in. The government recently divided regions into four categories, based on their current economic development level and possible investment opportunities.

With regard to reactions from the business communities concerning the new package, Mr. Nihat Ergün said many welcomed the plan, calling it satisfactory. “There are some remaining details we have to iron out, but work is under way to this end,” he said.

Leading figures from the Turkish business world said they welcomed this package. The president of the Istanbul Chamber of Commerce, Murat Yalçintas, described the package as “extremely coherent and inspiring.” He added that the government was taking the right step against the crisis and that small businesses will be relieved by the incentives introduced in the package and also the new package will inspire confidence and improve morale in the domestic markets., Hazim Sesli, The president of the Young Businessmen’s Association of Turkey assessed the package is very positive and also “encouraging” for the future of the markets

Banu Kıvcı Tokatlı, Finans Yatırım chief economist, said the new incentives will provide support for the real estate, auto and home appliances sectors, which were battered by the crisis more than any other sector, preventing the recession from becoming deeper.

Industrial commercial property in Brazil is one of the best performing in the world in 2008, according to a new report.

Research by the Royal Institution of Chartered Surveyors (Rics) found that 90 per cent of the countries surveyed reported that rents were falling, with only commercial property in Brazil, Saudi Arabia and parts of Africa not seeing a decline in yields. Brazilian market recorded the highest global rise in rents of 46 per cent and within the country; Rio de Janeiro recorded the highest rise in rents.

Mário Sérgio S. Gurgueira, research analyst at Cushman & Wakefield, Brazil comments; “Brazil performed well in the industrial and warehouses market because of an improving domestic economy over the year. This has seen consumer demand rise and has therefore resulted in more sales, more warehousing and more transportation. The outlook for the market and even when taking into account the present global crisis, we still expect the growth of the industrial market to continue in the medium term.”

Samantha Gore, the sales manager at UV10 explained that favorable climate enables people to buy holiday home that they can enjoy a holiday in while leaving time to rent it out for the rest of the year.

She commented: “Brazil has got a long rental season because it is warm all year round and a long season you can rent it out for.”

Commenting on the holiday rental market, Ms Gore noted that people do not tend to buy and sell properties quickly, as they tend to enjoy being in the country and see such investments as long-term prospects.

China Construction Bank (CCB), the world’s second-biggest bank by market value, revealed that it intends to set up branch offices in fellow BRIC nations Brazil, India and Russia, according to reports.

Guo Shuqing, chairman of the China Construction Bank said that CCB signed a memorandum of understanding that is expected to lead to an agreement to provide US conglomerate General Electric Co with banking services in China and for cross-border financing.

After saying he “certainly” wanted to open branches in Brazil, Mr. Guo said this is due to a reluctance to develop into other nations. He commented: ‘I think that in the developed countries, the financial sector is overdeveloped, there is over banking’. According to Reuter’s reports, the company intends to add ten more branches in the next ten years, which may boost the availability of banking services to property investors in Brazil.

Meanwhile, Michael Sutton, reporting for Write about Property stated that Brazil grows into one of the world’s largest economies; property will grow in value until prices are similar to what they are in the developed economies. He added that one-bedroom flat in Rio de Janeiro, which would currently cost around £80,000and the same property would be priced at approximately £150,000 in London at the moment, which suggests the potential for 100 per cent growth in the next five years.

One of the greatest things about owning a vacation or retirement home on the beach is enjoying the wildlife that pass by and a retirement property in Bahia could allow people to see one of the most majestic animals on earth.

Humpback whales are marine mammals that do not have a nose. Their most distinctive feature of the humpback whale is their long pectoral fins, which can be as long as one third of the length of their bodies. The fins may be black on their dorsal part and completely white on their ventral part. Humpback whales use the waters off the coast of Santa Catarina and Bahia for their breeding rituals forming courtship groups, mating, giving birth to their offspring and nursing them. Recently an article from Realty Executives states that buying a property in Bahia could provide a peaceful location to watch them.

In the fall, humpback whales leave their feeding grounds in the Gulf of Alaska, the sea of Bering and the sea of Chuckchi and travel towards warmer waters off Bahia where they spend the winter and have their calves. Once the cold weather has passed, the whales leave Brazil again for cooler climes.

Ecotourism in Brazil is also getting “very popular” among holidaymakers, who are becoming a lot more environmentally conscious. It is not to wonder then that the Brazil’s tourist board invests in ecotourism as part of a larger effort which attracted more than five million visitors in 2007, generating $4.95 billion (?3.5 billion) for the economy.

Ms Rendell-Dunn, marketing manager for Journey Latin America has stated that Brazil is the “perfect destination” for travelers looking for nature, adventure and culture, as “it offers something for everybody”.

The Crown Prince and Deputy Supreme Commander of the UAE Armed Forces, Gen. Shaikh Mohammad bin Zayed al Nahyan, has passed a decree, wherein a Committee has been formed to monitor the distribution of plots and distribution of low-budget housing for UAE nationals, and how to put the properties into good use.

The legislation is inline with the directives by the President H.H. Shaikh Khalifa bin Zayed al Nahyan, who empowers the Committee, under the Chairmanship of Director General of Abu Dhabi Crown Prince’s Office, to act accordingly to ensure reasonable distribution of houses and plots.

The Committee can propose necessary legislation required to regulate the distribution of houses and land, and how they could be put to good use.

It will also study issues pertaining to housing and draw necessary plans to solve any housing-related issues, and follow-up implementation of land and housing-related legislations and find out any possible causes that pose hindrance to the smooth implementation of the programme.

The Chairman of Abu Dhabi Executive Council, Shaikh Mohammad, issued another decree establishing Abu Dhabi Center for Housing and Development of Utility Services. This center aims to improve standards of implementation of projects, ensuring that they meet the highest engineering standards. The center will also collaborate with the private sector to implement construction plans.

Another decree has been issued by Shaikh Mohammed wherein certain decisions made by the Eastern Region Development have been amended.

The Abu Dhabi Crown Prince also passed a decree on safety, health and environment management system.

The Dubai Chamber of Commerce and Industry (DCCI) has strongly supported the plan to allow foreign investors 100 percent ownership of locally-based companies in certain sectors of the economy.

At present foreigners should have UAE national as a sponsor, and are given the right to own only 49 percent of the company, if they wish to begin business outside the designated free zones.

The business group supports the amendments of proposed companies’ law, in few economic sectors, with big investments and high technology that adds value to UAE economy, said Hamad Buamim, the Director General of DCCI yesterday.

The Government has been considering the revision of Companies Law for more than two years now. It has been pressurized from the Europe and the USA to permit greater foreign ownership of companies, based in the UAE.

According to analysts, such a move could benefit the economy and attract more investments, although, foreign investments in already established free zones could become pressurized.

The Director at Dubai’s Arqaam Capital, Ali Khan, said that it is potentially good for the economy, but the free zones might feel pressured, as they need to attract investments too.

Leading Dubai-based property developer, Nakheel, has established a revised budget for its Discovery Gardens community following detailed review of suppliers and scope.

The new price has been arrived upon, together with Dubai’s RERA (Real Estate Regulatory Authority), and gives a reduction of Dh.5 per square foot in service charges for homeowners.

The Managing Director of Nakheel Asset Management and Design (NAMAD), Abdulrahman Kalantar, mentioned that initially when the service charges were set for Discovery Gardens, it was based on the best estimates. Thereafter, after a long review, the company has taken advantage of recent reductions in the cost of goods and serviced and has made this reduction in overall service charge budgets.

The new low service charge rates will be back-dated to 1st January 2009, and any rebates will be credited against next year’s service charges, effective 1st October 2009.

Following introduction of Strata Law in April 2008, Nakheel made required preparations to register the Owners Association with RERA, once the regulations are finalized by the Dubai Land Department (DLD).