News

After government leaders acknowledged recently in public remarks that the UK was heading for a recession, official figures confirmed that the economy is, indeed, shrinking. The data from the Office of National Statistics show that the gross domestic product contracted by 0.5 percent in the third quarter of 2008, which is the first fall since […]

The HMS Britannic, the sister ship of the Titanic, currently sits in approximately 120 meters of water about three nautical miles off the Greek mainland. The less celebrated of the two ships, but just as ill-fated, the Britannic could soon become a tourist attraction for divers and visitors to Greece.   The Britannic Foundation and

The 2008 World Architecture Festival recently concluded in Barcelona, and the first World Architecture Awards were announced. The top prize for World Building of the Year went to the new faculty building at the Luigi Bocconi University in Milan. This impressive facility was designed by Grafton Architects of Ireland, and judges noted that the design

Existing home sales increased in September, 2008 both from August and from the same time in 2007 according to the National Association of Realtors. Single family, townhomes, condominiums and co-op sales, which are all grouped in the existing home category, rose 5.5 percent from August to a seasonally adjusted annual rate of 5.18 million units

Passenger traffic for Middle Eastern airlines fell in September according to recently released information from the International Air Transport Association (IATA). The IATA said that regional traffic fell 2.8 percent for the month, and it also noted that globally the passenger traffic fell 2.9 percent from a year ago.   This is the first time

Egypt’s Information Industry Development Agency (ITIDA) noted a recent analysis that shows Egypt is in a very good position to take advantage of the global outsourcing boom. The country’s young population, sustainable and abundant talent pool, university graduates, tech-savvy population and geographical position will help to make it a leader as businesses continue to outsource

Property in the United Arab Emirates has been one of the leading investments in the world over the past few years, with Dubai leading the way. The tiny Emirate of Ajman is looking to be the next UAE property hotspot. Ajman is not far from Dubai along the coast of the Persian Gulf and is

As the economy tumbles and home foreclosures are mounting, US officials are trying to increase aid to homeowners. A senior Bush administration official was on Capitol Hill this week and told a Senate committee that they were working on a plan to help shoulder some of the losses on home loans that are modified.  

A new mixed use development is set for Tunis and is being jointly developed by the Tunisian government and Sama Dubai, an international real estate and development arm of Dubai Holding. Mediterranean Gate is being developed by Sama Dubai with the backing of the government and will be completed in 14 phases over the next

GoldenTree InSite Partners, a New York-based real estate investment firm, recently announced that it was planning to invest US $222 million in a joint venture in Brazilian real estate. The firm will partner with Sao Paulo, Brazil-based LDI – Inteligencia Urbana Completa, to develop residential and office property for sale.   The venture is GoldenTree