London Dubai Overseas Property Investment

Dubai is the region's most transparent market and the most improved in real estate transparency globally over the last two years, according to a Real Estate Transparency Report 2008 released by Jones Lang LaSalle. Bahrain and Abu Dhabi followed as the next most transparent markets in the MENA region.

Dubai Investments Real Estate Company has launched a Dh2bn mixed-use development project in Mirdif. Mirdif Hills will encompass 680 apartments, 380 offices and 129 retail outlets. The project is scheduled for completion in 2010 and units will be available for sale shortly.

Deyaar Development will assume the development and management rights for One Za'abeel in agreement with the Investment Corporation of Dubai. The 36-storey mixed-use development is located at the World Trade Center roundabout in Dubai and construction is set to commence shortly, targeting completion in 2011.

Dubai-based developer Limitless has announced that Sanaya Amman, its $300m twin tower project in Amman, will be Jordan's tallest building with a height of more than 200 metres. Unveiled in February under the name Limitless Towers, Sanaya Amman, which is located in the Abdoun district of Amman, will also be the first in Jordan to meet world environmental standards, with a host of eco-friendly initiatives that will save $2m a year in running costs, the developer said.

No significant residential rental increases were seen in the second quarter in Dubai, following a pattern that began in the first quarter of this year, according to property services company Asteco's quarterly real estate report. However, year-on-year average residential rents in Dubai climbed by almost 22%. Sheikh Zayed Road continues to be one of the most coveted residential areas, recording the highest annual rental growth of 51%. Bur Dubai and Ghusais areas follow close with yearly rent increases of 42% and 40% respectively.