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National Bonds has said that it will hand over the sale and purchase agreements to buyers of Flamingo Creek properties. Flamingo Creek homeowners can sign and receive the agreement on 22 July at Dubai Festival City. Flamingo Creek is made up of 244 villa-style apartments and townhouses within The Lagoons, which are managed and developed by Deyaar.

M Holding has acquired 15 freehold plots of land in Mirdif, Dubai for a total investment of Dhs615m. The Mundia Group-owned company has purchased the land from the Dubai Investments Real Estate Company. Al Shurooq Architecture & Engineering Consultants as the architect and design consultants for the project.

House prices in Dubai are likely to moderate in 2010 as supply and demand become more in balance, reported Gulf News. Robert McKinnon, managing director at Al Mal Capital Research, said construction delays continue to plague the industry, so demand is expected to outpace supply until 2010.

Flamingo Creek, the first residential community within The Lagoons master development at Dubai Creek, has sold out all its residential units during a recent pre-launch event. The freehold project owned by National Bonds Corporation comprises 244 villa-style apartments and townhouses, all with unique floor plans, spread over 500,000 square feet within The Lagoons.

Tashyed, the property development joint venture set up by Nakheel and Dubai Islamic Bank, has today broken ground on its first development at Jumeirah Heights. Located on land sourced from Nakheel, and comprising a built-up area of approximately 625,000 sq ft, this lake-front development will offer residential accommodation in the heart of New Dubai. The project will consist of approximately 250 to 300 apartments, townhouses and villas accommodating a population of more than 1,000 people. Commencement of the project is expected in the first quarter of 2009.