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Egypt Wooing Property Investors


Investors in the property market may be financially better off looking outside the Eurozone, it has been suggested. Egyptian property developer, West Side Village, suggests that the north African country is a good example of how better value can be achieved, noting that at present the Euro is trading at EUR1.26 per GBP1.

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Armani in Villa Design Project

Giorgio Armani’s next project with Emaar Properties will be the Armani Residences in Marassi, the Dubai-based developer’s massive master-planned project in Egypt.

A US$1.74 billion residential development on the north coast, about a two hour drive from Cairo, Marassi will eventually cover more than 1,500 acres and include a marina, golf course, retail space and 3,000 hotel rooms.

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FMB Signs Up to 2012 Construction Commitments


The Federation of Master Builders (FMB) has formally signed up to the 2012 Construction Commitments in Australia. 

The President, Ron Storer and Director General, Richard Diment , signed the commitments which aim to ensure that the construction industry delivers high quality projects, safely and on time. These principles are a statement of intent from the industry on standards and best practice in construction. Although they are called the 2012 Construction Commitments in reference to the Olympics, they are intended for the whole industry, not just the contractors working on the games.

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Record Drop in British House Prices


British house prices have fallen by a record 14 per cent over the past 12 months, according to the latest survey by the UK's biggest mortgage lender.

The Halifax house price survey showed house prices fell by another 2.2 per cent in October - with the average UK home now costing £168,176, almost £30,000 less than a year ago - the ninth successive fall after September's 1.3 per cent drop. The building society said the drop means house prices are now in line with what they were in October 2005.

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Kenya’s Road Construction Policy Weak


While Kenya’s road network has improved, its operating condition has suffered from inadequate maintenance, repair and rehabilitation, says a report.
The Kenya Institute for Public Policy Research and Analysis (Kippra) report also cites the institutional framework within which roads are managed as a key setback.

"Clearly, the overall road policy framework is not integrated to promote a positive impact and generate cumulative positive externalities," says the report.
It does not provide a balanced approach to strengthening and rehabilitating existing assets, on one hand, and constructing new roads and bridges, improving low-grade sections and widening roads to four lanes, on the other.

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