Dubailand finalises design for Marvel theme park
Dubailand said it is finalising the design and conceptual master plan for the world's first Marvel Superheroes theme park. The 4.5 million square feet project will be demarcated into three districts such as City Centrum, the HUB, and The Marvel Academy. Three of the theme park's rides - Flying with Spidey, Fantasticar and X-men: Danger Room - are already undergoing off-site trial runs, prior to its installation within Dubailand.

Saadiyat Island villas launched
The Tourism Development and Investment Company (TDIC) in Abu Dhabi today released the first 250 villas in its Saadiyat Island project, with prices starting from Dhs6.5m for a three bedroom property. The Saadiayat Beach properties overlook either the coast or the Gary Player golf course, and are due to be ready by late 2009 to early 2010

Al Futtaim closes $500m real estate funds
Al Futtaim Capital, the investment arm of the Al Futtaim Group, has announced that it has completed raising $500m through two real estate funds, reported Gulf News. The four-year closed-ended funds are structured as both conventional and Sharia compliant investment vehicles such as the Al Futtaim Mena Real Estate Development Fund and Al Futtaim Mena Real Estate Sharia Development Fund. The funds' investment strategy will focus on Al Futtaim-led developments in key Mena cities such as Abu Dhabi, Doha, Casa-blanca and Cairo.

Hamptons opens office in Abu Dhabi
Hamptons International, a property services company, has opened its first Abu Dhabi office at the First Gulf Bank building on Corniche Street. The new office will showcase a diverse portfolio of properties – from the UAE, the region and international markets – and also provides additional services such as mortgage services, valuations and research, and letting services. The company already has two offices in Dubai – at Emaar Business Park and at The Lakes community.

Nakheel lists Dhs3.6bn Sukuk
Dubai-based developer Nakheel, a Dubai World company, listed today a 2-year AED denominated Sukuk on the Dubai International Finance Exchange valued at Dhs3.6bn ($981m), the company said in a statement. The Sukuk will conform to the principles of Islamic Sharia and will be based on an Ijara (lease financing) structure. Dubai Islamic Bank, JP Morgan and NBD Investment bank were the lead managers and joint book runners for the transaction. Dubai World is guaranteeing the payment obligations under the Sukuk.

Dubai rental yields fall
Rental yields in the Dubai residential property market dipped in April as property prices rose faster than rents, according to a report by Al Mal Capital, a UAE-based investment bank. A year's rent was on average equal to 7.1% of the property's value, down from 7.3% in March, cited Bloomberg.

Zaya to build beachfront villas off Abu Dhabi
Abu Dhabi-based developer Zaya has unveiled Nurai, a community of resort beachfront estates and water villas on a natural island off the coast of Abu Dhabi, a company statement said. Nurai is a 3.3 million square foot island located northeast of Abu Dhabi city centre, near the northernmost tip of Saadiyat Island. The development will include a boutique luxury hotel resort with 60 suites, 31 resort beachfront estates, and 50 resort water villas. Zaya is a joint venture between Tasameem Real Estate and Assas, whose combined portfolio exceeds $15bn.

Bloom plans $10bn portfolio
UAE-based Bloom Properties, formerly known as Emirates International Properties, plans to invest $10bn in mixed use projects in the UAE, Romania and Algeria over the next three to five years, its CEO, Hani Shammah, said on Monday. Bloom is the joint real estate development arm of Emirates International Investment Company and National Holding. Shammah said Bloom is currently eyeing opportunities for developing properties in Oman and Jordan, reported Gulf News.

IFA pays $1bn for plots on Palm Jumeirah
IFA Hotels & Resorts has bought two plots of land on the crescent of Palm Jumeirah in Dubai for $1bn. The plots cover 1.012 million square feet and will be an extension to the Kingdom of Sheba resort. IFA HR recently broke ground on the Balqis Residence, the residential component of the Kingdom of Sheba.