KUWAIT, Oct 29 (KUNA) -- The local real estate market grew by one percent during the third quarter of 2007, a specialized real estate report released on Monday said.

Dubai - October 29^th 2007: United Holdings, a private multi-disciplinary holding investment firm, was launched today with plans to embark on investments worth AED19.8 billion (US$5.4 billion) in the coming years. Positioned as a premium investment company with offices in the prestigious Emirates Towers, United Holdings will initially focus its resources on opportunities predominantly in the real estate sector.

The Dubai Internet City is looking forward to undergo major five fold expansion with the zone as the base for most companies, said a top executive of the company.

The Dubai World Central (DWC), the major urban aviation community under construction in Jebel Ali, covering an area of 140 square kilometers, has entered into an MOU with Amlak Finance PJSC, the largest real estate financier offering Sharia’a solutions in UAE, to finalize the financing agreement of DWC customers. The agreement will cover the cost of real estate sales of all three major components, namely the DWC Commercial City, DWC Golf City and DWC Residential City.