Emaar announces free-hold ownership
2002 - Emaar Properties has announced free-hold ownership for Emiratis as well as expatriates for all its existing and upcoming residential properties — Emirates Hills, Dubai Marina and Arabian Ranches. Announcing this, Marc Hewitt, executive director, development, Emaar Properties, added that all previous leased properties will also be converted into free-hold ownership. The company is said to be holding discussions with Amlak, its financing arm and Emaar Bank, the new bank in the formation, on the prospects of offering 25-year mortgage financing for all Emaar properties. While the Emirates Hills project is valued at Dh11 billion, Arabian Ranches, which has plans to build 3,800 apartments, is valued at Dh9 billion. Dubai Marina has been valued at a whopping Dh50 billion.
May 28
1864 - Austria-Hungary’s Archduke Ferdinand Maximilian lands in Veracruz, Mexico, to become Emperor.
1919 - Armenia declares independence.
1937 - Neville Chamberlain becomes British Prime Minister.
1956 - France cedes its former settlements in Pondicherry, Karikal and Mahe in India.
1961 - Paris-Bucharest Orient Express train makes final trip after 78 years.
1963 - Jomo Kenyatta becomes first Prime Minister of Kenya.
1964 - Palestine National Congress forms the Palestine Liberation Organisation in occupied Jerusalem.
1976 - US and Soviet Union sign treaty limiting the size of underground nuclear explosions set off for peaceful purposes.
1977 - Fire races through the Beverly Hills Supper Club in Southgate, Kentucky, killing 165 people.
1979 - Egypt’s President Anwar Sadat announces opening of air corridors between Egypt and Israel.
1997 - Russia and Ukraine sign the Partition Treaty on the Black Sea Fleet.
1998 - Pakistan conducts five nuclear tests.
2001 - Malaysia’s Perkapalan Mesra wins the contract for dredging and land reclamation of Palm Jumeirah for Dh991 million.
2007 - The United States and Iran break a 27-year diplomatic freeze with a four-hour meeting in Baghdad about Iraqi security.
2008 - Nepal becomes a republic.
2011 - Egypt lifts a four-year-old blockade of Gaza Strip, easing travel restrictions on Palestinian Territory.
2015 - Al Shabab wins the GCC Champions League football final against Oman’s Al Seeb.
