News

WB Abu Dhabi will feature over 250 rooms over eight levels The USD 112 million hotel will be opened in 2021 Media company Warner Bros. announced that it will open its first-ever themed hotel in Abu Dhabi’s Yas Island in 2021. Construction of the USD 112 million hotel is now 40% complete. WB Abu Dhabi will feature over 250 rooms over […]

Value of contracts in Q3 rise to SAR 47.8 billion, says US-Saudi Arabian Business Council Oil and gas leads other sectors in contract awards followed by real estate The construction industry of Saudi Arabia displayed solid growth in the third quarter, with contract awards during Q3 2019 growing 164% versus the same quarter a year ago, according to a report by […]

First cluster of townhouses, named Eden, due to be ready in Q4 2022 Compelling investment opportunity for those within the mid-income residential market Emaar Properties has launched The Valley, a new AED 25 billion master development on Dubai-Al Ain Road, which will feature retail, entertainment, recreational, educational and health facilities. Running through the heart of the masterplan is a lush […]

Common Properties Law No. 6 of 2019 came into effect on 19 November Property owners or approved property management companies to take up collection activities Developers in Dubai can no longer collect any service charges on behalf of property owners, according to the Common Properties Law No. 6 of 2019, which came into effect on November 19. Instead, property owners, […]

Q3 revenues increased 7% on year to AED 1.6 billion Net profit for the quarter declined 8% on higher non-recurring income in 2018 Aldar Properties reported revenues of AED 1.6 billion in the third quarter of the year, an increase of 7% compared to the same period a year ago. However, net profit for the period slipped 8% to AED […]

Net profit for the quarter stood at AED 1.3 billion Interest from foreign investors and first-time home buyers supported growth Real estate developer Emaar Properties recorded net profit of AED 1.3 billion during the third quarter of 2019, up 20% from the same period a year ago, the company said. The group’s revenue during the third quarter also saw an […]

UAE banks can currently lend as much as 20% of customer deposits to the real estate industry  Banks can choose to lend beyond the cap but that would incur a capital charge The Central Bank of the UAE is working to ease the rules regarding the cap on lending to the real estate sector, said the bank’s chief at an […]

The Al Widyan project will be spread over 7 million sq m and is estimated to cost USD 5 billion First phase expected to launch in the first half of 2020 Al Akaria Saudi Real Estate Company, a Saudi Stock Exchange (Tadawul)-listed real estate developer, has announced an initial collaboration with Arabian Dream KSA, principally owned by Triple Five Worldwide, […]

Rashid Abdul Karim Al Balooshi, Undersecretary of the Abu Dhabi Department of Economic Development was speaking at the International Real Estate and Investment Show (IREIS) Three-day event aimed at property buyers and investors Abu Dhabi has experienced 4.6% growth in the real estate sector over the last five years, according to Rashid Abdul Karim Al Balooshi, Undersecretary of the Abu […]

Dubai, United Arab Emirates Residential communities and cultural attractions drive growth for Saadiyat Island: Cavendish Maxwell Special Report Saadiyat Island to have increased appeal as a popular residential, hospitality and commercial destination with upcoming artistic and educational assets Report covers Jawaher, Mamsha and Saadiyat Reserve; residential communities by Aldar Properties aimed at investors and owner-occupiers Cultural attractions including The Guggenheim […]