Feasibility studies for the project have been completed, confirmed Emirates Global Aluminium CEO Abdulla Kalban.
Emaar plans to sell 15 per cent of its subsidiary Emaar Malls Group (EMG) in an initial public offer launched this month.
The lender had said in January 2013 that it was looking to buy a strategic stake in a Libyan commercial bank.
UAE residents more inclined to invest in property rather than gold, finds new survey.
Brent crude prices have fallen below OPEC’s preferred level of $100 a barrel.
The bond with a perpetual tenor can be bought back by the lender after the fifth year.
Oil prices in Europe have declined since June as geopolitical concerns wane and key producers pump large amounts into the market.
Several residents are being forced to move to the cheaper outskirts of Dubai or are also considering returning home abroad.
FIFA executive committee member Theo Zwanziger had said the event would be shifted away from Qatar because of extreme heat in the country.
The United States has been building a coalition to combat Islamic State, which has seized large areas in Iraq and Syria.
Dubai’s Real Estate Regulatory Authority will be introducing four new measures next year to regulate the sector.
The government needs to introduce incentives- similar to those initiated in the hospitality sector- to boost the number of affordable homes in Dubai, an expert says.
New flotations on the bourse had been held back by low investor confidence after the index slumped in the wake of the global financial crisis and a local real estate crash.
The executive committee member said that the scorching summer in Qatar makes it unfavourable for soccer.
Recruiting will take place in 12 cities across five countries including Italy, Germany, Japan, Morocco and Tunisia.
“Should we decide to list shares, the market will receive it well,” said Sanjay Manchanda.
The seven-year financing is split between a $300 million loan with an amortising structure and a $40 million revolving credit facility.
The 5.5 million sq ft mixed-use development will include a total of 27 buildings.
Ma’aden earlier said it would seek capital to fund the expansion of its phosphate and gold operations.
The IPO is expected to be one of the largest ever in the Gulf region.
The meeting was called to inform shareholders of the details of a $2.7 billion restructuring plan.
The first phase, anticipated to include retail and hospitality elements, will be completed in three years.
The hotel, which will consist of 1,250 luxury rooms and suites, is scheduled to open by 2018 and will be located in the downtown area
The discussions were centred on re-negotiating the terms of the debt, the chief executive said without giving any further details.
The restructured loan is repayable over a period of seven years, the company said.
The government might not introduce any fees on off-plan property sales if the property market self corrects, an expert says.
Spread across 9.5 million square feet, La Mer will feature commercial, leisure, residential and hospitality components.
All the latest news from the region’s biggest property event taking place in Dubai.
Stock markets around the world closed nearly flat on Friday but a major source of uncertainty is now gone after Scotland voted ‘No’.
The 18-hole championship-standard course, ‘Trump World Golf Club Dubai’, will include a club house, restaurants and pro shop.