A banking source aware of the talks said that Meraas was looking to ‘front-load’ its debt plans so that it raised as much cash before construction began on its projects.
Following a series of investor meetings, ENBD aims to complete a U.S. dollar-denominated bond offering of benchmark size, one of the sources said.
Shares in Emaar, the biggest listed developer in Dubai, surged 6.7 per cent on strong volume and dominated trading in the emirate.
The move is part of a large-scale redevelopment plan which includes reforming the mall’s exterior and adding more retail brands.
Emaar, the emirate’s largest listed developer, which surged 8.8 per cent to Dhs11.15, its highest close since March 2008.
Nick Peel joins the start-up firm having previously worked at British retailer McArthurGlen as well as soccer clubs Arsenal and Rangers.
The project will connect 17 locations with the main transmission lines to increase water flow and ensure reliable supply.
The project consists of three towers, out of which two are residential buildings while the other will comprise of hotel apartments, the developer said.
Dubai International cut back flights by about 26 per cent for 80 days from May 1 as both its runways were upgraded.
Called ‘One at Palm Jumeirah’, the luxury project will be designed by international architects.
Emaar’s shares rose 5.4 per cent to Dhs10.80 today, bringing their year-to-date gains to 56 per cent.
Emaar, Dubai’s largest real estate developer, will offer 30 per cent of the shares to individual investors and 70 per cent to qualified institutional investors.
The public declaration is a motivational approach unique to the UAE, which invokes honour, the backbone quality of the region, writes the author of ’10 Tips For Leadership In The Middle East’.
The budget airline announced that it will begin services to Bujumbura in Burundi, Entebbe in Uganda and Kigali in Rwanda.
Arabtec shares jumped 13 per cent to Dhs4.79 over the past four trading days on speculation about a potential deal between Hasan Ismaik and Aabar.
The company, one of the more profitable assets of debt-laden Dubai World, posted a first-half net profit of $332 million.
Exclusive: The UAE has seen a flight to safety of wealth from conflict-ridden areas in the region, says Emirates NBD CEO Shayne Nelson.
The developer has awarded a contract worth around Dhs75 million to UAE-based Trojan General Contracting to build the complex.
Hasan Ismaik, the former CEO of Arabtec, confirmed that he was in talks with Abu Dhabi state fund Aabar to sell part of his stake.
The contractors, who designed the project from the Expo 2020 bid phase, are currently undertaking site readiness activities.
The developer said that it preponed the second release of units at the AKOYA development owing to strong investor demand.
Investors are hoping Abu Dhabi’s Aabar will soon buy a part of the 27.9 per cent stake held by Arabtec’s former CEO Hasan Ismaik.
The development, called Villa Lantana, will feature 440 units including three, four and five bedroom homes.
The new phase will include a redesigned VOX Cinemas complex and the launch of new fashion brands and F&B outlets.
The emirate recorded a 26 per cent rise in the number of visitors from China.
The two million square foot mall will feature a multi-screen cinema, supermarket, speciality shops and F&B options.
Shares in Dubai builder Arabtec rose as speculation grew about the sale of the stake owned by former CEO Hasan Ismaik.
The new development, spread over 55 million sq ft in Dubailand, will feature residences surrounding a golf course.
In an exclusive interview, George Kostas elaborates on the future of the company.
The emirate ranked seventh on the list, beating Los Angeles, Beijing and Sydney.