As per the deal, MBRF will extend part of its land bank to newly launched developer Nshama to build an integrated community project at a central Dubai location.
Listed on the DFM in 2007, the Dubai-based company was formed in 1975 to support the city’s residential development.
Amanat will use the funds raised from the offering to establish companies in the healthcare and education sectors.
Shares in the Emaar Malls Group IPO were priced at Dhs2.90 per share, giving an overall sale value of Dhs5.8 billion.
The developer has awarded a contract for the project to Overseas AST Company.
The free zone said that its health insurance solution has been tailored to suit its members so that smaller firms can experience the benefits that are usually available to large corporates.
The city has 34 billionaires with a combined wealth of $79 billion, says new report by Wealth-X and UBS.
Football fans set to flock to Sevens Stadium to see two giants compete in Dubai Football Challenge
The bank has set initial price thoughts for the $77.6 million issue of five years duration at 165 basis points over New Zealand midswaps, the document showed.
The new innovation centre will help develop products that will cater to the tastes of the local market and boost regional sales, the company said.
Exclusive: Anan Fakhreddin reveals how the company is rebuilding itself after hitting rock bottom in one of Dubai’s largest business scandals.
A new affordable option, uberX and a corporate account service, Uber for Business, will now be available in Dubai.
MAF-Fashion will begin the roll out of the AllSaints stores across the GCC in 2015, a statement said.
The bank said 2,900 applications for shares in the Emaar Malls IPO came via its ATM and newly launched eIPO platform.
Dubai’s public transport agency will work on projects such as extension of the Dubai Metro’s red line, a major upgrade of roads leading to the expo site and a wider bus network.
The firm raised $75 million, 55 per cent of its capital, in April via an offer that was 36 times subscribed.
Discovery Gardens Pavilion has nearly 30 shops, a medical centre, a nursery, restaurants and cafes along with a Geant Easy supermarket.
The square-shaped smartphone targets business professionals and will retail for Dhs2,699 in the UAE.
Turner won the project management tender for the district, which will house the world’s tallest commercial tower, Burj 2020.
The average prime capital value for a skyscraper in Dubai stands at $620 per sq ft, according to a new index.
The firm, part of the Al Ghurair Group and one of the largest aluminium product makers in the Gulf, will lift annual output to 100,000 tonnes in the next three to four years.
Wednesday is the last day when retail investors, who dominate Dubai’s market, can subscribe for shares in Emaar’s malls unit.
The Dhs2.90 a share price would give the unit a value of Dhs37.7 billion, one of the sources said.
The Passport boasts a big square screen and a unique touch-sensitive tactile keyboard.
The new luxury hotel, which is scheduled to open by 2018, will be operated by Anantara Spa and Resorts, the developer said.
The Dubai entity currently produces 1.1 million tonnes of aluminium per year, with the planned upgrade set to enhance output by 100,000 tonnes when completed.
New project launches were announced by Dubai-based developers Nakheel, Damac, Deyaar and Meraas.
Transguard said that it has won contracts with major firms such as TAV and Australian firm James L Williams.
Emaar plans to sell 15 per cent of its subsidiary Emaar Malls Group (EMG) in an initial public offer launched this month.
UAE residents more inclined to invest in property rather than gold, finds new survey.