Demand for high-profile aircraft has been on the rise and deemed a “natural fit” for the city’s luxury Hollywood lifestyle.
The company will use the amount to fund operations and refinance existing debt.
Fraudulent lift companies are risking lives in the UAE and costing the industry millions of dirhams, say industry insiders.
The 330 square metre facility will highlight operations and achievements of commercial air travel.
The company, which operates brands such as Sharaf DG and Forever 21, is rapidly expanding across the region.
This is the first major sale of a foreign asset by Dubai World as it restructures its debt.
The new deal, which was arranged by a group of eight local and international banks, refinances an existing $2 billion facility.
Dubai Group and its lenders have been locked in a complex debt restructuring.
Regional banks have been well capitalised since the 2009 crisis and now driving the economic recovery.
The Dhs1 billion tower, located in Dubai Marina, is developed by Saudi’s Cayan Group.
One of the projects, a residential development in Business Bay, will be worth about Dhs500 million.
The contract to build Saraya Aqaba was awarded to a consortium of Arabtec, Drake and Scull and Consolidated Contractors Co.
The new project, named Dubai Creek Harbor, will include a business district, shopping, sporting and entertainment facilities.
The ‘Dubai Design District’, located adjacent to the Business Bay area, will aim to become a full service commercial hub for the industry.
Emaar Properties and Meraas Holding plan construction of an 11 million square metres project.
Airline to introduce the double-decker aircraft from January amidst “robust demand” for business and leisure traffic
The Dubai contractor expects a series of recent contract wins to boost its 2013 earnings.
With several high profile property launches, how can Dubai avoid another real estate crash?
Emaar MGF Land has been accused of using overseas funds to buy agricultural land, which is not allowed.
Tie up with global travel wholesaler Tourico Holidays provides passengers with access to more than 36,000 hotels
Airline now serves both Tokyo airports and new service operates as a codeshare with Japan Airlines
The Majid Al Futtaim group planned to partly finance the $683 million acquisition of Carrefour’s stake through a hybrid bond.
Up to 25 per cent of the construction work on the Khalifa Al Tajer Mosque has been completed.
Emirates National Oil Co (ENOC) has cut the retail price to Dhs3.50 a litre.
Has Dubai learned its lesson from the property slump that saw prices drop almost 60 per cent five years ago?
Lloyds also said on Wednesday that it would close its business in Dubai and intended to withdraw from South Africa.
Dubai likes to set records, which is why Guinness World Records is opening an office in the city. Time to celebrate some of Dubai’s stranger world records.
The new four-year deal promotes the Dubai-based carrier to main shirt sponsor of the club from the 2013/14 season.
The 37-year-old Emirati was last month found guilty of administering anabolic steroids to 15 horses in the Godolphin stable.
The worldwide death toll now stands at 23 as Saudi Arabia reports five new cases.