The projects will be built over five years and will include 10 million square feet of space for innovation complexes, technology laboratories and smart buildings.
The International Monetary Fund also said on Monday that rises in Dubai property prices had moderated, and were now less of a concern.
The lender made Dhs1.43 billion in the three months to Sept. 30.
DFM made a net profit of Dhs153.5 million in the three months to Sept. 30.
The mega development, spread across six million sq metres, will include residences, integrated transportation systems, and green open parks.
Dubai International Airport also saw a growth in traffic during the first nine months in 2014, which reached 52 million compared to 49 million during the same period last year.
Third-quarter revenue rose to Dhs922 million, up 12 per cent year-on-year.
The lender made a net profit of Dhs596.8 million ($162.5 million) in the third quarter of 2014, up from Dhs473.2 million from the same period last year.
The hotel, being developed in partnership with Abu Dhabi Financial Group and real estate developer Sheffield Holdings, will be situated in Marina 101 in Dubai Marina.
The fund has warned that fiscal balances across the GCC and other Middle Eastern countries will deteriorate if the policies continue to remain unchanged.
A senior IMF official said that risks in Dubai’s real estate market seems to have decreased partly due to the measures taken by the government in limiting speculative buying.
The bank made a net profit of Dhs552 million ($150.3 million) in the three months to September 30, up from Dhs454 million in the corresponding period of last year.
The conglomerate said its net profit was Dhs189.1 million ($51.5 million) in the third quarter, compared with Dhs161.1 million in the same period of 2013.
The Japanese electronics giant said that the world’s first Xperia Aquatech store in Dubai is nearing completion and will open on December 3.
Dubai’s index rose 1.8 per cent to 4,653 points as most stocks gained.
The Gate and Arc Towers development located in Shams Abu Dhabi are made up of 3533 units, of which Aldar retained over 1300 units as part of their recurring-income portfolio.
The report drew “sweeping conclusions based on a small, unrepresentative sample,” says official.
The project features a walkway and jogging track running from the Dubai Marine Beach resort up to Burj Al Arab hotel.
Part of the Emaar Square integrated community, it marks the first full fledged hotel and residence project of The Address Hotels and Resorts brand in the international market.
Sources say that Aabar Investments is unhappy with the merger talks of Malaysia’s RHB Capital Bhd with IMB Group Holdings and Malaysia Building Society Bhd (MBSB).
The private healthcare-focused firm has made four investments in the United Arab Emirates since 2009 through its $120 million fund.
UAE and KSA responses to the International Tablet Survey suggest a stark contrast in the perceived value of tablets compared to other nations.
The firm made a net profit of Dhs95.86 million ($26.1 million) in the three months ending Sept. 30, up from Dhs75.11 million in the year-earlier period, it said in a statement.
The service, which will initially operate thrice a week, will be upgraded to a daily service in 2015 owing to strong demand, the company said.
Patrick Gordon will replace Shane O’Hare, who served as the CEO of the private charter company since 2007.
Manazel Real Estate has launched 860 two and three-bedroom villas in the new Al Reef development.
New Dhs500 million runway enables airport to target more premium travellers flying on widebody aircraft
The man, coming from Liberia, was transiting at Dubai and was suspected of having the virus after suffering from diarrhea.
eyaar, one of the companies worst hit by Dubai’s property market collapse in 2009-2010, made a quarterly profit of Dhs78.5 million.
DIC has been selling down its portfolio of assets to service its debt, most recently selling German packaging company Mauser for $1.72 billion.