Aabar’s chairman says investors misunderstood the significance of the small reduction of its stake in Arabtec.
Prime rents in the city rose six per cent in Q1, and are up 16.4 per cent year-on -year, the report found.
Dubai’s main index posted its biggest daily rise since last September, while Arabtec surged its 15 per cent daily limit.
Net foreign investment in-flow reached Dhs2.1 billion last month despite market volatility, DFM said.
The sharia-compliant mortgage lender proposed in June to make an initial down-payment of 20 per cent while the remaining debt will be paid over 12 years.
The purchase will increase AOC’s ownership of S-Oil to 63.4 per cent from 34.99 per cent, AOC said in a statement.
The new service is estimated to add around $200 million annually to the US destination’s economy.
Political unrest in Egypt is not affecting work on the mall, confirms George Kostas, CEO of UAE-based retailer Majid Al Futtaim Properties.
Dubai’s main index is up 3.1 per cent while Arabtec jumps 8.7 per cent ahead of a briefing scheduled for after the close on Wednesday.
The second-largest lender in Qatar bought a 74.25 per cent stake in the Turkish bank last year.
New InterContinental Abu Dhabi Grand Marina will feature a Michelin-star signature restaurant with rooftop bar and second Holiday Inn capitalises on demand for mid-scale hotels
Global operator targets Bahrain shoppers with double opening at retail centre
The Dubai index jumped 3.2 per cent on Tuesday as Arabtec, which had plunged its 10 per cent daily limit early in the session, surged to close up 10.3 per cent.
Arabtec has issued a string of statements saying it will protect shareholders’ rights, but it has not so far publicly addressed the strategy and ownership issues.
A deal could value the company at about $5 billion.
The agreement will help Etihad Rail expand its distribution capacity beyond its export terminals within the UAE.
The market has matured to a level capacity although rents continue to increase, says CEO
The developer expects its profit in the first half of this year to reach Dhs700 million.
The scheme will have a production capacity of 16 million tonnes per year of phosphate concentrate, sulphuric acid and phosphoric acid.
The terminal is the first phase of a $15 million investment which will include new hangar and maintenance facilities.
Iftars and suhours during Ramadan will boost revenues in hotels across Dubai, a new survey says.
Duncan Howard joined Zain last September and previously worked for Vodafone and Vodafone Egypt.
The latest aircraft, a Challenger 605 model, was acquired for a private owner by EAG.
The index recovers to stand 1.1 per cent higher at 3,987 points, bouncing back above the 200-day average.
The iPILOT simulator, located in Magic Planet, will offer the experience of flying the world’s largest passenger jet.
Gulf airlines have said that European governments were seeking to restrict fair competition by giving airlines based closer to home preference when awarding airport slots.
Prince Khaled bin Bandar served as both deputy defence minister and governor of Riyadh last year.
This is the first time that the index has dropped below the 200-day average since December 2012.
Double-daily frequencies will be operated to Bangalore, Chennai, Kozhikode and Hyderabad.
The joint venture will invest in direct private equity opportunities in African firms with a focus on consumer driven sectors.