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Dubai’s Emaar adds new contract clause after project delays

According to the founder, missed deadlines are a ‘real source of concern’

Dubai’s property investment platform Stake raises $4m in seed funding round

The financing will be used to scale the platform, develop new features, and grow the team

Abu-Dhabi

Emirates Stallion Group lists on ADX Second Market in the UAE

Established in 2006, ESG is present in 12 markets and had assets of Dhs537m as of the end of Q1 2021

Sharjah’s Arada awards first two contracts for Dhs8bn Masaar project

US consultancy Parsons wins the infrastructure design contract

Abu Dhabi’s Aldar launches Noya Luma villa project in Yas Island

Construction is set to commence in November 2021, with handovers expected to begin in February 2024

Dubai posted 4,804 property sales during Ramadan 2021

Of the transactions, 71 per cent were for apartments and 29 per cent for villa/townhouses

Abu Dhabi’s Aldar considering more deals in Egypt real estate

The developer may invest between $1bn to $1.5bn in the next 12- to 18 months on acquisitions abroad and at home

Emaar properties Dubai

Dubai’s Emaar Properties reports $1.93bn property sales in Q1 2021, up 83% y-on-y

Its net profit increased 8 per cent from $166m in Q1 2020 to $179m in Q1 2021

Dubai shares gain amid property recovery optimism

The Dubai Financial Market General Index jumped 0.8 per cent as Emaar advanced as much as 2.8 per cent

Saudi Arabia’s Real Estate Development Fund appoints Mansour bin Madi as CEO

He previously held the fund’s general manager’s post

Abu Dhabi

Abu Dhabi records Dhs11.5bn real estate transactions in Q1 2021

The value of mortgages exceeded Dhs6.5bn generated from 2,092 transactions

Saudi’s Dar Al Arkan collaborates with Versace Home on Shams Ar Riyadh project

The Shams Ar Riyadh project is located in an area north of Riyadh, on the King Khalid Road

Dubai’s Emaar appoints new board, approves dividend plan

Emaar Properties reported a 57.8 per cent drop in net profit for 2020

Easa Saleh Al Gurg tenants in UAE can pay rent through direct debit

ESAG partners with National Bank of Fujairah to offer digital payment system

Saudi Prince reportedly sells English country estate to Bahrain’s King

The sale price was more than $165m, according to sources

Dubai’s Damac posts Dhs1bn 2020 loss; head says market recovery may take up to 2 years

The developer posted Dhs4.7bn in total revenues for 2020

Mubadala seizes on 144% stock rally to sell stake in Aldar Properties

Mubadala sold a 12 per cent stake in Aldar to Alpha Dhabi Holding

Has Dubai’s property market ‘bottomed out’?

Cityscape’s Chris Speller reveals the trends shaping Dubai’s property market and plans for the emirate’s biggest property exhibition

Outlook for the year 2021 is ‘positive’, despite Covid-19 fallout, says Al Habtoor chairman

The real estate sector in Dubai recorded a strong sales growth of 17 per cent in January 2021

Sharjah Alef Group Al Mamsha

Sharjah’s Alef Group begins construction on Dhs213m Al Mamsha Phase 3

The development includes 612 residential units spread over six buildings and retails space that spans 1,852 square meters

Arabtec Holding

Arabtec confirms filing for bankruptcy in Dubai Court

The bankruptcy judge decided to appoint a panel consisting of seven experts to examine the application

Walid El-Hindi Shuaa Capital

Shuaa Capital appoints Walid El-Hindi as CEO of real estate division

Shuaa’s real estate investment portfolio is reported to be worth over $11bn

Sharjah

Sharjah registered real estate transactions worth Dhs3.5bn in February 2021

The Al Rugaiba area recorded the highest number of sales

Sheikh Mohammed forms tribunal to resolve disputes of inherited property

Members of the tribunal will include legal, financial and real estate experts

Majid Al Futtaim Al Mouj Muscat

UAE’s Majid Al Futtaim launches Dhs28m villas in Al Mouj Muscat development

The six-bedroom Zunairah mansions have private infinity pools, landscaped gardens and direct access to the beach

Aldar offers to buy stake in Egypt’s Sodic; shares climb

The offer values the Egyptian property developer at about $420m

Dubai 2040 Urban Master Plan

Sheikh Mohammed launches mega Dubai 2040 urban development plan

Nature reserves and rural natural areas will constitute 60 per cent of the emirate’s total area, while land used for hotels and tourist activities will increase by 134 per cent

Most expensive villa in Dubai sold for Dhs111.25m

The ONE100Palm spans over 3-floors and has a built-up area of 14,000 sq ft

Saudi Arabia’s Fannie Mae eyes debut international bond in 2021

The refinancing company was set up to buy home loans from banks and other finance companies, freeing up lenders to book more mortgages

Majid Al Futtaim City Centre Al Zahia mall Sharjah

Majid Al Futtaim opens Dhs2.6bn City Centre Al Zahia mall in Sharjah

It is the largest mall in the Northern Emirates within the UAE and will feature over 360 brands, including a 16-screen VOX Cinemas multiplex