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Alabbar

Alabbar dismisses claims that Dubai’s Emaar has stopped building as “nonsense”

The Emaar boss also hit back at suggestions the company is responsible for an oversupply of properties

Emaar’s Alabbar confirms that it has halted new projects as Covid hits property demand

Home prices in Dubai have slumped by more than 30 per cent since 2014

Revealed: Winners at the 2020 Gulf Business Awards

The awards acknowledged champions from across the region’s business spectrum

Deyaar awards Dhs370m contract for final phases of Dubai’s Midtown project

Deyaar is offering a flexible payment option with initial payment of 10 per cent

Nakheel CEO Naaman Atallah[4] copy

Dubai developer Nakheel appoints new CEO

Naaman Atallah, the former CEO of Piramal Realty in India, has been appointed to the role

Aldar Properties’ Noya project sold within four hours of launch

The sale generated over Dhs1bn

Government employees in Abu Dhabi to receive full housing allowance

Citizens and residents living in Abu Dhabi are entitled to full housing allowance and rent stipend in line with their job grade

Developer Arada begins handovers at Sharjah’s Nasma Residences

The first five phases of the community are fully sold out

Real Estate

Revealed: The most transparent real estate markets in the MENA region

Dubai and Abu Dhabi have been ranked as having the most transparent property markets in the region according to JLL’s latest index

Cityscape’s Real Estate Summit opens in Dubai

This year’s edition of Cityscape was co-created with regional real estate industry stakeholders

Sharjah UAE

Sharjah real estate transactions total Dhs4.6bn in Q3 2020, up 10% y-on-y

There were a total of 14,854 real estate transactions completed in Q3 this year

Merits and demerits of short- and long-term rentals in UAE

Both short-term and long-term options are essential for a healthy property market

Is proptech a real game changer for the real estate sector?

Disruptive technologies have propelled specialised tech solutions focused on real estate and property management

Dubai’s Emaar Properties posts 45% slump in net profit for Q1-Q3 2020

The developer’s revenue figures for Q1-Q3 2020 totaled Dhs13.37bn

New Dhs600m floating hotel, houses project coming soon to Dubai Marina

Sea Palace floating resort and moveable villas have been developed by a shipbuilding company

UAE’s Danube Group reimburses salary cuts made during Covid-19

Earlier this year, Danube Group distributed Dhs1m worth of food kits across the UAE

Bahrain’s Investcorp sells eight US properties for over $900m

The properties were garden and townhome-style apartment buildings located in major metropolitan areas

Abu Dhabi

Abu Dhabi announces rental discounts for additional private sector businesses

Beauty and hair salons, dental clinics and nurseries in the emirate can apply for a 20 per cent rebate

Dubai’s real estate space: Is demand catching up?

As demand starts to rally, developers need to ensure they keep pace with the changing requirements from investors

Customers can now co-own an Ellington Properties’ home in Dubai through SmartCrowd

Customers can co-own residential properties and earn healthy returns on their investments, for as low as Dhs5,000

Building back: Is Dubai’s real estate market rising again?

The emirate’s real estate sector has witnessed signs of a rebound in the wake of easing Covid-19 restrictions

Oman

Oman planning its biggest property trust IPO

Oman REIT Fund is planning an initial public offering that could raise about $100m

Aldar eclipses Emaar as top UAE developer on $8bn deal

The company expects more government projects to come its way

Aldar, ADQ sign agreement on Dhs30bn of Abu Dhabi projects

Aldar will also have management oversight of Musanada projects ranging from education, healthcare, infrastructure, social services and facilities management

Dubai Land Department fines 10 real estate companies, warns 30 for non-compliance with advertising laws

Each fine starts at Dhs50,000, and may escalate leading to cancellation of the licence of the violating real estate company

Aldar HQ Abu Dhabi

Aldar Properties offers UAE frontline workers Dhs4,000 Yas Mall vouchers, refunds on property purchases

Those eligible for this scheme will also be offered a 30 per cent discount across Aldar’s hotels, golf resorts and food and beverage outlets

Union Properties Dubai Autodrome

Profits for Dubai’s Union Properties exceed Dhs500m in Q3 2020

The value of its assets increased 5 per cent from Dhs5.9bn to Dhs6.2bn

Dubai’s Damac Properties awards contract for Zada project

The contract worth Dhs181m was awarded to Trans Emirates Contracting to begin main work on Zada

UAE’s Al Habtoor Group completes preparations for Cairo office

The office will act as a liaison unit, and will be tasked with finding opportunities in the local market

Saudi Arabia Riyadh

Saudi Arabia scraps VAT for property deals

However, a new tax of 5 per cent – the Real Estate Transaction Tax – will be levied on property deals in place of the VAT