Low oil prices mean Abu Dhabi’s real estate market is expected to be stable to negative this year, with a new rental cap under consideration.
Through the deal, a limited liability company specialised in real estate investment and development in Saudi Arabia will be formed.
The subsidiary of Dubai’s Emaar said profits reached $22.65 million in the first quarter of 2015.
The newly launched Maple community will feature 118 townhouses with three, four and five bedroom units.
Nakheel’s chairman reveals how he revived the company’s fortunes, and why he is confident Dubai’s property market will not crash again.
Al Naboodah will carry out the complete earthwork grading for the 31 million sq ft project.
The listed developer also projected a higher profit forecast for this year and approved a cash dividend worth Dhs1.07 billion.
Emaar Properties expects a 2015 net profit of Dhs3.695 billion, higher than the Dhs3.366 billion average forecast.
Over 60 per cent of residents plan to move to a new home before their next lease renewal, finds new survey.
The developer made a quarterly profit of Dhs55.2 million in the three months to March 31.
Properties in close proximity to the new stations may receive stronger interest, even in the short term, Valustrat said.
Real estate investments in the GCC were much lower compared to the region’s massive outbound spend of $14 billion last year.
Those finding abandoned plots of land in Dubai are required to report the property to the police within 48 hours.
The company’s latest portfolio of projects includes residential properties in Riyadh and Dubai and a commercial tower in Riyadh.
Apartment and villa prices in Dubai fell marginally in the first quarter compared to Q4 2014, the report found.
Mohamed Alabbar said there needed to be additional controls on local property companies when it came to attracting foreign investors.
The project is currently the only residential development on Yas Island that is available for sale to expatriates.
The Emaar chairman has refuted allegations that his role on the board of other property companies is causing a conflict of interest.
Saudi-based Binladin is the first company to win a contract for the mega 31 million sq ft Town Square development in Dubai.
The first phase of the project will consist of 240 one bedroom apartments with prices starting at Dhs536,892.
Apartment rates in Dubai saw a drop or gain between one and three per cent, while villa rates were largely unchanged.
The projects include a 12 million sq ft mixed used development in Deira Islands that will feature a massive mall with a glass dome.
There has been increased speculation that Mohamed Alabbar may leave Emaar due to his other commitments in the real estate sector.
The developer has launched 306 apartments including a mix of studio, one, two and three bedroom units in the initial phase.
The project in central London comprises 450 residential units as well as Grade A offices and retail space.
The company agreed terms last week with Egypt for the first phase of a $36.7 billion plan to construct one million homes across the country.
One area of uncertainty is the minimum size of land to be taxed, and whether the tax will apply only to completely undeveloped land.
Speculation persists that Mohamed Alabbar and Emaar could soon part ways despite a categorical denial from the firm last month.
The first phase will consist of 100,000 units to be built in Egypt’s El Obour and Badr districts.
Downtown Views will have 418 residences and will feature one, two and three-bedroom apartments as well as a collection of duplexes.