Home next Industry next Real Estate

Real Estate

Dubai’s Nakheel Says Not Seen Drop In Property Prices

Although the developer recorded a slowdown in sales during the second half of 2014, prices have stayed the same, says chairman.

Dubai’s Limitless Gets 85% Creditor Assent For Debt Extension – Chairman

The firm is seeking a three-month extension to a debt repayment due at the end of 2014.

Dubai’s Nakheel 2014 Net Profit Jumps 43.2% Despite Revenue Slump

The company made a net profit of Dhs3.68 billion ($1 billion) in 2014, up from Dhs2.57 billion in 2013, its chairman said.

Reef Real Estate Launches New Residential Tower In Jumeirah Village Circle

Reef Towers will comprise of 378 units and seven retail units, the developer said.

Dubai’s Property Market Will Be Driven By Homeowners – Emaar’s Alabbar

The emirate’s real estate market is also seeing a growing demand for affordable luxury homes, he said.

UAE’s Al Hamra Real Estate Says Increases Loan To $340m

The loan will be used for capital expenditure and general business purposes, Al Hamra said in a statement.

UAE-Based H Holding Enterprise Launches New Property Arm In The Middle East

The newly launched firm is aiming to establish a real estate portfolio worth Dhs500 million by the end of this year, the company’s chairman said.

Dubai Residential, Hotel Real Estate Markets Peaking -JLL

Dubai’s residential sector is likely to remain subdued over the next 12 months with the market absorb 25,000 extra units in 2015.

Dubai’s Emaar Says Banks Slash Interest Rate On $500m Loan

Emaar said the pricing on the loan had fallen by 1.5 per cent.

Saudi Housing Minister Says Aiming To Tax Undeveloped Land

The minister’s comments suggested increasing political momentum for the tax, which could provide the government with additional revenues.

Dubai’s Property Deal Values Fall 7.6% To Dhs218bn In 2014

Real estate deal values have declined from 2013, according to the Dubai Land Department.

Cayan Group Launches Projects Worth Dhs1.2bn In Dubai, Riyadh

The company has purchased plots in Dubai’s Umm Suqeim area and Riyadh’s King Fahed Road to develop its latest projects.

Nakheel Forms New JV Company To Lease And Sell Properties In Dubai

The new company, created through the joint venture, will operate under the Engel & Völkers brand, the developer said.

Dubai’s Damac Shares Surge On Home Market Listing

Damac traded at Dhs3.19, up 14 per cent from its London close last Friday.

Bahrain’s Arcapita Sells $1.4bn Stake In Lusail Golf Development

The investment firm sold the development rights to a plot of land measuring 3.66 million sqm in Qatar’s Lusail City

Buying Property In Dubai May Be Cheaper Than Renting It – Report

Certain locations in the city including International City and The Greens offer cheaper monthly mortgages, finds research.

New Private Luxury Villas To Be Developed In Dubai’s World Islands

The series of private island villas will be located within the OQYANA World First development forming the continent of Australasia.

Property Firm Damac To List On Dubai Bourse On Monday

Damac received approval from the UAE Securities and Commodities Authority in December to list on the DFM.

Dubai’s Emaar Eyes Strong Growth As It Revamps Organisational Structure

Under the new structure, the company will focus on carrying out professional project management, ensure timely delivery of all projects and improve its customer service.

Emaar Properties Names Amit Jain As Group COO

Jain was previously executive director of finance and group chief financial officer at Emaar, according to the company’s website.

Dubai Investments Sees $2.7bn Of Property Projects

Dubai Investments is seeking to profit from a market recovery in the emirate after one of the world’s worst property crashes during the financial crisis in 2008.

Saudi Telecom To Book $166m Gain On Land Transfer To Government

The company originally announced in June that the government had seized a 1.05 million square metre plot in the Al Faisaliah district of Riyadh with a book value of SAR105.3 million.

Emaar Properties Says Dubai Real Estate Head To Leave At Year-End

The firm said that it would make a further announcement on its organisational structure at a later date.

Healthy Dubai Real Estate Market Can Ride Out Cheap Oil

Experts say that Dubai real estate would not be able to escape a temporary impact from cheaper oil but noted that the economy is well diversified to sustain the lull in oil prices.

Dubai Developer Omniyat Says 81% Of Units Sold Off In New ANWA Project

The Dhs600 million seafront project registered Dhs432 million in sales during the first phase of launch.

Dubai’s Off Plan Property Sales On Rise – Cluttons

The emirate’s off-plan sales market has been attracting strong investor interest despite a fall in house price growth, a new report says.

Dubai House Rents Stabilise But Still Far From Affordable –CBRE

Residential rents in Dubai grew just seven per cent in 2014 while sales prices rose 18 per cent, a new report says.

Abu Dhabi’s Aldar To Cut Debt By Over A Third Within Two Years

The reduction is down to Aldar using some of the money due from Abu Dhabi’s government to repay debt, its CFO said.

Qatar’s Barwa Real Estate Wins $206m Warehouse Contract

The 25-year arrangement was awarded by state-owned Manateq.

Emaar To Distribute $2.45bn Special Cash Dividend On Dec. 23

The special cash dividend follows the successful IPO and listing of the Emaar Malls Group.