As per the deal, MBRF will extend part of its land bank to newly launched developer Nshama to build an integrated community project at a central Dubai location.
Listed on the DFM in 2007, the Dubai-based company was formed in 1975 to support the city’s residential development.
Shares in the Emaar Malls Group IPO were priced at Dhs2.90 per share, giving an overall sale value of Dhs5.8 billion.
The developer has awarded a contract for the project to Overseas AST Company.
Turner won the project management tender for the district, which will house the world’s tallest commercial tower, Burj 2020.
The average prime capital value for a skyscraper in Dubai stands at $620 per sq ft, according to a new index.
The company will use the loan to build residential and infrastructure projects in King Abdullah Economic City
The new luxury hotel, which is scheduled to open by 2018, will be operated by Anantara Spa and Resorts, the developer said.
UAE residents more inclined to invest in property rather than gold, finds new survey.
Several residents are being forced to move to the cheaper outskirts of Dubai or are also considering returning home abroad.
Dubai’s Real Estate Regulatory Authority will be introducing four new measures next year to regulate the sector.
The government needs to introduce incentives- similar to those initiated in the hospitality sector- to boost the number of affordable homes in Dubai, an expert says.
“Should we decide to list shares, the market will receive it well,” said Sanjay Manchanda.
The 5.5 million sq ft mixed-use development will include a total of 27 buildings.
The meeting was called to inform shareholders of the details of a $2.7 billion restructuring plan.
The hotel, which will consist of 1,250 luxury rooms and suites, is scheduled to open by 2018 and will be located in the downtown area
The restructured loan is repayable over a period of seven years, the company said.
The government might not introduce any fees on off-plan property sales if the property market self corrects, an expert says.
Spread across 9.5 million square feet, La Mer will feature commercial, leisure, residential and hospitality components.
Nakheel’s current residential leasing portfolio comprises almost 17,000 units at across Dubai.
Dubai World is offering creditors a series of incentives to lengthen a $25 billion debt restructuring deal.
Tighter government regulations and an increasing mismatch between buyer and seller expectations have tempered growth in the residential market.
All the latest news from the region’s biggest property event taking place in Dubai.
The 18-hole championship-standard course, ‘Trump World Golf Club Dubai’, will include a club house, restaurants and pro shop.
This year’s edition of the property event promises huge stands and mega launches, and expects over 35,000 attendees.
The project will include retail areas, parks, jogging tracks, streams, meditation nooks and sunken pavilions.
The prices for the penthouse apartments range from Dhs20.5 million to Dhs40 million, the company said.
Called eZayed, the platform allows for physical and online bidding on real estate.
Major projects being developed by Dubai Holding and its units, Dubai Properties and Tecom Investment will be displayed during the upcoming property show.
The development will feature nine low-rise residential buildings including apartments and townhouses positioned in five clusters that are 250 metres long each.