The project will be spread across a total area of 25 million square feet and will be located along Emirates Road.
In March, Arabtec said it would build one million homes in Egypt in a $40 billion project backed by the Egyptian and UAE governments.
Brent crude oil sank to a four-year low below $83 a barrel last week because of ample supply and the prospect of a weak global economy.
The new hotels and serviced residences will be launched over the next five years across Dubai, Abu Dhabi, Jeddah and Istanbul.
The project is expected to be completed by December 2016, the developer said in a statement.
Emaar said the sale of the land, which is yet to be concluded, was in the “normal course of business”.
Badrah Pavilion is Nakheel’s sixth neighbourhood retail centre and will serve 800 homes at the developer’s Badrah and Veneto communities.
The project is the highest residential development in Palm Jumeirah and is scheduled to be finished by 2017.
The developer reported a net profit of Dhs2.6 billion, aided by strong growth in its retail and leasing businesses.
Luxury SQft will focus on the UAE’s affluent areas and will have only 100 real estate agents promoting their properties.
As per the deal, Omagine LLC will design, develop, own and operate a mixed-use project called the Omagine Project in the Sultanate.
Although this year’s Cityscape saw bigger displays and numerous new project launches, experts say the market is leveling off.
The developer is also looking to list its hospitality unit following the $1.6 billion Emaar Malls Group listing last month.
The contract is for work in Al Furjan Phase 2 and covers the construction of 16km of roads at the community.
The areas that command the least residential rental rates in Dubai, as compiled by propertyfinder.ae.
The new mixed-use development is located in the Saadiyat Cultural District.
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.