Home next Industry next Real Estate

Real Estate

Value Of Construction Projects In The UAE To Hit $315bn In 2014

Megaprojects in the pipeline and the ramping up of social infrastructure spend is boosting the market, says new report.

Nakheel Awards Dhs59m Infrastructure Contract For Al Furjan

Dubai-based Ghantoot Road Contracting has won the contract to undertake infrastructure work in Al Furjan Phase 2.

Gulf Investors Pour Dhs19bn Into Dubai’s Property Market In H1 2014

Emiratis accounted for the largest share of investment in Dubai’s real estate market- almost double the amount invested by other GCC nationals.

Dubai’s Damac Q2 Profit Up 18% As Property Sales Rise

The developer booked sales of $1.68 billion in the first half of 2014, up 75 per cent from a year earlier.

UAE-Based ACC Wins Construction Contract For Emaar Square In Jeddah

Hand-over of the first offices to customers in Emaar Square, a commercial development in Jeddah, is scheduled for 2016.

Skai Holdings Sells Out All Suites In New Dubai Hotel Project

The hotel called ‘Suites in Skai’ had 234 hotel rooms, 234 one and two bedroom apartments and 33 penthouses for sale.

Damac Acquires Dubailand Plot For $513m

The plot spread across 55 million square feet of land is almost 30 per cent larger than Damac’s current biggest project Akoya.

Regulations Make Dubai Property Sector “Stable” For Foreign Investors

Dubai’s real estate sector offers a number of medium to long-term investment options for foreign buyers, an expert says.

Dubai’s Depa Wins New Contracts Worth Dhs300m In Singapore, Netherlands

The contracts were awarded to subsidiaries of the interior contracting company.

Dubai’s Emaar Posts 41% Rise In Net Profit For H1 2014

The Dubai developer’s net profit was boosted by increased revenues from its malls and hospitality businesses.

RAK Properties Posts Dhs52m H1 Profit

The developer’s revenues amounted to Dhs149 million while total sales value reached Dhs234 million in the first six months of this year.

Abu Dhabi’s Aldar Properties Q2 Net Profit Up 168%

Revenue for the second quarter was Dhs2.19 billion, up 74 per cent year-on-year.

Dubai’s Luxury Property Price Growth Slows Sharply In Q2

With 25 to 35 per cent of buyers in Dubai depending on mortgages, regulations that limit lending have been instrumental in easing the growth in luxury house prices.

Bollywood Star Shah Rukh Khan Backs Dhs2.3bn Real Estate Project In Dubai

The Royal Estate project, which was stalled in 2008, was relaunched this year as a joint venture between developers Aristocratic Star, PAL Developments and Pacific Ventures.

Property Developer Damac Looks To List Shares On Dubai Bourse

The developer is offering its investors an option to convert its Global Depositary Receipts (GDRs), listed on the London bourse into ordinary shares that would be listed on Dubai’s stock market.

India’s Capital Gains Tax Levy To Affect Dubai’s Property Market

The revival of the capital gains tax on Indians buying property overseas could have a knock on effect on Dubai’s residential property market, according to a real estate consultancy.

Dubai Industrial Rents Rise Up To 47% In Certain Areas In Q2 2014

Growth in Dubai’s retail sector is stimulating demand for warehouse and distribution facilities, says report.

Dubai Records Real Estate Deals Worth Dhs113bn In H1 2014

Real estate deal value in Dubai fell to Dhs52 billion during the second quarter of this year from Dhs61 billion in the first quarter of 2014, official figures reveal.

Dubai Developer Deyaar Q2 Net Profit More Than Doubles

The company made a quarterly consolidated net profit of Dhs62.5 million ($17 million) compared with Dhs27.3 million in the corresponding period in 2013.

Dubai’s Rents Up Almost 50% During Last Two Years- CBRE

Residential rents in Dubai grew 20 per cent year-on-year during the second quarter of 2014, with apartments seeing the strongest rise, a CBRE report says.

Dubai’s Damac Says New Loretto Project Sells Out In One Night

The Loretto project, which has nearly 300 luxury apartments, is located in Damac’s flagship AKOYA development.

Abu Dhabi’s House Prices Soar 17% In H1 2014

Residential sales prices in the emirate grew seven per cent in the second quarter of 2014, a new report says.

UAE’s Second Tallest Tower Is 80% Complete, Says Developer

The Marina 101 project in Dubai, being developed by Sheffield Holdings, is slated for handover in early 2015.

Dubai’s Property Prices Grow 36% Y-O-Y In Q2 But Market Slowing, Says JLL

Residential rents in the emirate also rose 24 per cent year-on-year during the second quarter of 2014, according to a JLL report.

Saudi’s Dar al-Arkan Q2 Net Profit Up 17%, Misses Forecasts

Net profit in the three months to June 30 was SAR121.3 million ($32.3 million) compared to 103.7 million in the same period a year earlier.

Nakheel Launches New Mega Villa Project In Dubai

The project, which has an estimated construction value of Dhs2.5 billion, is expected to be completed by 2016.

Dubai’s Consumer Prices Rise Sharply In First Half Of 2014

Housing, water, electricity, gas and fuels recorded price increases of 4.6 per cent during the first six months of the year.

Exclusive: MAF Properties Planning Mixed-Use Project In Dubai

The project is expected to be launched in the next 12 months, confirms CEO George Kostas.

Sobha Group Launches $4bn Mixed-Use Project In Dubai

The project will comprise of residences, two international schools, nurseries, three hotels, mosques, a clubhouse, a retail centre and restaurants.

Ajman Emerges As Relocation Hotspot For Dubai, Sharjah Residents

Rents in Ajman are growing as budget-conscious residents move from Dubai and Sharjah, where rents have soared, finds Asteco.