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Dubai Developer Damac Says Profit Tripled In 2013

The developer said it booked sales worth $2.5 billion in 2013 compared with $661 million in the prior year.

DMC, DIC Land Prices Rose Around 30% In 2013 – TECOM CEO

Land prices in areas such as Studio City rose 15 to 20 per cent.

Nakheel To Auction More Plots In Jumeirah Park On Strong Demand

The developer said that it will auction off residential plots ranging from 7,750 to 8,700 square feet on March 4.

Dubai Developer Deyaar Plans To Expand Into Hospitality Sector

The developer said it has allotted up to one million square feet for hotel and serviced apartment projects in the city.

Nakheel Nets Dhs34m In Jumeirah Park Land Auction

The developer auctioned off eight plots, selling each for an average of Dhs4.3 million on Wednesday.

Nakheel To Auction Plots In Jumeirah Park

The plots, each measuring 8,820 square feet, will be auctioned off on February 26 in the Nakheel Sales office on Al Sufouh road.

Dubai’s Union Properties To Lift Foreign Ownership Cap To 25%

Foreigners currently own 4.35 per cent of the company, according to bourse data.

Emaar Launches New Luxury Apartment Complex At Dubai Hills Estate

Mulberry at Park Heights comprises of 330 apartments in close proximity to an 18-hole championship golf course.

Nakheel Confirms Repayment Of Dhs2.35bn Bank Debt

The Dubai developer announced earlier this year that it would repay Dhs4 billion of its bank debt in 2014, ahead of maturity in September 2015.

Tenants Become Investors As Abu Dhabi Engineers Property Rebound

Unlike Dubai, Abu Dhabi’s property market rebound appears to have been triggered by clever government intervention in the market.

Abu Dhabi Rents Shoot Up In Q4 2013

One-bedroom units in the emirate recorded the highest rise in rates as rents rose by 11 per cent in the last quarter.

Emaar, Abdul Latif Jameel Create JV To Develop Projects In Saudi

The new entity, called Emaar Jameel, will focus on developing integrated real estate projects in the Kingdom.

Dubai’s Property Market Sees Strong International Investor Interest

Along with domestic buyers, Dubai’s real estate market is recording a rise in institutional investors.

Nakheel Launches Luxury Residences At The Palm

Prices for the 504 units on sale at the Palm Tower Residences start from Dhs1.5 million.

Dubai’s Emaar Q4 Net Profit Up 48%, Beats Estimates

The developer, which launched several new projects last year, said its total value of sales in Dubai for 2013 was Dhs12 billion.

Nakheel Receives Six Construction Bids For New Mall On Palm Jumeirah

A construction contract for Nakheel Mall is expected to be awarded within three months.

Six New Tenants For Qatar’s London Shard

Restaurants Oblix, Aqua Shard and Hutong moved into the tower last summer.

Abu Dhabi’s Aldar To Refinance $2.2bn Debt This Year

The Abu Dhabi property firm is open to bank loans as well as bonds, according to the firm’s CFO.

RAK Properties Announces Dhs151m Profit In 2013

RAK Properties has said that the company is expecting a stronger performance in 2014.

Abu Dhabi Developer Aldar Q4 Profit Rises 79%

Profit rose on the back of gains from the acquisition of Sorouh and handover of residential units.

Dubai’s Damac Says Work On Trump Golf Course Proceeding “On Track”

The course is being designed by international golf course architect Gil Hanse.

Dubai House Prices To Reach Pre-Crisis Levels Next Year

The fast growth has raised concern about the potential of a property market bubble.

Dubai’s Official Property Site To Auction Units Worth Dhs190m

The third auction from eMart will feature five high-end commercial and residential properties.

Dubai’s Arabtec Holding To Set Up Five New Subsidiaries

Two of the units will focus on infrastructure projects, one on water and energy projects and one on the Egyptian market.

Nakheel Awards Contracts Worth $11m For Al Furjan, Warsan Projects

The contracts cover infrastructure design and supervision work in the two communities.

Most UAE Residents Rent Rather Than Buy Property – Survey

Rising property prices have pushed out potential home buyers, finds survey by propertyfinder.ae.

Emaar Regains Investment Grade Credit Rating As Dubai Booms

Without a government credit rating, Emaar’s rating is seen as an indicator of investor confidence in Dubai.

Sharjah Apartment Rents Rise 33% In Q4 2013

Apartment rents in popular areas such as Al Majaz and Al Nahda rose nearly 38 per cent in Q4 2013, a report says.

What Property Can You Buy In Dubai For $7m?

A villa in Palm Jumeirah and an apartment in Dubai Marina can be yours for $7 million, according to Knight Frank.

Deyaar’s Net Profit For 2013 Up 300%

The Dubai developer increased its gross profit for the year from Dhs199 million in 2012 to Dhs307.5 million.