Finance ministry and ICD venture Bidaya will submit an application for a licence as soon as regulations under the kingdom’s mortgage laws are finalised.
Calls for investors in projects consisting of 27 million square metres of new prime floor space and 220,000 homes.
The waterfront development includes 225 residential apartments and a 200 room five star hotel.
The developer has launched three new projects in Abu Dhabi worth $1.4 billion, it said in a bourse statement.
The launch continues Deyaar’s move into the hospitality sector.
Emiratis invested around Dhs7 billion in Dubai property while Indians continued to be the top foreign investors with transactions worth Dhs5.8 billion.
The developer has appointed AE7 for design, supervision, architectural and engineering services.
Rising volumes of cash transactions and off–plan sales could inflate prices to 2008 levels, an expert has said.
The property developer said the net profit hike was mainly due to increased sales of developed properties at higher gross margins.
Residential rental growth is expected to continue until there is adequate supply in the market.
The new collection of Mira Oasis townhomes follows strong investor interest, said the Dubai developer.
The emirate recorded sales activities worth Dhs31.5 billion and mortgage transactions worth Dhs28 billion in Q1 2014, the land department says.
The project will include 388 serviced living units, with prices starting at Dhs625,100.
Apartment and villa rents in the emirate grew by five and three per cent respectively in Q1 2014, a new report says.
Perdana Quay, launched by Tradewinds Corporation, is an integrated leisure, retail, residential and commercial development.
The Dubai developer said it handed over 400 units during the first quarter of the year.
The UAE capital recently removed its five per cent rent cap, which is already impacting rates, says CBRE report.
Sports City recorded the largest rise in rents as rates grew by 41 per cent, a report says.
Emirates REIT will raise $175 million in the IPO, which was 3.5 times oversubscribed, by selling 128.68 million new shares.
The Abu Dhabi real estate developer owns a 60 per cent stake in property management firm Khidmah.
The agreements cover 13 communities including Palm Jumeirah, The Gardens, Discovery Gardens, Al Furjan, and International City.
The company said the shareholders approved the allocation at a meeting on Thursday.
Abu Dhabi’s prime properties recorded modest rental growth while rates in most lower end areas remained unchanged.
The size of the issue was expanded to $650 million from the originally planned $500 million.
Sami Asad, formerly the CEO of Arabtec’s Construction Group, will now lead the newly created subsidiary, Arabtec Egypt.
The sukuk is expected to launch and price on Wednesday.
The proceeds will be used for Damac’s general corporate purposes.
European real estate investment from the Middle East reached nearly €10 billion ($13.7 billion) in 2013, finds CBRE report.
The community will feature 177 villas in four styles.
The deal, awarded to Ginco General Contracting, covers the construction of 936 townhouses at Warsan Village.