The developer’s results beat analyst expectations due to gains in retail and hospitality operations.
The Dubai-based developer said that it had no plans to tap debt markets in 2012.
One of Abu Dhabi’s largest developers said that it expects residential rents in the emirate to drop further this year.
The new units are being developed by Saudi’s housing ministry as part of a larger affordable housing strategy.
The capital emirate needs a real estate enforcement body like Dubai, said Sorouh and Cluttons.
Experts say that residential rents in the emirate fell up to 18 per cent during the first quarter of the year.
The contract includes the construction of a residential development in Abu Dhabi.
The UAE-based mortgage lender recorded a net profit of Dhs18 million during the first quarter of the year.
Property prices in the city are hitting early 2008 levels, and the rental market is also positive, says a new report.
The Dubai-based developer reported a net profit of Dhs1.3 billion for 2011.
Dubai-based builder Arabtec has nominated four top Aabar executives to its board.
The UAE-based construction company will eye major contracts in Qatar this year.
Amid regional unrest, providing affordable housing for the Gulf’s growing masses has become a priority.
Update: The Kuwaiti developer’s shares have now resumed trading on Dubai Financial Market.
The rental rates for apartments and villas rose by one per cent in Q1 2012 compared to Q4 2011, according to Asteco.
The Dubai-based property developer saw overall revenues for 2011 falling by 33 per cent compared to 2010.
While authorities have taken steps to improve the rights of workers at Saadiyat island, more is needed, says Human Rights Watch.
The property developer said that it will discuss the proposal with shareholders during its annual general meeting on April 23.
However, the UAE Economy Minister said that resuming trade in Amlak stocks will take more time.
The Dubai-based property developer retained four of its current eight board members and added seven new members.
The Dubai developer also said that its funding needs have eased, and that it has no plans to renew talks with Aabar for a stake sale.
The Abu Dhabi property developer, which is eyeing a possible merger with Aldar, replaced its chairman last week.
The merger talks between the two Abu Dhabi-based developers are in compliance with corporate governance, a senior official has said.
Thailand island investors on The World development have been offered a full refund.
The Abu Dhabi Securities Exchange has denied reports that it’s going to investigate trading patterns of Aldar and Sorouh.
The Bahraini investment company has acquired a portfolio of properties in the San Francisco Bay Area for $65 million.
Government-owned Dubai Group is currently reviewing the potential sale of the Manhattan-based property.
The UAE-based property developers are discussing ways to merge in a government-backed tie-up.
Dubai will soon welcome two large hotels located in close proximity. But will they be able to co-exist and attract enough demand?
The hotel group has 15,000 rooms under development in the MENA region and is planning further expansion.