The Louvre museum in the emirate is due to be completed in 2015.
The proceeds will be used to settle trade creditor claims against the Dubai developer.
The emirate’s real estate sector edged backed to life in 2012.
Apartment rents in Dubai rose seven per cent year-on-year, while villa rents increased six per cent year-on-year in 2012, says new report.
Well-known hotel sports ‘chic new look’ and aims to serve as a contemporary city escape for business and leisure travellers
Oil prices in 2013 are expected to be similar to prices in 2012, says UAE energy minister Mohammed Dhaen Al Hamli.
The French broadcasting station’s new venue will act as a fashion studio, a restaurant and a VIP night lounge.
A UAE central bank circular issued last week said mortgage loans for foreigners should not exceed 50 per cent of the property value.
Workers in Saudi Arabia are expected to see the biggest salary hikes in the region at six per cent, says new study.
The passenger complex at the new Dubai World Central Al Maktoum International Airport could open as soon as Q1 2013.
A new Carrefour hypermarket and a 14-screen Vox Cinemas multiplex are part of the mall’s renovation plan.
The Dubai-based lender already owns a 58.2 per cent stake in Tamweel.
Abu Dhabi-based Etihad could pay up to $330 million for a 24 per cent stake in Jet Airways, says source.
The project, located in Turkey’s Afsin-Elbistan region, is expected to start production in 2018.
Officials clarify that the UAE rule of decriminalising bounced cheques only applies to UAE nationals.
The telecoms operator plans to use the funds for the future growth of its business.
The Abu Dhabi-based airline is in final stages to acquire a part of the Indian carrier, say sources.
The UAE central bank recently issued a ruling to limit home loans to foreigners at 50 per cent of the property’s value.
EK003, which took off at 1439 from Dubai to London Heathrow, became Concourse A’s first flight.
Abu Dhabi National Energy Co(TAQA) confirmed that production was expected to begin in 2013.
The UAE is well capitalised but banking asset quality remains a concern.
UAE courts have stopped sentencing debt defaulters to prison since last month, say reports.
Exports rose 38.5 per cent to Dhs416 billion, driven by a rise in oil prices.
Government expenditure is up six per cent from 2012, while revenues are forecast to rise 7.8 per cent in 2013.
Arabtec and SS Lootah have been awarded the contracts for the Dubai developer’s Jumeirah Park development.
The Abu Dhabi airline is set to achieve a 22 per cent year-on-year increase in passenger numbers.
Foreigners buying real estate in the UAE can now only get a loan for up to 50 per cent of the property’s value, say sources.
The expansion dovetails with the opening of Concourse A, the world’s first purpose-built A380 concourse, at Dubai International Airport in January
The Emirates CAE Flight Training Centre services over 200 aviation clients and trains more than 10,000 pilots and technicians a year
As part of the deal, Emirates will become the official airline of the ATP World Tour and the new title sponsor of the ATP Rankings.