#Real Estate

Aldar eclipses Emaar as top UAE developer on $8bn deal

The company expects more government projects to come its way

Dubai Land Department fines 10 real estate companies, warns 30 for non-compliance with advertising laws

Each fine starts at Dhs50,000, and may escalate leading to cancellation of the licence of the violating real estate company

Union Properties Dubai Autodrome

Profits for Dubai’s Union Properties exceed Dhs500m in Q3 2020

The value of its assets increased 5 per cent from Dhs5.9bn to Dhs6.2bn

Saudi Arabia Riyadh

Saudi Arabia scraps VAT for property deals

However, a new tax of 5 per cent – the Real Estate Transaction Tax – will be levied on property deals in place of the VAT

Union Properties approves Dhs400m offer for stake in Dubai Autodrome

The board will continue to evaluate the acquisition of other real estate assets in the UAE

Galerija-Belgrade-3-852x568

Eagle Hills’ $3bn Belgrade Waterfront project ‘not profit-driven’ – Alabbar

Alabbar, founder of UAE-based Eagle Hills, was speaking at the pre-opening of the mega Galerija mall

Dubai Autodrome

Union Properties receives Dhs400m offer for a 40% stake in Dubai Autodrome

The company said its board will also discuss the acquisition of other investment real estate assets in the UAE

Majid Al Futtaim Elan Tilal Al Ghaf

Phase III of Majid Al Futtaim’s Elan neighbourhood in Dubai sells out in 48 hours

Construction on the Elan neighbourhood began in July this year

Dubai

Dubai Land Department introduces AI into real estate valuation process

The valuation will be provided via DLD’s app called Dubai REST

Abu Dhabi’s ADNOC, Apollo-led consortium enter into $5.5bn investment partnership

The transaction will result in upfront proceeds of $2.7bn to ADNOC and is expected to close before end of 2020, subject to closing conditions and regulatory approvals

UAE investor with $540m in cash says M&A spree not over

The Abu Dhabi-based company has amassed a portfolio spanning real estate to utilities and health care to food services

New real estate AR game attracts thousands in Abu Dhabi

More than 13,000 players ‘purchase’ more than 76,000 properties in Abu Dhabi

Kuwait pension fund plans to triple infrastructure investments

PIFSS had a record investment profit of $7.3bn in the three months through June

Dubai property market expected to pick up in H2 – Land Department chief

In June, real estate sales transactions grew by 64 per cent compared to May

Kuwait’s $112bn pension fund has cash to burn after revamp

Cash accounts for about 11.5 per cent of its investments, which the fund aims to cut to 4 per cent over the next seven months

Arada Aljada Sharjah

Arada awards Dhs423m construction contract for phase two of Aljada development in Sharjah

The East Village contract includes the construction of 16 apartment blocks with the project set to be completed by 2021

Covid-19 impact: Is this the right time to invest in Dubai property?

The housing market in Dubai remains a top choice among investors even at times of crisis

Dubai’s Emaar removes all job titles, with Alabbar also dropping his title of chairman

Alabbar said new business cards issued to employees will simply state their name with the department

Saudi Arabia’s Fannie Mae buys up $800m of mortgages

The refinancing company was established to buy home loans from banks and other finance companies, freeing up the lenders to book more mortgages

Dubai buildings

Sheikh Mohammed establishes new committee to ease issuing building permits in Dubai

The committee will list, analyse, revise and develop procedures for providing services related to the issuance of building permits

Dubai Land Department

Land Department launches ‘Invest in Dubai’ virtual platform to connect stakeholders

The virtual platform features stakeholders including developers, investors and brokers

Dubai

Dubai Developments Group offers tenants rent relief of upto six months

The package is valued at Dhs200m and expected to benefit over 1,500 businesses

New mega urban development project, Masar, launched in Saudi’s Makkah

The project will see the addition of “tens of thousands” of hotel and residential units in Makkah in later phases

Covid-19: All about investing in the real estate market during a pandemic

Serial entrepreneur and leadership trainer Spencer Lodge speaks to entrepreneur and investor Rob Moore

Amlak International announces intent to list on Saudi bourse

The offering will comprise of 27,180,000 ordinary shares

Dubai developer Nakheel reports villa sales worth Dhs223m

Ready-to-occupy, family villas at Nad Al Sheba are particularly in demand

Covid-19 impact on the GCC’s real estate sector: Are there any housing concerns?

How can real estate developers in the GCC adapt to the upheaval that the coronavirus has caused across the region?

EMPG and OLX Group merge MENA and South Asia operations to form $1bn Dubai-based tech company

With this merger, OLX has become EMPG’s largest single shareholder with 39 per cent of shares

Covid-19 impact on the UAE property sector: When will consumer confidence return?

In a post Covid-19 world, the property sector needs to adapt and re-align to meet customer demands and mitigate the long-term effects of the pandemic

Union Properties’ subsidiary begins legal proceedings to claim Dhs1.5bn

The claim is related to a project completed around a decade ago