#Real Estate

Abu Dhabi’s Aldar considering more deals in Egypt real estate

The developer may invest between $1bn to $1.5bn in the next 12- to 18 months on acquisitions abroad and at home

Emaar properties Dubai

Dubai’s Emaar Properties reports $1.93bn property sales in Q1 2021, up 83% y-on-y

Its net profit increased 8 per cent from $166m in Q1 2020 to $179m in Q1 2021

Abu Dhabi

Abu Dhabi records Dhs11.5bn real estate transactions in Q1 2021

The value of mortgages exceeded Dhs6.5bn generated from 2,092 transactions

Dubai’s Emaar appoints new board, approves dividend plan

Emaar Properties reported a 57.8 per cent drop in net profit for 2020

Easa Saleh Al Gurg tenants in UAE can pay rent through direct debit

ESAG partners with National Bank of Fujairah to offer digital payment system

Saudi Prince reportedly sells English country estate to Bahrain’s King

The sale price was more than $165m, according to sources

Has Dubai’s property market ‘bottomed out’?

Cityscape’s Chris Speller reveals the trends shaping Dubai’s property market and plans for the emirate’s biggest property exhibition

Outlook for the year 2021 is ‘positive’, despite Covid-19 fallout, says Al Habtoor chairman

The real estate sector in Dubai recorded a strong sales growth of 17 per cent in January 2021

Sharjah Alef Group Al Mamsha

Sharjah’s Alef Group begins construction on Dhs213m Al Mamsha Phase 3

The development includes 612 residential units spread over six buildings and retails space that spans 1,852 square meters

Arabtec Holding

Arabtec confirms filing for bankruptcy in Dubai Court

The bankruptcy judge decided to appoint a panel consisting of seven experts to examine the application

Majid Al Futtaim Al Mouj Muscat

UAE’s Majid Al Futtaim launches Dhs28m villas in Al Mouj Muscat development

The six-bedroom Zunairah mansions have private infinity pools, landscaped gardens and direct access to the beach

Dubai 2040 Urban Master Plan

Sheikh Mohammed launches mega Dubai 2040 urban development plan

Nature reserves and rural natural areas will constitute 60 per cent of the emirate’s total area, while land used for hotels and tourist activities will increase by 134 per cent

Majid Al Futtaim City Centre Al Zahia mall Sharjah

Majid Al Futtaim opens Dhs2.6bn City Centre Al Zahia mall in Sharjah

It is the largest mall in the Northern Emirates within the UAE and will feature over 360 brands, including a 16-screen VOX Cinemas multiplex

Emirati, Israeli entities partner to introduce green technologies regionally

One of the initial projects will be to work to integrate Israeli urban green technologies into commercial and residential real estate projects

Investcorp Is said to raise $1bn for North American deals

The money manager is the Gulf’s largest private investor in US real estate

Dubai real estate market may bottom out next year, S&P says

A property glut and faltering demand in the Middle East’s business hub have driven prices down by more than a third since the market peaked some seven years ago

Dubai-listed Emaar Properties and Emaar Malls announce merger plans

As part of the transaction, the existing business of Emaar Malls will be reconstituted in a wholly owned subsidiary of Emaar Properties

Trump’s Dubai golf expansion gets delayed until at least 2022

The 18-hole course designed by Tiger Woods is reportedly facing another delay

Work progresses on One Za’abeel project in Dubai with Tower B topped out

The One Za’abeel project includes two towers and ‘The Link’ – claimed to be the world’s longest cantilevered structure

Dubai South Properties The Pulse Villas

Dubai South Properties launch The Pulse Villas, 50% sold out

Located within Dubai South’s Residential District, the villas have a built-up area ranging from 1,894-2,720 square feet

Abu DHabi real estate

Value of real estate transactions in Abu Dhabi totalled Dhs74bn in 2020, up 28% y-on-y

In 2020, there were 19,000 transactions executed, including sales and mortgages of land, buildings and real estate units for all types of land use

Dubai’s Emaar Properties posts 58% slump in net profit for 2020

Emaar now has a total sales backlog of Dhs36.677bn, of which Dhs24.738bn is in the UAE

Aldar properties abu dhabi

Aldar Properties reports revenue of Dhs8.39bn for 2020, up 17%

Its 2020 gross profit also rose 8 per cent to Dhs2.98bn

Aldar Asteco

UAE’s Aldar Estates acquires Asteco Property Management

Aldar Estates now manages more than 32,000 units under property management and nearly 28,000 units under owners’ association management

UAE property market will take about two years to recover – Damac boss

2020 was a “very tough year” for all property developers, said Hussain Sajwani

Abu Dhabi launches programme to attract expatriates

The ‘Thrive in Abu Dhabi’ initiative invites foreigners and their families to settle down in the capital emirate

Abu Dhabi National Exhibitions Company

ADNEC to oversee two Anantara properties in Abu Dhabi

It takes the total number of hotels under ADNEC’s umbrella to five, including Aloft Abu Dhabi, Andaz Abu Dhabi Capital Gate and Aloft London Excel

UAE oil firm ADNOC gets $900m investment in property unit

Abu Dhabi Pension Fund is investing in some of ADNOC’s real estate assets

Khalaf Al Habtoor

Al Habtoor opens booking for new luxury residential tower along banks of Dubai Water Canal

The 73-storey Amna Tower features 537 luxury units, including four ultra-luxury penthouses

Video: Saudi Crown Prince announces car-free, zero-carbon city, ‘The Line’

Located within NEOM, the city is expected to house one million residents and create 380,000 jobs by 2030