#Real Estate

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

Mubadala

Abu Dhabi’s $232bn Mubadala wants to take crack at Top 10

The fund is reshaping its structure to focus on four business platforms: UAE investments, disruptive investments, direct investments and real estate and infrastructure

Is now a good time to invest in Dubai property?

The simple, fundamental principle of investing dictates that you should buy low and sell high

Dubai Metro extension to benefit ‘thousands’ of investors and residents – Nakheel

Stations at Jebel Ali, Al Furjan, Discovery Gardens and The Gardens will start operating from New Year’s Day

Damac sees UAE property market recovery in two years

The impact of Covid-19 and a likely reduction in the UAE population will hamper the revival

Crowd investment platform Stake launches in UAE

Users can own a piece of real estate for as little as Dhs2,000

Emaar Development announces new chairman, Alabbar to remain in executive role

Adnan Kazim has been named as its new chairman in line with regulatory requirements

Sharjah’s Arada launches Naseej District; CEO ‘extremely bullish’ on outlook for 2021

The sales launch of the district’s first residential building, Tiraz 1, begins on December 16

Dubai Real estate

Real estate: New Dubai law issued for cancelled and unfinished projects

If RERA cancels a real estate project, a special tribunal will be responsible for liquidating it and ensuring settlement of all rights related to the project

Emaar appoints new chairman as Mohamed Alabbar takes on role of MD

Jamal Bin Theniyah will replace Alabbar as chairman, while the latter will assume the role of managing director

Investment lessons: Outbound Middle East capital seeks emerging asset classes

The considerable levels of dry powder available across the Middle East is expected to target diversification opportunities and long-term higher returns

Alabbar

Alabbar dismisses claims that Dubai’s Emaar has stopped building as “nonsense”

The Emaar boss also hit back at suggestions the company is responsible for an oversupply of properties

Noon and Emaar

Dubai’s noon.com offers luxury apartment during Yellow Friday sale

The raffle starts on November 26, and will conclude at midnight the following day