Category: Real Estate & Construction

Dubai property developer Danube Properties announced the launch of its 11th project, a Dh550 million Lawnz at the International City.Construction of the project is expected to start in 2018 with completion in 2020. Lawnz is Danube Properties’ first project at the International City and its first gated complex. “This is our biggest project so far that will add 1,064 units to our existing portfolio and we are all excited to launch the project at the International City that has a very

DAMAC Properties, a leading luxury real estate developer in the region, announces the launch of Vera Residences, luxury apartments in the ever-popular Business Bay with breathtaking views of Dubai Canal. Strategically placed at the epicentre of one of Dubai’s business hot-spots, Vera’s close proximity to the prestigious Downtown Dubai district offers the ultimate lifestyle for those seeking a lively community with connectivity to the city.Vera Residences will go on sale on Saturday, 4 November, from 10am til 8pm at Jumeirah Emirates Towers Hotel

|By Arabian Post Staff|  EFS Facilities Services, a regional leader in delivering integrated facilities management services across the Middle East, Africa, South Asia,  announced that the company has sustained its growth momentum by securing contracts worth AED 1 Billion across its operating regions.The company was awarded key contracts in its biggest markets i.e. UAE, Saudi Arabia, Qatar, Jordan, and Egypt, for both public and private sector clients operating in various industries such as education, master communities, residential, and commercial entities. Buoyed

|By Arabian Post Staff| The trend of falling real estate prices in Dubai is expected to continue throughout 2017, real estate consultancy CBRE said in an annual report.“With an expanding pipeline of new units, current deflation trends are likely to continue throughout 2017, with many new homes set to complete, Mat Green, Head of Research & Consultancy UAE, CBRE Middle East said, The residential sector experienced further modest declines in rentals during Q4 2016, with a 1% dip in average

|By Saifur Rahman| Indian investment in Dubai’s real estate fell 40 per cent to Dh12 billion ($3.2 billion) in 2016, down from Dh20 billion ($5.4 billion) in 2015, Dubai Land Department reports show. However, Indian nationals remain the top foreign investor group by nationality.As has been the case in previous years, more than 7,000 UAE nationals from across the GCC, Arabs, and foreigners invested nearly Dh22 billion in 2016.Total investment in Dubai’s real estate also fell 32.5 per cent from

|By Saifur Rahman|Sales transactions fall 20.76% to Dh103 billionThe total value of land transactions declined marginally by 2.99 per cent to Dh259 billion in 2016, down from Dh267 billion recorded in 2015, and 18.8 per cent up from Dh218 billion recorded in 2014, according to Dubai Land Department (DLD) reports.The number of real estate transactions also declined 4.9 per cent to 60,595 last year, down from 63,719 recorded in 2015.“Over 41,776 sales transactions took place, representing a total value of

|By Arabian Post Staff| Dubai-based Shaikhani Group announced a major foray in Dubai’s property market with 11 real estate projects with a collective value exceeding Dh3.5 billion (US$950 million) that are in various stages of development.Shaikhani Group’s 11 projects will deliver 2,100 residential and commercial units in Dubai Sports City, Jumeirah Village Circle and Dubai Silicon Oasis. Of these, the company is at an advanced stage of completion of Dh1.5 billion worth of projects involving 1,250 units while the rest are

|By Arabian Post Staff| Abu Dhabi's Masdar City without light switches or water taps has much to teach people around the world about saving energy and precious resources.With its low-rise and energy efficient buildings, smart metering, excellent public transport and extensive use of renewable energy, the 2,000 citizens of Masdar City are living in a place which is a ‘green’ example to city planners around the globe.There are no light switches or water taps in Masdar City. Movement sensors control

|By Arabian Post Staff| The introduction of a new technique, using excavators that could virtually be called concrete-eaters, is set to revolutionize the way high rise structures are demolished in the UAE. The new method reduces the time required to bring down a high rise structure to a matter of days, instead of months and years required by conventional methods.The shorter time frames would mean much quicker turnaround times, with significant cost benefits, apart from enhanced safety features and the elimination

|By Arabian Post Staff| Ajman-based Tech Group, comprising a number of construction verticals, announced an investment of $100 million for the next three years, in what the company declares as an endorsement of the positive outlook for the country’s construction industry.Piling Tech, one of the group companies specializing in foundation engineering, design engineering and boring and driven piling systems, has acquired a new set of Soilmec SR-60 Evolution piling rigs.Group CEO Shiraz Hasan said the company would spend AED 370

|By TAP Staff|Indian nationals were ranked first for foreign investment in Dubai's property sector for the first half of this year, having made a total of 3,017 transactions worth AED 7.8 billion, according to statistics released by the Dubai Land Department.British investors were in second place having conducted deals worth AED 4.7 billion, followed by Pakistani investors with transactions worth AED 3.3 billion. Canadian investors came in at fourth place with transactions worth AED 1.8 billion. The list also included

|By TAP Staff| RP Global - part of RP Group of Companies, a global business conglomerate with an annual turnover of over US$4 billion – made its entry into the Dubai real estate market by breaking ground on its new multi-storey residential tower project RP Heights.RP Global will initially develop two prestigious projects in the heart of the city with a total development value of over AED 5.5 billion (US$ 1.5 billion). RP Heights, the first project in Downtown Dubai

A businessman has obtained a €1 million judgment against a developer arising out of a failed deal to purchase several apartments in Dubai. James Byrne (56), a native of Waterford now living in Dubai, claimed he gave €633,000 to Caoimhin McGeever, otherwise known as Kevin McGeever and his company KMM International Ltd, in 2006 to purchase three studio apartments and a duplex apartment close to the centre of Dubai. Mr Byrne said he neither got ownership of the properties nor return of

Shares of Arabtec Holding Co. (ARTC) climbed to the highest since July 16 as some investors speculated former Chief Executive Officer Hasan Ismaik is close to selling part of his stake in the builder.The stock added 2.5 percent to close at 4.57 dirhams, taking gains in the past four days to 7.5 percent. Arabtec was the biggest advancer and the most traded on Dubai’s DFM General Index today, which erased losses to close 0.1 percent higher.Khadem Al Qubaisi, chairman of

|By TAP Staff| Aldar Properties has reported a strong wave of demand for long-term, bulk lease deals from corporate clients. The lease agreements signed with corporate clients range from two to 30 years, providing Aldar with long-term security of income.Both local and international companies have signed bulk leases at Al Rayyana, The Gates Towers, The Arc, Sun and Sky Towers and Al Murjan Tower over the last year. These include key government entities from the education, defence and healthcare sectors.

American real estate mogul Donald Trump is planning "substantial investments" in the Indian property and hotel sectors, betting on Prime Minister Narendra Modi-led new government's efforts to revive the economic growth and boost infrastructure."I do see India as a great place to invest, and I think the election made that even better," said Trump, who was in India to launch Trump Tower in Mumbai, his first project in the country's financial capital, in collaboration with India's Lodha Group.Trump was referring

Dubai government-owned property developer Meraas Holding is considering selling shares to the public as the regional real-estate market continues its rapid recovery from the financial crisis, according to three people familiar with the matter.The real-estate company, which has close links to Dubai's ruler Sheikh Mohammed bin Rashid Al Maktoum, recently sent a request for proposals to banks who have until September to reply, said one of the three people who has seen the RFP. Meraas is asking banks to advise

Aldar Properties, the developer that took over Sorouh Real Estate Co. last year, dropped in Abu Dhabi after reporting quarterly profit that missed estimates.The shares fell 3.2 percent to close at 3.65 dirhams. Aldar, which has the fourth-highest weighting on the benchmark ADX General Index (ADSMI), helped drag the measure down 1.2 percent.Second-quarter net income surged to 506 million dirhams ($138 million) from 189 million dirhams, after excluding 1.06 billion dirhams of a one-time gain related to the takeover of

PineBridge Investments, a New York-based asset manager, said on Tuesday its Middle East unit had raised $140 million for a sharia-compliant fund that would invest in income-producing real estate assets in Gulf Cooperation Council countries.PineBridge Investments Middle East's fund will acquire existing real estate assets that generate stable returns, with a focus on the logistics, social infrastructure and community retail sectors, chief executive Talal Al Zain told Reuters.Al Zain, a former chief executive of Bahraini sovereign wealth fund Mumtalakat who

The chief executive of Arabtec Holding has raised his stake in the Dubai-based contractor to 21.46 percent, the company said, in an investment worth about $1 billion which it described as a vote of confidence in the group's prospects.Hasan Ismaik, who has been leading a growth strategy at the company since taking charge early last year, bought the shares because of "his strong belief in the company's sound strategy and high potentials", the statement said.It did not specify over what

Donald Trump, the New York real-estate mogul, is back in Dubai with plans for a golf course and 104 mansions three years after a plan to build a hotel tower bearing his name was scrapped.Trump was involved in conceiving the 18-hole course, designed by Gil Hanse, while his daughter Ivanka oversaw the design of the houses, the star of TV’s “The Apprentice” said today at a press conference in Dubai. Damac Real Estate Development Ltd., a Dubai developer listed in

Kingdom Tower, the Saudi skyscraper set to be the world’s tallest building, will probably have construction funding in place by the end of the first half, the developer’s chief executive officer said today.The company is in talks to bring in Riyadh-based Alinma Bank as an adviser and lender, Mounib Hammoud, CEO of Jeddah Economic Co., told reporters today on the sidelines of a conference in Dubai. BNP Paribas (BNP) SA is currently advising the company, he said, without disclosing the

According to international real estate consultancy firm Cluttons, an upsurge in economic confidence following Dubai's World Expo 2020 win, has led to heightened demand for commercial office space in the emirate. Rents for prime Grade A space in particular have continued to climb with a 10% increase recorded in Q1, pushing average rates in this category to AED 220 per square foot.Cluttons Dubai Spring 2014 Commercial Market Outlook report, asserts that the rising tide of occupier demand is having a

Abu Dhabi real estate developer Aldar Properties will consider floating its property management unit Khidmah through an initial public offer of shares in coming years, the company said in a statement on Sunday.Aldar, which is majority state-owned and is Abu Dhabi's largest property firm, is the majority shareholder in Khidmah with a 60 percent stake."We believe there is a strong case to consider listing the company in the coming years," Abubaker Seddiq Al Khoori, chairman of Khidmah and Aldar Properties,