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aldar

Mercedes-Benz to open world’s first AMG showroom on Yas Island – Retail

Aldar Properties has signed a partnership agreement with Al Fahim Group to bring the world’s first Mercedes-Benz and AMG showroom and express service centre to Yas Island. Construction is scheduled to start in the fourth quarter of 2017, with handover to Al Fahim Group in early 2019, Aldar said in a statement. The 5,900 sq m Mercedes-Benz and AMG showroom represents a sizable portion of the gross [...]

Aldar seals $163m deals at new affordable homes project – Property

Aldar Properties on Saturday announced that all homes in the third tower of its The Bridges affordable project has sold out. Following the strong demand for the first two towers of The Bridges at Cityscape Abu Dhabi, Aldar said the apartments in tower 3 were sold in just four hours, taking the total value of sales across all three towers to AED600 million ($163 million). Unit prices [...]

Aldar appoints Emaar Hospitality Group’s Vida Hotels and Resorts to operate Shams Marina resort on Abu dhabi’s reem island

Located on Reem Island, Vida Beach Reem Island Abu Dhabi and Vida Residences Beach Reem Island Abu Dhabi will add to the portfolio of Emaar Hospitality Group's upscale lifestyle hotel brand Scheduled to open in 2020, the iconic hotel and extended stay serviced residences overlook the Arabian Sea within a marina setting Vida Beach Reem Island Abu Dhabi will feature 262 guestrooms and suites, and [...]

Emaar Hospitality Group unveils 6 new hotel projects in the UAE and global markets at ATM 2017

· Emaar Hospitality Group, which marks its tenth year in operation, now has 26 upcoming projects · Showcases its portfolio of 10 operational hotels and three serviced residences, and other new properties at the premier travel, tourism and hospitality event 24 April 2017Dubai, UAE - Emaar Hospitality Group, the hospitality and leisure business of Emaar Properties, today unveiled six new hotel projects as part of its regional [...]

Icon maker: Mohamed Khalifa Al Mubarak, CEO of Aldar

For the few who might not be familiar with the business, what's the story behind Aldar? Aldar was founded just over a decade ago in 2005, and is now the leading real estate lifestyle developer in Abu Dhabi. Since we began, we have always pushed boundaries, resulting in some of Abu Dhabi’s most iconic real estate projects. Our business focuses on two main areas – real estate [...]

Developer plans new $520m investment in Abu Dhabi islands

Aldar Properties has announced further details of its current investment programme to include mid-market residential, hospitality and retail assets on Yas Island and Reem Island.  The developer said in a statement that they amount to a total of AED1.9 billion ($520 million) and follow the AED1.1 billion already invested in the Daman House acquisition, Al Jimi Mall extension, Al Mamoura school and Repton school.   All projects announced [...]

UAE's Aldar set to open 2.4km Reem Island canal

Aldar Properties has announced that it is preparing to open one of its key amenities within its Shams development on Reem Island – a 2.4km canal running through the heart of the community. Final testing and commissioning work is well underway ahead of its scheduled flooding in early April, the developer said in a statement.  The canalscape, featuring 450 trees, covers an area of 46,000 square metres, [...]

Reem Island canal nears completion

ABU DHABI// A new 2.4-kilometre canal on Reem Island is undergoing final testing before opening next month.Developer Aldar Properties said commissioning work on the project is well under way ahead of the scheduled flooding in April.The canal, which is crossed by 10 bridges, runs through the Shams development and features landscaping with 450 trees, covering an area of 46,000 square metres."Shams is becoming one of the most [...]

Cityscape Abu Dhabi sees strong demand from developers

Record investment deals on the show floor of Cityscape Abu Dhabi in 2016 have resulted in more than 90 percent of show floor space already sold for this year’s event, the organisers have announced. With sales permitted directly from exhibitor stands for the third year running, a host of new property developers have confirmed their participation at the three day event in April. Organisers said that the [...]

The majlis: Making life changes doesn't have to be hard

I didn’t previously lead a healthy life. I had no idea what superfoods were until quite recently, and until I was 21 (three years ago), had never ordered a salad in my life. But after I graduated from university in the United Kingdom two years ago, I started to change all that. I had to change my lifestyle at some point. I wasn’t overweight, but I have [...]

National Fund to support Emiratis raises hundreds of millions of dirhams

ABU DHABI // A private philanthropic fund set up to support Emiratis in education, their careers, and encourage entrepreneurship has raised hundreds of millions of dirhams in its first year.Initiated in April by a group of Emirati businessmen, Sandooq Al Watan, or National Fund, aims to develop the economy by supporting social entrepreneurship, providing Emiratis with career guidance, identifying and developing talent and funding research and development. [...]

Investigators search for clues for cause of Dubai Palm Jumeirah blaze

DUBAI // Experts are trying to determine the cause of a fire that swept through a Palm Jumeirah apartment block, leaving residents stranded and waiting to get back into their homes. Pictures of the blaze in the Adriatic building, which is part of the upscale Oceana complex, flooded social media on Monday night, and Dubai Media Office said the building was safely evacuated and no major injuries [...]

Abu Dhabi appoints new heads of state airport and tourism entities

Abu Dhabi has revamped the boards of two key state-owned entities, Abu Dhabi Airports and the Tourism Development Investment Company (TDIC), which are handling some of the emirate's biggest development projects. Company sources gave no reason for the changes, which occurred last month and replaced Ali Majed al-Mansouri, who had served as Abu Dhabi Airports chairman since 2012 and TDIC chairman since 2014. Like other governments in [...]

10 things to do today: Book tickets to a James Bond exhibit, see the new horror film Havenhurst, and more

Your daily guide to community and cultural activities across the Emirates for November 29, 2016, including performances, festivals, art exhibitions, film screenings, health and fitness events, talks, classes, workshops and family fun.newslideAbu DhabiArt exhibitionVisit The Galleria on Al Maryah Island and see an exhibition by photographer Mark Luscombe-Whyte, who specialises in Arab architecture, including images of the Sheikh Zayed Grand Mosque. Enjoy a journey through the capital [...]

Aldar awards Aed 30 million early works contract for Mayan

ABU DHABI, UAE 13 November 2016 Aldar Properties PJSC (‘Aldar’), Abu Dhabi's leading listed property development, investment and management company, has awarded the early works contract for the first phase of Mayan, a luxury residential development located on Yas Island, to Dutch Foundation & Concrete Rehabilitation Company WLL. The AED 30 million contract provides for shoring, piling and earthworks for Mayan’s 512 luxury apartments which are spread across [...]

HSBC cuts Emaar price on property slump

HSBC Holdings cut its price estimates for Dubai developer Emaar Properties and peers including Damac Properties Dubai Co., predicting falling revenue and declining property prices in the United Arab Emirates. Emaar’s price estimate was slashed 26 percent to 8.5 dirhams, while Damac’s is 8 percent lower at 3.4 dirhams, HSBC said in a note on Thursday. The bank also lowered its target for Aldar Properties to 3.5 [...]

Top end of the UAE real estate market under pressure as buyers look to the affordable sector

UAE. Asteco, the Middle East’s largest full service real estate company has released its mid-year UAE market report ahead of Cityscape Global, highlighting stability in Dubai with a continued focus towards the affordable segment, in contrast to the high end market which experienced declines of up to 10%.  Affordable apartment units at IMPZ, Discovery Gardens and Dubai Silicon Oasis showed 3%, 6% and 2% sales growth over [...]

Abu Dhabi joins fray to attract liquidity

The two main stock exchanges in the United Arab Emirates are trying to attract market makers but some industry professionals say Abu Dhabi is offering more generous financial terms and more liberal rules than Dubai, suggesting it may have more success. Market makers stand ready to buy and sell stocks at all times, improving liquidity on an exchange - something which may be increasingly important as Abu [...]

S&P cuts Oman rating; markets tumble

Oman's stock market sank on Sunday after Standard & Poor's cut its outlook for the country's sovereign rating and local cement firms said natural gas prices would double - examples of the pain which the weaker Gulf oil exporters may face because of the slide in oil prices. Brent crude slipped 0.8 percent to $69.07 a barrel on Friday after Saudi Arabia slashed its oil prices for [...]

Markets in UAE, Qatar edge up

Markets in UAE, Qatar edge up DUBAI, 1 days ago Bourses in the UAE and Qatar rose in early trade on Sunday on the back of a supportive global background and positive domestic news flow.US stocks were up on Friday after strong results from Microsoft and Procter & Gamble. Brent oil prices slipped but were little changed on the week.Dubai's index rose 1.8 per cent to 4,653 [...]

Aldar secures long term bulk lease deals

|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 [...]

Aldar misses analyst estimates

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 [...]

Dubai: Bumps, shocks and opportunities

Call it a perfect market storm of wealth creation. Since the start of 2013, the Dubai stock market has registered a near 200% gain to become the best performing financial market in the world. The Gulf emirate's securing of the World Expo in 2020 is likely one factor behind this success as is the wider UAE's reputation as a safe-haven in a region riddled with uncertainty. Oil [...]