|By Arabian Post Staff| Subdued economic growth continued to translate into job cuts, reduction of staff allowances and few employment opportunities, which resulted in increased vacancy rates in the Abu Dhabi property market, according to the latest report of Asteco. Average apartment rental rates dropped by 3% over the quarter and by 10% during the past 12 months, with the highest rate of decline recorded for mid-end […]
|By Arabian Post Staff|New issues for the remainder of 2017 are estimated to be in excess of USD 20 billion, as a result of favourable market conditions, according to Fisch Asset Management. An encouraging landscape for new bond issuances in the GCC will likely see a USD sovereign deal between Saudi and Bahrain, while Oman is anticipated to confirm new issues, depending on the size of deficits. […]
Aldar Properties has appointed Trojan General Contracting as the main contractor for the first three precincts of Yas Acres, its flagship development on Yas Island. Trojan General Contracting will mobilise on site immediately as it works on all infrastructure, 652 villas and townhouses, the golf course, golf club house, mosque, retail and community clubs, Aldar said in a statement. This follows the recent completion of the early […]
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 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 […]
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, 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 2017 Dubai, UAE – Emaar Hospitality Group, the hospitality and leisure business of Emaar Properties, today unveiled six new hotel projects as part of […]
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 […]
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 […]
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, […]
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 […]
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 […]
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 […]
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 […]
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 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 […]
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. newslide Abu Dhabi Art exhibition Visit 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 […]
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 […]
|By Matein Khalid| Six data points last week reinforce my conviction that the GCC’s property/credit market stress will only accelerate in 2016. One, Standard and Poors downgraded Saudi Arabia’s sovereign credit rating to A- while Bahrain and Oman are now both below investment grade. The new sovereign credit downgrade cycle in the GCC comes at a time when sukuk/debt new issuance volumes have plummeted by 50%, the […]
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 […]
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 […]
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 […]
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 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 […]
