Ellington Properties, DMCC to launch $327mln residential project in Dubai
Dubai-based boutique developerEllington Properties and Dubai Multi Commodities Centre (DMCC) have joined hands to develop 1.2 billion UAE dirhams ($326.70 million) Upper House, a new residential development in Jumeirah Lakes Towers (JLT). Ellington’s first residential project in JLT, which will house 377 units, is slated for completion by early 2026, the developer said in a […]
UAE’s ADNOC to pilot carbon mineralising project in Fujairah
Abu Dhabi National Oil Company (ADNOC) has partnered with Fujairah Natural Resources Corporation (FNRC), Abu Dhabi Future Energy Company (Masdar) and Omani environmental organization 44.01 to pilot technology that permanently mineralises carbon dioxide (CO2) within rock formations found in Fujairah. The project, set to begin this month, will use 44.01’s Earthshot prize-winning Carbon Capture […]
Dubai rents to rise further in 2023 due to strong demand, limited supply
Property investors in Dubai can expect higher rental yields this year due to supply constraints and strong demand, according to a new report from Better homes. The real estate market enjoyed a record year in 2022, with sales transactions exceeding pre-pandemic levels and rents jumping by as much as 60%. Total apartment and […]
Dubai Financial Services Authority unveils business plan for 2023-24
Dubai Financial Services Authority (DFSA) has unveiled its Business Plan for 2023-24, encapsulated within four strategic themes developed to foster an enabling environment for firms as Dubai and the UAE continue to grow. The new two-year plan outlines an ambitious roadmap to meet the DFSA’s statutory objectives for the Dubai International Financial Centre (DIFC) including […]
Saudi Alsaif Gallery inaugurates first branch in Abu Dhabi
Al Saif Stores for Development and Investment Company (Alsaif Gallery) has opened its first branch in Abu Dhabi, marking the first expansion outside Saudi Arabia. The scheme is established on an area of 2,526 square metres, according to a bourse disclosure. Alsaif Gallery indicated that the project will reflect on its income statements during […]