Burj Khalifa sales grow 16% as Dubai’s tallest tower turns 13
Dubai’s Burj Khalifa moved into adolescence in 2022 with a different type of growth spurt for the world’s tallest building. The architectural icon celebrated turning 13 by announcing a sweet 16% increase in residential sales. Property giant Knight Frank said 94 apartments were sold in the tower in 2022, valued at AED 477 million ($130 […]
AD Ports forms JV for services in Caspian, Black Sea
Abu Dhabi-based AD Ports Group, a leading facilitator of global trade, has signed an agreement with Kazmortransflot (KMTF), to launch a joint venture (JV) to provide offshore and shipping services for energy companies in the Caspian and Black Seas. The JV is 51 percent owned by AD Ports Group and 49 per cent owned by […]
Sheikh Mohammed announces 5 top priorities for UAE in new year 2023
The UAE has announced five priorities for the government in 2023. This came as His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, chaired the first Cabinet meeting of the new year. Taking to Twitter, Sheikh Mohammed outlined the five priorities: National identity and its […]
KPMG delivers $35bln global revenues, 14% growth in FY22
KPMG International has announced strong annual aggregated revenues for its firms globally of $35 billion for the fiscal year ending September 30, 2022 (FY22), an increase of 14%. The aggregate revenue of KPMG member firms in the Middle East, South Asia, and Caspian (Mesac) grew by 18.3% in local currency terms for FY22, more than […]
Azizi set to deliver 11,000 new units in Dubai this year
UAE-based Azizi Developments said it ended 2022 on a high note, having sold a total of more than 6,000 units, worth AED5.6 billion ($1.52 billion) and is now set for handover of 11,000 units across 45 projects in Dubai later this year. These include projects spread across the first, second and third phases of Riviera, […]
Tawam Hospital introduces thyroid radiofrequency, microwave ablation
Tawam Hospital, part of the Abu Dhabi Health Services Company (SEHA), shares the story of the first patient to have been treated at Tawam Hospital using a novel procedure called Thyroid Radiofrequency and Microwave Ablation. The procedure was conducted on a 75-year-old male patient, with a history of a large compressive benign thyroid nodule, under […]
Foreign investor demand to drive Dubai property prices, rents higher in 2023
Continued demand and interest from high-net-worth individuals (HNWIs) and foreign investors will keep property rents in Dubai high in 2023, according to a new report. Property prices in the emirate are expected to increase by as much as 20% on average, while the luxury segment will continue to dominate, with 13.5% year-on-year growth in 2023, […]
Star Paper Mill to set up $54mln recycled paper mill in Abu Dhabi
A new recycled paper mill will be established in Khalifa Economic Zones Abu Dhabi (KEZAD) in a move to support the UAE circular economy. The mill will manufacture eco-friendly biodegradable recycled kraft papers in Abu Dhabi after an agreement between Star Paper Mill and RC Paper Machines, which will expand its existing capacity with an […]
Dubai property deals hit $2.5bln in one week
Property transactions in Dubai reached more than AED 9.2 billion ($2.5 billion) in one week, the Dubai Land Department (DLD) said. The week ending December 16, 2022 recorded at least 2,882 deals that include plots and residential units across the emirate. A total of 199 plots were sold for AED1.33 billion, with Palm Jumeirah topping […]
Dubai records over $326.71mln in realty transactions Tuesday
Dubai real estate market recorded 385 sales transactions worth AED936.65 million, in addition to 98 mortgage deals of AED186.25 million, and 41 gift deals amounting to AED131.82 million on Tuesday, data released by the Dubai’s Land Department (DLD) showed. The sales included 358 villas and apartments worth AED691.86 million, and 27 land plots worth AED244.79 […]