Al Hamra awards infra works contract for Falcon Island to ENERVO Contracting
Ras Al Khaimah-based developer Al Hamra announced on Wednesday that the infrastructure works contract for its one billion UAE dirhams ($272 million) Falcon Island luxury development was awarded to ENERVO Contracting & General Maintenance. The main construction will start upon completion of infrastructure works, which started in March, the developer said in a statement. The […]
Al Habtoor Group to reopen retail space at Beirut property
Al Habtoor Group (AHG) has announced the reopening of the retail space at AHG touristic complex in Sin El Fil, Beirut, which includes Hilton Beirut Habtoor Grand Hotel and Hilton Beirut Metropolitan Palace. UAE businessman and Founding Chairman of AHG, Khalaf Ahmad Al Habtoor said: “We have a great love for Lebanon, and I […]
Danube launches first FashionTV-branded luxury tower in Dubai
based Danube Properties on Tuesday launched Fashionz luxury tower in partnership with FashionTV. Located in Jumeirah Village Triangle (JVT), the 65-floor tower will have over 700 apartments. In February, the developer launched 2.05 billion UAE dirhams ($558.22 million) Viewz with Aston Martin furnishings as its first branded residential project in Jumeirah Lakes Towers (JLT). […]
UAE property developer DAMAC to sell 3-year Islamic bond Tuesday
Dubai-based real estate developer DAMAC plans to sell a benchmark-sized three-year Islamic bond, or sukuk, on Tuesday, a bank document showed, following a series of investor calls and meetings that kicked off last week. Benchmark-sized is understood to mean at least $500 million. The company, rated BB- by S&P, has given initial profit rate […]
Former Union Properties chairman, others to pay company $168.8mln
Union Properties PJSC has reached an AED 620 million ($168.8 million) settlement with its former chairman and other board members following a troubled period for the Dubai-listed developer. Bourse filings to Dubai Financial Market (DFM) said the general assembly agreed the proposed settlement from Khalifa Al Hammadi and others, under which they will pay the […]
Dubai records over $327mln in realty transactions Wednesday
Dubai real estate market recorded 440 sales transactions worth AED1.1 billion, in addition to 93 mortgage deals of AED153.86 million, and 12 gift deals amounting to AED25.55 million on Wednesday, data released by Dubai’s Land Department (DLD) showed. The sales included 401 villas and apartments worth AED778.34 million, and 39 land plots worth AED320.23 billion. […]
Sharjah records real estate transactions worth $463mln in March
The real estate sector in Sharjah continued to thrive during March 2023, as the volume of real estate transactions in the emirate reached AED1.7 billion. This reflects the continued growth and prosperity of the real estate sector in Sharjah, and its success in building and ensuring a motivating, attracting, and supportive environment for business […]
UAE’s Aldar to build new flats, penthouses dedicated to holistic health, wellbeing
UAE developer Aldar Properties launched a new project on Monday that will boost its real estate portfolio with 204 new apartments and penthouses, as it looks to tap into the growing demand for homes purposely built to support holistic health and wellbeing. The new “wellness” development, dubbed The Source, forms the next phase of Aldar’s […]
Dubai records over $544mln in realty transactions on Wednesday
Dubai real estate market recorded 546 sales transactions worth AED1.41 billion, in addition to 88 mortgage deals of AED479.2 million, and 36 gift deals amounting to AED201.18 million on Wednesday, data released by Dubai’s Land Department (DLD) showed. The sales included 488 villas and apartments worth AED1.18 billion, and 58 land plots worth AED226.73 […]
Binghatti completes work on key Dubai project ahead of schedule
Binghatti, a leading real estate developer in Dubai, has announced that work has been completed on its prime project, Binghatti Creek, located in Al Jaddaf area within the Dubai Healthcare City, much ahead of its deadline, which was scheduled for the end of this year. The project’s completion date is considered impressive, considering the […]