PROJECTS: Shapoorji Pallonji gets investment to complete Imperial Avenue project in Dubai

Shapoorji Pallonji International Real Estate Development (SPIPD), the development arm of Indian business group Shapoorji Pallonji, announced on Monday that it has received an investment from London-based alternative asset management firm Hayfin Capital Management to finance the completion of its Imperial Avenue residential project in Downtown Dubai. SPIPD said in a statement that 55 percent […]

HKS Architects named design consultant for Wynn’s RAK resort

Marjan, the master-developer of freehold property in Ras Al Khaimah, RAK Hospitality Holding and US-listed developer and luxury resort operator Wynn Resorts have signed up HKS Architects as the design consultant for its integrated beachfront resort in the northern emirate. Located on the man-made Al Marjan Island, the multibillion-dollar development will be the first in […]

Dubai government establishes debt management office, appoints CEO- statement

The Dubai Government said on Monday that it has established a debt management office (DMO) and appointed Rashid Ali bin Obood Al-Falasi as its chief executive. The DMO will manage the sovereign debt portfolio and will be responsible for meeting the government’s financing requirements, the government said in its statement.    

Saadiyat Island will contribute $1.14bln to tourism economy by 2025: DCT Abu Dhabi

Saadiyat Island will drive Abu Dhabi’s tourism sector, contributing AED 4.2 billion ($1.14 billion) and attracting 19 million visitors by 2025, according to the emirate’s Department of Culture and Tourism (DCT). Abu Dhabi DCT has appointed Miral, Abu Dhabi’s leading creator of destinations and experiences, to oversee the Destination Management strategies of Saadiyat Island. Miral […]

Mohamed bin Zayed, Greek Prime Minister discuss strategic partnership, regional and global developments

His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, today discussed with Kyriakos Mitsotakis, Prime Minister of Greece, the prospects of enhancing cooperation and joint work in various fields as part of the strategic partnership between their countries. During a meeting at […]

Sharjah Ruler issues Emiri Decree on Sharjah Chamber of Commerce and Industry

H.H. Dr. Sheikh Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, has issued Emiri Decree No.36 for 2022 regarding formation of the Board of Directors of Sharjah Chamber of Commerce and Industry (SCCI). The decree stipulated that the board of directors of the Sharjah Chamber of Commerce and Industry would be […]

Mashreq commits up to $10mln investment in fintech ‘Cashew’

Mashreq Bank, one of the leading financial institutions in the Middle East, has committed up to $10 million in Cashew, the innovative fintech leader providing buy now pay later (BNPL) services to consumers in the UAE and KSA. As part of the strategic investment, Mashreq will integrate Cashew Payment as an option on the acquiring […]

Sofitel Abu Dhabi Corniche offers fun-filled Eid breaks

Sofitel Abu Dhabi Corniche has unveiled fun-filled family Eid getaway, offering an opportunity to gather loved ones and experience a vacation of a lifetime with a touch of French elegance at the 5-star hotel. Perfect for a family-friendly getaway, indulge in the ‘Yas Experience’ starting at AED700 ($190.5). A dreamy family escape where you can […]

Brokerage firm to sell Dubai’s first ‘digital mansions’

A Dubai-based brokerage firm is making its foray into the non-fungible token (NFT) space with a new project that is expected to entice investors to put their money in luxury properties created in the metaverse. Union Square House (USH) said it will launch the first “virtual mansions” in the Middle East and North Africa (MENA) […]

Dubai’s Kerzner takes over management of Bab Al Shams desert resort

Kerzner International has announced that it has assumed management of Bab Al Shams, one of the emirate’s best-known desert resorts, and that the resort will be refurbished and reopened under its new Rare Finds brand. Dubai-headquartered Kerzner, which operates The Atlantis Resorts and Residences, as well the One&Only Resorts, announced today that it had assumed […]