Saturday 16 February 2019

Meraas welcomes its first Bluewaters residents

UAE-based property developer Meraas has officially started the handover of the first completed units at its Bluewaters Residences, a mixed-use destination taking shape on a manmade island off the Jumeirah Beach Residence coastline. With rolling vistas of the shimmering waters of


Union Properties posts $15m net profit in 2018

Union Properties, a leading UAE real estate developer with a 30-year track record of delivering iconic residential developments, has reported a net profit of Dh62.33 million ($15 million) for 2018, up 19 per cent over the previous year when the company had registered a loss of Dh2.37 billion.


L&T unit wins major UAE substation contract

India's top engineering and construction firm Larsen & Toubro (L&T) said one of its key subsidiaries, Power Transmission & Distribution (PT&D), has secured a contract for the construction, supply, installation, testing and commissioning of a 132/11kV substation in the UAE.


Damac Properties 2018 revenue surges to $1.5bn

Leading UAE luxury property developer Damac Properties has reported a total revenue of Dh6.1 billion ($1.46 billion) for  the full year 2018, while its net profit stood at Dh1.2 billion. Announcing the 2018 results, the Emirati group said the booked sales for the same period


Emaar Properties posts 30pc jump in 2018 net profit

Leading UAE developer Emaar Properties has reported a net profit of Dh7.216 billion ($1.965 billion) in 2018, up 30 per cent over Dh5.561 billion ($1.514 billion) the previous year, prior to considering the effect of the IPO of Emaar Development and forex movement. Announcing the


Deyaar, Millennium open new hotel in Business Bay

Millennium Hotels and Resorts (Middle East and Africa) has joined hands with UAE-based Deyaar Development for the opening of its 40th property, the Millennium Atria Business Bay, which will serve a growing hospitality and tourism sector. Developed by Deyaar Development, the Mille


Eshraq's Reem Island project set for 2020 launch

UAE-based Eshraq Investments (formerly Eshraq Properties) said the construction was in full swing at its Marina Rise residential tower coming up at the Al Reem Island in Abu Dhabi. Strategically located in the Cove District, The Marina Rise is within walking distance of Galleria


Abu Dhabi seeks EoIs for 2000MW solar PV project

Emirates Water and Electricity Company (Ewec) - formerly Adwec (Abu Dhabi Water and Electricity Company) - has invited expressions of interest (EOI) from leading developers to finance, build and operate a 2000MW solar photovoltaic (PV) Independent Power Project in Abu Dhabi besides taking respo


Bahrain launches consultancy tenders for $2bn metro

Bahrain's Ministry of Transportation and Telecommunications has announced the launch of tenders for the appointment of a transaction advisor and consultancy services firm for Phase One of its ambitious Bahrain Metro Project. The mega project, which is estimated to cost betwee


Emaar opens world's highest lounge in Dubai

Leading UAE property developer Emaar has opened the doors to the highest point in Burj Khalifa at levels 152, 153 and 154, towering at an imposing height of 575 m, with the unveiling of The Lounge, Burj Khalifa. Billed to become the must-visit destination to relax, unwind and chi

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