Monday 20 May 2019

Damac's Q1 revenue hits $244m, sales up 15pc

Leading UAE luxury project developer Damac Properties has announced solid growth for the first quarter of 2019,  registering a revenue of Dh896 million ($244 million) and booking sales of Dh1.2 billion ($327 million), up 15 per cent over Dh1 billion recorded in the last quarter of 2018.


Emaar unveils Dubai Creek waterfront residences

Leading UAE property developer Emaar said its 6-sq-km mega-development, Dubai Creek Harbour, has announced the launch of its new ‘Creek Edge’ residential project located on the northern tip of Creek Island. The Creek Edge comprises two towers of 40 and 20 storeys, loc


Kuwait to open up causeway islands for investment

Kuwait is opening up two 280,000-sq-m artificial islands connected to the newly-launched Sheikh Jaber Al Ahmad Al Sabah Causeway for entertainment and touristic investment, reported Kuwait News Agency (Kuna). The causeway is one of the world's longest high-speed brid


Saudi Arabia to restore Jeddah cultural landmarks

Saudi Arabia has allocated funds worth $50 million for the restoration of ramshackle buildings  located in the historical sites of old Jeddah, said a report. The fund was donated by HRH Prince Mohammed bin Salman bin Abdulaziz, Crown Prince, Deputy Prime Minister and Ministe


Dubai investors 'eyeing Expo 2020 off-plan projects'

The off-plan developments near the Expo 2020 project site in Dubai are garnering a high amount of interest from investors, according to UAE real estate portal Bayut. Dubai South, Meydan City, Mudon and Town Square are some of the areas that prospective buyers and tenants are most


Omniyat sets new record with Dubai penthouse deal

Omniyat, a Dubai-based property development group, said it has marked another milestone with the sale of its second penthouse unit in One Palm, thus setting the record once again and making it the second-most expensive penthouse sold in the history of UAE real estate. The Emirati


Holborn Assets launches new property investment firm

Holborn Assets, a global financial services group based in Dubai, has announced the launch of its new property investment business. The new venture brings a streamlined approach to real estate investment with an end-to-end service unlike others in the market. Estab


New Zealand breaks ground on Expo 2020 country pavilion

New Zealand has broken ground on its Expo 2020 country pavilion being set up under the theme Care for People and Place at the Dubai gala event. To be located in the Sustainability District, it will feature an exhibition space, restaurant, hosting facilities and a design store, sa


JGE announces Dubai twin tower completion

Jumeirah Golf Estates (JGE), a major residential golf destination offering luxury homes and leisure facilities set amid two internationally-acclaimed championship golf courses in Dubai, has announced the completion of Alandalus towers A and B.   The towers, which feature one-


Aldar's Q1 revenue up 20pc, strong sales reported

UAE-based Aldar Properties has reported a 20 per cent growth in its revenue for the first quarter, which soared to Dh1.76 billion ($479 million) from last year's figure of Dh1.47 billion ($400 million) amid strong development activity across all its projects. Announcing the r

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