Saturday 19 April 2014
 
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Union Properties profit soars eight-fold

Union Properties, a Dubai-based real estate developer, said on Monday that its net profit jumped more than eight-fold to 1.58 billion dirhams ($430.2 million) last year from 175.8 million dirhams in 2012. The brief statement did n

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Aldar's CEO to step down

Aldar Properties, Abu Dhabi's biggest property firm, said on Tuesday that its chief executive officer Sami Asad will step down from his role on August 15. Asad has been CEO of the property developer since 2010.

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Deyaar Q2 net profit rises 47pc

Dubai property developer Deyaar on Sunday reported a 47 percent rise in second-quarter net profit as it gained from lower costs and fair-value adjustments of prices for its investment properties. Deyaar, one of the companies worst

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Nakheel's 350 villas sold out in 5 hours

Investors snapped up 350 newly-launched villas from Nakheel in just five hours on Sunday, the Dubai developer has said.   The villas are valued in excess of Dh1.4 billion ($381 million), Nakheel said.

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Deyaar appoints new chief financial officer

Dubai's Deyaar, the emirate's second-largest developer by market value, appointed Hawary Marshad as its new chief financial officer, the company said in a statement on Sunday. Marshad will replace Yawar Pasha and will repo

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TMG first-quarter net profit falls 19.8pc

Egyptian property developer Talaat Moustafa Group (TMG) said net profit in the first quarter of 2013 fell 19.8 percent to 139.4 million Egyptian pounds ($20 million). TMG's profit for the first quarter of 2012 was 173.7 millio

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Firm to raise $48m for Bahrain hotel project

Work stalled at the Banader Rotana Hotel project in Bahrain is expected to resume shortly as the developer Banader Hotels Company secures the additional $47.7 million funding needed for completion, officials said. "We are in

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Dar Al-Arkan Q1 net profit down 18.8pc

  Saudi Arabia's top real estate developer Dar Al-Arkan said on Wednesday its first quarter net profit fell 18.8 percent from the same period last year to 238 million riyals ($63.5 million), although it still beat analyst for

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Sodic eyes stable sales, ups investments

Sodic, one of Egypt's largest real estate developers, hopes to maintain last year's sales momentum as demand for upmarket residential units remains strong despite a weak economy, its managing director said. "We are ho

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Deyaar ex-CEO gets 15 years jail in bribe case

  Former chief executive of Dubai developer Deyaar, Zack Shahin, has been sentenced to 15 years in jail after being found guilty of taking Dh20 million ($5.44 million) in bribes, reports said.   The

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