Dubai-based property developer Damac reported an 11 per cent rise in fourth-quarter profit on Monday as it handed over nearly 1,000 units.
The developer, which originally listed global depository receipts in London before joining
Almost one third of all high-rise (above 250 m) residential towers in Dubai, UAE, have been, or are being, developed by luxury real estate developer Damac Properties, said its top official.
The company is responsible for 27 per ce
The Nigerian affiliate of Etisalat, the Gulf's biggest telecommunications operator, said it would sell 2,136 of its towers to Nigeria's IHS and lease them back as part of plans to expand its coverage in the country.
Dubai-based builder Arabtec said it would build 37 towers worth Dh22.44 billion ($6.1 billion) for Abu Dhabi state fund Aabar in Abu Dhabi and Dubai.
Arabtec is to construct thirty seven mixed-use, residential, and hotel towers in Abu D
Arabtec Construction, a subsidiary of Arabtec Holding, has been awarded a Dh2.59 billion ($705 million) contract for the construction of a mixed-use development in Al Reem Island, Abu Dhabi.
Dubai-based Arabtec Holding is a leadin
AT&T Inc is exploring options such as a sale of its wireless broadcast towers but noted that its ability to reach a deal would depend on the terms it is able to reach with the buyer for its ongoing use of the towers.
Abu Dhabi will see existing residential supply augmented by the handover of 3,500 units and a rush of standalone tower projects during the second half of the year, offering mid-level investors a wide choice of properties, a report said.
A total of 100 towers worth SR18 billion ($4.8 billion) are currently under construction near the Grand Mosque in Makkah which once completed will add more than 24,480 hotel rooms to the hospitality industry, said an expert.
Qatar Telecom reported a 74 per cent rise in quarterly profit after the former monopoly completed a sale and leaseback of towers in Indonesia and domestic revenue increased.
Qtel said on Sunday the going was tougher in Kuwait and
King Abdullah Economic City (KAEC) has announced the completion of its key developments - Beach 1 and Beach 2 Towers - at the Bay La Sun Village, which extends over an area of 2.3 sq km within the economic city.
The Beach Towers c