Union Properties has officially broken ground on its flagship AED2 billion ($544 million) project - Mirdad - being set up in Dubai Motor City. Spanning 356,931 sq ft, it will feature a total of 1,087 residential units along with premium amenities.
Dubai-based Mashriq Elite Real Estate Developments has broken ground on its fifth residential project - Floarea Skies - in Jumeirah Village Circle (JVC). The 23-floor development will feature 192 residences with a mix of studios, one and two-bedroom units.
Abu Dhabi is entering a major growth phase with the development profile of a far more established branded residences market, with 92% of projects in its pipeline now standalone, said a top advisory firm. Abu Dhabi now has 31 branded home projects, of which five stand fully completed.
UAE's etisalat has launched a strategic project to develop and expand digital infrastructure capacity within the UAE and abroad to over 500 terabits per second (Tbps) by 2030.
Aldar, a leading developer in the region, has reported a nine-month net profit before tax of AED6.8 billion ($1.85 billion), up 43% year-on-year (YoY), while net profit after tax rose 30% YoY to AED6 billion ($1.633 billion).
Qatar's Public Works Authority (Ashghal) has announced that work has begun on the Hamad General Hospital, being developed at a total value of QR1.2 billion ($325 million), in co-operation with the Ministry of Public Health. The project is set for completion and handover in the third quarter of 2029.
Steady progress is being made on the Muharraq Development Project with the Phase I work, which includes the construction and restoration of 300 housing units across six neighbourhoods as well as road and infrastructure development works, entering fast track, said a report.
Leading Indian real estate developer Casagrand has appointed Jaseera Building Contracting for its inaugural development in the UAE - Casagrand Hermina - located at Dubai Islands. With foundation works now complete, the project is on track for handover in Q2 2028.
Azizi Developments is gearing up for the biggest sales event linked to its AED30 billion ($8.2 billion) master-planned community in Sharjah - Azizi Florence - featuring more than 10,000 residences, including over 7,200 villas and townhouses and more than 3,000 apartments.
BENEFIT, Bahrain’s leading provider of fintech services, has announced that National Bank of Bahrain (NBB) has become the anchor banking partner in its Trade Finance Registry project. The initiative aims to de-risk trade finance in collaboration with Singapore-based MonetaGo and Bahrain FinTech Bay.
