real estate

February 18, 2020

Eagle Hills Sharjah, a joint venture between Sharjah Investment and Development Authority (Shurooq) and Eagle Hills, has kicked off the second phase of Maryam Island masterplan with the launch of Maryam Gate Residences in downtown Sharjah.

Located next to Maryam Beach Residences, it complements Maryam Island’s residential master plan with six low-rise buildings providing easy access to the island’s main retail boulevard, internal garden spaces and canal views, including the city’s famous Mamzar and Al Khan beaches, said the statement from Eagle Hills.

Noor Residences, an elegantly designed seven-storyed building with a total of 87 apartments, is the first building to be launched....

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February 18, 2020

A Dubai developer has unveiled its most exclusive presidential penthouse, located at Serenia Residences on the crescent of The Palm Jumeirah, priced at AED55 million ($15 million).

The penthouse, developed by Palma Holding, has been designed to offer 360-degree views of the water that resemble life on a luxury yacht with panoramic views of the sea.

The 15,127 sq ft penthouse comprises four ensuite bedrooms, a grand reception, an opulent living space, a dining room, a chef’s kitchen and an entertainment kitchen, a guest bathroom, a private den that features a"...

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February 17, 2020

Arabtec Holding reported on Sunday a Dh774.5 million net loss in 2019, citing weaker income from its construction business amid tighter liquidity in the construction sector.

The construction giant, which swung to loss - its first annual loss since 2016 - from a profit of Dh256.3 million in 2018, blamed low liquidity in the real estate sector, settlement, and recoverability claims and estimated losses from an investment in an associate company for the loss.

The Dubai-listed company, while not disclosing the name of the associate company, said its other business units,"...

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February 17, 2020

Abu Dhabi Power Corporation (ADPower) and Japan-based Marubeni Corporation have set up a consortium for developing the Fujairah F3 independent power producer (IPP) project, the largest independent thermal power plant in the UAE.

To mark the occasion, a ceremony was held at the headquarters of Emirates Water and Electricity Company (EWEC), where the project’s Power Purchase Agreement (PPA) and Shareholders’ Agreement was signed.

The"...

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February 17, 2020

(WAM) - Emirates District Cooling, Emicool, a leading district cooling service provider in the region and a wholly-owned subsidiary of Dubai Investments, is progressing steadily with the completion of the district cooling plant at the Expo 2020 site, which will provide 60,000 tonnes of refrigeration, TR, as total productive capacity across all phases. The first phase of the plant is currently operational, providing 20,000 TR.

The Expo Village, Dubai South Mall, and the Conference and Exhibition Centre at the Expo site as well as the Roads & Transport Authority (RTA) station and the Project Star mall area will be covered by the district cooling"...

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February 16, 2020

Abu Dhabi-based retail group Lulu said its real estate arm Line Investments & Property has introduced Laka (For you in arabic) Gift Card that gives customers a wide range of shopping options from regionally and globally renowned brands and products across eight shopping malls in Abu Dhabi and Al Ain.

With a validity of six months from date of purchase, the Laka 4U gift card is available in Dh50 and Dh100 ($13.6 and $27.2) denominations at selected outlets, said the statement from Lulu.

"...

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February 15, 2020

Developer Arada has announced the official opening date of Madar, a new family-focused entertainment complex that is located in the heart of Aljada, the 24 million square foot mega-community currently under construction in Sharjah.

The first phase of Madar, which is spread over a 600,000 square foot area, will be unveiled on February 27, the developer said in a statement.

Designed by Zaha Hadid Architects, Madar contains a cluster of zones and attractions all set in a landscaped area that includes more than 5,000 trees and parking for 800 cars. It is also the first"...

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February 13, 2020

The rate of decline in property prices in Dubai slowed considerably in the second half of 2019 as buyers began to take advantage of the value to be found in the market, according to new research from Property Finder.

The UAE-based property portal said that although advertised prices continued to fall in most areas in H2, the rate of decline slowed sharply.

The report said it is likely that prices will stabilise in 2020, before recovering in 2021, as delivery rates of new supply start to fall.

It"...

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February 13, 2020

Samana Developers, a boutique developer in Dubai, is planning a resort-themed project, Samana Golf Avenue, in the Dubai Studio City.

The property, being built at an investment of Dh100 million ($27.2 million), comprises 233 luxury studios, one- and two-bedroom apartments.

Some of these residential units boast private pools, stated the developer, adding that the development, which is located near Dubai Sports City, will also boast a world-class leisure deck featuring a golf putting green.

General manager Alan James Gammon said there is a huge interest for the project in both the local and international market especially China.

'We perceive an exceptionally strong"...

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February 13, 2020

Emaar Properties, Dubai's largest listed developer, reported on Wednesday a net profit of Dh6.2 billion in 2019, up one per cent compared to 2018's net profit of Dh6.139 billion.

The developer of the iconic Burj Khalifa, the world's tallest tower, posted a net profit of Dh1.76 billion in the October-December period, compared to Dh1.79 billion in the same 2018 quarter as annual revenue for 2019 hit Dh24.6 billion.

The developer's total property sales in 2019 reached Dh19.233 billion as sales in the UAE touched Dh14.949 billion.

'Emaar's"...

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