real estate

April 21, 2018

Retail giant Majid Al Futtaim on Thursday announced the launch of its flagship community in Dubai, Tilal Al Ghaf, revealing more details about the project.

The company said the mixed-use destination represents about AED14 billion ($3.8 billion) worth of investment over the next 10 years.

Authentic to the UAE culture, the community name – Tilal Al Ghaf – is inspired by the Ghaf tree which is a symbol of local heritage and sustainability.

Extensive plantings of indigenous Ghaf trees"...

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April 19, 2018

Nasdaq Dubai welcomed the listing today of two Sukuk by UAE issuers.

Sharjah Islamic Bank, SIB, listed a US$500 million Sukuk, and DAMAC Properties listed a $400 million instrument.

SIB supplies a broad range of Sharia-compliant retail, corporate and investment services through its networks across the country, including asset management and international banking, serving individual and institutional clients.

DAMAC Properties delivers residential, commercial and leisure properties across the"...

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April 19, 2018

The UAE's top developers are exhibiting new projects collectively worth more than Dh15 billion at the 12th edition of Cityscape Abu Dhabi, which ends on April 19.

The UAE capital city has been seeing an erosion in capital values of its residential properties. In Q1 of 2018, Abu Dhabi's residential capital values were 7.5 per cent lower than last year and 1.8 per cent than the previous quarter, according to consultancy ValuStrat.

'Abu Dhabi's residential capital values have been declining for the last 2 years, however the rate of decline seems to have slowed over the last 9 months at a rate of less than 2 per cent per quarter. It will be interesting to see if this trend continues"...

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April 18, 2018

Aldar Properties plans more acquisitions as it sees opportunities in a slowing property market, its chief executive said on Tuesday.
Late last year, Aldar bought an office tower in the emirate for Dh658 million ($179 million). Values and rents have been falling in Abu Dhabi's property market due to a slowing economy in the last 2 years.

'We are seeing ample opportunities of new acquisitions in these market conditions in Abu Dhabi and elsewhere,' Talal Al Dhiyebi told Reuters at Cityscape Abu Dhabi.

Aldar will continue to invest in new projects as well as acquisitions, he said.

Last month, Emaar Properties and Aldar signed a joint venture agreement to develop local"...

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April 18, 2018

The 100+ developers participating in the 12th edition of Cityscape Abu Dhabi are offering various incentives for buyers to purchase property at the event. This is in the form of slightly discounted rates, post-handover payment plans and lower upfront payment offers. With sales being permitted on the show floor, developers hope this will help reinvigorate the Abu Dhabi property market which continues to see price and rent declines owing to increasing supply and a tough economic environment.

'As the market is currently buyer-friendly, we can expect lots of incentives and discounts to be offered. In addition to lower prices per sq ft, 2 other major forms of incentives are likely. Firstly, post handover payment"...

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April 17, 2018

Union Cement Company, currently listed on the Abu Dhabi Securities Exchange (ADX), plans to de-list its shares from the stock exchange and convert company into Private Joint Stock Company. At Company's General Assembly held recently, shareholders of UCC resolved to de-list the Company and convert it into a Private Joint Stock Company.

The Shareholders also approved the redemption of shares from the current shareholders at a price of AED2.10 per share. The price represents 14 percent premium to the last traded price of AED1.85 per share and 51 percent premium to the last 6 months' average price. Company published the notice of the same"...

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April 17, 2018

Abu Dhabi's newest master-planned community, the Dh10 billion Alghadeer, will deliver over 14,000 homes in 15 years.

Unveiled by Aldar Properties on Monday, the mega project located close to Dubai border comprises villas, townhouses, and maisonettes.

The first neighbourhood of 611 homes will be on sale at Cityscape Abu Dhabi at prices starting from Dh290,000 for maisonettes, and from Dh899,900 for townhouses, the developer said.

Construction of the first phase is scheduled to commence"...

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April 15, 2018

Deyaar Development on Saturday reported a 25 per cent surge in its first quarter net income as revenues climbed for the Dubai-listed real estate company on the back of project deliveries.

Net income for the three months to the end of March advanced to Dh40 million, from Dh32m reported for the year-earlier period, the company said in a statement. Revenues also recorded a 25 per cent year-on-year jump, to more than Dh176m, up from Dh142m reported for the first three months of 2017, it said.

The company’s “steady performance in the first quarter” is"...

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April 15, 2018

Citizens of India, Pakistan and Britain continue to lead the non-Arab investors in Dubai's real estate sector with official and industry executives forecasting bright outlook for the industry.

Figures released by Dubai Land Department (DLD) showed that 13,759 real estate transactions worth Dh58 billion were recorded in Q1 2018 as compared to 20,000 transactions to the tune of Dh77 billion were registered in the same period last year, recording a decline of nearly 25 per cent and 31 per cent in value and volume, respectively.

Sultan Butti bin Mejren, director-general"...

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April 14, 2018

L-I-V Real Estate Development has announced the successful completion of the first sales phase of its flagship development in Dubai, less than six weeks after its launch.

The developer said in a statement that it has now released the second phase of LIV Residence Dubai Marina to introduce a wider range of unit types to the market.

These include a collection of a two-bedroom units with full marina view starting at AED1.79 million.

LIV Residence Dubai Marina is a 27-storey tower located on"...

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