real estate

June 19, 2019

Lootah Real Estate Development, a leading UAE-based real estate group, has announced the launch of Senaeyat, a company that provides lease-to-own industrial warehouses for businesses of different sizes.

Located in a major industrial growth hub in Dubai, Dubai Industrial Park, Senaeyat is the first to offer a lease-to-own model for clients, in which they can have full ownership of the pre-built industrial warehouses within 10 years.

Senaeyat has acquired a total of 3 million sq ft of land for the whole project, which will be offered in two phases. The first one includes one million sq ft, and the second, two million sq ft.

Phase One of the project has four different built-up areas"...

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June 19, 2019

Cost of operations will substantially go down with the introduction of lease-to-own warehouses for industrial projects in Dubai as it is first of its kind in the Gulf region.

Being developed by Lootah Real Estate Development in Dubai Industrial Park, Senaeyat project will offer industrial warehouses on 99-year lease-to-own basis with starting price of Dh10 million and above.

Saleh Abdulla Lootah, executive director, Lootah Real Estate Development, said the company will develop 50 warehouses, including 20 in the first phase, and invest Dh300 million.

'We"...

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June 18, 2019

The apartment rental platform dedicated to business travelers, MagicStay.com, announces its full integration into the main business travel booking tools and a €3 million A-series to pursue its development, bringing the amounts raised to more than €8 million since its launch in 2013.

This fundraising will allow us to recruit talent to accelerate our growth. We want to sign a quarter of the major French"...

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June 17, 2019

Better Homes’ chairperson and founder Linda Mahoney led the winners at the prestigious Arabian Business Real Estate Awards held in Dubai on Sunday night, taking home the Legend Award 2019.

The gala event, which took place at the Le Royal Meridien Beach and Resort & Spa, honoured Mahoney’s more than three decades of dedication and commitment to the emirate’s real estate sector.

Mahoney grew up in Montreal, Canada, and originally trained as a nurse. In 1981, she moved to the United Arab Emirates to set up a surgical clinic. Seeing the need for a"...

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June 17, 2019

Pantheon Development was honoured as the “Best Affordable Luxury Property” during the prestigious Arabian Business Real Estate Awards 2019 at Le Royal Meridien Beach Resort & Spa on Sunday evening.

Pantheon Development, a subsidiary of Pantheon Group, is an emerging brand in the affordable luxury segment within Dubai’s real estate market. The developer has completed and handed over its first affordable luxury project Pantheon Boulevard, valuing AED150 million, in Jumeirah Village Circle. The company has also started construction on its second project Pantheon Elysee, which is valued at AED180 million.

Pantheon"...

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June 16, 2019

Average property prices in Dubai have declined by 14.5 percent in the past year to May, according to new research.

Real estate data platform Property Monitor released its Dubai House Price Index for May which also showed that values had fallen by 1.5 percent month-on-month.

The average house price in Dubai in May was AED2.5 million, with apartment prices remaining stable month-on-month at AED1.7 million, while the average villa price decreased to AED4.4 million.

In May, the annual house price"...

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June 15, 2019

Many of us might hope to live in a community that boasts a gym, cinema, pool and spa within walking distance. However, the homeowners of some of Dubai's most luxurious properties enjoy all these amenities and more, all within the walls of their homes.

Experts have noted that the only thing testing the limits of what can be fit into a home are the limits of the owner and designer's imagination.

Khaleej Times spoke to Colin Doyle, partner of LW Design Group, the architect behind Villa Aurum, which recently made waves in the property sector when it was listed"...

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June 13, 2019

Aldar Properties today launched Alreeman II, a AED1.7 billion master-planned residential community in the Alshamkha area of Abu Dhabi, available exclusively for purchase by UAE nationals.

Alreeman II follows the success of Alreeman, launched in January 2019 which generated AED1.6 billion in sales.

Spread across an area of 2.4 million square metres, the development features 1,690 villa plots, which range between 500 to 1,000 square metres in size. The new residential community will include a wide range of amenities including a school, retail offerings, parks, mosques, and"...

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June 12, 2019

Dubai’s ruler Sheikh Mohammed bin Rashid Al-Maktoum issued a new insolvency law on Tuesday for companies operating in the Dubai International Financial Center (DIFC), the largest financial hub in the Middle East, Africa and South Asia.
The new law, due to come into effect in August, has been issued following the collapse of Dubai-based private equity firm Abraaj, which had a DIFC-regulated entity Abraaj Capital.
The firm that had been the Middle East and North Africa’s biggest buyout fund unraveled after a row with some investors over the use of money in a $1 billion health care fund.
The new law introduces a “new debtor in possession bankruptcy regime” for debtors that have filed"...

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June 12, 2019

A new road construction project worth Dh258.8 million has been completed in Al Zahiyah area of Abu Dhabi and will ease traffic in the city.

The infrastructural project that covers an approximate area of 277,500sqm, included the repair and extension of service road facilities, improvement of walkways and pedestrian crossing areas and building of bridges.

Storm water, potable water and sewage drainage work were included in the project, in addition to telecommunication lines and networks, street lighting, traffic signals and an electricity network.

The"...

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