real estate

February 18, 2019

Dubai Marina was the most popular area in which to buy a home in the first half of 2018, according to a new report from Property Finder.

According to the report, the area witnessed twice as many searches as the runner-up, Downtown Dubai.

The top five most searched for areas by prospective buyers were rounded out by the Palm Jumeirah, Arabian Ranches and Jumeirah Village Circle.

For the second half of the year, the top four areas remained unchanged in the second half of the year, although"...

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February 18, 2019

The Dubai real estate market continued to attract a strong inflow of foreign funds with Indians, British, Pakistanis and Jordanians accounting for nearly one-third of total investments during the first 11 months of 2018.

Of the total Dh62 billion investments made during January 2018 to November 2018 period, Emiratis were the top investors among GCC nationals in Dubai's real estate market, investing over Dh11.5 billion.

They were followed by Indians with Dh10.8 billion, followed by the British with Dh4.3 billion, Pakistanis with Dh2.8 billion and Jordanians with"...

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February 17, 2019

2019 Serving as the new headquarters for the prominent Al Abdul Karim Holding (AKH) company in Dammam, the AKH Tower is now open for business. Designed and supervised by Dewan Architects + Engineers, the dramatic 37-storey building ranks as the tallest building in Dammam and the 30th tallest in the Kingdom of Saudi Arabia.

Setting out to impress, the striking design of the AKH Tower – with its gleaming glass, geometric patterns and soaring height – is already a talking point in Dammam, the oil capital of Saudi Arabia’s Eastern Province. A compelling sight by day or night, it also serves as memorable landmark for all to navigate"...

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February 16, 2019

The value of real estate deals in Sharjah totalled AED22.5 billion ($6.13 billion) last year, with 54,125 transactions being completed.

According to the annual realty transactions report published by the Sharjah Real Estate Registration Directorate, 2018 real estate deals covered over 52 million square feet, while the mortgages transactions amounted to AED14.9 billion.

Investors from 48 nationalities worldwide were involved in the transactions, with GCC nationals topping the list with investments worth over AED20 billion, state news agency WAM reported.

Residential"...

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February 14, 2019

ABU DHABI, 13th February, 2019 (WAM) -- The National Central Cooling Company, Tabreed, has entered into a 30 year concession for a contracted cooling capacity of 20,000 refrigeration tonnes (RTs) with Andhra Pradesh Capital Region Development Authority, APCRDA, to build, own, operate and transfer India’s first district cooling system in Amaravati – the new capital of Andhra Pradesh. This will be Tabreed’s first plant outside its GCC market.

Tabreed’s district cooling system is part of the Indian state of Andhra Pradesh’s vision for Amaravati to create jobs and homes along with a world-class infrastructure, a green"...

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February 14, 2019

Aldar Properties has announced Dh6.3 billion in revenues for the 12 month period to December 31, 2018, up two per cent over the previous year and supported by asset acquisitions and development revenue recognition.

The company also reported Dh2.6 billion in gross profit, as well as Dh1.6 billion net operating income from recurring revenue assets up three per cent. The Dh3.7 billion asset acquisition completed in June 2018 contributed Dh0.7 billion and Dh0.2 billion in revenue and gross profit respectively, and will set the stage for growth.

The board has recommended"...

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February 13, 2019

(AETOS Wire)-- W Dubai – The Palm is now welcoming its first guests. The impressive project was delivered on specification and within budget expectations. The five-star hotel consists of three buildings and spans 100,000sq.m. across Palm Jumeirah’s Western Crescent. Alongside the 350 luxury rooms and suites, the hotel – managed by Marriott International – features a clubhouse, a 475-metre beach, several pools and restaurants, landscaped gardens, back-of-house areas and state-of-the-art security. In addition, W Dubai – The Palm’s culinary attractions include two Michelin-starred chefs - Massimo Bottura presents Torno Subito, his first restaurant outside Italy, while Akira Back’s first restaurant in the Middle East brings unmistakable style and inspired Japanese flavours to this international hub. Linesight – which came on board at the concept stage of this project in 2012 – successfully costed and managed a number of design upgrades, provided the full spectrum of pre- and post-contract services, and advised on procurement strategies throughout the development. Ciaran McCormack, Regional Director for the Middle East, Linesight, said:......

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February 12, 2019

Following the response to the launch of its first two phases, Emaar has now unveiled phase three of Expo Golf Villas, a limited collection of three and four-bedroom villas located next to an 18-hole championship golf course in Emaar South, near the Expo 2020 site.

Research by KPMG and the American National Association of Realtors proves that golf courses have historically boosted the value of nearby properties by as much as 20 per cent.

Prices of Expo Golf Villas phase three start from Dh999,888 and customers have a convenient payment plan, with monthly installments to be paid over a duration of five years.

Emaar is set to hand over the first homes in Emaar South this year. The homes"...

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February 11, 2019

ENBD Reit, the Sharia-compliant real estate investment trust managed by Emirates NBD Asset Management, has earmarked $65 million for acquisitions this year as it seeks to diversify its $456m property portfolio amid soft market conditions, an executive said.

The Nasdaq Dubai-listed Reit will expand its remit to outside Dubai, targeting Abu Dhabi and the northern emirates, but not necessarily this year, Anthony Taylor, the head of real estate at Emirates NBD Asset Management. It will also target acquisitions in the industrial and healthcare space because of their structure, he added.

“The"...

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February 9, 2019

Dubai Land Department (DLD) has launched its real estate promotion plan for 2019 which will see the emirate's property investment potential showcased in 10 countries.

Majida Ali Rashid, CEO of the Real Estate Investment Promotion Investment Management Sector at DLD, outlined plans for 20 exhibitions, conferences, and events in 10 countries, including the UAE, Saudi Arabia, Egypt, France, the US, Canada, China, the UK, India and Germany.

Sultan Butti bin Mejren, director general of DLD, stressed that the selection of countries was based on specific criteria, most"...

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