real estate

October 15, 2018

Dubai-based Aras Group said it has helped arrange Dh3 billion ($816.5 million) worth of funds for nearly 100 projects across a diverse portfolio ranging from real estate, renewable energy, hospitality, start-ups, refineries and ships in the UAE.

With tighter lending regime, alternative investment and private financing are flourishing in the UAE due to higher demand for capital, said experts.

The company, which is involved in corporate finance, alternative investment, commercial lending as well as consulting business, has also created more than 100 special-purpose vehicles (SPVs) in the UAE and Europe to provide financial lifeline to hundreds of companies and projects and helped them come to fruition....

Continue Reading >

October 15, 2018

Global Infrastructure Partners is nearing an agreement to sell its stake in London’s Gatwick Airport to a consortium that includes some of the fund manager’s own investors, people familiar with the matter said.

The investor group also consists of GIP’s co-investors in the airport, the people said, asking not to be identified because the talks are private.

GIP, which owns 42 percent of Gatwick, may reach a deal with the bidders as soon as this month, they said. It wasn’t immediately clear which of Gatwick’s shareholders had agreed to buy"...

Continue Reading >

October 14, 2018

Dubai-based Binghatti Developers has signed its first sales agreement with Izdihar Real Estate Fund, managed by Bank Muscat, worth AED200 million ($54 million).

The agreement comprises the acquisition of Binghatti Vista and Binghatti Sapphires, two residential properties in Dubai Silicon Oasis, the developer said in a statement.

Binghatti Vista was completed last month and comprises 118 residential units including 72 studios, 18 one-bedroom, and 27 two-bedroom apartments, in addition to one three-bedroom apartment. The property also offers a swimming pool, health club,"...

Continue Reading >

October 14, 2018

Dubai's real estate market recorded 39,802 real estate transactions worth Dh162 billion from the beginning of 2018 till the end of September, according to a report released by the Dubai Land Department (DLD). This compares to Dh204 billion worth of real estate transactions achieved in the first nine months of 2017, done through 52,170 transactions.

Real estate transactions in Dubai totalled Dh111 billion in the first six months of 2018 and Dh285 billion for the whole of 2017.

Sultan Butti bin Mejren, director-general of DLD, said: 'These positive repercussions will continue to resonate in the short and long term.'

According to the report, the first nine months of 2018"...

Continue Reading >

October 13, 2018

Sika, a global leader in chemicals and building materials, has officially inaugurated its state-of-the-art production facility along with the offices in Dubai as part of its regional expansion strategy.

With 240,000 tonne annual production capacity, the new facility will constitute the basis for the production of high-performance concrete admixtures and will play a strategic role as a key sales and distribution center for the region, said a statement from the Swiss company.

The factory, located at Dubai Industrial Park, one of the largest industrial hubs in the emirate and a member of Tecom Group, has been built at a total investment of around Dh40 million ($10.8 million).

It is"...

Continue Reading >

October 13, 2018

Dubai-based DP World has announced that construction work has started on the development of the Berbera port in the Republic of Somaliland.

President of Somaliland, Muse Bihi Abdi, and DP World Group chairman and CEO Sultan Ahmed bin Sulayem launched the first phase of work.

The first phase will consist of building a 400-metre quay and 250,000 square metre yard extension as well as the development of a free zone to create a new regional trading hub.

DP World Berbera, the joint venture company,"...

Continue Reading >

October 11, 2018

Real estate developers in the UAE have said they are looking forward to a boost in sales following the introduction of a special long-term residency visa for expatriates after retirement, with some even touting their projects as the ‘perfect’ place to retire.

The UAE Cabinet announced last month that the country will allow non-Emiratis aged 55 and over to secure a five-year residency visa after they retire, a major policy shift devised to give expats a long-sought after opportunity to stay on in the emirates, and in turn encourage economic investment and long-term growth.

To"...

Continue Reading >

October 11, 2018

Hundreds of brokers and investors from around the world have visited The Heart of Europe project, the six-island luxury development, located off the coast of Dubai as its developer looks to boost sales.

Kleindienst Group said in a statement that more than 600 brokers descended on the development in September.

'This was a great opportunity for Kleindienst Group to showcase the investment options, including elaborate freehold second homes and luxurious hotel apartments, available with a guaranteed ROI structure of up to 8 percent,' the company said.
...

Continue Reading >

October 10, 2018

Emirates Global Aluminium, the largest industrial company in the UAE outside oil and gas, has announced that first exports from its bauxite mine in the Republic of Guinea, West Africa, are expected during the second half of 2019.

The announcement comes as the biggest single piece of equipment for the project arrived in the country.

EGA’s subsidiary Guinea Alumina Corporation is developing a bauxite mine and associated export facilities in Boké province in the largest greenfield investment in Guinea in the last four decades. Bauxite is the ore from which"...

Continue Reading >

October 10, 2018

(WAM) -- Master developer Nakheel today awarded a contract worth more than EUR5.6 million (AED23.7 million) for piling work at its 260-metre PALM360 luxury hotel and residential project on Dubai’s world-famous Palm Jumeirah.

The company has named the Dubai branch of BAUER Spezialtiefbau GmbH, headquartered in Germany, for the work, which will take four months to complete.

The milestone was marked on Tuesday at Expo Real in Munich, where Nakheel is currently showcasing EUR14 billion (AED58 billion) worth of projects, including PALM360.

The"...

Continue Reading >