real estate

November 13, 2019

DP World plans to develop an economic freezone in Namibia to grow the country's role as a southern African hub, marking the Dubai-listed port operator's latest foray into the continent.

DP World and Namibia's Nara Namib Free Economic Industrial Zone signed an initial agreement for an industry and logistics freezone in the Atlantic coast port town of Walvis Bay, the company said in a statement on Tuesday. They expect to reach a definitive agreement on the project in the second quarter of 2020.

'We believe the country has great potential to expand its"...

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November 13, 2019

ABU DHABI, 12th November, 2019 (WAM) -- Aldar Properties today reported a 14 percent year-on-year increase in gross profit to AED662 million in the third quarter of 2019. Also, the company's revenue increased 7 percent to AED1.60 billion compared to AED1.50 billion in Q3 2018.

Development Management recorded 20 percent growth in revenue to AED642 million, off-plan development sales increased 272 percent to AED1.1 billion, and solid performance from the Asset Management business, with Net Operating Income, NOI, increasing by 4 percent to AED397 million, said Aldar press release on Tuesday.

Gross"...

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November 13, 2019

Real estate broker PH Real Estate on Tuesday announced that it has brokered the largest villa sale in Dubai's Emirates Hills in the past six months.

The property, which sold for Dh41,195,000 earlier this month, represents the third highest real estate transaction in Dubai over the same time period.

The villa is over 2,000 sq. m and sits atop 3,237 sq. m of landscaped property.

'PH Real Estate is delighted to once again have solidified such a high-profile transaction,' said Myles"...

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November 12, 2019

The Sharjah Chamber of Commerce & Industry (SCCI) will bring together 18 building and construction products companies from its members at the upcoming Big 5 show, a major trade fair for the construction sector in Dubai.

SCCI, represented by the Sharjah Exports Development Center (SEDC), aims at enhancing domestic industries and opening new export-oriented channels for Emirati firms in local and international markets at the event running at Dubai International Convention and Exhibition Center (DICEC) from November 25 to 28.

The participating companies will seize this opportunity to showcase the productive capacities of national industries and highlight their up-to-date products for local,"...

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November 11, 2019

At a time when Knight Frank's lastest Global Residential Cities Index showed property prices in Dubai have fallen by more than nine percent over the past year, one Dubai-based real estate fund has reported a total annualised return of 12.5 percent for 2018 and is aiming to double in size and list on the stock market within the next few years.

Founded in 2018, the Manrre Real Estate Fund, managed by Dalma Capital, last month published results for its first year in operation. The fund, which currently manages a AED265 million ($72.3m) portfolio, reported a total annualised return of 12.5 percent, compared to an average decline of 27 percent"...

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November 11, 2019

Emaar Properties, on Sunday, reported a 20 per cent increase in net profit during the third quarter of 2019 to Dh1.331 billion, compared to a net profit of Dh1.110 billion during the same period in 2018.

The company's revenue also grew by 14 per cent to Dh6.075 billion during the third quarter of the year, compared to a revenue of Dh5.348 billion during the same period last year. Emaar recorded property sales of Dh12.624 billion in Dubai during the first nine months of 2019, a growth of 25 per cent compared to the same period in 2018. Officials noted that the growth is attributed to the continuous interest from foreign investors in both"...

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November 11, 2019

Arzan Wealth (DIFC) Limited (‘Arzan Wealth’), a Dubai-based advisory firm regulated by the Dubai Financial Services Authority, is pleased to announce that it has successfully advised its clients on the sale of a fourth property (“The Property”) from the Single Tenant Portfolio in USA.

The Single Tenant Portfolio was acquired in June 2017, consisting of 6 single-tenant net-leased buildings with a total of 760,533 sq ft, located in 6 states in the US, and sectorally diversified with healthcare, industrial, and office assets, and with tenants that enjoy strong credit ratings and reputations in their markets.

The"...

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November 10, 2019

The 3rd Housing, Building Materials, Decoration & Engineering Consultancy Exhibition (DecoBuild 2019) ended on a successful note having witnessed the largest participation ever since its inauguration.

A new record has been achieved by 'DecoBuild 2019' in terms of the number of participating companies and exhibitors which reached 58 companies, up 12% compared to the previous editions.

Also, the exhibition"...

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November 10, 2019

Dubai-based Riviera Group has announced the opening of its new La Riviera Apartments, a 22-storey residential building housing 144 stylish one- and two-bedroom apartments and two retail units within the district of Jumeirah Village Circle (JVC).

A key residential and commercial community, JVC features a mixture of Arabic and Mediterranean villas, stylish townhouses and apartments at the heart of new Dubai.

The"...

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November 10, 2019

ABU DHABI, 9th November 2019 (WAM) - The latest US$500 million sukuk issued by Aldar Investment Properties LLC - 'Aldar Investments'-, a 100% owned subsidiary of Aldar Properties PJSC -'Aldar'-, was listed on the Abu Dhabi Securities Exchange, ADX, on 07 November 2019.

The fixed-rate, US dollar-denominated sukuk, with a tenor of 10 years, carries a coupon rate of 3.875%. The issue was six times oversubscribed, with global investors accounting for 71% of the total transaction allocation.

Aldar Investments owns and manages an AED 20 billion diversified"...

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