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Dubai registers 150 real estate projects worth Dh82 billion in 2017

Dubai Land Department said, 150 projects worth Dh82 billion were registered in 2017 while 90 projects were completed. Sultan Butti bin Mejren, Director-General Dubai Land Department, highlighted that there has been an optimistic mood in market since the beginning of 2018, and added that there is a strong demand from developers to deposit the 20 per cent of the total value of the future projects they intend to launch in the escrow acount, as it enhances investor confidence in real estate development projects.

Sharjah Oasis sells out 50% of Phase I of Dh25 bn Sharjah Waterfront City

Sharjah Oasis Real Estate Co., a Sharjah-based developer of the Dh25 billion Sharjah Waterfront City – the largest mixed-use master-planned waterfront community in the Northern Emirates, has sold out 50 per cent of its Phase I project involving 321 villas on Sun Islands as it announced the launch of construction activities of its Phase I worth Dh3 billion, a top official said.

Shurooq and Mabanee to develop retail project in Sharjah

Development in Mughaider, Sharjah, to cover 65,000 square metres. Sharjah Investment and Development Authority (Shurooq) said, it will develop a retail destination in Sharjah with a leading Kuwaiti real estate developer Mabanee, which Shurooq said, “will change the face of retail in Sharjah”.

Nakheel awards Dh4.2 billion Deira Mall construction contract to UNEC

Master developer Nakheel has awarded a Dh4.2 billion construction contract to United Engineering Construction (UNEC) for the construction of Deira Mall, its new shopping, dining and entertainment destination with a total development value of Dh6.1 billion – and the biggest mall in the Middle East.

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Union Properties reports net loss of Dh2.3 billion in 2017
Union Properties, one of the leading real estate developers in the UAE, reported a net loss of Dh2.3 billion for the 12 months ending December 31, 2017, compared with a net profit of Dh211 million in the corresponding period of last year. Read More...
Drake & Scull returns to profitability with Dh656 million revenues in Q4 2017
Drake and Scull International (DSI), which went through a recapitalisation and ownership restructuring exercise last year, returned to profitability with 11 percent increase in revenues to Dh656 million and profits reaching Dh0.7 million in the fourth quarter of 2017. Read More...


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