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LATEST NEWS

Three-year countdown for Expo 2020 begins with BNC Network reporting Expo-related projects worth $33 billion on track

19/10/2017
The combined value of the Expo 2020-related development projects has touched $33 billion (Dh121 billion) as the UAE begins the three-year countdown for the six-month-long mega global event that will kick-off on October 20, 2020, according to BNC Network, the largest and most comprehensive project research and intelligence provider in the Middle East and North Africa (MENA) region.

Damac Properties’9 months profit decline 19 per cent to Dh2.3 billion

19/10/2017
Damac Properties, a leading Dubai-based property developer, reported net profits of Dh2.3 billion for the first nine months of 2017, 19 per cent lower than Dh2.84 billion reported in the first 9 months of 2016.

Housing rent in Dubai declines 12%

19/10/2017
Housing rents in Dubai continued declining in the third quarter due to a combination of factors including reduced demand and oversupply in the market, a report by leasing agent Asteco says.

Deyaar reports 96% increase in revenue to Dh512 million in 9 months of 2017

19/10/2017
Dubai-based Deyaar Development reported revenues of Dh512 million for the first nine months of the year as compared to Dh261 million in the same period in 2016, representing a 96 per cent year-over-year rise in revenue. The increase is attributable to robust sales and acceleration of progress in the construction of Deyaar’s flagship projects, including The Atria and Mont Rose, both of which currently exceed 80 per cent completion. Midtown is on track to be completed by Q3 2019.

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ADFD reviews progress of projects worth Dh423 million in Albania
Abu Dhabi Fund for Development (ADFD) is reviewing progress of the Dh423 million Tirana River Rehabilitation project in Albania, a statement said. A technical delegation from the Abu Dhabi Fund for Development (ADFD), the leading national entity for development aid, visited Albania to review the status of three of its financed ventures – the Tirana River Rehabilitation project, Tirana River Northern Boulevard project, as well as the Tirana-Elbasan Road project. Read More...
Geopolitics and a tighter global refining system and a drop in OPEC cohesion may push oil lower
Geopolitics and a tighter global refining system and a drop in OPEC cohesion may push oil lower, to a latest report by Bank of America Merill Lynch said. Global crude oil prices, particularly Brent, have firmed up more than expected. “We see Brent averaging $54 this quarter and $52.50/bbl in 1H18, compared our previous forecasts of $50 and $49.50/bbl, respectively. We also adjust WTI to average $49 this quarter, relative to our previous forecast of $47/bbl,” said a bank spokesperson. Read More...
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