Friday, March 23, 2018 8:51 AM


Azizi Developments announces Dh500 million projects at Dubai Studio City

Azizi Developments, a Dubai-based developer, has announced two new residential projects Azizi Mirage 1 & 2 with a development value of Dh500 million at Dubai Studio City, adjacent to the site of the Dubai Expo 2020.


Emaar and Aldar to jointly develop Dh30bn worth of projects

Two major UAE-based master property developers, Dubai-based Emaar Properties and Abu Dhabi-based Aldar Properties are partnering in developing Dh30 billion worth of projects, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, made the announcement through social media.


Azizi Developments awards contracts worth Dh1.5 billion to develop mega project Azizi Victoria

Azizi Developments, one of the leading private developers in the UAE, has awarded two contracts worth Dh1.5 billion for the construction of Phase 1 of Azizi Victoria, which will commence immediately.


DIGAE plans activities and knowledge seminars on the future of government

A series of interactive events and seminars will be held at the Dubai International Government Achievements Exhibition (DIGAE), organised by the Dubai Government Excellence Program (DGEP), part of the General Secretariat of the Dubai Executive Council, in conjunction with the Annual Investment Meeting (AIM), the Future Cities Show, and AIM Startup. The three-day event and exhibition will be held under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, from 9-11 April 2018 at the Dubai World Trade Centre.


KEF Holdings invests $300m in India

KEF Holdings, a UAE-based diversified conglomerate, will invest US$300 million (Dh1.1 billion) in setting up three prefabrication factories in India that will help accelerate the pace of growth of India’s real estate and construction sectors, currently undergoing tremendous transformation.


Dubai Land Dept stresses on 20% equity payment by developers before sales and marketing

Dubai Land Department (DLD) has confirmed the original 20 percent equity investment by property developers before they could kick-start sales and marketing activities of a project.


Gensler to master plan Lootah Real Estate’s new 10,000-strong community at Dubai South

Lootah Real Estate Development, one of the region’s prominent modern real estate developers, has appointed global architecture firm Gensler to manage the master plan development for its 1,150,548 square feet project in Dubai South's Residential District.


ENBD REIT announces improved occupancy at Burj Daman

ENBD REIT Limited, the Shari’a compliant real estate investment trust managed by Emirates NBD Asset Management Limited, has announced total portfolio occupancy of 88 percent. This high occupancy level has been driven by ENBD REIT’s success in leasing its flagship assets, including Burj Daman in Dubai International Financial Centre (DIFC), as well as the strategic acquisition of assets with 100 percent occupancy on long-term leases.


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.


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.