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Nakheel Delays Listing Of Sukuk On Nasdaq DubaiTuesday, August 30, 2011 Dubai: Property developer Nakheel has yet to list the first tranche of its Dh4.8 billion Islamic bond, or sukuk, on the Nasdaq Dubai after issuing it to trade creditors late last week. "The sukuk will be listed once it is practical," a Nakheel spokesperson said Monday, without providing any further information or a date on when it would be listed.
Nakheel said on Thursday that it had started is ... more |
Dubai Rises On Investors' RadarSunday, August 28, 2011![Dubai Rises On Investors\](http://www.bayut.com/property/common/resize.php?img=100/965.jpg&d=45 "Dubai Rises On Investors\") The city's busy airport which handles nearly 160,000 flights a year coupled with its ready infrastructure and cosmopolitan milieu are all factors which carry considerable weight in terms of Dubai's investment appeal. The glitzy skyscrapers and luxury villas built on manmade islands have only raised the profile of a city that has long been known as a trading hub in the region. Properties in Dubai s ... more |
New Law Cracks Down On AccommodationFriday, August 26, 2011 As a result of high rents, many residents in Abu Dhabi choose to share their accommodation. A new law issued earlier this year may make sharing more difficult in the future. Not all residential units are suitable for multiple occupation and often cause problems, especially with parking and noise. Depending on the type and design of a unit, there are also sometimes more serious health and safety is ... more |
Developers Keep Bonds On Hold In Deflated MarketFriday, August 26, 2011 Property markets in the UAE have been hurt more than other parts of the Middle East by the global credit crisis. Since September 2008, home values in Dubai slumped more than 60 per cent and prices in Abu Dhabi dropped by half as banks curbed mortgage lending and speculators fled. "The market is oversupplied and property transactions are still down significantly from their peak levels," Chehayeb sa ... more |
Nakheel Wraps Up Debt RestructureThursday, August 25, 2011 Dubai property developer Nakheel on Wednesday announced a Dh4.8 billion asset-backed sukuk to its trade creditors to be listed on Nasdaq Dubai on Thursday. This completes the last leg of a complex debt restructuring deal with its creditors. Nakheel Chairman Ali Rashid Lootah told a media gathering that the first tranche of the sukuk will be for approximately Dh3.8 billion with a profit rate of 10 ... more |
Silicon Oasis Achieves Dh323.3m H1 RevenuesThursday, August 25, 2011 Dubai Silicon Oasis (DSO), the integrated free zone technology park, on Wednesday announced it has achieved positive results across all areas of operations during the first half of 2011, registering an operating profit of Dh121.9 million, up six per cent compared to the first half of 2010. DSO also recorded Dh323.3 million in revenues for first half of 2011, a four per cent increase compared to th ... more |
Abu Dhabi Finance to offer mortgages for TDIC villasMonday, August 22, 2011 Abu Dhabi: Abu Dhabi Finance, the Emirate's home finance provider, announced Sunday that it will offer mortgages for the residential villas at the TDIC's St. Regis Saadiyat Island Resort development with interest rates starting from 5.75 per cent. The Residences at the St. Regis Saadiyat Island Resort is a collection of 32 exclusive villas due for delivery in the fourth quarter of 2011. The four a ... more |
Dubai rental rates find echo in Sharjah and AjmanTuesday, August 16, 2011 |
Emaar revenues increase 20%Monday, August 15, 2011 Dubai: Emaar Properties yesterday revealed that it saw a 20 per cent increase in hospitality revenues in the second quarter of 2011. Revenues from its hospitality segment grew to Dh283.76 million in the second quarter from Dh236.1 million in the same period in 2010, Emaar said in a financial statement posted on the Dubai bourse's website.
"Emaar's main cash cows are their hospitality and retail ... more |
Union Properties Suffers Dh439m Loss In First HalfFriday, August 12, 2011 Debt payments and non-cash provisions against valuation of properties have wiped out Union Properties PJSC's profits, with the developer reporting a net loss of Dh439 million in the first six months of the year. The results show an increase in loss from Dh299 million in the same period last year. The company attributes the loss to non-cash provisions, but Matthew Green, head of research and consul ... more |
Deyaar Back In Black As Profits Reach Dh44.4mThursday, August 11, 2011 Deyaar, Dubai's second biggest developer, announced a net profit of Dh44.4 million for the first six months ending June 30. The results come as a positive boost after the loss of Dh243 million during the same period last year, which the company put it to the write down on the value of select assets and investments. Gross revenues for the period grew 48 per cent to Dh480 million compared with Dh325 ... more |
Temporary Accommodation At Worksites Banned In Abu DhabiWednesday, August 10, 2011 A senior official at the Municipality of Abu Dhabi City has announced that issuing permits for temporary workers' accommodations at construction sites has been banned except for big development and government projects, Gulf News has reported. Abdul Aziz Hussni Zurub, HSE division manager at the municipality has added that even the temporary workers' accommodations at big development and government ... more |
Waterfront Project To Lift RentsMonday, August 08, 2011 Residents of Al Majaz in Sharjah may see their rents rise by up to 15 per cent as the waterfront redevelopment gives the neighborhood an uplift, a senior government official told Gulf News. "I expect rents to rise by 15 per cent with the view at Al Majaz and the high-end cafes and restaurants at your doorstep," said Marwan Bin Jasem Al Sarkal, chief executive of the Sharjah Investment and Developm ... more |
Dh68.66m First-Quarter Profit RegisteredSunday, August 07, 2011 Developer RAK Properties yesterday posted a net profit of Dh68.66 million for the first half of 2011, as it prepares to hand over dozens of new apartments in Ras Al Khaimah and Abu Dhabi. But in a statement to the Abu Dhabi bourse on Friday, the company also raised concerns about the availability of project financing in the UAE. "Non-availability of funds for new projects development from financia ... more |
Dh68.66m first-quarter profit registeredSunday, August 07, 2011 Dubai: Developer RAK Properties yesterday posted a net profit of Dh68.66 million for the first half of 2011, as it prepares to hand over dozens of new apartments in Ras Al Khaimah and Abu Dhabi. But in a statement to the Abu Dhabi bourse on Friday, the company also raised concerns about the availability of project financing in the UAE. "Non-availability of funds for new projects development from f ... more |
Dubai office space diced by strata titlesSaturday, August 06, 2011 Dubai: Standard Chartered searched for more than two years for new headquarters in Dubai, where more than 40 per cent of the office properties sit empty. In the end, the UK's third-largest bank decided to build its own tower. Companies like Standard Chartered, which will occupy eight of the new structure's 13 floors, often have a hard time finding large blocks of office space because many building ... more |
Aldar Posts Second Quarter Of GrowthFriday, August 05, 2011 Aldar Properties, Abu Dhabi's largest real estate developer, posted its second quarter of consecutive growth Thursday on the sale of completed units across its portfolio. The company posted a net profit of Dh127.3 million in the three months to June against a loss of Dh475.3 million in the same period last year. The Abu Dhabi Government rescued Aldar in January with a multi-billion dirham support ... more |
Aldar Reports Dh316.4 Million Profits For The First Half Of 2011Thursday, August 04, 2011 Aldar Properties, Abu Dhabi’s largest real estate developer, posted its second quarter of consecutive growth yesterday on the sale of completed units across its portfolio. The company posted a net profit of Dh127.3 million in the three months to June against a loss of Dh475.3 million in the same period last year. The Abu Dhabi Government rescued Aldar in January with a multi-billion dirham support ... more |
Trade Creditors Free To Sell Claims, Says NakheelWednesday, August 03, 2011 Trade creditors of Nakheel can sell their claims to investment banks keen on buying them and the property developer will not get involved in such deals, its chairman said in published remarks yesterday. The developer, which ran a parallel restructuring process to parent firm Dubai World, has offered trade creditors repayment of 40 per cent cash and the remaining 60 per cent in the form of an Islam ... more |
Will Central Market Emerge As Capital's Nervecentre?Tuesday, August 02, 2011 Aldar begins pre-leasing office space at the Trust Tower; aims to draw businesses from villas. Commercial tenants in Abu Dhabi will soon have an additional 72,000 square meters of Grade A office space at their disposal at the Trust Tower, a 59-storey building bang in the middle of Aldar’s grandiose Central Market redevelopment scheme. Aldar claims initial leasing inquiries are gathering momentum a ... more |
Is Tecom Stealing The Greens' Thunder?Monday, August 01, 2011 The increasingly competitive rental rates in Dubai’s Tecom area are eroding the appeal of The Greens community, at least the low-rise apartment blocks that Emaar first developed. While The Views, encompassing the low-rises of Arno, Travo and Turia plus the high-rises of Golf Towers, Links, The Fairways, Mosela and Tanaro, still command a rental premium owing to their superior facilities and golf c ... more |
