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Abu Dhabi Rents, Property Prices May FallThursday, May 26, 2011 The Emirate of Abu Dhabi may see some fall in rentals and property prices, a penal discussion organized by Institute of Chartered Accountants of India (ICAI) in the capital was told. The institute panel held recently discussed the various aspects of the real estate sector in the country with particular emphasis on Abu Dhabi and Dubai. Addressing the audience, Nicholas Maclean, CB Richard Managing ... more |
Al Fajer Completes Handover Of JBC1Tuesday, May 17, 2011 Al Fajer Properties, or AFP, announced on Monday that its first commercial tower in its Jumeirah Business Centre (JBC) series has been handed over to customers. JBC 1 represents the flagship tower for the developer in the 9 tower JBC series located in the heart of the Jumeirah Lakes Towers (JLT) free-zone. The handing over of the 180 meter high JBC1 commercial tower is a major milestone for AFP an ... more |
Sama Dubai Denies Lagoons Project Is CancelledTuesday, May 17, 2011 Khalid Al Malik, Group CEO of Dubai Properties Group has said Sama Dubai's The Lagoons project has not been cancelled and therefore plot owners are not entitled to any refunds, Emirates 24-7 has reported. "There will be no refunds to plot owners... I am developing The Lagoons," he said. In April 2006, Sama Dubai launched the 70 million sq ft waterfront project on the Dubai Creek. The Lagoons is de ... more |
Emaar's Revenues From Apartment Sales TumbleMonday, May 16, 2011![Emaar\](http://www.bayut.com/property/common/resize.php?img=100/907.jpg&d=45 "Emaar\") Emaar Properties, the UAE's largest real estate developer by market value, saw an 81 per cent drop in revenue from apartment sales in the first quarter, the company said yesterday. Emaar, the builder of the Burj Khalifa, also said revenue from villa sales fell 50 per cent in a statement to the Dubai Financial Market (DFM). Emaar's income from apartment sales dropped to Dh375 million and from villa ... more |
Oversupply Continues To Erode ValuesFriday, May 13, 2011 International City and Discovery Gardens continue to bear the burden of steep drops in property values brought on by fresh supply entering the market. According to Cluttons, the value of units in the two locations fell by 8.9 per cent in the first three months of the year from the same period in 2010. And because of the continuing soft rental market, residents in Dubai have been upgrading to locat ... more |
Deyaar Posts Net Profit Of Dh26mThursday, May 12, 2011 Deyaar Development yesterday reported Dh26 million profits for the first quarter of this year, compared to a net loss of Dh100 million for the same period last year. During the period, Deyaar's gross revenues reached Dh85 million. Deyaar's shareholders' equity stood at Dh4.4 billion while total assets reached Dh8 billion. Saeed Al Qatami, Chief Executive Officer, said, "Safeguarding the interests ... more |
Land Deals Reflect Rise In ActivityTuesday, May 10, 2011 Dubai's real estate sector has witnessed a surge in activity over the last 16 months, government officials will announce at the International Property Show today. New figures collated by the Dubai Land Department show the overall number of transactions — buying and selling — has grown compared to the previous 16 months as more users enter the market. Dubai's property sector was hammered during the ... more |
Union Properties Q1 Profit Increase By 64%Tuesday, May 10, 2011 Union Properties has said its first quarter profit jumped 64% to Dhs82m ($22.32m) compared with a profit of Dhs50m in the same period last year, thanks to ongoing handover of properties at the Index Tower and Limestone House in the Dubai International Financial Centre, Reuters has reported. The company booked provisions worth Dhs65m for loss on valuation of some properties. ... more |
Emaar Sets Up Core Team To Develop Five-Year PlanSunday, May 08, 2011 Emaar Properties has established a team of senior managers and external consultants to develop and roll out a five-year corporate strategic action plan for long-term value creation, the company said in a statement yesterday. The team, under the leadership of Chairman Mohammad Al Abbar, will focus on a value-creation strategy that takes into account the current market realities, evolution of new ma ... more |
DSI Wins Dh180m Abu Dhabi DealWednesday, May 04, 2011 A subsidiary of Drake and Scull International (DSI), Dubai's second biggest contractor, has been awarded a Dh180 million contract for a major government project in Abu Dhabi, the company said in a statement on Tuesday. The contract, which is for an office building that will be used by an entity of the Abu Dhabi Government, was awarded to DSI Abu Dhabi for the complete mechanical, electrical and pl ... more |
