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Sorouh Real Estate Posts 14% Rise In Net ProfitMonday, October 31, 2011 Dubai: Sorouh Real Estate, Abu Dhabi's second largest property developer, posted a 14 per cent rise in third quarter net profit on Monday, missing estimates as the company cut expenses and boosted revenue.
Net income increased to Dh67.3 million, or three fils a share, from Dh59.3 million, or two fils, a year earlier, the company said in a statement to the Abu Dhabi bourse.
The developer's ... more |
New Profitability Plan Of Aldar PropertiesMonday, October 31, 2011 Dubai: Aldar Properties says it has developed a new strategic plan, which is designed to focus on its core business and return the company to profitability.
"The main objective of this new strategic direction is to return Aldar to long term growth and ensure ongoing value creation for all our stakeholders," said Ali Eid AlMheiri, Chairman of Aldar Properties. "Aldar is already recognised as a m ... more |
Emaar Properties Records Net Operating Profit Of Dh1.249bThursday, October 27, 2011 Dubai: Emaar Properties PJSC, developer of the world's tallest tower Burj Khalifa, reported a net operating profit of Dh1.249 billion ($340 million) in the first nine months (January to September) of 2011.
Revenue for the first nine months this year reached Dh5.873 billion ($1.599 billion).
Third quarter (July to September) 2011 revenue stood at Dh1.859 billion ($506 million), compared with ... more |
New US$1 Billion Investment Fund Launched To Target Real Estate Sector In DubaiWednesday, October 26, 2011 Dubai: Investment Corporation of Dubai (ICD), the investment arm of the Government of Dubai, and Brookfield Asset Management Inc., a leading global alternative asset manager focused on property, renewable power and infrastructure assets with approximately $150 billion of assets under management, on Wednesday signed a memorandum of understanding to set up the fund, with each seeding the fund with U ... more |
A Fresh New Bayut.comWednesday, October 26, 2011 The Bayut.com headquarter is buzzing with excitement because there is so much going on. We have freshened the fall season by giving the entire look of your beloved Dubai real estate portal a facelift. Change is in the air and for Bayut.com, this has been more than just a makeover.
The new design of the site is only part of the big news we have for you. We have offered our users an early Eid tre ... more |
Dubai Realty Prices Will Fall Another 10%Tuesday, October 25, 2011 Dubai: Dubai's housing market will lose another 10 per cent of its value before its fortunes start to improve, possibly not until 2013, as investor appetite has been curbed by global financial woes, a Reuters poll showed yesterday.
Home prices and rents have already eased nearly 60 per cent from their peak in 2008, according to the median estimate of 10 banks, investment firms and research inst ... more |
Tamweel Profit Soars As Real Estate StabilisesMonday, October 24, 2011 Abu Dhabi: Islamic home fin-ance provider Tamweel said yesterday its fiscal third quarter net profit rose a whopping 114 per cent year on year to Dh15.7 million, adding it demonstrated continued profitability during a period of increasing stability in the domestic property market.
Net profit for the first nine months of 2011 rose 295 per cent year on year to Dh70.7 million, the company said in ... more |
Emaar's Dawahi Development To Offer 'Value Housing' In RegionSunday, October 23, 2011![Emaar\](http://www.bayut.com/property/common/resize.php?img=100/1002.jpg&d=45 "Emaar\") Dubai: Emaar Properties PJSC, the global property developer of iconic projects, Sunday announced the launch of its new wholly-owned subsidiary, Dawahi Development, a next-generation developer of ‘value housing’ projects within full-service community developments.
Dawahi Development will function as a separate entity with a dedicated management team and professional staff members focused on valu ... more |
Major Retailers Book Space In Aldar's Dh2b Yas MallFriday, October 21, 2011 |
Falling Rents A Double-Edged SwordFriday, October 21, 2011 Dubai: The news that rents are continuing to fall in Abu Dhabi as more property comes online would come as a surprise to few in the capital.
While construction appeared to slow down during the summer, the completion of the flagship project on Sowwah Island, the Abu Dhabi Stock Exchange, the long-awaited Salam Street and the Sorouh's Sun and Sky Towers certainly seems to have got the ball rollin ... more |
Abu Dhabi To Launch Rental Guidance IndexThursday, October 20, 2011 Abu Dhabi: Rents in the capital will soon be guided by an index providing information about the true rental value of properties, a senior municipal official said in the capital on Wednesday.
The index will determine the rental value of a unit based on indicators like location, number of bedrooms and how old it is, Ali Al Hashemi, manager of Tawtheeq at the Municipality of Abu Dhabi City, told G ... more |
Aldar Awards Dh2b Yas Mall ProjectMonday, October 17, 2011 Dubai: Aldar has awarded a Dh2 billion contract to a subsidiary of Orascom Construction Industries (OCI), an Egyptian construction giant, for the building of a 235,000 square metre shopping mall on Yas Island.
Six Construct, a subsidiary of the Besix Group, in which Orascom Construction Industries holds a 50 per cent stake, won the five-year contract, which will see the company develop Yas Mall ... more |
Al Maabar Launches New Morocco ApartmentsSunday, October 16, 2011 Abu Dhabi: Real estate development company Al Maabar has launched a new range of apartments in the Arts District of its Bab Al Bahr development in Rabat Sal, Morocco.
The first of the 390 apartments are scheduled to be completed in June 2012, Al Maabar said.
Surrounded by gardens and green spaces, the Arts District will host a variety of residential buildings, a five star hotel, boutiques, a ... more |
Will The Metro Green Line Push Rent Prices Upwards?Saturday, October 15, 2011 The opening of Dubai Metro's Green Line has certainly brought cheer to the lives of many people residing in Dubai as well as in neighbouring Sharjah. Several residents who depend on car pooling and buses to get to work and back are contemplating relocating to buildings closer to the new line.
For real-estate professional Iqbal (name changed on request), commuting to his workplace in Bur Dubai f ... more |
Rate Of Rent Decline Eases In Abu DhabiFriday, October 07, 2011 Abu Dhabi: There was a noticeable drop in the rate of decline of rental values in Abu Dhabi during the three months ended September, with those for apartments down 6 per cent compared with the 8 and 9 per cent during the previous two quarters.
In comparison, villa rents in the third quarter were relatively static for the second consecutive quarter; however, villas in off-island locations such a ... more |
Dubai Land Department Launches Draft Code Of GovernanceTuesday, October 04, 2011 Dubai: The Dubai Land Department yesterday launched the first-ever draft code of governance for real estate development companies which aims to encourage property investment and enhance the efficiency of real estate companies.
The governance code, approved by His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, is the ninth initiativ ... more |
