Chinese, French firms among five bidders for Dubai solar parkThursday, May 05, 2016
Chinese, French firms among five bidders for Dubai solar park China's Jinko Solar and France's EDF are among five bidders vying to bag the third phase of Dubai's 5,000 megawatt solar power park project, according to sources privy to the development. EDF is bidding for the project in collaboration with Qatar's Nebras Power. Saudi Arabia's Acwa Power, Abu Dhabi's Masdar, and a consortium headed by Japan's Marubeni Corporation are also placing their bids for ... more
Sheikh Mohammed approves design for futuristic Dubai stadiumThursday, May 05, 2016
Sheikh Mohammed approves design for futuristic Dubai stadium The Ruler of Dubai Sheikh Mohammed bin Rashid Al Maktoum has approved the design for a futuristic sports stadium to be built in Dubai at an estimated cost of AED 3 billion. The stadium, named Mohammed bin Rashid Stadium, will have a capacity to seat 60,000 people and will be built in the emirate's Al Aweer area. Once constructed, the stadium will become the world's first fully air-conditioned ... more
Construction starts on luxury residential project in Dubai's MBR City Thursday, May 05, 2016
Construction starts on luxury residential project in Dubai\ Dubai-based real estate company Gemini Property Developers has started construction of its luxury residential project named Gemini Splendor in Mohammed Bin Rashid (MBR) City. The project will have a total built-up area of over 320,000 square feet and offer 134 well-planned residential units featuring one, two and three-bedroom apartments, penthouses and townhouses. The project is expected to ... more
Thailand's Dusit to open new hotel in DubaiWednesday, May 04, 2016
Thailand\ Thailand's Dusit International is looking to open its first dusitD2 hotel in the UAE as part of its continuing expansion plans for the Middle East. The new dusitD2 Kenz Dubai will be located in the TECOM district of Dubai and face the Sheikh Zayed Road. The project will open its doors to guests in July 2016. The hotel will comprise 237 rooms and suites which will have facilities like free Wi-F ... more
Dubai developer launches Wyndham Dubai MarinaTuesday, May 03, 2016
Dubai developer launches Wyndham Dubai Marina Wyndham Dubai Marina, a project of Dubai-based real estate developer The First Group, has been officially opened. It is the first dedicated hotel development by the real estate firm. The hotel, comprising of 32-storeys and 486-rooms, is being managed by Wyndham Hotels and Resorts and offers unmatched views of the Gulf, Dubai Marina and the Bluewater Island. The hotel is also situated close to m ... more
Abu Dhabi's Ferrari World to see third phase of expansionMonday, May 02, 2016
Abu Dhabi\ Ferrari World, Abu Dhabi's renowned theme park, is planning to initiate the third phase of expansion which will feature the kinds of rides and attractions that 'have never been seen before', according to a senior executive. The expansion will reach completion by early 2017 and a total of three new rides and attractions will be added to the park. The park's overall capacity will also be increa ... more
Emaar's Q1 net profit climbs by 17 percentMonday, May 02, 2016
Emaar\ Dubai-based Emaar Properties has reported a 17 percent increase in net profits for the first-quarter of 2016 as sales rose and its hospitality and retail units showed healthy progress. The real estate developer made a net profit of AED 1.21 billion in the first-quarter ending March 31, according to a company statement. SICO Bahrain had earlier forecasted Emaar's first-quarter profits at AED ... more
Naresco wins main contract for Danube's Glitz 3 in Dubai Monday, April 25, 2016
Naresco wins main contract for Danube\ Dubai-based real estate developer Danube has awarded the main contract for its AED 350 million Glitz 3 project to Naresco Contracting. This was the third contract Naresco Contracting was awarded by Danube, as it also secured the main contracts of Glitz 1 and Glitz 2 developments last year. While awarding the contract to the company, Danube Founder and Chairman Rizwan Sajan said, "Naresco has a ... more
Switzerland becomes first country to sign up for Dubai Expo 2020Wednesday, April 20, 2016
Switzerland becomes first country to sign up for Dubai Expo 2020 Switzerland has officially signed up for Dubai Expo 2020 and has become the first country to do so. Expo 2020 Dubai Higher Committee Chairman Sheikh Ahmed Bin Saeed Al Maktoum announced the news after meeting Switzerland’s Ambassador to the UAE Maya Tissafi. Sheikh Ahmed said, “Expo 2020 Dubai will be an international focal point where people and countries will come together to ... more
Nakheel registers 8 percent rise in Q1 profitWednesday, April 20, 2016
Nakheel registers 8 percent rise in Q1 profit Dubai-based real estate firm Nakheel has revealed earning an 8 percent rise in its first-quarter profit. Nakheel registered a profit of AED 1.47 billion in the initial three months of 2016 ending on March 31. This marked a rise from the previous amount of AED 1.47 billion a year earlier, said a statement from the developer. The real estate firm did not disclose more details about its financial ... more
RAK Properties ready to launch second phase of Bermuda VillasMonday, April 18, 2016
RAK Properties ready to launch second phase of Bermuda Villas RAK Properties, Ras Al Khaimah's biggest property developer listed in the Abu Dhabi Stock Exchange, is ready to launch the second phase of its Bermuda Villas which is being developed under its trademark Mina Al Arab waterfront community. The initial phase of Bermuda Villas was launched in 2014 and the project is heading towards completion later in 2016. The launch of the second phase is expect ... more
Bloom Properties sells 70% units at Cityscape Abu DhabiFriday, April 15, 2016
Bloom Properties sells 70% units at Cityscape Abu Dhabi Abu Dhabi-based developer Bloom Properties has revealed that they sold 70 percent of units in its new project, Faya, at the Cityscape Abu Dhabi, thus marking a 20 percent increase on the forecasted sales by the real estate developer. At the recently concluded Cityscape event, Bloom Properties introduced Faya, the fourth phase of its master-planned community Bloom Gardens. The project comprises ... more
Dubai Investments eye AED 20 billion deals in 3-5 yearsFriday, April 15, 2016
Dubai Investments eye AED 20 billion deals in 3-5 years Dubai Investments is expecting to increase its assets by AED 20 billion in the next 3-5 years and is venturing into healthcare and education sectors in a bid to seek out new growth opportunities. At the firm's annual general meeting, shareholders also gave approval for a 12 percent cash divided after the developer raked in a net profit of AED 1.1 billion for 2015 with total assets amounting to ... more
Dubai Properties release Arabella 2 units at IPSThursday, April 14, 2016
Dubai Properties release Arabella 2 units at IPS Dubai Properties has released more units of Arabella 2 at the recent International Property Show (IPS) held in Dubai. Arabella Townhouses are located near the 41-acre Mudon Central Park and includes facilities like a 1.5 km jogging track, cycling track, sports courts, outdoor exercise stations, water features and water play areas. Furthermore, the new Al Salam Town Centre, spread over 64,000 s ... more
Eagle Hills to initiate work on The Address Fujairah Resort and SpaThursday, April 14, 2016
Eagle Hills to initiate work on The Address Fujairah Resort and Spa Eagle Hills, the Abu Dhabi-based real estate investment and development company, has unveiled its first development in the UAE recently. The real estate developer will be involved in the development of a new project in Fujairah in collaboration with The Address Hotels and Resorts, the firm announced at Abu Dhabi Cityscape. The latest project will include The Address Fujairah Resort and Spa hot ... more
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