Teyban launches Sparkle Towers Phase II Thursday, September 03, 2015
Teyban launches Sparkle Towers Phase II Dubai-based property developer Tebyan has launched the the second phase of Sparkle Towers development. The project is being exclusively marketed by property consultancy firm Sherwoods Group. The facilities offered in the new development include fitness centres, temperature controlled swimming pools, privately owned and professionally managed females-only spa, designer landscaping and large com ... more
DWC is now 19th busiest cargo handler in worldThursday, September 03, 2015
DWC is now 19th busiest cargo handler in world Al Maktoum International-Dubai World Central (DWC) continued on the growth trajectory in the first half of 2015, with the facility becoming the 19th busiest cargo handling airport in the world. The DWC was previously ranked 20th. In the first half of the ongoing year, cargo volume swelled to 443,012 tonnes, a whopping 42 percent increase from 311,365 tonnes achieved in the first half of 2014. ... more
DAMAC to deliver first Dubai South homes in six monthsWednesday, September 02, 2015
DAMAC to deliver first Dubai South homes in six months Dubai-based private developer Damac Properties has announced it will deliver the first homes in Dubai South district within the next six months. DAMAC Properties is currently developing the 10-storey, 270 unit NAIA Tenora tower in Dubai South, a locality previously known as Dubai World Central. Damac said all of the blockwork and plasterworks at NAIA Tenora had already been completed and most ... more
RAK Properties awards construction contract for Flamingo Villas Phase IIWednesday, September 02, 2015
RAK Properties awards construction contract for Flamingo Villas Phase II Ras Al Khaimah-based property developer RAK Properties has awarded the construction contract for the second phase of its Flamingo Villas in Mina Al Arab waterfront development to the Al Nuaimi Group. The Flamingo Villas Phase 2 will consist of 68 units ranging in size from 2,004 to 2,334 square feet. The Phase 2 is scheduled for completion within a year’s time. Al Nuaimi Group was also app ... more
Al Futtaim group opens 6th City Centre Mall Wednesday, September 02, 2015
Al Futtaim group opens 6th City Centre Mall Dubai-based group Majid Al Futtaim has opened its sixth City Centre mall named City Centre Me’aisem in the UAE. The mall is company’s 12th development in the region and was built at a cost of AED 275 million. Majid Al Futtaim Holding CEO Alain Bejjani, City Centre Me'aisem Mall Manager Maryam Ahli, Tecom Investments Group CEO Dr Amina Al Rustamani, and Majid Al Futtaim Properties Shopping M ... more
Another AED 1b Jumeirah Village project for Skai?Wednesday, September 02, 2015
Another AED 1b Jumeirah Village project for Skai? Leading Dubai developer Skai has hinted at a new AED 1 billion hospitality project in Jumeirah Village, and the plan could get the go ahead by March next year. The group said negotiations for the project were on and the new project could have China State Construction Engineering Corp (Middle East) as a key investor and contractor. Skai Group CEO Kabir Mulchandani said the group saw Jumeirah Vi ... more
Emaar to launch Creekside 18Tuesday, September 01, 2015
Emaar to launch Creekside 18 Dubai-based master developer Emaar Properties will be launching its latest development on Dubai Creek, named Creekside 18, on September 12, 2015. The developer said the Creekside 18 will offer two 37-storey towers featuring 480 residential units. The prices of the units are expected to be between AED 1,250 and AED 1,400 per square feet. The project brochure paints Dubai Creek Harbour master ... more
Deyaar launches Phase 1 of Midtown project in IMPZTuesday, September 01, 2015
Deyaar launches Phase 1 of Midtown project in IMPZ Dubai-based property developer Deyaar Development has recently unveiled Phase I of its AED 3 billion Midtown development project in International Media Production Zone (IMPZ). The developer thinks rental yields of 11 to 12 percent will attract investors to buy their mid-income housing project. Although the developer refrained from revealing the sale prices, it asserted they would be quite com ... more
UAE citizens could get online credit reports by year endMonday, August 31, 2015
UAE citizens could get online credit reports by year end Al Etihad Credit Bureau, UAE’s still-developing credit rating bureau, has said it aims at enabling residents get a copy of their credit report online by the end of the ongoing year. Bureau Chief Executive Marwan Lutfi said he hoped the online service would be up and running in the fourth quarter, adding that customers would be able to submit their documents and IDs online and request a report ... more
Etihad seeks AED 1.8 billion to expand fleet Monday, August 31, 2015
Etihad seeks AED 1.8 billion to expand fleet Abu Dhabi’s Etihad Airways is looking to raise approximately AED 1.8 billion ($500 million) to expand its fleet by five aeroplanes. The Abu Dhabi carrier plans to start a fundraising, which may include financing from export credit agencies, operating leases and bank loans, a news source said. Company insiders say several groups of local and international banks are already bidding to provide ... more
Langham Group sets sight on Dubai Cordis hotelMonday, August 31, 2015
Langham Group sets sight on Dubai Cordis hotel Hong Kong-based Langham Hospitality Group is planning its third property in Dubai under its new upscale brand Cordis Hotels and Resorts. Langham Group Chief Executive Robert Warman said the group was in negotiations for announcing the property. Langham’s Cordis brand was announced in February 2015 and aims to cater to the corporate and leisure travellers. Warman said he believed the upsca ... more
Al Hamra ready to launch Falcon Island Phase 2Monday, August 31, 2015
Al Hamra ready to launch Falcon Island Phase 2 Al Hamra Real Estate Development, the leading real estate developer in Ras Al Khaimah, is set to launch the second phase of its Falcon Island development. The developer plans to showcase the project’s Phase 2 at the Cityscape Global in Dubai next month. To have an exclusive beach, the new development will offer luxury canal villas starting at AED 5.7 million. Launched in 2014, the Falcon Is ... more
Abu Dhabi Airport’s MTB begins to take shapeMonday, August 31, 2015
Abu Dhabi Airport’s MTB begins to take shape Abu Dhabi Airport’s Midfield Terminal building (MTB) crossed another milestone the other day when contractors started removing supports for a massive structure set to become the terminal’s roof. At 20,000-tonne and laced with engineering technicalities, the curved roof is at the heart of MTB project that will cost Dh10 billion to build. The roof structure will be supported by 18 arches of ... more
Al Habtoor eyes AED 1.5b loan for acquisitionsFriday, August 28, 2015
Al Habtoor eyes AED 1.5b loan for acquisitions UAE’s Al Habtoor Group is planning to borrow AED 1.5 billion from banks in order to finance new property investments. Reports said the First Gulf Bank was arranging a group of lenders to finance the deal. Al Habtoor will reportedly use the funds to make real estate acquisitions outside Dubai. A spokeswoman for Al Habtoor Group said they were in discussions with various banks in order to expl ... more
35 UAE developers to exhibit assets in MumbaiFriday, August 28, 2015
35 UAE developers to exhibit assets in Mumbai In order to showcase and promote their development projects in India, 35 UAE-based property developers are heading to a property show in Mumbai. Dubai Land Department (DLD) has already acknowledged Indians as the top investors in the emirate’s realty sector. This is the first time master developers like Nakheel and Emaar are travelling all the way to India to showcase their properties. Other ... more
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