Starwood to develop first hotel in RAKThursday, May 19, 2016
Starwood to develop first hotel in RAK Starwood Hotels & Resorts Worldwide is looking to expand its footprint in the United Arab Emirates (UAE) hospitality market with plans to open a Four Points by Sheraton in Ras Al Khaimah. The project will be developed in collaboration with Hamarain Real Estate. The hotel will become Starwood's first property in the emirate of Ras Al Khaimah and the fourth Four Points by Sheraton in the UAE. The ... more
RAK's Al Hamra announces completion of upmarket Bayti townhousesThursday, May 19, 2016
RAK\ Al Hamra Real Estate Development (AHRED), the developer behind Ras Al Khaimah, has announced the completion of the Bayti community of luxury townhouses. According to the company statement, around 118 townhouses have already been constructed and phase one is currently being handed over to investors. A three-bedroom townhouse will cost around AED 1.55 million while a six-bedroom detached villa w ... more
Work begins on Omniyat's AED1 billion Langham Place HotelWednesday, May 18, 2016
Work begins on Omniyat\ Dubai-based real estate developer Omniyat Group has awarded the enabling works contract for its Langham Place Hotel and Residences in Downtown Dubai to NSCC International. The project will be completed at a cost of AED 1 billion. In this connection, Omniyat Group Managing Director Mark Phoenix said, "The commencement of construction and award of the enabling contract to Dubai-based NSCC is a ... more
Gemini Property gives go ahead to debut UAE residential projectWednesday, May 11, 2016
Gemini Property gives go ahead to debut UAE residential project India-based Gemini Property Developers has announced initiating work on its high-end apartment project in Dubai. This will mark the start of a series of luxury development projects launched by the company in the gulf region. The project, named Gemini Splendor, will comprise a total of 134 units of one-, two- and three-bedroom apartments, penthouses and townhouses equipped with hi-tech facilit ... more
India's hotel chain Lemon Tree to set up business in UAEWednesday, May 11, 2016
India\ India's Lemon Tree Hotels is eyeing expansion into the UAE market owing to growing numbers of Indian tourists and businessmen travelling to the gulf country on frequent basis. The company plans to operate eight properties in the country in next three years. The mid-scale hotel operator is focusing to develop a mix of hotels and serviced apartments in Abu Dhabi, Fujairah and Dubai, where it will ... more
Aldar Properties register 15 percent increase in Q1 net profitTuesday, May 10, 2016
Aldar Properties register 15 percent increase in Q1 net profit Abu Dhabi-based Aldar Properties has registered a 15 percent year-on-year increase in Q1 net profit for 2016 by pocketing AED 654 million. The real estate developer said the increase in profits has been achieved due to growth in its recurring revenue, which amounted to AED 403 million after registering a 10 percent increase. Currently, recurring revenue contributes 61 percent of Aldar's turnov ... more
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
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