Dubai real estate market an ‘investment destination’

UAE-based Arenco Real Estate sees a stronger real estate market for Dubai in the coming years due to unlimited opportunities that are open and available to investors. Home to more than 200 nationalities, Dubai is one of the world’s most diverse places to ... ( read original story ...)

Watch: Dubai Safari closed due to heavy rain

Heavy rains in Dubai flood roads and pavements causing disturbance to traffic and pedestrians in the early hours of the day. (Photo: Clint Egbert/Gulf News) “School buses usually leave by 2.15 pm but left at 1.15 pm as the last period was cancelled. ( read original story ...)

The Irishman fronting the UAE’s biggest IPO in a decade

Irishman John Carey is fronting the biggest initial public offering (IPO) in the United Arab Emirates in over a decade in a deal worth 3.31 billion dirhams (€767 million). Carey, who worked for 17 years at oil giant BP in senior roles around the globe ... ( read original story ...)

ADNOC Distribution Jumps 16% At Market Debut In UAE

ADNOC Distribution, the fuel retail unit of the UAE’s state oil firm ADNOC, made a strong debut on the Abu Dhabi Securities Exchange on Wednesday, opening 16 percent higher than the price set in the initial public offering (IPO). Shares in ADNOC ... ( read original story ...)

Saudi Arabia drives MENA IPO activity in Q3 2017: EY

UAE. The Middle East and North Africa (MENA) region witnessed five IPO deals in the third quarter of 2017, representing a 400% increase when compared to the single IPO recorded in Q3 2016. Announced MENA value, or capital raised, reached US$ 236.7 million ... ( read original story ...)

ADNOC Distribution IPO Valuation Could Be Lesson For Aramco

The Abu Dhabi National Oil Company (ADNOC) has set an IPO offer price for its fuel distribution unit at US$ 8.5 billion, well below the up-to-US$14 billion valuation the UAE’s state oil firm was targeting six months ago. The difference between the ... ( read original story ...)