The company clarified that the subsidiary was the subcontractor nominated by the main contractor to carry out works for a major project in Dubai.
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Union Properties’ unit initiates arbitration procedures to claim $408mln
Dubai – Union Properties announced that one of its wholly-owned subsidiary companies undertook legal procedures to claim about AED 1.5 billion. “The Executive Management will not spare any effort in …
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UAE property owners beware – Developers reclassifying projects will cost them
Dubai in particular saw a wave of ‘hotel apartment’ launches between 2012-25 as developers tried to pull in demand for bigger units, especially from Gulf investors. Image Credit: Gulf News Archive …
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Reopening responsibly: UAE stock markets gain as Dubai economy reopens
Dubai Financial Market jumped more than 2.5% while Abu Dhabi Securities Exchange gained 1.1% in the first hour of trading.
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Abu Dhabi Police arrest two teenagers for stunt driving in the rain
The reckless drivers were held after posting videos of the stunt on social media Abu Dhabi: Police arrested two Emirati teenagers for reckless driving and breaking traffic rules during the Eid …
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Facilio Launches REbuild, A Powerful New Toolkit, to Help Real Estate Owners Confidently Restart Property Operations
PRNewswire/ — Facilio Inc., an AI-driven property operations and maintenance platform, today announced the launch of REbuild, a ready-to-deploy …
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UAE markets open higher as trading resumes post-Eid
The main bourse in Dubai and Abu Dhabi were seen rising on Wednesday, as UAE markets resumed trading after a three-day closure on account of Eid Al Fitr. Dubai Financial Market (DFM) index gained 2.6 …
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UAE stock markets gain as Dubai economy reopens
Dubai Financial Market jumped more than 2.5% while Abu Dhabi Securities Exchange gained 1.1% in the first hour of trading.
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Facilio launches REbuild, a new remote operations toolkit, to help real estate owners safely restart property operations
REbuild from Facilio is the result of a collaborative effort with the CRE industry to rethink property management for the post-pandemic world …
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Union Properties seeks to recover Dh1.5bn in construction-related claims
A fully-owned unit of the developer has initiated arbitration proceedings to get money owed for a project completed a decade ago …
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Dubai developer DAMAC reports second straight quarterly loss, takes large impairment charges
DUBAI, May 27 (Reuters) – Dubai-based DAMAC Properties DAMAC.DU reported a loss for first-quarter on Wednesday, as the developer took more than 182 million UAE dirham ($49.55 million) in impairment …
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Fraudster creates fake online account of Dubai billionaire for donations
Dubai-based billionaire and chairman of Danube Group Rizwan Sajan has lodged a complaint with Dubai Police’s cybercrime department alleging that some fraudster has created a fake online account under …
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Fraudster creates fake online account of Dubai billionaire for donation
Dubai-based billionaire and chairman of Danube Group Rizwan Sajan has lodged a complaint with Dubai Police’s cybercrime department alleging that some fraudster has created a fake online account under …
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UAE real estate to see surge in buyers, says Reportage Properties
This reflects the UAE real estate stability, and the continued demand, especially for distinguished projects that provide high quality services to investors,”said Naser Alkhamees, Reportage Group CEO.
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Reportage Properties nets $71mln in UAE sales within 4 months
UAE-based Reportage Properties has announced total sales of Dh260 million ($71 million) during the first four months despite Covid -19 challenges. The company is presently developing eight projects in …
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Coronavirus: Can’t afford to pay rent in Dubai amid Covid-19? Here’s what you can do
It is understood that you are residing in a rented apartment in Dubai and due to prevailing pandemic you lost your employment in March. Therefore, you have decided to relocate to your home country …
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How Maradona proved such a vital inspiration for Briton in Dubai jail
There is one consolation of the Covid-19 crisis for Peter Margetts, who was jailed in Dubai for nine years for bouncing a cheque when his property development company collapsed during the 2008 global …
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