The firms are pitching tent in the East African nation advertising the properties that include residential apartments and holding property clinics as they seek to woo buyers. Deyaar, a Dubai-based company, is the latest firm to sell its new project in …
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Dangerous Promotions May Trigger Legal Actions in Dubai
Cayan Group, a property developer, strongly condemned Russian model Viki Odintcova and her assistants’ daredevil stunt of hanging off the edge of the Cayan Tower roof without any restraints, or safety precautions. The stunt was carried out without the …
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Somaliland: “The Award of a Military Base to the UAE in Berbera is Illegal, Corrupt and Shall never Be” Says Somalia Auditor General (2)
This sentiments by the SFG public property watchdog were in reference to the unanimous approval accorded by parliament in Hargeisa a deal between the governments of Somaliland and UAE for an Emirati military base in Berbera. While the terms of the …
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Dubai firm targets Kenyan investors
In the last few years, multinational companies engaged in property development from the Middle East, especially the United Arab Emirates and India have heightened their search for investors from Kenya. Deyaar Development in particular has sighted Kenyan …
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Dubai real estate deals hit $11.4bn in 45 days
Dubai’s real estate market has kicked off the new year on a positive note with the value of its real estate transactions hitting Dh42 billion ($11.4 billion) in the first 45 days, said a report by Dubai Land Department (DLD). With the transactions value …
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Dubai Properties will not let market keep dozing – gulfnews.com
Dubai Properties is not waiting around for the property market to “wake up” — the developer is out to do that on its own. It was the first to come up with off-plan villa launches this year, at its expanding community in Dubailand. And more are on the …
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Mario Volpi: Property resale registration fees illegal in Abu Dhabi
I have a question on the topic of developers’ so-called registration fees on resales. I am buying a villa in Abu Dhabi and the developer is charging a whopping 5 per cent fee for the resale registration. I was under the impression that this was made …
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Dubai Properties sweetens villa deals with…
Dubai Properties is leading the charge for recovery in the villa sales market in Dubai. The developer was the first to announce villa sales this year in La Quinta, phase two of its master community Villanova off the Dubai-Al Ain highway. In a bid to …
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DAMAC Properties Dubai reports net profit of AED 3.69 billion in 2016
DAMAC Properties Dubai Co., a leading property developer in the Middle East, today announced the financial results for the full year 2016. During 2016, DAMAC recorded revenues of AED 7.16 billion, with gross profit margins at 56%. Net profit for the …
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UPDATE 1-UAE's Aldar Properties expects lower 2017 sales after flat Q4 profit
ABU DHABI Feb 14 Aldar Properties expects lower sales in 2017, its chief financial officer said on Tuesday after the builder of Abu Dhabi’s Formula One circuit reported flat fourth-quarter profit. Net attributable profit fell to 727.9 million dirhams ($ …
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Abu Dhabi's Aldar Properties forecasts lower 2017 sales
ABU DHABI Feb 14 Aldar Properties, the state-linked builder of Abu Dhabi’s Formula One circuit, expects sales of 3 billion dirhams ($816.8 million) in 2017, down from 3.5 billion dirhams in 2016, Chief Financial Officer Greg Fewer said on Tuesday.
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Tenants have it their way in Abu Dhabi’s rental leases
Those looking out for a high-end apartment or villa to rent in Abu Dhabi should be able to get their way, with rates declining by 7 and 10 per cent respectively on these property types during 2016. From a landlord’s perspective, the current situation …
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Aldar Properties 2016 net profit surges to $762m
Aldar Properties, a leading property development company in Abu Dhabi, UAE, has reported a eight per cent jump in its net profit for the financial year ended December 31, 2016 which soared to Dh2.8 billion ($762 million) from Dh2.6 billion ($707 million …
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Abu Dhabi rents continue to drop under market pressures
according to the Abu Dhabi Residential Market Update Year in Review 2016 report from leading international property agency Chestertons Mena. “Redundancies and the shrinkage of the oil and gas sector continue to place pressure on the demand in the market.
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Aldar Properties : proposes 11% dividends for 2016
Abu Dhabi – Mubasher: Aldar Properties said its board recommended 11% cash dividends, equivalent to 11 fils per share, for the fiscal year 2016, according to a statement. Total recommended dividend payout stood at AED 865 million for FY16. The company’s …
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Aldar Properties reports an 8% increase in net profit to AED2.8 billion for 2016
We continue to see demand for our destination development strategy to create high quality, well-situated properties in vibrant communities in Abu Dhabi. As a result, our development sales value increased 17 percent to AED3.5 billion in 2016. Regarding our …
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Abu Dhabi Airports awards car parking contract for Midfield Terminal Complex
Abu Dhabi Airports has awarded a five-year car parking contract … shopping malls, universities, hospitals and property developers.
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