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 ... ( read original story ...)

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. ( read original story ...)

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 ... ( read original story ...)

Dubai announces passenger drone plans

Media captionThe drone was first unveiled at the CES tech fair in 2016. A drone that can carry people will begin "regular operations" in Dubai from July, the head of the city's Roads and Transportation Agency has announced at the World Government Summit. ( read original story ...)

Abu Dhabi’s New $125 Billion Sovereign Fund Is Taking Shape

Abu Dhabi is close to finalizing the merger of two of its largest sovereign wealth funds -- Mubadala Development Co. PJSC and International Petroleum Investment Co. The combined entity, which will be known as Mubadala Investment Co., will become the ... ( read original story ...)

Dubai aims to launch hover-taxi by July

DUBAI has tested a Chinese prototype of a self-driving hover-taxi, its transport authority said on Monday, with the aim of introducing the aerial vehicle in the emirate by July. The test of the one-man electric vehicle comes as the city state in the United ... ( read original story ...)