The grim prediction came after Dubai residential prices fell by 5 to 10 percent in 2017, and the weak property market has also begun to hurt earnings of the emirate’s top property developers. “We believe this correction will continue at least for this …
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Abu Dhabi Municipality tests video for building permit process
Abu Dhabi City Municipality has launched a trial to test video … consultant offices, developers and property owners. The system is intended to allow review of layouts, discussions, reviews and approvals of all phases of the application process, and …
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Dubai luxury property oversupply will prevent rapid rebound, says Phidar
Property prices in Dubai will take longer to rebound, as oversupply in the luxury market continues, according to Phidar Advisory managing director Jesse Downs. While the minor oversupply of 5-10 percent in the Dubai property market is “manageable and …
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Emaar Properties records upsurge in Dubai property sales by 25% to AED 18.03 billion (US$ 4.91 billion) in FY 2017
* Shopping malls, hospitality and leisure and entertainment businesses account for 34% of revenue at AED 6.351 billion (US$ 1.729 billion) * Successful listing of Emaar Development PJSC on Dubai Financial Market (DFM) by selling 20% of shareholding though …
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Aldar Properties offplan sales hit $952m in 2017
Aldar Properties, a leading real estate developer in Abu Dhabi, UAE, said it has delivered a robust performance across its two business pillars in 2017. Announcing the results for the full-year 2017, Aldar stated that its underlying gross profit had surged …
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Abu Dhabi developer Aldar reports 28.5% fall in 2017 net profit
DUBAI: Abu Dhabi developer Aldar on Wednesday reported a 28.5 percent fall in its annual net profit for 2017, impacted by a 3 percent value adjustment to its asset management portfolio as well as weaker property prices. Net profit attributable to …
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UAE property market has slowed due to maturity
The UAE’s property market will continue to see an average softening of prices and rental rates in 2018, though experts believe this will bring the Emirates more in line with global norms. With investors become more willing to accept lower yields, and …
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Dubai property market ‘continues to show growth’, says Damac’s Sajwani
Dubai’s property market continues to show signs of growth with increasing demand returning to the market, according to Damac Properties chairman. The luxury developer reported a net profit of $762 million in its yearly profits announced earlier today (a …
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Emaar’s Dubai property sales jump 25% to Dh18 billion
(MENAFN – Khaleej Times) Dubai – Emaar Properties 2017 net profit jumped to Dh5.7 billion as against Dh5.23 billion in the previous year, an increase of nearly nine per cent. It recorded a net operating profit of Dh5.704 billion ($1.553 billion) during …
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Abu Dhabi’s Aldar Properties Q4 profit tumbles
Aldar Properties, the state-linked builder of Abu Dhabi’s Formula One circuit, reported an 80 per cent fall in fourth-quarter profit due to a one-time charge, its chief financial officer said on Thursday. Aldar made a net profit attributable to owners of …
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Abu Dhabi’s Aldar reports 34% growth in 2017 underlying profit
Aldar Properties has released details of its 2017 financial performance, announcing a 34% hike in its underlying gross profit for the year. In a statement, the Abu Dhabi-headquartered property developer revealed that its 2017 underlying profit reached $ …
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Dubai’s Emaar Properties sees Q4 profit dip amid higher costs
Emaar Properties reported a 16 per cent slide in fourth-quarter net profit on Wednesday as costs weighted on Dubai’s largest listed developer. Emaar’s weak performance follows results from fellow developer Damac Properties earlier, which showed a …
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Dubai property firm Damac Q4 profit plunges 47%
Dubai’s Damac Properties , the owner and operator of the only Trump-branded golf club in the Middle East, posted a nearly 47 percent drop in fourth-quarter profit, while full year profit dropped by 25 percent. The results came as Dubai, its core property …
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Dubai property firm DAMAC Q4 profit plunges 47 pct
DUBAI, Feb 14 (Reuters) – Dubai’s DAMAC Properties , the owner and operator of the only Trump-branded golf club in the Middle East, posted a nearly 47 percent drop in fourth-quarter profit, while full year profit dropped by 25 percent. The results came …
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Dubai property firm Damac sees Q4 profit dip 47%
Dubai’s Damac Properties , the owner and operator of the only Trump-branded golf club in the Middle East, posted a nearly 47 per cent drop in fourth-quarter profit, while full year profit dropped by 25 per cent. The results came as Dubai, its core …
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Dubai realty gets Chinese boost
UAE real estate, particularly that of Dubai, is steadily gaining interest among savvy Chinese investors. This extends to the brick-and-mortar assets, contracting industry as well as construction finance. The Chinese were the fourth most active real estate …
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Commercial property downturn in UAE extends into ninth quarter
LONDON: Demand for commercial space in the UAE fell for the ninth consecutive quarter in the last three months of 2017, with a marginal decline seen in office rentals, but a steeper deterioration affecting industrial and retail space. Even as demand falls …
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