Already facing international probes of some $4.5 billion in undisclosed debt, “aggressive” global creditor litigation and an insolvency action in the U.K., Abu Dhabi-based private health care provider …
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Dubai’s Union Properties subsidiary initiates $408mln claims against main contractor
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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Profits of Abu Dhabi’s Aldar decline 39 percent in 2020 starting quarter
Real estate developer based in Abu Dhabi, Aldar Properties, said on Thursday that it suffered a 39 percent drop in its profits in the starting quarter of 2020 and said that it might delay new projects …
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Manazel reports rise in 2019 profit due to higher revenue
Abu Dhabi-based real estate developer Manazel reported a 4 per cent increase in its profit for 2019 on the back of higher revenue. Net profit for the period ending December 31 climbed to Dh240.6 …
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Dubai’s Union Properties subsidiary initiates Dh1.5 billion claims against main contractor
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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