Real Estate

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17 April 03:55 PM Arada awards AED 615m contracts for Masaar development project

UAE – Mubasher: Arada has awarded two contracts at an aggregated value of AED 615 million to build all 565 homes in Azalea, the fourth phase of Masaar, according to a press release. Masaar is valued at AED 9.50 billion and includes 3,000 villas …

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16 April 01:01 PM Cairo-based Bold Routes launches 1st regional office in Dubai

Mubasher: Bold Routes, an Egypt-based brokerage company for real estate, has launched its tenth branch in Dubai, marking its first regional office, according to a press release. Abdel Rahman Badr, CEO of Bold Routes, highlighted that the company’s …

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8 April 02:10 PM Olayan, Lunate acquire equity ownership in ICD Brookfield Place

Mubasher: Investment Corporation of Dubai (ICD) and Brookfield Corporation (Brookfield) penned a deal with Olayan Financing Company and Lunate for the sale of a 49% stake in ICD Brookfield Place (ICDBP), according to a press release. Under the …

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4 April 11:21 AM Dubai South Properties awards AED 1.5bn contract to Al Kharafi Construction

UAE – Mubasher: Dubai South Properties has awarded an AED 1.50 billion contract to Al Kharafi Construction Company to build the third, fourth, and fifth phases of the South Bay project. The company launched the fourth phase of the project, which …

Companies Investments

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3 April 03:03 PM Aldar to launch 1st logistics facility at Dubai South

Abu Dhabi – Mubasher: Aldar Properties and Dubai South will team up to develop Grade A logistics facilities at Dubai South’s Logistics District, according to a press release. The Grade A logistics facility, spanning nearly 23,000 square metres of …

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2 April 02:01 PM Union Properties achieves AED 816m plot sales in Q1-24

Dubai – Mubasher: Union Properties recorded robust asset sales and cash flow generation during the first quarter (Q1) of 2024, according to a press release. During the three-month period that ended on 31 March 2024, the company successfully closed …

Companies Investments

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1 April 04:56 PM GFH Partners injects $450m in US real estate sector

Mubasher: GFH Partners Limited, a subsidiary of GFH Financial Group, has invested $450 million in the US real estate sector between the fourth quarter (Q4) of 2023 and Q1-24. In the Medical Clinics sector, GFH Partners has a portfolio of assets …

Companies Investments

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1 April 01:15 PM DLD partners with 9 developers to boost Dubai Real Estate Programme

UAE – Mubasher: Dubai Land Department (DLD) has signed a partnership agreement with nine developers to bolster the Dubai Real Estate Programme. The agreement was signed with Emaar Properties, Expo Dubai, Deyaar, DAMAC Properties, Azizi …

Companies Investments

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31 March 02:31 PM FABMISR implements CBE’s 8% mortgage finance initiative

Cairo – Mubasher: First Abu Dhabi Bank Misr (FABMISR), an Egypt-based unit of the ADX-listed FAB, has launched a mortgage finance system with an interest rate of up to 8%, in implementation of the latest initiative by the Central Bank of Egypt …

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26 March 11:10 AM Dubai Investments’ real estate unit launches AED 300m residential project

Dubai – Mubasher: Dubai Investments Real Estate (DIR), the real estate arm of Dubai Investments, has launched an AED 300 million residential project in Dubai’s Jumeirah Village Circle (JVC). Named Violet Tower, the residential project features a …

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18 March 10:55 AM Aldar Properties sells Abu Dhabi’s most expensive apartment

Abu Dhabi – Mubasher: Aldar Properties has announced selling the most expensive apartment in Abu Dhabi for AED 137 million, or AED 96,000 per square meter. The sold unit is a three-bed penthouse at Nobu Residences on Saadiyat Island, according to …

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17 March 02:37 PM Union Properties incurs AED 2.1bn accumulated losses

Dubai – Mubasher: The accumulated losses of Union Properties reached AED 2.10 billion at the end of the fourth quarter (Q4) of 2023, accounting for 49.08% of the firm’s capital. The losses are mainly attributed to a fair value loss of AED 2.07 …

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17 March 12:33 PM Emaar Development’s board mulls AED 2bn dividends for 2023

Dubai – Mubasher: The board members of Emaar Development approved cash dividends valued at AED 2.08 billion for 2023, according to a bourse filing. The company will disburse a dividend of 52 fils per share, which is still subject to the approval …

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11 March 06:35 PM IL Cazar launches The Crest upon collaboration with Emirati UDC, EGP 30bn investment

Cairo – Mubasher: Egyptian real estate company IL Cazar has unveiled its latest residential venture under the name The Crest, which marks the first collaboration with the UAE’s UDC Real Estate Development, the subsidiary of Mohammad Omar bin …

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6 March 12:42 PM Deyaar to disburse cash dividend for 1st time

Dubai – Mubasher: The board members of Deyaar Development approved cash dividend distribution for the first time in the company's history, according to a press release. The board recommended distributing 4% of the share capital as dividend, which …

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28 February 09:57 AM Q Holding takes over ADNEC; rebranding unveiled

Abu Dhabi – Mubasher: Q Holding acquired more than 100% of the share capital for Abu Dhabi National Exhibitions Company (ADNEC), according to a press release. The ADX-listed firm reinforced its position in Abu Dhabi’s real estate market by …

Companies Investments

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26 February 12:30 PM Union Properties earns AED 500m from land sale

Dubai – Mubasher: Union Properties sold over AED 500 million worth of land, which reflects a significant milestone in the company’s turnaround strategy. This aligns with the company’s strategy to maximise shareholder value and capitalise on …

Companies Investments

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25 February 10:10 AM Abu Dhabi-based ADQ to invest $35bn in Egypt’s Ras El-Hekma

Mubasher: Abu Dhabi-based investment and holding firm ADQ signed an agreement to invest $35 billion in Egypt’s Ras El-Hekma, according to a recent press release. Under the joint deal, ADQ will acquire the development rights for Ras El-Hekma in …

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15 February 04:27 PM Union Properties generates AED 811m profits in 2023

Dubai – Mubasher: Union Properties logged net profits standing at AED 811 million in 2023, marking an annual growth of 60% in operating profits and 2,607% in net profits. The company’s subsidiaries also witnessed solid performance, with revenues …

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13 February 01:58 PM Rak Properties logs higher profits in 2023; dividends, capital hike proposed

Abu Dhabi – Mubasher: Rak Properties generated AED 201.81 million in net profit during 2023, compared to AED 30.78 million in 2022, according to the consolidated financial results. Revenues hiked to AED 1 billion last year from AED 408.21 million …

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11 February 05:02 PM Emaar Properties logs 70% higher profits at AED 11.6bn in 2023

Dubai – Mubasher: Emaar Properties generated revenues of AED 26.70 billion ($7.30 billion) in 2023, marking a 7% year-on-year (YoY) growth. The company logged and net profit valued at AED 11.60 billion ($3.20 billion) as of 31 December 2023, …

Financial Results

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11 February 02:42 PM Emaar Development’s property sales leap to AED 37.4bn in 2023

Dubai – Mubasher: Emaar Development posted a 22% year-on-year (YoY) surge in property sales to AED 37.40 billion ($10.20 billion) during January-December 2023, versus AED 30.70 billion ($8.40 billion). The DFM-listed firm attributed the solid …

Financial Results

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11 February 10:45 AM Aldar’s profits to shareholders hit AED 3.9bn in 2023

Abu Dhabi – Mubasher: The net profits attributable to the owners of Aldar Properties hiked to AED 3.92 billion in 2023 from AED 2.94 billion in 2022. Revenue and rental income amounted to AED 14.16 billion last year, higher than AED 11.20 billion, …

Financial Results

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8 February 01:59 PM Aldar unveils investment plans in Europe; contracts awards hit AED 22bn in 2023

Abu Dhabi – Mubasher: Aldar Properties teamed up with global investment firm Carlyle to invest AED 407 million ($111 million) in logistics and storage assets across Europe, according to a press release. Under the partnership, Aldar will have a …

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7 February 04:19 PM UAE’s Jumeirah Group makes hotel debut in Saudi Arabia

UAE – Mubasher: Jumeirah Group, a luxury hotels member of Dubai Holding, has opened its first hotel in Saudi Arabia under the name Jumeirah Jabal Omar Makkah. Situated in Jabal Omar and near the Great Mosque of Makkah, the new hotel boasts …