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05 June 01:20 PM

Real Estate

Union Properties incurred a net loss of AED 218.806 million in 2019
28 May 11:27 AM Union Properties expects verdict in AED 1.5bn claim in 18M
Dubai – Mubasher: Union Properties expects a final verdict to be delivered in its AED 1.5 billion arbitration claims against a contractor within 18 months until the end of 2021, according to a press released on Thursday. The claim is related to …
Real estate
Losses amounted to AED 106 million during the first quarter
25 May 06:01 PM DAMAC turns to losses in Q1-20
Dubai – Mubasher: DAMAC Properties has reported losses of AED 106 million during the first quarter (Q1) of 2020, against a profit of AED 31.1 million for the same period of 2019. The value of the company’s assets fell to AED 23.3 billion, while …
Real estate
The Burj Khalifa displayed the ‘UAE Gold Bullion Coins’
25 May 12:35 PM DMCC lights up Burj Khalifa in celebration of Eid Al Fitr – Photos
UAE – Mubasher: The Dubai Multi Commodities Centre (DMCC) has exhibited a light show on the emirate's iconic Burj Khalifa to mark the celebration of Eid Al Fitr by sending a message to all across the UAE. In addition, the facade of the Burj …
Event
The company reported consolidated new awards of $599.2m
21 May 01:39 PM Orascom Construction reports $5.4bn in Q1-20
Cairo – Mubasher: The backlog excluding BESIX of Orascom Construction PLC reached $5.4 billion during the first three months of 2020, up 24.1% year-on-year (YoY) from $4.3 billion in the same months of 2019. With the pro forma including 50% of …
Companies Investments
The company is establishing 2,425 units in Abu Dhabi
21 May 12:29 PM Reportage Properties records AED 260m in 5M
UAE – Mubasher: The sales of the Abu Dhabi-based real estate developer Reportage Properties totalled AED 260 million from January to April 2020, compared to AED 480 million in 2019. Data showed strong real estate sales in Abu Dhabi and Dubai …
Companies Investments
Ora Developers signed a EGP 1 billion loan agreement with Banque Misr
12 May 11:50 AM Ora Developers inks deals with Orascom, Banque Misr for ZED Phase I
Cairo – Mubasher: Orascom Construction PLC signed an agreement with Ora Developers to establish the first phase of ZED Sheikh Zayed in Egypt. In addition, Ora Developers also signed a EGP 1 billion loan agreement with Banque Misr to finance the …
Banking and Finance
ADDED has launched a digital service to support the private sector
11 May 01:20 PM UAE launches digital service for 20% rental rebate
UAE – Mubasher: The Abu Dhabi Department of Economic Development (ADDED) has launched a new digital service to support the private sector against the impacts of the coronavirus (COVID-19) pandemic, according to Emirates News Agency (WAM). As part …
Macroeconomics
The cash sum amounts to AED 40 million (KWD 3.4 million)
11 May 10:25 AM Al Mazaya’s unit sells property in Dubai for AED 77m
Mubasher: A UAE-based subsidiary of Al Mazaya Holding has signed a contract for the sale of a property in Dubai, with the price value to be paid in cash and in-kind. Upon completion of the sale procedures, the total value of the deal will near AED …
Companies Investments
The property's annual rental value starts at AED 4m
10 May 03:08 PM Musharaka REIT fund to acquire property with AED 46m
Riyadh – Mubasher: Musharaka Capital Company, the fund manager for Musharaka REIT fund, started the acquisition procedures of a property in Dubai at a total value of AED 46 million ($12.5 million). The property, one of the Middle East's largest …
Real estate
Al Dhabi Contracting will build 146 residential units in AlJurf
3 May 11:32 AM IMKAN awards Al Dhabi Contracting AED 236m building contract
UAE – Mubasher: IMKAN, an Abu Dhabi-based real estate developer, has granted Al Dhabi Contracting an AED 236 million contract to construct the first phase of AlJurf, a second home coastal destination. As part of the first phase, set to be …
Companies Investments
Haider Ali Khan, Head of EMPG - MENA
29 April 11:01 AM EMPG merges with OLX Group in UAE, Egypt, other markets
UAE – Mubasher: Emerging Markets Property Group (EMPG), a top-notch property portal group in emerging markets, and OLX Group, a subsidiary of Prosus, announced their merger in the UAE, Egypt, Lebanon, and Pakistan. The deal involves a $150 million …
Real estate
The bank acquired the 2,032-unit portfolio in the US in 2016
28 April 11:50 AM Al Salam Bank exits from real estate portfolio in US for $182m
Mubasher: Al Salam Bank – Bahrain, dually listed on Bahrain Bourse and the Dubai Financial Market (DFM), has sold a portfolio of seven multifamily assets in the US for $182.5 million, exceeding the original underwriting. The bank acquired …
Companies Investments
The total mortgages represented 46.2% of transactions
27 April 11:59 AM Dubai's real estate transactions exceed AED 48bn in Q1-20
Dubai – Mubasher: Dubai's total real estate transactions have amounted to 14,964 worth around AED 48.21 billion during the first quarter (Q1) of 2020, according to latest data by the Dubai Land Department (DLD). The number of land transactions …
Sector Reports
Tabreed's production capacity in Dubai has risen to 278,801 RT
6 April 11:27 AM Tabreed signs AED 2.48bn deal to acquire district cooling system
Dubai – Mubasher: The National Central Cooling Company (Tabreed) has inked an agreement with Emaar Properties to acquire 80% of Emaar's Downtown Dubai district cooling system at a value of AED 2.48 billion ($675 million). Through this long-term …
Real estate
Arabtec Holding's unit was granted two contracts
6 April 10:34 AM Arabtec Holding's unit wins AED 210m projects in Abu Dhabi
Dubai – Mubasher: Target Engineering, a wholly-owned subsidiary of Arabtec Holding, was awarded two contracts at a total value of AED 210 million ($57.18 million) in Abu Dhabi. Arabtec Holding's subsidiary was granted a 22-month contract worth AED …
Companies Investments
Dubai's property transactions soared by 33% in February
18 March 11:17 AM Property Finder sees hike in Dubai’s real estate transactions in Q1-20
Dubai – Mubasher: Property Finder, an online property portal that helps buyers and renters in the MENA region find a home, reported a surge in real estate transactions in Dubai during the early months of 2020, ahead of concerns regarding the …
Sector Reports
The Bridge offers access to major European cities, including Paris and London
16 March 10:37 AM Investcorp takes over Coca-Cola Belgium HQ for EUR 88m
Mubasher: Investcorp announced that its European real estate business has acquired The Bridge, a single let office and research and development (R&D) asset in Brussels, from a wholly-owned subsidiary of the Coca-Cola Company for EUR 88 million …
Companies Investments
Aldar and Ma'an are expected to launch the bond later this year
15 March 11:45 AM Aldar, Ma'an ink deal for GCC’s first social impact bond
UAE – Mubasher: Aldar Properties has signed a strategic agreement with the Authority of Social Contribution (Ma'an) to invest AED 2 million in the GCC’s first social impact bond by Ma'an. As part of the agreement, Aldar and Ma'an will cooperate in …
Bonds
The number of cases of COVID-19 exceeded 118,000
12 March 11:38 AM Emaar Properties temporarily suspends bookings in 3 hotels on coronavirus fears
Dubai – Mubasher: Emaar Properties confirmed the news about the temporary suspension of bookings in three of its hotels amid rising concerns over the spread of the novel coronavirus (COVID-19).   The company’s subsidiary Emaar Hospitality Group …
Real estate
Abu Dhabi saw around 19,000 real estate transactions in 2019
4 March 01:42 PM Abu Dhabi’s real estate transactions record AED 58bn in 2019
UAE – Mubasher: The total value of real estate transactions in Abu Dhabi reached AED 58 billion in 2019, according to data by the Abu Dhabi Department of Municipalities and Transport (Abu Dhabi DMT). Abu Dhabi saw around 19,000 real estate …
Real estate
The project is expected before the end of next June
26 February 03:43 PM UAE’s Arada plans new investment in Saudi Arabia in H1-20
Riyadh – Mubasher: Arada Real Estate Company plans to pump new investments in Riyadh by the end of the first half (H1) of the year, as it sees promising opportunities in the Saudi market. The UAE-based company is still in talks with Saudi …
Real estate
Nasdaq Dubai has welcomed listing of $400m Sukuk by Dar Al-Arkan
26 February 11:28 AM Nasdaq Dubai welcomes Dar Al-Arkan’s $400m Sukuk listing
Mubasher: Nasdaq Dubai has welcomed the listing of $400 million Sukuk by Saudi Arabia's Dar Al-Arkan, one of the leading real estate companies in the Middle East. Following the $400-million listing, the total value of Dar Al-Arkan’s Sukuk in …
Real estate
The MBF group will build six cities in Egypt
25 February 10:40 AM MBF Group mulls to inject EGP 300bn investments in Egypt
UAE – Mubasher: Emirati MBF Group Holdings and Establishments currently considers injecting EGP 300 billion investments in Egypt by building six investment cities in Suez Canal axis, according to the Emirates News Agency (WAM). The chairman of …
Companies Investments
Majid Al Futtaim’s business rapidly grew in 2019
24 February 01:00 PM Majid Al Futtaim’s revenues rise to AED35bn in 2019
UAE – Mubasher: Majid Al Futtaim, a leading lifestyle provider with shopping malls, hotels, cinema, hypermarkets, reported a 1% year-on-year (YoY) rise in revenues to AED35.2 billion in 2019. The group’s strong operational performance also led to …
Real estate
Chestertons has opened a new office on Al Reem Island
23 February 12:51 PM Chestertons inaugurates new office in Abu Dhabi
UAE – Mubasher: Chestertons, the British and international residential property specialist, has opened a new office on Al Reem Island in Abu Dhabi to meet the increasing demand for future master-planned free-hold communities and boost the real …
Real estate