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KSA's residential rental rates are likely to remain under pressure in the short-to-medium term.
21 October 03:14 PM Saudi residential mortgage market may maintain momentum after VAT exemption
Riyadh – Mubasher: Saudi Arabia’s resilient residential mortgage market is expected to maintain momentum following the recent move by the Saudi government to exempt property deals from 15% value-added tax (VAT) and instead impose a new 5% tax on …
Abu Dhabi saw a decline of 1% in the average apartment rental rate
21 October 01:34 PM Abu Dhabi sees higher real estate transactions in Q3-20
UAE - Mubasher: Abu Dhabi witnessed an increase in the number of real estate transactions during the third quarter (Q3) of 2020 following the easing of restrictions imposed amid the coronavirus (COVID-19) outbreak. The average apartment and …
Dubai's property sales activity plunged by 21.7% in Q3-20
14 October 01:00 PM Dubai records 50% QoQ higher property sales volume in Q3-20
UAE - Mubasher: Dubai's property sales volume increased by 50% during the third quarter (Q3) of 2020, when compared to the second quarter (Q2) of 2020, as shown by the latest report by Chestertons, an international residential property specialist. …
Zada units are valued at AED 699,999
11 October 10:36 AM Damac awards AED 181m contract to Trans Emirates Contracting
Dubai – Mubasher: DAMAC Properties has awarded Trans Emirates Contracting an AED 181 million contract to start the construction of Zada, a 26-storey building located in the Business Bay. Damac is launching Zada project amid the challenges facing …
These four assets have recent leases on five-year terms or more
7 October 11:10 AM ENBD REIT renews leases for largest tenants
UAE - Mubasher: ENBD REIT has renewed lease agreements for tenants in its largest real estate assets, including Oracle, according to a press release on Wednesday. With a total value of AED 865 million as of 30 June 2020, Al Thuraya Tower 1, Burj …
The development has recorded sales valued at over EUR 40m
6 October 09:39 AM Shuaa Capital's unit completes mixed-use development project in London
Dubai – Mubasher: UK-based property developer Northacre, one of the subsidiaries of Shuaa Capital, has completed the construction of The Broadway, one of the largest projects in Central London. The company celebrates the completion of the final …
Dubai saw 3,720 mortgage transactions
1 October 04:59 PM Dubai sees 56% higher property sale transactions in Q3-20
UAE - Mubasher: Dubai's total property sale transactions surged by 55.76% to 8,727 in the third quarter (Q3) of 2020, compared to the second quarter (Q2) of 2020. The total value of Dubai's property sales recorded AED 18.376 billion in Q3-20, up …
The board has also agreed on the acquisition of an investment property in Business Bay
30 September 10:00 AM Union Properties approves AED 400m offer for acquiring stake in Dubai Autodrome
Dubai – Mubasher: The board of Union Properties has agreed on the offer proposed to acquire a 40% stake in Dubai Autodrome's share capital worth AED 400 million. During a meeting held on Tuesday, 29 September, the board has also agreed on the …
The company's sales reached AED 586 million in 9M
28 September 12:53 PM Reportage Properties' sales exceed AED 237m in Q3-20
UAE – Mubasher: The UAE developer Reportage Properties saw more than AED 237 million sales during the third quarter (Q3) of 2020, according to the latest data by the company. During the first nine months of 2020, the company's sales reached …
Al Thuraya Tower 1 represents 20% of ENBD REIT’s total portfolio
22 September 10:34 AM ENBD REIT appoints Savills, Bluehaus to upgrade portfolio's largest asset
UAE – Mubasher: ENBD REIT, a Shari’a compliant real estate investment trust, has appointed Savills and Bluehaus Group to upgrade its largest asset Al Thuraya Tower 1, located in Dubai Media City. In the refurbishment programme for the building, …
Rukan Tower provides 488 residential units
21 September 01:10 PM Reportage Properties launches Rukan Tower in Dubailand
UAE - Mubasher: Reportage Properties, Abu Dhabi-based real estate development company, has launched 'Rukan Tower', which is the second phase of the Rukan loft project in the Dubailand area. The Rukan loft project is being implemented in …
Musharaka Capital is the representative of the Fund
21 September 10:36 AM DMCC completes AED 46m real estate transaction with Saudi Musharaka Capital
UAE – Mubasher: Dubai Multi Commodities Centre (DMCC) has completed a real estate transaction for Saudi Arabia-based Musharaka REIT Fund at a total value of AED 46 million ($12.6 million). As a fund Manager for Musharaka REIT, Musharaka Capital is …
The project is being implemented in collaboration with ADHA
20 September 12:37 PM Musanada completes 50% of infrastructure project in Al Ain
UAE – Mubasher: Abu Dhabi General Services Company, Musanada, has completed around 50% of the AED 97.5 million infrastructure project in Ghanima, east of Al Ain city, according to the Emirates News Agency (WAM). To be delivered in the second …
The findings focus on the COVID-19 impact on the real estate sector
15 September 01:09 PM UAE's real estate industry expected to grow 3.8% in 2021
UAE - Mubasher: The UAE construction sector is forecast to witness a 3.8% growth in 2021, as shown by the latest Middle East construction industry findings by Linesight, an international construction consultancy. The findings focus on the COVID-19 …
Sakany is featured with leisure facilities
13 September 04:22 PM Dubai South invests AED 500m in Sakany staff accommodation
UAE - Mubasher: Dubai South Properties has invested AED 500 million in its first leasehold staff accommodation development (Sakany), according to the Emirates News Agency (WAM). Sakany is featured with leisure facilities and well-equipped medical …
The real estate company has recently launched "MAG City" projec
10 September 03:26 PM MAG Development to concentrate 95% of investments in Dubai
UAE - Mubasher: MAG Development has decided to focus 95% of its investments in Dubai, expressing optimism about the future of investments in Dubai's real estate sector. The real estate development arm of MAG Holding Group will benefit from …
The partnership will enable ADNOC to benefit from the assets' rental income
2 September 09:55 AM ADNOC attracts AED 10bn foreign investments to UAE
UAE - Mubasher: The Abu Dhabi National Oil Company (ADNOC) has reached a long-term strategic agreement with entities owned and/or advised by New York-headquartered Apollo Global Management and its subsidiaries. Under the agreement, a consortium of …
Photo Archive
1 September 10:58 AM Emaar The Economic City signs share subscription deal with PIF
Riyadh – Mubasher: Emaar The Economic City has entered into a share subscription agreement with Dayim Modern Real Estate Management Company, ME Royal Capital LLC, ME Partners Capital LLC, ME Strategic Investments LLC, ME Holdings LLC, Emaar Middle …
The Antara residential community development
1 September 10:32 AM Gulf Related opens Antara residential development in Diriyah for SAR 1bn
Riyadh – Mubasher: Gulf Related has inaugurated on Tuesday Antara, the new sophisticated residential community development in the prestigious Diriyah area in north-western Riyadh. Comprised of 520 units, the residential development is valued at …
MAG City Project is one of the group's most important projects in Dubai
17 August 04:16 PM MAG Real Estate sells first batch villas at MAG City project
UAE - Mubasher: MAG Real Estate Development has sold all villas at the first batch of MAG City project, reflecting the group's commitment to offering the best investment options. MAG City Project is one of the group's most important projects set …
EBITDA slid by 54% to AED 665m in H1-20
11 August 03:22 PM Emaar Malls' net profits slid 69% in H1-20
Dubai – Mubasher: The net profits of Emaar Malls, majority-owned by Emaar Properties, plunged by 69% to AED 345 million in the first half (H1) of 2020 from AED 1.130 billion in the corresponding half of 2019. The company's revenues reached AED …
The company's revenues decreased to AED 387m
11 August 10:12 AM Arkan profits down to AED 2m in H1-20
Abu Dhabi – Mubasher: The consolidated financial results of Arkan Building Materials Company showed AED 2.1 million net profits in the first six months of 2020, down from AED 8.5 million in the corresponding period of 2019. The company's revenues …
The agreement will enhance the group's debt profile
10 August 09:27 AM Union Properties partners with Emirates NBD for debt restructuring
Dubai – Mubasher: Union Properties has entered into an agreement with Emirates NBD to fully restructure its existing AED 946 million debt with the bank and pay the initial amount as per new terms. This move will enable the group to significantly …
The company completed a three-year strategic plan
9 August 11:38 AM Union Properties to launch 'Motor City' project in 2021
Dubai – Mubasher: Union Properties will launch a new project 'Motor City Hills' during the first quarter (Q1) of 2021, according to the company's disclosure to Dubai Financial Market (DFM) on Sunday. The project is part of the company's three-year …
The EPS stood at AED 0.013 in H1-20
9 August 09:30 AM RAK Properties's net profits record AED 27m in H1-20
Abu Dhabi – Mubasher: The consolidated interim financial results of RAK Properties registered net profits of AED 26.73 million in the first half (H1) of 2020, compared with AED 16.23 million in the same period of 2019. The company's revenues …