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12 June 08:49 AM UAE Cabinet passes new housing decisions for citizens at AED 1.6bn
UAE – Mubasher: The UAE Cabinet approved 2,160 new housing decisions for citizens valued at AED 1.68 billion, according to the Emirates News Agency (WAM). These decisions aim to achieve social stability in line with the UAE's ongoing policies to …
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6 June 01:50 PM Dubai Investments’ EBS secures project contracts worth AED 225m
Dubai – Mubasher: Emirates Building Systems (EBS), a wholly-owned subsidiary of Dubai Investments, has secured major contracts exceeding a value of AED 225 million, according to a press release. The new projects include Advanced Manufacturing …
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4 June 11:07 AM Manazel eyes capital raise to boost expansion plans
Abu Dhabi – Mubasher: The ordinary general meeting (OGM) of Manazel greenlighted a capital hike to AED 3.12 billion from AED 2.60 billion, according to a press release. The ADX-listed firm will issue bonus shares amounting to AED 500 million at a …
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4 June 09:20 AM Emaar expands Dubai Mall via AED 1.5bn investments
Dubai – Mubasher: Emaar Properties has unveiled AED 1.50 billion investment to expand Dubai Mall, according to a press release. Dubai Mall will include 240 new stores and food and beverage outlets, offering innovative experiences while meeting …
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28 May 03:57 PM Dubai Industrial City boosts regional presence via AED 410m land capacity expansion
Dubai – Mubasher: Dubai Industrial City, part of Tecom Group, has officially launched 13.90 million sq.ft of additional land capacity within its ecosystem, according to a press release. The additional land capacity was acquired through a AED 410 …
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27 May 12:41 PM UAE-based Holo raises fund to expand in Saudi Arabia
UAE – Mubasher: Holo, a direct mortgage platform in the UAE, has completed a pre-Series A funding round with oversubscription.  The round was led by Dubai Future District Fund (DFDF), UK’s Oryx fund, and Aditum Investment Management., according to …
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27 May 11:14 AM Plaza Premium Group announces $100m expansion plans in Middle East
Mubasher: Plaza Premium Group (PPG) has invested $100 million to expand its presence in the Middle East with a major focus on Saudi Arabia. This investment aims to anchor the group’s role as a connector between the Middle East and popular global …
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27 May 10:58 AM UAE’s Nakheel awards construction contracts for Palm Jebel Ali mega development
UAE – Mubasher: Nakheel, the development arm of Dubai Holding, has awarded contracts for the construction of infrastructure at Palm Jebel Ali. Nakheel awarded a contract for the construction of a public access road, providing access from Sheikh …
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22 May 03:46 PM Aldar, Dubai South join forces to build facility for Kuehne+Nagel
Abu Dhabi – Mubasher: Aldar Properties and Dubai South teamed up to create a facility for Kuehne+Nagel, one of the world's leading logistics providers, at EZDubai, according to a press release.  Located close to Al Maktoum International Airport, …
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21 May 03:40 PM Orascom Construction logs $50m consolidated profits in Q1-24
Cairo – Mubasher: Orascom Construction recorded an annual leap in consolidated net profit to $49.80 million during the first quarter (Q1) of 2024, compared to $40.10 million. Revenues dropped by 4.80% year-on-year (YoY) to $766.30 million in Q1-24 …
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15 May 01:30 PM Emaar Development posts 50% hike in Q1-24 property sales
Dubai – Mubasher: Emaar Development achieved a 50% leap in property sales to AED 12.90 billion ($3.50 billion) in the first quarter (Q1) of 2024, versus AED 8.60 billion ($2.30 billion) in Q1-23. The real estate developer successfully launched 10 …
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15 May 12:30 PM Union Properties logs AED 16.5m net profits in Q1-24
Dubai – Mubasher: Union Properties generated net profits after tax worth AED 16.47 million in the first quarter (Q1) of 2024, up year-on-year (YoY) from AED 12.29 million. Revenues from contracts with customers jumped to AED 138.11 million in …
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15 May 10:57 AM Deyaar logs AED 73m net profits in Q1-24; revenues rise 5%
Dubai – Mubasher: The net profits after tax of Deyaar Development amounted to AED 72.96 million in the first quarter (Q1) of 2024, an annual hike from AED 56.35 million. The DFM-listed company posted revenues valued at AED 327.84 million in Q1-24, …
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15 May 10:14 AM Emaar achieves its highest quarterly property sales in Q1-24
Dubai – Mubasher: Emaar Properties delivered resilient performance and operational efficiency across its various businesses during the first quarter (Q1) of 2024, according to a press release. The revenues stood at AED 6.70 billion ($1.80 billion) …
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9 May 03:48 PM Rak Properties unveils AED 41.5m net profits in Q1-24
Abu Dhabi – Mubasher: Rak Properties posted lower net profits after tax at AED 41.45 million in the first quarter (Q1) of 2024, compared to AED 44.60 million in Q1-23. Meanwhile, the revenues increased to AED 289.81 million in Q1-24 from AED …
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7 May 12:17 PM DAMAC Properties expands in Beijing, Singapore
UAE - Mubasher: DAMAC Properties has inaugurated new offices in Beijing and Singapore. The new openings come in line with the company’s commitment to investment and expansion in the Asia–Pacific region (APAC), according to a press release. Abbas …
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29 April 10:40 AM Aldar sees 88% higher net profits in Q1-24
Abu Dhabi – Mubasher: The net profits after tax of Aldar Properties amounted to AED 1.57 billion in the first quarter (Q1) of 2024, higher by 88% than AED 835.79 million in Q1-23. Revenue and rental income amounted to AED 5.61 billion in the …
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24 April 01:50 PM ARA Real Estate unveils AED 22bn project in Abu Dhabi
UAE – Mubasher: ARA Real Estate Development, a subsidiary of Core Holding, has revealed an AED 22 billion gated community project in Abu Dhabi. Named Arabian Hills Estate, the project is planned to be built on 244 million square feet, according to …
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23 April 12:26 PM Emaar Properties’ AGM approves high dividends of AED 4.4bn for 2023
Dubai – Mubasher: The annual general meeting (AGM) of Emaar Properties approved a cash dividend of 50 fils per share amounting to AED 4.40 billion ($1.20 billion) for 2023. The cash dividends align with the company's profitability and commitment …
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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 …
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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 …