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The company has generated revenues of AED 243.5m in 2020
21 February 10:31 AM RAK Properties registers 22% higher profits in 2020
Abu Dhabi – Mubasher: The net profits of RAK Properties jumped by 22% to AED 113.522 million in 2020 from AED 93.137 million in 2019, according to the company's financial results for 2020. The company has generated revenues of AED 243.499 million …
The company's revenues decreased to AED 412.859m in 2020
21 February 09:37 AM Deyaar logs AED 217m net losses in 2020
Dubai – Mubasher: Deyaar Development has logged net losses attributable to the owners of AED 216.923 million in 2020, against net profits of AED 71.537 million in 2019. The company's revenues decreased to AED 412.859 million in 2020 from …
The two JVs will offer integrated facilities management and community management services
18 February 12:19 PM Al Ahly Sabbour, Eltizam launch two JVs worth EGP 2bn
Cairo – Mubasher: Egypt’s real estate developer Al Ahly Sabbour and UAE’s Eltizam Asset Management Group announced the launch of two joint ventures (JVs) Tafawuq Egypt and Three60 Egypt with a total value of EGP 2 billion. The two JVs will offer …
Abu Dhabi recorded 19,000 executed transactions in 2020
18 February 10:27 AM Abu Dhabi's real estate transactions hit AED 74bn in 2020
UAE - Mubasher: The total value of Abu Dhabi's real estate transactions reached AED 74 billion in 2020, up 28% compared to AED 58 billion in 2019, according to the Emirates News Agency (WAM). Last year, Abu Dhabi recorded 19,000 executed …
Dubai's secondary market transacted 2,373 properties
17 February 01:08 PM Dubai's real estate market sees 15.5% YoY higher sales transactions in January 2021
UAE - Mubasher: Dubai recorded 3,300 sales transactions worth AED 6.74 billion in its real estate market in January 2021, up 15.5% year-on-year (YoY) in terms of the number of transactions and 37% in terms of the value. The number of transactions …
Renovations in the mall will be complete within 18 months
15 February 05:41 PM Al Futtaim plans EGP 2.2bn investments in Egypt over two years
By: Abdullah Bedeir Cairo – Mubasher: Group Director of Al-Futtaim Malls Timothy Earnest said that the group aims to invest EGP 2.2 billion in Cairo Festival City Mall in eastern Cairo during 2021 and 2022. The investments include EGP 2 billion …
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15 February 12:36 PM Union Properties turns profitable in 2020
Dubai – Mubasher: Union Properties moved to net profits of AED 200.99 million last year, against net losses of AED 224.3 million in 2019. Revenue of the real estate developer fell to AED 375.9 million in 2020 from AED 423.4 million a year earlier, …
The group's revenues rose by 17% YoY in 2020
14 February 05:05 PM Aldar Properties announces decline in net profits in 2020; dividends proposed
Abu Dhabi – Mubasher: The consolidated financial results of Aldar Properties registered net profits attributable to the owners of AED 1.932 billion in 2020, down from AED 1.984 billion in 2019. The group's revenues rose by 17% to AED 8.392 billion …
The company generated revenues of AED 9.758bn last year
14 February 03:25 PM Emaar Development's net profits slid to AED 1.657bn in 2020
Dubai – Mubasher: The 2020 preliminary financial results of Emaar Development decreased to AED 1.657 billion in 2020 from AED 2.7 billion in 2019. The company generated revenues of AED 9.758 billion last year, down from AED 12.746 billion in 2019, …
Emaar saw AED 10.902bn in overall property sales
14 February 03:03 PM Emaar Properties witnesses lower profits in 2020
Dubai – Mubasher: The net profits of Emaar Properties plunged to AED 2.617 billion in 2020, compared to AED 6.2 billion in 2019, as per the company's preliminary results of fiscal year 2020. The company's revenues recorded AED 19.71 billion last …
The company generated revenues of AED 4.7bn in 2020
14 February 09:42 AM Damac Properties sees higher losses in 2020 amid COVID-19
Dubai – Mubasher: DAMAC Properties incurred AED 1.039 billion net losses in 2020 preliminary financial results, compared to AED 37 million in 2019.  The coronavirus (COVID-19) pandemic, lockdown, travel restrictions, and the plunge in global …
The company is also expected to generate a diversified revenue stream
11 February 03:09 PM Aldar Estates acquires Asteco Property Management
Abu Dhabi – Mubasher: Aldar Estates, a subsidiary of Aldar Investment, has acquired Asteco Property Management, a real estate services company, and all its branches in Abu Dhabi and Dubai. The acquisition will enable Aldar Estates to expand its …
The company generated revenues of AED 3.508bn in 2020
10 February 04:44 PM Emaar Malls registers 69% lower profits in 2020
Dubai – Mubasher: The net profits of Emaar Malls, majority-owned by Emaar Properties, slid by 69% to AED 704 million in 2020, compared to AED 2.286 billion in 2019. The company generated revenues of AED 3.508 billion in 2020, down 25% from AED …
The value of the property portfolio decreased to $366m
4 February 10:20 AM ENBD REIT reports $184m NAT as at 31 December 2020
UAE - Mubasher: ENBD REIT has recorded a net asset value (NAT) of $184 million as at 31 December 2020, down from $246 million in December 2019. Lower net asset value is mainly attributed to market valuation pressure, according to a press release …
Villa sales prices in the emirate retreated by 3.6% YoY
1 February 04:11 PM Dubai registers 35.5% higher residential property sales in H2-20
UAE - Mubasher: The total value of completed residential property sales in Dubai jumped by around 35.5% to AED 21.67 billion in the second half (H2) of 2020 from AED 15.99 billion in the same period of 2019, according to Chestertons. …
The project has 478 apartments and 12 retail spaces
19 January 03:16 PM Deyaar hands over Bella Rose Project in Dubai
Dubai – Mubasher: Deyaar Development has begun handing over the Bella Rose residential project, the company's second project in Dubai Science Park. The project has 478 apartments and 12 retail spaces to serve the residents and the surrounding …
The project will include 100 residential plots
13 January 11:44 AM Ithmaar Holding partners with Naseej to develop BHD 40m residential project
Mubasher: The Bahrain-based Ithmaar Holding has reached an agreement with Naseej to establish a BHD 40 million residential project in the northern governorate area of Barbar. Spanning over around 150,000 square metres, the project will include 100 …
Seven Palm has attracted $125.5 million investments
11 January 12:46 PM UAE's Seven Tides registers $152m sales in Golf Views, Seven Palm
UAE - Mubasher: The UAE-headquartered property developer Seven Tides has achieved total annual sales of $152 million in its two developments, Golf Views Seven City and Seven Palm, in 2020. Located on The Palm Jumeirah, Seven Palm has attracted …
The real estate developer has reached a new Islamic loan agreement
11 January 11:51 AM Sharjah's Arada sees 35% higher sales in 2020; secures new loans
UAE - Mubasher: Sharjah-based property developer Arada recorded a 35% year-on-year (YoY) rise in the value of real estate sales to AED 1.75 billion in 2020. The strong sales performance of Arada is attributed to a large number of project handovers …
A European fund buying the Sky View tower for AED 750 million
6 January 11:19 AM Emaar Properties announces sale of Sky View hotel
Dubai – Mubasher: Emaar Properties announced the disposal of the entire stake of the subsidiary ASV Group Limited, owner of Sky View hotel, 169 Keys, and its operations. The real estate developer signed the hotel management agreement and will keep …
The surge in the number of sales reflects the company's strong performance
3 January 10:36 AM Reportage Properties sees 125% higher sales in 2020
UAE - Mubasher: The UAE developer Reportage Properties has achieved AED 812 million sales in 2020, up 125% from AED 362 million in 2019, according to a recent press release. The surge in the number of sales reflects the company's strong …
The rental yield in Dubai increased by 6.6% in Q3-20
23 December 2020 00:59 PM Dubai sees 1% YoY lower residential property prices in Q3-20
UAE - Mubasher: Dubai's residential property prices decreased on average by 0.9% year-on-year (YoY) during the third quarter (Q3) of 2020. Dubai saw a 6.9% YoY decline in its rents in Q3-20, according the quarterly review of the Central Bank of …
Sajwani has been supporting the decision to temporarily stop construction in Dubai
22 December 2020 11:36 AM Dubai’s real estate sector to face challenges in 2021 – Damac Chairman
Dubai – Mubasher: The real estate sector in Dubai will face challenges in the upcoming year, the Chairman of DAMAC Properties, Hussain Sajwani, told Bloomberg TV. Sajwani warned that the real estate market, which already has a property glut, would …
The real estate developer offers around 4,000 housing units
14 December 2020 02:16 PM Reportage Properties launches new logo to reflect growth, future expansion plans
UAE - Mubasher: The UAE developer Reportage Properties launched a new logo, highlighting the growth of the company's businesses and its future plans for expansion in the upcoming years. The real estate developer offers around 4,000 housing units …
The Company has achieved profits of KWD 150,000 from the transaction
10 December 2020 03:44 PM National International Holding's unit sells property for KWD 2m
Mubasher: One of the wholly-owned subsidiaries of National International Holding Company has completed a real estate sale transaction at a total value of KWD 2.25 million ($7.4 million). The property was among the investment properties owned by …