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The selected startups will be awarded pilot projects with Aldar
5 May 01:48 PM Aldar selects three global PropTech startups for Scale Up accelerator programme
Abu Dhabi – Mubasher: Aldar Properties has selected three PropTech startups from three different countries as part of the inaugural Aldar Scale Up accelerator programme, which aims to support international businesses with the latest cutting-edge …
The value of real estate sales neared AED 5 billion
4 May 12:47 PM Abu Dhabi's real estate transactions hit AED 11.5bn in Q1-21
UAE - Mubasher: The total value of real estate transactions in Abu Dhabi amounted to AED 11.5 billion during the first quarter (Q1) of 2021, according to a recent report by the Abu Dhabi Department of Municipalities and Transport (DMT). …
Fifth Wall is the world's largest venture capital company specialising in property technology
3 May 01:26 PM Aldar invests in Fifth Wall's European property technology fund
Abu Dhabi – Mubasher: Aldar Properties has partnered with Fifth Wall, the largest property technology venture capital firm in the world, to invest in the European Real Estate Technology Fund. The real estate developer is the first limited partner …
Revenues surged to AED 124.29 million in the January-March period
3 May 10:38 AM RAK Properties reports 433% higher profit in Q1-21
Abu Dhabi – Mubasher: RAK Properties achieved net profits of AED 64.13 million in the first quarter (Q1) of 2021, up by 433% year-on-year (YoY) from AED 12.04 million, the unaudited financial results showed. The real estate developer’s revenues …
Dubai saw a 23% monthly growth in the number of property transactions
25 April 02:30 PM Dubai sees 4,643 real estate sales transactions in March 2021
UAE - Mubasher: Dubai recorded 4,643 real estate sales transactions worth AED 10.93 billion in March 2021, reflecting the highest number of property transactions in 16 months. The emirate saw a 23% month-on-month (MoM) growth in the number of …
Sky Abu Dhabi launched its first project in the New Administrative Capital
20 April 03:54 PM GAFI explores investment opportunities with Sky Abu Dhabi
Cairo – Mubasher: The Executive Director of the Egyptian General Authority for Investment and Free Zones (GAFI), Mohamed Abdel Wahab, met with officials of major UAE companies to explore means of cooperation in investment. Saleh Mohammed Bin …
Dubai’s residential net yields averaged 6.1%
19 April 10:23 AM Dubai sees quarterly improvements in residential capital value in Q1-21
UAE - Mubasher: Dubai's real estate market witnessed quarterly improvements in the residential ValuStrat Price Index (VPI), which tracks the change in capital values for a representative fixed basket of properties, during the first quarter (Q1) of …
The Aldar-led alliance offered to acquire at least 51% of SODIC
15 April 12:03 PM SODIC hires financial advisors to study acquisition offer by Aldar Properties
Cairo – Mubasher: The board of directors of Six of October Development and Investment (SODIC) approved the appointment of EFG Hermes and an international investment bank as financial advisors to study the preliminary acquisition offer submitted by …
This step follows the major acquisitions of neo capital in 2020
13 April 11:26 AM Dubai's neo capital implements $73m JV acquisition of property in US
UAE - Mubasher: neo capital, based in Dubai International Financial Centre (DIFC), has secured a joint venture (JV) acquisition of Harbor Landing at a total value of $73 million (AED 268 million) to promote its global asset portfolio in the US. …
The value of the transaction represents 5.79% of the ADNTC's capital
8 April 01:07 PM ADNTC signs deal to buy AED 6m commercial real estate in Dubai
Abu Dhabi – Mubasher: Abu Dhabi National Takaful Company (ADNTC) has inked an agreement to purchase commercial real estate in the Regal Tower in Business Bay in Dubai at a total value of AED 5.798 million. The value of the transaction represents …
Revenues grew to $3.371 billion in 2020
25 March 10:54 AM Orascom Construction logs $97m profit, $5.4bn backlog in 2020; dividends proposed
Cairo – Mubasher: Orascom Construction Plc reported consolidated net profits of $97.1 million in 2020, down by 26% year-on-year (YoY) from $131.1 million, including minority shareholders’ rights. The net profits attributable to the owners of the …
A total of 67% of overall transactions were for the secondary and ready properties
21 March 12:14 PM Dubai's real estate market sees 14% higher number of sales transactions in February
UAE - Mubasher: Dubai recorded 3,787 sales transactions worth AED 7.43 billion in the real estate market in February 2021, up 13.8% in terms of volume and 8.9% in terms of value from January 2021. The total number of sales transactions in Dubai's …
The shareholders will consider not to distribute cash dividends
17 March 12:35 PM Emaar Development’s OGM considers withholding dividend distribution
Dubai – Mubasher: The shareholders of Emaar Development, a subsidiary of Emaar Properties, will consider not to distribute cash dividends. Withholding cash dividend distribution, proposed by the company’s board, will be discussed during the …
The project has a total investment of AED 600 million
16 March 01:09 PM Binghatti Avenue to be delivered in Q1-22
Dubai - Mubasher: Binghatti Developers is set to deliver the second phase of the Binghatti Avenue project about one year ahead of schedule, according to a press release on Tuesday. With investments of AED 600 million, Binghatti Avenue is located …
Nakheel's deal could be valued at around AED 1 billion
15 March 12:06 PM Dubai's Nakheel considers selling district cooling assets
UAE - Mubasher: Nakheel Properties, the developer of Dubai's palm-shaped islands, is studying the sale of its district cooling assets amid the coronavirus (COVID-19) economic repercussions, three sources told Reuters. Nakheel has appointed Synergy …
The potential transaction will be executed by Aldar-led consortium
14 March 11:28 AM Aldar offers to acquire majority stake in EGX-listed SODIC
Mubasher: Aldar Properties has submitted a preliminary non-binding offer to acquire a majority stake in Six of October Development and Investment (SODIC), an Egyptian real estate company. The potential transaction will be executed by a consortium …
The total number of year-to-date transactions increased to 7,109
9 March 11:10 AM Dubai sees 16% MoM higher transactions in property market
UAE - Mubasher: Dubai's property market recorded a 15.6% month-on-month (MoM) rise in the volume of transactions during February 2021 to 3,814 transactions, when compared to January.  These transactions are valued at AED 7.43 billion last month, …
Villa sales prices and rental rates have risen at the end of 2020
8 March 01:51 PM UAE’s real estate sector demonstrates resilience amid COVID-19
UAE - Mubasher: The UAE’s real estate sector has demonstrated resilience in facing the coronavirus (COVID-19) economic repercussions, according to Asteco, the property management company acquired by Aldar Estates in early 2021. In Q4 2020 UAE Real …
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, …