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13 August 11:50 AM

Real Estate

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 …
Financial Results
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 …
Real estate
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 …
Banking and Finance
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 …
Companies Investments
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 …
Financial Results
The East Village project
3 August 01:08 PM Arada awards AED 423m contract to build phase 2 of Aljada’s megaproject
Abu Dhabi – Mubasher: Arada has awarded a major contract to build East Village, the second phase of Sharjah’s AED 24 billion mixed-use district, Aljada, to Best Building Contracting Company. Valued at AED 423 million, the full contract involves …
Real estate
Sharjah recorded 1,166 mortgage transactions
29 July 12:55 PM Sharjah posts AED 6.2bn real estate transactions in H1-20
UAE - Mubasher: The total number of Sharjah's real estate transactions increased by 4.1% to 28,710 at a total value of AED 6.2 billion in the first half (H1) of 2020, when compared to the same period of 2019, Emirates News Agency (WAM) reported. …
Real estate
The company is establishing eight projects in the UAE
26 July 01:12 PM Reportage to complete three projects in Abu Dhabi in 2021
UAE – Mubasher: The UAE developer Reportage Properties will hand over three projects in Abu Dhabi in 2021 with 900 housing units. The CEO of Reportage Group, Nasser Al Khamis, announced that the company has achieved great progress in the …
Companies Investments
Sales volumes are expected to rise in H2-20
23 July 09:49 AM Abu Dhabi's real estate selling prices fall in Q2-20
UAE - Mubasher: The sales and rent prices in Abu Dhabi's real estate sector witnessed a decrease during the second quarter (Q2) of 2020, with the average selling prices of apartments decreasing by 1.4% and by 1.3% for villas on a quarterly basis. …
Real estate
The COVID-19 impact will be less severe on Abu Dhabi's real estate sector
20 July 11:53 AM UAE real estate companies hit by COVID-19, oil prices - Moody's
UAE - Mubasher: The coronavirus (COVID-19) outbreak and lower oil prices will have a heavy impact on the credit quality of the UAE's real estate companies, Moody's Investors Service said in a report. In Dubai, the real estate sector will be the …
Macroeconomics
The number of residential transactions in Dubai dipped by 40% YoY
15 July 11:34 AM Dubai's real estate sector sees 40% YoY lower transactions in Q2-20
UAE - Mubasher: The number of residential unit transactions in Dubai dipped by 40% year-on-year (YoY) to 5,233 during the second quarter (Q2) of 2020, when compared to the same period of 2019. The decline in Dubai's residential transactions is …
Real estate
The group has developed eight projects in the UAE
5 July 09:42 AM Reportage Properties records AED 402m sales in H1-20
UAE - Mubasher: The UAE-based Reportage Properties saw AED 402 million sales during the first half (H1) of 2020, up by 200% from AED 137 million in the same period of 2019. The CEO of Reportage Group, Nasser Al Khamis, said that the surge in the …
Real estate
The department is implementing precautionary measures
7 June 12:19 PM Dubai records AED 20bn real estate transactions in Q1-20
UAE – Mubasher: Dubai Land Department (DLD) has recorded AED 20 billion worth of real estate transactions during the first three months of 2020 amid the economic consequences of coronavirus (COVID-19). The DLD completed around 100,000 electronic …
Sector Reports
The company is setting up eight projects in Abu Dhabi, Dubai
7 June 11:36 AM Reportage Properties' projects on progress despite COVID-19
UAE - Mubasher: Abu Dhabi-headquartered Reportage Properties is implementing the construction works of its projects in Abu Dhabi and Dubai according to the specified schedule despite the coronavirus (COVID-19) challenges. Setting up six projects …
Companies Investments
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 …
Financial Results
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 …
Real estate
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 …
Real estate
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 …
Real estate
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 …
Real estate
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