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26 March 11:10 AM Dubai Investments’ real estate unit launches AED 300m residential project
Dubai – Mubasher: Dubai Investments Real Estate (DIR), the real estate arm of Dubai Investments, has launched an AED 300 million residential project in Dubai’s Jumeirah Village Circle (JVC). Named Violet Tower, the residential project features a …
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18 March 10:55 AM Aldar Properties sells Abu Dhabi’s most expensive apartment
Abu Dhabi – Mubasher: Aldar Properties has announced selling the most expensive apartment in Abu Dhabi for AED 137 million, or AED 96,000 per square meter. The sold unit is a three-bed penthouse at Nobu Residences on Saadiyat Island, according to …
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17 March 02:37 PM Union Properties incurs AED 2.1bn accumulated losses
Dubai – Mubasher: The accumulated losses of Union Properties reached AED 2.10 billion at the end of the fourth quarter (Q4) of 2023, accounting for 49.08% of the firm’s capital. The losses are mainly attributed to a fair value loss of AED 2.07 …
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17 March 12:33 PM Emaar Development’s board mulls AED 2bn dividends for 2023
Dubai – Mubasher: The board members of Emaar Development approved cash dividends valued at AED 2.08 billion for 2023, according to a bourse filing. The company will disburse a dividend of 52 fils per share, which is still subject to the approval …
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11 March 06:35 PM IL Cazar launches The Crest upon collaboration with Emirati UDC, EGP 30bn investment
Cairo – Mubasher: Egyptian real estate company IL Cazar has unveiled its latest residential venture under the name The Crest, which marks the first collaboration with the UAE’s UDC Real Estate Development, the subsidiary of Mohammad Omar bin …
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6 March 12:42 PM Deyaar to disburse cash dividend for 1st time
Dubai – Mubasher: The board members of Deyaar Development approved cash dividend distribution for the first time in the company's history, according to a press release. The board recommended distributing 4% of the share capital as dividend, which …
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28 February 09:57 AM Q Holding takes over ADNEC; rebranding unveiled
Abu Dhabi – Mubasher: Q Holding acquired more than 100% of the share capital for Abu Dhabi National Exhibitions Company (ADNEC), according to a press release. The ADX-listed firm reinforced its position in Abu Dhabi’s real estate market by …
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26 February 12:30 PM Union Properties earns AED 500m from land sale
Dubai – Mubasher: Union Properties sold over AED 500 million worth of land, which reflects a significant milestone in the company’s turnaround strategy. This aligns with the company’s strategy to maximise shareholder value and capitalise on …
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25 February 10:10 AM Abu Dhabi-based ADQ to invest $35bn in Egypt’s Ras El-Hekma
Mubasher: Abu Dhabi-based investment and holding firm ADQ signed an agreement to invest $35 billion in Egypt’s Ras El-Hekma, according to a recent press release. Under the joint deal, ADQ will acquire the development rights for Ras El-Hekma in …
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15 February 04:27 PM Union Properties generates AED 811m profits in 2023
Dubai – Mubasher: Union Properties logged net profits standing at AED 811 million in 2023, marking an annual growth of 60% in operating profits and 2,607% in net profits. The company’s subsidiaries also witnessed solid performance, with revenues …
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13 February 01:58 PM Rak Properties logs higher profits in 2023; dividends, capital hike proposed
Abu Dhabi – Mubasher: Rak Properties generated AED 201.81 million in net profit during 2023, compared to AED 30.78 million in 2022, according to the consolidated financial results. Revenues hiked to AED 1 billion last year from AED 408.21 million …
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11 February 05:02 PM Emaar Properties logs 70% higher profits at AED 11.6bn in 2023
Dubai – Mubasher: Emaar Properties generated revenues of AED 26.70 billion ($7.30 billion) in 2023, marking a 7% year-on-year (YoY) growth. The company logged and net profit valued at AED 11.60 billion ($3.20 billion) as of 31 December 2023, …
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11 February 02:42 PM Emaar Development’s property sales leap to AED 37.4bn in 2023
Dubai – Mubasher: Emaar Development posted a 22% year-on-year (YoY) surge in property sales to AED 37.40 billion ($10.20 billion) during January-December 2023, versus AED 30.70 billion ($8.40 billion). The DFM-listed firm attributed the solid …
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11 February 10:45 AM Aldar’s profits to shareholders hit AED 3.9bn in 2023
Abu Dhabi – Mubasher: The net profits attributable to the owners of Aldar Properties hiked to AED 3.92 billion in 2023 from AED 2.94 billion in 2022. Revenue and rental income amounted to AED 14.16 billion last year, higher than AED 11.20 billion, …
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8 February 01:59 PM Aldar unveils investment plans in Europe; contracts awards hit AED 22bn in 2023
Abu Dhabi – Mubasher: Aldar Properties teamed up with global investment firm Carlyle to invest  AED 407 million ($111 million) in logistics and storage assets across Europe, according to a press release. Under the partnership, Aldar will have a …
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7 February 04:19 PM UAE’s Jumeirah Group makes hotel debut in Saudi Arabia
UAE – Mubasher: Jumeirah Group, a luxury hotels member of Dubai Holding, has opened its first hotel in Saudi Arabia under the name Jumeirah Jabal Omar Makkah. Situated in Jabal Omar and near the Great Mosque of Makkah, the new hotel boasts …
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6 February 12:28 PM Aldar boosts portfolio via AED 5bn investments in Abu Dhabi
Abu Dhabi – Mubasher: Aldar Properties plans to invest further AED 5 billion to develop a range of income-generating assets within key destinations in Abu Dhabi. The ADX-listed firm noted that the assets will be delivered in a phased manner …
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1 February 10:23 AM El Ebour Real Estate plans to create unit in UAE
Cairo - Mubasher: The board members of El Ebour Real Estate Investment approved, on 30 January 2024, establishing a new subsidiary in the UAE. The EGX-listed firm highlighted that it has been taking the required procedures implemented in the UAE, …
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23 January 01:10 PM DMCC, Danube Properties to launch $545m residential project
UAE – Mubasher: Dubai Multi Commodities Centre (DMCC) has partnered with Danube Properties to set up a new residential project in its Jumeirah Lakes Towers (JLT) district, according to a press release. The 65-storey twin towers will bring 1,200 …
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23 January 10:14 AM Deyaar’s net profits leap 206% in 2023 preliminary results
Dubai – Mubasher: Deyaar Development posted 206% year-on-year (YoY) higher net profits at AED 440.71 million in 2023, compared to AED 144.23 million. Earnings per share (EPS) hit fils 10.07 last year, up from fils 3.30 in 2022, according to the …
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21 January 10:05 AM Azizi Developments unveils $1.5bn tower project
UAE – Mubasher: Azizi Developments, a leading private developer in the UAE, has begun the construction of the second tallest tower at a value of $1.50 billion. Located on a prime plot of land on Dubai’s Sheikh Zayed Road, the project of expected …
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15 January 01:42 PM Deyaar launches 3rd project in Dubai’s Al Furjan community
Dubai – Mubasher: Deyaar Development has launched Rosalia Residences, its third project in Dubai’s Al Furjan community out of a total project portfolio worth AED 300 million. The tower of apartments will further enhance the standard of living …
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10 January 06:07 PM Dubai Investments unveils 1st flagship mixed-use development in Africa
Dubai – Mubasher: Dubai Investments has entered the African markets with its first flagship mixed-use development the Dubai Investments Park (DIP) Angola, according to a press release. Designed in line with the listed firm's criteria, the scheme …
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9 January 01:46 PM Aldar invests AED 1bn in UAE’s logistics real estate business
Abu Dhabi – Mubasher: Aldar Properties pumped investments valued at AED 1 billion to expand its logistics real estate business in Dubai and Abu Dhabi, according to a press release. The ADX-listed company first entered the logistics sector with …
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7 January 01:35 PM DAMAC Properties awards AED 300m works contracts
UAE – Mubasher: Real estate developer DAMAC Properties has awarded the main works package for developments in DAMAC Hills 2 at an estimated value of AED 300 million, according to a press release. The first contract was awarded to the Dubai branch …