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28 November 06:34 PM Nexus endorses UAE economy through launch of Nexus Mortgage Brokers
UAE – Mubasher: The GCC-based financial advisor Nexus Group has launched a fully licensed mortgage entity, dubbed Nexus Mortgage Brokers, to enhance Nexus’s core insurance and financial advisory business. The new financial arm aims to capitalise …
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28 November 10:06 AM Maple Invest acquires 15.6% of Damac's share capital
Dubai – Mubasher: Maple Invest Co has acquired 15.6% of the issued and paid-up share capital in Damac Properties during the offer period by purchasing 943.9 million shares in Damac at a price of AED 1.4 per share. Damac has received from Maple …
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25 November 11:15 AM Dubai’s real estate sales transactions exceed AED13bn in October
UAE – Mubasher: Dubai has recorded 5,352 real estate sales transactions valued at AED 13.12 billion in October 2021, marking the highest October on record for eight years, the Dubai media office reported. These figures were published in the 20th …
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24 November 11:23 AM ENBD REIT records $164m net asset value in H1
UAE – Mubasher: ENBD REIT, a real estate investment trust managed by Emirates NBD Asset Management Limited, has recorded $164 million net asset value (NAV) as of 30 September 2021, down from $180 million at the year ended 31 March 2021. The …
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22 November 09:37 AM Union Properties records lower profits in 9M
Dubai – Mubasher: Union Properties reported a decline in net profits to AED 1.369 million during the first nine months of 2021, compared to AED 348.779 million in the year-ago period, according to the company's unaudited consolidated financials …
The company's revenues hiked by 63%
14 November 04:19 PM Emaar Development's profits surge 75% in 9M
Dubai – Mubasher: The net profits attributable to the owners of Emaar Development climbed by 75% to AED 2.383 billion during the first nine months of 2021 from AED 1.358 billion in the same period of 2020, according to the company's unaudited …
The company generated revenues of AED 19.331 billion
14 November 03:55 PM Emaar Properties' net profits rise 25% in 9M
Dubai – Mubasher: The unaudited interim consolidated financials of Emaar Properties recorded a 25% year-on-year (YoY) increase in net profits attributable to the owners to AED 2.577 billion in the January-September period of 2021, compared to …
The completed property sales accounted for AED 20.63 billion of the total value
10 November 04:21 PM Dubai's residential transactions hit AED 34.11bn in Q3-21
UAE – Mubasher: The total value of residential transactions in Dubai rose by 10% quarter-on-quarter (QoQ) to AED 34.11 billion during the third quarter (Q3) of 2021 from AED 31.02 billion in the second quarter (Q2) of 2020. The findings have …
The revenues increased to AED 3.191 billion
8 November 04:09 PM Emaar Malls reports 83% profit leap in nine months
Dubai – Mubasher: Emaar Malls achieved net profits of AED 1.070 billion during the first nine months of 2021, up by 83% year-on-year (YoY) from AED 586 million.  The revenues increased to AED 3.191 billion in the January-September period of 2021, …
The company's revenues increased to AED 591.16 million
3 November 04:37 PM Arkan's net losses deepen in 9M
Abu Dhabi - Mubasher: Arkan Building Materials Company recorded net losses of AED 29.19 million during the first nine months of 2021, up from AED 3.71 million in the year-ago period. The company's revenues increased to AED 591.16 million in the …
The company generated revenues of AED 6.32 billion
3 November 09:44 AM Aldar sees 28% rise in net profits in 9M
Abu Dhabi – Mubasher: The net profits attributable to the owners of Aldar Properties increased by 28% year-on-year (YoY) to AED 1.536 billion during the Janaury-September period of 2021 from AED 1.209 billion, as shown by the company's interim …
The company's revenues soared to AED 424.37 million
31 October 05:20 PM RAK Properties posts 383% profit hike in nine months
Abu Dhabi – Mubasher: RAK Properties achieved net profits of AED 197.9 million in the first nine months of 2021, a leap of 382.68% year-on-year (YoY) from AED 40.97 million, the unaudited consolidated financial results showed on Sunday. The …
The Manama-based firm acquired the 17-story property in Baltimore
31 October 01:12 PM GFH acquires multifamily residential property in US for $90m
Mubasher: GFH Financial Group has boosted its multifamily residential portfolio in the US after acquiring the third asset, a luxury high-rise in Baltimore, Maryland, for $90 million. The deal diversifies the company's US assets and comes amid …
The integrated urban project is scheduled to be delivered by 2025
28 October 03:43 PM TIJ Contracting to start construction on EGP 12bn project in Mostakbal City
Cairo – Mubasher: TIJ Contracting will start construction works on the Montenapoleone project, owned by Reportage Properties, in April with total investments of EGP 12 billion. Montenapoleone will be established over 111 acres in Mostakbal City in …
The project will include a beachfront resort, serviced apartments
19 October 10:04 AM Dubai Investments to develop AED 1bn beachfront resort, residential development
Dubai – Mubasher: Dubai Investments has inked an agreement with Marjan, a freehold properties developer in Ras Al Khaimah, to purchase land to set up mixed-use beachfront residential, beach resort, and lifestyle destination on Al Marjan Island at …
The project is Dar Al Arkan's first development in the UAE
6 October 01:31 PM Dar Al Arkan partners with Italy's Missoni to develop AED 800m tower in Dubai
Mubasher: Saudi Arabia-based Dar Al Arkan has partnered with the luxury Italian fashion house, Missoni, to develop the Urban Oasis residential tower in Dubai at a total value of AED 800 million. The project is Dar Al Arkan's first development in …
Abu Dhabi has recorded AED 23.57 billion real estate transactions
29 September 03:30 PM Abu Dhabi's real estate transactions hit AED 23.57bn in H1-21
UAE - Mubasher: Abu Dhabi has recorded AED 23.57 billion real estate transactions during the first half (H1) of 2021, the Emirates News Agency (WAM) reported. The Department of Municipalities and Transport (DMT) announced 7,046 transactions, …
Northacre is currently completing two key projects
27 September 09:49 AM Shuaa Capital plans to complete £2bn property projects in London
Dubai - Mubasher: Shuaa Capital has planned to deliver property projects valued at £2 billion in London through its wholly-owned subsidiary Northacre within the upcoming eight months. Northacre is currently completing two projects, comprising No.1 …
Al Hussaini has resigned due to personal reasons
26 September 02:49 PM Emaar Malls' Chairman resigns
Dubai – Mubasher: Emaar Malls has announced the resignation of Mohamed Al Hussaini from his position as Chairman and member of the board. With immediate effect, Al Hussaini has resigned as the company's chairman due to personal reasons, according …
The project's first phase is expected to be completed in August 2024
26 September 10:11 AM Union Properties inks agreement to develop Motor City Hills
Dubai – Mubasher: Union Properties has entered into an investment agreement with AQUA Properties to launch Motor City Hills in Motor City. The region's first of its kind project includes 415 three-story townhouse villas with an area of up to 3,000 …
The shopping centre was sold to one of the real estate developers in Dubai
22 September 10:09 AM Union Properties inks AED 420m MoU to sell shopping centre
Dubai – Mubasher: Union Properties has signed an AED 420 million Memorandum of Understanding (MoU) to exit from the ownership of a shopping centre under construction in Motor City. The shopping centre was sold to one of the real estate developers …
The project features recreational, social, and wellness amenities
20 September 04:41 PM Deyaar appoints contractors to build AED 750m skyscraper
UAE - Mubasher: Deyaar Development has appointed Gulf Asia Contracting, the construction vertical of RP Group, as a contractor to develop an AED 750 million skyscraper, Regalia, in Business Bay. Set to be completed in 2024, the 70-storey luxury …
Expo 2020 Dubai is scheduled to open in October
5 September 09:37 AM Union Properties' unit wins AED 18m contracts to manage Expo 2020 pavilions
Dubai – Mubasher: ServeU, a subsidiary of Union Properties, has won AED 18 million contracts to manage the facilities of 14 pavilions participating at Expo 2020 Dubai, scheduled to open in October. Under the contracts, the company will meet the …
Lower NAV is attributed to continued valuation pressures
24 August 09:36 AM ENBD REIT's net asset value hits $174m in Q1
Dubai - Mubasher: The net asset value (NAV) of ENBD REIT amounted to $174 million during the first quarter (Q1) ended 30 June 2021, down 1% from $180 million in the earlier quarter. Lower NAV is attributed to continued valuation pressures …
The company's revenues hiked by 61% to AED 7.755 billion
11 August 04:33 PM Emaar Development records 46% higher profits in H1-21
Dubai – Mubasher: The net profits of Emaar Development jumped by 46% to AED 1.512 billion in the January-June period of 2021, compared to AED 1.036 billion in the year-ago period. The company's revenues hiked by 61% to AED 7.755 billion in the …