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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 2607% 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 …
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4 January 03:38 PM Ajman Bank launches real estate unit Skyrise Properties
Dubai – Mubasher: Ajman Bank has launched Skyrise Properties, a new fully owned subsidiary focused on real estate asset management, according to a press release. The UAE-headquartered unit is set to foster the property management sector in line …
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3 January 02:14 PM Q Properties unveils AED 62m contract award for development project
Abu Dhabi – Mubasher: Q Properties, a real estate developer and subsidiary of Q Holding, has awarded an AED 61.96 million design and construction contract. The agreement covers nearly 5,000 piles of the foundation of the six apartment buildings of …
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24 December 2023 03:35 PM Deyaar pens deal for new residential project in Abu Dhabi
Dubai – Mubasher: Deyaar Development and Arady Properties signed a memorandum of understanding (MoU) to establish a joint development project at Al Reem Island in Abu Dhabi. Through the agreement, the two entities plan to explore how the project …
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19 December 2023 04:18 PM UK-based Starz, Mubadala partner for special situations fund
UAE - Mubasher: Starz Real Estate, a pan-European commercial real estate lending platform, has launched a special situations fund under the name Starz Orion Capital with Abu Dhabi sovereign wealth fund Mubadala Investment Company as the anchor …
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19 December 2023 01:55 PM Aldar, Mubadala, Ares to invest $1bn in European private real estate credit
Abu Dhabi – Mubasher: Aldar Properties, Mubadala Investment Company, and Ares Management plan to jointly invest $1 billion in private real estate credit opportunities in the UK and Europe over the next three to five years. Under the joint …
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30 November 2023 11:19 AM Orascom Construction’s 9M-23 consolidated profit leap 98.6%; backlog hit $7bn
Cairo – Mubasher: The consolidated net profits attributable to shareholders of Orascom Construction hit $114.80 million in the first nine months (9M) of 2023, an annual hike of 98.60% from $57.80 million. Revenues amounted to $2.36 billion in …
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12 November 2023 02:41 PM Emaar Properties generates AED 18.4bn revenues in 9M-23; profits surge 42%
Dubai – Mubasher: Emaar Properties reported revenues totalling AED 18.40 billion ($500 million) in the first nine months (9M) of 2023, according to financial results. Net profits amounted to AED 8.20 billion ($2.20 billion) in 9M-23, marking a 42% …
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12 November 2023 10:24 AM Emaar Development’s property sales jump 25% in 9M-23; profits cross AED 4bn
Dubai – Mubasher: Emaar Development logged 25% higher property sales at AED 28.90 billion ($7.90 billion) in the first nine months (9M) of 2023, compared to AED 23.20 billion ($6.30 billion) in 9M-22. This solid performance is attributed to the …
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30 October 2023 00:40 PM Aldar’s net profits hit AED 3bn in 9M-23; revenues hike 21%
Abu Dhabi – Mubasher: Aldar Properties achieved net profits valued at AED 3 billion in the first nine months (9M) of 2023, higher by 41% than AED 2.13 billion in the year-ago period. Revenue and rental income stood at AED 9.76 billion in 9M-23, an …