Real estate

Chinese brands have a host of resources
19 July 06:25 PM Chinese brands eyes foothold in UAE
Abu Dhabi – Mubasher: Various shopping brands and shopping destinations in China are looking forward to expansion in the UAE and the Middle East in general. Chinese brands have a host of resources that enable them to expand their presence locally …
First Dubai stock closed Thursday’s session 0.43% higher at 46.2 fils
19 July 05:33 PM First Dubai Q2 financials turn to losses, H1 profits up 25%
Mubasher: First Dubai for Real Estate Development incurred a loss of KWD 357,000 ($1.18 million) during the second quarter of 2018 against profits of KWD 507,000 ($1.68 million) in the second quarter of 2017. During the first half of 2018, First …
The first loan is valued at KWD 20 million
19 July 05:26 PM Kuwait Real Estate inks KWD 30m loan deals
Mubasher: Kuwait Real Estate has signed credit facilities contracts at a total value of KWD 30 million ($99.2 million), according to a bourse statement on Thursday. The first loan is valued at KWD 20 million and was signed with an Islamic bank, …
The value of Dubai’s prime residential market recorded AED 3.5 billion
19 July 04:02 PM Dubai real estate market growth eases in Q2
Dubai – Mubasher: The value of the real estate’s secondary market deals in Dubai declined to AED 12.1 billion in the second quarter of 2018, compared to AED 14.4 billion in Q1-17. Off-plan market’s transactions in the emirate decreased by 28 …
The new shareholding limit will boost some activities in the real estate sector
19 July 01:01 PM Low prices to push up UAE propriety market
By: Mahmoud Gamal Dubai – Mubasher: The real estate prices in the UAE have reached their most attractive levels in years, Colliers International’s regional director in the Middle East Ian Albert told Mubasher. The latest incentivising decisions …
Aur Capital will contribute to the fund with a 30% share
19 July 12:37 PM Aur Capital, Wadi Degla set up EGP 2.35bn real estate investment fund
Cairo – Mubasher: Aur Capital and Wadi Degla Developments have signed an agreement to launch Aur-Wadi Degla Fund to acquire Wadi Degla Real Estate with EGP 2.35 billion. Aur Capital will contribute to the fund with a 30% share through its …
Al Mutahidah Towers, The Pearl Qatar by UDC
18 July 03:45 PM Qatar’s UDC logs QAR 260m profits in 6M
Mubasher: United Development Co (UDC) on Wednesday posted a decline in profits for the first six months of 2018. The firm registered QAR 260 million in profits, attributable to shareholders, between January and June, down from QAR 284 million in …
The incline in profits is attributed to higher income results of an associate
18 July 10:12 AM Ajial Real Estate records higher profits in Q2, 6M
Mubasher: Ajial Real Estate Entertainment achieved a surge of 136.5% in profits during the second quarter of 2018, compared to the same period in the prior year. Earnings enlarged to KWD 1.44 million ($4.76 million) in Q2-18 from KWD 609,000 …
EPS amounted to QAR 0.16 in Q2-18
18 July 09:43 AM Ezdan Holding Group logs QAR 320m profit in Q2
Mubasher: Ezdan Holding Group on Wednesday reported a 52.5% year-on-year profit surge in the second quarter of 2018. Ezdan's net profits amounted to QAR 320.11 million ($88.4 million) in the period between April to June, compared to QAR 209.85 …
Palm Hills’ vice chairman Timothy Collins resigns
17 July 06:00 PM Palm Hills’ vice chairman resigns
Cairo – Mubasher: Palm Hills Developments (PHD) on Tuesday said its vice chairman Timothy Collins has resigned his post. "I am leaving the Board of PHD as a result of having to manage various competing investments. Having spent a few years with …
Emaar Properties' founder and CEO Mohamed Alabbar
17 July 03:15 PM Emaar Properties to double Egypt investments to EGP 100m – Alabbar
Cairo – Mubasher: The investments of the UAE-based Emaar Properties in Egypt is nearing EGP 50 billion now, founder and CEO Mohamed Alabbar said. The real estate developer seeks to double these investments to EGP 100 billion in the next five …
Transactions carried out in H1-18 registered 2,978
17 July 02:16 PM Dubai Land Department records 5,181 active brokers in 6M
Dubai - Mubasher: The Dubai Land Department (DLD) has stated that the real estate brokerage commissions reached AED 571 million in the first six months of 2018, while the number of active brokers hit 5,181 working in 2,113 offices. Meanwhile, …
Abraaj’s $990m sub-Saharan Africa fund mulls hiring new manager
17 July 02:15 PM Abraaj’s $990m sub-Saharan Africa fund mulls hiring new manager
Mubasher: Investors in the Abraaj Group’s African subsidiary, Abraaj Africa Fund III, are weighing up appointing new manager that may constitute a new hurdle ahead the sale process for the embattled firm’s asset management unit. “Investors in the …
The credit facilities should be repaid on 15 November 2019
17 July 12:50 PM United Real Estate renews credit facility with Burgan Bank
Mubasher: United Real Estate has signed a renewal and modification of credit facilities agreement with Burgan Bank at a total value of KWD 51.5 million ($170.4 million). The credit facilities should be repaid on 15 November 2019 to finance United …
We may see the first listing ever of REITs on the DFM this year
17 July 12:40 PM REITs’ listing to energise UAE markets – Analysis
By: Mahmoud Gamal Dubai – Mubasher: The UAE authorities are at pains to attract investors from all over the world through a variety of means, decisions, and plans, such as the Dubai Financial Market’s (DFM) scheme to list real estate investment …
Al Alamein Hotel features the renowned Umbrellas sculpture by Greek artist George Zongolopoulos
17 July 11:36 AM Emaar Misr opens Al Alamein Hotel after EGP 1.5bn revamp
Cairo – Mubasher: Emaar Hospitality Group, a subsidiary of UAE-based Emaar Properties, has inaugurated Al Alamein Hotel in Marassi by the Sidi Abdelrahman Bay of the Mediterranean Sea after revamping it at a combined cost of EGP 1.5 billion. "The …
Azizi Riviera phase 4 comprises 4,753 units
16 July 03:23 PM Azizi Developments says work in Azizi Riviera project on track
Dubai – Mubasher: Azizi Developments on Monday announced the recent updates in construction works of the four phases of Azizi Riviera in Meydan One. The Dubai-based real estate developer said that work progress in the project is advancing …
Aldar Properties has commenced the delivery of 300 units on Yas Island’s West Yas villa community
16 July 12:36 PM Aldar Properties’ projects see considerable progress in Q2
Abu Dhabi - Mubasher: Aldar Properties has seen a good progress in a slew of projects during the last quarter. The UAE-based developer has commenced the delivery of 300 units on Yas Island’s West Yas villa community, while the construction was …
Emaar Properties aims to raise around $700 million through selling its hotel portfolio
16 July 10:28 AM Emaar Properties to sell AED 5bn assets
Dubai – Mubasher: Emaar Properties began signing contracts with several interest parties to sell assets at a combined value of AED 5.14 billion ($1.4 billion), sources said. The UAE-based real estate developer is looking to sell hotels, clinics, …
The firm’s net profits amounted to SAR 44.6 million in the period between April to June
15 July 09:40 AM Arriyadh Development’s profit drops 3% in Q2
Riyadh – Mubasher: Arriyadh Development Company on Sunday posted a 3.04% year-on-year drop in net profits during the second quarter of 2018, in addition to posting a 1.23% profit decrease during the first six months of this year. The firm’s net …
Alwadian is planned to be headquartered in Riyadh
12 July 08:12 PM Al Akaria to launch new SAR 1bn unit
Riyadh – Mubasher: Saudi Real Estate (Al Akaria) has announced that the Ministry of Commerce and Investment has issued a decree permitting the company to incorporate a closed joint stock company under the name of Alwadian Saudi Real Estate …
Mazaya Qatar not to acquire Tornado Tower
12 July 10:52 AM Mazaya Qatar not to acquire Tornado
Mubasher: Mazaya Qatar Real Estate Development on Thursday announced that its subsidiary Granada Real Estate Investment Company has reached a final agreement with the two companies owning Tornado Company, whereby it will not proceed with its …
The Emirati real estate sector is now more resilient
11 July 08:16 PM UAE real estate sector to flourish in H2-18
By: Mahmoud Gamal Dubai – Mubasher: The UAE real estate sector is expected to see a better growth in the second six months of 2018 due to the recent government decisions aimed at stimulating the national economy, along with the merger between …
The increase in H1-18 losses is linked to Sanam’s investment portfolio.
11 July 03:38 PM Sanam Real Estate incurs higher losses in Q2
Mubasher: Sanam Real Estate suffered an increase of 101.1% in losses during the second quarter of 2018 compared to the same period last year. Losses deepened to about KWD 116,820 ($386,830) in Q2-18, from nearly KWD 58,100 ($192,390) in Q2-17, …
Business Town expected the complex to be constructed in 28 months
11 July 03:26 PM Business Town buys EUR 3m asset in Belgium
Mubasher: Kuwait Business Town Real Estate announced that it has purchased a land plot to develop Brussels centre in Belgium, according to a bourse statement on Wednesday. The land plot is valued at EUR 2.7 million (KWD 963,000) with a total space …