Real estate

The positive turn in financials was attributed to the company’s performance
14 February 05:22 PM Union Properties logs AED 62m profit in 2018
Dubai – Mubasher: Union Properties (UPP) on Thursday announced that it has turned a profit for during the full-year 2018. Net profits amounted to AED 62.3 million in 2018, against losses worth AED 2.73 billion in 2017, the real estate developer …
Revenues grew 37% to AED 25.694 billion in 2018
14 February 02:48 PM Emaar Properties logs 30% profit rise in 2018
Dubai – Mubasher: Emaar Properties, listed on the Dubai Financial Market (DFM), reported a 30% profit increase in 2018, according to the company’s statement. The UAE firm’s profits amounted to AED 7.216 billion ($1.965 billion) in 2018, compared …
The JV focuses on two mega-projects
14 February 01:56 PM Aldar-Emaar’s $8bn JV structure set for close finish - CEO
Abu Dhabi — Mubasher: Aldar Properties is in the “final stages” of completing the structure of its joint venture (JV) with Emaar Properties, the CEO of Abu Dhabi-based developer said. “We’ve advanced those discussions significantly with Emaar and …
Emaar is currently working on nine residential destinations in Dubai with over 29,800 homes
14 February 10:57 AM Emaar Development logs 42% profit hike in 2018
Dubai – Mubasher: Emaar Development, the local property development unit of Emaar Properties, on Thursday reported a 42% year-on-year surge in profits for the full-year 2018. Net profits amounted to AED 3.90 billion ($1.06 billion) in 2018, …
IFA sold parts of some subsidiaries last year
14 February 09:44 AM IFA suffers KWD 3.52m loss in Q4
Mubasher: Kuwait-based International Financial Advisor (IFA) on Thursday reported a 63.8% year-on-year decrease in losses during the fourth quarter of 2018. IFA’s losses amounted to KWD 3.52 million ($11.62 million) in Q4-18, down from KWD 9.72 …
The project’s first phase comprises 167 units
13 February 05:27 PM Sobha Realty delivers 1st phase of Hartland Greens apartments in MBR city
 Dubai – Mubasher: Sobha Realty announced the beginning of delivering the first phase of Hartland Greens apartments, located in its Sobha Hartland development in Mohammed Bin Rashid Al Maktoum (MBR) city. Hartland Greens, which comprises six …
High Tea at The Lounge is priced AED 550 per person
13 February 04:19 PM The Lounge opens as highest point in Dubai's Burj Khalifa
Mubasher: Dubai has witnessed the opening of The Lounge, the highest point in Burj Khalifa at levels 152, 153 and 154. Towering at an imposing height of 575 meters, The Lounge, Burj Khalifa was built to be the world's highest restaurant, spanning …
Emaar Malls’ profits rose 10% to AED 591 million in Q4-18
13 February 03:53 PM Emaar Malls reports 7% profit rise in 2018
Dubai – Mubasher: Emaar Malls reported a 7% year-on-year profit increase during the full-year 2018, logging AED 2.230 billion ($607 million) from AED 2.086 billion ($568 million). As for the fourth quarter of 2018, the retail and shopping malls …
Revenues from leasing this asset will be registered in Q2-2020
13 February 02:21 PM Salhia Real Estate inks leasing deal with Warba Bank
Mubasher: Salhia Real Estate has signed an official leasing agreement with Warba Bank for plots up to 14,603 square metres distributed through 22 floors in Al Raya Tower. The building is fully owned by Salhia Real Estate, according to a bourse …
Eshraq is working on developing a residential tower “Marina Rise” in Reem Island, Abu Dhabi.
13 February 12:34 PM Eshraq Properties rebrands as Eshraq Investments; to complete Marina Rise tower in Q2-20
Dubai – Mubasher: Eshraq Properties, listed on the Abu Dhabi Securities Exchange (ADX), on Wednesday announced that it has changed its name to Eshraq Investment after getting the shareholders’ approval during a general meeting held on 11 February. …
The deal aims to finance part of the Qatari firm’s capital expenses
13 February 10:27 AM Barwa Real Estate inks QAR 1.2bn financing deal
Mubasher: Barwa Real Estate on Wednesday announced signing a QAR 1.2 billion ($332 million) financing agreement with a Qatari local bank. The seven-year deal aims to finance part of the Qatari firm’s capital expenses in 2019, the company said in a …
The new facility will accommodate about 5,000 Farnek employees
12 February 06:25 PM UAE’s Farnek unveils $41m smart staff accommodation
Dubai - Mubasher: UAE-based facilities management company Farnek on Tuesday announced the commencement of its new AED 150 million ($40.8 million) staff accommodation in Dubai Investments Park in Dubai South. Spanning over 100,000 square feet, the …
Salhia Real Estate closed Tuesday’s session at 332 fils
12 February 02:59 PM Salhia Real Estate FY18 profits grow 9%; dividends proposed
Mubasher: Salhia Real Estate achieved an increase of 9.4% in earnings during fiscal year 2018 compared to the prior year. Profits rose to KWD 17.31 million in FY18 from KWD 15.82 million in FY17, according to a bourse statement on Tuesday. During …
Earnings per share (EPS) registered 27.65 fils in the 9M-18
12 February 12:47 PM Mena Real Estate 9M financials turn profitable
Mubasher: Mena Real Estate has achieved profits during the first nine months ended on 31 December 2018 against a loss in the corresponding period in 2017. Earnings stood at KWD 2.4 million ($1 million) in 9M ended on 31 December 2018 versus a loss …
The new tower will be among the world’s tallest buildings when it is completed
12 February 12:17 PM Dubai ruler unveils 550-metre Burj Jumeirah designer
Dubai – Mubasher: Sheikh Mohammed bin Rashid Al Maktoum, the UAE's vice president, prime minister, and ruler of Dubai, has revealed that Skidmore, Owings & Merrill (Som) would be the designer of Dubai's Burj Jumeira. The New York-headquartered …
Ajial's board recommended withholding dividends for FY18
12 February 12:00 PM Ajial Real Estate FY18 profits down to KWD 2.5m
Mubasher: Ajial Real Estate Entertainment registered a decline of 18% in profits during fiscal year 2018 compared to the prior year. Earnings shrank to KWD 2.46 million in FY18 from KWD 3 million in FY17, according to a bourse filing on Tuesday. …
The properties span the submarkets of five rapidly growing metro areas across the Southeast and Southwest states
12 February 11:15 AM Investcorp acquires 8 US properties for $330m
Mubasher: Investcorp, a leading provider and manager of alternative investment products, on Tuesday announced that its US-based Real Estate Investment team has acquired eight new multifamily properties with 2,510 units. The transaction’s total …
The new company will focus on yielding infrastructure and real estate assets.
11 February 05:55 PM Badwa Capital launches $100m new investment management arm
Dubai – Mubasher: Badwa Capital, advisory and banking firm regulated by the Dubai Financial Services Authority (DFSA), on Monday announced foraying into the investment management business. To this end, the market-leading investment banking …
Primary and secondary office locations in Riyadh have dropped by 4% and 7% y-o-y, respectively
11 February 05:20 PM Saudi office rentals down 7% YoY; SME space demand hikes - Report
Riyadh — Mubasaher: Saudi Arabia’s office rentals have seen a year-on-year decline, according to a recent report released by real estate consultancy CBRE.   Primary and secondary office locations in the Saudi capital Riyadh have dropped by 4% and …
Sanam Real Estate closed Monday’s session 15.07% lower
11 February 04:13 PM Sanam Real estate’s losses shrink 55% in Q4
Mubasher: Sanam Real Estate reported a decrease of 54.8% in losses during the fourth quarter of 2018 from the same period a year ago. Losses shrank to about KWD 352,830 ($1.16 million) in Q4-18 from nearly KWD 780,420 ($2.57 million) in Q4-17, …
United Real Estate will develop Marriott’s St Regis
10 February 05:21 PM Marriott, United Real Estate to open resort in Morocco
Mubasher: United Real Estate, a subsidiary of Kuwait Projects (KIPCO), has agreed with Marriott International to open a resort near Marrakech, Morocco, according to Reuters. Located in central Morocco, the St. Regis Marrakech should open in 2024, …
NBK’s real estate price indices jumped in 2018
9 February 05:23 PM Kuwait's real estate sales mark 4-yr high in Q4 – NBK
Mubasher: The Kuwaiti real estate sector saw a higher amount of sales during the fourth quarter of 2018, recording their highest levels in four years. Real estate sales increased by 23% quarter-on-quarter (91% year-on-year) to KWD 1 billion ($3.29 …
The debt settlement will be executed through an in kind repayment
7 February 04:21 PM Abyaar in talks with bank to settle KWD 20m debts
Mubasher: Abyaar Real Estate Development is currently in negotiations with a local bank to reach a settlement for its indebtedness, according to a bourse disclosure on Thursday. The Kuwaiti company is in talks to settle KWD 20.4 million …
High electricity consumption bills placed a burden on investors and tenants
7 February 03:27 PM UAE’s real estate sector to see strong recovery on recent resolutions
By: Mahmoud Gamal Dubai – Mubasher: The UAE’s real estate sector is expected to witness a robust recovery on the back of issuing a raft of resolutions and official initiatives, chief among them was cutting electricity consumption tariff paid by …
The assets were sold at a premium price of KWD 5.6 million
7 February 11:01 AM Al Enmaa Real Estate sells KWD 6.5m assets
Mubasher: Al Enmaa Real Estate has sold five properties in an auction on Tuesday, Al Anba Newspaper reported. The assets were sold for KWD 6.5 million at a premium price of KWD 5.6 million, an increase of 14.9%, the Al Anba added.