Emaar sukuk raise $500m
(Khaleej Times
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28/01/2011)
Emaar Properties said on Thursday that it had raised $500 million by selling Islamic bonds, or sukuk, to support its capital requirements. Emaar “has successfully priced its first international fixed-income offering, raising $500 million via the issuance
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Emaar may issue dollar bond today
(Khaleej Times
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27/01/2011)
Emaar Properties, the developer of the world’s tallest building, plans to issue a benchmark dollar bond and pricing is expected to be announced on Thursday (today), according to sources. Last week, the developer announced that the company had hired top
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Barwa unveils ambitious plans for massive new automotive centre
(AME Info
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26/01/2011)
.Qatar's listed real estate company, Barwa Real Estate, has announced that it is launching a vast new project in Doha today to be known as Baraha Motor City. The QR2bn project covering almost 2 million square metres of land to be provided by the
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Drake & Scull secures first project win in Egypt
(Business Intelligence
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26/01/2011)
Drake & Scull International (DSI) PJSC, a regional provider of end-to-end contracting services, has secured a Mechanical, Electrical and Plumbing (MEP) contract for the ‘Nile Corniche Project’ (NCP) in Cairo, Egypt for a value of AED465 million
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Emaar plans benchmark dollar bond
(Reuters
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26/01/2011)
Emaar Properties, builder of the world's tallest building, plans to issue a benchmark dollar-denominated bond as part its $2 billion Islamic bond program, according to a source familiar with the matter. The pricing of the five-and-a-half year Islamic
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Aldar's Motor World set to boost Abu Dhabi car market this April
(AME Info
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25/01/2011)
Motor World, Aldar's custom-designed destination for new and used car showrooms and servicing facilities, is set to transform Abu Dhabi's car retail market when it open its doors in a few months time. Designed as a one-stop-shop for car buyers, Motor
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Mazaya Discloses 2010 Financials with Qr15 Million in Net Profit
(QNA
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25/01/2011)
Mazaya Qatar discloses the financial statements for the year ended December 31, 2010. The financials revealed a net profit of QR QR 15 Million in 2010 versus QR 15,6 million in The period from February 12, 2008 (date of incorporation) - until December
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TAIB Securities revises neutral rating to overweight on MCDC
(Arab News
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24/01/2011)
According to a research by Bahrain-based TAIB Securities research, Makkah Construction & Development Co. (MCDC) has made a 32.2 percent increase in activity revenues to SR191.86 million for the first half of 2011 from SR145.18 million. Its net profit
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Dubai Sukuk Returns as Emaar Plans $2 Billion in Issuance
(Bloomberg
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24/01/2011)
Emaar Properties PJSC plans to sell as much as $2 billion of Islamic bonds, its first in more than six years, as the developer of the world’s tallest tower in Dubai taps appetite for higher-yielding assets. The government-controlled company said Jan. 18
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Emaar dropped out of top 100 firms reshaping global industries
(Business 24|7
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21/01/2011)
Property major Emaar Properties has been dropped out of the world’s top 100 companies which are the rising starts from rapidly developing economies and reshaping the global industries, according to a Boston Consulting Group’s (BCG) study. Reason for the
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Dar Al-Arkan posts 29pc fall in Q4 net
(Reuters
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21/01/2011)
Dar Al-Arkan Real Estate Development Co, Saudi Arabia's largest developer by market value, posted a 29-percent fall in fourth-quarter net profit. The residential developer, which has to pay back a $1 billion sukuk next year, made a net profit of 330.4
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Aldar rules out delisting after Abu Dhabi aid
(Reuters
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20/01/2011)
UAE’s Aldar Properties will remain publicly listed, the group said on Wednesday, easing concerns among some investors it might follow last year’s delisting by Aabar Investments. A delisting of Aldar, which is being bailed out by the Abu Dhabi government
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Aldar clarifies capital raise plans, not to delist
(Reuters
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19/01/2011)
Aldar Properties has no plans to delist its stock after investors asked for clarification of its capital raising plans announced last week when the Abu Dhabi government threw it a $5.2 billion lifeline. Abu Dhabi stepped in to support the struggling
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Moody's blow to Dar Al-Arkan
(Reuters
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19/01/2011)
Moody's withdrew its ratings on Saudi Arabia's largest property developer Dar Al-Arkan late on Monday, citing its own business reasons. The ratings agency's last action on the Saudi firm was a November downgrade to Ba3 with a stable outlook from Ba2.
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Aldar expects to return to profit this year
(The National
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18/01/2011)
Aldar Properties, Abu Dhabi's biggest developer, expects to return to profit by the end of this year, the company's chief financial officer said yesterday. "In the coming year, you will see that the company will be in black at net profit level for 2011
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Aldar sees return to profit this year
(Reuters
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18/01/2011)
Indebted property developer Aldar Properties expects to return to profit in 2011, a spokesman for the company said on Tuesday confirming guidance given to investors by its chief financial officer. "Aldar confirms the guidance given by Shafqat Malik,
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Emaar Hires HSBC,RBS,StanChart to Hold Investor Meetings to Sell Bonds
(Bloomberg
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18/01/2011)
Emaar Properties PJSC, the United Arab Emirates’ biggest developer by market value, said it hired banks to arrange meetings with fixed-income investors ahead of a planned bond issue. The Dubai government-controlled company asked HSBC Holdings Plc, Royal
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Moody's places Aldar's ratings on review with direction uncertain
(AME Info
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18/01/2011)
Moody's Investors Service has today changed the direction of the ongoing review of the ratings of Aldar Properties' PJSC (Aldar) to direction uncertain, having previously had the ratings on review for possible downgrade. The affected ratings are Aldar's
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Emaar to meet bond investors from Jan 21
(Reuters
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18/01/2011)
Emaar Properties, builder of the world's tallest building in Dubai, has appointed banks to arrange fixed income meetings ahead of a possible bond issue, the developer said on Tuesday. HSBC, RBS and Standard Chartered have been picked to arrange the
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Abu Dhabi steps in with $5.2bn Aldar support
(Kuwait Times
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17/01/2011)
Abu Dhabi has stepped in with $5.2 billion of support for struggling developer Aldar Properties, including buying some of its key assets and subscribing to a bond sale. Indebted Aldar, part-owned by the government, will sell assets worth $1.49 billion to
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Arabtec wins two contracts worth $97m
(Reuters
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17/01/2011)
Dubai builder Arabtec said on Monday that it won contracts worth 356 million dirhams ($96.92 million) to build an underground car park in Abu Dhabi and residential villas in Egypt. The largest builder in the United Arab Emirates by market value, said the
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Mazaya works on first phase of constructing QNCC residential compound
(AME Info
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17/01/2011)
Mazaya Qatar Real Estate Development Company (QSC), one of the leading real estate development firms in the GCC region is working on completing the first phase of constructing the Qatar National Convention Centers (QNCC) residential compound after the
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Abu Dhabi pumping $5.2bn into Aldar by asset purchase
(Gulf Times
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16/01/2011)
Abu Dhabi’s government will pump 19.2bn dirhams ($5.2bn, €3.9bn) into the emirate’s biggest developer by purchasing assets and convertible bonds, the two sides have said. Aldar Properties unveiled a set of steps “designed to solidify the company’s
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Govt of Abu Dhabi to buy several Aldar assets
(Khaleej Times
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14/01/2011)
The Government of Abu Dhabi has agreed to purchase several of Aldar’s assets which have broad value for Abu Dhabi’s economy, according to the statement issued by Department of Finance of the Government of Abu Dhabi. Furthermore, in a coordinated action,
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Aldar Properties unveils framework on sustainable growth
(WAM
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14/01/2011)
Aldar Properties PJSC, Abu Dhabi’s leading property development, investment and management company, on Thursday unveiled a series of steps designed to solidify the company’s position for long-term, sustainable growth. The measures are focused on
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