Year starts with a bang for Emaar Properties
(The National
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31/01/2012)
Emaar Properties had a strong run this month on investor expectations of bigger quarterly profits from its malls and hotels after tourists flocked to Dubai during the Arab Spring. Shares in the developer, which built the Burj Khalifa, have increased more
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Abu Dhabi in talks over Aldar stake
(Gulf Daily News
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31/01/2012)
Abu Dhabi has held talks to offload all or part of a 49 per cent government stake in struggling Aldar Properties in an attempt to stop its falling asset value from dragging down state investment fund Mubadala. According to sources, the talks have been
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DSI wins $34m Abu Dhabi contract
(Trade Arabia
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30/01/2012)
Drake & Scull International (DSI), a market leader in integrated design, engineering and construction sector, has clinched a Dh127 million ($34.5 million) Mechanical, Electrical and Plumbing (MEP) contract in Abu Dhabi. The project, for a major Abu Dhabi
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Deyaar set to hand over four projects, 1,000 units in 2012
(Khaleej Times
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30/01/2012)
Real estate company Deyaar Development on Sunday announced that it will hand over four projects in 2012 involving over 1,000 residential and commercial units, according to a statement from the company. The handover will include three commercial projects
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Abraaj Made ‘Significant’ Returns From Turkey Sale
(Bloomberg
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28/01/2012)
Abraaj Capital, the Middle East’s biggest private equity firm with about $7 billion in assets, said it made “very significant” returns from the sale of its 50 percent stake in Turkey’s largest hospital chain. Khazanah Nasional Bhd (KNBZ)., Malaysia’s
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Mazaya Towers open for business
(Kuwait Times
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24/01/2012)
Al-Mazaya Holding is offering new office spaces for rent at its Mazaya Towers in Kuwait Business Town at the heart of Kuwait City, the company announced in a press statement yesterday. During a ceremony held yesterday to inaugurate the Mazaya Towers,
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Union Properties executive resigns after Dh3.8bn Emirates NBD deal
(The National
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23/01/2012)
Khalid Rashid Al Jarwan, the Union Properties general manager, has resigned less than a week after the Dubai developer announced a deal to turn over a significant portion of its flagship projects to Emirates NBD. He has been replaced by Ahmad Khalaf Al
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Alargan International Real Estate - ratings action
(AME Info
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21/01/2012)
Capital Intelligence (CI), the international credit rating agency, announced that it has assigned an initial BBB- rating to the forthcoming KD26.5m unsecured bond issue by Alargan International Real Estate K.S.C.C. (Alargan). The Outlook on the rating is
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Bank acquires prize Dubai assets
(The National
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19/01/2012)
Union Properties has agreed to transfer to Emirates NBD Dh1.1 billion (US$299 million) of assets in two of the Dubai financial district's most dramatic buildings as it seeks to restructure its debt. The bank, the developer's largest shareholder, will now
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Dar Al-Arkan profit falls to SR289.6m in Q4
(Reuters
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19/01/2012)
Saudi Arabian real estate company Dar Al-Arkan said on Wednesday its fourth quarter net profit fell 12.3 percent on the year due to lower land and residential sales. The Kingdom's largest listed developer said its profit for the final three months of
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UP reschedules Dh2.7b debt ?to 2017
(Bloomberg
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19/01/2012)
Union Properties rescheduled repayment of Dh2.7 billion of debt owed to Emirates NBD until 2017, the developer’s Chairman Khalid Jassim bin Kalban said on Wednesday. The company will pay a ‘high interest’ of less than five per cent, he said, without
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Mazaya Qatar awards 130 million deal to China's Sinohydro
(AME Info
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14/01/2012)
Mazaya Qatar Real Estate Development Company has awarded China's Sinohydro a contract worth QR473m ($130m) to construct the Sidra Village project. According to the contract, Sinohydro will undertake all the construction and finishing works of the
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Mazaya Qatar Appoints Qinvest As Its Finance Advisor
(QNA
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11/01/2012)
Mazaya Qatar Real Estate Development Company has appointed QInvest, Qatar’s leading investment bank, as a financial advisor to arrange financing for the Sidra Village Residential Project. The signing ceremony was attended by CEO of Mazaya Qatar Seraj Al
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Dar Al-Arkan pays $9.2m in periodic coupon distribution
(AME Info
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10/01/2012)
Dar Al-Arkan Real Estate Development Company announced that on the 8th of January, 2012 it made a payment of $9.2m quarterly coupon distributions, of which $6.8m for Sukuk II maturing in 2012, and $2.4m for Sukuk III maturing in 2014. The periodic coupon
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Barwa Bank $466m rights issue completed
(Reuters
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08/01/2012)
Qatar's Barwa Bank, a unit of Barwa Real Estate, has completed a 1.7 billion riyals ($466.8 million) rights issue aimed at funding the bank's expansion, it said in a statement on Sunday. The Islamic bank said the offering, which opened on December 6 and
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Barwa Bank’s rights issue oversubscribed
(Gulf Times
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08/01/2012)
Barwa Bank’s recent rights issue, which sought to raise QR1.7bn was oversubscribed by QR233mn, the bank said. “In a powerful vote of confidence from shareholders, the subscription closed with a coverage of 113%,” Barwa Bank said. The offering comprised
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Aldar bonds may still offer value after yield plunge
(Reuters
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06/01/2012)
Bondholders in Abu Dhabi property developer Aldar Properties, which received yet another government lifeline last week, have seen the yield on its 2014 high-yield bond tumble to historic lows this week. But the company's debt may still offer value to
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Arabtec lands Dh561m Dubai airport contract
(The National
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05/01/2012)
Arabtec, the largest construction company in the UAE, has won a Dh561 million (US$152.7m) contract for the expansion of Dubai International Airport. The award follows Arabtec's Dh636m contract announced last month for infrastructure work in Saudi Arabia.
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Arabtec unit wins deal for Dubai Airport T2
(Khaleej Times
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05/01/2012)
A unit of Arabtec Holding has won an over half-a-billion dirham contract for the expansion of Dubai’s Terminal 2, the company said on Wednesday in a statement posted on the Dubai Financial Market website. Dubai’s Arabtec Construction announced that it
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Aldar says repaid $1.2bn bond on time
(Reuters
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04/01/2012)
Indebted Aldar Properties repaid a $1.18 billion convertible Islamic bond (sukuk) due on November 10 last year on time, the company said in a statement to the bourse, dated December 28 but released on Wednesday. Aldar, which last week received a new $4.6
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Emaar, Tamer Group ink land deal
(Trade Arabia
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04/01/2012)
Jeddah-based Tamer Group, a leading healthcare and consumer goods firm, has signed a deal with Emaar, The Economic City (EEC) to buy 500,000 sq m of freehold land in the Industrial Valley at King Abdullah Economic City, said a report. EEC is a consortium
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BARWA Announces Five Year Business Plan, Budget 2012
(QNA
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04/01/2012)
Barwa Real Estate recently conducted three days workshops attended by the Senior Management of Corporate, Subsidiaries, Associates and investments to review and discuss the 5 year Business plan 2012-2016 and the implications for the budget for 2012. The
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Arabtec Construction Company recieves letter of award
(Press Release
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04/01/2012)
Arabtec Construction LLC has received a Letter of Award from Dubai Aviation City Corporation(DACC) to carry out Dubai International Airport Expansion (Phase 3) Structural Works, Mechanical. Engineering and Plumbing (MEP), Special Airport System (SAS),
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Emaar sees growth for this year
(Gulf Times
-
03/01/2012)
Dubai-based Emaar Properties said it expects Dubai’s property market to record positive growth in 2012 across all sectors and the company will continue to focus on affordable housing through its Dawahi Development subsidiary in the new year. “Dubai has
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Tamer Group sets stage for new pharmaceutical complex
(Arab News
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01/01/2012)
Emaar, The Economic City (EEC), has announced the signing of a contract with Tamer Group for the purchase of 500,000 square meters of freehold land in the Industrial Valley at King Abdullah Economic City (KAEC). Fahd Al-Rasheed, managing director and CEO
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