$9.2m dividend approved
(Gulf Daily News
-
30/03/2012)
Seef Properties yesterday announced a full-year cash dividend of BD3.45 million ($9.15m) for its shareholders. The announcement was made during the company's annual general meeting at the Fraser Suites in Seef. Chairman Shaikh Abdulla bin Khalifa Al
|
Mubadala hands Aldar stake to ADCB for loan
(Reuters
-
29/03/2012)
Investment fund Mubadala Development Co will transfer a 14-percent stake in Aldar Properties to Abu Dhabi Commercial Bank in return for a loan facility, according to a statement on Thursday. Mubadala, which owns 49 percent of the struggling developer
|
Emaar communities join hands to observe 'Earth Hour' 2012
(AME Info
-
29/03/2012)
Emaar Properties PJSC, the global developer of iconic projects, will once again observe Earth Hour 2012, the world's sustainability initiative aimed at raising awareness on climate change, by hosting the 'Earth Hour Walk' at Downtown Dubai, the company's
|
Sorouh outlines executive pay in show of transparency
(The National
-
29/03/2012)
Sorouh Real Estate's executive management team earned Dh15 million (US$4.1m) last year, the Abu Dhabi property developer revealed yesterday. In a display of transparency that is rare in the region, the company announced that managing director, Abubaker
|
Swallows not out yet for Arabtec summer
(The National
-
28/03/2012)
Much as one swallow does not a summer make, a good last quarter has failed to convince analysts there are more rewards to come at Arabtec. The company reported it had a buoyant end to last year. Net profit of Dh165 million beat consensus expectations and
|
Aldar may extend ‘Rent to Own scheme’ to Al Muneera
(Khaleej Times
-
28/03/2012)
Aldar Properties will extend its Rent to Own incentive to investors to its new water-front up-scale Al Muneera at Al Raha Beech, after it sold good number of residential units at Al Bandar and Al Zaina. “Making home ownership a more affordable option,
|
Aldar communities of Al Zeina and Al Muneera flourish
(AME Info
-
27/03/2012)
Al Zeina and Al Muneera, the Al Raha Beach communities owned and managed by Aldar Properties, are flourishing as owners and tenants start to move in and new facilities are delivered. The communities have been recently handed over to owners and increasing
|
Emaar plans to operate The Address Marassi Golf Resort & Spa in Egypt
(Khaleej Times
-
27/03/2012)
Emaar Hospitality Group, the hospitality & leisure subsidiary of Emaar Properties, has announced plans to strengthen its footprint across global growth markets in 2012, flagging off with the signing of a management contract by its flagship hotel brand,
|
Sorouh completes first phase of one of highest construction lifts
(AME Info
-
26/03/2012)
Sorouh Real Estate Company PJSC, the Abu Dhabi-based real estate developer, has completed the first stage of lifting a 'penthouse bridge' to top its 65-storey Gate Towers in Abu Dhabi, one of the highest construction lifts of its kind in the world. The
|
Emaar's apartment sales sag 85pc in 2011
(Reuters
-
25/03/2012)
Dubai-based Emaar Properties, developer of the world's tallest building, said revenue from villa sales and its rental and hospitality units rose last year, but this was not enough to offset an 85-per cent drop in apartment sale earnings. The Gulf's
|
Barwa plans selective global forays; focus stays on Qatar
(Gulf Times
-
22/03/2012)
Barwa Real Estate Company will pursue “selective” diversification in international markets, but Qatar will remain the key focus for its investment strategy, according to its top official. “We will pursue selective diversification internationally to
|
Emaar stocks slide to nearly two-week low
(Gulfnews
-
21/03/2012)
Shares of Emaar Properties tumbled to a near two-week low yesterday amid a muted response to the company's offer of a 10 fils cash dividend for 2011. Emaar, which is listed on the Dubai Financial Market (DFM), saw its stock price fall 2.62 per cent to
|
Emaar Retreats as Dividend Proposal Disappoints: Dubai Mover
(Bloomberg
-
20/03/2012)
Emaar Properties PJSC (EMAAR) retreated the most in two weeks after a 10 fils cash dividend for 2011 proposed by the board of the United Arab Emirates’ biggest developer fell short of investor expectations. Emaar, developer of the world’s tallest tower
|
Ezdan doubles profit to QR345.4mn in 2011
(Gulf Times
-
20/03/2012)
Ezdan Real Estate Company has more than doubled its net profit to QR345.43mn in 2011 on strong operating parameters. The company has proposed 1.5% cash dividend to shareholders subject to the approval of the annual general assembly. Rental revenues rose
|
Drake & Scull wins MEP contract for Assila Towers
(Saudi Gazette
-
20/03/2012)
Drake & Scull Saudi, the Mechanical Electrical and Plumbing (MEP) arm of Drake & Scull International (DSI) PJSC in the Kingdom, has recently been awarded a $36.7 million contract to provide turnkey MEP solutions to a high-profile project in Jeddah - the
|
Emaar expands board of directors
(Khaleej Times
-
20/03/2012)
Emaar Properties, developer of the world’s tallest tower, expanded its board of directors to 11 members from eight and replaced four. Shaikh Hamdan bin Mohammed bin Rashid Al Maktoum, Dubai’s Crown Prince and Chairman of the Executive Council of the
|
Mixed view on winners and losers of Aldar Sorouh merger
(The National
-
19/03/2012)
Aldar shareholders, being pegged as the winners in a proposed merger with Sorouh, may find the tables are turned on them once a deal is announced, say analysts. Bank of America Merrill Lynch projects that a combined entity with a market cap of US$2.45
|
Arabtec rules out talks on Aabar stake
(Gulf Daily News
-
19/03/2012)
Arabtec has no plans to renew talks with Abu Dhabi state fund Aabar Investments on taking a stake in the Dubai builder because its funding needs have eased, its chief financial officer said. Sovereign fund Aabar, which owns stakes in German carmaker
|
Sorouh elects new chairman
(Reuters
-
18/03/2012)
Abu Dhabi's Sorouh Real Estate, which is in merger talks with Aldar Properties, on Sunday appointed Mubarak Matar Al Humairi as its new chairman of the board. Sorouh, the second largest developer in Abu Dhabi, elected the new chairman on Thursday at a
|
RAK Properties, Colliers in retail development deal
(Trade Arabia
-
18/03/2012)
RAK Properties, Ras Al Khaimah’s leading property developer, has commissioned Colliers International, a major real estate services firm, to manage the retail development consultancy for its complexes at Julphar Towers and Mina Al Arab. The dual retail
|
Drake & Scull wins Dh465m Algeria deal
(The National
-
14/03/2012)
Drake & Scull International (DSI) rose to the highest level in more than a week yesterday after the Dubai contractor announced that it had won a Dh465 million contract in Algeria. The contract was awarded to its civil contracting subsidiary, DSI said in
|
Drake wins $230 million Algeria contract
(Reuters
-
13/03/2012)
Dubai contractor Drake & Scull, which has shifted its focus to other regional markets after a slowdown in the UAE's property sector, has won a 845 million dirham ($230 million) contract in Algeria, it said on Tuesday. The contract was awarded to the
|
Emaar unit to showcase Morocco property
(Trade Arabia
-
13/03/2012)
Emaar Morocco, the wholly-owned subsidiary of Dubai-based Emaar Properties, will host roadshows in Dubai and Abu Dhabi later this month to showcase ready-to-live-in villas and land plots in Marrakech. The Amelkis Resorts Open Week will present a unique
|
Barwa Bank appoints new Head of Retail Banking
(CPI Financial
-
13/03/2012)
With more than 12 years of experience in the local banking and finance sector, Al Abdullah, as Head of Retail Banking, is responsible for leading and managing Barwa Bank's Retail Banking division, covering a full spectrum of products and services across
|
Investor interest pushes up Aldar, Sorouh stocks
(Gulfnews
-
13/03/2012)
Dubai Predictably, the share prices of Aldar Properties and Sorouh Real Estate soared yesterday — jumping an identical 9.84 per cent and both ending the day on Dh1.34 — a sign that investors welcomed the idea of consolidation in the real estate market of
|