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16/02/2018 06:07 AST
Eshraq Properties reported a net profit of Dh32.2 million last year compared to a net loss of Dh301 million in 2016.
The company which is involved in the development of various projects in Abu Dhabi and Dubai said that it started the construction of Marina Rise, a 233-apartment project on Reem Island, which is expected to be delivered by the end of 2019. It also finalised the design of its Jumeirah Rise project in Dubai and will award the construction contract in the second quarter of 2018.
Eshraq also made substantial progress in its negotiations with Reem Investments for the acquisition, which is likely to be completed in the second quarter of the year, according to a statement by the company on Thursday.
Gulf News
17/09/2017
The deal for Abu Dhabi-based Eshraq Properties to acquire Reem Investment is expected to be finalised in the next three months and will more than double Eshraq's market capitalisation when complete.<
Gulfnews
31/08/2017
Abu Dhabi developers Eshraq Properties and Reem Investments on Wednesday said they were in advanced stages of merger talks to create the second-largest listed developer in the emirate.
The d
Arab News
14/06/2017
Eshraq Properties said that it has entered into an agreement divesting its equity representing 4.55 per cent of the total capital in Ward Holdings Limited, a company existing under the laws of DIFC (
Gulfnews
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25/04/2025
Saudi Awwal Bank (SAB), one of the leading banks in Saudi Arabia, has signed SR2 billion credit facility agreement with the Saudi Binladin Group, a subsidiary of Binladin International Holding Group,
Saudi Gazette
24/04/2025
The Dubai-based logistics firm Aramex has confirmed a new acting CEO after Othman AlJeda, the incumbent, resigned for personal reasons.
The change at the top comes just weeks after Abu Dhabi
Gulfnews
24/04/2025
The leading UAE banks have put up some sizable growth in their Q1-2025 results, with ADIB's net profit before tax totalling Dh1.9 billion - and that's from an impressive 18% gain year-on-year.
Gulfnews
24/04/2025
Salalah Port has received five modern dual-fuel methanol-powered container vessels from Maersk's fleet, marking a significant milestone in the port's infrastructure development and readiness to accom
Times of Oman
24/04/2025
QNB has launched a new campaign, aimed at rewarding customers to use their QNB Mastercard debit cards for everyday purchases.
The campaign, taking place from April 24-June 24, will offer win
Gulf Times
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