2017 2016 2015 2014 2013 2012 2011 2010 News Archive
January February March April May June July August September October November December
Saudi Real Estate signed a contracting amounting to SR 26 million
(Tadawul - 29/02/2016)

Saudi Real Estate Company has signed a contract On 19/05/1437H corresponding to 28/02/2016, amounting to SR (26,000,000) (Saudi Riyal Twenty Six million) with M/s Keo International Consultants for Design, Construction Management and Supervision of Al

KAEC unveils new affordable housing units
(Trade Arabia - 28/02/2016)

King Abdullah Economic City (KAEC), a special economic zone on Saudi Arabia's Red Sea coast, is set to offer affordable apartment homes in its newly built Al-Shurooq community following the success of its recent residential sales across all segments.

Barwa Real Estate swings to Q4 net loss
(Trade Arabia - 22/02/2016)

Qatar's Barwa Real Estate , one of its largest listed developers, swung to a loss in the fourth quarter, according to Reuters calculations. Barwa made a net loss of QR518 million ($142.3 million) in the three months to Dec. 31, Reuters calculated, based

Arabtec suffers $627 million loss
(Arab News - 22/02/2016)

The Dubai construction company that helped build the city's record-breaking Burj Khalifa and many other buildings in the United Arab Emirates says it lost more than $600 million last year as building slows amid a slump in oil prices. Arabtec Holding's

Dar Al Arkan gets key ratings downgrade
(Trade Arabia - 21/02/2016)

Moody's Investors Service has downgraded the corporate family rating of Dar Al Arkan Real Estate Development Company (DAAR) to B1 from Ba3 and the company's probability of default rating (PDR) to B1-PD from Ba3-PD. The outlook on the ratings is negative,

Ezdan Holding Group’s net profit jumps 22%
(Trade Arabia - 17/02/2016)

Ezdan Holding Group delivered a record net profit of QR1.66bn for the full-year 2015, up 22 percent compared to 2014. The Group’s share recorded a remarkable hike during 2015, where the Earnings per Share (EPS) reached QR0.63 versus QR0.51 for the same

Emaar to open a Rove hotel next to Dubai Parks and Resorts
(The National - 17/02/2016)

Developer Emaar expects to open its first Rove hotel near the massive theme park under construction on the outskirts of Dubai. The 458-room, mid-market Rove At The Park will open adjacent to Dubai Parks and Resorts in Jebel Ali. The company did not

Inovest revenues hit $9.2 million
(Gulf Daily News - 16/02/2016)

Inovest, a Bahrain-based Sharia-compliant investment firm, has registered a consolidated net loss of $53.7 million last year in comparison with $3.8m in 2014. In an announcement yesterday following a board meeting, the firm said total revenues excluding

Aldar’s net profit up 13% at Dhs2.6 billion
(The Gulf Today - 16/02/2016)

Aldar Properties has announced a net profit of Dhs2.6 billion for the financial year ended Dec. 31, 2015, up 13% from Dhs2.3 billion in 2014. Net profit for the fourth quarter rose 4 per cent to Dhs750 million, from Dhs718 million in Q4 2014. The company

Dubai contractor Drake & Scull reports Dh936 million loss for 2015
(The National - 15/02/2016)

The Dubai-based contractor Drake & Scull International (DSI) reported a Dh936.8 million loss for 2015, blaming it on the “unprecedented measures” it had to take in the third quarter. It was forced to make Dh984m in provisions relating to a contractual

RAK Properties profit up 2.7% to Dh160 million in 2015
(The National - 11/02/2016)

Net profit at RAK Properties, the developer backed by the Ras Al Khaimah government, increased by 2.7 per cent last year. The Abu Dhabi-listed company on Wednesday posted a net profit of Dh160 million for 2015, up from Dh155.7m the previous year as it

Emaar Properties net profit up 18% at $1.19b
(Saudi Gazette - 11/02/2016)

Global developer Emaar Properties PJSC recorded full-year 2015 net operating profit of AED4.383 billion ($1.193 billion), 18 percent higher than the FY2014 net operating profit of AED3.724 billion ($1.014 billion). Emaar achieved full-year 2015 revenue

Emaar Malls profit up 23% in 2015
(Arab News - 08/02/2016)

Emaar Malls, the shopping and retail arm mostly owned by Dubai’s Emaar Properties giant, said its annual profit surged 23 percent to $451 million in 2015, as rental income increased. Net profit reached AED1.66 billion ($451 million) in 2015, compared

Union Properties profit plunges in Dubai slowdown
(The National - 02/02/2016)

Profit at Union Properties, the Dubai developer behind Motor City and the Green Community, halved last year as the company was hit hard by a slowdown in the emirate’s property market. Union Properties reported that net profit for the year sank to Dh434.6

Jabal Omar in talks with lenders after missing SR650m payment
(Arab News - 01/02/2016)

Saudi Arabia's Jabal Omar Development Co. is in talks with creditors after failing to make the first repayment, worth SR650 million ($173.29 million), on a SR3 billion state loan on Jan. 1, the property firm said on Sunday. In a bourse filing, the