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Damac chairman says 2016 profit in line with last year
(The National - 29/08/2016)

Hussain Sajwani, the chairman of the Dubai developer Damac, said the company’s profit for this year was likely to be in line with the Dh4.5 billion it achieved last year. In an interview with the Arabic newspaper Al Khaleej, Mr Sajwani also said that the

Union Properties enter into Dh290m financing agreement
(Gulfnews - 29/08/2016)

Union Properties said on Sunday it has entered into a Dh290 million financing agreement with Ajman Bank and RAK Bank for financing of Oia project for 6 years. The company has also authorised the board of directors to enter into loans for 3 years, sell

Drake & Scull International shares fall sharply in Dubai as it reviews
(The National - 24/08/2016)

Shares in Drake & Scull International (DSI) opened sharply lower on Tuesday morning, after the construction firm said it was reviewing business activities and seeking strategic investors after slipping into the red during the second quarter. DSI shares

Dubai’s Damac awards Dh967m contract to build Aykon London One tower
(The National - 24/08/2016)

Damac has awarded a £200 million (Dh968m) contract to Australia’s Lendlease to build its Aykon London One tower amid a frenzy of high rise construction in central London. The building has been designed by the architect Kohn Pedersen Fox and the interiors

Aldar inaugurates Innovation Lab at Yas Island’s ‘The District’
(Saudi Gazette - 18/08/2016)

ALDAR Properties PJSC, in its role as Platinum Sponsor for Yas Island’s ‘The District’, is proud to present the Aldar Innovation Lab, starting today (Aug. 18) to Sept. 17, 2016. The District, part of the Abu Dhabi Tourism & Culture Authority-organized

Drake & Scull H1 revenue falls 23pc
(Trade Arabia - 16/08/2016)

Drake & Scull International (DSI), a regional leader in the construction sector, reported a revenue of Dh1.83 billion ($498 million) for the first half of the year, marking a 23 per cent decline compared to Dh2.39 billion achieved in H1 2015. The fall in

NREC posts KD 7.6 mln net profit in first half – Operating revenues
(Arab Times - 16/08/2016)

National Real Estate Company (NREC), a leading regional asset manager and developer with development projects exceeding $1 billion in both Egypt and the UAE, today released its financial results for the first half of 2016. The company recorded growth in

Emaar launches homes in Dubai Creek Harbour
(Gulfnews - 15/08/2016)

Emaar Properties said on Sunday it has launched residences and villa town houses in Dubai Creek Harbour. The sales event will be on a first-come, first-served basis from August 18, at all participating Emaar Sales Centres in Dubai, Emaar said in a

DAMAC posts AED1.94bn net profit first half
(Arab News - 15/08/2016)

DAMAC Properties Dubai Co. PJSC (DAMAC), a major developer of high-end property in the Middle East, reports AED 1.94 billion net profit in H1, 2016. The net profit for the reporting period of AED 1.94 billion was however a drop of 27 percent compared to

“Inovest” announces a net profit of $5.4 million for H1 2016
(CPI Financial - 12/08/2016)

The Inovest Group announced today its financial results for the first half of 2016, with a clear continuation of its marked improvement in performance, by recording a net profit of $5.4 million in comparison to a net loss of $1.9 million for the same

Barwa awards ‘Dara A’ project in Lusail Fox Hills to QDTC
(Gulf Times - 11/08/2016)

Barwa Real Estate has awarded the construction of the ‘Dara A’ project to Qatar Development Company for Trading & Contracting (QDTC) for a total value of QR115.9mn and a duration of 18 months, it was announced. The Dara A project, which is located in the

Deyaar spins off facilities management unit
(Gulf News - 11/08/2016)

Dubai-based Deyaar Development announced on Wednesday that it is spinning off its facilities management unit into a separate company. The company will be called Deyaar Facilities Managements and run by Mohammad Abdul Karim Khamis as General Manager,

Damac to sell off plots of land at Akoya Oxygen project in Dubai
(The National - 10/08/2016)

Damac Properties is to start selling off plots of land at its Akoya Oxygen community in Dubai. The plots will have a starting price of Dh600,000 and Damac said that it will give investors up to 10 years to build on them. Last month, the company announced

Deyaar announces $30.2 million in net profit for first half of 2016
(Gulf News Journal - 08/08/2016)

Deyaar Development PJSC, a leading property developer and real estate service provider in Dubai, has announced its financial and operational results for the second quarter and six-month period ending June 30. For the first half of the year, Deyaar earned

Emaar unveils homes near Dubai Opera
(Gulf News - 08/08/2016)

Emaar Properties has unveiled residences located adjacent to the Dubai Opera in Downtown Dubai, according to a statement on Sunday. The “Act One | Act Two” residences are housed in 52- and 46-storey towers, with views of Burj Khalifa and the Mohammad Bin

Aldar posts 9.7% rise in Q2 net
(The Gulf Today - 03/08/2016)

Aldar Properties on Tuesday reported a 9.7 per cent rise in second-quarter net profit,. The net profit of Dhs657.4 million ($179 million) in the three months to June 30, disclosed in a bourse filing, was the eighth successive quarter of rising earnings

Qatar’s Barwa Real Estate makes $175.8m land purchase in Saudi Arabi
(Gulfnews - 02/08/2016)

Qatar’s Barwa Real Estate, one of the Gulf Arab state’s largest listed developers, said on Monday it had bought a vacant plot of land in Riyadh, Saudi Arabia, for 659.28 million riyals ($175.8 million). It did not give the name of the seller of the 2.22

Emaar Properties H1 net up 12%
(The Gulf Today - 01/08/2016)

Global developer Emaar Properties recorded a robust increase of 12 per cent in net profit to Dhs2.475 billion ($674 million) in the first six months (January to June) of 2016, compared to the net profit of Dhs2.205 billion ($600 million) during the same

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