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Drake & Scull wins approval for capital reduction
(Trade Arabia - 28/09/2017)

Drake & Scull International (DSI), a regional market leader in engineering and construction services, has won regulatory approval to reduce its share capital by 75 per cent and also to list 500 million new shares. The reduction of DSI’s share capital

RAK Properties to complete Northbay Residence tower by 2020
(Construction Week Online - 27/09/2017)

Comprising one-, two-, and three-bedroom apartments, as well as duplex units, the tower will be surrounded by amenities such as restaurants, shopping options, parks, walkways, and gardens. Designs for the development's one- and two-bedroom apartments

Arabtec subsidiary wins Dh196 million Emaar project
(The National - 26/09/2017)

Arabtec Holding, the UAE’s top-listed contractor, said its wholly-owned subsidiary Target Engineering Construction Company (Target) won a Dh196 million construction deal for a project in Dubai’s Downtown area. The contract awarded by Emaar Properties,

Drake & Scull makes management changes as part of restructuring
(The National - 26/09/2017)

Drake & Scull International (DSI) has made a series of appointments and management changes as the Dubai-based contractor pursues a capital restructuring programme. DSI hired Ziad Makhzoumi, a former chief financial officer of builder Arabtec and an

Drake & Scull announces key management revamp
(Trade Arabia - 25/09/2017)

Drake & Scull International (DSI), a leader in engineering and construction services, has announced a series of strategic appointments and changes as part of its efforts to restructuring the organisation and streamline business operations. The ongoing

Emaar to develop Dubai Harbour hotel and residences
(The National - 21/09/2017)

Emaar Properties will build 10 million square feet of new residences and a new Address hotel project as part of Dubai Harbour, the emirate’s major new waterfront development unveiled in January. The developments make up about half of the Dubai Harbour

Ezdan Holding Group ranked 2nd top Arab brand
(The Peninsula - 21/09/2017)

Ezdan Holding Group (EHG) has been ranked as the second top real estate developer in the Arab world, based on the annual ratings by Forbes Middle East magazine. The ranking evaluates the most active brands in the real estate sector, one of the major

Damac Maison Royale The Distinction opens in Dubai
(Trade Arabia - 19/09/2017)

Damac Hotels & Resorts, the hospitality arm of Damac Properties, has announced the official launch of the luxurious Damac Maison Royale The Distinction, comprising well-appointed hotel apartments in the heart of Dubai’s prestigious Downtown district. The

Emaar seeks nod to offload 30% development unit stake via IPO
(Gulfnews - 19/09/2017)

Emaar Properties said it has sought a nod from its board in a meeting scheduled on September 20 to offer 30 per cent stake in its development unit through a primary offer. The board will also discuss its entry into a financing arrangement with First Abu

Emaar plans first Vida hotel project in Egypt
(Trade Arabia - 17/09/2017)

UAE-based Emaar Hospitality Group is set to develop Vida Marassi Marina, a major leisure development with 120 hotel rooms and suites offering a refreshing 'marina tourism' experience. This marks the first project under its Vida Hotels and Resorts brand

Eshraq Properties to acquire Reem by year-end
(Gulfnews - 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. Fawad Tariq-Khan, general manager at Shuaa Capital, the

Union Properties opens mall, hotel management units
(Trade Arabia - 14/09/2017)

Dubai-based Union Properties has announced plans to diversify its operations and revenue sources by opening two new fully-owned subsidiary companies: Union Malls and Al Etihad Hotel Management. Union Malls will provide retail and leisure options in Union

Deyaar unveils $272m mixed-use development
(Trade Arabia - 14/09/2017)

UAE-based Deyaar Development has announced the launch of South Bay, a premium residential, serviced apartment and hotel property to be developed at an estimated cost of Dh1 billion ($272 million) in Dubai. Located in Business Bay, one of Dubai's most

Aldar sells Phase One of $653m waterfront project
(Trade Arabia - 14/09/2017)

Aldar, a leading real estate developer in Abu Dhabi, UAE, has sold out the first phase of its Dh2.4-billion ($653.2 million) new waterfront development, Water’s Edge, on Abu Dhabi’s Yas Island, at the Cityscape Global in Dubai. A 2,255-home masterplanned

Aldar brings in UNB for Water’s Edge
(Gulfnews - 13/09/2017)

Aldar Properties has signed an agreement with Union National Bank to provide escrow services for buyers at its Water’s Edge project, the Yas Island’s first mid-market property and which comprises 2,255 apartments. According to Talal Al Dhiyebi, Chief

Seef Properties Donates BD3,000 to Bahrain Deaf Society
(bizbahrain - 13/09/2017)

In line with its ongoing Corporate Social Responsibility efforts towards supporting local charitable initiatives, Seef Properties, the leading real estate development company in the Kingdom of Bahrain, donated BD3,000 to Bahrain Deaf Society. The

Damac chairman optimistic on Dubai property sector
(Trade Arabia - 12/09/2017)

Dubai’s maturing property sector is entering a new cycle of growth thanks to positive economic indicators as well as the increasing size and volume of new projects being announced across the UAE, said Damac Properties chairman Hussain Sajwani. Damac’s

Union Properties to tap debt market for its Dh8bn project
(The National - 12/09/2017)

Union Properties (UPP), a Dubai-listed developer, is considering tapping the debt market with a bond issue or raise finances through bank loans to fund the construction of its Dh8 billion (US$2.18bn) MotorCity development masterplan, firm’s chairman said

Emaar shines in Forbes' Top 100 real estate list
(Trade Arabia - 11/09/2017)

Leading UAE master developer Emaar Properties has clinched the top spot in the list of leading 100 real estate companies in the Arab world which has been compiled by Forbes Middle East. The list was made up of the region’s most successful listed and

Drake & Scull chairman resigns
(Arab News - 11/09/2017)

Drake & Scull (DSI) on Sunday said that Majid Saif Al-Ghurair, company’s chairman, has resigned from his position. The Dubai-listed company, in a short statement to the bourse, said that Al-Ghurair has resigned from the chairmanship and membership of the

Damac awards $952m GCC project contracts
(Trade Arabia - 07/09/2017)

Damac Properties, a leading luxury real estate developer in the Middle East region, has awarded more than 370 contracts worth Dh3.5 billion ($952 million) since January this year. The contracts included construction, supplier and consultancy services

Emaar hospitality unit to operate Maldives resort
(Trade Arabia - 06/09/2017)

UAE-based Emaar Hospitality Group has announced its expansion into South Asia with a contract to operate Address Madivaru Maldives Resort + Spa, a beachfront resort set in a private island in the Indian Ocean, only 20 minutes by seaplane from Male

Aldar launches Dh2.4b waterfront development on Yas
(Gulfnews - 05/09/2017)

Aldar Properties announced the launch of Water’s Edge, a new Dh2.4 billion waterfront development on Yas Island targeting middle income families. The development will have 2,255 homes with full or partial views over water and with recreation facilities,