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Foundation work set at Damac’s AYKON City
(The Gulf Today - 31/05/2018)

Damc Properties has confirmed the completion of the raft foundation work for tower B at AYKON City, its multi-tower master development. The setting of the major foundation saw over 200,000 cubic feet of concrete poured within a 24-hour period, the same

Tamdeen breaks ground on $824m Kuwait waterfront project
(Trade Arabia - 22/05/2018)

Kuwait’s leading property developer Tamdeen Group has broken ground on its KD250-million ($824 million) Al Khiran Project, The New Pulse of Kuwait, located in the heart of Sabah Al Ahmad Sea City.<br/><br/> Spanning 116,000 sq m upon completion, The New

Union Properties gets shareholders' approval for Dh1bn sukuk
(The National - 21/05/2018)

Union Properties shareholders approved the developer's plans to shore up its finances through the issuance of up to Dh1 billion in sukuk and increase the company’s foreign ownership limit, as the firm continues to re-organise its business amid tough

Ezdan Holding subsidiaries get ISO 9001:2015 certification
(Gulf Times - 21/05/2018)

Ezdan Real Estate and Ezdan Mall Companies, the two subsidiaries of Ezdan Holding Group, have been awarded ISO 9001:2015 certification. The internationally recognised certification is in different domains associated with information technology, quality

Saudi developer Sreco eyes $640m capital hike
(Trade Arabia - 18/05/2018)

Al Akaria Saudi Real Estate Company (Sreco), a leading real estate developer in Saudi Arabia, said it has won approval from the company's board to double its share capital from SR1.2 billion ($320 million) to SR2.4 billion ($640 million).<br/><br/> A

Aldar announces Dhs668m net profit for Q1
(The Gulf Today - 16/05/2018)

Aldar Properties, has announced it delivered a net profit of Dhs668 million for the first quarter (Q1) of 2018, up 4 per cent from same period last year’s Dhs641 million.<br/><br/> Commenting on the results, Talal Al Dhiyebi, Chief Executive Officer of

Drake & Scull International swings to Q1 net profit
(Trade Arabia - 16/05/2018)

Drake & Scull International, a regional leader in engineering and construction services, has achieved an overall net profit of Dh7 million ($1.9 million) for the first quarter, compared to the net loss of Dh839 million ($228 million) declared during the

Damac Properties' Q1 net profit plunges 45pc
(Trade Arabia - 16/05/2018)

Damac Properties, a leading luxury property developer, posted a 45 per cent drop in its net profit for the first three months of the year which fell to Dh484 million ($131.7 million) from Dh880.4 million ($240 million) for the same period last

Seef Properties posts $5.9m Q1 net profit
(Trade Arabia - 15/05/2018)

Seef Properties, a leading integrated real estate company in Bahrain, has posted a net profit of BD2.25 million ($5.93 million) for the first quarter compared to BD2.45 million ($6.45 million) during the same period last year.<br/><br/> Announcing the

Kuwaiti developer URC's net profit down 34pc
(Trade Arabia - 15/05/2018)

United Real Estate Company (URC), one of Kuwait’s leading real estate development companies, has achieved a net profit of KD764,500 ($2.52 million) for the first quarter, down 34 per cent over the same period last year.<br/><br/> Founded in 1973 and

Ehsraq swings back to profit in Q1
(Gulf News - 14/05/2018)

Eshraq Properties on Sunday said it had swung back to profit in the first quarter.<br/><br/> The company reported a net profit of Dh7.75 million for the first quarter 2018 against a net loss of Dh0.95 million in the same period last year.<br/><br/> “The

Emaar launches residential tower in Downtown Dubai
(Trade Arabia - 13/05/2018)

Emaar Development, the UAE build-to-sell property development business majority-owned by Emaar Properties, has launched Grande, a 78-storey residential tower located in the heart of The Opera District in Downtown Dubai. <br/><br/> With this new

Damac Towers by Paramount nearing completion
(Trade Arabia - 13/05/2018)

Damac Properties, a leading luxury property developer, said its four-tower master development Damac Towers by Paramount, is nearing completion, after logging a record 25 million safe worker hours, eight times more than the industry average of 3 million

Arabtec records three-fold growth in Q1 net profit
(Trade Arabia - 11/05/2018)

Arabtec Holding, a leading contractor for social and economic infrastructure, has registered a three-fold growth in its net profit for the first quarter which rose to Dh63.6 million ($17.3 million) from Dh17.6 million ($4.7 million) for the same period

Saudi developer Jabal Omar signs property deal with Shuaa
(Arab News - 09/05/2018)

One of Saudi Arabia’s largest developers, Jabal Omar, has signed a preliminary agreement with the UAE’s Shuaa Capital to jointly manage real estate investment funds in the Kingdom.<br/><br/> The two companies are looking at ways to work together to

Aldar acquires $1bn Abu Dhabi prime real estate assets
(Trade Arabia - 08/05/2018)

Aldar Properties, a leading property development company in Abu Dhabi, UAE, said it has reached an agreement with Tourism Development & Investment Company (TDIC) to acquire a portfolio of prime real estate assets worth Dh3.7 billion ($1.01 billion), in

Aldar Properties donates $9.8m to national research initiative
(Trade Arabia - 07/05/2018)

Aldar Properties, Abu Dhabi’s leading listed property development, investment and management company, has announced a contribution of Dh36 million ($9.8 million) to Sandooq Al Watan, a national initiative launched by prominent Emirati businessmen to

Damac’s Jumeirah tower nearing completion
(Trade Arabia - 07/05/2018)

Damac Properties, a leading player in the UAE luxury real estate market, said work at its 34-storey Tower 108 building in the heart of Jumeirah Village Circle (JVC) is in the final stages of completion as it prepares to begin delivery later this

Damac’s Tower 108 set for completion
(The Gulf Today - 06/05/2018)

Damac Properties announced that its 34-storey Tower 108 building in the heart of Jumeirah Village Circle is in the final stages of completion as it prepares to begin delivery later this year. <br/><br/> Damac has initiated the final delivery and

Ezdan Holding Group posts QR103m net profit for Q1
(The Peninsula - 01/05/2018)

Ezdan Holding Group posted a net profit of QR103m for the first quarter of 2018, compared to QR945m in the same period a year earlier. The Group’s earnings per share (EPS) amounted to 4 dirhams, compared to 36 dirham in the same period last

Emaar Development net profit surges 62pc in Q1
(Trade Arabia - 01/05/2018)

Emaar Development, the UAE build-to-sell property development business majority-owned by Emaar Properties, recorded a 62 per cent growth in net profit to Dh819 million ($223 million) during Q1 (January to March) 2018 compared to Dh506 million ($138

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