Abu Dhabi’s Aldar reports 15% rise in Q1 profits

The real estate heavyweight sold 320 units in off-plan developments during the period, helping push profits to $178m. The Abu Dhabi-listed Aldar...

Dubai’s Danube Group posts 83% rise in turnover

Developer expects 15-20% growth this year, and plans 3-4 new real estate projects annually, as revenues hit $1.4bn in 2015. Danube Group...

Dubai to launch property star ratings system

Number of completed projects that will undergo the ratings process stands at over 120,000 units. The Dubai Land Department has announced that...

Saudi Arabia sets rules for tax on undeveloped land

Step aims to address lack of affordable housing, given that up to 50% of land in urban areas remains vacant. Saudi Arabia...

Dubai’s Damac reports 15% slide in profit

Property developer reports $285.9 million profit in the first quarter of 2016. Damac Properties has reported a 15% slump in its first-quarter...

Dubai’s office market sees strong demand – CBRE

Supply of quality and well-located units lagging during first quarter of 2016, report finds. Dubai’s office market continues to see strong demand...

Meraas unveils The Outlet Village mall in Dubai

Discounted shopping destination set to open in third quarter. The Dubai-based real estate developer Meraas has announced details of its latest retail...

Shaza to launch four-star Mysk hotel brand in Oman

Company has secured three other regional deals for the brand – report. Hotel operator Shaza Hotels plans to debut its four-star Mysk...

Emaar Hospitality unveils plan for first Saudi properties

Debut hotel and serviced residence property to span almost 520,000 sq ft. Emaar Hospitality Group has outlined plans for a hotel and...

Emaar net profit jumps 17% in first quarter

Cash dividend of 15% of the share capital was distributed to shareholders. Dubai-based developer Emaar Properties has announced a 17% rise in...

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