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Dubai Property

Khuyool buys land in Dubai World Central
Dubai-based property developer Khuyool Investments has announced that it has acquired prime plots of land at a cost of Dhs200m ($54.4m) in Dubai World Central, the 140-square kilometre urban land development being constructed around the world's largest airport. The company also said it aims to launch mixed used projects in Dubai with a total value of Dhs8bn by the end of 2009 and expand in various verticals including construction materials and machineries. The developer has recently initiated talks with major construction companies in China to negotiate future joint ventures.
United Arab Emirates: Wednesday, April 23 - 2008 at 08:21

Union Properties Q1 net up 70%
Dubai-based real estate developer Union Properties has reported that its first-quarter profit jumped 70%. Net income rose to Dhs238m ($64.8m), or 0.086 dirham a share, from Dhs140m, or 0.051 dirham a share, in the year-earlier period, reported Bloomberg.
United Arab Emirates: Tuesday, April 22 - 2008 at 10:46

Mubadala in JV with Singapore firm
Abu Dhabi-based Mubadala Development Company has announced that it has formed Capitala, a real estate joint venture with Singapore-based CapitaLand, reported Gulf News. Mubadala will own a majority stake of 51% in the new company while CapitaLand will own the remaining 49%. Mubadala's CFO Carlos Obeid said the first project for Capitala will be a 1.4 million square metre mixed-use development surrounding Zayed Sports City Stadium in Abu Dhabi at a cost of $4-$5 billion.
United Arab Emirates: Tuesday, April 22 - 2008 at 10:41

Aldar raises Dhs2.2bn with ijara facility
Aldar Properties has announced that it has raised Dhs2.2bn ($600m) through an ijara facility, reported Gulf News. The Ijara facility is equally financed by Abu Dhabi Commercial Bank, Abu Dhabi National Islamic Finance, Badr Al Islami, Dubai Islamic Bank, First Gulf Bank and Noor Islamic Bank.
United Arab Emirates: Tuesday, April 22 - 2008 at 10:32

Zenith Tower unveiled
Sameer Al Mahmoud, a Dubai-based business group has launched Zenith Tower, the company's first freehold property in Dubai. The 45-storey project is being marketed by the company's real estate division, Sameer Al Mahmoud Real Estate Investment, the company said in a statement. Located in Dubailand, City of Arabia, Zenith Tower forms part of the company's Dhs1.2bn ($327m) property portfolio.
United Arab Emirates: Tuesday, April 22 - 2008 at 10:29

Al Futtaim launches $9bn Cairo Festival City
UAE-based Al Futtaim Group has announced plans to develop Cairo Festival City, a three million square metre mixed-use development in the Egyptian Capital. The $9bn development, which will located 20 kilometres southeast of greater Cairo, will be home to a mix of 250 international and regional retail brands and 85 restaurants, cafes and bistros. The project also includes a 400-room luxury hotel and 480 villas.
Egypt: Tuesday, April 22 - 2008 at 07:32

Work underway at Saadiyat Bridge
The 10-lane Saadiyat Bridge that will link Abu Dhabi city with Saadiyat Island reported a 60% completion, cited Gulf News. The bridge lies 500 metres offshore the UAE capital and is being built by an ED Zublin/Saif Bin Darwish joint venture for Tourism Development and Investment Company.
United Arab Emirates: Monday, April 21 - 2008 at 09:28

Maison buys plots in Jebel Ali
Hong Kong-based Maison Limited has signed with Limitless to buy four plots in Phase Four of Downtown Jebel Ali. The company is involved in a variety of industries including private real estate development, fashion, lifestyle products, retail and distribution.
United Arab Emirates: Sunday, April 20 - 2008 at 14:22