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REAL ESTATE

Dewa seeks consultants for water reservoir project

May 19, 2018

Dewa seeks consultants for water reservoir project

Dubai Electricity and Water Authority (Dewa) has invited tenders from leading consultancy services for the design and construction of a 30-million-gallon water reservoir in the Hatta region of the emirate.

Dubai's government utility had early this year awarded a consultancy contract worth Dh6.3 million ($1.7 million) for the designing and construction of two water reservoirs in the emirate.... Continue Reading

Grand Mall opens 52nd outlet in Musallah, Sharjah

May 19, 2018

Grand Mall opens 52nd outlet in Musallah, Sharjah

Grand Hypermarket, a retail group under the Regency Group opened its 52nd outlet Grand Mall, Mussalla, Sharjah. The inauguration was done by Ruler office chairman, Sheikh Salem Bin Abdul Rahman Al Qasimi in the presence of Sheikh Mohammed bin Abdullah Al Qasimi, Sheikh Abdullah bin Mohammed Khalid Ahmed Al Qasimi, Sultan Al Shamsi, Indian actor Suniel Shetty, DM Health care CMD Padmasree Dr. Azad Moopan,"... Continue Reading

Grand Mosque capacity limited due to constructions

May 17, 2018

Grand Mosque capacity limited due to constructions

The Grand Mosque will have a maximum capacity of 18,000 worshippers this year; a limited number compared to previous Ramadan seasons due to expansion works of the First Ring Road which will prevent setting up tents and utilizing open years in the mosque’s perimeters to absorb extra worshippers, according to sources inside the Ministry of Awqaf and Islamic Affairs. Meanwhile, Minister of Justice and"... Continue Reading

Al Habtoor announces exclusive promotion for GCC nationals at ‘The Residence Collection’

May 16, 2018

Al Habtoor announces exclusive promotion for GCC nationals at ‘The Residence Collection’

Khalaf Ahmad Al Habtoor, Founding Chairman, Al Habtoor Group has launched a special promotion for GCC nationals for the sale of homes at UAE’s luxury landmark in the heart of Dubai, The Residence Collection at Al Habtoor City.

For a limited period of time, Al Habtoor is extending a special payment plan for apartments purchased"... Continue Reading

NREC announces KD 4 million net profit for Q1 2018

May 16, 2018

NREC announces KD 4 million net profit for Q1 2018

National Real Estate Company (NREC), a leading regional asset manager and developer headquartered in Kuwait with $2 billion in projects under development in the UAE, Egypt and other markets, today announced its financial results for the first quarter of 2018.

The Company recorded an operating revenue of KD 5.9 million, an EBITDA"... Continue Reading

Gemini Properties' chief makes it to Forbes ME list

May 16, 2018

Gemini Properties' chief makes it to Forbes ME list

Gemini Property Developers, a Dubai-based real estate developer, said its Chairman Sudhakar Rao was honoured with the Top Indian Business Leader award at a gala event held in Dubai recently.

The Forbes Middle East brings together the most influential experts and heads of the region’s top companies through exclusive events in the region.

Rao was one among the 150 Indian business"... Continue Reading

Aldar Properties' Q1 net profit up 4pc

May 15, 2018

Aldar Properties' Q1 net profit up 4pc

Aldar Properties, a leading property development company in Abu Dhabi, UAE, said it has registered a net profit of Dh668 million ($182 million) for the first quarter, up 4 per cent from Dh641 million ($174 million) for the same period in 2017, thus reflecting a strong start to the year.

Announcing the results for the first three months, the top Emirati developer said its revenue surged to Dh1.5"... Continue Reading

Egypt and Kuwait Plan Belt and Road Initiatives

May 14, 2018

Egypt and Kuwait Plan Belt and Road Initiatives

The Afro-Asian Economic Council (AAEC), founded in 2017, has launched a project to link Egypt, Kuwait and other North African countries to China's Belt and Road Initiative.

Head of the AAEC Tareq bin Eid Al Obeid said last week that the project will attract investments to Egypt and other North African countries ranging from"... Continue Reading

Britons invest $8.47 billion in Dubai real estate

May 13, 2018

Britons invest $8.47 billion in Dubai real estate

British nationals have invested $8.47 billion (Dhs31.1 billion) in Dubai’s real estate during the last four years (2014-2017), according to the statistics released by Dubai Land Department, DLD. The United Kingdom is one of the largest investment source markets for Dubai’s real estate.

Following the Brexit vote in 2016 and subsequent move for separation from European Union by the"... Continue Reading

Chinese company launches blasting operation of residential project in Kuwait

May 12, 2018

Chinese company launches blasting operation of residential project in Kuwait

China Gezhouba Group Corporation (CGGC) officially launched blasting operation on Thursday on the construction site in the desert region of central Kuwait.

CGGC is the first Chinese company that carried out blasting operation in Kuwait.

With a blasting"... Continue Reading

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