Major developers out to lure Abu Dhabi’s property and asset investors maintain ready-made quality infrastructure and attractive payment plans are now key to closing land and villa sales with the UAE capital’s increasingly shrewd buyers. Held under the patronage of His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, Cityscape Abu Dhabi, which runs at Abu Dhabi National Exhibition Centre (ADNEC) from April 16-18, will feature two prominent new-to-market entries will be out to capture sales with strong infrastructure-and-payment pitches. Leading the drive will be Tilal, the…
Author: Kasun Illankoon
Jumeirah Lakes Towers premier residential development, The Residences, JLT, is nearing completion for handover to owners according to Signature Developers. Situated in one of Dubai’s most popular residential and commercial districts, the tower comprises of 80 plush condominiums consisting of two, three, four and five-bedroom apartments and full-floor penthouses, all classified into three collections namely Monogram, Autograph and Signature. The residential units are located on the upper floors of the tower, atop the Taj Hotel’s upcoming property, with each home featuring a panoramic glass pod, sky terrace or balcony designed to bring the stunning vistas of the outside into the…
Dubai Property Prices See Marginal Decline in the First Quarter of 2019 – Dubai Q1 2019 Property Market Report by Bayut.com With notable projects by trusted builders such as Emaar, Meraas and Dubai Properties grabbing the attention of the global market, both the off-plan and secondary market in Dubai have started off on a fairly positive note in the first quarter of 2019. Search trends show that interest remains high on luxury destinations such as Dubai Marina, Downtown Dubai and Palm Jumeirah, all of which feature in the list of top 10 most popular areas with users. There has been…
Gulftainer, the world’s largest privately owned independent port operator based in the UAE, celebrated the signing of its first customers for the newly introduced sea cargo clearance service, Sharjah Port of Trade (S.P.O.T.). Within a month of the launch, the company has secured four customers for S.P.O.T. that serves as an inland extension of the Gulftainer-operated Khorfakkan Container Terminal (KCT). The unique S.P.O.T. facility is located at the crossroads of the E311 highway and Maliha Road, providing unparalleled connectivity between Sharjah and Dubai with substantial cost and time savings for customers. The GALEX service (GLX), offered collaboratively by Emirates Shipping…
A whopping 78.5 percent jump in sale of the number of residential units has boosted Danube Properties’ market share of off-plan sales to 10.6 percent in 2018, compared to the 5 percent in 2017. The company last year sold a total of 1,869 residential units, according to its annual report. Among the total number of properties sold by Danube Properties, 89 were ready-to-move-in while the rest 1,780 units were off-plan properties. The sales value of 1,869 units increased by 19.26 percent to Dh978 million last year, compared to the sales value of 1,047 units worth Dh820 million in 2017, the…
Roads and Transport Authority (RTA) has signed a contract extending the operation and maintenance of the Dubai Metro with the British Serco Group until September 2021. The new contract covers the operation & maintenance of the Dubai Metro Red Line Extension Project (Route 2020). This extension spans 15 km and connects 7 stations (5 elevated and 2 underground), and the test-run of the service is expected to start in February 2020. The Dubai Metro lines currently have a network length of 75 km, which will increase to 90 km with the Red Line expansion and will have over 120 trains…
His Highness Sheikh Dr. Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, launched ‘Sharjah Sustainable City, the first urban mixed-use project in the emirate, which meets the highest standards of green economy and environmental sustainability. It is the outcome of a strategic partnership between Sharjah Investment and Development Authority (Shurooq) and Diamond Developers, a leading sustainable communities developer in the UAE. The AED 2 billion project is spread across 7.2 million sqft, and is strategically located in Sharjah near Al Rahmaniya area, easily accessible from the Sharjah International Airport and Sharjah University City. Upon completion, it…
ISG, a leading international construction services company with significant operations in the Middle East, has announced its best-ever financial performance, just three years after the business was taken into private ownership. Published headline figures for 2018 show that turnover at the global construction services business, has breached £2 billion for the first time in the company’s 30-year history at £2.2 billion, posting £38.5 million profit before tax and a £1.4 billion forward order book. £2.2 billion turnover (£1.7 billion 2017) £38.5 million underlying profit before tax (£28.2 million 2017) £77.7 million net cash position at year end (£63.9 million 2017)…
Sobha Realty, the leading premium real estate developer, registered a record AED500 million in sales bookings for Q1 2019. Highlighting the strong investor interest in Sobha Realty’s residential launches, the company’s sales from January to March 2019 are 33 per cent over the target of AED375 million per quarter. Last year, Sobha Realty announced its intention of generating up to AED1.5 billion (US$408.4 million) in turnover in 2019, increasing the target by two-thirds to AED2.5 billion (US$680.7 million) in 2021. In a bid to take the business public and boost revenues, the company aims to more than double its…
Fast becoming one of the most attractive technology hubs in the Middle East, Bahrain has marked a new milestone with the entry of its first property technology (proptech) company, Estater. Estater joins a thriving cadre of businesses benefiting from Bahrain’s advanced ICT infrastructure. A revolutionary real estate technology concept, the Estater app offers an intuitive platform for listing, sharing, finding or managing a property. The app operates as an extension to Estater’s real estate advisory offering, utilising sophisticated GIS mapping to provide market intelligence for developers, investors and financiers. Owing to its extensive regional database, the company boasts a 20 per…