An annual decline in rental rates of 11% on average, with the most significant drop recorded in Sharjah and, is seen across the Northern Emirates.
Author: Paromita Dey
Damac Properties announced that its 34-storey Tower 108 building in Jumeirah Village Circle (JVC) is in the final stages of completion.
Dubai-based developer, Nakheel, made a net profit of AED1.55bn in the first quarter of 2018 up by 5% as compared to Q1 2017.
HE Sheikh Sultan bin Tahnoon Al Nahyan, Member of the Executive Council, inaugurated TALEX, the regions most highly automated aluminium extrusion plant.
Raysut Cement Company has appointed Ashley Bryan as the general manager of Pioneer Cement Industries, effective April 2018.
Azizi Developments has awarded contracts worth AED102mn to Tasmeem Building Contracting (TBCI) to develop its latest Meydan Avenue projects.
Nakheel is planning a new partnership with Austrias largest hotel chain, Vienna House, to create a $160mn, 600-room beachfront resort at Deira Islands.
Conares, the second largest private steel manufacturer in the UAE, has inaugurated its 12 pipe mill in Jebel Ali Free Zone (JAFZA).
Real estate developer, Dubai Properties, launched a new phase of its Villanova community, Amaranta 3, in Dubailand, scheduled for completion in Q4 2020.
Dubai-based developer, Emaar Development, recorded a 62% growth in net profit to AED819mn during Q1 (January to March) 2018 compared to AED506mn in Q1 2017.