Construction & Real Estate

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Dealers in the hotels sector estimate the percentage of rented units according to the lease system at 5 percent of all housing units in the vicinity of the Grand Mosque.
New projects in the central area of Makkah has led Saudi and Gulf businessmen to renting out housing units in hotels overlooking the Grand Mosque for long-term lease of up to 15 years

August 8, 2011

DAMAC Properties
07:41 GMT
(press release)

Investors from Kuwait now account for nearly 60% of all properties purchased by GCC nationals in the emirate of Dubai, according to new figures from the UAE Ministry of Finance.

August 7, 2011

The Tent is open to all during the Holy Month and is part of the company’s social responsibility outreach programme
12:21 GMT
(press release)

Msheireb Properties staff distribute free Iftar meal boxes to residents of the Msheireb neighborhood as well as construction workers.

August 3, 2011

Abdulla bin Khalifa Al Khalifa, Chairman of Seef Properties
13:22 GMT
(press release)

Seef Properties (Seef) announced its net profits for the first half of 2011 (ending 30th June), reporting BD 2.25 million in net profit compared to BD 3.28 million for the same period of last year.

August 1, 2011

Falcon Towers
09:40 GMT
(press release)

Sweet Homes Holdings, has announced the handover of the AED 507 million ‘Falcon Towers’ project to the first batch of investors.

Khalid Al Malik, Chief Executive Officer, Dubai Properties Group
08:41 GMT
(press release)

Dubai Properties Group, today announced that Nestlé Dubai Manufacturing has signed a four-year agreement to lease an entire building at Nuzul as premier staff accommodation for its employees.

July 31, 2011

Zainab Sharaf GM of Wasl Property Management
10:35 GMT
(press release)

wasl Properties, a wholly owned subsidiary of wasl announced a unique Ramadan campaign contest that supports the group’s publicly stated goals of community service, charitable and educational support.

The Dubai Mall iPhone Apps
10:12 GMT
(press release)

The unprecedented customer service experience of Emaar Malls Group, the shopping subsidiary of Emaar Properties, can now be accessed via iPhone platforms.

July 27, 2011

Falah Al Ahbabi, General Manager UPC, hands award to Mugheer Khamis Al-Khaili, Director General of ADEC, at the press conference
13:10 GMT

Abu Dhabi Urban Planning Council awarded today Abu Dhabi Education Council the three pearl rating of the Estidama Pearl Rating System.

Drake & Scull
12:07 GMT
(press release)

Drake & Scull International Abu Dhabi has been awarded an AED 170 million contract for the complete Mechanical, Electrical and Plumbing (MEP) works.

Masood Al Awar, CEO of Tasweek
09:40 GMT
(press release)

TASWEEK Real Estate Development and Marketing intends to further strengthen its commitment to build up its quality real estate portfolio with Malaysian partner.

Msheireb IT training
09:34 GMT
(press release)

Msheireb Properties has further strengthened its involvement in the local community with an initiative offering free IT training to construction workers.

July 26, 2011

Downtown Dubai by Emaar Properties
11:36 GMT
(press release)

Emaar Properties, the global developer of iconic projects, recorded a net operating profit of AED 843 million (US$ 230 million) in the first six months of 2011.

July 25, 2011

Niall Mc Loughlin, Senior Vice President, DAMAC Properties
09:07 GMT
(press release)

The Middle East’s largest private luxury developer, DAMAC Properties, has been overwhelmed by the positive response it’s received during a month long summer promotion at London’s iconic Harrods store.

Khurram Jafree, Head of Investment Advisory, Barclays Wealth MENA
07:40 GMT
(press release)

According to a recent study by Barclays Wealth, 100% of Qatari HNWIs indicated that they are currently invested in the real estate sector.

July 21, 2011

Masood Al Awar, Tasweek CEO
09:18 GMT
(press release)

Tasweek Real Estate Marketing & Development, has noted improving confidence level on the UAE’s real estate sector starting in the first half of 2011.