News / Middle East

S&P Predicts Further Decline in Dubai’s Real Estate Prices Until 2020

Dubai real estate prices may drop by 10 to 15 percent over the next two years due to the rising supply, the introduction of value added-tax in the United Arab Emirates (UAE), besides, the current geopolitical risks, S&P Global Ratings’ analysts said

Dubai’s Deira Mall Developed by Nakheel set to be Middle East’s biggest

Deira Mall will have more than 1,000 shops, cafes, restaurants and entertainment outlets across 4.5 mn square feet of leasable space, and a 3.8 mn square feet multi-storey car park

Red House Real Estate Launches 1st Outlet Complex in KSA

Riyadh Outlet Village will comprise a traditional Saudi souq (marketplace) where Saudi designers and skilled artisans would display their products.

Damac Revenues Increase by 4%, Profits Decrease by 25% in 2017

Damac Properties, a real estate developer based in Dubai, has recorded a 4% increase in its revenues to stand at AED 7.5 bn (USD 2.04 bn), as well as a 25% decrease in its net profit to reach AED 2.8 bn (USD 762 mn) in 2017

Emaar Entertainment Unveils VR Park in UAE

Emaar Entertainment, the leisure and entertainment subsidiary of Emaar Properties, unveiled a first-of-its-kind attraction – VR Park

Nakheel Awards AED 79.7 mn Contract for Beachfront Project in Dubai

UAE developer Nakheel has awarded a contract worth AED 79.7 mn to Ghantoot Gulf Contracting to build the exclusive beachfront facility on Dubai’s Palm Jumeirah

Saudi Awards Contracts for Five Palaces to Local Companies

The government of Saudi Arabia has started to award contracts to local construction companies to build five palaces for the king, crown prince, and other senior royals in NEOM, a 26,500 square kilometer business zone in the northwest of the country

Saudi Arabia Awaits Proposals for Water Desalination Project

Saudi Arabia’s Water and Electricity Company (WEC) has issued a Request for Proposals (RFP) to invite pre-qualified companies in the private sector to participate in the Rabigh-3 Independent Water Project (Rabigh-3 IWP) desalination plant.

Saudi Arabia to Invest USD 7 bn in Renewable Energy Projects

The Saudi government is planning to invest up to USD 7 bn in seven new solar plants and a big wind farm by the end of 2018, as part of its national renewables program aiming at deploying 9.5 Gigawatt of renewables to provide 10% of its total energy by 2023

Al Fahed Unveils Seafront Project in Abu Dhabi

UAE-based Al Fahed Development Company has launched its new seafront project in Abu Dhabi

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