Qatar Plans New Housing for 32,000 Workers

• Thursday, 10th November 2016
• by Karim Mohy

Qatar plans to build new housing for 32,000 expatriate workers, aiming to improve accommodation and living conditions.

Saudi Arabia to Open Labor Offices in Move Seen Eliminating Brokers

• Thursday, 10th November 2016
• by Karim Mohy

The Saudi Cabinet on Monday approved the opening of labor attache offices in several countries.

Union Properties 3Q 2016 Net Profit Drops 71% y-o-y

• Thursday, 10th November 2016
• by Karim Mohy

Union Properties (UPP), a Dubai-based real estate developer, announced profits of AED 32.3 mn for the third quarter of 2016, marking a drop by 71% compared to the same period last year, according to a statement (pdf) sent by the company to the DFM on Wednesday.

Eshraq Announces Three New UAE Projects

• Thursday, 10th November 2016
• by Karim Mohy

Abu Dhabi -based developer Eshraq Properties announced on Tuesday three major projects in the UAE: Jumeirah Village Circle, the Marina Rise Project and The Gateway.

Dubai Water Canal Set to Open Tonight

• Wednesday, 9th November 2016
• by Karim Mohy

The opening ceremony for the Dubai Water Canal will take place on Wednesday evening with Sheikh Mohammed bin Rashid Al Maktoum inaugurating the new waterway.

Dubai Development Plan for Hatta Signed Off

• Wednesday, 9th November 2016
• by Karim Mohy

The development plan for the mountain town of Hatta in Dubai has been signed off on Monday.

Saudi Oger Asks Banks for Freeze on SAR 13 bn Debt Repayment -Sources

• Wednesday, 9th November 2016
• by Karim Mohy

Leading Saudi construction company Saudi Oger has asked banks to freeze repayments on at least SAR 13 bn of debt according to unnamed sources.

Emaar Records Q3 Net Profit Growth of 36% q-o-q

• Wednesday, 9th November 2016
• by Karim Mohy

Dubai-based developer Emaar Properties announced a 36% quarterly increase in net profit in the third quarter of 2016 to AED 1.1 bn.

Oman to Launch Waterfront Project Next Week

• Wednesday, 9th November 2016
• by Karim Mohy

The first phase of the Mina Al Sultan Qaboos Waterfront in Muscat, Oman is set to launch next week.

RAK Properties Reports 187.9% Increase in 9M Net Profit

• Tuesday, 8th November 2016
• by Karim Mohy

RAK Properties, a UAE-based property developer, has recorded a net profit for the first nine months of 2016 of AED 79.15 mn.