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.

Majid Al Futtaim to Start Work on Mall of Oman

• Tuesday, 8th November 2016
• by Karim Mohy

UAE-based property developer and manager Majid Al Futtaim Properties has broken ground on the Mall of Oman.

Reduction in Downpayment on Saudi State-Facilitated Mortgages Could Benefit Thousands

• Tuesday, 8th November 2016
• by Karim Mohy

A recent reduction in the minimum downpayment required for state-facilitated mortgages in Saudi Arabia could benefit hundreds of thousands of applicants who currently do not own their home.

Saudi Aims to Pay Dues Owed to Contractors by Year’s End

• Tuesday, 8th November 2016
• by Karim Mohy

Saudi Arabia's Council of Economic, Development Affairs on Monday decided to immediately start paying back dues to private construction and development companies, aiming to finish payments by the end of the year.

Aldar Records 16% Gain in Net Profit y-o-y

• Tuesday, 8th November 2016
• by Karim Mohy

Abu Dhabi-based property development and management company Aldar Properties announced a 16% gain in net profits in the third quarter of 2016 compared to the same period in 2015.

Empower Completes Cooling Infrastructure for Damac Project

• Monday, 7th November 2016
• by Karim Mohy

Emirates Central Cooling Systems Corporation (Empower), a UAE-based company, has finished the district cooling infrastructure project network at Damac Towers by Paramount.

CBRE to Become Property Manager of Andalusia Gardens

• Monday, 7th November 2016
• by Karim Mohy

Global real estate advisory and management company CBRE has been appointed as property manager and marketing advisor for Andalusia Gardens, an extension to Bahrain's Andalusia Complex.

Emaar Malls Records 16% Increase in Q3 Net Profit

• Monday, 7th November 2016
• by Karim Mohy

Emaar Malls, a shopping and retail business majority-owned by Emaar Properties, reported an increase of 16% in its net profit to AED 1.42 bn in the first nine months of 2016, up from AED 1.22 bn in the same period last year, according to an earnings release on Sunday.

Abu Dhabi Sees Slide in Rents: CBRE

• Monday, 7th November 2016
• by Karim Mohy

Residential rents in the emirate of Abu Dhabi declined by 2% quarter-on-quarter while rents for office space as well as hotel occupancy rates also declined, according to CBRE's Q3 2016 Marketview for Abu Dhabi.