News / Middle East

UAE’s Azizi Launches New Real Estate Brokerage Academy

The academy will feature a full calendar of topic-specific workshops to facilitate educating channel partners on various matters, ranging from construction and engineering to customer service.

Damac Properties Awards AED 886 Mn Contract to Chinese Company

The project comprises 71 floors including 436 units. It has a development value of AED 2 bn.

Saudi Sany Alameriah Partners with Malaysia’s MGB Berhad

Sany Alameriah is a joint venture between Sany and Saudi developer Alameriah.

Maxim Hotels Plans to Open 20 Hotels By 2025

Samir notes that the expansion plan includes the Kingdom of Saudi Arabia, specifically the city of Al-Ula, as well as the continuation of the expansion in the Egyptian market.

Higher Interest Rates to Slow Down Dubai’s Real Estate Market in 2023

Experts speculate that the market is expected to post a steady growth of up to 5% in 2023, down from 11% in 2022.

Aldar Properties, Dubai Holding to Launch 38.2 Mn Sqm Projects

The two companies signed a binding joint venture agreement to develop new communities in three locations across the suburban heart of Dubai.

Dubai Allows Rent Payments by Debit Cards

According to a circular by the DLD, Dubai’s property rental platform, Ejari, is now integrated with the ‘noqodi’ direct debit system (UAEDDS), allowing tenants to have rent payments automatically debited from their accounts. 

US’ McDermott Collaborates on Greece-Africa Power Interconnection

The project is known as Greece-Africa Power (GAP) Interconnector.

Saudi Arabia to Start State Property Renting System Early February

The new system aims to regulate the state’s leasing of real estate through government agencies, based on their needs, as well as rationalize the financial costs of renting, in addition to developing the exploitation of leased real estate by government agencies.

Wall Street Group Inks MoU to Build First Branch in Saudi Arabia

Saeed notes that Wall Street aims to achieve contractual sales worth SAR 1 bn during the first year of the opening of the branch, based on the size of the huge projects in Saudi Arabia.

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