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Real Estate Developers Combat COVID-19

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Saudi Arabia to Isolate Dammam Over Coronavirus

Saudi Arabia will isolate the industrial area of Dammam from May 3, preventing entry and exit until further notice, to curb the spread of the new coronavirus, state news agency SPA reports.

COVID-19 to Batter GCC Corporate Earnings in H1: Analysts

GCC corporate earnings will be negatively impacted in the first half (1H) of the year as businesses and the economy have been severely hit by the COVID-19 pandemic, Reuters reports.

Seven Tides Rolls out Support Measures for Tenants

UAE's property developer Seven Tides said its residential, commercial, and retail tenants in Dubai's Discovery Gardens and Ibn Battuta Gate are eligible to receive rent relief measures if they experienced job cuts, salary reductions, or disruptions to their businesses because of the Covid-19 crisis

Saudi Arabia Eases Curfews Nationwide

Saudi Arabia has partially lifted restrictions on April 26 across the country, while keeping 24-hour curfews in the city of Mecca and neighborhoods previously put in isolation

Saudi Malls Exempt Tenants From Rental Payments Amid COVID-19

Saudi Arabia has seen at least four shopping malls granting a rent reprieve to retailers and other tenants due to coronavirus, Zawya reports.

Tenant Negotiations Provided in Dubai Rental Market

Dubai's rental market provides room for tenant negotiations in addition to other incentives

Arabtec Wins AED 210 mn Construction Deal in Abu Dhabi

UAE's Arabtec Holding said its wholly-owned subsidiary Target Engineering has been awarded two key contracts valued at AED 210 mn in UAE

Dubai Sees 10,243 Property Transactions in Q1

Dubai registered a total of 10,243 real estate transactions in the first quarter of 2020

Dubai’s Emaar Sells 80% of Cooling Business

Dubai's Emaar Properties sold its 80% stake in its cooling business in the prime Dubai Downtown area to National Central Cooling Co. (Tabreed) for USD 675 mn

Dubai Announces Lockdown for 2 Weeks Amid Coronavirus

Dubai announced a two-week-long lockdown starting on April 3 to contain the spread of the coronavirus

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