News / Middle East

Egypt One of Brightest Spots: GlobalData

Egypt is deemed one of the region's "brightest spots," where construction is expected to expand by an annual average of 11.3% between 2019 and 2023.

Four Seasons Resort Dubai Uncovers Newly-Revamped Suites

Four Seasons Resort Dubai at Jumeirah Beach has completed its recent room renewal program by rolling out of 11 newly-renovated Imperial suites.

Morocco’s Real Estate Market Slows Down in 2019

Morocco's real estate sector, or the second-largest job provider sector in the North African country, is facing a slow down during the current year amid a notable economic downturn.

Dubai’s AED 1.2 bn Nakheel Mall to Open Late November

The AED 1.2 bn Nakheel Mall in Dubai’s Palm Jumeirah will open after four years of construction on November 28, coinciding with celebrations for the UAE’s 48th National Day.

NUCA, Al Manara Ink Deal for New Compound in West Cairo

New Urban Communities Authority (NUCA) has inked a partnership contract worth EGP 1.3 bn with Al Manara for Urban Development to establish “Green Land” compound in the 6th of October city, west Cairo

Middle East, Africa Report Declines in Hotel Pipeline: STR

The US-based hospitality sector analytics provider STR announced a 5.7% year-on-year (YoY) dip in the volume of rooms in the underway projects' final phase in the Middle East region last October, with Egypt coming last on the high performers list for having 4,976 keys underway, marking 2.9% of existing supply.

Azizi Developments Launches Mirage in Dubai Studio City

UAE's private developer Azizi Developments announced on November 11 the launch of Mirage in the upcoming Dubai Studio City.

UAE Real Estate Prices Down for 4 Yrs: Central Bank

The UAE's central bank has confirmed that the country’s real estate sector continues to endure a downward trend in the 2018 prices of residential and commercial properties for four consecutive years, owing to the rising housing supply volume in Dubai and Abu Dhabi "partially in preparation for Expo 2020."

Nasdaq-Listed Huazhu Group Acquires Deutsche Hospitality

Chinese hotel operator Huazhu Group has reached an agreement to acquire all shares of German-based hotel group Deutsche Hospitality through the former's wholly-owned subsidiary China Lodging Holding Singapore

TRSDC Awards Design Contract for New Red Sea Airport

The Red Sea Development Company (TRSDC) has awarded UK-based architectural firm Fosters + Partners the design contract for a new international airport at The Red Sea project, the former developer's anticipated tourism destination in KSA.

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