Real Estate Emaar’s overseas units struggle to match home gains Dubai real estate developer Emaar Properties is doing well at home but its international operations – notably in India – are more chequered. Last year, Emaar posted a near 50 percent increase in earnings to AED5 billion ($1.4 billion). Its shares on the Dubai Financial Market are up 5.5 percent so far this year. By […] March 28, 2025
Construction Modon to build industrial zone near Egypt’s Ras El Hekma A joint venture between Abu Dhabi-listed Modon Holding and Egypt’s Elsewedy Industrial Development is planning to build a new industrial zone near the $35-billion Ras El Hekma megaproject. The two companies have signed a letter of intent for the project, state-run news agency Wam reported. The 10 million sq m new industrial zone, located south […] March 28, 2025
Real Estate Mubadala puts more money in US commercial lender Abu Dhabi’s Mubadala Investment Company has increased its investment in 3650 Capital, a US commercial real estate lender. The UAE sovereign fund and California State Teachers’ Retirement System (CalSTRS), a pension fund, two existing investors, have invested $215 million to allow the US lender to broaden its investment products, 3650 Capital said in a statement. […] March 28, 2025
Real Estate Tabreed explores buying Multiply’s cooling business National Central Cooling Company, also known as Tabreed, is exploring a bid for Multiply Group’s district cooling business that could be worth at least $1 billion, two sources with knowledge of the matter told Reuters. Dubai-listed Tabreed is working with Citi on the potential offer for Multiply’s PAL Cooling Holding (PCH), said the two sources. […] March 27, 2025
Real Estate UAE dominates UK overseas mortgage market Property buyers from the Middle East – particularly the UAE – are among the top international clients for UK mortgage brokers, according to new research. About 30 percent of 300 brokers surveyed by investment company Raw Capital Partners said they had arranged mortgages for clients from the Middle East and UAE over the past five […] March 25, 2025
Real Estate Bahrain struggles to fill existing office space as supply grows Bahrain is facing difficulty in filling its available office space even as the kingdom prepares for more supply. Demand for the space is “weak”, with limited interest from existing businesses and new entrants, commercial real estate services and investment provider CBRE said in a report. The Gulf state, the smallest by population in the six-member […] March 25, 2025
Real Estate Dubai moves to formalise real estate tokenisation Dubai is running a pilot scheme that allows for the tokenisation of property title deeds, the first jurisdiction in the Middle East to do this. Tokenisation is the process of creating and trading digital tokens that are backed by real-world assets on a blockchain. It enables direct and verifiable peer-to-peer transactions. Through the process, a […] March 20, 2025
Real Estate Emaar in talks with Adani over $1bn sale of Indian business Dubai real estate developer Emaar Properties is in talks with India’s Adani Group to sell its Indian business for $1.4 billion, according to reports. The billionaire Adani family and Emaar are discussing the structure of a transaction, Bloomberg said, without identifying sources. An agreement could be reached as early as next month. Emaar India started operations […] March 20, 2025
Leisure & Hospitality Kuwait’s Action Real Estate enters US hospitality sector Kuwait’s Action Real Estate Company and Malta-based Corinthia Group have acquired two boutique hotels in a prime location in the US with a 100 rooms, the companies said in a statement. The acquisition of Maison 140 and the nearby Mosaic Hotel in Beverly Hills, California, by the Action-Corinthia joint venture is part of a broader […] March 20, 2025
Real Estate Al Akaria explores new launches after four-fold profit rise Saudi Real Estate Company (Al Akaria) said net profit for 2024 nearly quadrupled amid a rise in property sales and rental income. Profit surged to SAR215 million last year from SAR68 million in 2023 due to higher profit share from associates and a drop in zakat expenses. Revenue rose 10 percent year on year to […] March 19, 2025
Video length: 04:25 VIDEO Real Estate Short-term rentals appeal to Dubai investors The holiday home market is growing rapidly in Dubai, with between 30,000 and 45,000 rental listings now compared to 7,000 in 2017. While they may no longer offer the 10 percent return on investment of a few years ago, rental properties are still an attractive and flexible option for investors, according to Anna Skigin CEO […] March 18, 2025
Real Estate Riyadh adds 10 times as much office space as Dubai Riyadh added the most office space of any Middle Eastern city last year, nearly 10 times as much as its regional rival Dubai. However, the additional supply is unlikely to ease a chronic shortage of prime commercial property in the Saudi capital in the short term. Riyadh, which has a population of seven million, added […] March 18, 2025
Real Estate Dar Global targets Saudi expansion after land deals Dar Global, the international development arm of Saudi-listed Dar Al Arkan, has purchased two land plots in Jeddah and Riyadh for $390 million, advancing expansion plans in the kingdom, according to a statement to the London stock exchange. The acquisitions follow the launch of Trump Tower Jeddah and Neptune villa project in Riyadh, the London-listed developer […] March 18, 2025
Real Estate High demand drives gains in Abu Dhabi real estate Rental and sale prices in Abu Dhabi grew strongly in 2024, driven by tight supply and intense competition in the property market, according to a market survey. Residential rents grew 20 percent in 2024, while sales prices climbed by 11 percent, according to real estate consultancy Cushman & Wakefield Core. Prices for homes in Khalifa […] March 17, 2025
Real Estate Dar Global expands Trump-branded project in Oman Saudi Arabia’s Dar Al Arkan Real Estate Development is upgrading a Trump Organisation golf course in Oman to championship level and expanding an adjacent $4 billion luxury gated community project. Dar Global, the London-listed international arm of Dar Al Arkan, said it added nearly one million square metres of beachfront land to its Aida Muscat […] March 13, 2025
Construction Iraq plans to build one million houses in two years The Iraqi government has set an ambitious target to construct 1 million houses within the next two years to tackle a festering post-war housing crisis, according to an adviser to the prime minister quoted in local media. The government is facing elections in October. The new units would be built within 11 projects and involve […] March 13, 2025
Real Estate Egyptians show sudden interest in Dubai property Egyptians are leading the way in the Dubai property market in terms of the rate of increase of buyers by nationality. In the first two months of this year, the number of Egyptians buying in the Dubai property market more than doubled – up 150 percent – over the same two-month period in 2024, according […] March 11, 2025
Analysis Construction Saudi construction surge draws interest from around the world Brazil’s ProMarmo, a small family-owned supplier of marble, onyx and granite, has just two branches, both in the southern Brazilian state of Rio Grande do Sol. After more than 20 years in business, the company is considering opening its third branch in none other than distant Saudi Arabia. Growing numbers of small construction companies, contractors […] March 6, 2025
Real Estate Saudi city rental yields top the Gulf as demand surges One-bedroom apartments in Saudi Arabia’s West Riyadh and North Jeddah now command the highest rental yields across the Gulf as demand for housing in the largest Arab economy surges. Although rents in Saudi Arabia are still relatively low compared with other countries in the region, they nonetheless grew by more than 10 percent last year. […] February 28, 2025
Analysis Real Estate How Qatar escaped a World Cup property glut Three years on, it is clear that Qatar has by and large avoided what plagued many of its World Cup host predecessors – the big White Elephant. In spite of a rush of building projects to open a slew of new hotels and apartments for the November-December 2022 event, the gas-rich nation was shrewd enough […] February 21, 2025
Real Estate Damac tightens yield on $750m sukuk Dubai developer Damac Real Estate Development has sold $750 million in 3-1/2-year Islamic bond (sukuk), according to a document seen by Reuters on Wednesday. The yield was set at 7 percent, narrower than the 7.5 percent initial price guidance released earlier in the day after the orders surpassed $2.3 billion, the lead bank document showed. […] February 20, 2025
Real Estate Kuwait eases property laws around foreign ownership Kuwait is gradually opening its real estate market to foreign ownership. It has now updated its law to allow entities licensed by the Kuwait Direct Investment Promotion Authority (KDIPA), companies listed on the Kuwaiti stock exchange and licensed real estate funds and investment companies to own property in the country for their operations or for […] February 18, 2025
