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Real Estate

Real estate and property news from the Middle East. All the important stories, exclusive interviews, plus authoritative opinion and analysis

Office Building, Building, Architecture

Masdar Green REIT acquires $254m sustainable real estate

Masdar Green REIT, the UAE’s first real estate investment trust to invest in sustainable real estate assets, has completed the acquisition of property worth AED 934 million ($254.28), raising its portfolio value to AED 1.91 billion, the UAE state-owned WAM news agency reported. The announcement follows a $200 million green loan secured from First Abu […]

Saudi Arabia’s Dar Al Arkan signs deal for Trump project in Oman

Saudi Arabian real estate developer Dar Al Arkan said it signed an agreement with former US President Donald Trump’s company to use the Trump Brand for its $4 billion project in the Gulf state of Oman that includes a golf course, hotel and villas. The regulatory statement issued on Sunday did not disclose the financial […]

Investcorp Corsair will continue to focus on transportation, logistics and associated infrastructure subsectors

Bahrain’s Investcorp plans Saudi real estate deal before year-end

Bahrain-based Investcorp plans to close a Saudi real estate deal before the end of the year, senior executives at the alternative investments firm said on Thursday. The acquisition of warehouses in Saudi Arabia will be announced in the coming weeks, the executives told Reuters, without giving any details on the size of the investment. Investcorp, […]

Four Seasons Bahrain

Four Seasons heads to Bahrain as branded home market booms

Four Seasons has unveiled plans to build bespoke homes in Bahrain Bay as the demand for branded residences gathers pace in the Middle East. The hospitality company has teamed up with Bahrain-based real estate developer Bayside Developments for the Four Seasons Private Residences Bahrain Bay project. Buyers of the 112 homes will be able to […]

Office space

Riyadh prime offices almost full as foreign firms flock to Saudi

Unprecedented demand for prime office space in Riyadh has taken Grade A office occupancy levels close to 100 percent, driven by a massive increase in the number of foreign investment licences issued this year.  More than 4,400 licences were issued in the second quarter of 2022, a rise of almost 700 percent on the same […]

Suit, Formal Wear, Clothing

Nick Candy eyes Dubai and Saudi… ‘for work and pleasure’

British billionaire property magnate Nick Candy is all lit up on our Zoom call, speaking from his family office in Mayfair, London. “Dubai… I just love it,” he says, of the emirate he visits at least once a month – sometimes with his actor wife Holly Valance and their two daughters, but also to attend […]

Emirates REIT proposes $400m sukuk refinancing

Emirates REIT said on Monday it was again proposing to its bondholders to refinance its $400 million sukuk due next month, and an ad hoc group of investors who last year opposed a proposed exchange offer said it would support it. Emirates REIT, a sharia-compliant real estate investment trust, rescinded in June 2021 an offer […]

Emaar Q3 profit rises 46% to $408m on Dubai property boom

Emaar Properties, Dubai’s biggest listed property company, on Monday posted a 46 percent rise in net profit in the third quarter of 2022 to AED1.5 billion ($408.40 million), beating estimates. Results at Emaar, known for building the world’s tallest tower, the Burj Khalifa, were boosted after Dubai began its recovery early last year from the […]

Egyptian investors look to real estate to hedge against inflation

Egyptian investors are looking to real estate as a hedge against inflation and a depreciating pound, while landlords are increasingly pricing in US dollars. Merna Arafat, an analyst at Beltone, a Cairo-based brokerage, said that many investors had begun moving into property in March this year when the government started allowing the Egyptian pound to […]

Nakheel secures $4.6bn from Dubai banks to build more islands

Dubai developer Nakheel has secured 17 billion dirhams ($4.63 billion) from local banks for projects including its latest collection of manmade islands, the company said on Tuesday. The state-owned developer best known for Palm Jebel Ali said the financing came from a syndicate of three Dubai lenders: Emirates NBD, Mashreq Bank and Dubai Islamic Bank. […]

Saudi developer Dar Al Arkan plans to list its Dubai subsidiary

Saudi-listed Dar Al Arkan Real Estate Development Company plans to list its Dubai subsidiary on an international stock exchange. In a statement published on the Saudi Exchange (Tadawul), the developer said it was considering several strategic and capital markets options for its international property business in Dubai, which may include listing. The developer recently completed […]

Saudi exports

Saudi non-oil export orders rise at fastest pace for a year

New export orders for Saudi Arabia’s non-oil sector in October increased at their fastest rate for nearly a year, the Riyad Bank Saudi Arabia Purchasing Managers’ Index (PMI) survey revealed on Wednesday.  This demand helped the PMI, which gauges business confidence, to climb 0.6 percentage points to 57.2 in October.  A reading above 50.0 shows […]

Tecom

Rising business occupancy boosts profits for Tecom

Tecom Group, the Dubai-based operator of business parks and free zones, announced today that third quarter revenue rose by 12.5 percent year-on-year, driven by rising occupancy levels. Revenue reached $133.4 million as demand rose across the Tecom portfolio for office, warehouse and worker accommodation. The company, which is owned by the investment vehicle of Dubai’s […]

Egypt’s SODIC offers to buy Orascom Real Estate for $125m

Egyptian property developer SODIC has offered to buy Orascom Real Estate for $125 million, the residential compound builder’s parent company Orascom Development Egypt said on Tuesday. Abu Dhabi’s Aldar Properties and state holding company ADQ bought a controlling stake in SODIC late last year, and the purchase of Orascom Real Estate would further expand their […]

Building, Water, Vacation

Six Senses sells 75% of branded Dubai units ahead of 2024 debut

The first Six Senses Residences in Dubai is planned for 2024 as the CEO of the global luxury hospitality brand reports demand from affluent and existing UAE residents. Neil Jacobs said the progressing construction of Six Senses Residences The Palm, alongside a 61-room hotel, represents a “new milestone for the brand”.  “The property price growth […]

Buying an apartment is now seen as a more attractive option than paying a landlord

Dubai tenants jump on property ladder as rents soar

Dubai has seen an increase in end-user homeowners as its property market matures and begins to move away from the speculators and flippers of the boom days before 2008. Surging rental rates and expats opting to live in the UAE longer have also made the jump from tenant to homeowner increasingly more attractive, industry experts […]

Dubai revival sees developer Deyaar’s Q3 profit surge 72%

Dubai property developer Deyaar on Thursday reported a surge in third quarter profit while revenues rose 72 percent over the same period on the back of a revival in the emirate’s real estate sector. The company made a profit of AED36.3 million ($9.88 million) in the third quarter from AED8.1m in the same period last […]

The Dubai Land Department reported a property deal worth $163 million on Palm Jumeirah earlier this week

Indian billionaire buys $163m mansion on Dubai’s Palm Jumeirah

India’s Reliance Industries chairman Mukesh Ambani has purchased a luxurious mansion for $163 million (AED 598.72 million) on Palm Jumeirah, Bloomberg reported, citing people familiar with the matter. Ambani bought the mansion last week from the family of Kuwaiti tycoon Mohammed Alshaya. The latest villa purchase is close to a $80 million mansion which he […]

Chair, Furniture, Building

Arab buyers eye prime New York properties as Russians exit market

The wealthiest city in the world has seen a sharp rise in interest from Middle Eastern property buyers, replacing the void left from the exodus of super-rich Russians. A spokesperson for real estate firm Knight Frank told AGBI that the number of enquiries for New York property from Middle Eastern customers had increased by 50 […]

Trump Dubai
  • EXCLUSIVE

Trump-branded properties in Dubai report 100% growth

Donald Trump may be the subject of an ongoing criminal investigation in the US, but his name is still big business in Dubai, where properties in the Gulf city bearing his brand name have appreciated by nearly 100 percent and continue to command strong demand. The former US president is under multiple probes, including the […]