Property

Dubai’s Damac says property sales boosted by foreign buyers

Firm’s managing director says foreign demand in first quarter of 2015 was not significantly affected by the fall of the Euro. Dubai’s...

Dubai’s Majid Al Futtaim to use bonds, sukuk for expansion

Retail conglomerate rules out IPO as it looks to expand in Saudi Arabia and Egypt. The Dubai-based retail conglomerate Majid Al Futtaim (MAF)...

Cayan, Shuaa to set up fund for $272m Dubai project

Gulf-based developer and investment firm to back construction of twin-tower development of 700 residential units and hotel apartments. The Gulf-based developer Cayan...

Dubai Torch fire: 81 of 676 apartments still uninhabitable

Oman Insurance Company says it will consider making advance payment to homeowners affected by fire. Oman Insurance Company, the insurer of the...

Dubai’s Majid Al Futtaim appoints new CEO for property arm

Bertrand Julien-Laferriere takes the helm at Majid Al Futtaim Properties. Majid Al Futtaim has appointed Bertrand Julien-Laferriere as CEO for its property...

Saudi property shares hit by decision to tax undeveloped land

Real estate sector down 2.86% on move to resolve housing shortage. Shares in Saudi property firms sunk on Tuesday following a cabinet decision...

Abu Dhabi’s Aldar raises $163m from Khalifa City plot sales

All 281 land plots of the 690,00sqm Al Merief development sold in a week, property developer says. Aldar Properties, the Abu Dhabi-listed...

Dubai’s Emaar denies rumours Alabbar plans to quit

Shares in the property developer had fallen to a three-month low on speculation its chairman is leaving. Emaar has strongly denied rumours its chairman...

Towell Construction wins $55.8m contract for Oman residential projects

Contractor to build two residential zones in Sultanate’s latest integrated tourism complex. Towell Construction and Co LLC (TCC) has been awarded two...