Damac shares soar 15% on Dubai market as Q2 profits triple

The developer, which listed on the Dubai Financial Market in January, announced a 20% dividend in cash and shares. Shares in Damac...

Two new residential communities get green light in Dubai

Sheikh Mohammed approves plans for 8,000 plots, including 2,800 villas in Wadi Safa and Tai. Two new residential communities comprising a total...

Dubai set to break new records with world’s tallest residential tower

Planned 711m-tall tower to be part of Meydan One development, which will also include world’s longest indoor ski slope. Dubai is looking...

Strong dollar ‘hits Dubai luxury property market’

Dip in interest from investors in the Eurozone and Russia sees 4.5% drop in prime residential prices, Knight Frank says. The strong US...

JLL: Riyadh property prices decline, rents pick up in Q2

New mortgage regulations in Saudi Arabia continue to negatively impact the sales market, consultancy says. Riyadh apartment prices fell by 1% and villa...

Two Emaar Misr execs resign after disappointing Egypt IPO

Walid El-Hindi and Ahmed Fathallah have left the Dubai property firm’s Egyptian subsidiary. Two senior executives at Egypt’s Emaar Misr have resigned,...

Dubai’s Emaar Properties reports 16% rise in profits

Boost comes on back of higher international sales, growth of malls and hospitality business. The Dubai-listed developer Emaar Properties reported a net profit...