First Marriott hotel opens doors in Makkah

Hospitality chain has 19 more projects in the pipeline for Saudi Arabia. The US hospitality company Marriott International has opened the Makkah Marriott...

Mid-market Dubai hotels outperform luxury segment

Cheaper hotels proved more resilient in the first quarter, recording a slight increase in average revenue per room, says Knight Frank report....

Luxury Dubai property rents fall for first time since 2011

Prime property rents inched down by 0.6% in the first quarter of the year, according to Knight Frank. Rents for luxury Dubai...

Emaar boss Mohamed Alabbar to set up real estate institute

Alabbar to set up region’s first non-profit institute providing training in all aspects of property development and management. Emaar Properties founder Mohamed...

Damac Properties launches Paramount Residences in Dubai

The 64-storey project will offer a sky lobby and private Paramount Pictures screening room, developer says. The Dubai-listed property developer Damac has...

Mideast investors ‘to account for 25-30% of prime London property sales’

There is increased appetite for top London real estate since the May 7 election, CBRE says. Middle Eastern investors are expected to...

Egypt: Deal with UAE’s Alabbar to build $45bn capital city ‘is still on’

Ministry of Housing denies report claiming memorandum of understanding with Alabbar’s Capital City Partners had been terminated. Negotiations to build a new...

Abu Dhabi’s Burj Mohammed Bin Rashid wins ‘best tall building’ award

Aldar’s 382-metre tower is recongised by the Council on Tall Buildings and Urban Habitat. Abu Dhabi’s highest tower, the Burj Mohammed Bin...

Dubai forecast to have over 100,000 hotel rooms by 2020

Emirate is leading the Middle East and Africa for new hotel developments, says report. Dubai is leading the Middle East and Africa...

Sale and leaseback transactions rising in Gulf, JLL finds

Transactions gaining popularity as they enable companies to free up cash locked in property assets, consultancy says. The number of real-estate sale...