• Emaar Properties’ H1 net profits fall 35.48% to Dh2 billion due to Covid-19

    Dubai, UAE Emaar Properties’ net profit for the first half of 2020 plunged 35.48 percent to Dh2 billion mainly due to Covid-19 pandemic and subdued demand, down from Dh3.1 billion recorded in the corresponding period last year. The developer of Burj Khalifa – the world’s tallest tower recorded revenues of Dh9.03 billion (US$2.46 billion), despite […]

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  • Arada awards Dh423 million construction contract to build 16 residential buildings in Dh24 billion Aljada township

    Sharjah, UAE Sharjah-based real estate developer Arada said it has awarded a Dh423 million (US$115.25 million) construction contract to Best Building Contracting Company to develop 16 apartment blocks in East Village, the second phase of Sharjah’s Dh24 billion mixed-use district, Aljada. The news comes at a time when most developers have slowed down or halted […]

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  • Nakheel secures Dh600 million worth of sales in past 4 months

    Dubai, UAE Nakheel, a world leading property developer has sold almost 250 properties with a total sales value of over Dh600 million in the last four months, with ready-to-occupy villas most in demand. Top of home-buyers’ shopping lists are Nakheel’s family villas at Nad Al Sheba, where a third phase of ready-to-move-into properties has just […]

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  • Nakheel sells villas worth Dh223 million during Covid-19 lockdown

    Dubai, UAE Master developer Nakheel said, it sold villas worth Dh223 million in the last three months, “as buyers look for more indoor and outdoor living space to adapt to the ‘new normal’.” “Particularly in demand are ready-to-occupy, family villas at Nad Al Sheba, one of Dubai’s most sought-after residential locations for UAE nationals, where […]

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  • China suffers sharp decline in construction output, but a recovery is underway, says GlobalData

    Dubai, UAE Construction output growth in China is expected to grow by just 1.9 percent in 2020 due to the severe impact of COVID-19, according to a latest report by GlobalData, a leading data and analytics company. The disruption in the first quarter of 2020, when the outbreak was at its peak and the lockdown […]

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