Tuesday 16 August 2022

Saudi Ma’aden net profit up 85pc in Q2; sales hits $3.6bn

Saudi Arabian Mining Company (Ma’aden), the kingdom’s mining champion, has recorded solid results for the second quarter netting a 85% jump in its net profit which surged to hit SR4 billion ($1.06 billion), while its sales for the period rose 95% to SR11.9 billion ($3.16 billion).


Ellington, Sol to develop new Jumeirah residential project

Ellington Properties, a leading design-led boutique developer in Dubai, said it has partnered with Sol Properties, the real estate development arm of Bhatia Group, to jointly develop a new residential project in Jumeirah Village Circle (JVC), under the Ellington brand.  


Emaar Properties' H1 revenue surges to $3.6bn

Leading UAE developer Emaar Properties has recorded significant increase in the first half profitability, underpinned by robust property sales and growth in the performance of recurring revenue businesses.   Led by robust performance of its core property develop


Emaar Development records highest property sales of $4.14bn

Emaar Development, the UAE build-to-sell property development business majority-owned by Emaar Properties, achieved its highest property sales during the first half (January to June) of 2022 underpinned by recent successful launches creating value for the


Emaar to acquire Dubai Creek Harbour for $2.04bn

Emaar Properties has announced that it would fully acquire Dubai Creek Harbour, a major development located along the historic Dubai Creek waterfront, from Dubai Holding for a consideration of AED7.5 billion to be paid equally in cash and shares of Emaar Properties.  


The Ellinikon Experience Centre Offers immersive experience

Lamda Development, a leading real estate developer, investor, and asset manager in Greece, has launched of The Ellinikon Experience Centre offering an interactive look at The Ellinikon, a sustainable and smart large-scale urban development in Athens, Greece.   T


Dubai logs highest real estate transactions in 12 years in July

Dubai recorded in July 7,092 realty sales transactions worth AED21 billion ($5.72 billion), which is the best start for the second half of the year in the past 12 years, according to Property Finder, Mena’s leading PropTech firm.   Comparing year-on-year p


Azizi extends deal to install Hyundai elevators at Park Avenue

Azizi Developments, a leading private developer in the UAE, has extended its deal with Bin Ham North Ocean Elevators for the supply and installation of Hyundai elevators across three buildings in Park Avenue, located in Dubai's MBR City.    Bin Ham Nort


Saudi Electricity Co secures $3.56bn funding facilities

Saudi Electricity Company (SEC), Saudi Arabia's premier electricity service provider, today signed an agreement to obtain a USD-denominated $3 billion international syndicate facility from 15 leading regional and international lenders.    Covering a fiv


GMG, DET partner to install water station in Dubai's Al Qudra area

GMG, a global well-being company across the sports, food and health sectors has partnered with the Department of Economy and Tourism (DET) to install a water station in Al Qudra as part of the ‘Dubai Can’ initiative. The partnership is part of GMG’s commitment t

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