Monday 27 April 2015
 
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Damac Q1 net profit plunges 38pc

Damac Properties, a leading luxury project developer in Dubai, UAE, said its first-quarter net profit fell 38 per cent despite surging revenue because a year earlier its bottom line benefited from a big one-off gain from an associate.

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ME buyers pump $14bn in overseas properties

Middle Eastern buyers have invested a total of $14.1 billion outside their home region in 2014, making the Middle East the third largest source of cross-regional capital globally, said a report. Europe remains the preferred market

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Saudi Arabia to expropriate 749 properties

Saudi government is set to expropriate more than 749 properties around the country at a cost of SR466.4 million ($124 million) for future infrastructure projects, said a report. The Ministry of Municipal and Rural Affairs has alre

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Damac unveils bumper week of promotions

Damac Properties, a leading luxury real estate developer in Dubai, UAE, has kicked off its biggest week of pre-summer promotional offers on luxury living experiences since 2010. The company has announced a programme of easy paymen

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MAF Properties names new CEO

Majid Al Futtaim (MAF), the leading retail and leisure pioneer across the Middle East and North Africa (Mena), has appointed Bertrand Julien-Laferriere as the new chief executive officer of its property unit. The appointment will

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Expert calls for real estate sector database in Bahrain

A real estate expert called for a database to list every kind of information on properties in Bahrain to safeguard the rights of buyers, sellers and brokers. Premium eBusiness Solutions managing director Sadaqat Sattar has propose

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Seef Properties posts $23m in profit

Bahrain-based Seef Properties has posted an operating profit of BD8.53 million ($22.6 million) for the first nine months of this year, compared with BD8.27 million ($21.8 million) for the same period last year. The operating profit for

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GFH to acquire US residential assets

Bahrain-based Islamic investment bank Gulf Finance House (GFH) is acquiring two multi-family residential properties in Houston, as part of a “diversified US residential portfolio.” The portfolio will consist of two mul

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Strong demand for bulk lease deals says Aldar

Aldar Properties, Abu Dhabi's leading listed property development, investment and management company, has seen a strong demand for long-term, bulk lease deals from corporate clients. The lease agreements signed with corporate

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Tiger Properties unveils Al Manara Tower in Dubai

Tiger Properties, a leading residential developer in the UAE, has unveiled its latest construction project in Dubai, Al Manara Tower. The new venture is located in the upmarket Jumeirah Village Circle and its total cost is expecte

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