Dubai Residential REIT, a shariah-compliant real estate investment trust, said it has won approval from the shareholders for the distribution of AED550 million ($150 million) cash dividends for H2 2025, thus reflecting its strength in the REIT’s portfolio and confidence in Dubai’s residential leasing market.
The Saudi Industrial Export Company (SIEC) has announced the signing of an supply agreement with GTronics & Significa Company for a key project in Syria. The scope of work includes delivery and implementation of single-phase and three-phase smart electrical meters in the country.
Abanos, a specialist in large-scale fit-out projects across the Mena region, has secured the contract to deliver the fit-out and joinery works for Palace Residences Creek Blue, a premium residential development by Emaar located within the vibrant waterfront destination - Dubai Creek Harbour.
UAE-based Azizi Developments said it has signed an agreement with Hyprlift, a US-based innovator in advanced vertical transportation systems, to explore the potential application of ropeless elevator systems within its selected project developments across Dubai.
Saudi-based Umm Al Qura for Development and Construction Company has announced the extension of two reservation agreements with Mousa Abdulaziz Al Mousa & Sons Real Estate Holding Group for the sale of two plots within its premium Masar Destination in Makkah.
Saudi developer First Avenue has signed an agreement with Jadwa Al Shorfa Real Estate Fund for a mixed-use project in the capital Riyadh featuring a mix of commercial, residential and office units. The project, Capital Avenue - Al Rayyan, will come up on a 38,950 sq m area at the intersection of the Eastern Ring-Makkah Khuris Road.
Dar Al Majed Real Estate Company (Al-Majdiah) has signed a contract worth SAR77 million ($20.48 million) with Emarna Contracting Company to implement a new residential development in Riyadh’s Al‑Nada District.
Aldar, a leading developer based in the UAE, has committed AED100 million ($27.2 million) to the “Mother of the Nation Endowment for Orphans” initiative, launched by the Endowments and Minors’ Funds Authority – Awqaf Abu Dhabi.
A number of houses in the Sitra area of Bahrain were damaged as a result of Iranian drone attack late last night which left many injured, according to the kingdom's Ministry of Interior. Earlier in the day, a water desalination plant and a university building were targeted.
Dubai's ruler has issued a new law aimed at establishing a clear legislative framework to ensure high safety standards for individuals and property. Effective June 1, the new law also aims to strengthen safety standards at venues and events in support of Dubai’s tourism and leisure sectors.
