Union Properties has officially broken ground on its flagship AED2 billion ($544 million) project - Mirdad - being set up in Dubai Motor City. Spanning 356,931 sq ft, it will feature a total of 1,087 residential units along with premium amenities.
Dubai-based Mashriq Elite Real Estate Developments has broken ground on its fifth residential project - Floarea Skies - in Jumeirah Village Circle (JVC). The 23-floor development will feature 192 residences with a mix of studios, one and two-bedroom units.
Abu Dhabi is entering a major growth phase with the development profile of a far more established branded residences market, with 92% of projects in its pipeline now standalone, said a top advisory firm. Abu Dhabi now has 31 branded home projects, of which five stand fully completed.
UAE's etisalat has launched a strategic project to develop and expand digital infrastructure capacity within the UAE and abroad to over 500 terabits per second (Tbps) by 2030.
Aldar, a leading developer in the region, has reported a nine-month net profit before tax of AED6.8 billion ($1.85 billion), up 43% year-on-year (YoY), while net profit after tax rose 30% YoY to AED6 billion ($1.633 billion).
Qatar's Public Works Authority (Ashghal) has announced that work has begun on the Hamad General Hospital, being developed at a total value of QR1.2 billion ($325 million), in co-operation with the Ministry of Public Health. The project is set for completion and handover in the third quarter of 2029.
Global hospitality group Four Seasons has partnered with UAE-based investment company Bright Start for the launch of its new premium project - Four Seasons Private Residences - in Dubai. H&H Development will be overseeing the construction of the new 52-unit Four Seasons residential offering.
Thailand-based PTT Exploration and Production Public Company has partnered with Italy’s integrated energy major Eni to set up a joint venture company, Seela Energies B.V., that will hold their participating stakes in the Ghasha Concession Project offshore Abu Dhabi.
Archi, Georgia’s leading real estate developer, has unveiled the next phase of Archi Grand Avenue, a GEL 2 billion ($770 million) development in capital Tbilisi amid growing interest from GCC buyers in overseas property markets that offer both investment and lifestyle potential.
DP World Foundation (DPWF), the philanthropic arm of DP World, together with Belawan New Container Terminal (BNCT), has marked the ground breaking of an AED3.7 million ($1.01 million) junior high school in Belawan, Medan, Indonesia.
