Emirates Reit profit up 2.8% in H1

Emirates Reit on Monday announced that its net profit increased by 2.8 per cent to $35.11 million (Dh129 million) for the first half of the year, over the same period last year. The UAE's first regulated Shariah compliant real estate investment trust said that net property income rose 6.4 per cent to $45 million (Dh164 million)...... Read more »

Posted on : 8/18/2015

Mag 5 to launch new phase as 80% of first part sold out

Mag 5 Property Development, or Mag 5 PD, a real-estate company formed jointly by Mag Property Development and MBM Holding, has announced that 80 per cent of Phase 1 of its affordable housing project, Mag 5 Boulevard, has sold out..... Read more »

Posted on : 8/17/2015

DSS sets retailers' cash registers ringing

The consumer electronics industry is witnessing brisk sales during Dubai Summer Surprises (DSS), with local residents, regional visitors and international tourists flocking to take advantage of offers at electronics stores. Leading retailers are recording increased sales and footfall during the ongoing 18th edition of DSS, which kicked off on July 23 and will run until September 5, under the theme '45 days of Summer'..... Read more »

Posted on : 8/16/2015

Mid-market hotels in demand in Dubai

The Landmark Zenath Group is planning to expand its hotel business in the UAE as the hospitality industry in Dubai has exhibited strong performance compared to other markets in the Middle East, according to its senior official..... Read more »

Posted on : 8/15/2015

Dh734m hospital with 250 beds to open in Khalifa City by year's end

<p>Residents of Khalifa City are eagerly awaiting the opening of a 250-bed hospital that will create 800 jobs by the end of the year. </p> <p>The US$200 million (Dh734.6m) NMC Royal Hospital will specialise in 25 fields and will be a first for the area, on the outskirts of the capital. </p>.... Read more »

Posted on : 8/14/2015

$50 million Lebanon Medical City to open in Akkar

<p>Construction works on the Lebanon Medical City have been launched by Bodom Group in Akkar, which will be completed in two years.</p> <p>Abdel Rahim El Bodom, Chairman, said: “We were intending to open a mall, but after conducting a market study, we found it more feasible to change the plan and build a hospital instead.”</p>.... Read more »

Posted on : 8/14/2015

Shift Car Rental invests Dh400m to accelerate growth until 2020

<p>Dubai: Shift Car Rental, a part of AW Rostamani Group, has announced major expansion plans for the next five years.</p>.... Read more »

Posted on : 8/12/2015

BUILDTECH 2015 aims to be the sourcing hub for building materials, construction tech. etc.

<p>Kuala Lumpur, Malaysia - BUILDTECH (Malaysia International Building Materials and Construction Technology Exhibition) will be launched for the fourth time in Malaysia. The exhibition is scheduled to take place at the Putra World Trade Centre from 7 to 10 October 2015.</p>.... Read more »

Posted on : 8/11/2015

China devaluation: cheaper imports to flood UAE markets

Dubai: Chinese exports to the UAE like textile products, clothes, industrial products, along with metal-based products, may become cheaper after UAE’s second-biggest trading partner devalued its currency by the most in two decades..... Read more »

Posted on : 8/11/2015

Dubai property sales top $35bn in H1, defy forecast

The volume of real estate sales in Dubai, UAE exceeded Dh129 billion ($35.12 billion) during the first six months (H1) of this year, compared to Dh57.6 billion ($15.68 billion) during H1 2014, said an industry expert..... Read more »

Posted on : 8/11/2015