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RAKEZ offers business license for Dh650 per month

Ras Al Khaimah Economic Zone (RAKEZ) has launched a new initiative, Mubader Package, an exclusive business set-up package for fresh graduates – that will allow them to set up business for as low as Dh650 per month.


Arada launches student accommodation cluster with 10% RoI at Aljada

Arada, a Sharjah-based developer, said, it is introducing a new investment opportunity to the Gulf by announcing the launch of Nest, the UAE’s premier integrated student accommodation complex, which will be based at the heart of the developer’s megaproject, Aljada


Turkish citizenship demand in Middle East soars after Ankara slashes investment by 75%

Hundreds of foreigners are looking to buy Turkish citizenship after Ankara sharply reduced the cost in an effort to boost the country’s FDI flow. Price cut from $1 million to $250,000, which is 75 per cent decided last December by the Turkish government has boosted interest in the programme.


Nakheel’s profit dips 22.75% to Dh4.38 billion in 2018

Dubai-based master property developer Nakheel’s net profit declined 22.75 percent to Dh4.38 billion in 2018, compared to Dh5.67 billion reported in 2017.


Dubai Government closes down 13,948 social media accounts for selling counterfeit goods in 2018

The Commercial Compliance and Consumer Protection (CCCP) section in the Department of Economic Development closed down 13,948 social media accounts in 2018 as part of protecting trademarks and the integrity of e-commerce.


Samana Developers completes 100% structure with 60% sold of Samana Greens project

Samana Developers, a Dubai-based boutique real estate developer, today announced that the 100 per cent of the superstructure of its Dh75 million residential Samana Greens project has been completed, which reflects developer’s strong commitment to deliver it on time – Feb 2020.


Union Properties returns to profits with Dh62.33 million net profit in 2018

Union Properties, the UAE real estate developer with a 30-year track record of delivering iconic residential developments, reported a net profit of Dh62.33 million for 2018, marking a 19 percent increase in the company’s annual income over 2017, when the company registered a loss of Dh2.37 billion. Meanwhile, shareholder equity surged by Dh452 million compared to 2017.


GCC projects market slumps 22% to Dh356 billion in 2018

The value of projects awarded in the GCC last year fell by 22 percent to a new low of just $97 billion (Dh356 billion) according to the latest data from MEED Projects, the region’s leading projects tracking service


Wasl Properties leases 90% of its Wasl Crystal

Wasl Properties, a subsidiary of Wasl Asset Management Group, announced the leasing of 90 percent of its units at its Wasl Crystal buildings in Al Quoz within three months. This is a testament to the facilities and consistent quality of living that was is offering tenants in the area.


Emaar Properties reports 30% increase in FY 2018 net profit to Dh7.21 billion

Emaar Properties has reported a net profit of Dh7.21 billion (US$1.96 billion) in 2018, a 30 percent increase over the net profit of Dh5.56 billion (US$1.51 billion) recorded in 2017, prior to considering the effect of the IPO of Emaar Development and forex movement. Revenue in 2018 was Dh25.69 billion (US$6.99 billion), a growth of 37 percent over FY 2017 revenue of Dh18.75 billion (US$5.10 billion).