Wednesday, September 27, 2017 1:36 AM

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MEASA assets to hit $678 bn by 2020

Total Assets Under Management (AuM) by fund managers in Middle East, Africa, and South Asia region‘s (MEASA) key financial centres (India, South Africa, Nigeria, Egypt and the GCC countries) was US$436.5 billion at the end of 2016, according to a Dubai International Financial Centre (DIFC) report.

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Dubai to host Floating Venice Resort in 2020

Dubai, the city of superlatives and unique attractions, will host a floating paradise with underwater restaurants and facilities that will offer breath-taking views of corals and marine life. Titled the Floating Venice, the project will host 12 restaurants including three underwater – offering a host of entertainment to residents and visitors.

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Dubai to replace faulty facades

Dubai Land Department (DLD), through its regulatory arm the Real Estate Regulatory Agency (RERA), has begun the process of replacing non-fire-resistant building facades across Dubai.

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Nakheel assesses construction proposals for Dh670 m RIU resort

Dubai’s master developer Nakheel said, it is assessing 10 proposals for the construction of its new, 800-room RIU beachfront resort at Deira Islands, with the lowest bid at Dh363 million. The all-inclusive beachfront resort – a joint venture between Nakheel and leading Spanish hospitality group RIU Hotels and Resorts – is set for delivery in 2020, with a construction contract awarded by the end of 2017.

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Foreign investors inject Dh113.6 billion in Dubai’s real estate in 18 months

As much as Dh113.6 billion or 75.23 per cent of Dh151 billion investment in Dubai’s real estate were done by foreigners in 18 months from January 2016 till June 2017, Dubai Land Department’s latest report shows, while the rest or Dh37.4 billion or 24.77 per cent pumped in by the UAE nationals.

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Istanbul to host 107-Story TV Tower

Fabrication of the façade of Istanbul’s 365.5-meter Küçük Çamlica TV Tower (KCTV) is underway. The façades of the GBP36 million (US$46.7 million) structure were designed by UK-based Newtecnic, whose innovative concept allows inhabitable spaces to be attached to the whole of the tower’s core.

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Emaar announces 20th Address hotel project – the Address Fashion Avenue in Downtown

Emaar Hospitality Group, the hospitality and leisure business of Emaar Properties, announced the roll-out of its 28th hotel project – the Address Fashion Avenue, located directly opposite the iconic Burj Khalifa and linked to the Fashion Avenue in The Dubai Mall that is currently being expanded.

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IGO announces commitment to invest in projects worth Dh2 billion by 2020

Invest Group Overseas (IGO), a Dubai-based developer, said it will invest in projects valued at more than Dh2 billion leading up to 2020, starting with a Dh500 million residential tower – IGO 101 – to be developed at the Jumeirah Lake Towers. With construction to begin in December 2017, IGO 101 is scheduled for completion in Q4 2020.

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Emaar announces Dubai Hills Mall at new development

Emaar Properties, developer of the world’s tallest tower Burj Khalifa, on Sunday, announced the launch of Dubai Hills Mall, a family retail district located in the heart of Dubai Hills Estate, the 11 million square metres master-planned green oasis set in easy proximity to Al Maktoum International Airport and Downtown Dubai.

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Emaar to list UAE business, reports 15% growth in H1 net profits to Dh2.8 bn

Dubai-based Emaar Properties, developer of the world’s tallest tower Burj Khalifa, said, it recorded a 15 per cent growth in net profit to Dh2.83 billion (US$772 million) during the first six months (January to June) of 2017 (H1 2017), compared to Dh2.47 billion (US$674 million) during the same period last year. Revenue for the first half of the year grew 8 per cent to Dh7.86 billion (US$2.14 billion) over H1 2016 revenue of Dh7.257 billion (US$1.97 billion).

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