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Orlando receives record 75 million visitors in 2018

Orlando, Florida, has solidified its position as the top tourism destination in the United States with a 4.2 percent increase in the number of visitors to arecord 75 million in 2018, a statement said.


Union Properties reappoints Al Ramz Capital as liquidity provider

Union Properties, the leading property developer in the UAE and master developer of MotorCity, has reappointed Al Ramz Capital, a subsidiary of Al-Ramz Corporation Investments and Developments PJSC, as its liquidity provider following approval from Dubai Financial Market (DFM).


Nearly one third of UAE residents now pay less rent than one year ago

The proportion of UAE residents paying less rent than a year ago rose to nearly a third in the first quarter of this year. That’s according to the yallacompare Consumer Confidence Tracker for Q1 2019, which surveyed more than 1000 UAE residents on the state of their finances and attitudes towards work. It follows similarly sized surveys conducted throughout each quarter of the year.


Damac Properties Q1 net profit plunges 94% to Dh31 million

Damac Properties’ net profits for the first quarter of 2019 plunged 94 percent to Dh31 million, down from Dh484 million recorded in the first quarter of 2018, the developer’s reports show. It’s total revenue for the quarter also declined 53 percent to Dh896 million, with booked sales grew 15 percent t0 Dh1.2 billion, compared to Dh1 billion recorded in Q4 2018.


Swiss-Belhotel International to Launch 4 New Brands in the Middle East in 2019

Swiss-Belhotel International said, it will introduce four new brands in the Middle East in 2019, including Grand Swiss-Belresort (Bahrain), Swiss-Belsuites (Bahrain), Swiss-Belboutique (Kuwait) and Swiss-Belinn (Oman and Qatar) with openings scheduled over the next few months.


Omniyat sells penthouse in Dubai for US$20 million

Omniyat, a Dubai-based developer, has sold a penthouse in One Palm project for US$20 million (Dh73 million) – the second-most expensive penthouse sold in the history of UAE real estate!


Aldar reports 26% decline in Q1 profits to Dh493 million

Aldar Properties, Abu Dhabi’s leading property development, management and investment company, has reported a 26 percent decline in net profits to Dh493 million, compared to the first quarter of 2018, ‘owing to legacy other income events’, the developer said in a statement.


Al Hamra Real Estate Development offers affordable living in Ras Al Khaimah

Al Hamra Real Estate Development, the Ras Al Khaimah-based real estate development and investment company, is offering the most competitive rental rates for an elegant lifestyle in the heart of the emirate across its world-class residential developments in Al Hamra Village.


Al Futtaim announces 22,000 square metres expansion to Cairo Festival City Mall

Al Futtaim Group, developer of Festval Cities and shopping malls, has announced a new 22,143 square metre expansion to Cairo Festival City Mall.


Emirates Group reports 44% decline in profits to US$631 million in 2018-19 financial year

Emirates Group, which operates Emirates Airline – the world’s largest international carrier – reported a 44 percent decline in profits to US$631 million (Dh2.3 billion) in 2018-19 financial year ending March 31, 2019, despite achieving a 7 percent growth in revenue to reach US$29.8 billion (Dh109.3 billion).