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Drake and Scull in advanced negotiation with Wahat Al Zaweya for Dh 1 billion contract

Drake and Scull International (DSI), a Dubai-based contractor, said, its general contracting subsidiary, Gulf Technical Construction Company (GTCC), is negotiating for Dh1 billion worth of contracts with Wahat Al Zaweya in Al Ain, and has also been awarded as part of the negotiations a Dh250 million contract to develop the Nasayem project in Wahat Al Zaweya.


Eagle Hills and Shurooq to develop 3 projects worth Dh2.7 billion

His Highness Sheikh Dr Sultan bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah, on Tuesday unveiled three real estate projects to be developed in Sharjah, collectively worth a total of Dh2.7 billion. The trio of projects are the result of a joint venture between Sharjah Investment and Development Authority (Shurooq) and Eagle Hills, an Abu Dhabi-based private real estate investment and development company.


Dubai Economy issues 19,877 new licenses in 2017

The number of active businesses in Dubai rose to 148,842 in 2017, including 19,877 new trade licenses issued in 2017, according to the Department of Economic Development, the trade licensing body of Dubai Government.


Azizi Developments to commence construction of Phases 3 and 4 of Azizi Riviera in February

Azizi Developments, one of the leading private developers in the UAE, said, construction of Phases 3 and 4 of its flagship project, Azizi Riviera, will commence in February 2018. Construction of Phases 1 and 2 of the Dh12 billion canal development in Meydan One is well underway.


Union Properties to sell full stake in Emicool

Union Properties, one of the leading real estate developers in Dubai which underwent a massive management restructuring following a boardroom shake-up, said, it is in its final stage of selling its entire stake in its district cooling subsidiary Emirates District Cooling (Emicool).


Lootah Real Estate acquires new property

Lootah Real Estate Development, a Dubai-based property developer, announced the acquisition of a new residential property in International City with 100 apartment. The acquisition comes in support of the company’s 2020 strategy which focuses on growing the existing assets portfolio and expanding its market share in the region.


Dubai Government expects 3.5% growth in the emirate’s Dh376.8 billion GDP in 2018

Dubai Government expects its Dh376.8 billion (US$102.67 billion) economy to grow at 3.5 per cent in 2018, slightly lower than the UAE economic growth, pegged at 3.9 per cent, according to a news release issued by the Department of Economic Development (DED), the government’s trade licensing body.


Dubai Property Festival to boost realty sector

Dubai Land Department, the real estate registration, promotion and regulatory arm of Dubai Government, announced the launch of Dubai Property Festival (DPF), a three-day sales and purchase event to be held at the Dubai World Trade Centre April 9 – 11, coinciding with a series of events in Dubai aimed at attracting global investment to the UAE.


Dubai real estate transactions grow 6% to Dh285 billion in 2017, compared to Dh269 billion in 2016

Property and land transaction value increased 6 per cent to Dh285 billion (US$77.65 billion) in 2017, up from Dh269 billion recorded in 2016, according to Dubai Land Department.


Azizi Developments to deliver seven projects in Al Furjan in 2018

Azizi Developments, one of the fastest growing developers in the UAE, said it will deliver seven projects at Al Furjan in the first half of 2018, ahead of planned schedule. The seven serviced apartment projects boast a combined value of Dh1.8 billion.