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Dubai’s property brokers earn Dh1.3 billion commissions in nine months

Dubai Land Department (DLD), said, 6,200 real estate brokers generated Dh1.3 billion worth of brokerage commissions in Dubai’s real estate market between the beginning of January 2017 and the end of September this year.

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Dubai Sustainable City saves 1,402 tonnes of carbon dioxide emissions in a year from October 2016

Dubai Sustainable City said, it has saved 1,402 tonnes of carbon dioxide emissions in a year from October 2016, through water recycling, electric mobility, and solar energy production.

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DEWA installs solar panels on 453 buildings as part of Shams Dubai

Dubai Electricity and Water Authority (DEWA) said, it has connected 453 photovoltaic (PV) installations on the roofs of residential, commercial and industrial buildings in Dubai, with a total capacity of about 18.7 MW, under the Shams Dubai initiative launched by DEWA to encourage customers to install solar photovoltaic panels on the roofs of their premises to generate electricity from solar power and export any excess to the power grid. These numbers are expected to increase in the future to eventually cover all buildings in the Emirate by 2030.

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Dubai announces Dh2.7 bn first regional e-commerce free zone, CommerCity

A Dh2.7 billion e-commerce free zone will be established in Dubai, its developers, Dubai Airport Freezone Authority (DAFZA) and Wasl Properties, announced on Saturday. This is slated to be the first such e-commerce free zone in the Middle East and North Africa region.

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India targets US$100 billion foreign investment to speed up economic growth

Foreign Direct Investment (FDI) from the UAE in to India is expected to jump manifold this year from US$675 million in 2016-17, with the latest US$1 billion investment by Abu Dhabi Investment Authority (ADIA), officials say. The UAE is the 10th largest FDI source market for India with cumulative FDI reaching US$4.76 billion in the last 17 years from April 2000 till March 2017.

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Lootah Real Estate seeks bids for Dubai South project consultancy

Lootah Real Estate Development, one of the region’s prominent modern real estate developers, sought bids for the master plan design of its new joint venture with Dubai South.

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Geopolitics and a tighter global refining system and a drop in OPEC cohesion may push oil lower

Geopolitics and a tighter global refining system and a drop in OPEC cohesion may push oil lower, to a latest report by Bank of America Merill Lynch said. Global crude oil prices, particularly Brent, have firmed up more than expected. “We see Brent averaging $54 this quarter and $52.50/bbl in 1H18, compared our previous forecasts of $50 and $49.50/bbl, respectively. We also adjust WTI to average $49 this quarter, relative to our previous forecast of $47/bbl,” said a bank spokesperson.

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Al Qabdah gets Dh400 million contract to build Alandalus Apartments at Jumeirah Golf Estates

Jumeirah Golf Estates (JGE), the world-class residential golf destination offering luxury homes and leisure facilities among two internationally-acclaimed championship golf courses, has awarded Al Qabdah Building Contracting a contract worth Dh400 million for its mid-market luxury residential community, Alandalus.

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IHG signs management agreement for new Holiday Inn & Suites in Dubai Business Bay

InterContinental Hotels Group (IHG), one of the world’s leading hotel companies, has signed a management agreement with Kingston Holdings International Limited to develop a new Holiday Inn and Suites in Dubai Business Bay. The signing will complement IHG’s hotel pipeline in the area, which includes a Hotel Indigo, Crowne Plaza and an InterContinental Residences, and anchor the company’s position as one of the leading operators in the Business Bay area.

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Growth in Dubai’s non-oil private sector loses momentum

Dubai’s non-oil private sector growth loses momentum, according to the latest Emirates NBD Dubai Economy Tracker Index – a composite indicator designed to give an accurate overview of operating conditions in the non-oil private sector economy. “September data signalled a sharp improvement in business conditions in Dubai’s non-oil private sector, driven by steep expansions in output and new business. That said, the rate of growth eased since August,” it said in a statement.

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