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Gensler to master plan Lootah Real Estate’s new 10,000-strong community at Dubai South

Lootah Real Estate Development, one of the region’s prominent modern real estate developers, has appointed global architecture firm Gensler to manage the master plan development for its 1,150,548 square feet project in Dubai South's Residential District.

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ENBD REIT announces improved occupancy at Burj Daman

ENBD REIT Limited, the Shari’a compliant real estate investment trust managed by Emirates NBD Asset Management Limited, has announced total portfolio occupancy of 88 percent. This high occupancy level has been driven by ENBD REIT’s success in leasing its flagship assets, including Burj Daman in Dubai International Financial Centre (DIFC), as well as the strategic acquisition of assets with 100 percent occupancy on long-term leases.

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Union Properties reports net loss of Dh2.3 billion in 2017

Union Properties, one of the leading real estate developers in the UAE, reported a net loss of Dh2.3 billion for the 12 months ending December 31, 2017, compared with a net profit of Dh211 million in the corresponding period of last year.

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Drake & Scull returns to profitability with Dh656 million revenues in Q4 2017

Drake and Scull International (DSI), which went through a recapitalisation and ownership restructuring exercise last year, returned to profitability with 11 percent increase in revenues to Dh656 million and profits reaching Dh0.7 million in the fourth quarter of 2017.

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Middle East could automate 20 million jobs, worth US$366 billion in wage income

An estimated 45 percent of existing jobs in the Middle East could be automated, according to McKinsey & Company’s latest report, The Future of Jobs in the Middle East, launched at the World Government Summit.

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Middle East could automate 20 million jobs, worth US$366 billion in wage income

An estimated 45 percent of existing jobs in the Middle East could be automated, according to McKinsey & Company’s latest report, The Future of Jobs in the Middle East, launched at the World Government Summit.

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UAE's Mars mission hits new milestone with final design

The final designs of the Hope Probe, the Arab World’s first interplanetary mission were unveiled in Dubai on Sunday. Details of the much-discussed Mars 2117 plan, which aims to create the first human settlement on Mars, and UAE’s astronaut programme, which will train Emiratis in space exploration, were also discussed. The MSRBC also released plans of the ‘KhalifaSat’ its third and UAE’s first completely indigenously built-satellite.

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Business conditions in Dubai improve at strongest pace in five months

Business conditions in Dubai appears to have improved at strongest pace in five months, according to a latest monthly economy tracker index by Emirates NBD. “Dubai Economy Tracker Index rises to 56.0 in January, from 54.7 in December 2017 with strongest employment growth in over two years,” the seasonally adjusted Emirates NBD Dubai Economy Tracker Index shows.

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