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UAE Nationals invest $4.1 billion in 4,510 deals in Dubai real estate in six months

UAE nationals tops the list of investors in Dubai’s real estate, investing Dh15 billion (US$4.1 billion) with 4,510 transactions, according to the Dubai Land Department (DLD), the emirate’s land registry.The total value generated by GCC investors increased by 16 per cent compared to the same period last year, with 7,665 transactions worth Dh21.7 billion. Saudi nationals ranks second place with a total of 1,936 transactions worth Dh4 billion.

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Majid Al Futtaim reports 4% increase in H1 profits to Dh2 billion

Majid Al Futtaim, the leading shopping mall, communities, retail and leisure pioneer across the Middle East, Africa and Asia, reported a 4 per cent growth in its earnings before interest, tax, debts and amortisation (EBITDA) to Dh2.0 billion during the first six months of 2017 with overall group revenue expanding by 4 per cent to Dh15.7 billion.

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Nakheel reports 10.5%. decline in half-yearly profits to Dh2.64 billion

Nakheel, a leading Dubai-based master property developer, reported a 10.5 per cent decline in net profits to Dh2.64 billion for the first six months of 2017, down from Dh2.95 billion recorded in the corresponding period in 2016.

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Gulf Sotheby’s brokers Dh100m villa sale at Emirates Hills

Gulf Sotheby’s International Realty, alongside its strategic partner, Bellevue, recently closed the highest property transaction ever recorded at Dh100 million for an Emirates Hills villa. The villa spans across 42,000 square feet and houses eight en-suite bedrooms along with entertainment areas and is regarded as one of the most well-built and intricately designed luxury homes in Dubai.

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UAE’s Per Capita Energy Consumption Among Highest in the World: IMF

Per capita energy consumption in the UAE is amongst the highest in the world, according to the International Monetary Fund (IMF).

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UAE Economy expected to bounce back: IMF

The UAE’s economic activity is expected to strengthen gradually in the coming years, the International Monetary Fund (IMF) said in a latest report

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