Wednesday, August 23, 2017 4:26 AM

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Nakheel reports Q1 2017 net profit of Dh1.48 billion

Dubai property developer Nakheel reported a net profit of Dh1.48 billion for the first quarter of 2017 – a time when it handed over 412 land and built form units to customers, with its retail, hospitality and residential leasing businesses continuing to perform solidly.

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Hydra Village is 70% ready

Hydra Properties has announced the progress of two of its developments, Hydra Avenue and Hydra Village, at the Cityscape Abu Dhabi property exhibition.

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Damac Properties launches Golfotel, a 2,000 room hotel cluster

Damac Properties, a Dubai-based property developer, launched Golfotel, a premium 5-tower hotel property surrounded by a golf course in Dubai.

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Dubai to classify property developers

Dubai Land Department, the emirate’s land and property registry, is planning to classify the real estate developers based on their performance and delivery track record, in order to boost the sector and help attract investment, a top official said. Sultan Butti bin Mejren, Director General of the Dubai Land Department, told Gulf Property that his department is working on the plan that will help identify the good developers based on their performance.

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United Engineering awarded construction contract for Deira Mall

Master developer Nakheel has awarded a Dh 4.2 billion construction contract to United Engineering Construction LLC to build Deira Mall. The mall, with 4 million square feet of leasable area, will be the biggest in Dubai in terms of retail space.

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Wasl Properties releases Dar Wasl Apartments

Wasl Properties, the leading property management company and a subsidiary of Wasl Asset Management Group, has launched Dar Wasl apartments following the release of the villas at the same project last year.

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Bullish Developers to Showcase Residential Projects at Abu Dhabi Cityscape

UAE property developers are in a bullish mood as they look forward to showcasing a range of major residential projects to investors at Cityscape Abu Dhabi later this month.

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Dubai orders $327m highway expansion

Dubai government has approved a $327 million (Dh1.2 billion) highway expansion project that will ease traffic between Dubai and Abu Dhabi while easing traffic movements near Dubai Expo and Dubai South region where the world’s largest greenfield airport with a design capacity to handle 160 million passengers annually is being built

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Bluewaters works 75% complete

Meraas, developers of the Bluewaters Island project, said, construction at Bluewaters is over 75 percent complete. Construction has transitioned from structural work to the distinctive façades on the island in preparation for the handover of the unique Bluewaters residences in Q1, 2018.

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Gulf transport project value hits Dh1.39 trn

The total value of 1,381 active transport projects in the Gulf region rose 1 per cent in a month to February 2017 to Dh1.39 trillion ($379.7 billion) from January 2017, according to BNC Networks – the largest and most comprehensive project research and intelligence provider in the Middle East and North Africa region

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