• Dubai residential rents edge up in August


    There was a slight increase in the residential rental market in Dubai during August with the apartment rental prices up 24.1 per cent and villa prices up 9.4 per cent on a year-on-year (y-o-y) basis, said a report.

  • Emirates REIT to join global market index


    Emirates REIT, the UAE’s first regulated Shari’a-compliant real estate investment trust incorporated in the Dubai International Financial Centre (DIFC), has been selected to join the FTSE EPRA/NAREIT Global Emerging Index.

  • Wasl leases 98pc of shops in major Dubai project


    Wasl properties, one of the largest real estate companies in Dubai, has announced that 98 per cent of the retail units in its Dh1.2-billion ($326 million) wasl district Souq project have been leased out.

  • Cluttons names residential markets' head


    Cluttons, the international real estate services company, has appointed Joanna Leverett as head of international residential markets.

  • GCC firms in $30bn Africa infrastructure push


    The GCC companies have provided at least $30 billion in funding for major infrastructure projects in Africa over the past decade, even reaching out to unfamiliar Sub-Saharan markets, said a report.

  • Bahrain to develop newer, wider roads


    Bahrain's Ministry of Works has announced plans to develop new and wider roads, that will be able to deal with the increase in traffic congestion across the kingdom, under a new 2021 strategic plan.

  • UAE to launch second phase of $11bn railway network

    CONTRACT AWARDS SOON
    The UAE's railway developer Etihad Rail is set to secure government funding and award contracts to build the second phase of its $11 billion national rail network, said its acting chief executive officer.

  • Renaissance awards Duqm housing contracts


    Oman-based Renaissance Services, a multinational company, has awarded the two main construction packages for the Duqm permanent accommodation for contractors (PAC) project to S&T and Al Hajiry.

  • 300 exhibitors to showcase at top property show in Dubai


    More than 300 exhibitors from 120 countries are set to showcase residential, commercial and mixed-use units at a top property exhibition in Dubai next year.

  • Saudi Electricity signs $682m deals for Riyadh Metro


    Saudi Electricity Company (SEC) has signed contracts worth SR2.56 billion ($682.5 million) to supply power to the Riyadh Metro, which is currently under construction, the kingdom's state news agency reported.

  • ‘Innovative’ lifestyle project in Dubai unveiled


    The Mohammed Bin Rashid Al Maktoum Foundation (MBRF) has joined hands with Nshama, a newly launched developer, for a value-added lifestyle project in Dubai, UAE.

  • Bahrain breaks ground on $100m corniche upgrade


    A groundbreaking ceremony was held today for a $100-million project to develop King Faisal Corniche into a prime leisure spot for people in Bahrain, both residents and visitors alike.

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Construction News

Dubai residential rents edge up in August

There was a slight increase in the residential rental market in Dubai during August with the apartment rental prices up 24.1 per cent and villa prices up 9.4 per cent on a year-on-year (y-o-y) basis, said a report....


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