Real Estate

In its quest to become the leading developer of integrated communities, the communities business of Majid Al Futtaim has identified the most powerful drivers behind emotional attachment to urban developments and communities and is now applying the findings to its game-changing developments in the region.

Leading UAE developer Aldar Properties said work is progressing well on all its projects at Yas Island in Abu Dhabi, UAE, with the delivery of the first 300 homes under way at the island’s first villa community.

Arada, the developer of the mega Aljada project in Sharjah, UAE, has awarded the first construction contract for the project.

The Business Park at Dubai South recorded a 400 per cent growth in companies operating in the park since its inception in early 2015 with the number of companies increasing from 900 in 2015 to 4,500 in 2018. An average of 1,500 new companies have joined the park each year. The park also has a high customer retention rate of 98 per cent.

Fidu Properties, a leading Chinese company in the UAE property market, has announced massive expansion plans in the region, with over Dh5 billion ($1.36 billion) worth of investments in the emirates alone over the next three years.

Samana Developers, a Dubai-based real estate developer, says its Dh75-million ($20.4 million) Samana Greens residential project is on the fast track with the contractor having completed 10 per cent of the construction works in 100 days. The freehold project  consists of 131 residential units comprising studio to two-bedroom apartments.

Al Salam Bank offers financing for Kingdom Projects’ villas Al Salam Bank-Bahrain, one of the pioneering Shari’a-compliant banks in the kingdom, has signed a memorandum of understanding (MoU) with Kingdom Projects to facilitate financing solutions for customers wishing to buy villas in the latter’s Janayin Al Hamala project in Ha