Real Estate

Leading UAE developer Emaar Properties has announced the launch of The Valley, a new Dh25-billion ($7 billion) master development on Dubai-Al Ain Road.

Azizi Developments has launched Mirage, a stylish residential project designed with the young generation in mind, in the up-and-coming Dubai Studio City. Featuring post-modern architecture, Mirage offers 444 units comprising 253 studios, 155 one- and 366 two-bedroom apartments.

Deyaar Development says it has completed work on the Afnan District within its Midtown development in Dubai, UAE.  Afnan District is the first district to be completed of the six in Midtown’s integrated urban community.

Abu Dhabi-based Reportage Properties is set to begin construction on the first phase of Rakan Lofts in Dubailand in the first quarter of next year in collaboration with Continental Investment. “The first phase of Rakan Lofts offers about 349 villas,” said Nasser Al Khamees, chief executive officer of Reportage Properties Group.

Al Qana, the new social culinary and entertainment destination being developed by Al Barakah International Investment (BII) in Abu Dhabi, has announced the launch of The Bridge Wellness Hub, one of its seven destinations. The Bridge is an integrated lifestyle wellness hub that has been designed to be a disruptive space within its industry.

October was a record month for Dubai’s real estate sales, contradicting reports of a slowdown in the property market, according to Property Finder.  A total of 4,774 overall property sales was recorded with the Dubai Land Department (DLD) in October, the highest since 2008, it stated.

Leading UAE-based developer Emaar Properties has recorded a robust 20 per cent increase in its net profit for the third quarter (July to September) which soared to Dh1.331 billion ($362 million), compared to Dh1.11 billion ($302 million) during the same period last year.

UAE-based Diamond Developers has announced plans to set up  Sanad Village, the world’s largest rehabilitation and education centre for people of determination,  over a 32,000-sq-m area within The Sustainable City in Dubai. The Dh200-million ($54.

Golden Gate, one of Bahrain’s leading real estate developers constructing the tallest residential tower in Bahrain, recently held a luncheon to celebrate its first anniversary.

MAG Lifestyle Development (MAG LD), the property development arm of Dubai-based MAG Group Holding, said 65 per cent of the work has been completed on its mixed-use project, MAG 318, which is on track for delivery in April 2020.

Aldar starts handover of two Saadiyat Island projects UAE-based Aldar Properties says it has achieved a significant milestone in the delivery of two of its flagship developments on Saadiyat Island, having started phased handovers of Mamsha Al Saadiyat and Jawaher.