Real Estate

Leading developer Kleindienst Group says work is in full swing to complete Phase One of the $5-billion Heart of Europe, a masterplanned leisure tourism island destination, as the island remains free from the coronavirus.

Dubai’s largest developer Emaar Properties has cut executive and staff salaries across its businesses as the coronavirus pandemic halts projects and weighs on revenue from malls and hotels, reported Bloomberg.

UAE-based upscale residential, hospitality and commercial property developer Seven Tides says more than 27 per cent of the work on its prime property, Seven Palm, located on Palm Jumeirah in Dubai, has been completed and is scheduled for handover in the fourth quarter of 2020.

Oman Global Logistics Group (Asyad Group) has invited bids from top firms for the development of a prime land owned by Mwasalat, the sultanate’s public transport services company, in the Azaiba area of the capital Muscat.

Azizi Developments, a leading private developer in the UAE, has announced that its projects across Mohammed Bin Rashid (MBR) City, Palm Jumeirah, Dubai Healthcare City, Al Furjan, and Downtown Jebel Ali are well under way, with construction progressing swiftly despite the global Covid-19 challenges.

Muscat National Development and Investment Company (ASAAS) has awarded contracts for the construction of two Rotana branded hotels in South Al Batinah governorate of the sultanate, reported the Oman Observer.

RAK Properties, one of the UAE’s leading property development and tourism infrastructure companies, says it has completed the construction of Gateway Residences, a low-rise tower featuring 144 luxury apartments in the northern emirate of Ras Al Khaimah.

Diyar Al Muharraq launches deep graving sewer network ops Diyar Al Muharraq, one of the leading urban developers in Bahrain, has announced that Phase One of the Deep Gravity Foul Sewer Network, within its master-planned island city, became operational in March.