Real Estate

Leading developer Kleindienst Group has started building a 1-km-long climate-controlled Raining Street within its $5-billion masterplanned leisure tourism island destination, The Heart of Europe, located in Dubai, UAE.

UAE-based developer Arada says it has begun the handover process for homes in Phase Three of Nasma Residences, the developer’s premier community spread over a 5-million-sq-ft area in the heart of New Sharjah.

Majid Al Futtaim, a leading shopping mall developer and leisure pioneer in the region, has announced that work is nearing completion on its Dh377-million ($102.6 million) East Court redevelopment project.

Abu Dhabi’s newest waterfront destination, Al Qana, is on track for completion of construction by the year-end, with work on its aquarium – set to be the Middle East’s largest – now 90 per cent complete.

Al Mouj Golf – a signature course at Oman’s leading mixed-use integrated tourism complex, Al Mouj Muscat – says it has once again won recognition from Audubon International for its sustainability efforts.

UAE-based Jubail Island Investment Company (JIIC) has awarded a deal worth over Dh200 million ($54.4 million) to Gulf Contractors Company (GCC) for carrying out infrastructure works at its Dh5-billion ($1.36 billion) Jubail Island project in Abu Dhabi.

Master developer Nakheel is seeing an uptick in demand for villas, with sales worth Dh223 million ($59.3 million) in the last three months, as buyers look for more living space to adapt to the ‘new normal’.

Azizi Developments, a leading private developer in the UAE, has announced that steady progress is being made at Mohammed bin Rashid City’s new project, Riviera.

Bahraini authorities have resolved the issues linked to the majority of the stalled projects across the kingdom and now only three such projects remain ‘under review’ compared to eight unfinished projects in 2014, reported the Gulf Daily News, our sister publication.

UAE developers adopt ‘wait and watch’ approach Nearly 90 per cent of residential projects in the UAE that were under construction before the Covid-19 pandemic are still proceeding.