Real Estate

Saudi-based Al Khozama Company, an award-winning and pioneering luxury hospitality and property management company, has kicked off the second phase of its ambitious The District Al Faisaliah redevelopment project, incorporating Al Faisaliah Tower, Al Khairiah Towers, Al Faisaliah Hotel, Al Faisaliah Suites, Hotel Al Khozama and the Mode Al Faisalia

Azizi Developments, a UAE private developer, plans to invest over Dh3.5 billion ($952 million) in the next two to three years to construct 45 buildings comprising over 11,000 homes in Dubai.

Arada, a leading property development company based in Sharjah, has launched a new premium garden villa community at Aljada, the 24-million-sq-ft mixed-use destination in the heart of New Sharjah. Sarab 2 features 114 villas and townhouses set in a lushly landscaped, exclusive neighbourhood.

Leading UAE developer Aldar Properties reported a 21 per cent increase in its revenue for the second quarter which rose to Dh2.01 billion ($547.2 million) from Dh1.66 billion ($452 million) last year due to a strong performance from the development business.

Leading developer Kleindienst Group says construction is in full swing on the Côte d’Azur, a cluster of four resorts coming up within Phase One of its $5-billion Heart of Europe project and is due for completion in the fourth quarter.

Eagle Hills, a leading real estate investment and development company, has entered into a joint venture with Emaar Entertainment to bring an aquarium and underwater zoo to Marassi Galleria, the shopping mall at the heart of the Marassi Al Bahrain Development in Bahrain.

RAK AMI Hotel, a key hotel development and management company, has  announced significant progress in the construction of the Mövenpick Resort Al Marjan Island, its flagship hospitality project in Ras Al Khaimah (RAK), UAE.

Samana Developers, the Dubai-based real estate developer, has announced significant progress on its Dh200 million ($54 million) Samana Hills and Samana Greens residential projects, coming up within Arjan Dubailand.

Union Properties completes strategic blueprint, restructures debt Union Properties, the main developer of Dubai Motor City, has announced the completion of its three-year strategic blueprint, which includes the initial plans to launch its new 2.9-million-sq-ft mixed-use project, Motor City Hills.