New expatriates in the UAE can avail of quick and easy loans and other financial services, thanks to an initiative being billed as a 'credit passport'. The initiative will enable newcomers to leverage their home country's credit history when applying for financial services upon arrival to the UAE. The move is also expected to give a fillip to the retail banking sector. Al Etihad Credit Bureau (AECB)...
Of the Abu Dhabi property owners surveyed, 67% said they would consider selling their units this year in return for a good premium Abu Dhabi: The majority of Abu Dhabi homeowners polled (82%) would reinvest in the property market if they sold their current unit in return for a good premium, according to a YouGov survey commissioned by Metropolitan Capital Real Estate (MCRE), a full-service leading...
RAK Properties PJSC, the largest listed property developer in Ras Al Khaimah, on Sunday reported annual revenue of Dh408 million for 2022. During the year, RAK Properties delivered 207 villas in Marbella, a luxury residential beachfront community on Hayat Island, as well as 266 apartments in Julphar Residence on Abu Dhabi’s Reem Island. In addition, RAK Properties successfully opened the 5 Star...
Supply remains limited in UAE capital, while occupancy levels in prime buildings hover at 95% Abu Dhabi’s strong economic rebound and expansion in employment levels are pushing office rents upwards in the UAE capital, according to a new report. Leasing rates for office space in three out of the six prime submarkets in the UAE capital registered increases of 3.5% to 12% during 2022, Knight...
New phase boasts five clusters of luxury residential units Q Properties, a unit of UAE-based investment group Q Holding, has has announced that all available homes in its recently-launched phase of Reem Hills, an AED8 billion ($2.2 billion) gated community on Abu Dhabi's Al Reem Island, have been sold out. The new phase offers 593 residential units in all, including villas, twin villas and...
Arabian Business has revealed that Mohamed Alabbar, the Emaar founder and Americana chairman, will launch a new island project called Ramhan Island off the coast of Abu Dhabi. The project will include 1,800 beach villas, 1,000 branded residences, a hotel, and a marina, and will be developed by his privately owned Eagle Hills development company. Alabbar described the island as “natural, raw,...
Abu Dhabi has launched a number of initiatives in recent years as it focuses on diversifying its economy away from oil The growth of Abu Dhabi's Gross Domestic Product (GDP) reached 10.5 per cent in the first nine months of 2022, the highest in the Mena region, compared to the same period of 2021, according to Statistics Centre - Abu Dhabi (SCAD). Through the provision of an enabling knowledge-based...
The company will look at bond issuance opportunities as it continues with its acquisition plans, its chief financial and sustainability officer says Aldar Properties, Abu Dhabi’s biggest listed developer, reported a 27 per cent surge in its full-year profit as revenue increased on the back of strong growth in property sales. Net profit attributable to owners of the company for...
We’re living in mega times… In the past few years we’ve seen some huge new leisure projects launch in Abu Dhabi, we’re looking at the WB hotel; The Yas Bay Waterfront; The National Aquarium and other alluring attractions within Al Qana; Mamsha Al Saadiyat has proliferated into a thrilling little foodie district; and The Al Wathba Fossil Dune Protected Area headlines our pick of the...
Aldhay was completed six months ahead of its scheduled handover date Leading UAE real estate developer Bloom Holding has announced that it has begun the handover of its 181-unit residential project Aldhay - the fifth phase of the gated community project Bloom Gardens - located on the Eastern Mangrove Corniche in Abu Dhabi. Aldhay was completed six months ahead of its scheduled handover date, which...
