Property leasing

The UAE economy’s strength and recovery from the aftermath of the Covid-19 pandemic are evident in the positive projections made by international institutions and banks including the International Monetary Fund (IMF) and World Bank. “The UAE is poised for positive economic growth as it is projected to achieve a 3.6 per cent increase in its gross domestic product this year, driven by...

Aldar, IHC and Adnec team up to create property and facilities management giant Aldar, IHC and Adnec are set to team up to form a new property and facilities management giant with a portfolio of 135,000 properties in the region. Eltizam Asset Management Group, which is jointly owned by IHC and ADNEC Group, will merge with Aldar Estates. Aldar will hold a majority stake and retain control of...

RAK Properties plans to launch four new residential projects and a hotel project in Ras Al Khaimah this year and aims to surpass last year’s profitability on the back of higher sales, its chief executive has said. The value of the projects will be “in the billions of dirhams”, Sameh Al Muhtadi told The National in an interview. The new projects consisting of branded...

The UAE real estate market, in particular in Abu Dhabi, continues to grow. The emirate demonstrates a high rate of development, which directly affects the economy of the capital. A wide range of properties with different pricing categories are offered in Abu Dhabi by some of the most sought-after developers, in the most attractive locations. The government is determined to attract highly skilled and...

Abu Dhabi has the fastest-growing economy in the Middle East and GDP growth is at a nine-year high Abu Dhabi’s booming economy hit a nine-year high in the first three months of this year, according to official Statistics Centre statistics. This growth was driven by the robust performance of non-oil economic activities in the emirate. Statistics Centre – Abu Dhabi (SCAD) released...

Ethmar International Holding snaps up Al Raha Beach development in Abu Dhabi A major Abu Dhabi real estate development has been snapped up by a property firm looking to maximise investment in the city’s real estate sector. Ethmar International Holding has announced the acquisition of Lamar Residences, one of the luxury mega projects on Al Raha Beach in the Seef district in Abu Dhabi, with a...

Abu Dhabi’s Department of Municipalities and Transport (DMT) has introduced a new Unified Contract Template for the sale of units and plots in the city’s development areas. The new template will come into effect on July 3, 2023. The introduction of this new template aims to ease the buying and selling process for off-plan properties while ensuring transparency and trust between developers and...

ABU DHABI & Ras Al Khaimah, UAE: According to leading global property consultancy, Knight Frank, Abu Dhabi has transformed itself into a global tourist and investment hotspot, repositioning itself over the last 15-20 years as a complimentary cultural and entertainment hub to Dubai. In Knight Frank’s Destination Dubai flagship report, the emirate emerged as the second most popular real estate...

Abu Dhabi announces Hudayriyat Island masterplan with Surf Abu Dhabi, Velodrome Abu Dhabi, giant urban park and more Abu Dhabi is set to embark on a major development of Hudayriyat Island. Modon Properties has revealed the highly anticipated masterplan for Hudayriyat Island. It will see a world class surfing attraction, velodrome and giant urban park built in the city as well as the...

Now reinvigorated and reimagined, the Palm Jebel Ali has been part of the Dubai landscape for more than 20 years. Construction began in 2002 as part of a hugely ambitious series of artificial offshore islands that included Palm Jumeirah, The World and Palm Deira. At one stage, it was proposed some of the islands off the Palm Jebel Ali form the shape of a poem written by Sheikh Mohammed...