A hospitality trailblazer talks resilience in a shifting global landscape
Duncan O’Rourke, CEO, Premium, Midscale, and Economy Division for Middle East, Africa and Asia Pacific at Accor, spells out the Group's motto of "pioneering the art of responsible hospitality, connecting cultures with heartfelt care."
China sets 5% growth target in 2023, one of the lowest in decades
Beijing, China--China on Sunday set an economic growth target of "around 5 percent" for 2023, one of the lowest in decades, as its annual National People's Congress opened in Beijing.The target was announced in a work report delivered by outgoing Premier Li Keqiang as the rubber-stamp parliament opened at the capital's...Dubai Holding acquires the iconic The Westin Paris – Vendome
The hotel, with its ultra-prime location, is one of the most sought-after real estate assets in Paris, France.Super-rich Russians lift UAE property market to record heights
There might be a global slowdown in the property market, but thanks to Russian buyers, the UAE, in contrast, has seen a stunning growth in the sector.Tourism, state spending spur real estate in KSA, UAE
Property markets benefit as an increased demand for tourists and the rise in government spending on infrastructure projects drive the post-pandemic recovery in the region.Realty growth in Saudi Arabia, UAE to build on strong private sector and robust spending via govt initiatives
While 2022 saw record levels of demand for commercial office space as a result of ‘Programme HQ’, 2023 looks set to be dominated by the delivery of high quality residential-led mixed use schemes and a continued focus on tourism, leisure and entertainment projects, adds Burch, Partner and Head of Real...Increasing pressure from Saudi real estate projects to force Dubai to develop more distinctive offerings
At the moment, the market is solidly Dubai, which is recognised as the world leader in branded residential offerings with all eyes on the city’s upcoming openings. The slower approach of Abu Dhabi will be something to watch as it makes large-scale investments into the luxury sector, he adds.Dubai’s records weeklong real estate transactions worth $2.44 billion
Dubai, UAE---A total of 2,157 real estate transactions worth over AED 9 billion ($2.44 billion) were conducted during the week ending Feb 3, 2023, according to figures released by the Dubai Land Department (DLD).The DLD report revealed that 237 plots were sold for AED 1.56 billion, with an additional 1,920...China expected to boost global growth but uncertainties remain: IMF
After almost three years of stringent health restrictions, Beijing in December abruptly ended the zero-Covid policy that had battered the economy and provoked widespread protests. The Asian giant posted growth of just three percent in 2022, hammered by stringent lockdowns and a deepening crisis in the key property sector.Dubai realty sector posts record sales in 2022
Real estate sector experts say facilities like Golden Visa were fueling expatriate interests in owning a property in the emirate.Dubai records over US$2.72bn in weeklong real estate transactions
DUBAI, UAE - A total of 2,173 real estate transactions worth over US$2.72 billion (AED 10 billion) were conducted during the week ending January 6, 2023, according to figures released by the Dubai Land Department (DLD).A total of 270 plots were sold for $612 million (AED 2.25 billion), 1,903 apartments...Dubai records over $762 million in realty transactions Thursday
Dubai, UAE---Dubai real estate market recorded deals worth AED2.8 billion ($762 million) on Thursday, Dubai Land Department said.These included 516 sales transactions worth AED1.73 billion, in addition to 71 mortgage deals of AED596.74 million, and 26 gift deals amounting to AED503.85 million.The sales included 455 villas and apartments worth AED1.5...In Iraq, graft helps push property prices out of reach
Baghdad, Iraq---Iraqi telecommunications worker Youssef Ahmed is married with a five-year-old son, but lives with his parents because he is unable to afford his own home amid soaring property prices."Even if your income increases, it will never be up to the exorbitant prices of houses or land", said 29-year-old Ahmed, who...‘Rental Disputes Center provides 9 years of stability in real estate sector’
DUBAI, UAE - The Rental Disputes Center (RDC), the judicial arm of Dubai Land Department (DLD), was launched to achieve social and economic stability for those involved in the real estate rental sector and other relevant fields. This helped in establishing a specialized judicial system as per a streamlined mechanism.Judge...Abu Dhabi, Dubai gain as realty prices rise in UAE
The UAE’s real estate market flourished during November as sales in Dubai alone crossed 10,000 transactions, the highest recorded since 2011, says a latest report.Innovation, sustainability to boost UAE real estate demand as market recovers from coronavirus impact
The swift recovery from the effects of Covid-19 is expected to contribute to a rise in demand for luxury real estate units in the UAE by more than 30 percent next year, says a report.Emaar 9M revenue at US$5.1bn
Robust property sales helped firm enhance revenue.Residential properties in UAE remain key attraction for international real estate investors
Experts attribute the main reasons for the increase in the real estate demand to the UAE government's numerous initiatives and the high income level of investors.Dubai’s real estate builds on AI to boost sales
Investors and brokers are becoming more confident as the emirates's innovative systems keep tabs on the skyscrapers and the units available for housing and renting.Dubai records realty transactions worth US$1.8bn in week
A total of 2,401 real estate transactions worth US$1.8 billion (AED6.7 billion) were conducted during the week ending September 23, 2022, according to figures released by the Dubai Land Department.KHC’s profit vaults by 1,162%
Kingdom Holding Co. posted $1.7 billion profit in H1.China slashes lending rates to spur economic growth
Battered by the government’s zero-Covid policy and a slump in the property market, China’s central bank cut benchmark loan rates in order to boost economy. The one-year Loan Prime Rate was reduced from 3.7 percent to 3.65 percent, according to the People's Bank of China.Weeklong real estate transactions in Dubai amount to $2.8bn
The real estate and properties transactions valued at $2.8 billion (AED10.3 billion) in total during the week ending 19 August 2022. The sum of transactions was 3,149.Dubai records $2.6bn real estate transactions in week
A total of 2,433 real estate transactions worth $2.6 billion (AED9.7 billion) were conducted during the week ending 12th August, 2022, according to figures released by the Dubai Land Department.Lebanese judge orders seizure of MPs’ property over port blast
The two former ministers Ali Hassan Khalil and Ghazi Zeaiter had been summoned for interrogation by the judge investigating the blast. However, the investigation into the cause has been stalled amid political interference and no state official has yet been held accountable.GCC investors turn to realty to hedge against inflation
The real estate sector in the Gulf region is set to accelerate in the second half of the year as regulations effectively mitigate the market cycle swings, especially during inflation.Dubai’s weeklong real estate transactions total $1.4bn
In Dubai, the real estate and properties transactions valued at $1.4 billion in total during the week ending 05 August 2022. The sum of transactions was 2,247.Al Zamil buys tower for $133m
The saudi developer bought the residential tower in Makkah.Arada H1 property sales up
The developer sold homes valued at $405m in Sharjah.Select Group buys hotel in UK
The purchase is part of Dubai-based firm's expansion plan.Arada issues $350m Sukuk
The deal has been listed on the London Stock Exchange.700-year-old samurai sword smuggled into Switzerland
Valued at $700,000, the Katana sword was discovered in a car with Swiss plates during a routine search near Zurich.ENBD REIT rental income down 19.7 percent
Occupancy of its portfolio up 80 percent in the year ending 31 March 2022.Emaar Properties Q1 profits up 241%
The firm's revenues stand at AED 6.63 billion in the first quarter of 2022.Should you invest in Metaverse real estate?
The economic opportunities and jobs created by the Metaverse will revolutionize how we work, socialize, play, and earn, says Sebastien Borget, COO and cofounder of The Sandbox.Dubai saw weeklong real-estate transactions worth $2.12bn
The total number of real-estate transactions that took place was 1,968, according to data from the Dubai Land Department.Dubai records realty transactions worth $463m on Thursday
The Dubai real-estate market recorded total realty transactions worth over AED1.7 billion ($463 million) on Thursday, April 14.Dubai records $417m worth of realty transactions on Monday
The Dubai real-estate market recorded transactions amounting to more than AED1.53 billion ($417.72 million) on Monday, April 11.Evergrande halts trading again
Evergrande and all its units halted trading in Hong Kong on Monday.Dubai sees weeklong real-estate transactions worth $1.91bn
The total number of real-estate transactions in Dubai stood at 2,131 for the week ended March 4.Dubai records realty transactions worth more than $430m on Monday
Dubai’s real-estate market on Monday recorded a total of 301 transactions with a total value of AED1.59 billion ($433.22 million).Saudi Arabia and UAE drive real estate growth in the region
Saudi Arabia and the UAE are driving the real estate market in the Middle East region with the backing of government and evolving market dynamics.Abu Dhabi saw real-estate transactions worth $19.47bn in 2021
The entire amount resulted from a total of a combined 14,958 sales and mortgage transactions.Nawy raises $5m in funding
Nawy, a Cairo-based property dealer, obtained a seed funding round of $5 million, led by the Sawiris family office.Saudi Tourism hires Radisson Blu to run a four-star resort
Radisson Blu has been hired to manage and operate a new four-star resort with retail stores in Al-Ahsa governorate.Dubai saw $1.8bn real-estate transactions last week
A total of 2,078 real-estate transactions worth AED6.6 billion ($1.8 billion) were conducted in Dubai during the week ending February 11.Dubai sees weeklong real estate transactions worth $1.33bn
This was the result of a total of 1,724 transactions, according to figures released by the Dubai Land Department.China’s property stress could shake global markets: IMF
A funding crisis battering China's big property developers could start to shake the wider economy and global markets, the IMF warned on Friday, saying deeper reforms were needed to fully curb the threat. It warned there were "concerns of negative spillovers to the broader economy and global markets".Evergrande undergoes rejig
A state firm official was appointed to the Chinese firm’s board.Dubai saw real-estate deals worth $1.23bn this week
During the week ending January 14, the transactions numbered 1,559, according to the Dubai Land Department.UAE cabinet endorses labor and industrial laws
Chaired by Sheikh Mohammed bin Rashid Al Maktoum, ruler of Dubai and Vice President, Prime Minister of the UAE, the Cabinet approved the Executive Regulations of the Federal Decree Law on Regulation of Labor Relations and the Executive Regulations of the Federal Law regarding the regulation and protection of industrial...