Dubai developer Emaar Properties on Monday announced 15 percent profit growth to $772 million in the first half of 2017, with property sales in the emirate up 22 percent.
Property sales in Dubai reached 10.814 billion dirhams ($2.94 billion, 2.5 billion euros) in the first six months, up 22 percent on January to June last year.
Revenues of the realtyRead more
Sale prices and rental costs for the most expensive homes in Dubai were significantly lower in the first three months of this year compared with 2016 as companies hired top-level staff at a slower rate.
Prices for apartments in Dubai’s Burj Khalifa have dropped by about a quarter on the secondary market over the past 12 months, highlighting the weakeningRead more
Most stock markets in the Gulf fell on Monday as the mood on global exchanged darkened because of the ‘No’ vote in Italy’s referendum on constitutional reform.
Riyadh’s Tadawul All-Share Index fell 0.3 percent to 7,106 points, but it closed 83 points above its intra-day low and is still up 3.2 percent year-to-date.
Trading volume shrank slightly but remained healthyRead more
Emaar Properties, the developer of the world’s tallest building, has announced net profits of $674 million and revenue of $1.97 billion for the first half of 2016.
The property developer, which is partly owned by the Dubai government, said Sunday 40 percent of its revenue between January and June was generated by its shopping malls, hospitality and leisure businesses.
EmaarRead more
A UAE-based investor group led by Emaar Properties chairman Mohamed Alabbar said it agreed to buy Kuwait Food Company shares from its majority stockholder for $2.36 billion.
Adeptio AD Investments, the group led by Alabbar, will pay 2.65 Kuwaiti dinars (Dh32.39) per share to buy a stake in the company known as Americana from Al Khair National for Stocks andRead more
Middle East stock markets fell on Sunday as investors booked profits following a pull-back in oil prices and international stock markets, but some Saudi real estate shares bucked the downtrend because of the Kingdom’s economic reform plan.
Dar Al-Arkan Real Estate Development added 7.5 percent after a 20 percent jump last week. It has been strong since the developer saidRead more