The company said that it would shortly make an initial payment to creditors of approximately Dhs2 billion ($545 million), with the remaining debt to be paid over a 12- year period.
The growth in passenger traffic was mainly due to the temporary shift of almost 600 flights from Dubai International during the runway upgrade project.
The bidding process for the 2024 games is expected to begin in 2015, and the winning city will be revealed in 2017.
The Dubai-based airline said it will continue to operate flights to Basra and Baghdad.
The hotel called ‘Suites in Skai’ had 234 hotel rooms, 234 one and two bedroom apartments and 33 penthouses for sale.
The plot spread across 55 million square feet of land is almost 30 per cent larger than Damac’s current biggest project Akoya.
Dubai’s real estate sector offers a number of medium to long-term investment options for foreign buyers, an expert says.
The contracts were awarded to subsidiaries of the interior contracting company.
The HSBC UAE Purchasing Managers’ Index was at 58 points last month, down from 58.2 points in June.
New services to the ‘windy city’ provide Emirates with new destination and transfer opportunities
The sale is one of the largest asset disposals by the state-owned investment unit since the 2009 debt crisis.
The Dubai developer’s net profit was boosted by increased revenues from its malls and hospitality businesses.
The low-cost carrier will fly to Tehran from August 11 and Mashhad from August 10.
In May, Dubai Investments divested a 66 per cent equity stake in Globalpharma, which contributed a profit of Dhs472 million.
Accor has signed an agreement with Indian developer Hiranandani Group to manage an ibis Styles hotel.
The new concourse will be connected to an existing terminal by an automated train.
The Ebola outbreak, which began in Guinea and has spread to Liberia and Sierra Leone, has killed more than 700.
Dubai saw a number of new property launches, some of which garnered strong investor interest as sales launched. Gulf Business picks the top 10 property launches in 2014.
The conglomerate plans to make its first big repayment early, in exchange for more time before a second and much larger obligation needs to be repaid.
With 25 to 35 per cent of buyers in Dubai depending on mortgages, regulations that limit lending have been instrumental in easing the growth in luxury house prices.
The Dubai benchmark added 0.5 per cent in the first hour of trade with builder Arabtec rising 1.5 per cent.
The Royal Estate project, which was stalled in 2008, was relaunched this year as a joint venture between developers Aristocratic Star, PAL Developments and Pacific Ventures.
The developer is offering its investors an option to convert its Global Depositary Receipts (GDRs), listed on the London bourse into ordinary shares that would be listed on Dubai’s stock market.
Emirates also suspended all its flights to Kiev and none of its planes fly over the Ukraine airspace.
Growth in Dubai’s retail sector is stimulating demand for warehouse and distribution facilities, says report.
The new mall will feature an entertainment zone and an ice rink and will anchored by a LuLu hypermarket, the retail giant said.
Net profit climbed to Dhs103 million ($28.1 million) in the three months to June 30 from Dhs92 million a year earlier, the company said in a statement.
Ismaik cut his stake to 28.77 per cent from 28.85 per cent, the website of the Dubai Financial Market showed.
Dubai’s largest lender expects to see its lending grow by four to five per cent this year, the bank’s finance head Surya Subramanian told reporters.
Aramex posted a second-quarter net profit of Dhs80.8 million compared with Dhs72.3 million in the corresponding period of 2013.