Under the plan, an ultra-luxury 350-room resort will be added to the existing Jumeirah Beach Hotel.
Ismaik said he had left Depa to focus on his personal business.
The villas, which come with a starting price of Dhs36,000,000, will be ready by Q1 2017, the developer said.
ALIF Fund will be managed by the International Airfinance Corporation with Airbus and IDB as investors and partners.
Hasan Ismaik, who resigned as head of the firm last week, said that he has offers from government entities and an international construction firm.
Half a dozen stocks fell their 10 per cent daily limits.
Hotels can actually increase guest spending by up to 24 per cent by targeting guests with individually relevant information.
Arabtec confirmed on Tuesday that it had laid off a “limited number” of staff to improve productivity.
Reports claimed that the Dubai contractor laid off hundreds of staff following the departure of CEO Hasan Ismaik.
The company’s stock fell its daily limit of 10 per cent for a second session in a row.
Large numbers of staff, including at least two senior executives, have departed the company since Ismaik resigned.
Free wifi, food and beverages available to the airline’s premium passengers at Terminal 2
The six month long event is also encouraging business colleges to set up base in the emirate.
The acquisition is Al Habtoor’s second hotel in the Hungarian capital.
The tramway’s stations are also almost complete, confirms RTA chairman Mattar Al Tayer.
Hasan Ismaik who resigned from Arabtec on Wednesday, holds a 28.85 per cent stake in the company.
The airline will add over 135 seats to San Francisco and 137 seats to Houston after it launches the jumbo A380 on these routes.
The company confirmed the appointment of Mohamed Al Fahim as Arabtec’s acting CEO for an unspecified “temporary period”.
The 588-room hotel, located in the Dubai World Trade Centre District, is scheduled to open in Q1 2016.
Dubai builder Arabtec’s share price plunged as much as 50 per cent in the last six weeks.
A new study shows that the emirate rose to the third position this year, up from the eighth position in 2013 in the list of most popular destinations for China’s rich travellers
The GCC luxury goods market has continued to grow fast, at a rate of five to eight per cent.
The 750kg reptile, brought in from Australia, becomes latest attraction in Dubai Mall, as Emaar seeks to boost visitor footfall.
Bids for phase one are due by August 14.
Experts, including the IMF, have called for more regulations to govern transactions in Dubai’s off-plan property market.
Shares in Arabtec, one of the most heavily traded stocks in Dubai, have plunged 48 per cent from their May peak.
DEWA’s customers conducted around 3.3 million transactions in 2013 through its website and smart app, its chief executive said.
Dubai’s index drops 2.3 per cent while Abu Dhabi’s benchmark slides 1.4 per cent.
The level of Aabar’s stake in Arabtec is important because the deep-pocketed fund has backed the construction firm’s expansion to become one of the region’s largest builders.
In a brief statement on Sunday, Dubai Financial Market said the stake had now risen slightly to 18.94 per cent.