Damac announced El Chaar’s resignation last month following 12 years at the company
Most projects are scheduled for completion in less than two years
Up to 40 per cent of the construction of the Viceroy Dubai Jumeirah Village hotel and residences is complete
Mixed -use project Soho Square will feature 302 luxury residental units
Ossama Wassim Abbas will assume the responsibilities of general manager – Sales
The project is DAMAC’s third in Lusail City
Currently foreigners in the country are only allowed to acquire property in defined tourism communities
Branded residential developments are known to command a premium
“The real estate market in its entirety has turned a corner,” the group’s CFO said
Abdulrehman Hamad Al-Harkan is leaving the company for personal reasons
The 29-storey tower comprises 456 apartments, a swimming pool, health club and a play area
Recurring revenues contributed to 39 per cent of the group’s revenue
The new Rawda Apartments feature one, two and three bedroom units
The main works contract has been awarded to General Construction Company
The Abu Dhabi developer reported first quarter net profit of Dhs641m
The delayed project, which started 10 years ago, was redesigned following the 2008 downturn
Trojan General Contracting has been appointed as the main contractor for the first three precincts of the project
The roads and infrastructure contract has been awarded to Proscape
The kingdom has a waiting list for 1.5 million housing units over the next five years
The emirate ranked 10th on the list, with Monaco leading worldwide
The developer is also planning a luxury gated community in the area
The plot in the Meydan district is 120,000 sq ft
The company handed over 412 land form and built form units during Q1 2017
The firm said the purchase includes six properties with an aggregate of roughly 1.8 million square feet of warehouse and distribution space
Once complete, the development will house an estimated 370,000 residents
Called Fujairah Beach, the development will feature a luxury five-star hotel and a gated residential community
Prices for the units begin from Dhs450,000
The joint venture will look to develop plots owned by Mubadala on Al Maryah Island and by Eshraq Properties on Al Reem Island
The company said redundancies in oil and gas and the flight to affordability among residents would continue
Yas Island’s Ansam and Al Raha Beach’s Al Hadeel are set to be handed over in September 2017