The project is expected to be launched in the next 12 months, confirms CEO George Kostas.
The project will comprise of residences, two international schools, nurseries, three hotels, mosques, a clubhouse, a retail centre and restaurants.
Rents in Ajman are growing as budget-conscious residents move from Dubai and Sharjah, where rents have soared, finds Asteco.
The Qatari lender said it had agreed to sell its 50 per cent stake in Seef Lusail Real Estate Development.
Policymaking complacency and the launch of larges scale projects such as Mall of the World could lead to property bubble, finds report by the Bank of America Merrill Lynch.
Dubai’s property market is showing signs of overheating, but banks seem better insulated this time around, say experts.
Investor confidence in the capital’s property market has returned with off-plan projects being sold out, according to a report by Asteco.
Factors such as oversupply and weak occupier demand have led caused rental rates to stagnate.
Strong revenue from property development along with improving performance in Nakheel’s retail, leasing and leisure businesses contributed to these results, the company said.
The city’s political stability and rising demand from a burgeoning workforce have been instrumental in attracting international investment to its property market, a new report says.
The offer is open to investors in Damac projects in the Burj Area, Dubai Marina, Jumeirah Village and AKOYA by DAMAC.
Dubai recently announced plans to build the “Mall of the World”, including the world’s largest mall, a theme park and 100 hotels and serviced apartments.
Emaar has launched many new residential projects this year and is also expanding its flagship Dubai Mall.
Jumeirah Beach Residence saw the highest increase in rent prices at 10 per cent quarter-on-quarter, according to a report by Asteco.
The eight million sq ft mall will be connected to a theme park, theatres, medical tourism facilities and 100 hotels and serviced apartments.
Engineering consultancies Green Energy and Energoprojekts will carry out design review and infrastructure site supervision services for the 132/11kv substations, the developer said.
Prime rents in the city rose six per cent in Q1, and are up 16.4 per cent year-on -year, the report found.
The market has matured to a level capacity although rents continue to increase, says CEO
The developer expects its profit in the first half of this year to reach Dhs700 million.
The 620,000 square metre retail destination will form part of the Dubai developer’s new 15.3sq km Deira Islands project.
The firm said the facility would be used to refinance existing debt and to finance planned new real estate projects.
The test, which has a fee of Dhs700, has to be cleared by all real estate brokers in the emirate.
Located in Dubai, the Dhs500 million residential project, Dreamz By Danube, includes 171 townhouses.
The introduction of mortgage caps has been instrumental in dampening the buyer activity this year, research has found.
Egyptian state news agency MENA said Saudi would inject $124 million dollars into the Saudi Egyptian Construction Company (SECON).
The developer will announce new “big” projects later this year, confirmed Ali Rashid Lootah.
The repayments will be funded from Nakheel’s own resources rather than support from the Dubai government.
Arabtec’s shares, the most heavily traded in Dubai, plunged 53 per cent this month, dragging down the entire market.
The villas, which come with a starting price of Dhs36,000,000, will be ready by Q1 2017, the developer said.
The towers will be located in the Sahara complex between the borders of Sharjah and Dubai.