Construction of the project is expected to be completed within two years after awarding the contract.
The Dubai-based developer has promised customers free luxury cars as part of its Dubai Shopping Festival promotion.
Dubai developer is currently evaluating construction bids for the retail and entertainment complex.
Apartment prices at Burj Khalifa currently stand at Dhs3, 750 per square feet – a 50 per cent increase from February 2009.
The contractor denied media speculation about increasing its stake in Depa.
Massive government spending is driving Saudi Arabian real estate growth, says Dr. Tobias Plate, senior partner at Roland Berger Strategy Consultants Middle East.
Preparations for the 2022 FIFA World Cup are driving the Qatari real estate market forward, says Dr Tobias Plate, Senior Partner at Roland Berger Strategy Consultants Middle East
The developer reported the land sales in its Al Furjan and Jumeirah Village Triangle projects.
Recovery of UAE’s key real estate markets remains uneven with robust growth in sales and rental prices in Dubai and slower improvements in Abu Dhabi, says Dr. Tobias Plate, senior partner at Roland Berger Strategy Consultants Middle East.
The Dubai developer gained three per cent to reach Dhs7.57 at the close of trading, its highest since September 2008.
Qatar Investment Authority is holding “conversations” with Kotak Realty Fund, says source.
Dubai Marina topped the list of Dubai’s most searched locations to rent property in, according to propertyfinder.ae.
The firm won a deal for mechanical, electrical and plumbing work at the Mall of Qatar, which is now under construction near Doha.
As per the ruling, landlords can raise rents by 20 per cent if contracts are 40 per cent or more below average prices.
The builder said it would set up real estate development units in Dubai and Abu Dhabi.
Dubai’s office rental market growth is driven by the emirate’s favourable economic and investor-friendly conditions.
The conversion of all the bonds is estimated to lead to the creation of around 420 million shares.
Dubai World had paid $375 million in 2008 for its 50 per cent stake in Fontainebleau Miami Beach.
The loan will act as a bridge financing until the company launches a sukuk issue in 2014.
The 10-storey, 270-unit tower aims to serve professionals working to build the Expo 2020 venue.
Mahdi Amjad, CEO of real estate company Omniyat says impact of the win was felt “from the first minute the results were announced.”
The developer said it has instructed Deutsche Bank, the registrar and paying agent for the sukuk, to pay the amount to trade creditors.
The lifestyle development, located within DWC, will include a golf course, hotels, retail outlets and a business hub.
The $1 billion project will offer 479 rooms and suites and 222 Viceroy Residences with sea views.
When completed formally next month, the sale will be one of the largest UK property deals ever.
Holiday homes market will allow property owners to lease out on a periodic basis while broadening visitor accommodations.
The construction contracts have been awarded for Azure Residences and Club Vista Mare.
The Dubai developer is now valued at $2.65 billion.
The Dubai developer has asked property agents not to resell off-plan properties until the unit is completed and handed over
Property ownership remains a distant dream for many Saudi nationals, writes Syed Hussain.