The deal will reinforce confidence in Dubai’s property market, curbing apprehensions on market volatility, says expert.
The lenders – Abu Dhabi Commercial Bank and Abu Dhabi Islamic Bank – are now the frontrunners to acquire the business.
The number of firms operating under DSOA grew to reach 929, the company said.
The sector contributed around Dhs117.4 billion- 8.4 per cent- to the UAE’s GDP in 2013.
Microsoft announced that its new gaming console will be made available in 26 additional countries.
The contractor, in which Abu Dhabi state fund Aabar is a key stakeholder, said it made a net profit of Dhs122 million in Q4.
PepsiCo SSFL will supply its premium salty snack in all BinHendi food and beverage outlets across the UAE.
The loan, which refinances an existing $1.1 billion facility, attracted commitments from lenders worth more than $5 billion.
Around 90 per cent of the GCC’s high net worth individuals are more focused on wealth generation than preservation.
The 302-room resort, a member of Preferred Hotels & Resorts, combines Arabian and Andalusian themes
Located in the upcoming Opera District, the multi-format venue will host operas, concerts, art exhibitions, film and sports events.
Low-cost carrier’s move sees capacity stack up between Dubai and Moscow
Dubai’s largest listed property developer has said it would list 25 per cent of its shopping malls and retail unit.
Two search and rescue aircraft from the UAE’s Armed Forces will join the search for MH370, which vanished on March 8 with 239 people on board.
Situated in an upscale hotel district in Guangzhou, the project is scheduled to open in 2015.
The company said previous preparations for an IPO had been put on hold because of the political climate.
The development features two towers and includes 300 residential units.
Prior to joining Coutts, Dugan was CIO of Dubai’s Emirates NBD.
Emaar’s strong reputation with investors for delivering projects, plus the fact it has collected healthy deposits on the off-plan developments, meant it was very cash-rich.
Under the contract, Al Futtaim Carillion will carry out the first phase delivery of the Dubai Trade Centre District project.
VOX plans to open five new cinemas in addition to its existing project pipeline.
The cabinet endorsed the establishment of the UAE National Institute for Medical Specialisations to improve training facilities in the country.
The collaboration will help the bourses offer energy products such as liquefied natural gas and electricity.
The project registered Dhs500 million in sales during the opening hours of the launch.
The debt is being rolled over for five years at a one per cent annual interest rate, WAM said in an official statement.
Receptionists, accountants and human resource professionals are the most sought after groups among the employers in the UAE.
The project includes over 100 luxury villas, conceptualised by Donald Trump and his daughter Ivanka Trump.
Emaar is in the final stages of discussions with banks on the best way to conduct the listing, according to its chairman Mohammed Alabbar.
Amal Al Qubaisi was also the first woman to be elected to the UAE’s Federal National Council in 2006.
The artwork, Tranquility, is also part of the auction house’s public exhibition in Dubai.