As Arabtec is preparing for liquidation after the coronavirus pandemic deepened its financial woes, necessary legal arrangements and procedures have been recently taken to guarantee the rights and dues of its staff Image Credit: Virendra Saklani/Gulf News Dubai: As the Dubai-listed contractor Arabtec is preparing for liquidation after the coronavirus pandemic deepened its financial woes,[…]

The real estate sector contributed 7.2 per cent of Dubai’s GDP in 2019 according to Dubai Land Department’s (DLD) annual report titled ‘Real Estate Sector Performance 2020′. Image Credit: Ahmed Ramzan/Gulf News Dubai: The real estate sector contributed 7.2 per cent of Dubai’s GDP in 2019 according to Dubai Land Department’s (DLD) annual report titled[…]

BY: Baiju KaleshBrookfield Asset Management Inc. is pushing to list a real estate investment trust in Mumbai before the end of this year, which could raise as much as 38 billion rupees ($513 million), according to people familiar with the matter. The Canadian asset manager has received good response from investors including sovereign wealth funds[…]

Dubai: Damac Properties has slipped into a Dh931 million loss for the first nine months, as Dubai’s property market feels the full impact of the COVID-19 on demand. Last year, it had a profit of Dh132.6 million for this period. “COVID-19 has upset the balance-sheets for many companies, which industry leaders have been very vocal[…]

SINGAPORE: Singaporean Jason Chen recently bought a S$1.7 million ($1.26 million) three-bedroom apartment in a swanky condominium, upgrading his home in the middle of the COVID-19 pandemic which has triggered the country’s worst ever recession. “I know the price will rise”, said the 32-year-old, who has spent nearly a decade working in real estate. Undeterred[…]

DUBAI: Aldar Properties, Abu Dhabi‘s biggest property firm, posted an 8% rise in third-quarter net profit, helped by strong sales of completed residential units and income from its third-party development management business. Aldar recorded a net profit of 416 million dirhams ($113.27 million) in the quarter ended Sept. 30, up from 387 million dirhams a[…]

Most major Gulf markets traded lower in early trading on Wednesday and are set to break the winning run spurred by the news on the progress in the development of COVID-19 vaccine and subsequent potential global economic recovery. The Saudi, Dubai and Abu Dhabi markets have all gained in three successive sessions after the vaccine[…]