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RSG unveils Dh600m Dubai hotel project

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The four-star Dh600 million hotel, located on Sheikh Zayed Road, next to UAE Exchange Metro Station, is scheduled for opening before Dubai 2020. RSG International, UAE-based business group, on Wednesday signed a management agreement with Rotana for its second Dubai hotel project announced this year. The agreement for the new hotel was signed[…]

MAG enters Downtown Dubai with high-end projects

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UAE-based MAG Property Development (MAG PD) is broadening its presence across Dubai with the launch of two high-end  developments MAG 318 and MAG 230 in the prime localities of Downtown Dubai and Dubailand. MAG PD, the property development arm of MAG Group, said the 318 Tower brings high-end studios, one and two bedroom apartments to[…]

Arabtec appointment of Appleby wraps up key management roles

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Arabtec Holding has appointed Gavin Appleby, the former Middle East managing director of OCS group, as managing director of the company’s mechanical, electrical and plumbing arm, EFECO. In a statement to the DFM on Wednesday, Arabtec chief executive Hamish Tyrwhitt said that the announcement “wrapped up” the company’s recent spate of “key management appointments”. Mr[…]

Dubai rents under pressure | GulfNews.com

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DIFC was one of the areas that avoided the downtrend after rents increased four per cent quarter on quarter With a softening market as a bargaining chip, tenants have been getting more favourable terms from landlords in the past several months and could even find more attractive deals this year. While rents in Dubai’s freehold[…]

Emirates Reit reports lower first-quarter profit

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Net profit at Emirates Reit, the UAE’s first listed real estate investment trust, fell by 36.3 per cent in the first three months of this year compared with a year ago because of a slump in valuation gains. According to a company statement on Nasdaq Dubai, net profit for the first three months of this[…]

Abu Dhabi developer Aldar’s net profit in neutral

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First quarter net profits at Abu Dhabi’s largest listed developer, Aldar Properties, remained flat compared with a year earlier as a drop in government income was offset by property and land sales. In a statement to the Abu Dhabi bourse this morning Aldar said that profit attributable to shareholders stood at Dh636 million in this[…]