Dubai-headquartered Mashreq Bank has signed an MoU with the Dubai International Financial Centre (DIFC), enabling the bank to operate escrow accounts in the jurisdiction. Mashreq, which was founded as Oman Bank in 1967, is the oldest privately owned bank in the UAE, and was the first to issue credit cards in the country.The DIFC agreement[…]
UAE-based Danube Properties, a leading real estate developer, has announced the completion of Resortz, a Dh300 million ($82 million) luxury resorts-style property that hosts 444 residential and retail units. Once hand-over formalities are completed, homeowners could start moving into their luxury homes in the new year to start a new life full of luxury. Located in Arjan[…]
The lender, in which Emaar Properties PJSC owns a 45% stake, began the restructuring effort last summer. It had previously agreed to new terms on about USD2.7bn of loans in 2014. Faced with a persistently soft domestic real estate market, was forced to seek creditor approval to reschedule around UDS1.2bn in loans originally falling due[…]
At least two airbases housing US troops in Iraq have been hit by more than a dozen ballistic missiles.
Iran launched a missile attack on US-led forces in Iraq in the early hours of Wednesday in retaliation for the US drone strike on an Iranian commander whose killing has raised fears of a[…]
Dubai registered a total of 41,988 real estate transactions in 2019, marking the highest number of sales transactions registered annually in Dubai since 2008, said Property Finder, a leading property portal in Mena. The number of property deals during 2019 also marks a growth of 20 per cent in the volume of registered property sales[…]
Dubai-listed mortgage finance firm Amlak on Wednesday announced that it had reached a deal with 95 per cent of creditors to restructure the debt while talks with the remaining five per cent are underway. Twenty seven creditors are involved in negotiations with 24 agreeing to the deal while talks with three are still on. The[…]
File picture of a construction site in Dubai. There is a need for some balance to come about in primary and secondary market values. Image Credit: Gulf News Archive The law of unintended consequences is often associated with American sociologist Robert Merton, though its general spirit appears in many forms. Not least in Adam Smith’s[…]
“We have sold to hundred different nationalities and it is evolving, given the changing geopolitics and the global economic situation,” he said. Giving the example of Russian buyers, Toivola said they were big at one point but after the ruble tumbled, they became less prominent. In January 2017, Dubai-based English language newspaper Gulf News had[…]
Industry analysts believe a more flexible cap on how much banks can allocate for property lending will ultimately be beneficial for the real estate industry. The Union Law No.10 of 1980 regarding the Central Bank & Organisation of Financial Institutions and Activities had previously mandated banks in the UAE to cap their exposure to commercial[…]
Business Bay had the highest volume of property sales transactions last year with 3,146 Image Credit: Gulf News Archives Dubai registered a total of 41,988 real estate transactions last year, according to Dubai-based real estate insights and data platform Data Finder. This represents a growth of 20 per cent in the volume of registered property[…]
Recent Comments