Centre, The Marina 101 Tower in Dubai Marina, Dubai. Image Credit: Photo: Antonin Kélian Kallouche/Gulf News Dubai: Abu Ali Shroff, the founder of Sheffield Holdings Limited, claims he’s still the developer of the Marina 101 tower in Dubai Marina and that banks have not taken over the project, as had previously been reported. Investors have[…]

Dubai-based construction giant Emaar Properties reported yesterday a slight increase in its 2019 net profits, despite falling real estate prices. The one percent increase, although minimal, comes amid falling prices in Dubai’s key real estate market, where companies — including leading private developer Damac Properties — have been struggling to make a profit. Emaar posted[…]

One of Union Properties’ signature communities – Uptown Mirdif. The developer recorded losses of Dh218.8 million for 2019. Image Credit: Gulf News Archive Dubai: Union Properties slipped into losses totalling Dh218.8 million against net profits of Dh62.32 million a year ago. Bank financing costs related to subsidiaries’ loans “contributed significantly” to achieving net losses last[…]

Families in Dubai won’t have to worry about higher education-related expenditures this coming school year. Dubai’s Knowledge and Human Development Authority (KHDA) announced on Thursday that no private schools will be eligible to increase their tuition fees for the 2020-21 academic year. The decision comes even when the country’s overall cost of living has dropped[…]

Even in a soft market, property buying in Dubai has been maintaining a decent clip. Image Credit: Gulf News Archive Once upon a time, in the fictional kingdom of assets, the prevailing doctrine was that the acquisition of financial and real estate assets were a form of savings – the ability to get higher “coupon[…]

By Davide Barbuscia DUBAI, Feb 13 (Reuters) – Dubai real estate investment trust ENBD REIT ENBDREIT.DI is facing opposition to going private from some shareholders who fear the move could further erode its value, two sources said. The trust, managed by the asset management unit of Emirates NBD ENBD.DU, Dubai’s largest bank, has said it[…]

For now, stocks on Dubai Financial Market have had a limited fallout from the virus shock. Image Credit: Gulf News Archive Dubai: While UAE stock markets have contained the worst of the virus-induced volatility, no one is celebrating as yet. The risks are higher as stocks in the UAE, as with other Gulf-based markets, are[…]

Indian and Pakistani investors have been heavy hitters in Dubai’s real estate. Tighter scrutiny by tax authorities there could dampen inward flows. Image Credit: Shutterstock Dubai: Investment flows into Dubai property market from India and Pakistan could come under severe pressure as tax authorities back in Indian and Pakistan take a closer look at overseas[…]