Dubai’s property giant Emaar reports slight profit increase | THE DAILY TRIBUNE

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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[…]

Union Properties slips into Dh218.8m loss

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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[…]

No school fee hikes allowed in Dubai this year: KHDA

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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[…]

Building next phase of Dubai real estate

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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[…]

UAE stocks limit virus-led damage for now

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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 in Dubai watch out, taxmen are behind you

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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[…]

Emaar’s 2019 net profit hits Dh6.2b – News

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Emaar Properties, Dubai’s largest listed developer, reported on Wednesday a net profit of Dh6.2 billion in 2019, up one per cent compared to 2018’s net profit of Dh6.139 billion. The developer of the iconic Burj Khalifa, the world’s tallest tower, posted a net profit of Dh1.76 billion in the October-December period, compared to Dh1.79 billion[…]

Dubai News | News Centre

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Wednesday, February 12, 2020 Emaar records property sales of more than AED 19.233 billion (US$ 5.236 billion) and achieved Net Profit of AED 6.200 billion (US$ 1.688 billion) in 2019   UAE property sales reached AED 14.949 billion (US$ 4.070 billion) in 2019 Sales backlog now stands at AED 45.795 billion (US$ 12.468 billion), to[…]