But potential buyers are also closing in on super-luxury units of Dh180m plus Image Credit: Supplied This penthouse is very special because it has 270-degree views of Downtown Dubai and the sea. Dubai: The costliest penthouse in Dubai has just been sold — a 14,000 square feet full-floor unit at the upcoming Bvlgari Resorts and[…]

By Saeed Azhar and Tom Arnold DUBAI, May 15 (Reuters) – DAMAC Properties expects around 11,000 to 12,000 residential properties to hit the Dubai market in 2017, a steady increase compared to the average over the last two years, the group’s chief finance officer said. Supply of such properties in 2017 would not be far[…]

Chris Nelson If you have ever felt that the noisy neighbours were just too noisy, perhaps living next door to British royalty would provide a more sedate existance. And who more sedate than Queen Elizabeth II? The Buckingham at 7-9 Buckingham Gate is a new ultra-prime residential scheme of six two and three-bedroom apartments, including[…]

Eshraq Properties on Monday said its first-quarter comprehensive loss narrowed year on year as revenue rose. The developer which last month teamed up with Mubadala Development Company to develop plots on Abu Dhabi’s Reem and Al Maryah Islands, said first quarter total comprehensive loss was Dh955,000 against a loss of Dh1 million in the same[…]

Dubai-listed interiors contractor Depa reported a jump in first-quarter profit as it secured new contracts. Net profit during the first three months jumped by 170 per cent to Dh23.5 million. Revenue grew by 15 per cent to Dh369.5m, year-on-year. The “geographic diversity of the group” helped drive growth last quarter, Hamish Tyrwhitt, Depa’s group chief[…]

New 257-room deluxe resort property officially opened by Shaikh Mohammad Bin Khalifa Al Maktoum Shaikh Mohammad Bin Khalifa Al Maktoum after opening Radisson SAS Hotel at Jumeirah Beach. – Gulf News Archives A new 257-room deluxe resort property, the Radisson SAS Hotel Jumeirah Beach, Dubai, was officially opened by Shaikh Mohammad Bin Khalifa Al Maktoum,[…]

Reuters Sunday 14 May 2017 Dubai’s Emaar Properties, builder of the world’s tallest tower, reported a 15 per cent rise in first-quarter net profit on Sunday, broadly in line with analysts’ expectations. The developer, in which Dubai’s government owns a minority stake, made a net profit of Dhs1.384bn ($376.9m) in the three months to March[…]

This could mean more distress for older and lower grade properties in next two years Dubai: Landlords in Dubai holding Grade B office rental properties could be in for a bit of a squeeze. For the first time in 10 years, supply of prime office space is to exceed that of relatively inferior options, according[…]

Aditya Berlia, an executive board member of the Apeejay Stya and Svran Group, a family-run industrial and investment house in New Delhi, talks about bad debt and distressed assets in India. What’s the general scenario like when it comes to bad debt in India? Non-performing loans have been a huge liability for the Indian economy,[…]

India Inc is conducting a fire sale of assets as banks struggle under more than US$190 billion in debt amassed through years of corruption, project delays and economic slowdown. Indian authorities are trying to clean up tens of billions of dollars of bad loans that are weighing on the country’s banks and affecting the wider[…]