Saturday 21 October 2017

Contract awarded for Marassi Al Bahrain residences

Eagle Hills Diyar, developer of distinguished urban project Marassi Al Bahrain, has awarded the main construction contract for its 38,500-sq-m Marassi Boulevard residential component to Kooheji Contractors, a leading Bahrain-based contracting firm. Marassi Boulevard is a four-building


Dubai’s residential transactions up 11pc in H1

Dubai’s residential sales market has witnessed solid growth this year with the total value of transactions increasing 11 per cent in the first half of 2017 over the same period last year, according to a report by the global real estate consultancy CBRE. This was mainly driv


MAG Property seals big Rolls-Royce Ghost cars deal

MAG Property Development (MAG PD), the property development arm of MAG Group, has announced a deal with Rolls-Royce Motor Cars Dubai that will see it become the owner of the biggest fleet of Rolls-Royce Ghost model motor cars in the Middle East region. The fleet, comprising 12 Gh


Invest AD, Brookfield set up new real estate JV

Invest AD, a leading asset manager based in Abu Dhabi, UAE, said it has joined hands with Brookfield Asset Management, a leading global alternative asset manager, to establish a new venture, with a view to creating institutional quality investment products comprising UAE real estate, including


Danish group JYSK set for Mideast launch

UAE-based developer Cityland Group has signed an agreement with Danish home furnishing retailer JYSK to launch its flagship store at Cityland Mall, the first nature-inspired mall to be built in the UAE. With this tie-up, JYSK, one of the largest retail furniture groups with more


Over 300 hotels 'under construction' in the Middle East

The Middle East's hospitality sector has registered a total of 96,694 rooms under construction in 302 projects, representing a 15.9 per cent increase in rooms being built compared with the same period in 2016. According to the STR September 2017 Pipeline Report, the Middle Ea


Damac's Just Cavalli villas in record sell-out

Damac Properties, a leading luxury real estate developer in the region, has announced the complete sell-out of all units in Phase One of Just Cavalli villas at its golf development, Akoya Oxygen, in Dubai. Just Cavalli villas were borne out of a recent collaboration between Damac Prope


Abu Dhabi awards Qasr Al Hosn revamp contract

The Department of Culture and Tourism in Abu Dhabi has awarded a Dh500-million ($136 million) contract to Zublin Construction for the refurbishment and conservation of the Cultural Foundation Building at Qasr Al Hosn, the symbolic birthplace of the capital of the UAE, reported state news agency


Ibdar Bank buys prime US office building

Bahrain-based Islamic investment bank Ibdar, in collaboration with leading US property manager Lincoln Property Company and asset manager Ritz Banc Group, has acquired a prime office building in Boston, US, currently the headquarters of Amazon Robotics, a wholly-owned subsidiary of Amazon Inc f


Bahrain Marina project on track, piling in January

Work is progressing well on Phase One of Bahrain Marina, an iconic mixed-use project featuring a mix of residential, leisure, entertainment and marina facilities, with the piling likely to start in January next year, said the project developer. ‘Bahrain Marina’, dubbe

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