Real Estate


Banks, property firms still most profitable in UAE

Vicky Kapur Emirates 247 23.11.2010
Banks, property firms still most profitable in UAE

Financial services firms, including banks, insurance and investment companies, and real estate/construction companies are among the most profitable companies in the UAE, dominating the list of the Top 25 profitable entities in the country.

'Speculative' property loans may double UAE banks' bad debt: IIF

Overexposure to the "highly speculative" real estate sector and highly leveraged companies has eroded asset quality of UAE banks, and the percentage of bad loans on the country's banks' books could go up to as much as 10 per cent, according to the Washington-based Institute of International Finance (IIF).

Property rebound boosts UAE bourses

Farah Halime The National 23.11.2010
Property rebound boosts UAE bourses

UAE markets closed in positive territory as a rebound in property stocks pushed shares higher, but an air of caution still hangs.

Union Properties finalizes the sale of Ritz Carlton Hotel at DIFC

Union Properties PJSC (UP), one of the leading property investment developers in the UAE and the recipient of the Superbrands award for 2009, has announced that the terms of the Sale and Purchase Agreement (SPA) relating to the sale of one of its hotels, the Ritz Carlton, DIFC, have been agreed upon and the contract has been signed by both parties.

Registering property in the UAE easiest in the world: World Bank

The UAE leads the world on the ‘ease of registering property’ indicator, part of a new World Bank report that ranks 183 countries globally on key aspects of business regulation for domestic firms.

Khidmah opens new leasing and property management office in Abu Dhabi

Khidmah L.L.C, Abu Dhabi's first Emirati-owned and operated services management company, is pleased to announce the opening of its new leasing and property management office in the city. The office is conveniently located at Khalidiya Village Clubhouse, in the prestigious Khalidiya area of Abu Dhabi.

Snag at handover: property owners get less than promised

Parag Deulgaonkar Emirates 247 21.10.2010
Snag at handover: property owners get less than promised

Snagging experts in the UAE say property owners in most cases are getting less sellable area than what was promised in their sales and purchase agreements (SPA). The variance could be as low as three per cent and as high as 15 per cent.

UAE mortgages surge Dh20b in seven months

Official statistics released today by the Central Bank of the UAE show that despite a slowdown in the country’s property market, mortgages extended by banks in the country increased by Dh19.7bn in the first seven months of 2010.

Ajman to launch property sale price index

The Ajman Real Estate Regulatory Agency (Arra) is working on compiling a sale price index for properties within the emirate as it works to get investors to swap properties to projects under-construction.

Emaar earnings to surge on property handover

Dubai's Emaar Properties remains a lone bright spot in a gloomy outlook for UAE developers, but woes are set to continue for Abu Dhabi's Aldar Properties with an expected third-quarter loss.

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