Real Estate

ABU DHABI / Emirates Business Bahrain-based investment holding firm GFH Financial Group has signed a sale agreement with Integrated Capital (IC), the capital markets arm of Abu Dhabi Financial Group (ADFG), under which IC will acquire a 10 per cent stake in Bahrain’s Falcon Cement Company (FCC) from GFH. The signing ceremony took place between Hisham Alrayes, CEO of GFH ...

Cairo / Emirates Business Egypt-based Business to Business for Investment and Real Estate Marketing -B2B has made sales on belalf for 450 residential, administrative and commercial units in addition to recording 450 leasing transactions by end of 2016, its CEO Nehad Adel said on Monday. B2B seeks to increase the sales and leasing transactions 35 percent by the end of ...

Bloomberg Sales of previously owned U.S. homes dropped more than forecast in February after reaching the second-highest level since 2007 as low inventory levels continue to limit progress in housing. Closings on existing homes, which usually take place a month or two after a contract is signed, decreased 7.1 percent to a three-month low 5.08 million annual rate after a ...

Doha / Emirates Business Investcorp, a leading provider and manager of alternative investment products, announced that its US-based real estate arm, through two separate transactions, has acquired five residential properties in the metropolitan areas of Boca Raton, Florida and Minneapolis, Minnesota for approximately $220mn. The acquisitions are consistent with Investcorp’s strategy to invest in desirable, high quality properties located in ...

Bloomberg U.K. house prices rose 1.3 percent in March, pushing the average above 300,000 pounds ($435,000) for the first time, according to Rightmove Plc. Average asking prices increased 7.6 percent compared with a year earlier, the property-website operator said on Monday. That takes the increase over the past 10 years to 50 percent, more than twice the pace of earnings ...

Dubai / Emirates Business Nine Elms Property Development Ltd, a subsidiary of DAMAC International Limited, has announced a re-branding of its premier residential project in London. AYKON Nine Elms, the 50-storey tower with interiors by Italian fashion house Versace, has been renamed AYKON London One, in a tribute to the skyscraper tower being the only ‘One’ in central London with ...

CAIRO / EMIRATES BUSINESS Egypt’s real estate developer SODIC signed sales contracts worth 4.4 billion Egyptian pounds (US$ 495.5million) during the financial year ended in December 2015, according to a source. SODIC , or Sixth of October Development and Investment Company revenues for the period reached 1.47 billion Egyptian pounds, while its net profit registered 321.331 million Egyptian pounds from ...

Bloomberg When Ethiopian farmer Mulugeta Mezemir ceded his land three years ago to property developers on the fringes of the expanding capital, Addis Ababa, he felt he had no choice. A gated community with white picket fences and mock Roman pillars built by Country Club Developers now occupies the fields he tilled in Legetafo, Oromia region, after the 60-year-old said ...

Emirates Business Real estate investors across the Europe, Middle East and Africa (EMEA) region intend to be very active in 2016. According to CBRE’s 2016 EMEA Investor Intentions Survey almost half (48 per cent) of all surveyed expect their purchasing activity to be higher than last year, compared with just 15 per cent who expect to be less active buyers. ...

Abu Dhabi / Emirates Business Rotana , one of the leading hotel management companies in the Middle East, Africa, South Asia and Eastern Europe, has launched its newest property in Bahrain – the five-star hotel Downtown Rotana , which was inaugurated by H.E. Zayed R. Al Zayani, Bahrain’s Minister of Industry, Commerce and Tourism on Sunday. Rising amidst the traditional ...