Real Estate

  DUBAI / WAM Hussain Sajwani, Chairman of Damac Properties, rang the market opening bell to celebrate the listing of $500 million Sukuk, issued by Damac Real Estate Development Limited (DRED) on Nasdaq Dubai. DRED is a wholly owned subsidiary of Damac Properties PJSC. The listing on the region’s international exchange supports Damac Properties’ capital-raising initiative as it pursues its property ...

  DUBAI / WAM Damac Properties has awarded a contract worth AED40 million to Proscape LLC for the roads and infrastructure works at Vardon cluster within AKOYA Oxygen, a 55-million-square-foot lush green development in Dubai. Mohammed Tahaineh, Senior Vice President of Commercial at DAMAC Properties, said, “We are pleased to award the roads and infrastructure works at Vardon cluster within ...

  Bloomberg India’s notoriously unreliable property developers have been put on notice: clean up your act, or you could end up in jail. Under the laws, developers have to use at least 70 percent of sale proceeds to complete residential projects, rather than funnel money to other jobs, and will no longer be allowed to start pre-selling apartments before all ...

  Bloomberg You can’t blame a homeowner in Fresno, California, for viewing the thriving metropolis to its northwest with both envy and dismay. While San Francisco home values have surged since the recession, Fresno’s housing market is stuck in a rut. Less than 3 percent of homes in the city and its environs have returned to their pre-recession peak, according ...

  Bloomberg Two things happened last week that were a reminder of just how vital real estate has become to Canada’s economy. Statistics Canada released gross domestic product data that showed February was a banner month for sectors linked to housing. The real estate industry, residential construction, financial and legal services generated a combined 0.5 percent increase in output, the ...

  Bloomberg European investors who shunned London’s commercial property in the run-up to the Brexit referendum are flocking back as the weak pound cuts prices and electoral uncertainty on the continent makes the UK seem a good place for buyers to spread their bets. Investors from Europe plowed 1.7 billion pounds ($2.2 billion) into the capital’s offices, shops and warehouses ...

DUBAI / Emirates Business Emaar Hospitality Group, the hospitality and leisure business of Emaar Properties, on Monday unveiled six new hotel projects as part of its regional and international expansion plans, at the Arabian Travel Market (ATM) 2017. The new hotels and serviced residences in Dubai, Abu Dhabi and Egypt add to a portfolio of upcoming properties under the three ...

  Bloomberg London house prices posted their largest annual drop in almost eight years in April as buyers shunned the capital’s central areas. The average asking price in the city fell 1.5 percent to 636,777 pounds ($813,000) this month from a year earlier, the largest annual decline since May 2009, property website Rightmove Plc said on Monday. On the month, ...

  Dubai / Emirates Business DAMAC Properties, a leading luxury real estate developer in the region, on Sunday launched Golfotel, the only premium 5-tower hotel property surrounded by a golf course in Dubai. The announcement was made as part of DAMAC Properties’ participation at the Arabian Travel Market 2017. Golfotel will feature over 2,000 well-appointed contemporary rooms with golf views ...

  Bloomberg Britons’ confidence in the housing market stayed near a three-year low in March as sentiment toward the economic outlook soured, according to Halifax. An index of home-value expectations climbed to 44 from 42 in October, when Brexit pushed it down by a record to its lowest level since June 2013, the lender said. Fifty-eight percent of respondents predict ...