April 23, 2019

DUBAI, 22nd April, 2019 (WAM) -- The 23rd Annual General Meeting,AGM, of Emaar Properties PJSC today approved the distribution of AED 1.07 billion (US$ 290 million) as dividend to the shareholders, representing 15 percent of the share capital being 15 fils per share.

The meeting approved the report by the Board of Directors on the activities and financial position of the company, the Auditor’s report, and balance sheet for 2018. KPMG was appointed as the auditor for 2019.

Addressing the assembly, Mohamed Alabbar, Chairman of Emaar Properties, said: 'We are"...

April 23, 2019

Dubai developer Meraas has signed an agreement with Singapore-based Chinese company Samanea Group that will see a AED1 billion ($272 million) mall come to fruition in 2021 near Dubai International City.

The inaugural Big C Forum witnessed the signing, with six key Chinese manufacturers and businesses also inking the letter of intent, a statement said.

Samanea Group will develop the 570,000 sq ft retail outlet which will focus on home appliances and furniture from small, medium and big Chinese businesses seeking a foothold in the GCC market. The mall will also hold"...

April 22, 2019

DUBAI, 21st April, 2019 (WAM) -- Jebel Ali Customs Centres carried out around 766,000 customs transactions and made 30 seizures during the first quarter of 2019.

The strategic customs management, which performs all customs operations of Jebel Ali Port; the largest marine terminal in the Middle East and the flagship facility of DP World’s portfolio of over 65 marine terminals across six continents, showcased its latest achievements to the Director of Dubai Customs, Ahmed Mahboob Musabih, during his visit to the centre.

Musabih met with Yousef Al Hashimi, Director"...

April 22, 2019

The fourth Annual General Meeting (AGM) of Emaar Malls will be held on April 23, 2019, which will discuss the proposal of the board of directors to distribute cash dividends to shareholders amounting to Dh1.301 billion, representing 10 per cent of the share capital being 10 fils per share.

The meeting will also seek approval of the report by the board of directors on the activities and financial position of Emaar Malls, the auditor's report, and the company's balance sheet for 2018. The auditor for 2019 will also be appointed by the assembly. One of the world's largest mall operators with a total gross leasable area of 6.7 million"...

April 22, 2019

Markaz Knowledge City (MKC), India's first knowledge city developed at an estimated investment of US$ 435 million (INR 30 billion) and spanning over 125 acres of land in the South Indian state of Kerala, will go functional at full-scale this year promising massive investment returns for Indian expatriates.

The education-focused integrated infra-development and the futuristic township combining cultural, educational, residential and commercial properties located at Kaithapoyil in Kozhikode, Kerala, offers attractive returns for investors. Once fully operational, the development with multiple projects spanning over a total of 3 million square"...

April 22, 2019

Arzan Wealth (DIFC) Limited (‘Arzan Wealth’), a Dubai-based advisory firm regulated by the Dubai Financial Services Authority, is pleased to announce that it has advised on the acquisition of a portfolio of three newly refurbished office buildings in Amsterdam, The Netherlands (“Quarter Offices buildings”).

The Quarter Offices buildings are located in the Sloterdijk business district in Amsterdam, which is a growing and important office location for business services, and includes several head offices. The properties are immediately adjacent to Amsterdam’s A10 ring road which provides excellent connectivity to the"...

April 21, 2019

The UAE offers plenty of opportunities to foreigners who are willing to invest in real estate sector to secure a long-term visa following a reform process initiated by the government last year.

Property investors can invest in more than 40 communities across the UAE, mainly in Dubai, to secure a long-term visa and better returns on their investment. Majority of foreigners prefer to invest their money in residential properties, but real estate experts suggest that commercial properties"...

April 20, 2019

Bloom Holding, an Abu Dhabi-based property developer, is in talks over a private placement and expects a deal this year, as it progresses its schemes in the UAE capital – including a Dh5bn ‘mega-community’ masterplan to be finalised this year.

“We are in continuous talks with prospective investors to form a strategic partnership for a private placement, and are hoping for a deal this year – it will be great if that happens,” Bloom Holding’s chief executive Sameh Muhtadi told The National.

A private placement is a capital raising"...

April 20, 2019

(WAM) -- The 23rd Annual General Meeting, AGM, of Emaar Properties PJSC will be held on Monday, 22nd April 2019, in Dubai. If the meeting falls short of quorum, the AGM will be held at the same time and venue on Monday, 29th April 2019.

The AGM will propose the distribution of AED 1.07 billion (US$ 290 million) dividend, representing 15 percent of the share capital being 15 fils per share, to shareholders. The meeting will also receive and approve the report of the Board of Directors on the activities and financial position of the company for the year ending 31st December

2018;"...

April 18, 2019

In his capacity as Ruler of Abu Dhabi, the President, His Highness Sheikh Khalifa bin Zayed Al Nahyan, has issued a law amending provisions of Law No. 19 of 2005 concerning real estate sector in Abu Dhabi.

The new law stipulates amendments to Articles 3 and 4 of the 'Real Property Law'.

Article 3 (i) stipulates the rights to own property are limited to three categories the first being Emirati citizens, natural or legal persons, the second includes public holding companies with ownership not exceeding 49 per cent non-nationals, or the third as any person to"...