Union Properties PJSC (Union Properties) (DFM symbol: UPP) has demonstrated continued strong performance in the second quarter of this year, achieving a net profit of AED 18.3 million. This highlights the company’s perseverance to drive sustained profitable growth through robust operational strategies and effective cost management. Sustained by the solid performance of the first quarter of 2024, ‘Union Properties’ witnessed a successful Q2 2024 with revenue from contractual engagements increasing by 7.6 per cent to AED 128 million, up from AED 119 million in Q2 2023. The group’s subsidiaries also contributed significantly, achieving an accumulated gross profit of AED 52.6 million,

VeriEstate, a Dubai-based proptech startup, is set to transform the real estate industry with its innovative all-in-one property assessment platform. Registered with the DIFC Innovation Hub, the largest innovation ecosystem in the region, VeriEstate aims to become a one-stop solution for all aspects of real estate, leveraging cutting-edge technology to enhance transparency and efficiency in the market. VeriEstate, under the leadership of CEO Rajab Ali Virani, is positioning itself as the leading aggregator for real estate inspection services. In its initial phase, VeriEstate will bring together a wide array of inspection firms under one umbrella, providing prospective buyers and renters with

Azizi Developments, a leading private developer in the UAE, has announced the 28% construction completion of Beachfront in Riviera, Azizi’s French Mediterranean-inspired waterfront lifestyle community, located in the heart of MBR City. The structural build of Beachfront I has now reached 73%, and its blockwork 8%, with a total workforce of 900. Beachfront is slated for a Q3 2025 completion. Mr Farhad Azizi, CEO of Azizi Developments, said: “We are thrilled to announce the construction progress of Beachfront. We are committed to delivering a luxurious living experience that reflects the high standards of quality and innovation that we uphold, and look forward

DMCC – the world’s flagship free zone and Government of Dubai Authority on commodities trade and enterprise – has announced key performance results across the first half of 2024, recording 1,023 new member company registrations to take its total to almost 25,000 companies across its business district. DMCC now accounts for 15% of all foreign direct investment (FDI) in Dubai, up from 11% last year, as well as 7% of the emirate’s GDP. As part of its efforts to attract the next wave of global investment to Dubai, DMCC’s focus for the second half of 2024 remains the consolidation of its

Al Habtoor Group, a pioneer in the construction and real estate industry, is proud to announce remarkable construction progress at Al Habtoor Tower, poised to become a new icon on Dubai's skyline. Under the visionary leadership of Khalaf Ahmad Al Habtoor, Founding Chairman of Al Habtoor Group, this landmark development has reached significant milestones that are setting new standards in architectural design and construction excellence. Within its first year, Al Habtoor Tower has established unprecedented benchmarks in construction, utilising 100-metre deep BARETTE foundations a world record. The project boasts an innovative six-day floor cycle time for construction above ground, showcasing the

A landmark phase of development is transforming one of Dubai's prime residential neighbourhoods, attracting investors with an extraordinary AED7 billion collection of ultra-luxury villas and mansions.   Gaining recognition as the ‘Downtown Villas of Dubai’, this new community taking shape in the Al Wasl District offers both investors and end users the rare commodity of luxurious freehold homes in the heart of the city.   Its focal point is the AED 1 billion Nordic by fäm development, a sumptuous assortment of 17 villas and mansions within touching distance of Dubai’s Central Business District, and prime lifestyle landmarks.   "The supply of freehold villas with immediate

Azizi Developments, a leading private developer in the UAE, has announced the 41% construction completion of Azizi Vistain Dubai Studio City, one of Dubai’s most distinguished residential areas. Featuring studio apartments and one- and two-bedroom residences, the development’s projected completion date is set for Q1of 2025. With overall finishes currently at 23%, progress on Azizi Vista is advancing rapidly.The structural work is 100% complete, blockwork at 96%, internal plaster at 74%, and HVAC and MEP at 39% and 36%, respectively. The total manpower has been increased to 447. In his comments, Mr.Farhad Azizi, CEO of Azizi Developments, said: “Through our rigorous quality

DAMAC Capital, the investment arm of the globally renowned DAMAC Group, has announced strong ROI its strategic investments in SpaceX and Stripe. The investments underscore DAMAC Capital's continued commitment to pioneering advancements in technology and innovation at a global scale, propelling its portfolio into sectors with significant growth potential. DAMAC has been active in the space tech industry since the COVID-19 pandemic period. SpaceX founded by Elon Musk, is at the forefront of space exploration and technology, revolutionising space travel and connectivity. Meanwhile the Group welcomed a positive ROI on Stripe within a year into its the investment. A leading online payment

Emaar Development PJSC (DFM: EMAARDEV), the UAE build- to-sell property development business that is majority-owned by Emaar Properties PJSC (DFM: EMAAR), achieved 56% increase in property sales reaching to AED 29.7 billion (US$ 8.1 billion) for the first half of 2024 (January to June) compared to AED 19 billion (US$ 5.2 billion) for the first half of 2023. This performance resulted from Emaar Development's successful property launches, which created a strong revenue pipeline for the future and marked steady progress towards the company's strategic initiatives to further cement its position as a trusted developer. During the first half of 2024, Emaar

Magnom Properties, a subsidiary of Saudi Arabia’s Rawabi Holding, has announced a groundbreaking achievement for its upcoming Forbes International Tower, as it becomes the first tower in the world to officially register for the International Living Future Institute (ILFI) Zero Carbon Certification. The new milestone brings Magnom Properties one step closer to delivering the lifecycle net negative carbon vision of the futuristic Forbes International Tower, planned in Saudi Arabia, the UAE, and Egypt. US-based ILFI‘s Zero Carbon Certification is a third-party verified, industry-recognised standard with some of the most robust sustainability requirements to verify the operational and embodied carbon emissions of