Art Dubai 2023 Generates AED143 Million In Economic Impact And Attracts 23,500 Hotel Bookings To Dubai, New Study Reveals
The ’Economic Impact Study’ was published by leading independent market research consultancy IPSOS Art Dubai, the leading international art fair for the Middle East and Global South, today announced that the five-day event, held between March 1 and 5, 2023, has delivered an outstanding direct economic impact of AED143 million to the city. New figures revealed in the ‘Economic Impact Study’ by leading independent market research consultancy IPSOS also showed that the renowned art fair attracted a staggering 23,500 hotel room bookings to Dubai. The recently announced figures demonstrate a significant rise in economic impact, surpassing the most recent comparable data by over
Summary Of Weekly Real Estate Transactions For The Week Ending 19 May 2023
The real estate and properties transactions valued at AED 9.1 billion in total during the week ending 19 May 2023. The sum of transactions was 3,105. 191 plots were sold for AED 1.14 billion, 2,284 apartments and villas were sold for AED 6.03 billion. The top three transactions were a land in Island 2 sold for AED 135 million, followed by a land that was sold for AED 50 million in Business Bay, and a land sold for AED 50 million in Hadaeq Sheikh Mohammed Bin Rashid in third place. Al Hebiah Fifth recorded the most transactions for this week by 54 sales
5 Football Stadiums You Must Visit In Dubai
Image by viarprodesign on Freepik Recent years have witnessed a global football trend in the Gulf countries. After Qatar hosted the 2022 World Cup, and the Club World Cup in the UAE for the years 2017, 2018, and 2021, the Arab masses are still waiting for the establishment of many international football competitions. These tournaments are also accompanied by major football betting events and mass events that attract football fans around the world. The Gulf countries, most notably Dubai, which is a global economic center, host one of the most prominent football stadiums that everyone visits, and that would host major international events
Summary Of Weekly Real Estate Transactions For The Week Ending 12 May 2023
The real estate and properties transactions valued at AED 9.4 billion in total during the week ending 12 May 2023. The sum of transactions was 3,112. 170 plots were sold for AED 1.89 billion, and 2,261 apartments and villas were sold for AED 5.34 billion. The top three transactions were a land in Al Sufouh Second sold for AED 300 million, followed by a land that was sold for AED 148.25 million in Saih Shuaib 4, and a land sold for AED 128 million in Island 2 in third place. Al Hebiah Fifth recorded the most transactions for this week by 57
Emaar Records A 43% Increase In Net Profit For Q1 2023 Achieving Group Property Sales Of AED 9.2 Billion ($2.5 Billion)
Emaar Properties PJSC (DFM: EMAAR) has announced robust Q1 2023 financial results attributed to good property sales performance and operational excellence across its businesses. Key Accomplishment Highlights Emaar reported revenue of AED 6.3 billion (US$ 1.7 billion) in the first quarter of 2023, supported by increased tourism, retail sales and demand for real estate projects in Dubai. Emaar recorded an EBITDA and net profit for the first quarter of 2023 of AED 4.0 billion (US$ 1.1 billion) and AED 3.2 billion (US$ 873 million), respectively, which is an increase of 26 per cent and 43 per cent, respectively, compared to the first
Emaar Development Records 26% Growth In Property Sales To AED 8.603 Billion (US$ 2.342 Billion) In Q1 2023
Emaar Development PJSC (DFM: EMAARDEV), the UAE build-to-sell property development business that is majority-owned by Emaar Properties PJSC (DFM: EMAAR), recorded robust property sales with a 26% increase to AED 8.603 billion (US$ 2.342 billion) in Q1 2023 compared to AED 6.843 billion (US$ 1.863 billion) in Q1 2022. This performance resulted from Emaar Development’s successful property launches, which created a good revenue pipeline for the future and marked steady progress towards the company’s strategic initiatives to further cement its position as a trusted developer. Emaar Development successfully launched seven projects during the first quarter of 2023, Elora in The Valley,
MAG Achieves AED 2.5 Billion in Sales in Q1 2023
MAG, one of the leading real estate developers in the UAE, has announced that its Q1 2023 sales across different projects reached AED 2.5 billion. Offering transformational living through the design of space, MAG’s luxury residential development, Keturah Reserve, located in Mohammed Bin Rashid City, District 7 in Meydan, recorded the sale of all available 93 townhouses, with 70% of the project’s units having already been sold. Over at ‘The Ritz-Carlton Residences, Dubai, Creekside,’ part of the Keturah Resort located on Dubai Creek facing Dubai’s wildlife sanctuary in Ras Al Khor, the penthouses with 360-views of the Dubai skyline, the two-bedroom Sky
MAG launches sales for homes at the Ritz-Carlton Residences, Dubai, Creekside
MAG, one of the leading real estate developers in the UAE, has announced the launch of sales for residential homes at The Ritz-Carlton Residences, Dubai, Creekside, part of the Keturah Resort. The launch follows the successful sales of over 54 per cent of units, including four penthouses at the Butterfly buildings and 16 units at the L-shaped buildings. The Ritz-Carlton Residences, Dubai, Creekside comprise 177 residences across 7 buildings and 12 mansions. Keturah Resort offers homeowners an impressive range of world-class facilities, including 5-star wellness hotel; a private members-only club; a women’s club; a kids club; an immersive, holistic wellness centre;
Deyaar reports increase in Q1 2023 profits, exceeding AED 56 million
Deyaar Development PJSC (“Deyaar”), one of the leading real estate developers and service providers in Dubai, has reported increase in its profits in Q1 2023 compared to the profits of the same period in 2022. This was announced in a filing to the Dubai Financial Market, where Deyaar shares are traded. Deyaar’s financial performance in Q1 2023 reflected impressive results, in a clear demonstration of the company’s continued growth and financial stability. With profits of AED 56.4 million in Q1 2023, Deyaar achieved a remarkable 125% increase from the same period in 2022, where profit stood at AED 25 million. In
Summary Of Weekly Real Estate Transactions For The Week Ending 05 May 2023
The real estate and properties transactions were valued at AED 10.4 billion in total during the week ending 05 May 2023. The sum of transactions was 3,050. 189 plots were sold for AED 1.19 billion. 2,239 apartments and villas were sold for AED 5.11 billion. The top three transactions were a land in Al Thanayah Fourth sold for AED 52 million, followed by a land that was sold for AED 40.62 million in Saih Shuaib 2, and a land sold for AED 35.36 million in Palm Deira in third place. Al Hebiah Fifth recorded the most transactions for this week by 63