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
MAG gives Dh10 million towards ‘1 Billion Meals’ drive
MAG Group Holding, a versatile conglomerate working across real estate, contracting, engineering, trading, freight, and hospitality, announced its contribution of AED 10 million towards the “1 Billion Meals Endowment” campaign, launched by HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to establish the largest Ramadan sustainable food aid endowment fund. MAG Group pledged to contribute Dh10 million over the next 5 years, to be utilized in creating sustainable programs to fight and eradicate hunger within an institutional framework. Moafaq Al Gaddah, Chairman of MAG Group Holding, said: “The ‘1 Billion
UK Business Expansion To The Middle East Through Franchising
The post-Brexit UK opens up various international markets to assist with business expansion. Want to know how Middle East franchising works? Here is your complete guide to it. Become part of an emerging global market efficiently You can only achieve so much growth if you only focus on the local markets. If you truly desire to progress with your venture, it helps to focus on the international market. In recent years, the Middle East has emerged as a promising prospect. Nations like the UAE and Saudi Arabia are committed to diversifying their economies from fossil fuels and tourism. Let’s look at how
Sobha Realty completes Waves projects at Sobha Hartland Waterfront District
Sobha Realty has announced the successful completion of its iconic Waves project at the waterfront district in Sobha Hartland, which also received the Building Completion Certificate (BCC) well ahead of the construction schedule. The residential tower, which commenced construction in February 2021, is an exquisite 35-storey development located right in front of the 1.8 km waterfront boardwalk in Sobha Hartland. The development hosts several elegant choices of apartments that include 1BR, 1BR + Study, 2 BR and 2BR + Maid’s room. It will be the first development to get ready across the waterfront district of Sobha Hartland offers exceptional views of the Dubai