Higher impairment charges hit UAE banks Emirates NBD and ADCB
Dubai's biggest lender Emirates NBD reported a 15% drop in fourth-quarter earnings on Monday, below analysts' forecasts, on a jump…
Property & Real Estate
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Middle East investments in US real estate soar during 2019
Demand from Middle East investors for US real estate has intensified over the last year, bolstered by the continued strength…
Australia's CIMIC expects to take $1.8bn hit on Middle East exit
Australian contracting group Cimic is exiting the Middle East, a move which it says, could result in an A$1.8 billion…
Bahrain's Investcorp raises $130m for Indian affordable housing initiative
Bahrain-based alternative asset management firm Investcorp has announced it has raised $130 million in anchor commitments which will primarily provide…
Dubai property achieves supply-demand balance, prices hit lowest mark: developers
Dubai's top private developers believe that a demand-supply balance has been achieved to some extent, and that prices are at…
Online facility to reclaim VAT on new homes in UAE
The UAE Federal Tax Authority has launched a new and enhanced platform on its website to further streamline the process…
Dubai property market will recover in 2020, says expert
UAE-based residential, hospitality and commercial property developer Seven Tides has indicated Dubai’s property market will start to recover in 2020,…
Saudi investors in talks to buy London’s Ritz hotel, says report
A private investment group representing wealthy Saudi Arabian families is reportedly in talks to buy London’s famous Ritz hotel. …
Shangri-La Dubai hotel tower sold at auction for $190m
A landmark hotel property in Dubai operated by Hong Kong’s Shangri-La Group of Hotels has sold for AED700.2 million ($190.62…
Azizi Developments Partners With Dubai Islamic Bank
Azizi Developments, had signed partnership agreements with several leading banks in the region to offer its customers customised financing solutions.…
In Dubai, developers turn mortgage providers
Banks in the UAE are just not offering enough mortgages to support home ownership – and even when they do…
ENBD signs agreement with DLD to offer trust account services
Emirates NBD had signed an agreement with Dubai Land Department’s Real Estate Regulatory Agency, to become an escrow agent to…