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Real estate market

Nakheel generates Dh4.38b net profits for 2018

Palm Jumeirah image

Dubai: Nakheel recorded net profit of Dh4.38 billion in 2018, a period in which it has focused heavily on existing projects, both nearing completion and those with a longer timeframe. A year ago, the net profit was Dh5.67 billion. “Nakheel is targeting a substantial increase in annual recurring revenue in the next five years as…

Dubai property prices may fall up to 10% this year: Report

Dubai property prices may fall up to 10% this year: Report

Prices have fallen 25 per cent to 33 per cent in nominal terms since 2014, an S&P report said. Dubai residential property prices will fall another 5-10 per cent this year due to a continued gap between supply and demand, before steadying in 2020, S&P Global Ratings said on Tuesday. The Dubai government’s finances rely…

ENBD Reit earmarks $65m for property acquisitions in 2019

ENBD Reit earmarks $65m for property acquisitions in 2019

The Sharia-compliant real estate investment trust is diversifying the composition of its $456m portfolio ENBD Reit, the Sharia-compliant real estate investment trust managed by Emirates NBD Asset Management, has earmarked $65 million for acquisitions this year as it seeks to diversify its $456m property portfolio amid soft market conditions, an executive said. The Nasdaq Dubai-listed…

Majid Al Futtaim revenue leaps to Dh34.6B on diversification drive

Majid Al Futtaim revenue leaps to Dh34.6B on diversification drive

Dubai firm continues to maintain strong balance sheet with total assets at Dh60.4B Leading retail and leisure conglomerate Majid Al Futtaim reported on Wednesday an 8 per cent growth in revenue to Dh34.6 billion and a 9 per cent increase in earnings to Dh 4.6 billion for 2018. In a statement, the Dubai-based company said…