News
Trend driven by Expo 2020’s massive housing requirements Last year witnessed a rush of developers launching new projects. This year off-plan launches have slowed down significantly. There have been 7,800 units launched so far this year, significantly less compared with around 18,000 last year and the lowest for the past three years, says Faraz Ahmed,…
Its sales backlog now stands at Dh36b, boosted by a further 19 launches this year Dubai: Emaar Development recorded slight dips in nine-month net profit and revenues — at Dh2.07 billion and Dh9.62 billion — from a year ago. The corresponding numbers for 2018 were Dh2.5 billion and Dh10 billion. In the third quarter, net…
Dubai’s Real Estate Regulatory Agency (RERA) announced 10 core ethics, real estate companies must follow while operating in Dubai. The list of principles released by RERA, part of Dubai Land Department (DLD), will help maintain Dubai’s status as a global investment haven, a statement said. The real estate principles include: – Trust: Real estate companies must…
Net profit is at Dh133m for first nine months against Dh1.1b a year ago Dubai: Damac Properties recorded a sharp decline (46 per cent) in nine-month revenues to Dh2.8 billion from Dh5.2 billion. Net profit was down to Dh133 million from Dh1.1 billion a year ago, a drop of almost 88 per cent. Booked sales…