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Sobha Group, Umm Al Quwain to build $6.8bn island resort

The Government of Umm Al Quwain and UAE real estate developer Sobha Group are to build an AED25 billion ($6.8 billion) resort development on an island off Umm Al Quwain, the parties announced this week. The scheme, named ‘Firdous Sobha’, comprises a luxury seafront villa community, hotels and resorts, apartments, boutique shops, an 18-hole golf…

Dubai property market ‘shows signs of bottoming out’ in Q1

Dubai house prices registered small increases in some areas of the emirate during the first quarter of 2016 following nine months of little change, according to a new report. Real estate consultants ValuStrat said there were “minute indications of an early recovery” in some parts of Dubai, signalling possible signs of a bottoming-out in property…

New marvel in UAE: A residential project built on a carpet

Al Qudra to launch Al Sadu project on Al Reem Island Intricately woven towers, with the podium resembling a handcrafted carpet, will be a reality in the UAE. Al Qudra Real Estate, the real estate arm of Al Qudra Holding, is planning to launch a five tower residential project in Al Reem Island, Abu Dhabi….