ABU DHABI - Aldar Properties and Mubadala Investment Company today broke ground at One Maryah Place, a two-tower Grade A commercial development on Al Maryah Island, Abu Dhabi’s leading business and lifestyle destination.   Located within Abu Dhabi Global Market (ADGM), the project is set to add further high-quality commercial space to the ADGM freezone as demand continues to grow from global corporations and financial institutions.   The project will deliver approximately 98,000 square metres of Grade-A office space across two connected towers, adding considerable weight to ADGM’s position as the region’s premium financial centre.   The towers, which are connected by an indoor walkway, will feature ground-floor retail units, a flagship rooftop dining…

The UAE-based developr RAK Properties has mandated  Commercial Bank of Dubai (CBD) to arrange a 2 billion dirhams ($544 million) syndicated long term financing facility.   The facility will support RAK Properties' Mina Al Arab development, and provide long-term liquidity.    

UAE-based Major Developers and its consultants, Federal Engineering Consultants have announced that steady progress is being made on its AED1 billion ($272 milion) Manta Bay project on Al Marjan Island in Ras Al Khaimah. On completion, this luxury development will redefine luxury living in Ras Al Khaimah, combining modern comforts with architectural brilliance inspired by the majestic manta ray, stated the developer. Featuring a lagoon lake alongside the first-ever attached water jogging track spanning 252 meters and covering an area of 2,500 sq m, Bay is set to offer an immersive island living experience. The building profile, resting on a lagoon, is anchored by the entrance’s striking Great Wall feature, all designed to echo the elegance and allure of the manta ray. The…

On October 7, Sharjah’s Department of Housing (DOH) will commemorate World Habitat Day by showcasing H.H. Sheikh Dr. Sultan bin Muhammed Al Qasimi, the Sultan of Sharjah and a member of the Supreme Council, and his goal of improving housing stability for Emirati families.   Through creative housing services, DOH has committed itself to ensuring that citizens have a decent place to live since its founding in 2010.   The department has provided 6,959 grants and 6,551 loans totaling more than AED 13.5 billion to 13,510 beneficiaries over the last 13 years. This program is in line with the Ruler’s orders to expedite housing assistance and enhance Emiratis’ quality of life.   In the emirate, the department is also pushing forward with residential complex…

ABU DHABI: Abu Dhabi's mortgage market witnessed a robust 20% increase in Q3 2024, with transactions totalling AED13.5 billion across 2,594 deals. This marks the highest quarterly volume in several years. According to Dari, a comprehensive digital platform designed to serve Abu Dhabi's real estate sector, the real estate sector in Abu Dhabi continued to thrive during this period, with total real estate transactions amounting to AED22.7 billion. The emirate achieved a total sales value of AED9.2 billion, selling 3,161 real estate units. This included AED4.1 billion from 1,480 completed units and AED5.1 billion from 1,681 off-plan units. The total value of real estate transactions from the beginning of this year until the end of September reached AED55.6 billion. This was achieved through…

H.H. Sheikh Sultan bin Mohammed bin Sultan Al Qasimi, Crown Prince and Deputy Ruler of Sharjah and Chairman of Sharjah Executive Council, highlighted the significance of digital projects and the need to enhance service levels through efficient, high-quality platforms that ensure ease of use and quick access to proactive and real-time services. These initiatives aim to improve the customer experience and provide a secure digital environment that keeps pace with rapid technological and AI advancements. He made this statement during a review of updates on the Integrated Real Estate Services Platform project, attended by H.H. Sheikh Abdullah bin Salem bin Sultan Al Qasimi, Deputy Ruler of Sharjah, and H.H. Sheikh Sultan bin Ahmed bin Sultan Al Qasimi, Deputy Ruler of Sharjah, at the Ruler's…

Abu Dhabi real estate developer Aldar is giving its existing hotel portfolio a 1.5 billion UAE dirhams ($408 million) makeover to cater to the growing luxury segment.   Existing properties such as the Eastern Mangroves hotel will become a Waldorf Astoria branded luxury resort with a new retail mix, while the Yas Plaza Hotels concept will be reimagined under the IHG brand, turning the six-hotel complex into the largest Vignette Collection resort in the world, Aldar said in an ADX disclosure.   Other properties under the Aldar umbrella will also undergo a transformation with the Tilal Liwa to be redeveloped as a Vignette Collection luxury desert escape, while the Nurai Island will also undergo a “major refurbishment and expansion”. The company’s flagship…

Jubail Island Investment Company (JIIC) has awarded the construction contract for the Jubail Town Centre in Souk Al Jubail at nearly AED 400 million, according to a press release.   The contract has been awarded to Bright Accord General Contracting Company and includes four office buildings and two residential buildings: Jubail Terraces buildings 7 and 8.   Located at the heart of Jubail Island within Souk Al Jubail village, Jubail Town Centre is a family-friendly lifestyle destination offering a modern, vibrant environment that seamlessly blends wellbeing, leisure, and commercial services.     Once completed, Jubail Island will feature uniquely designed community centres, mosques, a medical clinic, educational institutions, a standalone supermarket, and a…

H.H. Dr. Sheikh Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, has issued Law No. (5) of 2024 on Property Leasing in the Emirate of Sharjah.   H.H. the Ruler also issued Law No. (6) of 2024 on the establishment and organisation of the Rental Disputes Centre (RDC) in the Emirate of Sharjah.  

Sharjah-based Alef Group has announced the launch of Samr 1 neighbourhood, a new zone within the Hayyan development project, which follows the remarkable sale of 90% of the units in the Arim and Alma neighbourhoods, a report said.   Issa Ataya, CEO of Alef Group, said: "The successful launch of our newest neighbourhood, Samr 1, within the Hayyan residential project, comes in response to the growing demand for this development, Emirates News Agency, WAM, said.   “Hayyan project "represents a leading model of Alef Group's efforts to strengthen Sharjah's investment sector by providing high-quality real estate that meets global standards.   “It caters to the diverse aspirations of homebuyers, business owners, and investors across all sectors, with a focus on…

SHARJAH – Sharjah-based Alef Group has announced the launch of Samr 1 neighbourhood, a new zone within the Hayyan development project. The announcement of the new project follows the remarkable sale of 90 percent of the units in the Arim and Alma neighbourhoods. Issa Ataya, CEO of Alef Group, said: "The successful launch of our newest neighbourhood, Samr 1, within the Hayyan residential project, comes in response to the growing demand for this development. This reflects Alef Group's commitment to enhancing pioneering community experiences through the delivery of modern and unique residential and commercial facilities." He added that the Hayyan project "represents a leading model of Alef Group's efforts to strengthen Sharjah's investment sector by providing high-quality real…

 Abu Dhabi Global Market (ADGM) and the Department of Municipalities and Transport (DMT) have signed a Memorandum of Understanding to facilitate the transfer of real estate services within ADGM's expanded jurisdiction. As ADGM expands its presence on Al Reem Island, the MoU establishes a strategic partnership between ADGM and DMT to transfer the real estate services and enhance the efficiency and quality of municipal services provided for residents and businesses within ADGM's jurisdiction. The agreement outlines the roles and responsibilities of both authorities, ensuring a seamless transfer of the real estate sector on Al Reem Island from DMT to ADGM, while fostering ongoing collaboration on urban planning, infrastructure, and all other essential services with DMT. Commenting on…