The board members of Emaar The Economic City (EEC) approved a transformative business strategy in line with Saudi Vision 2030, according to a press release. This strategy covers a SAR 8.70 billion capital optimisation plan (COP) that includes restructuring of all of the company’s SAR 3.80 billion in bank debt facilities, the full conversion to share capital of SAR 4 billion of its debt owed to the Public Investment Fund (PIF), and a new convertible shareholder facility of up to SAR 1 billion from PIF. Developed based on extensive assessment and analysis over the past two years, the COP is expected to provide a comprehensive solution to stabilise the company’s financial and operational platforms and enhance its capital structure. It also backs Emaar The Economic City’s…

 Binghatti, the leading Dubai-based property brand launches the first project in Al Jaddaf this year, Binghatti Ghost. This highly anticipated development marks Binghatti’s comeback to the area driven by unprecedented demand from the market after a two-year hiatus.   The new project will feature a total of 770 residential units. In addition to these sought-after living spaces, Binghatti Ghost will also include six premium retail shops, enhancing the community's commercial appeal.   Historically, Binghatti’s properties have recorded substantial capital gains for investors, with the developer’s previous projects recording up to 40% capital gains for investors. Binghatti Ghost promises exceptional investment potential with high rental yields and a strong…

UAE -  Azizi Developments, a leading private developer in the UAE, has announced the completion of 40% construction of Beach Oasis, its vibrant mixed-use community located in Dubai Studio City. Beach Oasis is scheduled for handover in Q2 of 2025. The structural build has now reached 96%, while its blockwork, MEP, internal plastering, and HVAC have reached 50%, 19%, 14%, and 16% respectively, with the total workforce having been increased to 1,318. Comprising 476 studios, 200 one-bedroom homes, and 36 two-bedroom residences spread across two buildings, Beach Oasis is a modern low-rise residential community that also features an outstanding array of amenities, including a large beach-like swimming pool — the highlight of the project’s central courtyard — fully…

Samana Developers, one of the leading developers in Dubai, on Thursday made its debut in waterfront properties with the launch of two new projects worth Dh660 million ($179.69 million). Samana Ocean Pearl 1 and Samana Ocean Pearl 2 on Dubai Islands were sold out in just two hours, it said. Meanwhile, Samana Developers revealed it has purchased more plots on Dubai Islands and planned to unveil new projects in coming days to meet the demand. Set against the backdrop of the Arabian Gulf, Samana Ocean Pearl projects on Dubai Islands introduce a new set of waterfront living. Both projects, spanning 237,913.2 sq ft each, are thoughtfully designed and feature a selection of one-, two, three-bedroom apartments and four-bedroom penthouses. Each unit offers residents a private pool. Nakheel, the…

IMAN Developers, a leading Dubai-based luxury residential developer, has onboarded Versace Ceramics for One Sky Park, a landmark mixed-use development in Jumeirah Village Circle (JVC), using exclusive Versace Ceramics tiles in the community. With a total value of AED800 million ($217 million), One Sky Park will feature Versace Ceramics in apartments, lobby and common areas, elevating urban living by seamlessly blending fashion-forward design with luxury and functionality, a statement said. One Sky Park, featured by Versace Ceramic will be a distinctive addition to IMAN Developers' portfolio, offering a unique lifestyle centred around style and sophistication. The development comprises two iconic towers — Tower A and B with 26 and 37 floors respectively —each featuring a…

Dubai-based property brand Binghatti announces the launch of Binghatti Royale in Jumeirah Village Circle (JVC). The launch comes in response to the soaring demand for Binghatti projects in the area following the rapid sell-out of back-to-back projects, some recording sell-out periods as quick as 24 hours.   Binghatti Royale is features a unique circular architectural identity. The building features 354 residential units ranging from one to three-bedroom apartments and 16 retail spaces across 47 floors.   “We are thrilled to announce the launch of Binghatti Royale in Jumeirah Village Circle. The rapid sell-out of our recent projects highlights the market’s substantial demand for our projects in the area and we are pleased to introduce our latest creation to meet…

ABU DHABI - Bloom Holding, one of the UAE’s leading real estate development companies, has announced the commencement of the handover process for units in Cordoba, the first phase of Bloom Living, a fully integrated community in Abu Dhabi. The handover process started ahead of its scheduled delivery date of December 2024, offering 257 spacious residential units, including three- to six-bedroom detached villas and two- to three-bedroom townhouses with modern finishings and facilities. This phase's remarkable completion follows its successful launch in March 2022, where all units sold out within four hours of release. Carlos Wakim, CEO of Bloom Holding, said, “Delivering Cordoba earlier than anticipated demonstrates our commitment to excellence and our ability to exceed our…

Burj Azizi, the planned skyscraper by Azizi Developments on Dubai’s Sheikh Zayed Road will reach a height of 725 m, making it the world’s second tallest tower when built, according to the developer. The 131+ storey skyscraper will launch for sales in February 2025, and is scheduled for completion by 2028. It will feature a unique all-suite seven-star hotel inspired by seven cultural themes, alongside residences that include penthouses, apartments, and holiday homes. Burj Azizi will also offer a range of amenities, such as wellness centres, swimming pools, saunas, cinemas, gyms, mini markets, resident lounges, a children’s play area, and more. Moreover, the tower, which will be the only freehold property on Sheikh Zayed Road, will include a vertical retail centre…

Aldar Properties today announced the launch of Yas Riva, a villa community on Yas Island, offering both canal-front and canal-accessible homes designed for relaxation in a waterfront setting. Yas Riva provides a unique lifestyle with direct canal access, making it one of the few residential developments in Abu Dhabi with this feature. Each canal-front home will have a private dock, allowing residents to explore the surrounding waterways by boat. The canal-front villas feature a design that complements the surrounding landscape, reflecting the movement of water. The villas further inland have contemporary architecture with views of landscaped gardens and parks. These villas also have access to the canal front via dedicated walkways. The design is minimalist, providing a backdrop for the…

UAE -  SOL Properties, a leading UAE developer, said it has begun construction of the premium residential ‘Fairmont Residences Solara Tower Dubai’, further elevating the regional real estate landscape by implementing stringent green building principles and advanced energy-efficient technologies. Fairmont Residences Solara Tower Dubai will bring a new level of luxury, experiences and authentic service to the vibrant city of Dubai under Fairmont Hotels & Resorts, a globally leading luxury hotel brand within the Accor group, the developer said. Fairmont will guide the project’s design, ensuring it embodies the brand’s commitment to providing homeowners with exclusive privileges. Residents will enjoy unique access to integrated services and luxurious…

UAE - Azizi Developments, a leading private developer in the UAE, has announced its partnership with Danfoss, an internationally renowned manufacturer of heating, cooling, drives, and hydraulic systems, for the supply of top-tier BTU meters across its various projects in Dubai.   The developer’s projects in Dubai South, MBR City, Dubai Studio City, Al Furjan, Dubai Sports City, and Dubai Healthcare City, include Azizi Venice, Riviera, Azizi Vista, Azizi Central, Azizi Grand, and Creek Views III. Tizian H G Raab, Head of PR & Communications at Azizi Developments, said: “We are thrilled to be partnering with Danfoss, a true pioneer in energy-efficient technology, for the supply of advanced BTU meters across several of our Dubai projects. “This strategic…

Talaat Moustafa Group (TMG), one of the largest integrated institutions in Egypt and the Middle East, announced that it has begun legal and technical procedures to establish projects and investments in Iraq.   The group stated that further details about these projects will be announced when the related execution procedures begin. The company is committed to adhering to the rules of disclosure and listing in this regard, according to TMG’s statement to the Egyptian Exchange (EGX). In July, Iraqi Prime Minister Mohammed Shia’ Al-Sudani received a delegation of Egyptian and Saudi businessmen, including Hisham Talaat Moustafa, CEO and Managing Director of Talaat Moustafa Group. During the meeting, the Iraqi Prime Minister invited Egyptian and Saudi companies, due to their…