Edgnex Data Centers by Damac, a major digital infrastructure company and a fully owned unit of Dubai-based real estate developer Damac, has announced its strategic entry into the US data centre market, marking a transformative phase in its international expansion. Since its inception in 2021, the group has rapidly expanded across the Middle East, Southeast Asia and Europe, setting the stage for a strategic entry into the US market. It brings and sets new benchmarks in secure, scalable, and sustainable digital infrastructure. Edgnex, with a management team of 100+ professionals based in the Middle East, Europe and Asia, is actively expanding its team to support these growth plans. The Damac unit is set to initially pump $20 billion into the market with a plan to potentially double the…

Aldar Properties, Abu Dhabi-based property developer and real estate asset manager, which is selling a US dollar 30.25-year non-call 7.25 hybrid bond, has set the deal size at $1 billion. Books are in excess of $4 billion, excluding joint lead manager interest. The initial price thoughts are in the 6.875% area. The Regulation S notes are rated Baa3 by Moody's, one notch below the issuer's Baa2 rating. Abu Dhabi Commercial Bank, Bank of China, Citigroup, Emirates NBD Capital, First Abu Dhabi Bank, HSBC, Intesa Sanpaolo London branch, JP Morgan, Mashreqbank, RAKBANK and Standard Chartered are joint lead managers and bookrunners. The proceeds will be used for general corporate purposes. (Writing by Brinda Darasha; editing by Seban Scaria)

Real estate transactions in Ajman totalled AED2.28 billion in December 2024, marking a record growth of 102 percent compared to the same period in 2023, according to the Real Estate Report issued by the Department of Land and Real Estate Regulation. Omar bin Omair Al Muhairi, Directo-General of the Department, stated that the number of real estate transactions in December 2024 reached 1,169, including 935 property trades valued at over AED1.86 billion. He noted that Al Jurf 1 recorded the highest property sale at AED300 million. Al Muhairi highlighted that Ajman’s real estate market is experiencing unprecedented growth, achieving record figures that reflect the sector's quality, the diversity of investment opportunities, and its appeal to investors across various segments. The…

DUBAI: His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister, and Ruler of Dubai, has approved the implementation of a series of housing projects worth AED5.4 billion to benefit citizens across different areas of Dubai. The projects will see 3,004 new homes being built for Emirati citizens. Of these, 1,181 homes will come up in Latifa City for beneficiaries under the housing loan category. For beneficiaries in the housing grant category, the projects envisage 606 new homes in Al Yalayis 5, 432 homes in Wadi Al Amardi, 398 homes in Al Awir 1, 200 homes in the Makan area of Hatta, 120 homes in Oud Al Muteena, and 67 homes in the countryside and rural areas of Dubai. The housing projects, offering diverse options for Emirati citizens, align with the Sheikha…

ABU DHABI: The UAE’s real estate sector maintained its growth momentum throughout 2024, marked by an increase in real estate projects and infrastructure investments, reinforcing its position as a key pillar of the country's economic growth. The vibrant real estate markets across the emirates underscored the UAE’s status as a global hub for property investments and an attractive destination for high-net-worth individuals who play a vital role in stimulating market activity, particularly in luxury real estate. The property markets in Abu Dhabi, Dubai, Sharjah, and Ajman witnessed significant activity in transaction volumes over the past year, maintaining positive performance levels thanks to diverse investment opportunities and growing demand for various property…

HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister, and Ruler of Dubai, has approved the implementation of a series of housing projects worth AED5.4 billion ($1.5 billion) to benefit citizens across different areas of Dubai. The projects will see 3,004 new homes being built for Emirati citizens in Dubai, of which 1,181 units will come up in Latifa City for beneficiaries under the housing loan category, reported Wam. For beneficiaries in the housing grant category, the projects envisage 606 new homes in Al Yalayis 5, 432 homes in Wadi Al Amardi, 398 homes in Al Awir 1, 200 homes in the Makan area of Hatta, 120 homes in Oud Al Muteena, and 67 homes in the countryside and rural areas of Dubai. Sheikh Mohammed said: "Housing programmes for citizens represent a…

Dubai Municipality has announced that it has awarded contracts for Phase Two of Al Mamzar Beach Development Project coming up on a 125,000-sq-m area in the city. Work on Phase One began in June last year and now stands 45% completed. The total cost of the project is projected to be around AED400 million ($109 million) across both phases. On Phase One work, the civic body said covering an area of 275,000 sq m, the beach ranges in width from 30 to 90 metres at various points. The project includes the construction of a 200-m-long pedestrian pontoon bridge to connect the two banks of the creek, ensuring ease of access for the public. It also features a 300-m-long night swimming beach designed to be accessible for people of determination, along with a 5-km walkway and dedicated running and…

During the year of 2024, Reportage Group achieved a significant milestone by surpassing a sales value of AED 5.7 billion (approximately over 1.6 billion USD). This accomplishment not only underscores the company’s exceptional performance but also represents a more than 50% increase in total revenue compared to the same period in 2023. This achievement is particularly significant considering Reportage's unwavering commitment to a 'zero-leverage' and 'debt-free' strategy. Every project is developed without reliance on mortgages or any form of leveraged financing, ensuring the company's resilience and sustainable long-term stability in the market. Beyond the impressive numbers, this success cements Reportage’s position as a leader in the UAE real estate market. By offering…

Dr. Abdul Rahim bin Ahmed Al Farhan, a market expert, expects the unmatched Dubai real estate boom to continue in the long term thanks to several factors, most notably rapid population growth, architectural diversity in the projects offered, and the emirate’s strong and diverse economic system. In a press release issued on Tuesday, Al Farhan pointed out that the real estate sector in the emirate has greatly benefited from the strong and advanced infrastructure, in addition to mega projects such as Expo 2020, which have contributed to prove the emirate’s position on the global real estate map. The expert added that the Emirate of Dubai provides attractive real estate options for everyone with different, making the Dubai market a major attraction for real estate investors from…

The record AED120 million ($32.7 million) sale of a luxury villa in Dubai’s Emerald Hills community highlights an investment strategy delivering exceptional returns for ultra-high-net-worth individuals (UHNWIs). The sale brought a AED40 million ($11 million) profit for an investor who retained fäm Properties to find the ideal plot, design and manage construction of the stunning 25,000 sq ft villa, and secure an off-plan buyer. It’s a formula which the company says can help UHNWI’s unlock the full potential of Dubai’s ultra-luxury real estate market, with two more prime opportunities currently available at Emerald Hills. One similar plot is listed for AED35 million, with the estimated construction cost for a comparable luxury villa bringing the total…

Ellington Properties, a leading Dubai-based boutique developer, has appointed Aroma International Building Contracting as the main contractor for The Sanctuary, its first villa community located in the heart of Mohammed Bin Rashid City (MBR City). Scheduled for completion in Q2 2026, The Sanctuary is a masterfully designed gated community that blends serene surroundings with innovative living spaces and exceptional amenities. The Sanctuary offers residents an immersive connection to nature, with uninterrupted views of a crystal lagoon, lush parklands, and Dubai’s iconic skyline. Each villa has been thoughtfully designed to provide a seamless blend of form and function, featuring spacious layouts, abundant natural light, and carefully crafted details that elevate everyday…

Foster + Partners, a global studio for architecture, engineering, urban and landscape design based in London. has revealed designs for Regent Residences Dubai, Sankari Place, which comprises two striking residential towers (each 180m tall) in Dubai’s Marasi Marina, Business Bay. Inspired by cascading water, the adjacent towers make a unique contribution to the city’s skyline and waterfront, with sixty interlocking apartments and staggered terraces, said the British design group. The project is a collaboration between Sankari and IHG Hotels & Resorts. Gerard Evenden, Head of Studio, Foster + Partners, said: "Regent Residences Dubai, Sankari Place’s dynamic twisting form and articulated façade will make it a distinctive new addition to Business Bay and the…