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Local developers can seek the hospitality option
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Local developers can seek the hospitality option

Developers in Dubai may get another chance to clear part of their inventory. The Indian hospitality brand, Oyo, considering possibilities to launch its “Town house” concept in the emirate.What this does is take up mid-tier properties on longer leases and…

Bahrain’s GFH gets Central Bank approval for $1BN property sale
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Bahrain’s GFH gets Central Bank approval for $1BN property sale

GFH Financial Group, the Bahraini Sharia-compliant investment company, said it got "conditional approval" from the central bank on an offer to sell its real estate portfolio.The Manama-based company has received a $1 billion (Dh3.67bn) offer to sell its property portfolio,…

Drake & Scull shares jump after shareholders approve continuing operations
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Drake & Scull shares jump after shareholders approve continuing operations

Drake & Scull International's shares jumped after the Dubai contractor said a majority of shareholders voted for continuing the company's operations during a general assembly last week.The board informed shareholders about the company's future plans and the developments in the…

Industry Watchdog urges new standards on valuing UAE real estate to boost investment
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Industry Watchdog urges new standards on valuing UAE real estate to boost investment

Just over 18,900 rental disputes were registered in Dubai during the year, which is 5 per cent of the total rental contracts registered through the Ejari system. The number of cases and applications registered reached 11,765, with 7,809 cases resolved.“The…

Dubai records DH162BN of real estate deals this year
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Dubai records DH162BN of real estate deals this year

A total of Dh162 billion ($44bn) worth of real estate transactions were signed in the first nine months of 2018, with GCC and Indian investors accounting for the bulk of the deals, the government’s Dubai Land Department said.“As we approach…

A fifth of UAE tenants are paying more for the same home
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A fifth of UAE tenants are paying more for the same home

More than one in five UAE residents paid more rent for the same property in 2018 than they did last year, despite sliding rental rates, according to a report from the price comparison site yallacompare released on Monday.The company found…

Bahrain approves rules allowing foreign firms to set up independent subsidiaries
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Bahrain approves rules allowing foreign firms to set up independent subsidiaries

Bahrain has approved regulation allowing foreign companies to establish independent subsidiaries in the kingdom and do business without a local partner, a move aimed at spurring economic growth.Bahrain’s Cabinet, chaired by Prime Minister Khalifa bin Salman Al Khalifa, formally endorsed…

Egypt’s non-oil private sector expands for second consecutive month in august
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Egypt’s non-oil private sector expands for second consecutive month in august

Egypt’s non-oil private sector economy strengthened further in August, as new export orders and output continued to grow while the job market expanded at a record rate, according to a new companies’ survey. The Emirates NBD Egypt Purchasing Managers’ Index…

Contractor hired to build $810M car-free Sharjah real estate project
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Contractor hired to build $810M car-free Sharjah real estate project

Sharjah-based developer Alef Group has appointed Al Hamad Building Contracting Company as the main contractor for its flagship Al Mamsha project, Sharjah’s first fully walkable community.Alef said the AED3 billion ($810 million) project is a landmark mixed-use development in Sharjah…

Economic zones are vital to courting investors and adding value to the economy
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Economic zones are vital to courting investors and adding value to the economy

Special Economic Zones are a powerful development strategy to lure foreign direct investments but their success depends on the host economy’s position in the global context, a new study has found.SEZs have multiplied over the years to around 4,300 in…

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