NewsAbu Dhabi
More confidence in Abu Dhabi real estate than in Dubai
Sorouh and Aldar, two of the major real estate developers in Abu Dhabi, have released their year-end financial reports for 2008. Both reports show net profit increases, even though both companies took a downturn in the last quarter of 2008. Aldar also took a hit when they announced they would stop working...
Sorouh puts future developments on hold
Abu Dhabi’s second largest property developer is delaying new projects until current developments are complete because of the economic downturn. According to Property Wire, it is a sign that the general decline in the real estate sector that has hit the emirate’s neighbouring Dubai is clearly...
Aldar to open 7 hotels on Yas Island
The Abu Dhabi Tourism Authority said yesterday that Aldar Properties will commission seven hotels on the Yas Island by November. “The hotels – four 5 star properties, one 4 star and two 3 star – together will boost Abu Dhabi’s accommodation inventory by 2,298 rooms and its food...
Aldar’s projects on track
Abu Dhabi’s biggest real estate developer Aldar Properties has not slowed down or put on hold any of its projects due to the global financial crisis and has no plans to lay off staff to cut costs, a senior Aldar executive told Gulf News. “Everybody is affected by the financial tsunami, nobody...
Work on Dh20bn Al Ghadeer starts
Abu Dhabi-based real estate developer Sorouh Real Estate has started infrastructure works of the Dh20 billion-Al Ghadeer development, said a senior official. The project is located on the Dubai-Abu Dhabi border. “The company does not have any problem with regard to liquidity at present. It collected...
Yas Mall to be showcased at MAPIC
Aldar Properties, Abu Dhabi’s leading property development, investment and management company today unveiled plans to build a signature Super Regional Mall as part of Abu Dhabi’s premier retail and leisure destination at Yas Island. Leading retailers, property developers and investors attending MAPIC,...
Eco Towers launched
Connection Real Estate, an Abu Dhabi-based property development company, yesterday launched a Dh1 billion mix-use environmentally-friendly project in the capital – Eco Towers – comprising luxury apartments and commercial property. Chairman of the board of directors of Connection Real Estate,...
Developers see challenges ahead
Despite tight credit weighing down on prices of property purchased in the secondary market, developers say a combination of continued strong demand and limited supply will sustain prices in the long term. Prices have dipped in the past few days after dramatic growth in the first half of the year as property...
Mayadeen unveils Dh1.6b project in Abu Dhabi
National Ranges Company (Mayadeen), a Kuwaiti shareholding property development firm, has launched Aurora, its Dh1.6 billion landmark project in Abu Dhabi. Located in Shams on Al Reem Island, the project includes the construction of two residential towers, which will be 53 stories each and stand 208...
Capital Gate, most inclined tower in the world?
As construction of Capital Gate continues in the UAE capital city, Abu Dhabi National Exhibitions Company (Adnec), which is developing the iconic building, and RMJM, project architects, have submitted a joint application to the Guinness Book of Records to recognise the tower as the “most inclined...
