Property News: Developments
04 November 2021
Abu Dhabi’s leading developer, Aldar Properties, records a staggering 11% jump in its third quarter profit, with the boost coming from record developmental sales and strong economic recovery.
Following the report, Aldar announced it is “actively” seeking further acquisition opportunities in the country.
In a statement made by Aldar through the Abu Dhabi Securities Exchange where its shares are traded, the net profit attributable to the owners by the end of September rose to AED 473 million and provisions, impairments and writedowns … Read more ›
30 September 2021
Nestled on the thriving cultural district of Saadiyat Island, The Guggenheim Abu Dhabi is set to finish by 2025, according to the Department of Culture and Tourism.
The contemporary and renowned museum was designed by architect Frank Gehry, who is also behind the Guggenheim Museum in Bilbao, Spain. The UAE site is said to be the latest and largest installment on the Solomon R Guggenheim Foundation’s list of international museums. DCT Abu Dhabi and Solomon R. Guggenheim Foundation have collaborated to … Read more ›
27 September 2021
First Abu Dhabi Bank (FAB), the UAE’s largest bank, collaborated with the Abu Dhabi Residents Office (ADRO) to offer exclusive and competitive mortgage rates and deposit products for Golden Visa holders in Abu Dhabi.
Under the scheme, eligible visa holders will have access to five-year fixed mortgage rates from 2.49% per year with a fee waiver and up to 1.68% iSave deposit rates per year.
“By providing recipients of the UAE Golden Visa exclusive benefits for mortgages and deposit products, FAB is … Read more ›
26 September 2021
The Central Bank recently released its Quarterly Economic Review for the second quarter of 2021.
The report states a 2.1% growth this year and a projected 4.2% increase next year, following the UAE’s actual production, Opec+ announcements and the pending output schedule from January 2021 to July 2021. The previous prediction of 3.8% climb in 2022 was revised by CBUAE as a result of increased public purchasing, banks’ credit outlook, higher employment and better business sentiment.
“The improvement reflects the better sentiment … Read more ›
13 September 2021
Abu Dhabi – As the country awaits the celebration of its Golden Jubilee, the government has announced a series of projects and initiatives to transform the UAE’s economic, political and social status over the next 50 years.
The first set of projects was declared on 5th September with new schemes on visas, campaigns to attract foreign investment and strategies to support local companies tackled. The aim is to ensure a sustainable future for all of its residents. This recent announcement was … Read more ›
26 July 2021
Abu Dhabi – Yas Creative Hub, the first industry-specific hub in GCC for media, entertainment, and gaming, is set to house Twofour54 Abu Dhabi, the capital’s media free zone, by Q4 this year.
Media and gaming giants CNN, Ubisoft and Unity Technologies have already confirmed to join, and more than 600 companies are expected to follow suit.
The megaproject spreads over 2.9 million sq.ft. (270,000 sq.m) and 16,000 + professionals will relocate to the new campus by 2031, three times as many … Read more ›