Property News: Henry Wiltshire

Aldar Properties, the Abu Dhabi real estate developer, posted a 2 per cent revenue rise for full-year 2018, attributed to higher returns from revenue raising assets and new acquisitions.

Net profit attributable to equity holders slipped 5 per cent year-on-year to Dh1.8 billion in 2018, while revenues rose to Dh6.3bn, boosted by Dh2.6bn of development sales, the company said in a filing to Abu Dhabi stock exchange, where its shares are traded, on Wednesday.

The net profit decline was partly due to … Read more ›

Brent is expected to average $75 per barrel for 2019, trending at a bullish monthly average of $77 per barrel for the second half of the year, according to Fitch Solutions.

A tightening of supply and the assumption of a high level of compliance by the Opec+ alliance in the first half of the year, are some of the factors supporting the ratings agency’s fundamentally bullish outlook for the oil markets.

“Saudi Arabia is shouldering the bulk of the cut and, as … Read more ›

The boards of Abu Dhabi Commercial Bank and Union National Bank have agreed to a merger to create an entity that will take over Al Hilal Bank and become the third largest lender in the UAE.

The merged entity will have an asset base of Dh420 billion, the lenders said in a joint statement on Tuesday to the Abu Dhabi bourse, where ADCB and UNB shares are traded.

Sheikh Mohamed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the … Read more ›

Since we launched 12 years ago, we have sought to promote best practices in the real estate industry in order to help consumers find the right property from the most relevant and leading real estate professionals. We’ve achieved this by introducing industry-leading initiatives, such as Verified Listings, Agent specific searches, and a Quality Control department that monitors agent conduct, among other practices.

Last week, we honoured the real estate elite at our fifth annual Property Finder Real Estate Awards ceremony and gala dinner, … Read more ›

With the introduction of several new reforms and the recently announced retirement law, the expat population now increasingly looks at the UAE as an attractive destination to work, live and retire. Realtor Rakesh Mirchandani had initially thought of staying in Dubai for a couple of years when he first arrived in 2005. Living here for 13 years now, he believes Dubai is not only an excellent place for long-term stay, but also considers it as a destination for retirement.
“Dubai offers … Read more ›

Construction work on the first hyperloop transport system will begin next summer in Abu Dhabi, the company behind the project said on Wednesday.

Hyperloop Transportation Technologies said it would build a commercial line on the border of Abu Dhabi and Dubai at developer Aldar’s Seih Al Sderieh landbank, close to the Expo 2020 site and Al Maktoum International Airport.

The company has yet to outline the exact route and the location of the terminals, but the line would be close to a major new … Read more ›