‏سبتمبر 2019 الصورة

Indian investors who live in Dubai have purchased properties worth AED 94.45 billion ($25.71 billion) within the emirate during the past six years, Al Khaleej newspaper reported, citing data by the Dubai Land Department (DLD).

Indian residents in the emirate represent the largest stake of foreign investors in Dubai’s real estate sector, according to official data.

In the same vein, the Dubai-based Danube Properties recently announced it has opened a sales and marketing office in Kochi, India.

It is worth noting that last week the Vice President and Prime Minister of the UAE and Ruler of Dubai Mohammed Bin Rashid Al Maktoum stated that a Higher Real Estate Planning Committee was formed in Dubai to achieve balance between supply and demand in the real estate sector within the emirate.

The Real Estate Planning Committee was established under the chairmanship of the Deputy Ruler of Dubai and membership of senior real estate developers Maktoum Mohammed Bin Rashid Al Maktoum.

Dubai – Mubasher: Emaar Properties, a leading global property developer, has raised $500 million from the sale of the 10-year US dollar-denominated sukuk, according to a document issued by one of the banks managing the deal.

The sukuk issuance has received orders of around $2.5 billion, including $300 million of interest from the banks arranging the deal, Reuters reported, citing the document.

The transaction is part of a $2 billion debt programme which offers investors between 250 and 255 basis points over mid-swaps.

Earlier this month, Emaar announced it had appointed Standard Chartered Bank as sole global coordinator of the 10-year sukuk issue and Dubai Islamic Banks as Shariah advisor.

UAE - Mubasher: Sharjah Holding, a strategic partnership between Majid Al Futtaim Properties and Sharjah Asset Management, announced it has launched Orchid, its latest neighbourhood.

The new project features a limited number of exclusive residential plots that range from 5,000 square feet to 12,000 square feet, with ready infrastructure at Sharjah’s premier lifestyle destination, according to a press release.

Residents of Orchid will have access to Al Zahia’s Central Park, mosque, and clubhouse, and infrastructure-enabled land will be ready in 2021.

Orchid will enable buyers for the first time to design and build bespoke luxury mansions and villas at Al Zahia, the release noted.

The neighbourhood will be officially launched on Saturday, 14 September at Al Zahia Sales & Experience Centre.

Buyers can enjoy a number of flexible payment plans with a down payment of 5%, the release highlighted.

Shadi Al Azzeh, Al Zahia Project Head at Majid Al Futtaim Properties, said: “We are constantly striving to meet our customers’ needs, and the launch of Orchid’s premium plots reflects Al Zahia’s maturity and appeal and the strong growing demand from distinctive customers who aspire to create unique homes for their families at Sharjah’s premier lifestyle destination.”

Waleed Al Sayegh, Chairman of Sharjah Holding, said: “Widely recognised as a centre for culture, heritage and education, Sharjah is also a hub for investment. The appeal of the emirate’s advanced infrastructure, legislation, economic stability and geographic location was reflected in real estate transactions valued at more than AED 14 billion in the first half of 2019.”

Al Zahia, located in the heart of New Sharjah, will be embracing over 12,000 residents in villas, townhouses, and apartments upon completion in 2023.

ENBD Reit (CEIC) Plc, the Shari’a compliant real estate investment trust managed by Emirates NBD Asset Management Limited, on Wednesday announced the completion of its share buy-back programme.

The programme was implemented through the UAE-based broker Shuaa Securities LLC via the order book of Nasdaq Dubai, ENBD Reit said in a statement to Nasdaq Dubai.

Up to $3.5 million were raised for the programme to facilitate the acquisition of nearly 4.401 million shares.

The share buy-back programme, which was effective from 21 February 2019 until 30 September 2019, was executed at an earlier date on 9 September 2019.

The programme comes as part of ENBD Reit's strategy to realise value for shareholders holding equity.

Anthony Taylor, Head of Real Estate at Emirates NBD Asset Management, said: “The rationale for implementing the buy-back was to realise value for shareholders by repurchasing shares that were trading at a significant discount to the market valuations of our underlying assets.”

“Other benefits of the programme included improved liquidity for our stock and preventing disproportionate movements in the share price, which had been caused by small trades prior to the programme commencing. The buy-back did not result in an improved share price, which continues to be affected by soft real estate and equity market conditions, but we are pleased with its overall outcome and may look to continue it in the future,” he added.

ENBD REIT’s ability to pay dividends and acquire further assets were not affected by the programme.

By: Abdullah Bedeir

Cairo – Mubasher: Egyptian Ministry of Housing’s New Urban Communities Authority (NUCA) signed a memorandum of understanding (MoU) with BESIX Group and Orascom Construction Plc to establish a waste-to-fuel plant in west Cairo.

The fuel to be produced by the public private partnership (PPP) project will be used to power cement plants, Egypt’s minister of housing Assem El-Gazzar said in a statement.

NUCA will provide the plant with the required feedstock which amounts to 2,000 tonnes of solid waste per day during the 15-year concession period starting from the date of commercial operation.

Moreover, NUCA will also contribute 10% to the project’s costs by providing the required land.

In July, FAS Energy, a subsidiary to Saudi Arabia’s Fawaz Abdulaziz Alhokair Co, signed an MoU with NUCA to develop a waste-to-energy project to serve new cities in east Cairo. 

UAE - Mubasher: Azizi Developments, a leading private developer in the UAE, announced the launch of new units at its Creek Views project in Dubai Healthcare City.

The official launch is set to take place next Saturday, 14 September 2019, at the FIVE Palm Jumeirah Hotel, according to a press release.

Construction work at Creek View’s 100% freehold residences is 24% complete, Azizi Developments noted.

Creek View’s 100% freehold residences are in perfect alignment with the rising demand for residential projects in Dubai Healthcare City Phase 2, which is rapidly coming to life., with 24% of its construction already having been completed.

Situated on the iconic Dubai Creek in Dubai Healthcare City, the 20-storey development features 634 residences, comprising 396 studios, 218 one- and 20 two-bedroom units, a 33,341-square-feet of premium retail space.

Farhad Azizi, CEO of Azizi Developments, said: “This exceptional development is one of the very few freehold residential projects in the second phase of Dubai Healthcare City, and perfectly caters to the high demand for quality homes in this blossoming area. Creek Views embodies the rapid progression and forward-looking spirit of the great city of Dubai.”

Prices start at AED 522,000 for studios, while the prices of one- and two-bedroom units start at AED 848,000 and AED 1,756,000 respectively.

Azizi Developments offers buyers an attractive payment plan for Creek Views, upon which they can pay only 1% on booking, followed by 13% 14 days after booking, 10% 45 days after booking, 2.5% every following month, and the remaining 50% upon completion.

Residents of Creek Views will enjoy a luxurious lifestyle with amenities including an all-inclusive health club, comprising a swimming pool, a fully-equipped gym, a sauna, a steam room, and a serene outdoor yoga space.