An overview of the real estate market in Dubai 2nd Quarter 2022 Report of total sales in the real estate market in Dubai from the 2nd quarter 2022 0 Total real estate sale transactions 0 Plots 0 commercial 0 villas 0 Apartments 59.3B AED Total sales value AED 11.2B AED 1.3B AED 17.8B AED 29B […]
An overview of the real estate market in Dubai First Quarter 2022 Report of total sales in the real estate market in Dubai from the first quarter 2022 0 Total real estate sale transactions 0 Plots 0 commercial 0 villas 0 Apartments 55.7B AED Total sales value AED 18.8B AED 1.1B AED 11.9B AED 23.8B […]
Dubai – Mubasher: Emaar Development on Thursday announced a significant increase in its net profit at AED 2.070 billion ($564 million) and revenue of AED 9.625 billion ($2.62 billion) over the period from January to September in 2019.
Sales backlog stood at AED 36.098 billion ($9.828 billion) in the same period in 2019, underlining remarkable revenue recognition to be achieved in the coming three to four years, a press release said.
During the July-September period in 2019, the net profit advanced to AED 688 million ($187 million), with revenues recording AED 3.388 billion ($922 million) meanwhile.
As for the first six months of 2019, the real estate company realised a net profit of AED 1.382 billion ($376 million).
Abu Dhabi – Mubasher: RAK Properties reported a profit of AED 17.08 million during the third quarter of 2019, versus losses worth AED 22.828 million in the same quarter last year.
Meanwhile, during the first nine months of 2019, the company achieved a leap of 437% in net profit when compared to the corresponding period a year ago.
Net earnings totalled AED 32.92 million from January to September 19, compared to AED 6.13 million in the same period in 2018.
Meanwhile, revenues soared by 70% to AED 134.49 million in the period ended on 30 September 2019 from AED 79.17 million in the same period last year, according to a filing to the Abu Dhabi Securities Exchange (ADX).
From end-December 2018 to end-September 2019, the real estate developer’s total assets reached AED 5.52 billion by the end of the period.
RAK Properties further added that its total equity and liabilities registered AED 5.52 billion by the end of September 2019 when compared to AED 5.34 billion on 31 December 2019.
Total sales backlog amounted to AED 122 million to be recognised in the next two to three years based on construction percentage
It is worth noting that during the first six months of 2019, the company registered a decrease in profits to AED 15.83 million from AED 28.95 million in H1-18.
Dubai – Mubasher: Damac Properties Dubai Company has successfully acquired two plots in Al Sofouh and Business Bay areas from Dico Properties Company and Soor Foodstuff Company.
The transaction’s total cost valued at AED 285 million, according to Damac’s statement to the Dubai Financial Market (DFM) on Wednesday.
The Dubai-based company noted that the acquisition comes along with its approach to acquire prime plots in distinctive areas in order to expand its land bank for new innovative developments in future to increase its revenues for the benefit of its shareholders.
Dubai – Mubasher: Damac Properties, a Dubai-based property development company, on Monday announced the launch of an exclusive offer on ready-built luxury residences in DAMAC Hills, the 42 million-square-foot golf community.
As part of the limited time offer, customers can buy high-end townhouses and apartments in the Loreto cluster at a price starting from AED 600,000 with 5% initial payment, according to a press release.
Moreover, buyers can enjoy a four-year post-completion payment plan and 50% waiver of Dubai Land Department (DLD) fees, Damac noted.
The exclusive offer will be available for both agents and direct buyers at the DAMAC Hills Sales Centre from 24 to 28 September 2019.
Niall McLoughlin, Senior Vice President of Damac Properties, said, “DAMAC Hills offers excellent amenities, a great on-site community management team and is home to a vibrant resident community of over 5,600 people. This is an unbeatable offer, and we hope that investors in the market make the best of it.”
It is worth noting that the Loreto cluster features a number of amenities including Trump-branded and -managed clubhouse with restaurants, a swimming pool and gymnasium, a skate park, supermarkets, laundry services, ATMs, a tennis academy, basketball courts, a horse riding academy, and a petting zoo.