May 2017 — Topical news of the United Arab Emirates

May 5, 2017 no comments 910
Heavy losses in recent fires have increased the cost of insuring high-rise properties in the United Arab Emirates (UAE) at least four-fold, with some policies beginning to take into account loss of business, a UAE-based insurance lawyer said on Thursday. Michael Kortbawi, Partner at...

May 4, 2017 no comments 1045
The launch comes as Oppo continues to gain smartphone market share globally Chinese smartphone manufacturer Oppo has launched its latest device the F3 in the Gulf region under an aggressive pricing strategy. The aluminium handset, which is being marketed for its wide-angle group...

May 4, 2017 no comments 964
A total of 20.246m³ of cement was poured in 62 hours for a new mall construction Sharjah: A crew of Sharjah Municipality and construction workers working on a new mall in Muweilah set a new world record for the largest continuous concrete pouring. The concrete pouring took 62 hours....

May 4, 2017 no comments 939
Damac Properties, a leading luxury real estate developer in the region, has launched Evo Townhomes, a range of two-bedroom homes that appeal to couples and young professionals who are in search of a revolutionary living concept. Combining both space and practicality, Evo Townhomes provide...

May 4, 2017 no comments 1063
Plans for boxing and fitness centres are currently underway in Bahrain, Morocco, the UAE, India and Switzerland American heavyweight legend Mike Tyson on Thursday unveiled plans to launch a boxing fitness franchise named after him. The Mike Tyson Academy will open branches in the Middle...

May 4, 2017 no comments 921
Damac Properties Chairman Hussain Sajwani on Thursday rang the market opening bell to celebrate the listing of a $500-million sukuk (Islamic bond), issued by its subsidiary Damac Real Estate Development Limited (DRED), on Nasdaq Dubai. The listing on the region’s international exchange supports...

May 4, 2017 no comments 818
Arabtec Holding, a leading contractor for social and economic infrastructure, has reported its first quarterly bottom line profit in the last three years. The group is undergoing a series of restructuring measures including the appointment of a strengthened executive management team, in line...

May 4, 2017 no comments 967
Dubai Group, an investment firm owned by the emirate's ruler, has requested creditors to take a haircut on debt maturing in 2024 in exchange for an early settlement, banking sources said. The firm completed a restructuring on around $6 billion of debt in 2014, with lenders agreeing to...

May 4, 2017 no comments 933
A Florence-based architecture firm has secured a new patent within the Gulf Cooperation Council (GCC) for its rotating skyscraper project, the building’s architect said on Wednesday. Italian-Israeli architect David Fisher, founder of Dynamic Architecture Group, said the design of the...

May 3, 2017 no comments 975
Investors can always get something out of the Palm — in fact those who held a property there for 10 years could see price growth of a princely 238 per cent. And a high-end apartment in Dubai Marina would see them better off by 61 per cent over a decade, according to number crunching done by the...

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