2018 — Topical news of the United Arab Emirates

September 25, 2018 no comments 36
Mirwais Azizi says he is concerned about oversupply Offplan sales in Dubai are strong and oversupply is not a long-term issue, according to Azizi Developments founder and chairman Mirwais Azizi. In an exclusive interview with Arabian Business Azizi said: “Believe me the market...

September 25, 2018 no comments 40
Emirates airline said Mexican authorities' decision to only allow three flights a week makes the route not commercially viable Emirates has withdrawn its application to operate flights from Dubai to Mexico through an intermediate stop in Spain, an airline spokesperson confirmed to...

September 25, 2018 no comments 36
Emirates earned $117m from excess baggage fees in the 12 months until March 2018 Charging for services including checked baggage and meals onboard adds more than half a billion dollar in revenues from three out of four airlines in the UAE, results from a recent report show....

September 25, 2018 no comments 45
The company will use the loan proceeds to refinance part of its existing debt. DUBAI- Emirates Steel, the largest steel producer in the United Arab Emirates, has hired BNP Paribas to coordinate a $400 million loan financing, sources familiar with the matter said. The company,...

September 25, 2018 no comments 42
UAE property market has been suffering from a flood of new supply DUBAI/ABU DHABI- The United Arab Emirates' banking group is considering whether to ask the central bank to relax mortgage lending rules to stimulate a fragile real estate market, sources familiar with the matter said....

September 25, 2018 no comments 38
DP World hits intra-day low because of U.S.-China row DUBAI- Gulf stocks traded in negative territory on Monday, mirroring a dip in global market as concerns increased over a trade row between the United States and China. In Dubai, where the index shed 0.3 percent, contractor...

September 24, 2018 no comments 50
A Union Properties and Deyaar merger was all but certain in 2009, when the fallout from the financial crisis led to the deal being scuppered Union Properties has issued a statement denying any plans to merge with another developer in Dubai. In a statement today, Union Properties...

September 24, 2018 no comments 58
Real estate subsidiary of Emaar Properties names Bader Saeed Hareb new CEO less than 12 months after appointing last one Emaar Development has appointed Bader Saeed Hareb its new chief executive officer, the company has disclosed in a filing with the Dubai Financial Market. Hareb...

September 24, 2018 no comments 49
Azizi Developments seemed to emerge from nowhere when it launched a raft of projects across Dubai in 2013. But now, for the first time, its founder and chairman is ready to tell the backstory of his journey from war-torn Kabul to a real estate empire in Dubai, where he's now one of the city's...

September 24, 2018 no comments 56
Global companies such as Amazon pose 'threat' to UAE market, said Mohamed Alabbar, founder of Noon.com and chairman of Emaar Properties Mohamed Alabbar, the chairman of Emaar Properties and founder of e-retailer Noon.com, has called for new legislation that imposes 51% local ownership...