Eshraq Investments swung to a consolidated loss in 2023, recording a net loss of AED 545.10 million, versus a net profit of AED 589.79 million a year earlier. Revenues from commercial operations recorded AED 31.61 million last year, down from AED 41.01 million in 2022, according to a press release. The basic and diluted loss per share reached AED 0.20 in the

The Real Estate Dispute Settlement Center, part of the  Abu Dhabi Real Estate Center (ADREC) under the  Department of Municipalities and Transport (DMT), has achieved a remarkable milestone in resolving real estate disputes throughout 2023. The center resolved 3,876 out of 4,079 disputes recorded in 2023, achieving a high completion rate of 95%. This accomplishment was reached after real estate mediators conducted 10,376

In the week leading up to Earth Hour, Marriott Hotel and Marriott Executive Apartments, Al Jaddaf, and Marriott Executive Apartments, Dubai Creek announce significant strides in their sustainability initiatives since the close of last year. These efforts underscore the properties' commitment to the hotel groups’ wider mission to create a positive and sustainable impact in the markets in that it operates. At Marriott

The Abu Dhabi Real Estate Centre (ADREC) – the custodian and regulator of Abu Dhabi’s world-class real estate sector – has signed a Memorandum of Understanding (MoU) with two leading real estate portals, Bayut and Dubizzle and Property Finder, to enhance transparency, efficiency, and decision-making in Abu Dhabi's real estate sector. Rashed Al Omaira, ADREC Acting Director General, said, “We are

The UAE’s removal from the Financial Action Task Force grey list is an important milestone and its overarching impact would soon be felt across all economic sectors, including real estate, say property consultants, and realty experts. They argue that the long-awaited decision is going to allow for the free flow of capital into the country, especially from high net worth individuals

Alpha Dhabi Holding PJSC (Alpha Dhabi), one of the fastest-growing investment holding companies in the MENA region, and National Corporation for Tourism and Hotels (NCTH), the owner and manager of some of Abu Dhabi’s best-known hotels, have completed a strategic transaction which unites 3 of Alpha Dhabi’s hotel businesses within the NCTH portfolio. Alpha Dhabi has a 36.4% shareholding intoe NCTH,

Global Rail will bring to Abu Dhabi more than 15,000 senior decision-makers, thought leaders, 1,000 delegates and over 300 exhibiting companies from more than 40 countries from October 8 to 10. Under the patronage of Sheikh Mansour bin Zayed Al Nahyan, UAE Vice President, Deputy Prime Minister, and Minister of the Presidential Court, the Global Rail Transport Infrastructure Exhibition and Conference

Abu Dhabi–based Etihad Airways has reported a 46% year-on-year (YoY) growth in traveller numbers for the month of February, during which it flew more than 1.4 million passengers. Etihad stated that the passenger load factor for the month averaged at 89%. “Our year-to-date (YTD) passenger figures at 2.9 million are 40% higher than at YTD February 2023,” Antonoaldo Neves, CEO of Etihad Airways

Abu Dhabi’s leading artificial intelligence firm G42 is partnering with Kenya’s EcoCloud to develop a mega data centre powered by geothermal energy. Located in Kenya's geothermal-rich region, the EcoCloud-G42 mega data centre will have an initial capacity of 100 megawatts, with the potential to build up to 1 gigawatts, the Abu Dhabi Media Office said in a statement on Friday. The agreement

Majid Al Futtaim (“the Group”), the leading shopping malls, communities, retail, and leisure pioneer across the Middle East, Africa, and Central Asia, today announced its operational and financial results for the full year 2023. The company demonstrated a resilient financial performance, reflecting its strategic approach to its diverse portfolio of businesses and the strength of its core operations. At year-end 2023,