Tag Archives: Damac

Don’t Call Me!

It seems that Dubai will see its first rainforest, as plans are afoot by Damac Properties to incorporate one in its latest development – Akoya Oxygen, encompassing 55 million sq ft. The developer will try and replicate the eco-system in … Continue reading

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I Won’t Back Down

HH Sheikh Mohammed bin Rashid Al Maktoum announced plans to transform the Dubai Creek area, with the aim to raise public awareness of Dubai’s tradition, history and culture. Covering an area of 1.5 sq km, the renovation work will concentrate … Continue reading

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Out Of The Woods

The double whammy of international sanctions and the dramatic fall in the oil price has not only impacted the Russian economy but has had a drag effect here in Dubai. The 40%+ drop of the rouble has seen a reported … Continue reading

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If I Were A Rich Man

HH Sheikh Mohammed bin Rashid Al Maktoum announced a seven-year plan to make the UAE one of the leading innovative countries in the world. His National Innovation Strategy will focus on seven main areas – education, health, renewable energy, space, … Continue reading

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Foxy Lady

There is no doubt that the aviation sector is feeling the pinch from current geo-political, health and climatic issues. With conflict areas – such as eastern Ukraine and northern Iraq – becoming no-fly zones, airlines have had to take expensive … Continue reading

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Just Can’t Get Enough

Damac reported a healthy 39% boost in H1 profits to US$ 463 million as revenue jumped 59% to US$ 991 million, with Q2 returns of US$ 253 million and US$ 556 million respectively – both up on Q1’s US$ 210 … Continue reading

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Good Riddance (Time of Your Life)

Dubai Land Department reported that H1 real estate transactions totalled US$ 30.8 billion, of which US$ 14.2 billion occurred in Q2 indicating a slowdown compared to the previous quarter. The 6.9k mortgage deals, totalling US$ 12.9 billion, accounted for nearly … Continue reading

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Down, Down (Deeper and Down)

Following his May US$ 2.2 billion endorsement for Dubai Holding’s Jumeirah Group’s expansion plans, HH Sheikh Mohammed bin Rashid has approved the addition of a further 350 rooms for the 15-year old Jumeirah Beach Hotel. The complex, due to open … Continue reading

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Flying High Again

Emirates’ annual revenue grew by 13.0% to US$ 22.5 billion, as the airline saw its profits jump 42.5% to US$ 887 million, forming a large part of the Group’s overall profit of US$ 1.1 billion. With a 13.0% increase in … Continue reading

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Catch Us If You Can

Following its September 2013 off plan sale, when 262 townhouses were sold in a day, Nakheel has finally awarded Ginco General Contracting a US$ 191 million contract for the construction of 936 units in its Warsan Village development. The project … Continue reading

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