Bahrain Real Estate Investment Company (Edamah), the real estate arm of Mumtalakat, the kingdom’s sovereign wealth fund, has signed a partnership agreement with Minor Hotels, an international hotel owner, operator, and investor, to develop two upscale hotels at Bilaj Aljazayer.
Performance across Saudi Arabia’s various real estate market asset classes remains mixed, however the residential market continues to outperform, according to global property consultants Knight Frank.
Vincitore Realty, a UAE-based boutique developer specialising in designer and affordable branded residences, has announced that work is moving at a steady pace on The Vincitore Benessere, its AED375-million ($101 million) wellness property in Dubai.
Azizi Developments, a leading private developer in the UAE, has announced that Creek Views I, an exceptionally well-connected residential development in Dubai Healthcare City (DHCC), is now over 72 per cent complete.
Diyar Al Muharraq, a major developer in Bahrain, has announced that 30 per cent of the work has been completed on the first phase of its 328,000-sq-m Al Naseem project.
Aldar Properties has announced the sell-out of land plots within the second phase of Al Gurm, the luxurious and secluded beachfront community on the south-west side of Abu Dhabi’s main island.
The Red Sea Development Company (TRSDC), the developer behind the world’s most ambitious regenerative tourism project, says it has partnered with The King Abdulaziz City for Science and Technology (KACST) to provide high resolution satellite data of key locations at the project site.
Bloom Holding has announced the completion of its premium development, Bloom Heights, at Jumeirah Village Circle (JVC) in Dubai.
Kuwait’s real estate sales surge to $1.3bn in June Kuwait’s real sector witnessed increasing activity in June when compared to May recording a total of 1,271 transactions worth KD392 million ($1.3 billion) with the Al Ahmadi Governorate garnering the lion’s share of deals. The value of private housing trading activity too rose 7.
