DUBAI: Around 3,850 lands, buildings, and unit deals were closed in Abu Dhabi during the first quarter of the year – amounting to 11.5 million dirhams ($3.13 billion).
It included real estate transactions that reached 5 billion dirhams, and mortgages exceeding 6.5 billion dirhams, according to data from the Department of Municipalities and Transport.
The highest sales value was from the city’s Al Reem Island at 1.6 billion dirhams, followed by Abu Dhabi Island (907 million dirhams) and Yas Island (446 million dirhams). Saadiyat Island, Khalifa City, and Al Raha Beach also raked in significant transaction volumes.
Land sales were 66 percent of the total transactions, the government agency said.
DUBAI: We’re in the final stretch of Ramadan and if you’re running out of style ideas for all of the iftar and suhoor gatherings yet to come, not to mention the Eid Al-Fitr celebrations, let Dubai-based Iraqi fashionista Deema Al-Asadi inspire you. The 33-year-old recently collaborated with international retailer Shopbop, which is owned by Amazon, to curate an exclusive edit
Strengthening the national grid and scaling up its stability is a focal priority for us as demand for power in Iraq increases due to a growing population and to support industries and development projects in the country,” said Khalid Attia, director general, Electricity Transmission Company for Northern Region in Iraq.
The project is funded by Germany s state-owned development bank KfW.
Rebuilding Iraq s power infrastructure, damaged by decades of war, is high on the government’s list of priorities. A crippled utility network has been a key factor behind protests across provinces during summer months, when temperatures can easily soar to 50°C and above.
RIYADH: Business activity across Saudi Arabia’s non-oil private sector rose at the sharpest rate in three months, the latest IHS Markit latest Purchasing Managers’ Index (PMI) survey showed.
Firms also expanded staff numbers for the first time in five months and to the greatest extent since November 2019.
The headline seasonally adjusted index rose to a three-month high of 55.2 in April, up from 53.3 in March, to indicate a marked improvement in business conditions in the non-oil private sector economy.
“The Saudi Arabia PMI rebounded in April to indicate a strengthening of growth across the non-oil economy. New orders picked up at the quickest rate for three months as business conditions continued to recover from COVID-19,” said IHS Markit Economist David Owen. “Despite a boost to demand, the business outlook weakened from March as fewer respondents projected that output would grow in the coming 12 months. Current concerns among businesses included a possible further wa
Hedge funds boosted their position in petroleum for the third week running, confirming increasing confidence over rising prices for the rest of the year.