DUBAI | ABU DHABI | AL AIN | SHARJAH | JORDAN

© Asteco Property Management, 2017 asteco.com | asteco.com/report_library IN THE MIDDLE EAST FOR OVER 30 YEARS

ASSET MANAGEMENT SALES LEASING

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RESEARCH DEPARTMENT

NEWS BRIEF 17 MONDAY, 24 APRIL 2017

DUBAI | ABU DHABI | AL AIN | SHARJAH | JORDAN

© Asteco Property Management, 2017 asteco.com | asteco.com/report_library IN THE MIDDLE EAST FOR 30 YEARS

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ASSET MANAGEMENT SALES LEASING

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REAL ESTATE NEWS UAE/ GCC

PREMIUM PROPERTY CAN LIFT UAE AND SAUDI ECONOMIES, EXECUTIVES SAY

REITS OFFER EFFICIENT WAY TO OWN UAE PROPERTIES WITHOUT THE HASSLE

MANAZEL MAKES FURTHER CUTS TO PLANNED JORDAN DEVELOPMENT

IMF SHARPLY CUTS MIDEAST OIL EXPORTERS’ ECONOMIC GROWTH FORECASTS

MARKET ANALYSIS: IN TIME, NEW BANKRUPTCY LAW WILL BENEFIT UAE CAPITAL

MARKETS

ISLAMIC HOME FINANCE GOES MAINSTREAM

ATKINS BOARD AGREES TO £2.1BN TAKEOVER APPROACH FROM CANADA’S SNC

LAVALIN

GOVERNMENTS OF GULF COUNTRIES INCREASINGLY FOCUSING ON

DEVELOPMENT OF TOURISM SECTOR

CHINESE INVESTORS LAUNCH OMAN INDUSTRIAL PROJECT

DUBAI

MORE VISITORS AT DUBAI WORLD TRADE CENTRE

EMAAR PROPERTIES DECLARES 15% CASH DIVIDEND OF DH1.074BN FOR

SHAREHOLDERS

IS YOUR SALARY ENOUGH TO AFFORD DUBAI RENTS?

SOUTHERN AFRICAN FUND PICKS EXPOSURE IN DUBAI REALTY

DUBAI PROPERTY Q1 GAINS LED BY HIGHER VALUE DEALS

AHEAD OF ATM, FOCUS IS ON THREE-STARS AND EXPERIENCES

WHAT IS THE INTERIM PROPERTY REGISTER?

IS THE MOST EXPENSIVE PROPERTY THE MOST UNDERPERFORMING?

FROM THE SEA TO THE DESERT: NEW COMMUNITIES IN DUBAI

SUSTAINABLE CITY RATED DUBAI’S ‘HAPPIEST’ COMMUNITY

NAKHEEL BREAKS GROUND ON DH176M HOTEL

DAMAC TO BUILD 2,000-ROOM HOTEL OVERLOOKING AKOYA OXYGEN GOLF

COURSE

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REAL ESTATE NEWS DUBAI’S PUSH FOR TRANSPARENT REAL ESTATE ARBITRATION

ITHRA DUBAI TO DEVELOP COMMUNITIES FOR ENRICHMENT OF SOCIETY

DUBAI TOURISM BRIEFS HOTEL INDUSTRY ON CITY’S LATEST DEVELOPMENTS

ABU DHABI

MALL TO BE CENTREPIECE OF ZAYED SPORTS CITY PROJECT

ABU DHABI’S KHIDMAH TO MORE THAN DOUBLE LIFEGUARDS

ABU DHABI’S TDIC MULLS IDEA OF AFFORDABLE HOUSING FOR SAADIYAT ISLAND

ALDAR MAINTAINS ITS AIM AT ABU DHABI MID-MARKET PROPERTY

ESHRAQ AND MUBADALA TEAM UP FOR ABU DHABI PLOT DEVELOPMENTS

ABU DHABI RESIDENTIAL SALE PRICES DROP IN THE FIRST QUARTER

DH3.23 MILLION ALLOCATED FOR DEVELOPMENT OF COMMUNITY FACILITIES IN

ABU DHABI

SEVEN PUBLIC MARKETS FOR ABU DHABI SUBURBS

ALDAR LAUNCHES MID-MARKET RESIDENTIAL UNITS 'THE BRIDGES' ON REEM

ISLAND

NEW COMMUNITY FACILITIES TO ENHANCE LIVING STANDARDS IN AL DHAFRA

TIME TO INVEST IN ABU DHABI

MUBADALA REAL ESTATE UNVEILS ARZANAH PROJECT IN ABU DHABI

TDIC SAYS PROJECTS ON TRACK WITH CONSTRUCTION IN FULL SWING

TOP DEVELOPERS AMONG 100+ EXHIBITORS AT CITYSCAPE ABU DHABI

ABU DHABI PROPERTY AT A GLANCE

IN ABU DHABI, NEW APARTMENTS OFFER THE BEST DEALS

IMKAN STARTS THE ARTERY AT MAKERS’ DISTRICT ON REEM ISLAND

ABU DHABI MUNICIPALITY SIGNS DEALS WITH DEVELOPERS FOR FOUR

COMMUNITY MALLS

PROGRESS MADE ON ZAYED CITY DEVELOPMENT IN ABU DHABI

SAADIYAT ISLAND RESORT DEAL AWARDED TO HILL INTERNATIONAL

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REAL ESTATE NEWS

NORTHERN EMIRATES

RAK TO CONSOLIDATE FREE ZONES

MINISTRY OF INFRASTRUCTURE DEVELOPMENT TO IMPLEMENT THREE PROJECTS

WORTH DH171M

EXPO CENTRE SHARJAH DISCUSSES COOPERATION WITH ISLAMIC CENTRE FOR

DEVELOPMENT OF TRADE

RAS AL KHAIMAH SEES GROWTH IN INTERNATIONAL ARRIVALS IN FIRST QUARTER

INTERNATIONAL

CHINESE PROPERTY STOCKS GO BACK IN OVERHEATED MODE

BARCLAY BROTHERS BID FOR GROSVENOR HOUSE HOTEL: TIMES

LUXURY LONDON HOME PRICES STAGNATE AS TOP-END AREAS DECLINE

ROBUST DEMAND FOR CHINESE PROPERTY AS MORTGAGE LOANS JUMP IN FIRST

QUARTER

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MALL TO BE CENTREPIECE OF ZAYED

SPORTS CITY PROJECT Wednesday, April 19, 2017

Mubadala Real Estate will look to begin talks with mall operators and investors interested in bringing forward a

new 316,918 square metre mall next to the 43,000-capacity Zayed Sports City stadium by the end of this year.

The mall will form the centrepiece of the revamped Arzanah development unveiled by Mubadala Real Estate at

Cityscape Abu Dhabi on Tuesday. It will comprise more than 1.9 million sq m of built-up space around the existing

football and tennis stadiums that will eventually be home to more than 30,000 people.

Ali Eid AlMheiri, the executive director of Mubadala Real Estate, said the master plan unveiled was a "concept of

how we believe the site could be developed in the future", but is based around promoting an active lifestyle for

families.

Residential buildings, for instance, could feature rooftop tennis courts and pools and there will be football pitches

spread across the site. Mubadala Real Estate will be the site’s master developer and will service the plots, which it

then plans to offer to third-party developers.

The new mall will be the first element to be brought forward.

"Once the concept is approved by all of the authorities then we will be marketing the plot to well-known mall

operators/investors – the usual players in the UAE. We’ll get into discussions with them, see who’s interested in

buying it and on the best commercial terms," said Mr AlMheiri.

"We’re probably looking at some time towards the year- end. After that, once you reach the commercial

agreement with them, then the clock ticks."

He said potential investors and developers would largely decide on what went in the new mall (where a connected

hotel is also proposed), but added that it is expecting the mall operator will incorporate an ice rink and bowling

alley to replace existing facilities on site that will make way for the Arzanah project.

The bulk of the remaining site will be made up of residential plots, although there is space for a couple of office

buildings. However, Mr AlMheiri said Mubadala was conscious of current market conditions and would not "flood

the market" with new plots.

"We will be servicing the plots and selling to third parties to do those developments. And the third party will not

come to do the plot unless the market is there to develop. So we are both aligned."

He argued that there would be more interest in the mall, however, despite several major new mall projects now

under way in Abu Dhabi, because most of these are on the eastern side of the island, while this is on the west.

Arzanah was initially launched as a joint venture between Mubadala and Singapore-based Capitala in 2008 as a

1.4 million sq feet scheme containing a five-tower development with 854 apartments known as Rihan Heights on

one corner. Mubadala ended up buying several of the buildings itself.

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Mr AlMheiri said that Capitala would continue to oversee the Rihan Heights project but that Mubadala "will act as

the master developer and will be responsible for developing the necessary infrastructure of the multi-phase

master plan".

Source: The National

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ABU DHABI’S KHIDMAH TO MORE THAN

DOUBLE LIFEGUARDS Wednesday, April 19, 2017

The Abu Dhab-based