DUBAI: DAMAC Properties Dubai Co. has announced financial results for the nine months of 2019, reporting total revenue of AED 2.8 billion, with booked sales reported at AED 2.4 billion. Gross profits for the same period stood at AED 838 million reflecting gross profit margins of 30.3%. Total assets stood at AED 24.5 billion compared…
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Etalon completes Schastye v Lianozovo residential complex
MOSCOW: Etalon Group Plc has completed the Schastye v Lianozovo residential complex in the north of Moscow. The project has a total NSA of 8 ths sqm, including 6 ths sqm of residential area. Etalon is one of Russia’s largest and longest-established development and construction companies. Schastye v Lianozovo is a modern comfort-class building with…
Radian Group and Yarlington enter into a partnership
LONDON: Radian Group and Yarlington have formally entered into a new partnership, creating an organisation that manages 38,000 homes and assets with 79,000 customers living in their homes across the south and south west of England. From 4 November 2019, Yarlington will become a subsidiary of Radian Group, with both organisations operating with a shared…
Derwent London signs a new 5-tear £450 million revolving credit facility
LONDON: Derwent London has agreed and signed a new five-year £450 million revolving credit facility (RCF) from HSBC UK, Barclays and NatWest. The financing includes a ‘green’ tranche of £300 million, making it the first revolving credit facility provided to a UK REIT that meets the LMA Green Loan Principles. Derwent is the largest London-focused…
Midlands JV created to promote strategic site
LONDON: Henry Boot PLC, a company engaged in land promotion, property investment and development, and construction has entered into a joint venture (JV) to pursue a strategic land opportunity in the Midlands as it continues to grow its long-term land pipeline for new residential and commercial development. Hallam Land Management Limited, a subsidiary of Henry…
Deyaar reports revenues of AED 483.3 million for the nine months of 2019
DUBAI: Deyaar Development, one of Dubai’s leading property developers and real estate service providers, announced its financial results for the nine months ended 30 September 2019. The company reported revenues of AED 483.3 million for the nine months ended 30 September 2019, an increase of 3.6% compared to AED 466 million in the same period…
CLS Holdings completes acquisition of Pacific House in Reading
LONDON, UK: CLS Holdings announces that it has completed the acquisition of Pacific House in Reading, a 57,086 sq. ft (5,303 sqm) multi-let office building, for £14.9 million excluding costs. The acquisition has a net initial yield of 7.3%. The building, which is located to the south of Reading, is 92% let to 7 tenants…
Frasers Property Australia and Sekisui House Australia sell retail assets
SYDNEY: Frasers Property Australia and Sekisui House Australia, the joint venture partners behind the award-winning A$2 billion Central Park in Sydney CBD, have sold and settled the three final retail assets in the mixed-use community to a consortium comprising Fortius Funds Management and SC Capital Partners Group on behalf of its RECAP V Fund, for…
Deyaar completes Mont Rose project
DUBAI: Deyaar Development PJSC, one of Dubai’s largest property development and real estate services companies, and Millennium Hotels & Resorts, one of the fastest-growing hotel management companies in the region, announced that the project work of Millennium Executive Apartments Mont Rose is now completed and expected to be operational this October. Part of the three-tower…
LXi REIT announces acquisitions worth £23 million
LONDON: The Board of Directors of LXi REIT, the specialist inflation-protected long income REIT, announced long-let, index-linked acquisitions for a combined total investment of approximately £23 million. These Acquisitions are being funded by the Company’s new Revolving Credit Facility (RCF), announced on 22 July 2019. The Company is also in solicitors’ hands on additional acquisitions…
Unite disposes of two assets for £96 million
LONDON: Unite Students, one of the UK’s leading owners, managers and developers of student accommodation, announced the disposal of two wholly owned properties in Coventry, comprising 1,127 beds for £96 million. The properties are being sold to Mapletree Investments Pte Ltd and have both now exchanged and completed. The purchase price is in line with…
Deyaar launches utilities management company, Nationwide Management LLC
DUBAI: Deyaar Development PJSC, one of Dubai’s leading property developers and real estate service providers, has announced the expansion of its portfolio with Nationwide Management LLC for the supply, management and retrofit of utility management across various buildings and communities. The new company will focus on delivering superior utilities management solutions, complementary to services currently…