It was a symbol of the swagger in London’s luxury home market: a mansion in the trendy Notting Hill neighbourhood with a car elevator and a swimming pool that transforms into a ballroom at the touch of a button.

But just over a year after Havona House was listed with great fanfare for £25 million (Dh118.5m), the owners of the seven-bedroom house have taken it off the market, stymied by the longest price slump in decades.

The"...

Reuters
PARIS
IKEA opened its first store in the heart of Paris on Monday, its latest step in developing a new range of shops designed to meet changing customer habits.
IKEA, the world’s biggest furniture retailer, is known for its vast self-service out-of-town stores, but it is adapting its business model in the face of mounting competition and customers who prefer the ease of buying items of furniture online.

...

Eagle Hills Diyar, the developer behind Bahrain’s iconic waterfront project Marassi Al Bahrain, has signed an agreement with a syndicate of banks from UAE and Bahrain for $374 million to finance the construction of Marassi Galleria, Address Hotel and VIDA Hotel.

The syndicated financing underscores the banks’ confidence in the strength and success of the developments, and highlights Eagle Hill Diyar’s objective to cooperate with key GCC financial institutions.

The agreement was"...

RAK Properties posted an 84 per cent plunge in first-quarter net profits as revenues dropped.

Net profit in the three months ending March 31 reached Dh4 million compared with Dh24.6m in the same period a year ago, RAK Properties said in a filing to the Abu Dhabi stock exchange on Sunday. First-quarter revenue fell to Dh45.8m compared with Dh58.6m in the prior-year period.

The"...

CBRE, the global real estate consulting firm, has launched its first ever Proptech event in the Middle East. Hosted by Dubai’s Chamber of Commerce and Industry (DCCI), the event will cover the digital transformation of the real estate sector and its effects on property lifecycles from finding and marketing a property to buying, selling and letting it more easily.

Led by Dr. Thomas Herr, EMEA Head of Digital Innovation at CBRE, the forum will provide a unique opportunity for all of those in real estate —"...

Hong Kong paper tycoon Raymond Lee Man Chun, and his wife, Wong Man Yi, made the city's most expensive luxury real estate purchase this year, paying HK$1.45 billion (Dh680 million) for a nine-apartment complex in Repulse Bay.

Mr Lee, the chairman and co-founder of Lee & Man Paper Manufacturing, and his wife, bought the property through their privately owned company"...

The Dubai Real Estate market is likely to be impacted by UK’s uncertainty to stay or exit the European Union (EU).

The ambiguity of the exit plan and the rejection by the British Parliament of the idea of a Brexit without a deal, could pose a serious risk to the British economy in general and would also increase the risk levels on all current and potential Real Estate investments in UK. This improbability has also affected UK’s position"...

The Dubai-based AA Al MOOSA Enterprises LLC, a dynamic and service oriented conglomerate that includes a wide spectrum of business interests, announced the rebranding of one of its four stars hotel properties located in a strategic area in the emirate of Sharjah, United Arab Emirates. The announcement came during the Arabian Travel Market exhibition held in Dubai from the 28 April to 1 May 2019.

Previously managed by Wyndham Hotels & Resorts"...

King Abdullah Economic City (KAEC) has launched the new upscale Azalea residential villas community, offered with a 10 year payment plan with no profit margins, only with a 10 percent down payment and a handover of the unit after 20 percent.

The sales event will be held in the KAEC Display and Sales Center in Prince Sultan Street, Jeddah, during the period from April 25 to May 2.

The Azalea project that is expected to handover in Q1 2020, covers an area of 29,500 sq m and includes 59 fashionable"...

Dubai-based master developer Nakheel is set to showcase its new waterfront dining and leisure destination, The Pointe at Palm Jumeirah, at the Arabian Travel Market (ATM) 2019 which kicks off tomorrow (April 28) in Dubai.

The leading global event for the Middle East’s travel industry, ATM attracts more than 39,000 travel professionals, government ministers and"...