The Dubai Film Connection (DFC), the co-production market of the Dubai International Film Festival (DIFF) has awarded six Arab filmmakers funding and key partnership opportunities with leading international and regional film industry experts worth $50,000 Five of the award winners…
Category: Dubai2020
Dubai-based Nakheel has invited bids for two contracts.
Fitch upgrades Jebel Ali Free Zone
Fitch Ratings has upgraded Jebel Ali Free Zone FZEs (JAFZ) long-term issuer default rating (IDR) to BBB from BBB- with a stable outlook. Fitch has also upgraded JAFZ Sukuk (2019) Limited’s senior unsecured rating to BBB from BBB-. The rating…
Dubai real estate to continue to decline
Dubai’s residential and hospitality markets have rebalanced towards a “new normal” in the first six months of 2016, according the Deloitte Real Estate Predictions 2016 – H1 Review published today. The report predicts that residential sale prices will decline further…
Nakheel to complete new twin towers
Nakheel chairman Ali Rashid Lootah announced today that work on Ibn Battuta Residences, comprising two towers of 531 apartments located next to Ibn Battuta Mall, are due for completion at the end of 2019. Nakheel is planning to expand its…
Nakheel achieves mission impossible and will be debt free from Thursday
Nakheel PJSC said today that it has repaid a AED 4.4bn ($1.2bn) Islamic bond, bringing an end to a debt restructuring process that started in 2009. The company transferred funds to agent Deutsche Bank AG yesterday the full amount of…
Dubai Investments seeks $300m loan
For full coverage of Middle East business, see MEED Dubai Investments chief executive Khalid bin Kalban said yesterday that the conglomerate is in talks with banks for a $300m loan that would go towards financing its Mirdif Hills project in…
Dubai Resorts raises AED 1.7bn in rights issue
For full coverage of Middle East business, see MEED Dubai Parks & Resorts said today that it has raised AED 1.68bn from a 1.6 times oversubscribed rights issue. The company said total subscriptions were AED 2.67bn. Most of the money is…
Dubai Parks rights issue oversubscribed
Dubai Parks & Resorts, which is developing a theme park in Jebel Ali, said today that its AED 1.68bn rights issue was oversubscribed 1.25 times. The offering is due to close in two days. Total subscription on 23 May was AED 2.1bn, the company…
Deloitte says Dubai home deliveries to be one quarter of expectation
For full coverage of Middle East business developments, see MEED Deloitte Corporate Finance said in its second annual Real Estate Predictions Report for Dubai that the number of new homes to be delivered in the emirate in 2016 could be…
Tecom Group launches media SME initiative
Aerial view of Dubai Media City looking east For full coverage of Middle East business developments, see MEED Dubai’s TECOM Group has announced a new platform for media start-ups and entrepreneurs as part of its AED 4.5bn Innovation Strategy announced…