Here are some things you need to know as markets open today in the United Arab Emirates.
1) Dubai-listed Damac Properties has awarded more than 370 contracts worth AED 3.5 billion since January 2017, the developer said in a statement.
2) Dubai Investments said its real estate projects worth over AED 4.5 billion across the UAE are generating investor interest, amid optimistic trends in UAE’s real estate sector.
3) Dubai Food Park, the region’s largest specialized zone dedicated to the food sector, signed an AED 1.35 billion investment agreement with Ningxia Forward Fund Management Co. to build China-UAE Food Industrial cluster in Dubai, WAM reported.
4) Italian bank Gruppo Cassa Depositi e Prestiti (CDP) has granted a loan worth $300 million to Italian contractor Salini Impregilo for the construction of the Dubai-based Meydan One Mall project, the bank said in a statement.
5) Abdulmohsen Al Hokair Group for Tourism and Development has opened its MENA Plaza Albarsha hotel in Dubai, the company’s chief executive Sami Al Hokair said in a statement.
6) The number of buildings constructed in Abu Dhabi reached 913 during Q2 2017, rising 21.6 percent from 751 buildings during the same period of 2016, WAM reported.
7) Oil prices closed with declines on Friday, with US crude down more than 3 percent amid concerns over disruption in demand from refineries in the hurricane-hit states. WTI crude slumped 3.3 percent to close at $47.48/bbl, while Brent crude fell 1.3 percent to $53.78/bbl.
Write to Nadeshda Zareen at nadeshda.zareen@argaamplus.com
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