Emaar uses Dubai Mall as security in $1bn loan
Emaar Properties has used Dubai Mall, one of the world’s largest shopping centres, as collateral to secure Dh3.6 billion (US$980 million) of financing from a trio of UAE banks.
Emaar Properties has used Dubai Mall, one of the world’s largest shopping centres, as collateral to secure Dh3.6 billion (US$980 million) of financing from a trio of UAE banks.
Milestone Capital, which is looking for potential buyers after its founder Ved Prakash Arya died in a freak accident two months ago, has found another suitor, Piramal Group.
Fortis Healthcare (India) Ltd. plans to raise as much as $500 million by hiving off some of its properties into a real-estate investment trust, or REIT, and listing it in Singapore.
Emaar Properties PJSC, Dubai’s largest real-estate firm, has asked consultants and investment bankers to value its Indian joint venture Emaar MGF Land Ltd’s assets.
The real estate has been calculating the revenue on Percentage Completion Method and not Project Completion Method. With the Percentage Completion Method, the developers treated payment received from the home buyers for purchase of flats under construction as turnover of the company and net income generated from such projects was treated as profit.
RICS will continue to offer thought leadership, engaging with policymakers, end-users, service providers, employers and practitioners to foster trust in the built environment through enforced standards, transparency and accountability.
Embassy Group has been conferred the prestigious ‘Sword of Honour’ by the British Safety Council for three of its business parks – Embassy Manyata Business Park, Embassy TechVillage in Bangalore and Embassy TechZone in Pune.
News Point: Joint skills development initiative aimed at improving knowledge…
The Royal Institution of Chartered Surveyors (RICS) has appointed Devina Ghildial as Managing Director – South Asia with effect from March 9th, 2015. In this role, Devina has been entrusted with leading the RICS in the South Asia region with a focus on growing the professional qualification, driving commercial growth, influencing policy, growing the training business and promoting professionalism and standards in the sector.
Track2Realty: Globally, as project delays, cost overruns and liquidity constraints continue to trouble the real estate and construction sectors, Building Information Modelling (BIM) has emerged as one of the most reliable tools to eliminate challenges and reduce the capital cost and carbon footprint by over 20 per cent.