Property briefs

Foreign investors can buy 25% of Deyaar
The board of Dubai-based developer Deyaar Development has recommended allocating 49 per cent of its share capital, open to non-UAE nationals, to foreign investors, provided that the share of capital owned by foreigners should not exceed 25 per cent, according to reports.

Aldar plans 1,000 housing units
Abu Dhabi’s Aldar Properties is planning a number of new developments, including up to 1,000 units on Abu Dhabi island, Yas Island and Al Raha Beach, according to reports. The projects will be developed in phases, in line with market demand, the developer said.

Rotana eyes 100 hotels
Rotana has undergone big changes at the top as Co-Founder Selim El Zyr passes the lead on to Omer Kaddouri, the new President and CEO. El Zyr will continue to serve in an advisory role as the Vice-Chairman of the Board. Kaddouri, the former Executive Vice-President and COO, will take the helm as the new President and CEO. The executive change is expected to pave the way for Rotana’s aggressive expansion plans to operate 100 hotels by 2020.



Source: Property WeeklyPW


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