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The number of homes available for sale in the $10 million+ bracket fell 40 percent, down to only 2,491 homes over the last 12 monthsDubai’s real estate sector witnessed a remarkable expansion in 2024, with residential property values rising by 19.1 percent over the past year to AED1,685 per square foot, according to the latest report from global property consultant Knight Frank. This places average prices at 13.3 percent above the 2014 peak.Villa sale prices have grown by 20.2 percent over the last 12 months, reaching AED2,009 per square foot, placing them 38.1 percent above the 2014 peak. This growth…

The $135.97 million financing will enable the acquisition of vital equipment and ensure project success The National Bank of Fujairah (NBF) has effectively completed a significant single currency term and letter of credit syndicated transaction amounting to $100 million. This initiative is aimed at supporting Pure Cement LLC in the establishment of a clinker production unit with a capacity of 6,500 tons per day (TPD) alongside an 8.5 MW Waste Heat Recovery-based captive power plant.With the overall project costing $135.97 million, this financing will facilitate the acquisition of essential plant, equipment, and fixed assets, thereby ensuring the project’s successful implementation.Read…

U.S. Treasury yields were lower on Monday as investors await a busy week of key economic data and take in the state of the U.S. economy after comments from U.S. President Donald Trump over the weekend.At 5:51 a.m. ET, the benchmark 10-year Treasury yield fell more than 5 basis points to 4.261%. The 2-year Treasury yield dropped by more than 4 basis points to 3.96%.One basis point is equal to 0.01%, and yields and prices move in opposite directions.Investors are anticipating several economic data releases this week, with the New York Fed survey of consumer expectations due out on Monday at 10 a.m.…

Wharf Real Estate Investment Co, one of Hong Kong’s biggest commercial landlords, said earnings tumbled last year as revenue from investment and hotel properties declined and a multi-year slump in the property market further eroded the value of its assets.Net profit fell 81 per cent from a year earlier to HK$891 million (US$114.7 million), mainly due to a five-fold increase in property revaluation deficit to HK$5.66 billion amid weak demand for commercial real estate, it said in a stock exchange filing on Monday. Revenue slipped 3 per cent to HK$12.9 billion. Excluding the deficit, earnings from its underlying business rose…

The yen rose in Asian trade on Monday against a basket of major rivals, resuming gains against the dollar and about to touch five-month highs on risk aversion as traders buy up safe havens.    The gains are boosted by a drop in US 10-year treasury yields following weak labor data, which bolstered the case for a Fed rate cut in the first half of the year.   The Price   The USD/JPY pair fell 0.55% today to 147.09 yen per dollar, with a session-high at 147.94.   The yen closed down 0.1% on Friday against the dollar, marking the…

China’s technology hubs of Shenzhen and Hangzhou posted strong population growth in 2024, as the cities bucked the country’s broader demographic decline by attracting a wave of migrants.However, several provinces in central and western China saw their populations shrink amid an intensifying inter-regional talent war driven by the country’s ongoing population crisis.Local governments across China are beginning to release their population data for 2024, with Shenzhen and the eastern province of Zhejiang – where Hangzhou is located – among the handful of localities to have already published their reports. Beijing, Shanghai, Guangzhou and several other major cities have yet to…

Zarea Limited, one of Pakistan’s largest commodities B2B platforms, has announced its expansion into the country’s coal supply chain. With the latest move, Zarea aims “to strengthen its position in the industrial fuel market,” the company said in a notice to the Pakistan Stock Exchange (PSX) on Monday. “Zarea Limited has expanded its footprint in the local coal sector, ensuring a stable and cost-efficient supply for key sectors, including textiles and power generation,” it said. The company informed that it is also optimizing logistics and procurement processes to enhance efficiency and cost-effectiveness. “This strategic expansion is expected to significantly boost…

West Texas Intermediate crude futures saw a similar decline of 0.4 percent to $66.48 a barrelOil prices saw a decline on Monday as lackluster inflation data from the leading importer, China, left traders anxious about decreasing demand. Additionally, uncertainty surrounding the effects of U.S. trade tariffs contributed to the downward pressure.Crude prices had plummeted to levels not seen in more than three years last week, driven by a multitude of negative factors, primarily worries over diminishing demand and rising supply. Indicators of a cooling U.S. economy further compounded the situation.Brent oil futures set to expire in May decreased by 0.4…

The Lahore High Court (LHC) has sanctioned a demerger/merger scheme for the transfer of the whole of the business and undertaking of the “calcium carbide project” of Ghani Chemical Industries Limited (GCIL) to its wholly-owned subsidiary, Ghani ChemWorld Limited (GCWL). The listed company shared the development in its notice to the Pakistan Stock Exchange (PSX) on Monday. “We are pleased to inform you that the Honorable Lahore High Court, Lahore vide its order dated February 20, 2025 (issued on March 07, 2025) has sanctioned the demerger/merger scheme of compromises, arrangement and reconstruction for the transfer of whole of the business…

DLD supports real estate growth by attracting a specialized U.S. proptech investment fund to Dubai Dubai Land Department (DLD) and REACH, a globally recognized real estate technology accelerator backed by the National Association of REALTORS® (NAR), have signed a landmark partnership to launch REACH Middle East. The pioneering initiative aims to attract emerging proptech companies to Dubai and the region while driving innovation in the real estate sector.This partnership comes as Dubai Land Department gears up to host PropTech Connect 2026, the world’s premier real estate technology conference and exhibition. The first-of-its-kind event will unite top industry leaders, investors, and…