Business

Emirates NBD's Acquisition of Emirates Islamic Bank (EIB) Emirates NBD, the largest bank in Dubai by assets, has launched a mandatory cash offer to acquire the remaining 0.11% of shares in Emirates Islamic Bank (EIB), a subsidiary that operates under the Emirates NBD Group. The bank has put forward an offer price of AED 11.95 per share, which values the total outstanding stake at approximately AED 69.88 million. This strategic acquisition is part of Emirates NBD’s ongoing efforts to consolidate its operations and streamline its business structure, further enhancing its operational efficiency. Following the successful completion of the transaction, Emirates NBD plans to integrate EIB fully, but EIB will continue to operate under its own brand name. The transaction is expected to result in the delisting of EIB’s shares from the Dubai Financial Market (DFM). Once the offer is completed, Emirates NBD will hold 100% ownership of Emirates Islamic Bank, thereby further strengthening it...

Dubai Real Estate Market Report - January 2025 In January 2025, Dubai's real estate market experienced a slight decline, with property prices decreasing by 0.57%. This marks the first downturn since mid-2022, suggesting a potential stabilization in the market. Key Highlights: Sales Volume: 14,413 transactions, the highest-ever for January, though a 4.6% decrease from December 2024. Average Price per Sq. Ft.: AED 1,484 ($404). Off-Plan Market: 53 project launches from 37 developers, introducing 12,400 new units. Mortgage Transactions: Increased by 6.8% month-on-month, with 4,134 loans secured. Zhann Jochinke, COO at Property Monitor, commented: "After four years of continuous growth, Dubai’s real estate market is starting to show signs of stabilization. While transaction volumes remain strong, affordability constraints and market maturity are beginning to shape the landscape."   Median Property Prices: Apartments: AED 1.35 million Townhouses: AED 2.61 million Villas:...