Abu Dhabi Commercial Bank (“ADCB”) has signed an agreement to divest 80% stake in its wholly owned property management subsidiary Abu Dhabi Commercial Properties (“ADCP”) to Nine Yards Plus Holding (“Nine Yards Plus”), a real estate subsidiary of EIH Ethmar International Holding PJSC (“EIH”).
The new release of IFS BOLO 15 delivers unparalleled back-office efficiency, powered by IFS.ai. It also introduces AI-driven automation for AP invoicing, enhancing cash flow management. Additionally, updates to IFS Tobin and IFS iLandMan streamline the brine leasing process, supporting the transition to clean energy portfolios.
As of August 2024, Dubai’s total available five-star hotel rooms stand at 52,750. Kleindienst Group is set to become the largest five-star hotel developer in Dubai with its ambitious 5,000-room mega project across The Heart of Europe on The World Islands. The group has also reached a 20% construction milestone for its AED 500 million Hotel London.
Palma Development, a leading real estate developer, has celebrated a major construction milestone with the topping out of Serenia Living, an exclusive beachfront development on the crescent of Palm Jumeirah, valued at AED 3 billion.