{"id":33575,"date":"2016-11-09T02:59:27","date_gmt":"2016-11-08T19:59:27","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/?p=33575"},"modified":"2016-11-09T00:25:18","modified_gmt":"2016-11-08T17:25:18","slug":"eshraq-properties-set-growth-plan-with-new-project","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/eshraq-properties-set-growth-plan-with-new-project\/","title":{"rendered":"Eshraq Properties set growth plan with new project"},"content":{"rendered":"


\nThe real estate developer Eshraq Properties said it is investing Dh750 million in projects in Abu Dhabi and Dubai set to be complete by 2021 as new leadership at the company tries to turn the corner following a series of quarterly losses. Jassim Al Seddiqi, who was appointed company chairman in July, said on Tuesday one of the three projects will be in Jumeirah Village Circle in Dubai and the other two are in Abu Dhabi – Marina Rise on Reem Island and The Gateway in Sas Al Nakheel. The projects are mostly residential but also include mixed-use areas for hotel and shopping developments. “Eshraq Properties is proud to have built a unique portfolio of diversified properties, many of which are long-established and iconic to the Emirati lifestyle and culture,” said Mr Al Seddiqi, who is also chief executive of Abu Dhabi Financial Group. “We are excited for the new additions to our portfolio, which are a significant contributor to the economy, society and community of the UAE. Eshraq Properties is looking forward to escalate our rate of growth in the upcoming year and increase shareholder value in the long term.” Eshraq, whose portfolio includes properties in the Dubai International Financial Centre, reported a loss of Dh1m for the first quarter of this year compared with Dh7m in losses in the same period a year earlier. However, Mr Al Seddiqi said that the company was on a strong financial footing despite the losses because it does not have any debt and banks would be willing to help it finance projects. Shares of Eshraq closed down 1.1 per cent on Tuesday before the announcement. At the same time the chairman said that Eshraq would not distribute any dividends until the company becomes profitable. mkassem@thenational.aeFollow The National’s Business section on Twitter
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\nSource : thenational.ae
\nRead more…Eshraq Properties set growth plan with new project<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The real estate developer Eshraq Properties said it is investing Dh750 million in projects in...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-33575","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-8Jx","jetpack-related-posts":[{"id":33629,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/eshraq-properties-sets-growth-plan-with-new-project\/","url_meta":{"origin":33575,"position":0},"title":"Eshraq Properties sets growth plan with new project","date":"November 9, 2016","format":false,"excerpt":"\r The real estate developer Eshraq Properties said it is investing Dh750 million in projects in Abu Dhabi and Dubai set to be complete by 2021 as new leadership at the company tries to turn the corner following a series of quarterly losses. Jassim Al Seddiqi, who was appointed company\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":41594,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/eshraq-focuses-on-abu-dhabi-and-dubai-projects-as-construction-starts\/","url_meta":{"origin":33575,"position":1},"title":"Eshraq focuses on Abu Dhabi and Dubai projects as construction starts","date":"January 23, 2017","format":false,"excerpt":"\r Eshraq Properties says it is pressing ahead with long-delayed projects in Dubai and Abu Dhabi.The Abu Dhabi-listed developer started initial work on the Dh225 million Jumeirah Rise project in Jumeirah Village Circle in October. It said that construction would last for 25 months.Eshraq said that it intended to retain\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":41582,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/eshraq-plans-investments-in-abu-dhabi-and-dubai-as-it-starts-delayed-projects\/","url_meta":{"origin":33575,"position":2},"title":"Eshraq plans investments in Abu Dhabi and Dubai as it starts delayed projects","date":"January 23, 2017","format":false,"excerpt":"\r Eshraq Properties says it is pressing ahead with long-delayed projects in Dubai and Abu Dhabi with plans to invest Dh500 million in both emirates.The Abu Dhabi-listed developer started initial work on the Dh225 million Jumeirah Rise project in Jumeirah Village Circle in October. It said that construction would last\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":43841,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/falling-land-values-result-in-loss-for-eshraq-properties\/","url_meta":{"origin":33575,"position":3},"title":"Falling land values result in loss for Eshraq Properties","date":"February 12, 2017","format":false,"excerpt":"\r Abu Dhabi-listed Eshraq Properties slid into the red in 2016 as it took a hit on land values, the company reported.In a filing to the Abu Dhabi stock exchange on Sunday Eshraq posted a net loss of Dh575 million for 2016 compared with a net profit of Dh1.6m a\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":52011,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/eshraq-and-mubadala-team-up-for-abu-dhabi-plot-developments\/","url_meta":{"origin":33575,"position":4},"title":"Eshraq and Mubadala team up for Abu Dhabi plot developments","date":"April 16, 2017","format":false,"excerpt":"\r Eshraq Properties and Mubadala Development Company are teaming up to develop plots on Abu Dhabi's Reem and Al Maryah Islands.Eshraq said in a filing that the joint venture company would develop land plots in Abu Dhabi owned by Mubadala on Al Maryah Island and by Eshraq Properties on nearby\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":52127,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/mubadala-eshraq-consider-abu-dhabi-development-jv\/","url_meta":{"origin":33575,"position":5},"title":"Mubadala, Eshraq consider Abu Dhabi development JV","date":"April 17, 2017","format":false,"excerpt":"\r Joint venture would develop plots in Abu Dhabi owned by Mubadala on Al Maryah Island and by Eshraq Properties on Al Reem Island\r \r Source : arabianbusiness.com\r Read more...Mubadala, Eshraq consider Abu Dhabi development JV","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/33575"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=33575"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/33575\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=33575"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=33575"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=33575"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}