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Nakheel reported a net profit of AED1.48 billion (USD402.91 million) for the first quarter of this year and confirmed its retail, hospitality and residential leasing business has performed solidly.

Amadeus IT Group has revealed an accelerated profit growth as a result of positive performance of its distribution system and IT solutions, along with boosting its core business strategy with acquisitions.

According to STR's January 2017 Pipeline Report, there were 159,581 keys in 556 properties under contract in the Middle East, a year-on-year increase of 5.1 percent in rooms.

DAMAC Properties has revealed that in the first two months of the year, it awarded 121 construction, supplier and consultancy contracts worth AED1.4 billion (USD381 million).