Sunday 28 December 2014

Qatar to become top power rental market

Increasing infrastructure development activities due to the upcoming Fifa World Cup 2022, rising transportation network, surging investments, rising hospitality sector and changing economic reforms are anticipated to drive the growth of power rental business in Qatar. According t


IronPlanet seals Cat Auction Services merger deal

IronPlanet, a leading online marketplace for buying and selling used heavy equipment and trucks, said it has signed an agreement with Cat Auction Services,  an alliance of Caterpillar, to merge the two companies. Once combined, IronPlanet and Cat Auction Services will provid


Housing prices in Saudi to plunge 30pc

The housing prices in Saud Arabia will fall about 30 per cent due to falling oil prices, distribution of more low-cost homes and the imposition of Zakat on vacant land, said a report. The real estate developers and owners are facing pressure to reduce prices, reported the Ara


IHCC chief tops in real estate, construction field

Sultan Batterjee, chief executive officer of IHCC and founder and president of Lifestyle Developers, has been listed as number one in the field of real estate and construction at this year’s ‘Leaders Inspiring a Kingdom Saudi Arabia's Entrepreneurial Elite 2014’ by Forbes


Dubai hospital starts $54m expansion work

The construction work on Dh200 million ($54.4 million) expansion of Zulekha Healthcare Group's Dubai facility has started and is expected to be completed in the middle of 2017, according to a report. The new facility will encompass a cancer care unit, inpatient rooms with a b


Saudi housing projects to gain from low oil prices

Saudi Arabia’s Ministry of Housing projects are set to gain from lower oil prices leading to a decline of 25 per cent in costs incurred by customers, according to a report. Businessmen pointed out that service projects have already been tendered for the next financial year


Saudi Arabia to see rise in housing prices

The house prices in Saudi Arabia are expected to rise further on the back of high demand for homes and a slow rollout of developments, according to a new report. The housing requirements will continue to outstrip supply even as new projects reach completion, stated Oxford Busines


Saudi set up new panel for stalled projects

Saudi Arabia has launched an autonomous arbitration panel to follow up on stalled projects in Riyadh and prevent delays by contractors, a report said. Several projects awarded by the Saudi government to contractors have been delayed because of dependence on sub-contractors, the


RAK Ceramics to exit Sudan business, boost UAE capacity

United Arab Emirates-based RAK Ceramics, one of the world's biggest makers of floor and wall tiles, said on Thursday it would sell its Sudan business and use the cash raised to expand its sanitary ware production capacity in the UAE. The company has entered an initial agreeme


Bahri & Mazroei unveils advanced LED solutions in UAE

Bahri & Mazroei Trading Company (BMTC), part of the Bahri & Mazroei Group, a leading provider of solutions for buildings and infrastructure development projects in the Gulf, has launched its range of LED (light emitting diodes) light fixtures from Arnsberg-based global lighting solution

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