Wednesday 29 June 2016

Saudi regulator forms panel to oversee builder Mojil

Saudi Arabia's securities regulator said it would form a committee to oversee Mohammad Al Mojil Group (MMG) after the Saudi Arabian construction firm's board resigned when three people involved with the business were found guilty of fraud. MMG's board quit last week w


Miral signs partnership deal with skyTran

UAE-based Miral has signed a deal with skyTran, a Nasa Space Act Company, to launch the study and implementation of skyTran, a personal rapid transit (PRT) system, for the first time in the Middle East on Yas Island, Abu Dhabi. Headquartered at the Nasa Research Park near Mountain View


Cayan Group inks Saudi home finance deal

Cayan Group, a leading property developer in the Middle East, has signed an agreement with Saudi-based Bidaya Home Finance to provide financing solutions to its clients. Bidaya Home Finance is a national real estate finance company sponsored by the Islamic Corporation for the Dev


Alstom team wins $2.9bn deal to expand Dubai Metro

Dubai's Roads and Transport Authority (RTA) has awarded a Dh10.6-billion ($2.9 billion) contract to a consortium led by France's Alstom to expand the city's metro system to the Expo 2020 site. The ‘Route 2020’ project contract for extending the Red Line of the D


BASF plays key role in Dubai's Office of the Future

BASF, the world’s leading chemical company, said it has provided innovative construction solutions to the world’s first fully functional 3D-printed office building - ‘Office of the Future’ - in Dubai, UAE. The futuristic workspace serves as the temporary o


Saudi Arabia boosts real estate transparency ratings

Saudi Arabia has moved up the rankings to finish in the ‘Semi-Transparent’ category for the first time in the JLL and LaSalle Investment Management’s 2016 Global Real Estate Transparency Index (Greti). The index compiled by global property expert JLL ties transp


ACC wins Mashreq HQ building contract

Mashreq, one of the UAE’s leading banks, said it has signed up Arabian Construction Company (ACC) to build its new corporate headquarters in Downtown Dubai. The work is due to start later this year. The bank, which has been headquartered out of Deira since it began operatio


German group Ziehl-Abegg names ME chief

Ziehl-Abegg, a leading player in the field of ventilation and drive technology and the associated control systems, has appointed David Miller as the managing director for the Middle East region. An industry veteran, Miller has already worked for a number of companies in the Middl


Al Markab awards Qatar office building contract

Qatar-based Al Markab Real Estate has signed up Al Khayarin Group Trading and Contracting for the development of its office building with a total built-up area of 11,430 sq m at Energy City in Lusail, said a report. The contract is for demolition, construction, completion and mai


KBW seals partnership with Greek engineering firm

UAE-based KBW Investments has signed an agreement for a multifaceted partnership with Greek engineering and consulting firm Salfo and Associates that will see the two companies expand operations and collaborate on projects in the Middle East and Europe. The agreement will include

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