Monday 21 April 2014

Kingdom Tower work to start next week

Above-ground work on the world's first one-kilometre tall tower will start next week in Jeddah, Saudi Arabia, a report said. Construction on the Kingdom Tower is scheduled to begin on April 27, said reports. Construction is scheduled to complete in 63 months. T


Aldar launches new $1.4bn Abu Dhabi projects

Real estate developer Aldar Properties has launched three new developments in Abu Dhabi worth 5 billion dirhams ($1.4 billion), the company said on Monday. "Off-plan sales for the three developments will commence in May and construction is scheduled to begin in 2015," i


CPC backs summit as strategic partner

Saudi Arabia-based Construction Product Holding Company (CPC) has strengthened its commitment for The Arabian World Construction Summit (AWCS) by elevating its relationship to strategic partner. The summit will take place from May 12 - 14 at the Sofitel Hotel, The Palm Dubai.


Qatar tenders mega water reservoirs project

Qatar’s General Electricity and Water Corporation (Kahramaa) has announced the tender for the construction of five primary reservoir and pumping station (PRPS) packages as part of its water security mega reservoirs project. The five separate packages (A – E), cover ma


Dubai plans art museums in Metro stations

Dubai’s Roads and Transport Authority (RTA) has signed an agreement with the Dubai Culture & Arts Authority towards transforming six of the Dubai Metro stations into museums showcasing artistic and cultural works with a project cost of Dh184 million ($50 million). RTA a


Emiratis, Indians top real estate investments in Dubai

Emiratis ranked highest among all investors in Dubai during the first quarter of 2014, in terms of the value of investments, with Indians being the largest number of foreign investors. Investments in Dubai's real estate sector totalled Dh35 billion ($9.53 billion) during the first


Qatar Rail awards major Metro insurance deal

Qatar Railways has awarded one of the largest ever single project tunneling and rail construction insurance policies of the Doha Metro to an six-member consortium of Qatari national insurance companies, led by Qatar Insurance Company (QIC). The consortium includes additional capa


Saudi contract awards slide in Q1 to $10.58bn

The value of contracts awarded in Saudi Arabia during the first quarter of this year fell 19 per cent to SR39.7 billion ($10.58 billion), compared to SR49.1 billion during the same period last year, a report said. The numerous amounts of mega-projects that were witnessed througho


Abu Dhabi office market ‘still stagnating’

Despite the on-going drive for economic diversification in Abu Dhabi, the office market is yet to see any benefit, with weak, but stable demand levels leading to a stagnation in commercial rents, a report said. With mixed availability of commercial space across the Abu Dhabi mark


Khodari Q1 operating profit falls on labour costs

Major Saudi Arabian construction firm Abdullah A M Al-Khodari Sons said on Sunday that its net profit for the first quarter of this year jumped 78 percent on the back of earnings from an auction of plant and machinery. Net profit rose to 32.63 million riyals ($8.7 million) from 1

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