Wednesday 4 May 2016

Ezdan Holdings mandates banks for $2bn sukuk

Qatar's Ezdan Holding has mandated HSBC and Dubai-based Mashreq as joint global coordinators for its planned $2 billion sukuk programme, the property developer said on Tuesday. Barwa Bank, Emirates NBD Capital, HSBC and Mashreq will be joint lead managers and book runners for


Penspen awarded design contract by Adnoc

Penspen, a leading global provider of services to the energy industry, has signed an agreement with Adnoc Distribution to provide detailed engineering services for the upgrade of various terminals and depot facilities in the UAE. These include Al Ain Zakher Terminal, Mussafah Mul


Saudi Binladin crisis will be resolved says minister

The crisis surrounding major Saudi Arabian construction company Saudi Binladin Group (SBG), which has been struggling to pay its workers, will be resolved, Labour Minister Mufrej Al Haqbani said on Tuesday. Al Haqbani, speaking to reporters at a business conference in Riyadh, sai


Danube launches new UAE residential project

Danube Properties, a UAE-based real estate developer, has announced the launch of its sixth projec t- Glamz Residence, a Dh300-million ($81.6 million) development in the Al Furjan area of Dubai near Discovery Gardens - targeted at the affordable housing segment. Unveiling the pro


UAE beachfront project on track for 2016 handover

Key infrastructure work at Hidd Al Saadiyat, an exclusive beachfront community in Abu Dhabi, UAE, has been completed and the project is on track for handover by the end of 2016. Initial construction work on the project began in January 2013 and so far all the construction milesto


Qatar, UAE among top nations for infrastructure investment

Qatar and the UAE rank the second and third most attractive countries for infrastructure investment across the globe despite low oil prices hindering such investment, says a key report from Arcadis, a leading global design and consultancy firm. Nations with secure business environments


Jeddah sees real estate market slowdown

The Saudi city of Jeddah has witnessed a general slowdown across all its real estate sectors in the first quarter due to demand-supply mismatch and the country’s overall macroeconomic scenario, according to a report. The existing demand-supply mismatch is expected to widen


Dubai’s office market posts solid growth in Q1

The office market in Dubai, UAE, continues to see strong demand for good quality, efficient, and well located accommodations, resulting in declining vacancy rates in key sub-markets, according to global real estate consultancy firm CBRE. In Tecom and Dubai International Financial


Veolia wins first Oman waste management contract

Veolia, a global leader in optimised resource management, said the company has secured its first waste management contract in Oman in partnership with its local partner Al Ramooz National. The contract was awarded by be’ah (Oman Environmental Services Holding Company) to ma


Karcher posts double-digit Mideast growth

Karcher, a world leader in innovative cleaning technology solutions, has recorded double-digit sales growth in the Middle East region in 2015, despite difficult market conditions, mainly through expansion of its products and services into various other industries. The company, wh

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