Monday 18 October 2021

Dubai set for grand opening of world’s largest observation wheel

Ain Dubai, the world’s largest and tallest observation wheel by Dubai Holding, has lined up two days of family entertainment programmes and activities to mark its opening on October 21 at the spacious Ain Dubai Plaza.   Standing at over 250 m, it is the ce


Al Ruwad puts spotlight on smart UAE real estate investments

Al Ruwad Real Estate, a company specialised in real estate marketing and consultancy in Dubai, emphasised the importance of smart real estate investments in the UAE during an awareness-raising session organised virtually by the Innovation Experts Real Estate Institution (IEREI) recently


Saudi Arabia launches first offshore platform tourism project

Saudi Arabia's Public Investment Fund (PIF) has announced the launch of 'The Rig.', the world’s first tourism destination on offshore platforms.   Inspired by offshore oil platforms, 'The Rig.' will be located in the Arabian Gulf and wi


Samana sells 80pc of Dubai luxury residential project units

UAE-based Samana Developers has announced that 80 per cent of the units at its AED130 million ($35.3 million) Park Views project, located within the Arjan community in Dubai, have been sold out within four days of its launch.    The wellness-featured design


AD Ports Group H1 revenue surges 21pc to $499m

AD Ports Group, a leading global driver of trade and logistics in the UAE, has recorded a revenue of AED1.83 billion ($499 million) for the first half of the year,  up 21 per cent compared to AED1.52 billion ($413 million) last year, mainly driven by organic growth, diversification into


Neom teams up with OceanX for deep sea expedition

Saudi Arabia's futuristic $500-billion city Neom has announced extensive findings from a joint mission with non-profit ocean exploration organisation, OceanX, following the most adventurous assessment of the northern Red Sea to date.    The six-week exp


Global steel demand likely to return to pre-Covid level in 2021

Global steel demand will grow by 4.5% in 2021 and reach 1,855.4 Mt after 0.1% growth in 2020, according to the World Steel Association (worldsteel).   In 2022, steel demand will see a further increase of 2.2% to hit 1,896.4 Mt, stated worldsteel in its short-ran


Sodic signs $100m long-term syndicated facility

Leading real estate developer Sodic has signed a long-term syndicated facility worth EGP1.57 billion ($100 million) with Arab African International Bank (AAIB) and Banque Misr (BM) to finance its West Cairo flagship development Sodic West.   The facility will be


Bloom names contractor for 181-unit Abu Dhabi project

Leading UAE developer Bloom Holding has appointed Emirates Link Maltauro as the main contractor for its 181-unit project, Aldhay, featuring two-, three-, four- and five-bedroom townhouses within its masterplanned community, Bloom Gardens, in Abu Dhabi.   Located


Sakan seals $432m deal to build 5,000 new homes in Riyadh

Saudi Arabia's National Developmental Housing Corporation (Sakan) has signed an agreement worth SR1.62 billion ($432 million) with Al Birr Charitable Society to build 5,000 new homes for the needy families in the Riyadh region.   The agreement aims to provid

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