Saturday 30 July 2016

S Korea to help redevelop port city of Alexandria

South Korea will conduct a feasibility study on redeveloping the historic port city of Alexandria in Egypt, a report said. The study will look into the technical feasibility of the development of the Egyptian seaport, along with detailed plans to raise funds, the Yonhap news agen


UAE's property loans improve despite price slide: IMF

The quality of real estate loans in the UAE has continued to improve despite sliding home prices, the International Monetary Fund (IMF) said, in a sign that the country is coping better with a real estate downturn than it did in the last slump seven years ago. Dubai's average


Major foreign firms bid for Saudi clean fuels project

Foreign engineering companies have bid to build Saudi Aramco's clean fuels project at the state oil giant's Ras Tanura refinery, industry sources told Reuters.   The bid deadline was July 17 for the $2 billion-plus scheme which will remove sulphur from r


Construction sector to boost Mideast FM market

The Middle East facility management (FM) market will be fuelled by construction activities and the strong presence of multi-national firms in the next five years, a report said. Globally, the market will touch $945.11 billion by 2025 with integrated FM (IFM) as the fastest growin


Libya fund appoints PwC as strategic advisor

The Libyan Local Investment & Development Fund’s (LLIDF) has appointed professional services firm PwC as its advisor to support feasibility studies for three strategic projects. The projects include redevelopment of Tripoli Airport, and the development of specialised ho


Nakheel posts $803m H1 profit

Dubai-based Nakheel, one of the world’s leading developers, today announced a net profit of Dh2.95 billion ($803 million) for the the first six months of 2016, representing a four per cent increase on the net profit of Dh2.83 billion in the same period in 2015. Nakheel hand


Riyadh, Jeddah real estate slowdown continues

The real estate markets in the Saudi cities of Riyadh and Jeddah continue to maintain an overall slowdown in performance, according to a JLL report. JLL, a leading global real estate investment and advisory firm, today released its Q2 2016 Riyadh and Jeddah Real Estate Overview r


dorma+kaba wins Jordan cancer centre contract

dorma+kaba, a major player in opening solutions, has won a contract for The King Hussein Cancer Center (KHCC) expansion in Jordan. The contract is valued at $1.4 million and will see dorma+kaba provide state-of-the art solutions from its complementary product portfolio.


Turner & Townsend Mideast revenue up 24pc

The global professional services consultancy Turner & Townsend has increased its Middle East turnover by a quarter, and its profits by nearly a third, in the year ended April 30, 2016. The company’s strong performance in the Middle East – which saw regional turnov


SNC-Lavalin wins Oryx GTL Qatar contract

SNC-Lavalin has been awarded an engineering consultancy and support services contract by Oryx GTL, a joint venture between Qatar Petroleum and Sasol of South Africa, for its gas-to-liquids (GTL) complex at Ras Laffan Industrial City in Qatar. This five-year contract is with SNC-L

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