Saturday 28 May 2016

$2 trillion projects in pipeline in GCC

The pipeline of projects planned in the Gulf Cooperation Council (GCC) states as of May 2016 amounts to $2 trillion, it was revealed at a summit of construction sector leaders in Dubai, UAE. Delegates attending the Meed Construction Leadership Summit in Dubai yesterday were told


Technip wins Saudi Kayan contract

Technip, a world leader in engineering for the energy industry, was awarded a contract by Taiwan’s CTCI to provide basic engineering and proprietary equipment for a grassroots ethylene cracking furnace at the Saudi Kayan Petrochemical Complex in Jubail, Saudi Arabia. CTCI C


EFS unveils integrated facilities management solutions

EFS Facilities Services, a regional leader in delivering integrated facilities management services across the Middle East, Africa, South Asia and Turkey, showcased its comprehensive integrated Facilities Management services platform at the FM Expo 2016. One of the region’s


Grohe launches interior design course in AUD

Grohe, one of the world's leading provider of sanitary fittings, has partnered with The American University in Dubai (AUD) to launch an advanced interior design course focusing on wellness centres analysis, planning and design. A grand event was held at the at AUD’s cam


Akar completes Dubai park project

Akar, a leading landscape contractor in the GCC region, has successfully completed the Dh24-million ($6.53 million) Palm Oasis Park project, which is set to become a landmark offering a truly Arabian feel surrounded by an extensive variety of over 39 types of palm trees. The park


Marassi Al Bahrain awards key piling contract

UAE-based private real estate investment and development company, Eagle Hills, in partnership with Bahrain developer Diyar Al Muharraq, awarded the contract for major piling works on Marassi Galleria, the lifestyle shopping and entertainment destination in Marassi Al Bahrain, the country's


Orascom consortium wins $350m Egypt project deal

A consortium of Egypt's Orascom Construction (OC) and Belgian Besix Group has won the contract from Arab Petroleum Pipelines Company (Sumed) for the construction of a new pier in Ain Sukhna area of Suez governorate at an investment of $350 million, said a report. Work will st


Limitless set to make $536m early debt repayment

Dubai-based real estate developer Limitless has confirmed that its early payment of Dh2.07 billion ($563 million) to banks and trade creditors will take place on Saturday.   The announcement follows last week's announcement that the company has successfully concluded its


Bahrain acquires land to build 25,000 housing units

Bahrain's Housing Ministry has acquired necessary land in several areas of the kingdom for the construction of 25,000 new housing units for its citizens, said a report. The provision of lands that are suitable for housing projects and services embodies the government's ke


Saudi Cement trims proposed H1 dividend

The board of Saudi Cement has proposed paying a cash dividend of SR2.75 ($0.73) per share for the first half of 2016, the firm said in a bourse statement on Wednesday. This is marginally lower than the 3 riyals per share payout for the same period in 2015. Saudi Ce

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