Saturday 30 August 2014

Algeria eyes $262bn investment; boost for infrastructure

Algeria will launch a new five-year investment plan worth $262 billion to boost domestic production and move its economy away from reliance on oil and gas, the government said. The Opec member north African country has been spending heavily on social programmes and infrastructure


Arabtec ex-CEO eyes $1.3 per share

Hasan Ismaik, the former chief executive of major Dubai construction firm Arabtec, said he was in talks on selling some of his stake to Abu Dhabi's Aabar Investments and wanted over Dh5 ($1.3) per share,  about 4 per cent above the current market price. Arabtec's sha


Dubai Municipality backs smart city event: Tasweek

Tasweek Real Estate Development and Marketing, a provider of comprehensive real estate development solutions for the UAE and the broader Middle East, said Dubai Municipality has backed the ‘Smart Living City - Dubai 2014.’ Dubai Municipality will share will other high


CPC, Qalaa complete Sphinx Glass transaction

Saudi Arabia’s Construction Products Holding Company (CPC) and Qalaa Holdings marked today the completion of their EGP1.3billion ($180 million) transaction on leading Egyptian float glass manufacturer Sphinx Glass. The celebration marked the final conclusion of a transactio


UAE working on new projects in Palestine

The Emirates Red Crescent (ERC) is presently working on a number of development projects worth Dh53 million ($14.4 million) in the occupied Palestinian territories, said a report. These include health, educational, religious and developmental projects, according to Emirati news a


Saudi awards key rail project contract

Saudi Arabia has awarded a contract to China Railway Construction Corporation for the renewal of the freight railway line between Dammam and Riyadh. The SR122.8 million ($32.5 million) deal was signed by Saudi Railways Organization (SRO) president Mohamed Khalid Al-Suwaiket with


Damac ready for release of ‘Akoya Oxygen’ units

Damac, one of Dubai’s leading luxury developers, said it has brought forward the second release of units at its latest master development, Akoya Oxygen, following ‘unprecedented’ customer demand. Akoya Oxygen is a 55 million sq ft community in Dubailand offering


Dubai villa prices decline 4pc

The residential sale prices in Dubai witnessed a drop in the first six weeks of the third quarter with rates falling 4 per cent for villas and 0.6 per cent for apartments, compared to the previous quarter, according to a report. However, the Q3 2014 apartment and single family home (SF


Aerial fit-out for Yas Mall's Geant hypermarket

Geant hypermarket has carried out an aerial fit-out, the largest of its kind in Abu Dhabi, for its new anchor store at Yas Mall, which is scheduled to open in November. Geant began its huge fit-out by installing an air-conditioning system. A helicopter lowered the five units each weigh


Tecom launches 440-villa project in Dubai

Tecom Investments, a diversified conglomerate and a member of Dubai Holding, has launched a new freehold villa community featuring 440 properties close to its DuBiotech business park in Dubai. The 'Villa Lantana,' project has been designed as two gated communities close t

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