Saturday 15 May 2021

Enabling works begin at Al Hafa waterfront project in Oman

Muscat National Development & Investment Company (Asaas) has announced the launch of enabling works for its Al Hafa waterfront project in Salalah, one of the most important landmarks of the Dhofar Governorate and one of the country's leading tourist attractions.  


GFH's Q1 profit grows three-fold, net income hits $90.3m

GFH Group, a leading regional financial group with major interests in asset management and real estate, has reported a net profit attributable to shareholders of $16.12 million for the first quarter compared with $5.08 million last year, up 217.2%.    Annou


Adnoc awards Abu Dhabi island runway project work

Adnoc Offshore (previously Zakum Field Development Company) has signed up Al Geemi and Partners Contracting Company for the development of an airport runway strip integrity project at Zirku Island, within the maritime territories of Abu Dhabi.   With the front-e


Hempel to buy luxury decorative paint brand Farrow & Ball

World-leading coatings manufacturer Hempel said it has reached an agreement with Ares Management Corporation, a leading global alternative investment manager, to acquire Farrow & Ball, a luxury decorative paint and wallpaper company with an annual turnover of over euro 100 million, from o


Khansaheb unit lands One Za’abeel fit-out contract

Leading Dubai contractor Khansaheb said its interiors unit has been awarded a 5,500-sq-m high-end fit-out contract for The Link, one of the world’s longest cantilevered buildings at One Za’abeel, a mixed-use luxury project being developed by Ithraa Dubai.  


Work on major Saudi mixed-use district to begin in August

Construction work is likely to start this August on the Knowledge Economic City (KEC) Hub, a 392,000-sq-m mixed-use district in Madinah, Saudi Arabia, that will form the retail, leisure and hospitality core of the KEC masterplan, according to its designer Chapman Taylor.  &n


Aldar Properties posts 80pc growth in Q1 net profit

Leading Abu Dhabi developer Aldar Properties has reported a net profit of AED544 million ($148 million) for the first quarter, up 80 per cent YoY.   Its revenue too rose 16% YoY to AED2 billion ($544 million), driven by a strong increase in property development


Emaar nets $1.9bn in robust Q1 property sales, revenue up 12pc

Leading Dubai developer Emaar Properties has achieved significant increased property sales for the first quarter which surged by 83 per cent to hit AED7.115 billion ($1.94 billion) compared to AED3.887 billion ($1.06 billion) last year. The property sales were even higher than Q1 2019 by 6%.


Saudi Arabia records real 4% GDP growth in Q1

Saudi Arabia’s seasonally adjusted real gross domestic product (GDP) of non-oil activities and government service activities recorded a positive growth of 4% in the first quarter (Q1) of 2021, compared to Q4 2020. Meanwhile, the year-on-year change of non-oil activities rea


Bahrain Car Parks seals Scheidt & Bachmann agreement

Bahrain Car Parks Company, a key player in the parking management and property leasing sector, has signed an exclusive distribution agreement with the regional arm of Scheidt & Bachmann Group, a global leader in innovative parking solutions worldwide.   

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