Wednesday 29 July 2015

China investment in Dubai property tops $354m

Chinese investors pumped in more than CNY2.2 billion ($354 million) last year in Dubai’s property market, marking a rise of nearly 300 per cent compared to a year earlier, said the organisers of an investment programme in China. More than 7,000 sales consultants and 1,200 i


Abu Dhabi seeks bids to develop beach project

Abu Dhabi City Municipality has invited developers to build and operate a partially developed beach project in the UAE capital. The project, located on an island in the residential neighbourhood of Al Bateen, comprises three main zones – the ladies beach, public beach and waterfr


Oman’s solar drive draws German interest

Oman’s plans to set up the world’s largest solar plant at its Amal field has prompted interest from Solarlite CSP Technology, a report said. Dr Joachim Kruger, managing director at Solarlite, recently visited Muscat to highlight the benefits of direct steam generation


Egypt to speed up shipping with new Suez waterway

Egypt plans to allow smaller vessels in the Mediterranean direct access to East Port Said around the clock instead of just eight hours a day by building a side channel near the Suez Canal, which will speed up shipping movements in the area. Klaus Holm Laursen, managing director o


Kuwait awards $11.5bn contracts for Al Zour refinery

State-run Kuwait National Petroleum Company (KNPC) has awarded KD3.48 billion ($11.5 billion) worth of contracts to build its planned Al Zour refinery, Kuwaiti state news agency Kuna reported.   KNPC commissioned a consortium including Spain's Tecni


UTC’s Dubai office wins Leed Gold certification

UTC Building & Industrial Systems’ Middle East and Turkey regional headquarters in Dubai, UAE has achieved US Green Building Council Leed (Leadership in Energy and Environmental Design) Gold certification, making it the organisation’s fourth Leed-certified office.


Al Sorayai wins 2 deals to carpet UAE mosques

Al Sorayai Group (ASG), a leader in flooring and furnishings, has signed two agreements to supply mosques across the UAE with grade-A carpet, valued at SR12.3 million ($3.2 million).  The agreements were signed after Al Sorayai Group had won two bids launched by Al Arabia an


Dubai land transactions hit $35bn in H1

Dubai Land Department (DLD) recorded a total of 23,000 property transactions valued at Dh129 billion ($35 billion) in the UAE emirate during the first half (H1) of the year, said a report. According to the report issued by Real Estate Research and Studies Department, sales accoun


DP World begins work on $1.6bn new Dubai terminal

DP World, the Dubai-based global shipping terminal operator, has launched construction work on a brand new $1.6-billion container terminal at Jebel Ali Port, Dubai, UAE. Phase One of the Container Terminal Four (T4) project will deliver new capacity of 3.1 million TEU (twenty-foo


Dubai realtor S&K blames weak market for bankruptcy

Dubai-based real estate agency S&K Estate Agents said a deteriorating property market in the UAE emirate contributed to its decision to file for bankruptcy and be liquidated. "Simply put, the revenue being generated by the business drastically reduced over the first half

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