Friday 18 April 2014

Qatar to spend $182bn on new projects

Qatar plans to invest around QR664 billion ($182.3 billion) in infrastructure, excluding projects in oil and gas sector, in the next five years, Sheikh Ahmed bin Jassim Al Thani, the Minister of Economy and Trade, was quoted as saying. In view of the massive projects planned the


Arabtec AGM to discuss dividend, projects

Arabtec Holding, a leading engineering group, will hold its Annual General Meeting (AGM) in Abu Dhabi on April 30, where it will review the proposed distribution of 40 per cent dividends, 10 per cent in cash and 30 per cent in bonus shares. The meeting at the St Regis Hotel will


Nakheel invites bids for ‘The Boardwalk’

Dubai-based property developer Nakheel has invited bids for a new attraction that will extend along the entire length of the outer breakwater of Palm Jumeirah’s Crescent.   'The Boardwalk' will be a six-metre wide, 11-km long pedestrian pathway des


Saudi plans $3bn waste recycling project

The Saudi government has signed a memorandum of understanding (MoU) with a national company to establish a project to recycle waste, a report said. The project is expected to cost SR12 billion ($3.12 billion), the Arab News report said quoting local media. The recy


Projects boom in GCC; $40bn deals in Q1

The projects markets of the Middle East are set to enjoy a record-breaking year in 2014 with more than $40 billion worth of new contracts awarded in the GCC alone in the first quarter, a report said. New contract awards in the GCC will approach $150 billion in the year ending 201


Riyadh metro project work kicks off

Saudi Arabia has begun construction work on its long awaited first metro rail system in Riyadh. The multi-billion project will involve six rail lines extending 176 km and carrying electric, driverless trains, in what Saudi officials project to be the world's largest public tr


Egypt's TMG to distribute first cash dividend

Egyptian property developer Talaat Moustafa Group (TMG) will distribute a cash dividend of around 0.145 Egyptian pound ($0.02) after profits grew in 2013, the company said on Tuesday.   The payment, TMG's first cash dividend since it was formed in 2007, will


Sharjah rents up 7pc as Dubai residents relocate

Sharjah’s rent rates have increased seven per cent on average this quarter as Dubai residents look to relocate to more affordable accommodation, said a report.   The Q1 2014 Northern Emirates report from Asteco, a leading real estate services company, poin


Abu Dhabi's real estate 'shows signs of maturity'

With all sectors of the Abu Dhabi property market gaining momentum in making a healthy recovery, industry experts say the real estate sector shows strong signs of maturity, as the emirate looks towards achieving its 2030 vision. The sustainability of such momentum is still, howev


Oman extends ban on expat workers

Oman has extended a ban on employing expatriate construction workers and housekeeping staff in the sultanate's private sector by another six months, a report said. The six-month ban was due to expire on May 1, the Times of Oman report said. The report quoted a

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