Sunday 4 December 2016

Bahrain developer awards key marine works contract

Bahrain Marina Development Company, a wholly-owned subsidiary of the Social Insurance Organization (SIO), has awarded Al Hassanain Contracting Company the contract to execute and complete the marine works for the “Bahrain Marina” project. A mixed-use development, Bahr


Averda expands service portfolio in Oman

Averda, a major environmental solutions provider in region, has expanded its waste management services in Oman with two new contract wins for waste collection and landfilling services in Al Dhakhiliya and Dhofar regions. The services cover a total area of 127,000 sq km, serving 1


GE, banks partner to finance Iraqi projects

GE, Trade Bank of Iraq (TBI) and Standard Chartered Bank (SCB) have signed a financing MoU to accelerate the development of power and infrastructure projects in the country. The MoU also underlines the financial partnerships formed by GE with global and local financial institutio


AFGRE to operate $1.78bn Doha Festival City

Qatar-based Bawabat Al Shamal Real Estate Company (Basrec) has signed up Al Futtaim Group Real Estate as the manager and operator of its ambitious QR6.5-billion ($1.78 billion) Doha Festival City. Set to open its doors in February next year, Doha Festival City celebrates the best


Dubai residential property prices down 5pc

The residential property prices in the rental market in Dubai, UAE, plunged 5.1 per cent year-on-year (y-o-y) in October mainly due to a steep fall in apartment and villa prices compared to the same period last year, said a report. The prices in Dubai rental market fell by 0.8 po


Built assets to deliver $152bn to Qatar's economy

Qatar's built assets, including transport links, residential and commercial property, and productive industrial centres, are likely to contribute $152 billion to the Qatar economy, up 11 per cent over the last two years, said a report. The total contribution from built assets


Egypt to offer prime land for project development

The Egyptian government is set to offer 2,500 acres of land in new cities to real estate developers and also increase the budget of New Urban Communities Authority (Nuca) to E£50 billion ($3.24 billion) in the next fiscal year, said a report. The Egyptian Ministry of Housin


Egyptian firm Petrojet wins Oman gas pipeline deal

Egyptian contractor Petrojet has won a contract from Oman Gas Company (OGC) for construction of a 221-km-long pipeline that will supply natural gas to end-users at the Duqm Special Economic Zone, said a report. The $90-million contract was awarded by OGC, a wholly owned subsidiar


Abu Dhabi opens new 62-km Dubai highway

Abu Dhabi government has opened a new 62-km highway linking the UAE capital to Dubai in line with its 2030 objectives of establishing a complete and connected transportation network for the emirate's residents, said a report. The highway, named the 'Sheikh Mohammed bin Ra


Nshama awards $816m Dubai project deals

Nshama, a private developer of integrated lifestyle communities, has awarded Dh3 billion ($816 million) construction contracts for eight residential projects and all requisite infrastructure at its trendy lifestyle project Town Square in Dubai, UAE. With more than 5,000 workers o

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