Monday 25 October 2021

Saudi contracting firm Al Arabia sets new IPO price range

Saudi-based Arabian Contracting Services Company and GIB Capital, a leading investment bank in the Gulf region, have set the final offer price for its IPO at SR100 ($27) per share, with the coverage amounting to 126.6 times the volume of offered shares.   


Saudi Arabian Amiantit Company names new CEO

Saudi Arabian Amiantit Company, a leading manufacturer of construction materials and pipe systems, has announced that Osama Jasim Al Onaize will be its new chief executive officer effective November 1.   This move comes following the resignation of Solaiman Abdu


TAQA, Marubeni to develop power and water project for Aramco

Abu Dhabi National Energy Company (TAQA), one of the largest listed integrated utility companies in the EMEA region, along with Marubeni Corporation, announced today a partnership to develop a greenfield cogeneration power and water desalination project in Saudi Arabia with the world’s


UL opens new cables fire safety laboratory in Abu Dhabi

UL, a global safety science leader, has opened a cables fire safety and performance laboratory to help wire and cable customers meet regulatory standards and destination market regulatory compliance.    One of the first of its kind in the Middle East, the f


Top French group Altrad acquires RMD Kwikform

Interserve Group, a leader in the provision of construction, equipment and probation services, has announced the sale of RMD Kwikform (RMDK), its global equipment services business to leading European group Altrad.   Headquartered in France, Altrad


Riyadh, Jeddah witness strong demand for Grade A office space

There has been a strong demand for grade A floor space in the key real estate markets of Saudi Arabia including the capital Riyadh and Jeddah from the government and banking sectors, with large floor spaces in northern Riyadh broadly being targeted, according to JLL, a leading player in the r


Ewec invites bids for key RO water project in Abu Dhabi

Emirates Water and Electricity Company (Ewec), a leading company in the integrated coordination of planning, purchasing and supplying of water and electricity across the UAE, has invited expressions of interest for the development of the Shuweihat S4 Reverse Osmosis (RO) water project in Abu


Investcorp announces first European real estate exit

Investcorp, a leading global provider and manager of alternative investment products, has announced that it has sold its long leasehold interest in Bürocampus Wangen (the Campus) in Stuttgart, Germany to Art-Invest Real Estate.    This transaction mark


Intelligent building technologies forum held in Dubai

The advances in communications technology and sustainability and their applications in intelligent buildings were discussed at the ‘PowerWise Technology Forum’ on October 19, at Fairmont Dubai.   Superior Essex Communications, a leading manufacturer


Bahrain to kick off metro project; RFQ in November

Bahrain Government has approved the start of Phase One Bahrain Metro Project and decided to proceed to the tender stage.    This follows a market consultation event held in March earlier this year which received highly positive response from the

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