Thursday 19 January 2017

Dubai's residential rental rates down in Q4

The residential sector in Dubai, UAE, experienced further modest declines in rentals during the fourth quarter of 2016, with a one per cent dip in average leasing rates recorded, according to the Dubai Annual Market Update Report by global real estate advisor, CBRE. During 2016,


Dubai waterfront projects driving yacht, boat sales

Major waterfront projects in Dubai turning the UAE into the next global leisure marine destination can drive super yacht and boat sales in the Middle East, said the event organisers of the upcoming Dubai International Boat Show. The 25th edition of the event running from February


Dubai to start work on $13.6bn solar park Phase 3

The Dubai Electricity and Water Authority (Dewa) and Abu Dhabi’s renewable energy company Masdar will begin construction of the 800-megawatt (MW) Phase Three of the Dh 50-billion ($13.6 billion) Mohammed bin Rashid Al Maktoum Solar Park in Dubai, UAE, at the end of this month following th


Savills partners with Bahraini real estate brokerage

UK-based property firm Savills has signed an exclusive strategic partnership agreement with an award-winning Bahraini real estate brokerage Evolve Real Estate. As per the deal, Evolve will provide its key real estate agency services with Savills Northern Gulf (Bahrain Office), fu


Al Rawahi wins contract to build Sohar Flour Mills

Al Rawahi International, a leading Omani contractor, has been awarded the structural and architectural and external civil and infrastructural works for an upcoming flour mill in Sohar Port, said a report. The civil construction contract was awarded by Sohar Flour Mills, a partner


Kuwait to spend $15.6bn on infrastructure in 2017-18

Kuwait is set to spend about KD4.74 billion ($15.6 billion) on infrastructure and other projects in fiscal year 2017-2018 with the private sector contributing 16.9 per cent of the spend, said a report in a local daily. The projects cover housing, roads, electricity, ports, airpor


UAE elevators market to grow 8pc till 2021

The UAE elevators market is projected to grow at a CAGR (compound annual growth rate) of eight per cent till 2021, said a report. Growing disposable income and the booming construction market coupled with favourable government initiatives is set to drive the demand for elevators


Bechtel launches Saudi graduate recruitment programme

Bechtel, a global leader in engineering, procurement and construction, has launched a major new graduate recruitment programme with the Riyadh College of Technology (RCT) in Saudi Arabia. Through the joint initiative, Bechtel will train and subsequently hire 75 RCT students who a


Sabic launches dedicated foam grade for MEA

Leading petrochemicals producer Saudi Basic Industries Corporation (Sabic) has launched a new dedicated foam grade - LDPE HP0824NDF - for the Middle East and Africa (MEA) and Asian region to broaden the application window for the tapes, seals and underlayment market. Sabic LDPE H


Talks under way for Bahrain port expansion

Discussions are under way on expanding Bahrain’s biggest commercial port in the next decade to meet an influx in demand for services, reported the Gulf Daily News, our sister publication. To read further, please visit

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