Friday 4 September 2015

No plan to extend summer work ban in Bahrain

A senior government official has dismissed calls to extend the summer work ban, claiming it could affect firms already suffering from financial difficulties. Labourers were not allowed to work outdoors between noon and 4pm in July and August, but unionists have been calling to extend the nati


DuBiotech, EnPark record 20pc growth

The number of new business partners based in Dubai Biotechnology and Research Park (DuBiotech) and the Energy and Environment Park (EnPark) rose a combined 20 per cent in the year to July, underlining the Tecom Investment Free Zones’ (IFZ) popularity as a regional springboard for business


US real estate group targets ME investors

Real estate investment and development firm Capital Assured said it has signed an agreement with One Sotheby's International Realty to bring Ritz-Carlton's new, ultra-luxury Residences in Miami Beach, Florida, exclusively to buyers in the Middle East. Capital Assured is h


Nshama unveils new residential project in Dubai

Nshama, a private developer of integrated lifestyle communities, has unveiled Jenna, the first residential apartments to be developed at its trendy lifestyle project Town Square in Dubai, UAE. Town Square is located in New Dubai in close proximity to Arabian Ranches Golf Course, Dubai


Iranians likely to be big buyers of Dubai property

Iranians are likely to become major buyers of Dubai property again if sanctions against the Islamic Republic are lifted, providing a much-needed fillip to the emirate's real estate sector, consultants Cluttons said. Dubai property prices have fallen slightly this year, ending


Dubai developer signs up 'Desert Pele' as ambassador

Dubai-based property developer, The First Group, has signed up Saudi Arabian football legend Majed Abdullah as its new brand ambassador for its operations in the Middle East and North Africa (Mena) region. The former striker for Saudi Arabia and Riyadh’s Al Nassr FC, was fo


Emirates Extrusion to commission 3rd production line

Emirates Extrusion Factory (EEF), a leading aluminium extrusion company in UAE, plans to commission its third extrusion line at its plant in Techno Park, Dubai, which will increase its production capacity by 7,000 metric tonnes (MT) per annum. The company, a subsidiary of Mashari


L&T wins $162m Riyadh Metro contract

Indian engineering and construction firm Larsen & Toubro (L&T) said it has won a contract worth Rs1,070 crore ($162 million) in Saudi Arabia to construct key facilities for Riyadh Metro lines. As per the deal awarded by BACS consortium (Bechtel – Almabani – CC


Dubai's SKAI secures $300m for hotel projects

SKAI, a Dubai-based real estate and hospitality group, has secured a funding of Dh1.1 billion ($300 million) from major banks across the world for the construction of its Viceroy Dubai Palm Jumeirah and Viceroy Dubai Jumeirah Village projects. The syndicated finance package is a


UAE’s real estate markets rattled by oil slump

The sharp decline in oil prices over the past one year has started to impact the UAE real estate market in a big way, with property transaction levels falling across Abu Dhabi, Dubai and Sharjah, said a report. A further reduction in oil prices is also likely once Iran receives the gre

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