Friday 11 July 2014

Dubai property slowdown continues in Q2

The residential sales performance in Dubai saw a continued slowdown in the second quarter of the year, with only a marginal growth of six per cent and three per cent for apartments and villas respectively, according to an Asteco report.   The latest Asteco marke


Saudi invites bids for $16.5bn Makkah metro project

Saudi Arabia has invited bids for the $16.5 billion Makkah Metro project, which involves construction of 88 train stations, including 22 underground depots, which will be fully operational in 2020 A total of 10 consortiums are vying for the first phase of the project involving ci


Drake inks India wastewater plant contract

Drake & Scull International (DSI) said its German subsidiary Passavant Energy & Environment has won two contracts worth Dh 103 million ($28 million) for the construction and operation of two wastewater treatment plants in India. The winning of the new contracts for Amrits


Limitless' Russian project clinches key award

Dubai-based Limitless said its joint venture community project in Russia, Zagorodny Kvartal, has been crowned “Best Low Rise Development in Moscow” at the 2014 Real Estate Market Records Awards. A joint venture between Dubai’s Limitless and Moscow’s RDI, Z


Galfar wins major Oman road contract

Oman's Galfar Engineering has won a 40.48 million rial ($105.14 million) road building contract in the country's Dhofar region, the company said in a bourse statement on Sunday. Galfar Engineering stocks rose 1.2 per cent after the contract win annoucnement. The


Major sanitary project completed in Bahrain

Bahrain’s Ministry of Works has completed the implementation of the sewerage network in Block 711 in Tubli, said a senior executive.   The ministry’s Sanitary Engineering Planning and Projects director Asma Murad revealed that the BD2.9 million ($7.8


Saudi's Emaar EC port unit agrees $1.4bn capital hike

Emaar Economic City said on Sunday shareholders of its Port Development Company subsidiary agreed to an increase in capital to 5.21 billion riyals ($1.39 billion) to help finance the expansion of the kingdom's first privately-owned port. Shareholders agreed the capital increa


RTA completes $109m internal road works

The Dubai Roads and Transport Authority (RTA) said it has completed the construction of internal roads stretching 193 km in nine residential communities built at a cost of Dh400 million ($109 million). The areas of work include Hatta, Al Quoz 2, 3 & 4, Khawaneej 1, and Barsha


UAE group inks Etihad Rail contract

Abu Dhabi-based Western Bainoona Group (WBG), a leading producer and seller of quarry products, has signed a deal with Etihad Rail, the developer and operator of the UAE’s national railway network, to utilise its services for its construction projects. As per the MoU, WBG w


Tarmac Mideast seals key Etihad Rail contract

Tarmac Middle East, one of the largest and leading suppliers of aggregates and asphalt in the region, has signed a deal with Etihad Rail, the developer and operator of the UAE’s national railway. As per the MoU, Tarmac Middle East will utilize Etihad Rail operations for the

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