Wednesday 23 April 2014

Qatar tenders mega water reservoirs project

Qatar’s General Electricity and Water Corporation (Kahramaa) has announced the tender for the construction of five primary reservoir and pumping station (PRPS) packages as part of its water security mega reservoirs project. The five separate packages (A – E), cover ma


Dubai plans art museums in Metro stations

Dubai’s Roads and Transport Authority (RTA) has signed an agreement with the Dubai Culture & Arts Authority towards transforming six of the Dubai Metro stations into museums showcasing artistic and cultural works with a project cost of Dh184 million ($50 million). RTA a


Emiratis, Indians top real estate investments in Dubai

Emiratis ranked highest among all investors in Dubai during the first quarter of 2014, in terms of the value of investments, with Indians being the largest number of foreign investors. Investments in Dubai's real estate sector totalled Dh35 billion ($9.53 billion) during the first


Qatar Rail awards major Metro insurance deal

Qatar Railways has awarded one of the largest ever single project tunneling and rail construction insurance policies of the Doha Metro to an six-member consortium of Qatari national insurance companies, led by Qatar Insurance Company (QIC). The consortium includes additional capa


Saudi contract awards slide in Q1 to $10.58bn

The value of contracts awarded in Saudi Arabia during the first quarter of this year fell 19 per cent to SR39.7 billion ($10.58 billion), compared to SR49.1 billion during the same period last year, a report said. The numerous amounts of mega-projects that were witnessed througho


Abu Dhabi office market ‘still stagnating’

Despite the on-going drive for economic diversification in Abu Dhabi, the office market is yet to see any benefit, with weak, but stable demand levels leading to a stagnation in commercial rents, a report said. With mixed availability of commercial space across the Abu Dhabi mark


Khodari Q1 operating profit falls on labour costs

Major Saudi Arabian construction firm Abdullah A M Al-Khodari Sons said on Sunday that its net profit for the first quarter of this year jumped 78 percent on the back of earnings from an auction of plant and machinery. Net profit rose to 32.63 million riyals ($8.7 million) from 1


Arabtec appoints COO for Oil & Gas

Arabtec Holding, a leading UAE-based engineering and construction group, has announced the appointment of Paolo Bigi as chief operating officer, Arabtec international, Oil & Gas. Paolo will be reporting to Arabtec Holding’s managing director and CEO, Hasan Ismaik.


Dubai property deals soar 38pc in Q1

The total amount of real estate transactions in Dubai during the first quarter of the year reached Dh61 billion ($16.6 billion) as against Dh44 billion during the same period of 2013, marking a rise of 38 per cent, a report said. The Dubai Land Department (DLD) stated that a tota


Nakheel awards 2 contracts for Deira Islands

Nakheel, a major Dubai-based developer, has awarded contracts valued at more than Dh47 million ($12.7 million) for design and supervision services on Deira Islands, a report said. AE7 won the Dh28 million contract for design and supervision services including master planning, par

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