Thursday 30 July 2015

New properties check Saudi office market growth

Higher levels of demand for office properties in Riyadh and Jeddah in Saudi Arabia during the first half (H1) of the year were offset by new office completions, leading to stable vacancy rates over the period, a report said. As a result, office rents were also unchanged in the tw


Egypt plans $38m spend on new Assiut road

Egypt is set to invest EGP300 million ($38 million) to implement the first phase of a new road linking the Assiut plateau with the Western Desert and Eastern Desert roads, a report said. The first phase will see the completion of 22 km of the road, connecting the plateau with the


UrbaCon JV wins $466m contract in Qatar

A joint venture of Qatar-based UrbaCon Trading & Contracting has been awarded a QR1.69-billion ($466 million) contract to design and build an urban area in the Ras Bufontas area of Qatar, next to Hamad International Airport (HIA) terminal. The joint venture between UrbaCon an


LP Building Products to enter GCC market

LP Building Products, a leading manufacturer of quality engineered wood building materials, is set to enter the Gulf Cooperation Council (GCC) market. The building products company will be offering a host of products, including LP SolidStart LVL (laminated veneer lumber) con


Bahrain’s Al Hunainiya homes ‘near completion’

A housing project in Al Hunainiya, Bahrain is 98 per cent complete, it was announced yesterday (July 27). Housing Ministry housing projects assistant under-secretary Sami Abdullah Bu Hazza said the project was nearing completion and that distribution of the units would start afte


Technip wins $2.9bn deals to upgrade Egypt refineries

Technip Italy, a world leader in project management for the energy industry, has finalised two joint agreements valued at a total of $2.9 billion with Egypt-based companies for upgrades of two refineries in the North African country. The contract with Egyptian General Petroleum C


Saudi minister to address municipality excellence summit

Regional and international experts on urban planning, infrastructure, the Internet of Things (IoT) and smart city development will meet at a summit in Riyadh, Saudi Arabia, in November. The Municipality Excellence and Expansion Summit will take place on November 25 and 26 in Riya


Geze Powerturn swing door drive wins top awards

The new fully automatic Geze Powerturn swing door drive won the ‘Innovation Prize’ at the recently held 2015 Plus X Award, a leading innovation prize for technology in the categories high quality, design and functionality. In addition, the specialist jury awarded the


Global Sphere signs $204m hospitality deal in Egypt

UAE investment company Global Sphere has signed a Dh750 million ($204.1 million) contract for a new luxury hotel on the northern coast of Egypt. Located in Egypt’s El Alamein area, the 500-room GS International Hotel will be the Gulf’s firm’s first hospitality p


Abu Dhabi real estate market stable in Q2

Abu Dhabi’s real estate market remained stable during the second quarter (Q2) of this year, with performance of most sectors remaining flat, and a slight increase in hospitality performance, said an industry expert. “Following a two year bull-run we are currently goin

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