Wednesday 24 January 2018

UAE to open 'Founder’s Memorial' next week

The UAE government will next week open 'The Founder’s Memorial' which commemorates the country's founding father Sheikh Zayed bin Sultan Al Nahyan’s life, legacy, and values and enables people to feel more deeply connected to him. Under the directives of t


Masdar in deal to develop major wind power project in Egypt

Abu Dhabi Future Energy Company (Masdar) has signed a collaboration agreement to deliver a wind power portfolio of more than 800 megawatts (MW) in Egypt alongside Elsewedy Electric and Marubeni Corporation.    The signing took place in the presence of Wael


RTA to open bridge at Dubai Airport intersection

Dubai's Roads and Transport Authority (RTA) is set to open tomorrow (January 19) the new bridge at the intersection of Airport-Casablanca streets, nearby the Cargo Village building. This one-lane bridge will help serve the traffic from the Airport Street in the direction of C


Oman seeks consultants for first waste-to-energy project

Oman Power and Water Procurement Company (OPWP) has floated a tender seeking bids from consultancy firms to provide a techno-economic feasibility study for building the country’s first waste-to-energy (WTE) project, said a report. The project, which is aimed at boosting the


HLG wins Uptown Dubai raft foundation contract

DMCC, the world’s leading Free Zone for trade and enterprise, master developer of Jumeirah Lakes Towers (JLT) and the much anticipated Uptown Dubai, said it has signed up Dubai-based contractor HLG to build the concrete raft foundation for one of two super-tall towers coming up in the pre


Saudi Arabia plans to build 60 new schools

Saudi government has invited tenders from leading regional and global companies for construction and maintenance of 60 schools of different ranges - starting from kindergartens to secondary schools - in the Jeddah and Makkah regions of the kingdom, said a report. The selection pr


Masdar, Daewoo partner to develop desal tech

Masdar, Abu Dhabi’s renewable energy company has signed a strategic agreement with Daewoo Engineering & Construction to support the commercialisation of low-energy reverse osmosis (RO) seawater desalination plants in Mena and Asia. The agreement was signed by Hyo Joon J


Drake & Scull gets FTSE Russell index upgrade

Drake & Scull International (DSI), a regional market leader in engineering and construction services, has announced that the foreign ownership limit (FOL) used to calculate its free float weight on the FTSE Russell Index has been increased to 39 per cent following a positive December 2017 r


Deyaar's revenue surges 75pc in 2017

Deyaar Development, one of Dubai’s leading real estate service providers, has reported revenues of Dh751.6 million ($205 million) for 2017, up 75 per cent over Dh428.3 million the previous year. Announcing its preliminary unaudited financial results for the full year ended


Saudi Al Rajhi REIT fund raises $197m in IPO

Al Rajhi Capital, one of the leading providers of financial services in Saudi Arabia, said it had successfully closed the initial public offering (IPO) of its REIT (real estate investment trust) fund raising SR740 million ($197.2 million). Apart from being the first REIT IPO in 2

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