Tuesday 26 July 2016

Deyaar's Q2 net profit falls 17.8pc

Dubai's Deyaar Development reported a 17.8 per cent fall in second-quarter net profit on Wednesday. The company made a profit of Dh60.3 million ($16.4 million) in the three months to June 30, it said in an earnings' statement. This compares with a profit of Dh73.4 million


Aldar awards Abu Dhabi community project contracts

Aldar Properties, a leading real estate developer in Abu Dhabi, UAE, has awarded Dh440 million ($120 million) contracts to National Projects and Construction for Nareel Island, its master planned island community, and for Al Merief, the distinctive community in Khalifa City. Set


Arcadis to design Sharjah’s hitech mall

Arcadis, a leading global design and consultancy firm for natural and built assets, has been signed up as the lead consultant and designer for Tilal Mall, an upscale retail destination which will be built at the heart of Sharjah’s hitech model city, Tilal City. The Dh2.4 bi


Saudi Aramco awards contracts for $13bn gas project

State oil giant Saudi Aramco signed four engineering contracts to build its Fadhili gas processing project, the company announced at a press conference on Wednesday. Saudi Aramco president and CEO Amin H Nasser today presided over a signing ceremony, marking a new milestone in the comp


GCC building exterior market to hit $12bn

Spending on building exteriors in the GCC will increase from $8 billion this year to $12 billion in 2024, according to a new regional market study. Accounting for 41.8 per cent of the overall façades market last year, the building exteriors market in Saudi Arabia is estima


Hill seals Kuwait hospital project management deal

Hill International, a global leader in managing construction risk, said it has won a contract from Health Assurance Hospitals Company (Dhaman) to manage the construction of two new hospitals in Kuwait. Dhaman was established as a public-private partnership as part of Kuwait's Natio


Event to showcase latest in smart cities, transportation

The latest in smart cities and transportation technologies will be showcased at a major exhibition in Abu Dhabi, UAE, in October. Natrans Expo 2016 will be held on October 25 and 26 at the Abu Dhabi National Exhibition Centre (Adnec) under the patronage of Dr Abdullah Belhaif Al


Saudi Arabian residential market softens in Q1

The residential market in Riyadh and Jeddah softened over the first quarter with the sales and rental rates predominantly reporting marginal decreases both through quarter-on-quarter and year-on-year indicators across the villa and apartment segments, said a report. The lease rat


Brexit could boost Chinese investment in Dubai real estate

Dubai, UAE has a huge opportunity to boost growing real estate investment from Chinese investors in the wake of Britain’s decision to leave the EU, according to China’s top international property website. Uncertainty in Europe following the Brexit vote could attract a


Saudi Electricity Company Q2 profit plunges 28pc

Saudi Electricity Company (SEC), the largest utility firm in the Gulf region, has reported a 27.7 per cent decline in the second-quarter net profit over the same period last year. The company, which the government is aiming to restructure to improve efficiency, made a net profit

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