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Qatar Rail awards major Metro insurance dealQatar 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 More… |
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Saudi contract awards slide in Q1 to $10.58bnThe 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 More… |
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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 More… |
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Khodari Q1 operating profit falls on labour costsMajor 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 More… |
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Arabtec appoints COO for Oil & GasArabtec 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. More… |
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Dubai property deals soar 38pc in Q1The 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 More… |
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Nakheel awards 2 contracts for Deira IslandsNakheel, 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 More… |
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Abu Dhabi mortgage firms see positive investor outlookChanging regulations, the removal of rental price caps, and the rising demand are all responsible for Abu Dhabi’s residential rental yields, said an industry expert, adding that lenders were set to benefit from the positive investor sentiment. Christopher Taylor, CEO of Abu More… |
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Bahrain gets ready for 3Gs trio of exposCurtains are set to rise early next month on the landmark 3Gs trio of expos in Bahrain -- GulfBID, Gulf Property Show and GulfInteriors 2014 – the leading industry-shaping exhibitions in the kingdom. A remarkable line-up of participants at GulfBID 2014 will anchor a dazzlin More… |
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GCC construction facing 500,000 manpower gapThe GCC’s construction and real estate sectors are facing a combined manpower shortfall of up to 500,000 heading into 2015, a report said, adding that building and construction project management skills are most lacking among senior levels. Real estate project financing, pr More… |
