Saturday 5 September 2015

Dubai developer signs up 'Desert Pele' as ambassador

Dubai-based property developer, The First Group, has signed up Saudi Arabian football legend Majed Abdullah as its new brand ambassador for its operations in the Middle East and North Africa (Mena) region. The former striker for Saudi Arabia and Riyadh’s Al Nassr FC, was fo


Emirates Extrusion to commission 3rd production line

Emirates Extrusion Factory (EEF), a leading aluminium extrusion company in UAE, plans to commission its third extrusion line at its plant in Techno Park, Dubai, which will increase its production capacity by 7,000 metric tonnes (MT) per annum. The company, a subsidiary of Mashari


L&T wins $162m Riyadh Metro contract

Indian engineering and construction firm Larsen & Toubro (L&T) said it has won a contract worth Rs1,070 crore ($162 million) in Saudi Arabia to construct key facilities for Riyadh Metro lines. As per the deal awarded by BACS consortium (Bechtel – Almabani – CC


Dubai's SKAI secures $300m for hotel projects

SKAI, a Dubai-based real estate and hospitality group, has secured a funding of Dh1.1 billion ($300 million) from major banks across the world for the construction of its Viceroy Dubai Palm Jumeirah and Viceroy Dubai Jumeirah Village projects. The syndicated finance package is a


UAE’s real estate markets rattled by oil slump

The sharp decline in oil prices over the past one year has started to impact the UAE real estate market in a big way, with property transaction levels falling across Abu Dhabi, Dubai and Sharjah, said a report. A further reduction in oil prices is also likely once Iran receives the gre


Finding the best office spaces in Dubai, Abu Dhabi

Looking for an office for rent in Abu Dhabi or Dubai can be a tricky feat as there are so many factors one must consider. Important factors include office location, benefits and the ease of setting up of the office itself. There are a number of business parks and office blocks in


Banks to fund 30pc of Deyaar's $817m project

Dubai's Deyaar Development will fund 30 per cent of its $817 million Midtown project through bank loans, the real estate firm's chief executive said on Monday. Midtown will target mid-income residents as Deyaar tries to fill a gap in the market for more affordable housing


Three groups bid for Ibri, Sohar power projects

Three consortiums led by prominent global utilities have submitted proposals for the development of two major Independent Power Projects (IPPs) at Ibri and Sohar in Oman, a report said. The consortiums include Engie (formerly known as GDF Suez), Marubeni Corporation, and Mitsui &


RSA-Talke breaks ground on key chemical facility

RSA-Talke, a joint venture between Dubai-based RSA Logistics and the German group Alfred Talke Logistic Services, has broken ground on its integrated chemicals facility in Jebel Ali Free Zone. The multi-service site is designed for the handling of liquid chemicals, with ISO tank contai


GCC set to attract major construction deals

Massive investment in transforming infrastructure projects across the GCC is attracting some of the world’s biggest names in construction, according to the man behind two of the region’s leading construction events. “More than $193 billion in construction contracts were expe

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