Sunday 7 February 2016

UAE residential property prices down in December

The residential property sales price across the major UAE markets of Dubai and Abu Dhabi fell in December with both the apartment and villa rentals plunging on a month-on-month (m-o-m) basis, according to Reidin, a real estate information company focusing on emerging markets. On


Jabal Omar in talks with lenders after missing $173m payment

Saudi Arabia's Jabal Omar Development Company is in talks with creditors after failing to make the first repayment, worth SR650 million ($173.29 million), on a SR3 billion state loan on January 1, the property firm said on Sunday. In a bourse filing, the company said its sust


Alstom inks Iran infrastructure project deal

Alstom, a leader in power generation and rail infrastructure, has signed a MoU with the Iranian government for the development of mainline and urban transport in the country. The agreement with Iran's Industrial Development & Renovation Organization (Idro) is in line with


UAE's mixed-use project welcomes first tenants

Al Forsan Real Estate, a leading UAE-based developer, has welcomed the first group of tenants to its health focused mixed-use development ‘Al Forsan Village’ in the capital Abu Dhabi. Located in the heart of Khalifa City, the project has 385 villas that are for


Phoenix to build solar power farm in Egypt

Lebanese group Phoenix Energy, has won a contract from the Egyptian government to build a big solar power farm near Luxor and Aswan region in the country. Under the contract, the company will be installing around 200,000 solar panels on a land area of 1.1 million sq m to produce


New portal targets Dubai, India investors

Dubai-based Riveria Global Group has announced the launch of a comprehensive new property portal - - aimed at helping expats invest in the highly lucrative markets of Dubai and India. The site has specifically been created for investors and proposes various options cu


Oman's Duqm project set for expansion

The Oman government has expanded the total area of the Special Economic Zone at Duqm region to 2,000 sq km from the previous 1,745 sq km to help accommodate oil storage activities at the Ras Markaz area of the sultanate, said a report. The move comes following a royal decree desi


RTA awards Dubai road revamp contracts

Dubai's Roads and Transport Authority (RTA) said it has awarded a Dh191-million ($52 million) contract for the construction of roads at Al Awir and for improvement of entrances to the International City (First Stage) Project.   The proposal for the construction of a seri

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