Thursday 30 March 2023

Roshn awards $2.1bn Saudi infrastructure project contracts

Roshn, a leading Saudi community developer powered by the kingdom's sovereign wealth fund PIF (Public Investment Fund), has signed agreements worth SR8 billion ($2.1 billion) with top construction firms for the development of modern infrastructure and facilities across the several project


Farnek launches solution to cut hotel sector emissions

UAE-based smart and green facilities management company Farnek has launched a new online remote digital platform called PowerTek,  developed by in-house experts at its innovative digital solutions sister company HITEK. The comprehensive and data-driven energy performance mon


AD Ports in 30-year agreement to build Egyptian port

AD Ports Group, the leading facilitator of global trade, logistics, and industry, said it has signed a 30-year concession agreement with the Red Sea Ports Authority to develop and operate a multi-purpose port in Safaga in Egypt.   As per the deal, the Abu Dhabi


Emaar Properties' board approves $598m cash dividends for 2022

Leading UAE developer Emaar Properties has announced that its board has approved the distribution of cash dividends worth AED2.2 billion ($598 million) to its shareholders for FY 2022.   In a disclosure to Dubai Financial Market (DFM), the company said the propo


Eshraq Investments sells all 58 apartments in Burj Daman for $44m

Eshraq Investments (Eshraq) has announced that it has entered into an agreement for the sale of all the 58 apartments it owns in Burj Daman-DIFC-Dubai for a total sale consideration of AED162 million ($44 million).   The transactions are a continuation of the co


Binghatti completes work on key Dubai project ahead of schedule

Binghatti, a leading real estate developer in Dubai, has announced that work has been completed on its prime project, Binghatti Creek, located in Al Jaddaf area within the Dubai Healthcare City, much ahead of its deadline, which was scheduled for the end of this year.  


UAE consumer spending increases by 19% in 2022, says report

Majid Al Futtaim, a leading shopping mall, communities, retail and leisure pioneer across the Middle East, Africa and Asia, in its latest report has revealed that the overall consumer spending in the UAE was up 19% in 2022 compared to the previous year.   There


Damac awards main works contract for 120-villa Maldives resort

Damac Group, under its property development arm Damac Properties, has awarded the main works contract worth AED 544 million ($148.2 million) to Aima Construction Company Private Limited for 120 villas at its recently announced Mandarin Oriental Bolidhuffaru Reef resort in the Maldives.


LEOS unveils first luxury residential development in Jumeirah

LEOS International, a leading luxury property developer with presence in UK and Middle East, has announced the launch of Hadley Heights, its first premium residential property development featuring 216 apartments in Jumeirah Village Circle, Dubai.   Hadley Heigh


AD Ports Group launches new digital district at Zayed Port

AD Ports Group, a leading facilitator of trade, logistics, and industry in Abu Dhabi, has announced the opening of its digital district – a new commercial hub in Zayed Port dedicated to Abu Dhabi’s digital trade and logistics services.   The Digital

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