Thursday 4 June 2020

Heart of Europe takes shape as region's key island destination

The Heart of Europe – the $5 billion master-planned leisure tourism island destination developed by Kleindienst Group – is coming to life with construction progressing fast to deliver the experiential luxury and touristic destination in the Middle East later this year.


Saudi Arabia readies major housing plans for expat workers

Saudi authorities have finalised plans for the implementation of housing projects for thousands of expatriate workers in Madinah as part of the kingdom's efforts to overcome the issue of overcrowding in the labour accommodations, said a report.   In April, M


Aldar registers growth in Q1 revenue, net profit

Aldar Properties, a leading developer based in Abu Dhabi, said it has reported a revenue of Dh1.76 billion ($479 million) in the first quarter of 2020, unchanged from the same period a year ago, demonstrating the fundamental strength of its diversified Development Management and Asset Managem


UAE rental relocations on the rise despite Covid-19, says expert

There has been a spurt in the rental relocations in Dubai and Sharjah despite Covid-19 mainly fueled by tenants  looking to reduce their rental obligations by moving into less expensive localities or those looking for larger units with balconies and outdoor spaces amid lockdown, said UAE


Dubai unveils remote property registration

Dubai Land Department (DLD) has introduced a new registration system for real estate transactions, which allows real estate owners to complete sales transactions for their properties remotely from anywhere in the world. The new system allows them to complete procedures and transa


Lamprell wins key EPIC contract in Sharjah

UAE-based Lamprell has been selected by Sharjah National Oil Corporation (SNOC) to undertake a medium-sized engineering, procurement, installation and commissioning (EPIC) contract associated with the Mahani gas and condensate field in Sharjah. Scheduled for completion in early 2


Madayn signs Marmul industrial city deal with PDO

The Public Establishment for Industrial Estates (Madayn) has signed a memorandum of cooperation with Petroleum Development Oman (PDO) to establish an industrial city within the industrial and logistics complex in Marmul.    Through the agreement that was si


ICD net profit jumps 17pc to $6.81bn in 2019

Investment Corporation of Dubai (ICD) the principal investment arm of the state government with major interests in finance, real estate, construction, utilities, energy, transportation, industrial and leisure sectors, has reported a net profit of of Dh25 billion ($6.81 billion) for FY 2019, u


Oman's NBC signs incubation pact with True Build

The National Business Centre (NBC), which is linked to the Public Establishment for Industrial Estates – Madayn, signed an incubation agreement with True Build Technologies Company, which is an Omani company specialised in building and construction, oil and gas related services, as well


Empower completes over 320km district cooling networks in 2019

Emirates Central Cooling Systems Corporation (Empower) said the total length of its district cooling pipeline network in various regions of Dubai surged to more than 320 km last year, up 16 per cent compared to the year before.   The new areas of operation inclu

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