Private developers, holiday home operators and sections of the hospitality industry in Dubai are expanding free accommodation offers to stranded passengers as flight cancellations and regional airspace closures continue to disrupt travel across the Gulf.
The King Salman International Airport in Riyadh has shortlisted three international contractor teams - UCC with Consolidated Contractors; Webuild with Al Gihaz and TAV and PowerChina with MBL Infrastructure - for ECI work on Terminal 6 as part of the $30 billion airport development programme.
The northern emirate of Ajman has issued a decree abolishing the previous legislation related to judicial fees for rental disputes in Ajman, while allowing certain provisions to remain in effect until new regulations, bylaws and decisions are issued to replace them.
JLG Industries, a world-leading designer, manufacturer and marketer of mobile elevating work platforms (MEWPs) as well as leading brands such as JLG and SkyTrak telehandlers and rotary telehandlers, has announced the opening of its new regional inventory and distribution facility in Dubai.
The UAE’s real estate market is one of the Gulf’s most resilient markets and is able to absorb geopolitical shocks thanks to its diversified investment base and openness to global capital flows, according to an expert.
New Murabba Development Company, a wholly-owned subsidiary of Saudi Arabia's sovereign wealth fund PIF, has signed a strategic agreement with Electric Vehicle Infrastructure Company (Eviq) for deployment of EV charging infrastructure across key assets within its giga project - New Murabba.
Saudi-based Misk Foundation has appointed Eng. Sami bin Jasser Al Jasser, a strategic development expert, as the new Chief Executive Officer of its mega Mohammed bin Salman Nonprofit City (Misk City) - a first-of-its-kind project coming up on a 3.4-sq-km area in capital Riyadh.
Senior government authorities have announced that a fire that broke out this morning in the Fujairah Oil Industry Zone (FOIZ), resulting from falling debris after a Iranian drone attack, has been fully brought under control. No injuries were reported and normal operations have begun, said a report.
The gravity of the situation in the Middle East has moved from high to severe and consequently, the potential for events to weaken credit quality across sectors has increased, says an S&P Global Ratings report.
The Saudi Ports Authority (Mawani) has announced that it has signed a lease agreement with Sultan Logistics, a leading player in the kingdom's freight sector, for the development of a 200,000-sq-m logistics park at Jeddah Islamic Port for a total investment of SAR250 million ($66.5 million).
