• Arabtec says to go ahead with its liquidation plan


    Dubai-based contractor Arabtec Holding said it will go ahead with the plans to file application for liquidation owing to its untenable financial position due to Covid. The company had in September won approval from its shareholders in this regard.

  • Diyar Al Muharraq projects on track despite Covid setbacks


    Leading Bahraini developer Diyar Al Muharraq said the construction activities on all its projects were going on as per schedule despite Covid-19, mainly due to its 'flexible' approach in maintaining operational sustainability across the development.

  • India's Sterling and Wilson wins Acwa's Egypt solar project


    Saudi-based Acwa Power has reached an agreement with Sterling and Wilson, a unit of top Indian construction group Shapoorji Pallonji and one of the largest solar EPC solutions providers, for the development of its 200 MW Kom Ombo solar plant in Egypt.

  • Saudi AlHokair unit Marakez opens new retail hub in Egypt


    Marakez, one of the largest mixed-use developers in Egypt and a subsidiary of top Saudi retailer Fawaz AlHokair, has announced the opening of Town Center, its new 64,000-sq-m retail hub located on the intersection of the Ring Road, Ismailia-Cairo Road.

  • Tenders floated for Kuwait Airport Phase 3 development work


    Kuwait has floated tenders for the construction of parking lots and aircraft runways as well as service buildings in the new terminal at Kuwait airport. The deadline for submitting bids for the airport's Phase 3 project is December 29, said a report.

  • Daikin names new Chairman, President for Mideast, Africa


    Daikin, a global provider of advanced air-conditioning and heating solutions for residential, commercial and industrial applications, has appointed Masaaki Miyatake as the new Chairman and President for Middle East and Africa (MEA) region.

  • Dubai records $1.8bn residential real estate deals in October


    October has emerged as a strong month for Dubai's residential real estate with 3,395 property sales transactions worth Dh6.9 billion ($1.8 billion), thus taking the overall year-to-date total deals value to Dh57.4 billion ($15.6 billion), said a report.

  • Saudi Q3 construction deals value down as Covid crisis bites


    Saudi Arabia said the total value of awarded contracts for the third quarter fell to SR7.4 billion ($2 billion) as Covid-19 related strains on government and private sector entities persist, leading to a slowdown in the construction sector.

  • Al Rajhi to provide key funding for Saudi sewage plant project


    Al Rajhi Bank said it will provide a key Islamic debt facility for the development of an independent sewage plant in the Saudi city of Taif. A consortium of Spanish group Cobra and Tawzea had recently announced the financial closure of the project.

  • Metso Outotec expands mobile, stationary crushing systems range


    Mining engineering company Metso Outotec has expanded its mobile and stationary crushing systems range with a new sizer crusher specially designed for soft ore and aggregate applications available in five models ranging from 500 to 4500 tonne/hour.

  • Orascom-Mitsubishi consortium wins $800m Cairo metro contract


    Egypt-based Orascom Construction said its consortium with Mitsubishi Corporation has won a $800 million contract from National Authority for Tunnels to execute the railway systems, track and depot works package for the first phase of Cairo Metro Line 4.

  • Bahrain to complete $12m people-friendly projects by 2022


    Bahraini authorities said public projects worth BD4.7 million ($12.3 million) will be completed in the Capital Governorate by 2022. These include walkways, market, gardens, parks and a stadium in addition to beautification and development of green areas.

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Arabtec says to go ahead with its liquidation plan

Dubai-based contractor Arabtec Holding said it will go ahead with the plans to file application for liquidation owing to its untenable financial position due to Covid. The company had in September won approval from its shareholders in this regard. ...



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Gulf construction - December 2020


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