Saturday 21 October 2017

Dubai’s apartment rents down 4pc as new supply hits market

Apartment rental rates across Dubai, UAE, were down four per cent and the sales remained flat during the third quarter as new supply added pressure to the emirate's rental market, said leading real estate consultancy Asteco. However the year-on-year (y-o-y) rental declines pl


Al Shirawi FM wins Dubai IHC contract

Al Shirawi FM, an integrated facilities management services company, has been awarded a contract to provide specialised services at International Humanitarian City (IHC) in Dubai Industrial City. The new contract award reflects the company’s growing reputation in the commer


Saudi fund to set up new waste management company

Saudi Arabia’s top sovereign wealth fund Public Investment Fund (PIF) plans to launch a new waste management company to support its investments in domestic recycling sector projects, reported the official Saudi Press Agency (SPA). The new firm, Saudi Recycling Comp


Orpic kicks off ops at $320m storage terminal

Oman Oil Refineries and Petroleum Industries Company (Orpic) has begun commercial operations at the $320-million Muscat-Sohar Product Pipeline (MSPP) project through its main fuel terminal in Al Jifnain. MSPP is one of Orpic’s strategic growth projects which will deliver mo


Bahrain's sewerage project set for Q4 completion

Around 80 per cent of the work is over on the Muqaba Sewerage Network Project in the Northern Governorate of Bahrain and on track for completion by the fourth quarter of this year. The project  aims to connect 41 houses and real estates in Block 517 to the network, said a se


Top 10 projects 'add $21bn into UAE construction market'

The top 10 ongoing projects in the residential building sector are contributing an estimated $21.6 billion to the UAE construction market, said a report released ahead of The Big 5 expo in Dubai. The region's leading construction expo, The Big 5 will run from November 26 to 2


Riyada to develop Ramada hotel in Saudi Arabia

Wyndham Hotel Group, the hotel giant with an unmatched global presence of more than 8,100 hotels in 79 countries, has announced Riyada International Hotels & Resorts, master franchisor of the Ramada brand in the Saudi Arabia, and Concept Towers Real Estate Limited, have agreed to develop a


ADFD reviews $115m Albanian infrastructure projects

A high-level team from Abu Dhabi Fund for Development (ADFD) visited the Balkan state of Albania to review the status of three of its key projects worth Dh423 million ($115 million) including the Tirana River Rehabilitation project, Tirana River Northern Boulevard project, as well as the Tirana


ABB wins Dubai Hills substation contract

ABB, a pioneering technology leader in electrification products, has won an order worth around $45 million from Dubai Hills Estate, a joint venture between Emaar Properties and Meraas Holding, to construct a substation that will boost distribution capacity and feed power to a new integrated lif


Infrastructure work starts at Diyar Al Muharraq project

Diyar Al Muharraq, one of the leading urban developers in Bahrain, said construction work has begun on the infrastructure of one of its exclusive residential communities, Al Qamra, and will be completed by May 2018. Al Qamra residential community boasts 131 freehold residential p

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