Saturday 19 August 2017

Emaar Properties H1 net profit jumps 15pc to $772m

Dubai-based Emaar Properties recorded a growth in net profit of 15 per cent to Dh2.837 billion ($772 million) during the first six months of this year (H1 2017), compared to Dh2.475 billion ($674 million) during the same period last year. H1 2017 revenue was Dh7.866 billion ($2.1


Drake & Scull to elect new board

Drake & Scull International, a regional market leader in engineering and related services, has announced that it will elect a new set of board of directors during its general assembly scheduled later this year.   The announcement was made at the board of dir


Bahrain launches e-service for prequalification bids

Bahrain's Ministry of Works, Municipalities Affairs and Urban Planning has launched an electronic system to receive contractors’ pre-qualification applications. The system was launched under the supervision of the Works Affairs Undersecretary and chairman of the contrac


Abu Dhabi funding of Pakistan projects hits $408m

Abu Dhabi Fund for Development (ADFD), the leading national entity for development aid, has till date supported Pakistan with grants and concessionary loans valued at Dh1.5 billion ($408 million) across nine sustainable projects. The projects spanned diverse sectors, most notably


Haramain railway's first trip expected in January

Saudi Arabia's Haramain High-Speed Rail project, also known as the Western Railway, will operate its first trip from Makkah to Madinah in January, a report said. An official for the project said the train will initially go from Makkah to Madinah with no stops in between, said


Dubai invests $9.5m in beach maintenance

Dubai Municipality is allocating Dh35 million ($9.5 million) for the maintenance of its beaches for the next two years, said a report. The maintenance project will include preventive and corrective maintenance of marine facilities, coastal structures and pollution protection barr


Empower connects Bluewaters with district cooling

Emirates Central Cooling Systems Corporation (Empower), the world’s largest district cooling services provider, says it has connected its network to Bluewaters - a mixed-use project developed by Meraas in Dubai, UAE - in record time. In October 2015, Empower signed a contra


Sustainable City to use 'natural oxidiser' as cleaning solution

The Sustainable City (TSC) in Dubai, UAE has become the world’s first development to introduce ‘Aqueous Ozone’ – a sustainable natural oxidiser that is up to 50 times more effective than common household bleach. This ground-breaking technology has been ado


Marassi Al Bahrain breaks ground for Shores Residences

Eagle Hills Bahrain, developer of the distinguished urban project Marassi Al Bahrain, today broke ground on the second residential component within the project -- Marassi Shores Residences, which has seen strong sales in the off-plan development phase. The ground-breaking ceremon


Damac H1 net profit hits $435m; booked sales top $1bn

Damac Properties Dubai Company, a leading property developer in the Middle East, has announced a total revenue of Dh3.5 billion ($953 million) and a net profit of Dh1.6 billion ($435.61 million) for the first half of this year. As of June 30, 2017, Damac’s booked sales for

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