Construction & Real Estate

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Shayne Nelson said that the UAE attracted safe investments from the likes of Iraq and Syria (File/AFP)
August 28, 2014 - 10:22 GMT
With turmoil continuing in the Middle East, the UAE has been the safe haven for many people in terms of property and flights, according to a senior banker.

June 27, 2013

Emaar's Dubai Mall
06:00 GMT

UAE shares failed to hold on despite a strong rebound on Tuesday. The world stocks and bonds gained for the second day on Wednesday, lifted by healthy US data.

June 26, 2013

An artist's impression of the Dubai Palm Jumeirah managed by Viceroy.
13:10 GMT

China State Construction Engineering Corporation Middle East (CSCECME) on Tuesday announced that it will invest in Skai Holdings’ Dh3.67 billion ($1 billion) Viceroy Dubai Palm Jumeirah project.

Nakheel tower
10:47 GMT

Dubai's state-owned property firm Nakheel, is in talks with banks to refinance loans worth 8 billion dirhams ($2.2 billion) that are due in 2015, the chairman of the company said on Wednesday.

June 25, 2013

Back in Saudi, the Ministry of Housing awarded six infrastructure projects worth more than $1bn USD
11:46 GMT

Construction and transport sector contracts worth over $39 billion have been awarded for projects in the GCC in the first half of 2013, Qatar Rail is the top ranked awarding client and ABV Rock is the top ranked contractor by value of contracts awarded.

June 24, 2013

The transactions took almost a year to complete due to the complex structures
10:29 GMT

Two units of Saudi Arabia's Fawaz Alhokair Group have signed sharia-compliant financing facilities worth 4.6 billion riyals ($1.2 billion) to fund real estate developments, a statement said on Sunday.

June 23, 2013

Bay Square
06:02 GMT
(press release)

Dubai Properties Group, a member of Dubai Holding, has today announced that two buildings in its Bay Square development located in Business Bay are complete and a further four are at the final stages of completion.

June 17, 2013

Dar Al-Arkan Real Estate topped the volume chart
12:07 GMT

The Saudi stock market turned green yesterday, recovering half percent from the biggest dip of previous day.

The statement gave no timeframe for the capital increase or the regulatory approval process.
06:00 GMT

Palm Hills, Egypt's second-biggest listed property developer, plans to increase its capital by 600 million Egyptian pounds ($85.8 million) through a rights issue.

June 16, 2013

UDC is the developer of a man-made island in Doha
12:46 GMT

United Development Co (UDC) , the developer of a man-made island in Doha, said on Thursday that is raising a 1.56 billion riyals ($428.4 million) loan facility from Qatar National Bank.

June 13, 2013

Sorouh and Aldar weigh $15 billion merger plan
10:39 GMT

Abu Dhabi property firms Aldar Properties PJSC and Sorouh Real Estate said the two companies expect to close their state-backed merger by June 30, pending a ministerial resolution approving the deal.

June 12, 2013

AKOYA by DAMAC
09:34 GMT
(press release)

DAMAC Properties, the largest private developer of luxury real estate in the Middle East, has announced the launch of the first phase of sales for luxury villas within the ‘AKOYA by DAMAC’.

The UAE and Saudi Arabia are the largest auto component markets in the GCC
06:00 GMT

The recovery of the Dubai property market has led to a boost in the consumption of auto parts, according to exhibitors at Automechanika at the Dubai International Convention and Exhibition Centre. The event opened on Tuesday.

June 11, 2013

Saudi Landbridge
13:19 GMT

Saudi Arabia is currently undertaking ground-breaking transformations in the transportation sector and Huawei Technologies aims to place the passengers at the heart of the new transformation by emphasizing safety, comfort and reliability as critical components of railway infrastructure.

June 10, 2013

According to prosecution records, J.B. abused her post at the Dragon Mart administration and forged the blank cheques worth more than Dh1.3 million and wrote J. T.’s name as the beneficiary
10:52 GMT

A former woman executive with Nakheel allegedly fled to her home country after embezzling more than Dh1.3 million worth of tenancy contract cheques, a court heard.

During the event
09:45 GMT

Khalaf Ahmad Al Habtoor congratulated senior executives from the Al Habtoor Group who were recently awarded by external bodies for excellence in their respective professions in the United Arab Emirates.