Friday 25 July 2014

Foundation laid for massive Madinah city

Work on the massive King Abdullah City for Pilgrims was launched in Madinah recently with the laying of the foundation for the project. Attending the ceremony were Minister of Finance Dr Ibrahim Al-Assaf and Minister of Haj Dr Bandar Al-Hajjar. The foundation stone


Seef Properties registers $9.1m net profit

Seef Properties has reported a 3.4 per cent increase in net profit at BD3.42 million ($9.06 million) for the first half of the year when compared with BD3.31 million for the same period last year.   The gross rental income f


Work on Bahrain homes project begins

Bahrain's Housing Ministry has started work on the East Hidd housing project.   A multi-million agreement has been signed to construct the first phase of the project, which includes 483 units, said a report in the Gulf D


Saudi state fund plans housing firms

Saudi Arabia's Public Investment Fund (PIF) aims to establish companies in areas including housing, petrochemicals and technology as it expands its investments locally and overseas, Finance Minister Ibrahim Al-Assaf said. His statement, quoted on Wednesday by the Al-Sharq Al-


Grohe buys majority stake in Dawn unit

Germany-based Grohe Group has acquired a majority stake in the WaterTech portfolio of Dawn to become the market leader in South Africa. The new company to be named Grohe Dawn WaterTech Holdings will be owned 51 per cent by Grohe and 49 per cent by Dawn. The brands


QSTec, Qatar Rail target solar energy prospects

Qatar Solar Technologies (QSTec) has signed a deal with Qatar Railways Company to explore opportunities that may lead to the installation of up to 80 megawatts of solar technology within Qatar’s upcoming rail network.  


UDC posts 34pc increase in H1 profit

United Development Company (UDC), a leading Qatari shareholding company and master developer of The Pearl-Qatar, has reported a net profit of QR521 million ($143 million) in the first half of the year, up 34 per cent.   The


Deyaar profit doubles on new project launch

Dubai-based property developer Deyaar said on Wednesday its second-quarter net profit more than doubled, buoyed by the launch of its hotel apartment project.   Deyaar made a quarterly consolidated net profit of Dh62.5 millio


Dubai office rents continue to rise: CBRE

Dubai’s office rents are continuing to rise due to the growing economy and increasing business confidence, according to a CBRE report.   The Q2 2013 Dubai Market View by the property advisor, said the average Central B


Dilmunia wins visual identity award

Dilmunia at Bahrain has won the best visual identity award at the 2014 Transform Mena Awards in recognition of its strategic and creative visual brand positioning.   Dilmunia is a project by master developer Ithmaar Developm

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