Wednesday 3 September 2014

Majid Al Futtaim plans big Oman retail expansion

Majid Al Futtaim (MAF), a leading shopping mall, retail and leisure pioneer in the region, is planning a major retail expansion at the City Centre Muscat to introduce 60 shopping and dining options, in 10,000 sq m of new retail space. The RO27 million ($70 million) retail expansion pro


Emaar shareholders to have priority in IPO

Investors holding shares in Dubai's Emaar Properties at the end of trading on September 10 will qualify for priority allotment in the flotation of its mall unit later this month, the developer has said. Emaar plans to float at least 15 percent of its shopping malls and retail


$9m coastal project on track in Bahrain

A BD3.6 million ($9.4 million) coastal project including a 1km beach and a harbour is scheduled for completion in Zallaq by the end of the year. Details were revealed yesterday by Municipalities and Urban Planning Affairs Minister Dr Juma Al Ka'abi, following protests by Zall


Asteco named lease agent for Dubai tower

Asteco, a leading real estate consultancy in the region, has been appointed as the sole leasing agent for the Al Saqr Business Tower, situated in one of Dubai’s most prestigious and sought after business addresses. Within walking distance of Dubai International Financial Ce


UAE foundation to build water stations in Sudan

Dubai-based Al Maktoum Foundation has inked a Dh1 million ($272,175) contract for the construction of 10 water stations at South Darfur and West Kordofan in Sudan. The contract was signed as per the directives of Shaikh Hamdan Bin Rashid Al Maktoum, Deputy Ruler of Dubai and Mini


Siemens wins key SEC deals

German technology giant Siemens has inked two contracts with Saudi Electricity Company for the construction of static var compensators (SVCs) at several substations in Saudi Arabia. Siemens, a global powerhouse which innovates the electrical world and operates in the fields of en


Saudi awards $33bn project contracts in H1

The value of contracts awarded in Saudi Arabia during the first half of this year hit SR124.6 billion ($33.2 billion), up 21 per cent over SR102.7 billion during the same period in 2013, according to a report. The kingdom recorded a significant upswing in the value of awarded con


Property price rise deters first-time home buyers

The rise in property prices has resulted in fewer sales transactions in the second quarter of the year and diverted potential first time home buyers to shift their immediate attention to continuing to rent in Dubai, UAE, a report said. Meanwhile, some other home buyers are taking more


Bahrain to hand over 210 new homes

The Bahrain government is all set to hand over residential unit contracts to 210 beneficiaries of the Zallaq Housing Project, said a report. The move is in line with His Majesty King Hamad's directives to speed up the distribution of the contracts of the units of the Zallaq,


380 Bahrain firms violate summer work ban

A total of 380 firms violated Bahrain's summer work ban this year. During the last two weeks of the ban, which ended on Sunday, 114 violations were registered involving 259 labourers. Labour Ministry officials have inspected 19,597 sites in all five governorates since July, o

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