Saturday 23 July 2016

Kuwait set to award $27bn contracts this year

Kuwait’s projects market continued to expand in the second quarter of this year in spite of the low oil prices and the state is expected to award another KD8.4 billion ($27 billion) worth of contracts before year-end, a report says. Kuwait awarded KD812 million ($2.7 billio


Douglas Emmett and QIA buy LA office building for $225m

Douglas Emmett, a real estate investment trust (REIT), has announced the acquisition of a key office property in Los Angeles in joint venture with Qatar Investment Authority (QIA). The 365,000-sq-ft Class "A" property, located at 12100 Wilshire Boulevard in the Brentwoo


Magic marker! A pen that draws electric circuit

A Japanese startup has developed a pen that can bring pictures to life using a silver quick drying ink that conducts electricity. The "Circuit Marker" allows users to draw an electric circuit that can withstand up to 100 volts. The circuits are capable of lighting lamps


Sobha showcases Hartland model villas

Sobha Group, a global real estate development firm, has unveiled model villas at its $4-billion Sobha Hartland project in Dubai, UAE. “Sobha Hartland is the only luxury community development located on the stunning new Dubai Water Canal,” said PNC Menon, chairman and


Maalem to deliver Egyptian housing projects in 2017

Egypt-based Maalem Group for real estate development is set to hand over a range of residential projects by the beginning of next year, said a report. The projects include 12 residential towers in New Cairo, three of which would be delivered in 2017, reported Amwal Alghad


Royal HaskoningDHV wins Saudi logistics park contract

Royal HaskoningDHV, an international project management consultancy, said it has been appointed by the Saudi Trade and Export Development Company (Tusdeer) to provide masterplanning and consulting engineering services for its new state-of-the-art logistics park in Jeddah. Tusdeer


Dar Al Arkan Q2 net profit falls 38pc

Dar Al Arkan, one of Saudi Arabia's largest property developers, has reported a 38.7 per cent fall in second-quarter net profit, continuing its earnings slump as it made less money from land sales. Arkan made a net profit of SR43.2 million ($11.5 million) in the three months


Bahrain's foreign ownership move to boost property sector

The recent decision by the Bahraini government to allow foreigner investors 100 per cent ownership in various sectors of the market is likely to have a positive long-term impact on the kingdom’s property markets, according to leading international real estate consultants Cluttons.


Jazeera to build new terminal at Kuwait airport

Kuwaiti government has allocated land to Jazeera Airways for the construction of a dedicated passenger terminal and car park buildings at Kuwait International Airport. One of the leading low-cost carriers in the Middle East, Jazeera Airways said the total investment in the projec


Iran offers services for Africa construction sector

Iran is willing to provide technical and engineering services for African infrastructure projects, a senior government official was quoted as saying in an Iran Daily report. Mohammadreza Nematzadeh, the Iranian minister for industry, mine and trade, highlighted the count

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