Wednesday 27 August 2014

CPC, Qalaa complete Sphinx Glass transaction

Saudi Arabia’s Construction Products Holding Company (CPC) and Qalaa Holdings marked today the completion of their EGP1.3billion ($180 million) transaction on leading Egyptian float glass manufacturer Sphinx Glass. The celebration marked the final conclusion of a transactio


UAE working on new projects in Palestine

The Emirates Red Crescent (ERC) is presently working on a number of development projects worth Dh53 million ($14.4 million) in the occupied Palestinian territories, said a report. These include health, educational, religious and developmental projects, according to Emirati news a


Saudi awards key rail project contract

Saudi Arabia has awarded a contract to China Railway Construction Corporation for the renewal of the freight railway line between Dammam and Riyadh. The SR122.8 million ($32.5 million) contract was signed by Saudi Railways Organization (SRO) president Mohamed Khalid Al-Suwaiket w


Damac ready for release of ‘Akoya Oxygen’ units

Damac, one of Dubai’s leading luxury developers, said it has brought forward the second release of units at its latest master development, Akoya Oxygen, following ‘unprecedented’ customer demand. Akoya Oxygen is a 55 million sq ft community in Dubailand offering


Dubai villa prices decline 4pc says report

The residential sale prices in Dubai witnessed a drop in the first six weeks of the third quarter with rates falling 4 per cent for villas and 0.6 per cent for apartments, compared to the previous quarter, according to a report. The Q3 2014 apartment and single family home (SFH) sale p


Aerial fit-out for Yas Mall's Geant hypermarket

Geant hypermarket has carried out an aerial fit-out, the largest of its kind in Abu Dhabi, for its new anchor store at Yas Mall, which is scheduled to open in November. Geant began its huge fit-out by installing an air-conditioning system. A helicopter lowered the five units each weigh


Tecom launches 440-villa project in Dubai

Tecom Investments, a diversified conglomerate and a member of Dubai Holding, has launched a new freehold villa community featuring 440 properties close to its DuBiotech business park in Dubai, UAE. The 'Villa Lantana,' project has been designed as two gated communities cl


30pc of Dragon City retail space sought for GCC traders

A key committee of the Bahrain Chamber of Commerce and Industry (BCCI) has proposed that 30 per cent of the retail space in the Dragon City be allocated to Bahraini and Gulf business owners, with the remaining 70 per cent set aside for Chinese business owners. At a meeting, the B


Christie's to open Bahrain property office

Christie’s International Real Estate, the property arm of the renowned London-based art auction house, is considering opening an office in Bahrain. The company's senior vice-president and Middle East regional director Joachim Wrang-Widen revealed the expansion plans at


Qatar inks $170m Morocco projects

Qatar has signed a grant agreement with Morocco for the financing of two development projects in the country worth $170 million, said a report. The first project, for the development of pastures and organising movement in desert and semi-desert pastures in Sous-Massa Draa and Gue

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