Thursday 2 October 2014

Emaar aims to float Egypt unit in June 2015

Dubai's Emaar Properties hopes to launch an initial public offering of its Egyptian unit in about June 2015, the company's chairman told a conference in Dubai on Thursday. Mohamed Alabbar said the Egyptian unit was worth between Dh3 billion and Dh4 billion ($816.8 million


Etihad Rail Phase One line to be ready in December

The first phase of the 264-km Shah-Habshan line under the Etihad Rail Project will be fully completed by the end of this year, said the Emirati state news agency, citing a top official. Seven carriages and 110 wagons will run on this line, reported the Wam news agency citing His


Muscat City Centre opens 30pc more car park space

City Centre Muscat, Majid Al Futtaim’s leading shopping and lifestyle destination in the sultanate, said it will have 30 per cent more car parking space at its facility starting from tomorrow (October 3). The new car park deck can accommodate 700 additional cars for a total


Abu Dhabi summit to discuss stormwater strategy

Leading global and regional experts will be in Abu Dhabi, UAE, to discuss key strategies in masterplanning robust stormwater drainage networks at a major summit this month. The summit will see these experts address key challenges relating to planning, construction and maintenance of st


Qatar in race to ready stadiums for 2022 World Cup

Work is now under way on five 2022 Fifa World Cup venues that are in different stages of construction in Qatar, The Peninsula said in a report. Additionally, demolition has begun on Al Rayyan Stadium that will be rebuilt to increase seating capacity from 22,000 to 40,000.


UAE firm unveils premier lifestyle destination

Ajman-based Al Zorah Development Company has launched a new 5.4 million-sq-m lifestyle destination that blends the best of nature with the finest in modern amenities. Located along the natural peninsula on the coastline of Ajman, the flagship project of Al Zorah Development Company is


Qatari developer in $697m land deal

Qatar's Barwa Real Estate says it will sell land worth QR2.54 billion ($697.4 million) to the government, marking the latest state assistance which the indebted developer has received. In exchange for a plot in Lusail City, Barwa received QR1.04 billion ($285 million) in cash


Imdaad to maintain MRHE Dubai projects

Imdaad, a leading provider of integrated facility management (FM) solutions in the GCC, has signed a five-year strategic agreement with the Mohammed Bin Rashid Housing Establishment (MRHE) to maintain its key projects in Dubai, UAE. As per the deal, Indaad will offer full and int


HJB wins $51m Sohar Industrial Estate job

Hasan Juma Backer Trading and Contracting (HJB) has secured a RO19.8-million ($51.42 million) infrastructure development contract, which is part of the Phase Seven expansion of the Sohar Industrial Estate in Oman. Work on the contract, awarded by Public Establishment for Industrial Est


ICD mulls key investment in Nigerian cement firm

Investment Corp of Dubai (ICD), the emirate's sovereign wealth fund, said it is exploring further investment opportunities with Nigeria’s largest cement manufacturer Dangote after purchasing a minority stake in the African group last month. Dangote Cement, which is list

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