Wednesday 8 July 2015

UAE property market set to maintain performance

UAE property market is set to sustain its performance after peaking in 2014, with operating conditions likely to temper performance, a report said. The property sector’s performance in the second half (H2) of the year exceeded expectations, with industry-wide economic diver


Saudi construction equipment rentals to see big growth

The construction equipment rental market in Saudi Arabia projected to surge at a compounded annual growth rate (CAGR) of over 12 per cent during 2014-20, according to a new report. Key factors driving the market include consistent growth in public and private infrastructure devel


Tabreed buys back $272m convertible bonds

National Central Cooling Company (Tabreed) has completed the repurchase of convertible bonds worth  Dh1 billion ($272 million) from a unit of Abu Dhabi fund Mubadala, the company said in a bourse filing on Monday. The bonds were held by MDC Industry Holding Company, the fili


Empower honoured at US summit

Emirates Central Cooling Systems Corporation (Empower), a leading district cooling services provider, said it was honoured with two awards at the 106th International District Energy Association (Idea) Annual Conference and Trade Show, held in Boston, US. The Idea annual awards ar


VA Tech Wabag JV to build Bahrain sewage plant

Indian water treatment specialist VA Tech Wabag along with its joint venture partner Belhasa Projects has won its first EPC (engineering, procurement and construction) contract in Bahrain worth Rs580 crores ($91 million), a report said. Under the contract, the joint venture will


Western Furniture launches summer promotion

Western Furniture, a premier retailer of upscale home furniture in the UAE, has presented its exclusive summer promotion with complete living solutions and styles to suit any home. This season, customers can avail up to 70 per cent discounts on a wide variety of top-of-the-line I


French consultant Arep wins Iran rail contract

French consultant Arep has won the first contract in the $25-billion Iranian rail programme, said a report. The deal worth $8 million has been awarded to Arep for the redevelopment of three main railway stations in Iran, reported the Global Construction Review.


Home fashion brand ‘THE One’ to open store in Bahrain

CBRE Group has signed  a deal with ’THE One,’ a leading home fashion brand in the Middle East, to open its third store in the region for the brand’s new discount line at the Enma Mall in Bahrain. Spread across nearly 1,000 sq m, the new ’THE One Basic


Cayan breaks ground on new Riyadh project

Cayan Group, one of the leading real estate developers in the Middle East, said it has broken ground on CMC, its high-end project in Riyadh, Saudi Arabia. Previously launched as CM1, CMC is a sophisticated business centre located on King Fahed Road. The project has been undertake


ATS Terminal in Sharjah plant expansion

ATS Terminal, a UAE-based company, said it has doubled its storage capacity following the completion of its Phase Two expansion. Based at Hamriyah Free Zone in Sharjah, the company offers services like storage and transport of liquid chemicals and fuel. ATS Termina

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