Thursday 27 July 2017

Union Properties names new CEO

Union Properties, one of the leading property investment developers in the UAE, has appointed Ahmed Yousef Abdulla Hussain Khouri as its new chief executive officer. A key player in the region, Union Properties have developed a diverse portfolio that consists of iconic landmarks


Al Ghurair makes substantial power, CO2 reductions

Al Ghurair, the UAE-based industrial conglomerate, is registering substantial savings in power consumption and slashing an estimate of 10 per cent to 30 per cent of its carbon emissions through its various environmental sustainability initiatives. These significant reductions in


Seef Properties' H1 net profit surges 16pc

Bahrain-based Seef Properties has registered a net profit of BD5.2 million ($13.7 million) for the first half of 2017, up 16 per cent compared to BD4.5 million ($11.8 million) the same period last year. Announcing the results for the first six months, Seef Properties said its ope


China seals $1.5bn Iran rail line electrification deal

Export-Import Bank of China (EXIM) signed a $1.5-billion deal to finance the electrification of a high-speed rail line between the Iranian cities of Tehran and Mashhad, said a report. China National Machinery Import and Export Corporation (CMC) will be responsible for the electri


Saudi Arabia sets up commission to develop historic sites

Saudi King Salman bin Abdulaziz has decreed the establishment of renovation commissions tasked with the development of two of the most important archaeological and historic sites in the Kingdom, Al Ola and Diriyah Gate. These two areas’ historic, cultural and architectural


Aurecon wins key Doha Metro project role

Global engineering and infrastructure advisory company Aurecon has been appointed by Qatar Rail as the design verification engineer on the Red Line South Underground, one of the six sections that make up Doha Metro project. With about 100 stations and over 219 km of rail line, it is al


UAE developer Nakheel posts $718m H1 net profit

Leading UAE developer Nakheel has announced a net profit of Dh2.64 billion ($718.6 million) for the first six months of 2017 compared to Dh2.95 billion ($803 million) for the same period last year. Announcing the results, the Emirati group said it was confident of achieving its f


Emaar unveils new villa community in Dubai South

With demand for family homes gaining strength in Dubai, leading property developer Emaar has launched an exclusive collection of elegantly designed villas located along an 18-hole championship golf course in Dubai South. Emaar South, the 7-sq-km development by Emaar Properties an


Abraj Misr to launch new phase of Egypt project

Egypt’s property developer Abraj Misr Company is planning to launch a new phase of its flagship development - The Shore - in the northern coastal area of Ras El Hekma over the next few days. This will be launched under the name of New Malibu at an investment of E£200


Abu Dhabi group to set up $150m Vietnam petchem JV

Abu Dhabi-based Baron Point Petroleum Services Company (Baron Point Petroleum) has reached an agreement with national oil and gas company PetroVietnam Oil Corporation (PV Oil) to set up a joint venture that will finance, build and operate petroleum product pipelines and storage space in the cou

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