Tuesday 13 October 2015

Fluor-led JV preferred bidder for Al-Zour refinery deals

Fluor Corporation has announced that its joint venture team has been selected by Kuwait National Petroleum Company (KNPC) as the preferred bidder for two engineering, procurement and construction (EPC) packages of the new Al-Zour oil refinery project. Facilities in the two packag


Foreign investment in Dubai property tops $14bn

Foreign investment into the property sector across Dubai surged to over Dh53 billion ($14.4 billion) in the first half, a strong proof that the UAE emirate's market is still attractive, said a property expert citing data from Dubai Land Department. “We are very optimist


UAE developer wins $140m murabaha funding

UAE-based Sunrise Properties said it has secured a Dh515 million ($140 million) syndicated loan from two Gulf-based banks for the development of its luxury project Emerald Palace Kempinski Hotel coming up at Palm Jumeirah, Dubai. A company incorporated in the Jebel Ali Free Zone


Siemens wins UAE gas project service contract

Siemens, a global technology powerhouse, has signed a long-term service and maintenance contract with UAE-based gas company Dolphin Energy for its project in Qatar. The Abu Dhabi-headquarted Dolphin Energy´s main shareholder is Mubadala Development (51 per cent), while the


Abu Dhabi's affordable housing push lauded

International real estate consultancy Cluttons has welcomed the announcement by the Abu Dhabi Urban Planning Council (UPC) to decisively address the capital's affordability challenges.   Like Dubai, the lack of what is classed as affordable stock remains limited and has,


Harbin, Acwa poised to win Dubai clean coal power plant deal

A consortium including China's Harbin Electric and Saudi Arabia's Acwa Power has been chosen as the preferred bidder to build and operate a 1,200 MW clean coal power plant in Dubai, UAE, state utility Dubai Electricity and Water Authority (Dewa) said. Harbin Electric and


Abu Dhabi property market stable despite low oil prices

The real estate market in Abu Dhabi, UAE, remained stable in the third quarter, despite a slowdown in government spending and weaker sentiment owing to lower oil revenues, said a report. While the residential sales prices remained unchanged during the period, the decline in inves


Qatar sells Hochtief shares for $614m

Qatar Investment Authority (QIA) has sold its 10 per cent stake in Hochtief AG for about €540 million  ($614 million), a source familiar with the matter said. The sale will clear the path for Spain’s Actividades de Construccion & Servicios (ACS) to consolidate


GCC investors eyeing Spanish property market boom

The booming Spanish real estate market is attracting a lot of attention from the UAE and other GCC investors who are on lookout for a guaranteed, long-term safe investment footholds, said a report. The Spanish market is witnessing solid growth with a eight per cent jump in housin


Daelim seals $1.06bn Iran housing deal

South Korea’s Daelim Industrial Company is set to develop a 500-hectare residential town in Tehran, Iran, at an investment of around €900 million ($1.06 billion), said a report. The investment will be a major boost to the new township of Kharazmi about 50 km southeast

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