Saturday 25 October 2014

Lebanon's real estate transactions hit $6.7bn

Lebanon has registered real estate transactions worth $6.7 billion in the first nine months of 2014, up 10.6 per cent over $6 billion during the same period last year, said a report. A total of 795 real estate transactions had been executed by foreigners during the period, accoun


Dubai to open 14-km Jumeirah Corniche

Dubai's Roads and Transport Authority (RTA) is set to fully open the Jumeirah Corniche stretching 14 km at the beach overlooking six residential communities starting from the backyard of the Dubai Marine Beach Resort up to Burj Al Arab Hotel, on Sunday (October 26). The corni


Majid Al Futtaim to build $683m Mall of Egypt

Majid Al Futtaim is set to invest 4.9 billion Egyptian pounds ($683.4 million) in the construction of the Mall of Egypt. Top government officials including Ibrahim Matlab, Egyptian Prime Minister along with Ashraf Salman, Ministry of Investment and Dr Mostafa Madbouli, Minister o


Samsung wins $600m Turkey power plant deal

Samsung C&T Corp has won a 630 billion won ($597 million) order to build a power plant in Turkey from Saudi Arabia's ACWA Power International. The South Korean builder said in a statement the construction of the gas combined cycle power plant in the Kirikkale region in Tu


Aldar completes Abu Dhabi mall construction work

The construction work at the Yas Mall, Abu Dhabi's ultimate retail destination, has been completed and the development is now on track for launch in November, said a report. The mall is the second biggest in the UAE, and the largest in Abu Dhabi. It will house the emirate&rsq


Qatar’s real estate prices hit new high

Qatar's real estate price index hit an all-time high, surging a record 42 per cent this September, compared to the same month last year, said a report. The country's real estate prices has been steadily rising throughout this year except May, when the index fell marginall


Khodari may double capex for big Saudi projects

Major Saudi Arabian construction firm Abdullah Abdul Mohsin Al-Khodari and Sons said it may double its capital spending in coming years to cope with the work it hopes to do on the country's big infrastructure projects. Saudi Arabia's SR855-billion ($228 billion) state bud


Management deals 'key to Qatar's property growth'

Development management agreements (DMA) are vital for protecting success in the real estate market in Qatar, said an industry expert. According to recent data from property developers, real estate year-on-year sales in Qatar jumped by nearly a third in June, with land purchases m


New hotels to be built at Dubai World Central

Two new hotels are being built at the Dubai World Central (DWC), the world's first purpose-built aerotropolis, which will be managed by the InterContinental Hotels Group (IHG). The new projects - the 450-room Holiday Inn and 250-room Staybridge Suites hotel -  will be develope


Kanoo, UK group to set up access platforms JV

Kanoo Machinery, one of the leading materials handling solutions providers in the GCC,  is set to sign a new partnership deal with IPS, the largest independent full service distributor of powered access platforms (aerial lifts) in the UK.   A member of The Kanoo Group, o

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