Saturday 20 December 2014

Saudi Rail to showcase latest rail industry developments

International exhibitors are set to showcase the latest developments in the railway industry and highlight opportunities in the region, according to a report. The rail projects in the region has been estimated to reach SR45 billion ($11.9 billion), said the Arab News report.


Qatar’s tourism-related project investment to hit $45bn

About $45 billion in investments have been projected for tourism-related project in Qatar up to 2030, according to a report. The projected investment in the tourism sector alone is $11.5 billion up to 2030, Issa bin Mohamed Al-Mohannadi, chairman of Qatar Tourism Authority (QTA)


Lifestyle Developers honoured at Arabian Property Awards

Lifestyle Developers, a Saudi Arabia-based real estate developer, has received a ‘Highly Commended’ ranking in the developer category at the Arabian Property Awards, in association with Ernst and Young.   The Arabian Property Awards are part of the long establishe


Limitless hosts Vietnamese delegation in Dubai

Dubai developer Limitless hosted Vietnam’s Deputy Prime Minister as part of the Vietnam Days in the UAE event, at which the two countries agreed to boost trade, investment and labour co-operation. Nguyen Xuan Phuc and his delegation – including Vietnamese Ambassador P


Orpic Logistics inks deals for $320m Oman pipeline project

Orpic Logistics Company (OLC) has awarded an engineering, procurement and construction (EPC) contract and a financing deal for a major pipeline project worth $320 million in Oman. OLC is a joint venture between Oman Oil Refineries and Petroleum Industries (Orpic) and  and the Span


Action to build three-star hotel in Dubai Healthcare City

Action Hotels Company, a leading owner, developer and asset manager of branded three- and four-star hotels in the Middle East and Australia, has acquired a prime freehold plot of land in Dubai Healthcare City (DHCC) to develop a 240-room three-star branded hotel. DHCC is a free z


Green building certifications ‘lack transparency’

Seals of quality carry weight in the sustainable real estate industry – but the variety of existing certification systems results in a lack of transparency, a report said. The study conducted by Modul University Vienna, Austria examined the role of non-governmental organiza


Drake and Scull mulls share buyback

The board of Dubai contractor Drake and Scull will consider buying back up to 10 per cent of the company's shares at a meeting on December 22, the company said on Thursday. Drake and Scull, whose shares have plunged 42 per cent since the end of October as part of a panic sell


Global floor coverings market to hit $325bn

Global demand for floor coverings is forecast to advance 4.5 per cent annually through 2018 to 19.4 billion sq m, valued at $325 billion, a report said. Growth represents an improvement from the rate of the 2008-2013 period due to an expected rebound in housing construction in ma


Railways constitute one-third of GCC transport projects

Rail projects account for 32 per cent of the total GCC transportation developments valued at $298 billion, according to recent reports. Transportation makes up to 20 per cent of the total construction spend in Saudi Arabia where nearly $25 billion is at the bidding stage or under

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