Thursday 30 October 2014

Property valuations market ‘growing’ in UAE

The property valuations market in the UAE is growing along with the real estate sector, according to leading property agency Chestertons. Chestertons is currently supporting 41 leading banks across the region for property appraisals, said a statement. The property


Abu Dhabi property rentals, sales stabilise in Q3

The real estate market in Abu Dhabi continues to see a stabilisation of rental and sales prices for completed properties, a report said. However, majority of released units from key developers were sold on the launch day itself, added the Emirates 24/7 report, citing the latest q


Blucher wins Jeddah airport pipe supply contract

Blucher, one of Europe's leading producers of stainless steel drainage systems, said its regional office in Dubai, UAE, will supply its 200-mm pipes for Phase One expansion of King Abdul Aziz International Airport (KAAIA) in Jeddah, Saudi Arabia. Under an order won recently,


Shapoorji Pallonji starts Saudi tower work

Designer-contractor Shapoorji Pallonji Mideast, the regional arm of the Indian business conglomerate Shapoorji Pallonji Group, has begun substructure work on the 150-m-tall Al Abdulkarim Tower (AKH Tower) in Dammam, Saudi Arabia. The 40-storey structure on Khobar-Dammam highway,


Hill wins UAE ministry building project

Hill International, a global leader in managing construction risk, said it has received a Dh9.5-million ($2.6 million) contract from Emirates Real Estate Corporation (Erec) to provide project management services for a UAE ministry building. Under the 32-month contract, Hill will help m


Hungary firm to build new oilfield in Iraq

The Kurdistan Regional Government in Iraq has approved a major new oil field development majority-owned by Hungary's MOL, the company said on Thursday. The minister of natural resources has given the green light for the field development plan of the Akri-Bijeel Block adjacent


Cameron seeks Qatar funding for infrastructure projects

British Prime Minister David Cameron has urged Qatar to plough more of its vast oil and gas wealth into infrastructure projects across Britain during an official visit from the Gulf state's emir. Cameron asked Sheikh Tamim bin Hamad Al Thani to consider further funding to hel


Dubai property slowdown stabilises rents in Q3

Dubai’s real estate market witnessed further stabilisation and a slowing down of both property prices and rental rates in the third quarter, a far cry from the abnormal price hikes the UAE emirate had experienced in the last 18 months, said a report. The property market slo


Quality building materials in focus at Dubai forum

The role of quality building materials in achieving higher standards for sustainability and safety in buildings and infrastructure will be the focus of an upcoming conference in Dubai, UAE. The second annual Quality Assurance for Sustainable Construction Materials Conference will


Omniyat starts work on $680m Dubai residential project

Leading developer Omniyat has started work on its Dh2.5-billion ($680 million) project One at Palm Jumeirah, a 25-storey structure which is set to become the single tallest residential property on the Palm islands in Dubai, UAE. Designed by US-based architect and founder of internation

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