Tuesday 21 April 2015

Abu Dhabi residential rentals surge 12pc

The residential rental market in Abu Dhabi, UAE, witnessed solid growth in the first quarter increasing by 12 per cent over the past year despite the emergence of more challenging market conditions, said a report. Over the past year, the average rental growth has been relatively consis


Al Maha Ceramics launches new range at Oman expo

Al Maha Ceramics, a leading tile brand in the GCC, launched its latest range of new décor tiles at the recent Big (Builders International Gathering) Show 2015, a major event for professionals in the building and construction industry, in Muscat, Oman. Al Maha Ceramics show


Seven Tides to showcase luxury projects at Cityscape

UAE-headquartered upscale residential, hospitality and commercial property developer Seven Tides will be showcasing two of its Palm Jumeirah luxury projects at the Cityscape Abu Dhabi property exhibition to be held from April 21 to 23. Headlining Seven Tides’ presence at th


Acwa JV wins big Saudi gas plant project

Acwa Holding, a regional infrastructural developer in the power and water sectors, along with its joint venture partner US-based Air Products, has won a major contract from Saudi Aramco to build, own and operate the world's largest industrial gas complex in the kingdom. The n


Saraya Bandar awards $95m Oman hotel deal

Saraya Bandar Jissah, the developer of the newest integrated tourism complex (ITC) in Oman, has awarded a RO37-million ($95.8 million) contract to Habtoor Leighton Group (HLG) to build the second five-star hotel on the beachfront of Bandar Jissah bay. According to the contract, H


Emaar's Egypt unit reports big profit jump

Emaar Misr, the Egyptian arm of Dubai developer Emaar Properties, on Sunday reported a big jump in first-quarter profits, supported by strong revenue growth. The subsidiary of Dubai's largest real estate developer said profits reached E£172.7 million ($22.65 million) in


Samaha wins Gaza solar plant contract

The Palestinian Energy Authority has signed a agreement with US-based Samaha company to build a 30MW solar power plant in Gaza, said a report. A renewable energy firm owned by a Palestinian businessman, Samaha will carry out work on the land that used to be part of a Jewish settl


GCC construction boom drives softwood demand

Demand for timber and timber products is expected to witness unprecedented growth in the GCC region on account of the booming construction sector, according to a report by Ventures Middle East. With the total value of GCC building contracts awarded expected to surge to $91.5 bill


Economic evolution driving Abu Dhabi property market

The ongoing drive for economic diversification in the UAE capital Abu Dhabi is helping to underpin growth in the emirate’s property market despite a backdrop of low oil prices, according to a report. In the residential market, the impact of falling oil prices on job creatio


Tadhamon exits UK student residential property

Tadhamon Capital, a Bahrain-based Islamic investment company, has announced its successful exit from Paris Gardens - its first investment in a Central London student accommodation property. The sale of the 253-bed property, which was developed in a joint venture with McLaren Prop

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