Friday 22 August 2014

JBR traffic diversion for Dubai tram project

Dubai’s Roads and Transport Authority (RTA) is currently executing the last traffic diversion on Jumeirah Beach Residence (JBR) Street, Dubai Marina as part of the ongoing works of Dubai tram project. The trams are scheduled to start operation in November. The 1 km-long


Asry signs key desalination project deal

Arab Shipbuilding & Repair Yard Company (Asry), a leading ship and rig repair yard based in Bahrain, has agreed a build-operate-transfer (BOT) contract for the completion and upgrading of a reverse osmosis seawater desalination plant. The agreement, which has an estimated $8.


Nakheel to repay entire $2.15bn debt 4 years early

Dubai property developer Nakheel is repaying all of its Dh7.9 billion ($2.15 billion) of bank debt as much as four years ahead of schedule, the company said in a statement on Wednesday. The final instalment of the debt was to have come due in March 2018. Nakheel originally announ


Saudi firms sign deal for ‘Studio M’ hotel in Riyadh

Saudi Arabia's Waseel Properties and Raseel Properties have signed a deal with Millennium & Copthorne Hotels Middle East and Africa (MEA) to develop a 145-key hotel in Riyadh. Millennium & Copthorne Hotels will launch its first Studio M brand in the Middle East with the hot


WSP wins key Oman airport facilities contracts

UK-based consultant WSP has been appointed by international contractor J&P Overseas and Oman’s Ministry of Transport and Communication to work on two major airport facilities in Oman. The projects include the maintenance and cargo facilities at the Muscat International Airpor


Iran ‘planning to build $2.5bn oil terminal’

Iran is mulling the construction of a big oil terminal with an estimated investment of $2.5 billion in the port city of Jask off the Sea of Oman, said a report. The construction of the oil terminal involves storage tanks, loading and unloading wharves, single-point moorings (SPM)


KAEC to build new link road to railway station

King Abdullah Economic City (KAEC) has signed a contract to develop the initial phase of a road that will connect the Haramain inner-city railway station with the Business Park at Bay La Sun district and KAEC residential communities. The SR15 million ($4 million) contract was sig


HOK to acquires sports facilities design firm

US-based HOK, a global architecture and engineering firm, has announced an agreement to acquire award-winning sports facility design firm 360 Architecture, which designed Basrah Sports City in Iraq among other high-profile projects. 360 Architecture is one of the world’s le


Damac launches lush green ‘Akoya Oxygen’

Dubai-based Damac Properties has introduced Akoya Oxygen, its second master development in Dubailand, providing a lush green environment with an upscale resort feel. The project, which follows the launch of Akoya by Damac last year, is set to be the largest in the area and is spr


GCC inflation rates up on higher housing prices

Inflation rates jumped across GCC states between 1.21 per cent and 3.1 per cent in the six months ending June this year, driven by higher housing and utility costs. The latest inflation figures issued by the Statistical Centre for the Co-operation Council for the Arab Countries o

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