Tuesday 7 July 2015

Higher land lease rates causes concern in Bahrain

A decision to increase rates for leasing land in Bahrain from 200 up to 600 per cent has caused concern among business owners. Rates for industrial land will be doubled to BD1 ($2.6) per square metre, rates for logistics services land will increase fourfold to BD4 and commercial exhibitions lan


Alba gets go-ahead for $3.5bn plant expansion

Construction work on a sixth potline at Aluminium Bahrain (Alba) was given the go-ahead yesterday (July 6). Chairing the weekly Cabinet meeting, His Royal Highness Prime Minister Prince Khalifa bin Salman Al Khalifa welcomed the landmark plan, which will boost Bahrain’s sta


Saudi Real Estate, Alinma ink $480m land deal

Saudi Real Estate Company has signed an agreement with Alinma Investment, a unit of Alinma Bank, to jointly buy 1.8 billion riyals ($480 million) of land in Riyadh, it said in a statement on Monday. The company did not name the seller of the land, which spanned 4.5 million sq m i


Dubai awards key internal road project

Dubai's Roads and Transport Authority (RTA) said it has awarded a contract for an internal roads project at Al Barsha area of the emirate. Al Barsha South 2 will complement the initial phase of internal roads construction project at South 1 - both of which together cost Dh100


Isolux Corsan JV preferred bidder for $2.6bn Makkah metro

Spanish group Isolux Corsan said its joint venture with Turkish group  Kolin İnsaat Turizm Sanayi ve Ticaret and Saudi Arabian company Haif has been named preferred bidder for the €2.3-billion ($2.59 billion) contract for the construction of lines B and C of the Makkah Metro in Saudi


Garmco inks $55m expansion deal

Garmco, a leading aluminium rolling mill, has entered into an agreement with Fives, an industrial equipment supplier, to build a new state of art cast house valued at $55 million at its facilities in Bahrain. The re-melt project is an EPC (engineering, procurement and constructio


UK abseilers scale Dubai heights in learning operation

Two abseilers from UK-based Avalon, a leading industrial abseiling and construction services firm, recently scaled a skyscraper in Dubai, UAE in a partnership operation to help prepare for London’s major expansion into the sky. Greig Littlewood and Nigel How, both commercia


Barwa Real Estate unveils five-year business plan

Barwa Real Estate, one of Qatar's largest listed real estate companies, announced a five-year business plan on Monday which targets a return on equity of no less than 15 per cent to the end of 2020. Under the 2016-2020 plan, Barwa is looking at QR15 billion ($4.1 billion) of


Qatar air-conditioner market growth to top 13pc

Qatar's air-conditioner market is projected to grow at a CAGR of 13.42 per cent during 2015-21 with the big boost coming from the 2022 Fifa World Cup, a report said. The country is renovating and building new stadiums and would also be installing very powerful air-conditioner


Orpic issues EPCC tender for refinery

Oman’s Oil Refineries & Petroleum Industries Company (Orpic) recently floated an EPCC (engineering, procurement, construction and commissioning) tender for its facilities at a refinery near Muscat. The tender on a call-off basis for the Mina Al Fahal refinery also inclu

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