Saturday 5 September 2015

Saudi Arabia 'mulls tax on all undeveloped urban land'

Saudi Arabian authorities are considering imposing a tax on undeveloped urban land across the board, even on small plots, to prevent landowners from evading the levy, the Okaz newspaper reported on Thursday. In March, the cabinet approved in principle the idea of taxing


Tebyan launches Sparkle Towers Phase Two sale

UAE-based development company Tebyan has announced the sale of the second phase of its landmark 'Sparkle Towers' development located in the heart of one of Dubai’s trendiest waterfront attractions. The project consists of two towers: the first (ground plus 29 floors


Opple, Al Manara hold lighting seminar in Riyadh

Opple Lighting, a leading lighting manufacturer based in China, and Al Manara Electric, its agent in Saudi Arabia, held a seminar for the Riyadh project lighting community.   The event was attended by more than 200 engineers and ministry officials, who were impr


Seera nets $64m from sale of Kosan Crisplant

Bahrain-based Seera Investment Bank has sold an investment asset to a Saudi Arabian construction company for 424 million Danish Krone ($63.8 million). The sharia-compliant investment bank said in a statement yesterday that it sold Kosan Crisplant, a leader in filling equipment for LPG cylinde


New infrastructure projects in Hidd unveiled

New infrastructure projects were unveiled in Hidd, Bahrain yesterday (September 2). They were announced as His Royal Highness Prime Minister Prince Khalifa bin Salman Al Khalifa visited the area. The Premier inaugurated a multi-purpose hall built on the orders of His Majesty King Hamad, namin


Ikea Saudi rolls out 2016 catalogue

Ikea Saudi Arabia, a world leader in furniture and design and a member of the Ghassan Ahmed Al Sulaiman Furnishing, has launched its new 2016 Ikea Catalogue. This year’s catalogue is dedicated to a theme that naturally unites people, providing something that is highly indiv


Saudi groups plan $320m shopping complex

Saudi-based Raj Real Estate company, a subsidiary of Al-Rajhi United, and Baseel property company, have announced plans to develop a SR1.2 billion ($320 million) shopping complex - The Riyadh Walk. The project, which boasts of office, shopping and dining complex, will be built on


Chestertons to unveil ‘London Collection’ at Cityscape

International property agency Chestertons is set to unveil a series of luxury mixed-use developments by London’s leading developer St George at the upcoming Cityscape Global expo in Dubai. ‘The London Collection’ features a range of high quality and stylish resi


Kuwait residential sales fall 28pc in July

Sales in Kuwait’s residential sector totalled KD98 million ($324 million) during July falling below the KD100 million mark for the first time in almost three years, reflecting a decrease of 28 per cent year-on-year (y/y), a report said. Reminiscent of 2010’s performan


18 Turkish workers kidnapped in Baghdad

Eighteen Turkish workers were kidnapped from a sports stadium they were constructing in northeast Baghdad on Wednesday morning, the head of their firm, Nurol Holding, told Reuters. "People dressed in military uniforms broke down the door at 3 am (0000 GMT) and abducted all t

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