Tuesday 3 May 2016

Riyadh to seek UK, France, China help in building homes

Saudi Arabia's government has authorised the housing ministry to seek the assistance of Britain, France and China in building hundreds of thousands of homes to ease a shortage of affordable housing in the kingdom. The housing minister and his deputy were given the power to si


Majid Al Futtaim to boost investment in Oman by $1.8bn

Majid Al Futtaim, the leading shopping mall and leisure pioneer across the Mena region will increase its investment in Oman by RO515 million ($1.83 billion) by 2020, in addition to the RO190 million already invested since 2001. The company’s investment strategy includes Mal


Dubai residential property prices down 4.9pc

The residential property prices in the rental market in Dubai, UAE, plunged 4.9 per cent year-on-year (y-o-y) in March owing to a steep fall in apartment and villa prices compared to the same period last year, said a report. The Dubai Residential Property Sales Price Index for al


Call for new Saudi causeways to link Bahrain, Qatar

A senior municipal official in eastern Saudi Arabia has proposed the construction of two causeways linking the kingdom with neighbouring Bahrain and Qatar, said a report. The causeway between Al Ahsa and Bahrain would be 40 km long and would be located around 100 km from the King


Construction sector to boost MEA masterbatch market

The masterbatch market in the Middle East and Africa (MEA) region is projected to grow at a compound annual growth rate (CAGR) of over nine per cent in the next five years amid growing demand from the building and construction sectors besides packaging, said a report. Masterbatch


Barwa Real Estate plans to set up warehousing project

Barwa Real Estate Group, one of Qatar's largest listed real estate companies, plans to set up a warehousing project aimed at diversifying investments and increasing its presence in the local market, a senior Barwa official said in a report. Barwa plans to sign an agreement wi


Workers burn Saudi Binladin buses over reported layoffs

Protests over unpaid salaries and reported retrenchment of more than 50,000 foreign workers at  leading construction group Saudi Binladin took an ugly turn on Saturday when the disgruntled workers burnt company buses in Makkah, said a report. More than seven company buses we


Bahrain's Security 1 showcases top products

Security 1, a division of Ebrahim K Kanoo Group, had a successful participation in the Arabian MEP 2016 Exhibition held last month in Bahrain. Being a leading security and extra low voltage systems solution provider for fire safety, access control, intrusion detection, CCTV, audi


Barwa plans 12,000 housing units by 2020

Qatar-based Barwa Real Estate Group plans to complete the work on 12,000 residential units within the next four years in line with its commitment to provide homes to citizens at reasonable rents, said a report. Barwa, which has an existing 4,000 residential units, is aiming for t


$795m needed to complete stalled projects in Bahrain

It will cost around BD300 million ($795 million) to complete all of the stalled private developments in Bahrain, reported the Gulf Daily News, our sister publication, quoting an expert. To read further, please visit GDNonl

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