Saturday 24 February 2018

Saudi real estate financing to hit $133bn by 2020

The Saudi real estate financing sector has been witnessing a major surge over the last few years with the figure likely to hit SR502 billion ($133 billion) by 2020 from the current SR290 billion, said a report citing top experts at a real estate workshop in Riyadh. The workshop w


Emirates NBD inks Unec's Dubai project finance deal

Emirates NBD, a leading bank in the region, said it has successfully concluded financing amounting to Dh1.3 billion ($354 million) for Unec (United Engineering Construction Company) towards building work on Dubai-based property developer Nakheel’s Deira Mall project. The la


ASGC completes 20pc work on Emaar's Harbour Views

ASGC, one of the leading construction groups in the UAE, said it has achieved a major milestone on the Harbour Views project by Emaar in Dubai Creek Harbour with the raft to the eighth-floor level completed on time and achieving 20 per cent of overall progress in the construction of the two hig


Geze unveils retrofitting programme for Mideast

Geze, one of the world's leading developers of construction systems for doors, windows and safety technology, has unveiled a retrofitting application programme, R3, which has been tailor-made for the Middle East focusing on refurbishment, remodelling and replacement. Smart bu


Seef Properties posts $29m in net profit

Seef Properties, a leading integrated real estate company in Bahrain, has posted a net profit of BD11.06 million ($29.2 million) for 2017, compared to BD11.04 million the previous year thanks to its strategy focusing on real estate diversification. Announcing the results during a


Doha Cables wins $337m Qatar supply contract

Doha Cables has been awarded a two-year contract worth QR1.24 billion ($337 million) by Qatar General Electricity and Water Corporation (Kahramaa) for supply of low- and medium-voltage electric cables. As per the deal, the Qatari firm will supply six types of low- and medium-volt


Sezad signs two construction projects for Duqm Port

Oman’s Special Economic Zone Authority at Duqm (Sezad) has signed two agreements worth a total of RO48.4 million ($125.5 million) for the construction of a service corridor for Duqm Refinery products and two roads at Duqm Port. Sezad signed an agreement for the construction


Expo 2020 may help boost Dubai's still-slow real estate market

In 2017, Dubai residential property prices and rents declined by 5 to 10 per cent, as was expected, according to a report by ratings agency S&P. "This correction will continue at least for this year and next, before prices stabilize in 2020 at the earliest. How much stim


Jaleel to set up cash and carry FMCG store in Dubai

Jaleel Holdings, one of the UAE’s largest fast moving consumer goods (FMCG) wholesalers, will construct a cash-and-carry facility within the Dubai Wholesale City (DWSC), the region’s largest fully integrated wholesale hub, at an investment of Dh100 million ($27.2 million).


Emaar Development partners with Harvard University

Emaar Development, the property development business of Emaar Properties, has commissioned a special executive education custom programme by Harvard University’s Graduate School of Design on Dubai Creek Harbour: The Happy City. Through four Harvard Executive Education progr

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