Friday 4 September 2015

Abu Dhabi Ports on track to set up Maqta Gateway

Abu Dhabi Ports (ADP), a top operator of ports, completed the halfway mark of stage I implementation of Maqta Gateway, with which ADP sees full integration of all electronic messaging for transactions processing among port users. The testing of these message flows will continue w


Jabal Omar cancels $426m Makkah contract

Jabal Omar Development Company, the largest listed real estate developer in Saudi Arabia by market capitalisation, said it has canceled a SR1.6 billion ($426 million) contract awarded to Ruwad Civil Construction. Ruwad was awarded the contract in July to build the fifth phase of


British investors on UAE property buying spree

British investors are showing no signs of slowing down after pumping more than Dh4.7 billion ($1.27 billion) into the UAE real estate market in the first half of 2015, said a report. According to the Dubai Land Department, the total sum of foreign investment in Dubai’s prop


RP Global partners with Jumeirah for iconic tower

Leading property investment company RP Global has signed up Dubai-based hospitality group Jumeirah to operate a luxury hotel and the residences within its $1 billion iconic tower RP One. The Jumeirah Business Bay will include a 200-room luxury Jumeirah hotel as well as 350 servic


Saudi Khurais oilfield expansion delayed

The expansion of Saudi Arabia's Khurais oilfield is expected to be delayed from the originally planned timeframe of 2017 and the start-up date is now unclear, industry sources said. The sources said authorities had not given reasons for the delay. However, since global oil pr


Damac to hand over Dubai South homes in 2016

Luxury real estate developer Damac Properties is to deliver the first homes within its flagship project, Dubai South, over the  next six months. The 145-sq-km city, which includes the Al Maktoum International Airport and the site for the World Expo 2020, has been re-branded


Oman to award $44bn infrastructure contracts

Oman is set to award tenders and contracts worth RO17 billion ($44 billion) for several major infrsatructure projects across the country during a two-day business summit in November. The Business Opportunities Forum 2015, which kicks off on November 16 coinciding with Oman’


Oman’s $170m terminal to boost food security

A major agricultural handling terminal being built with an investment of $170 million in Oman at Sohar Port and Freezone will boost the development of a strategic food storage and distribution hub serving the region, a report said. “Work on the new agro-terminal has already


Galfar wins Qatar infrastructure works deal

Qatar-based Galfar Al Misnad Engineering and Contracting has won a QR856 million ($234 million) contract from the state economic zones company (Manateq) to develop the infrastructure in the Al Wakrah logistic services area, said a report. The project covers a total area of 6.6 sq


No progress on Egypt homes project: Arabtec

United Arab Emirates-based builder Arabtec on Wednesday denied a media report that it would only develop the first phase of a project in Egypt to build one million homes. The company announced more than a year ago that it had agreed in principle with the Egyptian government to bu

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