Sunday 26 October 2014

Saudi builder Khodari's Q3 net profit up 23pc

Major Saudi Arabian construction firm Abdullah Abdul Mohsin Al Khodari Sons has reported a 23.1 per cent rise in its third-quarter net profit in line with analysts' estimates. The company made a profit of SR15 million ($4 million) in the three months to September 30, up from


Egypt eyes illegal buildings for tackling housing crisis

Egypt plans to offer cheap loans for completing apartments in unfinished buildings thrown up illegally across its cities, hoping to tackle a housing crisis that has helped to topple two presidents since 2011. Housing Minister Mustafa Madbouly said the cabinet had approved the pro


Aldar to launch new projects in three months

Abu Dhabi's Aldar Properties will launch a few new projects in the next three to four months, the real estate developer's chief financial officer said on Wednesday. Aldar, Abu Dhabi's largest property company which is majority-owned by the emirate's government, wa


Louvre Abu Dhabi in new dome installation milestone

Abu Dhabi's Tourism Development & Investment Company (TDIC) has announced the full installation of the 7,000-tonne Louvre Abu Dhabi dome structure, which consists of 85 super-sized steel elements. The work on the last of those 85 pieces has finished, completing today the


Saudi group to spend $1.6bn on real estate

Al Anwa for Investment & Real Estate Development, the property arm of Saudi-based Al Ibrahim Investment Group, has announced plans to develop a series of hospitality and residential projects across the kingdom at an investment of over SR6 billion ($1.6 billion) over the next four years.


Dubai's RTA wins special award for rail work

Dubai's Roads & Transport Authority (RTA) received a special award at the annual Meed Mena Rail & Metro Summit held last night in Dubai, UAE, in recognition of the contribution it has made to the development of passenger rail travel in the Middle East. The award was a


Cherry Brown clinches HBA office fit-out contract

Hirsch Bedner Associates (HBA), a leading hospitality design company, has roped in UAE-based Cherry Brown Interiors for the turn key fit-out of its new UAE office in Dubai. All the necessary elements of the work at the new facility at iRise Tower in Tecom are being managed by one


RCA to launch ground-breaking design innovations

The London-based Royal College of Art (RCA) will launch three groundbreaking projects featuring some of the world’s most promising new technologies at the upcoming Downtown Design event in Dubai, UAE. The Middle East’s leading platform for original design, Downtown Design w


Qatar to spend $205bn on infrastructure

Qatar is set to spend as much as $205 billion on infrastructure over the next four years, prioritising sectors such as housing, transport infrastructure, power, water and sewage facilities, said experts. In spite of growing storm clouds over the global economy, Qatar is set to pu


Dubai sees steady increase in land prices

With an expanding significance of freehold in Dubai, UAE, land prices will continue to gather momentum, especially towards the build-up for the World Expo 2020, said a report. As Dubai's real estate market enters its third cycle of 2014, the big question many investors and de

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