Monday 24 April 2017

Gulf hospitality projects value exceeds $148.4bn in Q1

The total value of the GCC's 1,153 hospitality projects exceeded Dh544.62 billion ($148.2 billion) in the first quarter of 2017, according to BNC Network, a leading project research and intelligence provider in the Middle East and North Africa (Mena) region. The GCC's hos


Top French firms unveil big Project Qatar plans

Leading French companies will be showcasing their innovative products and technologies to local construction professionals at the Project Qatar expo to be held from May 8 to 11 in Doha. The French Pavilion, being  hosted by Business France, national agency supporting the int


Damac launches premium hotel property in Dubai

Damac Properties, a leading luxury real estate developer in the region, said it has launched Golfotel, the only premium five-tower hotel property surrounded by a golf course in Dubai, UAE. An ambitious project for the company, Golfotel will feature over 2,000 well-appointed conte


Residential tenants witness ‘Golden Age’ in Bahrain

Weakening economic conditions, tapering off in demand for oil and gas, and an increase in real estate supply has led to increased pressure on the Bahrain real estate industry, according to leading real estate consultancy Cluttons. The result is a market defined by increased incen


Work starts on key Bahrain road project

Bahrain's Ministry of Works, Municipalities Affairs and Urban Planning has started work on the revamp of Road 3323 at Block 933 in Riffa area that serves 42 housing units. The BD298,135 ($785,227) project, which is part of the ministry’s plan to improve infrastructure s


Amec Foster Wheeler wins Jordan power project deal

Amec Foster Wheeler, a leading engineering and project management company, has secured a new contract from China's Guangdong Power Engineering Company (GPEC), to design and supply two circulating fluidised-bed (CFB) steam generator boilers for a power plant project in Amman, Jordan.


Binghatti wins big at Gulf Real Estate Awards

Binghatti Developers, an innovative Dubai-based property group, has been awarded the Best Architecture Company award at the region’s premier real estate awards - Gulf Real Estate Awards. The award was presented to Muhammad BinGhatti, the CEO and head of architecture, by Sul


Mubadala unit seals $2.5bn French equity deal

UAE-based Mubadala Development Company said its financial investment arm has announced a $2.5-billion investment deal with French private equity firm Ardian, which includes the creation of a private equity fund. As per the agreement, Ardian will invest $1.75 billion to acquire a


Ithra Dubai starts work on two landmark projects

Ithra Dubai, a real estate developer and asset manager, said work has started on two of its landmark projects in Dubai, UAE - One Za’abeel and Deira Enrichment Project. A wholly-owned company of Investment Corporation of Dubai (ICD), Ithra Dubai was established to develop r


Saudi Arabia set to build five hitech hospitals

The Saudi government has launched health projects worth more than SR1.1 billion ($293 million) in the Najran region of the kingdom, said a report. The projects include development of five modern hospitals, two healthcare units, a specialised dental centre and 13 primary health ca

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