Thursday 15 November 2018

Virgin Hyperloop One 'at Big 5 construction summit'

Virgin Hyperloop One, a pioneer in development of a full-scale hyperloop system, will be highlighting the role of its technology in building future cities at the FutureTech Construction Summit in Dubai. The event is being held as part of The Big 5, the largest construction event


Meraas in deal to promote Dubai as global yachting capital

UAE developer Meraas, in partnership with Dubai Holding, has signed an agreement with D-Marin, operator of the largest chain of marinas in the Eastern Mediterranean, to attract international investments in the yacht sector and promote Dubai as the preferred destination for luxury yachting and b


Unique, Innovo complete key Mideast offshore project

Unique Group, one of the world’s leading integrated subsea and offshore solution providers, has joined forces with Innovo, an engineering, construction and equipment rental company, to successfully complete a multi-million dollar decommissioning contract for Italian global marine, oil and


Union Properties swings to nine-month net profit

Union Properties, a leading real estate company based in Dubai, UAE, said it has recorded a net profit of Dh145.6 million ($40 million) for the first nine months of 2018, compared to a net loss of Dh2.3 billion ($626 million) for the same period last year. Announcing the results


DLD opens new real estate office in New York

The Dubai Land Department (DLD) said it has opened a real estate promotion office in New York, US, in partnership with Aqari Global ‘Century 21, as part of its efforts to promote investment opportunities in Dubai’s burgeoning real estate market. Sultan Butti bin Mejre


Bahrain seeks consultancy bids for $4bn Saudi causeway

Bahrain's King Fahd Causeway Authority (KFCA) said it has invited bids from qualified transaction advisory services consultancies for implementing the transitional phase of King Hamad Causeway, a 25-km-long strategic artery linking the kingdom with Saudi Arabia to be built at an investment


Saudi KAEC awards $319m construction contracts in 2018

Saudi Arabia’s King Abdullah Economic City (KAEC), the largest privately-funded new city in the world, said it has awarded new construction and development contracts worth more than SR1.2 billion ($319 million) from the beginning of this year. Of these contracts, around 20


Arcapita acquires industrial real estate in US

Arcapita, a global leader in Shari’ah-compliant alternative investments, has acquired a seven-property industrial real estate portfolio in Cleveland, Ohio, US.    The Cleveland portfolio comprises 655,000 sq ft of high-quality industrial assets within


SDF-funded Bahrain housing projects on track

Bahraini authorities said work on all the projects being financed by the Saudi Development Fund (SDF), including the Khalifa Town, Al Ramli amd Wadi Al Seel housing projects, was progressing at a steady pace and as per schedule, said a report. The Ministry of Housing officials co


Jeddah starts work on $799m rainwater drainage project

Saudi government has started work on a comprehensive rainwater drainage project in Jeddah covering 30 critical and sensitive locations in the city, said a report. The project, which is estimated to cost SR3 billion ($799 million), is being implemented in different phases, reporte

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