Saturday 20 December 2014

6,000 homes to be distributed to Bahraini families

A record number of 6,166 new homes will be distributed to Bahraini families this week, it has been revealed. At a media briefing held after the weekly Cabinet session yesterday (December 15), Housing Minister Bassem Al Hamer said that a draw will be held for the new homes on Dece


Aldar to cut debt by over a third within two years

Abu Dhabi's Aldar Properties will cut its debts by more than a third over the next two years, its chief financial officer said on Monday, extending a trend that has already led to credit agencies upgrading their ratings on the company. Aldar, 34 per cent-owned by Abu Dhabi go


Private capital inflows boosting Dubai infrastructure

Dubai's economy is benefiting from huge private capital inflows leading to the acceleration of infrastructure-related growth in the first three quarters of 2014, indicating that strong opportunities exist, said a report. Another critical factor that is shaping the business la


District cooling solutions in focus at Dubai conference

An exhibition showcasing recent development in district cooling (DC) solutions opened today (December 15) in Dubai, UAE. The two-day sixth Idea international district cooling conference is being organised by the International District Energy Association (Idea) and hosted by Emira


Brazil building products export to GCC top $25m

The export of building materials from Brazil to the GCC region for the third quarter of this year has reached $25.61 million, the Arab-Brazilian Chamber of Commerce (ABCC) has revealed. In addition, the total level of machinery exports from Brazil to the GCC region from January t


Corodex wins award for 'green' wastewater system

Corodex Industries, part of Concorde-Corodex Group (CCG), one of the Middle East’s pioneering providers of water, wastewater treatment and environmental services, has won the Manufacturer of the Year award in the air treatment category at this year’s Climate Control Awards in Dubai,


Adib provides $272m refinancing for Baniyas projects

UAE-based Abu Dhabi Islamic Bank (Adib) has finalised a Dh1-billion ($272 million) financing facility to Baniyas Investment & Development Company (BIDC) to refinance the latter's construction projects in the UAE capital. The transaction is to refinance the existing conventional


QNB, Savills sign real estate agreement

Qatar National Bank (QNB) has signed a new partnership agreement with Savills, a global real estate services provider, to source and identify residential and commercial properties internationally for its affluent local and regional members. According to the agreement, Savills wil


Dubai investors looking for stable rental returns

As real estate asset prices in Dubai stabilise and start to trend lower in certain areas, the emirate has entered the 'new normal' with investors beginning to hunt for stable rental returns, a report said. Historically, the greatest price appreciation has been occurred in


Egypt plans world's largest food storage system

Egypt has collaborated with US-based Blumberg Grain, a leading global food security company, in a move to develop one of the world's largest integrated food security systems for grain storage. The first phase of the new food security project covers 93 sites across Egypt, and

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