Wednesday 22 October 2014

Dubai residential rentals, sales price slow down

Dubai’s real estate sector witnessed further stabilisation and a slowing down of both rental rates and sales prices of apartments and villas in the third quarter, said a report. The downward trend continued for the third quarter in a row, stated real estate consultancy Aste


Bahrain approves law to protect property investors

A new law designed to resolve failed multimillion-dinar investment projects and protect investors was approved by Bahrain’s Cabinet yesterday (October 19). The new bill is intended to overcome problems at stalled property developments and will be presented to His Majesty Ki


Tebyan names contractor for Sparkle Towers project

Dubai-based property developer Tebyan has appointed Sun Engineering and Contracting Company as the main contractor for the construction of Sparkle Towers, an ultra-luxurious residential landmark in Dubai, UAE. Branded as ‘Space Marveled by Swarovski’, the towers at Du


Saudi Arabia sees steady office rental growth

The office market in Saudi Arabia continued to witness solid growth in the third quarter with key cities Riyadh and Jeddah registering a steady rise in average rental rates, said a report. The average rentals in the Riyadh office market have remained unchanged over the last quarter, st


Yokogawa wins Rabigh 2 contract

A unit of Yokogawa Electric Corporation has won an order from Samsung C&T Corporation to supply control systems for the Rabigh 2 combined cycle power plant, being built in Rabigh on Saudi Arabia's Red Sea coast. This power plant will have three 700 MW combined cycle power units


Doha's premier marina set for expansion

Mourjan Marinas – Lusail City, the premier marina in Qatar's capital Doha, has begun construction of 49 new modern floating berths in response to increasingly high demand for new docks in the country. Mourjan Marinas – Lusail City lies at the heart of the prestigi


Indian building firm plans new plant in UAE

Everest Industries, a leading Indian manufacturer of building solution products, plans to set up a fibre cement board plant in the UAE as part of its global expansion strategy, said a report. Fibre cement is a composite building and construction material, used mainly in roofing and fac


Egypt signs deals with six firms to dredge new Suez Canal

Egypt signed contracts with six international firms on Saturday to carry out dredging of the new Suez Canal, the flagship project in President Abdel Fattah al-Sisi's programme to revive an economy battered by years of political turmoil. The companies are National Marine Dredg


Arabtec to launch huge Egypt homes project by year-end

UAE-based construction firm Arabtec plans to launch the first phase of a huge housing project in Egypt before the end of this year, the company said on Sunday. In March, Arabtec announced it would build one million homes in Egypt in a $40-billion project backed by the Egyptian an


Teyban celebrates 'Sparkle Towers at Dubai' launch

Tebyan, an innovator in property development, has announced the official launch of its 'Sparkle Towers at Dubai Marina' project which is expected to be completed in December 2016. The company hosted a ceremony to mark the launch which was attended by Peter Elsner-Mackay,

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