Tuesday 1 December 2015

Subsidy cuts 'may hit Bahrain’s real estate market'

Plans by the Bahraini government to remove fuel and utility subsidies are likely to have a long-term impact on the kingdom’s industrial and residential property markets, according to leading international real estate consultants, Cluttons. Harry Goodson-Wickes, the head of


KMC inks gulfBID sponsorship deal

Kuwaiti Manager Contracting (KMC), a leading player in the construction sector, has signed up as a strategic sponsor for the Gulf BID, the Northern gulf’s leading annual expo for the GCC’s construction sector, which opens in Bahrain next year. The annual three-day sho


Dubai residential property value down in Q3

House price growth in Dubai appears to be slowing, with a bottoming out in the market likely to happen at the tail of 2016, according to international real estate consultancy Cluttons. The values for both apartments (down 0.8 per cent) and villas (down 0.5 per cent) dipped margin


Ideal Standard rolls out innovative products at Big 5

Ideal Standard, a leading provider of innovative total bathroom solutions operating across Europe, Middle East and Africa, unveiled its latest product portfolio at the Big 5 expo in Dubai, UAE. At the exhibition, which concludes tomorrow (November 26) at Dubai World Trade


Kuwait awards $30bn projects despite low oil

Kuwait has awarded projects worth a record $30 billion so far this year and has more than $251 billion development schemes planned or underway despite the sharp fall in oil income, said experts. They were speaking at a key industry conference hosted by Middle East Economic Digest (Meed


Oman petchem company to award $4.5bn contracts

State-owned Oman Oil Refineries and Petroleum Industries Comopany (Orpic) said it had finalised negotiations with preferred bidders for $4.5 billion worth of contracts to build a major plastics complex in the sultanate. The four engineering, procurement and contracting packages w


Abu Dhabi developer opens office in Bahrain

Eagle Hills, an Abu Dhabi-based private real estate investment company and developer, has launched its official operational in-country office in Bahrain.   In November last year, the company signed a joint venture agreement with Diyar Al Muharraq to roll out its


Saudi builder Binladin to cut about 15,000 jobs

Construction company Saudi Binladin Group plans to cut about 15,000 staff, people with knowledge of the matter told Reuters, in a sign of the pressure on the industry as the Saudi government trims spending in response to low oil prices. The possible layoffs at Binladin, one of Sa


UAE developer plans mixed-use project in Georgia

Green Valley International Real Estate Group, one of UAE’s leading conglomerates specialised in real estate development, investment and holdings, has announced the launch of its Dh500 million ($137 million) project in Tbilisi, Georgia. The Green Valley City project is spread over


Serco wins Dubai monorail contract extension

UK-based Serco Group, an international services company, said it has won a five-year extension from regional developer Nakheel to operate and maintain the Palm Jumeirah Monorail System in Dubai, UAE. Nakheel’s Palm Monorail System extends 5.3km from Gateway Towers (landside

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