Tuesday 24 January 2017
 
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Dubai’s property deals top $3.2bn in 15 days of 2017

Dubai’s real estate market has started the new year with a bang, generating Dh12 billion ($3.26 billion) transactions in just 15 days, said a report from Dubai Land Department (DLD). The land plots recorded 520 transactions worth Dh7.511 billion, while land sales claimed th

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McDermott names Saudi general manager

McDermott Arabia, a leading engineering, procurement, construction and installation (EPCI) contractor, has appointed Dustin Whiteley as the general manager for its Saudi Arabia business.     Dustin, who holds a degree in structural engineering from New Mexico State Unive

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GE wins $1.4bn power plant contracts in Iraq

General Electric (GE) has secured more than $1.4 billion in orders from Iraq’s Ministry of Electricity to set up power plants as well as provide technology upgrades and maintenance services. The announcement further strengthens GE’s collaborations in Iraq to support t

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McDermott wins Saudi Aramco EPCI contract

McDermott International said it was secured a major contract from Saudi Aramco to provide engineering, procurement, construction and installation (EPCI) services to four jackets and three gas observation platforms offshore Saudi Arabia. Work on the contract is expected to be exec

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Masdar to build waste-to-energy plant in Sharjah

Abu Dhabi’s renewable energy company Masdar said it plans to build a cutting-edge waste-to-energy plant in Sharjah, UAE, in partnership with Bee’ah, a leading environmental management company in the Middle East. Announcing this today at Abu Dhabi Sustainability Week 2

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Sico, Trucial in US property fund partnership

Bahrain’s Securities & Investment Company (Sico) has entered into a strategic partnership with Dubai-based Trucial Investment Partners, an asset management and advisory to manage a US real estate fund. The partnership was signed by Sico chief executive Najla Al Shirawi

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Nakheel invests $41m in building cycle tracks in Dubai

Dubai-based master developer Nakheel is investing Dh150 million ($40.8 million) in bringing 105 km of bicycle tracks to its communities across the UAE emirate, with all routes linked to the government’s Cycling Masterplan. Safe, scenic bike routes are being created to encou

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Gulf Mining plans big industry investment

Oman-based Gulf Mining Group plans to invest in a substantive portfolio of mining-related ventures including a potash mine over the 2017-2018 timeframe, a report said. Planned initiatives include investments in a new calcium carbonate project in Sohar, a ferro-manganese smelter i

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Tabreed acquires key district cooling plant in UAE

UAE-based National Central Cooling Company (Tabreed) said it has acquired a district cooling plant from International Capital Trading (ICT) resulting in the addition of more than 11,500 refrigeration tons (RT) of cooling to its existing connected capacity. With this acquisition,

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KAEC to handover key residential plots

King Abdullah Economic City (KAEC), a special economic zone on Saudi Arabia's Red Sea coast, will start handing over the single family residential land plots in Phase Three of the Al Talah Gardens district following completion of the infrastructure work at the development. Th

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