Wednesday 21 February 2018
 
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Damac's 2017 revenue surges 4pc to $2.04bn

Damac Properties, a leading player in the UAE luxury real estate development sector, has reported a total revenue of Dh7.5 billion ($2.04 billion) for 2017, up four per cent over last year besides clocking a net profit of Dh2.8 billion ($762 million). Announcing the financial res

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One Za'abeel celebrates record concrete pour

One Za’abeel, an iconic new high-rise mixed development that will tower over Zabeel Park in Dubai, UAE, has successfully completed the record pouring of 26,000 cu m of concrete over a 7,600-sq-m raft foundation footprint, said the project's main contractor. The whole pr

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Sebacic to build bio-based nylon project in Duqm

Sebacic Oman plans to build a bio-based nylon project as forward integration of its soon-to-be-commissioned sebacic acid project in the Duqm free zone of the sultanate, said a report. The 10,000-tonne-per-annum-capacity project, which is expected to produce two grades of bio-nylo

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BMT completes Dubai Creek Tower design study

BMT, a leading international design, engineering, science and risk management consultancy, said it has completed key studies on the design for the Dubai Creek Tower. An iconic building being developed by Emaar Properties has been designed by world-renowned architect and engineer

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Drake & Scull International swings to Q4 profit

Drake & Scull International, a regional leader in engineering and construction services, is back in the black  with a net profit of Dh700,000 ($190,549) for the fourth quarter in 2017 compared to a net loss of Dh359 million the previous quarter. Announcing the preliminar

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Alec wins Dubai Hills Mall solar project deal

Leading construction company Alec Engineering and Contracting said its renewable energy business unit has been awarded a major contract by Emaar Development to develop a 6.5 MWp private solar power plant for its Dubai Hills Mall project. The retail destination is the latest addit

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Leminar opens second showroom in Abu Dhabi

Leminar Air Conditioning Company, a leading distributor and service provider of HVAC (heating, ventilation and air-conditioning) and plumbing products in the Gulf region, has opened its second showroom in Abu Dhabi, UAE. Located in the Mussafah area, the new showroom will complem

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ME hotel room construction up 22.4pc in January

The number of hotel rooms under construction in the Middle East during January has risen by 22.4 per cent compared with the same month of 2017, said STR, a global provider of analytics and marketplace insights. The Africa room construction total represented a 13.8 per cent decrea

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Emaar Malls posts 11pc jump in net profit

Emaar Malls, the shopping malls and retail business majority-owned by Emaar Properties, has recorded a net profit of Dh2.080 billion ($566 million) in 2017, 11 per cent higher than the net profit of Dh1.874 billion ($510 million) during 2016. Announcing the results for the full-y

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PDO, GlassPoint inaugurate Oman solar plant

Petroleum Development Oman (PDO) and GlassPoint Solar have inaugurated the Miraah solar plant, located at the Amal oilfield in the south of Oman. The plant will be among the world’s largest solar projects on completion.   The inauguration took place under the patronage

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