Saturday 25 February 2017

Empower’s 2016 net profits top $174m

Emirates Central Cooling Systems Corporation (Empower), the world’s largest district cooling services provider, has posted a net profit of Dh641 million ($174.5million) for 2016. Total revenues for the year reached Dh1.84 billion, which indicates an 11 per cent increase for


Cortec rolls out corrosion inhibiting additive

Cortec, a leader in corrosion control technologies, has introduced a new corrosion inhibiting additive which is compatible with diesel fuel tanks and systems. Corrosion is a common problem on carbon steel components shipped overseas or stored for months in humid climates. Metals


QInvest exits prime London property fund

Qatar’s leading Islamic investment bank QInvest said it has successfully exited St. Edmund’s Terrace LP Fund, a prime London Sharia’a residential real-estate fund, after netting 22 per cent returns for its investors. The fund was jointly owned by QInvest and a r


URC to develop new spa in Jordan's Abdali Mall

Kuwait’s leading diversified real estate development company, United Real Estate Company (URC), has signed an agreement with Jordan's Al-Adnani Group, to launch a new signature health spa in its Abdali Mall, in Amman. The 929-sq-m women only spa will operate under the s


Saint-Gobain builds first multi-comfort home in UAE

Saint Gobain, a world leader in the habitat and construction markets, has chosen Masdar City, one of the world’s most sustainable urban developments coming up in Abu Dhabi, UAE for construction of its first  “positive-energy” home in the region. Set for com


Currency fluctuation hits Dubai property market

An analysis of major cities that rely on foreign inflows for real estate purchases have shown mixed trends on the fluctuation of the dollar, said a report by property experts. An analysis of property prices over the last 10 years in the major cities driven by foreign investment - New Y


Mott MacDonald acquires UAE consultancy firm

Mott MacDonald, a multidisciplinary consultancy, said it has acquired Wideurope Engineering, a major engineering and design company based in Fujairah, the UAE. Established in 2002, Wideurope Engineering employs over 50 people across its offices in Dubai and Fujairah in the UAE an


Egypt to start work on Phase I of $45bn Capital City

Egypt said preparations were underway for the launch of the first phase of the new $45 billion Capital City which will boast several key amenities such as a business and finance centre, an exhibition fair city and residential units on 10,500 acres of land in Cairo. Dubbed as Egyp


Dubai building classification work 50pc over

Dubai Land Department (DLD) has announced that its work on Dubai’s Building Classification project is now being carried out at an accelerated pace, with the organisation expecting to complete its survey of all buildings across the Emirate this year. The announcement came fo


Dubai to launch unified lease form in March

The Dubai Land Department (DLD) has announced the launch of its Unified Lease Form, contracts which will become a mandatory procedure starting in March. In line with DLD's aim to create a transparent and professional real estate market with measurable standards, the new form

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