Tuesday 31 March 2015

Egyptian group plans $261m tourism projects

Cleopatra Group for Real Estate Projects has announced plans to invest E£2 billion ($261 million) into tourism development projects at Marsa Allam area of Egypt  over the next two years, said a report. The project, which is currently under study, aims to add 1,200 hote


Nass Corporation appoints new director

Nass Corporation, a Bahraini public joint stock company, has appointed Hemant Joshi as a director on the board. Joshi's appointment was approved by the company's shareholders at the annual general meeting last week, said report in the Gulf Daily News (GDN), our s


Hyflux wins $260m desalination plant contract

Hyflux, a global integrated water and power solutions provider based in Singapore, said it has won a RO100 million ($260 million) contract from Oman Power and Water Procurement Company to develop an independent water project at Quriyat area of Oman. With a designed capacity of 20


Cayan, Shuaa seal Dubai mixed-use project deal

Cayan Group, a leading real estate investment group, has joined hands with investment firm Shuaa Capital to set up a real estate development fund which will be used for the construction of a Dh1 billion ($272 million) residential and  hotel apartment project located on the strategic Umm Su


GEM wins $65m Qatar land reclamation contract

Qatar-based Gulf Earth Moving (GEM), a subsidiary of Belgian group Aertssen, has won a QR239 million ($65.7 million)  land reclamation contract at The New Port Project in capital Doha. As per the deal, GEM will be in charge of dredging, reclamation and breakwater constructio


MAF Properties names new CEO

Majid Al Futtaim (MAF), the leading retail and leisure pioneer across the Middle East and North Africa (Mena), has appointed Bertrand Julien-Laferriere as the new chief executive officer of its property unit. The appointment will support the company’s strategic focus to exp


Diyar Al Muharraq signs third-party developer pact

Diyar Al Muharraq, one of the leading urban developers in Bahrain, said it has signed a memorandum of understanding with the Ministry of Works, Municipalities Affairs and Urban Planning to facilitate the process of issuing building permits for third-party developers at its ambitious Diyar Al Mu


Cityscape to discuss Saudi real estate challenges

Leading global players from the construction and property sector will discuss the new challenges facing Saudi Arabia’s real estate sector at the sixth Jeddah Urban Development and Real Estate Investment Event (Cityscape Jeddah 2015) next month. These include changes in gove


Vinci denies claim of forced labour in Qatar

French construction group Vinci has denied a claim from a campaign group over alleged forced labour involving migrant workers on building projects tied to the 2022 World Cup in Qatar. The Sherpa NGO said in a statement it had submitted a claim in a French court against Vinci Cons


Qatari developer awards $1.7bn Lusail contracts

Qatar-based Lusail City Real Estate Development Company (LCRDC) has awarded QR6.2-billion ($1.7 billion) contracts for development works at Lusail City, one of the country's high-profile real estate developments, said a report. The various construction packages include Lusail

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