Dubai Investments said its real estate subsidiary Dubai Investment Real Estate (DIR) has achieved a major milestone at its flagship Danah Bay development on Al Marjan Island, Ras Al Khaimah, by clocking 2 million safe working man-hours without a Lost Time Injury (LTI) across the residential and hotel towers.
Majority of construction professionals (58%) believe AI could help reduce workload across their two biggest challenges - keeping projects on schedule and managing mid-project changes - while 65% believe AI could streamline their biggest administrative time drains, according to a new study.
Abu Dhabi-based asset management company ALAIN has officially begun work on the debut Vida-branded residences in the UAE capital. On completion, the Vida Residences Saadiyat Island will feature 121 fully furnished one-, two- and three-bedroom residences along with key amenities.
Damac International has announced the launch of its premium project - Harir Residences - in the heart of Iraq’s capital. Located within its Damac Hills Baghdad community, it comprises two 12-storey towers, featuring a total of 210 apartments with a mix of one- to three-bedroom apartments.
Nasdaq Dubai has announced the successful listing of an AED1.1 billion ($300 million) dirham-denominated Islamic Treasury Sukuk issued by the Ministry of Finance. The additional amounts represent tap issuances of two existing series under the UAE Federal Government’s T-Sukuk Programme.
The GCC projects market experienced a slowdown in the first quarter due to the Middle East conflict with the total value of contracts plunging 9.7% to $61.2 billion, according to a report. This contraction was driven largely by a substantial downturn in contract awards within Saudi Arabia and UAE.
Qiddiya Investment Company (QIC), the developer of Qiddiya City, the capital of entertainment, sports, and culture in Saudi Arabia, has announced that it has signed up global technology leader Cisco to power its new smart office HQ through intelligent use of networking, collaboration and indoor navigation.
NMDC Energy, a key provider of engineering, procurement, and construction (EPC) services for offshore and onshore energy clients, delivered a solid performance in Q1 with its revenues surging 33% to hit AED5 billion ($1.36 billion), driven by the continued execution of its robust project backlog.
Epiroc, a global productivity partner for mining and construction, has unveiled its new EC 122 hydraulic breaker, engineered to deliver improved handling, extended service life, and simplified maintenance. The new model is 80 kg lighter than its predecessor, reducing overall carrier load and improving maneuverability
UAE-based smart and green facilities management (FM) company Farnek has rolled out a new flexible FM proposition. Its adjustable contract will enable educational institutions to switch between three distinct operational modes within 24 hours to align with campus usage.
