Persistent payment delays and rising default concerns are putting increasing pressure on liquidity and cash flow management in the UAE, says the latest Atradius Payment Practices Barometer.
As construction activity accelerates across Saudi Arabia, project teams are under increasing pressure to make informed procurement decisions, comply with evolving regulations and deliver projects efficiently. Against this backdrop, Big 5 Construct Saudi kicks off in Riyadh this month bringing together more than 1,000 local and international exhibitors, said the event organisers.
The Sports Boulevard Foundation has signed contracts with Saudi-based Rikaz Properties to establish the third real estate investment fund with a combined value of more than $186 million that will aim to develop key assets within Urban Wadi in the city of Riyadh.
Versatile International, the first fully integrated stone project management consultancy in the Middle East region, has started providing stone advisory services for Qiddiya City, one of the world’s most ambitious integrated city developments coming up in Saudi Arabia.
Egis, a leader in architecture, consulting, construction engineering, operations and maintenance services firm, has appointed Steven Scott as its regional director of advisory business across Mideast and South Asia. An industry veteran, he has 34 years of experience in development and infrastructure consulting, including 18 in the region.
Dubai Electricity and Water Authority (Dewa) has announced that it has commissioned 793 new 11kV substations across the emirate during the first six months. The construction and associated works involved 624,340 man-hours, all completed under stringent safety standards.
Shamal Holding, a UAE diversified investment company, has awarded the main works contract to Dutco Construction for its new residential project on the former Dubai Zoo site in Jumeirah 1. Once completed, it will boast 90 low-rise homes that blend refined architecture, nature and connected living.
China's Anta Scaffolding has been named the specialised scaffolding contractor for a part of the mega Al Maktoum International Airport project in Dubai. Its scope of work covers scaffolding works tied to the underground structural construction, including those related to the underground tunnel sections.
Q Mobility, a leading operator of public parking in the Emirate of Abu Dhabi, and Parkin Company, the largest provider of public parking facilities and services in Dubai, have signed a memorandum of understanding (MoU) to strengthen collaboration on smart parking solutions and enhance digital integration between the parking ecosystems of the two emirates.
Dubai Municipality has announced the launch of an innovative project to develop an AI-powered system that will fully automate the building permit issuance process. It represents a major leap forward in the delivery of building permit services by allowing customers to conduct pre-submission design checks.
