Emirates Stallions Group, a leading UAE conglomerate operating across construction and real estate sectors, has delivered double-digit growth across key financial indicators. Its revenue for the three-month period hit AED370 million ($100 million), while its net profit recorded a 29% growth.
Diyar Al Muharraq, a leading real estate development company in Bahrain, has announced the release of its premium residential seafront plots within its Mozoon development. This exclusive selection features 13 plots, meticulously positioned to offer direct and breathtaking views of the Main Canal.
Qatar-based Msheireb Properties has signed an agreement with Meeza to introduce its AI digital companion across its key development in a significant boost to its smart city capabilities. Developed by Hewlett Packard, the AI solution is being deployed across 15 smart kiosks throughout Msheireb Downtown Doha.
Leading Abu Dhabi developer Modon has announced the complete sell-out of Tara Park, a residential development on Reem Island, with the project generating AED2 billion ($544 million) in sales. It comprises six residential towers with 834 apartments across one-, two-, and three-bedroom layouts.
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.
