Friday 24 May 2024
 
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Glass Technology Services breaks ground on $95m RAK plant

Glass Technology has broken ground on its manufacturing plant being set up on a 113,000-sq-m area within the Al Ghail Industrial Zone at Ras Al Khaimah.   A specialist in producing solar panel glass, Glass Technology is setting up the key facility at an investme

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KSA signs record-breaking PPA for 1,100MW wind projects

Saudi Power Procurement Company (SPPC) has signed two power purchase agreements (PPAs) with a consortium led by top Japanese business conglomerate Marubeni Corporation to procure power from its key wind projects - 600MW AlGhat and 500MW Wa'ad Alshamal.   Thi

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India's Kalpataru Projects lands $906m Saudi Aramco's EPC work

India's Kalpataru Projects International Limited (KPIL) has announced that it has secured a major contract worth SAR3.4 billion ($906.6 million) from Saudi energy giant Aramco for carrying out engineering, procurement and construction (EPC) work for three packages of the third expansion p

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Bouygues, Plenary, Alghanim vying for Oman mixed-use project

Six major players in the project development sector are in the race to develop Oman Business Gateway, a mixed-use project in Muscat featuring commercial assets such as office spaces, residential units, retail outlets, as well as a hotel, reported Muscat Daily.  

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Baheej Tourism unveils first tourist destination in Yanbu

Baheej Tourism Development Company, a joint venture between Asfar, the Saudi tourism investment company owned by PIF, and the Tamimi-AWN Alliance, has announced the development of the waterfront area of the Royal Commission at Yanbu. Their first project in Yanbu will cover an area of 3

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Mideast family offices invest more in real estate: UBS

Middle Eastern family offices continue to hold a high allocation to alternative investments with, on average, the highest allocations to real estate (15%), as the local market is thriving.    They also see AI as one of the most promising areas to invest in

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Saadiyat Cultural District Abu Dhabi on track for 2025 completion

Abu Dhabi’s Saadiyat Cultural District, along with its cultural institutions, is on track for completion in 2025, according to the Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi).     Saadiyat Cultural District is

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Alwasail wins supply contract for NHC residential projects

Saudi-based Alwasail Industrial Company has announced that it has secured a major supply contract from National Housing Company (NHC) for its key residential projects.   An industrial machinery manufacturing company, Alwasail is a leading manufacturer of polyeth

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UAE proptech group Huspy secures fresh round of investment

  Huspy, a property technology company headquartered in the UAE, with operations in Dubai, Abu Dhabi and Madrid, has announced that it has raised a funding round led by Balderton Capital, with further participation from existing investor Fifth Wall, amongst other inv

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HNWIs to pump $4.4bn into Dubai residential market: Knight Frank

High-net-worth individuals (HNWIs) around the world are prepared to spend $4.4 billion on residential real estate in Dubai, claimed global property consultancy, Knight Frank in its second annual 2024 Destination Dubai report.    Knight Frank said it had sur

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