News / Middle East

Arabtec Wins USD 115 mn Damac Contract for 916 villas

Arabtec Construction, a wholly owned subsidiary of leading infrastructure contractor Arabtec Holding, has been awarded a USD 115.4 mn contract from Damac Properties for the construction of 916 villas in the Akoya Oxygen master development,

15 Kuwaiti Construction Companies to Declare Bankruptcy Soon

Fifteen construction companies in Kuwait are expected to declare bankruptcy soon due to lack of liquidity and hence inability to fulfill their financial commitments to complete suspended projects for over three years

UAE’s Government Forms New Abu Dhabi Development Holding Company

UAE President His Highness Sheikh Khalifa bin Zayed Al Nahyan has issued a law to establish the Abu Dhabi Development Holding Company (ADDHC) as a public joint stock company

Dubai’s Binghatti Developers to launch USD 109 mn project on Dubai’s Water Canal

UAE-based Binghatti Developers has started building USD 109 mn 'Millennium Binghatti Residences,' its first recognizable project on Dubai’s Water Canal in the rapidly growing Business Bay

Dubai Registers 150 Real Estate Projects Worth USD 22.34 bn in 2017

The Dubai Land Department (DLD) announced that 90 projects were completed and 150 projects worth USD 22.34 bn were registered in Dubai in 2017

Saudi Arabia to Invest USD 64 bn in the Entertainment Sector

Saudi Arabia plans to invest USD 64 bn in developing its entertainment sector over the next decade, Ahmed Bin Aqeel Al-Khatib, chairman of the Saudi General Entertainment Authority (GEA) said

Emirates NBD Concludes UNEC Financing Deal

Emirates NBD, a leading Dubai-based bank, has concluded financing an amount of USD 354 mn for United Engineering Construction Company (UNEC) to be used in construction work on Nakheel’s Deira Mall project

Saudi Real Estate Funding to Hit USD 133 bn by 2020

The growing Saudi real estate financing sector is expected to hit USD 133 bn by 2020 from the current USD 77 bn

Shurooq, Mabanee to Develop Tourist, Leisure Project

Sharjah Investment and Development Authority (Shurooq) has signed a strategic partnership deal with Kuwaiti real estate group Mabanee to develop a premium tourist and leisure project

Azizi Developments to Build Dubai Skyscraper by Mid-2018

Dubai’s real estate developer Azizi Developments plans to build a mega structure along Shaikh Zayed Road in the summer of 2018

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