Dubai’s Drake & Scull In Talks with Banks to Sell Plots of Land

• Thursday, 22nd June 2017
• by Menna A. Farouk

Dubai-based building contractor Drake and Scull International PJSC (DSI) is in talks with banks to divest some of its assets, Reuters reports.

Arabtec Board Nods to Capital Raise

• Wednesday, 21st June 2017
• by Menna A. Farouk

Dubai’s developer Arabtec Holding’s BoD approved on Sunday, April 18, the increase of its capital by AED 1.5 bn, Invest-Gate reports.  

Abu Dhabi to See Infrastructure Upgrade Works Worth AED 109 mn

• Wednesday, 21st June 2017
• by Menna A. Farouk

Abu Dhabi City Municipality announces improvement works to be implemented on the Sheikh Zayed Tunnel and Street in Abu Dhabi, at investments valued at AED 109 mn, WAM news agency reports.  

GCC Proposes 31% Tariffs on Steel Imports

• Tuesday, 20th June 2017
• by Menna A. Farouk

The GCC countries are proposing a 31% safeguard tariff on steel imports to protect the industry from cheap products, Invest-Gate reports.

Saudi Arabia Has USD 250 bn in the Pipeline

• Tuesday, 20th June 2017
• by Menna A. Farouk

Saudi Arabia has over USD 250 bn worth of projects in the pipeline, with their main construction contracts are yet to be awarded, Invest-Gate reports.  

Jabal Omar Eyes SAR 3 bn Loan Conversion into Murabaha

• Monday, 19th June 2017
• by Menna A. Farouk

Saudi real estate development company Jabal Omar Development Co. is holding talks with the Saudi Finance Ministry to convert a commercial loan worth SAR 3 bn into a Murabaha facility, Invest-Gate reports.  

Aldar Reveals Updates on Master-Planned Community in Abu Dhabi

• Monday, 19th June 2017
• by Menna A. Farouk

Construction works at the master-planned community of UAE’s developer Aldar Properties in Reem Island, Abu Dhabi is going at a “steady pace”, Invest-Gate reports.  

Saudi Construction Market Set to Grow to USD 98.8 bn by 2025

• Monday, 19th June 2017
• by Menna A. Farouk

Multinational research firm BMI Research expects the Saudi construction market to reach a record growth of SR 362 bn in 2025, from SR 170 bn in 2016, Invest-Gate reports.

Arabtec BoD to Meet over Recapitalization Program June 19

• Monday, 19th June 2017
• by Menna A. Farouk

Dubai’s developer Arabtec Holding is to hold its BoD meeting on June 19 to discuss updates on its recapitalization program, Invest-Gate reports.  

Emaar to Operate Jabal Omar’s Mecca Hotel in 2019

• Monday, 19th June 2017
• by Menna A. Farouk

UAE-based Emaar Hospitality Group’s hotel brand, Address Hotels and Resorts, signs a deal with Jabal Omar Development Company (JODC) to operate a new hospitality project in Mecca, Saudi Arabia, Invest-Gate reports.