Fitch Downgrades Saudi Arabia’s Rating to A+

• Thursday, 23rd March 2017
• by Leena ElDeeb

Fitch Ratings downgrades Saudi Arabia by one notch to A+ with a stable outlook from AA- with a negative outlook, citing deterioration of state finances due to low oil prices and doubts over whether Riyadh can achieve its economic reform plans, Invest-Gate reports.

UAE Launches Initiative to Salvage Insolvent Tenants

• Wednesday, 22nd March 2017
• by Fatma Khaled

The UAE is launching a AED-1-mn initiative, entitled Year of Giving, aiming to salvage insolvent tenants in the country, Invest-Gate reports.

Omran Properties Unveils Projects Worth USD 672 mn, Sharjah

• Wednesday, 22nd March 2017
• by Leena ElDeeb

Sharjah-based real estate joint venture, Omran Properties, unveils three new projects in the UAE worth AED 2.47 bn, Invest-Gate reports.

Abu Dhabi’s Aldar to Invest USD 517 mn on Yas, Reem Islands

• Tuesday, 21st March 2017
• by Leena ElDeeb

Abu Dhabi-based real estate developer Aldar Properties plans to invest AED 1.9 bn (USD 517 mn) in recurring revenue assets on its Yas and Reem Island projects in the UAE, Invest-Gate reports.

Saudi Aramco Launches Center To Facilitate Registration for Contractors, Suppliers

• Tuesday, 21st March 2017
• by Leena ElDeeb

Saudi Arabia’s national petroleum and natural gas company Saudi Aramco launched on March 20 a center for contractors and suppliers to facilitate the registration process and help contractors reach the company, Invest-Gate reports.

UAE Carries Out Infrastructure Projects worth AED 235 mn

• Tuesday, 21st March 2017
• by Fatma Khaled

The United Arab Emirates will carry out infrastructure projects worth AED 235 mn across the country, Invest-Gate reports.

DP World Net Profit Rises by 28% y-o-y in 2016

• Tuesday, 21st March 2017
• by Nayrouz Talaat

Dubai-based global ports operator DP World reported a 28% y-o-y rise in net profit for the full year ending December 31, 2016, Invest-Gate reports.

Saudi Arabia Offers Bids to Generate Electricity from Solar Power

• Monday, 20th March 2017
• by Leena ElDeeb

Saudi Arabia announces the offering of three bids to generate electricity from solar energy in the years of 2018, 2019 and 2020, Al-Madina reports.

Saudi High-Speed Rail Project Almost Completed

• Monday, 20th March 2017
• by Leena ElDeeb

A Saudi high-speed rail project connecting Medina and Mecca is progressing at a speedy pace with 95% of construction works completed, Saudi Gazette reports.

Dubai’s RTA Builds Roads in 16 Residential Areas

• Monday, 20th March 2017
• by Fatma Khaled

Dubai’s Roads and Transport Authority (RTA) completes the construction of roads located in 16 residential districts across the UAE, Invest-Gate reports.