News / Middle East
Bahrain’s Mumtalakat Invest $250M in US Real Estate
Mumtalakat Holding Company, a Bahraini sovereign wealth fund, announced a partnership with Regent Properties, a real estate developer and investor based in the US, to acquire an interest in its numerous real estate assets in the US.
Saudi Construction Contracts Value Witness Sharp Drop by 51%
Saudi Arabia’s total value of construction contracts for the first quarter (Q1) of 2016 was recorded at SR 27.9 billion ($7.4 billion), dropping by 51% in comparison to the same period last year where the value reached SR 27.9 billion ($7.4 billion.
Sandan Signs Agreement with Towell for Light Industries Park in Oman
Sandan Development, a Omani real estate developer, has signed an agreement with Towell Construction Company (TCC) for the construction of the first integrated light industries park in Oman.
Emaar Awards Construction of Jeddah Project to ACC
Emaar Middle East, a subsidiary of the real estate developer Emaar Properties, contracted the construction of Emaar Residences in Jeddah Gate to Arabian Construction Company (ACC).
World Cup Stadium in Qatar to Cost QAR 36.4B
Qatar’s World Cup Stadium will cost between QAR 29.1 billion($8 billion) and QAR 36.4 billion ($10 billion) in construction costs for the 2022 Games, said Hassan Al Thawadi, the secretary-general of the Supreme Committee for Delivery and Legacy (SC).
UAE’s Green Valley Launches 350 Villas Morocco Project for AED 500M
Green Valley International Real Estate, a Dubai-based real estate company, announced the launch of the City of Green Valley Marrakech project, an investment worth AED 500 million ($136 million).
Azizi Awards KCC AED 200M Construction Contract
Azizi Developments, a UAE-based real estate developer, granted Keilani Construction Company (KCC) a contract worth AED 200 million ($54 million) to build two high-end residences, Roy Mediterranean and Montrell, at Al Furjan master community.
AED 166M to Be Spent on Infrastructure Projects in Abu Dhabi
Abu Dhabi Executive Council approved more than AED 166 million ($45 million) worth of infrastructure projects.
Barwa Real Estate Signs QR 310M Financing Agreement
Barwa Real Estate, a Qatar-based real estate company, signed financing agreeements worth QR 310 million ($1.13 billion) with a local bank, of which it has not shared its name.
