Stronger Dollar to Possibly Stall Dubai Recovery -Analysts

• Wednesday, 16th November 2016
• by Karim Mohy

The recent strength of the US dollar could possibly hamper the recovery of Dubai's struggling real estate market, according to analysts speaking to The National.

Dubai’s First Group Breaks Ground on Latest Hotel

• Tuesday, 15th November 2016
• by Karim Mohy

Dubai-based developer The First Group celebrated the groundbreaking ceremony on its latest hotel project, the Millennium Place JVT Dubai.

Qatar’s UDC to Launch New Projects at The Pearl

• Tuesday, 15th November 2016
• by Karim Mohy

Qatari United Development Company (UDC) announced the signing of three contracts for the construction of three new projects at its flagship project The Pearl-Qatar.

Kuwait’s Al-Tijaria Q3 Net Profit up 9% y-o-y

• Tuesday, 15th November 2016
• by Karim Mohy

Kuwaiti real estate firm The Commercial Real Estate Company (Al-Tijaria) recorded third quarter net profit of KWD 8.3 mn.

Egypt’s Arab Contractors Completes Major Hospital in Kuwait

• Tuesday, 15th November 2016
• by Karim Mohy

Egypt-based Arab Contractors Company has completed the construction of Sheikh Jaber Al-Ahmad Al- Sabah Hospital in Kuwait, considered the world’s sixth largest hospital.

SEZAD Proceeds With Duqm Fishing Port Works

• Tuesday, 15th November 2016
• by Karim Mohy

Oman’s Special Economic Zone Authority in Duqm (SEZAD) signed an agreement with Galfar Engineering and Contracting over the construction of a Fishery Port in Duqm.

InterContinental, Al-Futtaim Sign Deal for UAE’s Largest Holiday Inn

• Monday, 14th November 2016
• by Karim Mohy

InterContinental Hotels Group (IHG) and Al-Futtaim on Monday announced the signing of an agreement for the largest Holiday Inn hotel in the UAE in Dubai's Festival City, according to a press release.

MSF and Serka Taahüt Win Duqm Port Contract

• Monday, 14th November 2016
• by Karim Mohy

Portuguese engineering and construction company MSF Engenharia and Turkish contractor Serka Taahüt won a contract for infrastructure work on the port of Duqm in Oman.

Arabtec 3Q Losses Narrow 76% y-o-y

• Monday, 14th November 2016
• by Karim Mohy

Dubai-based construction firm Arabtec Holding PJSC reported net losses attributable to its parent at AED 225 mn for the third quarter of 2016, marking a 76% decrease in losses compared to the same period last year, according to a bourse statement.

Drake & Scull’s Losses Narrow in Q3

• Monday, 14th November 2016
• by Karim Mohy

Dubai-based construction company Drake & Scull International PJSC (DSI) on Monday reported net losses attributable to shareholders of AED 46.3 mn in the third quarter of 2016, according to their 9M 2016 financial statement, compared to losses of AED 877.8 mn in the same period last year.