Frequency of Payments Owed to Construction Companies from Saudi State to Improve -FinMin

• Thursday, 20th October 2016
• by Karim Mohy

According to Saudi Finance Minister, Ibrahim Alassaf, Payments owed to construction firms, which currently face delays, were due to “technical reasons,” and their frequency would improve, according to Saudi Finance Minister Ibrahim Alassaf.

Bloom Eager to Start Work in New Business District

• Thursday, 20th October 2016
• by Karim Mohy

Abu Dhabi-based developer Bloom Holding aims to be the first to begin work in Abu Dhabi's new Madinat Zayed Central Business District.

Emaar The Economic City Reports 3Q16 Losses on Lower Margins

• Wednesday, 19th October 2016
• by Karim Mohy

Emaar, The Economic City (EEC), a unit of UAE-developer Emaar Properties, reported a 3Q 2016 loss of SAR 81 mn on Wednesday.

Eagle Hills to Develop W Hotels Branch in Amman

• Wednesday, 19th October 2016
• by Karim Mohy

The Jordanian subsidiary of Abu Dhabi-based Eagle Hills will open a branch of the high-end W Hotel and Skyline Residences in Amman.

Construction Starts at Aldar’s Yas Acres

• Wednesday, 19th October 2016
• by Karim Mohy

Abu-Dhabi based developer Aldar Properties announced on Wednesday it has awarded an AED 155 mn early works contract for its Yas Acres waterfront development to Bauer Geotechnical Specialized Foundation.

Rents in Dubai Marina Declining

• Wednesday, 19th October 2016
• by Karim Mohy

Rents for apartments in Dubai Marina have declined between 3 and 10% in 3Q 2016.

Nakheel Reports 22% Increase in Profit in 3Q2016

• Wednesday, 19th October 2016
• by Karim Mohy

Dubai-based developer Nakheel Properties reported on Wednesday a 22% increase in its profits in the third quarter of 2016.

Infrastructure Work on Doha Port to Commence in 2017

• Tuesday, 18th October 2016
• by Karim Mohy

Infrastructure and renovation works worth around QAR 2 billion will start at Doha Port in the second quarter of 2017.

Emaar Announces New Residential Project

• Tuesday, 18th October 2016
• by Karim Mohy

Dubai developer Emaar Properties announced the launch of Park Point, a premium residential project, at its Dubai Hills Estate project.

Saudi Construction Sector a Risk for Banks -Moody’s

• Tuesday, 18th October 2016
• by Karim Mohy

The current weakness of Saudi Arabia's construction sector poses a risk to Saudi banks with exposure to the sector, according to a statement by Moody's on the publication of a research note on Tuesday.