Dubai residential property prices down 3.6pc
Residential property prices in Dubai's rental market plunged 3.6 per cent year-on-year (y-o-y) in May owing to a steep fall in apartment and villa prices compared to the same period last year, said a report.
Saudi Electricity gets $1.5bn Chinese loan
State-controlled utility Saudi Electricity Company (SEC) has obtained $1.5 billion in financing from Industrial and Commercial Bank of China (ICBC), one of the largest loans ever extended by a Chinese bank in the Gulf.
AIS opens big food production facility in Ajman
Arab & India Spices (AIS), a major importer of food products in the Middle East, has opened the region’s largest food production facility built at an investment of Dh350 million ($95.2 million) over a 400,000-sq-ft area in Ajman, UAE.
Iran plans tenders for oil fields as contract nears
Iran plans to issue tenders to develop its oilfields this summer, as the government is expected to approve a new model oil contract designed to attract investors, Oil Minister Bijan Namdar Zanganeh said in an interview with the Isna.
BRE Global opens regional office in Dubai
BRE Global, an independent, third-party approvals organisation offering certification of products, services and systems to an international market, has opened its regional office in Dubai, UAE.
Saudi Arabia launches $1.2bn residential project
7,000 NEW VILLAS
The Saudi Arabian government has embarked on a major plan to build 7,000 new villas at an investment of SR4.48 billion ($1.19 billion) on a 6.5-million-sq-m area in the eastern part of Riyadh, said a report.
Muscat City Centre expands car parking space
Majid Al Futtaim’s City Centre Qurum, a leading shopping and leisure destination in Muscat, Oman has built a new car park structure on Level 2 to accommodate 177 additional vehicles.
MRHE launches new smart government website
Mohammed Bin Rashid Housing Establishment (MRHE) has partnered with DataCell, a leading business application solutions provider, to launch its new user-friendly smart government website.
London ‘top property market for GCC buyers’
London is a dynamically changing property market and has been a favourite investment destination for buyers from the GCC for decades, an industry expert said.
Schonbek to launch new lighting designs in region
Schonbek, one of the world’s leading crystal chandelier brands, is introducing its 2016 product collection - Chrysalita, Sarella, Zeppa - in select markets throughout Middle East, Europe and Asia Pacific region.
Cayan marks ADCB cash management partnership
Cayan Group, a leading property developer in the Middle East, recently hosted an event to celebrate the cash management partnership it has maintained and developed with Abu Dhabi Commercial Back (ADCB).
Khodari to book loss after passing up Saudi contract
Saudi Arabian contractor Abdullah Abdul Mohsin Al Khodari and Sons said it will book a multi-million-riyal loss after it received state permission to reallocate a government contract it won in 2014 to another company.