• 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.

Building & Construction Window


Construction News

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....



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