Sharjah residential rents soar 26pc in Q3
The residential rental values in Sharjah, UAE, surged 26.4 per cent in the third quarter compared to the same period last year largely driven by the reverse migration from neighbouring Dubai emirate.
Dubai issues 500,000 new residence visas in H1
Nearly 500,000 new residence visas were issued in Dubai, UAE in first half of 2014, indicating flourishing business for real estate in the UAE emirate, said a report ahead of a property expo.
Ex-Arabtec chief plans sale of remaining stake
The former chief executive of Dubai-listed construction firm Arabtec Holding plans to sell his remaining stake in the company, a source with knowledge of the matter told Reuters on Wednesday.
Moody's upgrades Aldar's ratings to Baa3
Moody's Investors Service has upgraded the ratings of Aldar Properties, an Abu Dhabi real estate company, to Baa3 from Ba1 following the opening of its flagship retail development, Yas Mall, and other investment properties.
Mabanee to spend $910m on Kuwait mall extension
TOTAL PROJECT COST TOPS $2bn
Kuwaiti real estate firm Mabanee said on Wednesday it would spend KD265 million ($910 million) on building the fourth phase of its The Avenues mall development.
Qatar awards $3.8bn port contracts
Qatar has awarded construction contracts worth QR14 billion ($3.8 billion) for a new container port, which will be located in Mesaieed south of the capital Doha, said a report.
Omnix is reseller of MagiCAD building software
UAE-based Omnix International, a leading provider of IT solutions, has been appointed as the region’s exclusive reseller of MagiCAD Building Information Modeling (BIM) software.
Row with Korean builder hits refinery project
A contract disagreement between Saudi Aramco and South Korea's SK Engineering & Construction (SK E&C) is delaying construction of a 400,000-barrel-per-day (bpd) oil refinery in Jizan in southwest Saudi Arabia, industry sources said.
Workers' skills to be tested before UAE entry
The UAE has launched a new pilot project under which 2,500 workers in the construction sector from India, Pakistan and Philippines will have their skills tested before being recruited in the country, said a report.
Damac boosts Dubai luxury hospitality offering
Luxury real estate developer Damac Properties has further expanded its hospitality offering with the addition of three new serviced hotel apartments in the Burj area of Dubai, UAE.
Dammam steps up green drive with 23 parks
A total of 23 parks and public squares were built in Dammam, Saudi Arabia during the past year, as part of an environmental drive launched by the Dammam Municipality, a report said.
UAE import of kitchen, bath products tops $30bn
The UAE's import of kitchen and bathroom products will surge to over $30 billion by the end of the year amid growing demand for such items from a booming population enjoying a quality lifestyle, said experts.