Dubai launches massive Meydan development
711-METRE TOWER SHOWPIECE
Dubai’s Meydan City Corporation has launched a new 3.67-million-sq-m leisure, residential and hospitality destination featuring the world’s tallest residential tower within the heart of the UAE emirate, a report said.
Emaar Misr says Alabbar now non-executive chairman
Egyptian property developer Emaar Misr said in a bourse filing on Tuesday that Mohammed Alabbar was now non-executive chairman, after previously being chairman and managing director.
ME district cooling expands by 75 million sq ft
The Middle East region recorded the addition of a further 75.5 million sq ft to district cooling systems in 2014, according to the latest International District Energy Association (IDEA)’s report on growth in District Energy.
Qatar construction growth 'to continue regardless of World Cup'
Qatar's construction sector growth will continue regardless of the status of the World Cup as much of the infrastructure pipeline is not directly linked to the event, said a report.
Kuwait real estate sales edge up in June
Sales across Kuwait’s three main real estate sectors totalled KD270 million ($890 million), up 5.4 per cent from May, while the number of transactions was up 2.9 per cent, a report said.
Cairo retail rental growth seen staying flat
With over 770,000 sq m of retail floor space scheduled to be completed in Cairo over the next 18 months, vacancy rates are likely to increase from their current levels, limiting the scope for further rental growth, said an industry expert.
TDIC invites bids for Saadiyat villas project
Abu Dhabi's Tourism Development and Investment Company (TDIC) has invited pre-qualification bids from contractors with corresponding experience for the construction of a residential villas development on Saadiyat Island in the UAE emirate.
Aldar Q2 profit surges 18pc to $163m
Abu Dhabi-based Aldar Properties, one of the largest developers in the region, has posted a net profit of Dh601 million ($163.5 million) for the second quarter (Q2) of the year, up 18 per cent from Dh509 million ($138.6 million) of Q2 2014.
Stalled $100m Bahrain project to be reviewed
A multi-million-dinar stalled development on the edge of the desert at Sakhir has been referred to a special ministerial committee for review.
Mapna to build major power plant in Iraq
Iranian industrial group Mapna has won the engineering, procurement and installation contract for the $2.5 billion natural gas-fired power plant project in the Rumaila area of Basra, Iraq.
Emirates REIT acquires freehold land for $26m
Emirates REIT, a UAE-based regulated shari'a-compliant real estate investment trust, has acquired a freehold land plot and will fund the development of a new school in the Akoya development in Dubai.
Riyadh office market stable as projects delayed
Riyadh’s office market has remained largely stable over the second quarter of 2015, partially due to further delays in the construction of many of the key projects, a report said.