Dubai, Abu Dhabi more affordable for renters, buyers
The key real estate markets of Dubai and Abu Dhabi in the UAE witnessed an overall downward movement of apartment rents in the third quarter making them more affordable for the renters and buyers, said a report.
Dubai Carbon in key energy efficiency milestone
Dubai Carbon Centre of Excellence, a first-of-its-kind centre in the region, said it has reached a major milestone to incentivise retrofit markets in the entire UAE along with the Dubai Supreme Council of Energy (DSCE).
'Workers Day Out' at giant ME theme park
Dubai Parks and Resorts, the largest integrated theme park destination in the Middle East, last week organised a private preview for its construction workforce to honour their efforts 'in turning the theme park vision into reality.'
Dubai to set up top design institute
MIT, PARSONS TO COLLABORATE
Leading Dubai organisations have announced plans to establish the Dubai Institute of Design and Innovation (DIDI) in collaboration with MIT and Parsons at a cost of Dh270 million ($73.51 million).
Abu Dhabi approves 40 key projects in Q2
NUMBERS UP 3pc
Abu Dhabi Urban Planning Council (UPC) approved 40 major projects, including the 69,500-sq-km Mayan residential development near Yas Links Golf Course besides four other key projects in Al Ain, in the second quarter of 2016.
Empower signs $126m contracts in nine months
Emirates Central Cooling Systems Corporation (Empower), considered to be the world’s largest district cooling services provider, signed 42 contracts worth Dh465 million ($126.5 million) in the first three quarters of 2016 in Dubai, UAE.
Wasl properties leases 24 luxury villas in Dubai
UAE-based wasl properties has completed Phase One of its mixed-use project, wasl 51, in the Jumeirah area of Dubai, UAE and has also started leasing 24 of its luxury villas in the development.
Aurecon working on novel Saudi office project
Global engineering and infrastructure advisory company Aurecon said it is working on a new office building project in Jeddah, Saudi Arabia, which, on completion, will offer one of the most innovative working environments in the region.
Barwa signs $165m project finance agreement
Qatar-based Barwa Real Estate company said it has signed a QR600-million ($165 million) facility agreement with Qatar International Islamic Bank (QIIB) for its upcoming projects.
Stirling Lloyd seals Qatar tunnel project deal
Stirling Lloyd, a leading UK manufacturer of protective coatings for infrastructure, said it has been selected to provide waterproofing for the new Lusail Tunnel that forms part of the $30-billion integrated transportation system in Qatar.
Qatar completes $107m road work
Qatar has completed the first two phases of Rawdat Rashed Road Development Project, a key link between Salwa Road and Dukhan Highway, at a cost of QR390 million ($107 million) and is soon to start the 13-km-long third phase.
Seef Properties nine-month profit tops $18.8m
Bahrain’s Seef Properties has posted a net profit of BD7.13 million ($18.8 million) for the first nine months of the year, a growth of 4.1 per cent when compared with BD6.85 million ($18 million) achieved during the same period last year.