AlKifah Ready Mix & Blocks (KRB) a long-standing leader in Saudi Arabia s construction industry is capitalising on its 40 years of expertise to drive growth and innovation through a blend of local insight product quality a strong commitment to sustainability and a skilled workforce. As part of the SaudiMade Programme KRB is advancing its market presence and reinforcing its reputation for sustainable practices. Nigel Harries General Manager of KRB attributes the company s success to its deep understanding of the local market and its unwavering commitment to quality. Being a Saudi company KRB has a deep understanding of the local market culture and business practices which gives us a significant advantage in catering to the specific needs of our clients Harries states in an exclusive interview with Gulf Construction . He emphasises that KRB s local knowledge coupled with its focus on product innovation has been critical in maintaining its position as a market leader. By championing local production and prioritising sustainability the company has won prominent clients such as Aramco Rua Al Madinah Neom PIF subsidiaries Red Sea Global and Qiddiya he adds. KRB s products are renowned for their durability and consistency thanks to its rigorous quality control measures and cutting-edge technology. The company adheres to international standards including ISO 9001:2015 and invests heavily in research and development to introduce new products and improve existing ones that cater to the evolving construction needs. Environmental Focus The company has been at the forefront of introducing eco-friendly products in Saudi Arabia. KRB was and still is a pioneer in the Saudi market for innovative green and sustainable solutions such as ConGreen which are ultra-green concrete products and BloGreen which are ultra-green block products. These products have been widely adopted in mega and giga projects across the kingdom and have proven their high performance thus strengthening the company s position in the Saudi market he says. KRB s ConGreen solutions have been supplied to Qiddiya in Riyadh and the King Salman Global Maritime Industries Complex in Jubail and is currently being used at the Aramco Stadium project in Al Khobar. Al Kifah s green solutions have unique properties which facilitate tasks on the job site through their better workability and better finishability he adds. ConGreen leverages CarbonCure technology and natural pozzolans to reduce cement content while maintaining strength and durability resulting in a lower carbon footprint in line with Saudi Arabia s sustainability goals. CarbonCure is an innovative technology that injects carbon dioxide (captured from industrial emitters) into the concrete during the batching process. KRB also offers special concrete mixes that utilise recycled metal slag aggregates to reduce their carbon footprint. These materials not only have a zero carbon footprint but also a zero resource footprint he points out. The company also offers volumetric mobile batch plants (VMBPs) which enable the production of high-quality concrete in remote areas and tough topographies where it is not possible to erect a stationary batch plant. These VMBPs are considered an all-in-one solution offering many advantages such as zero wastage zero mobilisation time lower carbon dioxide emission and are a smart solution for supplying concrete in these remote areas Harries says. KRB s environmental stewardship extends beyond product innovation to include several initiatives: Material recycling: Utilising recycled CO2 (CarbonCure) metal slag and construction waste in concrete production; Local sourcing: Employing locally sourced materials like natural pozzolan to decrease transportation emissions; Waste management: Implementing waste control measures such as smart reclaimers to minimise waste generated during concrete production; Water conservation: Recycling water and adopting water-saving practices to preserve this scarce resource; and Energy efficiency: Using low-energy production processes like volumetric mobile batch plants. Aligning with Saudi Vision 2030 KRB prioritises the use of local and regional resources maximising the use of raw materials produced in-house by its sister companies. This approach not only boosts the local economy but also contributes to a more efficient supply chain. This also reduces transportation emissions he says. SaudiMade The company s affiliation with the SaudiMade programme has been instrumental in its growth trajectory. Being part of SaudiMade initiative which is aligned with Saudi Vision 2030 has significantly contributed to KRB s growth and market presence says Harries. The SaudiMade programme emphasises local production and supports companies in expanding their footprint both locally and internationally. For KRB this membership has bolstered its credibility and helped it secure more contracts especially for projects that prioritise sustainability and the use of locally sourced materials. The company has also enhanced its green product line such as ConGreen which meets rigorous environmental standards and is widely accepted by major clients like Saudi Aramco. Overall participation in the SaudiMade programme has helped KRB not only to grow its market share but also to innovate and lead in sustainable construction practices within Saudi Arabia he adds. Focus on Quality To ensure consistent product quality KRB adheres to stringent quality control measures leverages advanced technology and invests heavily in employee training. The company adopts a multifaceted approach to ensure the consistent high quality of its products. He elaborates: KRB has a robust quality control system in place adhering to international standards like ISO 9001:2015. This system involves regular inspections testing of raw materials and finished products and continuous monitoring of production processes. The company prioritises the use of premium raw materials sourced locally whenever possible and subjects them to rigorous testing before use. This ensures that the final products are of superior quality. In addition KRB utilises advanced technology and equipment in its production facilities allowing for precise control over the mixing and curing processes. This minimises variability and ensures consistent product quality. KRB has experienced professionals at all levels from production and quality control to sales and management contributing to operational efficiency and customer satisfaction. This apart the company invests in training and development programmes to ensure its workforce possesses the necessary skills and expertise to maintain high quality standards throughout the production process. KRB has an active research and development programme to continually improve its products and processes. This enables the company to stay ahead of industry trends and offer cutting-edge solutions to its customers he adds. Al Kifah s R&D team is currently working on developing a new generation of geopolymer concrete with near to zero carbon emission Harries reveals. KRB uses customer feedback to identify areas for improvement in line with its commitment to continuous improvement. This focus on consistent high quality not only builds customer trust and loyalty but also contributes to the overall success and reputation of the company in the Saudi construction industry he remarks. By combining deep-rooted local knowledge technological advancements and a strong commitment to sustainability AlKifah Ready Mix & Blocks has established itself as a formidable force in the Saudi construction industry.
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AlKifah Ready Mix & Blocks (KRB) a long-standing leader in Saudi Arabia s construction industry is capitalising on its 40 years of expertise to drive growth and innovation through a blend of local insight product quality a strong commitment to sustainability and a skilled workforce. As part of the SaudiMade Programme KRB is advancing its market presence and reinforcing its reputation for sustainable practices. Nigel Harries General Manager of KRB attributes the company s success to its deep understanding of the local market and its unwavering commitment to quality. Being a Saudi company KRB has a deep understanding of the local market culture and business practices which gives us a significant advantage in catering to the specific needs of our clients Harries states in an exclusive interview with Gulf Construction . He emphasises that KRB s local knowledge coupled with its focus on product innovation has been critical in maintaining its position as a market leader. By championing local production and prioritising sustainability the company has won prominent clients such as Aramco Rua Al Madinah Neom PIF subsidiaries Red Sea Global and Qiddiya he adds. KRB s products are renowned for their durability and consistency thanks to its rigorous quality control measures and cutting-edge technology. The company adheres to international standards including ISO 9001:2015 and invests heavily in research and development to introduce new products and improve existing ones that cater to the evolving construction needs. Environmental Focus The company has been at the forefront of introducing eco-friendly products in Saudi Arabia. KRB was and still is a pioneer in the Saudi market for innovative green and sustainable solutions such as ConGreen which are ultra-green concrete products and BloGreen which are ultra-green block products. These products have been widely adopted in mega and giga projects across the kingdom and have proven their high performance thus strengthening the company s position in the Saudi market he says. KRB s ConGreen solutions have been supplied to Qiddiya in Riyadh and the King Salman Global Maritime Industries Complex in Jubail and is currently being used at the Aramco Stadium project in Al Khobar. Al Kifah s green solutions have unique properties which facilitate tasks on the job site through their better workability and better finishability he adds. ConGreen leverages CarbonCure technology and natural pozzolans to reduce cement content while maintaining strength and durability resulting in a lower carbon footprint in line with Saudi Arabia s sustainability goals. CarbonCure is an innovative technology that injects carbon dioxide (captured from industrial emitters) into the concrete during the batching process. KRB also offers special concrete mixes that utilise recycled metal slag aggregates to reduce their carbon footprint. These materials not only have a zero carbon footprint but also a zero resource footprint he points out. The company also offers volumetric mobile batch plants (VMBPs) which enable the production of high-quality concrete in remote areas and tough topographies where it is not possible to erect a stationary batch plant. These VMBPs are considered an all-in-one solution offering many advantages such as zero wastage zero mobilisation time lower carbon dioxide emission and are a smart solution for supplying concrete in these remote areas Harries says. KRB s environmental stewardship extends beyond product innovation to include several initiatives: Material recycling: Utilising recycled CO2 (CarbonCure) metal slag and construction waste in concrete production; Local sourcing: Employing locally sourced materials like natural pozzolan to decrease transportation emissions; Waste management: Implementing waste control measures such as smart reclaimers to minimise waste generated during concrete production; Water conservation: Recycling water and adopting water-saving practices to preserve this scarce resource; and Energy efficiency: Using low-energy production processes like volumetric mobile batch plants. Aligning with Saudi Vision 2030 KRB prioritises the use of local and regional resources maximising the use of raw materials produced in-house by its sister companies. This approach not only boosts the local economy but also contributes to a more efficient supply chain. This also reduces transportation emissions he says. SaudiMade The company s affiliation with the SaudiMade programme has been instrumental in its growth trajectory. Being part of SaudiMade initiative which is aligned with Saudi Vision 2030 has significantly contributed to KRB s growth and market presence says Harries. The SaudiMade programme emphasises local production and supports companies in expanding their footprint both locally and internationally. For KRB this membership has bolstered its credibility and helped it secure more contracts especially for projects that prioritise sustainability and the use of locally sourced materials. The company has also enhanced its green product line such as ConGreen which meets rigorous environmental standards and is widely accepted by major clients like Saudi Aramco. Overall participation in the SaudiMade programme has helped KRB not only to grow its market share but also to innovate and lead in sustainable construction practices within Saudi Arabia he adds. Focus on Quality To ensure consistent product quality KRB adheres to stringent quality control measures leverages advanced technology and invests heavily in employee training. The company adopts a multifaceted approach to ensure the consistent high quality of its products. He elaborates: KRB has a robust quality control system in place adhering to international standards like ISO 9001:2015. This system involves regular inspections testing of raw materials and finished products and continuous monitoring of production processes. The company prioritises the use of premium raw materials sourced locally whenever possible and subjects them to rigorous testing before use. This ensures that the final products are of superior quality. In addition KRB utilises advanced technology and equipment in its production facilities allowing for precise control over the mixing and curing processes. This minimises variability and ensures consistent product quality. KRB has experienced professionals at all levels from production and quality control to sales and management contributing to operational efficiency and customer satisfaction. This apart the company invests in training and development programmes to ensure its workforce possesses the necessary skills and expertise to maintain high quality standards throughout the production process. KRB has an active research and development programme to continually improve its products and processes. This enables the company to stay ahead of industry trends and offer cutting-edge solutions to its customers he adds. Al Kifah s R&D team is currently working on developing a new generation of geopolymer concrete with near to zero carbon emission Harries reveals. KRB uses customer feedback to identify areas for improvement in line with its commitment to continuous improvement. This focus on consistent high quality not only builds customer trust and loyalty but also contributes to the overall success and reputation of the company in the Saudi construction industry he remarks. By combining deep-rooted local knowledge technological advancements and a strong commitment to sustainability AlKifah Ready Mix & Blocks has established itself as a formidable force in the Saudi construction industry.
AlKifah Ready Mix & Blocks (KRB) a long-standing leader in Saudi Arabia s construction industry is capitalising on its 40 years of expertise to drive growth and innovation through a blend of local insight product quality a strong commitment to sustainability and a skilled workforce. As part of the SaudiMade Programme KRB is advancing its market presence and reinforcing its reputation for sustainable practices. Nigel Harries General Manager of KRB attributes the company s success to its deep understanding of the local market and its unwavering commitment to quality. Being a Saudi company KRB has a deep understanding of the local market culture and business practices which gives us a significant advantage in catering to the specific needs of our clients Harries states in an exclusive interview with Gulf Construction . He emphasises that KRB s local knowledge coupled with its focus on product innovation has been critical in maintaining its position as a market leader. By championing local production and prioritising sustainability the company has won prominent clients such as Aramco Rua Al Madinah Neom PIF subsidiaries Red Sea Global and Qiddiya he adds. KRB s products are renowned for their durability and consistency thanks to its rigorous quality control measures and cutting-edge technology. The company adheres to international standards including ISO 9001:2015 and invests heavily in research and development to introduce new products and improve existing ones that cater to the evolving construction needs. Environmental Focus The company has been at the forefront of introducing eco-friendly products in Saudi Arabia. KRB was and still is a pioneer in the Saudi market for innovative green and sustainable solutions such as ConGreen which are ultra-green concrete products and BloGreen which are ultra-green block products. These products have been widely adopted in mega and giga projects across the kingdom and have proven their high performance thus strengthening the company s position in the Saudi market he says. KRB s ConGreen solutions have been supplied to Qiddiya in Riyadh and the King Salman Global Maritime Industries Complex in Jubail and is currently being used at the Aramco Stadium project in Al Khobar. Al Kifah s green solutions have unique properties which facilitate tasks on the job site through their better workability and better finishability he adds. ConGreen leverages CarbonCure technology and natural pozzolans to reduce cement content while maintaining strength and durability resulting in a lower carbon footprint in line with Saudi Arabia s sustainability goals. CarbonCure is an innovative technology that injects carbon dioxide (captured from industrial emitters) into the concrete during the batching process. KRB also offers special concrete mixes that utilise recycled metal slag aggregates to reduce their carbon footprint. These materials not only have a zero carbon footprint but also a zero resource footprint he points out. The company also offers volumetric mobile batch plants (VMBPs) which enable the production of high-quality concrete in remote areas and tough topographies where it is not possible to erect a stationary batch plant. These VMBPs are considered an all-in-one solution offering many advantages such as zero wastage zero mobilisation time lower carbon dioxide emission and are a smart solution for supplying concrete in these remote areas Harries says. KRB s environmental stewardship extends beyond product innovation to include several initiatives: Material recycling: Utilising recycled CO2 (CarbonCure) metal slag and construction waste in concrete production; Local sourcing: Employing locally sourced materials like natural pozzolan to decrease transportation emissions; Waste management: Implementing waste control measures such as smart reclaimers to minimise waste generated during concrete production; Water conservation: Recycling water and adopting water-saving practices to preserve this scarce resource; and Energy efficiency: Using low-energy production processes like volumetric mobile batch plants. Aligning with Saudi Vision 2030 KRB prioritises the use of local and regional resources maximising the use of raw materials produced in-house by its sister companies. This approach not only boosts the local economy but also contributes to a more efficient supply chain. This also reduces transportation emissions he says. SaudiMade The company s affiliation with the SaudiMade programme has been instrumental in its growth trajectory. Being part of SaudiMade initiative which is aligned with Saudi Vision 2030 has significantly contributed to KRB s growth and market presence says Harries. The SaudiMade programme emphasises local production and supports companies in expanding their footprint both locally and internationally. For KRB this membership has bolstered its credibility and helped it secure more contracts especially for projects that prioritise sustainability and the use of locally sourced materials. The company has also enhanced its green product line such as ConGreen which meets rigorous environmental standards and is widely accepted by major clients like Saudi Aramco. Overall participation in the SaudiMade programme has helped KRB not only to grow its market share but also to innovate and lead in sustainable construction practices within Saudi Arabia he adds. Focus on Quality To ensure consistent product quality KRB adheres to stringent quality control measures leverages advanced technology and invests heavily in employee training. The company adopts a multifaceted approach to ensure the consistent high quality of its products. He elaborates: KRB has a robust quality control system in place adhering to international standards like ISO 9001:2015. This system involves regular inspections testing of raw materials and finished products and continuous monitoring of production processes. The company prioritises the use of premium raw materials sourced locally whenever possible and subjects them to rigorous testing before use. This ensures that the final products are of superior quality. In addition KRB utilises advanced technology and equipment in its production facilities allowing for precise control over the mixing and curing processes. This minimises variability and ensures consistent product quality. KRB has experienced professionals at all levels from production and quality control to sales and management contributing to operational efficiency and customer satisfaction. This apart the company invests in training and development programmes to ensure its workforce possesses the necessary skills and expertise to maintain high quality standards throughout the production process. KRB has an active research and development programme to continually improve its products and processes. This enables the company to stay ahead of industry trends and offer cutting-edge solutions to its customers he adds. Al Kifah s R&D team is currently working on developing a new generation of geopolymer concrete with near to zero carbon emission Harries reveals. KRB uses customer feedback to identify areas for improvement in line with its commitment to continuous improvement. This focus on consistent high quality not only builds customer trust and loyalty but also contributes to the overall success and reputation of the company in the Saudi construction industry he remarks. By combining deep-rooted local knowledge technological advancements and a strong commitment to sustainability AlKifah Ready Mix & Blocks has established itself as a formidable force in the Saudi construction industry.
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AlKifah Ready Mix & Blocks (KRB) a long-standing leader in Saudi Arabia s construction industry is capitalising on its 40 years of expertise to drive growth and innovation through a blend of local insight product quality a strong commitment to sustainability and a skilled workforce. As part of the SaudiMade Programme KRB is advancing its market presence and reinforcing its reputation for sustainable practices. Nigel Harries General Manager of KRB attributes the company s success to its deep understanding of the local market and its unwavering commitment to quality. Being a Saudi company KRB has a deep understanding of the local market culture and business practices which gives us a significant advantage in catering to the specific needs of our clients Harries states in an exclusive interview with Gulf Construction . He emphasises that KRB s local knowledge coupled with its focus on product innovation has been critical in maintaining its position as a market leader. By championing local production and prioritising sustainability the company has won prominent clients such as Aramco Rua Al Madinah Neom PIF subsidiaries Red Sea Global and Qiddiya he adds. KRB s products are renowned for their durability and consistency thanks to its rigorous quality control measures and cutting-edge technology. The company adheres to international standards including ISO 9001:2015 and invests heavily in research and development to introduce new products and improve existing ones that cater to the evolving construction needs. Environmental Focus The company has been at the forefront of introducing eco-friendly products in Saudi Arabia. KRB was and still is a pioneer in the Saudi market for innovative green and sustainable solutions such as ConGreen which are ultra-green concrete products and BloGreen which are ultra-green block products. These products have been widely adopted in mega and giga projects across the kingdom and have proven their high performance thus strengthening the company s position in the Saudi market he says. KRB s ConGreen solutions have been supplied to Qiddiya in Riyadh and the King Salman Global Maritime Industries Complex in Jubail and is currently being used at the Aramco Stadium project in Al Khobar. Al Kifah s green solutions have unique properties which facilitate tasks on the job site through their better workability and better finishability he adds. ConGreen leverages CarbonCure technology and natural pozzolans to reduce cement content while maintaining strength and durability resulting in a lower carbon footprint in line with Saudi Arabia s sustainability goals. CarbonCure is an innovative technology that injects carbon dioxide (captured from industrial emitters) into the concrete during the batching process. KRB also offers special concrete mixes that utilise recycled metal slag aggregates to reduce their carbon footprint. These materials not only have a zero carbon footprint but also a zero resource footprint he points out. The company also offers volumetric mobile batch plants (VMBPs) which enable the production of high-quality concrete in remote areas and tough topographies where it is not possible to erect a stationary batch plant. These VMBPs are considered an all-in-one solution offering many advantages such as zero wastage zero mobilisation time lower carbon dioxide emission and are a smart solution for supplying concrete in these remote areas Harries says. KRB s environmental stewardship extends beyond product innovation to include several initiatives: Material recycling: Utilising recycled CO2 (CarbonCure) metal slag and construction waste in concrete production; Local sourcing: Employing locally sourced materials like natural pozzolan to decrease transportation emissions; Waste management: Implementing waste control measures such as smart reclaimers to minimise waste generated during concrete production; Water conservation: Recycling water and adopting water-saving practices to preserve this scarce resource; and Energy efficiency: Using low-energy production processes like volumetric mobile batch plants. Aligning with Saudi Vision 2030 KRB prioritises the use of local and regional resources maximising the use of raw materials produced in-house by its sister companies. This approach not only boosts the local economy but also contributes to a more efficient supply chain. This also reduces transportation emissions he says. SaudiMade The company s affiliation with the SaudiMade programme has been instrumental in its growth trajectory. Being part of SaudiMade initiative which is aligned with Saudi Vision 2030 has significantly contributed to KRB s growth and market presence says Harries. The SaudiMade programme emphasises local production and supports companies in expanding their footprint both locally and internationally. For KRB this membership has bolstered its credibility and helped it secure more contracts especially for projects that prioritise sustainability and the use of locally sourced materials. The company has also enhanced its green product line such as ConGreen which meets rigorous environmental standards and is widely accepted by major clients like Saudi Aramco. Overall participation in the SaudiMade programme has helped KRB not only to grow its market share but also to innovate and lead in sustainable construction practices within Saudi Arabia he adds. Focus on Quality To ensure consistent product quality KRB adheres to stringent quality control measures leverages advanced technology and invests heavily in employee training. The company adopts a multifaceted approach to ensure the consistent high quality of its products. He elaborates: KRB has a robust quality control system in place adhering to international standards like ISO 9001:2015. This system involves regular inspections testing of raw materials and finished products and continuous monitoring of production processes. The company prioritises the use of premium raw materials sourced locally whenever possible and subjects them to rigorous testing before use. This ensures that the final products are of superior quality. In addition KRB utilises advanced technology and equipment in its production facilities allowing for precise control over the mixing and curing processes. This minimises variability and ensures consistent product quality. KRB has experienced professionals at all levels from production and quality control to sales and management contributing to operational efficiency and customer satisfaction. This apart the company invests in training and development programmes to ensure its workforce possesses the necessary skills and expertise to maintain high quality standards throughout the production process. KRB has an active research and development programme to continually improve its products and processes. This enables the company to stay ahead of industry trends and offer cutting-edge solutions to its customers he adds. Al Kifah s R&D team is currently working on developing a new generation of geopolymer concrete with near to zero carbon emission Harries reveals. KRB uses customer feedback to identify areas for improvement in line with its commitment to continuous improvement. This focus on consistent high quality not only builds customer trust and loyalty but also contributes to the overall success and reputation of the company in the Saudi construction industry he remarks. By combining deep-rooted local knowledge technological advancements and a strong commitment to sustainability AlKifah Ready Mix & Blocks has established itself as a formidable force in the Saudi construction industry.
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Qatar s leading logistics and supply chain provider GWC and strategy group QC have joined hands to develop a state-of-the-art hub in the Gulf region for fine art storage and handling that will serve private collectors institutions and art galleries. Located in a designated free zone in Doha the facility will meet rising regional demand for art storage and logistics while contributing to Qatar s 2030 National Vision by expanding high-value economic activity in the creative and cultural industries. The Doha facility will provide museum-grade preservation secure storage and professional care for artworks and cultural assets supported by a conservation laboratory private and shared storage spaces viewing rooms and custom-bonded areas for art logistics and handling said the statement from GWC. It will also include learning and collaboration zones designed to advance local expertise in art preservation and management said the statement. ...
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Qatar s leading logistics and supply chain provider GWC and strategy group QC have joined hands to develop a state-of-the-art hub in the Gulf region for fine art storage and handling that will serve private collectors institutions and art galleries. Located in a designated free zone in Doha the facility will meet rising regional demand for art storage and logistics while contributing to Qatar s 2030 National Vision by expanding high-value economic activity in the creative and cultural industries. The Doha facility will provide museum-grade preservation secure storage and professional care for artworks and cultural assets supported by a conservation laboratory private and shared storage spaces viewing rooms and custom-bonded areas for art logistics and handling said the statement from GWC. It will also include learning and collaboration zones designed to advance local expertise in art preservation and management said the statement. ...
Bringing together participants from over 165 countries with 70% solutions from international companies Big 5 Global will connect Middle East Africa and South Asia s (MEASA) construction and urban development ecosystem to a global network of suppliers manufacturers and technology providers. Big 5 Global from November 24 to 27 in Duabi brings together 2 800 exhibitors and over 60 000 products services systems and solutions from around the world supporting efficient reliable project delivery. International pavilions from Germany and Italy return with expertise in advanced materials including high-performance concrete cement marble and stone systems while India expands its footprint with advanced MEP and smart construction solutions for large-scale projects across the Middle East and Africa. Returning pavilions Austria and Pakistan showcase export-ready innovations in modular builds interiors and MEP systems designed to reduce costs and streamline delivery. ...
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Bringing together participants from over 165 countries with 70% solutions from international companies Big 5 Global will connect Middle East Africa and South Asia s (MEASA) construction and urban development ecosystem to a global network of suppliers manufacturers and technology providers. Big 5 Global from November 24 to 27 in Duabi brings together 2 800 exhibitors and over 60 000 products services systems and solutions from around the world supporting efficient reliable project delivery. International pavilions from Germany and Italy return with expertise in advanced materials including high-performance concrete cement marble and stone systems while India expands its footprint with advanced MEP and smart construction solutions for large-scale projects across the Middle East and Africa. Returning pavilions Austria and Pakistan showcase export-ready innovations in modular builds interiors and MEP systems designed to reduce costs and streamline delivery. ...
Agility Global a multi-business owner operator and investor has reported a 21.1% rise in third-quarter EBIT which rose to 126.7 million boosted by the completion of Menzies Aviation s acquisition of US-based G2 Secure Staff and continued demand across its logistics and industrial real estate segments. Group revenue rose 6.7% to 1.3 billion while ebitda increased 19% to 214.7 million. Net profit for the quarter was 52 million or 0.55 cents per share. For the nine-month period Agility reported a profit of 97 million up from 91 million a year earlier. EBIT rose 8% to 316 million and revenue climbed 10.2% to 3.7 billion. Total assets stood at 12.2 billion as of September 30 with investments valued at about 5 billion led by its stake in DSV. On the results Chairman Tarek Sultan said it reflected the benefits of its portfolio strategy and disciplined execution. The completion of Menzies U.S. acquisition during the quarter is a maj...
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Agility Global a multi-business owner operator and investor has reported a 21.1% rise in third-quarter EBIT which rose to 126.7 million boosted by the completion of Menzies Aviation s acquisition of US-based G2 Secure Staff and continued demand across its logistics and industrial real estate segments. Group revenue rose 6.7% to 1.3 billion while ebitda increased 19% to 214.7 million. Net profit for the quarter was 52 million or 0.55 cents per share. For the nine-month period Agility reported a profit of 97 million up from 91 million a year earlier. EBIT rose 8% to 316 million and revenue climbed 10.2% to 3.7 billion. Total assets stood at 12.2 billion as of September 30 with investments valued at about 5 billion led by its stake in DSV. On the results Chairman Tarek Sultan said it reflected the benefits of its portfolio strategy and disciplined execution. The completion of Menzies U.S. acquisition during the quarter is a maj...
Data centre developers worldwide are rapidly shifting their focus to the construction of facilities capable of supporting artificial intelligence (AI) workloads but sector experts are warning that the complex requirements of these new data centres may be outpacing supply chain preparedness. The 2025-2026 Data Centre Construction Cost Index from global professional services company Turner & Townsend reveals 83 percent of data centre industry experts do not believe supply chains are well equipped to deliver the advanced cooling technology required for AI data centres. Based on expert insight from 280 data centre industry professionals across 52 worldwide markets the report points to 2025 as an inflexion point for the sector as it moves from a focus on traditional cloud-based air-cooled data centres to the growing dominance of high-density liquid-cooled facilities to support AI workloads. Meanwhile 48 percent of respondents cited power availability as the ...
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Data centre developers worldwide are rapidly shifting their focus to the construction of facilities capable of supporting artificial intelligence (AI) workloads but sector experts are warning that the complex requirements of these new data centres may be outpacing supply chain preparedness. The 2025-2026 Data Centre Construction Cost Index from global professional services company Turner & Townsend reveals 83 percent of data centre industry experts do not believe supply chains are well equipped to deliver the advanced cooling technology required for AI data centres. Based on expert insight from 280 data centre industry professionals across 52 worldwide markets the report points to 2025 as an inflexion point for the sector as it moves from a focus on traditional cloud-based air-cooled data centres to the growing dominance of high-density liquid-cooled facilities to support AI workloads. Meanwhile 48 percent of respondents cited power availability as the ...
Rafal Real Estate Development Company Riyadh-based developer and Rove Hotels announced a strategic partnership to develop multiple Rove Hotels properties in the Saudi capital. The signing ceremony which took place in Riyadh officially marks the Rove brand s expansion into the Saudi Arabian market with plans for future cities to follow. Rove Hotels is a dynamic award-winning lifestyle brand that has rapidly emerged as one of the fastest-growing hospitality brands in the Middle East. Born in Dubai as a joint venture between Emaar Properties and Dubai Holding Rove already boasts over 8 000 keys open or under development. The brand is defined by its smart vibrant design seamless and fuss-free service culture and a robust commitment to sustainability appealing to the modern traveller seeking both style and substance. Under the agreement the ...
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Rafal Real Estate Development Company Riyadh-based developer and Rove Hotels announced a strategic partnership to develop multiple Rove Hotels properties in the Saudi capital. The signing ceremony which took place in Riyadh officially marks the Rove brand s expansion into the Saudi Arabian market with plans for future cities to follow. Rove Hotels is a dynamic award-winning lifestyle brand that has rapidly emerged as one of the fastest-growing hospitality brands in the Middle East. Born in Dubai as a joint venture between Emaar Properties and Dubai Holding Rove already boasts over 8 000 keys open or under development. The brand is defined by its smart vibrant design seamless and fuss-free service culture and a robust commitment to sustainability appealing to the modern traveller seeking both style and substance. Under the agreement the ...
Saudi Arabia s construction and building sector topped the list as the most attractive field at the Land of Opportunities zone at the Biban Forum 2025 organised by the Small and Medium Enterprises General Authority (Monsha at). The zone witnessed strong participation from entrepreneurs and investors with active engagement covering more than 10 000 investment opportunities across 13 economic sectors. The construction sector was followed by the information and communications technology (ICT) sector on the list. This trend reflects robust demand for infrastructure and real estate development projects as well as the growing interest in digital transformation and technology-driven solutions said a report by Saudi Press Agency. The Land of Opportunities zone showcased a wide range of investment prospects offered by government and private entities highlighting the depth and diversity of the Saudi economy. These opportunities covered sectors such as agriculture m...
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Saudi Arabia s construction and building sector topped the list as the most attractive field at the Land of Opportunities zone at the Biban Forum 2025 organised by the Small and Medium Enterprises General Authority (Monsha at). The zone witnessed strong participation from entrepreneurs and investors with active engagement covering more than 10 000 investment opportunities across 13 economic sectors. The construction sector was followed by the information and communications technology (ICT) sector on the list. This trend reflects robust demand for infrastructure and real estate development projects as well as the growing interest in digital transformation and technology-driven solutions said a report by Saudi Press Agency. The Land of Opportunities zone showcased a wide range of investment prospects offered by government and private entities highlighting the depth and diversity of the Saudi economy. These opportunities covered sectors such as agriculture m...
The construction of the Dubai Metro Blue Line has reached 10 percent completion just five months after its ground-breaking ceremony in June 2025. The AED56.5 billion ( 15.38 billion) project spans 30 km and includes 14 stations linking the Red and Green Lines and connecting key residential economic and educational districts. Over 500 engineers and experts along with 3 000 workers are currently deployed across 12 sites to accelerate progress said Mattar Al Tayer Director-General and Chairman of the Board of Executive Directors of Dubai s Roads and Transport Authority (RTA) according to a WAM news . Al Tayer confirmed that work is proceeding on schedule with 30 percent completion expected by the end of 2026 and operations set to begin on September 9 2029. The Dubai Metro Blue Line is one of RTA s most strategic projects serving areas expected to house around one million residents by 2040 and offering direct journeys to Dubai International Airport i...
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The construction of the Dubai Metro Blue Line has reached 10 percent completion just five months after its ground-breaking ceremony in June 2025. The AED56.5 billion ( 15.38 billion) project spans 30 km and includes 14 stations linking the Red and Green Lines and connecting key residential economic and educational districts. Over 500 engineers and experts along with 3 000 workers are currently deployed across 12 sites to accelerate progress said Mattar Al Tayer Director-General and Chairman of the Board of Executive Directors of Dubai s Roads and Transport Authority (RTA) according to a WAM news . Al Tayer confirmed that work is proceeding on schedule with 30 percent completion expected by the end of 2026 and operations set to begin on September 9 2029. The Dubai Metro Blue Line is one of RTA s most strategic projects serving areas expected to house around one million residents by 2040 and offering direct journeys to Dubai International Airport i...
The construction sector maintained a remarkable growth in Dubai with a value addition of AED16 billion ( 4.36 billion) in H1 2025 said a report. The sector contributed 6.7 percent to GDP recording 8.5 percent growth year-on-year. In Q2 the sector grew by 14.9 percent contributing 6.2 percent to GDP supported by increased government spending on development projects that boosted economic activity. Meanwhile Dubai s economy continued to maintain its strong upward momentum in the first half of 2025 surpassing projections and consolidating its position as a one of the world s most vibrant and competitive urban economies. The emirate s GDP grew 4.4 percent to reach AED241 billion ( 65.62 billion) in the first half of the year. In the second quarter alone Dubai s GDP climbed 4.7 percent to AED122 billion ( 33.22 billion). This high performance was driven by exceptional results across key sectors that continue to underpin Dubai s sustainable growth and econom...
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The construction sector maintained a remarkable growth in Dubai with a value addition of AED16 billion ( 4.36 billion) in H1 2025 said a report. The sector contributed 6.7 percent to GDP recording 8.5 percent growth year-on-year. In Q2 the sector grew by 14.9 percent contributing 6.2 percent to GDP supported by increased government spending on development projects that boosted economic activity. Meanwhile Dubai s economy continued to maintain its strong upward momentum in the first half of 2025 surpassing projections and consolidating its position as a one of the world s most vibrant and competitive urban economies. The emirate s GDP grew 4.4 percent to reach AED241 billion ( 65.62 billion) in the first half of the year. In the second quarter alone Dubai s GDP climbed 4.7 percent to AED122 billion ( 33.22 billion). This high performance was driven by exceptional results across key sectors that continue to underpin Dubai s sustainable growth and econom...
The Chartered Institute of Building (CIOB) is targeting accelerated expansion across the Middle East and North Africa (MENA) region with Saudi Arabia and Egypt identified as priority markets according to the top official of the international professional authority for construction management and leadership that sets and maintains high standards for building professionals worldwide. In an exclusive interview with Gulf Construction s Bina Goveas President Paul Gandy says his vision aligned with CIOB s corporate plan is to help the sector in MENA thrive through sustained investment sustainable practice and a strengthened skills base. The region is experiencing rapid growth and with that comes an opportunity to ensure new projects deliver long-term social economic and environmental value. Encouraging responsible investment is essential if we are to build resilient communities and world-class infrastructure he says. Sustainability tackling skil...
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The Chartered Institute of Building (CIOB) is targeting accelerated expansion across the Middle East and North Africa (MENA) region with Saudi Arabia and Egypt identified as priority markets according to the top official of the international professional authority for construction management and leadership that sets and maintains high standards for building professionals worldwide. In an exclusive interview with Gulf Construction s Bina Goveas President Paul Gandy says his vision aligned with CIOB s corporate plan is to help the sector in MENA thrive through sustained investment sustainable practice and a strengthened skills base. The region is experiencing rapid growth and with that comes an opportunity to ensure new projects deliver long-term social economic and environmental value. Encouraging responsible investment is essential if we are to build resilient communities and world-class infrastructure he says. Sustainability tackling skil...
Saudi Arabia s real estate market is soaring fuelled by bold reforms and economic momentum says a report by CBRE Middle East a global leader in commercial real estate. CBRE s Q3 2025 Saudi Arabia Real Estate Market Review sees a resilient and rapidly evolving landscape driven by robust non-oil economic growth landmark regulatory reforms and rising development activity across key sectors. Saudi Arabia s real GDP grew by 3.9% year-on-year in Q2 prompting an upward revision of the 2025 forecast to 4.2% with the non-oil sector now contributing 56% of total GDP. This diversification is fuelling sustained demand across residential office retail hospitality and industrial markets. Three major policy interventions in Q3 are set to redefine the Kingdom s real estate trajectory the report said. They are: New ownership law for non-Saudis: Announced in July and set to take effect in January 2026 this landmark legislation opens the market to foreign invest...
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Saudi Arabia s real estate market is soaring fuelled by bold reforms and economic momentum says a report by CBRE Middle East a global leader in commercial real estate. CBRE s Q3 2025 Saudi Arabia Real Estate Market Review sees a resilient and rapidly evolving landscape driven by robust non-oil economic growth landmark regulatory reforms and rising development activity across key sectors. Saudi Arabia s real GDP grew by 3.9% year-on-year in Q2 prompting an upward revision of the 2025 forecast to 4.2% with the non-oil sector now contributing 56% of total GDP. This diversification is fuelling sustained demand across residential office retail hospitality and industrial markets. Three major policy interventions in Q3 are set to redefine the Kingdom s real estate trajectory the report said. They are: New ownership law for non-Saudis: Announced in July and set to take effect in January 2026 this landmark legislation opens the market to foreign invest...
Saudi Arabia s real estate market is soaring fuelled by bold reforms and economic momentum says a report by CBRE Middle East a global leader in commercial real estate. CBRE s Q3 2025 Saudi Arabia Real Estate Market Review sees a resilient and rapidly evolving landscape driven by robust non-oil economic growth landmark regulatory reforms and rising development activity across key sectors. Saudi Arabia s real GDP grew by 3.9% year-on-year in Q2 prompting an upward revision of the 2025 forecast to 4.2% with the non-oil sector now contributing 56% of total GDP. This diversification is fuelling sustained demand across residential office retail hospitality and industrial markets. Three major policy interventions in Q3 are set to redefine the Kingdom s real estate trajectory the report said. They are: New ownership law for non-Saudis: Announced in July and set to take effect in January 2026 this landmark legislation opens the market to foreign invest...
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Saudi Arabia s real estate market is soaring fuelled by bold reforms and economic momentum says a report by CBRE Middle East a global leader in commercial real estate. CBRE s Q3 2025 Saudi Arabia Real Estate Market Review sees a resilient and rapidly evolving landscape driven by robust non-oil economic growth landmark regulatory reforms and rising development activity across key sectors. Saudi Arabia s real GDP grew by 3.9% year-on-year in Q2 prompting an upward revision of the 2025 forecast to 4.2% with the non-oil sector now contributing 56% of total GDP. This diversification is fuelling sustained demand across residential office retail hospitality and industrial markets. Three major policy interventions in Q3 are set to redefine the Kingdom s real estate trajectory the report said. They are: New ownership law for non-Saudis: Announced in July and set to take effect in January 2026 this landmark legislation opens the market to foreign invest...
SAL Logistics Services the national leader in cargo handling logistics solutions and supply chain management in Saudi Arabia has signed a strategic partnership agreement with TAM Group to strengthen air cargo operations between China and the Kingdom. The signing took place on the sidelines of the Transport Logistic Southeast Asia Exhibition in Singapore one of the world s leading events in the transport and logistics sector and was attended by top industry leaders from around the globe. This partnership marks SAL s first international expansion entering the Chinese market through TAM Group a key milestone in expanding into one of the world s largest and most dynamic logistics markets. Both parties will combine their expertise to enhance the trade corridor between China and Saudi Arabia addressing the growing demand across multiple sectors particularly e-commerce while developing innovative freight solutions that boost operational efficiency and open new hor...
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SAL Logistics Services the national leader in cargo handling logistics solutions and supply chain management in Saudi Arabia has signed a strategic partnership agreement with TAM Group to strengthen air cargo operations between China and the Kingdom. The signing took place on the sidelines of the Transport Logistic Southeast Asia Exhibition in Singapore one of the world s leading events in the transport and logistics sector and was attended by top industry leaders from around the globe. This partnership marks SAL s first international expansion entering the Chinese market through TAM Group a key milestone in expanding into one of the world s largest and most dynamic logistics markets. Both parties will combine their expertise to enhance the trade corridor between China and Saudi Arabia addressing the growing demand across multiple sectors particularly e-commerce while developing innovative freight solutions that boost operational efficiency and open new hor...
Parsons Corporation has announced that it has secured a 56 million contract from Diriyah Company to provide design and construction supervision services for the Phase II of its mega project coming up in Riyadh. Diriyah home to the At-Turaif Unesco World Heritage Site is the well-preserved birthplace of the Kingdom of Saudi Arabia and was the ancestral home of House Al Saud Saudi Arabia s royal family. Diriyah Company is creating a mixed-use urban destination just 15 minutes from the centre of Riyadh that combines traditional Najdi architectural styles with modern urbanism. Upon completion the first phase of the landmark giga-project will be 100% walkable and provide a unique opportunity to visit live work shop and dine in a setting that pays homage to the Kingdom s past. Under the 5-year contract Parsons will support the design and delivery of a series of iconic and neighborhood parks open spaces and over 55km of streetscape. ...
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Parsons Corporation has announced that it has secured a 56 million contract from Diriyah Company to provide design and construction supervision services for the Phase II of its mega project coming up in Riyadh. Diriyah home to the At-Turaif Unesco World Heritage Site is the well-preserved birthplace of the Kingdom of Saudi Arabia and was the ancestral home of House Al Saud Saudi Arabia s royal family. Diriyah Company is creating a mixed-use urban destination just 15 minutes from the centre of Riyadh that combines traditional Najdi architectural styles with modern urbanism. Upon completion the first phase of the landmark giga-project will be 100% walkable and provide a unique opportunity to visit live work shop and dine in a setting that pays homage to the Kingdom s past. Under the 5-year contract Parsons will support the design and delivery of a series of iconic and neighborhood parks open spaces and over 55km of streetscape. ...
Construction across the Gulf continues to set global benchmarks for speed scale and ambition. And the region s shift toward smart cities and data-centric infrastructure is introducing a new measure of success: how well a building communicates. Increasingly the digital foundations laid during construction determine whether a building can deliver the intelligence owners and occupants now expect. In the past connectivity was often addressed only once physical works were complete. Today that practice risks costly delays operational constraints and underperforming systems. Industry leaders across the Gulf now view the network as a core utility essential to the architectural and engineering planning process and best designed before concrete is poured and ceilings are closed. During construction reliable connectivity supports the daily realities of modern delivery: remote design reviews cloud-based project management digital health and safety monitoring and ...
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Construction across the Gulf continues to set global benchmarks for speed scale and ambition. And the region s shift toward smart cities and data-centric infrastructure is introducing a new measure of success: how well a building communicates. Increasingly the digital foundations laid during construction determine whether a building can deliver the intelligence owners and occupants now expect. In the past connectivity was often addressed only once physical works were complete. Today that practice risks costly delays operational constraints and underperforming systems. Industry leaders across the Gulf now view the network as a core utility essential to the architectural and engineering planning process and best designed before concrete is poured and ceilings are closed. During construction reliable connectivity supports the daily realities of modern delivery: remote design reviews cloud-based project management digital health and safety monitoring and ...
Spanish infrastructure major Acciona with its commitment to advancing sustainable and efficient logistics management has successfully developed and deployed a new innovative digital transport solutions (DTS) platform in Qatar marking a significant milestone in the facility management sector in the Middle East. Designed to tackle the growing challenges of modern supply chains DTS integrates digitalisation and intelligent optimisation into a single platform. It enhances visibility efficiency and adaptability across logistics operations - elements that are no longer optional but essential in today s fast-paced environment. At the heart of DTS is a Personalized Operational Center which centralises all logistics processes enabling real-time monitoring co-ordination and decision-making. The platform is complemented by a dedicated Driver App ensuring optimised route planning real-time delivery tracking and transparent communication between dri...
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Spanish infrastructure major Acciona with its commitment to advancing sustainable and efficient logistics management has successfully developed and deployed a new innovative digital transport solutions (DTS) platform in Qatar marking a significant milestone in the facility management sector in the Middle East. Designed to tackle the growing challenges of modern supply chains DTS integrates digitalisation and intelligent optimisation into a single platform. It enhances visibility efficiency and adaptability across logistics operations - elements that are no longer optional but essential in today s fast-paced environment. At the heart of DTS is a Personalized Operational Center which centralises all logistics processes enabling real-time monitoring co-ordination and decision-making. The platform is complemented by a dedicated Driver App ensuring optimised route planning real-time delivery tracking and transparent communication between dri...
Saudi-based Sumou Real Estate Company has announced the signing of an infrastructure development works contract with Diyar Real Estate Development Company (a key entity which represents a real estate fund managed by Sedco Capital Company) for a project in the port city of Jeddah. As per the SAR135 million ( 36.01 million) deal the company will develop and execute infrastructure works on a 960 000-sq-m project located in the North Obhur neighborhood in Jeddah said Sumou Real Estate Company in its filing to the Saudi bourse Tadawul. The entire work will be completed within a two-year period it stated. The project is expected to have a positive impact on the company s results it added.- TradeArabia News Service ...
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Saudi-based Sumou Real Estate Company has announced the signing of an infrastructure development works contract with Diyar Real Estate Development Company (a key entity which represents a real estate fund managed by Sedco Capital Company) for a project in the port city of Jeddah. As per the SAR135 million ( 36.01 million) deal the company will develop and execute infrastructure works on a 960 000-sq-m project located in the North Obhur neighborhood in Jeddah said Sumou Real Estate Company in its filing to the Saudi bourse Tadawul. The entire work will be completed within a two-year period it stated. The project is expected to have a positive impact on the company s results it added.- TradeArabia News Service ...
Noatum Logistics an AD Ports Group company and a leading global logistics management services provider has signed a preliminary agreement with Hafeet Rail developer and operator of the first cross-border railway network connecting Oman and the UAE to establish a new rail service between Sohar in Oman and Abu Dhabi in the UAE. The agreement was formalised at the Global Rail 2025 exhibition in Abu Dhabi and marks a significant step toward launching a dedicated freight rail corridor between the UAE and Oman. Under the proposed arrangement Noatum Logistics would run a daily rail service leveraging Hafeet Rail s network once completed. The service would run seven container trains per week each with a capacity of 276 TEUs equating to an annual throughput of approximately 193 200 TEUs. The agreement secures dedicated trains for 20ft 40ft and 45ft containers ensuring reliable and consistent capacity from the very first day of operations. These flows will cover a...
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Noatum Logistics an AD Ports Group company and a leading global logistics management services provider has signed a preliminary agreement with Hafeet Rail developer and operator of the first cross-border railway network connecting Oman and the UAE to establish a new rail service between Sohar in Oman and Abu Dhabi in the UAE. The agreement was formalised at the Global Rail 2025 exhibition in Abu Dhabi and marks a significant step toward launching a dedicated freight rail corridor between the UAE and Oman. Under the proposed arrangement Noatum Logistics would run a daily rail service leveraging Hafeet Rail s network once completed. The service would run seven container trains per week each with a capacity of 276 TEUs equating to an annual throughput of approximately 193 200 TEUs. The agreement secures dedicated trains for 20ft 40ft and 45ft containers ensuring reliable and consistent capacity from the very first day of operations. These flows will cover a...
Emirates Central Cooling Systems Corporation (Empower) has announced that it has started work on its second district cooling plant in Jumeirah Village Circle which on completion will have a production capacity of 37 000 refrigeration tonnes (RT). The company confirmed that the construction will proceed according to the approved schedule under the direct supervision of Empower s in-house projects team. Empower said the Jumeirah Village project is one of its largest and most prominent developments. The company is building six advanced district cooling plants to serve the entire area with a combined capacity of 256 000 RT. The new plant the second in the area will join the existing world s first unmanned district cooling plant which has a cooling capacity of 49 000 RT it stated. Featuring advanced cooling technologies that offer high energy and water efficiency the new plant will provide services to numerous residential commercia...
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Emirates Central Cooling Systems Corporation (Empower) has announced that it has started work on its second district cooling plant in Jumeirah Village Circle which on completion will have a production capacity of 37 000 refrigeration tonnes (RT). The company confirmed that the construction will proceed according to the approved schedule under the direct supervision of Empower s in-house projects team. Empower said the Jumeirah Village project is one of its largest and most prominent developments. The company is building six advanced district cooling plants to serve the entire area with a combined capacity of 256 000 RT. The new plant the second in the area will join the existing world s first unmanned district cooling plant which has a cooling capacity of 49 000 RT it stated. Featuring advanced cooling technologies that offer high energy and water efficiency the new plant will provide services to numerous residential commercia...
Riyad Capital one of the k ingdom s largest asset managers and a leading company in real estate investment has announced that it will join hands with the Saudi Railway Company (SAR) to establish a real estate fund aimed at developing a mixed-use project based on the Transit Oriented Development (TOD) model a global concept focused on creating integrated urban communities adjacent to public transport stations. The project will be developed on a 90 000-sq-m land plot located in the Al Rusifah district near the Haramain High-Speed Railway Station in Makkah at s...
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Riyad Capital one of the k ingdom s largest asset managers and a leading company in real estate investment has announced that it will join hands with the Saudi Railway Company (SAR) to establish a real estate fund aimed at developing a mixed-use project based on the Transit Oriented Development (TOD) model a global concept focused on creating integrated urban communities adjacent to public transport stations. The project will be developed on a 90 000-sq-m land plot located in the Al Rusifah district near the Haramain High-Speed Railway Station in Makkah at s...
Leading UAE developer Arada has awarded the construction contract for the Rove Aljada hotel cluster located within the AED35 billion ( 9.5 billion) Sharjah megaproject. Spread across four blocks the Rove Aljada hotel and Rove Home Aljada branded residences buildings are ideally based next to the upcoming commercial district Arada CBD and Madar Mall. The AED397 million contract has been awarded to Modern Building Contracting Company (MBCC) which will begin construction of the cluster immediately with a completion set for December 2027. Once ready the Rove Aljada hotel will feature 192 rooms along with key amenities such as a rooftop swimming pool co-working spaces a 24-hour gym and an all-day dining restaurant among other facilities said the statement from Arada. Rove Home Aljada consists of 306 high-end branded residences and serviced apartments including one- two- and three-bedroom layouts within a building featuring colourful and contempora...
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Leading UAE developer Arada has awarded the construction contract for the Rove Aljada hotel cluster located within the AED35 billion ( 9.5 billion) Sharjah megaproject. Spread across four blocks the Rove Aljada hotel and Rove Home Aljada branded residences buildings are ideally based next to the upcoming commercial district Arada CBD and Madar Mall. The AED397 million contract has been awarded to Modern Building Contracting Company (MBCC) which will begin construction of the cluster immediately with a completion set for December 2027. Once ready the Rove Aljada hotel will feature 192 rooms along with key amenities such as a rooftop swimming pool co-working spaces a 24-hour gym and an all-day dining restaurant among other facilities said the statement from Arada. Rove Home Aljada consists of 306 high-end branded residences and serviced apartments including one- two- and three-bedroom layouts within a building featuring colourful and contempora...
In a major move Kuwait has issued a new decree regulating real estate ownership by companies investment funds and portfolios including those with foreign partners under specific conditions reported Arab Times. citing the official gazette (Kuwait Alyawm). Under this firms with expat partners that are listed on Kuwaiti stock exchanges - along with real estate funds and investment portfolios licensed by Kuwaiti authorities - can own real estate if their stated purpose includes real estate activities stated the report. It implements the provisions of Decree Law No.74 of 1979 which governs property ownership by non-Kuwaitis. Under the Kuwaiti law issued in 1979 such companies were barred from owning property in the country and only Arab individuals could buy a house or land through an Amiri decree stated the Arab Times report. According to the old legislation foreigners who inherit property from their Kuwaiti mothers must sell it within o...
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In a major move Kuwait has issued a new decree regulating real estate ownership by companies investment funds and portfolios including those with foreign partners under specific conditions reported Arab Times. citing the official gazette (Kuwait Alyawm). Under this firms with expat partners that are listed on Kuwaiti stock exchanges - along with real estate funds and investment portfolios licensed by Kuwaiti authorities - can own real estate if their stated purpose includes real estate activities stated the report. It implements the provisions of Decree Law No.74 of 1979 which governs property ownership by non-Kuwaitis. Under the Kuwaiti law issued in 1979 such companies were barred from owning property in the country and only Arab individuals could buy a house or land through an Amiri decree stated the Arab Times report. According to the old legislation foreigners who inherit property from their Kuwaiti mothers must sell it within o...
Alec Holdings a diversified engineering and construction group in UAE has announced its listing on Dubai Financial Market thus marking UAE s largest-ever initial public offering in the construction sector by both valuation and size and the first in the sector in over 15 years. The company s successful debut on the DFM follows the completion of a fully subscribed IPO which raised AED1.4 billion ( 381 million) through the sale of 1 billion existing ordinary shares by the selling shareholder the Investment Corporation of Dubai (ICD) the principal investment arm of the Government of Dubai. According to DFM the offering represented 20% of the company s issued share capital. Following the listing the Investment Corporation of Dubai (ICD) Alec s sole selling shareholder will retain an 80% stake in the company. Annou...
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Alec Holdings a diversified engineering and construction group in UAE has announced its listing on Dubai Financial Market thus marking UAE s largest-ever initial public offering in the construction sector by both valuation and size and the first in the sector in over 15 years. The company s successful debut on the DFM follows the completion of a fully subscribed IPO which raised AED1.4 billion ( 381 million) through the sale of 1 billion existing ordinary shares by the selling shareholder the Investment Corporation of Dubai (ICD) the principal investment arm of the Government of Dubai. According to DFM the offering represented 20% of the company s issued share capital. Following the listing the Investment Corporation of Dubai (ICD) Alec s sole selling shareholder will retain an 80% stake in the company. Annou...
Saudi-based SAL Saudi Logistics Services has signed a strategic agreement with Saudi Post to enhance mail handling and transportation operations across various regions of the Kingdom. As per the agreement SAL will provide ground handling services for postal and commercial shipments. Under this 12-month contract SAL will fully oversee mail and parcel handling from the moment it is received equip dedicated loading units ensure safety during storage and transportation and manage their movement between warehouses postal facilities and aircraft said the Saudi logistics group in its filing to Saudi bourse Tadawul. This agreement aims to raise the efficiency of courier operations and achieve greater streamlining of services thereby enhancing the integration of services between the postal and logistics sectors in the kingdom. The final value of the agreement is based on the demand for services at the prices specified it added.- TradeArabi...
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Saudi-based SAL Saudi Logistics Services has signed a strategic agreement with Saudi Post to enhance mail handling and transportation operations across various regions of the Kingdom. As per the agreement SAL will provide ground handling services for postal and commercial shipments. Under this 12-month contract SAL will fully oversee mail and parcel handling from the moment it is received equip dedicated loading units ensure safety during storage and transportation and manage their movement between warehouses postal facilities and aircraft said the Saudi logistics group in its filing to Saudi bourse Tadawul. This agreement aims to raise the efficiency of courier operations and achieve greater streamlining of services thereby enhancing the integration of services between the postal and logistics sectors in the kingdom. The final value of the agreement is based on the demand for services at the prices specified it added.- TradeArabi...
Saif Bin Darwish a leading construction and contracting company in UAE said it has acquired Gulf Precast the country s largest manufacturer of precast concrete in a move aimed at boosting its leadership in construction sector. Saif Bin Darwish is an integral part of the Darwish Bin Ahmed and Sons group which represents a fully established and locally-owned series of business groups for over 40 years across four continents in more than 50 countries. The Emirati company has played a key role in several residential commercial and infrastructure projects within the UAE and abroad achieving a distinguished record of awards and recognition. This acquisition represents a significant strategic move that allows for the integration of Saif Bin Darwish s extensive expertise in road bridge airport and tunnel projects with the advanced manufacturing capabilities of Gulf Precast said a statement from the company. This synergy enhances their combined potent...
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Saif Bin Darwish a leading construction and contracting company in UAE said it has acquired Gulf Precast the country s largest manufacturer of precast concrete in a move aimed at boosting its leadership in construction sector. Saif Bin Darwish is an integral part of the Darwish Bin Ahmed and Sons group which represents a fully established and locally-owned series of business groups for over 40 years across four continents in more than 50 countries. The Emirati company has played a key role in several residential commercial and infrastructure projects within the UAE and abroad achieving a distinguished record of awards and recognition. This acquisition represents a significant strategic move that allows for the integration of Saif Bin Darwish s extensive expertise in road bridge airport and tunnel projects with the advanced manufacturing capabilities of Gulf Precast said a statement from the company. This synergy enhances their combined potent...
Following a spectacular opening day Cityscape Qatar 2025 the nation s premier real estate exhibition surged into day two at the Doha Exhibition and Convention Center with momentum and energy according to the event organisers. Day two delivered a fascinating showcase of innovation immersive activations and strategic collaboration that cemented the event s status as the must-attend platform for the sector. The event saw global visionaries investors and developers explore the next era of property development as well as discover groundbreaking projects and unlock new investment opportunities. Across the exhibition floor thousands of visitors explored a dynamic mix of pavilions networking areas and interactive experiences as the region s biggest developers and institutions unveiled projects spanning residential hospitality industrial and mixed-use sectors said the event organisers. Exhibitors including JMJ which drew crowds with i...
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Following a spectacular opening day Cityscape Qatar 2025 the nation s premier real estate exhibition surged into day two at the Doha Exhibition and Convention Center with momentum and energy according to the event organisers. Day two delivered a fascinating showcase of innovation immersive activations and strategic collaboration that cemented the event s status as the must-attend platform for the sector. The event saw global visionaries investors and developers explore the next era of property development as well as discover groundbreaking projects and unlock new investment opportunities. Across the exhibition floor thousands of visitors explored a dynamic mix of pavilions networking areas and interactive experiences as the region s biggest developers and institutions unveiled projects spanning residential hospitality industrial and mixed-use sectors said the event organisers. Exhibitors including JMJ which drew crowds with i...
The GCC construction sector - valued at SAR667 billion ( 178 in 2025 - is poised for solid growth over the next five years with the market set to hit SAR 850.96 billion ( 227 billion) by 2030 growing at a CAGR of more than 5% during the period said a report released ahead of the second edition of a key HVAC industry event in Riyadh. The second edition of the Middle East Industry Congress - HVACR Next Generation: Sustainability in Extreme Conditions is being hosted by Eurovent Middle East in cooperation with the Air Movement and Control Association (AMCA) on October 28 at the InterContinental Durrat Al Riyadh Resort & Spa Saudi Arabia. Supported by leading HVACR manufacturers the congress will bring together government officials industry leaders and stakeholders to explore the challenges and opportunities shaping the future of the HVACR sector in one of the world s most demanding climates. This rapid GCC construction sector expansion is expected to d...
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The GCC construction sector - valued at SAR667 billion ( 178 in 2025 - is poised for solid growth over the next five years with the market set to hit SAR 850.96 billion ( 227 billion) by 2030 growing at a CAGR of more than 5% during the period said a report released ahead of the second edition of a key HVAC industry event in Riyadh. The second edition of the Middle East Industry Congress - HVACR Next Generation: Sustainability in Extreme Conditions is being hosted by Eurovent Middle East in cooperation with the Air Movement and Control Association (AMCA) on October 28 at the InterContinental Durrat Al Riyadh Resort & Spa Saudi Arabia. Supported by leading HVACR manufacturers the congress will bring together government officials industry leaders and stakeholders to explore the challenges and opportunities shaping the future of the HVACR sector in one of the world s most demanding climates. This rapid GCC construction sector expansion is expected to d...
Arcapita Group Holdings Limited (Arcapita) a global alternative investment firm today announced the exit of ARC US Industrial Portfolio VI a Class A industrial distribution facility located in Dallas-Fort Worth (DFW) Texas and fully leased to Federal Express Corporation (FedEx) under a long-term triple net lease. The asset was acquired by Ares Management a leading global alternative investment manager. The property which spans 776 629 sq ft was acquired by Arcapita in January 2021 and strategically selected for its proximity to major interstate highways intermodal rail terminals and FedEx s second-largest US distribution hub located just four miles away. The facility serves as a critical node in FedEx s logistics network benefitting from a dense population base and robust regional demand for industrial space. img src= data:image/jpeg;base64 /9j/4AAQSkZJRgABAgAAZABkAAD/7AAxRHVja3kAAQAEAAAAZAADABwAAAAMAEEAbABpACAAQQBsAHIAaQBmAGYAYQBpAAD/7gAOQWRvYmU...
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Arcapita Group Holdings Limited (Arcapita) a global alternative investment firm today announced the exit of ARC US Industrial Portfolio VI a Class A industrial distribution facility located in Dallas-Fort Worth (DFW) Texas and fully leased to Federal Express Corporation (FedEx) under a long-term triple net lease. The asset was acquired by Ares Management a leading global alternative investment manager. The property which spans 776 629 sq ft was acquired by Arcapita in January 2021 and strategically selected for its proximity to major interstate highways intermodal rail terminals and FedEx s second-largest US distribution hub located just four miles away. The facility serves as a critical node in FedEx s logistics network benefitting from a dense population base and robust regional demand for industrial space. img src= data:image/jpeg;base64 /9j/4AAQSkZJRgABAgAAZABkAAD/7AAxRHVja3kAAQAEAAAAZAADABwAAAAMAEEAbABpACAAQQBsAHIAaQBmAGYAYQBpAAD/7gAOQWRvYmU...
DP World a leading provider of smart end-to-end logistics solutions has entered into a joint venture agreement with Tashkent Invest a subsidiary of the Tashkent City Administration to develop and manage a state-of-the-art multimodal logistics terminal near the Uzbek capital. Under the deal Tashkent Invest will contribute 15% of the joint venture s equity capital. DP World will hold the remaining 85%. The total investment in the project is over 288 million across three phases. The partnership marks a significant step in advancing Uzbekistan s logistics infrastructure and its ambition to become a regional trade hub. The new terminal in the Yangi Avlod Special Industrial Zone located in the Yangihayot region of Tashkent will enhance connectivity efficiency and trade facilitation across Central Asia contributing to Uzbekistan s economic diversification and industrial growth. The joint venture company DP World...
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DP World a leading provider of smart end-to-end logistics solutions has entered into a joint venture agreement with Tashkent Invest a subsidiary of the Tashkent City Administration to develop and manage a state-of-the-art multimodal logistics terminal near the Uzbek capital. Under the deal Tashkent Invest will contribute 15% of the joint venture s equity capital. DP World will hold the remaining 85%. The total investment in the project is over 288 million across three phases. The partnership marks a significant step in advancing Uzbekistan s logistics infrastructure and its ambition to become a regional trade hub. The new terminal in the Yangi Avlod Special Industrial Zone located in the Yangihayot region of Tashkent will enhance connectivity efficiency and trade facilitation across Central Asia contributing to Uzbekistan s economic diversification and industrial growth. The joint venture company DP World...
Ajman s Department of Land and Real Estate Regulation said 5 048 real estate transactions were registered during the third quarter of 2025 with a total value exceeding AED8.12 billion ( 2.21 billion) marking a 47% growth compared to the same period last year. Omar bin Omair Al Muhairi Director-General of the Department stated that the figures recorded during the third quarter reflect the continued positive momentum in Ajman s real estate market. He noted that the diversity of real estate projects and the noticeable increase in the number of investors are due to a supportive and stimulating business environment that enhances confidence and ensures a comprehensive and successful investment experience said a Wam news agency report. He pointed out that the total trading volume reached AED5.22 billion from 4 102 transactions. The Al Rumaila 3 area recorded the highest sales value at AED300 million while the Emirates City project topped the list of major projects with th...
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Ajman s Department of Land and Real Estate Regulation said 5 048 real estate transactions were registered during the third quarter of 2025 with a total value exceeding AED8.12 billion ( 2.21 billion) marking a 47% growth compared to the same period last year. Omar bin Omair Al Muhairi Director-General of the Department stated that the figures recorded during the third quarter reflect the continued positive momentum in Ajman s real estate market. He noted that the diversity of real estate projects and the noticeable increase in the number of investors are due to a supportive and stimulating business environment that enhances confidence and ensures a comprehensive and successful investment experience said a Wam news agency report. He pointed out that the total trading volume reached AED5.22 billion from 4 102 transactions. The Al Rumaila 3 area recorded the highest sales value at AED300 million while the Emirates City project topped the list of major projects with th...
The Dubai real estate sector s upward trajectory over the last five years is highlighted by a new market report today (October 9) which points towards long-term stability and sustainable growth for investors. Over the first nine months of 2025 compared with the same period in 2021 real estate sales soared by 379.9 %. in value from AED104 billion ( 28.3 billion) to AED499 billion ( 135 billion). Transaction volume also jumped by 266% from 43 200 to 158 400. The dramatic upward curve for the January-September period culminated in a 32.4 % increase in total sales value and a 20.6 % rise in transactions over the last 12 months alone. A market study from fäm Properties shows that average overall monthly real estate sales rose sharply from 14 600 transactions worth AED41.89 billion for the first nine months in 2024 to 17 600 deals amounting to AED55.46 billion this year. Average sales values and volumes were also u...
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The Dubai real estate sector s upward trajectory over the last five years is highlighted by a new market report today (October 9) which points towards long-term stability and sustainable growth for investors. Over the first nine months of 2025 compared with the same period in 2021 real estate sales soared by 379.9 %. in value from AED104 billion ( 28.3 billion) to AED499 billion ( 135 billion). Transaction volume also jumped by 266% from 43 200 to 158 400. The dramatic upward curve for the January-September period culminated in a 32.4 % increase in total sales value and a 20.6 % rise in transactions over the last 12 months alone. A market study from fäm Properties shows that average overall monthly real estate sales rose sharply from 14 600 transactions worth AED41.89 billion for the first nine months in 2024 to 17 600 deals amounting to AED55.46 billion this year. Average sales values and volumes were also u...
Arcapita Group Holdings the global alternative investment firm has announced the launch of Lintara Properties a dedicated real estate asset manager developer and investment advisor operating in key regional markets including Saudi Arabia UAE and Bahrain. A major player in the region the Bahrain-headquartered Arcapita manages more than 1 billion in industrial real estate assets across the GCC serving a diversified tenant base that includes global and regional leaders such as DSV Obeikan and Iron Mountain. The new entity Lintara will provide asset management and development services to Arcapita s existing and future GCC industrial real estate funds positioning these funds with the scale and market reach to drive accelerated growth. With this foundation Lintara is well positioned to be the partner of choice for logistics and industrial tenants pursuing strategic expansion across the region. Launching wit...
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Arcapita Group Holdings the global alternative investment firm has announced the launch of Lintara Properties a dedicated real estate asset manager developer and investment advisor operating in key regional markets including Saudi Arabia UAE and Bahrain. A major player in the region the Bahrain-headquartered Arcapita manages more than 1 billion in industrial real estate assets across the GCC serving a diversified tenant base that includes global and regional leaders such as DSV Obeikan and Iron Mountain. The new entity Lintara will provide asset management and development services to Arcapita s existing and future GCC industrial real estate funds positioning these funds with the scale and market reach to drive accelerated growth. With this foundation Lintara is well positioned to be the partner of choice for logistics and industrial tenants pursuing strategic expansion across the region. Launching wit...
The Nemetschek Group one of the world s leading software providers for the Architecture Engineering Construction and Operations (AEC/O) industry has partnered with WakeCap Technologies a leading construction technology company in the Middle East to unlock new opportunities by combining global software leadership with cutting-edge wearable technologies. This agreement sets the stage for a strategic collaboration aimed at accelerating digital transformation across the Gulf Cooperation Council s (GCC) construction ecosystem the companies said. The partnership leverages the strengths of both companies: Nemetschek Group s extensive portfolio of industry-leading software solutions and WakeCap s cutting-edge sensor-powered project-controls platform which delivers real-time workforce visibility and site-wide intelligence. Currently deployed across 100 billion worth giga-projects with the region s most extensive workforce database tracking over 150 million wo...
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The Nemetschek Group one of the world s leading software providers for the Architecture Engineering Construction and Operations (AEC/O) industry has partnered with WakeCap Technologies a leading construction technology company in the Middle East to unlock new opportunities by combining global software leadership with cutting-edge wearable technologies. This agreement sets the stage for a strategic collaboration aimed at accelerating digital transformation across the Gulf Cooperation Council s (GCC) construction ecosystem the companies said. The partnership leverages the strengths of both companies: Nemetschek Group s extensive portfolio of industry-leading software solutions and WakeCap s cutting-edge sensor-powered project-controls platform which delivers real-time workforce visibility and site-wide intelligence. Currently deployed across 100 billion worth giga-projects with the region s most extensive workforce database tracking over 150 million wo...
Blackstone the world s largest alternative asset manager and Lunate an Abu Dhabi-based global investment management firm with over 110 billion in assets under management today (October 6) announced a strategic partnership to invest in logistics assets across the GCC. Under the partnership Blackstone which is the largest owner of logistics assets globally at over 1.2 billion sq ft and Lunate which has an extensive regional network and investment capabilities will establish Gulf Logistics Infrastructure Development Enterprise (Glide) - a platform dedicated to the development acquisition and management of Grade A logistics assets across the GCC. It is expected that additional strategic partners in the GCC will also participate in Glide which will have dedicated teams across the region supporting its build-out. Demand for logistics in the GCC is growing rapidly driven by a number of factors including economic growth ...
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Blackstone the world s largest alternative asset manager and Lunate an Abu Dhabi-based global investment management firm with over 110 billion in assets under management today (October 6) announced a strategic partnership to invest in logistics assets across the GCC. Under the partnership Blackstone which is the largest owner of logistics assets globally at over 1.2 billion sq ft and Lunate which has an extensive regional network and investment capabilities will establish Gulf Logistics Infrastructure Development Enterprise (Glide) - a platform dedicated to the development acquisition and management of Grade A logistics assets across the GCC. It is expected that additional strategic partners in the GCC will also participate in Glide which will have dedicated teams across the region supporting its build-out. Demand for logistics in the GCC is growing rapidly driven by a number of factors including economic growth ...
Qatari retailer Al Meera Consumer Goods Company has signed a strategic agreement with Kafy the first innovative platform to facilitate food supply between the hospitality restaurant sectors and suppliers in Qatar to help revolutionise food procurement and logistics sector. The partnership is set to redefine procurement and logistics operations for restaurants cafés home-based businesses and suppliers across the nation. Through this agreement Al Meera and Kafy are introducing a smart fully integrated solution that responds to the growing needs of Qatar s F&B ecosystem. The partnership will enable customers from the hospitality restaurant and cafe sectors to access their daily procurement needs at competitive prices benefit from same-day delivery services available seven days a week reduce waste enhance cost efficiency and enjoy flexible payment op...
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Qatari retailer Al Meera Consumer Goods Company has signed a strategic agreement with Kafy the first innovative platform to facilitate food supply between the hospitality restaurant sectors and suppliers in Qatar to help revolutionise food procurement and logistics sector. The partnership is set to redefine procurement and logistics operations for restaurants cafés home-based businesses and suppliers across the nation. Through this agreement Al Meera and Kafy are introducing a smart fully integrated solution that responds to the growing needs of Qatar s F&B ecosystem. The partnership will enable customers from the hospitality restaurant and cafe sectors to access their daily procurement needs at competitive prices benefit from same-day delivery services available seven days a week reduce waste enhance cost efficiency and enjoy flexible payment op...
Multi-million dollar deals were announced during Saudi Maritime & Logistics Congress which closed in Dammam Saudi Arabia on October 2. The 6th edition of the event under the patronage of the Minister of Transport and Logistic Services Saleh Al-Jasser was visited by Prince Saud bin Naif Al Saud Governor of the Eastern Province. He spoke on Saudi Arabia s outstanding growth in the maritime and logistics sectors under the guidance of Saudi Vision 2030 and its role as a leader in the Middle East which led the way to flurry of important announcements including a Bahri order for six geared ultramax dry bulk carriers to be built at International Maritime Industries (IMI) in Ras Al-Khair Saudi Arabia for a price of SAR 762 million ( 206 million). The ships are slated for delivery in batches between 2028 and 2029. The order is ...
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Multi-million dollar deals were announced during Saudi Maritime & Logistics Congress which closed in Dammam Saudi Arabia on October 2. The 6th edition of the event under the patronage of the Minister of Transport and Logistic Services Saleh Al-Jasser was visited by Prince Saud bin Naif Al Saud Governor of the Eastern Province. He spoke on Saudi Arabia s outstanding growth in the maritime and logistics sectors under the guidance of Saudi Vision 2030 and its role as a leader in the Middle East which led the way to flurry of important announcements including a Bahri order for six geared ultramax dry bulk carriers to be built at International Maritime Industries (IMI) in Ras Al-Khair Saudi Arabia for a price of SAR 762 million ( 206 million). The ships are slated for delivery in batches between 2028 and 2029. The order is ...
Dubai s real estate market hit a new milestone in Q3 2025 recording the highest ever quarterly transaction volume and the second-largest sales value on record pushing total sales for the first nine months of the year to nearly AED500 billion ( 136.15 billion). A market update issued today by fäm Properties revealed that Q3 produced 59 228 sales transactions totalling AED170.7 billion marking YoY increases of 17.2% in volume and 19.9% in value. Data from DXBinteract also shows the full extent of the market s surge in the first nine months of 2025 with total sales reaching AED498.8 billion from 158 200 transactions - up 32.33% in value and 20.46% in volume compared with January-September 2024. Q3 saw 49 370 apartment sales at AED94.3 billion up 25.9% YoY in volume with commercial sales soaring 41.9% in volume to 1 565 transactions valued at AED4.2 billion. /div...
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Dubai s real estate market hit a new milestone in Q3 2025 recording the highest ever quarterly transaction volume and the second-largest sales value on record pushing total sales for the first nine months of the year to nearly AED500 billion ( 136.15 billion). A market update issued today by fäm Properties revealed that Q3 produced 59 228 sales transactions totalling AED170.7 billion marking YoY increases of 17.2% in volume and 19.9% in value. Data from DXBinteract also shows the full extent of the market s surge in the first nine months of 2025 with total sales reaching AED498.8 billion from 158 200 transactions - up 32.33% in value and 20.46% in volume compared with January-September 2024. Q3 saw 49 370 apartment sales at AED94.3 billion up 25.9% YoY in volume with commercial sales soaring 41.9% in volume to 1 565 transactions valued at AED4.2 billion. /div...
Saudi Arabia s Oil Sustainability Program (OSP) and Sika Saudi Arabia have signed a strategic memorandum of understanding to support innovation in the construction and industrial sectors and strengthen environmental and economic sustainability throughout Saudi Arabia. The agreement aligns national efforts to promote sustainable development and localise advanced technologies in the construction and industrial sectors said a Saudi Press Agency report. It focuses on delivering innovative solutions that enhance quality and efficiency reduce emissions and improve the performance of projects across these sectors. The agreement also supports the use of advanced polymer materials and the development of local supply chains in line with the demands of the Saudi market. Areas of collaboration include technical knowledge-sharing capacity building through specialized training programs ...
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Saudi Arabia s Oil Sustainability Program (OSP) and Sika Saudi Arabia have signed a strategic memorandum of understanding to support innovation in the construction and industrial sectors and strengthen environmental and economic sustainability throughout Saudi Arabia. The agreement aligns national efforts to promote sustainable development and localise advanced technologies in the construction and industrial sectors said a Saudi Press Agency report. It focuses on delivering innovative solutions that enhance quality and efficiency reduce emissions and improve the performance of projects across these sectors. The agreement also supports the use of advanced polymer materials and the development of local supply chains in line with the demands of the Saudi market. Areas of collaboration include technical knowledge-sharing capacity building through specialized training programs ...
Persistent uncertainty is set to wipe out 2.5 trillion from the value of construction activity globally this year disrupting delivery across markets according to new global research from Currie & Brown a world-leading provider of cost management project management and advisory services. Organisations are seeing 13.7% of their project pipeline wiped out said the report. The report titled Building Certainty in an Era of Relentless Change surveys over 1 000 global decision-makers each responsible for construction pipelines averaging 12.9 billion. It reveals a disturbing picture of the damaging impact of uncertainty on construction projects and the potential knock-on consequences for the wider economy. It said one in four projects are cancelled outright due to the uncertainty. Most construction leaders expect conditions to worsen in the coming two years it said. ...
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Persistent uncertainty is set to wipe out 2.5 trillion from the value of construction activity globally this year disrupting delivery across markets according to new global research from Currie & Brown a world-leading provider of cost management project management and advisory services. Organisations are seeing 13.7% of their project pipeline wiped out said the report. The report titled Building Certainty in an Era of Relentless Change surveys over 1 000 global decision-makers each responsible for construction pipelines averaging 12.9 billion. It reveals a disturbing picture of the damaging impact of uncertainty on construction projects and the potential knock-on consequences for the wider economy. It said one in four projects are cancelled outright due to the uncertainty. Most construction leaders expect conditions to worsen in the coming two years it said. ...
SC Capital Partners Group a leading Singapore-based institutional real estate investment management firm has launched the SC GCC Real Estate Industrial Development Fund (GRID). CapitaLand Investment Limited (CLI) a leading global real asset manager which holds a 40% stake in SC Capital Partners will co-sponsor the fund. The fund marks a significant step in advancing industrial and logistics development across the GCC with initial projects in the United Arab Emirates and the Saudi Arabia. SC Capital Partners will also collaborate with its affiliated industrial partner THi Holding Management Corporation which will serve as the development manager asset manager and operator. Together the three partners will form a consortium that combines institutional investment expertise with on-the-ground development capabilities to drive the Fund s success. Suchad Chiara...
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SC Capital Partners Group a leading Singapore-based institutional real estate investment management firm has launched the SC GCC Real Estate Industrial Development Fund (GRID). CapitaLand Investment Limited (CLI) a leading global real asset manager which holds a 40% stake in SC Capital Partners will co-sponsor the fund. The fund marks a significant step in advancing industrial and logistics development across the GCC with initial projects in the United Arab Emirates and the Saudi Arabia. SC Capital Partners will also collaborate with its affiliated industrial partner THi Holding Management Corporation which will serve as the development manager asset manager and operator. Together the three partners will form a consortium that combines institutional investment expertise with on-the-ground development capabilities to drive the Fund s success. Suchad Chiara...
Arcapita Group Holdings Limited a global alternative investment firm has exited nine highly functional industrial real estate assets totaling 1.5 million square feet located in Indianapolis Indiana the company said. The portfolio was acquired by Capital Partners a fully integrated logistics real estate specialist. The exit marks a successful outcome for Arcapita and its investors delivered following a volatile macroeconomic environment shaped by significant interest rate increases. The portfolio which included a mix of office flex and distribution facilities delivered stable income and experienced meaningful value appreciation over the holding period. This underscored Arcapita s disciplined investment strategy and its hands-on approach to asset management including tenant engagement leasing activity and operational efficiency. Brian Hebb Managing D...
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Arcapita Group Holdings Limited a global alternative investment firm has exited nine highly functional industrial real estate assets totaling 1.5 million square feet located in Indianapolis Indiana the company said. The portfolio was acquired by Capital Partners a fully integrated logistics real estate specialist. The exit marks a successful outcome for Arcapita and its investors delivered following a volatile macroeconomic environment shaped by significant interest rate increases. The portfolio which included a mix of office flex and distribution facilities delivered stable income and experienced meaningful value appreciation over the holding period. This underscored Arcapita s disciplined investment strategy and its hands-on approach to asset management including tenant engagement leasing activity and operational efficiency. Brian Hebb Managing D...
Emsteel Group one of the region s largest publicly traded steel and building materials manufacturers today announced the launch of TrueGreen a strategic sustainability identity that unifies its decades of decarbonisation initiatives. This new identity establishes industry standards for transparency and accountability in sustainable steel production. The launch follows a series of recent milestones including becoming the first company in Mena to earn ResponsibleSteel certification and launching the world s first pilot of electric process gas heaters in the steelmaking industry. These achievements build upon a long-standing history at the forefront of industrial decarbonisation from its pioneering CCUS Project with Adnoc s Al Reyadah sourcing clean energy and launching the region s first hydrogen-based steelmaking pilot with Masdar. &...
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Emsteel Group one of the region s largest publicly traded steel and building materials manufacturers today announced the launch of TrueGreen a strategic sustainability identity that unifies its decades of decarbonisation initiatives. This new identity establishes industry standards for transparency and accountability in sustainable steel production. The launch follows a series of recent milestones including becoming the first company in Mena to earn ResponsibleSteel certification and launching the world s first pilot of electric process gas heaters in the steelmaking industry. These achievements build upon a long-standing history at the forefront of industrial decarbonisation from its pioneering CCUS Project with Adnoc s Al Reyadah sourcing clean energy and launching the region s first hydrogen-based steelmaking pilot with Masdar. &...
Demand continues to surpass deliveries in the Abu Dhabi real estate market with the sector experiencing the strongest ever half year performance in the first half of this year says a new report. The Abu Dhabi Real Estate Centre (ADREC) the custodian and regulator of Abu Dhabi s real estate sector has released its inaugural Real Estate Market Report marking a new chapter in strengthening transparency trust and data driven decision making in the sector. The in-depth report highlights the strongest ever half year performance of the sector driven by population growth foreign investment and a transition to premium grade developments. Record transactions growth Based on the findings in the report the total value of real estate transactions in the first half of this year reached a record AED54 billion ( 14.7 billion) in ...
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Demand continues to surpass deliveries in the Abu Dhabi real estate market with the sector experiencing the strongest ever half year performance in the first half of this year says a new report. The Abu Dhabi Real Estate Centre (ADREC) the custodian and regulator of Abu Dhabi s real estate sector has released its inaugural Real Estate Market Report marking a new chapter in strengthening transparency trust and data driven decision making in the sector. The in-depth report highlights the strongest ever half year performance of the sector driven by population growth foreign investment and a transition to premium grade developments. Record transactions growth Based on the findings in the report the total value of real estate transactions in the first half of this year reached a record AED54 billion ( 14.7 billion) in ...
OCI Global global investment platform focused on long-term value creation through disciplined capital allocation and Orascom Construction a leading global engineering and construction contractor have announced that they are pursuing a potential merger. The combination would establish a scalable infrastructure and investment platform anchored in Abu Dhabi with global reach. According to a statement the combination would offer the following benefits: Complementary Strengths: The combination will bring together Orascom Construction s world-class execution capabilities supported by a 14 billion backlog deep industry expertise in infrastructure and multi-decade delivery of complex projects and concessions primarily in the United States the GCC Egypt Europe and select emerging markets and OCI s institutional investment platform transactional expertise and pr...
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OCI Global global investment platform focused on long-term value creation through disciplined capital allocation and Orascom Construction a leading global engineering and construction contractor have announced that they are pursuing a potential merger. The combination would establish a scalable infrastructure and investment platform anchored in Abu Dhabi with global reach. According to a statement the combination would offer the following benefits: Complementary Strengths: The combination will bring together Orascom Construction s world-class execution capabilities supported by a 14 billion backlog deep industry expertise in infrastructure and multi-decade delivery of complex projects and concessions primarily in the United States the GCC Egypt Europe and select emerging markets and OCI s institutional investment platform transactional expertise and pr...
Ras Al Khaimah is set to take centre stage as the UAE reinforces its position as a magnet for global real estate investment with the inaugural International Real Estate Investment Summit (IREIS) scheduled for October 30 31 2025. The two-day event by Cityscape hosted at Al Hamra International Exhibition & Conference Centre in Ras Al Khaimah aims to provide an unprecedented platform to unlock high-value real estate opportunities by connecting investors developers and policymakers to offer insight into both regional growth and emerging global trends. Designed as a forum without borders the summit will spotlight the UAE s transformation and the wider evolution of global real estate markets from shifting capital flows in Europe and Asia to the rise of sustainable urban models in North America while also examining market trends investment strategies and innovations shaping the next era...
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Ras Al Khaimah is set to take centre stage as the UAE reinforces its position as a magnet for global real estate investment with the inaugural International Real Estate Investment Summit (IREIS) scheduled for October 30 31 2025. The two-day event by Cityscape hosted at Al Hamra International Exhibition & Conference Centre in Ras Al Khaimah aims to provide an unprecedented platform to unlock high-value real estate opportunities by connecting investors developers and policymakers to offer insight into both regional growth and emerging global trends. Designed as a forum without borders the summit will spotlight the UAE s transformation and the wider evolution of global real estate markets from shifting capital flows in Europe and Asia to the rise of sustainable urban models in North America while also examining market trends investment strategies and innovations shaping the next era...
Mulk International the international business arm of UAE-based Mulk Holdings International and Marses today launched Mulk Marses Robotics a ground-breaking joint venture poised to redefine the global construction sector. This new entity is set to accelerate the shift from the traditional labour-intensive construction methods to an technologically advanced automated manufacturing model unlocking exponential value through unprecedented gains in speed cost-efficiency quality and environmental sustainability. With an aggressive roadmap that includes new factories in the UAE Europe and the USA Mulk Marses Robotics is not just entering the market; it s building the future. It is transforming construction into a highly efficient high-tech and scalable industry ready to meet the demands of a rapidly changing world the company said. This joint ...
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Mulk International the international business arm of UAE-based Mulk Holdings International and Marses today launched Mulk Marses Robotics a ground-breaking joint venture poised to redefine the global construction sector. This new entity is set to accelerate the shift from the traditional labour-intensive construction methods to an technologically advanced automated manufacturing model unlocking exponential value through unprecedented gains in speed cost-efficiency quality and environmental sustainability. With an aggressive roadmap that includes new factories in the UAE Europe and the USA Mulk Marses Robotics is not just entering the market; it s building the future. It is transforming construction into a highly efficient high-tech and scalable industry ready to meet the demands of a rapidly changing world the company said. This joint ...
Dubai real estate investors have been warned not to rely on forecasts of price corrections based solely on new supply data and anchor their decisions on much broader key market signals. In recent months rating agencies Fitch and Moody s as well as other real estate specialists have pointed towards price corrections of around 15% by the end of this year or in early 2026. In response Firas Al Msaddi CEO of fäm Properties one of Dubai s biggest real estate agencies said today forecasts based on the number of new units scheduled for delivery can be misleading without consideration of these key factors: Rising sales activity despite supply Resilient investor demand thanks to attractive yields Strong migration and population gr...
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Dubai real estate investors have been warned not to rely on forecasts of price corrections based solely on new supply data and anchor their decisions on much broader key market signals. In recent months rating agencies Fitch and Moody s as well as other real estate specialists have pointed towards price corrections of around 15% by the end of this year or in early 2026. In response Firas Al Msaddi CEO of fäm Properties one of Dubai s biggest real estate agencies said today forecasts based on the number of new units scheduled for delivery can be misleading without consideration of these key factors: Rising sales activity despite supply Resilient investor demand thanks to attractive yields Strong migration and population gr...
Ambitious government initiatives are fuelling robust expansion in the UAE s construction industry with output projected to grow to 130.8 billion by 2029 according to the 2025 UAE Construction Landscape Review from global property consultancy Knight Frank. The total value of construction output across the Emirates has been increasing steadily since the start of the decade. After construction output reached a record 107.2 billion in 2024 the latest forecasts show this solid growth trajectory continuing every year through to 2029 growing by 4% per annum. Construction dominates planned development across the UAE accounting for 62% of future pipeline projects ahead of transport (12%) power (7%) and water (5%). Within this construction pipeline mixed-use projects account for 42% followed by residential real estate (28%) data centres (9%) and hospitality projects (4%). st...
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Ambitious government initiatives are fuelling robust expansion in the UAE s construction industry with output projected to grow to 130.8 billion by 2029 according to the 2025 UAE Construction Landscape Review from global property consultancy Knight Frank. The total value of construction output across the Emirates has been increasing steadily since the start of the decade. After construction output reached a record 107.2 billion in 2024 the latest forecasts show this solid growth trajectory continuing every year through to 2029 growing by 4% per annum. Construction dominates planned development across the UAE accounting for 62% of future pipeline projects ahead of transport (12%) power (7%) and water (5%). Within this construction pipeline mixed-use projects account for 42% followed by residential real estate (28%) data centres (9%) and hospitality projects (4%). st...
Despite challenges such as labour shortages rising material costs and long procurement lead times Saudi Arabia s construction sector is showing resilience and initiatives to localise supply chains upskill the workforce and encourage modern methods of construction are helping to build long-term capacity a report said. Saudi Arabia s construction sector is accelerating rapidly underpinned by giga-project investments economic diversification and the national ambition of Vision 2030 according to global professional services company Turner & Townsend. The firm s KSA Market Intelligence 2025 report analyses how the Kingdom is capitalising on a 1.7 trillion pipeline of real estate infrastructure and industrial developments while navigating associated delivery pressures and capacity constraints. Investing digital tools Digital delivery is also gaining...
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Despite challenges such as labour shortages rising material costs and long procurement lead times Saudi Arabia s construction sector is showing resilience and initiatives to localise supply chains upskill the workforce and encourage modern methods of construction are helping to build long-term capacity a report said. Saudi Arabia s construction sector is accelerating rapidly underpinned by giga-project investments economic diversification and the national ambition of Vision 2030 according to global professional services company Turner & Townsend. The firm s KSA Market Intelligence 2025 report analyses how the Kingdom is capitalising on a 1.7 trillion pipeline of real estate infrastructure and industrial developments while navigating associated delivery pressures and capacity constraints. Investing digital tools Digital delivery is also gaining...
Empire Energy and Kuehne Nagel have announced a partnership to deliver offshore wind projects. The partnership combines Empire Energy s offshore wind project delivery expertise with Kuehne Nagel s global logistics expertise offering an integrated solution that reduces complexity and risk while driving efficiency at every stage of the offshore wind lifecycle. The partnership aims to set a high standard for customers and the industry combining technical know-how scale and foresight to meet the unprecedented demand for offshore wind. Mike Milledge President of Empire Energy said: This partnership with Kuehne Nagel is about more than logistics and delivery it is about leadership. Offshore wind OEMs and developers want confidence that their most complex projects will be executed with certainty and vision. By uniting our offshore wind expertise with Kuehne Nagel&rsq...
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Empire Energy and Kuehne Nagel have announced a partnership to deliver offshore wind projects. The partnership combines Empire Energy s offshore wind project delivery expertise with Kuehne Nagel s global logistics expertise offering an integrated solution that reduces complexity and risk while driving efficiency at every stage of the offshore wind lifecycle. The partnership aims to set a high standard for customers and the industry combining technical know-how scale and foresight to meet the unprecedented demand for offshore wind. Mike Milledge President of Empire Energy said: This partnership with Kuehne Nagel is about more than logistics and delivery it is about leadership. Offshore wind OEMs and developers want confidence that their most complex projects will be executed with certainty and vision. By uniting our offshore wind expertise with Kuehne Nagel&rsq...
QatarEnergy signed an agreement with Samsung C&T s Engineering & Construction Group (Samsung C&T) for the construction of a world-scale solar power plant in Dukhan about 80 kilometers west of Doha. The Dukhan solar power plant one of the largest in the world will be developed in two phases reaching a total electricity generation capacity of 2 000 megawatts (MW) by mid-2029. Once completed it will double Qatar s solar power production capacity contributing significantly to the country s renewable energy goals. The agreement was signed by Saad Al-Kaabi the Minister of State for Energy Affairs the President and CEO of QatarEnergy and Sechul Oh the President & CEO of Samsung C&T during a special ceremony held at QatarEnergy s Headquarters in Doha. The event was attended by Abdulla Al-Theyab the Presid...
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QatarEnergy signed an agreement with Samsung C&T s Engineering & Construction Group (Samsung C&T) for the construction of a world-scale solar power plant in Dukhan about 80 kilometers west of Doha. The Dukhan solar power plant one of the largest in the world will be developed in two phases reaching a total electricity generation capacity of 2 000 megawatts (MW) by mid-2029. Once completed it will double Qatar s solar power production capacity contributing significantly to the country s renewable energy goals. The agreement was signed by Saad Al-Kaabi the Minister of State for Energy Affairs the President and CEO of QatarEnergy and Sechul Oh the President & CEO of Samsung C&T during a special ceremony held at QatarEnergy s Headquarters in Doha. The event was attended by Abdulla Al-Theyab the Presid...
The real estate and rental activities sector contributed 7.4 percent to GDP with value added reaching QR13.44 billion in the first quarter (Q1) of this year according to the Real Estate Regulatory Authority Aqarat. The sector registered a growth of 7 percent compared to the same quarter in last year said the authority in a X post a report in Peninsula newspaper said. Moreover the value of real estate activities in the first quarter of this year has grown by 20 percent since the first quarter of 2022. This is clear testament of the national efforts to attracting investments into the sector as part of the national diversification strategy. In a previous post it noted that Al Rayyan is the most prominent investment destination in first half of 2025 compared to the same period in the previous year. It also highlighted the record numbers in Al Gharrafa and increased ac...
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The real estate and rental activities sector contributed 7.4 percent to GDP with value added reaching QR13.44 billion in the first quarter (Q1) of this year according to the Real Estate Regulatory Authority Aqarat. The sector registered a growth of 7 percent compared to the same quarter in last year said the authority in a X post a report in Peninsula newspaper said. Moreover the value of real estate activities in the first quarter of this year has grown by 20 percent since the first quarter of 2022. This is clear testament of the national efforts to attracting investments into the sector as part of the national diversification strategy. In a previous post it noted that Al Rayyan is the most prominent investment destination in first half of 2025 compared to the same period in the previous year. It also highlighted the record numbers in Al Gharrafa and increased ac...
Qatar Free Zones Authority (QFZ) and FedEx Logistics a subsidiary of FedEx Corporation have officially opened a new regional logistics facility at Ras Bufontas Free Zone marking a significant step in Qatar s emergence as a leading hub for global trade and supply chain operations. The inauguration was attended by Sheikh Mohammed Bin Hamad Bin Faisal Al-Thani CEO of QFZ and Patrick Moebel President of FedEx Logistics alongside senior executives from both parties. The opening of the centre comes within the framework of the existing partnership between QFZ and FedEx Logistics and based on the agreement signed between them in 2024. Operated by FedEx Logistics Qatar QFZ the 1 249 sq m facility features integrated warehousing storage and office spaces. Plugged into the FedEx global network it will serve as a key gateway for freight forwarding and scheduling facilitating ...
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Qatar Free Zones Authority (QFZ) and FedEx Logistics a subsidiary of FedEx Corporation have officially opened a new regional logistics facility at Ras Bufontas Free Zone marking a significant step in Qatar s emergence as a leading hub for global trade and supply chain operations. The inauguration was attended by Sheikh Mohammed Bin Hamad Bin Faisal Al-Thani CEO of QFZ and Patrick Moebel President of FedEx Logistics alongside senior executives from both parties. The opening of the centre comes within the framework of the existing partnership between QFZ and FedEx Logistics and based on the agreement signed between them in 2024. Operated by FedEx Logistics Qatar QFZ the 1 249 sq m facility features integrated warehousing storage and office spaces. Plugged into the FedEx global network it will serve as a key gateway for freight forwarding and scheduling facilitating ...
Kuwait s Al Hamra Real Estate Company will hold the second edition of the Al Hamra Career Fair on September 17 and 18 connecting leading employers across the private and public sectors seasoned professionals and fresh graduates. The event will be held at the Al Hamra Shopping Center in collaboration with Zone the organiser of Watheefti Career Fair. Building on the success of its inaugural edition this annual platform reflects Al Hamra s role as a thriving business hub while creating meaningful opportunities for career development and professional networking. The fair comes as part of Al Hamra s development strategy reaffirming its role as a pioneer in supporting the community and national economy by empowering talent and fostering sustainable growth said a statement. The inaugural edition of the Al Hamra Career Fair welcomed more than 7 000 visitors...
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Kuwait s Al Hamra Real Estate Company will hold the second edition of the Al Hamra Career Fair on September 17 and 18 connecting leading employers across the private and public sectors seasoned professionals and fresh graduates. The event will be held at the Al Hamra Shopping Center in collaboration with Zone the organiser of Watheefti Career Fair. Building on the success of its inaugural edition this annual platform reflects Al Hamra s role as a thriving business hub while creating meaningful opportunities for career development and professional networking. The fair comes as part of Al Hamra s development strategy reaffirming its role as a pioneer in supporting the community and national economy by empowering talent and fostering sustainable growth said a statement. The inaugural edition of the Al Hamra Career Fair welcomed more than 7 000 visitors...
The real estate market in Abu Dhabi is growing at an exponential rate with demand outgrowing supplies fast a top official told delegates at the International Real Estate Conference part of the International Real Estate Investment Show (IREIS) 2025 that is taking place at the Abu Dhabi National Exhibition Centre (ADNEC). The economic diversification is creating new jobs and opportunities in Abu Dhabi where the demand for quality residential units is way much higher than the pace of supply and developers need to invest in new homes Amer Al Ahbabi Chairman of Capstone Real Estate said. The higher demand is pushing the prices up that makes investment in real estate very profitable with premium growing fast. Properties are sold out at launch events as more and more investors are coming to Abu Dhabi to enjoy living in one of the safest places in the wor...
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The real estate market in Abu Dhabi is growing at an exponential rate with demand outgrowing supplies fast a top official told delegates at the International Real Estate Conference part of the International Real Estate Investment Show (IREIS) 2025 that is taking place at the Abu Dhabi National Exhibition Centre (ADNEC). The economic diversification is creating new jobs and opportunities in Abu Dhabi where the demand for quality residential units is way much higher than the pace of supply and developers need to invest in new homes Amer Al Ahbabi Chairman of Capstone Real Estate said. The higher demand is pushing the prices up that makes investment in real estate very profitable with premium growing fast. Properties are sold out at launch events as more and more investors are coming to Abu Dhabi to enjoy living in one of the safest places in the wor...
Saudi Arabia s bold measures to stabilise the real estate market including the amendment of the Idle Land Tax law providing subsidised land plots in Riyadh are expected to increase supply and price normalisation says an Alrajhi Capital research. The year 2025 so far has been an eventful year for the Saudi Arabia s real estate market. It all started with directives issued by the government late March setting up the stage for reforms within the sector. These directives include an increase in the supply of land in the North Riyadh (restricted 81.48 sq km) and to provide 10 000-40 000 land plots to Saudi nationals every year with a capped price of SAR1 500/sq m (RCRC launched a platform to accept applications on September 11 2025). Later in July the cabinet approved the foreign ownership law allowing non-Saudi nationals to own the propert...
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Saudi Arabia s bold measures to stabilise the real estate market including the amendment of the Idle Land Tax law providing subsidised land plots in Riyadh are expected to increase supply and price normalisation says an Alrajhi Capital research. The year 2025 so far has been an eventful year for the Saudi Arabia s real estate market. It all started with directives issued by the government late March setting up the stage for reforms within the sector. These directives include an increase in the supply of land in the North Riyadh (restricted 81.48 sq km) and to provide 10 000-40 000 land plots to Saudi nationals every year with a capped price of SAR1 500/sq m (RCRC launched a platform to accept applications on September 11 2025). Later in July the cabinet approved the foreign ownership law allowing non-Saudi nationals to own the propert...
Rasmal Ventures a Qatar-based leading venture capital fund with backing from the Qatar Investment Authority (QIA) has announced its investment in NEXX a Hong Kong and Qatar-based AI-driven logistics technology company. The announcement was made during the 10th Belt & Road Summit held in Hong Kong from September 10 11. The investment marks a strategic milestone for Rasmal Ventures the first Qatar-headquartered VC fund and reflects its mission to bring transformative global innovation into Qatar. As Rasmal Venture s first commitment to a Hong Kong tech startup the partnership highlights Qatar s emergence as a hub for cutting-edge technologies and high-growth ventures. It also aligns with Rasmal Venture s broader ambition to position Qatar as a platform for meaningful collaboration between Asia and the Middle East; anchoring innovation within the country while connecting it t...
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Rasmal Ventures a Qatar-based leading venture capital fund with backing from the Qatar Investment Authority (QIA) has announced its investment in NEXX a Hong Kong and Qatar-based AI-driven logistics technology company. The announcement was made during the 10th Belt & Road Summit held in Hong Kong from September 10 11. The investment marks a strategic milestone for Rasmal Ventures the first Qatar-headquartered VC fund and reflects its mission to bring transformative global innovation into Qatar. As Rasmal Venture s first commitment to a Hong Kong tech startup the partnership highlights Qatar s emergence as a hub for cutting-edge technologies and high-growth ventures. It also aligns with Rasmal Venture s broader ambition to position Qatar as a platform for meaningful collaboration between Asia and the Middle East; anchoring innovation within the country while connecting it t...
Ras Al Khaimah s real estate market is witnessing a sustained growth in demand for residential properties with the emirate experiencing strong economic fundamentals and a solid fiscal position says a report. S&P Global is forecasting a 4.2% annual GDP growth through 2027 for Ras Al Khaimah. Inflation remains stable with a slight annual increase in the Consumer Price Index (CPI). Crucially FDI is also now gaining momentum with AED700 million attracted across six key projects in the first half of the year alone including a major adhesives facility by HB Fuller said CBRE Middle East a global leader in commercial real estate services in a research paper. RAKEZ the Ras Al Khaimah Economic Zone saw strong growth in H1 2025 adding 8 506 new companies a 43% year-on-year increase and was named the Fastest-Growing Economic Zone in the UAE in March 2025. RAK'...
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Ras Al Khaimah s real estate market is witnessing a sustained growth in demand for residential properties with the emirate experiencing strong economic fundamentals and a solid fiscal position says a report. S&P Global is forecasting a 4.2% annual GDP growth through 2027 for Ras Al Khaimah. Inflation remains stable with a slight annual increase in the Consumer Price Index (CPI). Crucially FDI is also now gaining momentum with AED700 million attracted across six key projects in the first half of the year alone including a major adhesives facility by HB Fuller said CBRE Middle East a global leader in commercial real estate services in a research paper. RAKEZ the Ras Al Khaimah Economic Zone saw strong growth in H1 2025 adding 8 506 new companies a 43% year-on-year increase and was named the Fastest-Growing Economic Zone in the UAE in March 2025. RAK'...
pX the region s first AI-powered platform that aims to transform real estate decision-making in the region by bringing institutional-grade infrastructure was launched today in Dubai. Built to meet the growing demand for speed clarity and tailored insight pX moves beyond static dashboards to deliver actionable insights and decision-ready storylines the company said. The launch comes with the announcement of an exclusive partnership with REalyse the UK s leading real estate intelligence provider. Under the agreement pX becomes the sole platform in the GCC with access to REalyse s proprietary decision-making technology which currently powers institutions like CBRE Invesco and several branches of the UK government. Since quietly going live in August 2024 pX has been working behind the scenes to localise and deploy this technology to reflect the region&rsq...
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pX the region s first AI-powered platform that aims to transform real estate decision-making in the region by bringing institutional-grade infrastructure was launched today in Dubai. Built to meet the growing demand for speed clarity and tailored insight pX moves beyond static dashboards to deliver actionable insights and decision-ready storylines the company said. The launch comes with the announcement of an exclusive partnership with REalyse the UK s leading real estate intelligence provider. Under the agreement pX becomes the sole platform in the GCC with access to REalyse s proprietary decision-making technology which currently powers institutions like CBRE Invesco and several branches of the UK government. Since quietly going live in August 2024 pX has been working behind the scenes to localise and deploy this technology to reflect the region&rsq...
Infracorp a leading developer and manager of social and sustainable infrastructure has signed a strategic agreement with Abr Al Mutawassit Contracting Co one of the region s most esteemed construction firms to execute the third phase of its ambitious residential project California Residences located in the heart of Dubai. The agreement was signed by Majed Al Khan Chief Executive Officer and Board Member of Infracorp and Wael Al Sahawneh Chief Financial Officer of Abr Al Mutawassit Contracting marking a new milestone in the development of this project. The third phase of California Village will include the development of 370 luxury residential units designed in line with the latest quality standards and contemporary designs that meet the needs of modern families. The third phase of the project known as California Residences is an extension of the remarkable success...
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Infracorp a leading developer and manager of social and sustainable infrastructure has signed a strategic agreement with Abr Al Mutawassit Contracting Co one of the region s most esteemed construction firms to execute the third phase of its ambitious residential project California Residences located in the heart of Dubai. The agreement was signed by Majed Al Khan Chief Executive Officer and Board Member of Infracorp and Wael Al Sahawneh Chief Financial Officer of Abr Al Mutawassit Contracting marking a new milestone in the development of this project. The third phase of California Village will include the development of 370 luxury residential units designed in line with the latest quality standards and contemporary designs that meet the needs of modern families. The third phase of the project known as California Residences is an extension of the remarkable success...
GFH Partners Manrre REIT (CEIC) managed by GFH Partners together with its development manager Palmon Group on Wednesday marked the start of construction of a new state-of-the-art logistics facility in North Jafza. The groundbreaking ceremony was attended by Abdulla Bin Damithan CEO & Managing Director of DP World GCC alongside senior officials and dignitaries underscoring the project s strategic importance to Dubai s logistics and industrial landscape. The development is set on a 214 000 sq ft plot and will introduce one of the UAE s first high-bay temperature-controlled warehouses establishing a new benchmark for Grade A logistics assets in the region. Built to international specifications the facility is designed for efficiency scalability and tenant convenience directly addressing the rising demand for premium logistics space across high-growth sectors said the company. ...
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GFH Partners Manrre REIT (CEIC) managed by GFH Partners together with its development manager Palmon Group on Wednesday marked the start of construction of a new state-of-the-art logistics facility in North Jafza. The groundbreaking ceremony was attended by Abdulla Bin Damithan CEO & Managing Director of DP World GCC alongside senior officials and dignitaries underscoring the project s strategic importance to Dubai s logistics and industrial landscape. The development is set on a 214 000 sq ft plot and will introduce one of the UAE s first high-bay temperature-controlled warehouses establishing a new benchmark for Grade A logistics assets in the region. Built to international specifications the facility is designed for efficiency scalability and tenant convenience directly addressing the rising demand for premium logistics space across high-growth sectors said the company. ...
Bahrain registered a total of 13 452 real estate transactions in H1 2025 marking a 16.4% increase as compared to H1 2024 said a report. Transaction values increased by 3.9% in the first quarter of 2025 compared to the same period in 2024 amounting to a total of BHD775.2 million ( 2056.34 million) said CBRE s Bahrain Real Estate Market Review H1 2025. Average actual apartment sale rates experienced a decrease of 2% in H1 2025 compared to H2 2024 and villa sales rates also fell by 2.3% following a period of marginal increases. While quoted apartment rents saw a marginal increase of 1.0% for the first time following a period of consistent declines the trend of marginal yet consistent decline continued for villas with average quoted rated falling by 1.0%. Average occupancy across CBRE s set of 21 tracked retail centres (Super Regional to Regional Category) decreas...
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Bahrain registered a total of 13 452 real estate transactions in H1 2025 marking a 16.4% increase as compared to H1 2024 said a report. Transaction values increased by 3.9% in the first quarter of 2025 compared to the same period in 2024 amounting to a total of BHD775.2 million ( 2056.34 million) said CBRE s Bahrain Real Estate Market Review H1 2025. Average actual apartment sale rates experienced a decrease of 2% in H1 2025 compared to H2 2024 and villa sales rates also fell by 2.3% following a period of marginal increases. While quoted apartment rents saw a marginal increase of 1.0% for the first time following a period of consistent declines the trend of marginal yet consistent decline continued for villas with average quoted rated falling by 1.0%. Average occupancy across CBRE s set of 21 tracked retail centres (Super Regional to Regional Category) decreas...
UAE-based Al Futtaim Contracting has announced that it has signed an exclusive partnership deal with global vertical transportation giant Hyundai Elevator to deliver next-generation elevator and escalator technologies to the Kingdom of Saudi Arabia. Under the terms of the exclusive dealership Al-Futtaim Contracting will serve as the sole distributor for the supply installation and maintenance of its full suite of vertical transportation (VT) solutions in Saudi Arabia said the company in a statement. This will encompass all VT products including machine-room-less (MRL) elevators escalators moving walks high-speed and ultra-high-speed elevators supporting the Kingdom s ambitious urban and infrastructure initiatives. Al-Futtaim Contracting a fully integrated end-to-end specialist division of Al Futtaim Real Estate operating across the UAE Saudi Arabia Qatar and Egy...
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UAE-based Al Futtaim Contracting has announced that it has signed an exclusive partnership deal with global vertical transportation giant Hyundai Elevator to deliver next-generation elevator and escalator technologies to the Kingdom of Saudi Arabia. Under the terms of the exclusive dealership Al-Futtaim Contracting will serve as the sole distributor for the supply installation and maintenance of its full suite of vertical transportation (VT) solutions in Saudi Arabia said the company in a statement. This will encompass all VT products including machine-room-less (MRL) elevators escalators moving walks high-speed and ultra-high-speed elevators supporting the Kingdom s ambitious urban and infrastructure initiatives. Al-Futtaim Contracting a fully integrated end-to-end specialist division of Al Futtaim Real Estate operating across the UAE Saudi Arabia Qatar and Egy...
SustainInsight an AI-powered platform designed to help construction companies track analyse and report their full sustainability performance has launched in the UAE with an AI-powered platform that gives construction and real estate firms a comprehensive real-time view of their sustainability performance far beyond carbon accounting. Its launch comes at a critical time as new climate regulations and stricter ESG disclosure requirements increase pressure on companies to demonstrate verifiable credentials. SustainInsight recently conducted a successful pilot scheme with the UAE Ministry of Energy and Infrastructure in Ajman and is already supporting major entities including Damac Properties and Expo City Dubai in their sustainability journey. Branded as the Bloomberg of sustainability SustainInsight acts as a sustainability intelligence hub by consolidating a...
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SustainInsight an AI-powered platform designed to help construction companies track analyse and report their full sustainability performance has launched in the UAE with an AI-powered platform that gives construction and real estate firms a comprehensive real-time view of their sustainability performance far beyond carbon accounting. Its launch comes at a critical time as new climate regulations and stricter ESG disclosure requirements increase pressure on companies to demonstrate verifiable credentials. SustainInsight recently conducted a successful pilot scheme with the UAE Ministry of Energy and Infrastructure in Ajman and is already supporting major entities including Damac Properties and Expo City Dubai in their sustainability journey. Branded as the Bloomberg of sustainability SustainInsight acts as a sustainability intelligence hub by consolidating a...
SICO Capital a leading provider of asset management brokerage and investment banking services in Riyadh and licensed by the Saudi Capital Market Authority has appointed Maan AlDerazi as its new Head of Real Estate Investments. AlDerazi brings over 20 years of extensive industry experience to the role having concluded several billion dollars in cross-border commercial real estate investments and having held positions at prominent firms such as Meraas Holding and Istithmar. We are delighted to welcome Maan to the SICO Capital team said Wissam Haddad CEO of SICO Capital. His deep knowledge of the real estate sector and proven track record will be invaluable as we continue to expand our offerings and deliver exceptional value to our clients. Maan AlDerazi said: I am honoured to join SICO Capital a firm distinguished for its strong track record...
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SICO Capital a leading provider of asset management brokerage and investment banking services in Riyadh and licensed by the Saudi Capital Market Authority has appointed Maan AlDerazi as its new Head of Real Estate Investments. AlDerazi brings over 20 years of extensive industry experience to the role having concluded several billion dollars in cross-border commercial real estate investments and having held positions at prominent firms such as Meraas Holding and Istithmar. We are delighted to welcome Maan to the SICO Capital team said Wissam Haddad CEO of SICO Capital. His deep knowledge of the real estate sector and proven track record will be invaluable as we continue to expand our offerings and deliver exceptional value to our clients. Maan AlDerazi said: I am honoured to join SICO Capital a firm distinguished for its strong track record...
The UAE real estate witnessed sustained market growth owing to strong demand and proactive government initiatives said leading industry expert Colliers. The Abu Dhabi market is well-positioned for continued growth with increased developer activity while Dubai is experiencing unprecedented growth with multiple developments in progress stated Colliers in its Q2 2025 real estate report which provides key insights into market activity supply demand and price movements across Abu Dhabi Dubai Al Ain and Northern Emirates. On Abu Dhabi residential and office market Colliers said the emirate s real estate market is demonstrating its most robust performance since 2009. In Q2 2025 approximately 3 250 residential units were delivered with nearly 2 150 additional residential units anticipated to be handed over by year-end primarily in Investment Zones such as Yas Island Masdar City Saadiyat Island and...
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The UAE real estate witnessed sustained market growth owing to strong demand and proactive government initiatives said leading industry expert Colliers. The Abu Dhabi market is well-positioned for continued growth with increased developer activity while Dubai is experiencing unprecedented growth with multiple developments in progress stated Colliers in its Q2 2025 real estate report which provides key insights into market activity supply demand and price movements across Abu Dhabi Dubai Al Ain and Northern Emirates. On Abu Dhabi residential and office market Colliers said the emirate s real estate market is demonstrating its most robust performance since 2009. In Q2 2025 approximately 3 250 residential units were delivered with nearly 2 150 additional residential units anticipated to be handed over by year-end primarily in Investment Zones such as Yas Island Masdar City Saadiyat Island and...
7X a trade transport and logistics holding group has launched its new national network for logistics (NXN) coinciding with the 28th Universal Postal Congress Dubai 2025. The event is being hosted by the UAE and organised by 7X in collaboration with the Universal Postal Union (UPU). NXN will serve as a new benchmark in the postal parcel and logistics services bringing together local and international service providers to offer their services through the NXN network. Built on a hybrid physical-digital infrastructure the NXN provides individuals businesses and the eCommerce sector with a seamless unified experience for sending receiving storing parcels and fulfilling shipments. NXN s launch is in line with 7X s strategic vision to create digital solutions that empower the business community and reinforce the UAE s position as a global hub for trad...
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7X a trade transport and logistics holding group has launched its new national network for logistics (NXN) coinciding with the 28th Universal Postal Congress Dubai 2025. The event is being hosted by the UAE and organised by 7X in collaboration with the Universal Postal Union (UPU). NXN will serve as a new benchmark in the postal parcel and logistics services bringing together local and international service providers to offer their services through the NXN network. Built on a hybrid physical-digital infrastructure the NXN provides individuals businesses and the eCommerce sector with a seamless unified experience for sending receiving storing parcels and fulfilling shipments. NXN s launch is in line with 7X s strategic vision to create digital solutions that empower the business community and reinforce the UAE s position as a global hub for trad...
7X the trade transport and logistics holding group today (September 7) officially launched its new national network for logistics (NXN) coinciding with the 28th Universal Postal Congress Dubai 2025 which is being hosted by the UAE and organised by 7X in collaboration with the Universal Postal Union (UPU). NXN will serve as a new benchmark in the postal parcel and logistics services bringing together local and international service providers to offer their services through the NXN network. Built on a hybrid physical-digital infrastructure the NXN provides individuals businesses and the eCommerce sector with a seamless unified experience for sending receiving storing parcels and fulfilling shipments. NXN s launch is in line with 7X s strategic vision to create digital solutions that empower the business community and reinforce the UA...
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7X the trade transport and logistics holding group today (September 7) officially launched its new national network for logistics (NXN) coinciding with the 28th Universal Postal Congress Dubai 2025 which is being hosted by the UAE and organised by 7X in collaboration with the Universal Postal Union (UPU). NXN will serve as a new benchmark in the postal parcel and logistics services bringing together local and international service providers to offer their services through the NXN network. Built on a hybrid physical-digital infrastructure the NXN provides individuals businesses and the eCommerce sector with a seamless unified experience for sending receiving storing parcels and fulfilling shipments. NXN s launch is in line with 7X s strategic vision to create digital solutions that empower the business community and reinforce the UA...
DP World has entered into a strategic partnership with Atlantis Dubai Resorts to manage the logistics operations that power two of the UAE s most iconic luxury destinations: Atlantis The Palm and Atlantis The Royal. Under the agreement DP World will oversee daily on-demand deliveries of perishables dry goods and speciality items managing nearly 7 000 pallets through its advanced logistics network. The tailored solution includes temperature-controlled facilities cutting-edge inventory management and real-time cargo tracking ensuring end-to-end visibility and reliability across the supply chain. The partnership addresses the highly dynamic needs of Atlantis Dubai which operates a vast and multi-layered supply chain encompassing over 60 000 unique products sourced from nearly 70 countries said DP World in a statement. From g...
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DP World has entered into a strategic partnership with Atlantis Dubai Resorts to manage the logistics operations that power two of the UAE s most iconic luxury destinations: Atlantis The Palm and Atlantis The Royal. Under the agreement DP World will oversee daily on-demand deliveries of perishables dry goods and speciality items managing nearly 7 000 pallets through its advanced logistics network. The tailored solution includes temperature-controlled facilities cutting-edge inventory management and real-time cargo tracking ensuring end-to-end visibility and reliability across the supply chain. The partnership addresses the highly dynamic needs of Atlantis Dubai which operates a vast and multi-layered supply chain encompassing over 60 000 unique products sourced from nearly 70 countries said DP World in a statement. From g...
Adnoc Logistics and Services plc (Adnoc L&S / the Company) a global energy maritime logistics company today announced the successful completion of a 317 million institutional placement of approximately 222 million shares representing 3% of its total share capital by Adnoc Group. The placement was approximately seven times oversubscribed one of the highest levels recorded for a regional secondary offering underscoring strong investor confidence in Adnoc L&S s strategic direction financial resilience and long-term growth outlook. The transaction increases Adnoc L&S s free float from 19% to 22% significantly enhancing liquidity broadening access to a wider institutional investor base and reinforcing the Company s visibility on the Abu Dhabi Securities Exchange (ADX). The expanded shareholder base positions Adnoc L&S for potential inclusion...
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Adnoc Logistics and Services plc (Adnoc L&S / the Company) a global energy maritime logistics company today announced the successful completion of a 317 million institutional placement of approximately 222 million shares representing 3% of its total share capital by Adnoc Group. The placement was approximately seven times oversubscribed one of the highest levels recorded for a regional secondary offering underscoring strong investor confidence in Adnoc L&S s strategic direction financial resilience and long-term growth outlook. The transaction increases Adnoc L&S s free float from 19% to 22% significantly enhancing liquidity broadening access to a wider institutional investor base and reinforcing the Company s visibility on the Abu Dhabi Securities Exchange (ADX). The expanded shareholder base positions Adnoc L&S for potential inclusion...
Leading global investors developers policymakers and thought leaders will be in capital Doha this October to take part in Cityscape Qatar 2025 a major real estate industry event in the region. To be held from October 14 to 16 at the Doha Exhibition & Convention Center the event will be co-located with INDEX and Big 5 cementing the exhibition as the ultimate one-stop destination for real estate construction and design professionals said organisers Informa Tharawat. The combined event will span over 15 000 sq m and feature more than 70 exhibitors across residential commercial industrial hospitality and logistics sectors. Leading developers on display include Diamond Sponsor Qetaifan Projects Qatari Diar Barwa Real Estate Tameer and UDC. Under the strategic theme Shaping the Future of Real Estate this year&...
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Leading global investors developers policymakers and thought leaders will be in capital Doha this October to take part in Cityscape Qatar 2025 a major real estate industry event in the region. To be held from October 14 to 16 at the Doha Exhibition & Convention Center the event will be co-located with INDEX and Big 5 cementing the exhibition as the ultimate one-stop destination for real estate construction and design professionals said organisers Informa Tharawat. The combined event will span over 15 000 sq m and feature more than 70 exhibitors across residential commercial industrial hospitality and logistics sectors. Leading developers on display include Diamond Sponsor Qetaifan Projects Qatari Diar Barwa Real Estate Tameer and UDC. Under the strategic theme Shaping the Future of Real Estate this year&...
Toll Group a global logistics leader and the majority owner of the CWT-SML Logistics has broken ground on the company s 25 000-sq-m distribution centre at Dubai South the largest single-urban master development focusing on aviation logistics and real estate. Located within the Logistics District at Dubai South the key facility will feature a warehouse mezzanine and offices with capacity for 30 644 pallets said the statement from Toll Group. It will also house a general palletised cargo area with four separate chambers that can be customised to meet customer requirements prior to the warehouse s full setup. In addition the facility will include temperature-controlled chambers with VNA racking and is being constructed to meet LEED Silver Certification standards reflecting sustainable practices in both process and materials said the statement. ...
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Toll Group a global logistics leader and the majority owner of the CWT-SML Logistics has broken ground on the company s 25 000-sq-m distribution centre at Dubai South the largest single-urban master development focusing on aviation logistics and real estate. Located within the Logistics District at Dubai South the key facility will feature a warehouse mezzanine and offices with capacity for 30 644 pallets said the statement from Toll Group. It will also house a general palletised cargo area with four separate chambers that can be customised to meet customer requirements prior to the warehouse s full setup. In addition the facility will include temperature-controlled chambers with VNA racking and is being constructed to meet LEED Silver Certification standards reflecting sustainable practices in both process and materials said the statement. ...
Riyad Capital the leading Saudi IB Advisor and a leading asset manager within Saudi Arabia and the GCC region has announced the successful issuance of a SAR500 million ( 133 million) Saudi Riyal denominated sukuk for Sumou Global Investment Company a first of its kind for the Saudi Real Estate sector. Sumou priced SAR 500 million in senior secured Sukuk with a 3-year maturity and a coupon of 8.50% payable on a quarterly basis. This landmark transaction marks the company s debut into the debt capital markets a strategic move towards diversifying its funding sources and securing capital for long-term growth. The transaction was notably upsized from an initial issue size of SAR 300 million due to significant demand with initial subscription multiples of almost two times the offer size from both retail and institutional investors. This robust demand represents a clear endorsement of Sumou s credit story...
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Riyad Capital the leading Saudi IB Advisor and a leading asset manager within Saudi Arabia and the GCC region has announced the successful issuance of a SAR500 million ( 133 million) Saudi Riyal denominated sukuk for Sumou Global Investment Company a first of its kind for the Saudi Real Estate sector. Sumou priced SAR 500 million in senior secured Sukuk with a 3-year maturity and a coupon of 8.50% payable on a quarterly basis. This landmark transaction marks the company s debut into the debt capital markets a strategic move towards diversifying its funding sources and securing capital for long-term growth. The transaction was notably upsized from an initial issue size of SAR 300 million due to significant demand with initial subscription multiples of almost two times the offer size from both retail and institutional investors. This robust demand represents a clear endorsement of Sumou s credit story...
Emsteel one of the largest publicly traded steel and building materials manufacturers in the region has delivered hydrogen-based rebar for the construction of Abu Dhabi s first net-zero carbon mosque in Sustainable City Yas Island. This marks a regional first as Aldar becomes the inaugural developer in the MENA region to use low-emissions hydrogen-based steel. The rebar produced using hydrogen from Emsteel s ground-breaking green hydrogen pilot project developed in partnership with Masdar last year plays a critical role in enabling the mosque to achieve LEED Zero Carbon certification - a pioneering milestone in sustainable architecture for the capital. Engineer Saeed Ghumran Al Remeithi Group Chief Executive Officer Emsteel said: This landmark delivery reinforces Emsteel s commitment to driving industrial sustainability and accel...
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Emsteel one of the largest publicly traded steel and building materials manufacturers in the region has delivered hydrogen-based rebar for the construction of Abu Dhabi s first net-zero carbon mosque in Sustainable City Yas Island. This marks a regional first as Aldar becomes the inaugural developer in the MENA region to use low-emissions hydrogen-based steel. The rebar produced using hydrogen from Emsteel s ground-breaking green hydrogen pilot project developed in partnership with Masdar last year plays a critical role in enabling the mosque to achieve LEED Zero Carbon certification - a pioneering milestone in sustainable architecture for the capital. Engineer Saeed Ghumran Al Remeithi Group Chief Executive Officer Emsteel said: This landmark delivery reinforces Emsteel s commitment to driving industrial sustainability and accel...
Kuwait s recent landmark reforms in its real estate sector - especially with regard to industrial projects where foreign investors have been permitted to obtain up to 100% ownership - is likely to drive the property prices to a new high reported Arab Times citing an industry expert. The government which controls over 90% of the country s land has historically restricted foreign investment to protect local ownership. However new measures now allow investors to acquire land more easily through corporate investment funds and portfolios with provisions enabling up to 100 percent ownership in industrial projects under certain conditions stated the report. The government s easing of investment restrictions marks a significant shift in Kuwait s real estate landscape balancing efforts to encourage foreign investment while addressing the ...
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Kuwait s recent landmark reforms in its real estate sector - especially with regard to industrial projects where foreign investors have been permitted to obtain up to 100% ownership - is likely to drive the property prices to a new high reported Arab Times citing an industry expert. The government which controls over 90% of the country s land has historically restricted foreign investment to protect local ownership. However new measures now allow investors to acquire land more easily through corporate investment funds and portfolios with provisions enabling up to 100 percent ownership in industrial projects under certain conditions stated the report. The government s easing of investment restrictions marks a significant shift in Kuwait s real estate landscape balancing efforts to encourage foreign investment while addressing the ...
Amanat Holdings a leading healthcare and education listed investment company has completed the sale of its education real estate asset for AED453 million ( 123.35 million). Delivering an unlevered cash-on-cash multiple of 1.7x and an internal rate of return of 10% the transaction will generate a net cash return of AED294 million underscoring the strength of Amanat s investment strategy the company said. The asset comprises the real estate of North London Collegiate School acquired by Amanat in June 2018 for AED360 million with Amanat subsequently funding a capital expansion of AED33 million increasing Amanat s total investment in the asset to AED393 million. This successful exit is a clear demonstration of Amanat s identify grow monetise strategy which focuses on investing in high-potential assets accelerating their growth and monetizing t...
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Amanat Holdings a leading healthcare and education listed investment company has completed the sale of its education real estate asset for AED453 million ( 123.35 million). Delivering an unlevered cash-on-cash multiple of 1.7x and an internal rate of return of 10% the transaction will generate a net cash return of AED294 million underscoring the strength of Amanat s investment strategy the company said. The asset comprises the real estate of North London Collegiate School acquired by Amanat in June 2018 for AED360 million with Amanat subsequently funding a capital expansion of AED33 million increasing Amanat s total investment in the asset to AED393 million. This successful exit is a clear demonstration of Amanat s identify grow monetise strategy which focuses on investing in high-potential assets accelerating their growth and monetizing t...
The Saudi Central Bank (SAMA) has granted the Saudi Real Estate Refinance Company a no-objection clearance to launch residential mortgage-backed securities (RMBS) in the domestic market. According to a press release issued by SAMA this programme is designed to strengthen the sector s financing capacity by transforming residential real estate financing portfolios into securities. This will contribute to establishing a robust securitisation issuance framework reinforcing the domestic debt market broadening the investor base and diversifying funding sources. In line with the objectives of Saudi Vision 2030 this step supports SAMA s mandate in fostering financial sector stability through its regulatory and supervisory role it said according to a Saudi Press Agency report. ...
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The Saudi Central Bank (SAMA) has granted the Saudi Real Estate Refinance Company a no-objection clearance to launch residential mortgage-backed securities (RMBS) in the domestic market. According to a press release issued by SAMA this programme is designed to strengthen the sector s financing capacity by transforming residential real estate financing portfolios into securities. This will contribute to establishing a robust securitisation issuance framework reinforcing the domestic debt market broadening the investor base and diversifying funding sources. In line with the objectives of Saudi Vision 2030 this step supports SAMA s mandate in fostering financial sector stability through its regulatory and supervisory role it said according to a Saudi Press Agency report. ...
DP World has signed a memorandum of understanding with Itochu Corporation one of Japan s largest trading companies to expand logistics supply chain infrastructure and distribution capabilities in sub-Saharan Africa. The agreement was signed during the Tokyo International Conference on African Development (TICAD9) held in Yokohama Japan by Beat Simon Group Chief Operating Officer Logistics at DP World and senior executives from Itochu Corporation said a Wam news agency report. Under the MoU both companies will explore opportunities to enhance connectivity and market access across Africa supporting Japanese businesses seeking to establish or grow their presence on the continent. Initial discussions are focused on fleet and logistics operations supply chain optimisation and the distribution of commodities and food products. DP World...
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DP World has signed a memorandum of understanding with Itochu Corporation one of Japan s largest trading companies to expand logistics supply chain infrastructure and distribution capabilities in sub-Saharan Africa. The agreement was signed during the Tokyo International Conference on African Development (TICAD9) held in Yokohama Japan by Beat Simon Group Chief Operating Officer Logistics at DP World and senior executives from Itochu Corporation said a Wam news agency report. Under the MoU both companies will explore opportunities to enhance connectivity and market access across Africa supporting Japanese businesses seeking to establish or grow their presence on the continent. Initial discussions are focused on fleet and logistics operations supply chain optimisation and the distribution of commodities and food products. DP World...
Dubai Municipality and Dubai Courts have signed a co-operation agreement to establish the Citizens Home Construction Dispute Resolution Center at Al Manara Center which is affiliated with Dubai Municipality. As per the deal Dubai Municipality will provide technical and logistical support to ensure smooth operations including engineering expertise to assist judicial services and reduce litigation timelines. Dubai Courts will establish and operate the centre according to the highest judicial and administrative standards ensuring efficient dispute resolution and the adoption of innovative solutions that enhance citizen satisfaction. The agreement is aimed at strengthening the legal and regulatory framework for housing projects while delivering integrated government services that enhance quality of life and address citizens needs with speed and efficiency. ...
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Dubai Municipality and Dubai Courts have signed a co-operation agreement to establish the Citizens Home Construction Dispute Resolution Center at Al Manara Center which is affiliated with Dubai Municipality. As per the deal Dubai Municipality will provide technical and logistical support to ensure smooth operations including engineering expertise to assist judicial services and reduce litigation timelines. Dubai Courts will establish and operate the centre according to the highest judicial and administrative standards ensuring efficient dispute resolution and the adoption of innovative solutions that enhance citizen satisfaction. The agreement is aimed at strengthening the legal and regulatory framework for housing projects while delivering integrated government services that enhance quality of life and address citizens needs with speed and efficiency. ...
The GCC real estate sector witnessed robust activity during the first half of the year underlining the resilience of the industry mainly supported by sales activity rising property values and investor demand across residential commercial and hospitality segments according to Kuwait Financial Centre (Markaz). In its latest real estate market outlook Markaz offers a comprehensive review of market performance across Kuwait Saudi Arabia and UAE for the first half along with forward-looking insights for H2 2025. With macroeconomic indicators showing signs of continued recovery Markaz expects real estate markets in Kuwait Saudi Arabia and the UAE to maintain upward momentum through the second half of 2025. Lower interest rates fiscal support and sustained government investment in economic diversification are anticipated to drive growth and market confidence it st...
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The GCC real estate sector witnessed robust activity during the first half of the year underlining the resilience of the industry mainly supported by sales activity rising property values and investor demand across residential commercial and hospitality segments according to Kuwait Financial Centre (Markaz). In its latest real estate market outlook Markaz offers a comprehensive review of market performance across Kuwait Saudi Arabia and UAE for the first half along with forward-looking insights for H2 2025. With macroeconomic indicators showing signs of continued recovery Markaz expects real estate markets in Kuwait Saudi Arabia and the UAE to maintain upward momentum through the second half of 2025. Lower interest rates fiscal support and sustained government investment in economic diversification are anticipated to drive growth and market confidence it st...
The Etihad Rail network will transform the UAE s economic landscape by boosting connectivity reducing travel times and driving genuine demand in emerging markets says a UAE property expert. Etihad Rail benefits will extend far beyond real estate creating new corridors for living trade and investment across the Emirates said Firas Al Msaddi CEO of fäm Properties. When we saw Sheikh Mohammed riding the Etihad Rail from Dubai to Fujairah that wasn t just a symbolic moment - that was the announcement of a new real estate era in the UAE said Al Msaddi. It represented a once-in-a-generation infrastructure shift that will redefine how value is created captured and capitalised across the Emirates he said. We re not just talking about transportation. We re talking about speed interconnectivity and productivity and how all of ...
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The Etihad Rail network will transform the UAE s economic landscape by boosting connectivity reducing travel times and driving genuine demand in emerging markets says a UAE property expert. Etihad Rail benefits will extend far beyond real estate creating new corridors for living trade and investment across the Emirates said Firas Al Msaddi CEO of fäm Properties. When we saw Sheikh Mohammed riding the Etihad Rail from Dubai to Fujairah that wasn t just a symbolic moment - that was the announcement of a new real estate era in the UAE said Al Msaddi. It represented a once-in-a-generation infrastructure shift that will redefine how value is created captured and capitalised across the Emirates he said. We re not just talking about transportation. We re talking about speed interconnectivity and productivity and how all of ...
The real estate transactions in Bahrain surged to BD775.2 million ( 2.04 billion) during the first half from BD745.8 million last year reported BNA citing a senior official. This marks an increase from 5 099 transactions compared to last year s figure of 5 005 transactions. As per official data there was a 20.75% jump in the value of property transactions by non-Bahrainis compared to a 4.39% increase among Bahrainis said Survey and Land Registration Bureau (SLRB) president Bassem Al Hamer. The highest single-day transaction value in this period was recorded on April 21 reaching BD53.6 million he stated underscoring the continued growth of Bahrain s real estate market. By governorate the Capital Governorate led with BD265.4 million in transactions and a 32.84% growth rate followed by Muharraq Governorate with B...
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The real estate transactions in Bahrain surged to BD775.2 million ( 2.04 billion) during the first half from BD745.8 million last year reported BNA citing a senior official. This marks an increase from 5 099 transactions compared to last year s figure of 5 005 transactions. As per official data there was a 20.75% jump in the value of property transactions by non-Bahrainis compared to a 4.39% increase among Bahrainis said Survey and Land Registration Bureau (SLRB) president Bassem Al Hamer. The highest single-day transaction value in this period was recorded on April 21 reaching BD53.6 million he stated underscoring the continued growth of Bahrain s real estate market. By governorate the Capital Governorate led with BD265.4 million in transactions and a 32.84% growth rate followed by Muharraq Governorate with B...
The Saudi Real Estate Refinance Company (SRC) a PIF company has announced that it has signed a real estate finance portfolio purchase agreement with Bank Albilad. This strategic step reinforces the ongoing partnership between the two entities and reflects their shared commitment to supporting the growth of the Kingdom s residential real estate finance market said SRC in a statement. The agreement forms part of a broader series of future initiatives aimed at deepening collaboration between SRC and the bank over the coming year in support of the development of the housing and financial sectors. It was signed in the presence of Majid bin Abdullah Al Hogail the Saudi Minister of Municipalities and Housing and Chairman of SRC alongside Nasser bin Mohammed Al Subaie the Chairman of Bank Albilad. This agreement builds on the existing partnership between t...
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The Saudi Real Estate Refinance Company (SRC) a PIF company has announced that it has signed a real estate finance portfolio purchase agreement with Bank Albilad. This strategic step reinforces the ongoing partnership between the two entities and reflects their shared commitment to supporting the growth of the Kingdom s residential real estate finance market said SRC in a statement. The agreement forms part of a broader series of future initiatives aimed at deepening collaboration between SRC and the bank over the coming year in support of the development of the housing and financial sectors. It was signed in the presence of Majid bin Abdullah Al Hogail the Saudi Minister of Municipalities and Housing and Chairman of SRC alongside Nasser bin Mohammed Al Subaie the Chairman of Bank Albilad. This agreement builds on the existing partnership between t...
The Saudi Real Estate Refinance Company (SRC) a PIF company has signed a real estate finance portfolio purchase agreement with Bank Albilad. The signing took place in the presence of Majid bin Abdullah Al-Hogail the Minister of Municipalities and Housing and Chairman of SRC alongside Nasser bin Mohammed Al-Subaie Chairman of Bank Albilad. This strategic step reinforces the ongoing partnership between the two entities and reflects their shared commitment to supporting the growth of the kingdom s residential real estate finance market. The agreement forms part of a broader series of future initiatives aimed at deepening collaboration between SRC and the bank over the coming year in support of the development of the housing and financial sectors. It aligns with Saudi Vision 2030 objectives to enhance financial sustainability and stimulate economic growth. SRC CEO Majeed bi...
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The Saudi Real Estate Refinance Company (SRC) a PIF company has signed a real estate finance portfolio purchase agreement with Bank Albilad. The signing took place in the presence of Majid bin Abdullah Al-Hogail the Minister of Municipalities and Housing and Chairman of SRC alongside Nasser bin Mohammed Al-Subaie Chairman of Bank Albilad. This strategic step reinforces the ongoing partnership between the two entities and reflects their shared commitment to supporting the growth of the kingdom s residential real estate finance market. The agreement forms part of a broader series of future initiatives aimed at deepening collaboration between SRC and the bank over the coming year in support of the development of the housing and financial sectors. It aligns with Saudi Vision 2030 objectives to enhance financial sustainability and stimulate economic growth. SRC CEO Majeed bi...
GWC a provider of logistics and supply chain solutions in Qatar and Qatar Airways have signed a five-year service agreement renewing their partnership. GWC has been the logistics service provider for Qatar Airways and its affiliates including MATAR and Qatar Duty Free. The agreement will continue to provide integrated logistics services including import/export handling customs clearance warehousing and distribution inventory management and document storage. Sheikh Abdulla Bin Fahad Bin Jassim Bin Jabor Al Thani GWC Group Managing Director said: This renewed agreement with Qatar Airways reflects the strength of Qatar national institutions working together to achieve excellence on a global stage. At GWC we are proud to support the operations of the World s Best Airline with world-class logistics solutions rooted in innovation efficiency and reliability. Our long-standing partnership with Q...
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GWC a provider of logistics and supply chain solutions in Qatar and Qatar Airways have signed a five-year service agreement renewing their partnership. GWC has been the logistics service provider for Qatar Airways and its affiliates including MATAR and Qatar Duty Free. The agreement will continue to provide integrated logistics services including import/export handling customs clearance warehousing and distribution inventory management and document storage. Sheikh Abdulla Bin Fahad Bin Jassim Bin Jabor Al Thani GWC Group Managing Director said: This renewed agreement with Qatar Airways reflects the strength of Qatar national institutions working together to achieve excellence on a global stage. At GWC we are proud to support the operations of the World s Best Airline with world-class logistics solutions rooted in innovation efficiency and reliability. Our long-standing partnership with Q...
Abu Dhabi-based Modon Holding a leader in real estate hospitality asset and investment management and tourism has delivered an outstanding AED2.1 billion ( 571.82 million) H1 2025 net profit with continued momentum across its core segments. Modon Holding an Abu Dhabi-based leader in real estate hospitality asset and investment management and tourism delivered exceptional performance in the first half of 2025 with revenue and profitability significantly increasing year-on-year excluding last year s one-off items. The results were driven by solid contributions across all four core segments underpinned by the successful integration of recent acquisitions and execution of strategic investments the company said. Real estate revenue led Modon s growth which was further strengthened by stronger recurring revenue from improved operations across the Asset M...
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Abu Dhabi-based Modon Holding a leader in real estate hospitality asset and investment management and tourism has delivered an outstanding AED2.1 billion ( 571.82 million) H1 2025 net profit with continued momentum across its core segments. Modon Holding an Abu Dhabi-based leader in real estate hospitality asset and investment management and tourism delivered exceptional performance in the first half of 2025 with revenue and profitability significantly increasing year-on-year excluding last year s one-off items. The results were driven by solid contributions across all four core segments underpinned by the successful integration of recent acquisitions and execution of strategic investments the company said. Real estate revenue led Modon s growth which was further strengthened by stronger recurring revenue from improved operations across the Asset M...
As UAE continues to implement its key urban agenda its residential real estate sector is poised to register steady and sustained growth over the coming years according to Arabian Gulf Properties a key real estate developer. The value of residential real estate transactions is projected to witness a compound annual growth rate (CAGR) of 2.66% over the next four years stated the developer in its report. This trajectory reflects a robust outlook for the UAE s property market buoyed by growing investor confidence strong policy support and the nation s continued appeal as a hub for economic opportunity and lifestyle excellence it added. Arabian Gulf Properties under the leadership of Chairman Badar Rashid Alblooshi views this trend as a clear signal of the market s resilience and evolution. The company continues to advoc...
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As UAE continues to implement its key urban agenda its residential real estate sector is poised to register steady and sustained growth over the coming years according to Arabian Gulf Properties a key real estate developer. The value of residential real estate transactions is projected to witness a compound annual growth rate (CAGR) of 2.66% over the next four years stated the developer in its report. This trajectory reflects a robust outlook for the UAE s property market buoyed by growing investor confidence strong policy support and the nation s continued appeal as a hub for economic opportunity and lifestyle excellence it added. Arabian Gulf Properties under the leadership of Chairman Badar Rashid Alblooshi views this trend as a clear signal of the market s resilience and evolution. The company continues to advoc...
PlanRadar a global leader in digital documentation communication and reporting for the construction and real estate sectors has released an in-depth eBook tackling one of the industry s most costly yet overlooked challenges - information loss in construction. Titled Information Loss in Construction: How to Identify and Eliminate Hidden Costs the eBook explores how disconnected teams scattered tools and outdated reporting methods continue to disrupt timelines drain profitability and undermine collaboration on even the most high-profile projects. The publication arrives as construction professionals across the globe face increasing pressure to deliver projects faster safer and with tighter margins amid growing risks related to data integrity rework and regulatory compliance said the statement from PlanRadar. A trillion-dollar problem no...
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PlanRadar a global leader in digital documentation communication and reporting for the construction and real estate sectors has released an in-depth eBook tackling one of the industry s most costly yet overlooked challenges - information loss in construction. Titled Information Loss in Construction: How to Identify and Eliminate Hidden Costs the eBook explores how disconnected teams scattered tools and outdated reporting methods continue to disrupt timelines drain profitability and undermine collaboration on even the most high-profile projects. The publication arrives as construction professionals across the globe face increasing pressure to deliver projects faster safer and with tighter margins amid growing risks related to data integrity rework and regulatory compliance said the statement from PlanRadar. A trillion-dollar problem no...
Saudi Electricity Company has clocked a major milestone at the 1 200MW Rabigh Combined Cycle Power Plant located in the kingdom s Western region with its Unit 41 officially achieving the First Fire a defining step in 1 200 MW of reliable power closer to the grid. The plant which has been developed by a consortium of Egyptian group Elsewedy Electric Power Systems and Siemens Energy comes in line with SEC s objectives of developing and growing its generation fleet capabilities addressing SPPC the Principal Buyer requirements. Following this milestone the Elsewedy-Siemens Energy consortium said this confirms the readiness of all major systems for Unit 41. The gas turbine generator air intake exhaust gas system (Bypass stack and diverter damper) and auxilliary systems - including closed cooling water service water compressed air fuel g...
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Saudi Electricity Company has clocked a major milestone at the 1 200MW Rabigh Combined Cycle Power Plant located in the kingdom s Western region with its Unit 41 officially achieving the First Fire a defining step in 1 200 MW of reliable power closer to the grid. The plant which has been developed by a consortium of Egyptian group Elsewedy Electric Power Systems and Siemens Energy comes in line with SEC s objectives of developing and growing its generation fleet capabilities addressing SPPC the Principal Buyer requirements. Following this milestone the Elsewedy-Siemens Energy consortium said this confirms the readiness of all major systems for Unit 41. The gas turbine generator air intake exhaust gas system (Bypass stack and diverter damper) and auxilliary systems - including closed cooling water service water compressed air fuel g...
ROSHN Group Saudi Arabia s leading multi-asset real estate developer and a Public Investment Fund (PIF) company has signed several agreements with leading Singaporean organizations as part of its ROSHNEXT innovation program. These agreements signed with AI Singapore and Action Community for Entrepreneurship (ACE.SG) are aimed at promoting the transfer of ideas with a focus on leveraging both entrepreneurship and technology to innovate in the real estate sector. Designed to accelerate the pace of real estate development in the kingdom to match the aspirations of Saudi Vision 2030 ROSHNEXT s innovation program is facilitating partnerships with leading entrepreneurial and technology organizations. The agreement with Singapore s ACE.SG establishes a strategic platform to build country-level innovation partnerships. T...
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ROSHN Group Saudi Arabia s leading multi-asset real estate developer and a Public Investment Fund (PIF) company has signed several agreements with leading Singaporean organizations as part of its ROSHNEXT innovation program. These agreements signed with AI Singapore and Action Community for Entrepreneurship (ACE.SG) are aimed at promoting the transfer of ideas with a focus on leveraging both entrepreneurship and technology to innovate in the real estate sector. Designed to accelerate the pace of real estate development in the kingdom to match the aspirations of Saudi Vision 2030 ROSHNEXT s innovation program is facilitating partnerships with leading entrepreneurial and technology organizations. The agreement with Singapore s ACE.SG establishes a strategic platform to build country-level innovation partnerships. T...
Nesma & Partners a leading integrated projects solutions company in Saudi Arabia has announced the successful completion of its acquisition of Al Yusr Industrial Contracting Company (AYTB) a prominent provider of industrial services in the kingdom. This strategic investment positions Nesma & Partners as the leading integrated industrial services platform enhancing its capabilities across the energy infrastructure and industrial sectors in alignment with Saudi Arabia s Vision 2030 development objectives said the company in a statement. Under the deal AYTB will continue to operate as an independent company within the Nesma & Partners group preserving its organisational structure brand and operational autonomy. This acquisition enhances both companies capacity to deliver high-value project solutions across the whole asset lifecycle - from...
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Nesma & Partners a leading integrated projects solutions company in Saudi Arabia has announced the successful completion of its acquisition of Al Yusr Industrial Contracting Company (AYTB) a prominent provider of industrial services in the kingdom. This strategic investment positions Nesma & Partners as the leading integrated industrial services platform enhancing its capabilities across the energy infrastructure and industrial sectors in alignment with Saudi Arabia s Vision 2030 development objectives said the company in a statement. Under the deal AYTB will continue to operate as an independent company within the Nesma & Partners group preserving its organisational structure brand and operational autonomy. This acquisition enhances both companies capacity to deliver high-value project solutions across the whole asset lifecycle - from...
HH Sheikh Mohammed bin Rashid Al Maktoum Vice President and Prime Minister of the UAE and Ruler of Dubai has issued a new law regulating contracting activities in the emirate. The law which represents a significant step forward in strengthening the legal and governance framework of the emirate s contracting sector supports Dubai s vision to advance the development of vital industries in line with global best practices reported Wam . The new law sets out a unified regulatory framework for contractor classification oversight transparency and accountability supporting Dubai s goals for sustainable growth. It also aligns with the emirate s building codes planning regulations and long-term development strategy it stated. The new law applies to all contractors operating in Dubai including those based...
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HH Sheikh Mohammed bin Rashid Al Maktoum Vice President and Prime Minister of the UAE and Ruler of Dubai has issued a new law regulating contracting activities in the emirate. The law which represents a significant step forward in strengthening the legal and governance framework of the emirate s contracting sector supports Dubai s vision to advance the development of vital industries in line with global best practices reported Wam . The new law sets out a unified regulatory framework for contractor classification oversight transparency and accountability supporting Dubai s goals for sustainable growth. It also aligns with the emirate s building codes planning regulations and long-term development strategy it stated. The new law applies to all contractors operating in Dubai including those based...
In a landmark move aimed at bridging traditional real estate with emerging opportunities in infrastructure Charles Group one of India s fastest-growing diversified conglomerates has signed a 1 billion strategic agreement with the US-based Patel Family Office during the Global Wealth Conference 2025 hosted by the Sovereign Wealth Fund Institute (SWFI) at London s historic Mansion House. As per the deal the firms will co-develop a digital investment platform focused on real estate and infrastructure assets across UK GCC India and the SAARC region with long-term plans to scale globally and explore strategic business investment opportunities in this space. Charles Group said the technology infrastructure will be provided by a US-based company. The MoU was formally exchanged in the Egyptian Hall witnessed by more than 40 global asset allocators including ove...
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In a landmark move aimed at bridging traditional real estate with emerging opportunities in infrastructure Charles Group one of India s fastest-growing diversified conglomerates has signed a 1 billion strategic agreement with the US-based Patel Family Office during the Global Wealth Conference 2025 hosted by the Sovereign Wealth Fund Institute (SWFI) at London s historic Mansion House. As per the deal the firms will co-develop a digital investment platform focused on real estate and infrastructure assets across UK GCC India and the SAARC region with long-term plans to scale globally and explore strategic business investment opportunities in this space. Charles Group said the technology infrastructure will be provided by a US-based company. The MoU was formally exchanged in the Egyptian Hall witnessed by more than 40 global asset allocators including ove...
Savoye a leading one-stop-shop integrator of automated warehouse solutions and software publisher in the Middle East has successfully deployed its ODATiO Warehouse Management System (WMS) at CJ Logistics fulfilment centre for iHerb located in the Riyadh Integrated zone that is developed and operated by Special Integrated Logistics Zone (SILZ) Company in Riyadh Saudi Arabia. This successful completion marks a significant achievement as the first WMS implementation within a SILZ facility a critical initiative under Saudi Vision 2030 designed to position the Kingdom as a leading global integrated logistics hub and to bolster the Middle East s rapidly growing logistics and e-commerce sectors. This implementation reflects the strong alliance between Savoye CJ Logistics and SILZ Company - each playing a strategic role in delivering a smart scalable and high-throughput logistics operation in the he...
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Savoye a leading one-stop-shop integrator of automated warehouse solutions and software publisher in the Middle East has successfully deployed its ODATiO Warehouse Management System (WMS) at CJ Logistics fulfilment centre for iHerb located in the Riyadh Integrated zone that is developed and operated by Special Integrated Logistics Zone (SILZ) Company in Riyadh Saudi Arabia. This successful completion marks a significant achievement as the first WMS implementation within a SILZ facility a critical initiative under Saudi Vision 2030 designed to position the Kingdom as a leading global integrated logistics hub and to bolster the Middle East s rapidly growing logistics and e-commerce sectors. This implementation reflects the strong alliance between Savoye CJ Logistics and SILZ Company - each playing a strategic role in delivering a smart scalable and high-throughput logistics operation in the he...
Growth in Saudi Arabia s construction activity shows no signs of slowing with the construction output value for the construction transport power oil & gas industrial water and chemical sectors reaching 148 billion in the first half of 2024 up 4.6% compared to the same period the previous year according to global property consultancy Knight Frank. Knight Frank s analysis shows that the Saudi construction sector has been growing year-on-year since 2020 and forecasts this upward trajectory will continue hitting 191 billion in 2029. This phenomenal level of development is being driven by the government s Vision 2030 strategy to position the kingdom as a global hub for tourism commerce and trade stated Knight Frank in its latest Saudi Arabia Construction Landscape Review. This transformation aims to deliver over 1 million homes more than 362 000 hotel...
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Growth in Saudi Arabia s construction activity shows no signs of slowing with the construction output value for the construction transport power oil & gas industrial water and chemical sectors reaching 148 billion in the first half of 2024 up 4.6% compared to the same period the previous year according to global property consultancy Knight Frank. Knight Frank s analysis shows that the Saudi construction sector has been growing year-on-year since 2020 and forecasts this upward trajectory will continue hitting 191 billion in 2029. This phenomenal level of development is being driven by the government s Vision 2030 strategy to position the kingdom as a global hub for tourism commerce and trade stated Knight Frank in its latest Saudi Arabia Construction Landscape Review. This transformation aims to deliver over 1 million homes more than 362 000 hotel...
Unique Properties one of the UAE s most prominent real estate agencies has announced a landmark joint venture with AIR (AI Realtor) an AI-native proptech innovator. As part of the agreement Unique Properties will invest 20 million into AIR over the next two years to fuel the development and deployment of next-generation technologies in the real estate space. The partnership marks a bold leap forward for the region s property sector blending years of market leadership with cutting-edge artificial intelligence to reshape how real estate is bought sold and experienced. Unique Properties said this strategic alliance comes as the UAE cements its position as a global leader in real estate innovation. Progressive government policies and a world-class digital ecosystem have created ideal conditions for meaningful disruption ...
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Unique Properties one of the UAE s most prominent real estate agencies has announced a landmark joint venture with AIR (AI Realtor) an AI-native proptech innovator. As part of the agreement Unique Properties will invest 20 million into AIR over the next two years to fuel the development and deployment of next-generation technologies in the real estate space. The partnership marks a bold leap forward for the region s property sector blending years of market leadership with cutting-edge artificial intelligence to reshape how real estate is bought sold and experienced. Unique Properties said this strategic alliance comes as the UAE cements its position as a global leader in real estate innovation. Progressive government policies and a world-class digital ecosystem have created ideal conditions for meaningful disruption ...
Abu Dhabi Airports has announced a strategic joint venture with Jingdong Property (JDP) the infrastructure arm of global e-commerce leader JD to develop and operate advanced logistics facilities within the Abu Dhabi Airports Free Zone. The strategic partnership will see the construction of two state-of-the-art warehouses bonded and non-bonded spanning a total gross floor area of over 70 000 sqm at the ADAFZ Logistics Park marking JDP s first development project in the UAE. The infrastructure investment is set to enhance cross-border e-commerce capabilities and strengthen e-commerce and specialised cargo logistics throughout the GCC and broader Mena region it stated. Elena Sorlini the Managing Director and Chief Executive Officer at Abu Dhabi Airports said: This joint venture aligns seamlessly with Abu Dhabi s vision of becoming a global trade and logis...
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Abu Dhabi Airports has announced a strategic joint venture with Jingdong Property (JDP) the infrastructure arm of global e-commerce leader JD to develop and operate advanced logistics facilities within the Abu Dhabi Airports Free Zone. The strategic partnership will see the construction of two state-of-the-art warehouses bonded and non-bonded spanning a total gross floor area of over 70 000 sqm at the ADAFZ Logistics Park marking JDP s first development project in the UAE. The infrastructure investment is set to enhance cross-border e-commerce capabilities and strengthen e-commerce and specialised cargo logistics throughout the GCC and broader Mena region it stated. Elena Sorlini the Managing Director and Chief Executive Officer at Abu Dhabi Airports said: This joint venture aligns seamlessly with Abu Dhabi s vision of becoming a global trade and logis...
COBOD International in collaboration with the Technische Universität Braunschweig has introduced the first commercially available multifunctional construction robot. Built on COBOD s 3D construction printing technology the jointly developed system by COBOD and Institute for Structural Design (ITE) integrates a telescopic vertical extension unit with a robotic arm that enables the Shotcrete 3D Printing Process (SC3DP). Shotcrete is used to construct complex concrete structures like tunnels swimming pools retaining walls and to reinforce concrete structures. However the telescopic tool is not limited to shotcrete applications multiple other tools can also be mounted onto the vertical telescopic unit. The vertical telescopic unit is mounted between two X-axes on a COBOD BOD2 3D construction printer. Multifunct...
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COBOD International in collaboration with the Technische Universität Braunschweig has introduced the first commercially available multifunctional construction robot. Built on COBOD s 3D construction printing technology the jointly developed system by COBOD and Institute for Structural Design (ITE) integrates a telescopic vertical extension unit with a robotic arm that enables the Shotcrete 3D Printing Process (SC3DP). Shotcrete is used to construct complex concrete structures like tunnels swimming pools retaining walls and to reinforce concrete structures. However the telescopic tool is not limited to shotcrete applications multiple other tools can also be mounted onto the vertical telescopic unit. The vertical telescopic unit is mounted between two X-axes on a COBOD BOD2 3D construction printer. Multifunct...
In a major move South Korean conglomerate HD Hyundai has merged its construction entities - HD Hyundai Construction Equipment and HD Hyundai Infracore - to form a new entity HD Construction Equipment with a consolidated revenue of KRW 8 trillion ( 6.15 billion). A major player in the Middle East region HD Hyundai is engaged in shipbuilding heavy equipment machinery and the petroleum industry. The decision to merge was made during separate board meetings held by both companies yesterday (July 1). An extraordinary shareholders meeting will follow which is scheduled for September 16 along with necessary regulatory reviews said the statement from HD Hyundai. The merger effective January 1 2026 aims to enhance agility in responding to market demands amid intensifying competition and global uncertainties while strengthening future technological capabilities and ensuring...
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In a major move South Korean conglomerate HD Hyundai has merged its construction entities - HD Hyundai Construction Equipment and HD Hyundai Infracore - to form a new entity HD Construction Equipment with a consolidated revenue of KRW 8 trillion ( 6.15 billion). A major player in the Middle East region HD Hyundai is engaged in shipbuilding heavy equipment machinery and the petroleum industry. The decision to merge was made during separate board meetings held by both companies yesterday (July 1). An extraordinary shareholders meeting will follow which is scheduled for September 16 along with necessary regulatory reviews said the statement from HD Hyundai. The merger effective January 1 2026 aims to enhance agility in responding to market demands amid intensifying competition and global uncertainties while strengthening future technological capabilities and ensuring...
Leading UAE developer Aldar has annoucned that it has acquired quality warehousing and light industrial real estate assets in the Al Dhafra region of Abu Dhabi from Waha for AED530 million ( 144 million). The assets which are located at the 6-million-sq-m Almarkaz Industrial Park a flagship industrial and business park development add 182 500 sqm of net leasable area (NLA) to Aldar Investment s income-generating logistics portfolio. The Almarkaz Industrial Park developed by Waha Land a wholly-owned subsidiary of Waha Capital enjoys special economic zone status. With further development potential at Al Markaz the transaction provides an opportunity for Aldar and Waha to explore future collaboration at the site. It benefits from quality infrastructure and the growing demand for logistics space driven by increasing intra-region...
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Leading UAE developer Aldar has annoucned that it has acquired quality warehousing and light industrial real estate assets in the Al Dhafra region of Abu Dhabi from Waha for AED530 million ( 144 million). The assets which are located at the 6-million-sq-m Almarkaz Industrial Park a flagship industrial and business park development add 182 500 sqm of net leasable area (NLA) to Aldar Investment s income-generating logistics portfolio. The Almarkaz Industrial Park developed by Waha Land a wholly-owned subsidiary of Waha Capital enjoys special economic zone status. With further development potential at Al Markaz the transaction provides an opportunity for Aldar and Waha to explore future collaboration at the site. It benefits from quality infrastructure and the growing demand for logistics space driven by increasing intra-region...
Fuelled by the National Industrial Development and Logistics Program (NIDLP) under Vision 2030 Saudi Arabia s logistics and warehousing sector is rapidly expanding driven by a booming e-commerce market and increasing demand for Grade A warehousing according to leading real estate expert JLL. A key component of Vision 2030 the NIDLP aims to boost the logistics sector s GDP contribution from 6% to 10% by 2030 and localise 70% of the supply chain it stated. In the JLL report titled Emerging Trends Shaping Saudi Arabia s Logistics and Warehousing Market it unveils the key factors driving this growth along with the challenges and opportunities in powering the Kingdom s ambition to become a global logistics hub. It also highlights significant interest and investment from both domestic and international institutional players recog...
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Fuelled by the National Industrial Development and Logistics Program (NIDLP) under Vision 2030 Saudi Arabia s logistics and warehousing sector is rapidly expanding driven by a booming e-commerce market and increasing demand for Grade A warehousing according to leading real estate expert JLL. A key component of Vision 2030 the NIDLP aims to boost the logistics sector s GDP contribution from 6% to 10% by 2030 and localise 70% of the supply chain it stated. In the JLL report titled Emerging Trends Shaping Saudi Arabia s Logistics and Warehousing Market it unveils the key factors driving this growth along with the challenges and opportunities in powering the Kingdom s ambition to become a global logistics hub. It also highlights significant interest and investment from both domestic and international institutional players recog...
UCC Holding in partnership with Qatar s public works authority Ashghal has officially started work on the printing phase of the 3D Printed Schools Project thus marking the launch of the world s largest construction development using 3D printing technology. The project involves the construction of 14 public schools including two built using 3D printing technology each with a built-up area of 20 000 sqm - totaling 40 000 sq m. This is 40 times larger than the largest 3D-printed building constructed anywhere in the world to date said UCC Holding in its statement. The two schools are designed as two-storey buildings on 100 by 100 m plots each making this project an unprecedented model for future-ready educational infrastructure in Qatar and across the region it stated. For this mega project UCC Holding commissioned Cobod the world leader in 3D construction printing ...
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UCC Holding in partnership with Qatar s public works authority Ashghal has officially started work on the printing phase of the 3D Printed Schools Project thus marking the launch of the world s largest construction development using 3D printing technology. The project involves the construction of 14 public schools including two built using 3D printing technology each with a built-up area of 20 000 sqm - totaling 40 000 sq m. This is 40 times larger than the largest 3D-printed building constructed anywhere in the world to date said UCC Holding in its statement. The two schools are designed as two-storey buildings on 100 by 100 m plots each making this project an unprecedented model for future-ready educational infrastructure in Qatar and across the region it stated. For this mega project UCC Holding commissioned Cobod the world leader in 3D construction printing ...
Swisslog a global leader in automated logistics solutions has announced that it has sealed a key partnership deal with leading retail operator Chalhoub Group for the development of its new state-of-the-art logistics hub for fashion and beauty products in Riyadh. Located in the SILZ Free Trade Zone near the international airport the facility will strengthen Saudi Arabia s logistics infrastructure support the country s growing role in global trade and cater to the rising demand for e-commerce and luxury goods across the region. AutoStore solution with SynQ software for fashion and beauty Swisslog was selected for its ability to deliver advanced automation solutions tailored to the evolving needs of the logistics sector. The hub will incorporate Swisslog s AutoStore system featuring 67 000 bins 42 robots and fully integrated inbound and outbound p...
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Swisslog a global leader in automated logistics solutions has announced that it has sealed a key partnership deal with leading retail operator Chalhoub Group for the development of its new state-of-the-art logistics hub for fashion and beauty products in Riyadh. Located in the SILZ Free Trade Zone near the international airport the facility will strengthen Saudi Arabia s logistics infrastructure support the country s growing role in global trade and cater to the rising demand for e-commerce and luxury goods across the region. AutoStore solution with SynQ software for fashion and beauty Swisslog was selected for its ability to deliver advanced automation solutions tailored to the evolving needs of the logistics sector. The hub will incorporate Swisslog s AutoStore system featuring 67 000 bins 42 robots and fully integrated inbound and outbound p...
Dubai Metro s Blue Line is having a profound positive impact on the emirate s real estate market reshaping the real estate investments map and writing a new chapter in the city s real estate boom said a leading Dubai-based real estate brokerage W Capital. In an in-depth analysis of the project W Capital stated that the new Blue Line was in the heart of the Dubai Urban Plan 2040 framework which aims to enhance urban sustainability improve quality of life and support transportation infrastructure. This will directly impact vital economic sectors most notably the real estate sector it stated. The project will cover areas of high strategic importance including Al Warqaa Mirdif and Dubai Academic City and will reach Jebel Ali Port via Dubai International Airport. This extensive coverage will contribute to connecting new resid...
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Dubai Metro s Blue Line is having a profound positive impact on the emirate s real estate market reshaping the real estate investments map and writing a new chapter in the city s real estate boom said a leading Dubai-based real estate brokerage W Capital. In an in-depth analysis of the project W Capital stated that the new Blue Line was in the heart of the Dubai Urban Plan 2040 framework which aims to enhance urban sustainability improve quality of life and support transportation infrastructure. This will directly impact vital economic sectors most notably the real estate sector it stated. The project will cover areas of high strategic importance including Al Warqaa Mirdif and Dubai Academic City and will reach Jebel Ali Port via Dubai International Airport. This extensive coverage will contribute to connecting new resid...
Almal Real Estate Development celebrated the official inauguration of The Unexpected Ibiza Hotel the first destination under the bold new Unexpected Hotels & Residences brand. The reimagined Ibiza hotel marks the beginning of an ambitious international journey one that Almal Real Estate Development is spearheading in the Middle East region with its flagship development: The Unexpected Al Marjan Island Hotel & Residences set to open its door in 2027 on Al Marjan island Ras Al Khaimah. The Unexpected Al Marjan Island Hotel & Residencies will feature 422 exclusive hotel and residential units all offering high energy experiences unexpected entertainment vibrant day-to-night life. Located just steps from the Wynn resort guests will enjoy panoramic views of both the Wynn resort and the serene sea. The destination will offer standout amenities including an...
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Almal Real Estate Development celebrated the official inauguration of The Unexpected Ibiza Hotel the first destination under the bold new Unexpected Hotels & Residences brand. The reimagined Ibiza hotel marks the beginning of an ambitious international journey one that Almal Real Estate Development is spearheading in the Middle East region with its flagship development: The Unexpected Al Marjan Island Hotel & Residences set to open its door in 2027 on Al Marjan island Ras Al Khaimah. The Unexpected Al Marjan Island Hotel & Residencies will feature 422 exclusive hotel and residential units all offering high energy experiences unexpected entertainment vibrant day-to-night life. Located just steps from the Wynn resort guests will enjoy panoramic views of both the Wynn resort and the serene sea. The destination will offer standout amenities including an...
Dubai Land Department (DLD) has announced that its second tokenised project on the Prypco Mint platform was fully funded in a record-breaking one minute and 58 seconds attracting 149 investors from 35 nationalities. This unprecedented demand pushed the waiting list to over 10 700 investors reflecting rising confidence and strong interest in digital real estate ownership solutions across the emirate said DLD in a statement. By enabling investors to purchase shares in ready properties through seamless and cost-effective mechanisms Prypco Mint is setting new standards for market accessibility. As the platform expands its projects and partnerships it is helping to shape a future where tokenised assets are expected to become a central part of Dubai s property market by 2033 it stated. Amid this momentum DLD has called upon interest...
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Dubai Land Department (DLD) has announced that its second tokenised project on the Prypco Mint platform was fully funded in a record-breaking one minute and 58 seconds attracting 149 investors from 35 nationalities. This unprecedented demand pushed the waiting list to over 10 700 investors reflecting rising confidence and strong interest in digital real estate ownership solutions across the emirate said DLD in a statement. By enabling investors to purchase shares in ready properties through seamless and cost-effective mechanisms Prypco Mint is setting new standards for market accessibility. As the platform expands its projects and partnerships it is helping to shape a future where tokenised assets are expected to become a central part of Dubai s property market by 2033 it stated. Amid this momentum DLD has called upon interest...
Dutco and Sweid & Sweid have announced the launch of Terralogix Dubai s largest privately-owned logistics park in a move that reinforces Dubai s ambitions to become one of the world s top five Grade-A logistics hubs. Located in Warsan Northern Dubai the 3.3 million sq ft development is designed to serve as a critical node in Dubai s supply chain infrastructure a statement said. Maher Sweid Founder and Managing Partner of Sweid & Sweid commented: Terralogix will be developed by Dutco and Sweid & Sweid two UAE-based firms with strong heritage and established track records. The Dutco Group brings decades of expertise across many sectors including construction hospitality real estate and oil and gas while Sweid & Sweid is known for developing high quality institutional-grade real estate assets. Together we will be delivering Terralogix as a lan...
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Dutco and Sweid & Sweid have announced the launch of Terralogix Dubai s largest privately-owned logistics park in a move that reinforces Dubai s ambitions to become one of the world s top five Grade-A logistics hubs. Located in Warsan Northern Dubai the 3.3 million sq ft development is designed to serve as a critical node in Dubai s supply chain infrastructure a statement said. Maher Sweid Founder and Managing Partner of Sweid & Sweid commented: Terralogix will be developed by Dutco and Sweid & Sweid two UAE-based firms with strong heritage and established track records. The Dutco Group brings decades of expertise across many sectors including construction hospitality real estate and oil and gas while Sweid & Sweid is known for developing high quality institutional-grade real estate assets. Together we will be delivering Terralogix as a lan...
Emirates Stallions Group a leading conglomerate with operations spanning from workforce solutions real estate development design and interiors manufacturing to agriculture and landscaping and a subsidiary of International Holding Company announced today the launch of Royal Development Holding a visionary boutique real estate developer aiming to evolve spaces and elevate lives. As part of its launch Royal Development Holding unifies a group of specialized real estate development entities including Royal Development Company (RDC) and Royal Architect Project Management (RAPM) while paving the way for the introduction of new companies that will further strengthen its market presence and capabilities said Emirates Stallions Group in a statement. Building on Royal Development Company s 15-year legacy of trust excellence and innovation the launch of Royal Development Holding marks a new era for the Group...
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Emirates Stallions Group a leading conglomerate with operations spanning from workforce solutions real estate development design and interiors manufacturing to agriculture and landscaping and a subsidiary of International Holding Company announced today the launch of Royal Development Holding a visionary boutique real estate developer aiming to evolve spaces and elevate lives. As part of its launch Royal Development Holding unifies a group of specialized real estate development entities including Royal Development Company (RDC) and Royal Architect Project Management (RAPM) while paving the way for the introduction of new companies that will further strengthen its market presence and capabilities said Emirates Stallions Group in a statement. Building on Royal Development Company s 15-year legacy of trust excellence and innovation the launch of Royal Development Holding marks a new era for the Group...
Four Winds Saudi Arabia Limited a leader in comprehensive and integrated moving and logistics services since 1979 is showcasing its cutting-edge logistics solutions at the Saudi Warehousing & Logistics Expo 2025. The expo is being held in Riyadh from May 27 to 29. As Saudi Arabia solidifies its status as a global logistics hub this event offers a platform for industry professionals to explore strategies that boost efficiency expand networks and improve operations especially as the sector is expected to handle 1.7 billion tons of cargo by 2030. The company has reiterated its commitment to enhancing the efficiency of logistics and shipping services in the kingdom and contributing to the realisation of Vision 2030. Nizar Al Mani CEO of Four Winds Saudi Arabia Limited said: The Saudi Warehousing & Logistics Expo is the largest commercial event in Saudi...
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Four Winds Saudi Arabia Limited a leader in comprehensive and integrated moving and logistics services since 1979 is showcasing its cutting-edge logistics solutions at the Saudi Warehousing & Logistics Expo 2025. The expo is being held in Riyadh from May 27 to 29. As Saudi Arabia solidifies its status as a global logistics hub this event offers a platform for industry professionals to explore strategies that boost efficiency expand networks and improve operations especially as the sector is expected to handle 1.7 billion tons of cargo by 2030. The company has reiterated its commitment to enhancing the efficiency of logistics and shipping services in the kingdom and contributing to the realisation of Vision 2030. Nizar Al Mani CEO of Four Winds Saudi Arabia Limited said: The Saudi Warehousing & Logistics Expo is the largest commercial event in Saudi...
Dubai Land Department (DLD) has announced the launch of the Mena region s first tokenised real estate investment project through the Prypco Mint platform. The initiative is being implemented in partnership with Prypco in collaboration with the Virtual Assets Regulatory Authority (VARA) the Central Bank of the UAE and the Dubai Future Foundation (DFF) through the Real Estate Sandbox. Zand Digital Bank has been appointed as the banking partner for the project s pilot phase positioning Dubai as the first city in the Mena region to adopt a licensed platform for real estate tokenization. DLD has officially launched the pilot phase of investment in tokenized real estate marking the activation of the digital platform mint.prypco.com. The platform enables users to generate returns and own a share in a prime real estate project in Dubai. ...
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Dubai Land Department (DLD) has announced the launch of the Mena region s first tokenised real estate investment project through the Prypco Mint platform. The initiative is being implemented in partnership with Prypco in collaboration with the Virtual Assets Regulatory Authority (VARA) the Central Bank of the UAE and the Dubai Future Foundation (DFF) through the Real Estate Sandbox. Zand Digital Bank has been appointed as the banking partner for the project s pilot phase positioning Dubai as the first city in the Mena region to adopt a licensed platform for real estate tokenization. DLD has officially launched the pilot phase of investment in tokenized real estate marking the activation of the digital platform mint.prypco.com. The platform enables users to generate returns and own a share in a prime real estate project in Dubai. ...
ROSHN Group Saudi Arabia s leading multi-asset real estate developer and a PIF company has launched the ROSHNEXT the Group s innovation arm. The program is designed to develop human-centric experiences that accelerate growth enhance collaboration and establish new standards within the real estate sector. ROSHNEXT will drive innovation by fostering partnerships adopting cutting-edge technologies and fast-tracking the transformation of new ideas into impactful real-world solutions reinforcing the Group s vision to lead meaningful innovation and transformation within the real estate industry. The launch of ROSHNEXT reaffirms the Saudi group s commitment to innovation as a core strategic pillar. The Group has recently introduced several pioneering initiatives including the interactive ROSHN Group s Mobility Exp...
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ROSHN Group Saudi Arabia s leading multi-asset real estate developer and a PIF company has launched the ROSHNEXT the Group s innovation arm. The program is designed to develop human-centric experiences that accelerate growth enhance collaboration and establish new standards within the real estate sector. ROSHNEXT will drive innovation by fostering partnerships adopting cutting-edge technologies and fast-tracking the transformation of new ideas into impactful real-world solutions reinforcing the Group s vision to lead meaningful innovation and transformation within the real estate industry. The launch of ROSHNEXT reaffirms the Saudi group s commitment to innovation as a core strategic pillar. The Group has recently introduced several pioneering initiatives including the interactive ROSHN Group s Mobility Exp...
Leading Egyptian developer Talaat Moustafa Group Holding (TMG Holding) said it has entered into an agreement with Oman s Ministry of Housing and Urban Planning to develop two large-scale projects in the sultanate at an investment of RO1.8 billion ( 4.7 billion). The agreement marks TMG Holding s first venture into Oman and aligns with the company s regional expansion strategy focused on developing integrated smart cities across the Middle East. Announcing the key projects TMG Holding said the first one will cover 2.7 million sq m in Sultan Haitham City west of Muscat. Strategically located near Muscat International Airport the mixed-use development will include villas apartment buildings a 190 000 sqm social and sports club and 140 000 sqm of commercial and service areas. The second development will span 2.2 million sq m in A...
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Leading Egyptian developer Talaat Moustafa Group Holding (TMG Holding) said it has entered into an agreement with Oman s Ministry of Housing and Urban Planning to develop two large-scale projects in the sultanate at an investment of RO1.8 billion ( 4.7 billion). The agreement marks TMG Holding s first venture into Oman and aligns with the company s regional expansion strategy focused on developing integrated smart cities across the Middle East. Announcing the key projects TMG Holding said the first one will cover 2.7 million sq m in Sultan Haitham City west of Muscat. Strategically located near Muscat International Airport the mixed-use development will include villas apartment buildings a 190 000 sqm social and sports club and 140 000 sqm of commercial and service areas. The second development will span 2.2 million sq m in A...
DP World will invest 2.5 billion this year to expand its global logistics network launching major infrastructure projects across India Africa South America and Europe in response to rising demand for resilient integrated supply chain solutions. The four major developments across four continents extend DP World s end-to-end capabilities significantly expanding capacity in its network of global ports and reinforcing its position as a key enabler of global trade said DP World in a statement. Construction is underway on a new 510 million terminal at Tuna Tekra in Gujarat on India s northwestern coast. Featuring a 1.1 km berth and annual capacity of 2.19 million TEU the terminal will connect India s vast hinterland to global markets through a network of roads and railways enabling faster more efficient trade access for Indian businesses. ...
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DP World will invest 2.5 billion this year to expand its global logistics network launching major infrastructure projects across India Africa South America and Europe in response to rising demand for resilient integrated supply chain solutions. The four major developments across four continents extend DP World s end-to-end capabilities significantly expanding capacity in its network of global ports and reinforcing its position as a key enabler of global trade said DP World in a statement. Construction is underway on a new 510 million terminal at Tuna Tekra in Gujarat on India s northwestern coast. Featuring a 1.1 km berth and annual capacity of 2.19 million TEU the terminal will connect India s vast hinterland to global markets through a network of roads and railways enabling faster more efficient trade access for Indian businesses. ...
AD Ports Group and Burjeel Holdings have officially launched their healthcare logistics joint venture (JV) Docktour during Make it in the Emirates forum now underway in Abu Dhabi. The platform was unveiled at the Burjeel Holdings booth in the presence of Dr Sultan Ahmed Al Jaber UAE Minister of Industry and Advanced Technology; Captain Mohamed Juma Al Shamisi Managing Director and Group CEO of AD Ports Group; and Dr Shamsheer Vayalil Founder and Chairman of Burjeel Holdings. Docktour marks a bold expansion in healthcare logistics aiming at redefining how medical services and infrastructure are delivered to communities across Africa. It will serve as a comprehensive supply chain platform integrating logistics modular infrastructure training and emergency response into a single unified ecosystem said a statement. Docktour will supplement Burjeel Holding...
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AD Ports Group and Burjeel Holdings have officially launched their healthcare logistics joint venture (JV) Docktour during Make it in the Emirates forum now underway in Abu Dhabi. The platform was unveiled at the Burjeel Holdings booth in the presence of Dr Sultan Ahmed Al Jaber UAE Minister of Industry and Advanced Technology; Captain Mohamed Juma Al Shamisi Managing Director and Group CEO of AD Ports Group; and Dr Shamsheer Vayalil Founder and Chairman of Burjeel Holdings. Docktour marks a bold expansion in healthcare logistics aiming at redefining how medical services and infrastructure are delivered to communities across Africa. It will serve as a comprehensive supply chain platform integrating logistics modular infrastructure training and emergency response into a single unified ecosystem said a statement. Docktour will supplement Burjeel Holding...
Gulf construction firms are at a pivotal moment driven by the scale speed and complexity of growth across the region. As the Gulf races to deliver over 1.5 trillion in transformative projects firms are being called on to build faster smarter and more sustainably than ever before. A new white paper from Versatile International Construction in 2025: Paving the Way to 2030 and Beyond offers a strategic roadmap for the future - defining four clear priorities that construction firms must embrace to remain competitive and future-ready. The white paper draws on insights from Versatile s inaugural Construction Pulse Survey conducted by Ipsos which engaged senior construction professionals across the UAE and Saudi Arabia. While the data highlights key pressures and expectations the paper s core focus is on actionable strategies to help the sector lead the next phase of growth. /d...
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Gulf construction firms are at a pivotal moment driven by the scale speed and complexity of growth across the region. As the Gulf races to deliver over 1.5 trillion in transformative projects firms are being called on to build faster smarter and more sustainably than ever before. A new white paper from Versatile International Construction in 2025: Paving the Way to 2030 and Beyond offers a strategic roadmap for the future - defining four clear priorities that construction firms must embrace to remain competitive and future-ready. The white paper draws on insights from Versatile s inaugural Construction Pulse Survey conducted by Ipsos which engaged senior construction professionals across the UAE and Saudi Arabia. While the data highlights key pressures and expectations the paper s core focus is on actionable strategies to help the sector lead the next phase of growth. /d...
Bhatia General Contracting a leading contractor in the UAE will hand over 1 050 exquisite villas in Al Khawaneej 2 district this month as part of a major government initiative to provide high-quality modern housing for Emirati families and support sustainable urban development in Dubai. The project exemplifies Bhatia Group s dedication to providing a variety of best-in-class housing options in line with its 50 years of excellence and commitment to enhancing UAE s real estate landscape the contractor said. The project which is now in its final phase plays a crucial role in the Dubai 2033 Plan a strategic initiative aimed at reinforcing Dubai s reputation as one of the world s most liveable urban centres. With this milestone the total value of the projects executed since 2024 has reached AED2.5 billion. Furthermore the project is part of the historic AED65...
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Bhatia General Contracting a leading contractor in the UAE will hand over 1 050 exquisite villas in Al Khawaneej 2 district this month as part of a major government initiative to provide high-quality modern housing for Emirati families and support sustainable urban development in Dubai. The project exemplifies Bhatia Group s dedication to providing a variety of best-in-class housing options in line with its 50 years of excellence and commitment to enhancing UAE s real estate landscape the contractor said. The project which is now in its final phase plays a crucial role in the Dubai 2033 Plan a strategic initiative aimed at reinforcing Dubai s reputation as one of the world s most liveable urban centres. With this milestone the total value of the projects executed since 2024 has reached AED2.5 billion. Furthermore the project is part of the historic AED65...
The Misk Heritage Museum Asaan has announced the start of construction today at the site that will host this prominent cultural landmark in the historic district of Diriyah in Riyadh Saudi Arabia. The ground-breaking was held during a special ceremony organised by the museum to coincide with the Kingdom s celebrations of International Museum Day and was attended by representatives from the Mohammed bin Salman Foundation (Misk) Diriyah Company and designers Zaha Hadid Architects. The museum spans an area of 40 000 sq m and moves beyond the traditional museum concept to offer integrated cultural experiences. Through interactive spaces workshops and activities rooted in local environments visitors will be immersed in the daily life of past generations exploring traditional arts crafts stories customs and social values. Asaan provides a vibrant window into Saudi culture showcasing its tangible and intangibl...
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The Misk Heritage Museum Asaan has announced the start of construction today at the site that will host this prominent cultural landmark in the historic district of Diriyah in Riyadh Saudi Arabia. The ground-breaking was held during a special ceremony organised by the museum to coincide with the Kingdom s celebrations of International Museum Day and was attended by representatives from the Mohammed bin Salman Foundation (Misk) Diriyah Company and designers Zaha Hadid Architects. The museum spans an area of 40 000 sq m and moves beyond the traditional museum concept to offer integrated cultural experiences. Through interactive spaces workshops and activities rooted in local environments visitors will be immersed in the daily life of past generations exploring traditional arts crafts stories customs and social values. Asaan provides a vibrant window into Saudi culture showcasing its tangible and intangibl...
LEOS Developments an award-winning international property and lifestyle developer is revolutionising the real estate market by embedding artificial intelligence across every stage of its development and customer journey. LEOS is placing technology at the heart of its strategy to deliver smarter faster and more emotionally engaging experiences the company said. In property development AI is transforming how homes are designed visualised and assessed. According to Forbes Global AI-driven tools can increase property valuation accuracy by as much as 7.7% and reduce the need for manual inspections by up to 50% demonstrating the technology s growing impact and potential. One of the most powerful AI tools LEOS is pioneering is the creation of AI-generated fully animated project presentations that give prospective buyers and partners a vivid emotionally com...
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LEOS Developments an award-winning international property and lifestyle developer is revolutionising the real estate market by embedding artificial intelligence across every stage of its development and customer journey. LEOS is placing technology at the heart of its strategy to deliver smarter faster and more emotionally engaging experiences the company said. In property development AI is transforming how homes are designed visualised and assessed. According to Forbes Global AI-driven tools can increase property valuation accuracy by as much as 7.7% and reduce the need for manual inspections by up to 50% demonstrating the technology s growing impact and potential. One of the most powerful AI tools LEOS is pioneering is the creation of AI-generated fully animated project presentations that give prospective buyers and partners a vivid emotionally com...
Dar Alwd Construction (DAW) recently showcased to UAE Ministry of Energy & Infrastructure (MOEI) officials how PRC (Polymer Resin Concrete) technologies are transforming the standards of infrastructure development. PRC products are known for their extended service life corrosion resistance and environmental efficiency. The visit a PRC manufacturing facility in Qatar provided valuable insights into material innovation quality assurance processes and advancements in sustainable manufacturing practices. It also reinforced DAW s role in bringing high-performance PRC solutions to the UAE s infrastructure sector. The Ministry of Energy & Infrastructure stated: We are committed to integrating innovative sustainable technologies into our infrastructure projects. Our engagement with advanced materials like PRC reflects our strategic focus on building resilien...
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Dar Alwd Construction (DAW) recently showcased to UAE Ministry of Energy & Infrastructure (MOEI) officials how PRC (Polymer Resin Concrete) technologies are transforming the standards of infrastructure development. PRC products are known for their extended service life corrosion resistance and environmental efficiency. The visit a PRC manufacturing facility in Qatar provided valuable insights into material innovation quality assurance processes and advancements in sustainable manufacturing practices. It also reinforced DAW s role in bringing high-performance PRC solutions to the UAE s infrastructure sector. The Ministry of Energy & Infrastructure stated: We are committed to integrating innovative sustainable technologies into our infrastructure projects. Our engagement with advanced materials like PRC reflects our strategic focus on building resilien...
Real estate and construction stocks continue to capture investor attention across the UAE with strong fundamentals says eToro s recent Retail Investor Beat survey. According to the survey 52.5% of investors see real estate and construction as the most promising sector over the next 12 months ahead of even the fast-growing technology sector which came in at 42% says Josh Gilbert Market Analyst at eToro. Dubai and Abu Dhabi s property markets remain two of the hottest globally fuelled by population growth foreign investment and demand for premium developments. This strength has translated into solid returns for listed developers in the last year such as Emaar Properties ( 72%) and Aldar ( 40%). Aldar s Q1 results reported in late April showed why this real estate is attracting investor attention with a 33% rise in net profit and a 42% jump in devel...
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Real estate and construction stocks continue to capture investor attention across the UAE with strong fundamentals says eToro s recent Retail Investor Beat survey. According to the survey 52.5% of investors see real estate and construction as the most promising sector over the next 12 months ahead of even the fast-growing technology sector which came in at 42% says Josh Gilbert Market Analyst at eToro. Dubai and Abu Dhabi s property markets remain two of the hottest globally fuelled by population growth foreign investment and demand for premium developments. This strength has translated into solid returns for listed developers in the last year such as Emaar Properties ( 72%) and Aldar ( 40%). Aldar s Q1 results reported in late April showed why this real estate is attracting investor attention with a 33% rise in net profit and a 42% jump in devel...
AD Ports Group and the General Authority for Suez Canal Economic Zone (SCZONE) the integrated investment destination for linking industry and global trade have signed a 50-year renewable usufruct agreement to develop and operate a 20 sq km industrial and logistics park near the Egyptian coastal city of Port Said on the Mediterranean Sea. The East Port Said Industrial Zone provides an opportunity to turn a unique location on the Mediterranean Sea into a key hub for international trade and investments serving the East-West trade routes right at the entrance of the Suez Canal said a Wam news agency report. The agreement to develop Kezad East Port Said Industrial and Logistics Zone was signed in Cairo and witnessed by Egyptian Prime Minister Dr Mostafa Madbouly in the presence of Dr Sultan Al Jaber UAE Minister of Industry and Advanced Technology Mohamed Hassan Alsuwaidi UAE Minister of Investment Lieutena...
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AD Ports Group and the General Authority for Suez Canal Economic Zone (SCZONE) the integrated investment destination for linking industry and global trade have signed a 50-year renewable usufruct agreement to develop and operate a 20 sq km industrial and logistics park near the Egyptian coastal city of Port Said on the Mediterranean Sea. The East Port Said Industrial Zone provides an opportunity to turn a unique location on the Mediterranean Sea into a key hub for international trade and investments serving the East-West trade routes right at the entrance of the Suez Canal said a Wam news agency report. The agreement to develop Kezad East Port Said Industrial and Logistics Zone was signed in Cairo and witnessed by Egyptian Prime Minister Dr Mostafa Madbouly in the presence of Dr Sultan Al Jaber UAE Minister of Industry and Advanced Technology Mohamed Hassan Alsuwaidi UAE Minister of Investment Lieutena...
AD Ports Group and the General Authority for Suez Canal Economic Zone (SCZONE) the integrated investment destination for linking industry and global trade have signed a 50-year renewable usufruct agreement to develop and operate a 20 sq km industrial and logistics park near the Egyptian coastal city of Port Said on the Mediterranean Sea. The East Port Said Industrial Zone provides an opportunity to turn a unique location on the Mediterranean Sea into a key hub for international trade and investments serving the East-West trade routes right at the entrance of the Suez Canal said a Wam news agency report. The agreement to develop Kezad East Port Said Industrial and Logistics Zone was signed in Cairo and witnessed by Egyptian Prime Minister Dr Mostafa Madbouly in the presence of Dr Sultan Al Jaber UAE Minister of Industry and Advanced Technology Mohamed Hassan Alsuwaidi UAE Minister of Investment Lieutena...
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AD Ports Group and the General Authority for Suez Canal Economic Zone (SCZONE) the integrated investment destination for linking industry and global trade have signed a 50-year renewable usufruct agreement to develop and operate a 20 sq km industrial and logistics park near the Egyptian coastal city of Port Said on the Mediterranean Sea. The East Port Said Industrial Zone provides an opportunity to turn a unique location on the Mediterranean Sea into a key hub for international trade and investments serving the East-West trade routes right at the entrance of the Suez Canal said a Wam news agency report. The agreement to develop Kezad East Port Said Industrial and Logistics Zone was signed in Cairo and witnessed by Egyptian Prime Minister Dr Mostafa Madbouly in the presence of Dr Sultan Al Jaber UAE Minister of Industry and Advanced Technology Mohamed Hassan Alsuwaidi UAE Minister of Investment Lieutena...
MAG a leading real estate developer in the UAE has signed an historic 3 billion tokenization agreement with MultiBank Group the world s largest financial derivatives institution based in Dubai and Mavryk a leading blockchain innovator. This marks the largest real-world asset (RWA) tokenization initiative globally to date MAG said. The initiative highlights the imminent launch of MBG the utility token at the core of MultiBank s next-generation digital finance ecosystem. The partnership will bring MAG s high-value real estate developments The Ritz-Carlton Residences Dubai Creekside which is part of the Keturah Resort and Keturah Reserve onto the blockchain making them available to global investors via MultiBank.io s fully regulated RWA marketplace. Once launched holders of the RWA assets will be able to earn yield dis...
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MAG a leading real estate developer in the UAE has signed an historic 3 billion tokenization agreement with MultiBank Group the world s largest financial derivatives institution based in Dubai and Mavryk a leading blockchain innovator. This marks the largest real-world asset (RWA) tokenization initiative globally to date MAG said. The initiative highlights the imminent launch of MBG the utility token at the core of MultiBank s next-generation digital finance ecosystem. The partnership will bring MAG s high-value real estate developments The Ritz-Carlton Residences Dubai Creekside which is part of the Keturah Resort and Keturah Reserve onto the blockchain making them available to global investors via MultiBank.io s fully regulated RWA marketplace. Once launched holders of the RWA assets will be able to earn yield dis...
The UAE real estate market has demonstrated resilience amid global economic uncertainties in Q1 2025 said CBRE Middle East the global leader in commercial real estate services and investments in a report. CBRE s UAE Real Estate Market Review for the first quarter of 2025 reflects the impact of ongoing trade tensions and declining oil prices on the UAE s economy with the International Monetary Fund (IMF) revising its global growth forecast from 3.3% to 2.8%. Nevertheless the UAE s diversified economy and strong international trade relationships are expected to cushion the effects of these external challenges. Notably UAE s foreign trade surged to AED 3.0 trillion in 2025 marking a 15% year-on-year increase driven by proactive efforts to diversify trade partners and enhance trade flows it said. In a significant move Dubai s Executive Council has issued Resolution No. ...
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The UAE real estate market has demonstrated resilience amid global economic uncertainties in Q1 2025 said CBRE Middle East the global leader in commercial real estate services and investments in a report. CBRE s UAE Real Estate Market Review for the first quarter of 2025 reflects the impact of ongoing trade tensions and declining oil prices on the UAE s economy with the International Monetary Fund (IMF) revising its global growth forecast from 3.3% to 2.8%. Nevertheless the UAE s diversified economy and strong international trade relationships are expected to cushion the effects of these external challenges. Notably UAE s foreign trade surged to AED 3.0 trillion in 2025 marking a 15% year-on-year increase driven by proactive efforts to diversify trade partners and enhance trade flows it said. In a significant move Dubai s Executive Council has issued Resolution No. ...
The Saudi Ports Authority (Mawani) and Sultan Logistics have signed a contract to establish a logistics park at King Abdulaziz Port in Dammam with an investment of up to SAR200 million ( 53.32 million). The new park will span an area of 197 000 sq m aiming to enhance the port s competitiveness increase its operational efficiency and elevate the level of logistics services provided. The contract was signed by the Acting President of the Saudi Ports Authority Mazen bin Ahmed Al-Turki and the Chairman of Sultan Logistics Ali Sultan Al-Qahtani in the presence of several officials. This logistics park is part of Mawani s initiatives aligned with the objectives of the National Transport and Logistics Strategy which seeks to establish logistics parks inside and outside the kingdom s ports. The initiative aims to solid...
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The Saudi Ports Authority (Mawani) and Sultan Logistics have signed a contract to establish a logistics park at King Abdulaziz Port in Dammam with an investment of up to SAR200 million ( 53.32 million). The new park will span an area of 197 000 sq m aiming to enhance the port s competitiveness increase its operational efficiency and elevate the level of logistics services provided. The contract was signed by the Acting President of the Saudi Ports Authority Mazen bin Ahmed Al-Turki and the Chairman of Sultan Logistics Ali Sultan Al-Qahtani in the presence of several officials. This logistics park is part of Mawani s initiatives aligned with the objectives of the National Transport and Logistics Strategy which seeks to establish logistics parks inside and outside the kingdom s ports. The initiative aims to solid...
Bahrain Surf Park - Club Hawaii Experience has awarded the construction contract for the exciting new leisure destination to Poullaides Construction Company (PCC) a leading contractor known for delivering large-scale innovative projects. This milestone propels the surf park closer to its highly anticipated opening at Bilaj Al Jazayer a 1.3 million sq m development along Bahrain s southwest coast. Bahrain Surf Park Club Hawaii Experience is developed by Edamah (Bahrain Real Estate Investment) in partnership with GFH Financial Group (GFH). The project will create significant local opportunities generating jobs and boosting Bahrain s economy which strengthen its appeal as a hub for adventure tourism. Khaled Abdulrahman Al Majed CEO of Edamah commented: As the developer of Bahrain Surf Park - Club Hawaii Experience we are proud ...
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Bahrain Surf Park - Club Hawaii Experience has awarded the construction contract for the exciting new leisure destination to Poullaides Construction Company (PCC) a leading contractor known for delivering large-scale innovative projects. This milestone propels the surf park closer to its highly anticipated opening at Bilaj Al Jazayer a 1.3 million sq m development along Bahrain s southwest coast. Bahrain Surf Park Club Hawaii Experience is developed by Edamah (Bahrain Real Estate Investment) in partnership with GFH Financial Group (GFH). The project will create significant local opportunities generating jobs and boosting Bahrain s economy which strengthen its appeal as a hub for adventure tourism. Khaled Abdulrahman Al Majed CEO of Edamah commented: As the developer of Bahrain Surf Park - Club Hawaii Experience we are proud ...
Bahrain Surf Park - Club Hawaii Experience has awarded the construction contract for the exciting new leisure destination to Poullaides Construction Company (PCC) a leading contractor known for delivering large-scale innovative projects. This milestone propels the surf park closer to its highly anticipated opening at Bilaj Al Jazayer a 1.3 million sq m development along Bahrain s southwest coast. Bahrain Surf Park Club Hawaii Experience is developed by Edamah (Bahrain Real Estate Investment) in partnership with GFH Financial Group (GFH). The project will create significant local opportunities generating jobs and boosting Bahrain s economy which strengthen its appeal as a hub for adventure tourism. Khaled Abdulrahman Al Majed CEO of Edamah commented: As the developer of Bahrain Surf Park - Club Hawaii Experience we are proud ...
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Bahrain Surf Park - Club Hawaii Experience has awarded the construction contract for the exciting new leisure destination to Poullaides Construction Company (PCC) a leading contractor known for delivering large-scale innovative projects. This milestone propels the surf park closer to its highly anticipated opening at Bilaj Al Jazayer a 1.3 million sq m development along Bahrain s southwest coast. Bahrain Surf Park Club Hawaii Experience is developed by Edamah (Bahrain Real Estate Investment) in partnership with GFH Financial Group (GFH). The project will create significant local opportunities generating jobs and boosting Bahrain s economy which strengthen its appeal as a hub for adventure tourism. Khaled Abdulrahman Al Majed CEO of Edamah commented: As the developer of Bahrain Surf Park - Club Hawaii Experience we are proud ...
The Saudi Ports Authority (Mawani) has signed an agreement with Alissa Universal Motors a subsidiary of Abdullatif Alissa Group Holding to establish a logistics park at King Abdulaziz Port in Dammam. The project involves an investment of up to SAR300 million ( 79.97 million) and will cover an area of 382 000 sq m. The park will be dedicated to the import and re-export of vehicles and spare parts. According to a press release issued by Mawani the agreement was signed by Acting President of the Saudi Ports Authority Mazen bin Ahmed Al-Turki and Managing Director of Abdullatif Alissa Group Holding Abdullah Abdulmohsen Alissa said a Saudi Press Agency report. The establishment of the logistics park is part of Mawani s initiatives aligned with the objectives of the National Transport and Logistics Strategy. It aims to create high-efficiency logistics parks within and beyon...
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The Saudi Ports Authority (Mawani) has signed an agreement with Alissa Universal Motors a subsidiary of Abdullatif Alissa Group Holding to establish a logistics park at King Abdulaziz Port in Dammam. The project involves an investment of up to SAR300 million ( 79.97 million) and will cover an area of 382 000 sq m. The park will be dedicated to the import and re-export of vehicles and spare parts. According to a press release issued by Mawani the agreement was signed by Acting President of the Saudi Ports Authority Mazen bin Ahmed Al-Turki and Managing Director of Abdullatif Alissa Group Holding Abdullah Abdulmohsen Alissa said a Saudi Press Agency report. The establishment of the logistics park is part of Mawani s initiatives aligned with the objectives of the National Transport and Logistics Strategy. It aims to create high-efficiency logistics parks within and beyon...
Eqarcom a UAE-based digital proptech platform and a unit of Al Ghurair one of the largest diversified family business groups in the region said it has signed a strategic agreement with the Dubai Land Department (DLD). As per the deal the duo will work to boost transparency and regulatory compliance by enabling data integration automating leasing processes as well as enhance the tenant-landlord experience via digital platforms. The deal inked at the recently held IPS Conference 2025 in Dubai marks a major step forward in the ongoing digitisation of Dubai s real estate sector said the company in a statement. Thanks to the partnership Eqarcom will integrate with DLD systems including Ejari and gain access to market data helping landlords streamline leasing processes and offer compliant data-driven tenant experiences it stated. ...
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Eqarcom a UAE-based digital proptech platform and a unit of Al Ghurair one of the largest diversified family business groups in the region said it has signed a strategic agreement with the Dubai Land Department (DLD). As per the deal the duo will work to boost transparency and regulatory compliance by enabling data integration automating leasing processes as well as enhance the tenant-landlord experience via digital platforms. The deal inked at the recently held IPS Conference 2025 in Dubai marks a major step forward in the ongoing digitisation of Dubai s real estate sector said the company in a statement. Thanks to the partnership Eqarcom will integrate with DLD systems including Ejari and gain access to market data helping landlords streamline leasing processes and offer compliant data-driven tenant experiences it stated. ...
The UAE s construction and real estate market has continued to experience a strong surge and increase in overall demand in recent years as it now accelerates into a new phase of high-growth development - driven by urban expansion inward investment and visionary planning. Lifesize Plans Dubai a leading company in life-sized architectural projections worldwide has noticed this huge growth and entered the UAE market in 2023 as a transformative force offering immersive full-scale architectural visualization that is redefining the pre-construction experience. Backed by decades of ambition and infrastructure investment the UAE s construction sector is expected to continue growing over the next three years and reach an estimated size of AED181.446 in 2028 as per market intelligence and advisory firm Mordor Intelligence. As per the report Dubai alone is laun...
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The UAE s construction and real estate market has continued to experience a strong surge and increase in overall demand in recent years as it now accelerates into a new phase of high-growth development - driven by urban expansion inward investment and visionary planning. Lifesize Plans Dubai a leading company in life-sized architectural projections worldwide has noticed this huge growth and entered the UAE market in 2023 as a transformative force offering immersive full-scale architectural visualization that is redefining the pre-construction experience. Backed by decades of ambition and infrastructure investment the UAE s construction sector is expected to continue growing over the next three years and reach an estimated size of AED181.446 in 2028 as per market intelligence and advisory firm Mordor Intelligence. As per the report Dubai alone is laun...
Amwaj International a billion-dollar multi-national conglomerate with over 10 000 employees and a global footprint across 27 cities has acquired 18% stake in Dubai-based development firm Cledor founded by industry veteran Omar Gull. The investment marks Amwaj s entry into the rapidly growing real estate market in the UAE with Cledor s post-money valuation hitting 100 million. This investment is a key part of Amwaj s strategy to expand into one of the world s most vibrant real estate markets said the company in a statement. For over 30 years Founder and Chairman of Amwaj Group Namir El Akabi has successfully directed developments and investments worth more than 60 billion across nearly every sector of the real estate industry. Under the partnership Cledor will manage and spearhead Amwaj s upcomi...
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Amwaj International a billion-dollar multi-national conglomerate with over 10 000 employees and a global footprint across 27 cities has acquired 18% stake in Dubai-based development firm Cledor founded by industry veteran Omar Gull. The investment marks Amwaj s entry into the rapidly growing real estate market in the UAE with Cledor s post-money valuation hitting 100 million. This investment is a key part of Amwaj s strategy to expand into one of the world s most vibrant real estate markets said the company in a statement. For over 30 years Founder and Chairman of Amwaj Group Namir El Akabi has successfully directed developments and investments worth more than 60 billion across nearly every sector of the real estate industry. Under the partnership Cledor will manage and spearhead Amwaj s upcomi...
Global luxury real estate brand Christie s International Real Estate has announced the opening of its new headquarters in the Kingdom of Saudi Arabia in partnership with one of the country s leading real estate technology firms Wasalt. A subsidiary of Quara Holding Group a Saudi investment firm with interests in real estate development finance advisory services and technology Wasalt provides AI-driven property search client-agent matchmaking auctions and other real estate services on a single platform. The brokerage Christie s International Real Estate Saudi Arabia will aim to serve the country s burgeoning luxury property market. The company recently filed for an IPO on the Saudi Parallel Market said Christie s International Real Estate in a statement. Christie s Internati...
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Global luxury real estate brand Christie s International Real Estate has announced the opening of its new headquarters in the Kingdom of Saudi Arabia in partnership with one of the country s leading real estate technology firms Wasalt. A subsidiary of Quara Holding Group a Saudi investment firm with interests in real estate development finance advisory services and technology Wasalt provides AI-driven property search client-agent matchmaking auctions and other real estate services on a single platform. The brokerage Christie s International Real Estate Saudi Arabia will aim to serve the country s burgeoning luxury property market. The company recently filed for an IPO on the Saudi Parallel Market said Christie s International Real Estate in a statement. Christie s Internati...
Diriyah Company the developer of Saudi Arabia s premier historical cultural and lifestyle destination has awarded a 1.4 billion (SAR5.1 billion) construction contract to build the iconic Royal Diriyah Opera House and a number of surrounding assets. The contract was awarded to a joint venture comprising El Seif Engineering Contracting Company (ESEC) China State Construction Engineering Corporation (CSCEC) and Midmac Construction Company. Diriyah Company s Group CEO Jerry Inzerillo signed the agreement with the three joint venture companies during a ceremony held recently to mark this latest milestone on Diriyah s development journey including a series of other major project announcements made during the first quarter of 2025. The Royal Diriyah Opera House will become Diriyah s flagship performing arts venue and a major architectural landmark ...
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Diriyah Company the developer of Saudi Arabia s premier historical cultural and lifestyle destination has awarded a 1.4 billion (SAR5.1 billion) construction contract to build the iconic Royal Diriyah Opera House and a number of surrounding assets. The contract was awarded to a joint venture comprising El Seif Engineering Contracting Company (ESEC) China State Construction Engineering Corporation (CSCEC) and Midmac Construction Company. Diriyah Company s Group CEO Jerry Inzerillo signed the agreement with the three joint venture companies during a ceremony held recently to mark this latest milestone on Diriyah s development journey including a series of other major project announcements made during the first quarter of 2025. The Royal Diriyah Opera House will become Diriyah s flagship performing arts venue and a major architectural landmark ...
Forbes Middle East has revealed its 2025 ranking of the region s 100 Most Impactful Real Estate Leaders spotlighting the developers and decision-makers transforming the region s skylines. The list was compiled based on each leader s years of experience the value of completed and ongoing projects company financials including total assets and revenues where available and the size of landbanks and number of units held. The UAE dominates this year s ranking with 42 leaders of companies headquartered in the country followed by Saudi Arabia with 21 entries and Egypt with 16. Claiming the top spot is Hussain Sajwani Founder and Chairman of Damac Properties. In February 2025 Damac had announced the pricing and settlement of its 750 million senior unsecured three-and-a-half-year Reg S Sukuk its largest to date. /div...
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Forbes Middle East has revealed its 2025 ranking of the region s 100 Most Impactful Real Estate Leaders spotlighting the developers and decision-makers transforming the region s skylines. The list was compiled based on each leader s years of experience the value of completed and ongoing projects company financials including total assets and revenues where available and the size of landbanks and number of units held. The UAE dominates this year s ranking with 42 leaders of companies headquartered in the country followed by Saudi Arabia with 21 entries and Egypt with 16. Claiming the top spot is Hussain Sajwani Founder and Chairman of Damac Properties. In February 2025 Damac had announced the pricing and settlement of its 750 million senior unsecured three-and-a-half-year Reg S Sukuk its largest to date. /div...
Saudi Arabia s retail real estate sector is undergoing a transformation driven by the country s Vision 2030 initiative economic diversification efforts and an evolving consumer landscape. The outlook for 2025-2026 remains optimistic with strong demand anticipated due to factors such as population growth increasing tourism and changing consumer preferences according to top ratings agency S&P Global. The growth path for retail real estate in Saudi Arabia is looking good for 2025-26. However the sector is also facing challenges including oversupply risks and evolving retail formats that could weigh on rental rates and real estate landlords profitability amid high capital spending said the ratings agency. Additionally lower oil prices and market volatility amid escalating global trade tensions and a fragmented...
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Saudi Arabia s retail real estate sector is undergoing a transformation driven by the country s Vision 2030 initiative economic diversification efforts and an evolving consumer landscape. The outlook for 2025-2026 remains optimistic with strong demand anticipated due to factors such as population growth increasing tourism and changing consumer preferences according to top ratings agency S&P Global. The growth path for retail real estate in Saudi Arabia is looking good for 2025-26. However the sector is also facing challenges including oversupply risks and evolving retail formats that could weigh on rental rates and real estate landlords profitability amid high capital spending said the ratings agency. Additionally lower oil prices and market volatility amid escalating global trade tensions and a fragmented...
Women investors are playing a major role in Dubai s real estate sector with contributions worth AED118 billion ( 32 billion) in 2024 through over 50 979 property transactions according to a government official. Women now represent 34% of total real estate investors in Dubai reflecting a growing trend toward long-term stable investment said Majida Ali Rashid CEO of the Real Estate Development Sector at Dubai Land Department (DLD) while speaking to Wam . She noted that women possess strategic vision and leadership capabilities positioning them as key players in shaping the future of the real estate market and contributing to Dubai s economic and social goals under the D33 economic agenda and the Dubai Real Estate Strategy 2033. Rashid said upcoming phases will focus on expanding policies that support women in real estate through investment incentives advis...
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Women investors are playing a major role in Dubai s real estate sector with contributions worth AED118 billion ( 32 billion) in 2024 through over 50 979 property transactions according to a government official. Women now represent 34% of total real estate investors in Dubai reflecting a growing trend toward long-term stable investment said Majida Ali Rashid CEO of the Real Estate Development Sector at Dubai Land Department (DLD) while speaking to Wam . She noted that women possess strategic vision and leadership capabilities positioning them as key players in shaping the future of the real estate market and contributing to Dubai s economic and social goals under the D33 economic agenda and the Dubai Real Estate Strategy 2033. Rashid said upcoming phases will focus on expanding policies that support women in real estate through investment incentives advis...
Noatum Logistics an AD Ports Group company and a leading global logistics management services provider has acquired 152 long-haul transport trucks from Mercedes Benz to enhance its freight forwarding operations in the Middle East. The fleet expansion comes in response to Noatum Logistics robust growth trajectory and strategic focus on managing customers supply chains across the region while advancing its commitment to environmental sustainability the company said. The Mercedes Benz Actros advanced trucks will boost Noatum Logistics regional transport capacity by 6 000 tonnes and grow its fleet from approximately 450 vehicles to over 600. While capable of handling containerised reefer and loose cargo the vehicles will support customers across key industry sectors including energy polymers food & FMCG automotive pharma & healthcare and defence. ...
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Noatum Logistics an AD Ports Group company and a leading global logistics management services provider has acquired 152 long-haul transport trucks from Mercedes Benz to enhance its freight forwarding operations in the Middle East. The fleet expansion comes in response to Noatum Logistics robust growth trajectory and strategic focus on managing customers supply chains across the region while advancing its commitment to environmental sustainability the company said. The Mercedes Benz Actros advanced trucks will boost Noatum Logistics regional transport capacity by 6 000 tonnes and grow its fleet from approximately 450 vehicles to over 600. While capable of handling containerised reefer and loose cargo the vehicles will support customers across key industry sectors including energy polymers food & FMCG automotive pharma & healthcare and defence. ...
Jebel Ali Free Zone (Jafza) is strengthening its position with a strategic investment of AED90 million ( 25 million) in Phase Two of its cutting-edge Logistics Park. Adding 360 000 square feet of Grade-A facilities the expansion aligns with the UAE s push to grow its logistics sector to AED200 billion annually in the next seven years and cements Dubai s role in international trade. The second phase delivers world-class infrastructure including modern offices customisable units temperature-controlled warehouses loading docks and enhanced power capacity to support diverse industries. Abdulla Al Hashmi Chief Operating Officer of Parks & Zones at DP World GCC said: The expansion of Jafza Logistics Park reflects our commitment to helping businesses compete globally and simultaneously drive foreign investment into Dubai. ...
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Jebel Ali Free Zone (Jafza) is strengthening its position with a strategic investment of AED90 million ( 25 million) in Phase Two of its cutting-edge Logistics Park. Adding 360 000 square feet of Grade-A facilities the expansion aligns with the UAE s push to grow its logistics sector to AED200 billion annually in the next seven years and cements Dubai s role in international trade. The second phase delivers world-class infrastructure including modern offices customisable units temperature-controlled warehouses loading docks and enhanced power capacity to support diverse industries. Abdulla Al Hashmi Chief Operating Officer of Parks & Zones at DP World GCC said: The expansion of Jafza Logistics Park reflects our commitment to helping businesses compete globally and simultaneously drive foreign investment into Dubai. ...
The real estate market in Ras Al Khaimah has witnessed unprecedented growth with transaction volumes skyrocketing by nearly 25 000% over the past seven years according to the latest data from the Ras Al Khaimah Statistics Centre. The total value of real estate transactions in June 2024 reached an astonishing AED2.53 billion ( 688 million) - an exponential leap from just AED10 million ( 2.72 million) in June 2017. Similarly mortgage values have soared recording AED3.47 billion in July 2024 compared to AED15.8 million in July 2017 - an unprecedented increase of approximately 21 849%. This surge underscores the growing investor confidence and the emirate s rising prominence as a real estate powerhouse said Andrei Charapenak the CEO of Major Developers a leading developer in Ras Al Khaimah. Ras Al Khaimah is no longer an emergi...
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The real estate market in Ras Al Khaimah has witnessed unprecedented growth with transaction volumes skyrocketing by nearly 25 000% over the past seven years according to the latest data from the Ras Al Khaimah Statistics Centre. The total value of real estate transactions in June 2024 reached an astonishing AED2.53 billion ( 688 million) - an exponential leap from just AED10 million ( 2.72 million) in June 2017. Similarly mortgage values have soared recording AED3.47 billion in July 2024 compared to AED15.8 million in July 2017 - an unprecedented increase of approximately 21 849%. This surge underscores the growing investor confidence and the emirate s rising prominence as a real estate powerhouse said Andrei Charapenak the CEO of Major Developers a leading developer in Ras Al Khaimah. Ras Al Khaimah is no longer an emergi...
Marriott International has signed an agreement with Mullen Real Estate Capital to bring the JW Marriott brand to the shores of Costa Elena an exclusive resort-residential community located in Guanacaste Costa Rica. The hotel is expected to be one of the first JW Marriott all-inclusive resorts to open globally highlighting the company s commitment to redefining luxury all-inclusive experiences by integrating the brand s signature focus on mindfulness exceptional service and sophisticated design. We are thrilled to expand our presence in Costa Rica with the introduction of one of the first JW Marriott All-Inclusive Resorts said Uriel Burak Marriott International Vice President Development Caribbean and Latin America (CALA). This project marks the beginning of a strategic collaboration with Mullen Real Estate Capital a pioneer in the all-inclusive sector within the CALA region...
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Marriott International has signed an agreement with Mullen Real Estate Capital to bring the JW Marriott brand to the shores of Costa Elena an exclusive resort-residential community located in Guanacaste Costa Rica. The hotel is expected to be one of the first JW Marriott all-inclusive resorts to open globally highlighting the company s commitment to redefining luxury all-inclusive experiences by integrating the brand s signature focus on mindfulness exceptional service and sophisticated design. We are thrilled to expand our presence in Costa Rica with the introduction of one of the first JW Marriott All-Inclusive Resorts said Uriel Burak Marriott International Vice President Development Caribbean and Latin America (CALA). This project marks the beginning of a strategic collaboration with Mullen Real Estate Capital a pioneer in the all-inclusive sector within the CALA region...
Bridging the UAE s science technology engineering and mathematics (STEM) skills gap to meet the ambitions of UAE Vision 2031 will form a key conference theme at the region s leading maritime and logistics show Seatrade Maritime Logistics Middle East. The flagship event takes place during the upcoming UAE Maritime Week from May 5 to 9 held under the patronage of the UAE Ministry of Energy and Infrastructure and is organised by Seatrade Maritime part of Informa Markets. The region s move away from dependence on oil and gas towards a high-growth knowledge economy in line with the Vision 2031 goals is creating unprecedented demand for new skills particularly in STEM areas such as artificial intelligence smart technology and renewable energy. In acknowledgement of this and with the UAE rapidly solidifying its position as a global maritime hub ...
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Bridging the UAE s science technology engineering and mathematics (STEM) skills gap to meet the ambitions of UAE Vision 2031 will form a key conference theme at the region s leading maritime and logistics show Seatrade Maritime Logistics Middle East. The flagship event takes place during the upcoming UAE Maritime Week from May 5 to 9 held under the patronage of the UAE Ministry of Energy and Infrastructure and is organised by Seatrade Maritime part of Informa Markets. The region s move away from dependence on oil and gas towards a high-growth knowledge economy in line with the Vision 2031 goals is creating unprecedented demand for new skills particularly in STEM areas such as artificial intelligence smart technology and renewable energy. In acknowledgement of this and with the UAE rapidly solidifying its position as a global maritime hub ...
FTI Consulting a leading global expert firm for organisations facing crisis and transformation has announced the addition of Adrian Predoi as its managing director in the firm s construction projects and assets practice within the Forensic and Litigation Consulting segment in Saudi Arabia. Predoi s appointment marks the continued expansion of the firm s construction advisory and transformation offering across Europe the Middle East and Africa (EMEA). In his role at FTI Consulting Predoi will lead the Advisory and Transformation practice in the Middle East providing strategic advice to asset-intensive organisations. He will also support clients in successfully delivering capital project portfolios that align with their strategic operational and business goals. Adrian s arrival to our market-leading con...
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FTI Consulting a leading global expert firm for organisations facing crisis and transformation has announced the addition of Adrian Predoi as its managing director in the firm s construction projects and assets practice within the Forensic and Litigation Consulting segment in Saudi Arabia. Predoi s appointment marks the continued expansion of the firm s construction advisory and transformation offering across Europe the Middle East and Africa (EMEA). In his role at FTI Consulting Predoi will lead the Advisory and Transformation practice in the Middle East providing strategic advice to asset-intensive organisations. He will also support clients in successfully delivering capital project portfolios that align with their strategic operational and business goals. Adrian s arrival to our market-leading con...
The Saudi construction market is experiencing a major transformation driven by the ambitious goals of Vision 2030. The kingdom aims to diversify its economy and reduce its reliance on oil with 24 transformative mega and giga-projects at the forefront of this shift. Outstanding developments such as Neom the Diriyah Project Jeddah Central and King Salman International Airport are not only reshaping the country s infrastructure but also creating significant opportunities in sectors like tourism technology and entertainment according to a report by ResearchAndMarkets. These large-scale projects are critical to realizing Vision 2030 as they generate jobs attract foreign investment and position Saudi Arabia as a global leader in innovation and sustainability. The construction market is booming offering local and international businesses and subcontractors new oppo...
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The Saudi construction market is experiencing a major transformation driven by the ambitious goals of Vision 2030. The kingdom aims to diversify its economy and reduce its reliance on oil with 24 transformative mega and giga-projects at the forefront of this shift. Outstanding developments such as Neom the Diriyah Project Jeddah Central and King Salman International Airport are not only reshaping the country s infrastructure but also creating significant opportunities in sectors like tourism technology and entertainment according to a report by ResearchAndMarkets. These large-scale projects are critical to realizing Vision 2030 as they generate jobs attract foreign investment and position Saudi Arabia as a global leader in innovation and sustainability. The construction market is booming offering local and international businesses and subcontractors new oppo...
The construction sector in the GCC is undergoing rapid transformation driven by large-scale infrastructure real estate and commercial projects. And with billions of dollars invested in smart cities transport networks and urban developments efficiency and cost control are more critical than ever. Yet one of the most significant but often overlooked challenges is construction rework the need to redo or correct work due to defects errors or poor planning according to Ibrahim Imam the Co-Founder of PlanRadar a leading construction and real estate management software company with operations in over 75 markets across the globe. Headquartered in Vienna Austria PlanRadar is an award-winning digital SaaS platform for documentation task management and communication in construction and real estate projects. On Rework Imam said it is...
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The construction sector in the GCC is undergoing rapid transformation driven by large-scale infrastructure real estate and commercial projects. And with billions of dollars invested in smart cities transport networks and urban developments efficiency and cost control are more critical than ever. Yet one of the most significant but often overlooked challenges is construction rework the need to redo or correct work due to defects errors or poor planning according to Ibrahim Imam the Co-Founder of PlanRadar a leading construction and real estate management software company with operations in over 75 markets across the globe. Headquartered in Vienna Austria PlanRadar is an award-winning digital SaaS platform for documentation task management and communication in construction and real estate projects. On Rework Imam said it is...
SAL Saudi Logistics Services Company has announced that it has signed an agreement with Sela Company to launch a new logistics zone at an investment of SAR4 billion ( 1.1 billion) within the Falcons City project north of Riyadh. Spanning over 1.5 million sq m area the facility will feature high-quality Category A warehouses and storage spaces designed to meet diverse requirements said a statement from SAL Saudi Logistics Services Company. The initiative aligns with their joint efforts to enhance strategic partnerships support the logistics sector and boost the kingdom s position as a global logistics hub in line with Saudi Vision 2030 and the National Transport and Logistics Strategy it stated. The agreement was signed by SAL CEO Omar bin Talal Hariri and Sela Managing Director Rakan Al Harthy at a key ceremony held in the presence of Minister of Investment ...
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SAL Saudi Logistics Services Company has announced that it has signed an agreement with Sela Company to launch a new logistics zone at an investment of SAR4 billion ( 1.1 billion) within the Falcons City project north of Riyadh. Spanning over 1.5 million sq m area the facility will feature high-quality Category A warehouses and storage spaces designed to meet diverse requirements said a statement from SAL Saudi Logistics Services Company. The initiative aligns with their joint efforts to enhance strategic partnerships support the logistics sector and boost the kingdom s position as a global logistics hub in line with Saudi Vision 2030 and the National Transport and Logistics Strategy it stated. The agreement was signed by SAL CEO Omar bin Talal Hariri and Sela Managing Director Rakan Al Harthy at a key ceremony held in the presence of Minister of Investment ...
More than 29 000 new companies operating in the trading and services sector joined the Dubai Chamber of Commerce one of the three chambers operating under the umbrella of Dubai Chambers during 2024. This significant growth reflects the sector s pivotal role in Dubai s economic diversification said the chamber. The construction sector witnessed substantial growth in memberships with 7 434 new companies joining the chamber in 2024 representing an increase of 33% compared to 2023. A total of 23 204 new companies operating in the real estate renting and business services sector joined the chamber last year reflecting annual growth of 8.4% while 5 901 new companies in the transport storage and communication sector joined the chamber an increase of 8.3% over 2023 s figure. The financial intermediation sector also expand...
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More than 29 000 new companies operating in the trading and services sector joined the Dubai Chamber of Commerce one of the three chambers operating under the umbrella of Dubai Chambers during 2024. This significant growth reflects the sector s pivotal role in Dubai s economic diversification said the chamber. The construction sector witnessed substantial growth in memberships with 7 434 new companies joining the chamber in 2024 representing an increase of 33% compared to 2023. A total of 23 204 new companies operating in the real estate renting and business services sector joined the chamber last year reflecting annual growth of 8.4% while 5 901 new companies in the transport storage and communication sector joined the chamber an increase of 8.3% over 2023 s figure. The financial intermediation sector also expand...
Dhruva Consultants a leading tax advisory firm in the Middle East has launched a VAT Guide to simplify tax compliance for UAE s construction sector. Designed as a key industry resource it offers real-world insights that is in sync with Federal Tax Authority (FTA) guidelines. As the UAE s real estate sector continues to expand at an unprecedented pace tax compliance has become a critical challenge for developers contractors property managers and home owners. To provide clarity and practical solutions Dhruva Consultants a leading tax advisory firm in the Middle East has launched an exclusive VAT Guide tailored for the real estate sector. Designed as a first-of-its-kind industry resource the guide simplifies complex VAT regulations offering real-world insights that is in sync with the Federal Tax Authority (FTA) guidelines. ...
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Dhruva Consultants a leading tax advisory firm in the Middle East has launched a VAT Guide to simplify tax compliance for UAE s construction sector. Designed as a key industry resource it offers real-world insights that is in sync with Federal Tax Authority (FTA) guidelines. As the UAE s real estate sector continues to expand at an unprecedented pace tax compliance has become a critical challenge for developers contractors property managers and home owners. To provide clarity and practical solutions Dhruva Consultants a leading tax advisory firm in the Middle East has launched an exclusive VAT Guide tailored for the real estate sector. Designed as a first-of-its-kind industry resource the guide simplifies complex VAT regulations offering real-world insights that is in sync with the Federal Tax Authority (FTA) guidelines. ...
SAL Saudi Logistics Services the leading provider of cargo handling and logistics solutions in the kingdom has signed a partnership agreement with the King Salman Humanitarian Aid and Relief Center (KSRelief) to provide integrated logistics services in support of the center s efforts to deliver humanitarian aid quickly and efficiently to the most in-need regions worldwide. This partnership reflects SAL s commitment to leveraging its expertise and advanced logistics capabilities to ensure the swift and effective delivery of humanitarian aid to remote and affected areas said a statement from SAL. The agreement further strengthens SAL s role in supporting KSRelief s relief operations facilitating transportation storage and customs clearance processes to ensure aid reaches its intended destinations on time it stated. The agreement was signed by Engi...
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SAL Saudi Logistics Services the leading provider of cargo handling and logistics solutions in the kingdom has signed a partnership agreement with the King Salman Humanitarian Aid and Relief Center (KSRelief) to provide integrated logistics services in support of the center s efforts to deliver humanitarian aid quickly and efficiently to the most in-need regions worldwide. This partnership reflects SAL s commitment to leveraging its expertise and advanced logistics capabilities to ensure the swift and effective delivery of humanitarian aid to remote and affected areas said a statement from SAL. The agreement further strengthens SAL s role in supporting KSRelief s relief operations facilitating transportation storage and customs clearance processes to ensure aid reaches its intended destinations on time it stated. The agreement was signed by Engi...
Saudi Arabia s residential market is expected to experience significant growth over the next few years driven by a strong economic foundation rapidly growing population positive demographics and increasing demand for new homes particularly in Riyadh Jeddah and Dammam according to CBRE Middle East the global leader in commercial real estate. This demand is driving prices and rental rates higher a trend that is expected to continue with the value of new residential mortgages in the Kingdom rising 17% year-on-year in 2024 satted CBRE in its latest edition of the Saudi Arabia Real Estate Market Review for Q4 2024. The strong market growth is reflected in rising property values in Riyadh with average prices increasing by over 6% in the past year it added. As new high-quality units enter the market prices are anticipated to continue to rise in 2025. /div...
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Saudi Arabia s residential market is expected to experience significant growth over the next few years driven by a strong economic foundation rapidly growing population positive demographics and increasing demand for new homes particularly in Riyadh Jeddah and Dammam according to CBRE Middle East the global leader in commercial real estate. This demand is driving prices and rental rates higher a trend that is expected to continue with the value of new residential mortgages in the Kingdom rising 17% year-on-year in 2024 satted CBRE in its latest edition of the Saudi Arabia Real Estate Market Review for Q4 2024. The strong market growth is reflected in rising property values in Riyadh with average prices increasing by over 6% in the past year it added. As new high-quality units enter the market prices are anticipated to continue to rise in 2025. /div...
Dubai real estate prices fell by 0.57% in January 2025 the first decline since summer 2022 signalling a market shift towards stabilisation according to leading real estate intelligence authority Property Monitor. While the first month of 2025 was the strongest January on record for transactions with 14 413 sales average prices dropped to AED1 484 per sq ft. Sales volumes were down 4.6% compared to December 2024 stated Property Monitor in its monthly market report. Off plan launches continued to soar in January with 53 launches from 37 developers bringing another 12 400 units to the market. Mortgage transactions also rose 6.8% month on month with 4 134 loans secured. Loan to value (LTV) ratios also held steady despite stricter enforcement of UAE Central Bank regulations it stated.  ...
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Dubai real estate prices fell by 0.57% in January 2025 the first decline since summer 2022 signalling a market shift towards stabilisation according to leading real estate intelligence authority Property Monitor. While the first month of 2025 was the strongest January on record for transactions with 14 413 sales average prices dropped to AED1 484 per sq ft. Sales volumes were down 4.6% compared to December 2024 stated Property Monitor in its monthly market report. Off plan launches continued to soar in January with 53 launches from 37 developers bringing another 12 400 units to the market. Mortgage transactions also rose 6.8% month on month with 4 134 loans secured. Loan to value (LTV) ratios also held steady despite stricter enforcement of UAE Central Bank regulations it stated.  ...
DHL eCommerce a specialist e-commerce logistics and cross-border solutions division of logistics major DHL has entered into an agreement with Ajex Logistics Services to acquire a minority stake in the Saudi parcel logistics company. For DHL eCommerce whose core business is domestic parcel transport in selected European countries the US and certain key Asian countries this agreement represents an expansion into the rapidly growing Saudi e-commerce parcel market said the Germany-based group in its statement. Although Ajex only began its operations in 2021 it has already established itself as a leading parcel service provider in the rapidly evolving domestic market with robust growth and an extensive distribution network it stated. The agreement was signed at a key ceremony held in Riyadh in the presence of Saleh Al Jasser the Minister of Transport and Log...
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DHL eCommerce a specialist e-commerce logistics and cross-border solutions division of logistics major DHL has entered into an agreement with Ajex Logistics Services to acquire a minority stake in the Saudi parcel logistics company. For DHL eCommerce whose core business is domestic parcel transport in selected European countries the US and certain key Asian countries this agreement represents an expansion into the rapidly growing Saudi e-commerce parcel market said the Germany-based group in its statement. Although Ajex only began its operations in 2021 it has already established itself as a leading parcel service provider in the rapidly evolving domestic market with robust growth and an extensive distribution network it stated. The agreement was signed at a key ceremony held in Riyadh in the presence of Saleh Al Jasser the Minister of Transport and Log...
Gulf Warehousing Company (GWC) one of the leading logistics providers in the Mena region has announced the launch of a cutting-edge logistics hub at Ras Laffan dedicated to servicing the country s vital oil and gas industry. This new facility has been developed to support the continued growth and development of Qatar s energy sector particularly with the implementation of the North Field Expansion Project - the world s largest LNG project currently under construction - in line with Qatar National Vision 2030 which prioritises the Optimum exploitation of hydrocarbon resources. The expansive hub boasts an indoor bulk storage warehouse covering more than 5 300 sq m which is fully air-conditioned and with a 25-tonne overhead crane said GWC in a statement. Additionally an indoor racked storage distribution centre (DC) offers thousands of pallet...
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Gulf Warehousing Company (GWC) one of the leading logistics providers in the Mena region has announced the launch of a cutting-edge logistics hub at Ras Laffan dedicated to servicing the country s vital oil and gas industry. This new facility has been developed to support the continued growth and development of Qatar s energy sector particularly with the implementation of the North Field Expansion Project - the world s largest LNG project currently under construction - in line with Qatar National Vision 2030 which prioritises the Optimum exploitation of hydrocarbon resources. The expansive hub boasts an indoor bulk storage warehouse covering more than 5 300 sq m which is fully air-conditioned and with a 25-tonne overhead crane said GWC in a statement. Additionally an indoor racked storage distribution centre (DC) offers thousands of pallet...
Parcel a Hope Ventures portfolio company that has revolutionised delivery services for 3 000 businesses in Bahrain has announced its expansion into Saudi Arabia. Parcel offers businesses a smart alternative to hiring full-time drivers or managing delivery fleets. Through its digital platform the company connects businesses to a network of reliable on-demand drivers providing a more cost-effective and efficient solution than traditional delivery methods said a statement from the company. Since its launch Parcel has been instrumental in supporting Bahrain s local businesses by simplifying their delivery operations helping them grow and saving costs. The platform s success in completing over 1.5 million deliveries highlights its reliability and the strong demand for its tech-driven logistics solutions said its top official. &...
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Parcel a Hope Ventures portfolio company that has revolutionised delivery services for 3 000 businesses in Bahrain has announced its expansion into Saudi Arabia. Parcel offers businesses a smart alternative to hiring full-time drivers or managing delivery fleets. Through its digital platform the company connects businesses to a network of reliable on-demand drivers providing a more cost-effective and efficient solution than traditional delivery methods said a statement from the company. Since its launch Parcel has been instrumental in supporting Bahrain s local businesses by simplifying their delivery operations helping them grow and saving costs. The platform s success in completing over 1.5 million deliveries highlights its reliability and the strong demand for its tech-driven logistics solutions said its top official. &...
Saudi Authority for Industrial Cities and Technology Zones (Modon) in collaboration with the National Center for Privatization & PPP (NCP) has announced the launch of the Expressions of Interest (EOIs) for the Logistics Zone Development in Dammam 2nd Industrial City. Spanning approximately 850 000 sq m area the project is strategically located within Dammam 2nd Industrial City and will serve as a key enabler for trade cross-border connectivity and industrial expansion. The development will include modern logistics facilities warehousing solutions and operate and maintain the infrastructure ensuring seamless integration with both existing and future industrial activities. The site will comprise among other components a gated public area a non-gated public area leasable spaces and a dedicated utilities infrastructure area. This project a Public-Private Partnership (...
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Saudi Authority for Industrial Cities and Technology Zones (Modon) in collaboration with the National Center for Privatization & PPP (NCP) has announced the launch of the Expressions of Interest (EOIs) for the Logistics Zone Development in Dammam 2nd Industrial City. Spanning approximately 850 000 sq m area the project is strategically located within Dammam 2nd Industrial City and will serve as a key enabler for trade cross-border connectivity and industrial expansion. The development will include modern logistics facilities warehousing solutions and operate and maintain the infrastructure ensuring seamless integration with both existing and future industrial activities. The site will comprise among other components a gated public area a non-gated public area leasable spaces and a dedicated utilities infrastructure area. This project a Public-Private Partnership (...
Construction works on Ma aden s Phosphate 3 project with investments estimated at SAR28 billion ( 7.47 billion) was launched on Monday in Wa ad Al Shamal Mining City by Northern Borders Region Governor Prince Faisal bin Khalid bin Sultan bin Abdulaziz. He also launched several development and investment projects at a ceremony attended by Minister of Industry and Mineral Resources Bandar Alkhorayef Vice Minister for Mining Affairs Eng Khalid Al-Mudaifer and several public and private sector officials said a Saudi Press Agency (SPA) report. Supported by the Shareek Program Ma aden s Phosphate 3 project is one of the region s largest mining ventures and aims to increase Saudi Arabia s phosphate production capacity to 9 million tons annually including 3 million tons each from the Phosphate 1 and 2 projects. This expansion will contribute t...
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Construction works on Ma aden s Phosphate 3 project with investments estimated at SAR28 billion ( 7.47 billion) was launched on Monday in Wa ad Al Shamal Mining City by Northern Borders Region Governor Prince Faisal bin Khalid bin Sultan bin Abdulaziz. He also launched several development and investment projects at a ceremony attended by Minister of Industry and Mineral Resources Bandar Alkhorayef Vice Minister for Mining Affairs Eng Khalid Al-Mudaifer and several public and private sector officials said a Saudi Press Agency (SPA) report. Supported by the Shareek Program Ma aden s Phosphate 3 project is one of the region s largest mining ventures and aims to increase Saudi Arabia s phosphate production capacity to 9 million tons annually including 3 million tons each from the Phosphate 1 and 2 projects. This expansion will contribute t...
Oman s The Public Authority for Special Economic Zones and Free Zones (OPAZ) announced today (February 17) the launch of the third package tender for the development of Economic Zone at Al Dhahira (EZAD). The scope of work includes construction of 4-sq-km-long dry port facilities and a veterinary quarantine. The dry port the main driver of the Economic Zone at Dhahira (EZAD) located near the Omani-Saudi border (Al Rubaa Al Khali) is being developed in collaboration with the Kingdom of Saudi Arabia. According to OPAZ the Phase I of the dry port will be constructed on 1 sq km in addition the tender covering the construction of a veterinary quarantine. For the project OPAZ has invited experienced Omani and Saudi companies to purchase the tender documents and submit their bids before the April 17 deadline. Eng. Ibrahim Yousuf Al Zadjali ...
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Oman s The Public Authority for Special Economic Zones and Free Zones (OPAZ) announced today (February 17) the launch of the third package tender for the development of Economic Zone at Al Dhahira (EZAD). The scope of work includes construction of 4-sq-km-long dry port facilities and a veterinary quarantine. The dry port the main driver of the Economic Zone at Dhahira (EZAD) located near the Omani-Saudi border (Al Rubaa Al Khali) is being developed in collaboration with the Kingdom of Saudi Arabia. According to OPAZ the Phase I of the dry port will be constructed on 1 sq km in addition the tender covering the construction of a veterinary quarantine. For the project OPAZ has invited experienced Omani and Saudi companies to purchase the tender documents and submit their bids before the April 17 deadline. Eng. Ibrahim Yousuf Al Zadjali ...
This year s International Contracting Conference (ICC) held as part of Big 5 Construct Saudi put spotlight on the transformative impact of Vision 2030 as well as innovative construction methods and digital tools for project management said the organisers. The two-day event organised by dmg events in partnership with the Saudi Contractors Authority (SCA) kicked off on the opening day of Big 5 Construct Saudi bringing together senior government officials industry leaders and experts to discuss the future of construction in Saudi Arabia. The 13th edition of Big 5 Construct Saudi was inaugurated by Mohammed Abdulaziz Alajlan Chairman of the Board of Directors of Saudi Contractors Authority (SCA) at the Riyadh Front Exhibition and Conference Center at Roshn Front unveiling its new two-week format designed to meet the increasing market demand and sector-specific growth opportunities within Saudi A...
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This year s International Contracting Conference (ICC) held as part of Big 5 Construct Saudi put spotlight on the transformative impact of Vision 2030 as well as innovative construction methods and digital tools for project management said the organisers. The two-day event organised by dmg events in partnership with the Saudi Contractors Authority (SCA) kicked off on the opening day of Big 5 Construct Saudi bringing together senior government officials industry leaders and experts to discuss the future of construction in Saudi Arabia. The 13th edition of Big 5 Construct Saudi was inaugurated by Mohammed Abdulaziz Alajlan Chairman of the Board of Directors of Saudi Contractors Authority (SCA) at the Riyadh Front Exhibition and Conference Center at Roshn Front unveiling its new two-week format designed to meet the increasing market demand and sector-specific growth opportunities within Saudi A...
The global 3D printing industry in construction is revolutionising the sector and capturing the attention of investors worldwide. With its transformative potential to reduce costs accelerate timelines and enhance sustainability the 3D buildings industry is emerging as a pivotal driver of innovation and economic growth said a top industry expert. 3DXB Group a leader in advanced 3D printing solutions is at the forefront of this exciting evolution leveraging cutting-edge technology to redefine the future of construction. As the demand for cost-efficient eco-friendly and scalable construction solutions surges investors are increasingly recognizing the value proposition of 3D printing in construction. The industry s ability to disrupt traditional building methods coupled with its alignment with sustainability and urbani...
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The global 3D printing industry in construction is revolutionising the sector and capturing the attention of investors worldwide. With its transformative potential to reduce costs accelerate timelines and enhance sustainability the 3D buildings industry is emerging as a pivotal driver of innovation and economic growth said a top industry expert. 3DXB Group a leader in advanced 3D printing solutions is at the forefront of this exciting evolution leveraging cutting-edge technology to redefine the future of construction. As the demand for cost-efficient eco-friendly and scalable construction solutions surges investors are increasingly recognizing the value proposition of 3D printing in construction. The industry s ability to disrupt traditional building methods coupled with its alignment with sustainability and urbani...
Tasaru Mobility Investments a prominent investment entity wholly owned by the Public Investment Fund (PIF) of Saudi Arabia has launched a strategic joint venture (JV) in collaboration with Bahri the National Shipping Company of Saudi Arabia and Mosolf Group a leading European provider of automotive logistics and technology solutions. This joint venture aims to deliver comprehensive and innovative logistics solutions tailored to meet the needs of the automotive and mobility sectors in Saudi Arabia. It embodies the concept of sustainable logistics innovation by leveraging advanced technologies and developing infrastructure that supports the transformation of the automotive and mobility landscape said a statement. The JV will leverage the strength of all three partners to deliver integrated world-class logistics solutions for the automotive and mobility sectors in Saudi Arabia. These services include shipping transportation electric vehicle handling insp...
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Tasaru Mobility Investments a prominent investment entity wholly owned by the Public Investment Fund (PIF) of Saudi Arabia has launched a strategic joint venture (JV) in collaboration with Bahri the National Shipping Company of Saudi Arabia and Mosolf Group a leading European provider of automotive logistics and technology solutions. This joint venture aims to deliver comprehensive and innovative logistics solutions tailored to meet the needs of the automotive and mobility sectors in Saudi Arabia. It embodies the concept of sustainable logistics innovation by leveraging advanced technologies and developing infrastructure that supports the transformation of the automotive and mobility landscape said a statement. The JV will leverage the strength of all three partners to deliver integrated world-class logistics solutions for the automotive and mobility sectors in Saudi Arabia. These services include shipping transportation electric vehicle handling insp...
DP World has announced that it has reached a major milestone in the development of the Sokhna Logistics Park in Egypt with 65% of the first phase now already completed. Spanning 300 000 sqm the facility is designed to provide cost-effective integrated supply chain solutions leveraging DP World s extensive global network. The park located just 10km away from Sokhna Port offers direct access to Greater Cairo s key markets and major industrial zones. Its strategic location will enable businesses to reduce operational costs and improve efficiency with streamlined cargo movements. Scheduled for completion in June 2025 the park will drive efficiency reduce logistics costs and strengthen connectivity between Egypt the Middle East Africa and beyond it stated. Ranjit Ray Senior Vice President Economic Zones Mena region...
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DP World has announced that it has reached a major milestone in the development of the Sokhna Logistics Park in Egypt with 65% of the first phase now already completed. Spanning 300 000 sqm the facility is designed to provide cost-effective integrated supply chain solutions leveraging DP World s extensive global network. The park located just 10km away from Sokhna Port offers direct access to Greater Cairo s key markets and major industrial zones. Its strategic location will enable businesses to reduce operational costs and improve efficiency with streamlined cargo movements. Scheduled for completion in June 2025 the park will drive efficiency reduce logistics costs and strengthen connectivity between Egypt the Middle East Africa and beyond it stated. Ranjit Ray Senior Vice President Economic Zones Mena region...
Saint-Gobain a leading designer manufacturer and distributor of materials and solutions for the construction and industrial markets has announced that it has completed the acquisition of Fosroc a leading global construction chemicals player with a strong geographic footprint in India the Middle East and Asia-Pacific in particular. Following the acquisitions of Chryso GCP and Ovniver (Cemix brand) this represents another important step in establishing Saint-Gobain s worldwide presence in construction chemicals said the French group in a statement. With this acquisition the company will gain access to newer territories across 76 countries and its combined sales will soar to 6.5 billion said the company in its statement. Fosroc is expected to have generated revenues of 487 million in 2024 with a growth rate of around 11% per year on average since 2021.&nb...
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Saint-Gobain a leading designer manufacturer and distributor of materials and solutions for the construction and industrial markets has announced that it has completed the acquisition of Fosroc a leading global construction chemicals player with a strong geographic footprint in India the Middle East and Asia-Pacific in particular. Following the acquisitions of Chryso GCP and Ovniver (Cemix brand) this represents another important step in establishing Saint-Gobain s worldwide presence in construction chemicals said the French group in a statement. With this acquisition the company will gain access to newer territories across 76 countries and its combined sales will soar to 6.5 billion said the company in its statement. Fosroc is expected to have generated revenues of 487 million in 2024 with a growth rate of around 11% per year on average since 2021.&nb...
Bahrain and Saudi Arabia are set to give a fresh boost to their investment co-operation with the establishment of a joint venture company that will cater to the construction materials need in the region. This new venture is in line with the strategic goals of Bahrain s Economic Vision 2030 reported the Gulf Daily News our sister publication citing senior officials. For further details visit https://www.gdnonline.com ...
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Bahrain and Saudi Arabia are set to give a fresh boost to their investment co-operation with the establishment of a joint venture company that will cater to the construction materials need in the region. This new venture is in line with the strategic goals of Bahrain s Economic Vision 2030 reported the Gulf Daily News our sister publication citing senior officials. For further details visit https://www.gdnonline.com ...
Emsteel one of the largest publicly traded steel and building materials manufacturers in the region has forged strategic partnerships to pioneer streamlined raw material transport and cross-border rail connectivity in the GCC while fostering economic collaboration between the UAE and Oman. The landmark agreements highlight a shared commitment to efficient sustainable transportation of raw materials critical to Emsteel s cement production while also aligning with the UAE s Operation 300bn strategy and Oman s Vision 2040. The primary agreement signed with Hafeet Rail Infrastructure the region s first cross-border rail network connecting the Sultanate of Oman and the UAE highlights how Emsteel and Hafeet Rail will collaborate closely to undertake specific roles and responsibilities. As per this partnership Hafeet Rail will develop an integr...
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Emsteel one of the largest publicly traded steel and building materials manufacturers in the region has forged strategic partnerships to pioneer streamlined raw material transport and cross-border rail connectivity in the GCC while fostering economic collaboration between the UAE and Oman. The landmark agreements highlight a shared commitment to efficient sustainable transportation of raw materials critical to Emsteel s cement production while also aligning with the UAE s Operation 300bn strategy and Oman s Vision 2040. The primary agreement signed with Hafeet Rail Infrastructure the region s first cross-border rail network connecting the Sultanate of Oman and the UAE highlights how Emsteel and Hafeet Rail will collaborate closely to undertake specific roles and responsibilities. As per this partnership Hafeet Rail will develop an integr...
Dubai s real estate market has made a strong start to 2025 with property sales in January surging to hit AED44.4 billion ( 12 billion) up 24.1% in value over last year according to UAE-based fäm Properties. Land sales for January showed the biggest increase with 811 plots - a 151.9% month-on-month leap in volume - selling for AED8.6 billion. A market update from fäm Properties reveals that last month s total of 14 236 transactions also represented a 23.2% increase in volume over January 2024. Villa sales totalling AED16.4 billion also climbed sharply in volume by 89.6% to 3 117 compared with January last year and apartment sales worth AED18.2 billion were up 7.1% in volume to 9 945 stated the report. A total of 363 commercial property transactions amounting to AED1.2 billion represented a 17.9% increase in volume over Jan...
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Dubai s real estate market has made a strong start to 2025 with property sales in January surging to hit AED44.4 billion ( 12 billion) up 24.1% in value over last year according to UAE-based fäm Properties. Land sales for January showed the biggest increase with 811 plots - a 151.9% month-on-month leap in volume - selling for AED8.6 billion. A market update from fäm Properties reveals that last month s total of 14 236 transactions also represented a 23.2% increase in volume over January 2024. Villa sales totalling AED16.4 billion also climbed sharply in volume by 89.6% to 3 117 compared with January last year and apartment sales worth AED18.2 billion were up 7.1% in volume to 9 945 stated the report. A total of 363 commercial property transactions amounting to AED1.2 billion represented a 17.9% increase in volume over Jan...
Arabian Contracting Services Company has announced the signing of a long-term credit facility agreement (sharia compliance) with the Saudi Awwal Bank (SAB) amounting to SAR972 million ( 259 million). The credit facility is for a 8-year period and its proceeds will be used for refinancing the acquisition loan to Faden Media said Arabian Contracting Services in its filing to Saudi bourse Tadawul. This is in alignment with the company s strategy to reduce the finance cost and increase the profitability it stated. This also involves settling outstanding debts with other banks said the company in its bourse filing. Additionally Arabian Contracting Services said it is focused on enhancing profitability and minimising costs aligning with its strategic financial direction to ensure the company remains in a strong and effective position.&nbs...
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Arabian Contracting Services Company has announced the signing of a long-term credit facility agreement (sharia compliance) with the Saudi Awwal Bank (SAB) amounting to SAR972 million ( 259 million). The credit facility is for a 8-year period and its proceeds will be used for refinancing the acquisition loan to Faden Media said Arabian Contracting Services in its filing to Saudi bourse Tadawul. This is in alignment with the company s strategy to reduce the finance cost and increase the profitability it stated. This also involves settling outstanding debts with other banks said the company in its bourse filing. Additionally Arabian Contracting Services said it is focused on enhancing profitability and minimising costs aligning with its strategic financial direction to ensure the company remains in a strong and effective position.&nbs...
Having developed the GCC region s first-ever Sustainable Construction Code the Gulf Organisation for Research & Development (GORD) - a subsidiary of Qatari Diar Real estate Investment Company - has signed an agreement with the GCC Standardization Organization (GSO) for integrating the code into the wider Gulf Building Code. The Gulf Building Code endorsed by the Ministries of Municipalities and Urban Planning in GCC serves as a comprehensive framework guiding building and construction practices across the region. The newly-developed Sustainable Construction Code created by experts at GORD - headquartered at Qatar Science &Technology Park- draws on the success of its flagship Global Sustainability Assessment System (GSAS) developed as the first performance-based green buildings rating system in Mena region will significantly contribute to the Gulf s transition to more sustainable...
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Having developed the GCC region s first-ever Sustainable Construction Code the Gulf Organisation for Research & Development (GORD) - a subsidiary of Qatari Diar Real estate Investment Company - has signed an agreement with the GCC Standardization Organization (GSO) for integrating the code into the wider Gulf Building Code. The Gulf Building Code endorsed by the Ministries of Municipalities and Urban Planning in GCC serves as a comprehensive framework guiding building and construction practices across the region. The newly-developed Sustainable Construction Code created by experts at GORD - headquartered at Qatar Science &Technology Park- draws on the success of its flagship Global Sustainability Assessment System (GSAS) developed as the first performance-based green buildings rating system in Mena region will significantly contribute to the Gulf s transition to more sustainable...
The UAE Cabinet has approved the establishment of the UAE Logistics Integration Council aimed at aligning efforts and ensuring seamless coordination to strengthen the UAE s position as a global trade hub. The council will bring together all key federal and local entities including ports roads transport customs railways and border crossings ensuring efficiency and synergy in the sector said His Highness Sheikh Mohammed bin Rashid Al Maktoum Vice President Prime Minister and Ruler of Dubai who chaired the cabinet s meeting held at Qasr Al Watan Abu Dhabi a Wam news agency report quoted. With the logistics industry valued at AED 129 billion in 2023 our goal is to expand it beyond AED200 billion over the next seven years reinforcing the UAE s role as a central hub for global trade and commerce he said. HH Sheikh Mohammed bin Rashid s...
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The UAE Cabinet has approved the establishment of the UAE Logistics Integration Council aimed at aligning efforts and ensuring seamless coordination to strengthen the UAE s position as a global trade hub. The council will bring together all key federal and local entities including ports roads transport customs railways and border crossings ensuring efficiency and synergy in the sector said His Highness Sheikh Mohammed bin Rashid Al Maktoum Vice President Prime Minister and Ruler of Dubai who chaired the cabinet s meeting held at Qasr Al Watan Abu Dhabi a Wam news agency report quoted. With the logistics industry valued at AED 129 billion in 2023 our goal is to expand it beyond AED200 billion over the next seven years reinforcing the UAE s role as a central hub for global trade and commerce he said. HH Sheikh Mohammed bin Rashid s...
Saudi Arabia s National Housing Company (NHC) has signed a series of agreements deals and memoranda of understanding (MoUs) with government entities and private sector companies worth SAR30 billion ( 8 billion) on the opening of the Real Estate Future Forum 2025 in Riyadh. These agreements were inked in the presence of Minister of Municipalities and Housing Majed Al Hogail and Minister of Industry and Mineral Resources Bandar Alkhorayef. These included a MoU with King Abdulaziz City for Science and Technology (KACST) in collaboration with Al Saif Company to advance construction development through off-site construction technologies said NHC in a statement. Another MoU was with the Ministry of Industry and Mineral Resources to enhance collaboration in supply chains and the Industrial Links Program aiming to increase local content and improve efficiency in the real esta...
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Saudi Arabia s National Housing Company (NHC) has signed a series of agreements deals and memoranda of understanding (MoUs) with government entities and private sector companies worth SAR30 billion ( 8 billion) on the opening of the Real Estate Future Forum 2025 in Riyadh. These agreements were inked in the presence of Minister of Municipalities and Housing Majed Al Hogail and Minister of Industry and Mineral Resources Bandar Alkhorayef. These included a MoU with King Abdulaziz City for Science and Technology (KACST) in collaboration with Al Saif Company to advance construction development through off-site construction technologies said NHC in a statement. Another MoU was with the Ministry of Industry and Mineral Resources to enhance collaboration in supply chains and the Industrial Links Program aiming to increase local content and improve efficiency in the real esta...
In a major move the Saudi Capital Market Authority (CMA) has granted foreign investors permission to invest in Saudi-listed companies that own real estate within the cities of Makkah and Madinah. This initiative is aimed at fostering investment as well as enhancing the appeal and efficiency of the capital market and bolster its competitiveness both regionally and globally while also supporting the local economy said CMA in a statement. The CMA seeks to attract foreign capital and provide the necessary liquidity for ongoing and future projects in Makkah and Madinah leveraging the Saudi market s vast investment opportunities. These efforts aim to position the Saudi market as a pivotal funding source for significant developmental initiatives in these cities it stated. According to a statement by the CMA the approval perta...
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In a major move the Saudi Capital Market Authority (CMA) has granted foreign investors permission to invest in Saudi-listed companies that own real estate within the cities of Makkah and Madinah. This initiative is aimed at fostering investment as well as enhancing the appeal and efficiency of the capital market and bolster its competitiveness both regionally and globally while also supporting the local economy said CMA in a statement. The CMA seeks to attract foreign capital and provide the necessary liquidity for ongoing and future projects in Makkah and Madinah leveraging the Saudi market s vast investment opportunities. These efforts aim to position the Saudi market as a pivotal funding source for significant developmental initiatives in these cities it stated. According to a statement by the CMA the approval perta...
Kamco Invest one of the largest asset managers in the Middle East and North Africa (MENA) region is partnering with a team led by logistics real estate veteran Ian Worboys to form a new investment and development company European Green Logistics Space (EGLS). Worboys who boasts more than 40 years experience working in the European industrial and logistics market including leadership roles at Gazeley Panattoni P3 Logistic Parks and latterly Trammell Crow Company has co-founded EGLS with Amos Chia former head of acquisitions at pan-European urban logistics platform Crossbay and Glen Lonie former head of asset management for Central & Eastern Europe at Cushman & Wakefield. Worboys is EGLS s Chief Executive Officer Chia is the Chief Investment Officer and Lonie is the Chief Financial Officer. Kamco Invest has acquired a significant ...
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Kamco Invest one of the largest asset managers in the Middle East and North Africa (MENA) region is partnering with a team led by logistics real estate veteran Ian Worboys to form a new investment and development company European Green Logistics Space (EGLS). Worboys who boasts more than 40 years experience working in the European industrial and logistics market including leadership roles at Gazeley Panattoni P3 Logistic Parks and latterly Trammell Crow Company has co-founded EGLS with Amos Chia former head of acquisitions at pan-European urban logistics platform Crossbay and Glen Lonie former head of asset management for Central & Eastern Europe at Cushman & Wakefield. Worboys is EGLS s Chief Executive Officer Chia is the Chief Investment Officer and Lonie is the Chief Financial Officer. Kamco Invest has acquired a significant ...
Modon Holding an Abu Dhabi-based holding company has announced that it has set up a new joint venture with Broadgate REIT an entity owned by the UK-based FTSE 100 listed property developer British Land and GIC a leading global investor to deliver 2 Finsbury Avenue a 750 000 sq ft prime development at Broadgate located in the heart of London. As per the deal Modon will own a 50% stake while British Land and GIC will each retain 25% ownership in the asset going forward through their ownership of Broadgate REIT. The JV marks Modon s first entry into London s prime real estate market. British Land will remain the development and asset manager for the project as the parties combine their development capabilities to deliver the landmark building. The 2 Finsbury Avenue development is a vibrant office-led campus in the heart of the city. Uniquely for London it ...
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Modon Holding an Abu Dhabi-based holding company has announced that it has set up a new joint venture with Broadgate REIT an entity owned by the UK-based FTSE 100 listed property developer British Land and GIC a leading global investor to deliver 2 Finsbury Avenue a 750 000 sq ft prime development at Broadgate located in the heart of London. As per the deal Modon will own a 50% stake while British Land and GIC will each retain 25% ownership in the asset going forward through their ownership of Broadgate REIT. The JV marks Modon s first entry into London s prime real estate market. British Land will remain the development and asset manager for the project as the parties combine their development capabilities to deliver the landmark building. The 2 Finsbury Avenue development is a vibrant office-led campus in the heart of the city. Uniquely for London it ...
AD Ports Group a leading facilitator of global trade logistics and industry has announced the signing of a MoU with the Egyptian Ministry of Industry and Transport to explore joint development and operations an integrated logistics Park in Alexandria. As per the deal AD Ports Group will pursue a collaboration with Holding Company for Maritime and Land Transportation (HCMLT) an affiliate of the Ministry of Transportation of Egypt to explore development management and operation of a 1.1 sq km integrated logistics area at Alexandria Port. Set to be one of the largest logistics hubs on the Mediterranean Sea the port accounts for about 60% of Egypt s foreign trade according to government figures. The deal was inked today (January 23) in Cairo by Ahmed Al Mutawa Regional CEO of AD Ports Group and Amr Ahmed Moustafa Executive Managing Director of HCMLT at a special ...
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AD Ports Group a leading facilitator of global trade logistics and industry has announced the signing of a MoU with the Egyptian Ministry of Industry and Transport to explore joint development and operations an integrated logistics Park in Alexandria. As per the deal AD Ports Group will pursue a collaboration with Holding Company for Maritime and Land Transportation (HCMLT) an affiliate of the Ministry of Transportation of Egypt to explore development management and operation of a 1.1 sq km integrated logistics area at Alexandria Port. Set to be one of the largest logistics hubs on the Mediterranean Sea the port accounts for about 60% of Egypt s foreign trade according to government figures. The deal was inked today (January 23) in Cairo by Ahmed Al Mutawa Regional CEO of AD Ports Group and Amr Ahmed Moustafa Executive Managing Director of HCMLT at a special ...
The construction industry in the UAE and Saudi Arabia is on the verge of a technological and sustainability-driven transformation according to The Construction Pulse a new survey conducted by Versatile International the region s first natural stone project management consultancy. The survey in collaboration with Ipsos in UAE captured insights from 168 senior level professionals at all stages of the construction process ranging from developers architects and designers to project management consultants - revealed that 57% of respondents view Artificial Intelligence (AI) as the most prominent trend shaping the sector in 2025. At the same time 55% of respondents in the survey emphasised sustainability as a key driver of innovation with development projects increasingly incorporating renewable energy and green building certifications. However the findings reveal challenges ahead with 56% of respondents citing labour shortages as ...
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The construction industry in the UAE and Saudi Arabia is on the verge of a technological and sustainability-driven transformation according to The Construction Pulse a new survey conducted by Versatile International the region s first natural stone project management consultancy. The survey in collaboration with Ipsos in UAE captured insights from 168 senior level professionals at all stages of the construction process ranging from developers architects and designers to project management consultants - revealed that 57% of respondents view Artificial Intelligence (AI) as the most prominent trend shaping the sector in 2025. At the same time 55% of respondents in the survey emphasised sustainability as a key driver of innovation with development projects increasingly incorporating renewable energy and green building certifications. However the findings reveal challenges ahead with 56% of respondents citing labour shortages as ...
Kingdom Holding Company (KHC) has announced that construction of the Jeddah Tower a symbol of ambition and progress has officially restarted. Work resumed with the concrete pouring today (January 21) in the presence of Prince Alwaleed bin Talal Chairman of KHC; Eng Talal bin Ibrahim Al Maiman KHC CEO; Sheikh Yaslam bin Laden of Bin Laden Group; Eng Hassan Sharbatly from Qilla Jeddah for Real Estate Investments; and Mohammed Al-Qatari from Abraar International Company Limited said a KHC post on X. Set to become the world s tallest building at over 1 000 m high Jeddah Tower will redefine Jeddah s skyline and position Saudi Arabia as a hub for architectural excellence and economic opportunity it said. Today s ceremony represents the realisation of a vision that took years in the making said Eng Al Maiman. Jeddah Tower will serve as a beac...
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Kingdom Holding Company (KHC) has announced that construction of the Jeddah Tower a symbol of ambition and progress has officially restarted. Work resumed with the concrete pouring today (January 21) in the presence of Prince Alwaleed bin Talal Chairman of KHC; Eng Talal bin Ibrahim Al Maiman KHC CEO; Sheikh Yaslam bin Laden of Bin Laden Group; Eng Hassan Sharbatly from Qilla Jeddah for Real Estate Investments; and Mohammed Al-Qatari from Abraar International Company Limited said a KHC post on X. Set to become the world s tallest building at over 1 000 m high Jeddah Tower will redefine Jeddah s skyline and position Saudi Arabia as a hub for architectural excellence and economic opportunity it said. Today s ceremony represents the realisation of a vision that took years in the making said Eng Al Maiman. Jeddah Tower will serve as a beac...
ASAS Real Estate a subsidiary of Sharjah Islamic Bank has launched sales of phase two of the Sajaa Industrial Lands project located in Sharjah s Sajaa Industrial Area. The project offers freehold ownership for UAE nationals GCC citizens and Arab residents in the UAE with flexible payment plans extending up to 24 months said a report by Wam news agency. Ahmed Al Ameri General Manager of ASAS Real Estate stated that phase two builds on the success and demand seen during phase one in late 2024. He highlighted the company s commitment to providing competitive investment opportunities for individuals and businesses offering lucrative returns aligned with the growth of the UAE s real estate sector. The initiative aims to foster economic diversification and support Sharjah s industrial development by empowering private-sector participation and enabling in...
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ASAS Real Estate a subsidiary of Sharjah Islamic Bank has launched sales of phase two of the Sajaa Industrial Lands project located in Sharjah s Sajaa Industrial Area. The project offers freehold ownership for UAE nationals GCC citizens and Arab residents in the UAE with flexible payment plans extending up to 24 months said a report by Wam news agency. Ahmed Al Ameri General Manager of ASAS Real Estate stated that phase two builds on the success and demand seen during phase one in late 2024. He highlighted the company s commitment to providing competitive investment opportunities for individuals and businesses offering lucrative returns aligned with the growth of the UAE s real estate sector. The initiative aims to foster economic diversification and support Sharjah s industrial development by empowering private-sector participation and enabling in...
DHL Express the world s leading express and logistics provider has inaugurated a cutting-edge logistics facility at Muscat International Airport in Oman. The milestone was marked by an official ceremony attended by Sayyid Tarik bin Shabib bin Taimur Al Said distinguished guests and key industry leaders. Over the past two decades DHL Express has invested more than 30 million ( 30.81 million) in developing this state-of-the-art facility which spans a total area of 12 621 sq m with a built-up space of 8 074 sq m. The facility houses a ground operations hub an import/export gateway and a regional office with the capacity to process approximately 2 400 shipments per hour while serving more than 4 200 customers. Abdulaziz Busbate CEO of DHL Express MENA stated: This facility is the latest addition to DHL s growing infrastructure and a strategic i...
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DHL Express the world s leading express and logistics provider has inaugurated a cutting-edge logistics facility at Muscat International Airport in Oman. The milestone was marked by an official ceremony attended by Sayyid Tarik bin Shabib bin Taimur Al Said distinguished guests and key industry leaders. Over the past two decades DHL Express has invested more than 30 million ( 30.81 million) in developing this state-of-the-art facility which spans a total area of 12 621 sq m with a built-up space of 8 074 sq m. The facility houses a ground operations hub an import/export gateway and a regional office with the capacity to process approximately 2 400 shipments per hour while serving more than 4 200 customers. Abdulaziz Busbate CEO of DHL Express MENA stated: This facility is the latest addition to DHL s growing infrastructure and a strategic i...
Alta Real Estate Development has unveiled Mr C Residences Downtown marking the second Mr C property in Dubai. The project is part of Alta s continued partnership with Ignazio and Maggio Cipriani representing a modern interpretation of the family s nearly century-long legacy in hospitality. Inspired by the dynamic energy of Dubai and its stunning skyline Mr C Residences Downtown celebrates Dubai s modern spirit while infusing it with the warm personalised service for which Mr C is renowned. Mr C created by brothers Ignazio and Maggio members of the fourth generation of the Cipriani family is known globally for its portfolio of hotels restaurants and residences. Since its first Mr C Hotel opened in Beverly Hills California in June 2011 Mr C has been setting a new era in timeless yet contemporary hospitality with Mr C Miami Coconut Grove ...
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Alta Real Estate Development has unveiled Mr C Residences Downtown marking the second Mr C property in Dubai. The project is part of Alta s continued partnership with Ignazio and Maggio Cipriani representing a modern interpretation of the family s nearly century-long legacy in hospitality. Inspired by the dynamic energy of Dubai and its stunning skyline Mr C Residences Downtown celebrates Dubai s modern spirit while infusing it with the warm personalised service for which Mr C is renowned. Mr C created by brothers Ignazio and Maggio members of the fourth generation of the Cipriani family is known globally for its portfolio of hotels restaurants and residences. Since its first Mr C Hotel opened in Beverly Hills California in June 2011 Mr C has been setting a new era in timeless yet contemporary hospitality with Mr C Miami Coconut Grove ...
Kuwait Real Estate Company (Aqarat) a leading real estate firm listed on the Kuwait Stock Exchange in collaboration with IFA Hotels and Resorts has launched the Al Tay Hills project in the UAE emirate of Sharjah. The project with a total cost of AED3.5 billion ( 952.9 million) spans over 6 million sq ft and includes 1 100 villas and townhouses with diverse designs and sizes to meet various client needs. The units range from three to six bedrooms each featuring private pools and modern designs that combine luxury and comfort and will be developed in three phases. The first phase of the project is scheduled for delivery in the first quarter of 2028 reflecting the company s commitment to delivering high-quality projects that enhance its position in the real estate market Aqarat said. Strategic location /strong...
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Kuwait Real Estate Company (Aqarat) a leading real estate firm listed on the Kuwait Stock Exchange in collaboration with IFA Hotels and Resorts has launched the Al Tay Hills project in the UAE emirate of Sharjah. The project with a total cost of AED3.5 billion ( 952.9 million) spans over 6 million sq ft and includes 1 100 villas and townhouses with diverse designs and sizes to meet various client needs. The units range from three to six bedrooms each featuring private pools and modern designs that combine luxury and comfort and will be developed in three phases. The first phase of the project is scheduled for delivery in the first quarter of 2028 reflecting the company s commitment to delivering high-quality projects that enhance its position in the real estate market Aqarat said. Strategic location /strong...
Opteam an innovative AI-driven construction management software has announced that it has successfully closed its pre-seed round for an undisclosed amount from Plus VC a leading venture capital firm in MENA. Other strategic investors who participated in the round are Dar Ventures the VC arm of Dar SIAC Ventures the VC arm of SIAC Construction and Oraseya Capital the VC fund of Dubai Integrated Economic Zones Authority. Established in 2020 Opteam was founded by Dr Tarek Hegazy a professor and researcher with 20 years of experience in advanced computational project management for construction and his son Ahmed Hegazy a software sales executive. Opteam is a first-of-its-kind solution designed to improve how construction companies manage their data and reduce the time it takes to strategise from weeks to minutes. The software combines advanced data analytics mobile ...
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Opteam an innovative AI-driven construction management software has announced that it has successfully closed its pre-seed round for an undisclosed amount from Plus VC a leading venture capital firm in MENA. Other strategic investors who participated in the round are Dar Ventures the VC arm of Dar SIAC Ventures the VC arm of SIAC Construction and Oraseya Capital the VC fund of Dubai Integrated Economic Zones Authority. Established in 2020 Opteam was founded by Dr Tarek Hegazy a professor and researcher with 20 years of experience in advanced computational project management for construction and his son Ahmed Hegazy a software sales executive. Opteam is a first-of-its-kind solution designed to improve how construction companies manage their data and reduce the time it takes to strategise from weeks to minutes. The software combines advanced data analytics mobile ...
Emirates Global Aluminium (EGA) the largest industrial company in the UAE outside oil and gas and the biggest premium aluminium producer in the world today announced the completion of civil works for the expansion project at the company s US recycling firm Spectro Alloys. The expansion project adds 55 000 tonnes of secondary billet production in the first phase with first hot metal expected early in the second half of 2025. Full production ramp-up is expected in the first quarter of 2026. EGA completed the acquisition of 80 per cent of Spectro Alloys in September 2024. The acquisition accelerated EGA s global expansion into aluminium recycling and expanded EGA s business in the US which is already one of EGA s largest global markets. Spectro Alloys is a leading secondary foundry alloy producer in Rosemount Minnesota. The company currently ...
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Emirates Global Aluminium (EGA) the largest industrial company in the UAE outside oil and gas and the biggest premium aluminium producer in the world today announced the completion of civil works for the expansion project at the company s US recycling firm Spectro Alloys. The expansion project adds 55 000 tonnes of secondary billet production in the first phase with first hot metal expected early in the second half of 2025. Full production ramp-up is expected in the first quarter of 2026. EGA completed the acquisition of 80 per cent of Spectro Alloys in September 2024. The acquisition accelerated EGA s global expansion into aluminium recycling and expanded EGA s business in the US which is already one of EGA s largest global markets. Spectro Alloys is a leading secondary foundry alloy producer in Rosemount Minnesota. The company currently ...
The UAE s ever-evolving real estate market stands at the brink of a major evolution as various trends and practices continue to reshape the market landscape. The market is projected to experience a transformative shift especially with the emergence of cutting-edge technologies such as artificial intelligence (AI) 3D printing and smart home innovations a steady annual growth rate of 2.25 per cent is expected between 2024 and 2029 resulting in a market volume of 0.76 trillion by the latter year further solidifying UAE s position as a global leader writes Ajay Bhatia Founder and CEO of SOL Properties. As the market becomes more influenced by technological developments it is expected to redefine conventional property development management and transactions paving the way for an efficient sustainable customer-centric and investor-friendly ecosystem. These changes further position the UA...
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The UAE s ever-evolving real estate market stands at the brink of a major evolution as various trends and practices continue to reshape the market landscape. The market is projected to experience a transformative shift especially with the emergence of cutting-edge technologies such as artificial intelligence (AI) 3D printing and smart home innovations a steady annual growth rate of 2.25 per cent is expected between 2024 and 2029 resulting in a market volume of 0.76 trillion by the latter year further solidifying UAE s position as a global leader writes Ajay Bhatia Founder and CEO of SOL Properties. As the market becomes more influenced by technological developments it is expected to redefine conventional property development management and transactions paving the way for an efficient sustainable customer-centric and investor-friendly ecosystem. These changes further position the UA...
Saudi Arabia s View United Real Estate Development Company has signed a SAR164-million ( 43.69 million) contract to develop a residential tower in Al-Nakheel district King Fahd Road in Riyadh. The SAR164-million contract was signed with Shams Holding Company. The contract duration is 30 months from the date of commencement of construction works said a company filing on the Saudi Stock Exchange. The project is expected to have a positive impact on revenues of the company immediately after the start of implementation operations after obtaining the necessary approvals and licences it said. Related parties to the contract are Wavz Real Estate Development Company and Anyar Real Estate Development Company. - TradeArabia News Service ...
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Saudi Arabia s View United Real Estate Development Company has signed a SAR164-million ( 43.69 million) contract to develop a residential tower in Al-Nakheel district King Fahd Road in Riyadh. The SAR164-million contract was signed with Shams Holding Company. The contract duration is 30 months from the date of commencement of construction works said a company filing on the Saudi Stock Exchange. The project is expected to have a positive impact on revenues of the company immediately after the start of implementation operations after obtaining the necessary approvals and licences it said. Related parties to the contract are Wavz Real Estate Development Company and Anyar Real Estate Development Company. - TradeArabia News Service ...
Wasalt an advanced digital real estate platform specialising in real estate services has recorded a significant growth in usage boasting more than 750 000 registered users and 100 000 monthly leads. With an anticipated five-fold increase in revenue from 2025 to 2028 Wasalt has emerged as a transformative leader in Saudi Arabia s PropTech landscape within a short period of four years redefining the real estate ecosystem with cutting-edge technology AI-driven solutions and the recent launch of its innovative digital auction platform licensed by Infath the Kingdom s entrustment and liquidation centre the company said. Furthermore through its new auction platform it has transformed the traditional auction process providing a seamless and secure experience for buying and selling properties. Wasalt also offers transparency with AI-driven verific...
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Wasalt an advanced digital real estate platform specialising in real estate services has recorded a significant growth in usage boasting more than 750 000 registered users and 100 000 monthly leads. With an anticipated five-fold increase in revenue from 2025 to 2028 Wasalt has emerged as a transformative leader in Saudi Arabia s PropTech landscape within a short period of four years redefining the real estate ecosystem with cutting-edge technology AI-driven solutions and the recent launch of its innovative digital auction platform licensed by Infath the Kingdom s entrustment and liquidation centre the company said. Furthermore through its new auction platform it has transformed the traditional auction process providing a seamless and secure experience for buying and selling properties. Wasalt also offers transparency with AI-driven verific...
TotalEnergies (45 per cent operator) and its partners Basra Oil Company (30 per cent) and QatarEnergy (25 per cent) launched the construction works of ArtawiGas25 a first processing facility for the associated gas from the Ratawi field located in the Basra region Iraq. This facility which is part of the Gas Growth Integrated Project (GGIP) represents an investment of around 250 million and will process 50 million cubic feet per day (Mcf/d) of gas previously flared. The gas will supply local power plants covering the demand of approximately 200 000 households in the Basra region. Signed in September 2021 the GGIP project is a 10 billion multi-energy project designed to enhance the development of Iraq s natural resources and improve the country s electricity supply. The GGIP includes a large-scale gas processing plant with a fir...
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TotalEnergies (45 per cent operator) and its partners Basra Oil Company (30 per cent) and QatarEnergy (25 per cent) launched the construction works of ArtawiGas25 a first processing facility for the associated gas from the Ratawi field located in the Basra region Iraq. This facility which is part of the Gas Growth Integrated Project (GGIP) represents an investment of around 250 million and will process 50 million cubic feet per day (Mcf/d) of gas previously flared. The gas will supply local power plants covering the demand of approximately 200 000 households in the Basra region. Signed in September 2021 the GGIP project is a 10 billion multi-energy project designed to enhance the development of Iraq s natural resources and improve the country s electricity supply. The GGIP includes a large-scale gas processing plant with a fir...
Dubai s real estate market closed 2024 with exceptional results further establishing the city as a destination for strategic investments in the property sector. According to Springfield Properties Q4 2024 Dubai Real Estate Market Report total sales transaction values reached AED116.5 billion ( 31.72 billion) reflecting a 31.1% year-on-year increase with transaction volumes surging 51.8% to 46 844 closed deals. At the heart of this growth lies the off-plan market which contributed over half of the total transaction value as well as Dubai s thriving luxury property segment which continues to attract high-net-worth individuals and institutional investors worldwide. Established communities like Palm Jumeirah Downtown Dubai and Dubai Marina remain dominant offering a blend of exclusivity lifestyle appeal and long-term value the report said. Farooq S...
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Dubai s real estate market closed 2024 with exceptional results further establishing the city as a destination for strategic investments in the property sector. According to Springfield Properties Q4 2024 Dubai Real Estate Market Report total sales transaction values reached AED116.5 billion ( 31.72 billion) reflecting a 31.1% year-on-year increase with transaction volumes surging 51.8% to 46 844 closed deals. At the heart of this growth lies the off-plan market which contributed over half of the total transaction value as well as Dubai s thriving luxury property segment which continues to attract high-net-worth individuals and institutional investors worldwide. Established communities like Palm Jumeirah Downtown Dubai and Dubai Marina remain dominant offering a blend of exclusivity lifestyle appeal and long-term value the report said. Farooq S...
South Korean infrastructure majors including Samsung E&A GS Engineering and Hyundai have secured overseas contracts worth 34 billion in 2024 for industrial plant construction in 2024 the highest amount in nearly 10 years reported Yonhap citing senior Ministry of Trade Industry and Energy officials. The figure represents a 12.7% increase from 30.2 billion recorded in 2023 and is the largest since 36.4 billion posted in 2015 it stated. The ministry attributed the strong performance to projects won in the Middle East which amounted to 15.52 billion accounting for 46% of the total. In April Samsung E&A Co. and GS Engineering & Construction Corp. jointly secured a 7.3 billion contract to expand a gas plant in Saudi Arabia. In November Samsung C&T Corp. clinched an agreement worth 2.84 billion to construct a power...
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South Korean infrastructure majors including Samsung E&A GS Engineering and Hyundai have secured overseas contracts worth 34 billion in 2024 for industrial plant construction in 2024 the highest amount in nearly 10 years reported Yonhap citing senior Ministry of Trade Industry and Energy officials. The figure represents a 12.7% increase from 30.2 billion recorded in 2023 and is the largest since 36.4 billion posted in 2015 it stated. The ministry attributed the strong performance to projects won in the Middle East which amounted to 15.52 billion accounting for 46% of the total. In April Samsung E&A Co. and GS Engineering & Construction Corp. jointly secured a 7.3 billion contract to expand a gas plant in Saudi Arabia. In November Samsung C&T Corp. clinched an agreement worth 2.84 billion to construct a power...
The UAE s real estate sector maintained its growth momentum throughout 2024 marked by an increase in real estate projects and infrastructure investments reinforcing its position as a key pillar of the country s economic growth reported Wam . The vibrant real estate markets across the emirates underscored the UAE s status as a global hub for property investments and an attractive destination for high-net-worth individuals who play a vital role in stimulating market activity particularly in luxury real estate. The property markets in Abu Dhabi Dubai Sharjah and Ajman witnessed significant activity in transaction volumes over the past year maintaining positive performance levels thanks to diverse investment opportunities and growing demand for various property types. According to official data from the local real estate authorities of the four emirates ...
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The UAE s real estate sector maintained its growth momentum throughout 2024 marked by an increase in real estate projects and infrastructure investments reinforcing its position as a key pillar of the country s economic growth reported Wam . The vibrant real estate markets across the emirates underscored the UAE s status as a global hub for property investments and an attractive destination for high-net-worth individuals who play a vital role in stimulating market activity particularly in luxury real estate. The property markets in Abu Dhabi Dubai Sharjah and Ajman witnessed significant activity in transaction volumes over the past year maintaining positive performance levels thanks to diverse investment opportunities and growing demand for various property types. According to official data from the local real estate authorities of the four emirates ...
A record-breaking year for Dubai s real estate market with new milestones being set throughout 2024 culminated in an all-time peak of 180 900 transactions worth AED522 billion ( 142 billion). A market report issued today (January 2) by UAE-based fäm Properties underlines how 2024 became an historic year with big leaps of 36% and 27% respectively on the previous high of 133 100 sales worth AED411.1 billion in 2023. In the primary market first sales from developers climbed by 30% year on year to AED334.1 billion highlighting strong demand for new developments and off-plan properties it stated. The transaction volume surged by 51% to 119 800 in 2024 reflecting a substantial increase in buyer confidence and developer activity. There was also a steady appreciation in the average price per sq ft which was up 10% to AED 1 600. Demand was fuelled by new pr...
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A record-breaking year for Dubai s real estate market with new milestones being set throughout 2024 culminated in an all-time peak of 180 900 transactions worth AED522 billion ( 142 billion). A market report issued today (January 2) by UAE-based fäm Properties underlines how 2024 became an historic year with big leaps of 36% and 27% respectively on the previous high of 133 100 sales worth AED411.1 billion in 2023. In the primary market first sales from developers climbed by 30% year on year to AED334.1 billion highlighting strong demand for new developments and off-plan properties it stated. The transaction volume surged by 51% to 119 800 in 2024 reflecting a substantial increase in buyer confidence and developer activity. There was also a steady appreciation in the average price per sq ft which was up 10% to AED 1 600. Demand was fuelled by new pr...
The Saudi Real Estate Refinance Company (SRC) a PIF company has signed a MoU with Hassana Investment Company aimed at achieving the goals of the Kingdom of Saudi Arabia s Housing and Financial Sector Development Programmes thus aligning with the objectives of Saudi Vision 2030. The MoU is aimed at deepening and expanding the financial market in the kingdom in addition to enhancing liquidity in the real estate finance sector by introducing an innovative asset class - the first of its kind in the region - through the issuance of residential mortgage-backed securities. These issuances are expected to attract a diverse base of local and global investors in the secondary mortgage market and broaden investment opportunities in the sector. SRC was established by the Saudi Arabia s sovereign wealth fund PIF in 2017 with the aim of developing the kingdom s real e...
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The Saudi Real Estate Refinance Company (SRC) a PIF company has signed a MoU with Hassana Investment Company aimed at achieving the goals of the Kingdom of Saudi Arabia s Housing and Financial Sector Development Programmes thus aligning with the objectives of Saudi Vision 2030. The MoU is aimed at deepening and expanding the financial market in the kingdom in addition to enhancing liquidity in the real estate finance sector by introducing an innovative asset class - the first of its kind in the region - through the issuance of residential mortgage-backed securities. These issuances are expected to attract a diverse base of local and global investors in the secondary mortgage market and broaden investment opportunities in the sector. SRC was established by the Saudi Arabia s sovereign wealth fund PIF in 2017 with the aim of developing the kingdom s real e...
Saudi-based First Avenue for Real Estate Development Company has signed a non-binding Letter of Intent with Awj Real Estate Development and Investment Company (Awj) for the establishment of a real estate fund aimed at acquiring and developing commercial office and hospitality projects. The Fund aims to invest in four real estate assets in Saudi port city Jeddah: West La Perle East La Perle La Perle Residential Land and La Perle Hotel Land said First Avenue in its filing to Saudi bourse Tadawul. The company s ownership in the Fund is expected to range between 40% and 50% while Awj s ownership is set to be in 50% to 60% range. The Letter of Intent also includes standard provisions such as exclusivity during the negotiation period and confidentiality it added .-TradeArabia News Service ...
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Saudi-based First Avenue for Real Estate Development Company has signed a non-binding Letter of Intent with Awj Real Estate Development and Investment Company (Awj) for the establishment of a real estate fund aimed at acquiring and developing commercial office and hospitality projects. The Fund aims to invest in four real estate assets in Saudi port city Jeddah: West La Perle East La Perle La Perle Residential Land and La Perle Hotel Land said First Avenue in its filing to Saudi bourse Tadawul. The company s ownership in the Fund is expected to range between 40% and 50% while Awj s ownership is set to be in 50% to 60% range. The Letter of Intent also includes standard provisions such as exclusivity during the negotiation period and confidentiality it added .-TradeArabia News Service ...
GFH Partners a DIFC-based global asset management subsidiary of GFH Financial Group has announced a strategic investment in Manrre REIT a premier Dubai-based fund specialising in institutional-grade logistics and industrial assets across the UAE and the GCC region. Founded in 2018 by Palmon Group FZCO a leading local logistics developer and owner Manrre s portfolio is valued at approximately AED500 million ( 136.13 million). This includes 26 high-quality diversified industrial and logistics properties primarily in the UAE establishing Manrre as a leading player in the region s logistics and industrial real estate landscape. This investment marks a pivotal milestone for Manrre and its future growth. Following the recent approval from the Dubai Financial Services Authority ( DFSA ) GFH Partners has assumed the role of Fund Manager. This transaction marks...
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GFH Partners a DIFC-based global asset management subsidiary of GFH Financial Group has announced a strategic investment in Manrre REIT a premier Dubai-based fund specialising in institutional-grade logistics and industrial assets across the UAE and the GCC region. Founded in 2018 by Palmon Group FZCO a leading local logistics developer and owner Manrre s portfolio is valued at approximately AED500 million ( 136.13 million). This includes 26 high-quality diversified industrial and logistics properties primarily in the UAE establishing Manrre as a leading player in the region s logistics and industrial real estate landscape. This investment marks a pivotal milestone for Manrre and its future growth. Following the recent approval from the Dubai Financial Services Authority ( DFSA ) GFH Partners has assumed the role of Fund Manager. This transaction marks...
Bahrain-based Kanoo Real Estate a division of the Yusuf Bin Ahmed Kanoo Group has won top recognition at the 2024 Arabian Property Awards in the Best Mixed-Use Development Bahrain category for Sitra Service Station Best Retail Development Bahrain category for 1890 Boulevard and Best Mixed-Use Architecture Bahrain category for Sitra Service Station (5-Star Winner). Sitra Service Station is a mixed-use development spanning over 24 373 sq m and strategically located along the prominent Jaber Al-Ahmad Al-Sabah commercial highway in Sitra. As the largest service station of its kind in the Kingdom it offers exceptional visibility and access serving a wide range of businesses with modern facilities and services tailored to diverse customer needs ensuring convenience for on-the-go said the statement from Yusuf Bin Ahmed Kanoo Group. The project was in collaboration with ...
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Bahrain-based Kanoo Real Estate a division of the Yusuf Bin Ahmed Kanoo Group has won top recognition at the 2024 Arabian Property Awards in the Best Mixed-Use Development Bahrain category for Sitra Service Station Best Retail Development Bahrain category for 1890 Boulevard and Best Mixed-Use Architecture Bahrain category for Sitra Service Station (5-Star Winner). Sitra Service Station is a mixed-use development spanning over 24 373 sq m and strategically located along the prominent Jaber Al-Ahmad Al-Sabah commercial highway in Sitra. As the largest service station of its kind in the Kingdom it offers exceptional visibility and access serving a wide range of businesses with modern facilities and services tailored to diverse customer needs ensuring convenience for on-the-go said the statement from Yusuf Bin Ahmed Kanoo Group. The project was in collaboration with ...
Saudi Arabia s National Energy Services Company (Tarshid) has announced that one of its subsidiaries has signed a strategic agreement for detailed study with SAL Logistics Services. The agreement is aimed at enhancing energy efficiency across SAL facilities by conducting a detailed study to implement optimal energy efficiency solutions. It was signed under the patronage of Minister of Energy and Chairman of the National Energy Services Company (Tarshid) Prince Abdulaziz bin Salman bin Abdulaziz during the Saudi Green Initiative Forum and COP16 Conference in Riyadh. These efforts will contribute to improved operational efficiency and reduced carbon emissions aligning with the objectives of Saudi Vision 2030 to achieve energy sustainability and preserve natural resources. The agreement includes on-site surveys and a comprehensive tech...
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Saudi Arabia s National Energy Services Company (Tarshid) has announced that one of its subsidiaries has signed a strategic agreement for detailed study with SAL Logistics Services. The agreement is aimed at enhancing energy efficiency across SAL facilities by conducting a detailed study to implement optimal energy efficiency solutions. It was signed under the patronage of Minister of Energy and Chairman of the National Energy Services Company (Tarshid) Prince Abdulaziz bin Salman bin Abdulaziz during the Saudi Green Initiative Forum and COP16 Conference in Riyadh. These efforts will contribute to improved operational efficiency and reduced carbon emissions aligning with the objectives of Saudi Vision 2030 to achieve energy sustainability and preserve natural resources. The agreement includes on-site surveys and a comprehensive tech...
Azizi Developments has announced that construction at Creek Views III its AED350 ( 95.3 million) million luxury development on the shores of the iconic Dubai Creek in Dubai Healthcare City has reached 15%. Although its scheduled previously announced handover date is Q1 2026 an earlier ahead-of-schedule date is being aimed for. The project s progress has been swift with structural work and blockwork now at 38% and 5% respectively. The manpower has also been increased to 354 to speed up the pace of construction even further. Farhad Azizi Group CEO of the Azizi group of companies said: We are thrilled with the steady advancements at Creek Views III now 15% complete as we continue to uphold our promise of timely delivery and exceptional quality. This development is progressing in collaboration with top-tier partners and through the use of innovative construction practices. Creek Views III w...
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Azizi Developments has announced that construction at Creek Views III its AED350 ( 95.3 million) million luxury development on the shores of the iconic Dubai Creek in Dubai Healthcare City has reached 15%. Although its scheduled previously announced handover date is Q1 2026 an earlier ahead-of-schedule date is being aimed for. The project s progress has been swift with structural work and blockwork now at 38% and 5% respectively. The manpower has also been increased to 354 to speed up the pace of construction even further. Farhad Azizi Group CEO of the Azizi group of companies said: We are thrilled with the steady advancements at Creek Views III now 15% complete as we continue to uphold our promise of timely delivery and exceptional quality. This development is progressing in collaboration with top-tier partners and through the use of innovative construction practices. Creek Views III w...
NEOM the sustainable development taking shape in the northwest of the Kingdom has signed a joint venture (JV) agreement with Samsung C&T Corporation to unlock an initial investment of more than SAR1.3 billion ( 345 million) in construction robotics. The agreement will accelerate the development and deployment of cutting-edge construction automation technology in Saudi Arabia said a statement from NEOM. The joint venture was orchestrated by the Saudi group s strategic investment arm NEOM Investment Fund (NIF) which plays a pivotal role in driving the development of NEOM s ecosystem by fostering new businesses and accelerating value creation across NEOM s 15 sectors. The JV aims to automate rebar cage assembly through advanced robotic welding and tying techniques enabling the assembly of large pre-manufactured reinforcement cages. ...
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NEOM the sustainable development taking shape in the northwest of the Kingdom has signed a joint venture (JV) agreement with Samsung C&T Corporation to unlock an initial investment of more than SAR1.3 billion ( 345 million) in construction robotics. The agreement will accelerate the development and deployment of cutting-edge construction automation technology in Saudi Arabia said a statement from NEOM. The joint venture was orchestrated by the Saudi group s strategic investment arm NEOM Investment Fund (NIF) which plays a pivotal role in driving the development of NEOM s ecosystem by fostering new businesses and accelerating value creation across NEOM s 15 sectors. The JV aims to automate rebar cage assembly through advanced robotic welding and tying techniques enabling the assembly of large pre-manufactured reinforcement cages. ...
ONE Development has announced the start of construction of the AED2 billion ( 540 million) Laguna Residence its flagship project with ground being broken just 55 days after the launch. During a commencement ceremony in Dubai s City of Arabia attended by lead consultants AE7; Project Management Consultants Mirage Leisure and Development; sub-contractor Rabat Foundation and Salama Structural Engineers structural third-party reviewer emphasised the project s significant potential and its impact on the future of urban living in Dubai and the region. Scheduled for completion and delivery in Q4 2027 Laguna Residence will be the region s first fully AI-integrated residential community redefining modern living with innovative thoughtfully designed spaces that integrate technology and sustainability all while prioritising the comfort and needs of residents. The development will feature iconi...
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ONE Development has announced the start of construction of the AED2 billion ( 540 million) Laguna Residence its flagship project with ground being broken just 55 days after the launch. During a commencement ceremony in Dubai s City of Arabia attended by lead consultants AE7; Project Management Consultants Mirage Leisure and Development; sub-contractor Rabat Foundation and Salama Structural Engineers structural third-party reviewer emphasised the project s significant potential and its impact on the future of urban living in Dubai and the region. Scheduled for completion and delivery in Q4 2027 Laguna Residence will be the region s first fully AI-integrated residential community redefining modern living with innovative thoughtfully designed spaces that integrate technology and sustainability all while prioritising the comfort and needs of residents. The development will feature iconi...
Hellmann Worldwide Logistics a leading German transport and logistics company has appointed its Dubai-based Regional CEO (India Middle East and Africa) Madhav Kurup as the new Global Chief Operating Officer (COO) for Airfreight Seafreight and Contract Logistics and also a Member of the Management Board. In this role he will be responsible for the global strategic development of these products and further expand present and future product and vertical joint ventures. This is the first time in the company s 150-year history that a non-German member has made it to the Global Management Board and the first time a Hellmann Board member will be based outside Germany thus reflecting the company s commitment to global expansion and diversification. Lauding the appointment Dr. Thomas C. Lieb Chairman of Hellmann Supervisory Board said: Our strong...
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Hellmann Worldwide Logistics a leading German transport and logistics company has appointed its Dubai-based Regional CEO (India Middle East and Africa) Madhav Kurup as the new Global Chief Operating Officer (COO) for Airfreight Seafreight and Contract Logistics and also a Member of the Management Board. In this role he will be responsible for the global strategic development of these products and further expand present and future product and vertical joint ventures. This is the first time in the company s 150-year history that a non-German member has made it to the Global Management Board and the first time a Hellmann Board member will be based outside Germany thus reflecting the company s commitment to global expansion and diversification. Lauding the appointment Dr. Thomas C. Lieb Chairman of Hellmann Supervisory Board said: Our strong...
Arcapita Capital Company a subsidiary of Bahrain-headquartered global alternative investment firm Arcapita Group Holdings today (December 16) reached an agreement with Flow Progressive Logistics (Flow) to develop a modern class A logistics complex in Riyadh. An end-to-end supply chain management company Flow is a part of Saudi-based Alsulaiman Group. As per the deal inked during the Supply Chain and Logistics Conference held in Riyadh Arcapita will develop an 80 000 square meter mixed-use storage complex. The facility will feature various storage options including cold storage dry storage temperature-controlled facilities as well as specialized spaces for pharmaceutical and hazardous goods. Flow which provides international shipping customs clearance warehousing transportation delivery and reverse logistics will operate th...
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Arcapita Capital Company a subsidiary of Bahrain-headquartered global alternative investment firm Arcapita Group Holdings today (December 16) reached an agreement with Flow Progressive Logistics (Flow) to develop a modern class A logistics complex in Riyadh. An end-to-end supply chain management company Flow is a part of Saudi-based Alsulaiman Group. As per the deal inked during the Supply Chain and Logistics Conference held in Riyadh Arcapita will develop an 80 000 square meter mixed-use storage complex. The facility will feature various storage options including cold storage dry storage temperature-controlled facilities as well as specialized spaces for pharmaceutical and hazardous goods. Flow which provides international shipping customs clearance warehousing transportation delivery and reverse logistics will operate th...
Bareeq Al Retaj a leading real estate development company based in the Kingdom of Bahrain has partnered with Khaleeji Bank to deliver real estate financing solutions to beneficiaries of the Social Housing programs as well as individuals seeking to invest in Wahati Apartments or Ras Hayan Village. As per the deal Khaleeji one of Bahrain s leading Islamic Banks will provide financing of up to 100% of the property value at competitive profit rates and a flexible grace period as well as a projected profit rate of 4% of their salary value from Khaleeji s sharia-compliant salary account. Customers will also get to qualify for monthly draws on five prizes worth BD1 000 ( 2 634) each in addition to obtaining special discounts when shopping with their credit cards. Speaking at the signing CEO Yousif Mohamed Bucheeri said: We are pleased to be partnerin...
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Bareeq Al Retaj a leading real estate development company based in the Kingdom of Bahrain has partnered with Khaleeji Bank to deliver real estate financing solutions to beneficiaries of the Social Housing programs as well as individuals seeking to invest in Wahati Apartments or Ras Hayan Village. As per the deal Khaleeji one of Bahrain s leading Islamic Banks will provide financing of up to 100% of the property value at competitive profit rates and a flexible grace period as well as a projected profit rate of 4% of their salary value from Khaleeji s sharia-compliant salary account. Customers will also get to qualify for monthly draws on five prizes worth BD1 000 ( 2 634) each in addition to obtaining special discounts when shopping with their credit cards. Speaking at the signing CEO Yousif Mohamed Bucheeri said: We are pleased to be partnerin...
NEOM the sustainable region taking shape in northwest Saudi Arabia has signed a landmark investment agreement with GMT Robotics one of Europe s emerging innovators in advanced construction technology. Headquartered in Copenhagen Denmark GMT Robotics is a specialist in robotic technology tailored specifically to the rebar market. The company s robotic rebar cage assembly and handling systems deliver significant advancements in efficiency and workplace safety for the construction industry. By reducing onsite workforce requirements by an average of 90% through offsite prefabrication GMT Robotics enhances productivity while maintaining high safety standards. Spearheaded by the NEOM Investment Fund (NIF) NEOM s strategic investment arm the agreement aims to accelerate the delivery of the region s expansive capital project program through the use of ...
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NEOM the sustainable region taking shape in northwest Saudi Arabia has signed a landmark investment agreement with GMT Robotics one of Europe s emerging innovators in advanced construction technology. Headquartered in Copenhagen Denmark GMT Robotics is a specialist in robotic technology tailored specifically to the rebar market. The company s robotic rebar cage assembly and handling systems deliver significant advancements in efficiency and workplace safety for the construction industry. By reducing onsite workforce requirements by an average of 90% through offsite prefabrication GMT Robotics enhances productivity while maintaining high safety standards. Spearheaded by the NEOM Investment Fund (NIF) NEOM s strategic investment arm the agreement aims to accelerate the delivery of the region s expansive capital project program through the use of ...
Ras Al Khaimah Economic Zone (Rakez) has signed a Memorandum of Understanding (MoU) with DHL Express to enhance the logistics capabilities of businesses within the Rakez ecosystem particularly small and medium enterprises (SMEs). The MoU was signed by Rakez Chief Government & Corporate Relations Officer Yaser Abdulla Al Ahmed and DHL Express UAE Managing Director Mahmoud Haj Hussein at the Rakez Compass Coworking Centre. As part of the agreement DHL Express will roll out a tailored programme for Rakez clients enabling them to access credit accounts and enjoy special incentives including a three-month onboarding benefit. Additionally SMEs will be supported by a dedicated contact person providing enhanced sales and after-sales support. Operational efficiencies Rakez Group CEO Ramy Ja...
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Ras Al Khaimah Economic Zone (Rakez) has signed a Memorandum of Understanding (MoU) with DHL Express to enhance the logistics capabilities of businesses within the Rakez ecosystem particularly small and medium enterprises (SMEs). The MoU was signed by Rakez Chief Government & Corporate Relations Officer Yaser Abdulla Al Ahmed and DHL Express UAE Managing Director Mahmoud Haj Hussein at the Rakez Compass Coworking Centre. As part of the agreement DHL Express will roll out a tailored programme for Rakez clients enabling them to access credit accounts and enjoy special incentives including a three-month onboarding benefit. Additionally SMEs will be supported by a dedicated contact person providing enhanced sales and after-sales support. Operational efficiencies Rakez Group CEO Ramy Ja...
Combined Group Contracting (CGC) said it has emerged as the lowest bidder for Jurassic production facilities project being implemented by Kuwait Oil Company. The project scope includes external works of of Jurassic production facilities as well as development of a 16-inch feeder trunk line in Umm Naqa area. CGC has submitted the lowest price of KD19.2 million ( 62.6 million) for the KOC project. The entire work will be completed in 19 months it added. ...
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Combined Group Contracting (CGC) said it has emerged as the lowest bidder for Jurassic production facilities project being implemented by Kuwait Oil Company. The project scope includes external works of of Jurassic production facilities as well as development of a 16-inch feeder trunk line in Umm Naqa area. CGC has submitted the lowest price of KD19.2 million ( 62.6 million) for the KOC project. The entire work will be completed in 19 months it added. ...
Riyadh Development Company (ARDCO) and Agility Logistics Parks (ALP) have signed a partnership to build a SR227 million ( 60.4 million) state-of-the-art warehousing facility at a prime location east of Riyadh. The project involves construction of 58 000 sq m of Grade A warehousing on a 97 904 sq m parcel of land in the Rimal district of Riyadh. The integrated logistics centre will be built by Agility on land owned by ARDCO. Construction is to begin in 2025 and the complex is expected to open in the first half of 2026. Promising growth sectors Jehad AlKadi CEO of ARDCO said: This partnership is part of our commitment to the Invest to Grow strategy which aims to invest in promising growth sectors providing a sustainable source of income for the company while creating added value in priority...
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Riyadh Development Company (ARDCO) and Agility Logistics Parks (ALP) have signed a partnership to build a SR227 million ( 60.4 million) state-of-the-art warehousing facility at a prime location east of Riyadh. The project involves construction of 58 000 sq m of Grade A warehousing on a 97 904 sq m parcel of land in the Rimal district of Riyadh. The integrated logistics centre will be built by Agility on land owned by ARDCO. Construction is to begin in 2025 and the complex is expected to open in the first half of 2026. Promising growth sectors Jehad AlKadi CEO of ARDCO said: This partnership is part of our commitment to the Invest to Grow strategy which aims to invest in promising growth sectors providing a sustainable source of income for the company while creating added value in priority...
The 45th edition of Big 5 Global marked its opening day at the Dubai World Trade Centre where government leaders industry innovators and policymakers gathered to explore the power of construction in the Middle East Africa and South Asia (MEASA) region which boasts a 9 trillion construction projects pipeline. The successful opening of the 45th edition of Big 5 Global has been remarkable as we witnessed an inspiring day of thought-provoking discussions where leaders from across the industry came together to share insights and ideas for the future of construction said Josine Heijmans the Senior Vice President dmg events. It was also a day of tremendous business activity with companies signing new partnerships and deals showcasing the continued growth and importance of Big 5 Global as a hub for collaboration innovation and opportunity within the urban development and construction s...
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The 45th edition of Big 5 Global marked its opening day at the Dubai World Trade Centre where government leaders industry innovators and policymakers gathered to explore the power of construction in the Middle East Africa and South Asia (MEASA) region which boasts a 9 trillion construction projects pipeline. The successful opening of the 45th edition of Big 5 Global has been remarkable as we witnessed an inspiring day of thought-provoking discussions where leaders from across the industry came together to share insights and ideas for the future of construction said Josine Heijmans the Senior Vice President dmg events. It was also a day of tremendous business activity with companies signing new partnerships and deals showcasing the continued growth and importance of Big 5 Global as a hub for collaboration innovation and opportunity within the urban development and construction s...
GFH Financial Group has announced the launch of Outlive an innovative real estate developer and creator of master planned communities and mixed-use projects with a focus on health and well-being which will operate across the Mena region and Europe. Unveiling the project on the opening day of Cityscape Bahrain a key real estate and property event being held at Exhibition World Bahrain in Sakhir GFH said Outlive leverages the combined expertise and capabilities of the Group and its management team with proven expertise in development design and conceptualization of living communities. The new venture will operate in Europe and the Mena region with a particular focus on the growing and attractive Saudi as well as the UAE markets where there is strong demand for such focus and need for communities that deliver well-being attributes in addition to physical appeal it stated. &...
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GFH Financial Group has announced the launch of Outlive an innovative real estate developer and creator of master planned communities and mixed-use projects with a focus on health and well-being which will operate across the Mena region and Europe. Unveiling the project on the opening day of Cityscape Bahrain a key real estate and property event being held at Exhibition World Bahrain in Sakhir GFH said Outlive leverages the combined expertise and capabilities of the Group and its management team with proven expertise in development design and conceptualization of living communities. The new venture will operate in Europe and the Mena region with a particular focus on the growing and attractive Saudi as well as the UAE markets where there is strong demand for such focus and need for communities that deliver well-being attributes in addition to physical appeal it stated. &...
ALEC part of the Investment Corporate of Dubai (ICD) and a leading construction and related businesses group operating in the UAE and Saudi Arabia has launched its Robotics Strategy focused on transforming core construction processes through the use of cutting-edge automation solutions. The programme was unveiled at its annual Innovation Day event which featured a curated set of 14 construction robotics companies from across the globe that are pioneering the field. Aligning with the company s broader Innovation Agenda it will see ALEC forge partnerships with global robotics leaders to implement innovative solutions in its construction projects as well as to bring these technologies to the region thereby elevating the sector as a whole. Describing how through this strategy ALEC is demonstrating its commitment to supporting government initiatives in ...
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ALEC part of the Investment Corporate of Dubai (ICD) and a leading construction and related businesses group operating in the UAE and Saudi Arabia has launched its Robotics Strategy focused on transforming core construction processes through the use of cutting-edge automation solutions. The programme was unveiled at its annual Innovation Day event which featured a curated set of 14 construction robotics companies from across the globe that are pioneering the field. Aligning with the company s broader Innovation Agenda it will see ALEC forge partnerships with global robotics leaders to implement innovative solutions in its construction projects as well as to bring these technologies to the region thereby elevating the sector as a whole. Describing how through this strategy ALEC is demonstrating its commitment to supporting government initiatives in ...
Gulf Warehousing Company a leading logistics group in the region has announced that its wholly-owned subsidiary GWC Energy Services has signed a deal with Saudi Offshore Fabrication Company (OFC) to develop 100 000 sq m of Grade A logistics facilities at Ras Al Khair Industrial Port. Under this agreement GWC Energy Services will develop OFC s storage and logistics facilities leveraging its expertise in logistics and energy supply chain solutions to ensure the facilities are optimized to serve the clients needs. This collaboration represents a significant step in our expansion strategy and reinforces our commitment to strengthening our footprint in the Saudi market. Recently GWC has also signed a head of Terms with GFH Financial Group (GFH) to develop 200 000 sq m of Grade A logistics facilities across key locations in Saudi Arabia including Riyadh Jedda...
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Gulf Warehousing Company a leading logistics group in the region has announced that its wholly-owned subsidiary GWC Energy Services has signed a deal with Saudi Offshore Fabrication Company (OFC) to develop 100 000 sq m of Grade A logistics facilities at Ras Al Khair Industrial Port. Under this agreement GWC Energy Services will develop OFC s storage and logistics facilities leveraging its expertise in logistics and energy supply chain solutions to ensure the facilities are optimized to serve the clients needs. This collaboration represents a significant step in our expansion strategy and reinforces our commitment to strengthening our footprint in the Saudi market. Recently GWC has also signed a head of Terms with GFH Financial Group (GFH) to develop 200 000 sq m of Grade A logistics facilities across key locations in Saudi Arabia including Riyadh Jedda...
MAG Group Holding the multinational conglomerate has announced its portfolio of current and under development projects across its different real estate subsidiaries has reached AED 43.7 billion ( 11.9 billion). MAG Group Holding s real estate subsidiaries include MAG Lifestyle Development Keturah Invest Group Overseas (IGO) MBL Shoumous Art of Living Mall and MAG Leasing for warehouses. Moafaq Al Gaddah Founder and Chairman of MAG Group Holding said: The UAE s real estate sector is witnessing unprecedented demand driven by the strategic vision and initiatives of our wise leadership. The government s ongoing efforts to foster a favourable investment climate have made the UAE a preferred investment destination for global investors. We take pride in our extensive portfolio of developments that cater to diverse audiences adding value to the already thriving sector. At MAG G...
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MAG Group Holding the multinational conglomerate has announced its portfolio of current and under development projects across its different real estate subsidiaries has reached AED 43.7 billion ( 11.9 billion). MAG Group Holding s real estate subsidiaries include MAG Lifestyle Development Keturah Invest Group Overseas (IGO) MBL Shoumous Art of Living Mall and MAG Leasing for warehouses. Moafaq Al Gaddah Founder and Chairman of MAG Group Holding said: The UAE s real estate sector is witnessing unprecedented demand driven by the strategic vision and initiatives of our wise leadership. The government s ongoing efforts to foster a favourable investment climate have made the UAE a preferred investment destination for global investors. We take pride in our extensive portfolio of developments that cater to diverse audiences adding value to the already thriving sector. At MAG G...
Jadwa Investment a leading investment management and advisory firm in Middle East has awarded contracts worth SAR9 billion ( 2.4 billion) to address the growing demand for quality residential commercial and mixed-use spaces in the kingdom. These agreements were signed with key developers - Real Estate Development Fund (REDF) Dar Al Majed Company and Zood Real Estate - at Cityscape Global 2024 held last week in Riyadh said the Saudi group in a statement. Through these Riyadh-based projects Jadwa aims to contribute to the capital s rapid development as a global economic and cultural hub it added. Headquartered in Riyadh with three regional offices Jadwa Investment has over SAR90 billion ( 24 billion) in client assets under management and advisement. Its clients include government entities local and international institution...
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Jadwa Investment a leading investment management and advisory firm in Middle East has awarded contracts worth SAR9 billion ( 2.4 billion) to address the growing demand for quality residential commercial and mixed-use spaces in the kingdom. These agreements were signed with key developers - Real Estate Development Fund (REDF) Dar Al Majed Company and Zood Real Estate - at Cityscape Global 2024 held last week in Riyadh said the Saudi group in a statement. Through these Riyadh-based projects Jadwa aims to contribute to the capital s rapid development as a global economic and cultural hub it added. Headquartered in Riyadh with three regional offices Jadwa Investment has over SAR90 billion ( 24 billion) in client assets under management and advisement. Its clients include government entities local and international institution...
Merlin Real Estate a prominent real estate advisory firm with deep roots in Dubai is participating in Cityscape Bahrain later this month to put the spotlight a selection of premium projects from renowned developers such as Emaar and Nakheel. The company is promoting projects like Emaar Terra Heights and Palm Jebel Ali highlighting their potential for high returns on investment. Using the Cityscape platform Merlin Real Estate aims to tap into Bahrain s growing real estate market and offer investors access to sought-after properties in the emirates. Speaking to Gulf Construction Rohit Bachani Co-Founder of Merlin Real Estate emphasised the evolving landscape of real estate in the Mena region and highlighted the need for trusted advisory services to navigate the complex market and identify the best investment opportunities. Bachani elaborates: Premium developers such as Emaar and Nakheel are launching multi-billion-doll...
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Merlin Real Estate a prominent real estate advisory firm with deep roots in Dubai is participating in Cityscape Bahrain later this month to put the spotlight a selection of premium projects from renowned developers such as Emaar and Nakheel. The company is promoting projects like Emaar Terra Heights and Palm Jebel Ali highlighting their potential for high returns on investment. Using the Cityscape platform Merlin Real Estate aims to tap into Bahrain s growing real estate market and offer investors access to sought-after properties in the emirates. Speaking to Gulf Construction Rohit Bachani Co-Founder of Merlin Real Estate emphasised the evolving landscape of real estate in the Mena region and highlighted the need for trusted advisory services to navigate the complex market and identify the best investment opportunities. Bachani elaborates: Premium developers such as Emaar and Nakheel are launching multi-billion-doll...
Experts will convene at Scalex at Logimotion to discuss the innovations shaping the future of global supply chain and logistics. Over 40 speakers and 150 delegates are expected to attend the conference which will be held at the inaugural edition of Logimotion from December 10 to 11. Scalex will showcase advancements in data analytics robotics and automation artificial intelligence blockchain and IoT offering insights into how these technologies enhance supply chain resilience visibility and control. In addition the event will underscore the critical importance of sustainability and explore green practices and strategies. Commenting ahead of Scalex Dishan Isaac Exhibition Director of Logimotion said: Logimotion is committed to driving innovation collaboration and growth across the international logistics mobility and supply chain sectors by offering a dynamic platform for industry...
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Experts will convene at Scalex at Logimotion to discuss the innovations shaping the future of global supply chain and logistics. Over 40 speakers and 150 delegates are expected to attend the conference which will be held at the inaugural edition of Logimotion from December 10 to 11. Scalex will showcase advancements in data analytics robotics and automation artificial intelligence blockchain and IoT offering insights into how these technologies enhance supply chain resilience visibility and control. In addition the event will underscore the critical importance of sustainability and explore green practices and strategies. Commenting ahead of Scalex Dishan Isaac Exhibition Director of Logimotion said: Logimotion is committed to driving innovation collaboration and growth across the international logistics mobility and supply chain sectors by offering a dynamic platform for industry...
Asteco s Q3 2024 real estate report reveals a dynamic UAE property market characterised by sustained growth in Abu Dhabi continued momentum in Dubai and increasing activity in the Northern Emirates. According to the report the Abu Dhabi market is well-positioned for growth driven by new developers entering the market and a significant pipeline of planned developments. The report also shows that the Dubai government s proactive approach to enhancing the Emirate s physical social technological and legal infrastructure combined with robust underlying fundamentals is expected to contribute to solid market conditions and resilience against external factors. Abu Dhabi residential and office market According to the report approximately 950 residential units were completed a...
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Asteco s Q3 2024 real estate report reveals a dynamic UAE property market characterised by sustained growth in Abu Dhabi continued momentum in Dubai and increasing activity in the Northern Emirates. According to the report the Abu Dhabi market is well-positioned for growth driven by new developers entering the market and a significant pipeline of planned developments. The report also shows that the Dubai government s proactive approach to enhancing the Emirate s physical social technological and legal infrastructure combined with robust underlying fundamentals is expected to contribute to solid market conditions and resilience against external factors. Abu Dhabi residential and office market According to the report approximately 950 residential units were completed a...
The Sharjah Airport International Free Zone (Saif Zone) has signed a lease agreement with EMX the logistics arm of 7X for the lease of their new 6 500 square-foot logistics warehouse. The agreement was signed by Saud Salim Al Mazrouei Director of Saif Zone and Tariq Alwahedi General Manager of EMX during a ceremony attended by officials and executives from both sides. Advanced logistics systems The agreement aims to enhance EMX s operational infrastructure further strengthening its express delivery and parcel services across the UAE. Within the new warehouse EMX will integrate advanced logistics systems digital solutions and modern technologies to streamline and automate key operations to increase efficiency and accuracy throughout its network. These enhancements will enable EMX to further elevate service quality and reduce deli...
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The Sharjah Airport International Free Zone (Saif Zone) has signed a lease agreement with EMX the logistics arm of 7X for the lease of their new 6 500 square-foot logistics warehouse. The agreement was signed by Saud Salim Al Mazrouei Director of Saif Zone and Tariq Alwahedi General Manager of EMX during a ceremony attended by officials and executives from both sides. Advanced logistics systems The agreement aims to enhance EMX s operational infrastructure further strengthening its express delivery and parcel services across the UAE. Within the new warehouse EMX will integrate advanced logistics systems digital solutions and modern technologies to streamline and automate key operations to increase efficiency and accuracy throughout its network. These enhancements will enable EMX to further elevate service quality and reduce deli...
Infracorp a leading specialised company investing in the infrastructure and sustainability development sector will be showcasing its diverse portfolio of real estate and development projects both within Bahrain and beyond at the upcoming Cityscape Bahrain 2024 real estate xpo. Being held under the patronage of HRH Prince Salman bin Hamad Al Khalifa Crown Prince and Prime Minister Cityscape Bahrain 2024 will open its doors on November 26 at the Exhibition World Bahrain and run for the next four days. This participation follows the remarkable success the company achieved at the previous edition said a statement from Infracorp. Additionally the Bahrain-based investment group will be joining the Cityscape Riyadh 2024 exhibition to be held on November 11 at the Riyadh International Convention and Exhibition Centre as part of the dedicated Bahrain pavilion organised by the ...
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Infracorp a leading specialised company investing in the infrastructure and sustainability development sector will be showcasing its diverse portfolio of real estate and development projects both within Bahrain and beyond at the upcoming Cityscape Bahrain 2024 real estate xpo. Being held under the patronage of HRH Prince Salman bin Hamad Al Khalifa Crown Prince and Prime Minister Cityscape Bahrain 2024 will open its doors on November 26 at the Exhibition World Bahrain and run for the next four days. This participation follows the remarkable success the company achieved at the previous edition said a statement from Infracorp. Additionally the Bahrain-based investment group will be joining the Cityscape Riyadh 2024 exhibition to be held on November 11 at the Riyadh International Convention and Exhibition Centre as part of the dedicated Bahrain pavilion organised by the ...
In a major move the northern emirate of Umm Al Qaiwain has announced plans for the establishment of a logistics city and an airport specially for cargo activities; a key step towards achieving the emirate s Vision 2033 to boost its position as a global hub for logistics services. The plan for Logistics City and Umm Al Qaiwain Cargo Airport came up at the UAQ Executive Council s meeting held today (November 5) under the chairmanship of Sheikh Rashid bin Saud bin Rashid Al Mu alla the Crown Prince of Umm Al Qaiwain reported Wam . The meeting took place as part of the UAE Government Annual Meetings 2024 in Abu Dhabi. The Logistics City is an integrated area that supports transportation and trade movements facilitating logistical operations and connections between different modes of transport. The city with its modern ...
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In a major move the northern emirate of Umm Al Qaiwain has announced plans for the establishment of a logistics city and an airport specially for cargo activities; a key step towards achieving the emirate s Vision 2033 to boost its position as a global hub for logistics services. The plan for Logistics City and Umm Al Qaiwain Cargo Airport came up at the UAQ Executive Council s meeting held today (November 5) under the chairmanship of Sheikh Rashid bin Saud bin Rashid Al Mu alla the Crown Prince of Umm Al Qaiwain reported Wam . The meeting took place as part of the UAE Government Annual Meetings 2024 in Abu Dhabi. The Logistics City is an integrated area that supports transportation and trade movements facilitating logistical operations and connections between different modes of transport. The city with its modern ...
Technology has played a vital role in enabling real estate brokers and agents to provide an exceptional buyer experience and facilitate the completion of crucial deals with both local and international investors in the UAE realty market. By leveraging the enormous benefits of a cloud-based omni-channel contact center that features advanced communication tools and AI-powered chatbots real estate agents can provide personalised and automated customer communication support resulting in enhanced customer engagement and improved sales performance. CRM tools centralise customer data enabling agents to track interactions manage leads effectively and tailor their approach to individual clients explains Sabah Corm Marketing and Innovations Director of IT Max Global a leading service provider in the IT sector. Additionally AI-driven analytics offer valuable insights into market trends allowing...
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Technology has played a vital role in enabling real estate brokers and agents to provide an exceptional buyer experience and facilitate the completion of crucial deals with both local and international investors in the UAE realty market. By leveraging the enormous benefits of a cloud-based omni-channel contact center that features advanced communication tools and AI-powered chatbots real estate agents can provide personalised and automated customer communication support resulting in enhanced customer engagement and improved sales performance. CRM tools centralise customer data enabling agents to track interactions manage leads effectively and tailor their approach to individual clients explains Sabah Corm Marketing and Innovations Director of IT Max Global a leading service provider in the IT sector. Additionally AI-driven analytics offer valuable insights into market trends allowing...
Dubai South the largest single-urban master development focusing on aviation logistics and real estate and Indu Kishore Logistics broke ground on a new facility that will be built at Dubai South s Logistics District. This development marks a significant milestone in the company s expansion plan supporting its ambition to evolve into a multi-industry logistics leader. The groundbreaking ceremony was attended by AbdulBasit AlMarzouqi Deputy CEO of the Logistics District Dubai South and Kishore Lakhani Chairman Indu Group in the presence of senior executives from both entities. Completion in Q3 2025 The facility spanning approximately 23 000 sq m and with a storage capacity of 75 000 pallets is scheduled for completion by Q3 2025. Designed to handle spare par...
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Dubai South the largest single-urban master development focusing on aviation logistics and real estate and Indu Kishore Logistics broke ground on a new facility that will be built at Dubai South s Logistics District. This development marks a significant milestone in the company s expansion plan supporting its ambition to evolve into a multi-industry logistics leader. The groundbreaking ceremony was attended by AbdulBasit AlMarzouqi Deputy CEO of the Logistics District Dubai South and Kishore Lakhani Chairman Indu Group in the presence of senior executives from both entities. Completion in Q3 2025 The facility spanning approximately 23 000 sq m and with a storage capacity of 75 000 pallets is scheduled for completion by Q3 2025. Designed to handle spare par...
GFH Financial Group (GFH) a leading financial institution with a strong focus on logistics sector based in Bahrain has signed a Head of Terms with Gulf Warehousing Company (GWC) one of the region s top logistics providers. The collaboration will see GFH power GWC s expansion plans by developing 200 000 sq m Grade A logistics facilities across key locations in Saudi Arabia including Riyadh Jeddah and Dammam. As part of the Head of Terms GFH will finance and oversee the development of these state-of-the-art logistics spaces tailored to meet GWC s specific operational requirements while GWC will lead the technical development of these facilities while being the anchor tenant once completed. GWC will leverage its expertise in logistics and supply chain solutions to ensure the facilities are optimized to serve the clients needs...
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GFH Financial Group (GFH) a leading financial institution with a strong focus on logistics sector based in Bahrain has signed a Head of Terms with Gulf Warehousing Company (GWC) one of the region s top logistics providers. The collaboration will see GFH power GWC s expansion plans by developing 200 000 sq m Grade A logistics facilities across key locations in Saudi Arabia including Riyadh Jeddah and Dammam. As part of the Head of Terms GFH will finance and oversee the development of these state-of-the-art logistics spaces tailored to meet GWC s specific operational requirements while GWC will lead the technical development of these facilities while being the anchor tenant once completed. GWC will leverage its expertise in logistics and supply chain solutions to ensure the facilities are optimized to serve the clients needs...
Dubai s growing assembly of more than 22 900 real estate brokers can combine to help build the greatest city in the world through a shift to more collaborative practices. That is the vision behind a first of its kind educational programme aimed at transforming the Dubai property market with brokers maintaining healthy ethical competition while also forging partnerships that benefit the broader community. Launched by Firas Al Msaddi CEO of fäm Properties the Real Estate Blueprint offers a series of unique events and training initiatives combining to create a community hub for brokers focused on learning networking and building professional skills. Game Changers The first of these events The Game Changers drew almost 3 000 paying real estate professionals to the Coca Col...
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Dubai s growing assembly of more than 22 900 real estate brokers can combine to help build the greatest city in the world through a shift to more collaborative practices. That is the vision behind a first of its kind educational programme aimed at transforming the Dubai property market with brokers maintaining healthy ethical competition while also forging partnerships that benefit the broader community. Launched by Firas Al Msaddi CEO of fäm Properties the Real Estate Blueprint offers a series of unique events and training initiatives combining to create a community hub for brokers focused on learning networking and building professional skills. Game Changers The first of these events The Game Changers drew almost 3 000 paying real estate professionals to the Coca Col...
United Real Estate Development Company one of the fastest growing shopping mall developer in Saudi Arabia has announced that it has bought a 2 700 sq m plot of land within the Al Narjis neighbourhood in the kingdom for SAR27 million ( 7.2 million). The plot which was purchased from Ahmed bin Mohammed bin Othman will be used for future development of a residential project on it said United Real Estate Development Company in its filing to Saudi bourse Tadawul. The Saudi developer has inked a facility agreement with Al Rajhi Bank for shari a-compliant banking facilities to fund 66% of the cost of buying land.- TradeArabia News Service ...
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United Real Estate Development Company one of the fastest growing shopping mall developer in Saudi Arabia has announced that it has bought a 2 700 sq m plot of land within the Al Narjis neighbourhood in the kingdom for SAR27 million ( 7.2 million). The plot which was purchased from Ahmed bin Mohammed bin Othman will be used for future development of a residential project on it said United Real Estate Development Company in its filing to Saudi bourse Tadawul. The Saudi developer has inked a facility agreement with Al Rajhi Bank for shari a-compliant banking facilities to fund 66% of the cost of buying land.- TradeArabia News Service ...
Dubai Real Estate market witnessed a robust performance across both residential and commercial sectors during Q3 2024 a report said. Dubai s real estate market continues to attract global interest with combined residential and commercial sales reaching AED138.8 billion ( 37.79 billion) for the quarter said the report by Engel & Völkers Middle East known for its residential and commercial real estate services in the premium segment. Residential transactions surged by 40.8% year-on-year contributing AED115.6 billion while the commercial market added AED23.2 billion in sales reflecting a 28% increase in total transaction value compared to the same period in 2023. Dubai s thriving real estate market is buoyed by strong economic fundamentals rising foreign investment and the emirate s appeal as a destination for high-net-worth individuals and businesses...
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Dubai Real Estate market witnessed a robust performance across both residential and commercial sectors during Q3 2024 a report said. Dubai s real estate market continues to attract global interest with combined residential and commercial sales reaching AED138.8 billion ( 37.79 billion) for the quarter said the report by Engel & Völkers Middle East known for its residential and commercial real estate services in the premium segment. Residential transactions surged by 40.8% year-on-year contributing AED115.6 billion while the commercial market added AED23.2 billion in sales reflecting a 28% increase in total transaction value compared to the same period in 2023. Dubai s thriving real estate market is buoyed by strong economic fundamentals rising foreign investment and the emirate s appeal as a destination for high-net-worth individuals and businesses...
Aramex a leading global provider of comprehensive logistics and transportation solutions has joined hands with ZK Holding a leading investment company operating in Abu Dhabi to set up a new venture aimed at providing fully integrated services including domestic and international courier freight forwarding and contract logistics aimed at supporting both local and international businesses in Iraq. Through this joint venture Aramex will significantly expand its existing footprint in the country by tapping into ZK Holding s extensive reach including access to over 7 000 points of sales across Iraq enabling widespread pick-up and drop-off services said the logistics group in a statement. This network will help facilitate smoother logistics operations in more than 15 cities across the country it stated. Combining Aramex s expertise and global network with Z...
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Aramex a leading global provider of comprehensive logistics and transportation solutions has joined hands with ZK Holding a leading investment company operating in Abu Dhabi to set up a new venture aimed at providing fully integrated services including domestic and international courier freight forwarding and contract logistics aimed at supporting both local and international businesses in Iraq. Through this joint venture Aramex will significantly expand its existing footprint in the country by tapping into ZK Holding s extensive reach including access to over 7 000 points of sales across Iraq enabling widespread pick-up and drop-off services said the logistics group in a statement. This network will help facilitate smoother logistics operations in more than 15 cities across the country it stated. Combining Aramex s expertise and global network with Z...
Kleindienst Group a leading global business conglomerate and master developer behind The Heart of Europe on Dubai s World Islands has achieved a major construction milestone with the topping out of The Artist Hotel an innovative luxury hub designed for global artists. The Artist Hotel an innovative luxury hub designed for global artists has reached the rooftop level of its construction. This achievement marks key steps toward realising Kleindienst Group s ambitious vision of The Heart of Europe as a world-class destination that embodies luxury sustainability and innovation. Josef Kleindienst Founder and Chairman of Kleindienst Group commented We are delighted to celebrate this key construction milestone at The Heart of Europe development. The Artist hotel is a flagship project that reflects our commitment to creating a destination where art culture and luxury meet. This develop...
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Kleindienst Group a leading global business conglomerate and master developer behind The Heart of Europe on Dubai s World Islands has achieved a major construction milestone with the topping out of The Artist Hotel an innovative luxury hub designed for global artists. The Artist Hotel an innovative luxury hub designed for global artists has reached the rooftop level of its construction. This achievement marks key steps toward realising Kleindienst Group s ambitious vision of The Heart of Europe as a world-class destination that embodies luxury sustainability and innovation. Josef Kleindienst Founder and Chairman of Kleindienst Group commented We are delighted to celebrate this key construction milestone at The Heart of Europe development. The Artist hotel is a flagship project that reflects our commitment to creating a destination where art culture and luxury meet. This develop...
CEVA Logistics a global leader in third-party logistics and Almajdouie Logistics a leading end-to-end logistics solutions provider in the Middle East signed the final agreement to create a joint venture in the Kingdom of Saudi Arabia (KSA). The signing took place during the inaugural Global Logistics Forum in Riyadh. First announced in July 2024 and subsequently approved by the relevant Saudi authorities the newly created joint venture CEVA Almajdouie Logistics will leverage the strengths of both companies to meet the growing demand for integrated logistics solutions in Saudi Arabia to support the Kingdom s growing logistics sector and overall economy. CEVA Logistics controls a majority stake of the joint venture. With a presence in Saudi Arabia since the 1980s CEVA Logistics has collaborat...
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CEVA Logistics a global leader in third-party logistics and Almajdouie Logistics a leading end-to-end logistics solutions provider in the Middle East signed the final agreement to create a joint venture in the Kingdom of Saudi Arabia (KSA). The signing took place during the inaugural Global Logistics Forum in Riyadh. First announced in July 2024 and subsequently approved by the relevant Saudi authorities the newly created joint venture CEVA Almajdouie Logistics will leverage the strengths of both companies to meet the growing demand for integrated logistics solutions in Saudi Arabia to support the Kingdom s growing logistics sector and overall economy. CEVA Logistics controls a majority stake of the joint venture. With a presence in Saudi Arabia since the 1980s CEVA Logistics has collaborat...
The Global Logistics Forum (GLF) hosted by the Ministry of Transport and Logistic Services has commenced following a series of closed door think tank sessions over the weekend. Held under the patronage of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud the GLF seeks to reshape the logistics industry through global collaboration. Key players from across the sector have gathered in Riyadh to discuss challenges and share knowledge to strengthen the industry s efficiency resilience and sustainability in an increasingly interconnected world. Logistics Diwan The forum commenced with a Logistics Leader Diwan which offered a platform to global leaders across the world to discuss the latest trends in logistics growth. The plenary sessions were opened by a speech from Eng Saleh bin Nass...
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The Global Logistics Forum (GLF) hosted by the Ministry of Transport and Logistic Services has commenced following a series of closed door think tank sessions over the weekend. Held under the patronage of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud the GLF seeks to reshape the logistics industry through global collaboration. Key players from across the sector have gathered in Riyadh to discuss challenges and share knowledge to strengthen the industry s efficiency resilience and sustainability in an increasingly interconnected world. Logistics Diwan The forum commenced with a Logistics Leader Diwan which offered a platform to global leaders across the world to discuss the latest trends in logistics growth. The plenary sessions were opened by a speech from Eng Saleh bin Nass...
The Global Logistics Forum (GLF) hosted by the Saudi Ministry of Transport and Logistic Services has announced its partners for the upcoming event taking place in Riyadh from October 12 to 14 2024. Under the patronage of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud the inaugural event looks to see unprecedented international collaboration and reshape the map of global logistics. At its core GLF will serve as a dedicated platform for uniting logistics ecosystem partners to enhance the efficiency resilience sustainability and profitability in a globalised world. GLF s global partners share the event s goal of uniting all corners of the logistics sector helping to deliver a one-of-a-kind event to 10 000 attendees. An event backed by its own ecosystem partners include the likes of aviation entities such as Saudia Group Saudi Arabia s port supervisors ...
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The Global Logistics Forum (GLF) hosted by the Saudi Ministry of Transport and Logistic Services has announced its partners for the upcoming event taking place in Riyadh from October 12 to 14 2024. Under the patronage of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud the inaugural event looks to see unprecedented international collaboration and reshape the map of global logistics. At its core GLF will serve as a dedicated platform for uniting logistics ecosystem partners to enhance the efficiency resilience sustainability and profitability in a globalised world. GLF s global partners share the event s goal of uniting all corners of the logistics sector helping to deliver a one-of-a-kind event to 10 000 attendees. An event backed by its own ecosystem partners include the likes of aviation entities such as Saudia Group Saudi Arabia s port supervisors ...
Logimotion a new exhibition for the international logistics and mobility sectors will host three pivotal conferences featuring industry leaders worldwide. The event will take place at the Dubai World Trade Centre from December 10 to 11 and will coincide with Automechanika Dubai. Logimotion will showcase technologies and solutions within mobility and logistics while fostering industry insights through engaging conference sessions at Scalex the Global Trade and Infrastructure Summit and the TransMobility Forum. The inaugural Scalex conference is themed Charting the Course of Global Excellence and will explore supply chain innovations including robotics blockchain Artificial Intelligence (AI) next-generation automation and cybersecurity. Deep dive The global symposium offer...
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Logimotion a new exhibition for the international logistics and mobility sectors will host three pivotal conferences featuring industry leaders worldwide. The event will take place at the Dubai World Trade Centre from December 10 to 11 and will coincide with Automechanika Dubai. Logimotion will showcase technologies and solutions within mobility and logistics while fostering industry insights through engaging conference sessions at Scalex the Global Trade and Infrastructure Summit and the TransMobility Forum. The inaugural Scalex conference is themed Charting the Course of Global Excellence and will explore supply chain innovations including robotics blockchain Artificial Intelligence (AI) next-generation automation and cybersecurity. Deep dive The global symposium offer...
NMDC Group one of the leading companies providing dredging reclamation and marine construction projects in the Middle East has secured a AED5.1 billion ( 1.36 billion) contract from UAE-based Modon Company for one of its projects in Abu Dhabi. The scope of work includes provision of marine dredging reclamation and ground improvement works for the project said NMDC in its filing to the Abu Dhabi Exchange (ADX). This contract win for NMDC Group comes close on the heels of its securing a 200 million marine dredging works order from Abu Dhabi National Oil Company (Adnoc) in August for an LNG project. The Emirati group (formerly known as National Marine Dredging Company) has a strong track record of delivering major projects with innovative and cost-effective solutions. Backed by Alpha Dhabi Holding a subsidiary of International ...
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NMDC Group one of the leading companies providing dredging reclamation and marine construction projects in the Middle East has secured a AED5.1 billion ( 1.36 billion) contract from UAE-based Modon Company for one of its projects in Abu Dhabi. The scope of work includes provision of marine dredging reclamation and ground improvement works for the project said NMDC in its filing to the Abu Dhabi Exchange (ADX). This contract win for NMDC Group comes close on the heels of its securing a 200 million marine dredging works order from Abu Dhabi National Oil Company (Adnoc) in August for an LNG project. The Emirati group (formerly known as National Marine Dredging Company) has a strong track record of delivering major projects with innovative and cost-effective solutions. Backed by Alpha Dhabi Holding a subsidiary of International ...
Savoye a leading one-stop-shop integrator of automated warehouse solutions and software publisher will showcase its innovative offerings and ODATiO software to the Middle East and UAE market at Gitex 2024 from October 14 to 18. These supply chain and logistics solutions assist businesses in optimising their operations boosting efficiency and capitalising on emerging opportunities thereby meeting the region s evolving demands. Savoye will be co-exhibiting with Incube in the latest edition and aims to network with industry experts strengthen existing partnerships and explore new avenues for collaboration in the logistics and supply chain industry. They will showcase to businesses the upgraded version of Savoye s flagship software application ODATiO which now features an integrated Order Management System (OMS). Evolvi...
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Savoye a leading one-stop-shop integrator of automated warehouse solutions and software publisher will showcase its innovative offerings and ODATiO software to the Middle East and UAE market at Gitex 2024 from October 14 to 18. These supply chain and logistics solutions assist businesses in optimising their operations boosting efficiency and capitalising on emerging opportunities thereby meeting the region s evolving demands. Savoye will be co-exhibiting with Incube in the latest edition and aims to network with industry experts strengthen existing partnerships and explore new avenues for collaboration in the logistics and supply chain industry. They will showcase to businesses the upgraded version of Savoye s flagship software application ODATiO which now features an integrated Order Management System (OMS). Evolvi...
Ajex Logistics Services (Ajex) a leading specialist in express distribution and shipping solutions has partnered with prominent logistics brand Widect a 100% subsidiary of Turkish Airlines and highly valued partner in e-commerce space. This agreement aims to expand shipping solutions on the Turkiye-(formerly Turkey)-to-Middle East route and enhance last-mile delivery services for the growing e-commerce sector across Mena. As a 100% subsidiary of Turkish Airlines Widect operations integrate the extensive flight network of Turkish Airlines providing access to 340 destinations worldwide. Thanks to this latest collaboration Ajex customers will benefit from daily flights between Istanbul and Riyadh Jeddah and Dammam enhancing the speed of services including last-mile deliveries. Last-mile expertise M...
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Ajex Logistics Services (Ajex) a leading specialist in express distribution and shipping solutions has partnered with prominent logistics brand Widect a 100% subsidiary of Turkish Airlines and highly valued partner in e-commerce space. This agreement aims to expand shipping solutions on the Turkiye-(formerly Turkey)-to-Middle East route and enhance last-mile delivery services for the growing e-commerce sector across Mena. As a 100% subsidiary of Turkish Airlines Widect operations integrate the extensive flight network of Turkish Airlines providing access to 340 destinations worldwide. Thanks to this latest collaboration Ajex customers will benefit from daily flights between Istanbul and Riyadh Jeddah and Dammam enhancing the speed of services including last-mile deliveries. Last-mile expertise M...
Saudi-based Makkah Construction and Development Company has announced that it has entered into a deal with 57 shareholders of First Avenue Real Estate Development Company to buy a strategic 30.13% stake in the company for a total value of SAR341 million ( 91 million). The agreements with the principal shareholder of First Avenue Nader bin Hassan bin Atallah Al Amri Dar Al Majed Real Estate Company and First Avenue include an obligation on them to take necessary actions to complete the initial public offering (IPO) of First Avenue and to obtain the necessary approvals for publishing the supplementary prospectus related to the Transaction and also include a restriction on the disposal of shares for the principal shareholder said Makkah Construction in its filing to the Saudi bourse Tadawul. Under this Makkah Construction acquired a total of 56.8 million ordinary shares of First Avenue ...
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Saudi-based Makkah Construction and Development Company has announced that it has entered into a deal with 57 shareholders of First Avenue Real Estate Development Company to buy a strategic 30.13% stake in the company for a total value of SAR341 million ( 91 million). The agreements with the principal shareholder of First Avenue Nader bin Hassan bin Atallah Al Amri Dar Al Majed Real Estate Company and First Avenue include an obligation on them to take necessary actions to complete the initial public offering (IPO) of First Avenue and to obtain the necessary approvals for publishing the supplementary prospectus related to the Transaction and also include a restriction on the disposal of shares for the principal shareholder said Makkah Construction in its filing to the Saudi bourse Tadawul. Under this Makkah Construction acquired a total of 56.8 million ordinary shares of First Avenue ...
UAE s real estate market which is predicted to reach a value of AED2.5 trillion ( 680 billion) by 2024 end continues to garner strong demand from investors from all over the world. The growing surge is due to various factors with the off-plan market being the major contributor and responsible for 65% of overall sales transactions for the month of August 2024 a 54% volume increase from what was recorded during the same period last year said QUBE Development a renowned international real estate developer. This sector s growth is spearheaded by the increasing influx of high-net-worth individuals (HNWIs) who have entered the market looking for strong investment opportunities with a focus on the luxury property sector primarily in the off-plan market where a high number of ultra-luxury projects and megaprojects are currently under way. span style=...
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UAE s real estate market which is predicted to reach a value of AED2.5 trillion ( 680 billion) by 2024 end continues to garner strong demand from investors from all over the world. The growing surge is due to various factors with the off-plan market being the major contributor and responsible for 65% of overall sales transactions for the month of August 2024 a 54% volume increase from what was recorded during the same period last year said QUBE Development a renowned international real estate developer. This sector s growth is spearheaded by the increasing influx of high-net-worth individuals (HNWIs) who have entered the market looking for strong investment opportunities with a focus on the luxury property sector primarily in the off-plan market where a high number of ultra-luxury projects and megaprojects are currently under way. span style=...
As Saudi Arabia marks its 94th National Day today (September 23) celebrating a remarkable transformation since the launch of Vision 2030 the construction industry is playing a pivotal role in preserving the nation s heritage while shaping its future said a leading player in the sector. A prime example of this balance is the Diriyah Project a 63 billion development transforming the birthplace of the Saudi kingdom. The project features Riyadh limestone a sustainable and locally sourced material that blends seamlessly with the region s traditional architecture says Wajdi Marroun the Managing Director of Versatile International which is providing destination-scale developers with a stone management consultancy and project oversight service. Diriyah s pale sandy-hued mud-brick and stone buildings pay homage to its rich architectural heritage blending tradition with modern vision. Versatile International has been instrumental in incorp...
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As Saudi Arabia marks its 94th National Day today (September 23) celebrating a remarkable transformation since the launch of Vision 2030 the construction industry is playing a pivotal role in preserving the nation s heritage while shaping its future said a leading player in the sector. A prime example of this balance is the Diriyah Project a 63 billion development transforming the birthplace of the Saudi kingdom. The project features Riyadh limestone a sustainable and locally sourced material that blends seamlessly with the region s traditional architecture says Wajdi Marroun the Managing Director of Versatile International which is providing destination-scale developers with a stone management consultancy and project oversight service. Diriyah s pale sandy-hued mud-brick and stone buildings pay homage to its rich architectural heritage blending tradition with modern vision. Versatile International has been instrumental in incorp...
Jubail Island Investment Company (JIIC) has awarded a construction contract worth AED400 million ( 109 million) to Bright Accord General Contracting Company for the Jubail Town Centre in Souk Al Jubail the commercial and retail hub of Jubail Island. Strategically positioned at the heart of Jubail Island within Souk Al Jubail village Jubail Town Centre is a family-friendly lifestyle destination offering a modern vibrant environment that seamlessly blends wellbeing connectivity leisure retail and commercial services. On completion the Jubail Town Centre will boast a curated blend of retail F&B residential commercial offices a central plaza and top-class amenities to cater to all lifestyle needs including four office buildings and two residential buildings - Jubail Terraces buildings 7 and 8 said a statement from JIIC. The Town Centre will feature beautifu...
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Jubail Island Investment Company (JIIC) has awarded a construction contract worth AED400 million ( 109 million) to Bright Accord General Contracting Company for the Jubail Town Centre in Souk Al Jubail the commercial and retail hub of Jubail Island. Strategically positioned at the heart of Jubail Island within Souk Al Jubail village Jubail Town Centre is a family-friendly lifestyle destination offering a modern vibrant environment that seamlessly blends wellbeing connectivity leisure retail and commercial services. On completion the Jubail Town Centre will boast a curated blend of retail F&B residential commercial offices a central plaza and top-class amenities to cater to all lifestyle needs including four office buildings and two residential buildings - Jubail Terraces buildings 7 and 8 said a statement from JIIC. The Town Centre will feature beautifu...
Nakheel a member of Dubai Holding Real Estate has awarded an AED1.8 billion ( 490 million) contract to Alec Engineering & Contracting for the construction of its exclusive residential tower Como Residences on the Palm Jumeirah. Scheduled for handover in Q2 2028 the 75-storey residences will stand over 300 m tall and offer its residents 81 units ranging from two- to seven-bedroom apartments including a spacious duplex penthouse. A maximum of two apartments occupy each floor providing an exclusive lifestyle for residents served by access-controlled elevators leading to private lobbies said the Dubai developer in its statement. This distinctive design means that each apartment enjoys a breathtaking 180-degree view of the sea and skyline while apartments placed from level 23 and above have an extraordinary 360-degree panoramic view of Jumeirah Burj Al Arab to t...
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Nakheel a member of Dubai Holding Real Estate has awarded an AED1.8 billion ( 490 million) contract to Alec Engineering & Contracting for the construction of its exclusive residential tower Como Residences on the Palm Jumeirah. Scheduled for handover in Q2 2028 the 75-storey residences will stand over 300 m tall and offer its residents 81 units ranging from two- to seven-bedroom apartments including a spacious duplex penthouse. A maximum of two apartments occupy each floor providing an exclusive lifestyle for residents served by access-controlled elevators leading to private lobbies said the Dubai developer in its statement. This distinctive design means that each apartment enjoys a breathtaking 180-degree view of the sea and skyline while apartments placed from level 23 and above have an extraordinary 360-degree panoramic view of Jumeirah Burj Al Arab to t...
The Arab Shipbuilding and Repair Yard Company (ASRY) the leading ship and rig repair yard in the Arabian Gulf has concluded its participation in the fifth edition of the Saudi Maritime & Logistics Congress 2024. The event was held in Dhahran Expo Dammam Kingdom of Saudi Arabia from September 18 to 19. This conference is one of the largest regional gatherings of industry professionals in the maritime shipping and logistics sectors. It features a group of prominent speakers from industry leaders at both regional and international levels. The Saudi Maritime Congress serves as a gateway to the marine assets market in the Kingdom of Saudi Arabia and the wider region remarked Wael Mirza The Strategic Development Manager at ASRY. Founded in 1977 in the Kingdom of Bahrain ASRY is the Arabian Gulf s most exper...
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The Arab Shipbuilding and Repair Yard Company (ASRY) the leading ship and rig repair yard in the Arabian Gulf has concluded its participation in the fifth edition of the Saudi Maritime & Logistics Congress 2024. The event was held in Dhahran Expo Dammam Kingdom of Saudi Arabia from September 18 to 19. This conference is one of the largest regional gatherings of industry professionals in the maritime shipping and logistics sectors. It features a group of prominent speakers from industry leaders at both regional and international levels. The Saudi Maritime Congress serves as a gateway to the marine assets market in the Kingdom of Saudi Arabia and the wider region remarked Wael Mirza The Strategic Development Manager at ASRY. Founded in 1977 in the Kingdom of Bahrain ASRY is the Arabian Gulf s most exper...
The fischer Group of Companies a renowned German multinational manufacturer specialising in fastening products for the construction and DIY industry has reaffirmed its commitment to sustainable growth and international expansion. Operating through 52 subsidiaries with over 4 700 employees fischer recently hosted its second International Expert Forum (IEF) in Dubai. The event gathered industry leaders partners and experts to explore advancements in construction focusing on sustainability innovation and digital transformation. The forum emphasised fischer s commitment to sustainable construction practices. Attendees were introduced to the company s latest eco-friendly solutions aligning with global efforts to reduce the environmental impact of the industry. We are thrilled to host the IEF in Dubai a city recognised for its forward-thinking growth said Dr Ronald Mihala from fischer ...
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The fischer Group of Companies a renowned German multinational manufacturer specialising in fastening products for the construction and DIY industry has reaffirmed its commitment to sustainable growth and international expansion. Operating through 52 subsidiaries with over 4 700 employees fischer recently hosted its second International Expert Forum (IEF) in Dubai. The event gathered industry leaders partners and experts to explore advancements in construction focusing on sustainability innovation and digital transformation. The forum emphasised fischer s commitment to sustainable construction practices. Attendees were introduced to the company s latest eco-friendly solutions aligning with global efforts to reduce the environmental impact of the industry. We are thrilled to host the IEF in Dubai a city recognised for its forward-thinking growth said Dr Ronald Mihala from fischer ...
Saudi Arabia s substantial investments in infrastructure developments and giga projects continue to drive growth and resilience in the kingdom s real estate market with 27 500 residential units delivered in Riyadh and Jeddah in H1. This increases the total stock to about 1.46 million units in the capital and 891 000 units in Jeddah. Around 16 000 units each will be added to the stock in the two cities later this year. JLL s latest KSA Real Estate Market Dynamics Report states that the residential and hospitality sectors stood out for their strong performance in H1 2024 supported by the government s efforts to boost home ownership and the introduction of tourist visas the expansion of entertainment offerings and the promotion of sports and new experiences to position the kingdom as a global leisure destination. Residential sale prices experienced a noteworthy 10% year-on-year increase in ...
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Saudi Arabia s substantial investments in infrastructure developments and giga projects continue to drive growth and resilience in the kingdom s real estate market with 27 500 residential units delivered in Riyadh and Jeddah in H1. This increases the total stock to about 1.46 million units in the capital and 891 000 units in Jeddah. Around 16 000 units each will be added to the stock in the two cities later this year. JLL s latest KSA Real Estate Market Dynamics Report states that the residential and hospitality sectors stood out for their strong performance in H1 2024 supported by the government s efforts to boost home ownership and the introduction of tourist visas the expansion of entertainment offerings and the promotion of sports and new experiences to position the kingdom as a global leisure destination. Residential sale prices experienced a noteworthy 10% year-on-year increase in ...
Saudi Arabia s Vision 2030 is driving a staggering 1.3 trillion in investments across the kingdom s real estate infrastructure and transportation sectors with 164 billion worth of real estate contracts awarded the largest of which is for Neom ( 28.7 billion) said a report. Over 1 million new homes are planned by 2030 with around 4% already completed. 32.5% of the kingdom s new housing stock is planned in the capital according to Knight Frank s Saudi Arabia Giga Projects Report 2024. The tourism sector is set to soar aiming for 150 million visitors annually by 2030. With 362 000 new hotel rooms planned or under construction. Saudi Arabia welcomed 27.4 million international visitors in 2023 ranking it the 13th most visited country. These ambitious giga projects are reshaping the kingdom s urban landscape tourism and commercial sectors setting the...
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Saudi Arabia s Vision 2030 is driving a staggering 1.3 trillion in investments across the kingdom s real estate infrastructure and transportation sectors with 164 billion worth of real estate contracts awarded the largest of which is for Neom ( 28.7 billion) said a report. Over 1 million new homes are planned by 2030 with around 4% already completed. 32.5% of the kingdom s new housing stock is planned in the capital according to Knight Frank s Saudi Arabia Giga Projects Report 2024. The tourism sector is set to soar aiming for 150 million visitors annually by 2030. With 362 000 new hotel rooms planned or under construction. Saudi Arabia welcomed 27.4 million international visitors in 2023 ranking it the 13th most visited country. These ambitious giga projects are reshaping the kingdom s urban landscape tourism and commercial sectors setting the...
Gulf Warehousing Company (GWC) has been selected as the National Winner for Qatar in the Industrial Project of the Year category of this year s 2024 MEED Projects Awards. This prestigious recognition qualifies the company for the next phase where the Mena regional winners will be announced on November 20. GWC Managing Director Shaikh Abdulla Bin Fahad Bin Jassim Bin Jaber Al Thani said: We are honoured to receive the Industrial Project of the Year award a recognition that reflects the significance of Al Wukair Logistics Park in contributing to the diversification of Qatar s economy by supporting micro small and medium-sized enterprises (MSMEs). He added: Al Wukair Logistics Park serves as a successful public-private partnership model. As GWC is tasked with the construction operation and transfer (BOT) of the logistics park under a public-private-partner...
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Gulf Warehousing Company (GWC) has been selected as the National Winner for Qatar in the Industrial Project of the Year category of this year s 2024 MEED Projects Awards. This prestigious recognition qualifies the company for the next phase where the Mena regional winners will be announced on November 20. GWC Managing Director Shaikh Abdulla Bin Fahad Bin Jassim Bin Jaber Al Thani said: We are honoured to receive the Industrial Project of the Year award a recognition that reflects the significance of Al Wukair Logistics Park in contributing to the diversification of Qatar s economy by supporting micro small and medium-sized enterprises (MSMEs). He added: Al Wukair Logistics Park serves as a successful public-private partnership model. As GWC is tasked with the construction operation and transfer (BOT) of the logistics park under a public-private-partner...
The Global Logistics Forum (GLF) hosted by the Ministry of Transport and Logistic Services is set to gather industry leaders innovators and decision-makers in Riyadh from October 12 to 14 at the King Abdullah Financial District. The event expecting over 10 000 attendees will tackle some of the world s biggest logistics challenges focusing on infrastructure investment supply chain resilience sustainability and the future of logistics technology. Under the patronage of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud GLF 2024 will foster unprecedented international collaboration at a time of rapid transformation in the global logistics sector. New logistics hubs Saudi Arabia s recent advancements including new logistics hubs and growing influence over global tra...
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The Global Logistics Forum (GLF) hosted by the Ministry of Transport and Logistic Services is set to gather industry leaders innovators and decision-makers in Riyadh from October 12 to 14 at the King Abdullah Financial District. The event expecting over 10 000 attendees will tackle some of the world s biggest logistics challenges focusing on infrastructure investment supply chain resilience sustainability and the future of logistics technology. Under the patronage of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud GLF 2024 will foster unprecedented international collaboration at a time of rapid transformation in the global logistics sector. New logistics hubs Saudi Arabia s recent advancements including new logistics hubs and growing influence over global tra...
Construction and building activities in the UAE experienced a growth rate of 6.2 percent during the first quarter of this year compared with the same period last year according to the preliminary estimates issued by the Federal Competitiveness and Statistics Centre (FCSC). This growth reflects the several development projects initiated by the UAE government in early 2024. The sector saw a substantial rise in the government s public capital expenditures reaching AED4.8 billion ( 1.31 billion) said a Wam news agency report quoting the data. The UAE s real GDP reached AED430 billion ( 117.07 billion) in Q1 2024 recording a remarkable growth of 3.4 percent compared to the same period in 2023 according to the FCSC estimates. The non-oil GDP grew by 4 percent compared to the same period last year a Wam news agency report said. Construction a...
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Construction and building activities in the UAE experienced a growth rate of 6.2 percent during the first quarter of this year compared with the same period last year according to the preliminary estimates issued by the Federal Competitiveness and Statistics Centre (FCSC). This growth reflects the several development projects initiated by the UAE government in early 2024. The sector saw a substantial rise in the government s public capital expenditures reaching AED4.8 billion ( 1.31 billion) said a Wam news agency report quoting the data. The UAE s real GDP reached AED430 billion ( 117.07 billion) in Q1 2024 recording a remarkable growth of 3.4 percent compared to the same period in 2023 according to the FCSC estimates. The non-oil GDP grew by 4 percent compared to the same period last year a Wam news agency report said. Construction a...
Azizi Developments a leading private developer in the UAE has announced the completion of 40% construction of Beach Oasis its vibrant mixed-use community located in Dubai Studio City. Beach Oasis is scheduled for handover in Q2 of 2025. The structural build has now reached 96% while its blockwork MEP internal plastering and HVAC have reached 50% 19% 14% and 16% respectively with the total workforce having been increased to 1 318. Comprising 476 studios 200 one-bedroom homes and 36 two-bedroom residences spread across two buildings Beach Oasis is a modern low-rise residential community that also features an outstanding array of amenities including a large beach-like swimming pool the highlight of the project s central courtyard fully equipped gymnasiums landscaped gardens children s play areas and a central square with a multitude of retail options for the conveni...
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Azizi Developments a leading private developer in the UAE has announced the completion of 40% construction of Beach Oasis its vibrant mixed-use community located in Dubai Studio City. Beach Oasis is scheduled for handover in Q2 of 2025. The structural build has now reached 96% while its blockwork MEP internal plastering and HVAC have reached 50% 19% 14% and 16% respectively with the total workforce having been increased to 1 318. Comprising 476 studios 200 one-bedroom homes and 36 two-bedroom residences spread across two buildings Beach Oasis is a modern low-rise residential community that also features an outstanding array of amenities including a large beach-like swimming pool the highlight of the project s central courtyard fully equipped gymnasiums landscaped gardens children s play areas and a central square with a multitude of retail options for the conveni...
Construction has kicked off at a rapid pace on Phase One of the SAR7.3 billion ( 1.95 billion) groundbreaking mixed-use development The Avenues - Khobar in the Eastern Province of Saudi Arabia following the award of the construction contract to a Saudi-Kuwait joint venture last month (August). The contract was awarded by the developer Shomoul Holding Company - a subsidiary of Kuwait-based developer Mabanee - to a joint venture of Saudi group AlKifah Contracting Company and Kuwait-based Al Ahmadiah Contracting. Working alongside Kuwait-based regional architecture and engineering firm Pace the JV is working to bring to life this visionary project which is set to transform the landscape of Al Khobar city. In December 2023 Shomoul Holding signed an agreement with a banking consortium and the Saudi Tourism Development Fund to finance the first phase of the project. Led by Arab National Bank the banking consortium includes Saudi Awwal Bank (SAB) Riyad Bank and N...
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Construction has kicked off at a rapid pace on Phase One of the SAR7.3 billion ( 1.95 billion) groundbreaking mixed-use development The Avenues - Khobar in the Eastern Province of Saudi Arabia following the award of the construction contract to a Saudi-Kuwait joint venture last month (August). The contract was awarded by the developer Shomoul Holding Company - a subsidiary of Kuwait-based developer Mabanee - to a joint venture of Saudi group AlKifah Contracting Company and Kuwait-based Al Ahmadiah Contracting. Working alongside Kuwait-based regional architecture and engineering firm Pace the JV is working to bring to life this visionary project which is set to transform the landscape of Al Khobar city. In December 2023 Shomoul Holding signed an agreement with a banking consortium and the Saudi Tourism Development Fund to finance the first phase of the project. Led by Arab National Bank the banking consortium includes Saudi Awwal Bank (SAB) Riyad Bank and N...
Noatum Logistics an AD Ports Group company and a leading logistics provider has announced the launch of its new rail logistics solution for the Middle East region. The new offering which complements Noatum Logistics integrated regional portfolio of freight forwarding products leveraging land sea and air transport was inaugurated with the launch of its first rail shuttle service between Khalifa Port and Fujairah Terminals. The shuttle service which uses the UAE s national railway developed and operated by Etihad Rail aims to add significant capacity to the regional logistics network and provide optionality to customers transporting large volumes of overland freight. Weekly services Specifically the service will offer weekly departures capable of carrying of up to 156 Twenty-Foot Equi...
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Noatum Logistics an AD Ports Group company and a leading logistics provider has announced the launch of its new rail logistics solution for the Middle East region. The new offering which complements Noatum Logistics integrated regional portfolio of freight forwarding products leveraging land sea and air transport was inaugurated with the launch of its first rail shuttle service between Khalifa Port and Fujairah Terminals. The shuttle service which uses the UAE s national railway developed and operated by Etihad Rail aims to add significant capacity to the regional logistics network and provide optionality to customers transporting large volumes of overland freight. Weekly services Specifically the service will offer weekly departures capable of carrying of up to 156 Twenty-Foot Equi...
Saudi Aramco in collaboration with leading real estate company ROSHN has announced the commencement of construction on Aramco Stadium Al Khobar s new 47 000-spectator stadium. The stadium is planned to meet international standards for the world s premier football competitions such as the 2027 AFC Asian Cup the FIFA World Cup 2034 which Saudi Arabia is bidding to host as well as other showpiece entertainment events. Dar Al-Handasah Consultants (Shair and Partners) Dar was responsible for developing and delivering the detailed design of this iconic new stadium actualising the signature architect s vision of a stunning new structure inspired by the natural environment. Dar also delivered the detailed design of the mixed-use masterplan facilities and infrastructure. Detailed de...
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Saudi Aramco in collaboration with leading real estate company ROSHN has announced the commencement of construction on Aramco Stadium Al Khobar s new 47 000-spectator stadium. The stadium is planned to meet international standards for the world s premier football competitions such as the 2027 AFC Asian Cup the FIFA World Cup 2034 which Saudi Arabia is bidding to host as well as other showpiece entertainment events. Dar Al-Handasah Consultants (Shair and Partners) Dar was responsible for developing and delivering the detailed design of this iconic new stadium actualising the signature architect s vision of a stunning new structure inspired by the natural environment. Dar also delivered the detailed design of the mixed-use masterplan facilities and infrastructure. Detailed de...
Konvi Europe s leading luxury assets fractional investment platform has announced plans to enter the real estate market in the UAE opening up investment opportunities in the country s luxury property boom to all. The UAE s luxury real estate scene is thriving and is expected to grow throughout 2024 despite a weakening outlook on the property market globally. Dubai s property scene is taking off with home values rising for 15 consecutive quarters and skyrocketing 20% for the year up to May while rents have climbed for 13 straight quarters a company statement said. In Abu Dhabi the all-residential property price index soared by 7.53% in Q1 2024 from a year earlier. Demand is surging with both cities shattering record highs for transactions in 2023 driven by strong economic fundamentals government initiatives and increasing demand from global investors. The UAE is solidifying its st...
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Konvi Europe s leading luxury assets fractional investment platform has announced plans to enter the real estate market in the UAE opening up investment opportunities in the country s luxury property boom to all. The UAE s luxury real estate scene is thriving and is expected to grow throughout 2024 despite a weakening outlook on the property market globally. Dubai s property scene is taking off with home values rising for 15 consecutive quarters and skyrocketing 20% for the year up to May while rents have climbed for 13 straight quarters a company statement said. In Abu Dhabi the all-residential property price index soared by 7.53% in Q1 2024 from a year earlier. Demand is surging with both cities shattering record highs for transactions in 2023 driven by strong economic fundamentals government initiatives and increasing demand from global investors. The UAE is solidifying its st...
Over the years the incorporation of digital technology in the construction sector and modern methods of construction have been considered crucial for closing critical gaps and increasing productivity. In the How We Build Now report done by Procore 80 percent of decision-makers stated that due to the volatility of the current industry and the economy the level of investments in digital transformation has increased in the previous three to six months. It shows a significant trend toward prioritising technological advancements to drive growth and efficiency within the sector. This is evident in the UAE where government entities such as Dubai Municipality and leading construction technology providers such as Procore have kept pace with the shifting tides of the sector to address concerns and at the same time support and enhance project efficiency delivery collaboration safety profitability and c...
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Over the years the incorporation of digital technology in the construction sector and modern methods of construction have been considered crucial for closing critical gaps and increasing productivity. In the How We Build Now report done by Procore 80 percent of decision-makers stated that due to the volatility of the current industry and the economy the level of investments in digital transformation has increased in the previous three to six months. It shows a significant trend toward prioritising technological advancements to drive growth and efficiency within the sector. This is evident in the UAE where government entities such as Dubai Municipality and leading construction technology providers such as Procore have kept pace with the shifting tides of the sector to address concerns and at the same time support and enhance project efficiency delivery collaboration safety profitability and c...
Swisslog a global leader in innovative robotic data-driven and flexible automated solutions will present a dynamic demo of its cutting-edge solution AutoStore at Saudi Logistics Expo 2024 from September 2 to 4. The demo is expected to provide visitors with an opportunity to experience firsthand the efficiency and precision of automated storage and order processing. The expo is Saudi Arabia s largest platform dedicated to supply chain warehousing and logistics bringing together over 11 000 industry professionals and showcasing the latest in innovative technologies and solutions. New standards Swisslog will show how AutoStore integrates with existing infrastructures effortlessly meeting the surging demand for rapid precise and reliable order fulfilment. As a leading global and regional logistics provide...
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Swisslog a global leader in innovative robotic data-driven and flexible automated solutions will present a dynamic demo of its cutting-edge solution AutoStore at Saudi Logistics Expo 2024 from September 2 to 4. The demo is expected to provide visitors with an opportunity to experience firsthand the efficiency and precision of automated storage and order processing. The expo is Saudi Arabia s largest platform dedicated to supply chain warehousing and logistics bringing together over 11 000 industry professionals and showcasing the latest in innovative technologies and solutions. New standards Swisslog will show how AutoStore integrates with existing infrastructures effortlessly meeting the surging demand for rapid precise and reliable order fulfilment. As a leading global and regional logistics provide...
Diyar Al Muharraq Bahrain s largest real estate firm has appointed ASK Real Estate to provide comprehensive executive management support services for the Al Naseem Community. ASK Real Estate will oversee daily operations maintain common areas and offer strategic advice on community management. The company has also been entrusted to manage all financial aspects related to the community s operations. Held at Diyar Al Muharraq headquarters the signing ceremony for this collaboration was attended by Majed Al Khan Chairman of the Board of Directors of ASK Real Estate Karim Yazji Chief Executive Officer of ASK Real Estate Eng Ahmed Ali Alammadi Chief Executive Officer of Diyar Al Muharraq and other officials from both companies. Vibrant safe and well-managed Al Khan said: We are deligh...
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Diyar Al Muharraq Bahrain s largest real estate firm has appointed ASK Real Estate to provide comprehensive executive management support services for the Al Naseem Community. ASK Real Estate will oversee daily operations maintain common areas and offer strategic advice on community management. The company has also been entrusted to manage all financial aspects related to the community s operations. Held at Diyar Al Muharraq headquarters the signing ceremony for this collaboration was attended by Majed Al Khan Chairman of the Board of Directors of ASK Real Estate Karim Yazji Chief Executive Officer of ASK Real Estate Eng Ahmed Ali Alammadi Chief Executive Officer of Diyar Al Muharraq and other officials from both companies. Vibrant safe and well-managed Al Khan said: We are deligh...
The Endowments and Awqaf and Minors Affairs Foundation (AWQAF Dubai) has announced the development of 21 endowment real estate projects valued at over AED202 million ( 55 million) in line with Dubai s commitment to expand and diversify endowment investments a report said. These projects include malls residential buildings shops and mosques which are currently at various stages of design and implementation Emirates News Agency WAM said. The endowment real estate projects encompass a range of purposes including educational and humanitarian buildings general charitable contributions and mosque endowments. These projects are funded via contributions and donations from endowment backers in addition to the reconstruction portfolio. AWQAF Dubai said that construction timelines for the 21 endowment projects range from one to two years. The developments are strategically located in key areas of central Dubai. ...
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The Endowments and Awqaf and Minors Affairs Foundation (AWQAF Dubai) has announced the development of 21 endowment real estate projects valued at over AED202 million ( 55 million) in line with Dubai s commitment to expand and diversify endowment investments a report said. These projects include malls residential buildings shops and mosques which are currently at various stages of design and implementation Emirates News Agency WAM said. The endowment real estate projects encompass a range of purposes including educational and humanitarian buildings general charitable contributions and mosque endowments. These projects are funded via contributions and donations from endowment backers in addition to the reconstruction portfolio. AWQAF Dubai said that construction timelines for the 21 endowment projects range from one to two years. The developments are strategically located in key areas of central Dubai. ...
Savoye a leading global warehouse automation integrator and software publisher will showcase its comprehensive suite of advanced solutions at the first edition of the Saudi Warehousing & Logistics Expo Riyadh. The event from September 2 to 4 2024 is poised to drive the adoption of advanced technologies within the Kingdom of Saudi Arabia s (KSA) supply chain and logistics sector. Prominent industry leaders and innovators will convene at the event spearheading crucial discussions on the industry s future. Savoye will leverage this platform to showcase its advanced solutions designed to address fulfilment challenges in logistics sector with a focus on retail eCommerce pharma grocery and small parts distribution. Beyond these industry-specific solutions Savoye will highlight its advanced warehouse automation (goods-to-person robotics systems ASRS packing machines conveyors etc...
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Savoye a leading global warehouse automation integrator and software publisher will showcase its comprehensive suite of advanced solutions at the first edition of the Saudi Warehousing & Logistics Expo Riyadh. The event from September 2 to 4 2024 is poised to drive the adoption of advanced technologies within the Kingdom of Saudi Arabia s (KSA) supply chain and logistics sector. Prominent industry leaders and innovators will convene at the event spearheading crucial discussions on the industry s future. Savoye will leverage this platform to showcase its advanced solutions designed to address fulfilment challenges in logistics sector with a focus on retail eCommerce pharma grocery and small parts distribution. Beyond these industry-specific solutions Savoye will highlight its advanced warehouse automation (goods-to-person robotics systems ASRS packing machines conveyors etc...
Gulf Warehousing Company (GWC) one of the fastest-growing logistics businesses in the Mena region has announced that its wholly-owned subsidiary FLAG Logistics has received four prestigious ISO certifications. FLAG Logistics has been awarded ISO 28000:2022 for Security Management System (SMS) along with three ISO Certifications for its Integrated Management System (IMS) which includes ISO 9001:2015 for Quality Management System (QMS) ISO 14001:2015 for environmental management systems (EMS) and ISO 45001:2018 for occupational health and safety management systems a GWC release said. These certifications were granted following a rigorous external audit during which the company demonstrated full compliance with all requirements. Best practice framework The ISO 28000 - 2022 standard provides a best pract...
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Gulf Warehousing Company (GWC) one of the fastest-growing logistics businesses in the Mena region has announced that its wholly-owned subsidiary FLAG Logistics has received four prestigious ISO certifications. FLAG Logistics has been awarded ISO 28000:2022 for Security Management System (SMS) along with three ISO Certifications for its Integrated Management System (IMS) which includes ISO 9001:2015 for Quality Management System (QMS) ISO 14001:2015 for environmental management systems (EMS) and ISO 45001:2018 for occupational health and safety management systems a GWC release said. These certifications were granted following a rigorous external audit during which the company demonstrated full compliance with all requirements. Best practice framework The ISO 28000 - 2022 standard provides a best pract...
The Saudi Real Estate Refinance Company (SRC) a subsidiary of the Public Investment Fund has signed a memorandum of understanding (MoU) with the US BlackRock conglomerate in New York City to develop products in the real estate finance market in Saudi Arabia and increase the share of businesses in the real estate sector capital markets. The MoU was signed on the sidelines of the official visit of Saudi Minister of Municipalities and Housing Majid bin Abdullah Al-Hogail who is also SRC Board of Directors Chairman said a Saudi Press Agency report. The minister and his accompanying delegation are in the US to discuss ways to boost Saudi-American partnerships in the urban development construction building finance and real estate development sectors. The agreement was signed by SRC CEO Majid Fahd Al-Abduljabbar and General Manager of BlackRock in the Middle and CEO of BlackRock...
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The Saudi Real Estate Refinance Company (SRC) a subsidiary of the Public Investment Fund has signed a memorandum of understanding (MoU) with the US BlackRock conglomerate in New York City to develop products in the real estate finance market in Saudi Arabia and increase the share of businesses in the real estate sector capital markets. The MoU was signed on the sidelines of the official visit of Saudi Minister of Municipalities and Housing Majid bin Abdullah Al-Hogail who is also SRC Board of Directors Chairman said a Saudi Press Agency report. The minister and his accompanying delegation are in the US to discuss ways to boost Saudi-American partnerships in the urban development construction building finance and real estate development sectors. The agreement was signed by SRC CEO Majid Fahd Al-Abduljabbar and General Manager of BlackRock in the Middle and CEO of BlackRock...
The real estate sector across the GCC region is expected to maintain its upward momentum reinforced by strong macroeconomic fundamentals supportive government policies and increasing investor interest according to industry expert Markaz Real Estate In its latest real estate reports Markaz has forecast a positive outlook for the real estate markets in Kuwait Saudi Arabia and the UAE in H2 2024. The scores in the Markaz GCC Macro Index for the second half of 2024 are projected at 3.5 for Kuwait 3.7 for Saudi Arabia and 3.6 for UAE. These comprehensive reports developed by Markaz Mena Real Estate team and Marmore Mena Intelligence the research arm of Markaz offer a detailed analysis of the real estate sector s performance during H1 2024 and present an optimistic forecast for H2 2024. The positive projections are based o...
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The real estate sector across the GCC region is expected to maintain its upward momentum reinforced by strong macroeconomic fundamentals supportive government policies and increasing investor interest according to industry expert Markaz Real Estate In its latest real estate reports Markaz has forecast a positive outlook for the real estate markets in Kuwait Saudi Arabia and the UAE in H2 2024. The scores in the Markaz GCC Macro Index for the second half of 2024 are projected at 3.5 for Kuwait 3.7 for Saudi Arabia and 3.6 for UAE. These comprehensive reports developed by Markaz Mena Real Estate team and Marmore Mena Intelligence the research arm of Markaz offer a detailed analysis of the real estate sector s performance during H1 2024 and present an optimistic forecast for H2 2024. The positive projections are based o...
The Saudi Real Estate Refinance Company (SRC) a Public Investment Fund (PIF) Company signed a memorandum of understanding (MoU) in New York City on August 23 with King Street Capital Management to foster cooperation and strategic partnership between the two parties in the real estate finance sector. The MoU signed by Majeed Fahd Al-Abdul Jabbar CEO of the SRC and Brian J Higgins Managing Partner of King Street was part of a visit of the Minister of Municipalities and Housing and Chairman of SRC Majed bin Abdullah Al-Hogail to the United States. The visit hopes to explore ways to enhance partnership and cooperation between the two countries in the sectors of urban development construction building finance and real estate development. The memorandum aims to diversify liquidity sources to support the secondary real estate finance market s stability foster economic growth and attract more foreign investments to the Saudi market which in...
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The Saudi Real Estate Refinance Company (SRC) a Public Investment Fund (PIF) Company signed a memorandum of understanding (MoU) in New York City on August 23 with King Street Capital Management to foster cooperation and strategic partnership between the two parties in the real estate finance sector. The MoU signed by Majeed Fahd Al-Abdul Jabbar CEO of the SRC and Brian J Higgins Managing Partner of King Street was part of a visit of the Minister of Municipalities and Housing and Chairman of SRC Majed bin Abdullah Al-Hogail to the United States. The visit hopes to explore ways to enhance partnership and cooperation between the two countries in the sectors of urban development construction building finance and real estate development. The memorandum aims to diversify liquidity sources to support the secondary real estate finance market s stability foster economic growth and attract more foreign investments to the Saudi market which in...
AP Moller Maersk (Maersk) a global shipping major headquartered in Denmark has announced that it has joined hands with Saudi General Ports Authority of Saudi Arabia (Mawani) for opening of its largest logistics park in the Middle East at Jeddah Islamic Port. The 225 000 sq m facility which is the largest single-site logistics & services facility in the region has built at an investment of 250 million said Maersk in a statement. The new logistics park will contribute to service and development in supporting economic activity in the kingdom and providing highly efficient logistics services to support the movement of trade and export to foreign markets and enhance the work of supply chains and logistics it stated. An eco-friendly complex it will draw up to 70% of the electricity from 32 000 solar panels installed over 64 000 sq m. on the rooftop. ...
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AP Moller Maersk (Maersk) a global shipping major headquartered in Denmark has announced that it has joined hands with Saudi General Ports Authority of Saudi Arabia (Mawani) for opening of its largest logistics park in the Middle East at Jeddah Islamic Port. The 225 000 sq m facility which is the largest single-site logistics & services facility in the region has built at an investment of 250 million said Maersk in a statement. The new logistics park will contribute to service and development in supporting economic activity in the kingdom and providing highly efficient logistics services to support the movement of trade and export to foreign markets and enhance the work of supply chains and logistics it stated. An eco-friendly complex it will draw up to 70% of the electricity from 32 000 solar panels installed over 64 000 sq m. on the rooftop. ...
In a strategic move aimed at revolutionising UAE s real estate investment landscape Dubai-based Meteora Developers has announced the multi-million dollars acquisition deal of Maisour a DIFC-based property crowdfunding platform. Maisour s innovative model of digital fractional ownership has made it possible for people from around the world to invest in Dubai properties with as little as AED500. This acquisition aligns with both companies visions to democratise real estate investment and capitalise on Dubai s booming property market. Meteora Developers pointed out that this acquisition allows to integrate its vast expertise and stellar reputation in the real estate market with Maisour s tech-driven platform offering a broader and more diverse range of real estate investment opportunities. By lowering the initial investment barrier and enabling o...
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In a strategic move aimed at revolutionising UAE s real estate investment landscape Dubai-based Meteora Developers has announced the multi-million dollars acquisition deal of Maisour a DIFC-based property crowdfunding platform. Maisour s innovative model of digital fractional ownership has made it possible for people from around the world to invest in Dubai properties with as little as AED500. This acquisition aligns with both companies visions to democratise real estate investment and capitalise on Dubai s booming property market. Meteora Developers pointed out that this acquisition allows to integrate its vast expertise and stellar reputation in the real estate market with Maisour s tech-driven platform offering a broader and more diverse range of real estate investment opportunities. By lowering the initial investment barrier and enabling o...
Saudi Maritime & Logistics Congress from September 18 to 19 has become a key regional forum for the exchange of ideas between the brightest and best the industry has to offer. As thousands of shipping professionals prepare to gather in Dammam this September for Saudi Maritime & Logistics Congress 2024 the Kingdom s Transport General Authority (TGA) has advised attendees: The reasons for attending are obvious: you get to be part of the conversation. Throughout the course of the event participants will allow networking between thousands of attendees from across the globe and at every level of the industry. Speaking to Seatrade Maritime organisers of the event ahead of the global gathering Eng Essam M Alammari Deputy for Maritime Transport TGA Saudi Arabia added: We have seen a progressive growth in attendance which stood at an impressive 95% in 2023. From policy m...
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Saudi Maritime & Logistics Congress from September 18 to 19 has become a key regional forum for the exchange of ideas between the brightest and best the industry has to offer. As thousands of shipping professionals prepare to gather in Dammam this September for Saudi Maritime & Logistics Congress 2024 the Kingdom s Transport General Authority (TGA) has advised attendees: The reasons for attending are obvious: you get to be part of the conversation. Throughout the course of the event participants will allow networking between thousands of attendees from across the globe and at every level of the industry. Speaking to Seatrade Maritime organisers of the event ahead of the global gathering Eng Essam M Alammari Deputy for Maritime Transport TGA Saudi Arabia added: We have seen a progressive growth in attendance which stood at an impressive 95% in 2023. From policy m...
Dubai Multi Commodities Centre (DMCC) has recorded 1 023 new member company registrations in the first half (H1) to take its total to almost 25 000 companies across its business district. DMCC now accounts for 15% of all foreign direct investment (FDI) in Dubai up from 11% last year as well as 7% of the emirate s GDP. As part of its efforts to attract the next wave of global investment to Dubai DMCC s focus for the second half of 2024 remains the consolidation of its major real estate developments in Uptown Dubai and Jumeirah Lakes Towers (JLT) as well as the strategic expansion of its network of ecosystems in high-value sectors such as AI and Web3. Curated services offering Ahmed Bin Sulayem Executive Chairman and Chief Executive Officer DMCC said: Now accounting for 15% o...
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Dubai Multi Commodities Centre (DMCC) has recorded 1 023 new member company registrations in the first half (H1) to take its total to almost 25 000 companies across its business district. DMCC now accounts for 15% of all foreign direct investment (FDI) in Dubai up from 11% last year as well as 7% of the emirate s GDP. As part of its efforts to attract the next wave of global investment to Dubai DMCC s focus for the second half of 2024 remains the consolidation of its major real estate developments in Uptown Dubai and Jumeirah Lakes Towers (JLT) as well as the strategic expansion of its network of ecosystems in high-value sectors such as AI and Web3. Curated services offering Ahmed Bin Sulayem Executive Chairman and Chief Executive Officer DMCC said: Now accounting for 15% o...
Al Habtoor Group a pioneer in the construction and real estate industry has announced that steady progress is being made on its premium luxury development - Al Habtoor Tower - in Dubai with more than 30% of the work already completed. Poised to become a new icon on Dubai s skyline Al Habtoor Tower has within its first year established unprecedented benchmarks in construction utilising 100-m-deep barette foundations - a world record. The project boasts an innovative six-day floor cycle time for construction above ground showcasing the rapid pace and efficiency maintained despite the complex structural demands. The Habtoor Group said this landmark project was setting new standards in architectural design and construction excellence. The project has achieved 33 per cent completion and has accumulated over 2.5 million workin...
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Al Habtoor Group a pioneer in the construction and real estate industry has announced that steady progress is being made on its premium luxury development - Al Habtoor Tower - in Dubai with more than 30% of the work already completed. Poised to become a new icon on Dubai s skyline Al Habtoor Tower has within its first year established unprecedented benchmarks in construction utilising 100-m-deep barette foundations - a world record. The project boasts an innovative six-day floor cycle time for construction above ground showcasing the rapid pace and efficiency maintained despite the complex structural demands. The Habtoor Group said this landmark project was setting new standards in architectural design and construction excellence. The project has achieved 33 per cent completion and has accumulated over 2.5 million workin...
The real estate market in Sharjah continues its growth achieving a trading value of AED3.9 billion ( 1.1 billion) in prime areas of the emirate during July 2024 according to the Real Estate Market Performance Report issued by Sharjah Real Estate Registration Department. The total number of transactions reached 4 146 while the total area traded in sales transactions reached 13.8 million sq ft during the same period. These results confirm the attractiveness of the real estate market in Sharjah and its growing ability to attract local Arab and foreign investors alike. It presents multiple investment options strong infrastructure and a fair regulatory legislation which all together provide strong opportunities for investors. All these distinguished features are accompanied by many new real estate projects launched by the public and private sectors in many area...
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The real estate market in Sharjah continues its growth achieving a trading value of AED3.9 billion ( 1.1 billion) in prime areas of the emirate during July 2024 according to the Real Estate Market Performance Report issued by Sharjah Real Estate Registration Department. The total number of transactions reached 4 146 while the total area traded in sales transactions reached 13.8 million sq ft during the same period. These results confirm the attractiveness of the real estate market in Sharjah and its growing ability to attract local Arab and foreign investors alike. It presents multiple investment options strong infrastructure and a fair regulatory legislation which all together provide strong opportunities for investors. All these distinguished features are accompanied by many new real estate projects launched by the public and private sectors in many area...
Saudi-based Fakeeh Care Group has announced that its key subsidiary - Dr Soliman Abdulqader Fakeeh Hospital Company (DSFH) - has signed up Advanced Horizons Contracting Company for the construction of its new medical centre in Makkah with a total built-up area of 14 400 sq m. Under this SAR104.1 million ( 28 million) contract Advanced Horizons Contracting will be responsible for construction electromechanical and finishing works said Fakeeh Care Group in its filing to Saudi bourse Tadawul. The entire work will be competed by AHC a key subsidiary of DSFH within 18 months it stated. According to the Saudi group the excavation shoring and dewatering works for the project have already been completed. Once ready the new 2 450-sq-m healthcare facility will offer the local community 20 clinics covering all specialties an expanded ER d...
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Saudi-based Fakeeh Care Group has announced that its key subsidiary - Dr Soliman Abdulqader Fakeeh Hospital Company (DSFH) - has signed up Advanced Horizons Contracting Company for the construction of its new medical centre in Makkah with a total built-up area of 14 400 sq m. Under this SAR104.1 million ( 28 million) contract Advanced Horizons Contracting will be responsible for construction electromechanical and finishing works said Fakeeh Care Group in its filing to Saudi bourse Tadawul. The entire work will be competed by AHC a key subsidiary of DSFH within 18 months it stated. According to the Saudi group the excavation shoring and dewatering works for the project have already been completed. Once ready the new 2 450-sq-m healthcare facility will offer the local community 20 clinics covering all specialties an expanded ER d...
The International Conference on Maritime Logistics and Ports (ICMLP) 2024 will be held at the Putrajaya International Convention Centre from September 3 to 5 in Putrajaya Malaysia bringing together thought leaders industry experts and innovators from around the globe. The Netherlands Maritime University College (NMUC) collaborates with the Port Training Institute (PTI) of the Arab Academy for Science Technology and Maritime Transport (AASTMT) STC International in organising the event. It is co-organised by MY Iskandar Sdn Bhd (MISB) and the Chartered Institute of Logistics and Transport (CILT). ICMLP 2024 will provide a platform for exchanging ideas and best practices in maritime logistics port management supply chain management and transportation. The conference will cover themes such as emerging markets in port development maritime law risk management in maritime and logistics smart ports green sh...
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The International Conference on Maritime Logistics and Ports (ICMLP) 2024 will be held at the Putrajaya International Convention Centre from September 3 to 5 in Putrajaya Malaysia bringing together thought leaders industry experts and innovators from around the globe. The Netherlands Maritime University College (NMUC) collaborates with the Port Training Institute (PTI) of the Arab Academy for Science Technology and Maritime Transport (AASTMT) STC International in organising the event. It is co-organised by MY Iskandar Sdn Bhd (MISB) and the Chartered Institute of Logistics and Transport (CILT). ICMLP 2024 will provide a platform for exchanging ideas and best practices in maritime logistics port management supply chain management and transportation. The conference will cover themes such as emerging markets in port development maritime law risk management in maritime and logistics smart ports green sh...
The total value of awarded contracts in Saudi Arabia for the first quarter soared to SAR119 billion ( 32 billion) thus recording a 79% growth over last year while on a quarter-on-quarter basis the value of contracts grew by 35% according to a report by the US-Saudi Business Council (USSBC). Sector-wise the oil and gas sector ominated the scene walking away with the lion s share of contracts worth SAR51.2 billion ( 13.7 billion) followed by real estate which climbed to the second spot with awarded contracts worth SAR24.4 billion ( 6.5 billion) and the water sector at the third spot with SAR24 billion ( 6.4 billion) contracts. The USSBC Contract Awards Index ascended to 415.89 points as the sector witnessed a surge in contract values which has elevated the CAI above the 200-point mark for 18 consecutive months. ...
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The total value of awarded contracts in Saudi Arabia for the first quarter soared to SAR119 billion ( 32 billion) thus recording a 79% growth over last year while on a quarter-on-quarter basis the value of contracts grew by 35% according to a report by the US-Saudi Business Council (USSBC). Sector-wise the oil and gas sector ominated the scene walking away with the lion s share of contracts worth SAR51.2 billion ( 13.7 billion) followed by real estate which climbed to the second spot with awarded contracts worth SAR24.4 billion ( 6.5 billion) and the water sector at the third spot with SAR24 billion ( 6.4 billion) contracts. The USSBC Contract Awards Index ascended to 415.89 points as the sector witnessed a surge in contract values which has elevated the CAI above the 200-point mark for 18 consecutive months. ...
Efficio a global leader in capital planning procurement delivery and supply chain management is advising and formulating policy for a range of regional organisations to improve bankability for their capital portfolios. The consultancy with a dedicated capital projects and infrastructure practice also promises to ensure efficient delivery with the best value and quality from suppliers at a time when governments and private sector companies in the Middle East are set for a fierce battle over the construction industry supply market for the next decade. Efficio is currently involved in GCC construction projects worth 390 billion a figure set to increase towards the end of the year as existing projects gather pace and new ones are launched. According to David Mooney Vice President and MENA lead at Efficio who oversees the high-quality delivery of its services and strategic growth in the Middle East the construction industry has made a very...
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Efficio a global leader in capital planning procurement delivery and supply chain management is advising and formulating policy for a range of regional organisations to improve bankability for their capital portfolios. The consultancy with a dedicated capital projects and infrastructure practice also promises to ensure efficient delivery with the best value and quality from suppliers at a time when governments and private sector companies in the Middle East are set for a fierce battle over the construction industry supply market for the next decade. Efficio is currently involved in GCC construction projects worth 390 billion a figure set to increase towards the end of the year as existing projects gather pace and new ones are launched. According to David Mooney Vice President and MENA lead at Efficio who oversees the high-quality delivery of its services and strategic growth in the Middle East the construction industry has made a very...
Dubai s Roads and Transport Authority (RTA) has completed the construction of 10 out of 16 Truck Rest Stops in cooperation with the Abu Dhabi National Oil Company (ADNOC). These facilities strategically distributed across six key locations including Sheikh Mohammed bin Zayed Road Emirates Road Dubai - Hatta Road Dubai - Al Ain Road Jebel Ali - Lehbab Road and Al Awir Road all of which attract a high volume of daily truck traffic. The rest areas cover over 75 000 sq m with an operational capacity exceeding 5 000 trucks and heavy vehicles and 700 parking slots. Each rest area spans 5 000 to 10 000 sq m with the capacity to accommodate 30 to 45 trucks and heavy vehicles. The facilities include service amenities prayer rooms diesel refueling stations and driver rest rooms. Last year RTA had signed an agreement with Adnoc to construct and operate an integra...
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Dubai s Roads and Transport Authority (RTA) has completed the construction of 10 out of 16 Truck Rest Stops in cooperation with the Abu Dhabi National Oil Company (ADNOC). These facilities strategically distributed across six key locations including Sheikh Mohammed bin Zayed Road Emirates Road Dubai - Hatta Road Dubai - Al Ain Road Jebel Ali - Lehbab Road and Al Awir Road all of which attract a high volume of daily truck traffic. The rest areas cover over 75 000 sq m with an operational capacity exceeding 5 000 trucks and heavy vehicles and 700 parking slots. Each rest area spans 5 000 to 10 000 sq m with the capacity to accommodate 30 to 45 trucks and heavy vehicles. The facilities include service amenities prayer rooms diesel refueling stations and driver rest rooms. Last year RTA had signed an agreement with Adnoc to construct and operate an integra...
The real estate transaction values in Bahrain have recorded an overall increase for the first half of the year with mixed sectoral performances according to CBRE Middle East the global leader in commercial real estate services and investments. Looking at Bahrain s residential sector sales rates of villas increased by 7.8% on a square metre basis compared to 2023 rates while apartment sales remained consistent during the same period following a period of growth since 2021 stated CBRE in its latest edition of the Bahrain Real Estate Market Review for the first half of 2024. According to the real estate expert Bahrain s villa market is driven predominantly by local demand with citizens largely seeking affordable units while international buyers represent the main offering for mid-to-high-end apartments in foreign investment zones. div...
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The real estate transaction values in Bahrain have recorded an overall increase for the first half of the year with mixed sectoral performances according to CBRE Middle East the global leader in commercial real estate services and investments. Looking at Bahrain s residential sector sales rates of villas increased by 7.8% on a square metre basis compared to 2023 rates while apartment sales remained consistent during the same period following a period of growth since 2021 stated CBRE in its latest edition of the Bahrain Real Estate Market Review for the first half of 2024. According to the real estate expert Bahrain s villa market is driven predominantly by local demand with citizens largely seeking affordable units while international buyers represent the main offering for mid-to-high-end apartments in foreign investment zones. div...
Mapei Group a leading Italian manufacturer of chemical products for the building industry has announced the launch of its sustainable Zero line products in the Middle East and Africa (MEA) region. With 60% increase in global sales of its Zero product range in 2023 the line underscores the rising market demand for environmentally friendly solutions regionally said the company in a statement. Mapei s Zero line in the UAE and the wider region includes a dynamic range of construction products across Ceramics and Natural Stone Cleaning Maintaining and Protecting Surfaces Waterproofing Concrete Repair and other business lines. Committed to reducing the carbon dioxide (CO2) emissions generated by its products Mapei expects to compensate for more than 10 000 tonnes of CO2 emissions in carbon credits across operating MEA markets. /d...
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Mapei Group a leading Italian manufacturer of chemical products for the building industry has announced the launch of its sustainable Zero line products in the Middle East and Africa (MEA) region. With 60% increase in global sales of its Zero product range in 2023 the line underscores the rising market demand for environmentally friendly solutions regionally said the company in a statement. Mapei s Zero line in the UAE and the wider region includes a dynamic range of construction products across Ceramics and Natural Stone Cleaning Maintaining and Protecting Surfaces Waterproofing Concrete Repair and other business lines. Committed to reducing the carbon dioxide (CO2) emissions generated by its products Mapei expects to compensate for more than 10 000 tonnes of CO2 emissions in carbon credits across operating MEA markets. /d...
UAE-based Reportage Properties has joined forces with Turkish group Mesa Holding and Azeri investment company Sabah to launch a new venture - RMS Capital Investment - that will focus on boosting investments in the global real estate market. The new venture set up by leading real estate companies of Turkey UAE and Azerbaijan aims to achieve remarkable success not only regionally but also globally with innovative and sustainable projects in the sector. It will strive to offer the highest value to its customers and business partners with future projects and investments said the company in a statement. In the RMS Capital Investment partnership structure Reportage will hold a 34% stake while MESA and Sabah Investment Group will each have 33% stake. The trio will develop partnership projects in Dubai Istanbul and Baku in 2024 and 2025 at a to...
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UAE-based Reportage Properties has joined forces with Turkish group Mesa Holding and Azeri investment company Sabah to launch a new venture - RMS Capital Investment - that will focus on boosting investments in the global real estate market. The new venture set up by leading real estate companies of Turkey UAE and Azerbaijan aims to achieve remarkable success not only regionally but also globally with innovative and sustainable projects in the sector. It will strive to offer the highest value to its customers and business partners with future projects and investments said the company in a statement. In the RMS Capital Investment partnership structure Reportage will hold a 34% stake while MESA and Sabah Investment Group will each have 33% stake. The trio will develop partnership projects in Dubai Istanbul and Baku in 2024 and 2025 at a to...
Mazad a local portfolio company of Bahrain Mumtalakat Holding Company has announced a strategic partnership with Kanoo Real Estate a subsidiary of the Yusuf bin Ahmed Kanoo Group one of the region s most prominent and influential business conglomerates. Under the terms of the partnership Kanoo Real Estate will provide Mazad with access to its diverse portfolio of high-value assets and equipment to expand the esteemed platform s asset inventory and strengthen its position as the premier destination for auctions in Bahrain and the wider Gulf region. We are thrilled to be partnering with Kanoo Real Estate which is a part of the Yusuf Bin Ahmed Kanoo Group a pioneer in the regional business landscape said Talal Alaraifi CEO of Mazad. Their extensive asset and business portfolio will be invaluable as we continue to grow our network and bring eve...
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Mazad a local portfolio company of Bahrain Mumtalakat Holding Company has announced a strategic partnership with Kanoo Real Estate a subsidiary of the Yusuf bin Ahmed Kanoo Group one of the region s most prominent and influential business conglomerates. Under the terms of the partnership Kanoo Real Estate will provide Mazad with access to its diverse portfolio of high-value assets and equipment to expand the esteemed platform s asset inventory and strengthen its position as the premier destination for auctions in Bahrain and the wider Gulf region. We are thrilled to be partnering with Kanoo Real Estate which is a part of the Yusuf Bin Ahmed Kanoo Group a pioneer in the regional business landscape said Talal Alaraifi CEO of Mazad. Their extensive asset and business portfolio will be invaluable as we continue to grow our network and bring eve...
Diriyah Company has announced a SAR8 billion ( 2.13 billion) contract for the construction of four luxury hotels and the Royal Diriyah Equestrian & Polo Club being developed as part of its Wadi Safar masterplan. The contract for the four world-class hotels - Aman Six Senses The Chedi and Faena - and the Royal Diriyah Equestrian & Polo Club has been awarded to a joint venture of Saudi contractors Urbacon and Al Bawani. Announcing the Wadi Safar deal Diriyah said this was its biggest single contract till date and follows the announcement of the 2.07 billion deal to build the Northern District earlier in July. The contract was officially signed today (July 24) by Ramez Al Khayyat President of Urbacon Saudi Company Fakher Al Shawaf the CEO of Al Bawani Company and Jerry Inzerillo the Group CEO of Diriyah Company at a ceremony held in Diriyah. ...
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Diriyah Company has announced a SAR8 billion ( 2.13 billion) contract for the construction of four luxury hotels and the Royal Diriyah Equestrian & Polo Club being developed as part of its Wadi Safar masterplan. The contract for the four world-class hotels - Aman Six Senses The Chedi and Faena - and the Royal Diriyah Equestrian & Polo Club has been awarded to a joint venture of Saudi contractors Urbacon and Al Bawani. Announcing the Wadi Safar deal Diriyah said this was its biggest single contract till date and follows the announcement of the 2.07 billion deal to build the Northern District earlier in July. The contract was officially signed today (July 24) by Ramez Al Khayyat President of Urbacon Saudi Company Fakher Al Shawaf the CEO of Al Bawani Company and Jerry Inzerillo the Group CEO of Diriyah Company at a ceremony held in Diriyah. ...
The 2024 Saudi Maritime & Logistics Congress taking place in Dammam from September 18-19 will highlight how Saudi Arabia s doors are now open even wider to the world with investments pouring into sectors like renewable energy maritime and logistics and other key industries. According to Chris Morley Group Director of Seatrade Maritime organisers of the event: 2024 has already proved a phenomenal year of growth for the industry in Saudi. I can highlight several areas which indicate the scale of momentum within the industry which includes: the launch of Folk Maritime offering feeder services and short sea shipping in the Middle East and supporting the kingdom s aspirations in the logistics sector Mawani s launch of the Ports Community System (PCS) raising the efficiency of the operational performance of the Saudi port network; the new rail link connecting Al Jubail and Riyadh Dry Port. ...
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The 2024 Saudi Maritime & Logistics Congress taking place in Dammam from September 18-19 will highlight how Saudi Arabia s doors are now open even wider to the world with investments pouring into sectors like renewable energy maritime and logistics and other key industries. According to Chris Morley Group Director of Seatrade Maritime organisers of the event: 2024 has already proved a phenomenal year of growth for the industry in Saudi. I can highlight several areas which indicate the scale of momentum within the industry which includes: the launch of Folk Maritime offering feeder services and short sea shipping in the Middle East and supporting the kingdom s aspirations in the logistics sector Mawani s launch of the Ports Community System (PCS) raising the efficiency of the operational performance of the Saudi port network; the new rail link connecting Al Jubail and Riyadh Dry Port. ...
DP World a key provider of end-to-end supply chain solutions said it has completed a strategic merger with Turkey s Evyap Group thus bringing together the strengths of two major ports on the Marmara Sea to create a new international logistics hub that will elevate Türkiye s pivotal role in global trade. The completion follows regulatory approval from the Turkish Competition Authority. The newly formed entity DP World Evyap sees DP World assuming a 58% stake in Evyapport while Evyap Group secures a 42% share of DP World Yarımca said DP World in a statement. The rebranding will introduce DP World Evyap Yarımca and DP World Evyap Körfez as the new names for these key maritime gateways. DP World Evyap will help meet the increasing demand for sophisticated logistics in the region boost Türkiye s expo...
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DP World a key provider of end-to-end supply chain solutions said it has completed a strategic merger with Turkey s Evyap Group thus bringing together the strengths of two major ports on the Marmara Sea to create a new international logistics hub that will elevate Türkiye s pivotal role in global trade. The completion follows regulatory approval from the Turkish Competition Authority. The newly formed entity DP World Evyap sees DP World assuming a 58% stake in Evyapport while Evyap Group secures a 42% share of DP World Yarımca said DP World in a statement. The rebranding will introduce DP World Evyap Yarımca and DP World Evyap Körfez as the new names for these key maritime gateways. DP World Evyap will help meet the increasing demand for sophisticated logistics in the region boost Türkiye s expo...
UAE s construction sector which has shown 23% growth in Activity Index and achieved 87 billion in project awards in 2023 is projected to grow from 41 billion in 2024 and to 50.40 billion by 2029 with a CAGR of 4.26%. Despite global challenges the sector is seeing significant growth particularly in residential and mixed-use projects accounting for 125 billion and 232 billion respectively said 3DXB Group a pioneering leader in 3D printing solutions for the construction industry. 3DXB Group is poised to capitalise on the UAE s resilient construction market which remains firmly positive with a project pipeline valued at 590 billion. Innovation and sutainability 3DXB Group s commitment to innovation and sustainability is at the forefront of this market expansion. The company s...
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UAE s construction sector which has shown 23% growth in Activity Index and achieved 87 billion in project awards in 2023 is projected to grow from 41 billion in 2024 and to 50.40 billion by 2029 with a CAGR of 4.26%. Despite global challenges the sector is seeing significant growth particularly in residential and mixed-use projects accounting for 125 billion and 232 billion respectively said 3DXB Group a pioneering leader in 3D printing solutions for the construction industry. 3DXB Group is poised to capitalise on the UAE s resilient construction market which remains firmly positive with a project pipeline valued at 590 billion. Innovation and sutainability 3DXB Group s commitment to innovation and sustainability is at the forefront of this market expansion. The company s...
Ceva Logistics a global logistics and supply chain company has joined forces with Almajdouie Logistics to set up a new entity in Saudi Arabia that will target industry verticals - ranging from conventional energy and petrochemicals industry to automotive e-commerce consumer and retail. A unit of CMA CGM the world s third-largest container transportation and shipping company Ceva is based at Marseille France while Almajdouie Logistics is headquartered in Dammam and operates over 1.2 million sq m of terminal and warehousing and an expansive fleet of vehicles and trailers. The deal would give Almajdouie Logistics access to its global network while Ceva would be able to build on a strong established presence in Saudi Arabia said the company in a statement. The joint venture s completion however is subject to regulatory approvals with Ceva Logistics having majority...
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Ceva Logistics a global logistics and supply chain company has joined forces with Almajdouie Logistics to set up a new entity in Saudi Arabia that will target industry verticals - ranging from conventional energy and petrochemicals industry to automotive e-commerce consumer and retail. A unit of CMA CGM the world s third-largest container transportation and shipping company Ceva is based at Marseille France while Almajdouie Logistics is headquartered in Dammam and operates over 1.2 million sq m of terminal and warehousing and an expansive fleet of vehicles and trailers. The deal would give Almajdouie Logistics access to its global network while Ceva would be able to build on a strong established presence in Saudi Arabia said the company in a statement. The joint venture s completion however is subject to regulatory approvals with Ceva Logistics having majority...
Bahri a global leader in logistics and transportation has entered into a training agreement with the Saudi Logistics Academy (SLA) to enhance employment opportunities and skill development in the maritime logistics sector. Under the terms of the two-year agreement SLA will train and qualify a number of Saudi candidates in various specialisations for placement across Bahri s business units. Through a structured 12-month programme participants will gain hands-on experience and theoretical knowledge tailored to meet Bahri s specific job requirements. This initiative not only fosters career growth for aspiring professionals but also contributes to the sustainability of the logistics sector by nurturing a skilled national workforce capable of driving innovation and industry excellence. Thriving ecosystem /di...
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Bahri a global leader in logistics and transportation has entered into a training agreement with the Saudi Logistics Academy (SLA) to enhance employment opportunities and skill development in the maritime logistics sector. Under the terms of the two-year agreement SLA will train and qualify a number of Saudi candidates in various specialisations for placement across Bahri s business units. Through a structured 12-month programme participants will gain hands-on experience and theoretical knowledge tailored to meet Bahri s specific job requirements. This initiative not only fosters career growth for aspiring professionals but also contributes to the sustainability of the logistics sector by nurturing a skilled national workforce capable of driving innovation and industry excellence. Thriving ecosystem /di...
The construction industry in the Middle East is witnessing a transformation thanks to technological advancements according to WakeCap a leader in smart solutions for construction site management. These innovations enhance safety and efficiency on construction sites and pave the way for cost savings and improved project execution. WakeCap is an IoT-based enterprise solution to monitor workforce activity and collect profit-impacting data on actual hours progress and safety. It gathers data through a knob that attaches to a standard hard hat worn by site workers. It is live on 30 mega sites and giga sites in Saudi Arabia and the US with an average 2 000 workers per project and has logged over 70 million worker-hours. According to WakeCap the key trends shaping the future of construction technology in the region are: &n...
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The construction industry in the Middle East is witnessing a transformation thanks to technological advancements according to WakeCap a leader in smart solutions for construction site management. These innovations enhance safety and efficiency on construction sites and pave the way for cost savings and improved project execution. WakeCap is an IoT-based enterprise solution to monitor workforce activity and collect profit-impacting data on actual hours progress and safety. It gathers data through a knob that attaches to a standard hard hat worn by site workers. It is live on 30 mega sites and giga sites in Saudi Arabia and the US with an average 2 000 workers per project and has logged over 70 million worker-hours. According to WakeCap the key trends shaping the future of construction technology in the region are: &n...
The construction industry in the GCC which hosts the world s largest 3D-printed villa is poised to witness a transformation with the increasing use of 3D printing. This technology unlocks potential for design innovation efficiency and sustainability a top official of 3DXB Group tells Gulf Construction. 3D construction printing technology will fundamentally transform the building industry in the Arabian Gulf region within the next five to 10 years according to Badar Rashid AlBlooshi Chairman of 3DXB Group a leading innovator in 3D printing construction solutions. Dubai s ambitious target of having 25 per cent of new buildings 3D printed by 2030 along with similar initiatives in Saudi Arabia and other Gulf countries underscores this transformative potential AlBlooshi says in an exclusive interview with Gulf Construction s Bina Goveas. 3D printing offers a ...
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The construction industry in the GCC which hosts the world s largest 3D-printed villa is poised to witness a transformation with the increasing use of 3D printing. This technology unlocks potential for design innovation efficiency and sustainability a top official of 3DXB Group tells Gulf Construction. 3D construction printing technology will fundamentally transform the building industry in the Arabian Gulf region within the next five to 10 years according to Badar Rashid AlBlooshi Chairman of 3DXB Group a leading innovator in 3D printing construction solutions. Dubai s ambitious target of having 25 per cent of new buildings 3D printed by 2030 along with similar initiatives in Saudi Arabia and other Gulf countries underscores this transformative potential AlBlooshi says in an exclusive interview with Gulf Construction s Bina Goveas. 3D printing offers a ...
The construction industry in the Middle East is witnessing a transformation thanks to technological advancements. WakeCap a leader in smart solutions for construction site management shares key trends shaping the future of construction technology in the region. These innovations enhance safety and efficiency on sites and pave the way for cost savings and improved project execution. Enhanced collaboration through IoT The rise of Internet of Things (IoT) technologies is fostering increased collaboration within construction sites. Real-time insights into worker activity and equipment usage are now possible enabling project managers to make data-driven decisions that enhance site safety streamline workflows and optimise project execution. Strategic partnerships are expanding the suite of IoT solutions available making cutting-edge to...
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The construction industry in the Middle East is witnessing a transformation thanks to technological advancements. WakeCap a leader in smart solutions for construction site management shares key trends shaping the future of construction technology in the region. These innovations enhance safety and efficiency on sites and pave the way for cost savings and improved project execution. Enhanced collaboration through IoT The rise of Internet of Things (IoT) technologies is fostering increased collaboration within construction sites. Real-time insights into worker activity and equipment usage are now possible enabling project managers to make data-driven decisions that enhance site safety streamline workflows and optimise project execution. Strategic partnerships are expanding the suite of IoT solutions available making cutting-edge to...
Saudi Arabia s logistics services sector logged a remarkable growth rate of 76% with 11 928 registrations making it the leading sector in the April-June quarter said the Business Sector Bulletin issued by the Ministry of Commerce. The bulletin highlighted the most significant economic activities in promising sectors across various Saudi Arabian regions a Saudi Press Agency (SPA) report said. The artificial intelligence (AI) sector grew by 53% with 8 948 registrations. The Riyadh region had the highest number of commercial registrations in this sector totaling 5 492 followed by the Makkah region with 1 789 the Eastern region with 939 Madinah with 254 and Asir with 115. Cloud-computing services Cloud-computing services also showed substantial growth with a 43% increase resulting in 2 358 r...
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Saudi Arabia s logistics services sector logged a remarkable growth rate of 76% with 11 928 registrations making it the leading sector in the April-June quarter said the Business Sector Bulletin issued by the Ministry of Commerce. The bulletin highlighted the most significant economic activities in promising sectors across various Saudi Arabian regions a Saudi Press Agency (SPA) report said. The artificial intelligence (AI) sector grew by 53% with 8 948 registrations. The Riyadh region had the highest number of commercial registrations in this sector totaling 5 492 followed by the Makkah region with 1 789 the Eastern region with 939 Madinah with 254 and Asir with 115. Cloud-computing services Cloud-computing services also showed substantial growth with a 43% increase resulting in 2 358 r...
DP World a leading provider of end-to-end supply chain solutions has announced that it has signed a key agreement with Dubai Municipality for the development of the largest logistics hub in the world for foodstuffs fruit and vegetable trade. This initiative aligns with the emirate s strategies to enhance investment and economic opportunities thus contributing to the goals of the Dubai Economic Agenda D33 which aims to double the size of Dubai s economy and transform it into one of the top three economic cities globally by 2033 reported Wam. The project also aims to improve quality of life for Dubai s residents and enhance the city s overall attractiveness and livability it added. Announcing the launch HH Sheikh Mohammed bin Rashid Al Maktoum Vice President Prime Minister and Ruler of Dubai said: Today we have launched our plan to develop the largest logistics hub i...
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DP World a leading provider of end-to-end supply chain solutions has announced that it has signed a key agreement with Dubai Municipality for the development of the largest logistics hub in the world for foodstuffs fruit and vegetable trade. This initiative aligns with the emirate s strategies to enhance investment and economic opportunities thus contributing to the goals of the Dubai Economic Agenda D33 which aims to double the size of Dubai s economy and transform it into one of the top three economic cities globally by 2033 reported Wam. The project also aims to improve quality of life for Dubai s residents and enhance the city s overall attractiveness and livability it added. Announcing the launch HH Sheikh Mohammed bin Rashid Al Maktoum Vice President Prime Minister and Ruler of Dubai said: Today we have launched our plan to develop the largest logistics hub i...
Diriyah Company has awarded contracts worth more than SAR7.8 billion ( 2 billion) for the development of a mixed-use district in the ancient Saudi city. Announcing the contract award Diriyah Company said it involves the construction of advanced educational institutions cultural venues modern offices and a luxury hotel. The contracts the largest ever awarded in the company s history were inked with a joint venture of El Seif Engineering Contracting Company (ESEC) and China State Construction Engineering Corporation (CSCEC). The work is set to begin in the third quarter of this year. The mega mixed-use district which will come up in the northern part of Diriyah will be executed by some of the most prominent real-estate developers from Saudi Arabia and around the world contributing to the realization of the Diriyah Company which rep...
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Diriyah Company has awarded contracts worth more than SAR7.8 billion ( 2 billion) for the development of a mixed-use district in the ancient Saudi city. Announcing the contract award Diriyah Company said it involves the construction of advanced educational institutions cultural venues modern offices and a luxury hotel. The contracts the largest ever awarded in the company s history were inked with a joint venture of El Seif Engineering Contracting Company (ESEC) and China State Construction Engineering Corporation (CSCEC). The work is set to begin in the third quarter of this year. The mega mixed-use district which will come up in the northern part of Diriyah will be executed by some of the most prominent real-estate developers from Saudi Arabia and around the world contributing to the realization of the Diriyah Company which rep...
The Kingdom of Saudi Arabia has signed a co-operation agreement with the Romanian authorities in the field of logistics services reported SPA. A high-level delegation led by Minister of Transport and Logistic Services Saleh bin Nasser Al-Jasser is on an official visit to Romania. During the meeting with Romanian Minister of Transport Infrastructure and Communications Sorin-Mihai Grindeanu Al-Jasser discussed various ways to enhance cooperation between the two countries. The ministers also engaged in discussions on several topics of mutual interest said the SPA report. Romanian Minister of Research Innovation and Digitalization Bogdan-Gruia Ivan Saudi Ambassador to Romania Mohammed Abdul Ghani Khayat and Al-Jasser s delegation were present at the meeting it added. ...
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The Kingdom of Saudi Arabia has signed a co-operation agreement with the Romanian authorities in the field of logistics services reported SPA. A high-level delegation led by Minister of Transport and Logistic Services Saleh bin Nasser Al-Jasser is on an official visit to Romania. During the meeting with Romanian Minister of Transport Infrastructure and Communications Sorin-Mihai Grindeanu Al-Jasser discussed various ways to enhance cooperation between the two countries. The ministers also engaged in discussions on several topics of mutual interest said the SPA report. Romanian Minister of Research Innovation and Digitalization Bogdan-Gruia Ivan Saudi Ambassador to Romania Mohammed Abdul Ghani Khayat and Al-Jasser s delegation were present at the meeting it added. ...
Refine a Dubai-based real estate developer has announced a first-of-its-kind concept DaaS (Development as a Service) aimed at helping investors and developers who are looking to enter the emirate s property market. Founded on the game-changing Daas concept Refine offers investors the chance to harness generations of real-estate expertise and the power of Refine s fully-fledged team and network eliminating the need to build their own infrastructure. Spearheaded by Thomas Wan a second-generation entrepreneur and Managing Partner at Refine the company has already achieved a management portfolio in excess of AED 7 billion since it was established in 2021. Refine is committed to transforming the real estate landscape in Dubai by offering innovative solutions that go beyond traditional development practices remarked Wan. We create value in ...
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Refine a Dubai-based real estate developer has announced a first-of-its-kind concept DaaS (Development as a Service) aimed at helping investors and developers who are looking to enter the emirate s property market. Founded on the game-changing Daas concept Refine offers investors the chance to harness generations of real-estate expertise and the power of Refine s fully-fledged team and network eliminating the need to build their own infrastructure. Spearheaded by Thomas Wan a second-generation entrepreneur and Managing Partner at Refine the company has already achieved a management portfolio in excess of AED 7 billion since it was established in 2021. Refine is committed to transforming the real estate landscape in Dubai by offering innovative solutions that go beyond traditional development practices remarked Wan. We create value in ...
Oman Tourism Development Company (Omran) has invited expressions of interest (EoIs) from leading engineering and construction firms for the development of a luxury 5-star property as well as other related facilities within its mega mixed-use development in Muscat. The 200-key hotel project is being developed as part of a mixed-use development in a unique waterfront location in Al Bustan area within the Muscat governorate. The hotel is being targeted for Q4 2027 opening and will be operated by international hospitality group Four Seasons. The 180 000-sq-m mega mixed-use development will also boast 91 branded luxury apartments F&B outlets as well as high-end products retail outlets. The scope of work includes the renovation of the oldest and largest marina in the sultanate and also the ancillary utility buildings. The entire project w...
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Oman Tourism Development Company (Omran) has invited expressions of interest (EoIs) from leading engineering and construction firms for the development of a luxury 5-star property as well as other related facilities within its mega mixed-use development in Muscat. The 200-key hotel project is being developed as part of a mixed-use development in a unique waterfront location in Al Bustan area within the Muscat governorate. The hotel is being targeted for Q4 2027 opening and will be operated by international hospitality group Four Seasons. The 180 000-sq-m mega mixed-use development will also boast 91 branded luxury apartments F&B outlets as well as high-end products retail outlets. The scope of work includes the renovation of the oldest and largest marina in the sultanate and also the ancillary utility buildings. The entire project w...
PG Real Estate a part of the UAE-based Pure Gold Group today (July 4) announced an ambitious plan to invest AED1 billion ( 277 million) in transformative real estate developments. The move comes following the successful completion and early delivery of its first project PG Upper House in June last year promises to redefine luxury living and elevate urban landscapes to new heights. This investment will be allocated towards a series of pioneering residential commercial and mixed-use projects strategically located in key metropolitan areas throughout the UAE said the developer in its statement. These developments are set to redefine luxury living and set new benchmarks in architectural excellence sustainability and community engagement it stated. As a boutique residential development firm focused on end-user satisfaction PG R...
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PG Real Estate a part of the UAE-based Pure Gold Group today (July 4) announced an ambitious plan to invest AED1 billion ( 277 million) in transformative real estate developments. The move comes following the successful completion and early delivery of its first project PG Upper House in June last year promises to redefine luxury living and elevate urban landscapes to new heights. This investment will be allocated towards a series of pioneering residential commercial and mixed-use projects strategically located in key metropolitan areas throughout the UAE said the developer in its statement. These developments are set to redefine luxury living and set new benchmarks in architectural excellence sustainability and community engagement it stated. As a boutique residential development firm focused on end-user satisfaction PG R...
Gulf Contracting & Landscaping (GCL) an Al Khayyat Investments (AKI) company has unveiled one of the UAE s largest horticulture nurseries in a move to further optimise local natural resources while serving its customers across the UAE and the GCC region. The expanded nursery is located in Al Rahba Abu Dhabi covering 1.25 million sqft and holding more than a million plants that thrive within the local climate said the company in a statement. The facility has undergone remarkable growth since its formation in 2007 with GCL steadily acquiring adjacent nurseries in Abu Dhabi as well as developing sites in other emirates. The announcement comes at a time when the UAE is rapidly transforming its outdoor spaces and advancing green developments embodied in recent plans such as the Dubai Quality of Life Strategy 2033 which includes developing over 200 parks in ...
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Gulf Contracting & Landscaping (GCL) an Al Khayyat Investments (AKI) company has unveiled one of the UAE s largest horticulture nurseries in a move to further optimise local natural resources while serving its customers across the UAE and the GCC region. The expanded nursery is located in Al Rahba Abu Dhabi covering 1.25 million sqft and holding more than a million plants that thrive within the local climate said the company in a statement. The facility has undergone remarkable growth since its formation in 2007 with GCL steadily acquiring adjacent nurseries in Abu Dhabi as well as developing sites in other emirates. The announcement comes at a time when the UAE is rapidly transforming its outdoor spaces and advancing green developments embodied in recent plans such as the Dubai Quality of Life Strategy 2033 which includes developing over 200 parks in ...
Jazan City Port Basic and Transformative Industries has announced the signing of three construction and operational contracts worth over SAR315 million ( 84 million). These contracts were awarded to China Harbor Engineering Company Arabia Al Dafe For Trading And Contracting and Walid Mughashi Establishment for Operation and Maintenance reported SPA. The projects include the design and construction of a bridge linking the deposit and re-export area on the manufactural island to the city port the establishment of a city support services warehouse and a contract for the operation and maintenance of temporary accommodation it stated. The first project involves connecting the Special Economic Zone (SEZ) to the city s port and the deposit and re-export area. It includes creating necessary infrastructure and developing the site which will feature three bri...
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Jazan City Port Basic and Transformative Industries has announced the signing of three construction and operational contracts worth over SAR315 million ( 84 million). These contracts were awarded to China Harbor Engineering Company Arabia Al Dafe For Trading And Contracting and Walid Mughashi Establishment for Operation and Maintenance reported SPA. The projects include the design and construction of a bridge linking the deposit and re-export area on the manufactural island to the city port the establishment of a city support services warehouse and a contract for the operation and maintenance of temporary accommodation it stated. The first project involves connecting the Special Economic Zone (SEZ) to the city s port and the deposit and re-export area. It includes creating necessary infrastructure and developing the site which will feature three bri...
As the global real estate landscape continues to evolve Kuwait Financial Centre (Markaz) is slowly emerging as a leader in the international real estate sector with the successful execution of more than 95 projects worth over 2.3 billion since the beginning of its real estate activity spanning various markets and property types in the US and Europe. Markaz continues to demonstrate excellence in delivering value to investors through a blend of expertise strategic partnerships and innovative approaches. Our five-decade legacy positions Markaz as a trusted advisor leveraging our global network to identify and capitalize on value-accretive opportunities remarked Sami Shabshab President of Mar-Gulf Management Inc. the international real estate arm of Markaz. We maintain a dynamic investment strategy constantly evaluating market trends to identify t...
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As the global real estate landscape continues to evolve Kuwait Financial Centre (Markaz) is slowly emerging as a leader in the international real estate sector with the successful execution of more than 95 projects worth over 2.3 billion since the beginning of its real estate activity spanning various markets and property types in the US and Europe. Markaz continues to demonstrate excellence in delivering value to investors through a blend of expertise strategic partnerships and innovative approaches. Our five-decade legacy positions Markaz as a trusted advisor leveraging our global network to identify and capitalize on value-accretive opportunities remarked Sami Shabshab President of Mar-Gulf Management Inc. the international real estate arm of Markaz. We maintain a dynamic investment strategy constantly evaluating market trends to identify t...
Saudi Arabian Logistics (SAL) has announced that it has signed a service contract with Air China under which SAL will provide comprehensive air cargo handling services for Air China. The agreement marks a strategic partnership that reflects SAL s commitment to expanding its air cargo handling services and strengthening its presence in the global logistics market. As per the deal SAL will also offer ground transportation connections between all its stations in Saudi Arabia s airports and destinations within the GCC countries. These strengthen SAL s position as a trusted partner in the aviation industry and a leading national logistics provider. Air China affirmed that the partnership represents a strategic step for the company to enhance its cargo handling capabilities in the Middle East region. On...
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Saudi Arabian Logistics (SAL) has announced that it has signed a service contract with Air China under which SAL will provide comprehensive air cargo handling services for Air China. The agreement marks a strategic partnership that reflects SAL s commitment to expanding its air cargo handling services and strengthening its presence in the global logistics market. As per the deal SAL will also offer ground transportation connections between all its stations in Saudi Arabia s airports and destinations within the GCC countries. These strengthen SAL s position as a trusted partner in the aviation industry and a leading national logistics provider. Air China affirmed that the partnership represents a strategic step for the company to enhance its cargo handling capabilities in the Middle East region. On...
Nass Contracting Company a unit of Bahrain-based industrial conglomerate Nass Corporation has announced that its joint venture with Nassir Hazza Al Subaie for Contracting has secured the order for the Busaiteen Link Package 3 Project. The Nass-Nassir Hazza JV sealed the contract valued at BD37.23 million ( 98 million) with the Bahrain Ministry of Works. The scope of work includes Busaiteen link package 3: roads for Muharraq Ring Road Phase-Two (from junction 1 to junction 4) said Nass Contracting Company in its filing to Bahrain Bourse. The project which is being funded by Saudi Fund for Development is expected to be completed by the fourth quarter 2025. Nass Contracting JV emerged winner beating three others including local contracting groups Haji Hassan (which had quoted BD42 million) and Almoayyed Contracting as well as Al Ghanim Internation...
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Nass Contracting Company a unit of Bahrain-based industrial conglomerate Nass Corporation has announced that its joint venture with Nassir Hazza Al Subaie for Contracting has secured the order for the Busaiteen Link Package 3 Project. The Nass-Nassir Hazza JV sealed the contract valued at BD37.23 million ( 98 million) with the Bahrain Ministry of Works. The scope of work includes Busaiteen link package 3: roads for Muharraq Ring Road Phase-Two (from junction 1 to junction 4) said Nass Contracting Company in its filing to Bahrain Bourse. The project which is being funded by Saudi Fund for Development is expected to be completed by the fourth quarter 2025. Nass Contracting JV emerged winner beating three others including local contracting groups Haji Hassan (which had quoted BD42 million) and Almoayyed Contracting as well as Al Ghanim Internation...
The Massachusetts Institute of Technology Centre for Transportation & Logistics (MIT CTL)has commissioned a new research lab to investigate high-impact applications of new data-driven technologies in the logistics industry. The formation of the lab was supported by seed funding from the intralogistics group Mecalux. Specifically the Intelligent Logistics Systems Labat MIT CTL will explore the potential of machine learning (ML) and artificial intelligence (AI) to transform the future of logistics operations and goods transport. This will be the starting point for a future research collaboration between MIT CTL and Mecalux combining the academic knowledge of the leading US technology university with the hands-on experience of a multinational company with more than 55 years of history. Mecalux intends to provide technical insights and support from its software and automation experts over the next few year...
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The Massachusetts Institute of Technology Centre for Transportation & Logistics (MIT CTL)has commissioned a new research lab to investigate high-impact applications of new data-driven technologies in the logistics industry. The formation of the lab was supported by seed funding from the intralogistics group Mecalux. Specifically the Intelligent Logistics Systems Labat MIT CTL will explore the potential of machine learning (ML) and artificial intelligence (AI) to transform the future of logistics operations and goods transport. This will be the starting point for a future research collaboration between MIT CTL and Mecalux combining the academic knowledge of the leading US technology university with the hands-on experience of a multinational company with more than 55 years of history. Mecalux intends to provide technical insights and support from its software and automation experts over the next few year...
Dar Al Handasah one of the world s leading consultancies has been awarded a landmark contract by Kuwait s Directorate General for Civil Aviation (DGCA) to provide design and construction supervision services at Kuwait International Airport (KIA). Spanning a period of five years this assignment is divided into a 1.5-year design phase followed by 3.5 years dedicated to construction supervision. The scope of work includes construction of a 1.5 sq km cargo platform designed to accommodate 77 aircraft stands as well as upgrade of central runway and associated taxiways stated the top official. It also involves upgrading the central runway and associated taxiways to a length of 4 300 m conforming to ICAO code 4F standards with a precision approach CAT III B it stated. The project encompasses four components each playing a crucial r...
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Dar Al Handasah one of the world s leading consultancies has been awarded a landmark contract by Kuwait s Directorate General for Civil Aviation (DGCA) to provide design and construction supervision services at Kuwait International Airport (KIA). Spanning a period of five years this assignment is divided into a 1.5-year design phase followed by 3.5 years dedicated to construction supervision. The scope of work includes construction of a 1.5 sq km cargo platform designed to accommodate 77 aircraft stands as well as upgrade of central runway and associated taxiways stated the top official. It also involves upgrading the central runway and associated taxiways to a length of 4 300 m conforming to ICAO code 4F standards with a precision approach CAT III B it stated. The project encompasses four components each playing a crucial r...
In a significant milestone for Bahrain s logistics sector DHL Express has unveiled a 218-million expansion of its Middle East and North Africa (MENA) hub at the Bahrain International Airport. Shaikh Salman bin Khalifa Al Khalifa Bahrain s Minister of Finance and National Economy inaugurated the expansion marking a crucial step in solidifying the Kingdom s position as a leading regional logistics gateway. According to a report from Bahrain News Agency the finance minister was received by John Pearson CEO of DHL Express; Ahmed bin Ali Al Khalifa Chairman of the board of directors of DHL Express Bahrain; and Noor Suliman CEO of DHL Express MENA. Mohammed bin Thamer Al Kaabi Minister of Transportation and Communications; Abdullah bin Adel Fakhro Minister of Industry and Commerce; and Shaikh Ahmed bin Hamad Al Khalifa President of Customs were present at the opening ceremony. Shaikh Salman toured the new facilities...
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In a significant milestone for Bahrain s logistics sector DHL Express has unveiled a 218-million expansion of its Middle East and North Africa (MENA) hub at the Bahrain International Airport. Shaikh Salman bin Khalifa Al Khalifa Bahrain s Minister of Finance and National Economy inaugurated the expansion marking a crucial step in solidifying the Kingdom s position as a leading regional logistics gateway. According to a report from Bahrain News Agency the finance minister was received by John Pearson CEO of DHL Express; Ahmed bin Ali Al Khalifa Chairman of the board of directors of DHL Express Bahrain; and Noor Suliman CEO of DHL Express MENA. Mohammed bin Thamer Al Kaabi Minister of Transportation and Communications; Abdullah bin Adel Fakhro Minister of Industry and Commerce; and Shaikh Ahmed bin Hamad Al Khalifa President of Customs were present at the opening ceremony. Shaikh Salman toured the new facilities...
Bahrain Logistics Zone which is regulated and managed by the Ports and Maritime Affairs at the Ministry of Transportation and Telecommunications has signed a contract with Al Daaysi Holding for renting of over 8 400 sq m plot within the key development reported BNA. A leading Bahraini family company supporting food security in the kingdom Al Daaysi Holding said the land will be used to build and operate an integrated logistics centre specialising in logistics operations for fast-moving goods (FMCG) like refrigerated and frozen goods and other related services. The contract was signed by Bader Al Mahmood the Undersecretary of Ports and Maritime Affairs in the Ministry of Transportation and Telecommunications and Isa Al Daaysi the CEO of Al Daaysi Holding. The ministry is looking forward to this partnership and what it will achieve in providing logistical solu...
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Bahrain Logistics Zone which is regulated and managed by the Ports and Maritime Affairs at the Ministry of Transportation and Telecommunications has signed a contract with Al Daaysi Holding for renting of over 8 400 sq m plot within the key development reported BNA. A leading Bahraini family company supporting food security in the kingdom Al Daaysi Holding said the land will be used to build and operate an integrated logistics centre specialising in logistics operations for fast-moving goods (FMCG) like refrigerated and frozen goods and other related services. The contract was signed by Bader Al Mahmood the Undersecretary of Ports and Maritime Affairs in the Ministry of Transportation and Telecommunications and Isa Al Daaysi the CEO of Al Daaysi Holding. The ministry is looking forward to this partnership and what it will achieve in providing logistical solu...
The Abu Dhabi Real Estate Centre (Adrec) has announced that the sector has received record levels of foreign direct investment (FDI) with 487 individual investors injecting AED1.81 billion ( 482 million) during the first quarter of 2024. The custodian and regulator of Abu Dhabi s real estate sector Adrec said these investors from source markets including India Russia Canada the UK Jordan and China significantly increased their investments compared to the same period last year. The performance of Abu Dhabi s real estate market in the first three months of the year underscores the sector s increasing appeal to international investors Rashed Al Omaira the Acting Director General at Adrec. The robust growth on show offers encouraging signs for the remainder of 2024 and Adrec stands ready to provide seamless services and support to all stake...
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The Abu Dhabi Real Estate Centre (Adrec) has announced that the sector has received record levels of foreign direct investment (FDI) with 487 individual investors injecting AED1.81 billion ( 482 million) during the first quarter of 2024. The custodian and regulator of Abu Dhabi s real estate sector Adrec said these investors from source markets including India Russia Canada the UK Jordan and China significantly increased their investments compared to the same period last year. The performance of Abu Dhabi s real estate market in the first three months of the year underscores the sector s increasing appeal to international investors Rashed Al Omaira the Acting Director General at Adrec. The robust growth on show offers encouraging signs for the remainder of 2024 and Adrec stands ready to provide seamless services and support to all stake...
Vision Developments an innovative Emirati enterprise has unveiled its ambitious plans for local expansion and growth announcing two new projects. The two upcoming properties bring the Vision ethos to life with community living in the heart of Dubai. First of the handovers will be as soon as Q4 2024 with two properties Karma and Platinum in Liwan. Vision Platinum promises ultimate elegance embodying luxury and state-of-the-art technology in 1 2 and 4 bedrooms. Vision Karma offers 1 and 2-bedroom spaces with the value of amenities that are meticulously integrated to offer a life of ease and sophistication. Commitment to quality Backed by a commitment to quality community and innovation Vision Developments has established itself in the market since 2021 with 3 projects completed and sold out.&n...
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Vision Developments an innovative Emirati enterprise has unveiled its ambitious plans for local expansion and growth announcing two new projects. The two upcoming properties bring the Vision ethos to life with community living in the heart of Dubai. First of the handovers will be as soon as Q4 2024 with two properties Karma and Platinum in Liwan. Vision Platinum promises ultimate elegance embodying luxury and state-of-the-art technology in 1 2 and 4 bedrooms. Vision Karma offers 1 and 2-bedroom spaces with the value of amenities that are meticulously integrated to offer a life of ease and sophistication. Commitment to quality Backed by a commitment to quality community and innovation Vision Developments has established itself in the market since 2021 with 3 projects completed and sold out.&n...
UAE-based developer Arada has awarded two contracts worth AED1.48 billion ( 394 million) for the construction of Sequoia and Saro the final two phases of its mega woodland project Masaar in Sharjah. The construction on the Sequoia and Saro will begin immediately with all 1 025 homes expected to be completed by summer 2026. These awards increase the number of homes under construction at Masaar to 2 570 with 430 homes in Masaar s first phase having been completed at the end of 2023. The second and third phases of Masaar Kaya and Robinia which consist of 986 homes are scheduled to be completed within the coming months he added. Announcing the new contracts Arada said the first one valued at AED650 million was awarded to Pivot Engineering & General Contracting for the construction of 428 homes within Sequoia phase. The Abu Dhab...
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UAE-based developer Arada has awarded two contracts worth AED1.48 billion ( 394 million) for the construction of Sequoia and Saro the final two phases of its mega woodland project Masaar in Sharjah. The construction on the Sequoia and Saro will begin immediately with all 1 025 homes expected to be completed by summer 2026. These awards increase the number of homes under construction at Masaar to 2 570 with 430 homes in Masaar s first phase having been completed at the end of 2023. The second and third phases of Masaar Kaya and Robinia which consist of 986 homes are scheduled to be completed within the coming months he added. Announcing the new contracts Arada said the first one valued at AED650 million was awarded to Pivot Engineering & General Contracting for the construction of 428 homes within Sequoia phase. The Abu Dhab...
AJEX Logistics Services has signed a new partnership agreement with Africa Union Trading and Africa Union Aviation subsidiaries of Africa Union Holdings to enhance logistics and supply chain services between Africa and the Middle East. The agreement inked at the Saudi Trade Attaché s office in Sandton Johannesburg will support the strategic expansion objectives of both companies with Africa Union Holdings growing its footprint across the GCC and AJEX growing its footprint across Sub-Saharan Africa. A milestone for business development this partnership represents a concrete step towards realising the shared vision of enhancing trade connectivity and fostering greater economic cooperation between Sub-Saharan Africa and the Middle East. Forward-looking initiative This...
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AJEX Logistics Services has signed a new partnership agreement with Africa Union Trading and Africa Union Aviation subsidiaries of Africa Union Holdings to enhance logistics and supply chain services between Africa and the Middle East. The agreement inked at the Saudi Trade Attaché s office in Sandton Johannesburg will support the strategic expansion objectives of both companies with Africa Union Holdings growing its footprint across the GCC and AJEX growing its footprint across Sub-Saharan Africa. A milestone for business development this partnership represents a concrete step towards realising the shared vision of enhancing trade connectivity and fostering greater economic cooperation between Sub-Saharan Africa and the Middle East. Forward-looking initiative This...
Inchcape Shipping Services a global leader in port agency and marine services with a major presence in the Middle East region has announced the successful acquisition of Grieg Logistics AS a renowned brand in Norway from the Grieg Group. This move marks an exciting development solidifying Inchcape s commitment to servicing customers with quality operations and people in every port said a statement from Inchcape. Under the new ownership Grieg Logistics will continue to operate under the same name for a period and existing management headed by CEO Stig Trygve Andersen. Inchcape a portfolio company of private equity fund Epiris represents clients in over 85% of the world s ports across 60 countries through its network of 247 owned offices. The acquisition of Grieg Logistics builds on Inchcape s commitme...
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Inchcape Shipping Services a global leader in port agency and marine services with a major presence in the Middle East region has announced the successful acquisition of Grieg Logistics AS a renowned brand in Norway from the Grieg Group. This move marks an exciting development solidifying Inchcape s commitment to servicing customers with quality operations and people in every port said a statement from Inchcape. Under the new ownership Grieg Logistics will continue to operate under the same name for a period and existing management headed by CEO Stig Trygve Andersen. Inchcape a portfolio company of private equity fund Epiris represents clients in over 85% of the world s ports across 60 countries through its network of 247 owned offices. The acquisition of Grieg Logistics builds on Inchcape s commitme...
Roads and Transport Authority (RTA) has announced the launch of its new Dubai Commercial and Logistics Land Transport Strategy 2030 aimed at doubling the direct contribution of the land transport and logistics sector to the emirate s economy to AED16.8 billion ( 4.5 billion). Unveiling this today (June 2) Mattar Al Tayer Director General and Chairman of the Board of Executive Directors of the RTA said it has identified 17 projects that will contribute to supporting the sector s and companies growth increasing its competitiveness through digital markets and platforms. The strategy focuses on using data and technology to support the development of companies with high potential cooperating with the commercial transport sector to operate modern vehicles with better performance and encouraging the adoption of innovative methods and future technologies. The...
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Roads and Transport Authority (RTA) has announced the launch of its new Dubai Commercial and Logistics Land Transport Strategy 2030 aimed at doubling the direct contribution of the land transport and logistics sector to the emirate s economy to AED16.8 billion ( 4.5 billion). Unveiling this today (June 2) Mattar Al Tayer Director General and Chairman of the Board of Executive Directors of the RTA said it has identified 17 projects that will contribute to supporting the sector s and companies growth increasing its competitiveness through digital markets and platforms. The strategy focuses on using data and technology to support the development of companies with high potential cooperating with the commercial transport sector to operate modern vehicles with better performance and encouraging the adoption of innovative methods and future technologies. The...
Gulf Islamic Investments (GII) and Logipoint a subsidiary of SISCO have signed an agreement to create a joint venture for a logistics platform providing Grade A warehousing solutions across in a deal worth SR1 billion ( 300 million). LogiPoint is a leading industrial and logistics real estate developer of Saudi Arabia which invests manages and operates bonded and non-bonded logistics parks and zones. The GII-Logipoint joint venture will create new logistic infrastructure in key Saudi cities starting in Riyadh and Jeddah providing warehousing and handling facilities as the backbone of a multi-asset logistical network serving companies across the kingdom. This partnership is the second logistics deal in quick succession for GII a leading Shari ah-compliant global alternative investment company with over 4.5 billion of assets under management (AUM). Earlier this month Brookfield Asset Management ...
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Gulf Islamic Investments (GII) and Logipoint a subsidiary of SISCO have signed an agreement to create a joint venture for a logistics platform providing Grade A warehousing solutions across in a deal worth SR1 billion ( 300 million). LogiPoint is a leading industrial and logistics real estate developer of Saudi Arabia which invests manages and operates bonded and non-bonded logistics parks and zones. The GII-Logipoint joint venture will create new logistic infrastructure in key Saudi cities starting in Riyadh and Jeddah providing warehousing and handling facilities as the backbone of a multi-asset logistical network serving companies across the kingdom. This partnership is the second logistics deal in quick succession for GII a leading Shari ah-compliant global alternative investment company with over 4.5 billion of assets under management (AUM). Earlier this month Brookfield Asset Management ...
AJEX Logistics Services the Saudi-headquartered Middle East specialist in express distribution and shipping solutions has been selected as an official partner for the second year running for the Hajj without Baggage initiative. AJEX will provide essential shipping and logistics services to transport Hajj pilgrims luggage to and from their destinations enabling them to travel with greater ease and comfort. Regarded as the world s largest gathering of people the annual pilgrimage to the holy city of Mecca attracted 1.84 million pilgrims in 2023. This year Hajj is set to begin this year on June 14 and will end on June 19 and is expected to receive similar numbers of visitors. In 2023 AJEX transported 20 000 bags as part of the initiative with zero customer complaints losses or damage. This year AJEX has increased its capacity thanks to its warehouses in Mecca Riyadh and Dammam so that it can transport up to 1...
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AJEX Logistics Services the Saudi-headquartered Middle East specialist in express distribution and shipping solutions has been selected as an official partner for the second year running for the Hajj without Baggage initiative. AJEX will provide essential shipping and logistics services to transport Hajj pilgrims luggage to and from their destinations enabling them to travel with greater ease and comfort. Regarded as the world s largest gathering of people the annual pilgrimage to the holy city of Mecca attracted 1.84 million pilgrims in 2023. This year Hajj is set to begin this year on June 14 and will end on June 19 and is expected to receive similar numbers of visitors. In 2023 AJEX transported 20 000 bags as part of the initiative with zero customer complaints losses or damage. This year AJEX has increased its capacity thanks to its warehouses in Mecca Riyadh and Dammam so that it can transport up to 1...
DP World a leading provider of smart end-to-end supply chain solutions has joined hands with Saudi Ports Authority (Mawani) to break ground on a new logistics park which will come up on a 415 000-sq-m area in Jeddah port. The greenfield facility being set up at a total investment of SAR900 million ( 250 million) will feature 185 000 sq m of warehousing space and a sprawling multipurpose storage yard thus making it the largest integrated logistics park in the kingdom. It will have the capacity for more than 390 000 pallet positions offering customers an efficient platform for the seamless flow of goods to and from Jeddah. According to DP World the new facility will provide modern storage and distribution facilities as well as help boost trade in the Kingdom of Saudi Arabia and the wider region. Established in 2022 as part of a 30-year c...
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DP World a leading provider of smart end-to-end supply chain solutions has joined hands with Saudi Ports Authority (Mawani) to break ground on a new logistics park which will come up on a 415 000-sq-m area in Jeddah port. The greenfield facility being set up at a total investment of SAR900 million ( 250 million) will feature 185 000 sq m of warehousing space and a sprawling multipurpose storage yard thus making it the largest integrated logistics park in the kingdom. It will have the capacity for more than 390 000 pallet positions offering customers an efficient platform for the seamless flow of goods to and from Jeddah. According to DP World the new facility will provide modern storage and distribution facilities as well as help boost trade in the Kingdom of Saudi Arabia and the wider region. Established in 2022 as part of a 30-year c...
Nakheel a master developer and a member of Dubai Holding has signed up DBB Contracting and Khansaheb Civil Engineering for the construction of infrastructure at Palm Jebel Ali a premium development spanning 13.4km area in Dubai that will be home to 35 000 families. One of Nakheel s most visionary projects Palm Jebel Ali will offer an exceptional breadth of luxury lifestyle amenities for residents families and visitors. Supporting the Dubai Economic Agenda D33 it also marks the beginning of a new growth corridor in the Jebel Ali area underlining the expansion of the emirate. DBB Contracting is a unit of Dutco Group a specialist in civil mechanical and electrical engineering as well as dredging works while Khansaheb Group is a leading construction and facilities management company. As per the deal DBB Contracting will build a new road providing access from Sheikh Zaye...
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Nakheel a master developer and a member of Dubai Holding has signed up DBB Contracting and Khansaheb Civil Engineering for the construction of infrastructure at Palm Jebel Ali a premium development spanning 13.4km area in Dubai that will be home to 35 000 families. One of Nakheel s most visionary projects Palm Jebel Ali will offer an exceptional breadth of luxury lifestyle amenities for residents families and visitors. Supporting the Dubai Economic Agenda D33 it also marks the beginning of a new growth corridor in the Jebel Ali area underlining the expansion of the emirate. DBB Contracting is a unit of Dutco Group a specialist in civil mechanical and electrical engineering as well as dredging works while Khansaheb Group is a leading construction and facilities management company. As per the deal DBB Contracting will build a new road providing access from Sheikh Zaye...
Only 5% of construction sector supplies are sold online in Bahrain said Sadeq Abdulrasool Chief Business Officer of Qetaat a newly launched Bahraini B2C and B2B marketplace platform specialising in the development of urban sectors. Abdulrasool noted that this percentage underscores the significant growth potential for e-commerce in this sector particularly as an increasing number of contractors and building equipment and materials dealers prefer online shopping for its broader product range and competitive pricing. During his participation in a panel discussion at the Seamless Middle East 2024 Digital Commerce Conference held at the Dubai World Trade Center Abdulrasool emphasised that e-commerce has extended beyond the retail sector into other crucial areas including construction. Digital presence ...
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Only 5% of construction sector supplies are sold online in Bahrain said Sadeq Abdulrasool Chief Business Officer of Qetaat a newly launched Bahraini B2C and B2B marketplace platform specialising in the development of urban sectors. Abdulrasool noted that this percentage underscores the significant growth potential for e-commerce in this sector particularly as an increasing number of contractors and building equipment and materials dealers prefer online shopping for its broader product range and competitive pricing. During his participation in a panel discussion at the Seamless Middle East 2024 Digital Commerce Conference held at the Dubai World Trade Center Abdulrasool emphasised that e-commerce has extended beyond the retail sector into other crucial areas including construction. Digital presence ...
Middle Eastern family offices continue to hold a high allocation to alternative investments with on average the highest allocations to real estate (15%) as the local market is thriving. They also see AI as one of the most promising areas to invest in over the next two to three years similar to their global peers said Niels Zilkens Head Wealth Management Middle East at UBS after UBS published its Global Family Office Report 2024 with insights from 320 single family offices across seven regions of the world. Compared to their global peers Middle Eastern family offices have on average the highest allocations to real estate (15%) and use high-quality short duration fixed income to enhance portfolio diversification less than their global peers (10%). In the next 12 months they are most concerned about a major geopolitical conflict (68%) and over the next five years they are most worried about a f...
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Middle Eastern family offices continue to hold a high allocation to alternative investments with on average the highest allocations to real estate (15%) as the local market is thriving. They also see AI as one of the most promising areas to invest in over the next two to three years similar to their global peers said Niels Zilkens Head Wealth Management Middle East at UBS after UBS published its Global Family Office Report 2024 with insights from 320 single family offices across seven regions of the world. Compared to their global peers Middle Eastern family offices have on average the highest allocations to real estate (15%) and use high-quality short duration fixed income to enhance portfolio diversification less than their global peers (10%). In the next 12 months they are most concerned about a major geopolitical conflict (68%) and over the next five years they are most worried about a f...
Dubai South the largest single urban master development focusing on aviation logistics and real estate has joined hands with Abu Dhabi-based Aldar Properties to develop a build-to-suit facility for Kuehne Nagel one of the world s leading logistics providers at EZDubai the fully dedicated e-commerce hub in Dubai South. Spanning 22 915 sq m the facility provides third-party logistics (3PL) e-commerce and goods handling services and is designed to include office space warehousing capabilities and an amenities block. The facility is expected to be handed over to Kuehne Nagel by Q2 2025. Located in close proximity and with direct access to Al Maktoum International Airport as well as Jebel Ali port via a bounded logistics corridor the logistics facility is being developed as part of the joint venture between Dubai South and Aldar to develop Grade A logistics facilities at Dubai South ...
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Dubai South the largest single urban master development focusing on aviation logistics and real estate has joined hands with Abu Dhabi-based Aldar Properties to develop a build-to-suit facility for Kuehne Nagel one of the world s leading logistics providers at EZDubai the fully dedicated e-commerce hub in Dubai South. Spanning 22 915 sq m the facility provides third-party logistics (3PL) e-commerce and goods handling services and is designed to include office space warehousing capabilities and an amenities block. The facility is expected to be handed over to Kuehne Nagel by Q2 2025. Located in close proximity and with direct access to Al Maktoum International Airport as well as Jebel Ali port via a bounded logistics corridor the logistics facility is being developed as part of the joint venture between Dubai South and Aldar to develop Grade A logistics facilities at Dubai South ...
Dubai s real estate market remained resilient during the first three months while the residential sales market in Abu Dhabi is showing promising signs of growth in the foreseeable future with a gradual upward trajectory anticipated in the coming months according to property expert Asteco. Dubai s strong economic performance and commitment to enhancing the quality of life and attracting skilled professionals will continue to attract a substantial number of expatriates stated Asteco in its Q1 2024 real estate report. During the three-month period the Dubai market witnessed the delivery of over 10 000 residential units comprising 7 300 apartments and 2 750 villas. This represents a significant increase compared to the previous quarter and sets a promising trajectory for the year ahead. An additional 30 000 units are also anticipated...
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Dubai s real estate market remained resilient during the first three months while the residential sales market in Abu Dhabi is showing promising signs of growth in the foreseeable future with a gradual upward trajectory anticipated in the coming months according to property expert Asteco. Dubai s strong economic performance and commitment to enhancing the quality of life and attracting skilled professionals will continue to attract a substantial number of expatriates stated Asteco in its Q1 2024 real estate report. During the three-month period the Dubai market witnessed the delivery of over 10 000 residential units comprising 7 300 apartments and 2 750 villas. This represents a significant increase compared to the previous quarter and sets a promising trajectory for the year ahead. An additional 30 000 units are also anticipated...
The inaugural edition of Acres Real Estate Exhibition 2024 organised at the Dubai World Trade Centre concluded on a high note Monday marking a significant milestone with substantial real estate deals for both local and international projects. The event attracted a remarkable turnout of visitors including citizens residents investors and businessmen from within and outside the UAE. During the four-day event the exhibition showcased numerous mega real estate projects many of which were revealed for the first time to the public. Such projects both completed and under construction captured the attention of visitors and investors said the organisers. They were displayed by leading local and international real estate firms developers and investors alongside representatives from regional and global development companies. Exhibitors at ...
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The inaugural edition of Acres Real Estate Exhibition 2024 organised at the Dubai World Trade Centre concluded on a high note Monday marking a significant milestone with substantial real estate deals for both local and international projects. The event attracted a remarkable turnout of visitors including citizens residents investors and businessmen from within and outside the UAE. During the four-day event the exhibition showcased numerous mega real estate projects many of which were revealed for the first time to the public. Such projects both completed and under construction captured the attention of visitors and investors said the organisers. They were displayed by leading local and international real estate firms developers and investors alongside representatives from regional and global development companies. Exhibitors at ...
Despite ongoing global challenges such as persistent inflation elevated interest rates and geopolitical tensions the total pipeline value of unawarded construction projects in the Middle East and North Africa (Mena) is set to reach 3.9 trillion with the UAE holding a significant share at 15% according to industry expert JLL. The UAE stands out with a high-value pipeline of 590 billion in the region s projects market with residential projects accounting for 125 billion (21%) and mixed-use projects representing 232 billion (39%) stated JLL in latest UAE Construction Market Intelligence Report based on insights gathered from industry sources and experts. As the dominant leader in the UAE s real estate market Dubai is witnessing a substantial 21% year-on-year surge in sales and rental prices having delivered around 10 000 residential units in Q1 2024. Approximat...
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Despite ongoing global challenges such as persistent inflation elevated interest rates and geopolitical tensions the total pipeline value of unawarded construction projects in the Middle East and North Africa (Mena) is set to reach 3.9 trillion with the UAE holding a significant share at 15% according to industry expert JLL. The UAE stands out with a high-value pipeline of 590 billion in the region s projects market with residential projects accounting for 125 billion (21%) and mixed-use projects representing 232 billion (39%) stated JLL in latest UAE Construction Market Intelligence Report based on insights gathered from industry sources and experts. As the dominant leader in the UAE s real estate market Dubai is witnessing a substantial 21% year-on-year surge in sales and rental prices having delivered around 10 000 residential units in Q1 2024. Approximat...
Qatar Free Zones Authority (QFZ) and FedEx Logistics have signed a Memorandum of Understanding (MoU) to set up a regional logistics facility in Qatar s free zones. The facility which will operate under the company s FedEx Trade Networks Transport & Brokerage division will be located at Ras Bufontas Free Zone and will include a state-of-the-art logistics office. The MoU was signed by Sheikh Mohammed H F Al-Thani CEO of Qatar Free Zones Authority (QFZ) and Patrick Moebel President and CEO of FedEx Logistics in a ceremony that took place on the sidelines of their participation at the Qatar Economic Forum following a productive panel discussion titled Connecting to the Shifting Global Supply Chain Network that brought together QFZ and FedEx Logistics. Key gateway T...
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Qatar Free Zones Authority (QFZ) and FedEx Logistics have signed a Memorandum of Understanding (MoU) to set up a regional logistics facility in Qatar s free zones. The facility which will operate under the company s FedEx Trade Networks Transport & Brokerage division will be located at Ras Bufontas Free Zone and will include a state-of-the-art logistics office. The MoU was signed by Sheikh Mohammed H F Al-Thani CEO of Qatar Free Zones Authority (QFZ) and Patrick Moebel President and CEO of FedEx Logistics in a ceremony that took place on the sidelines of their participation at the Qatar Economic Forum following a productive panel discussion titled Connecting to the Shifting Global Supply Chain Network that brought together QFZ and FedEx Logistics. Key gateway T...
Despite ongoing global challenges such as persistent inflation elevated interest rates and geopolitical tensions the total pipeline value of unawarded construction projects in the Middle East and North Africa (Mena) is set to reach 3.9 trillion with the UAE holding a significant share at 15% according to real estate industry expert JLL. The UAE stands out with a high-value pipeline of 590 billion in the region s projects market with residential projects accounting for 125 billion (21%) and mixed-use projects representing 232 billion (39%) stated JLL in latest UAE Construction Market Intelligence Report based on insights gathered from industry sources and experts. As the dominant leader in the UAE s real estate market Dubai is witnessing a substantial 21% year-on-year surge in sales and rental prices having delivered around 10 000 residential units in Q1 2024. di...
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Despite ongoing global challenges such as persistent inflation elevated interest rates and geopolitical tensions the total pipeline value of unawarded construction projects in the Middle East and North Africa (Mena) is set to reach 3.9 trillion with the UAE holding a significant share at 15% according to real estate industry expert JLL. The UAE stands out with a high-value pipeline of 590 billion in the region s projects market with residential projects accounting for 125 billion (21%) and mixed-use projects representing 232 billion (39%) stated JLL in latest UAE Construction Market Intelligence Report based on insights gathered from industry sources and experts. As the dominant leader in the UAE s real estate market Dubai is witnessing a substantial 21% year-on-year surge in sales and rental prices having delivered around 10 000 residential units in Q1 2024. di...
GWC Qatar s logistics leader plays a key role in shaping the country s 3PL cold chain market which is set for vigorous growth. As a regional trade commerce and logistics hub the State of Qatar recognises the need for robust cold chain infrastructure. The Qatar Freight Master Plan (QFMP) which was announced in February 2024 by the Ministry of Transport emphasises this momentum. Aligned with the Third Qatar National Development Strategy (2024-2030) the QFMP aims to position Qatar as a global hub for shipping; advancing the objectives of Qatar National Vision 2030. Stringent regulations and standards shape Qatar s cold chain market ensuring product integrity. Amid progress and innovation Qatar s cold chain market offers opportunity. With ongoing investments Qatar is set for cold chain sector growth aligning with its vision for a prosperous future. &nbs...
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GWC Qatar s logistics leader plays a key role in shaping the country s 3PL cold chain market which is set for vigorous growth. As a regional trade commerce and logistics hub the State of Qatar recognises the need for robust cold chain infrastructure. The Qatar Freight Master Plan (QFMP) which was announced in February 2024 by the Ministry of Transport emphasises this momentum. Aligned with the Third Qatar National Development Strategy (2024-2030) the QFMP aims to position Qatar as a global hub for shipping; advancing the objectives of Qatar National Vision 2030. Stringent regulations and standards shape Qatar s cold chain market ensuring product integrity. Amid progress and innovation Qatar s cold chain market offers opportunity. With ongoing investments Qatar is set for cold chain sector growth aligning with its vision for a prosperous future. &nbs...
Panasonic Electric Works Middle East & Africa (PEWMEA) a division of Panasonic Marketing Middle East and Africa FZE (PMMAF) has announced a strategic partnership with Safe Line Electrical & Mechanical LLC for promoting Panasonic Wiring Devices in UAE. Driven by increasing demand from the booming local construction market the development will enhance Panasonic s position as a leading provider of technologically-advanced and innovative wiring devices and accessories in the country as well as across the MEA region. A leading supplier of electrical products and solutions Safe Line Electrical and Mechanical has transformed into a multi-million-dollar corporate group with branches in the UAE Saudi Arabia Oman Qatar and India. The company is part of the Safe Line Group which ranks as one of the most prominent conglomerates in the UAE with interests in tra...
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Panasonic Electric Works Middle East & Africa (PEWMEA) a division of Panasonic Marketing Middle East and Africa FZE (PMMAF) has announced a strategic partnership with Safe Line Electrical & Mechanical LLC for promoting Panasonic Wiring Devices in UAE. Driven by increasing demand from the booming local construction market the development will enhance Panasonic s position as a leading provider of technologically-advanced and innovative wiring devices and accessories in the country as well as across the MEA region. A leading supplier of electrical products and solutions Safe Line Electrical and Mechanical has transformed into a multi-million-dollar corporate group with branches in the UAE Saudi Arabia Oman Qatar and India. The company is part of the Safe Line Group which ranks as one of the most prominent conglomerates in the UAE with interests in tra...
Digital transformation is set to play a pivotal role in the construction industry s advancement in the region with 97% of survey respondents integrating digital tools into their projects. This according to Turner & Townsend a leading global professional services company in the construction industry which has released its 2024 UAE market intelligence report based on a survey of construction professionals. The report shows the industry must adopt strategic initiatives including integrating cutting-edge technologies and embedding sustainability practices across the supply chain to counteract labour shortages and shrinking contractor pools. These factors will support growth and innovation in the sector according to the company s survey. Building Information Modelling This trend is set to con...
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Digital transformation is set to play a pivotal role in the construction industry s advancement in the region with 97% of survey respondents integrating digital tools into their projects. This according to Turner & Townsend a leading global professional services company in the construction industry which has released its 2024 UAE market intelligence report based on a survey of construction professionals. The report shows the industry must adopt strategic initiatives including integrating cutting-edge technologies and embedding sustainability practices across the supply chain to counteract labour shortages and shrinking contractor pools. These factors will support growth and innovation in the sector according to the company s survey. Building Information Modelling This trend is set to con...
Brookfield Asset Management today (May 2) announced that it has reached an agreement with Gulf Islamic Investments (GII) a leading Shari ah-compliant global alternative investment company to acquire a controlling stake in its logistics real estate platform. The transaction is being completed through one of Brookfield s private real estate funds said the New York-based company in a statement. The portfolio comprising 1.5 million sq ft of warehouses in the UAE marks Brookfield s foray into the logistics sector in the region. The firm plans to invest and scale the platform overtime through the acquisition and development of high-quality logistics real estate assets it stated. Established in 2014 with over 4.5 billion of assets under its management GII has been actively investing in logistics real estate assets since 2018. ...
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Brookfield Asset Management today (May 2) announced that it has reached an agreement with Gulf Islamic Investments (GII) a leading Shari ah-compliant global alternative investment company to acquire a controlling stake in its logistics real estate platform. The transaction is being completed through one of Brookfield s private real estate funds said the New York-based company in a statement. The portfolio comprising 1.5 million sq ft of warehouses in the UAE marks Brookfield s foray into the logistics sector in the region. The firm plans to invest and scale the platform overtime through the acquisition and development of high-quality logistics real estate assets it stated. Established in 2014 with over 4.5 billion of assets under its management GII has been actively investing in logistics real estate assets since 2018. ...
King Salman Energy Park (Spark) the leading industrial hub at the heart of the energy market has announced the appointment of Dave Lee as the CEO of Spark Logistics. Spark Logistics is a joint venture between Spark and Hutchison Ports to operate a state-of-the-art fully automated Logistics Zone and the region s largest dedicated private dry port. Lee s appointment is a significant step towards establishing Spark as a global hub for trade transport and logistics in line with the National Industrial Development and Logistics Programme. Key role Lee brings over two decades of experience in the logistics and port management industry. He has held several leadership positions at Hutchison Ports where he played a key role in driving the company s global expansion strategy carrying an innovative appro...
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King Salman Energy Park (Spark) the leading industrial hub at the heart of the energy market has announced the appointment of Dave Lee as the CEO of Spark Logistics. Spark Logistics is a joint venture between Spark and Hutchison Ports to operate a state-of-the-art fully automated Logistics Zone and the region s largest dedicated private dry port. Lee s appointment is a significant step towards establishing Spark as a global hub for trade transport and logistics in line with the National Industrial Development and Logistics Programme. Key role Lee brings over two decades of experience in the logistics and port management industry. He has held several leadership positions at Hutchison Ports where he played a key role in driving the company s global expansion strategy carrying an innovative appro...
WSP Middle East one of the world s leading professional services firms providing strategic advisory engineering and design services has announced the launch of its real estate advisory services unit in the region. This strategic move speaks directly to evolving market dynamics in which more clients are seeking out comprehensive end-to-end project lifecycle services underneath a unified platform said a statement from WSP. With over 3 000 trusted professionals across the region WSP Middle East comprises four multi-disciplinary business units which are geared towards future-proofing the built and natural environments - Advisory Services Transport & Infrastructure Project Management Services and Property & Buildings. WSP s Real Estate Advisory team will be led by Michael Heitmann as well as Gabriella De La Torre and Arash Darabnia both s...
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WSP Middle East one of the world s leading professional services firms providing strategic advisory engineering and design services has announced the launch of its real estate advisory services unit in the region. This strategic move speaks directly to evolving market dynamics in which more clients are seeking out comprehensive end-to-end project lifecycle services underneath a unified platform said a statement from WSP. With over 3 000 trusted professionals across the region WSP Middle East comprises four multi-disciplinary business units which are geared towards future-proofing the built and natural environments - Advisory Services Transport & Infrastructure Project Management Services and Property & Buildings. WSP s Real Estate Advisory team will be led by Michael Heitmann as well as Gabriella De La Torre and Arash Darabnia both s...
A report released by the World Economic Forum s (WEF s) Centre for Urban Transformation has featured best practices developed by pioneer cities that are reducing carbon emissions from urban development projects a news agency said. As cities grow in population and importance urban construction will continue to gather pace. It is estimated that the global floor area is expected to double by 2060 the equivalent of building out New York City every month for the next 40 years Emirates News Agency said citing the report. The report Reducing Embodied Carbon in Cities: Nine Solutions for Greener Buildings and Communities highlights nine innovative solutions for all phases of construction and demolition. In recent years a growing number of cities have taken decisive action to help bolster the operational efficiency of buildings said Jeff Merritt Head of Urban Transformation at the World Economic Forum. ...
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A report released by the World Economic Forum s (WEF s) Centre for Urban Transformation has featured best practices developed by pioneer cities that are reducing carbon emissions from urban development projects a news agency said. As cities grow in population and importance urban construction will continue to gather pace. It is estimated that the global floor area is expected to double by 2060 the equivalent of building out New York City every month for the next 40 years Emirates News Agency said citing the report. The report Reducing Embodied Carbon in Cities: Nine Solutions for Greener Buildings and Communities highlights nine innovative solutions for all phases of construction and demolition. In recent years a growing number of cities have taken decisive action to help bolster the operational efficiency of buildings said Jeff Merritt Head of Urban Transformation at the World Economic Forum. ...
In a landmark move set to transform the construction landscape of Saudi Arabia WakeCap a Saudi-based leader in smart solutions for construction project management and OpenSpace a US-based leader in reality capture and AI-powered analytics announce a strategic partnership aimed at making cutting-edge global technology easily accessible to the local market. WakeCap provides real-time insights into worker activity and equipment usage through its smart hard hat solution. These data are designed to help project owners make informed decisions to enhance site safety streamline workflows and optimize project execution. OpenSpace is a leading AI construction tech company that helps commercial builders operate more efficiently and with less risk. This strategic partnership between WakeCap and OpenSpace is set to revolutionize the Saudi construction sector. /d...
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In a landmark move set to transform the construction landscape of Saudi Arabia WakeCap a Saudi-based leader in smart solutions for construction project management and OpenSpace a US-based leader in reality capture and AI-powered analytics announce a strategic partnership aimed at making cutting-edge global technology easily accessible to the local market. WakeCap provides real-time insights into worker activity and equipment usage through its smart hard hat solution. These data are designed to help project owners make informed decisions to enhance site safety streamline workflows and optimize project execution. OpenSpace is a leading AI construction tech company that helps commercial builders operate more efficiently and with less risk. This strategic partnership between WakeCap and OpenSpace is set to revolutionize the Saudi construction sector. /d...
Victaulic the US-headquartered expert in mechanical pipe joining systems has announced the strategic hire of Neil Wypior an industry veteran as the offsite construction manager for KSA. With over two decades of experience Neil brings unparalleled expertise poised to drive the company s ambition to embed itself across Saudi Arabia s fast-growing construction sector said the US group in a statement. With extensive expertise in industrialised construction and mechanical electrical and plumbing (MEP) solutions along with a specialisation in modular construction Neil will drive Victaulic s growth and presence across Saudi Arabia. Lauding the appointment Branden Kotyk vice president and general manager EMEA Victaulic said: Saudi Arabia continues to experience a surge in construction across megaprojects housing infrastructure and more....
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Victaulic the US-headquartered expert in mechanical pipe joining systems has announced the strategic hire of Neil Wypior an industry veteran as the offsite construction manager for KSA. With over two decades of experience Neil brings unparalleled expertise poised to drive the company s ambition to embed itself across Saudi Arabia s fast-growing construction sector said the US group in a statement. With extensive expertise in industrialised construction and mechanical electrical and plumbing (MEP) solutions along with a specialisation in modular construction Neil will drive Victaulic s growth and presence across Saudi Arabia. Lauding the appointment Branden Kotyk vice president and general manager EMEA Victaulic said: Saudi Arabia continues to experience a surge in construction across megaprojects housing infrastructure and more....
Halifax-based Irving Shipbuilding has awarded a contract to provide inbound logistics services for ship construction and repair projects has been awarded to global logistics company Geodis. The contract which will be managed by Geodis Project Logistics team in Canada with support from the company s global network of offices will cover all inbound shipments to ISI facilities in Halifax Nova Scotia to supply three shipbuilding programmes: the Canadian Surface Combatant Arctic Offshore Patrol Ships and Halifax Class Frigate Repair Contracts. Utilising Geodis proprietary IT systems ISI will achieve total asset visibility throughout their supply chain. Geodis was selected based on its global presence and industry-leading logistics capabilities combined with a commitment to engage with local companies to provide this critical service. Accordingly this contract helps Irving Ship...
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Halifax-based Irving Shipbuilding has awarded a contract to provide inbound logistics services for ship construction and repair projects has been awarded to global logistics company Geodis. The contract which will be managed by Geodis Project Logistics team in Canada with support from the company s global network of offices will cover all inbound shipments to ISI facilities in Halifax Nova Scotia to supply three shipbuilding programmes: the Canadian Surface Combatant Arctic Offshore Patrol Ships and Halifax Class Frigate Repair Contracts. Utilising Geodis proprietary IT systems ISI will achieve total asset visibility throughout their supply chain. Geodis was selected based on its global presence and industry-leading logistics capabilities combined with a commitment to engage with local companies to provide this critical service. Accordingly this contract helps Irving Ship...
Dubai South the largest single-urban master development focusing on aviation logistics and real estate has joined forces with Aldar the leading real estate developer investor and manager in the UAE to break ground on its first logistics facility. The Grade A logistics complex spanning approximately 23 000 sq m of gross floor area is strategically located near Al Maktoum International Airport and is scheduled for completion by the end of 2024 said a statement from Dubai South. The facility offers bonded and non-bonded access as well as providing a usable eaves height of 16 metres and being temperature controlled to 24 degrees Celsius it stated. This comes as part of an agreement signed recently by the duo to develop Grade A logistics facilities at Dubai South s Logistics District it added. On the new venture Mohsen Ahma...
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Dubai South the largest single-urban master development focusing on aviation logistics and real estate has joined forces with Aldar the leading real estate developer investor and manager in the UAE to break ground on its first logistics facility. The Grade A logistics complex spanning approximately 23 000 sq m of gross floor area is strategically located near Al Maktoum International Airport and is scheduled for completion by the end of 2024 said a statement from Dubai South. The facility offers bonded and non-bonded access as well as providing a usable eaves height of 16 metres and being temperature controlled to 24 degrees Celsius it stated. This comes as part of an agreement signed recently by the duo to develop Grade A logistics facilities at Dubai South s Logistics District it added. On the new venture Mohsen Ahma...
The value of real estate transactions in the Emirate of Abu Dhabi reached AED15.9 billion ( 4.32 billion) during the first quarter of 2024 (Q1 2024) registering 5 127 sales and mortgage transactions on various types of real estate units a report said. The emirate logged 2 919 sales and purchases transactions in Q1 2024 totalling over AED9.6 billion. This includes 1 167 ready-made real estate units and 1 752 off-plan units Emirates News agency WAM said citing data from the DARI platform of the Department of Municipalities and Transport (DMT) in Abu Dhabi. DARI data showed that the Emirate of Abu Dhabi recorded about 2 208 mortgage deals during Q1 with a total value of AED6.3 billion. Meanwhile the top three real estate transactions logged in Abu Dhabi during the past week with Al Saadiyat Island and Yas Island topping the list of the largest transactions for Aldar Properties projects. The total value of transactions on Yas Island amounte...
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The value of real estate transactions in the Emirate of Abu Dhabi reached AED15.9 billion ( 4.32 billion) during the first quarter of 2024 (Q1 2024) registering 5 127 sales and mortgage transactions on various types of real estate units a report said. The emirate logged 2 919 sales and purchases transactions in Q1 2024 totalling over AED9.6 billion. This includes 1 167 ready-made real estate units and 1 752 off-plan units Emirates News agency WAM said citing data from the DARI platform of the Department of Municipalities and Transport (DMT) in Abu Dhabi. DARI data showed that the Emirate of Abu Dhabi recorded about 2 208 mortgage deals during Q1 with a total value of AED6.3 billion. Meanwhile the top three real estate transactions logged in Abu Dhabi during the past week with Al Saadiyat Island and Yas Island topping the list of the largest transactions for Aldar Properties projects. The total value of transactions on Yas Island amounte...
Abu Dhabi s construction sector showed a remarkable growth of 13.1 percent in 2023 compared to 2022 with the added value of this sector reaching more than AED97 billion ( 26.41 billion) the highest in 10 years. The sector contributed 8.5 percent to the emirate s gross domestic product during the same period according to preliminary estimates by Statistics Centre - Abu Dhabi (SCAD). The real estate activities grew 5.8 percent during in 2023 compared to 2022. Meanwhile the non-oil economy recorded a remarkable growth of 9.1 percent in 2023 while the overall real GDP growth was 3.1 percent compared to 2022 the estimates said. Making significant strides were sectors such as in construction finance and insurance and transportation and storage which contributed over 53 percent to the total GDP a Wam news agenc...
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Abu Dhabi s construction sector showed a remarkable growth of 13.1 percent in 2023 compared to 2022 with the added value of this sector reaching more than AED97 billion ( 26.41 billion) the highest in 10 years. The sector contributed 8.5 percent to the emirate s gross domestic product during the same period according to preliminary estimates by Statistics Centre - Abu Dhabi (SCAD). The real estate activities grew 5.8 percent during in 2023 compared to 2022. Meanwhile the non-oil economy recorded a remarkable growth of 9.1 percent in 2023 while the overall real GDP growth was 3.1 percent compared to 2022 the estimates said. Making significant strides were sectors such as in construction finance and insurance and transportation and storage which contributed over 53 percent to the total GDP a Wam news agenc...
GFH Partners a subsidiary of Bahrain-based GFH Financial Group has announced that it has concluded investments worth 450 million in the US real estate sector between the fourth quarter of 2023 and the first quarter of 2024. These are built on GFH Partners thematic investing into the fundamentally strong medical clinics and student housing segments of the US real estate market each benefiting from proven rental growth low national vacancy and market stability. In the Medical Clinics sector GFH Partners has acquired a portfolio of assets worth 150 million. This portfolio was carefully chosen on an asset-by-asset basis targeting markets within states exhibiting favorable long-term demographic trends low tax environments and growing inward migration in line with the firm s SWAN (Sleep Well at Night) investing philosophy. The portfoli...
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GFH Partners a subsidiary of Bahrain-based GFH Financial Group has announced that it has concluded investments worth 450 million in the US real estate sector between the fourth quarter of 2023 and the first quarter of 2024. These are built on GFH Partners thematic investing into the fundamentally strong medical clinics and student housing segments of the US real estate market each benefiting from proven rental growth low national vacancy and market stability. In the Medical Clinics sector GFH Partners has acquired a portfolio of assets worth 150 million. This portfolio was carefully chosen on an asset-by-asset basis targeting markets within states exhibiting favorable long-term demographic trends low tax environments and growing inward migration in line with the firm s SWAN (Sleep Well at Night) investing philosophy. The portfoli...
AstroLabs a leading business expansion platform in the Gulf has expanded Sadeer General Trading & Contracting Company to Saudi Arabia to drive development in the kingdom s tourism and manufacturing sectors. This strategic collaboration arrives at an opportune moment with Saudi Arabia intensifying its manufacturing and tourism projects as a core part of its ambitious national vision. Established in 1973 and recognised as one of the oldest market leaders in Kuwait Sadeer has a rich legacy of excellence in the fields of manufacturing design and interior finishing particularly in bespoke interior fit-out works. With a dedicated factory in Kuwait the company boasts a rich history of regional expertise offering a suite of specialised products backed by a seasoned engineering team and an advanced production facility. Tou...
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AstroLabs a leading business expansion platform in the Gulf has expanded Sadeer General Trading & Contracting Company to Saudi Arabia to drive development in the kingdom s tourism and manufacturing sectors. This strategic collaboration arrives at an opportune moment with Saudi Arabia intensifying its manufacturing and tourism projects as a core part of its ambitious national vision. Established in 1973 and recognised as one of the oldest market leaders in Kuwait Sadeer has a rich legacy of excellence in the fields of manufacturing design and interior finishing particularly in bespoke interior fit-out works. With a dedicated factory in Kuwait the company boasts a rich history of regional expertise offering a suite of specialised products backed by a seasoned engineering team and an advanced production facility. Tou...
Procore a leading global provider of construction management software recently hosted its Smart Build Forum at JW Marriott Hotel Marina Dubai with the goal to bring together construction leaders and visionaries to spark a dialogue on the seamless integration of technology in construction to boost operational efficiency and drive innovation. The Smart Build Forum featured a distinguished line-up of CEOs CFOs COOs founders and other key figures from the construction sector. Their collective insights underscored the strategic value of technology as a driving force behind innovation sustainability and resilience. Procore alongside several industry leaders also emphasised the need to successfully navigate change in construction in a way that fosters a culture of innovation. In addition construction leaders shared valuable data and insights with stakeholders about the focus areas in the coming year. /d...
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Procore a leading global provider of construction management software recently hosted its Smart Build Forum at JW Marriott Hotel Marina Dubai with the goal to bring together construction leaders and visionaries to spark a dialogue on the seamless integration of technology in construction to boost operational efficiency and drive innovation. The Smart Build Forum featured a distinguished line-up of CEOs CFOs COOs founders and other key figures from the construction sector. Their collective insights underscored the strategic value of technology as a driving force behind innovation sustainability and resilience. Procore alongside several industry leaders also emphasised the need to successfully navigate change in construction in a way that fosters a culture of innovation. In addition construction leaders shared valuable data and insights with stakeholders about the focus areas in the coming year. /d...
Qatar s Barwa Real Estate Group has appointed Ahmed Mohamed Al Tayeb as the CEO of the company effective March 24. Al Tayeb has extensive experience in the real estate development and project management areas. He has previously held executive positions in several national companies and institutions including as the CEO of the Investment Sector at Qatari Diar Real Estate Investment Company where he managed a portfolio worth 35 billion said a report in The Peninsula newspaper. He holds a Master s degree in Electrical Engineering from the University of Colorado Denver in the United States. Abdullah bin Hamad Al Attiyah Chairman of the Board of Directors and all board members welcomed Ahmed Al Tayeb to his new position expressing their confidence in him. ...
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Qatar s Barwa Real Estate Group has appointed Ahmed Mohamed Al Tayeb as the CEO of the company effective March 24. Al Tayeb has extensive experience in the real estate development and project management areas. He has previously held executive positions in several national companies and institutions including as the CEO of the Investment Sector at Qatari Diar Real Estate Investment Company where he managed a portfolio worth 35 billion said a report in The Peninsula newspaper. He holds a Master s degree in Electrical Engineering from the University of Colorado Denver in the United States. Abdullah bin Hamad Al Attiyah Chairman of the Board of Directors and all board members welcomed Ahmed Al Tayeb to his new position expressing their confidence in him. ...
The creators behind Palm Living Interiors and Palm Living Renovations a trailblazer in minimalist contemporary and chic home designs have unveiled their latest endeavour: Palm Living Real Estate. Spearheaded by two visionary British female entrepreneurs Nikki Martin and Karen Dougall the brand has been at the forefront of luxury interiors and renovations since its inception in 2020 and has now extended its reach into the realm of real estate. Marking an exciting chapter in the company s journey Palm Living Real Estate will be the third of the dynamic duo s portfolio of brands with the latter further solidifying its presence in the landscape of Dubai s real estate market. With a profound understanding of the region s unique aesthetic preferences and lifestyle aspirations Nikki and Karen identified an opportunity to offer a comprehensive full 360 approach to clients seeking to buy renovate and furnish properties in the UAE. /...
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The creators behind Palm Living Interiors and Palm Living Renovations a trailblazer in minimalist contemporary and chic home designs have unveiled their latest endeavour: Palm Living Real Estate. Spearheaded by two visionary British female entrepreneurs Nikki Martin and Karen Dougall the brand has been at the forefront of luxury interiors and renovations since its inception in 2020 and has now extended its reach into the realm of real estate. Marking an exciting chapter in the company s journey Palm Living Real Estate will be the third of the dynamic duo s portfolio of brands with the latter further solidifying its presence in the landscape of Dubai s real estate market. With a profound understanding of the region s unique aesthetic preferences and lifestyle aspirations Nikki and Karen identified an opportunity to offer a comprehensive full 360 approach to clients seeking to buy renovate and furnish properties in the UAE. /...
SAL Saudi Logistics Services (SAL) a market leading air cargo handler and a member of Saudi Arabian Airlines Corporation said it has signed an agreement with Taiba Airports Operation Company for the leasing of a prime plot at Prince Mohammed bin Abdulaziz International Airport in Madinah. The transaction which is valued at SAR420 000 per year (or a percentage of the revenue whichever is higher) is for a land area of 7 500 sq m (3 500 actual sq m and 4 000 sq m reserved) for a period of 16 years said SAL in its filing to the Saudi bourse Tadawul. On the expected impact of the transaction SAL said the agreement reduces rental costs by SAR34.3 million throughout the contract period. As per the deal the area of land can be utilised for the benefit of SAL for the purpose of expansion it stated in the bourse filing. It is expected tha...
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SAL Saudi Logistics Services (SAL) a market leading air cargo handler and a member of Saudi Arabian Airlines Corporation said it has signed an agreement with Taiba Airports Operation Company for the leasing of a prime plot at Prince Mohammed bin Abdulaziz International Airport in Madinah. The transaction which is valued at SAR420 000 per year (or a percentage of the revenue whichever is higher) is for a land area of 7 500 sq m (3 500 actual sq m and 4 000 sq m reserved) for a period of 16 years said SAL in its filing to the Saudi bourse Tadawul. On the expected impact of the transaction SAL said the agreement reduces rental costs by SAR34.3 million throughout the contract period. As per the deal the area of land can be utilised for the benefit of SAL for the purpose of expansion it stated in the bourse filing. It is expected tha...
Bahrain-based GFH Financial Group a leading entity with interests in key sectors such as asset management and real estate has announced the appointment of Zayed R. Alzayani as the Chairman of the Board of its subsidiary Roebuck a Pan European real estate logistics investor and asset manager headquartered in London. GFH had in December 2020 acquired a majority stake in Roebuck which has managed assets across the UK and Europe with a total assets under management of 1 billion ( 1.35 billion) covering 30 million sq ft of gross leasable area. Founded in 2009 Roebuck said its primary focus has been on the acquisition and management of logistics real estate assets. It has currently 90 total assets managed across the UK and Europe such as Spain Belgium France Germany Ireland and Czech Republic it stated. Alzayani brings to Roebuck s Board nearly four d...
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Bahrain-based GFH Financial Group a leading entity with interests in key sectors such as asset management and real estate has announced the appointment of Zayed R. Alzayani as the Chairman of the Board of its subsidiary Roebuck a Pan European real estate logistics investor and asset manager headquartered in London. GFH had in December 2020 acquired a majority stake in Roebuck which has managed assets across the UK and Europe with a total assets under management of 1 billion ( 1.35 billion) covering 30 million sq ft of gross leasable area. Founded in 2009 Roebuck said its primary focus has been on the acquisition and management of logistics real estate assets. It has currently 90 total assets managed across the UK and Europe such as Spain Belgium France Germany Ireland and Czech Republic it stated. Alzayani brings to Roebuck s Board nearly four d...
UAE-based Pharmatrade has announced the opening of its new logistics centre within the Khalifa Economic Zones Abu Dhabi development. The Emirati group said the expansion of its business over the last 13 years since opening its Logistics Centre in Dubai Investment Park 1 prompted the group to invest in a new logistics centre in Kezad. Through this new complex Pharmatrade aims to ramp up the storage and distribution of its pharmaceutical and medical device range of products to serve the UAE s healthcare sector it stated. Kezad Logistics Park Phase 5 which houses Pharmatrade s Logistics Centre is a cluster of temperature-controlled Grade A industrial warehouse facilities with modern specifications that offer several different configurations to meet client needs and boost logistics efficiency. Speaking at ...
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UAE-based Pharmatrade has announced the opening of its new logistics centre within the Khalifa Economic Zones Abu Dhabi development. The Emirati group said the expansion of its business over the last 13 years since opening its Logistics Centre in Dubai Investment Park 1 prompted the group to invest in a new logistics centre in Kezad. Through this new complex Pharmatrade aims to ramp up the storage and distribution of its pharmaceutical and medical device range of products to serve the UAE s healthcare sector it stated. Kezad Logistics Park Phase 5 which houses Pharmatrade s Logistics Centre is a cluster of temperature-controlled Grade A industrial warehouse facilities with modern specifications that offer several different configurations to meet client needs and boost logistics efficiency. Speaking at ...
The Investment Promotion Agency Qatar (Qatar Invest) showcased some of its latest real estate projects at MIPIM 2024 a premier real estate event held recently in Cannes France in collaboration with Qatari Diar United Development Company and Ariane Real Estate. These projects were presented under the Qatar Pavilion at MIPIM 2024 which provided visitors with an exclusive glimpse of these key developments as well as put spotlight on the rapidly evolving real estate sector and its business-friendly regulations as well as the investment opportunities available in Qatar. In line with the national real estate promotion strategy aimed at diversifying the economy and attracting foreign investment Invest Qatar hosted a series of business engagements with industry leaders developers and investors. These networking meetings held over the four-day event facilitated connecti...
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The Investment Promotion Agency Qatar (Qatar Invest) showcased some of its latest real estate projects at MIPIM 2024 a premier real estate event held recently in Cannes France in collaboration with Qatari Diar United Development Company and Ariane Real Estate. These projects were presented under the Qatar Pavilion at MIPIM 2024 which provided visitors with an exclusive glimpse of these key developments as well as put spotlight on the rapidly evolving real estate sector and its business-friendly regulations as well as the investment opportunities available in Qatar. In line with the national real estate promotion strategy aimed at diversifying the economy and attracting foreign investment Invest Qatar hosted a series of business engagements with industry leaders developers and investors. These networking meetings held over the four-day event facilitated connecti...
Khalifa Economic Zones Abu Dhabi Kezad Group and the UAE-based Pharmatrade have opened Pharmatrade s Abu Dhabi Logistics Centre which will ensure uninterrupted medical supplies to Abu Dhabi and Al Ain. The new logistics centre will ramp up the storage and distribution of its Pharmaceutical and Medical Device range of products to serve the UAE s healthcare sector. The expansion of its business over the last 13 years since the opening of its Logistics Centre in Dubai Investment Park 1 prompted Pharmatrade one of the largest companies in the healthcare sector to invest in a new logistics centre in Kezad. Kezad Logistics Park Phase 5 Kezad Logistics Park Phase 5 which houses Pharmatrade s Logistics Centre is a cluster of temperature-controlled Grade A industrial warehouse facilities with ...
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Khalifa Economic Zones Abu Dhabi Kezad Group and the UAE-based Pharmatrade have opened Pharmatrade s Abu Dhabi Logistics Centre which will ensure uninterrupted medical supplies to Abu Dhabi and Al Ain. The new logistics centre will ramp up the storage and distribution of its Pharmaceutical and Medical Device range of products to serve the UAE s healthcare sector. The expansion of its business over the last 13 years since the opening of its Logistics Centre in Dubai Investment Park 1 prompted Pharmatrade one of the largest companies in the healthcare sector to invest in a new logistics centre in Kezad. Kezad Logistics Park Phase 5 Kezad Logistics Park Phase 5 which houses Pharmatrade s Logistics Centre is a cluster of temperature-controlled Grade A industrial warehouse facilities with ...
FedEx has been working for decades to empower women in what is perceived to be a male-dominated sector and to advance their careers through training and mentorship. At FedEx women are making a difference across the organisation and challenging biases. The company recognises people as individuals and knows that treating everyone equally does not necessarily mean treating them the same FedEx release said. FedEx has an Equal Opportunity Policy ensuring no team member receives unfair treatment on the grounds of gender age or nationality when applying for a position or accessing mentorship or development opportunities. Diversity Equity and Inclusion FedEx also has a Diversity Equity and Inclusion Council which helps build on existing initiatives and programmes and continually identifies areas for impr...
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FedEx has been working for decades to empower women in what is perceived to be a male-dominated sector and to advance their careers through training and mentorship. At FedEx women are making a difference across the organisation and challenging biases. The company recognises people as individuals and knows that treating everyone equally does not necessarily mean treating them the same FedEx release said. FedEx has an Equal Opportunity Policy ensuring no team member receives unfair treatment on the grounds of gender age or nationality when applying for a position or accessing mentorship or development opportunities. Diversity Equity and Inclusion FedEx also has a Diversity Equity and Inclusion Council which helps build on existing initiatives and programmes and continually identifies areas for impr...
Novade Solutions a global leader in cloud-based field management software has announced a groundbreaking collaboration with WakeCap a leader in smart solutions for construction site management that will see the duo deliver unprecedented levels of safety quality and productivity on large construction projects. Headquartered in Singapore Novade is a leading provider of field management software trusted by the world s largest companies in the building and infrastructure industry that has deployed on over 10 000 sites globally. With Novade site processes such as permits to work (PTWs) safety inspections quality inspections or site diaries are digitized and automated using mobile devices. The data captured provides insights to streamline operations and improve performance. The partnership will see Novade Solutions and WakeCap work together to integrate advanced soft...
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Novade Solutions a global leader in cloud-based field management software has announced a groundbreaking collaboration with WakeCap a leader in smart solutions for construction site management that will see the duo deliver unprecedented levels of safety quality and productivity on large construction projects. Headquartered in Singapore Novade is a leading provider of field management software trusted by the world s largest companies in the building and infrastructure industry that has deployed on over 10 000 sites globally. With Novade site processes such as permits to work (PTWs) safety inspections quality inspections or site diaries are digitized and automated using mobile devices. The data captured provides insights to streamline operations and improve performance. The partnership will see Novade Solutions and WakeCap work together to integrate advanced soft...
Sharjah Consultative Council (SCC) has approved a draft law for the year 2024 regarding real estate leasing in the northern emirate after introducing a number of amendments on the draft law in the sixth meeting of the first regular session of the eleventh legislative term. This makes the draft law the second that the Council will discuss at the beginning of its work for the eleventh legislative term reported Wam. The Council discussed the draft law on leasing real estate and reviewed the report received by the Council s Legislative and Legal Affairs Appeals Suggestions and Complaints Committee at the meeting chaired by Dr Abdullah Belhaif Al Nuaimi. Lauding the move Counselor Dr Mansour Mohammed bin Nassar Head of the Legal Department of the Government of Sharjah said the current draft law was significnat as it represents a work system that adds to the gains ...
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Sharjah Consultative Council (SCC) has approved a draft law for the year 2024 regarding real estate leasing in the northern emirate after introducing a number of amendments on the draft law in the sixth meeting of the first regular session of the eleventh legislative term. This makes the draft law the second that the Council will discuss at the beginning of its work for the eleventh legislative term reported Wam. The Council discussed the draft law on leasing real estate and reviewed the report received by the Council s Legislative and Legal Affairs Appeals Suggestions and Complaints Committee at the meeting chaired by Dr Abdullah Belhaif Al Nuaimi. Lauding the move Counselor Dr Mansour Mohammed bin Nassar Head of the Legal Department of the Government of Sharjah said the current draft law was significnat as it represents a work system that adds to the gains ...
The International Federation of Freight Forwarders Associations (FIATA) RAME Field Meeting and Conference 2024 closed successfully in Dubai committing to working together to address the current disruptions in the logistics sector. An important outcome of the conference was the signing of a Memorandum of Understanding (MoU) between the UAE National Association of Freight & Logistics (NAFL) and Kale Logistics a leading provider of comprehensive cloud enterprise systems for the logistics sector. The partnership will focus on developing digital solutions to streamline processes and data analytics to facilitate trade. This will further drive the digitalisation of the sector in the UAE and enable NAFL stakeholders members and the private sector in general to improve efficiency and transparency and benefit from a digital platform that supports operational processes and data sharing between stakeholders and facilita...
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The International Federation of Freight Forwarders Associations (FIATA) RAME Field Meeting and Conference 2024 closed successfully in Dubai committing to working together to address the current disruptions in the logistics sector. An important outcome of the conference was the signing of a Memorandum of Understanding (MoU) between the UAE National Association of Freight & Logistics (NAFL) and Kale Logistics a leading provider of comprehensive cloud enterprise systems for the logistics sector. The partnership will focus on developing digital solutions to streamline processes and data analytics to facilitate trade. This will further drive the digitalisation of the sector in the UAE and enable NAFL stakeholders members and the private sector in general to improve efficiency and transparency and benefit from a digital platform that supports operational processes and data sharing between stakeholders and facilita...
SPARK Logistics has signed two Memoranda of Understanding (MoUs) with ESAB a world leader in welding equipment and Petromasafi a key supplier of oil and gas chemical products to explore leasing opportunities. SPARK Logistics a joint venture between King Salman Energy Park (SPARK) and Hutchison Ports is the operator of the SPARK dry port and these MoUs will facilitate the leasing of existing prebuilt facilities located within the SPARK s dry port bonded area. The agreements will enable the leasing of pre-built facilities spanning an area of over 15 000 sq m which will serve as light manufacturing and distribution centers for ESAB and Petromasafi enhancing the delivery of products and services to the oil and gas sector. The facilities will be utilised for the production storage and distribution of important equipment and chemicals. span style= font-size:1...
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SPARK Logistics has signed two Memoranda of Understanding (MoUs) with ESAB a world leader in welding equipment and Petromasafi a key supplier of oil and gas chemical products to explore leasing opportunities. SPARK Logistics a joint venture between King Salman Energy Park (SPARK) and Hutchison Ports is the operator of the SPARK dry port and these MoUs will facilitate the leasing of existing prebuilt facilities located within the SPARK s dry port bonded area. The agreements will enable the leasing of pre-built facilities spanning an area of over 15 000 sq m which will serve as light manufacturing and distribution centers for ESAB and Petromasafi enhancing the delivery of products and services to the oil and gas sector. The facilities will be utilised for the production storage and distribution of important equipment and chemicals. span style= font-size:1...
Saudi Arabia s first electric vehicle brand and original equipment manufacturer (OEM) Ceer has awarded a SAR5 billion ( 1.3 billion) contract to Modern Building Leaders (MBL) for the construction of its new manufacturing complex within King Abdullah Economic City. Spanning over a 1 million sq m area the new Ceer Electric Vehicle Manufacturing Complex will boast dedicated zones for every stage of vehicle production including a press shop body shop paint shop and general assembly. Additionally the complex which will have an area under roof of 530 000 sq m will feature special areas for logistics waste management warehouses offices water treatment system and a vehicle test track. A joint venture between Saudi sovereign wealth fund PIF and Foxconn a Taiwanese multinational electronics contract manufacturer Ceer was set up in 2022 to support the electric ...
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Saudi Arabia s first electric vehicle brand and original equipment manufacturer (OEM) Ceer has awarded a SAR5 billion ( 1.3 billion) contract to Modern Building Leaders (MBL) for the construction of its new manufacturing complex within King Abdullah Economic City. Spanning over a 1 million sq m area the new Ceer Electric Vehicle Manufacturing Complex will boast dedicated zones for every stage of vehicle production including a press shop body shop paint shop and general assembly. Additionally the complex which will have an area under roof of 530 000 sq m will feature special areas for logistics waste management warehouses offices water treatment system and a vehicle test track. A joint venture between Saudi sovereign wealth fund PIF and Foxconn a Taiwanese multinational electronics contract manufacturer Ceer was set up in 2022 to support the electric ...
Bahrain has registered an uptick in the real estate transaction volumes in the kingdom for FY 2023 with its total soaring to 9 362 in Q4 2023 according to global real estate advisory firm CBRE. This marks a 65.4% year-on-year growth and a 82% QoQ jump compared to Q3 2023 stated the report citing Survey and Land Registration Bureau (SLRB) data. On the residential sector the real estate specialist said the average apartment sales rates across the kingdom grew by 2.5% from 2022 to 2023. Villa sales rates based on title deed area declined marginally by 0.44% YoY in 2023 overall. In the rental market mid- to high-end quoted apartment rates fell by 1.7% in the year to Q4 2023. Over the same period mid- to high-end villa rates remained relatively stable witnessing only a marginal 0.1% decline said CBRE in its Bahrain Real Estate Market Review Q4 2023.  ...
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Bahrain has registered an uptick in the real estate transaction volumes in the kingdom for FY 2023 with its total soaring to 9 362 in Q4 2023 according to global real estate advisory firm CBRE. This marks a 65.4% year-on-year growth and a 82% QoQ jump compared to Q3 2023 stated the report citing Survey and Land Registration Bureau (SLRB) data. On the residential sector the real estate specialist said the average apartment sales rates across the kingdom grew by 2.5% from 2022 to 2023. Villa sales rates based on title deed area declined marginally by 0.44% YoY in 2023 overall. In the rental market mid- to high-end quoted apartment rates fell by 1.7% in the year to Q4 2023. Over the same period mid- to high-end villa rates remained relatively stable witnessing only a marginal 0.1% decline said CBRE in its Bahrain Real Estate Market Review Q4 2023.  ...
AJEX Logistics Services is nurturing young female graduates entry into the logistics sector in Saudi Arabia which is targeting 30% female participation in the workforce by 2030. In collaboration with the Ministry of Transport and Logistics and through initiatives like the Saudi Logistics Academy (SLA) programme AJEX is equipping women with the necessary skills to excel in logistics. Furthermore AJEX s internal Future Leader Programme is a testament to its commitment to developing women leaders within the industry providing a robust four-year development pathway from frontline roles to senior management. Today these women are employed in vital roles across the sector helping to propel the industry forward. Evolution of global trade For example Customer Care Manager at AJEX Atheer Al...
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AJEX Logistics Services is nurturing young female graduates entry into the logistics sector in Saudi Arabia which is targeting 30% female participation in the workforce by 2030. In collaboration with the Ministry of Transport and Logistics and through initiatives like the Saudi Logistics Academy (SLA) programme AJEX is equipping women with the necessary skills to excel in logistics. Furthermore AJEX s internal Future Leader Programme is a testament to its commitment to developing women leaders within the industry providing a robust four-year development pathway from frontline roles to senior management. Today these women are employed in vital roles across the sector helping to propel the industry forward. Evolution of global trade For example Customer Care Manager at AJEX Atheer Al...
UAE represented by the AD Ports Group and Iraq have discussed a number of projects pivotal to international transport logistics services and economic cooperation in the region. Welcoming an Iraqi delegation headed by Razzaq Muhaibas Al-Saadawi Iraq s Minister of Transport alongside key figures and leaders in business investment and development sectors Suhail bin Mohammed Al Mazrouei UAE s Minister of Energy and Infrastructure said: We are pleased to host Razzaq Al-Saadawi and the esteemed Iraqi delegation in the UAE. Meetings with our Iraqi counterparts have consistently resulted in a strong desire to advance relations between the two nations. Our meeting today at Khalifa Port represents a progressive step towards strengthening the regional and global position of both the UAE and Iraq. We see this collaboration elevating the transportation and logistics sectors to unparalleled levels of competitiveness and appeal throug...
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UAE represented by the AD Ports Group and Iraq have discussed a number of projects pivotal to international transport logistics services and economic cooperation in the region. Welcoming an Iraqi delegation headed by Razzaq Muhaibas Al-Saadawi Iraq s Minister of Transport alongside key figures and leaders in business investment and development sectors Suhail bin Mohammed Al Mazrouei UAE s Minister of Energy and Infrastructure said: We are pleased to host Razzaq Al-Saadawi and the esteemed Iraqi delegation in the UAE. Meetings with our Iraqi counterparts have consistently resulted in a strong desire to advance relations between the two nations. Our meeting today at Khalifa Port represents a progressive step towards strengthening the regional and global position of both the UAE and Iraq. We see this collaboration elevating the transportation and logistics sectors to unparalleled levels of competitiveness and appeal throug...
Taylor Sterling a leading executive search and permanent placement firm and Beyond Consulting a network of seasoned professionals within the Middle East s built environment have announced a strategic alliance forming Taylor Sterling Beyond to provide clients with a comprehensive tailored suite of leadership talent and capability solutions. Launched with the tagline Empowering Clients with Enhanced Leadership Talent and Capability Solutions in the Built Environment the new offering combines Taylor Sterling s expertise in executive search and recruitment with Beyond Consulting s deep industry knowledge and flexible project and company-based services. The new venture brings together Taylor Sterling and Beyond Consulting s founders Marcus Taylor - a keynote speaker and ambassador for Women in Construction - and Chris Cooper and construction recruitment specialist...
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Taylor Sterling a leading executive search and permanent placement firm and Beyond Consulting a network of seasoned professionals within the Middle East s built environment have announced a strategic alliance forming Taylor Sterling Beyond to provide clients with a comprehensive tailored suite of leadership talent and capability solutions. Launched with the tagline Empowering Clients with Enhanced Leadership Talent and Capability Solutions in the Built Environment the new offering combines Taylor Sterling s expertise in executive search and recruitment with Beyond Consulting s deep industry knowledge and flexible project and company-based services. The new venture brings together Taylor Sterling and Beyond Consulting s founders Marcus Taylor - a keynote speaker and ambassador for Women in Construction - and Chris Cooper and construction recruitment specialist...
Dell Technologies on Monday announced plans to open a new merge and logistics fulfilment centre which includes a second touch manufacturing facility in the Kingdom of Saudi Arabia (KSA). This strategic investment commemorates Dell s position in securing a regional headquarters licence to operate in KSA and reinforces the company s commitment to Saudi Vision 2030 in driving economic diversification through technological advancement the company said. The new centre based out of Riyadh will handle all Dell product lines in KSA including notebooks desktops servers storage and networking. This in turn will help manage the growing demand for Dell s end-to-end consumer and enterprise solutions create additional services and offerings reduce lead times and enhance customer satisfaction. Additionally Dell is moving its Flat Panel Monitor Hub to Riyadh with inventory stocked a...
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Dell Technologies on Monday announced plans to open a new merge and logistics fulfilment centre which includes a second touch manufacturing facility in the Kingdom of Saudi Arabia (KSA). This strategic investment commemorates Dell s position in securing a regional headquarters licence to operate in KSA and reinforces the company s commitment to Saudi Vision 2030 in driving economic diversification through technological advancement the company said. The new centre based out of Riyadh will handle all Dell product lines in KSA including notebooks desktops servers storage and networking. This in turn will help manage the growing demand for Dell s end-to-end consumer and enterprise solutions create additional services and offerings reduce lead times and enhance customer satisfaction. Additionally Dell is moving its Flat Panel Monitor Hub to Riyadh with inventory stocked a...
Ethiopian Airlines Group the largest airline group in Africa has launched its state-of-the-art e-commerce logistics facility in Addis Ababa. Located inside the Ethiopian Cargo & Logistics premises the newly built facility is dedicated to e-commerce mail and courier logistics services aimed at bridging logistical gaps and positioning Addis Ababa as the cross-border e-commerce logistics hub for Africa and beyond. Ethiopian Airlines Group CEO Mesfin Tasew said: The inauguration of this cutting-edge e-commerce logistics facility is a significant breakthrough for Ethiopian Airlines Group and the entire African economy. We have implemented high-end technologies in the infrastructure that revolutionize the way goods are transported and delivered in the e-commerce industry in Africa. Through this facility Ethiopian Airlines paves the way for development of e-commerce services in Ethiopia and the African continent. Built on...
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Ethiopian Airlines Group the largest airline group in Africa has launched its state-of-the-art e-commerce logistics facility in Addis Ababa. Located inside the Ethiopian Cargo & Logistics premises the newly built facility is dedicated to e-commerce mail and courier logistics services aimed at bridging logistical gaps and positioning Addis Ababa as the cross-border e-commerce logistics hub for Africa and beyond. Ethiopian Airlines Group CEO Mesfin Tasew said: The inauguration of this cutting-edge e-commerce logistics facility is a significant breakthrough for Ethiopian Airlines Group and the entire African economy. We have implemented high-end technologies in the infrastructure that revolutionize the way goods are transported and delivered in the e-commerce industry in Africa. Through this facility Ethiopian Airlines paves the way for development of e-commerce services in Ethiopia and the African continent. Built on...
Azad Properties Proper Developments and Hilton have announced the official signing of a transformative real estate collaboration further contributing to the evolution of Jeddah s thriving real estate landscape. The signing ceremony held at the Retail Leaders Circle conference in Riyadh was attended by Ayman Al Burti CEO of Azad Properties; Ahmad Al Jared Partner at Proper Developments; and Amir Lababedi Managing Director Development Middle East & North Africa Hilton. Azad Properties known for its innovative urban developments has partnered with Proper Developments a forward-thinking developer specialising in visionary mixed-use projects and Hilton a global leader in hospitality to introduce a pioneering project within the vibrant Souq7 precinct in Jeddah. Innovation annd excellence Al...
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Azad Properties Proper Developments and Hilton have announced the official signing of a transformative real estate collaboration further contributing to the evolution of Jeddah s thriving real estate landscape. The signing ceremony held at the Retail Leaders Circle conference in Riyadh was attended by Ayman Al Burti CEO of Azad Properties; Ahmad Al Jared Partner at Proper Developments; and Amir Lababedi Managing Director Development Middle East & North Africa Hilton. Azad Properties known for its innovative urban developments has partnered with Proper Developments a forward-thinking developer specialising in visionary mixed-use projects and Hilton a global leader in hospitality to introduce a pioneering project within the vibrant Souq7 precinct in Jeddah. Innovation annd excellence Al...
Building on the strong growth momentum and high levels of buyer demand experienced in 2023 the UAE s real estate sector is expected to continue its upward trajectory this year as well despite a softening global outlook said a panel of experts at an event hosted by real estate industry expert JLL. Robust economic fundamentals government initiatives and increased investor confidence are driving new opportunities for sustained growth across asset classes in the UAE s rapidly evolving market especially in the short and medium term said the industry analysts at the forum held under the topic Navigating the Growth Spectrum: Exploring Strategies for Sustained Success. With the rise of private and sovereign wealth as well as increased infrastructural spending JLL also outlined promising prospects for the real estate sector in the wider GCC a region less sensitive to the global challenges of i...
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Building on the strong growth momentum and high levels of buyer demand experienced in 2023 the UAE s real estate sector is expected to continue its upward trajectory this year as well despite a softening global outlook said a panel of experts at an event hosted by real estate industry expert JLL. Robust economic fundamentals government initiatives and increased investor confidence are driving new opportunities for sustained growth across asset classes in the UAE s rapidly evolving market especially in the short and medium term said the industry analysts at the forum held under the topic Navigating the Growth Spectrum: Exploring Strategies for Sustained Success. With the rise of private and sovereign wealth as well as increased infrastructural spending JLL also outlined promising prospects for the real estate sector in the wider GCC a region less sensitive to the global challenges of i...
Zamil Steel Pre-Engineered Buildings Company a subsidiary of Saudi-based conglomerate Zamil Industrial has clinched a significant contract from Bahri Logistics Company for the construction of the Bahri Bonded Zone complex at Jeddah Islamic Port. A leading initiative Bahri Bonded Zone is aimed at establishing a world-class logistics hub within the Kingdom of Saudi Arabia. It comprises an associated office building a mezzanine floor a warehouse a mechanical roof and other utility annexes. This marks a major milestone for the company further solidifying its position as a trusted partner for large-scale and complex logistics infrastructure projects in the Kingdom of Saudi Arabia said Nawaf Mohammed Al Zamil the President of Zamil Steel Company after signing the contract with Mohammed Mikwar the Contract Logistics Senior Manager at Bahri Logistics Company. d...
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Zamil Steel Pre-Engineered Buildings Company a subsidiary of Saudi-based conglomerate Zamil Industrial has clinched a significant contract from Bahri Logistics Company for the construction of the Bahri Bonded Zone complex at Jeddah Islamic Port. A leading initiative Bahri Bonded Zone is aimed at establishing a world-class logistics hub within the Kingdom of Saudi Arabia. It comprises an associated office building a mezzanine floor a warehouse a mechanical roof and other utility annexes. This marks a major milestone for the company further solidifying its position as a trusted partner for large-scale and complex logistics infrastructure projects in the Kingdom of Saudi Arabia said Nawaf Mohammed Al Zamil the President of Zamil Steel Company after signing the contract with Mohammed Mikwar the Contract Logistics Senior Manager at Bahri Logistics Company. d...
Global asset management and disposition company Ritchie Bros. is preparing for its first scheduled auction of 2024 which promises to have a large and diverse selection of used and unused heavy equipment for sale at unreserved prices. Taking place from March 5 to 6 the auction will feature 964 items which will be sold to the highest bidder during the two-day auction. March s auction features machinery used in industries such as mining oil and gas construction and transportation. Highlights include: 2022 Dressta TD25M Crawler Dozer (Unused) (2 available) 2018 Cat 374FL Tracked Excavator (2 available) 2019 Cat 980M Wheel Loader 2018 Cat 745 Articulated Dump Truck Komatsu PC450-8N1 Tracked Excavator Hydraulic excavators of various sizes have remained a...
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Global asset management and disposition company Ritchie Bros. is preparing for its first scheduled auction of 2024 which promises to have a large and diverse selection of used and unused heavy equipment for sale at unreserved prices. Taking place from March 5 to 6 the auction will feature 964 items which will be sold to the highest bidder during the two-day auction. March s auction features machinery used in industries such as mining oil and gas construction and transportation. Highlights include: 2022 Dressta TD25M Crawler Dozer (Unused) (2 available) 2018 Cat 374FL Tracked Excavator (2 available) 2019 Cat 980M Wheel Loader 2018 Cat 745 Articulated Dump Truck Komatsu PC450-8N1 Tracked Excavator Hydraulic excavators of various sizes have remained a...
Four Winds Saudi Arabia Limited has launched solutions designed to make available international freight services within Saudi Arabia and Jordan effectively addressing the logistics challenges posed by the Red Sea crises. The new freight services provided include the establishment of new corridors as detailed below with the understanding that the expected times are contingent upon the completion of the necessary customs documents: From Jebel Ali Port in Dubai to Jeddah: 5 days. From Jebel Ali Port in Dubai to Riyadh: 3 days. From King Abdulaziz Port in Dammam to Jeddah: 3 days. From King Abdulaziz Port in Dammam to Riyadh: 2 days. From Jebel Ali Port to Jordan: 7 days. Nizar Al Mani CEO of Four Winds Saudi Arabia Limited said: As a one of the most trusted specialists in com...
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Four Winds Saudi Arabia Limited has launched solutions designed to make available international freight services within Saudi Arabia and Jordan effectively addressing the logistics challenges posed by the Red Sea crises. The new freight services provided include the establishment of new corridors as detailed below with the understanding that the expected times are contingent upon the completion of the necessary customs documents: From Jebel Ali Port in Dubai to Jeddah: 5 days. From Jebel Ali Port in Dubai to Riyadh: 3 days. From King Abdulaziz Port in Dammam to Jeddah: 3 days. From King Abdulaziz Port in Dammam to Riyadh: 2 days. From Jebel Ali Port to Jordan: 7 days. Nizar Al Mani CEO of Four Winds Saudi Arabia Limited said: As a one of the most trusted specialists in com...
The FIATA-RAME (Region Africa Middle East) Field Meeting & Conference in Dubai on March 5 and 6 will see over 1 000 industry leaders participate to chart a resilient course for the region s logistics sector. The National Association for Freight and Logistics (NAFL) and International Federation of Freight Forwarders Associations (FIATA) have revealed the key topics and programme of the event. The event will be hosted by NAFL this year under the patronage and presence of His Highness Sheikh Ahmed bin Saeed Al Maktoum- Honorary patron of NAFL. The conference will take place under the theme Connectivity Resilience and Sustainability in Global Supply Chains and Trade providing a vital platform for knowledge sharing strategic discussions and actionable solutions. Revealing the key themes of the conference which will host the official FIATA RAME Meeting on day-one FIATA representatives sa...
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The FIATA-RAME (Region Africa Middle East) Field Meeting & Conference in Dubai on March 5 and 6 will see over 1 000 industry leaders participate to chart a resilient course for the region s logistics sector. The National Association for Freight and Logistics (NAFL) and International Federation of Freight Forwarders Associations (FIATA) have revealed the key topics and programme of the event. The event will be hosted by NAFL this year under the patronage and presence of His Highness Sheikh Ahmed bin Saeed Al Maktoum- Honorary patron of NAFL. The conference will take place under the theme Connectivity Resilience and Sustainability in Global Supply Chains and Trade providing a vital platform for knowledge sharing strategic discussions and actionable solutions. Revealing the key themes of the conference which will host the official FIATA RAME Meeting on day-one FIATA representatives sa...
The Saudi real estate market is in delivery mode with massive residential and commercial projects delivered and four new Special Economic Zones (SEZs) created as the kingdom s GDP reached SR10.1 trillion ( 2.6 trillion) in 2023. The GDP is anticipated to grow to SR11.6 trillion ( 3 trillion) by 2030. This is according to the leading global professional services firm Deloitte which has released its comprehensive Saudi Arabia Real Estate Report for the year 2023 providing valuable insights into the kingdom s property market growth and future prospects. The report highlights the impact of the positive economic conditions in the kingdom so far on the performance of the real estate market. Remote work facilities The trends in residential property are shifting towards homes that accommodate remote work fac...
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The Saudi real estate market is in delivery mode with massive residential and commercial projects delivered and four new Special Economic Zones (SEZs) created as the kingdom s GDP reached SR10.1 trillion ( 2.6 trillion) in 2023. The GDP is anticipated to grow to SR11.6 trillion ( 3 trillion) by 2030. This is according to the leading global professional services firm Deloitte which has released its comprehensive Saudi Arabia Real Estate Report for the year 2023 providing valuable insights into the kingdom s property market growth and future prospects. The report highlights the impact of the positive economic conditions in the kingdom so far on the performance of the real estate market. Remote work facilities The trends in residential property are shifting towards homes that accommodate remote work fac...
Construction costs are set to increase across the Middle East region this year amid fresh challenges for the construction industry in the form of inflation according to a report published by Currie & Brown world-leading provider of cost management project management and advisory services. The building costs in the UAE will surge by 2-3% and Saudi Arabia by 5-7% in 2024 following an increase of 3% and 7% respectively last year. Increases will challenge construction firms which will need to develop new processes and capabilities to keep costs under control and projects on track. The findings are shared in Currie & Brown s report How to navigate 2024: Balancing challenge with opportunity. To help organisations navigate uncertainty and be more cost effective the report advises project teams to act in the following ar...
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Construction costs are set to increase across the Middle East region this year amid fresh challenges for the construction industry in the form of inflation according to a report published by Currie & Brown world-leading provider of cost management project management and advisory services. The building costs in the UAE will surge by 2-3% and Saudi Arabia by 5-7% in 2024 following an increase of 3% and 7% respectively last year. Increases will challenge construction firms which will need to develop new processes and capabilities to keep costs under control and projects on track. The findings are shared in Currie & Brown s report How to navigate 2024: Balancing challenge with opportunity. To help organisations navigate uncertainty and be more cost effective the report advises project teams to act in the following ar...
Arcapita Group Holdings Limited the global alternative asset manager based in Bahrd has announced a strategic collaboration with Rikaz a prominent large-scale real estate developer in Saudi Arabia for the development of a top-class logistics park - The Node - in capital Riyadh which is designed to meet the specifications of prominent international and regional tenants. Unveiling the project today (February 20) Arcapita said The Node is a 3-million-sq-m development that is poised to become Riyadh s premier logistics hub. The first phase of the project will cover an area of approximately 400 000 sq m that will house grade A warehousing facilities developed as per global standards by Arcapita and Rikaz for a variety of commercial tenants. Strategically located in eastern Riyadh the project will have easy access to King Khalid Inter...
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Arcapita Group Holdings Limited the global alternative asset manager based in Bahrd has announced a strategic collaboration with Rikaz a prominent large-scale real estate developer in Saudi Arabia for the development of a top-class logistics park - The Node - in capital Riyadh which is designed to meet the specifications of prominent international and regional tenants. Unveiling the project today (February 20) Arcapita said The Node is a 3-million-sq-m development that is poised to become Riyadh s premier logistics hub. The first phase of the project will cover an area of approximately 400 000 sq m that will house grade A warehousing facilities developed as per global standards by Arcapita and Rikaz for a variety of commercial tenants. Strategically located in eastern Riyadh the project will have easy access to King Khalid Inter...
National Shipping Company of Saudi Arabia (Bahri) has laid the cornerstone for a new logistics centre at Jeddah Islamic Port. This state-of-the-art facility which will cover a total area of 95 436 sq m will be managed by Bahri Logistics. It will offer multiple storage options in temperature-controlled areas handling services and other value-added services with the aim of enhancing logistics capabilities and supply chain in the Kingdom of Saudi Arabia enabling multinational companies to establish their logistics hubs in the Center. The cornerstone was laid today (February 18) in the presence of Engineer Saleh bin Nasser Al Jasser Minister of Transport and Logistics Services and Chairman of the Saudi Ports Authority The ceremony was also attended by Omar Hariri President of the Saudi Ports Authority (Mawani) and Engineer Ahmed Ali Al Subaey the CEO of Bahr...
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National Shipping Company of Saudi Arabia (Bahri) has laid the cornerstone for a new logistics centre at Jeddah Islamic Port. This state-of-the-art facility which will cover a total area of 95 436 sq m will be managed by Bahri Logistics. It will offer multiple storage options in temperature-controlled areas handling services and other value-added services with the aim of enhancing logistics capabilities and supply chain in the Kingdom of Saudi Arabia enabling multinational companies to establish their logistics hubs in the Center. The cornerstone was laid today (February 18) in the presence of Engineer Saleh bin Nasser Al Jasser Minister of Transport and Logistics Services and Chairman of the Saudi Ports Authority The ceremony was also attended by Omar Hariri President of the Saudi Ports Authority (Mawani) and Engineer Ahmed Ali Al Subaey the CEO of Bahr...
Christie s International Real Estate Dubai one of the UAE s leading luxury real estate firms and the sole Middle Eastern affiliate of Christie s International Real Estate recently hosted a bespoke luncheon to support women entering the world of investments and real estate and honour some of the region s most successful female leaders. Welcoming the city s leading female figures to the invite-only The Women Investment Empowerment Luncheon at Josette in Dubai the luxury real estate firm said the event was aimed at not only celebrating those women who had overcome significant challenges to emerge as luminaries in their fields but also strive to foster lasting relationships as part of a wider supportive female community. Amidst the elegant surroundings of the Michelin-starred Parisian restaurant around 50 of Dubai s most inspiring women attended the event co-hosted ...
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Christie s International Real Estate Dubai one of the UAE s leading luxury real estate firms and the sole Middle Eastern affiliate of Christie s International Real Estate recently hosted a bespoke luncheon to support women entering the world of investments and real estate and honour some of the region s most successful female leaders. Welcoming the city s leading female figures to the invite-only The Women Investment Empowerment Luncheon at Josette in Dubai the luxury real estate firm said the event was aimed at not only celebrating those women who had overcome significant challenges to emerge as luminaries in their fields but also strive to foster lasting relationships as part of a wider supportive female community. Amidst the elegant surroundings of the Michelin-starred Parisian restaurant around 50 of Dubai s most inspiring women attended the event co-hosted ...
Al Mal Capital REIT the first real estate investment trust listed on DFM has announced plans for a significant rights issue that will be launched on March 4. AMCREIT is managed by Al Mal Capital a subsidiary of Dubai Investments and has an existing portfolio size of AED580 million invested in a diversified portfolio of income-generating educational assets in the UAE. The fund has an investment strategy focused on strong-performing sectors such as healthcare education and industrials. This is based on secure long-term lease agreements with strong credit profile operators offering UAE and GCC investors access to an asset class with strong value creation fundamentals generating a target return of 7%. The IPO comes following the go-ahead from the UAE s Securities and Commodities Authority (SCA) said the Dubai In...
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Al Mal Capital REIT the first real estate investment trust listed on DFM has announced plans for a significant rights issue that will be launched on March 4. AMCREIT is managed by Al Mal Capital a subsidiary of Dubai Investments and has an existing portfolio size of AED580 million invested in a diversified portfolio of income-generating educational assets in the UAE. The fund has an investment strategy focused on strong-performing sectors such as healthcare education and industrials. This is based on secure long-term lease agreements with strong credit profile operators offering UAE and GCC investors access to an asset class with strong value creation fundamentals generating a target return of 7%. The IPO comes following the go-ahead from the UAE s Securities and Commodities Authority (SCA) said the Dubai In...
Red Sea Global (RSG) the multi-project developer behind the world s most ambitious regenerative tourism destinations The Red Sea and Amaala has awarded a contract to Naqel Express By SPL to provide labour and logistics services. Under this deal Naqel Express a fully-owned subsidiary of Saudi Post Logistics will operate all long-haul and local transportation services for The Red Sea. Additionally Naqel Express will provide labour logistics equipment and supply chain technologies. Today as our first hotels receive guests our focus is on the front-facing visitor experience. We also recognize the significance of having efficient and effective back-of-house systems said the Group CEO at Red Sea Global John Pagano. By joining forces with Naqel Express an industry leader renowned for its unwavering commitment to sustainability and quality we are confid...
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Red Sea Global (RSG) the multi-project developer behind the world s most ambitious regenerative tourism destinations The Red Sea and Amaala has awarded a contract to Naqel Express By SPL to provide labour and logistics services. Under this deal Naqel Express a fully-owned subsidiary of Saudi Post Logistics will operate all long-haul and local transportation services for The Red Sea. Additionally Naqel Express will provide labour logistics equipment and supply chain technologies. Today as our first hotels receive guests our focus is on the front-facing visitor experience. We also recognize the significance of having efficient and effective back-of-house systems said the Group CEO at Red Sea Global John Pagano. By joining forces with Naqel Express an industry leader renowned for its unwavering commitment to sustainability and quality we are confid...
Bahri Logistics has signed a Memorandum of Understanding (MoU) with GDC Middle East to collaborate in the field of freight forwarding services by leveraging the two companies expertise capabilities and resources. Bahri Logistics is a business unit of Bahri the national shipping company of Saudi Arabia and GDC Middle East is a Saudi Public Investment Fund (PIF) company specialising in aerospace engineering system solutions and operation and support. Eng Soror Basalom President of Bahri Integrated Logistics and Eng Muneer Bakhsh CEO of GDC Middle East signed the MoU on the sidelines of the World Defense Show 2024 being held in Riyadh from February 4 to 8. Crucial step Basalom said: Our partnership with GDC Middle East is a crucial step towards enhancing our capabilities and providing top-not...
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Bahri Logistics has signed a Memorandum of Understanding (MoU) with GDC Middle East to collaborate in the field of freight forwarding services by leveraging the two companies expertise capabilities and resources. Bahri Logistics is a business unit of Bahri the national shipping company of Saudi Arabia and GDC Middle East is a Saudi Public Investment Fund (PIF) company specialising in aerospace engineering system solutions and operation and support. Eng Soror Basalom President of Bahri Integrated Logistics and Eng Muneer Bakhsh CEO of GDC Middle East signed the MoU on the sidelines of the World Defense Show 2024 being held in Riyadh from February 4 to 8. Crucial step Basalom said: Our partnership with GDC Middle East is a crucial step towards enhancing our capabilities and providing top-not...
Qatar is expected to begin construction work on the new Lusail Museum later this year according to a CNN Travel report. Lusail Museum designed by the Pritzker Prize winning Swiss architectural firm Herzog & de Meuron will be located on the Al Maha Island in Lusail just north of Doha. Lusail was the home of Sheikh Jassim bin Mohamed bin Thani the Founder of Qatar and his story will be woven throughout the museum. The museum will be 30 m (98 feet) tall spread over five levels. The building will have a footprint of 11 000 sq m on a site that s more than 10 times that size and will include areas for art exhibitions and a think tank space for discussions on global issues the report said. T...
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Qatar is expected to begin construction work on the new Lusail Museum later this year according to a CNN Travel report. Lusail Museum designed by the Pritzker Prize winning Swiss architectural firm Herzog & de Meuron will be located on the Al Maha Island in Lusail just north of Doha. Lusail was the home of Sheikh Jassim bin Mohamed bin Thani the Founder of Qatar and his story will be woven throughout the museum. The museum will be 30 m (98 feet) tall spread over five levels. The building will have a footprint of 11 000 sq m on a site that s more than 10 times that size and will include areas for art exhibitions and a think tank space for discussions on global issues the report said. T...
The UAE Saudi Arabia and Qatar continue to rank among the world s top 10 emerging markets improving or holding steady in key areas while neighbouring Oman Bahrain and Kuwait lose ground in the 15th annual Agility Emerging Markets Logistics Index. The Index has been compiled by Transport Intelligence (Ti) a leading analysis and research firm for the logistics industry which has been involved in it since its launch in 2009. UAE No. 3 in the 50-country Index after China and India held its rank from 2023 as did No. 6 Saudi Arabia and No. 7 Qatar. Oman (15) Bahrain (16) and Kuwait (21) all fell in the rankings. In Agility s survey of 830 logistics industry executives respondents say Saudi Arabia and UAE are doing the most among GCC countries to accelerate economic diversification and lessen reliance on income from oil and gas. ...
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The UAE Saudi Arabia and Qatar continue to rank among the world s top 10 emerging markets improving or holding steady in key areas while neighbouring Oman Bahrain and Kuwait lose ground in the 15th annual Agility Emerging Markets Logistics Index. The Index has been compiled by Transport Intelligence (Ti) a leading analysis and research firm for the logistics industry which has been involved in it since its launch in 2009. UAE No. 3 in the 50-country Index after China and India held its rank from 2023 as did No. 6 Saudi Arabia and No. 7 Qatar. Oman (15) Bahrain (16) and Kuwait (21) all fell in the rankings. In Agility s survey of 830 logistics industry executives respondents say Saudi Arabia and UAE are doing the most among GCC countries to accelerate economic diversification and lessen reliance on income from oil and gas. ...
AD Ports Group has announced that Noatum which leads its Logistics Cluster operations successfully closed the acquisition of 100% equity ownership of Sesé Auto Logistics for an enterprise value of EUR81 million ( 88.14 million). The acquisition which was approved by all relevant European regulators and closed today solidifies Noatum s commitment to providing comprehensive solutions across the entire logistics value chain in the automotive industry. The acquisition of the Finished Vehicles Logistics (FVL) business of Grupo Logístico Sesé implies a trailing EV/EBITDA of 3.8x based on the company s Last Twelve Months (LTM) performance to December 2023 - revenue of around EUR106 million with EBITDA margin of 21%. Automotive logistics market normalisation Going forward No...
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AD Ports Group has announced that Noatum which leads its Logistics Cluster operations successfully closed the acquisition of 100% equity ownership of Sesé Auto Logistics for an enterprise value of EUR81 million ( 88.14 million). The acquisition which was approved by all relevant European regulators and closed today solidifies Noatum s commitment to providing comprehensive solutions across the entire logistics value chain in the automotive industry. The acquisition of the Finished Vehicles Logistics (FVL) business of Grupo Logístico Sesé implies a trailing EV/EBITDA of 3.8x based on the company s Last Twelve Months (LTM) performance to December 2023 - revenue of around EUR106 million with EBITDA margin of 21%. Automotive logistics market normalisation Going forward No...
AD Ports Group has announced that Noatum which leads the Group s Logistics Cluster has launched Noatum Logistics Middle East the company s new brand that boosts its commitment to delivering market-leading logistics services. The new brand takes over from MICCO Logistics which has served the Abu Dhabi and the GCC markets with distinction for over four decades and which has been the freight forwarding arm of AD Ports Group s Logistics Cluster since the company s acquisition in 2020. With strong ties to the natural resources sector where it supported more than 80% of Abu Dhabi s total oil gas and petrochemical projects MICCO has served multiple industry sectors backed by an advanced fleet of over 400 vehicles. Service excellence With MICCO s consolidation into Noatum L...
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AD Ports Group has announced that Noatum which leads the Group s Logistics Cluster has launched Noatum Logistics Middle East the company s new brand that boosts its commitment to delivering market-leading logistics services. The new brand takes over from MICCO Logistics which has served the Abu Dhabi and the GCC markets with distinction for over four decades and which has been the freight forwarding arm of AD Ports Group s Logistics Cluster since the company s acquisition in 2020. With strong ties to the natural resources sector where it supported more than 80% of Abu Dhabi s total oil gas and petrochemical projects MICCO has served multiple industry sectors backed by an advanced fleet of over 400 vehicles. Service excellence With MICCO s consolidation into Noatum L...
Global luxury automotive major Mercedes-Benz has joined forces with Dubai-based Binghatti Properties to unveil its branded real-estate venture - Mercedes-Benz Places - that will shape desirable living spaces and create communities for people seeking extraordinary brand moments. Unveiling the new venture Mercedes-Benz said this comes as part of its strategy to boost its position as the world s most desirable automotive brand. And the first product of this new partnership - Mercedes-Benz Places|Binghatti - is all set for launch. The 65-storey residential tower - Mercedes-Benz Places|Binghatti - will deliver a holistic connected and desirable luxury living experience offering its residents the best of both worlds of automotive and architecture. Mercedes-Benz said the project is gearing up for its groundbreaking in Dubai this year when it will transfer the brand&rs...
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Global luxury automotive major Mercedes-Benz has joined forces with Dubai-based Binghatti Properties to unveil its branded real-estate venture - Mercedes-Benz Places - that will shape desirable living spaces and create communities for people seeking extraordinary brand moments. Unveiling the new venture Mercedes-Benz said this comes as part of its strategy to boost its position as the world s most desirable automotive brand. And the first product of this new partnership - Mercedes-Benz Places|Binghatti - is all set for launch. The 65-storey residential tower - Mercedes-Benz Places|Binghatti - will deliver a holistic connected and desirable luxury living experience offering its residents the best of both worlds of automotive and architecture. Mercedes-Benz said the project is gearing up for its groundbreaking in Dubai this year when it will transfer the brand&rs...
As the UAE continued to demonstrate resilience in the face of challenging global economic conditions the real estate sector witnessed robust growth across all the major asset classes in 2023 particularly the office and residential sectors according to leading property expert JLL. Benefitting from strong demand and continued developer activity the UAE s residential sector witnessed remarkable growth in transactions in both primary and secondary markets in 2023 stated JLL in its A Year in Review report. In Dubai both average sales prices and rental rates saw significant increases of 19% in November 2023 compared to the same period in the previous year. Notably Dubai s average villa sale prices continued their upward trajectory driven by heightened demand and reached a new all-time high by November surpassing the previous peak of 2014 by 15%. Accord...
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As the UAE continued to demonstrate resilience in the face of challenging global economic conditions the real estate sector witnessed robust growth across all the major asset classes in 2023 particularly the office and residential sectors according to leading property expert JLL. Benefitting from strong demand and continued developer activity the UAE s residential sector witnessed remarkable growth in transactions in both primary and secondary markets in 2023 stated JLL in its A Year in Review report. In Dubai both average sales prices and rental rates saw significant increases of 19% in November 2023 compared to the same period in the previous year. Notably Dubai s average villa sale prices continued their upward trajectory driven by heightened demand and reached a new all-time high by November surpassing the previous peak of 2014 by 15%. Accord...
DP World has signed multiple Memorandums of Understanding (MoUs) worth Rs250 billion ( 3 billion) with India s Gujarat state for developing new ports terminals and economic zones in the state. In the presence of His Highness Sheikh Mohamed bin Zayed Al Nahyan President of UAE and Narendra Modi Prime Minister of India DP World Group Chairman and CEO Sultan Ahmed bin Sulayem exchanged MoUs relating to potential investments in Gujarat with M K Das Additional Chief Secretary Government of Gujarat during the Vibrant Gujarat Global Summit 2024 being held in Gandhinagar. The MoUs highlight Gujarat s prowess as a role model of development and the growth engine of the nation while leveraging its logistics and maritime infrastructure. Facilitating trade The MoUs underscore DP World&rsq...
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DP World has signed multiple Memorandums of Understanding (MoUs) worth Rs250 billion ( 3 billion) with India s Gujarat state for developing new ports terminals and economic zones in the state. In the presence of His Highness Sheikh Mohamed bin Zayed Al Nahyan President of UAE and Narendra Modi Prime Minister of India DP World Group Chairman and CEO Sultan Ahmed bin Sulayem exchanged MoUs relating to potential investments in Gujarat with M K Das Additional Chief Secretary Government of Gujarat during the Vibrant Gujarat Global Summit 2024 being held in Gandhinagar. The MoUs highlight Gujarat s prowess as a role model of development and the growth engine of the nation while leveraging its logistics and maritime infrastructure. Facilitating trade The MoUs underscore DP World&rsq...
Aldar Properties a leading real estate developer investor and asset manager in the UAE will invest a further AED1 billion ( 272.27 million) to expand its logistics real estate business in Dubai and Abu Dhabi. Having first entered the logistics sector with the majority acquisition of Abu Dhabi Business Hub (ADBH) in 2022 this new investment includes the acquisition of operational assets as well as the development of ready-to-lease and build-to-suit options in response to strong demand for Grade A logistics facilities the company said. Marking its first logistics acquisition in Dubai Aldar has bought 7 Central logistics hub and an adjacent plot which once developed will almost double the current gross leasable area (GLA) of 19 000 sq m. The facility which was sold by Seven Seas Steel Industries is strategically located in Dubai Investments Park one of Dubai s most established industrial areas. ...
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Aldar Properties a leading real estate developer investor and asset manager in the UAE will invest a further AED1 billion ( 272.27 million) to expand its logistics real estate business in Dubai and Abu Dhabi. Having first entered the logistics sector with the majority acquisition of Abu Dhabi Business Hub (ADBH) in 2022 this new investment includes the acquisition of operational assets as well as the development of ready-to-lease and build-to-suit options in response to strong demand for Grade A logistics facilities the company said. Marking its first logistics acquisition in Dubai Aldar has bought 7 Central logistics hub and an adjacent plot which once developed will almost double the current gross leasable area (GLA) of 19 000 sq m. The facility which was sold by Seven Seas Steel Industries is strategically located in Dubai Investments Park one of Dubai s most established industrial areas. ...
Saudi Ports Authority Mawani has boosted Saudi Arabia s logistics and maritime sectors in 2023 investing SR13 billion ( 3.47 billion) setting up 8 logistics parks and introducing 28 new maritime services. In order to enhance the attractiveness of Saudi investment ports Mawani signed agreements in 2023 to establish five new logistics parks and centres with investments exceeding SR4 billion. These agreements included the development of logistics parks at King Abdulaziz Port in Dammam an integrated logistics park at Jeddah Islamic Port and a comprehensive bunker station at King Fahad Industrial Port in Yanbu. Additionally Mawani laid the foundation stone for Maersk s largest integrated logistics park in the Middle East at Jeddah Islamic Port along with a logistics park at the same port in partnership with CMA CGM. Mawani also opened a new logistics park at Jeddah Islamic Port in collaboration with Lo...
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Saudi Ports Authority Mawani has boosted Saudi Arabia s logistics and maritime sectors in 2023 investing SR13 billion ( 3.47 billion) setting up 8 logistics parks and introducing 28 new maritime services. In order to enhance the attractiveness of Saudi investment ports Mawani signed agreements in 2023 to establish five new logistics parks and centres with investments exceeding SR4 billion. These agreements included the development of logistics parks at King Abdulaziz Port in Dammam an integrated logistics park at Jeddah Islamic Port and a comprehensive bunker station at King Fahad Industrial Port in Yanbu. Additionally Mawani laid the foundation stone for Maersk s largest integrated logistics park in the Middle East at Jeddah Islamic Port along with a logistics park at the same port in partnership with CMA CGM. Mawani also opened a new logistics park at Jeddah Islamic Port in collaboration with Lo...
Saudi Ports Authority (Mawani) strengthened the maritime and logistics sectors contributing to the kingdom s exceptional leaps in international indicators and solidifying its position as a global logistics center. In the logistics efficiency index by the World Bank the Kingdom climbed 17 ranks to reach the 38th position out of 160 countries said a statement from Mawani. The achievements included the establishment of 8 logistics parks the introduction of 28 new maritime services and the receipt of 7 regional and global awards it stated. According to Mawani these advancements align with the targets of the National Transport and Logistics Strategy (NTLS). The kingdom witnessed progress in various international rankings including container handling and logistics efficiency. It jumped 8 ranks in container handling reaching the 16th pos...
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Saudi Ports Authority (Mawani) strengthened the maritime and logistics sectors contributing to the kingdom s exceptional leaps in international indicators and solidifying its position as a global logistics center. In the logistics efficiency index by the World Bank the Kingdom climbed 17 ranks to reach the 38th position out of 160 countries said a statement from Mawani. The achievements included the establishment of 8 logistics parks the introduction of 28 new maritime services and the receipt of 7 regional and global awards it stated. According to Mawani these advancements align with the targets of the National Transport and Logistics Strategy (NTLS). The kingdom witnessed progress in various international rankings including container handling and logistics efficiency. It jumped 8 ranks in container handling reaching the 16th pos...
Saudi Ports Authority (Mawani) and Medlog the logistics arm of the Mediterranean Shipping Company have laid the foundation stone of a SR150 million ( 40 million) Integrated Logistics Park at Dammam s King Abdulaziz Port. The new park will have an area of 100 000 sq m with capacity of 300 000 TEUs annually. It aims to facilitate the growth of shipping connectivity and global logistics services and to raise the quality and efficiency of the services delivered to local and international customers across the kingdom a Saudi Press Agency (SPA) report said. The new logistics park will contribute to enhancing the competitive advantage of Dammam s King Abdulaziz Port and Medlog by providing quality logistics services that increase the private sector s contribution to supporting the wheel of economic development and increasing economic diversification. The foundatio...
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Saudi Ports Authority (Mawani) and Medlog the logistics arm of the Mediterranean Shipping Company have laid the foundation stone of a SR150 million ( 40 million) Integrated Logistics Park at Dammam s King Abdulaziz Port. The new park will have an area of 100 000 sq m with capacity of 300 000 TEUs annually. It aims to facilitate the growth of shipping connectivity and global logistics services and to raise the quality and efficiency of the services delivered to local and international customers across the kingdom a Saudi Press Agency (SPA) report said. The new logistics park will contribute to enhancing the competitive advantage of Dammam s King Abdulaziz Port and Medlog by providing quality logistics services that increase the private sector s contribution to supporting the wheel of economic development and increasing economic diversification. The foundatio...
Bahrain s Real Estate Regulatory Authority (Rera) has underlined the kingdom s keenness to provide supportive facilities and incentives to consolidate the confidence of investors and traders in the real estate sector in the promising prospects of the knowledge-based and competitive Bahraini economy. Efforts to introduce initiatives that provide the best opportunities for investment in the real estate sector will continue to consolidate Bahrain s diversified business-friendly and transparent investment climate which will inturn strengthen the kingdom s position as a sustainable destination for investment stated Rera CEO Shaikh Mohammed bin Khalifa Al Khalifa. Shaikh Mohammed was speaking at the launch of the national real estate data bank platform (Aqari Data Bank) today at a key event held under the patronage of His Royal Highness Prince Salman bin Hamad Al Khalifa the Crown Prince and Prime...
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Bahrain s Real Estate Regulatory Authority (Rera) has underlined the kingdom s keenness to provide supportive facilities and incentives to consolidate the confidence of investors and traders in the real estate sector in the promising prospects of the knowledge-based and competitive Bahraini economy. Efforts to introduce initiatives that provide the best opportunities for investment in the real estate sector will continue to consolidate Bahrain s diversified business-friendly and transparent investment climate which will inturn strengthen the kingdom s position as a sustainable destination for investment stated Rera CEO Shaikh Mohammed bin Khalifa Al Khalifa. Shaikh Mohammed was speaking at the launch of the national real estate data bank platform (Aqari Data Bank) today at a key event held under the patronage of His Royal Highness Prince Salman bin Hamad Al Khalifa the Crown Prince and Prime...
DP World s Jebel Ali Free Zone (Jafza) has signed an agreement with Transworld a global shipping and logistics solutions group for the construction of a 50 000 sq m dry and temperature-controlled distribution centre within the key development in Dubai. The hitech facility which will be developed by Jafza represents a significant expansion for Transworld that will nearly double its capacity in the region while expanding the logistics infrastructure in the Free Zone. Work on the warehouse is scheduled to begin early next year and is expected to be completed by 2025 with the expansion coming on the heels of Transworld Group opening its new Cold Chain Distribution Centre in Jafza earlier this year. The agreement was officially signed in the presence of Abdullah Bin Damithan CEO and Managing Director of DP World GCC; Abdulla Al Hashmi Chief Operating Officer Parks & Zo...
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DP World s Jebel Ali Free Zone (Jafza) has signed an agreement with Transworld a global shipping and logistics solutions group for the construction of a 50 000 sq m dry and temperature-controlled distribution centre within the key development in Dubai. The hitech facility which will be developed by Jafza represents a significant expansion for Transworld that will nearly double its capacity in the region while expanding the logistics infrastructure in the Free Zone. Work on the warehouse is scheduled to begin early next year and is expected to be completed by 2025 with the expansion coming on the heels of Transworld Group opening its new Cold Chain Distribution Centre in Jafza earlier this year. The agreement was officially signed in the presence of Abdullah Bin Damithan CEO and Managing Director of DP World GCC; Abdulla Al Hashmi Chief Operating Officer Parks & Zo...
The construction industry is poised for a transformative shift with the integration of Generative AI a groundbreaking technology that is expected to revolutionise everyday applications. This super-smart assistant available 24/7 will not only automate routine tasks but also act as a catalyst for growth by giving project management an early heads-up of problems caught by the massive amount of data from the construction site said WakeCap a leader in the construction technology space which outlines the key tech trends that will shape the future of construction in 2024. However it s critical to remember that this technology is not a substitute for human creativity; rather it works in conjunction with it. As such an integrated strategy that embraces both technological innovation and human creativity will be pivotal to businesses even those outside the construction industry. ...
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The construction industry is poised for a transformative shift with the integration of Generative AI a groundbreaking technology that is expected to revolutionise everyday applications. This super-smart assistant available 24/7 will not only automate routine tasks but also act as a catalyst for growth by giving project management an early heads-up of problems caught by the massive amount of data from the construction site said WakeCap a leader in the construction technology space which outlines the key tech trends that will shape the future of construction in 2024. However it s critical to remember that this technology is not a substitute for human creativity; rather it works in conjunction with it. As such an integrated strategy that embraces both technological innovation and human creativity will be pivotal to businesses even those outside the construction industry. ...
A leading provider of marine solutions P&O Maritime Logistics a DP World Company has received ISO 50001 accreditation from ABS QE becoming one of the first companies in the maritime industry to attain this certification. ISO 50001 is an internationally recognised standard that provides a framework for organisations to establish implement maintain and improve an energy management system. This standard is designed to help organisations follow a systematic approach in achieving continual improvement of energy performance including energy efficiency use and consumption. The accreditation achieved by P&O Maritime Logistics marks a significant step in its commitment to sustainability signalling a major advancement in energy efficiency and consumption reduction within the maritime industry. This achievement not only demonstrates the company s dedication to implementing best practices in energy...
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A leading provider of marine solutions P&O Maritime Logistics a DP World Company has received ISO 50001 accreditation from ABS QE becoming one of the first companies in the maritime industry to attain this certification. ISO 50001 is an internationally recognised standard that provides a framework for organisations to establish implement maintain and improve an energy management system. This standard is designed to help organisations follow a systematic approach in achieving continual improvement of energy performance including energy efficiency use and consumption. The accreditation achieved by P&O Maritime Logistics marks a significant step in its commitment to sustainability signalling a major advancement in energy efficiency and consumption reduction within the maritime industry. This achievement not only demonstrates the company s dedication to implementing best practices in energy...
Dar Global the luxury international real estate developer has announced a significant milestone as it simultaneously begins construction on three of its much-anticipated projects this month. Of these two are in the region (AIDA in Oman and Les Vagues in Qatar) and one in Spain - Tierra Viva. Announcing this Dar Global said the commencement of construction activity on the three standout developments reflects its unwavering commitment to delivering high-caliber projects on time to maximise long-term value for investors. The landmark addresses redefine luxury living experiences and further solidifies the brand s regional and global presence following its successful listing on the London Stock Exchange earlier this year said the company in a statement. On AIDA project Dar Global said it is being developed as a joint venture with ...
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Dar Global the luxury international real estate developer has announced a significant milestone as it simultaneously begins construction on three of its much-anticipated projects this month. Of these two are in the region (AIDA in Oman and Les Vagues in Qatar) and one in Spain - Tierra Viva. Announcing this Dar Global said the commencement of construction activity on the three standout developments reflects its unwavering commitment to delivering high-caliber projects on time to maximise long-term value for investors. The landmark addresses redefine luxury living experiences and further solidifies the brand s regional and global presence following its successful listing on the London Stock Exchange earlier this year said the company in a statement. On AIDA project Dar Global said it is being developed as a joint venture with ...
Dubai has emerged as a true live work play city that is now on par with major global hub cities said Global property consultancy Knight Frank in its new report: Rise of the Super Wealth Hub Series: Dubai edition. Knight Frank s comprehensive method of assessing the habitability and attractiveness of Dubai investigates six core areas including Urban Prosperity Governance & Talent Legal Framework Enterprise Excellence Lifestyle and Opulence. These indicators have been used to build a proprietary model that evaluates cities based on the live work and play paradigm with each individual component rated on scale of 0 to 1. Dubai has achieved significant scores in two key domains: Work and Live. In the realm of Work Dubai stands out for its business-friendly environment ease of doing business (0.92) ease of capital flow (0.85) and financial market competi...
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Dubai has emerged as a true live work play city that is now on par with major global hub cities said Global property consultancy Knight Frank in its new report: Rise of the Super Wealth Hub Series: Dubai edition. Knight Frank s comprehensive method of assessing the habitability and attractiveness of Dubai investigates six core areas including Urban Prosperity Governance & Talent Legal Framework Enterprise Excellence Lifestyle and Opulence. These indicators have been used to build a proprietary model that evaluates cities based on the live work and play paradigm with each individual component rated on scale of 0 to 1. Dubai has achieved significant scores in two key domains: Work and Live. In the realm of Work Dubai stands out for its business-friendly environment ease of doing business (0.92) ease of capital flow (0.85) and financial market competi...
Zepth an innovative global tech startup and leader in construction management SaaS software has announced the integration of Artificial Intelligence (AI) into its platform marking a transformative leap in the industry. The integration will see Zepth deploy 40 AI agents to reach an artificial general intelligence (AGI) status where its machine will have human-level intelligence a first-of-its-kind endeavour in the Middle East and worldwide. Under the leadership of Founder Prasoon Shrivastava Zepth is redefining the construction landscape. Zepth stands at the forefront of the AI revolution redefining the common-data environment with AGI-driven human-level intelligence. Our platform epitomises intelligence simplicity and efficiency designed for the modern world. Zepth s AI-driven solutions are delivering extraordinary efficiency and precision to clients globally. The traditional ...
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Zepth an innovative global tech startup and leader in construction management SaaS software has announced the integration of Artificial Intelligence (AI) into its platform marking a transformative leap in the industry. The integration will see Zepth deploy 40 AI agents to reach an artificial general intelligence (AGI) status where its machine will have human-level intelligence a first-of-its-kind endeavour in the Middle East and worldwide. Under the leadership of Founder Prasoon Shrivastava Zepth is redefining the construction landscape. Zepth stands at the forefront of the AI revolution redefining the common-data environment with AGI-driven human-level intelligence. Our platform epitomises intelligence simplicity and efficiency designed for the modern world. Zepth s AI-driven solutions are delivering extraordinary efficiency and precision to clients globally. The traditional ...
Construction 5.0 is the need of the hour agreed the thought leaders and innovators at the Big 5 FutureTech Summit calling the industry to invest in the AEC (architecture engineering and construction) tech industry. The summit welcomed speakers from the public and private sector at the Dubai World Trade Centre. Addressing an audience of policymakers disruptors innovators and ESG advisors the summit opened with an insightful session by Abdulrahman Alkholy Senior Principal Engineer - Project Planning & Design Department at the UAE s Ministry of Energy and Infrastructure. Emphasising the innovative strategies that support the industry on its path to digital transformation and adoption of BIM for projects AlKholy said: In order for digital transformation to take place collaboration must be prioritised between all teams. Another critical sessi...
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Construction 5.0 is the need of the hour agreed the thought leaders and innovators at the Big 5 FutureTech Summit calling the industry to invest in the AEC (architecture engineering and construction) tech industry. The summit welcomed speakers from the public and private sector at the Dubai World Trade Centre. Addressing an audience of policymakers disruptors innovators and ESG advisors the summit opened with an insightful session by Abdulrahman Alkholy Senior Principal Engineer - Project Planning & Design Department at the UAE s Ministry of Energy and Infrastructure. Emphasising the innovative strategies that support the industry on its path to digital transformation and adoption of BIM for projects AlKholy said: In order for digital transformation to take place collaboration must be prioritised between all teams. Another critical sessi...
The World Green Building Council (WorldGBC) and leading businesses in the buildings and construction sector today (December 6) presented a unified call for action at the ongoing COP28 event in Dubai to negotiators and heads of states stressing the critical role of the built environment to deliver climate solutions. The WorldGBC a global network of 75 national Green Building Councils (GBCs) sign Open Letter demanding the regulatory change needed to tackle the climate crisis during the Multilevel Action Urbanisation and Built Environment/Transport day at the event. The Open Letter is accompanied by a policy briefing that lays out the regulatory outcomes urgently needed to scale up action and deliver on the sector s huge potential. It also supports the Buildings Breakthrough (a high-level political announcement launched today endorsed by 25 c...
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The World Green Building Council (WorldGBC) and leading businesses in the buildings and construction sector today (December 6) presented a unified call for action at the ongoing COP28 event in Dubai to negotiators and heads of states stressing the critical role of the built environment to deliver climate solutions. The WorldGBC a global network of 75 national Green Building Councils (GBCs) sign Open Letter demanding the regulatory change needed to tackle the climate crisis during the Multilevel Action Urbanisation and Built Environment/Transport day at the event. The Open Letter is accompanied by a policy briefing that lays out the regulatory outcomes urgently needed to scale up action and deliver on the sector s huge potential. It also supports the Buildings Breakthrough (a high-level political announcement launched today endorsed by 25 c...
Ras Al Khaimah Economic Zone (RAKEZ) is taking part in Big 5 Global to help construction startups SMEs manufacturers and investors set up and expand their operations in the northern emirate. The event will run until December 7 at the Dubai World Trade Center (DWTC). RAKEZ s decision to participate in Big 5 Global underlines its dedication to the industry and reflects a plethora of opportunities for investors in the business realm of Ras Al Khaimah and the wider UAE. RAKEZ Group CEO Ramy Jallad said: The UAE s construction industry is on track for a robust 3.3 percent expansion this year with a projected value exceeding 133 billion by 2027 as reported by the Global Data Report. We firmly believe that we can contribute to these figures setting the stage for construction and building materials companies through our participation in Big 5 Global. div...
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Ras Al Khaimah Economic Zone (RAKEZ) is taking part in Big 5 Global to help construction startups SMEs manufacturers and investors set up and expand their operations in the northern emirate. The event will run until December 7 at the Dubai World Trade Center (DWTC). RAKEZ s decision to participate in Big 5 Global underlines its dedication to the industry and reflects a plethora of opportunities for investors in the business realm of Ras Al Khaimah and the wider UAE. RAKEZ Group CEO Ramy Jallad said: The UAE s construction industry is on track for a robust 3.3 percent expansion this year with a projected value exceeding 133 billion by 2027 as reported by the Global Data Report. We firmly believe that we can contribute to these figures setting the stage for construction and building materials companies through our participation in Big 5 Global. div...
French companies specializing in the construction and building-finishing sector are showcasing their innovative products and services at the Big 5 Global event which opened today (December 4) in Dubai. The four-day construction expo which coincides with the COP 28 UAE presents an opportunity to the French industry leaders specialized in digital transformation MEP building materials sustainability and contractors gathered under the French Fab banner said a senior official. The French construction and building-finishing industry is poised to establish strategic alliances in the region. The partnership between France and the UAE founded on a mutual commitment to prioritizing sustainable construction practices and carbon emission reduction finds unity in the shared vision outlined at COP 28 stated Axel Baroux French Trade & Invest Commissioner. ...
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French companies specializing in the construction and building-finishing sector are showcasing their innovative products and services at the Big 5 Global event which opened today (December 4) in Dubai. The four-day construction expo which coincides with the COP 28 UAE presents an opportunity to the French industry leaders specialized in digital transformation MEP building materials sustainability and contractors gathered under the French Fab banner said a senior official. The French construction and building-finishing industry is poised to establish strategic alliances in the region. The partnership between France and the UAE founded on a mutual commitment to prioritizing sustainable construction practices and carbon emission reduction finds unity in the shared vision outlined at COP 28 stated Axel Baroux French Trade & Invest Commissioner. ...
3DXB Group a pioneering force in the construction industry said sustainability was at the core of its business model and the company was committed to promoting eco-friendly practices in the construction sector across the region. To contribute to sustainable construction practices 3DXB incorporates various initiatives into its 3D printing solutions. The firm prioritizes material sourcing from local and eco-friendly suppliers to reduce transportation emissions and support the local economy. Additionally 3DXB s 3D printing machinery is designed with energy efficiency in mind utilizing cutting-edge technologies to minimize power consumption during the printing process. To further support its sustainability efforts 3DXB Group actively engages in various initiatives. The company invests in research and development to develop more sustainable materials and printing process...
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3DXB Group a pioneering force in the construction industry said sustainability was at the core of its business model and the company was committed to promoting eco-friendly practices in the construction sector across the region. To contribute to sustainable construction practices 3DXB incorporates various initiatives into its 3D printing solutions. The firm prioritizes material sourcing from local and eco-friendly suppliers to reduce transportation emissions and support the local economy. Additionally 3DXB s 3D printing machinery is designed with energy efficiency in mind utilizing cutting-edge technologies to minimize power consumption during the printing process. To further support its sustainability efforts 3DXB Group actively engages in various initiatives. The company invests in research and development to develop more sustainable materials and printing process...
The 44th edition of Big 5 Global the largest and most influential construction event in the Middle East Africa and South Asia opens tomorrow (December 4) commencing a four-day run until December 7 at the Dubai World Trade Centre. The event unites the global construction industry under one roof and presents the latest innovations and technologies driving the industry forward. including the buyers industry leaders as well as policy makers said the organisers dmg events. The annual event will feature eight specialised events representing the full spectrum of the construction value chain. These are Big 5 Heavy Middle East Concrete Windows Doors & Facades Expo Gulf Glass HVAC R Expo Middle East Stone Urban Design & Landscape Expo and FM Expo it stated. As Big 5 Global opens tomorrow we are looking forward to welcoming 2 200 exhibitors from over 6...
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The 44th edition of Big 5 Global the largest and most influential construction event in the Middle East Africa and South Asia opens tomorrow (December 4) commencing a four-day run until December 7 at the Dubai World Trade Centre. The event unites the global construction industry under one roof and presents the latest innovations and technologies driving the industry forward. including the buyers industry leaders as well as policy makers said the organisers dmg events. The annual event will feature eight specialised events representing the full spectrum of the construction value chain. These are Big 5 Heavy Middle East Concrete Windows Doors & Facades Expo Gulf Glass HVAC R Expo Middle East Stone Urban Design & Landscape Expo and FM Expo it stated. As Big 5 Global opens tomorrow we are looking forward to welcoming 2 200 exhibitors from over 6...
RSA Cold Chain has signed a lease agreement with DP World to develop a new state-of-the art cold chain facility at the flagship trade and logistics hub of Jebel Ali. RSA Cold Chain is a joint venture of Dubai-based supply chain company RSA Global and Americold a leader in temperature-controlled warehousing and logistics which is based in Atlanta US. This new facility will be designed built and operated by RSA Cold Chain on a 100 000-sq m plot in the Jebel Ali Free Zone (Jafza). The facility will bring 40 000 new pallet positions to the port area while providing multi-temperature capabilities both bonded and non-bonded solutions and connectivity to DP World s best-in-class logistics solutions. Construction to start next year Construction of the new facility is set to begin in early 2024 with comple...
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RSA Cold Chain has signed a lease agreement with DP World to develop a new state-of-the art cold chain facility at the flagship trade and logistics hub of Jebel Ali. RSA Cold Chain is a joint venture of Dubai-based supply chain company RSA Global and Americold a leader in temperature-controlled warehousing and logistics which is based in Atlanta US. This new facility will be designed built and operated by RSA Cold Chain on a 100 000-sq m plot in the Jebel Ali Free Zone (Jafza). The facility will bring 40 000 new pallet positions to the port area while providing multi-temperature capabilities both bonded and non-bonded solutions and connectivity to DP World s best-in-class logistics solutions. Construction to start next year Construction of the new facility is set to begin in early 2024 with comple...
The 44th edition of Big 5 Global supported by the UAE Ministry of Energy & Infrastructure will bring together global leaders in construction industry professionals regulators and innovators from 4 to 7 December 2023 at the Dubai World Trade Centre. Together they will provide a comprehensive perspective on steering the construction sector towards a sustainable future. In 2023 Big 5 Global empowers thought leadership discussions to actively shape initiatives that will transform the construction industry said Josine Heijmans Vice President Construction at dmg events the event organisers. It comes against the vibrant backdrop of the UAE s Year of Sustainability which underscores the nation s dedication to promoting global collaboration in the pursuit of climate action as well as COP28 she stated. ...
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The 44th edition of Big 5 Global supported by the UAE Ministry of Energy & Infrastructure will bring together global leaders in construction industry professionals regulators and innovators from 4 to 7 December 2023 at the Dubai World Trade Centre. Together they will provide a comprehensive perspective on steering the construction sector towards a sustainable future. In 2023 Big 5 Global empowers thought leadership discussions to actively shape initiatives that will transform the construction industry said Josine Heijmans Vice President Construction at dmg events the event organisers. It comes against the vibrant backdrop of the UAE s Year of Sustainability which underscores the nation s dedication to promoting global collaboration in the pursuit of climate action as well as COP28 she stated. ...
DP World s Jebel Ali Free Zone (Jafza) has announced the successful completion of the first phase of its multi-tenant logistics warehousing facility Jafza Logistics Park being developed in collaboration with Group Amana a UAE-based design and build construction consultancy. The Phase I which covers a vast 562 507 sq ft area will boast a variety of facilities such as Grade-A Dry & Pharma storage units temperature-controlled warehouses and office space. This phase was leased completely before its completion showing the strength of demand for logistics and warehousing solutions said a statement from DP World. Jafza Logistics Park is a significant milestone in DP World s commitment to providing world-class logistics solutions to meet the growing demand for warehousing and distribution space in the region. The park is also equipped...
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DP World s Jebel Ali Free Zone (Jafza) has announced the successful completion of the first phase of its multi-tenant logistics warehousing facility Jafza Logistics Park being developed in collaboration with Group Amana a UAE-based design and build construction consultancy. The Phase I which covers a vast 562 507 sq ft area will boast a variety of facilities such as Grade-A Dry & Pharma storage units temperature-controlled warehouses and office space. This phase was leased completely before its completion showing the strength of demand for logistics and warehousing solutions said a statement from DP World. Jafza Logistics Park is a significant milestone in DP World s commitment to providing world-class logistics solutions to meet the growing demand for warehousing and distribution space in the region. The park is also equipped...
While the UAE has been consistently launching green initiatives and projects and setting bolder targets that are both pro-climate and pro-growth to fulfil its climate commitment stakeholders in the real estate industry must take decisive action to safeguard their assets and secure long-term returns according to real estate expert JLL. Emphasising the cost of action versus inaction within the sector from a sustainability perspective JLL unveiled a whitepaper titled The Green Revolution: A Call for Sustainability in Real Estate today (November 23) ahead of the upcoming COP28. It includes valuable insights and key takeaways exploring the critical role of the real estate industry in shaping a sustainable future and the ramifications of inaction as opposed to proactively pursuing green strategies. The whitepaper dives deep into the UAE s e...
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While the UAE has been consistently launching green initiatives and projects and setting bolder targets that are both pro-climate and pro-growth to fulfil its climate commitment stakeholders in the real estate industry must take decisive action to safeguard their assets and secure long-term returns according to real estate expert JLL. Emphasising the cost of action versus inaction within the sector from a sustainability perspective JLL unveiled a whitepaper titled The Green Revolution: A Call for Sustainability in Real Estate today (November 23) ahead of the upcoming COP28. It includes valuable insights and key takeaways exploring the critical role of the real estate industry in shaping a sustainable future and the ramifications of inaction as opposed to proactively pursuing green strategies. The whitepaper dives deep into the UAE s e...
The Saudi Real Estate Refinance Company (SRC) a wholly owned unit of Saudi sovereign wealth fund PIF (Public Investment Fund) has successfully completed its latest sukuk issuance of SAR3.5 billion ( 932 million). Marking the final two tranches under its SAR20 billion government-guaranteed sukuk programme the issuance was offered in 5 and 7-year dual tenors. On the key achievement CEO Fabrice Susini said: The issuance witnessed interest from the institutional investor community reinforcing the confidence in the local market and in SRC s operational framework; it also affirms SRC s pivotal role in contributing to Vision 2030 Housing Program as well as to the Financial Sector Development Program. SRC s consistent sukuk issuances reinforce our commitment to taking part in financial sector development in Saudi Arabia. Through these issuan...
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The Saudi Real Estate Refinance Company (SRC) a wholly owned unit of Saudi sovereign wealth fund PIF (Public Investment Fund) has successfully completed its latest sukuk issuance of SAR3.5 billion ( 932 million). Marking the final two tranches under its SAR20 billion government-guaranteed sukuk programme the issuance was offered in 5 and 7-year dual tenors. On the key achievement CEO Fabrice Susini said: The issuance witnessed interest from the institutional investor community reinforcing the confidence in the local market and in SRC s operational framework; it also affirms SRC s pivotal role in contributing to Vision 2030 Housing Program as well as to the Financial Sector Development Program. SRC s consistent sukuk issuances reinforce our commitment to taking part in financial sector development in Saudi Arabia. Through these issuan...
Starz Real Estate (Starz) a leading pan-European commercial real estate lending platform has launched its latest venture Starz Orion Capital a special situations fund with Mubadala a prominent Abu Dhabi sovereign wealth fund as its anchor investor. Starz anticipates an additional round of investment to expand the Fund s capitalisation by 300 million reflecting their confidence in the Fund s ability to maximise a range of varied new opportunities. The Fund s strategy encompasses a wide range of real estate lending and investment opportunities targeted across Europe including whole senior mezzanine bridge rescue financing or preferred equity financing for refurbishment/redevelopment. It will also support acquisition of distressed debt and non-performing loans; and acquisition of real estate securities comprising REIT s CMBS and other real e...
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Starz Real Estate (Starz) a leading pan-European commercial real estate lending platform has launched its latest venture Starz Orion Capital a special situations fund with Mubadala a prominent Abu Dhabi sovereign wealth fund as its anchor investor. Starz anticipates an additional round of investment to expand the Fund s capitalisation by 300 million reflecting their confidence in the Fund s ability to maximise a range of varied new opportunities. The Fund s strategy encompasses a wide range of real estate lending and investment opportunities targeted across Europe including whole senior mezzanine bridge rescue financing or preferred equity financing for refurbishment/redevelopment. It will also support acquisition of distressed debt and non-performing loans; and acquisition of real estate securities comprising REIT s CMBS and other real e...
Savoye a leading global warehouse automation integrator has partnered with CJ Logistics a 3PL services company operating for iHerb to deliver world-class automation solutions for its e-commerce Global Distribution Centre (GDC) in KSA. The partnership is a significant development for Savoye in KSA following its recent expansion into the region. Under the terms of the partnership Savoye will implement a fully automated fulfilment centre the first-of-its-kind in the region which includes a X-PTS Goods-To-Persons (GTP) shuttle system Warehouse Execution Software (WES) Zone to Zone fast picking system and automated orders packing to process 15K orders per day. Savoye s flagship X-PTS shuttle technology will be central to the project serving as the foundation for an effective and ergonomic Goods-To-Person solution. Hi...
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Savoye a leading global warehouse automation integrator has partnered with CJ Logistics a 3PL services company operating for iHerb to deliver world-class automation solutions for its e-commerce Global Distribution Centre (GDC) in KSA. The partnership is a significant development for Savoye in KSA following its recent expansion into the region. Under the terms of the partnership Savoye will implement a fully automated fulfilment centre the first-of-its-kind in the region which includes a X-PTS Goods-To-Persons (GTP) shuttle system Warehouse Execution Software (WES) Zone to Zone fast picking system and automated orders packing to process 15K orders per day. Savoye s flagship X-PTS shuttle technology will be central to the project serving as the foundation for an effective and ergonomic Goods-To-Person solution. Hi...
Real Estate Regulatory Agency (Rera) an agency of Dubai Land Department (DLD) has partnered with the Innovation Experts Real Estate Institute to introduce an initiative aimed at empowering citizens in the real estate sector. The new initiative which comes in the wake of UAE s preparations to commemorate its 52nd Union Day will see 52 training scholarships being offered to individuals for joining the real estate brokerage course in the Institute which is set to take place from November 27 to 30. DLD had in September signed a MoU with the Institute for the key initiative that aims to boost awareness and expertise within Dubai s real estate sector. This collaboration intends to establish a top-tier real estate training environment that elevates service efficiency customer satisfaction and related services in alignment with the highest international standa...
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Real Estate Regulatory Agency (Rera) an agency of Dubai Land Department (DLD) has partnered with the Innovation Experts Real Estate Institute to introduce an initiative aimed at empowering citizens in the real estate sector. The new initiative which comes in the wake of UAE s preparations to commemorate its 52nd Union Day will see 52 training scholarships being offered to individuals for joining the real estate brokerage course in the Institute which is set to take place from November 27 to 30. DLD had in September signed a MoU with the Institute for the key initiative that aims to boost awareness and expertise within Dubai s real estate sector. This collaboration intends to establish a top-tier real estate training environment that elevates service efficiency customer satisfaction and related services in alignment with the highest international standa...
Ajex Logistics Services a Middle East specialist in express logistics and industrial solutions has sealed a partnership deal with Saudi Authority for Industrial Cities and Technology Zones (Modon) that will see the group operate expanded logistics services from the burgeoning industrial epicenter of Dammam. Marking yet another significant step in Ajex s growth since its launch in 2021 the agreement will see the Saudi-headquartered logistics firm operate warehousing facilities over a 6 000 sqm area at Modon. The units will be utilized for the warehousing of various goods including dangerous goods the storage of food and beverage as well as more general items. The partnership with Modon enhances Ajex s logistics capabilities in Dammam a core center for the kingdom s oil gas and industrial sectors and a fast-growing hub for non-oil related manufacturing ...
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Ajex Logistics Services a Middle East specialist in express logistics and industrial solutions has sealed a partnership deal with Saudi Authority for Industrial Cities and Technology Zones (Modon) that will see the group operate expanded logistics services from the burgeoning industrial epicenter of Dammam. Marking yet another significant step in Ajex s growth since its launch in 2021 the agreement will see the Saudi-headquartered logistics firm operate warehousing facilities over a 6 000 sqm area at Modon. The units will be utilized for the warehousing of various goods including dangerous goods the storage of food and beverage as well as more general items. The partnership with Modon enhances Ajex s logistics capabilities in Dammam a core center for the kingdom s oil gas and industrial sectors and a fast-growing hub for non-oil related manufacturing ...
Saudi Logistics Services (SAL) has signed a contract with Saudi Ports Authority (Mawani) to establish a logistics park at Jeddah Islamic Port to build a logistics park at Jeddah port on a total area of 54 000 sq m as part of its efforts to enhance the kingdom s sea and air connectivity. This agreement is aligned with SAL s vision in becoming the logistics champion for a globally connected Saudi Arabia as well as the company s strategy to expand its offerings across the logistics sector. With cargo handling and logistics solutions this new facility will help SAL penetrate the fulfillment industry at large cementing its role as the National Logistics Champion said Mawani President Omar bin Talal Hariri after signing the deal with SAL Managing Director & CEO Faisal bin Saad bin Albedah at a ceremony held at Jeddah Islamic Port. This also comes as pa...
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Saudi Logistics Services (SAL) has signed a contract with Saudi Ports Authority (Mawani) to establish a logistics park at Jeddah Islamic Port to build a logistics park at Jeddah port on a total area of 54 000 sq m as part of its efforts to enhance the kingdom s sea and air connectivity. This agreement is aligned with SAL s vision in becoming the logistics champion for a globally connected Saudi Arabia as well as the company s strategy to expand its offerings across the logistics sector. With cargo handling and logistics solutions this new facility will help SAL penetrate the fulfillment industry at large cementing its role as the National Logistics Champion said Mawani President Omar bin Talal Hariri after signing the deal with SAL Managing Director & CEO Faisal bin Saad bin Albedah at a ceremony held at Jeddah Islamic Port. This also comes as pa...
The sustainability-focused construction technologies could help turn the Gulf region s 2 trillion construction boom into 4.3 million annual jobs and also reduce lifecycle emissions by 60% according to the latest research by Strategy& Middle East part of the PwC network and the planning design management and consultancy Dar. With the upcoming COP 28 set to be hosted in the UAE and as the region intensifies its focus on its net-zero targets sustainability-focused construction technologies are poised to play a crucial role. The new report suggests that the region has the potential to become a global leader in the use of innovative and sustainability-focused construction technologies as it invests up to 2 trillion in new built environments by 2035. Citing mega-projects such as the NEOM futuristic city in Saudi Arabia and Qatar s plann...
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The sustainability-focused construction technologies could help turn the Gulf region s 2 trillion construction boom into 4.3 million annual jobs and also reduce lifecycle emissions by 60% according to the latest research by Strategy& Middle East part of the PwC network and the planning design management and consultancy Dar. With the upcoming COP 28 set to be hosted in the UAE and as the region intensifies its focus on its net-zero targets sustainability-focused construction technologies are poised to play a crucial role. The new report suggests that the region has the potential to become a global leader in the use of innovative and sustainability-focused construction technologies as it invests up to 2 trillion in new built environments by 2035. Citing mega-projects such as the NEOM futuristic city in Saudi Arabia and Qatar s plann...
Volvo Construction Equipment (Volvo CE) a leading international company involved in the manufacture of construction materials and equipment has joined forces with CRH the global leader in building materials solutions to work towards decarbonisation of construction sector. The strategic partnership will focus on electrification charging infrastructure low carbon fuels and renewable energy which have the combined potential to reduce emissions it added. Volvo CE said it will play a major role in exploring holistic net zero innovations for the construction industry together with CRH following the MoU inked with the group. Both organizations share a determination to decarbonize construction and have set themselves ambitious net zero targets in line with the aims of the Paris Agreement. They will jointly explore decarbonization opportunities across transport op...
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Volvo Construction Equipment (Volvo CE) a leading international company involved in the manufacture of construction materials and equipment has joined forces with CRH the global leader in building materials solutions to work towards decarbonisation of construction sector. The strategic partnership will focus on electrification charging infrastructure low carbon fuels and renewable energy which have the combined potential to reduce emissions it added. Volvo CE said it will play a major role in exploring holistic net zero innovations for the construction industry together with CRH following the MoU inked with the group. Both organizations share a determination to decarbonize construction and have set themselves ambitious net zero targets in line with the aims of the Paris Agreement. They will jointly explore decarbonization opportunities across transport op...
Arcapita Group Holdings the global alternative investment firm based in Bahrain today (November 13) announced the launch of ARC UK Industrial Portfolio a 100 million diversified portfolio of income-generating multi-let industrial buildings located across the UK with a focus on energy efficiency upgrades. This investment is part of Arcapita s long term strategy in the Real Estate market which embraces socially-conscious investments. Under this strategy Arcapita aims to build a highly diversified portfolio with a tenant base distributed across multiple industries generating stable cash flows and providing downside protection during economic downturns. The targeted properties will have shorter term leases and staggered maturities allowing for continued mark-to-market rent growth and providing a hedge against inflation. Arca...
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Arcapita Group Holdings the global alternative investment firm based in Bahrain today (November 13) announced the launch of ARC UK Industrial Portfolio a 100 million diversified portfolio of income-generating multi-let industrial buildings located across the UK with a focus on energy efficiency upgrades. This investment is part of Arcapita s long term strategy in the Real Estate market which embraces socially-conscious investments. Under this strategy Arcapita aims to build a highly diversified portfolio with a tenant base distributed across multiple industries generating stable cash flows and providing downside protection during economic downturns. The targeted properties will have shorter term leases and staggered maturities allowing for continued mark-to-market rent growth and providing a hedge against inflation. Arca...
Saudi Arabia has launched the Real Estate Registry (RER) Platform that provides various digital services including mortgage registration adding real estate rights and obligations and other services that will be provided for the first time in one place. The new RER platform was launched by Minister of Municipal and Rural Affairs and Housing Majid Al-Hogail at the Saudi Proptech Summit held in Riyadh. The event aims at disseminating knowledge in the field of real estate in the Saudi market and increase investments in the Kingdom. It was attended by officials of the National Real Estate Registration Services Company. RER CEO Dr Mohammad Al Suleiman said: We are proud to participate in the summit and happy with the launch of the RER Platform which represents a new phase aligned with our future vision of building a credible and transparent real estate sector. di...
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Saudi Arabia has launched the Real Estate Registry (RER) Platform that provides various digital services including mortgage registration adding real estate rights and obligations and other services that will be provided for the first time in one place. The new RER platform was launched by Minister of Municipal and Rural Affairs and Housing Majid Al-Hogail at the Saudi Proptech Summit held in Riyadh. The event aims at disseminating knowledge in the field of real estate in the Saudi market and increase investments in the Kingdom. It was attended by officials of the National Real Estate Registration Services Company. RER CEO Dr Mohammad Al Suleiman said: We are proud to participate in the summit and happy with the launch of the RER Platform which represents a new phase aligned with our future vision of building a credible and transparent real estate sector. di...
Halliburton Company and Sekal have announced an agreement to jointly provide leading well construction automation solutions as part of a longer-term strategy to deliver fully automated drilling operations. Under the agreement Halliburton and Sekal are collaborating on several technologies and services that incorporate Halliburton digitally integrated well construction solutions and the Sekal DrillTronics automation platform. In addition both parties remote operations centers will provide expertise and support to these offerings. Currently deployed across multiple projects the companies technologies provide end-to-end solutions that automate well construction services from planning to execution. Halliburton and Sekal will expand these projects for other customers. This agreement with Sekal will allow Hallibur...
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Halliburton Company and Sekal have announced an agreement to jointly provide leading well construction automation solutions as part of a longer-term strategy to deliver fully automated drilling operations. Under the agreement Halliburton and Sekal are collaborating on several technologies and services that incorporate Halliburton digitally integrated well construction solutions and the Sekal DrillTronics automation platform. In addition both parties remote operations centers will provide expertise and support to these offerings. Currently deployed across multiple projects the companies technologies provide end-to-end solutions that automate well construction services from planning to execution. Halliburton and Sekal will expand these projects for other customers. This agreement with Sekal will allow Hallibur...
Kuwait International Bank (KIB) a leading Islamic bank in the country has announced that its key unit has won a tender to manage the real estate portfolio for Zakat House Kuwait. This important achievement reflects the leadership of the Bank s Property Management Department in providing comprehensive and distinguished real estate services to all customers. This comes in line with KIB s commitment to its vital role and its reliance on its accumulated expertise in managing and developing portfolios in the governmental sector and other diverse portfolios. Speaking on the occasion Yousef Al Ojail Manager of Property Management at KIB said: This tender is a testament to the confidence placed in KIB by Zakat House Kuwait as a reliable and trusted partner. The Zakat House real estate portfolio includes a group of investment commercial properties located ...
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Kuwait International Bank (KIB) a leading Islamic bank in the country has announced that its key unit has won a tender to manage the real estate portfolio for Zakat House Kuwait. This important achievement reflects the leadership of the Bank s Property Management Department in providing comprehensive and distinguished real estate services to all customers. This comes in line with KIB s commitment to its vital role and its reliance on its accumulated expertise in managing and developing portfolios in the governmental sector and other diverse portfolios. Speaking on the occasion Yousef Al Ojail Manager of Property Management at KIB said: This tender is a testament to the confidence placed in KIB by Zakat House Kuwait as a reliable and trusted partner. The Zakat House real estate portfolio includes a group of investment commercial properties located ...
Abu Dhabi s Department of Municipalities and Transport (DMT) has officially launched the Abu Dhabi Real Estate Centre (ADREC) which aims to accelerate growth across the real estate ecosystem in the emirate. The new centre will unify and strengthen the real estate sector in Abu Dhabi through a comprehensive regulatory framework to further enhance the efficiency of real estate and strengthen oversight as well as increase transparency and support for residents investors real estate companies and professionals. Using innovative tools and data ADREC will streamline processes and strengthen operational efficiency through four focus areas: strategic planning promotion regulation and transaction management. The centre will also oversee real estate development projects and work with developers to ensure the delivery of projects that provide a good quality of life. It will also a...
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Abu Dhabi s Department of Municipalities and Transport (DMT) has officially launched the Abu Dhabi Real Estate Centre (ADREC) which aims to accelerate growth across the real estate ecosystem in the emirate. The new centre will unify and strengthen the real estate sector in Abu Dhabi through a comprehensive regulatory framework to further enhance the efficiency of real estate and strengthen oversight as well as increase transparency and support for residents investors real estate companies and professionals. Using innovative tools and data ADREC will streamline processes and strengthen operational efficiency through four focus areas: strategic planning promotion regulation and transaction management. The centre will also oversee real estate development projects and work with developers to ensure the delivery of projects that provide a good quality of life. It will also a...
Trojena Neom s unique futuristic ski destination is currently making significant construction progress across all clusters and major assets to deliver the development to the 2026 construction completion target Philip Gullett Executive Director Region Head Trojena tells Gulf Construction. Construction is continuing at pace and Neom is well on the way to creating The Lake a magnificent 2.8-km-long man-made freshwater lake at the heart of Trojena and the vertical village The Vault he says. The excavation of the Lake commenced in early 2022 and as of October 2023 approximately 3 million cu m of material has been excavated and reused for the lake liner and dams. Delivering a project of the scale and ambition of Trojena is no small feat. Neom is one of the world s largest projects of this kind and given our commitmen...
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Trojena Neom s unique futuristic ski destination is currently making significant construction progress across all clusters and major assets to deliver the development to the 2026 construction completion target Philip Gullett Executive Director Region Head Trojena tells Gulf Construction. Construction is continuing at pace and Neom is well on the way to creating The Lake a magnificent 2.8-km-long man-made freshwater lake at the heart of Trojena and the vertical village The Vault he says. The excavation of the Lake commenced in early 2022 and as of October 2023 approximately 3 million cu m of material has been excavated and reused for the lake liner and dams. Delivering a project of the scale and ambition of Trojena is no small feat. Neom is one of the world s largest projects of this kind and given our commitmen...
Hamriyah Freezone Authority (HFZA) and Amazon UAE have signed a lease agreement for a new logistics centre which will enhance delivery services for customers in the Northern Emirates. In line with HFZA s vision to bolster economic growth and innovation in the region the agreement supports Amazon UAE s commitment to investing in its presence across the country. Once launched the new centre will enable a seamless delivery experience across the Northern Emirates. HFZA s strategic location and infrastructure combined with over 20 years of Amazon s global technology and operational expertise will further scale convenience and reliability for customer orders said a top official. This collaboration with Amazon is more than a testament to our dedication it is a reflection of our commitment to shaping a lan...
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Hamriyah Freezone Authority (HFZA) and Amazon UAE have signed a lease agreement for a new logistics centre which will enhance delivery services for customers in the Northern Emirates. In line with HFZA s vision to bolster economic growth and innovation in the region the agreement supports Amazon UAE s commitment to investing in its presence across the country. Once launched the new centre will enable a seamless delivery experience across the Northern Emirates. HFZA s strategic location and infrastructure combined with over 20 years of Amazon s global technology and operational expertise will further scale convenience and reliability for customer orders said a top official. This collaboration with Amazon is more than a testament to our dedication it is a reflection of our commitment to shaping a lan...
Why do approximately 70% of digital transformation projects fail? It s a bit like the Matrix movie but in business: what appears to be a working system is often just a facade with roughly half of it being nothing more than imitation; especially when there are as many parties and contractors as in the construction industry. So any change even for the better can easily disrupt the processes. That is why this matrix fights back. So the choice of digital shift and persuading everyone in the organisation to embrace new ways of doing things can be as perplexing as choosing between the red and blue pill. However just like Neo s red pill offered a revolutionary perspective of reality we at Constructly have discovered our own...
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Why do approximately 70% of digital transformation projects fail? It s a bit like the Matrix movie but in business: what appears to be a working system is often just a facade with roughly half of it being nothing more than imitation; especially when there are as many parties and contractors as in the construction industry. So any change even for the better can easily disrupt the processes. That is why this matrix fights back. So the choice of digital shift and persuading everyone in the organisation to embrace new ways of doing things can be as perplexing as choosing between the red and blue pill. However just like Neo s red pill offered a revolutionary perspective of reality we at Constructly have discovered our own...
GFH Financial Group has signed a deal to acquire a leading food services and logistics business in Saudi Arabia which has an enterprise value of SR500 million ( 133.29 million). The announcement was made at the 7th edition of the Future Investment Initiative today in Riyadh. The company which has demonstrated strong financial performance and maintained robust results through multiple business cycles boasts cross-country state-of-the-art integrated warehousing and supply chain operations an extensive premium product portfolio and a diverse base of 1000 blue-chip customers including renowned Horeca players and retail brands in the kingdom. Furthermore it enjoys long-standing relationships with 200 international aggregators and producers. Commenting Razi Al Merbati CEO of GFH Capital said: This transaction will come in line with GFH s strategy to invest in priority sectors aligned w...
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GFH Financial Group has signed a deal to acquire a leading food services and logistics business in Saudi Arabia which has an enterprise value of SR500 million ( 133.29 million). The announcement was made at the 7th edition of the Future Investment Initiative today in Riyadh. The company which has demonstrated strong financial performance and maintained robust results through multiple business cycles boasts cross-country state-of-the-art integrated warehousing and supply chain operations an extensive premium product portfolio and a diverse base of 1000 blue-chip customers including renowned Horeca players and retail brands in the kingdom. Furthermore it enjoys long-standing relationships with 200 international aggregators and producers. Commenting Razi Al Merbati CEO of GFH Capital said: This transaction will come in line with GFH s strategy to invest in priority sectors aligned w...
NEOM a futuristic city being built in northwest Saudi Arabia on the Red Sea and DSV a global supply chain solutions leader have announced a 10 billion exclusive logistics joint venture to provide a full suite of ground sea and air logistics services to support the development of the ambitious projects taking shape in NEOM Saudi Arabia. The partnership will focus on providing logistics services for NEOM in the coming years said a statement. Under the agreement the joint venture will provide end-to-end supply chain management development and investments in transport and logistics assets and infrastructure as well as transport and delivery of goods and materials within NEOM. NEOM will hold 51% of the joint venture with DSV holding the remaining 49%. NEOM envisions unparalleled demand for construction logistics th...
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NEOM a futuristic city being built in northwest Saudi Arabia on the Red Sea and DSV a global supply chain solutions leader have announced a 10 billion exclusive logistics joint venture to provide a full suite of ground sea and air logistics services to support the development of the ambitious projects taking shape in NEOM Saudi Arabia. The partnership will focus on providing logistics services for NEOM in the coming years said a statement. Under the agreement the joint venture will provide end-to-end supply chain management development and investments in transport and logistics assets and infrastructure as well as transport and delivery of goods and materials within NEOM. NEOM will hold 51% of the joint venture with DSV holding the remaining 49%. NEOM envisions unparalleled demand for construction logistics th...
NEOM a futuristic city being built in northwest Saudi Arabia on the Red Sea and DSV a global supply chain solutions leader have announced a 10 billion exclusive logistics joint venture to provide a full suite of ground sea and air logistics services to support the development of the ambitious projects taking shape in NEOM Saudi Arabia. The partnership will focus on providing logistics services for NEOM in the coming years said a statement. Under the agreement the joint venture will provide end-to-end supply chain management development and investments in transport and logistics assets and infrastructure as well as transport and delivery of goods and materials within NEOM. NEOM will hold 51% of the joint venture with DSV holding the remaining 49%. NEOM envisions unparalleled demand for construction logistics th...
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NEOM a futuristic city being built in northwest Saudi Arabia on the Red Sea and DSV a global supply chain solutions leader have announced a 10 billion exclusive logistics joint venture to provide a full suite of ground sea and air logistics services to support the development of the ambitious projects taking shape in NEOM Saudi Arabia. The partnership will focus on providing logistics services for NEOM in the coming years said a statement. Under the agreement the joint venture will provide end-to-end supply chain management development and investments in transport and logistics assets and infrastructure as well as transport and delivery of goods and materials within NEOM. NEOM will hold 51% of the joint venture with DSV holding the remaining 49%. NEOM envisions unparalleled demand for construction logistics th...
Leading UAE developer Damac Properties has announced significant progress within its third master development Damac Lagoons with the construction of villas in Phase I nearly one-month ahead of schedule. Spread across a total area of 4.5 million sq. m this water-inspired community development promises to bring Mediterranean-themed living to the heart of Dubai. Damac Lagoons is situated adjacent to Damac Hills the developer s flagship community development this visionary project offers an idyllic blend of tranquillity and accessibility to the vibrancy of Dubai s city life. Since the project s launch in November 2021 Damac said it has achieved remarkable progress with work underway on 6 500 villas in less than two years. With a total gross floor area (GFA) of 2.3 million sq. m. the community will feature more than 9 000...
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Leading UAE developer Damac Properties has announced significant progress within its third master development Damac Lagoons with the construction of villas in Phase I nearly one-month ahead of schedule. Spread across a total area of 4.5 million sq. m this water-inspired community development promises to bring Mediterranean-themed living to the heart of Dubai. Damac Lagoons is situated adjacent to Damac Hills the developer s flagship community development this visionary project offers an idyllic blend of tranquillity and accessibility to the vibrancy of Dubai s city life. Since the project s launch in November 2021 Damac said it has achieved remarkable progress with work underway on 6 500 villas in less than two years. With a total gross floor area (GFA) of 2.3 million sq. m. the community will feature more than 9 000...
Saudi Real Estate Refinance Company (SRC) a wholly owned unit of the kingdom s wealth fund PIF has appointed Majeed Al Abduljabbar as it new CEO. SRC was established in 2017 with the aim of helping transform the local housing market. It obtained a licence from the Saudi Central Bank to operate in real estate refinancing through the secondary market. It is headed by Minister of Municipal and Rural Affairs and Housing Majed bin Abdullah Al Hogail. Announcing the appointment SRC said Al Abduljabbar will take over the new role effective January 1 2024 from Fabrice Susini after obtaining clearance from Saudi Central Bank. The company s board of directors thanked Susini for his extensive efforts over the years in strengthening the company s position in the real estate finance sector in the kingdom. During his tenur...
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Saudi Real Estate Refinance Company (SRC) a wholly owned unit of the kingdom s wealth fund PIF has appointed Majeed Al Abduljabbar as it new CEO. SRC was established in 2017 with the aim of helping transform the local housing market. It obtained a licence from the Saudi Central Bank to operate in real estate refinancing through the secondary market. It is headed by Minister of Municipal and Rural Affairs and Housing Majed bin Abdullah Al Hogail. Announcing the appointment SRC said Al Abduljabbar will take over the new role effective January 1 2024 from Fabrice Susini after obtaining clearance from Saudi Central Bank. The company s board of directors thanked Susini for his extensive efforts over the years in strengthening the company s position in the real estate finance sector in the kingdom. During his tenur...
Arcapita Group Holdings the global alternative investment firm is currently managing 1 billion of industrial real estate assets making it one of the largest industrial real estate platforms in the GCC region. The firm is expected to double its GCC logistics AUM by 2025 to reach 2 billion. Arcapita embarked on its GCC industrial strategy in 2010 by establishing a series of portfolios and funds dedicated to industrial assets. The Bahrain-headquartered firm grew its assets under management (AUM) by acquiring a diversified base of properties tenanted by a wide range of occupiers including blue-chip international companies regional leaders and local players. Today Arcapita s logistics real estate portfolio principally across Saudi Arabia and the UAE consists of a combined built-up area of over 3.5 million sq ft across more than 30 properties leased to over 8...
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Arcapita Group Holdings the global alternative investment firm is currently managing 1 billion of industrial real estate assets making it one of the largest industrial real estate platforms in the GCC region. The firm is expected to double its GCC logistics AUM by 2025 to reach 2 billion. Arcapita embarked on its GCC industrial strategy in 2010 by establishing a series of portfolios and funds dedicated to industrial assets. The Bahrain-headquartered firm grew its assets under management (AUM) by acquiring a diversified base of properties tenanted by a wide range of occupiers including blue-chip international companies regional leaders and local players. Today Arcapita s logistics real estate portfolio principally across Saudi Arabia and the UAE consists of a combined built-up area of over 3.5 million sq ft across more than 30 properties leased to over 8...
The Saudi Ports Authority (Mawani) has signed an agreement with Saudi Global Ports (SGP) to build a fully logistics park in Dammam at a total investment of nearly SAR1 billion ( 266 million). The SGP operates two container terminals at King Abdulaziz Port in Dammam which is a joint venture between the Saudi Public Investment Fund the Singaporean PSA International Company and Al Balagaa Group . According to Mawani the park is designed to offer comprehensive logistics services and innovative solutions with a strong focus on sustainable practices and systems. It includes warehouses and yards equipped to store and handle all types of dry and refrigerated goods. Additionally the park features a bonded and re-export area specifically dedicated to sorting distribution operations and other value-added services it stated. div...
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The Saudi Ports Authority (Mawani) has signed an agreement with Saudi Global Ports (SGP) to build a fully logistics park in Dammam at a total investment of nearly SAR1 billion ( 266 million). The SGP operates two container terminals at King Abdulaziz Port in Dammam which is a joint venture between the Saudi Public Investment Fund the Singaporean PSA International Company and Al Balagaa Group . According to Mawani the park is designed to offer comprehensive logistics services and innovative solutions with a strong focus on sustainable practices and systems. It includes warehouses and yards equipped to store and handle all types of dry and refrigerated goods. Additionally the park features a bonded and re-export area specifically dedicated to sorting distribution operations and other value-added services it stated. div...
Ginco General Contracting has started construction works on the first two phases of the prestigious South Bay Project which totally consists of 800 spacious villas and townhouses and more than 200 luxurious waterfront mansions. Announcing this Dubai South Properties said the launch of the third phase which is slated for a Q3 2026 completion and as a result of overwhelming interest from buyers it is working on expediting the launches of future phases. The third phase features 213 units comprising 40 three-bedroom villas and 88 four-bedroom villas in addition to 54 five-bedroom and 31 five- to seven-bedroom mansions. Other features Located in the heart of Dubai South s Residential District alongside Expo Road South Bay will also feature a 1-kilometre lagoon more than 3 kilometres o...
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Ginco General Contracting has started construction works on the first two phases of the prestigious South Bay Project which totally consists of 800 spacious villas and townhouses and more than 200 luxurious waterfront mansions. Announcing this Dubai South Properties said the launch of the third phase which is slated for a Q3 2026 completion and as a result of overwhelming interest from buyers it is working on expediting the launches of future phases. The third phase features 213 units comprising 40 three-bedroom villas and 88 four-bedroom villas in addition to 54 five-bedroom and 31 five- to seven-bedroom mansions. Other features Located in the heart of Dubai South s Residential District alongside Expo Road South Bay will also feature a 1-kilometre lagoon more than 3 kilometres o...
Dubai South Properties has announced the commencement of construction works for the first two phases of its South Bay project. Earlier this year the company had appointed Ginco General Contracting for the construction of the prestigious South Bay Project. The company also announced the launch of the third phase which is slated for a Q3 2026 completion and as a result of overwhelming interest from buyers it is working on expediting the launches of future phases the company said. The third phase features 213 units comprising 40 three-bedroom villas and 88 four-bedroom villas in addition to 54 five-bedroom and 31 five- to seven-bedroom mansions. Located in the heart of Dubai South s Residential District alongside Expo Road South Bay will feature over 800 spacious villas and townhouses more than 200 luxurious waterfront mansion...
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Dubai South Properties has announced the commencement of construction works for the first two phases of its South Bay project. Earlier this year the company had appointed Ginco General Contracting for the construction of the prestigious South Bay Project. The company also announced the launch of the third phase which is slated for a Q3 2026 completion and as a result of overwhelming interest from buyers it is working on expediting the launches of future phases the company said. The third phase features 213 units comprising 40 three-bedroom villas and 88 four-bedroom villas in addition to 54 five-bedroom and 31 five- to seven-bedroom mansions. Located in the heart of Dubai South s Residential District alongside Expo Road South Bay will feature over 800 spacious villas and townhouses more than 200 luxurious waterfront mansion...
Defying global economic challenges the Middle East and North Africa (MENA) region s construction sector continues to demonstrate strong performance with a total of 101 billion worth of projects awarded in the first half of the year reveals a new report. The largest share of the project value approximately 67% came from Saudi Arabia ( 44 billion) and the UAE ( 23 billion) with both markets recording an increase compared to the same period last year said JLL s latest Construction Market Intelligence report which is based on insights gathered from industry sources and experts. Although Egypt experienced a decline in the value of awarded projects in the first half of this year as compared to the same period last year the country has a robust pipeline of upcoming projects. In the UAE the residential sector stood out as the strongest with over 9 billion worth of awarded projects an...
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Defying global economic challenges the Middle East and North Africa (MENA) region s construction sector continues to demonstrate strong performance with a total of 101 billion worth of projects awarded in the first half of the year reveals a new report. The largest share of the project value approximately 67% came from Saudi Arabia ( 44 billion) and the UAE ( 23 billion) with both markets recording an increase compared to the same period last year said JLL s latest Construction Market Intelligence report which is based on insights gathered from industry sources and experts. Although Egypt experienced a decline in the value of awarded projects in the first half of this year as compared to the same period last year the country has a robust pipeline of upcoming projects. In the UAE the residential sector stood out as the strongest with over 9 billion worth of awarded projects an...
Trimble a leader in construction technology united companies and industry leaders to discuss the latest insights and trends in construction software technology solutions at its recent Tekla Users Day 2023 Middle East event. Technical experts engineers and developers from several companies learnt about the newest Tekla innovations and tools networked with other Tekla users in the Middle East and exchanged disruptive ideas. The event was a success and another milestone in the company s mission of encouraging businesses to adopt cutting-edge technology and facilitating strategic discussions on the industry s future. Ground-breaking trends Tekla User Day (TUD) is an annual premier event that honours the community of Trimble s Tekla users professionals and innovators providing an ...
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Trimble a leader in construction technology united companies and industry leaders to discuss the latest insights and trends in construction software technology solutions at its recent Tekla Users Day 2023 Middle East event. Technical experts engineers and developers from several companies learnt about the newest Tekla innovations and tools networked with other Tekla users in the Middle East and exchanged disruptive ideas. The event was a success and another milestone in the company s mission of encouraging businesses to adopt cutting-edge technology and facilitating strategic discussions on the industry s future. Ground-breaking trends Tekla User Day (TUD) is an annual premier event that honours the community of Trimble s Tekla users professionals and innovators providing an ...
Zajel a leading name in the logistics industry has announced the creation of its new Freight Forwarding Department to deliver world-class logistics solutions to its clients covering air sea and land transport. Inaugurating the new department the company successfully transported a mega oil and gas shipment from Jebel Ali Port in the UAE to Iraq s Umm Qasr Port marking a significant milestone. The mega shipment weighed approximately 500 tonnes with a volume exceeding 5 000 cubic metres. Zajel s freight forwarding department was successful in transporting the delicate shipment using a combination of break bulk special equipments such as flat racks and open top containers in addition to standard containers. Redefining logistics The consignment was made up of various oil and gas equipments such a...
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Zajel a leading name in the logistics industry has announced the creation of its new Freight Forwarding Department to deliver world-class logistics solutions to its clients covering air sea and land transport. Inaugurating the new department the company successfully transported a mega oil and gas shipment from Jebel Ali Port in the UAE to Iraq s Umm Qasr Port marking a significant milestone. The mega shipment weighed approximately 500 tonnes with a volume exceeding 5 000 cubic metres. Zajel s freight forwarding department was successful in transporting the delicate shipment using a combination of break bulk special equipments such as flat racks and open top containers in addition to standard containers. Redefining logistics The consignment was made up of various oil and gas equipments such a...
Dubai Municipality (DM) has launched the world s first system for certification and conformity marks in the field of 3D printing in the construction industry. This will serve as a proactive measure to streamline procedures and improve the quality of concrete mixes used in factories licensed and operating in Dubai. The step plays a pivotal role in advancing Dubai s leading position as the world s first city to adopt a conformity marking strategy for 3D printers used for construction and regulate this cutting-edge and sustainable construction technology. Dawoud Al Hajri Director General of DM said: The certification and conformity mark system for factories and entities operating in the field of 3D printing for construction has been comprehensively established in alignment with Dubai Municipality s proactive vision. This system embraces international best practices to provide exce...
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Dubai Municipality (DM) has launched the world s first system for certification and conformity marks in the field of 3D printing in the construction industry. This will serve as a proactive measure to streamline procedures and improve the quality of concrete mixes used in factories licensed and operating in Dubai. The step plays a pivotal role in advancing Dubai s leading position as the world s first city to adopt a conformity marking strategy for 3D printers used for construction and regulate this cutting-edge and sustainable construction technology. Dawoud Al Hajri Director General of DM said: The certification and conformity mark system for factories and entities operating in the field of 3D printing for construction has been comprehensively established in alignment with Dubai Municipality s proactive vision. This system embraces international best practices to provide exce...
Messe Frankfurt Middle East has launched a new logistics show which will take place from December 10 to 12 2024 at the Dubai World Trade Centre and is designed to drive the global logistics sector forward. Launched on the sidelines of Automechanika Dubai the logistics experiential showcase will take place alongside Automechanika Dubai providing natural synergies between the automotive industry and the various verticals within the logistics sector and capitalising on the UAE s position as the epicentre of the world s logistics sector bridging Africa the Middle East and Asia. During the launch a high-level leadership panel discussion entitled Pioneering the Future: Driving the MEA Transport and Logistics Sector Forward with Emerging Trends and Innovation in Logistics and Supply Chain outlined the challenges and opportunities within the sector and highlighted the importance of a...
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Messe Frankfurt Middle East has launched a new logistics show which will take place from December 10 to 12 2024 at the Dubai World Trade Centre and is designed to drive the global logistics sector forward. Launched on the sidelines of Automechanika Dubai the logistics experiential showcase will take place alongside Automechanika Dubai providing natural synergies between the automotive industry and the various verticals within the logistics sector and capitalising on the UAE s position as the epicentre of the world s logistics sector bridging Africa the Middle East and Asia. During the launch a high-level leadership panel discussion entitled Pioneering the Future: Driving the MEA Transport and Logistics Sector Forward with Emerging Trends and Innovation in Logistics and Supply Chain outlined the challenges and opportunities within the sector and highlighted the importance of a...
Mammoet a world leader in engineered heavy lift and transport has minimised the complexity of constructing a new Propane Dehydration (PDH) plant being built by Samsung for Advanced Polyolefins Company in Jubail Industrial City. Capable of producing more than 840 000 metric tonnes of propylene each year this is set to be the largest PDH plant in the world increasing Saudi Arabia s total propylene output by more than 60%. Mammoet ensured that its critical components all arrived in the right sequence and were installed smoothly and safely into position minimising port charges and reducing onsite congestion. During construction on the congested site customised lifting system ensured efficient use of space. Immense challenges With a project of this type the challenges are immense a Mammoe...
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Mammoet a world leader in engineered heavy lift and transport has minimised the complexity of constructing a new Propane Dehydration (PDH) plant being built by Samsung for Advanced Polyolefins Company in Jubail Industrial City. Capable of producing more than 840 000 metric tonnes of propylene each year this is set to be the largest PDH plant in the world increasing Saudi Arabia s total propylene output by more than 60%. Mammoet ensured that its critical components all arrived in the right sequence and were installed smoothly and safely into position minimising port charges and reducing onsite congestion. During construction on the congested site customised lifting system ensured efficient use of space. Immense challenges With a project of this type the challenges are immense a Mammoe...
Noatum which leads AD Ports Group s Logistics Cluster operations will acquire 100% equity ownership of Sesé Auto Logistics the Finished Vehicles Logistics (FVL) business of Grupo Logístico Sesé for 81 million euros ( 84.76 million). The transaction is expected to be completed by Q1 2024 subject to regulatory approvals. The acquisition implies a trailing EV/EBITDA of around 3.5x based on the company s Last Twelve Months (LTM) performance to August 2023 - revenue of around 100 million euros with EBITDA margin of 22.5%. Going forward Noatum expects a normalisation of the European automotive logistics market which has been factored in the transaction business case. Sesé Auto Logistics is engaged in road and rail transport logistics of light and heavy vehicles operating from five main European countries namely Spain Germany Poland Czech Republic and Hungary wi...
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Noatum which leads AD Ports Group s Logistics Cluster operations will acquire 100% equity ownership of Sesé Auto Logistics the Finished Vehicles Logistics (FVL) business of Grupo Logístico Sesé for 81 million euros ( 84.76 million). The transaction is expected to be completed by Q1 2024 subject to regulatory approvals. The acquisition implies a trailing EV/EBITDA of around 3.5x based on the company s Last Twelve Months (LTM) performance to August 2023 - revenue of around 100 million euros with EBITDA margin of 22.5%. Going forward Noatum expects a normalisation of the European automotive logistics market which has been factored in the transaction business case. Sesé Auto Logistics is engaged in road and rail transport logistics of light and heavy vehicles operating from five main European countries namely Spain Germany Poland Czech Republic and Hungary wi...
Enowa Neom s energy and water company has piloted helicopter-aided construction for the installation of high-voltage transmission line towers that carry electrical power from one point to another as part of its mandate to build a 100 per cent renewables-based energy system. A first for Saudi Arabia the initiative strengthens Enowa s credentials as a pioneering regional player in the implementation of ecologically friendly construction methods. The individual tower parts are airlifted to the base of the transmission tower in the Neom mountains where they are assembled removing the need to build carbon intensive access roads for trucks cranes and other heavy equipment. Thorsten Schwarz Enowa s Executive Director of Power System Engineering said: Building the power grid transmission towers in the mountains of Neom is an opportunity for Enowa to set a ...
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Enowa Neom s energy and water company has piloted helicopter-aided construction for the installation of high-voltage transmission line towers that carry electrical power from one point to another as part of its mandate to build a 100 per cent renewables-based energy system. A first for Saudi Arabia the initiative strengthens Enowa s credentials as a pioneering regional player in the implementation of ecologically friendly construction methods. The individual tower parts are airlifted to the base of the transmission tower in the Neom mountains where they are assembled removing the need to build carbon intensive access roads for trucks cranes and other heavy equipment. Thorsten Schwarz Enowa s Executive Director of Power System Engineering said: Building the power grid transmission towers in the mountains of Neom is an opportunity for Enowa to set a ...
The annual Cityscape Qatar exhibition will once again feature the popular Cityscape Talks a content platform that focuses on the success of Qatar s real estate sector. One of the key focuses of this year s Talks will be real estate s contribution to the Qatar National Vision Program. Visionary keynotes insightful data-backed presentations and impactful panel discussions will be at the centre of the three-day agenda as part of the 11th edition of Cityscape Qatar taking place from October 24 to 26 at Doha Exhibition and Convention Center. Cityscape Talks 2023 will begin with the opening keynote session - Qatar s real estate roadmap towards 2030 asking How far have we come and where are we headed? Looking at real-estate s contribution to Qatar s economy to date and the impact of the Fifa World Cup 2022 legacy on Qat...
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The annual Cityscape Qatar exhibition will once again feature the popular Cityscape Talks a content platform that focuses on the success of Qatar s real estate sector. One of the key focuses of this year s Talks will be real estate s contribution to the Qatar National Vision Program. Visionary keynotes insightful data-backed presentations and impactful panel discussions will be at the centre of the three-day agenda as part of the 11th edition of Cityscape Qatar taking place from October 24 to 26 at Doha Exhibition and Convention Center. Cityscape Talks 2023 will begin with the opening keynote session - Qatar s real estate roadmap towards 2030 asking How far have we come and where are we headed? Looking at real-estate s contribution to Qatar s economy to date and the impact of the Fifa World Cup 2022 legacy on Qat...
US-based 3D construction printing company AC3D has launched its operations in the UAE vowing to make construction greener cheaper and faster. Focusing on low-rise housing commercial real estate and infrastructure AC3D is setting the stage for a greener era of construction pledging to make it up to 1.5 times more cost-effective and far less labour-intensive. The company aims to accelerate the construction processes achieving up to four times increase in speed while using sustainable printing materials. The 3D construction printing market is expected to reach 2.5 billion in 2025 up from 500 million in 2023. Energy-efficient homes Boris Kozlov Founder & CEO of AC3D said: In addition to reducing CO2 emissions and minimising waste our vertically integrated technology paves the way ...
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US-based 3D construction printing company AC3D has launched its operations in the UAE vowing to make construction greener cheaper and faster. Focusing on low-rise housing commercial real estate and infrastructure AC3D is setting the stage for a greener era of construction pledging to make it up to 1.5 times more cost-effective and far less labour-intensive. The company aims to accelerate the construction processes achieving up to four times increase in speed while using sustainable printing materials. The 3D construction printing market is expected to reach 2.5 billion in 2025 up from 500 million in 2023. Energy-efficient homes Boris Kozlov Founder & CEO of AC3D said: In addition to reducing CO2 emissions and minimising waste our vertically integrated technology paves the way ...
GWC the leading logistics provider in Qatar has announced the successful launch of Phase-2 of GWC Al Wukair Logistics Park the QR1.5 billion ( 410 million) landmark 1.5 million-square-metre integrated logistics hub. Phase-2 comprises more than 500 units designed and optimised for warehousing retail and light industrial workshops operations. These units feature highly competitive leasing rates making them accessible to businesses of all sizes. Since its inauguration in early 2022 the GWC Al Wukair Logistics Park has been making waves of success for a multitude of MSMEs. The launch of phase-2 further affirms our continuing quest for growth and contributing to the realisation of Qatar National Vision 2030 said GWC Chairman Sheikh Abdulla Bin Fahad Bin Jassem Bin Jaber Al Thani. Generous spacing di...
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GWC the leading logistics provider in Qatar has announced the successful launch of Phase-2 of GWC Al Wukair Logistics Park the QR1.5 billion ( 410 million) landmark 1.5 million-square-metre integrated logistics hub. Phase-2 comprises more than 500 units designed and optimised for warehousing retail and light industrial workshops operations. These units feature highly competitive leasing rates making them accessible to businesses of all sizes. Since its inauguration in early 2022 the GWC Al Wukair Logistics Park has been making waves of success for a multitude of MSMEs. The launch of phase-2 further affirms our continuing quest for growth and contributing to the realisation of Qatar National Vision 2030 said GWC Chairman Sheikh Abdulla Bin Fahad Bin Jassem Bin Jaber Al Thani. Generous spacing di...
FedEx Express (FedEx) the world s largest express transportation company has been recognised as the Logistics Company of the Year at the 2023 Logistics and Transport Awards. FedEx was chosen for its well-established network sustainability initiatives and integration of technology within its broad portfolio of transportation and e-commerce services. This recognition is a testimony to our commitment to innovating how we deliver excellence for our customers. We continue to find new ways to meet our customers evolving needs including making our operations more environmentally sustainable as well as using technology to deliver outstanding digital experiences and differentiated solutions for businesses to compete in the global marketplace said Taarek Hinedi vice president of FedEx Express Middle East and Africa operations. ...
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FedEx Express (FedEx) the world s largest express transportation company has been recognised as the Logistics Company of the Year at the 2023 Logistics and Transport Awards. FedEx was chosen for its well-established network sustainability initiatives and integration of technology within its broad portfolio of transportation and e-commerce services. This recognition is a testimony to our commitment to innovating how we deliver excellence for our customers. We continue to find new ways to meet our customers evolving needs including making our operations more environmentally sustainable as well as using technology to deliver outstanding digital experiences and differentiated solutions for businesses to compete in the global marketplace said Taarek Hinedi vice president of FedEx Express Middle East and Africa operations. ...
The World Health Organization (WHO) has released an innovative interactive report that provides insights into the vast operations and global impact of the UN agency s logistics hub in Dubai United Arab Emirates. The report reveals the logistics hub s impressive ability to provide support on an unprecedented scale and its swift adaptable response to humanitarian crises. This reinforces its vital role in emergency response efforts across the WHO Eastern Mediterranean Region and beyond. Lifeline for millions The supplies delivered by WHO s logistics hub in Dubai have been a lifeline for millions across the world. We thank our donors the International Humanitarian City in Dubai the Government of Dubai the Government of the United Arab Emirates other United Nations organizations and the WHO country offices for their collaborative efforts in ensuring this coordination action and solidarity said Dr Ahmed...
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The World Health Organization (WHO) has released an innovative interactive report that provides insights into the vast operations and global impact of the UN agency s logistics hub in Dubai United Arab Emirates. The report reveals the logistics hub s impressive ability to provide support on an unprecedented scale and its swift adaptable response to humanitarian crises. This reinforces its vital role in emergency response efforts across the WHO Eastern Mediterranean Region and beyond. Lifeline for millions The supplies delivered by WHO s logistics hub in Dubai have been a lifeline for millions across the world. We thank our donors the International Humanitarian City in Dubai the Government of Dubai the Government of the United Arab Emirates other United Nations organizations and the WHO country offices for their collaborative efforts in ensuring this coordination action and solidarity said Dr Ahmed...
The Saudi Arabia Ministry of Municipal Rural Affairs and Housing has signed a Memorandum of Understanding (MoU) with Logic Consulting to boost the capabilities of real estate contractors and developers in the kingdom. The announcement of the MoU was made in the presence of Eng Abdullah bin Mohammed AlBudair the Deputy Minister of Municipal Rural Affairs and Housing during the Cityscape Global Exhibition held in Riyadh from September 10 to 13 2023. The ministry was represented by Abdul Rahman bin Abdullah Al-Taweel the Undersecretary of the Ministry of Municipal Rural Affairs and Housing for the Agency for Stimulating Housing Supply and Real Estate Development and Amr Osman the Chairman of Logic Consulting. Raising quality of realty developers The commitment comes in line with Providing support a...
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The Saudi Arabia Ministry of Municipal Rural Affairs and Housing has signed a Memorandum of Understanding (MoU) with Logic Consulting to boost the capabilities of real estate contractors and developers in the kingdom. The announcement of the MoU was made in the presence of Eng Abdullah bin Mohammed AlBudair the Deputy Minister of Municipal Rural Affairs and Housing during the Cityscape Global Exhibition held in Riyadh from September 10 to 13 2023. The ministry was represented by Abdul Rahman bin Abdullah Al-Taweel the Undersecretary of the Ministry of Municipal Rural Affairs and Housing for the Agency for Stimulating Housing Supply and Real Estate Development and Amr Osman the Chairman of Logic Consulting. Raising quality of realty developers The commitment comes in line with Providing support a...
Enowa NEOM s energy and water company has piloted helicopter-aided construction for the installation of high-voltage transmission line towers. The towers transmit electrical power from one point to another and are part of Enowa s mandate to build a 100% renewables-based energy system. NEOM is a new urban giga-project being built in Saudi Arabia s northwestern Tabuk Province. A first for Saudi Arabia the initiative strengthens Enowa s credentials as a pioneering regional player in the implementation of ecologically friendly construction methods said a statement. The individual tower parts are airlifted to the base of the transmission tower in the NEOM mountains where they are assembled removing the need to build carbon intensive access roads for trucks cranes and other heavy equipment it said. ...
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Enowa NEOM s energy and water company has piloted helicopter-aided construction for the installation of high-voltage transmission line towers. The towers transmit electrical power from one point to another and are part of Enowa s mandate to build a 100% renewables-based energy system. NEOM is a new urban giga-project being built in Saudi Arabia s northwestern Tabuk Province. A first for Saudi Arabia the initiative strengthens Enowa s credentials as a pioneering regional player in the implementation of ecologically friendly construction methods said a statement. The individual tower parts are airlifted to the base of the transmission tower in the NEOM mountains where they are assembled removing the need to build carbon intensive access roads for trucks cranes and other heavy equipment it said. ...
Fertiglobe has signed a non-binding Memorandum of Understanding (MoU) with AD Ports Group to explore logistics and supply chain opportunities for storing and shipping urea and ammonia at ports in Egypt and the UAE. The two companies will explore opportunities to leverage AD Ports Group s state-of-the-art cargo handling and storage infrastructure as Fertiglobe the strategic partnership between Adnoc and OCI Global strengthens its urea and ammonia storage and shipping capabilities reduces its greenhouse gas (GHG) footprint enhances operational efficiency and further automates its logistical activities. Ahmed El-Hoshy CEO of Fertiglobe commented: We are pleased to partner with AD Ports Group a UAE national champion and a global leader in maritime trade and logistics. Through this MoU we will identify compelling opportunities across our logistics and supply chain management requirements enabling ...
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Fertiglobe has signed a non-binding Memorandum of Understanding (MoU) with AD Ports Group to explore logistics and supply chain opportunities for storing and shipping urea and ammonia at ports in Egypt and the UAE. The two companies will explore opportunities to leverage AD Ports Group s state-of-the-art cargo handling and storage infrastructure as Fertiglobe the strategic partnership between Adnoc and OCI Global strengthens its urea and ammonia storage and shipping capabilities reduces its greenhouse gas (GHG) footprint enhances operational efficiency and further automates its logistical activities. Ahmed El-Hoshy CEO of Fertiglobe commented: We are pleased to partner with AD Ports Group a UAE national champion and a global leader in maritime trade and logistics. Through this MoU we will identify compelling opportunities across our logistics and supply chain management requirements enabling ...
UAE s Deja Vu Real Estate has appointed Mohab Samak as its new CEO and Managing Partner. Samak a seasoned industry veteran with nearly two decades of experience in real estate including distinguished roles at industry titans like Emaar Hamptons International and Engel & Völkers Dubai is celebrated for his profound knowledge and expertise. The decision to welcome Samak to this pivotal role underlines Deja Vu s steadfast position as the leading authority in buying selling renting and managing properties in the UAE. Raising the bar This appointment marks a significant milestone in the company s evolution signalling its dedication to raising the bar in the industry. With a well-thought-out strategy in place Deja Vu Real Estate is primed to ascend to the summit of the UA...
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UAE s Deja Vu Real Estate has appointed Mohab Samak as its new CEO and Managing Partner. Samak a seasoned industry veteran with nearly two decades of experience in real estate including distinguished roles at industry titans like Emaar Hamptons International and Engel & Völkers Dubai is celebrated for his profound knowledge and expertise. The decision to welcome Samak to this pivotal role underlines Deja Vu s steadfast position as the leading authority in buying selling renting and managing properties in the UAE. Raising the bar This appointment marks a significant milestone in the company s evolution signalling its dedication to raising the bar in the industry. With a well-thought-out strategy in place Deja Vu Real Estate is primed to ascend to the summit of the UA...
The National Bank of Bahrain (NBB) has announced the handover of the first villas within the Suhail real estate development project the first of many projects under the Government Land Development Programme. The Suhail real estate project contains a total of 132 stunning residential villas designed and constructed to the very highest standards by Al Namal Contracting & Trading. All the villas are listed at BD99 000 ( 262 207) and have three bedrooms and a maid s room. The residential project is complemented by new infrastructure which ensures accessibility and provides all the necessary amenities. The properties in the Suhail development are exclusively available to Bahrainis participating in the Ministry of Housing and Urban Planning scheme. 2nd Housing Finance Exhibition The Suhail real es...
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The National Bank of Bahrain (NBB) has announced the handover of the first villas within the Suhail real estate development project the first of many projects under the Government Land Development Programme. The Suhail real estate project contains a total of 132 stunning residential villas designed and constructed to the very highest standards by Al Namal Contracting & Trading. All the villas are listed at BD99 000 ( 262 207) and have three bedrooms and a maid s room. The residential project is complemented by new infrastructure which ensures accessibility and provides all the necessary amenities. The properties in the Suhail development are exclusively available to Bahrainis participating in the Ministry of Housing and Urban Planning scheme. 2nd Housing Finance Exhibition The Suhail real es...
Knest India s largest and the world s fastest growing aluminium formwork firm has signed a deal with ABR Jeddah Contracting Co to set up an aluminium formwork factory in Saudi Arabia. The factory will boost aluminium formwork s supply in Saudi Arabia and other Middle East and North Africa (Mena) countries. Along with the investments the alliance is set to kickstart knowledge sharing and collaborative growth in the sector. The Memorandum of Understanding (MoU) was signed on the sidelines of the India-Saudi Investment Forum 2023 during the G20 Summit in New Delhi. Government endorsement The MoU has been endorsed by key government and industry partners including Saudi Arabia s Ministry of Investment India s Ministry of Commerce & Industry & the Federation of Indian Chambers of Commerce...
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Knest India s largest and the world s fastest growing aluminium formwork firm has signed a deal with ABR Jeddah Contracting Co to set up an aluminium formwork factory in Saudi Arabia. The factory will boost aluminium formwork s supply in Saudi Arabia and other Middle East and North Africa (Mena) countries. Along with the investments the alliance is set to kickstart knowledge sharing and collaborative growth in the sector. The Memorandum of Understanding (MoU) was signed on the sidelines of the India-Saudi Investment Forum 2023 during the G20 Summit in New Delhi. Government endorsement The MoU has been endorsed by key government and industry partners including Saudi Arabia s Ministry of Investment India s Ministry of Commerce & Industry & the Federation of Indian Chambers of Commerce...
Sherwoods International Property a distinguished name in the real estate industry is set to make a significant presence at the Cityscape Global 2023 a leading real estate exhibition in Riyadh which opens on September 10. With over 30 years of experience Sherwoods is a leading name in the real estate industry specializing in the London property market and the GCC region. The event promises to be a platform where Sherwoods will showcase a comprehensive range of properties offering attendees a unique opportunity to explore a diverse selection of real estate options said its top official. At Sherwoods we pride ourselves on delivering an unparalleled level of expertise and an extensive array of services tailored for those looking to buy or sell properties be it residential or commercial remarked its CEO Iseeb Rehman. div...
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Sherwoods International Property a distinguished name in the real estate industry is set to make a significant presence at the Cityscape Global 2023 a leading real estate exhibition in Riyadh which opens on September 10. With over 30 years of experience Sherwoods is a leading name in the real estate industry specializing in the London property market and the GCC region. The event promises to be a platform where Sherwoods will showcase a comprehensive range of properties offering attendees a unique opportunity to explore a diverse selection of real estate options said its top official. At Sherwoods we pride ourselves on delivering an unparalleled level of expertise and an extensive array of services tailored for those looking to buy or sell properties be it residential or commercial remarked its CEO Iseeb Rehman. div...
FedEx Express (FedEx) recently joined industry leaders at the Landmarks in Logistics forum in Saudi Arabia as the official Platinum Sponsor. With the goal of connecting businesses to global possibilities FedEx discussed regional and global trends new innovations and challenges shaping the logistics and supply chain industry in Saudi Arabia. Zaid Khammash Managing Director Operations at FedEx Express was a keynote speaker at the summit. In his address he highlighted the need to align the logistics industry s goals with the three key trends influencing business growth: digitisation e-commerce and sustainability. Digital intelligence Emphasis was laid on the use of digital intelligence digital apps and online payment systems to create smart logistics that can help navigate the dynamic landscape of e-com...
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FedEx Express (FedEx) recently joined industry leaders at the Landmarks in Logistics forum in Saudi Arabia as the official Platinum Sponsor. With the goal of connecting businesses to global possibilities FedEx discussed regional and global trends new innovations and challenges shaping the logistics and supply chain industry in Saudi Arabia. Zaid Khammash Managing Director Operations at FedEx Express was a keynote speaker at the summit. In his address he highlighted the need to align the logistics industry s goals with the three key trends influencing business growth: digitisation e-commerce and sustainability. Digital intelligence Emphasis was laid on the use of digital intelligence digital apps and online payment systems to create smart logistics that can help navigate the dynamic landscape of e-com...
The total value of real estate and infrastructure projects launched but are yet to be delivered since the launch of Saudi Arabia s National Transformation Plan in 2016 has crossed 1.25 trillion with the value of commissioned projects reaching 250 billion according to global real estate consultancy Knight Frank s annual Saudi Giga Projects Report. Knight Frank in this report analyses the value of real estate and infrastructure projects across the western half of the country Riyadh and the remaining provinces. Western Saudi remains a central piece in the transformative vision for the Kingdom with 687 billion of real estate projects expected to be delivered by the end of the decade. Faisal Durrani Partner Head of Research Middle East & North Africa said: Arguably one of if not the most expansive real estate development programs ever seen...
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The total value of real estate and infrastructure projects launched but are yet to be delivered since the launch of Saudi Arabia s National Transformation Plan in 2016 has crossed 1.25 trillion with the value of commissioned projects reaching 250 billion according to global real estate consultancy Knight Frank s annual Saudi Giga Projects Report. Knight Frank in this report analyses the value of real estate and infrastructure projects across the western half of the country Riyadh and the remaining provinces. Western Saudi remains a central piece in the transformative vision for the Kingdom with 687 billion of real estate projects expected to be delivered by the end of the decade. Faisal Durrani Partner Head of Research Middle East & North Africa said: Arguably one of if not the most expansive real estate development programs ever seen...
Brands For Less (BFL) Group has announced the launch of its first SR60 million ( 16 million) Brands For Less Group Logistics Distribution Centre located at Sudair City for Industry and Businesses in Riyadh Saudi Arabia. The state-of-the-art facility will manage the Group s strategic executions and assist in managing retail operations. This will mark a significant leap in its mission to provide top-notch products and services to meet the evolving demands of the Saudi market. A significant milestone in the company s expansion strategy the establishment of this the Logistics Distribution Centre has been marked by a signing ceremony between Majed Al Argoubi CEO of MODON and Toufic Kreidieh Executive Chairman & Group CEO of Brands For Less Group at the MODON Head Office. Fully-automated system T...
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Brands For Less (BFL) Group has announced the launch of its first SR60 million ( 16 million) Brands For Less Group Logistics Distribution Centre located at Sudair City for Industry and Businesses in Riyadh Saudi Arabia. The state-of-the-art facility will manage the Group s strategic executions and assist in managing retail operations. This will mark a significant leap in its mission to provide top-notch products and services to meet the evolving demands of the Saudi market. A significant milestone in the company s expansion strategy the establishment of this the Logistics Distribution Centre has been marked by a signing ceremony between Majed Al Argoubi CEO of MODON and Toufic Kreidieh Executive Chairman & Group CEO of Brands For Less Group at the MODON Head Office. Fully-automated system T...
Kuwait s real estate sales for the first six months fell to KD1.5 billion ( 5.1 billion) compared to last year s figures of KD1.9 billion ( 6.5 billion) primarily due to reduced demand caused by high property prices in the residential sector and high interest rates acting as a deterrent to lending according to Kuwait Financial Centre (Markaz). The residential sales in H1 dropped to KD736 million ( 2.4 billion) compared to KD1.013 billion ( 3.3 billion) in H1 2022. The number of transactions also fell by 38% y-o-y in H1 2023. The Istithmari segment (housing rental market) also declined by 21% y-o-y reaching KD458 million ( 1.5 billion) in H1 2023 owing to a slower-than-anticipated recovery in the rental markets stated Markaz in its report. Commercial sector sales declined by 46% y-o-y in H1 2023 to KD210 million ( 684 million) as compared to KD387 million ( ...
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Kuwait s real estate sales for the first six months fell to KD1.5 billion ( 5.1 billion) compared to last year s figures of KD1.9 billion ( 6.5 billion) primarily due to reduced demand caused by high property prices in the residential sector and high interest rates acting as a deterrent to lending according to Kuwait Financial Centre (Markaz). The residential sales in H1 dropped to KD736 million ( 2.4 billion) compared to KD1.013 billion ( 3.3 billion) in H1 2022. The number of transactions also fell by 38% y-o-y in H1 2023. The Istithmari segment (housing rental market) also declined by 21% y-o-y reaching KD458 million ( 1.5 billion) in H1 2023 owing to a slower-than-anticipated recovery in the rental markets stated Markaz in its report. Commercial sector sales declined by 46% y-o-y in H1 2023 to KD210 million ( 684 million) as compared to KD387 million ( ...
HRH Prince Mohammed bin Salman bin Abdulaziz Crown Prince Prime Minister and Chairman of the Supreme Committee for Transport and Logistics has launched the kingdom s Master Plan for Logistics Centres. It is is mainly aimed at developing the infrastructure of the kingdom s logistical sector as well as greatly enhancing the status of KSA as a leading investment and a global logistical hub reported SPA. Unveiling the strategy Prince Mohammed said it was part of a package of ongoing initiatives set as targets by the National Transport and Logistics Strategy (NTLS) with the aim of developing the logistical sector to support the economy increase the local regional and international connections of the international trade networks and global supply chains. The Master Plan for Logistics Centers involves the development of 59 centres over a total area of more than 100 ...
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HRH Prince Mohammed bin Salman bin Abdulaziz Crown Prince Prime Minister and Chairman of the Supreme Committee for Transport and Logistics has launched the kingdom s Master Plan for Logistics Centres. It is is mainly aimed at developing the infrastructure of the kingdom s logistical sector as well as greatly enhancing the status of KSA as a leading investment and a global logistical hub reported SPA. Unveiling the strategy Prince Mohammed said it was part of a package of ongoing initiatives set as targets by the National Transport and Logistics Strategy (NTLS) with the aim of developing the logistical sector to support the economy increase the local regional and international connections of the international trade networks and global supply chains. The Master Plan for Logistics Centers involves the development of 59 centres over a total area of more than 100 ...
Sheikh Hamad bin Mohammed Al Sharqi Supreme Council Member and Ruler of Fujairah issued Law No.3 for 2023 on regulating joint property ownership in the emirate of Fujairah reported Wam. Sheikh Hamad also issued Law No.4 for 2023 regulating real estate development guarantee accounts. The two laws stipulate that developers management companies associations and owners unions are to align their situations with the provisions of the laws within six months from the dates of their issuance with the possibility for the relevant authority s director to extend the deadline for the same period when required stated the report. The provisions of the two laws do not affect contracts between developers and owners signed before their enforcement as well as fundamental association systems approved and deposited by a relevant authority except for the formation of owners...
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Sheikh Hamad bin Mohammed Al Sharqi Supreme Council Member and Ruler of Fujairah issued Law No.3 for 2023 on regulating joint property ownership in the emirate of Fujairah reported Wam. Sheikh Hamad also issued Law No.4 for 2023 regulating real estate development guarantee accounts. The two laws stipulate that developers management companies associations and owners unions are to align their situations with the provisions of the laws within six months from the dates of their issuance with the possibility for the relevant authority s director to extend the deadline for the same period when required stated the report. The provisions of the two laws do not affect contracts between developers and owners signed before their enforcement as well as fundamental association systems approved and deposited by a relevant authority except for the formation of owners...
Saudi Arabian Mining Company (Ma aden) has awarded a key construction contract worth SR105 million ( 28 million) to Darkstone a specialist in industrial mechanical and electrical maintenance construction and MEP works for the second phase of Mansourah-Massarah Gold Project in the kingdom. An open-pit mine located in the Central Arabian gold region of Saudi Arabia approximately 500km southeast of Riyadh the project was initiated by Ma aden Gold and Base Metals Company (MGBM) the largest mining company in Saudi Arabia. MGBM is looking at a production capacity of 250 000 ounces of gold annually over an estimated life of 12 years. In August it had awarded the procurement and construction contract for the second stage of the project to Darkstone Arabia company and the Engineering assigned to ATC Williams to aid in designing the tailings and water management system. /di...
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Saudi Arabian Mining Company (Ma aden) has awarded a key construction contract worth SR105 million ( 28 million) to Darkstone a specialist in industrial mechanical and electrical maintenance construction and MEP works for the second phase of Mansourah-Massarah Gold Project in the kingdom. An open-pit mine located in the Central Arabian gold region of Saudi Arabia approximately 500km southeast of Riyadh the project was initiated by Ma aden Gold and Base Metals Company (MGBM) the largest mining company in Saudi Arabia. MGBM is looking at a production capacity of 250 000 ounces of gold annually over an estimated life of 12 years. In August it had awarded the procurement and construction contract for the second stage of the project to Darkstone Arabia company and the Engineering assigned to ATC Williams to aid in designing the tailings and water management system. /di...
Global heavy lift and transport specialist Mammoet said a new zero emission heavy transport vehicle has been created which can remove the carbon impact of installing large infrastructure such as bridges wind turbines and power station components. Mammoet said it works by converting existing Self-propelled Modular Transporters - or SPMTs - from diesel to electric power. SPMTs are the workhorse of heavy industry used in almost every large energy and construction project worldwide. The new vehicle shows Mammoet s strong commitment to the energy transition and to its own sustainability. Fitting new engines in existing SPMT fleets cuts down on both waste and additional construction compared to purchasing new zero emission equipment. The new SPMT can eliminate the carbon footprint of site transports. This allows o...
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Global heavy lift and transport specialist Mammoet said a new zero emission heavy transport vehicle has been created which can remove the carbon impact of installing large infrastructure such as bridges wind turbines and power station components. Mammoet said it works by converting existing Self-propelled Modular Transporters - or SPMTs - from diesel to electric power. SPMTs are the workhorse of heavy industry used in almost every large energy and construction project worldwide. The new vehicle shows Mammoet s strong commitment to the energy transition and to its own sustainability. Fitting new engines in existing SPMT fleets cuts down on both waste and additional construction compared to purchasing new zero emission equipment. The new SPMT can eliminate the carbon footprint of site transports. This allows o...
Leading maritime services provider P&O Maritime Logistics has secured an exclusive towage contract with DP World in the Dominican Republic which will increase the volume and size of vessels calling at the Port of Caucedo. The contract which starts on December 7 will see P&O Maritime Logistics deploy three tugs to support operations at Caucedo which has a capacity to handle up to 2.5 million twenty-foot equivalent units (TEUs). Two of the tugs are new builds and all three will be equipped with market leading capabilities helping facilitate higher frequency and the handling of larger vessels. This is in addition to Oil Spill Response and Firefighting capabilities. Growth strategy The new contract is part of P&O Maritime Logistics growth strategy in the Americas. Located near the capital Santo ...
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Leading maritime services provider P&O Maritime Logistics has secured an exclusive towage contract with DP World in the Dominican Republic which will increase the volume and size of vessels calling at the Port of Caucedo. The contract which starts on December 7 will see P&O Maritime Logistics deploy three tugs to support operations at Caucedo which has a capacity to handle up to 2.5 million twenty-foot equivalent units (TEUs). Two of the tugs are new builds and all three will be equipped with market leading capabilities helping facilitate higher frequency and the handling of larger vessels. This is in addition to Oil Spill Response and Firefighting capabilities. Growth strategy The new contract is part of P&O Maritime Logistics growth strategy in the Americas. Located near the capital Santo ...
Saudi Electricity Company (SEC) has awarded a major contract for the setting up of a 380/132kV substation within the mega futuristic city NEOM in the north west of Saudi Arabia. The contract worth SR744 million ( 198.3 million) for NEOM Mountain BSP was clinched by local firm Al Gihaz Contracting Company. A diversified Saudi company Al Gihaz boasts more than 40 successful years of providing integrated solutions for conventional energy renewable energy communications infrastructure security services and entertainment projects. The project scope includes construction of new indoor 380/132kV gas insulated substation (GIS) within the NEOM facility. -TradeArabia News Service ...
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Saudi Electricity Company (SEC) has awarded a major contract for the setting up of a 380/132kV substation within the mega futuristic city NEOM in the north west of Saudi Arabia. The contract worth SR744 million ( 198.3 million) for NEOM Mountain BSP was clinched by local firm Al Gihaz Contracting Company. A diversified Saudi company Al Gihaz boasts more than 40 successful years of providing integrated solutions for conventional energy renewable energy communications infrastructure security services and entertainment projects. The project scope includes construction of new indoor 380/132kV gas insulated substation (GIS) within the NEOM facility. -TradeArabia News Service ...
Abu Dhabi Islamic Bank (ADIB) has announced that it has continued to grow its UK commercial real estate financing portfolio with over 100 million ( 127.3 million) in new financing assets in the first six months of this year. Ther closed deals include providing structured financing for various projects such as a 343-unit co-living scheme in North Acton West London a 400 key hotel at Gatwick Airport a 133 000 sqft Grade A multi-let office campus in Guildford and a 153 000 sqft national HQ office campus in Newport Wales. ADIB said it has been able to offer selective Islamic structured financing solutions to its clients facilitating both refinancing and new acquisitions. These achievements have come amidst a challenging UK Commercial Real Estate market which has experienced a significant correction in capital values over the last 12 months largely due to adjustments in t...
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Abu Dhabi Islamic Bank (ADIB) has announced that it has continued to grow its UK commercial real estate financing portfolio with over 100 million ( 127.3 million) in new financing assets in the first six months of this year. Ther closed deals include providing structured financing for various projects such as a 343-unit co-living scheme in North Acton West London a 400 key hotel at Gatwick Airport a 133 000 sqft Grade A multi-let office campus in Guildford and a 153 000 sqft national HQ office campus in Newport Wales. ADIB said it has been able to offer selective Islamic structured financing solutions to its clients facilitating both refinancing and new acquisitions. These achievements have come amidst a challenging UK Commercial Real Estate market which has experienced a significant correction in capital values over the last 12 months largely due to adjustments in t...
Damac International has announced that construction of its Mandarin Oriental Bolidhuffaru Reef Resort currently under development in the Maldives is progressing well. The project s beach villa foundations and structure are underway while the beach reclamation works are almost complete. The infrastructure for the island is also nearing completion. Mohammed Tahaineh General Manager of Projects at Damac International stated: We are excited to see the progress at the Bolidhuffaru Reef Resort. By fostering reliable and reputed partnerships with skilled experts in the field we are confident that the resort will shape up to its goals of being a unique product in a world-class destination. Earlier this year multiple contracts were awarded to consultancies for a series of structural engineering and consultancy services. Additionally contracts ...
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Damac International has announced that construction of its Mandarin Oriental Bolidhuffaru Reef Resort currently under development in the Maldives is progressing well. The project s beach villa foundations and structure are underway while the beach reclamation works are almost complete. The infrastructure for the island is also nearing completion. Mohammed Tahaineh General Manager of Projects at Damac International stated: We are excited to see the progress at the Bolidhuffaru Reef Resort. By fostering reliable and reputed partnerships with skilled experts in the field we are confident that the resort will shape up to its goals of being a unique product in a world-class destination. Earlier this year multiple contracts were awarded to consultancies for a series of structural engineering and consultancy services. Additionally contracts ...
Damac International has announced that construction of its Mandarin Oriental Bolidhuffaru Reef Resort currently under development in the Maldives is progressing well. The project s beach villa foundations and structure are underway while the beach reclamation works are almost complete. The infrastructure for the island is also nearing completion. Mohammed Tahaineh General Manager of Projects at Damac International stated: We are excited to see the progress at the Bolidhuffaru Reef Resort. By fostering reliable and reputed partnerships with skilled experts in the field we are confident that the resort will shape up to its goals of being a unique product in a world-class destination. Earlier this year multiple contracts were awarded to consultancies for a series of structural engineering and consultancy services. Additionally contracts ...
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Damac International has announced that construction of its Mandarin Oriental Bolidhuffaru Reef Resort currently under development in the Maldives is progressing well. The project s beach villa foundations and structure are underway while the beach reclamation works are almost complete. The infrastructure for the island is also nearing completion. Mohammed Tahaineh General Manager of Projects at Damac International stated: We are excited to see the progress at the Bolidhuffaru Reef Resort. By fostering reliable and reputed partnerships with skilled experts in the field we are confident that the resort will shape up to its goals of being a unique product in a world-class destination. Earlier this year multiple contracts were awarded to consultancies for a series of structural engineering and consultancy services. Additionally contracts ...
Most construction businesses would support government incentives and regulation to help fast-track progress towards emissions reduction and bridge the gap between net-zero optimism and operational reality according to Turner & Townsend a global professional services company with over 10 000 people in 50 countries. There is a pressing need for the construction industry to shift its focus to sustainability and prioritise net zero stated Turner & Townsend in its report Building a Sustainable Future in the Middle East . The report by the global professional services consultancy looks to gauge and shape the understanding of sustainability of construction in the region ahead of Dubai hosting COP28 later in the year. The outcomes from COP28 are expected to change the way construction businesses operate in terms of sustainability and net-zero ambitions over ...
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Most construction businesses would support government incentives and regulation to help fast-track progress towards emissions reduction and bridge the gap between net-zero optimism and operational reality according to Turner & Townsend a global professional services company with over 10 000 people in 50 countries. There is a pressing need for the construction industry to shift its focus to sustainability and prioritise net zero stated Turner & Townsend in its report Building a Sustainable Future in the Middle East . The report by the global professional services consultancy looks to gauge and shape the understanding of sustainability of construction in the region ahead of Dubai hosting COP28 later in the year. The outcomes from COP28 are expected to change the way construction businesses operate in terms of sustainability and net-zero ambitions over ...
India s top engineering and construction firm Larsen & Toubro (L&T) has announced that one of its key subsidiaries - Heavy Civil Infrastructure - has secured a significant contract from a major client in the Middle East. The package is the first of its kind for the Indian construction conglomerate in the Middle East market. As per the deal the business vertical of L&T Construction will provide feasibility study concept design detailed design construction and installation of special systems. L&T Construction has also baggwed contracts from Rail Vikas Nigam Limited (RVNL) for the design and construction of an underground metro project in connection with Joka Esplanade Metro Corridor in the city of Kolkata. The work involves design and construction of the ramp and metro rail line covering four underground stations...
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India s top engineering and construction firm Larsen & Toubro (L&T) has announced that one of its key subsidiaries - Heavy Civil Infrastructure - has secured a significant contract from a major client in the Middle East. The package is the first of its kind for the Indian construction conglomerate in the Middle East market. As per the deal the business vertical of L&T Construction will provide feasibility study concept design detailed design construction and installation of special systems. L&T Construction has also baggwed contracts from Rail Vikas Nigam Limited (RVNL) for the design and construction of an underground metro project in connection with Joka Esplanade Metro Corridor in the city of Kolkata. The work involves design and construction of the ramp and metro rail line covering four underground stations...
Saudi Arabia s real estate market maintained its growth momentum in the second quarter of the year with most of the sectors recording high levels of activity across the kingdom s major cities according real estate industry expert CBRE. Looking at the kingdom s office sector figures occupier demand from international and government entities continued to be prevalent in Riyadh stated CBRE in its Q2 report. Office rents in the Saudi capital maintained strong performance levels with Grade A rents growing by 12.2% and Grade B rents rising by 14.4% year-on-year to Q2 2023. Average occupancy for both segments in the capital also rose with Grade A occupancy reaching 99.9% and Grade B offices now standing at 99.4%. In Jeddah the Grade A segment recorded the highest rate of growth in rents among CBRE s tracked cities as average rents grew by 20.7% ...
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Saudi Arabia s real estate market maintained its growth momentum in the second quarter of the year with most of the sectors recording high levels of activity across the kingdom s major cities according real estate industry expert CBRE. Looking at the kingdom s office sector figures occupier demand from international and government entities continued to be prevalent in Riyadh stated CBRE in its Q2 report. Office rents in the Saudi capital maintained strong performance levels with Grade A rents growing by 12.2% and Grade B rents rising by 14.4% year-on-year to Q2 2023. Average occupancy for both segments in the capital also rose with Grade A occupancy reaching 99.9% and Grade B offices now standing at 99.4%. In Jeddah the Grade A segment recorded the highest rate of growth in rents among CBRE s tracked cities as average rents grew by 20.7% ...
The UAE s construction sector posted a 9.2 per cent growth in the first quarter (Q1) of 2023 compared to the same period in 2022 to total AED36.3 billion ( 9.88 billion) according to data issued by the Federal Center for Competitiveness and Statistics. The real estate sector recorded a 3.1 per cent growth compared to the same period in 2022. The UAE s GDP grew to AED418.3 billion ( 113.9 billion) in the first quarter (Q1) of 2023 up 3.8 per cent or more than AED15 billion compared to the same period last year the data said. Most sectors and economic activities that serve as the key pillars of the national economy made significant contributions to the growth. The contribution of the transport and storage sector to the GDP in Q1 2023 amounted to AED21.79 billion up...
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The UAE s construction sector posted a 9.2 per cent growth in the first quarter (Q1) of 2023 compared to the same period in 2022 to total AED36.3 billion ( 9.88 billion) according to data issued by the Federal Center for Competitiveness and Statistics. The real estate sector recorded a 3.1 per cent growth compared to the same period in 2022. The UAE s GDP grew to AED418.3 billion ( 113.9 billion) in the first quarter (Q1) of 2023 up 3.8 per cent or more than AED15 billion compared to the same period last year the data said. Most sectors and economic activities that serve as the key pillars of the national economy made significant contributions to the growth. The contribution of the transport and storage sector to the GDP in Q1 2023 amounted to AED21.79 billion up...
Abu Dhabi s Department of Municipalities and Transport (DMT) has announced that a total of 10 557 property transactions worth more than AED46.33 billion ( 12.6 billion) had been recorded for the first six months of the year thus revealing its continued growth driven by investor optimism. Abu Dhabi real estate trading index shows 6 730 purchase and sale transactions worth AED25.09 billion and 3 827 mortgage transactions worth AED21.24 billion stated DMT in its latest half-yearly report that indicates all kinds of land buildings and real estate purchased sold and mortgaged. In the list of top five areas in terms of the numbers and values of real estate transactions in Abu Dhabi for H1 Al Saadiyat Island emerged as the winner with transactions worth AED3 billion followed by Yas Island coming in at second place with transactions worth AED2.6 billion. With AED2.4 billion Al R...
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Abu Dhabi s Department of Municipalities and Transport (DMT) has announced that a total of 10 557 property transactions worth more than AED46.33 billion ( 12.6 billion) had been recorded for the first six months of the year thus revealing its continued growth driven by investor optimism. Abu Dhabi real estate trading index shows 6 730 purchase and sale transactions worth AED25.09 billion and 3 827 mortgage transactions worth AED21.24 billion stated DMT in its latest half-yearly report that indicates all kinds of land buildings and real estate purchased sold and mortgaged. In the list of top five areas in terms of the numbers and values of real estate transactions in Abu Dhabi for H1 Al Saadiyat Island emerged as the winner with transactions worth AED3 billion followed by Yas Island coming in at second place with transactions worth AED2.6 billion. With AED2.4 billion Al R...
Dubai s real estate sector has seen unprecedented surge in the first half of this year with a total of 60 440 sales transactions worth AED177.3 billion ( 48.27 billion) being recorded says Unique Properties one of Dubai s leading real estate agencies. The value of real estate sales recorded in the first six months of the year exceeds the annual sales value recorded each year in Dubai from 2009 to 2021 while also showing a 46.71% jump for the residential property market and 30% for the commercial sector when compared to the same period last year it said. Throughout the H1 Dubai witnessed the largest real estate sales deals in its history with transactions including a land sale covering an area of approximately 203 million sq ft in the area adjacent to Maktoum International Airport valued at AED3.8 billion. Furthermore the most expensive apartment sale ever was recorded at AED410 mill...
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Dubai s real estate sector has seen unprecedented surge in the first half of this year with a total of 60 440 sales transactions worth AED177.3 billion ( 48.27 billion) being recorded says Unique Properties one of Dubai s leading real estate agencies. The value of real estate sales recorded in the first six months of the year exceeds the annual sales value recorded each year in Dubai from 2009 to 2021 while also showing a 46.71% jump for the residential property market and 30% for the commercial sector when compared to the same period last year it said. Throughout the H1 Dubai witnessed the largest real estate sales deals in its history with transactions including a land sale covering an area of approximately 203 million sq ft in the area adjacent to Maktoum International Airport valued at AED3.8 billion. Furthermore the most expensive apartment sale ever was recorded at AED410 mill...
Abu Dhabi s Department of Municipalities and Transport (DMT) announced that foreign direct investment (FDI) in the individual category within Abu Dhabi s real estate sector has soared to AED834.6 million during the first half of 2023 achieving a record growth rate of 363% compared to the corresponding period last year. As per DMT data the following five regions topped the list in terms of the highest shares of FDI by individuals: Saadiyat Island with 34% Yas Island with 28% Al Jurf with 12% Al Reem Island with 11% and Al Shamkha area with 8%. Dr Adeeb Al-Afifi Executive Director of the Real Estate Sector at DMT said: We are thrilled to announce the remarkable surge in foreign direct real estate investments in Abu Dhabi. The astounding 363% growth witnessed during the first half of this year is a testament to the emirate s exceptional appeal to foreign investors. ...
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Abu Dhabi s Department of Municipalities and Transport (DMT) announced that foreign direct investment (FDI) in the individual category within Abu Dhabi s real estate sector has soared to AED834.6 million during the first half of 2023 achieving a record growth rate of 363% compared to the corresponding period last year. As per DMT data the following five regions topped the list in terms of the highest shares of FDI by individuals: Saadiyat Island with 34% Yas Island with 28% Al Jurf with 12% Al Reem Island with 11% and Al Shamkha area with 8%. Dr Adeeb Al-Afifi Executive Director of the Real Estate Sector at DMT said: We are thrilled to announce the remarkable surge in foreign direct real estate investments in Abu Dhabi. The astounding 363% growth witnessed during the first half of this year is a testament to the emirate s exceptional appeal to foreign investors. ...
Osool a leading integrated real estate company in Saudi Arabia said it shas been signed up by the kingdom s General Organization for Social Insurance (GOSI) to manage the entirety of its local income generating real estate portfolio which includes more than 29 prime assets. These include Digital City - an office-dominated mixed-use complex in Al Nakheel Riyadh; Granada Mall a leading urban mixed-use complex located in the Granada District of Riyadh and Granada Business Park a sprawling commercial development housing 11 buildings featuring 131 867 sq m offices and 283 sq m of F&B. Assets also include Olaya Towers the trio of Madinah Buildings and Obhur city: a well-appointed residential development comprised of over 2 500 modern apartments. With this deal Osool an integrated real estate company established by GOSI has taken another important step towards tra...
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Osool a leading integrated real estate company in Saudi Arabia said it shas been signed up by the kingdom s General Organization for Social Insurance (GOSI) to manage the entirety of its local income generating real estate portfolio which includes more than 29 prime assets. These include Digital City - an office-dominated mixed-use complex in Al Nakheel Riyadh; Granada Mall a leading urban mixed-use complex located in the Granada District of Riyadh and Granada Business Park a sprawling commercial development housing 11 buildings featuring 131 867 sq m offices and 283 sq m of F&B. Assets also include Olaya Towers the trio of Madinah Buildings and Obhur city: a well-appointed residential development comprised of over 2 500 modern apartments. With this deal Osool an integrated real estate company established by GOSI has taken another important step towards tra...
Leading UAE-based developer Damac Properties has announced that its key development Cavalli Tower achieved a significant milestone with the initial casting of the raft foundation on-site at Dubai Marina. The casting consisted of over 2 000 tonne of steel reinforcement and 4 500 cu m of concrete and was completed by the contracting company China State Construction Engineering Corporation over a period of 25 hours. The substructure of the tower was designed under the supervision of the Damac technical team while Chinese group executed the works in close co-ordination with the Dubai developer s project management team. The solidification of the foundation marks a critical phase in the construction of the 71 storey luxury residential tower that vows to set new standards in elegance and luxury in the Dubai skyline. The to...
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Leading UAE-based developer Damac Properties has announced that its key development Cavalli Tower achieved a significant milestone with the initial casting of the raft foundation on-site at Dubai Marina. The casting consisted of over 2 000 tonne of steel reinforcement and 4 500 cu m of concrete and was completed by the contracting company China State Construction Engineering Corporation over a period of 25 hours. The substructure of the tower was designed under the supervision of the Damac technical team while Chinese group executed the works in close co-ordination with the Dubai developer s project management team. The solidification of the foundation marks a critical phase in the construction of the 71 storey luxury residential tower that vows to set new standards in elegance and luxury in the Dubai skyline. The to...
Global infrastructure major Acciona said it has become a lead investor in SAALG Geomechanics an engineering startup headquartered in Barcelona Spain that predicts real ground movement during the entire construction cycle with a large volume of data. Acciona as strategic partner will allow SAALG Geomechanics to apply its Daarwin analysis software to the field of tunneling in which the group has extensive experience as it has a dozen tunnel-boring machines (TBMs) currently operating in different projects of high complexity around the globe. According to industry experts currently more than 30% of tunnel construction projects worldwide experience geotechnical difficulties that lead to cost overruns or delays with an average additional cost that can reach more than 55% of the original budget. The new functionalities of the Daarwin software based on machine learni...
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Global infrastructure major Acciona said it has become a lead investor in SAALG Geomechanics an engineering startup headquartered in Barcelona Spain that predicts real ground movement during the entire construction cycle with a large volume of data. Acciona as strategic partner will allow SAALG Geomechanics to apply its Daarwin analysis software to the field of tunneling in which the group has extensive experience as it has a dozen tunnel-boring machines (TBMs) currently operating in different projects of high complexity around the globe. According to industry experts currently more than 30% of tunnel construction projects worldwide experience geotechnical difficulties that lead to cost overruns or delays with an average additional cost that can reach more than 55% of the original budget. The new functionalities of the Daarwin software based on machine learni...
The International Air Transport Association (IATA) working with Atkins a member of the SNC-Lavalin Group has created a suite of innovative digital tools for airports to estimate the embodied carbon associated with the construction of terminal buildings and aviation assets for the first time. The digital toolkit will enable airports to better understand and mitigate the impacts of construction-related activities that contribute to carbon said IATA. As the global aviation industry continues its post-pandemic growth modernising and adapting infrastructure to meet Net Zero targets and the needs of sustainable aviation the need to reduce embodied carbon in new buildings such as terminals and runways is ever more pressing. The digital tools will deliver embodied carbon benchmarking for the three key airport asset types of terminal buildings runways and mu...
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The International Air Transport Association (IATA) working with Atkins a member of the SNC-Lavalin Group has created a suite of innovative digital tools for airports to estimate the embodied carbon associated with the construction of terminal buildings and aviation assets for the first time. The digital toolkit will enable airports to better understand and mitigate the impacts of construction-related activities that contribute to carbon said IATA. As the global aviation industry continues its post-pandemic growth modernising and adapting infrastructure to meet Net Zero targets and the needs of sustainable aviation the need to reduce embodied carbon in new buildings such as terminals and runways is ever more pressing. The digital tools will deliver embodied carbon benchmarking for the three key airport asset types of terminal buildings runways and mu...
Saudi Arabia plans to establish 59 logistics zones and increase the capacity of its ports to more than 40 million containers by 2030 a senior official has revealed. Speaking at a reception in London Deputy Minister of Transport and Logistic Services and Acting Chairman of the Transport General Authority Dr Rumaih Al-Rumaih said the national strategy for transport and logistics had set clear goals in all aspects of maritime development pointing out that the kingdom aims by 2030 to be among the top 10 countries in the Logistics Performance (LPI) index. The reception was attended by the Saudi Ambassador to the UK Prince Khalid Bn Bandar Bin Sultan as well as several ambassadors and delegates members of the International Maritime Organization (IMO) and those involved in the sector a report in Saudi Gazette quoting Saudi Press Agency...
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Saudi Arabia plans to establish 59 logistics zones and increase the capacity of its ports to more than 40 million containers by 2030 a senior official has revealed. Speaking at a reception in London Deputy Minister of Transport and Logistic Services and Acting Chairman of the Transport General Authority Dr Rumaih Al-Rumaih said the national strategy for transport and logistics had set clear goals in all aspects of maritime development pointing out that the kingdom aims by 2030 to be among the top 10 countries in the Logistics Performance (LPI) index. The reception was attended by the Saudi Ambassador to the UK Prince Khalid Bn Bandar Bin Sultan as well as several ambassadors and delegates members of the International Maritime Organization (IMO) and those involved in the sector a report in Saudi Gazette quoting Saudi Press Agency...
Angirus an innovative Indian startup headquartered in Udaipur Rajasthan recently revealed its groundbreaking solution for creating lightweight and waterproof building products exclusively from recycled waste materials at the 14th Annual Meeting of the New Champions (AMNC) in Tianjin China. At the AMNC 2023 (also known as the Summer Davos Forum) Kunjpreet Arora the Co-Founder and CEO of Angirus highlighted the severe environmental impact of the brick industry in India which has become the second-largest contributor to air pollution. The forum brought together over 1 500 global leaders from various sectors providing a crucial platform for discussions on global economic recovery. The event s key topics included energy transition material supply nature conservation and climate change. During the event Arora drew attention to...
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Angirus an innovative Indian startup headquartered in Udaipur Rajasthan recently revealed its groundbreaking solution for creating lightweight and waterproof building products exclusively from recycled waste materials at the 14th Annual Meeting of the New Champions (AMNC) in Tianjin China. At the AMNC 2023 (also known as the Summer Davos Forum) Kunjpreet Arora the Co-Founder and CEO of Angirus highlighted the severe environmental impact of the brick industry in India which has become the second-largest contributor to air pollution. The forum brought together over 1 500 global leaders from various sectors providing a crucial platform for discussions on global economic recovery. The event s key topics included energy transition material supply nature conservation and climate change. During the event Arora drew attention to...
AP Moller Maersk the global integrated logistics company has opened the doors to its third Warehousing & Distribution (W&D) facility in Dubai UAE which is also its first Cold Store in the country. Situated at Dubai Industrial City a member of TECOM Group PJSC Maersk s Cold Store is strategically located when it comes to connectivity to Jebel Ali Port Al Maktoum International Airport direct road access across the UAE and an Etihad Rail freight terminal. The demand for perishables that require cold storage is rising in the UAE owing to the growing population and robust tourism resulting in increased demand for speciality foods without compromising the integrity of the product. At Maersk our purpose is to improve life for all by integrating the world and we saw an opportunity to establish a facility that would help us achieve our purpose in UAE said Christopher Coo...
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AP Moller Maersk the global integrated logistics company has opened the doors to its third Warehousing & Distribution (W&D) facility in Dubai UAE which is also its first Cold Store in the country. Situated at Dubai Industrial City a member of TECOM Group PJSC Maersk s Cold Store is strategically located when it comes to connectivity to Jebel Ali Port Al Maktoum International Airport direct road access across the UAE and an Etihad Rail freight terminal. The demand for perishables that require cold storage is rising in the UAE owing to the growing population and robust tourism resulting in increased demand for speciality foods without compromising the integrity of the product. At Maersk our purpose is to improve life for all by integrating the world and we saw an opportunity to establish a facility that would help us achieve our purpose in UAE said Christopher Coo...
Leading Middle East markets continue to experience high-growth in construction activity as the region invests in nation-building agendas that support economic diversification away from fossil fuels according to global professional services consultancy Turner & Townsend. The Kingdom of Saudi Arabia leads the region in new project opportunities and government commitment to major infrastructure investment with average cost to build in Riyadh seen at 2 379 per sq m while Doha market activity is cooling after unprecedented World Cup programmes stated the industry expert in its International Construction Market Survey (ICMS). The survey also shows that the region has been less affected by supply chain disruption and softening growth seen in other markets. Turner & Townsend pointed out that the Middle East presents a relative bright spot in a challenging global construction ...
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Leading Middle East markets continue to experience high-growth in construction activity as the region invests in nation-building agendas that support economic diversification away from fossil fuels according to global professional services consultancy Turner & Townsend. The Kingdom of Saudi Arabia leads the region in new project opportunities and government commitment to major infrastructure investment with average cost to build in Riyadh seen at 2 379 per sq m while Doha market activity is cooling after unprecedented World Cup programmes stated the industry expert in its International Construction Market Survey (ICMS). The survey also shows that the region has been less affected by supply chain disruption and softening growth seen in other markets. Turner & Townsend pointed out that the Middle East presents a relative bright spot in a challenging global construction ...
World leading real estate event Cityscape Global is gathering momentum with some of Europe s leading property developers and investors joining its line-up. Participants will include leading investors such as Qatari Diar Berkeley and Regal London with more set to follow. Taking place in Riyadh from September 10 to 13 Cityscape Global will attract around 180 000 visitors from across the globe. This record-breaking event will offer a unique platform for European companies to showcase flagship projects and explore new avenues of growth in the dynamic Middle Eastern market. Range of collaboration European participants will explore a range of collaboration and cross border investment opportunities; with developers architects Proptech professionals consultants and contractors mingling with major global i...
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World leading real estate event Cityscape Global is gathering momentum with some of Europe s leading property developers and investors joining its line-up. Participants will include leading investors such as Qatari Diar Berkeley and Regal London with more set to follow. Taking place in Riyadh from September 10 to 13 Cityscape Global will attract around 180 000 visitors from across the globe. This record-breaking event will offer a unique platform for European companies to showcase flagship projects and explore new avenues of growth in the dynamic Middle Eastern market. Range of collaboration European participants will explore a range of collaboration and cross border investment opportunities; with developers architects Proptech professionals consultants and contractors mingling with major global i...
Adnoc Logistics and Services today (June 20) took delivery of a newbuild Very Large Crude Carrier (VLCC) Hafeet. The vessel is the first of four dual-fuel engine VLCCs which can also run on Liquified Natural Gas (LNG) that will be delivered this year to support the company s smart growth strategy. Adnoc L&S said it has committed approximately 2 billion to build more environmentally efficient vessels and has reduced the carbon intensity of its owned fleet by more than 20% since 2018. CEO Captain Abdulkareem Al Masabi said the addition of Hafeet the first of four newbuild VLCCs to the group s expanding fleet will increase its energy transportation capacity. Our strategic investment in new environmentally efficient vessels reinforces our commitment to more sustainable shipping and to decreasing the carbon intensity of o...
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Adnoc Logistics and Services today (June 20) took delivery of a newbuild Very Large Crude Carrier (VLCC) Hafeet. The vessel is the first of four dual-fuel engine VLCCs which can also run on Liquified Natural Gas (LNG) that will be delivered this year to support the company s smart growth strategy. Adnoc L&S said it has committed approximately 2 billion to build more environmentally efficient vessels and has reduced the carbon intensity of its owned fleet by more than 20% since 2018. CEO Captain Abdulkareem Al Masabi said the addition of Hafeet the first of four newbuild VLCCs to the group s expanding fleet will increase its energy transportation capacity. Our strategic investment in new environmentally efficient vessels reinforces our commitment to more sustainable shipping and to decreasing the carbon intensity of o...
GFH Financial Group has announced its ongoing growth and diversification with the launch of GFH Partners a fully-owned subsidiary focused on expanding the group s global asset management capabilities with a particular focus on the real estate sector. GFH Partners currently manages over 6 billion of real estate assets as part of the total 18 billion of assets managed by the group. A leading dynamic regional financial group headquartered in Bahrain GFH Financial Group boasts a diversified offering with interests in asset management and real estate and a pioneering track record. GFH Partners manages assets in the stabilized and core markets of the US UK Saudi Arabia and the UAE where it aims to capture and capitalise on strong economic growth prospects in these regions. The new unit offers institutional and professional clients holistic investment solutions ...
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GFH Financial Group has announced its ongoing growth and diversification with the launch of GFH Partners a fully-owned subsidiary focused on expanding the group s global asset management capabilities with a particular focus on the real estate sector. GFH Partners currently manages over 6 billion of real estate assets as part of the total 18 billion of assets managed by the group. A leading dynamic regional financial group headquartered in Bahrain GFH Financial Group boasts a diversified offering with interests in asset management and real estate and a pioneering track record. GFH Partners manages assets in the stabilized and core markets of the US UK Saudi Arabia and the UAE where it aims to capture and capitalise on strong economic growth prospects in these regions. The new unit offers institutional and professional clients holistic investment solutions ...
Leading UAE-based real estate developer Damac Properties has announced further developments to its third master community Damac Lagoons with new contracts worth close to AED235 million ( 64 million) awarded to Hills & Fort Construction and Ancient Builders Construction. Located adjacent to Damac Hills the Lagoons community is the Emirati developer s third master community project in Dubai covering a total area of 45 million sq ft. There will be several activity hubs and residential clusters in the community all themed and named after Mediterranean cities such as Nice Morocco Ibiza Portofino Monte Carlo Marbella Mykonos Malta Santorini Costa Brava and Venice. According to Damac Hills & Fort Construction has been awarded a contract for the community roads and infrastructure works at the Malta and Venice clusters while Ancient Builders Construction has...
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Leading UAE-based real estate developer Damac Properties has announced further developments to its third master community Damac Lagoons with new contracts worth close to AED235 million ( 64 million) awarded to Hills & Fort Construction and Ancient Builders Construction. Located adjacent to Damac Hills the Lagoons community is the Emirati developer s third master community project in Dubai covering a total area of 45 million sq ft. There will be several activity hubs and residential clusters in the community all themed and named after Mediterranean cities such as Nice Morocco Ibiza Portofino Monte Carlo Marbella Mykonos Malta Santorini Costa Brava and Venice. According to Damac Hills & Fort Construction has been awarded a contract for the community roads and infrastructure works at the Malta and Venice clusters while Ancient Builders Construction has...
SCG International a unit of leading Thai conglomerate with over 100 years of construction industry expertise has announced its strategic entry into the South Asia the Middle East and Africa region with a new office in Dubai. Unveiling its strategy for region SCG said the Dubai facility will serve as a central hub for sourcing and transporting goods across the region. In bid to boost its presence further in MEA it plans to establish a similar set up in Saudi Arabia. The move is aimed at capitalising on the monumental construction projects envisioned in Crown Prince Mohammed bin Salman s ambitious 2030 plan by diversifying investments across various sectors it added. As part of our journey we are focused on the South Asia the Middle East and Africa region that presents a fresh opportunity building upon our well-established strengths and presence in the ASEAN ...
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SCG International a unit of leading Thai conglomerate with over 100 years of construction industry expertise has announced its strategic entry into the South Asia the Middle East and Africa region with a new office in Dubai. Unveiling its strategy for region SCG said the Dubai facility will serve as a central hub for sourcing and transporting goods across the region. In bid to boost its presence further in MEA it plans to establish a similar set up in Saudi Arabia. The move is aimed at capitalising on the monumental construction projects envisioned in Crown Prince Mohammed bin Salman s ambitious 2030 plan by diversifying investments across various sectors it added. As part of our journey we are focused on the South Asia the Middle East and Africa region that presents a fresh opportunity building upon our well-established strengths and presence in the ASEAN ...
Saudi Real Estate Refinance Company (SRC) has announced that it has entered into an agreement with Ginnie Mae a US government-owned corporation operating within the Department of Housing and Urban Development for sharing of policies and regulations in the housing finance sector. A wholly-owned unit of kingdom s Public Investment Fund the SRC said the collaboration was aimed at supporting affordable housing and the mortgage market for citizens in both the US and the Kingdom of Saudi Arabia. Established in 1968 under the National Housing Act Ginnie Mae s primary function is to provide US government guarantees for mortgage-backed securities issued by private financial institutions. Currently Ginnie Mae s outstanding portfolio of mortgage-backed securities has reached approximately 2.4 trillion accounting for 25-30% of the US mortgage market. ...
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Saudi Real Estate Refinance Company (SRC) has announced that it has entered into an agreement with Ginnie Mae a US government-owned corporation operating within the Department of Housing and Urban Development for sharing of policies and regulations in the housing finance sector. A wholly-owned unit of kingdom s Public Investment Fund the SRC said the collaboration was aimed at supporting affordable housing and the mortgage market for citizens in both the US and the Kingdom of Saudi Arabia. Established in 1968 under the National Housing Act Ginnie Mae s primary function is to provide US government guarantees for mortgage-backed securities issued by private financial institutions. Currently Ginnie Mae s outstanding portfolio of mortgage-backed securities has reached approximately 2.4 trillion accounting for 25-30% of the US mortgage market. ...
Leading architects consultants contractors and local government representatives and decision-makers were in Riyadh for Building Leisure Buildings a key industry event where they shared insights on current and future leisure construction projects. Building Leisure Buildings is a premier invitation-only business community for global investors architects consultants contractors and operators which was officially launched in Saudi Arabia. The event hosted at the iconic Hilton Riyadh Hotel & Residences comes at a time when KSA is witnessing tremendous growth in leisure construction sector. According to experts Saudi Arabia s commitment to Vision 2030 has driven growth of the kingdom s leisure economy offering new cultural and creative opportunities. With a projected household spending on entertainment rea...
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Leading architects consultants contractors and local government representatives and decision-makers were in Riyadh for Building Leisure Buildings a key industry event where they shared insights on current and future leisure construction projects. Building Leisure Buildings is a premier invitation-only business community for global investors architects consultants contractors and operators which was officially launched in Saudi Arabia. The event hosted at the iconic Hilton Riyadh Hotel & Residences comes at a time when KSA is witnessing tremendous growth in leisure construction sector. According to experts Saudi Arabia s commitment to Vision 2030 has driven growth of the kingdom s leisure economy offering new cultural and creative opportunities. With a projected household spending on entertainment rea...
The Saudi Real Estate Refinance Company (SRC) said it has successfully completed its latest sukuk issuance of SR3.5 billion. This is its sixth tranche under its upsized Saudi-Riyal-denominated 20 billion sukuk programme guaranteed by Saudi Ministry of Finance. A unit of Saudi sovereign wealth fund PIF (Public Investment Fund) the SRC stated that the latest tranche issued demonstrates strong investor confidence in SRC and the kingdom s economy. This issuance will enable SRC to keep mortgage rates at low levels it stated. SRC recently obtained an A- (stable) credit rating from S&P Global and was upgraded by Fitch earlier this year to A (stable) while Moody s Ratings upgraded its outlook on SRC to Positive . CEO Fabrice Susini said: The positive response from investors to its latest sukuk issuance is a clear testament to the strength of the kingdo...
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The Saudi Real Estate Refinance Company (SRC) said it has successfully completed its latest sukuk issuance of SR3.5 billion. This is its sixth tranche under its upsized Saudi-Riyal-denominated 20 billion sukuk programme guaranteed by Saudi Ministry of Finance. A unit of Saudi sovereign wealth fund PIF (Public Investment Fund) the SRC stated that the latest tranche issued demonstrates strong investor confidence in SRC and the kingdom s economy. This issuance will enable SRC to keep mortgage rates at low levels it stated. SRC recently obtained an A- (stable) credit rating from S&P Global and was upgraded by Fitch earlier this year to A (stable) while Moody s Ratings upgraded its outlook on SRC to Positive . CEO Fabrice Susini said: The positive response from investors to its latest sukuk issuance is a clear testament to the strength of the kingdo...
Saudi-based Diriyah Company has achieved a key construction milestone clocking 50 million safe man-hours across its immense project portfolio thus setting a new benchmark for safe construction and excellence in occupational health and safety management. The key development has already welcomed a million visitors in the five months since the opening of its first two physical offerings said a statement from Diriyah. With a daily workforce of over 21 000 and in excess of 1 100 pieces of heavy equipment on site this landmark achievement establishes a new regional benchmark for safe construction and excellence in occupational health and safety management. As Diriyah Company delivers on its commitment to continually improve safety practices and conditions to protect employees communities and the environment it is providing relevant stakeholders from project management consultants ...
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Saudi-based Diriyah Company has achieved a key construction milestone clocking 50 million safe man-hours across its immense project portfolio thus setting a new benchmark for safe construction and excellence in occupational health and safety management. The key development has already welcomed a million visitors in the five months since the opening of its first two physical offerings said a statement from Diriyah. With a daily workforce of over 21 000 and in excess of 1 100 pieces of heavy equipment on site this landmark achievement establishes a new regional benchmark for safe construction and excellence in occupational health and safety management. As Diriyah Company delivers on its commitment to continually improve safety practices and conditions to protect employees communities and the environment it is providing relevant stakeholders from project management consultants ...
Saudi Arabia s Ministry of Transport & Logistics Services (MOTLS) has laid out an ambitious strategy to grow the kingdom s logistics sector market size to SR57.4 billion ( 15.31 billion) by 2030 and position it as a global logistics hub. In October 2022 The Crown Prince Mohammed bin Salman had launched the Global Supply Chain Resilience Initiative (GSCRI) to attract local and international investments in the supply chain sector. Aiming to raise SR40 billion ( 10.64 billion) in its first two years the initiative has set SR10 billion in financial and non-financial incentives for investors. Saudi Arabia has been on the fast track to shift its economy away from oil and build a more diverse and holistic economic ecosystem. Currently the logistics sector contributes 6% of the KSA GDP and is projected to contribute 10% by 2030 that is around SR20.1 billion. &...
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Saudi Arabia s Ministry of Transport & Logistics Services (MOTLS) has laid out an ambitious strategy to grow the kingdom s logistics sector market size to SR57.4 billion ( 15.31 billion) by 2030 and position it as a global logistics hub. In October 2022 The Crown Prince Mohammed bin Salman had launched the Global Supply Chain Resilience Initiative (GSCRI) to attract local and international investments in the supply chain sector. Aiming to raise SR40 billion ( 10.64 billion) in its first two years the initiative has set SR10 billion in financial and non-financial incentives for investors. Saudi Arabia has been on the fast track to shift its economy away from oil and build a more diverse and holistic economic ecosystem. Currently the logistics sector contributes 6% of the KSA GDP and is projected to contribute 10% by 2030 that is around SR20.1 billion. &...
Bahrain has achieved new rankings on the Logistics Performance Index 2023 published by World Bank as the Most Improving Country in the GCC ranking 2nd in the Arab World and 34th globally climbing 25 positions since 2018. On account of the milestone projects and initiatives delivered within the logistics sector across the past year the kingdom advanced 58 positions on the Timeliness Subindex to reach 2nd in Mena (10th globally) in view of the least aviation import dwell time on average. Moreover Bahrain ranked one in the GCC in terms of minimal number of delay observations in import and exports. Trade logistics The World Bank report offers a comprehensive review of the trade logistics performance collecting data from May to October 2022 across 139 countries using s...
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Bahrain has achieved new rankings on the Logistics Performance Index 2023 published by World Bank as the Most Improving Country in the GCC ranking 2nd in the Arab World and 34th globally climbing 25 positions since 2018. On account of the milestone projects and initiatives delivered within the logistics sector across the past year the kingdom advanced 58 positions on the Timeliness Subindex to reach 2nd in Mena (10th globally) in view of the least aviation import dwell time on average. Moreover Bahrain ranked one in the GCC in terms of minimal number of delay observations in import and exports. Trade logistics The World Bank report offers a comprehensive review of the trade logistics performance collecting data from May to October 2022 across 139 countries using s...
A 62% increase in the number high-net-worth individuals (HNWIs) living in Dubai from 2012 to 2022 has placed the city s real estate market on a trajectory to achieve AED300 billion ( 81.69 billion) in sales this year Unique Properties one of Dubai s leading real estate agencies said. The emirate houses over 68 400 HNWIs and with such individuals increasingly flocking to the UAE the country s prime real estate segment is flourishing it said. Dubai has become a preferred destination for the world s highly affluent to settle down largely due to the UAE s deft handling of the pandemic and the country s convenient geographic location. Tax advantages and favourable policies are also major contributing factors. Dubai s real estate market is forecast to witness 46% growth in 2023. Sitting atop the Middle East s HNWI rankings Dubai&rsquo...
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A 62% increase in the number high-net-worth individuals (HNWIs) living in Dubai from 2012 to 2022 has placed the city s real estate market on a trajectory to achieve AED300 billion ( 81.69 billion) in sales this year Unique Properties one of Dubai s leading real estate agencies said. The emirate houses over 68 400 HNWIs and with such individuals increasingly flocking to the UAE the country s prime real estate segment is flourishing it said. Dubai has become a preferred destination for the world s highly affluent to settle down largely due to the UAE s deft handling of the pandemic and the country s convenient geographic location. Tax advantages and favourable policies are also major contributing factors. Dubai s real estate market is forecast to witness 46% growth in 2023. Sitting atop the Middle East s HNWI rankings Dubai&rsquo...
Leading industry experts policy makers and solution vendors will take part in the Mena Construction 4.0 Forum a key industry event for architecture engineering and construction sector to be held in Dubai from May 24 to 25. With sustainability going hand in hand with digitalisation the conference will highlight the urgency for more effective building solutions while examining why the digitalisation of the AEC industry is essential to mitigating business-critical challenges said the organisers. More than 100 delegates will be in attendance and will help to unveil how revolutionising and integrating new technologies can assist the AEC industry in optimising productivity to drive best quality results with minimal investment while at the same time encouraging the development of more sustainable infrastructure they stated. Attendees will also benefit from insightful...
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Leading industry experts policy makers and solution vendors will take part in the Mena Construction 4.0 Forum a key industry event for architecture engineering and construction sector to be held in Dubai from May 24 to 25. With sustainability going hand in hand with digitalisation the conference will highlight the urgency for more effective building solutions while examining why the digitalisation of the AEC industry is essential to mitigating business-critical challenges said the organisers. More than 100 delegates will be in attendance and will help to unveil how revolutionising and integrating new technologies can assist the AEC industry in optimising productivity to drive best quality results with minimal investment while at the same time encouraging the development of more sustainable infrastructure they stated. Attendees will also benefit from insightful...
The Bahrain real estate sector largely continued the upward momentum from 2022 albeit at a slower pace given increasing global macro-economic uncertainties according to leading real estate expert Savills. In the residential market villa developments continued to gain in popularity in Q1 2023 with capital values across the mid-end segment rising 5.2% y-o-y stated Savills in its Q1 2023 Bahrain Property Market in Minutes report. Rates are now estimated at BD603/sq m compared to BD573/sq m in Q1 2022. However the increased cost of credit has impacted demand for high-end/premium developments with apartments feeling the impact more than villas. High-end apartment values have dropped by 1.3% q-o-q. In the rental market demand for low-end and mid-end villas remained strong as end-users limited their expenses owing to the current global economic landscape. d...
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The Bahrain real estate sector largely continued the upward momentum from 2022 albeit at a slower pace given increasing global macro-economic uncertainties according to leading real estate expert Savills. In the residential market villa developments continued to gain in popularity in Q1 2023 with capital values across the mid-end segment rising 5.2% y-o-y stated Savills in its Q1 2023 Bahrain Property Market in Minutes report. Rates are now estimated at BD603/sq m compared to BD573/sq m in Q1 2022. However the increased cost of credit has impacted demand for high-end/premium developments with apartments feeling the impact more than villas. High-end apartment values have dropped by 1.3% q-o-q. In the rental market demand for low-end and mid-end villas remained strong as end-users limited their expenses owing to the current global economic landscape. d...
The General Authority of Civil Aviation (GACA) in Saudi Arabia has signed an agreement with CJ Logistics to build a dedicated e-Commerce Global Distribution Centre at Riyadh Integrated. It will be housed in the kingdom s first Special Integrated Logistics Zone and will be completed by 2024. The proposed facility is a state-of-the-art logistics centre with a gross floor area of 18 000 sq m and a daily throughput capacity of 15 000 boxes. It will serve as a forwarding base and hub for logistics in the region connecting the Middle East Africa and Europe. CJ Logistics recently signed an eight-year long-term contract with iHub before establishing the Global Distribution Centre. The new Centre will offer international delivery of iHerb products to the Middle East one of the largest online retailers for health and wellness products. Key...
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The General Authority of Civil Aviation (GACA) in Saudi Arabia has signed an agreement with CJ Logistics to build a dedicated e-Commerce Global Distribution Centre at Riyadh Integrated. It will be housed in the kingdom s first Special Integrated Logistics Zone and will be completed by 2024. The proposed facility is a state-of-the-art logistics centre with a gross floor area of 18 000 sq m and a daily throughput capacity of 15 000 boxes. It will serve as a forwarding base and hub for logistics in the region connecting the Middle East Africa and Europe. CJ Logistics recently signed an eight-year long-term contract with iHub before establishing the Global Distribution Centre. The new Centre will offer international delivery of iHerb products to the Middle East one of the largest online retailers for health and wellness products. Key...
Oman s Ministry of Health has announced that work is currently underway on 11 new hospitals in various governorates across the sultanate. Of this the biggest healthcare facility Al Suwaiq Hospital is coming up in North Al Batinah Governorate (with a capacity of 307 beds) which is expected to be completed next year reported Oman News Agency (ONA). The other big projects such as the new Sultan Qaboos Hospital in Salalah Dhofar Governorate will be completed in 2025 stated the report citing a senior ministry official. The new Khasab Hospital in Musandam Governorate (164 beds) is likely to open next year said Jamal Salim Al Shanfari Director General of Projects and Engineering Affairs at the Ministry of Health. Also the upgradation of the Mad ha Health Centre in Musandam Governorate is underway which on completion will make it a full-fledged hospital revealed Al Shanfari adding that i...
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Oman s Ministry of Health has announced that work is currently underway on 11 new hospitals in various governorates across the sultanate. Of this the biggest healthcare facility Al Suwaiq Hospital is coming up in North Al Batinah Governorate (with a capacity of 307 beds) which is expected to be completed next year reported Oman News Agency (ONA). The other big projects such as the new Sultan Qaboos Hospital in Salalah Dhofar Governorate will be completed in 2025 stated the report citing a senior ministry official. The new Khasab Hospital in Musandam Governorate (164 beds) is likely to open next year said Jamal Salim Al Shanfari Director General of Projects and Engineering Affairs at the Ministry of Health. Also the upgradation of the Mad ha Health Centre in Musandam Governorate is underway which on completion will make it a full-fledged hospital revealed Al Shanfari adding that i...
Trukkin a leading techno-logistics company based in the Middle East has signed an exclusive shipping partnership with P&E Auctions a division of Plant & Equipment to facilitate all onshore movements of heavy equipment and machinery sold via its online auction platform - PlantAndEquipment.com. Co-founded by Zayd Kuba and Saleh Kuba the e-auction unit has established itself as a trusted platform that connects buyers and sellers of heavy machinery trucks and equipment with over 100 000 listings and a wide selection of top brands of new and used equipment. According to Trukkin the platform is now expanding into live online auctions to cater the demand from the Middle East region. We are excited to partner with Plant & Equipment to be their exclusive shipping partner within the Gulf region. Our extensive network of carriers will enable us to provide buye...
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Trukkin a leading techno-logistics company based in the Middle East has signed an exclusive shipping partnership with P&E Auctions a division of Plant & Equipment to facilitate all onshore movements of heavy equipment and machinery sold via its online auction platform - PlantAndEquipment.com. Co-founded by Zayd Kuba and Saleh Kuba the e-auction unit has established itself as a trusted platform that connects buyers and sellers of heavy machinery trucks and equipment with over 100 000 listings and a wide selection of top brands of new and used equipment. According to Trukkin the platform is now expanding into live online auctions to cater the demand from the Middle East region. We are excited to partner with Plant & Equipment to be their exclusive shipping partner within the Gulf region. Our extensive network of carriers will enable us to provide buye...
Rasmala Investment Bank Limited a leading alternative investment manager in the Middle East has announced the launch of a five-year UK multifamily strategy to create a portfolio of residential properties in the UK worth more than 2 billion in investment value. The strategy targets the UK multifamily market through a shariah-compliant investment vehicle with an initial focus on the serviced apartment and build-to-rent (BTR) subsectors in and around London. It has been seeded by the Rasmala Group and has an active investment pipeline over the next 12-18 months. In addition to two residential apartment blocks the strategy benefits from a controlling stake in Red Apartments Limited (RAL) a leading operator managing nearly 500 residential units in and around London. RAL is led by an experienced management team with a twenty-five year track record in managing serviced apartments. /...
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Rasmala Investment Bank Limited a leading alternative investment manager in the Middle East has announced the launch of a five-year UK multifamily strategy to create a portfolio of residential properties in the UK worth more than 2 billion in investment value. The strategy targets the UK multifamily market through a shariah-compliant investment vehicle with an initial focus on the serviced apartment and build-to-rent (BTR) subsectors in and around London. It has been seeded by the Rasmala Group and has an active investment pipeline over the next 12-18 months. In addition to two residential apartment blocks the strategy benefits from a controlling stake in Red Apartments Limited (RAL) a leading operator managing nearly 500 residential units in and around London. RAL is led by an experienced management team with a twenty-five year track record in managing serviced apartments. /...
The 31st edition of SaMoTer the triennial international construction machinery exhibition kicks off tomorrow (May 3) at Veronafiere with 536 companies from 23 countries taking part showcasing their products and solutions in six show halls and 3 outdoor areas (specifically for displays and dynamic tests) before 106 top buyers from 32 countries selected and invited in collaboration with ICE-Trade Agency. To be held until May 7 SaMoTer is the only event in Italy highlighting the construction machinery supply chain as a whole and is the main landmark in Europe for 2023. The event will also be witness to 80 conferences and workshops covering a range of market and technical topics. The event is being held in conjunction with Asphaltica the show highlighting road paving safety and road infrastructure technologies and solutions promoted together with SITEB - Strade Italiane e Bitumi. &nb...
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The 31st edition of SaMoTer the triennial international construction machinery exhibition kicks off tomorrow (May 3) at Veronafiere with 536 companies from 23 countries taking part showcasing their products and solutions in six show halls and 3 outdoor areas (specifically for displays and dynamic tests) before 106 top buyers from 32 countries selected and invited in collaboration with ICE-Trade Agency. To be held until May 7 SaMoTer is the only event in Italy highlighting the construction machinery supply chain as a whole and is the main landmark in Europe for 2023. The event will also be witness to 80 conferences and workshops covering a range of market and technical topics. The event is being held in conjunction with Asphaltica the show highlighting road paving safety and road infrastructure technologies and solutions promoted together with SITEB - Strade Italiane e Bitumi. &nb...
The construction sector continued its ascension during 2022 as the value of awarded contracts returned to pre-pandemic levels according to a report by the US-Saudi Business Council (USSBC). The value of awarded contracts during the fourth quarter surged to SR71.5 billion ( 19.1 billion) accounting for 37% of this year s awards stated the report. According to the Council this marked the highest value of awarded contracts in a quarter in nearly seven years when the value surged to hit SR88.1 billion ( 23.6 billion) for the first quarter of 2015. The remarkable growth during Q4 brings the total value of awarded contracts in 2022 to SR192.4 billion ( 51.3 billion) thus reflecting a 35% increase over 2021. The USSBC Contract Awards Index (CAI) climbed to 241.71 points in Q4 ending the year above the 200-point mark in 11 out of the ...
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The construction sector continued its ascension during 2022 as the value of awarded contracts returned to pre-pandemic levels according to a report by the US-Saudi Business Council (USSBC). The value of awarded contracts during the fourth quarter surged to SR71.5 billion ( 19.1 billion) accounting for 37% of this year s awards stated the report. According to the Council this marked the highest value of awarded contracts in a quarter in nearly seven years when the value surged to hit SR88.1 billion ( 23.6 billion) for the first quarter of 2015. The remarkable growth during Q4 brings the total value of awarded contracts in 2022 to SR192.4 billion ( 51.3 billion) thus reflecting a 35% increase over 2021. The USSBC Contract Awards Index (CAI) climbed to 241.71 points in Q4 ending the year above the 200-point mark in 11 out of the ...
Leading government entities renowned real estate developers and financial experts will be in Jeddah for the Saudi Real Estate Development and Ownership Exhibition (Seredo 2023) which kicks off on May 28. A four-day event Seredo is being organised by Aalyalshan Company at the Jeddah Centre for Forums and Events. It is expected to attract over 15 000 visitors with an interest in purchasing or promoting real estate. The upcoming event will see experts take part in insightful panel discussions and engaging workshops to uncover the latest real estate trends and innovative development strategies in addition to specialized training courses. Abdulrahman Alzahrani the General Manager of Aalyalshan Company said the company s goal is to present an effective real estate exhibition that contributes to the development and advancement of the Saudi real estate market. &...
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Leading government entities renowned real estate developers and financial experts will be in Jeddah for the Saudi Real Estate Development and Ownership Exhibition (Seredo 2023) which kicks off on May 28. A four-day event Seredo is being organised by Aalyalshan Company at the Jeddah Centre for Forums and Events. It is expected to attract over 15 000 visitors with an interest in purchasing or promoting real estate. The upcoming event will see experts take part in insightful panel discussions and engaging workshops to uncover the latest real estate trends and innovative development strategies in addition to specialized training courses. Abdulrahman Alzahrani the General Manager of Aalyalshan Company said the company s goal is to present an effective real estate exhibition that contributes to the development and advancement of the Saudi real estate market. &...
Qatar s logistics leader GWC Group has appointed Madhu Vallur to spearhead its energy division in a move which reinforces long-term commitment to the Energy Sector signalling expansion plans. Vallur who will be GWC as Executive Director (ED) for its Energy Division will provide strategic leadership setting new standards in integrated shipping logistics and marine services. He will work closely with stakeholders including partners customers and regulatory agencies to ensure efficient and sustainable movement of the energy supply chain. Vallur will also provide expertise in leveraging technology and innovation to optimise operational efficiency while supporting GWC s drive to set new benchmarks in the industry. Energy logistics services expansion Ranjeev Menon Group CEO GWC Group said:...
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Qatar s logistics leader GWC Group has appointed Madhu Vallur to spearhead its energy division in a move which reinforces long-term commitment to the Energy Sector signalling expansion plans. Vallur who will be GWC as Executive Director (ED) for its Energy Division will provide strategic leadership setting new standards in integrated shipping logistics and marine services. He will work closely with stakeholders including partners customers and regulatory agencies to ensure efficient and sustainable movement of the energy supply chain. Vallur will also provide expertise in leveraging technology and innovation to optimise operational efficiency while supporting GWC s drive to set new benchmarks in the industry. Energy logistics services expansion Ranjeev Menon Group CEO GWC Group said:...
GWC Qatar s leading logistics provider has posted net profits of QR61.5 million ( 17 million) for the first quarter of 2023. The company s gross revenues registered QR412.7 million earnings per share of QR0.105 and total assets of QR4.8 billion for the same period. GWC will continue to remain committed to diversifying our offerings with the aim of further strengthening Qatar s position as a global and regional logistics hub said Sheikh Abdullah Bin Fahad Bin Jassim Bin Jaber Al Thani Chairman GWC. Expanding footprint Ranjeev Menon Group CEO said: We are optimistic about the future and will be expanding GWC s footprint in the region this year by offering innovative and specialised end-to-end logistics solutions. We ar...
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GWC Qatar s leading logistics provider has posted net profits of QR61.5 million ( 17 million) for the first quarter of 2023. The company s gross revenues registered QR412.7 million earnings per share of QR0.105 and total assets of QR4.8 billion for the same period. GWC will continue to remain committed to diversifying our offerings with the aim of further strengthening Qatar s position as a global and regional logistics hub said Sheikh Abdullah Bin Fahad Bin Jassim Bin Jaber Al Thani Chairman GWC. Expanding footprint Ranjeev Menon Group CEO said: We are optimistic about the future and will be expanding GWC s footprint in the region this year by offering innovative and specialised end-to-end logistics solutions. We ar...
Spanish infrastructure major Acciona has signed an agreement with Ørsted a global renewable energy company and leader in offshore wind to jointly develop solutions to address the challenge of manufacturing large-scale foundations for offshore wind farms across the globe. Acciona said the deal which was inked through its infrastructure division also includes the development of foundation models that will offer easily adaptable solutions for offshore wind turbines of different sizes and depths. As per the deal Ørsted and Acciona will evaluate mass-producing cost-competitive construction solutions based on floating concrete platforms and also explore the use of materials such as bio-cement and bio-concrete. The alliance combines Ørsted s 30-year experience in the development of offshore wind energy projects with the Acciona Infrastructure division&#...
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Spanish infrastructure major Acciona has signed an agreement with Ørsted a global renewable energy company and leader in offshore wind to jointly develop solutions to address the challenge of manufacturing large-scale foundations for offshore wind farms across the globe. Acciona said the deal which was inked through its infrastructure division also includes the development of foundation models that will offer easily adaptable solutions for offshore wind turbines of different sizes and depths. As per the deal Ørsted and Acciona will evaluate mass-producing cost-competitive construction solutions based on floating concrete platforms and also explore the use of materials such as bio-cement and bio-concrete. The alliance combines Ørsted s 30-year experience in the development of offshore wind energy projects with the Acciona Infrastructure division&#...
The Kingdom of Saudi Arabia has achieved a major milestone by jumping 17 places in the Logistics Performance Index (LPI) issued by the World Bank. Among 160 countries the kingdom has advanced to the rank 38th in the World Bank s Logistics Performance Index after achieving wide leaps in performance efficiency through several sub-indicators most notably the indexes of logistics competence and quality tracking and tracing timeliness customs infrastructure and international shipments. Lauding the achievement Minister of Transport and Logistics Engineer Saleh bin Nasser Al Jasser said this milestone could be achieved only due to the support and empowerment of His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud the Crown Prince and Prime Minister. He also highlighted the ambitious goals of the National Transport and Logistics Strategy which Prince Mohammed b...
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The Kingdom of Saudi Arabia has achieved a major milestone by jumping 17 places in the Logistics Performance Index (LPI) issued by the World Bank. Among 160 countries the kingdom has advanced to the rank 38th in the World Bank s Logistics Performance Index after achieving wide leaps in performance efficiency through several sub-indicators most notably the indexes of logistics competence and quality tracking and tracing timeliness customs infrastructure and international shipments. Lauding the achievement Minister of Transport and Logistics Engineer Saleh bin Nasser Al Jasser said this milestone could be achieved only due to the support and empowerment of His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud the Crown Prince and Prime Minister. He also highlighted the ambitious goals of the National Transport and Logistics Strategy which Prince Mohammed b...
Lhyfe have announced that construction is starting on the Lhyfe Occitanie production facility in Bessières (Haute-Garonne) France. The plant which should be operational by the end of 2023 is one of the levers of the Occitanie region for achieving the goals of its Occitanie H2 Corridor project aimed at decarbonising goods and passenger transport. Following two first sites in Pays de la Loire (Bouin Vendée) and in Brittany (Buléon Morbihan) Lhyfe s third production site will be in Occitanie. The Lhyfe Occitanie site is funded 80 per cent by Lhyfe and 20 per cent by AREC Occitanie. The plant will be located in the Triangle business park in Bessières 40 kilometres from Toulouse on aproximately 8 000 sq. metres of land. The construction works have just commenced and commissioning is due in December 2023. The Lhyfe Occitanie site will have the c...
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Lhyfe have announced that construction is starting on the Lhyfe Occitanie production facility in Bessières (Haute-Garonne) France. The plant which should be operational by the end of 2023 is one of the levers of the Occitanie region for achieving the goals of its Occitanie H2 Corridor project aimed at decarbonising goods and passenger transport. Following two first sites in Pays de la Loire (Bouin Vendée) and in Brittany (Buléon Morbihan) Lhyfe s third production site will be in Occitanie. The Lhyfe Occitanie site is funded 80 per cent by Lhyfe and 20 per cent by AREC Occitanie. The plant will be located in the Triangle business park in Bessières 40 kilometres from Toulouse on aproximately 8 000 sq. metres of land. The construction works have just commenced and commissioning is due in December 2023. The Lhyfe Occitanie site will have the c...
The global construction equipment rental market is forecast to register its name in the billion-dollar fraternity down the line of seven years by exceeding a revenue of 225 billion by 2032 with a projected CAGR of 4% over 2023-2032 according to a report by Global Market Insights. The market growth is mainly driven by the rising demand for tech innovations in construction equipment for implementing the latest smart city technologies such as Internet of Things Artificial Intelligence and Machine Learning and electromobility into infrastructures stated the report by the key market research and consulting firm. Besides increasing mining and construction initiatives in Latin America are driving the adoption of construction equipment. Organizations in this industry lease out or rent construction equipment such as cranes scaffolding crane lorries work platforms graders b...
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The global construction equipment rental market is forecast to register its name in the billion-dollar fraternity down the line of seven years by exceeding a revenue of 225 billion by 2032 with a projected CAGR of 4% over 2023-2032 according to a report by Global Market Insights. The market growth is mainly driven by the rising demand for tech innovations in construction equipment for implementing the latest smart city technologies such as Internet of Things Artificial Intelligence and Machine Learning and electromobility into infrastructures stated the report by the key market research and consulting firm. Besides increasing mining and construction initiatives in Latin America are driving the adoption of construction equipment. Organizations in this industry lease out or rent construction equipment such as cranes scaffolding crane lorries work platforms graders b...
Bahrain has announced that the real estate transactions during the first quarter of 2023 hit BD243 million ( 641 million) down 17% when compared to last year reported BNA citing the kingdom s Survey & Land Registration Bureau. However the number of sales transactions for Q1 surged to 7 260 thus registering a 17% growth over last year it added. The kingdom s real estate sector had last year recorded solid growth marking its post-pandemic recovery. Real estate transactions surged to BD1.08 billion ( 2.85 billion) in Q4 last year up 3.9% over BD1.04 billion ( 2.74 billion) the year before reported the Gulf Daily News our sister publication. The total transactions amounted to 21 603 for 2022 compared to the previous year s figure of 21 444 an increase of around 0.74pc which demon...
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Bahrain has announced that the real estate transactions during the first quarter of 2023 hit BD243 million ( 641 million) down 17% when compared to last year reported BNA citing the kingdom s Survey & Land Registration Bureau. However the number of sales transactions for Q1 surged to 7 260 thus registering a 17% growth over last year it added. The kingdom s real estate sector had last year recorded solid growth marking its post-pandemic recovery. Real estate transactions surged to BD1.08 billion ( 2.85 billion) in Q4 last year up 3.9% over BD1.04 billion ( 2.74 billion) the year before reported the Gulf Daily News our sister publication. The total transactions amounted to 21 603 for 2022 compared to the previous year s figure of 21 444 an increase of around 0.74pc which demon...
Dubai-based Property Finder has announced the launch of SheForShe Empowered by Property Finder a bespoke one-of-a-kind programme to champion gender equality in the UAE real estate market. Free for all aspiring female real estate professionals the initiative brings together a diverse line-up of seasoned female real estate players to build the next generation of women leaders in the industry. According to the Global Gender Gap Report 2022 by the World Economic Forum (WEF) it would take 115 years for the Middle East and North Africa (Mena) region to reach gender parity. Women hired into leadership positions in these countries increased from 33.3% in 2016 to 36.9% in 2022. However progress was slowed during the pandemic with annual hiring rates at 35% in 2019-2020 but increasing to 36% in 2021. In real estate the global perc...
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Dubai-based Property Finder has announced the launch of SheForShe Empowered by Property Finder a bespoke one-of-a-kind programme to champion gender equality in the UAE real estate market. Free for all aspiring female real estate professionals the initiative brings together a diverse line-up of seasoned female real estate players to build the next generation of women leaders in the industry. According to the Global Gender Gap Report 2022 by the World Economic Forum (WEF) it would take 115 years for the Middle East and North Africa (Mena) region to reach gender parity. Women hired into leadership positions in these countries increased from 33.3% in 2016 to 36.9% in 2022. However progress was slowed during the pandemic with annual hiring rates at 35% in 2019-2020 but increasing to 36% in 2021. In real estate the global perc...
Elaf Group a pioneer in the hospitality sector has signed an MoU with Kinan International Real Estate Development for the management as well supervision of the design work for an upcoming hotel project within the Aliat Mall in Madinah for 15 years. With six residential projects in Riyadh and Jeddah on an area of over 6 million sq m Kinan International Real Estate Development Company is one of the top Saudi-based companies in the field of developing and management residential communities and malls in Saudi Arabia. It also operates 10 commercial centres across six different cities in Saudi Arabia. The mall also includes an area of modern retail stores restaurants and a cinema in addition to the hotel said the statement from Elaf Group. The agreement worth AED220 million ( 60 million) is for the implementation of 230 rooms and s...
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Elaf Group a pioneer in the hospitality sector has signed an MoU with Kinan International Real Estate Development for the management as well supervision of the design work for an upcoming hotel project within the Aliat Mall in Madinah for 15 years. With six residential projects in Riyadh and Jeddah on an area of over 6 million sq m Kinan International Real Estate Development Company is one of the top Saudi-based companies in the field of developing and management residential communities and malls in Saudi Arabia. It also operates 10 commercial centres across six different cities in Saudi Arabia. The mall also includes an area of modern retail stores restaurants and a cinema in addition to the hotel said the statement from Elaf Group. The agreement worth AED220 million ( 60 million) is for the implementation of 230 rooms and s...
Abu Dhabi-based ThinkProp Real Estate Training Institute has announced that its courses and certificates have received global accreditation from both the International Real Estate Federation (FIABCI) a world-class real estate organisation devoted to all real estate specialties and activities and International Accreditation Organisation (IAO) the international quality assurance agency. Launched by the Advanced Real Estate Services (ADRES) the institute provides real estate training courses recognised by the UAE-government for individuals and companies in the region. With this accreditation ThinkProp will have the opportunity to nominate a representative to become a member in FIABCI Emirates the UAE chapter of the organisation in order to facilitate the exchange of knowledge and expertise. In addition FIABCI will provide ThinkProp Institute s alumni with a discoun...
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Abu Dhabi-based ThinkProp Real Estate Training Institute has announced that its courses and certificates have received global accreditation from both the International Real Estate Federation (FIABCI) a world-class real estate organisation devoted to all real estate specialties and activities and International Accreditation Organisation (IAO) the international quality assurance agency. Launched by the Advanced Real Estate Services (ADRES) the institute provides real estate training courses recognised by the UAE-government for individuals and companies in the region. With this accreditation ThinkProp will have the opportunity to nominate a representative to become a member in FIABCI Emirates the UAE chapter of the organisation in order to facilitate the exchange of knowledge and expertise. In addition FIABCI will provide ThinkProp Institute s alumni with a discoun...
Saudi Arabia will be hosting the 42nd edition of the Global Real Estate Summit (42nd FIABCI Global Leadership Summit) next December in Riyadh. The summit said to be the industry s largest annual gathering will bring together real estate pioneers and CEOs of critical real estate companies from all over the globe to the Saudi capital. The event will see them showcase their expertise in real estate sector as well as discuss key industry issues. Also the participants will be taken on a tour to some of the most prominent real estate projects in the kingdom. The selection of KSA as the summit venue comes following the World Real Estate Federation meeting in Cannes France held last month on the sidelines of the international real estate event MIPIM. FIABCI Global Leadership Summit will be witness to several sessions workshop...
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Saudi Arabia will be hosting the 42nd edition of the Global Real Estate Summit (42nd FIABCI Global Leadership Summit) next December in Riyadh. The summit said to be the industry s largest annual gathering will bring together real estate pioneers and CEOs of critical real estate companies from all over the globe to the Saudi capital. The event will see them showcase their expertise in real estate sector as well as discuss key industry issues. Also the participants will be taken on a tour to some of the most prominent real estate projects in the kingdom. The selection of KSA as the summit venue comes following the World Real Estate Federation meeting in Cannes France held last month on the sidelines of the international real estate event MIPIM. FIABCI Global Leadership Summit will be witness to several sessions workshop...
DP World has invested more than 10 billion in the global logistics sector since 2012 making it one of the top five overseas investors in this period according to the latest foreign direct investment (FDI) data released by leading industry consultants. The FT s FDI Intelligence recently published its top five list for 2022 which ranks DP World fifth in the world by total value of direct investments allocated to the overseas logistics services sector. DP World s investments over the past year totalled 320 million despite demand for logistics services stalling as the global economy slowed. 2023 forecasts expect single-digit demand growth in the industry. Other firms in the top five include US giant Amazon and AP Moller Maersk from Denmark. DP World is the only firm in the top five based outside the US or Europe. Commenting on the ranking...
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DP World has invested more than 10 billion in the global logistics sector since 2012 making it one of the top five overseas investors in this period according to the latest foreign direct investment (FDI) data released by leading industry consultants. The FT s FDI Intelligence recently published its top five list for 2022 which ranks DP World fifth in the world by total value of direct investments allocated to the overseas logistics services sector. DP World s investments over the past year totalled 320 million despite demand for logistics services stalling as the global economy slowed. 2023 forecasts expect single-digit demand growth in the industry. Other firms in the top five include US giant Amazon and AP Moller Maersk from Denmark. DP World is the only firm in the top five based outside the US or Europe. Commenting on the ranking...
The construction industry is making great strides by leveraging AI technologies such as machine learning and robotics among others. However the industry lags behind in data security and privacy initiatives compared to others according to an expert. These new technologies still require data security and privacy risk assessments and proper controls in place something that may be a second thought for those in the construction industry said Shijas Mohidheen the Director of Cybersecurity at Hilal Computers. Hilal Computers is a legally authorised and approved vendor that provides cyber security consultancy governance and cyber technologies in the Kingdom of Saudi Arabia. Cybercriminals have become more sophisticated when attacking the construction industry a key sector that is growing rapidly by adopting new technologies and going digital. This sensitive...
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The construction industry is making great strides by leveraging AI technologies such as machine learning and robotics among others. However the industry lags behind in data security and privacy initiatives compared to others according to an expert. These new technologies still require data security and privacy risk assessments and proper controls in place something that may be a second thought for those in the construction industry said Shijas Mohidheen the Director of Cybersecurity at Hilal Computers. Hilal Computers is a legally authorised and approved vendor that provides cyber security consultancy governance and cyber technologies in the Kingdom of Saudi Arabia. Cybercriminals have become more sophisticated when attacking the construction industry a key sector that is growing rapidly by adopting new technologies and going digital. This sensitive...
Aramco one of the world s leading integrated energy and chemicals companies and international contract logistics provider DHL Supply Chain have announced plans to set up a new end-to-end Procurement and Logistics Hub joint venture. The two companies have signed a shareholders agreement for the hub in Saudi Arabia which will enhance supply chain efficiency and sustainability. It would be the region s first such hub catering to customers in the industrial energy chemical and petrochemical sectors said a statement. The joint venture aims to be operational in 2025 and provide reliable end-to-end integrated procurement and supply chain services for companies across the industrial energy chemical and petrochemical sectors. The joint venture will initially focus on Saudi Arabia with aspirations to expand across the M...
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Aramco one of the world s leading integrated energy and chemicals companies and international contract logistics provider DHL Supply Chain have announced plans to set up a new end-to-end Procurement and Logistics Hub joint venture. The two companies have signed a shareholders agreement for the hub in Saudi Arabia which will enhance supply chain efficiency and sustainability. It would be the region s first such hub catering to customers in the industrial energy chemical and petrochemical sectors said a statement. The joint venture aims to be operational in 2025 and provide reliable end-to-end integrated procurement and supply chain services for companies across the industrial energy chemical and petrochemical sectors. The joint venture will initially focus on Saudi Arabia with aspirations to expand across the M...
Saudi Real Estate Refinance Company (SRC) a unit of the kingdom s sovereign wealth fund PIF (Public Investment Fund) has signed a portfolio purchase agreement with Alrajhi the world s largest Islamic bank by mortgage assets and market cap to refinance over SR5 billion ( 1.3 billion) real estate financing portfolio. The deal is the largest of its kind signed in the Saudi banking industry thus reflecting the ongoing efforts by SRC to actively support further development in the residential real estate finance sector by expanding its refinancing portfolio and solutions to create a stable secondary real estate market in the kingdom. It was signed by the group s CEO Fabrice Susini and Alrajhi Bank CEO Waleed Abdullah Almogbel in the presence of Majid bin Abdullah Al Hogail the Minister of Municipal and Rural Affairs and Housing. This is the latest agreement in a series of similarly ...
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Saudi Real Estate Refinance Company (SRC) a unit of the kingdom s sovereign wealth fund PIF (Public Investment Fund) has signed a portfolio purchase agreement with Alrajhi the world s largest Islamic bank by mortgage assets and market cap to refinance over SR5 billion ( 1.3 billion) real estate financing portfolio. The deal is the largest of its kind signed in the Saudi banking industry thus reflecting the ongoing efforts by SRC to actively support further development in the residential real estate finance sector by expanding its refinancing portfolio and solutions to create a stable secondary real estate market in the kingdom. It was signed by the group s CEO Fabrice Susini and Alrajhi Bank CEO Waleed Abdullah Almogbel in the presence of Majid bin Abdullah Al Hogail the Minister of Municipal and Rural Affairs and Housing. This is the latest agreement in a series of similarly ...
Renowned multidisciplinary engineering and operations company Egis has launched a line of leading architecture practices to address the challenges of urbanisation and climate change. At MIPIM the leading international real estate event in France Laurent Germain CEO of Egis officiated the launch of the new architecture line bringing together leading architecture and design firms 10 Design Weston Williamson Partners SB Architects and U A to work alongside Egis engineers to transform their vision into reality. The Architecture Line has been established to facilitate creative synergy and collaboration across sectors to provide a holistic approach to urban design architecture and engineering. New offices Egis recently opened new offices in London UK which are shared workplaces for collaboration and desi...
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Renowned multidisciplinary engineering and operations company Egis has launched a line of leading architecture practices to address the challenges of urbanisation and climate change. At MIPIM the leading international real estate event in France Laurent Germain CEO of Egis officiated the launch of the new architecture line bringing together leading architecture and design firms 10 Design Weston Williamson Partners SB Architects and U A to work alongside Egis engineers to transform their vision into reality. The Architecture Line has been established to facilitate creative synergy and collaboration across sectors to provide a holistic approach to urban design architecture and engineering. New offices Egis recently opened new offices in London UK which are shared workplaces for collaboration and desi...
Sedco Capital a global shariah-compliant and ESG-led asset management and investment advisory firm said it has successfully exited its capital built-to-suit real estate fund delivering a 41% net return on invested capital. The Fund commenced operations in mid-2018 acquiring two education- zoned plots - in Jeddah s Al-Shati District - to develop two educational campuses (on a Built-To-Suit basis) for girls and boys to be operated by Al-Yusr International School Company. Following growing market interest in acquiring the properties the Fund s board approved its divestment in line with the exit strategy. Sedco Capital said it will subsequently liquidate the fund as planned after completing regulatory legal and administrative proceedings. Post liquidation the Fund is expected to achieve a net internal rate of return (net IRR) of 8.25% ...
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Sedco Capital a global shariah-compliant and ESG-led asset management and investment advisory firm said it has successfully exited its capital built-to-suit real estate fund delivering a 41% net return on invested capital. The Fund commenced operations in mid-2018 acquiring two education- zoned plots - in Jeddah s Al-Shati District - to develop two educational campuses (on a Built-To-Suit basis) for girls and boys to be operated by Al-Yusr International School Company. Following growing market interest in acquiring the properties the Fund s board approved its divestment in line with the exit strategy. Sedco Capital said it will subsequently liquidate the fund as planned after completing regulatory legal and administrative proceedings. Post liquidation the Fund is expected to achieve a net internal rate of return (net IRR) of 8.25% ...
UAE s AD Ports Group and Uzbekistan s SEG Enera Group have formed a joint venture (JV) ADL-Ulanish that will provide end-to-end global logistics services across the Republic of Uzbekistan. To the JV AD Ports Group will bring its cutting-edge expertise in global supply chain logistics and advanced technology to the new company with the goal of addressing some of the logistics challenges faced by enterprises in Uzbekistan which is a double-landlocked nation surrounded by five additional landlocked nations. SEG Enera Group will in turn contribute its regional expertise best practices and industrial assets including warehousing capacity alongside rail and trucking fleets. Business needs Through the joint venture the two entities will serve not only SEG Enera s business needs but ...
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UAE s AD Ports Group and Uzbekistan s SEG Enera Group have formed a joint venture (JV) ADL-Ulanish that will provide end-to-end global logistics services across the Republic of Uzbekistan. To the JV AD Ports Group will bring its cutting-edge expertise in global supply chain logistics and advanced technology to the new company with the goal of addressing some of the logistics challenges faced by enterprises in Uzbekistan which is a double-landlocked nation surrounded by five additional landlocked nations. SEG Enera Group will in turn contribute its regional expertise best practices and industrial assets including warehousing capacity alongside rail and trucking fleets. Business needs Through the joint venture the two entities will serve not only SEG Enera s business needs but ...
The Saudi Ports Authority (Mawani) yesterday (February 26) signed an agreement with Jeddah Chamber of Commerce and Industry to set up an integrated logistics park at Al Khumrah in the south of Jeddah at a total cost of SR1 billion ( 266 million). Spread over a 3 sq km area the key facility comprises three zones that include shared warehouses medium-sized storage yards and single warehouses as well as large storage yards and on-demand warehouses. According to Mawani the various zones fulfill importers and exporters requirements of stocking multipurpose cargo chilled and frozen goods food commodities and fragile goods while maintaining the highest standards of safety and efficiency. In addition to this the logistics park will have dedicated areas for administrative commercial and residential use as well as a one-stop services centre it stated. ...
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The Saudi Ports Authority (Mawani) yesterday (February 26) signed an agreement with Jeddah Chamber of Commerce and Industry to set up an integrated logistics park at Al Khumrah in the south of Jeddah at a total cost of SR1 billion ( 266 million). Spread over a 3 sq km area the key facility comprises three zones that include shared warehouses medium-sized storage yards and single warehouses as well as large storage yards and on-demand warehouses. According to Mawani the various zones fulfill importers and exporters requirements of stocking multipurpose cargo chilled and frozen goods food commodities and fragile goods while maintaining the highest standards of safety and efficiency. In addition to this the logistics park will have dedicated areas for administrative commercial and residential use as well as a one-stop services centre it stated. ...
NWTN an eco-conscious mobility technology company developing passenger-centric green premium mobility solutions has announced important progress at two key facilities in Abu Dhabi UAE and Jinhua Zhejiang China. NWTN completed construction of its electric vehicle (EV) assembly facility in Abu Dhabi at the end of 2022 and since then has been in the final phase of installing equipment and conducting trial operations. The facility has now obtained the required EV production and sales licence issued by the UAE government the first to be issued in Abu Dhabi. NWTN is now ready to implement its EV blueprint in the UAE and the Middle East region. At the same time NWTN s first parts and supply chain facility in Jinhua has been undergoing rapid construction since September 2022. At this point most of the workshop infrastructure which includes stamping welding and painti...
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NWTN an eco-conscious mobility technology company developing passenger-centric green premium mobility solutions has announced important progress at two key facilities in Abu Dhabi UAE and Jinhua Zhejiang China. NWTN completed construction of its electric vehicle (EV) assembly facility in Abu Dhabi at the end of 2022 and since then has been in the final phase of installing equipment and conducting trial operations. The facility has now obtained the required EV production and sales licence issued by the UAE government the first to be issued in Abu Dhabi. NWTN is now ready to implement its EV blueprint in the UAE and the Middle East region. At the same time NWTN s first parts and supply chain facility in Jinhua has been undergoing rapid construction since September 2022. At this point most of the workshop infrastructure which includes stamping welding and painti...
The Dubai real estate sector is expected to revive swiftly benefiting from attracting more than 65 000 people who received the golden visa opined real estate expert Walid Al Zarooni CEO of Dubai-based real estate brokerage W Capital. Global research says that Dubai is expected to attract a large share of the citizenship market through global investment which is expected to grow five-fold to 100 billion by 2025. Al Zarooni said that golden card holders are always potential investors for Dubai real estate and each of them may be planning to buy a property for himself and his family. This means huge economic returns on the golden card that result from the activity of multiple sectors such education consumer expenditure and health. He said the goal of the UAE Golden Residency Visa like other types of visas is to attract independent entrepreneurs and business talents to enhance...
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The Dubai real estate sector is expected to revive swiftly benefiting from attracting more than 65 000 people who received the golden visa opined real estate expert Walid Al Zarooni CEO of Dubai-based real estate brokerage W Capital. Global research says that Dubai is expected to attract a large share of the citizenship market through global investment which is expected to grow five-fold to 100 billion by 2025. Al Zarooni said that golden card holders are always potential investors for Dubai real estate and each of them may be planning to buy a property for himself and his family. This means huge economic returns on the golden card that result from the activity of multiple sectors such education consumer expenditure and health. He said the goal of the UAE Golden Residency Visa like other types of visas is to attract independent entrepreneurs and business talents to enhance...
Dubai is all set for the official launch of Estative a first-of-its-kind platform that will reimagine real estate marketing in Dubai and further afield. The Estative platform is set to act as a pivot in the world of real estate marketing via its position as the world s only real estate social media platform combining all social media marketing tools including technical and visual content podcasts and social influencers to enable it to be at the service of the real estate market. The Estative Real Estate Conference and Exhibition of which the launch of the Estative platform is a key part is a major regional industry event that aims to introduce investment opportunities not previously sufficiently highlighted particularly the UAE and Egypt said the company in a statement. The new platform will be unveiled at the two-day Estative Real Estate Ex...
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Dubai is all set for the official launch of Estative a first-of-its-kind platform that will reimagine real estate marketing in Dubai and further afield. The Estative platform is set to act as a pivot in the world of real estate marketing via its position as the world s only real estate social media platform combining all social media marketing tools including technical and visual content podcasts and social influencers to enable it to be at the service of the real estate market. The Estative Real Estate Conference and Exhibition of which the launch of the Estative platform is a key part is a major regional industry event that aims to introduce investment opportunities not previously sufficiently highlighted particularly the UAE and Egypt said the company in a statement. The new platform will be unveiled at the two-day Estative Real Estate Ex...
Buoyed by strong macroeconomic fundamentals the real estate sector in GCC economies is on a solid trajectory to witness acceleration in the first half of the year according to the Real Estate H1 2023 Outlook reports for Kuwait Saudi Arabia and the UAE issued recently by the Kuwait Financial Centre (Markaz). Prepared by Marmore Mena Intelligence the research arm of Markaz and based on the Markaz Real Estate Macro Index which is designed to help investors in identifying the current state of real estate market using a list of economic indicators. For each of the qualitative score a quantitative score was assigned with Strong being assigned a top score of 5 and Poor assigned a value of 1 . A weighted average score is computed based on the Macro-Economic factors. Markaz s annual real e...
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Buoyed by strong macroeconomic fundamentals the real estate sector in GCC economies is on a solid trajectory to witness acceleration in the first half of the year according to the Real Estate H1 2023 Outlook reports for Kuwait Saudi Arabia and the UAE issued recently by the Kuwait Financial Centre (Markaz). Prepared by Marmore Mena Intelligence the research arm of Markaz and based on the Markaz Real Estate Macro Index which is designed to help investors in identifying the current state of real estate market using a list of economic indicators. For each of the qualitative score a quantitative score was assigned with Strong being assigned a top score of 5 and Poor assigned a value of 1 . A weighted average score is computed based on the Macro-Economic factors. Markaz s annual real e...
The Big 5 Saudi the largest construction event in the kingdom constitutes an opportunity to reshape the modern construction industry and involve new technology towards implementation of 4th Industrial Revolution (4IR) said Engineer Osama bin Abdulaziz Al Zamil the Deputy Minister of Industry and Mineral Resources. He was speaking after inaugurating the eleventh edition of the Big5 Saudi which has drawn more than 820 companies both locally and internationally from 40 different countries . Over the next three days these firms will showcase the latest innovations and technologies in the construction sector in front of more than 28 000 construction experts. This will play a crucial role to keep up with transformation and open new opportunities for investment in the industry and domestic resources as well as enhancing the position of Saudi Arabia in the industrial s...
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The Big 5 Saudi the largest construction event in the kingdom constitutes an opportunity to reshape the modern construction industry and involve new technology towards implementation of 4th Industrial Revolution (4IR) said Engineer Osama bin Abdulaziz Al Zamil the Deputy Minister of Industry and Mineral Resources. He was speaking after inaugurating the eleventh edition of the Big5 Saudi which has drawn more than 820 companies both locally and internationally from 40 different countries . Over the next three days these firms will showcase the latest innovations and technologies in the construction sector in front of more than 28 000 construction experts. This will play a crucial role to keep up with transformation and open new opportunities for investment in the industry and domestic resources as well as enhancing the position of Saudi Arabia in the industrial s...
P&O Maritime Logistics a leading provider of maritime services globally today (Monday) announced plans to convert one of its Multi-Carrying Vessels (MCVs) into a Cable-Laying Vessel (CLV). Powered by alternative energy the vessel will be the first-of-its-kind within the company s fast-expanding portfolio of specialised offshore products and services a statement said. Set to start operations in the third quarter of 2024 the conversion aligns with P&O Maritime Logistics commitment to decarbonising the industry by progressively moving towards zero-carbon operations. To achieve these ambitious goals the company s newly converted vessel will be equipped with a state-of-the-art battery system as well as a low fuel consumption propulsion layout for green methanol fuel. Supporting P&O Maritime Logistics global expansion plans and product o...
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P&O Maritime Logistics a leading provider of maritime services globally today (Monday) announced plans to convert one of its Multi-Carrying Vessels (MCVs) into a Cable-Laying Vessel (CLV). Powered by alternative energy the vessel will be the first-of-its-kind within the company s fast-expanding portfolio of specialised offshore products and services a statement said. Set to start operations in the third quarter of 2024 the conversion aligns with P&O Maritime Logistics commitment to decarbonising the industry by progressively moving towards zero-carbon operations. To achieve these ambitious goals the company s newly converted vessel will be equipped with a state-of-the-art battery system as well as a low fuel consumption propulsion layout for green methanol fuel. Supporting P&O Maritime Logistics global expansion plans and product o...
World Logistics Passport (WLP) a Dubai-led global initiative designed to smooth the flow of world trade has signed two MoUs with Thai Logistics Service Provider Federation (TLSPF) and the Thai National Shippers Council (TNSC). The MoUs aim to promote the growth of logistics business for exporters and shippers in Thailand and to enhance trade opportunities and reduce costs through WLP s global network of international traders and freight forwarders. The signing ceremony was held at Anantara The Palm Dubai Resort and signed by Mahmood Al Bastaki General Manager of World Logistics Passport Suwit Ratanachinda President of the Thai Logistics Service Provider Federation and Dr Chaichan Chareonsuk Chairman of the Thai National Shippers Council. It was attended by Jurin Laksanawisit Deputy Prime Minister of Thailand and Minister of Commerce and Sultan Ahmed Bin Sulayem Chairman of Dubai...
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World Logistics Passport (WLP) a Dubai-led global initiative designed to smooth the flow of world trade has signed two MoUs with Thai Logistics Service Provider Federation (TLSPF) and the Thai National Shippers Council (TNSC). The MoUs aim to promote the growth of logistics business for exporters and shippers in Thailand and to enhance trade opportunities and reduce costs through WLP s global network of international traders and freight forwarders. The signing ceremony was held at Anantara The Palm Dubai Resort and signed by Mahmood Al Bastaki General Manager of World Logistics Passport Suwit Ratanachinda President of the Thai Logistics Service Provider Federation and Dr Chaichan Chareonsuk Chairman of the Thai National Shippers Council. It was attended by Jurin Laksanawisit Deputy Prime Minister of Thailand and Minister of Commerce and Sultan Ahmed Bin Sulayem Chairman of Dubai...
The Saudi Ports Authority (Mawani) and global freight major Maersk have announced the ground breaking of the company s biggest comprehensive logistics zone in the Middle East at the Jeddah Islamic port. The logistics park which will come up on a 225 000 sq m area is being built at a total investment of SR1.3 billion ( 346 million) said Mawani in its statement. This is one of the key initiatives launched by Mawani with the aim of developing and providing investment opportunities in logistics zones for the private sector and increasing the number of logistics zones that deal with re-exports to 30 by 2030 in line with the goals of the National Transport and Logistics Strategy to enhance the Kingdom s position as a global logistics center and a hub for three continents. The facility offers several logistics solutions that connect and facilitate the movement of supply chain...
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The Saudi Ports Authority (Mawani) and global freight major Maersk have announced the ground breaking of the company s biggest comprehensive logistics zone in the Middle East at the Jeddah Islamic port. The logistics park which will come up on a 225 000 sq m area is being built at a total investment of SR1.3 billion ( 346 million) said Mawani in its statement. This is one of the key initiatives launched by Mawani with the aim of developing and providing investment opportunities in logistics zones for the private sector and increasing the number of logistics zones that deal with re-exports to 30 by 2030 in line with the goals of the National Transport and Logistics Strategy to enhance the Kingdom s position as a global logistics center and a hub for three continents. The facility offers several logistics solutions that connect and facilitate the movement of supply chain...
Bahrain s real estate transaction volumes continued to improve throughout the end of 2022 reaching 5 659 transactions in Q4 and ending the year with a total of 21 603 on the back of strong GDP growth high oil prices and new fiscal reforms according to global real estate consulting firm CBRE. This marks a full-year increase of 0.7% year-on-year compared to 2021 and a jump of 3.2% from Q3 stated CBRE in its Bahrain Real Estate Market Review Q4 2022. On the residential sector CBRE said Bahrain has seen the launch of the latest government-led housing programme which will provide 19 000 affordable housing units at a total value of BD1 billion ( 2.63 billion). The launch of the first phase includes 771 units (both villas and apartments) in Salman Town and Khalifa Town. A number of new projects were also introduced at ...
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Bahrain s real estate transaction volumes continued to improve throughout the end of 2022 reaching 5 659 transactions in Q4 and ending the year with a total of 21 603 on the back of strong GDP growth high oil prices and new fiscal reforms according to global real estate consulting firm CBRE. This marks a full-year increase of 0.7% year-on-year compared to 2021 and a jump of 3.2% from Q3 stated CBRE in its Bahrain Real Estate Market Review Q4 2022. On the residential sector CBRE said Bahrain has seen the launch of the latest government-led housing programme which will provide 19 000 affordable housing units at a total value of BD1 billion ( 2.63 billion). The launch of the first phase includes 771 units (both villas and apartments) in Salman Town and Khalifa Town. A number of new projects were also introduced at ...
Saudi sovereign wealth fund PIF (Public Investment Fund) has announced investments worth 1.3 billion in four leading local construction companies by way of subscribing to new shares as part of the capital increases representing significant minority stakes. These are Nesma & Partners Contracting Company ElSeif Engineering Contracting Company AlBawani Holding Company and Almabani General Contractors Company. The investment will contribute to enabling the construction services sector and improving local supply chains for current and future projects in Saudi Arabia as part of further developing the country s construction ecosystem. The four companies in which PIF has invested have built a successful track record in executing and managing complex large-scale projects across multiple sectors in various regions of Saudi Arabia said the company in a statement. di...
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Saudi sovereign wealth fund PIF (Public Investment Fund) has announced investments worth 1.3 billion in four leading local construction companies by way of subscribing to new shares as part of the capital increases representing significant minority stakes. These are Nesma & Partners Contracting Company ElSeif Engineering Contracting Company AlBawani Holding Company and Almabani General Contractors Company. The investment will contribute to enabling the construction services sector and improving local supply chains for current and future projects in Saudi Arabia as part of further developing the country s construction ecosystem. The four companies in which PIF has invested have built a successful track record in executing and managing complex large-scale projects across multiple sectors in various regions of Saudi Arabia said the company in a statement. di...
The real estate markets of Dubai and the Kingdom of Saudi Arabia (KSA) are poised for further growth in 2023 mainly driven by the spurt in residential sales across both geographies according to Deloitte a leading professional services network. In its ninth annual Middle East Real Estate Predictions 2023 report Deloitte provides a positive outlook for 2023 and delves into different real estate segments including hospitality residential retail commercial office space and industrial. Among the key findings the report reveals the recovery post-Covid-19 of tourism in both Dubai and KSA with the key indicators within the hospitality sector being the increase over the past year in occupancy and average daily rates (ADR). It also highlights the growth in residential sales across both geographies as well as the rise in rent prices of commercial office space in Dubai. /d...
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The real estate markets of Dubai and the Kingdom of Saudi Arabia (KSA) are poised for further growth in 2023 mainly driven by the spurt in residential sales across both geographies according to Deloitte a leading professional services network. In its ninth annual Middle East Real Estate Predictions 2023 report Deloitte provides a positive outlook for 2023 and delves into different real estate segments including hospitality residential retail commercial office space and industrial. Among the key findings the report reveals the recovery post-Covid-19 of tourism in both Dubai and KSA with the key indicators within the hospitality sector being the increase over the past year in occupancy and average daily rates (ADR). It also highlights the growth in residential sales across both geographies as well as the rise in rent prices of commercial office space in Dubai. /d...
The World Logistics Passport (WLP) a Dubai-led global initiative designed to smooth the flow of international trade has welcomed the SMME Chamber of Commerce in South Africa to its growing global network. The WLP now has a total of 15 partners in South Africa and more than 200 partners globally. The initiative has made great progress since its launch in 2020 providing support to its network to remove trade barriers unlock multimodal trade and smooth the overall trade journey for traders and facilitate access to emerging markets. The latest agreement was signed at a virtual ceremony by Abdulrahman Bin Haider Head of World Logistics Passport and Noah Debeila President and Chief Entrepreneur Organiser of the SMME Chamber of Commerce. It was signed in the presence of Mahash Saeed Al Hameli UAE Ambassador to South Africa as well as other senior representatives from the UAE Embassy and WLP. ...
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The World Logistics Passport (WLP) a Dubai-led global initiative designed to smooth the flow of international trade has welcomed the SMME Chamber of Commerce in South Africa to its growing global network. The WLP now has a total of 15 partners in South Africa and more than 200 partners globally. The initiative has made great progress since its launch in 2020 providing support to its network to remove trade barriers unlock multimodal trade and smooth the overall trade journey for traders and facilitate access to emerging markets. The latest agreement was signed at a virtual ceremony by Abdulrahman Bin Haider Head of World Logistics Passport and Noah Debeila President and Chief Entrepreneur Organiser of the SMME Chamber of Commerce. It was signed in the presence of Mahash Saeed Al Hameli UAE Ambassador to South Africa as well as other senior representatives from the UAE Embassy and WLP. ...
Saudi Arabia s real estate market has recorded improving key performance indicators in 2022 with its performance almost uniformly improving across its offices hospitality industrial and residential sectors according to leading property expert CBRE. However owing to short supply of quality stock and delay in the handover of new projects the expected results are yet to come stated CBRE in its Saudi Real Estate Market Review Q4 2022. Overall Saudi real estate sectors have recorded fragmented performance across cities and asset classes in 2022 it stated. CBRE said residential transaction volumes fell by 24.5% during 2022 compared to a year earlier. Overall the number of transactions totalled 175 067 netting a value of SR126.5 billon ( 34.4 billion) over the period posting a marginal decline of 3.7% year-on-year it added. On a regional...
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Saudi Arabia s real estate market has recorded improving key performance indicators in 2022 with its performance almost uniformly improving across its offices hospitality industrial and residential sectors according to leading property expert CBRE. However owing to short supply of quality stock and delay in the handover of new projects the expected results are yet to come stated CBRE in its Saudi Real Estate Market Review Q4 2022. Overall Saudi real estate sectors have recorded fragmented performance across cities and asset classes in 2022 it stated. CBRE said residential transaction volumes fell by 24.5% during 2022 compared to a year earlier. Overall the number of transactions totalled 175 067 netting a value of SR126.5 billon ( 34.4 billion) over the period posting a marginal decline of 3.7% year-on-year it added. On a regional...
UAE-based Azizi Developments has announced plans to launch a brokerage academy titled the Azizi Center of Excellence . Through a full calendar of topic-specific workshops Azizi aims to facilitate knowledge transfer and educate channel partners on various matters ranging from construction and engineering all the way to customer service in an effort to further boost professionalism across the industry. The academy is mainly aimed at helping the industry serve local and international investors better by ensuring more complete well-informed and proficient consultations and by dispelling misconceptions and any lack of competence that may stem from inadequate awareness and a deficit in familiarity with the topics that Azizi sees as important and will educate its brokerage partners on said the developer in its statement. Workshops will cover various topic...
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UAE-based Azizi Developments has announced plans to launch a brokerage academy titled the Azizi Center of Excellence . Through a full calendar of topic-specific workshops Azizi aims to facilitate knowledge transfer and educate channel partners on various matters ranging from construction and engineering all the way to customer service in an effort to further boost professionalism across the industry. The academy is mainly aimed at helping the industry serve local and international investors better by ensuring more complete well-informed and proficient consultations and by dispelling misconceptions and any lack of competence that may stem from inadequate awareness and a deficit in familiarity with the topics that Azizi sees as important and will educate its brokerage partners on said the developer in its statement. Workshops will cover various topic...
Dubai is a lucrative market to grow your real estate game. It s a land that crowns true potential. However not before testing you in a variety of ways. Its ever-fluctuating market never fails to challenge the best real estate agents. But this was only one of the challenges Anthony Joseph Abou Jaoude had to overcome to become Dubai s top real estate broker . He shares three ways in which Dubai chiselled and structured his once-misshapen passion. Anthony came to Dubai from Lebanon. He came as a man with a dream without any means to achieve it. This is when real estate found him. It wasn t something he imagined himself doing but never the one to turn his back on a challenge Anthony decided to take a plunge. It didn t take him much to realise that he was a mere salmon in a world of ...
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Dubai is a lucrative market to grow your real estate game. It s a land that crowns true potential. However not before testing you in a variety of ways. Its ever-fluctuating market never fails to challenge the best real estate agents. But this was only one of the challenges Anthony Joseph Abou Jaoude had to overcome to become Dubai s top real estate broker . He shares three ways in which Dubai chiselled and structured his once-misshapen passion. Anthony came to Dubai from Lebanon. He came as a man with a dream without any means to achieve it. This is when real estate found him. It wasn t something he imagined himself doing but never the one to turn his back on a challenge Anthony decided to take a plunge. It didn t take him much to realise that he was a mere salmon in a world of ...
AJEX Logistics Services a Middle East specialist in express distribution and shipping solutions has launched several new services for customers in the UAE in line with its strategic growth plans. AJEX customers in the UAE can now enjoy both domestic and international end-to-end integrated logistics services connecting B2B and B2C customers across the UAE GCC and internationally. AJEX s expansion plans for 2023 in the UAE include opening a fourth facility located in close proximity to Dubai International Airport to support its operations adding a further 50 vehicles to its fleet and 50 staff members by the end of Q1. Expanding fleet By the year s end AJEX plans to expand its fleet to reach 100 vehicles and 140 staff members. AJEX is firmly committed to ensuring a diverse team from the front...
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AJEX Logistics Services a Middle East specialist in express distribution and shipping solutions has launched several new services for customers in the UAE in line with its strategic growth plans. AJEX customers in the UAE can now enjoy both domestic and international end-to-end integrated logistics services connecting B2B and B2C customers across the UAE GCC and internationally. AJEX s expansion plans for 2023 in the UAE include opening a fourth facility located in close proximity to Dubai International Airport to support its operations adding a further 50 vehicles to its fleet and 50 staff members by the end of Q1. Expanding fleet By the year s end AJEX plans to expand its fleet to reach 100 vehicles and 140 staff members. AJEX is firmly committed to ensuring a diverse team from the front...
AD Ports Logistics (ADPL) a provider of integrated end-to-end business solutions has added a new distribution business line which will see the firm secure exclusive distribution rights for a range of healthcare products. The new business line targets the GCC s fast-growing healthcare and life sciences sector whose market size is projected to increase at a CAGR of 4.9% to AED365.7 billion ( 99.6 billion) in 2023 from AED316.6 billion in 2020. As a distributor licensed by the UAE Ministry of Health and Abu Dhabi Department of Health ADPL will procure high-in-demand healthcare products including pharmaceuticals cosmetics medical devices baby products and nutraceuticals from leading manufacturers seeking to access the UAE and GCC markets and manage end-to-end product storage and deliveries to hospitals clinics pharmacies wholesalers and retailers. span ...
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AD Ports Logistics (ADPL) a provider of integrated end-to-end business solutions has added a new distribution business line which will see the firm secure exclusive distribution rights for a range of healthcare products. The new business line targets the GCC s fast-growing healthcare and life sciences sector whose market size is projected to increase at a CAGR of 4.9% to AED365.7 billion ( 99.6 billion) in 2023 from AED316.6 billion in 2020. As a distributor licensed by the UAE Ministry of Health and Abu Dhabi Department of Health ADPL will procure high-in-demand healthcare products including pharmaceuticals cosmetics medical devices baby products and nutraceuticals from leading manufacturers seeking to access the UAE and GCC markets and manage end-to-end product storage and deliveries to hospitals clinics pharmacies wholesalers and retailers. span ...
Bahrain s real estate sector recorded solid growth in 2022 in a major boost to its post-pandemic recovery. Real estate transactions surged to BD1.08 billion ( 2.85 billion) in Q4 last year up 3.9% over BD1.04 billion ( 2.74 billion) the year before reported the Gulf Daily News our sister publication. For further details visit https://www.gdnonline.com ...
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Bahrain s real estate sector recorded solid growth in 2022 in a major boost to its post-pandemic recovery. Real estate transactions surged to BD1.08 billion ( 2.85 billion) in Q4 last year up 3.9% over BD1.04 billion ( 2.74 billion) the year before reported the Gulf Daily News our sister publication. For further details visit https://www.gdnonline.com ...
Despite macroeconomic volatilities impacting the global real estate landscape the UAE has witnessed strong momentum in the last quarter of 2022 signaling a steady growth pipeline in 2023 according to real estate expert JLL. In the same context JLL s UAE 2022 Year in Review report offers a rear-view mirror perspective of 2022 while underlining the opportunities that lie ahead in the year. Residential transaction activity in Dubai continued to grow robustly last year. Data from Dubai Pulse further demonstrates that transaction volumes in the emirate were up 51% between January and November while the value of transactions rose by 55%. Anecdotal evidence suggests that the jump can be largely attributed to the spike in demand from foreign buyers it stated. Faraz Ahmed Associate Research at JLL Mena said: 2022 has been a ye...
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Despite macroeconomic volatilities impacting the global real estate landscape the UAE has witnessed strong momentum in the last quarter of 2022 signaling a steady growth pipeline in 2023 according to real estate expert JLL. In the same context JLL s UAE 2022 Year in Review report offers a rear-view mirror perspective of 2022 while underlining the opportunities that lie ahead in the year. Residential transaction activity in Dubai continued to grow robustly last year. Data from Dubai Pulse further demonstrates that transaction volumes in the emirate were up 51% between January and November while the value of transactions rose by 55%. Anecdotal evidence suggests that the jump can be largely attributed to the spike in demand from foreign buyers it stated. Faraz Ahmed Associate Research at JLL Mena said: 2022 has been a ye...
Group Amana a regional leader in the design-build of industrial and commercial facilities said its construct vertical has completed the work on the third phase of a mega logistics centre in Dubai for DB Schenker a leading German supply chain management group. Announcing the project handover Amana said it had used the offsite construction method to complete the work on the enormous 37 000 sq m of green warehouse space. With this the group s total logistics footprint in Dubai has risen to 84 000 sqm. The new DB Schenker logistics centre which serves as a key distribution hub for the GCC will be running on 100% renewable energy. Amana is at the forefront of disrupting the construction sector making it faster safer greener and smarter by leveraging technology and modular construction methodologies through its subsidiary DuBox said a senior company official. ...
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Group Amana a regional leader in the design-build of industrial and commercial facilities said its construct vertical has completed the work on the third phase of a mega logistics centre in Dubai for DB Schenker a leading German supply chain management group. Announcing the project handover Amana said it had used the offsite construction method to complete the work on the enormous 37 000 sq m of green warehouse space. With this the group s total logistics footprint in Dubai has risen to 84 000 sqm. The new DB Schenker logistics centre which serves as a key distribution hub for the GCC will be running on 100% renewable energy. Amana is at the forefront of disrupting the construction sector making it faster safer greener and smarter by leveraging technology and modular construction methodologies through its subsidiary DuBox said a senior company official. ...
The second edition of the Real Estate Future Forum kicked off today (January 23) in Saudi capital Riyadh featuring more than 150 speakers from both the kingdom and abroad as well as 60 participating pavilions. It was inaugurated by Minister of Municipal and Rural Affairs and Housing Majed bin Abdullah Al Hogail in the presence of Prince Dr Faisal bin Mishaal bin Saud bin Abdulaziz Governor of Al Qassim Region Prince Saud bin Talal bin Badr bin Saud Al Ahsa Governor and several ministers and senior officials reported SPA. The Forum is being held in conjunction with the launch of the real estate brokerage bylaw which is one of the most important enablers for the development and governance of the real estate sector digitizing its operations and serving beneficiaries so that the real estate sector in the kingdom can be vital and attractive and be able to stimulate investment for enjoying reliability a...
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The second edition of the Real Estate Future Forum kicked off today (January 23) in Saudi capital Riyadh featuring more than 150 speakers from both the kingdom and abroad as well as 60 participating pavilions. It was inaugurated by Minister of Municipal and Rural Affairs and Housing Majed bin Abdullah Al Hogail in the presence of Prince Dr Faisal bin Mishaal bin Saud bin Abdulaziz Governor of Al Qassim Region Prince Saud bin Talal bin Badr bin Saud Al Ahsa Governor and several ministers and senior officials reported SPA. The Forum is being held in conjunction with the launch of the real estate brokerage bylaw which is one of the most important enablers for the development and governance of the real estate sector digitizing its operations and serving beneficiaries so that the real estate sector in the kingdom can be vital and attractive and be able to stimulate investment for enjoying reliability a...
Ethiopian Airlines Group (ET) has partnered with MailAmericas (MA) a private postal operator and gold member of the consultive committee for the Universal Postal Union to develop cross border ecommerce services. According to this partnership Ethiopian Airlines will offer air transport service for carrying goods across its wide network while MailAmericas will provide its market expertise and the know how it gained in Latin America and Africa where it has networks in over 40 countries. Ethiopian Group CEO Mesfin Tasew said: As the leading air cargo service provider in Africa we are glad to team up with MailAmericas in launching ecommerce logistics services across Africa and Latin America. So far we have jointly served more than 20 countries in Africa and Latin America and we are keen to further expand our reach going forward. The partnership enables us to serve our customers better by leveraging the expertise bilateral agreements and priv...
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Ethiopian Airlines Group (ET) has partnered with MailAmericas (MA) a private postal operator and gold member of the consultive committee for the Universal Postal Union to develop cross border ecommerce services. According to this partnership Ethiopian Airlines will offer air transport service for carrying goods across its wide network while MailAmericas will provide its market expertise and the know how it gained in Latin America and Africa where it has networks in over 40 countries. Ethiopian Group CEO Mesfin Tasew said: As the leading air cargo service provider in Africa we are glad to team up with MailAmericas in launching ecommerce logistics services across Africa and Latin America. So far we have jointly served more than 20 countries in Africa and Latin America and we are keen to further expand our reach going forward. The partnership enables us to serve our customers better by leveraging the expertise bilateral agreements and priv...
UAE developer Select Group has awarded construction contracts worth over AED3 billion ( 816 million) to China State Construction Engineering Corporation (Middle East) Engineering Contracting Company (ECC Group) iBUILD Construction and Al Basti and Muktha (ABM) for its Six Senses Residences project in Palm Jumeriah Dubai. Spread over 1.2 million sq ft area the Six Senses Residences development comprises penthouses duplex sky villas and nine signature beachfront villas in addition to a Six Senses Hotel and Six Senses Place as well as a 60 000 sq ft premium wellness and leisure facility. With construction well underway excavation works completed and shoring in progress the Six Senses Residences The Palm Dubai project is on track for its scheduled completion next year. Following a record year in development launches and sales Select Group said it has successfully a...
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UAE developer Select Group has awarded construction contracts worth over AED3 billion ( 816 million) to China State Construction Engineering Corporation (Middle East) Engineering Contracting Company (ECC Group) iBUILD Construction and Al Basti and Muktha (ABM) for its Six Senses Residences project in Palm Jumeriah Dubai. Spread over 1.2 million sq ft area the Six Senses Residences development comprises penthouses duplex sky villas and nine signature beachfront villas in addition to a Six Senses Hotel and Six Senses Place as well as a 60 000 sq ft premium wellness and leisure facility. With construction well underway excavation works completed and shoring in progress the Six Senses Residences The Palm Dubai project is on track for its scheduled completion next year. Following a record year in development launches and sales Select Group said it has successfully a...
Leading UAE developer Arada has awarded a major contract to Gulf Asia Contracting Company for the construction of four premium buildings at the Vida Aljada hotel complex within its Aljada megaproject in Sharjah. As per the deal valued at AED475 million ( 129 million) the Dubai-based contractor will be responsible for the construction of the 175-room Vida Aljada hotel as well as 255 branded residences and 149 branded serviced apartments all of which are based in Aljada s cultural district. Work on the Vida Aljada complex will begin immediately and is scheduled to take 30 months said Arada in its statement. Owned and developed by Arada and operated by Vida Hotels & Resorts the Vida Aljada is the first of three Emaar Hospitality properties that will be built at Aljada which include The Address Aljada and Rove Aljada. ...
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Leading UAE developer Arada has awarded a major contract to Gulf Asia Contracting Company for the construction of four premium buildings at the Vida Aljada hotel complex within its Aljada megaproject in Sharjah. As per the deal valued at AED475 million ( 129 million) the Dubai-based contractor will be responsible for the construction of the 175-room Vida Aljada hotel as well as 255 branded residences and 149 branded serviced apartments all of which are based in Aljada s cultural district. Work on the Vida Aljada complex will begin immediately and is scheduled to take 30 months said Arada in its statement. Owned and developed by Arada and operated by Vida Hotels & Resorts the Vida Aljada is the first of three Emaar Hospitality properties that will be built at Aljada which include The Address Aljada and Rove Aljada. ...
Investcorp a leading global alternative investment firm based in Bahrain announced today (January 10) that it is planning to invest up to 1 billion in the real estate market across the GCC over the next five years. The group kicked off its investment spree with its first real estate acquisition in the Kingdom of Saudi Arabia - a brand new state-of-the-art 215 000-sq-ft temperature-controlled warehouse located in Dammam for 100 million. The Dammam warehouse is fully leased to Racking Systems Logistics Services Company (RTL) a third-party logistics company which serves the Saudi market in the temperature-controlled warehousing and distribution segment said a statement from Investcorp. The investment in the Dammam warehouse which can store up to 32 000 pallets of goods will bring the value of Investcorp s global warehousing logistics investments to ...
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Investcorp a leading global alternative investment firm based in Bahrain announced today (January 10) that it is planning to invest up to 1 billion in the real estate market across the GCC over the next five years. The group kicked off its investment spree with its first real estate acquisition in the Kingdom of Saudi Arabia - a brand new state-of-the-art 215 000-sq-ft temperature-controlled warehouse located in Dammam for 100 million. The Dammam warehouse is fully leased to Racking Systems Logistics Services Company (RTL) a third-party logistics company which serves the Saudi market in the temperature-controlled warehousing and distribution segment said a statement from Investcorp. The investment in the Dammam warehouse which can store up to 32 000 pallets of goods will bring the value of Investcorp s global warehousing logistics investments to ...
Seatrade Maritime Logistics Middle East the flagship event of the UAE Maritime Week will put digitalisation in the maritime industry under the spotlight. The conference and exhibition scheduled to be held on May 16 to 18 at the Dubai World Trade Centre is being held under the patronage of the UAE Ministry of Energy and Infrastructure. The event will bring together some of the leading tech-solution providers from all around the world to enlighten the attendees about the benefits of using modern tools and how they can revolutionise the industry. It will serve as the ideal platform to find solutions for operational challenges environmental issues and ever-increasing functional costs. Shaping the future of classification societies ABS is well positioned and continues to make the right investments in people systems and technologies to drive and shape the future of C...
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Seatrade Maritime Logistics Middle East the flagship event of the UAE Maritime Week will put digitalisation in the maritime industry under the spotlight. The conference and exhibition scheduled to be held on May 16 to 18 at the Dubai World Trade Centre is being held under the patronage of the UAE Ministry of Energy and Infrastructure. The event will bring together some of the leading tech-solution providers from all around the world to enlighten the attendees about the benefits of using modern tools and how they can revolutionise the industry. It will serve as the ideal platform to find solutions for operational challenges environmental issues and ever-increasing functional costs. Shaping the future of classification societies ABS is well positioned and continues to make the right investments in people systems and technologies to drive and shape the future of C...
Vopak and Hydrogenious LOHC Technologies will incorporate an equal shared joint venture named LOHC Logistix for hydrogen storage transport and supply based on Hydrogenious Liquid Organic Hydrogen Carrier (LOHC) technology. This is one of the major steps both companies have agreed on recently to push LOHC market solutions and large-scale pilot projects forward. The LOHC technology developed by Hydrogenious has a big potential to help speed up the development of an international hydrogen market. The LOHC pioneer from Germany uses the thermal oil benzyl toluene as liquid organic hydrogen carrier (LOHC-BT) which is already well-established in the industry as a heat transfer medium and has ideal properties for safe handling in ports said a spokesperson from the company. Due to its characteristics as a flame retardant and non-explosive carrier with a high volumetric energy density benzyl toluene can be handl...
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Vopak and Hydrogenious LOHC Technologies will incorporate an equal shared joint venture named LOHC Logistix for hydrogen storage transport and supply based on Hydrogenious Liquid Organic Hydrogen Carrier (LOHC) technology. This is one of the major steps both companies have agreed on recently to push LOHC market solutions and large-scale pilot projects forward. The LOHC technology developed by Hydrogenious has a big potential to help speed up the development of an international hydrogen market. The LOHC pioneer from Germany uses the thermal oil benzyl toluene as liquid organic hydrogen carrier (LOHC-BT) which is already well-established in the industry as a heat transfer medium and has ideal properties for safe handling in ports said a spokesperson from the company. Due to its characteristics as a flame retardant and non-explosive carrier with a high volumetric energy density benzyl toluene can be handl...
Bahrain-based GFH Financial Group said it has acquired a majority stake in Big Sky Asset Management a US-based real estate asset manager focused on the attractive and defensive healthcare segment. A leading regional financial group with interests in key sectors such as the real estate and asset management GFH said this transaction further expands its presence in the US and builds on its thematic focus on attractive and defensive markets. It follows the earlier acquisition in May last year of US-based SQ Asset Management a leading specialist in student housing in prime US states and cities. With the acquisitions of Big Sky GFH has established a strong foothold in the growing defensive healthcare market making the Group one of the early pioneers in the region to penetrate this segment it stated. Big Sky brings more than ...
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Bahrain-based GFH Financial Group said it has acquired a majority stake in Big Sky Asset Management a US-based real estate asset manager focused on the attractive and defensive healthcare segment. A leading regional financial group with interests in key sectors such as the real estate and asset management GFH said this transaction further expands its presence in the US and builds on its thematic focus on attractive and defensive markets. It follows the earlier acquisition in May last year of US-based SQ Asset Management a leading specialist in student housing in prime US states and cities. With the acquisitions of Big Sky GFH has established a strong foothold in the growing defensive healthcare market making the Group one of the early pioneers in the region to penetrate this segment it stated. Big Sky brings more than ...
The value of real estate market transactions in Dubai surpassed AED240 billion ( 65.33 billion) in 2022 recording a 61% gain compared to the previous year according to the Zeitgeist 2022 Report from Property Finder a property portal. The Dubai market also experienced a record-breaking year in 2022 where registered sales reached 88 028 transactions as of November 2022 up from 60 258 transactions in 2021 representing a significant increase of 46% and surpasses the market peak in 2013 by 38%. This growth has been fuelled by the remarkable success of off-plan deals which climbed by 86% compared to 2021. Off-plan transactions value made up 44% of all transactions in 2022 up from 40% in 2021 as measured by volume in the market which saw a shift between these two performance categories. In contrast to 2021 when transactions were valued at about AED 44.6 billion the value of transactions climbed to 35% of all transactions by reaching...
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The value of real estate market transactions in Dubai surpassed AED240 billion ( 65.33 billion) in 2022 recording a 61% gain compared to the previous year according to the Zeitgeist 2022 Report from Property Finder a property portal. The Dubai market also experienced a record-breaking year in 2022 where registered sales reached 88 028 transactions as of November 2022 up from 60 258 transactions in 2021 representing a significant increase of 46% and surpasses the market peak in 2013 by 38%. This growth has been fuelled by the remarkable success of off-plan deals which climbed by 86% compared to 2021. Off-plan transactions value made up 44% of all transactions in 2022 up from 40% in 2021 as measured by volume in the market which saw a shift between these two performance categories. In contrast to 2021 when transactions were valued at about AED 44.6 billion the value of transactions climbed to 35% of all transactions by reaching...
All real estate sub-segments in the GCC performed better year on year (y-o-y) in 2022 even as commercial spaces witnessed idiosyncratic journeys of growth says a report. In the office segment supply continues to be tailored towards newer sources of demand such as robotics IT and healthcare as these sectors drive faster take-up of such spaces says the Kamco Invest report. We reiterate that 2022 will be the new base year for the office real estate demand for both new and existing stock of office spaces. Separately temperature-controlled spaces chilled centres and bonded warehouses continue to command premiums of at least 25%-30% at the top end of the industrial warehouse market it says. Within the retail real estate market mall space developers are focusing on the benefits of cross-shopping relationships and its impact on footfalls and consumer spending w...
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All real estate sub-segments in the GCC performed better year on year (y-o-y) in 2022 even as commercial spaces witnessed idiosyncratic journeys of growth says a report. In the office segment supply continues to be tailored towards newer sources of demand such as robotics IT and healthcare as these sectors drive faster take-up of such spaces says the Kamco Invest report. We reiterate that 2022 will be the new base year for the office real estate demand for both new and existing stock of office spaces. Separately temperature-controlled spaces chilled centres and bonded warehouses continue to command premiums of at least 25%-30% at the top end of the industrial warehouse market it says. Within the retail real estate market mall space developers are focusing on the benefits of cross-shopping relationships and its impact on footfalls and consumer spending w...
Saudi mortgage lender Bidaya is offering an investment opportunity - through the launch of its new real estate finance product - for a segment of clients who want to diversify their investments to include residential and commercial buildings and land plots in different regions of the kingdom. Commercial Real Estate Finance is now considered one of the most in-demand finance types which target clients who seek to make reasonable investment revenues through this kind of real estate that offers diversified options to clients to help them make bigger revenues from ordinary residential buildings said a statement from Bidaya. This product has been announced within the framework of the company s distinguished digital system and through its developed electronic site where all the company s products can be obtained through three simple and easy steps it stated. &nb...
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Saudi mortgage lender Bidaya is offering an investment opportunity - through the launch of its new real estate finance product - for a segment of clients who want to diversify their investments to include residential and commercial buildings and land plots in different regions of the kingdom. Commercial Real Estate Finance is now considered one of the most in-demand finance types which target clients who seek to make reasonable investment revenues through this kind of real estate that offers diversified options to clients to help them make bigger revenues from ordinary residential buildings said a statement from Bidaya. This product has been announced within the framework of the company s distinguished digital system and through its developed electronic site where all the company s products can be obtained through three simple and easy steps it stated. &nb...
Dubai saw a total of 2 882 real estate transactions worth over AED 9.2 billion ( 2.5 billion) during the week ending December 16 2022 according to figures released by the Dubai Land Department (DLD). The DLD report revealed that 199 plots were sold for AED1.33 billion while 2 011 apartments and villas were purchased for AED4.61 billion a WAM report said. The top three transactions were a land in Palm Deira sold for AED 47.38 million followed by a land that was sold for AED40 million in Me Aisem First and a land sold for AED47.38 million in Palm Deira. Al Hebiah Fifth recorded the most transactions for this week with 92 sales transactions worth AED244.61 million followed by Jabal Ali First with 21 transactions worth AED147.11 million and Al Hebiah Fourth with 15 transactions worth AED290 million. Top ...
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Dubai saw a total of 2 882 real estate transactions worth over AED 9.2 billion ( 2.5 billion) during the week ending December 16 2022 according to figures released by the Dubai Land Department (DLD). The DLD report revealed that 199 plots were sold for AED1.33 billion while 2 011 apartments and villas were purchased for AED4.61 billion a WAM report said. The top three transactions were a land in Palm Deira sold for AED 47.38 million followed by a land that was sold for AED40 million in Me Aisem First and a land sold for AED47.38 million in Palm Deira. Al Hebiah Fifth recorded the most transactions for this week with 92 sales transactions worth AED244.61 million followed by Jabal Ali First with 21 transactions worth AED147.11 million and Al Hebiah Fourth with 15 transactions worth AED290 million. Top ...
Real estate transactions in the Emirate of Sharjah during November increased to AED2.7 billion ( 735 million) compared to a monetary value of real estate transactions of AED1.9 billion the previous month a report said. A total of 2 813 real estate transactions were carried out during the period and 650 were sale transactions constituting 23.1 percent reported Emirates News Agency WAM citing the report issued by the Sharjah Real Estate Registration Department (SRERD). Mortgage transactions increased to 322 comprising 11.4 percent of the total transactions amounting to AED921 million with the remaining 1 841 transactions distributed over other real estate transactions representing 65.5 percent of the total. The report revealed that real estate market sales covered a total area of 13.3 million sq ft distributed over 99 locations in various cities of Sharjah. Types of real estate traded included residential commercial i...
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Real estate transactions in the Emirate of Sharjah during November increased to AED2.7 billion ( 735 million) compared to a monetary value of real estate transactions of AED1.9 billion the previous month a report said. A total of 2 813 real estate transactions were carried out during the period and 650 were sale transactions constituting 23.1 percent reported Emirates News Agency WAM citing the report issued by the Sharjah Real Estate Registration Department (SRERD). Mortgage transactions increased to 322 comprising 11.4 percent of the total transactions amounting to AED921 million with the remaining 1 841 transactions distributed over other real estate transactions representing 65.5 percent of the total. The report revealed that real estate market sales covered a total area of 13.3 million sq ft distributed over 99 locations in various cities of Sharjah. Types of real estate traded included residential commercial i...
The Kingdom of Saudi Arabia (KSA) will see sustained property market growth fuelled by Vision 2030 and the Iskan programme with 1 trillion slated for real estate and infrastructure projects said top ratings agency S&P Global Ratings. At least eight new cities are planned predominantly along the coast of the Red Sea with more than 1.3 million new homes by end-2030. Numerous projects are also slated for existing main cities. With the ambitious target for Riyadh to become one of the 10 largest cities in the world its population is projected to exceed 15 million by 2030 from around 8 million (2018 estimates). Saudi Arabia s retail property market has a lot of long-term growth potential. Real estate will gain from various new programmes to provide local housing and invigorate the business and financial sectors via investments in commercial real estate S&P said. &n...
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The Kingdom of Saudi Arabia (KSA) will see sustained property market growth fuelled by Vision 2030 and the Iskan programme with 1 trillion slated for real estate and infrastructure projects said top ratings agency S&P Global Ratings. At least eight new cities are planned predominantly along the coast of the Red Sea with more than 1.3 million new homes by end-2030. Numerous projects are also slated for existing main cities. With the ambitious target for Riyadh to become one of the 10 largest cities in the world its population is projected to exceed 15 million by 2030 from around 8 million (2018 estimates). Saudi Arabia s retail property market has a lot of long-term growth potential. Real estate will gain from various new programmes to provide local housing and invigorate the business and financial sectors via investments in commercial real estate S&P said. &n...
The construction sector in the UAE valued at around 85.6 billion in 2021 is expected to grow at a CAGR of more than 3% between 2023 and 2026. According to industry experts categories such as ceramic tile are largely expected to accelerate this growth driven by a ballooning need for sustainable living and working spaces in the region. On its part the UAE ceramic tile market is projected to witness substantial growth owing to the significant increase in construction activities for housing hospitality and medical they stated. The Middle East is perfectly positioned for the development of renewable energy due to its climate and the technological resources available to us . The COP28 in the UAE in 2023 will likely speed up a number of key initiatives that are already under way. While the demand for ceramic tiles is increasin...
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The construction sector in the UAE valued at around 85.6 billion in 2021 is expected to grow at a CAGR of more than 3% between 2023 and 2026. According to industry experts categories such as ceramic tile are largely expected to accelerate this growth driven by a ballooning need for sustainable living and working spaces in the region. On its part the UAE ceramic tile market is projected to witness substantial growth owing to the significant increase in construction activities for housing hospitality and medical they stated. The Middle East is perfectly positioned for the development of renewable energy due to its climate and the technological resources available to us . The COP28 in the UAE in 2023 will likely speed up a number of key initiatives that are already under way. While the demand for ceramic tiles is increasin...
JD Logistics recently announced the opening of its second warehouse in Dubai UAE. Joining the company s global logistics network the new warehouse can provide end-to-end supply chain services that cover Asia Africa and Europe for local and cross-border merchants the company said in a statement. Located in Dubai Industrial City a 20-minute drive from the Port of Jebel Ali this warehouse with an area of 12 000 sq m provides logistics services ranging from concentrated transportation sea transportation air transportation transition customs clearance to warehousing sorting labeling dropshipping and more for both bulky and small to medium-sized products and meeting both B2C and B2B fulfilment requirements. Adopting JD Logistics self-developed management system the warehouse can digitally manage inbound and outbound inventory thus precisely predicting the trends and allocating distribution resources accordingly to improve log...
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JD Logistics recently announced the opening of its second warehouse in Dubai UAE. Joining the company s global logistics network the new warehouse can provide end-to-end supply chain services that cover Asia Africa and Europe for local and cross-border merchants the company said in a statement. Located in Dubai Industrial City a 20-minute drive from the Port of Jebel Ali this warehouse with an area of 12 000 sq m provides logistics services ranging from concentrated transportation sea transportation air transportation transition customs clearance to warehousing sorting labeling dropshipping and more for both bulky and small to medium-sized products and meeting both B2C and B2B fulfilment requirements. Adopting JD Logistics self-developed management system the warehouse can digitally manage inbound and outbound inventory thus precisely predicting the trends and allocating distribution resources accordingly to improve log...
The 43rd edition of the Big 5 one of the largest construction events in the region opened this morning (December 5) in Dubai starting a four-day run at the Dubai World Trade Centre with an industry-altering and future-proofing agenda. The expo will feature six specialised events addressing the entire sector eco-system - Big 5 Heavy Middle East Concrete HVAC R Expo Middle East Stone Urban Design & Landscape Expo and FM Expo said the organisers dmg events. Also held alongside the Big 5 is the inaugural Everything Architecture the only exclusive event for the architecture and design community in the Middle East. More than 2 000 participants from 60 countries are taking part in the event which will host 20 national pavilions including newcomers Oman Pakistan and Singapore bringing together the key stakeholders from across the full construction value-chain to network ...
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The 43rd edition of the Big 5 one of the largest construction events in the region opened this morning (December 5) in Dubai starting a four-day run at the Dubai World Trade Centre with an industry-altering and future-proofing agenda. The expo will feature six specialised events addressing the entire sector eco-system - Big 5 Heavy Middle East Concrete HVAC R Expo Middle East Stone Urban Design & Landscape Expo and FM Expo said the organisers dmg events. Also held alongside the Big 5 is the inaugural Everything Architecture the only exclusive event for the architecture and design community in the Middle East. More than 2 000 participants from 60 countries are taking part in the event which will host 20 national pavilions including newcomers Oman Pakistan and Singapore bringing together the key stakeholders from across the full construction value-chain to network ...
In a thought-provoking day of discussion at the Cityscape Intelligence Talks the region s leading content platform industry leaders concluded that while Dubai s real estate industry has matured into a developed marketplace complete with extensive opportunities investors and homebuyers should really focus on where they want to put their money. Time to rent vs time to buy and just what to buy were some of the trending topics up for debate in a top-level gathering of the region s leading real estate professionals at Cityscape the UAE s largest property finding event. On the exhibition floor Cityscape underlined the appetite of investors and end users to own property in Dubai with key exhibitors reporting big business. Sobha Realty revealed it closed deals worth more than AED100 million ( 27.2 million) during the first two days of the three-day even...
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In a thought-provoking day of discussion at the Cityscape Intelligence Talks the region s leading content platform industry leaders concluded that while Dubai s real estate industry has matured into a developed marketplace complete with extensive opportunities investors and homebuyers should really focus on where they want to put their money. Time to rent vs time to buy and just what to buy were some of the trending topics up for debate in a top-level gathering of the region s leading real estate professionals at Cityscape the UAE s largest property finding event. On the exhibition floor Cityscape underlined the appetite of investors and end users to own property in Dubai with key exhibitors reporting big business. Sobha Realty revealed it closed deals worth more than AED100 million ( 27.2 million) during the first two days of the three-day even...
Various trade advantages and business opportunities offered by the World Logistics Passport were highlighted by the latest Global Freight Resilience Index (GFRI). The study also said the UAE has been improving and strengthening its logistics resilience over the past three years thanks to various initiatives to remove trade barriers and promote investments in technology and infrastructure consolidating the country as a global trade hub. Whiteshield a global strategy and public policy advisory firm presented the index during the Global Freight Summit organised by DP World in Dubai. The GFRI is an annual study that covers two main pillars such as Policy Opportunity and Freight Performance and it highlights areas that governments and private sector should prioritise to enable collective action and coordination to build resilience mitigate risk and promote inclusive growth espec...
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Various trade advantages and business opportunities offered by the World Logistics Passport were highlighted by the latest Global Freight Resilience Index (GFRI). The study also said the UAE has been improving and strengthening its logistics resilience over the past three years thanks to various initiatives to remove trade barriers and promote investments in technology and infrastructure consolidating the country as a global trade hub. Whiteshield a global strategy and public policy advisory firm presented the index during the Global Freight Summit organised by DP World in Dubai. The GFRI is an annual study that covers two main pillars such as Policy Opportunity and Freight Performance and it highlights areas that governments and private sector should prioritise to enable collective action and coordination to build resilience mitigate risk and promote inclusive growth espec...
Lack of stock availability had impacted activity levels in Saudi Arabia s real estate sector during the third quarter of the year according to CBRE a global real estate consultancy firm. Looking at Saudi Arabia s office sector figures the majority of activity remains centered towards Riyadh with occupancy levels now reaching 99.0% and 98.7% for Grade A and Grade B stock respectively stated CBRE in its Saudi Arabia Real Estate Market Review Q3 2022. Constrained supply levels have continued to support growth in rental rates where in the year to September 2022 average Grade A and Grade B rents in Riyadh increased by 5.9% and 3.5% respectively. In Jeddah CBRE sees an uptick in demand with most requirements favouring serviced office offerings as average Grade A rents increased by 8.2% when compared to Q3 2021. In th...
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Lack of stock availability had impacted activity levels in Saudi Arabia s real estate sector during the third quarter of the year according to CBRE a global real estate consultancy firm. Looking at Saudi Arabia s office sector figures the majority of activity remains centered towards Riyadh with occupancy levels now reaching 99.0% and 98.7% for Grade A and Grade B stock respectively stated CBRE in its Saudi Arabia Real Estate Market Review Q3 2022. Constrained supply levels have continued to support growth in rental rates where in the year to September 2022 average Grade A and Grade B rents in Riyadh increased by 5.9% and 3.5% respectively. In Jeddah CBRE sees an uptick in demand with most requirements favouring serviced office offerings as average Grade A rents increased by 8.2% when compared to Q3 2021. In th...
An exclusive platform connecting aspiring female real estate professionals across Mena region was unveiled at the Cityscape the UAE s largest property finding event being held in Dubai. The CityscapeWIRE will build insight and networking opportunities to fuel their career according to Informa the event organisers. The new platform also secured endorsement for its UAE chapter and beyond from the Dubai Land Department through an MoU signed at the show. The community will connect grow and develop all year-round via dedicated digital platforms as well as quarterly in-person events held across Mena in 2023 including the UAE Egypt and Saudi Arabia. Our mission is to unite and inspire women to thrive in the real estate industry together said CityscapeWIRE lead Claire Hardy. div...
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An exclusive platform connecting aspiring female real estate professionals across Mena region was unveiled at the Cityscape the UAE s largest property finding event being held in Dubai. The CityscapeWIRE will build insight and networking opportunities to fuel their career according to Informa the event organisers. The new platform also secured endorsement for its UAE chapter and beyond from the Dubai Land Department through an MoU signed at the show. The community will connect grow and develop all year-round via dedicated digital platforms as well as quarterly in-person events held across Mena in 2023 including the UAE Egypt and Saudi Arabia. Our mission is to unite and inspire women to thrive in the real estate industry together said CityscapeWIRE lead Claire Hardy. div...
Masdar Green REIT the UAE s first real estate investment trust to invest solely in sustainable real estate assets has concluded the acquisition of property worth AED934 million ( 254.2 million) taking its portfolio value to AED1.91 billion ( 520 million) with further assets identified for potential future investments. The announcement made by the fund s manager Masdar Capital Management Limited (MCML) at Abu Dhabi Finance Week follows a 200 million green loan secured from First Abu Dhabi Bank (FAB) in January to help finance the REIT s growth. Masdar Green REIT was established by Masdar as an investment vehicle for professional investors to invest in a professionally managed sustainable income-generating real estate portfolio in Masdar City. The fund s latest acquisitions include two fully occupied Leed Platinum-rated buildings within Masdar City ...
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Masdar Green REIT the UAE s first real estate investment trust to invest solely in sustainable real estate assets has concluded the acquisition of property worth AED934 million ( 254.2 million) taking its portfolio value to AED1.91 billion ( 520 million) with further assets identified for potential future investments. The announcement made by the fund s manager Masdar Capital Management Limited (MCML) at Abu Dhabi Finance Week follows a 200 million green loan secured from First Abu Dhabi Bank (FAB) in January to help finance the REIT s growth. Masdar Green REIT was established by Masdar as an investment vehicle for professional investors to invest in a professionally managed sustainable income-generating real estate portfolio in Masdar City. The fund s latest acquisitions include two fully occupied Leed Platinum-rated buildings within Masdar City ...
AD Ports Group has acquired Noatum a global integrated logistics platform with a presence in 26 countries and LTM (last twelve months) revenue and EBITDA of AED6.91 billion ( 1.88 billion) and AED555 million respectively. The total purchase consideration (enterprise value) for 100% ownership amounts to AED2.5 billion implying an LTM EV/EBITDA of 4.6x. This value and earnings accretive acquisition which significantly broadens AD Ports Group s global footprint and positions it among the leading logistics and freight forwarding companies in the world will be fully funded through a new acquisition loan said AD Ports. Recognising Noatum s high growth potential and capacity to scale AD Ports Group intends to create a market-leading international logistics brand merging its existing logistics business with Noatum to create a significant presence in the region and enhancing services across the co...
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AD Ports Group has acquired Noatum a global integrated logistics platform with a presence in 26 countries and LTM (last twelve months) revenue and EBITDA of AED6.91 billion ( 1.88 billion) and AED555 million respectively. The total purchase consideration (enterprise value) for 100% ownership amounts to AED2.5 billion implying an LTM EV/EBITDA of 4.6x. This value and earnings accretive acquisition which significantly broadens AD Ports Group s global footprint and positions it among the leading logistics and freight forwarding companies in the world will be fully funded through a new acquisition loan said AD Ports. Recognising Noatum s high growth potential and capacity to scale AD Ports Group intends to create a market-leading international logistics brand merging its existing logistics business with Noatum to create a significant presence in the region and enhancing services across the co...
AD Ports Group has announced that it has acquired Noatum a global integrated logistics platform with a presence in 26 countries and LTM revenue and ebitda of AED6.91 billion and AED555 million respectively. The total purchase consideration (Enterprise Value) for 100% ownership amounts to AED2.5 billion ( 681 million) implying an LTM EV/ebitda of 4.6x. Noatum whose origins date back to 1963 operates in three business areas Logistics Maritime and Port Terminals with market-leading positions in Spain and Turkey and a significant presence in the US UK China and Southeast Asia. Noatum s global logistics business specialises in comprehensive freight management project logistics contract logistics international supply chain management customs and e-solutions with offices and a wide network of agents around the world. d...
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AD Ports Group has announced that it has acquired Noatum a global integrated logistics platform with a presence in 26 countries and LTM revenue and ebitda of AED6.91 billion and AED555 million respectively. The total purchase consideration (Enterprise Value) for 100% ownership amounts to AED2.5 billion ( 681 million) implying an LTM EV/ebitda of 4.6x. Noatum whose origins date back to 1963 operates in three business areas Logistics Maritime and Port Terminals with market-leading positions in Spain and Turkey and a significant presence in the US UK China and Southeast Asia. Noatum s global logistics business specialises in comprehensive freight management project logistics contract logistics international supply chain management customs and e-solutions with offices and a wide network of agents around the world. d...
Saudi Arabia s construction market is worth SR255 billion ( 68 billion) per annum thus making it the country s second biggest non-oil sector reported the Saudi Gazette citing a senior minister. There are more than 175 000 companies that are working in the contracting sector with about 4 million workers stated Minister of Municipal and Rural Affairs and Housing Majid Bin Abdullah Al Hogail after inaugurating the third edition of the International Contracting Conference in capital Riyadh. Al Hogail pointed out that the contracting sector represented a main pillar in the growth and prosperity of Saudi Arabia as it is also a main engine for several sectors. Stressing upon the need to transform the construction sector into an industry the minister said this would be a pivotal step that will pave way for providing the best solution to face the sector s various ...
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Saudi Arabia s construction market is worth SR255 billion ( 68 billion) per annum thus making it the country s second biggest non-oil sector reported the Saudi Gazette citing a senior minister. There are more than 175 000 companies that are working in the contracting sector with about 4 million workers stated Minister of Municipal and Rural Affairs and Housing Majid Bin Abdullah Al Hogail after inaugurating the third edition of the International Contracting Conference in capital Riyadh. Al Hogail pointed out that the contracting sector represented a main pillar in the growth and prosperity of Saudi Arabia as it is also a main engine for several sectors. Stressing upon the need to transform the construction sector into an industry the minister said this would be a pivotal step that will pave way for providing the best solution to face the sector s various ...
DSV the world s third-largest freight forwarder and leading global logistics provider today (November 15) opened a 14 000 sq m logistics facility in Bahrain Logistics Zone in Hidd to expand its warehousing capabilities in the area. The new facility supports contract logistics with ambient chilled and frozen storage as well as solutions for high-value cargo. It will offer secure records management services and storage/turnkey logistics for Bahrain-based manufacturers in the fast-moving consumer goods industry DSV said in a statement. With a storage capacity of 24 000 pallet positions the new facility increases DSV s controlled-temperature warehouse capacity in the Kingdom of Bahrain to a total of 65 000 pallet positions and 75 000 sq m. The increase in capacity enables the company to continue to support its customers in a market of increasing interest and demand. ...
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DSV the world s third-largest freight forwarder and leading global logistics provider today (November 15) opened a 14 000 sq m logistics facility in Bahrain Logistics Zone in Hidd to expand its warehousing capabilities in the area. The new facility supports contract logistics with ambient chilled and frozen storage as well as solutions for high-value cargo. It will offer secure records management services and storage/turnkey logistics for Bahrain-based manufacturers in the fast-moving consumer goods industry DSV said in a statement. With a storage capacity of 24 000 pallet positions the new facility increases DSV s controlled-temperature warehouse capacity in the Kingdom of Bahrain to a total of 65 000 pallet positions and 75 000 sq m. The increase in capacity enables the company to continue to support its customers in a market of increasing interest and demand. ...
The Special Economic Zone at Duqm (Sezad) has launched construction works using the 3D printing technology to build a residential unit in the Fishermen s Village and a café in the Tourist Zone in the Special Economic Zone at Duqm. Saif bin Nasser Al Busaidi Manager of Projects Management Department at Oman Company for the Development of the Special Economic Zone at Duqm (Tatweer Duqm) pointed out that the project includes building café over an area of 101 sq m and a residential unit to be built on 72 sq m of land in the Fishermen s Village. The construction process will take around a few days to build the café using 3D printing technology marking a remarkable change in the construction sector in comparison with the traditional building process. In addition to the record time of construction when using 3D building technology it does not require having the concrete beams for the building structure. Rath...
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The Special Economic Zone at Duqm (Sezad) has launched construction works using the 3D printing technology to build a residential unit in the Fishermen s Village and a café in the Tourist Zone in the Special Economic Zone at Duqm. Saif bin Nasser Al Busaidi Manager of Projects Management Department at Oman Company for the Development of the Special Economic Zone at Duqm (Tatweer Duqm) pointed out that the project includes building café over an area of 101 sq m and a residential unit to be built on 72 sq m of land in the Fishermen s Village. The construction process will take around a few days to build the café using 3D printing technology marking a remarkable change in the construction sector in comparison with the traditional building process. In addition to the record time of construction when using 3D building technology it does not require having the concrete beams for the building structure. Rath...
The global building and construction boom has pushed the sector s CO2 emissions to an all-time high of 10 gigatonnes and is now off track to meet decarbonisation pledges by 2050 said a top official of the UN Environment Programme (UNEP). Years of warnings about the impacts of climate change have become a reality said Inger Andersen the UNEP Executive Director. If we do not rapidly cut emissions in line with the Paris Agreement we will be in deeper trouble he noted. According to a report from the UN agency more than 34% of global energy demand in 2021 came from the sector along with around 37% of energy and process-related CO2 emissions. Data crunched for the UNEP publication ahead of COP27 climate talks in Egypt also found that 2021 CO2 emissions were five per cent higher than in 2020 and two per cent more than the pre-pande...
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The global building and construction boom has pushed the sector s CO2 emissions to an all-time high of 10 gigatonnes and is now off track to meet decarbonisation pledges by 2050 said a top official of the UN Environment Programme (UNEP). Years of warnings about the impacts of climate change have become a reality said Inger Andersen the UNEP Executive Director. If we do not rapidly cut emissions in line with the Paris Agreement we will be in deeper trouble he noted. According to a report from the UN agency more than 34% of global energy demand in 2021 came from the sector along with around 37% of energy and process-related CO2 emissions. Data crunched for the UNEP publication ahead of COP27 climate talks in Egypt also found that 2021 CO2 emissions were five per cent higher than in 2020 and two per cent more than the pre-pande...
Bahrain Airport Services (BAS) has signed up Al Sabah Construction as the official contractor for its new catering facility coming up within Sakhir Airbase. The new catering facility which will come up on a 7 500 sq m plot area will be manned by a set of skilled employees who will cater to the daily requirements for VIP flight operations as well as other customers in surrounding areas said the statement from BAS. It will also provide special services for major events such as the Bahrain International Airshow it stated. The agreement was signed by CEO Mohamed Khalil and Ali Abdulla Subah the Chairman of Al Sabah Construction today (November 10) on the second day of the Bahrain International Airshow in the presence of Commander of Sakhir Air Base Major General Staff Pilot Mohammad BaHussain Al Musallam. On the partnership Khalil sa...
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Bahrain Airport Services (BAS) has signed up Al Sabah Construction as the official contractor for its new catering facility coming up within Sakhir Airbase. The new catering facility which will come up on a 7 500 sq m plot area will be manned by a set of skilled employees who will cater to the daily requirements for VIP flight operations as well as other customers in surrounding areas said the statement from BAS. It will also provide special services for major events such as the Bahrain International Airshow it stated. The agreement was signed by CEO Mohamed Khalil and Ali Abdulla Subah the Chairman of Al Sabah Construction today (November 10) on the second day of the Bahrain International Airshow in the presence of Commander of Sakhir Air Base Major General Staff Pilot Mohammad BaHussain Al Musallam. On the partnership Khalil sa...
Agility a supply chain services infrastructure and innovation company has announced plans to build a major logistics park in an area south of Jeddah city at an investment of SR611 million ( 163 million). Announcing the mega development Agility said a land-concession agreement has already been inked with Saudi Arabia s State Properties General Administration (SPGA) for the key storage and distribution facility. The project at Jeddah-Al Mahjar calls for construction of a modern warehousing complex on a 576 760 SQM parcel south of the Saudi city starting in Q1 2023. The Agility Logistics Park Jeddah is likely to open in Q1 2025. Under terms of its agreement with SPGA Agility will be developing the park and will have the right to operate it for 25 years said the company in its statement. The l...
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Agility a supply chain services infrastructure and innovation company has announced plans to build a major logistics park in an area south of Jeddah city at an investment of SR611 million ( 163 million). Announcing the mega development Agility said a land-concession agreement has already been inked with Saudi Arabia s State Properties General Administration (SPGA) for the key storage and distribution facility. The project at Jeddah-Al Mahjar calls for construction of a modern warehousing complex on a 576 760 SQM parcel south of the Saudi city starting in Q1 2023. The Agility Logistics Park Jeddah is likely to open in Q1 2025. Under terms of its agreement with SPGA Agility will be developing the park and will have the right to operate it for 25 years said the company in its statement. The l...
Petronas Accenture and Amazon Web Services (AWS) are collaborating to evaluate commercialisation opportunities globally for the cloud-based logistics solution and services platform Stear. The arrangement was formalised on the sidelines of the Abu Dhabi International Petroleum Exhibition & Conference (Adipec) 2022 taking place from October 31 to November 3. Developed by Petronas in partnership with Accenture in 2021 Stear is designed to optimise the logistics operations and costs of offshore vessels using key technologies such as fuel management intelligent routing and scheduling of vessels with near real-time voyage tracking and monitoring. AWS is joining the team to help scale and commercialise Stear which plays a key role in supporting offshore exploration production and development while helping logistics operations reduce carbon emissions. span style= font-siz...
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Petronas Accenture and Amazon Web Services (AWS) are collaborating to evaluate commercialisation opportunities globally for the cloud-based logistics solution and services platform Stear. The arrangement was formalised on the sidelines of the Abu Dhabi International Petroleum Exhibition & Conference (Adipec) 2022 taking place from October 31 to November 3. Developed by Petronas in partnership with Accenture in 2021 Stear is designed to optimise the logistics operations and costs of offshore vessels using key technologies such as fuel management intelligent routing and scheduling of vessels with near real-time voyage tracking and monitoring. AWS is joining the team to help scale and commercialise Stear which plays a key role in supporting offshore exploration production and development while helping logistics operations reduce carbon emissions. span style= font-siz...
Dr. Sheikh Sultan bin Muhammad Al Qasimi Supreme Council Member and Ruler of Sharjah has issued Law No. (2) of 2022 on the amendment of Law No. (5) of 2010 on real estate registration in the emirate of Sharjah. As per the law the text of Article (4) of Law No. (5) of 2010 shall be replaced by the following text: The right to own real estate in the emirate is limited to persons who are citizens of the UAE and citizens of the Cooperation Council for the Arab States of the Gulf and as an exception to this the right of ownership may be granted to others according to the following: Ownership with the agreement of the Ruler. Transferring by inheritance by virtue of a legal notification. Assignment by the owner to one of his first-degree relatives in accordance with what is specified in the executive regulations of this law. Ownership in rea...
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Dr. Sheikh Sultan bin Muhammad Al Qasimi Supreme Council Member and Ruler of Sharjah has issued Law No. (2) of 2022 on the amendment of Law No. (5) of 2010 on real estate registration in the emirate of Sharjah. As per the law the text of Article (4) of Law No. (5) of 2010 shall be replaced by the following text: The right to own real estate in the emirate is limited to persons who are citizens of the UAE and citizens of the Cooperation Council for the Arab States of the Gulf and as an exception to this the right of ownership may be granted to others according to the following: Ownership with the agreement of the Ruler. Transferring by inheritance by virtue of a legal notification. Assignment by the owner to one of his first-degree relatives in accordance with what is specified in the executive regulations of this law. Ownership in rea...
Dubai Future Labs the Dubai Future Foundation s applied research and development lab showcased its innovations at the International Conference on Intelligent Robots and Systems (IROS) 2022 in Kyoto Japan from October 23 to 27. Connecting with academics universities students international institutions researchers and experts in robotics and autonomous systems on the global stage Dubai Future Labs introduced two unmanned ground vehicles (UGV) developed by in-house talents for logistics sector. This included a last-mile delivery robot and an intralogistics vehicle. During the international conference Dubai Future Labs reaffirmed Dubai s position as a global innovation hub and destination for talents to collaborate on applied research projects. It also invited investors to explore business opportunities within Dubai s thriving innovation ecosystem. /div...
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Dubai Future Labs the Dubai Future Foundation s applied research and development lab showcased its innovations at the International Conference on Intelligent Robots and Systems (IROS) 2022 in Kyoto Japan from October 23 to 27. Connecting with academics universities students international institutions researchers and experts in robotics and autonomous systems on the global stage Dubai Future Labs introduced two unmanned ground vehicles (UGV) developed by in-house talents for logistics sector. This included a last-mile delivery robot and an intralogistics vehicle. During the international conference Dubai Future Labs reaffirmed Dubai s position as a global innovation hub and destination for talents to collaborate on applied research projects. It also invited investors to explore business opportunities within Dubai s thriving innovation ecosystem. /div...
Edamah the real estate arm of Bahrain s sovereign wealth fund Mumtalakat Holding has broken ground on its new Sitra Logistics Park a world class warehousing facility which will serve the kingdom s logistics industry. The 87 382 sqm Sitra Logistics Park includes a number of facilities for industrial commercial and logistical use which can be tailored according to tenants requirements. Among the Park s biggest clients is Trident Warehousing which signed a 10-year lease agreement valued at 7 million for an 8 137 sqm facility. Edamah said it will be working with Trident Warehousing and their business associate Hoover Circular Solutions a leading provider of sustainable packaging and fleet management solutions based in Texas US to create a facility that meets their technical and operational requirements. The cerem...
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Edamah the real estate arm of Bahrain s sovereign wealth fund Mumtalakat Holding has broken ground on its new Sitra Logistics Park a world class warehousing facility which will serve the kingdom s logistics industry. The 87 382 sqm Sitra Logistics Park includes a number of facilities for industrial commercial and logistical use which can be tailored according to tenants requirements. Among the Park s biggest clients is Trident Warehousing which signed a 10-year lease agreement valued at 7 million for an 8 137 sqm facility. Edamah said it will be working with Trident Warehousing and their business associate Hoover Circular Solutions a leading provider of sustainable packaging and fleet management solutions based in Texas US to create a facility that meets their technical and operational requirements. The cerem...
Shipsy will showcase how businesses in Saudi Arabia are leveraging its platform to reduce carbon emissions by shrinking distance travelled per package making miles greener and optimising logistics costs at Seamless KSA 2022. At the event from November 2 to 3 Shipsy a leading smart logistics management technology provider will showcase how its platform enables businesses in the region to deliver on skyrocketing online delivery demands and expedite digital transformation goals by scaling and optimising end-to-end logistics operations. KSA remains a crucial market for Shipsy. The region accounts for over 40% of logistical activity in the Middle East North Africa and the Gulf Cooperation Council (GCC). However due to the current supply chain challenges there s a growing need for businesses to embrace mission-critical logistics solutions. This is where Shipsy comes in.  ...
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Shipsy will showcase how businesses in Saudi Arabia are leveraging its platform to reduce carbon emissions by shrinking distance travelled per package making miles greener and optimising logistics costs at Seamless KSA 2022. At the event from November 2 to 3 Shipsy a leading smart logistics management technology provider will showcase how its platform enables businesses in the region to deliver on skyrocketing online delivery demands and expedite digital transformation goals by scaling and optimising end-to-end logistics operations. KSA remains a crucial market for Shipsy. The region accounts for over 40% of logistical activity in the Middle East North Africa and the Gulf Cooperation Council (GCC). However due to the current supply chain challenges there s a growing need for businesses to embrace mission-critical logistics solutions. This is where Shipsy comes in.  ...
OTI real-estate a company of Hebashi Holding Group has announced the launch of its new venture Virtu that enables investors from around the world to buy real estate in the operating countries such as Georgia Egypt Oman Saudi Arabia and Turkey in addition to the UAE. It has been set up in collaboration with a number of strategic partners including Georgian group Fadox and Oman-based Gulf Real Estate Company. A partnership deal will soon be inked between Virtu and the Gulf Real Estate making it as the exclusive and sole agent to the platform in the region. Through this partnership GCC-based investors will be able to purchase the shares offered by the platform easily. Gulf Real Estate Company is a large company with a huge existence in the GCC Real-estate Market and it s headquartered in Oman. Touted as a game-changer...
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OTI real-estate a company of Hebashi Holding Group has announced the launch of its new venture Virtu that enables investors from around the world to buy real estate in the operating countries such as Georgia Egypt Oman Saudi Arabia and Turkey in addition to the UAE. It has been set up in collaboration with a number of strategic partners including Georgian group Fadox and Oman-based Gulf Real Estate Company. A partnership deal will soon be inked between Virtu and the Gulf Real Estate making it as the exclusive and sole agent to the platform in the region. Through this partnership GCC-based investors will be able to purchase the shares offered by the platform easily. Gulf Real Estate Company is a large company with a huge existence in the GCC Real-estate Market and it s headquartered in Oman. Touted as a game-changer...
Kuwait s real estate sector has been witnessing tremendous growth over the last few months with the oil-rich country s total number of property transactions during the nine-month period alone surging to hit more than 4 700 reported Arab Times citing data from Real Estate Registration and Authentication Department at the Ministry of Justice. These transactions which involved various types of real estate categories were worth more than KD3 billion ( 9.63 billion) said the report. The aggregate statistics for the first 9 months showed that the residential real estate accounted for the highest percentage of these transactions which stood at 3 531 properties it added. ...
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Kuwait s real estate sector has been witnessing tremendous growth over the last few months with the oil-rich country s total number of property transactions during the nine-month period alone surging to hit more than 4 700 reported Arab Times citing data from Real Estate Registration and Authentication Department at the Ministry of Justice. These transactions which involved various types of real estate categories were worth more than KD3 billion ( 9.63 billion) said the report. The aggregate statistics for the first 9 months showed that the residential real estate accounted for the highest percentage of these transactions which stood at 3 531 properties it added. ...
Mercator a leader in the travel and tourism sector has launched a new unit to organize exhibitions conferences entertainment and logistics services under the supervision of specialized professionals across the Emirates. The Managing Director of Mercator Travel and Tourism in Abu Dhabi Monther Alslaity said: We are privileged that UAE was one of the first countries to overcome the adverse effects of the Covid-19 pandemic. The successful initiatives health and safety protocols and the full commitment of all the society members have contributed to the speedy return to the new normal. The exhibitions and conferences sector in the country was one to witness the strong bounce back amidst the immense effect of the pandemic which encouraged us to launch this new unit in organizing exhibitions conferences recreational and logistics services led by a credible and specialized team to support economic diversification plans in the Abu Dhab...
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Mercator a leader in the travel and tourism sector has launched a new unit to organize exhibitions conferences entertainment and logistics services under the supervision of specialized professionals across the Emirates. The Managing Director of Mercator Travel and Tourism in Abu Dhabi Monther Alslaity said: We are privileged that UAE was one of the first countries to overcome the adverse effects of the Covid-19 pandemic. The successful initiatives health and safety protocols and the full commitment of all the society members have contributed to the speedy return to the new normal. The exhibitions and conferences sector in the country was one to witness the strong bounce back amidst the immense effect of the pandemic which encouraged us to launch this new unit in organizing exhibitions conferences recreational and logistics services led by a credible and specialized team to support economic diversification plans in the Abu Dhab...
Celebverse a virtual real estate offering exposure to the burgeoning industry via Metaverse has now gone live. It is the revolutionary step towards Metaverse providing users with the privilege to purchase parcels around celeb s Metaverse Land. With the freedom individuals around the globe can now enjoy their choice neighbourhood and own their space in the Celebverse said a statement from Celebverse. With its help one can acquire virtual property/NFTs and take advantage of various virtual accurate estate-centric services it stated. Talking about it Yogesh Dixit Head of Operations Asia Pacific Celebverse said: We aim to create an ecosystem where people can test their imaginations limits enjoy the rights from minting a city to owning citizenship in their favourite celeb or brand city. Characters of Celebverse will be upto 85 percent of human reality. /...
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Celebverse a virtual real estate offering exposure to the burgeoning industry via Metaverse has now gone live. It is the revolutionary step towards Metaverse providing users with the privilege to purchase parcels around celeb s Metaverse Land. With the freedom individuals around the globe can now enjoy their choice neighbourhood and own their space in the Celebverse said a statement from Celebverse. With its help one can acquire virtual property/NFTs and take advantage of various virtual accurate estate-centric services it stated. Talking about it Yogesh Dixit Head of Operations Asia Pacific Celebverse said: We aim to create an ecosystem where people can test their imaginations limits enjoy the rights from minting a city to owning citizenship in their favourite celeb or brand city. Characters of Celebverse will be upto 85 percent of human reality. /...
Arabian Contracting Services Company has announced that it has entered into an agreement with Faden Media a major digital advertising media group in Saudi Arabia to acquire the entire company for SR1.05 billion ( 280 million). A major player in the kingdom s outdoor marketing sector Arabian Contracting Services Company is backed by the Middle East Broadcasting Company. The MBC Group had in 2020 acquired a minority stake in Al Arabia the leading out-of-home advertising solutions provider in the region. This deal represents an extension of the strategy of the Arabian Contracting Services Company by entering profitable alliances and partnerships locally and regionally with the aim of maintaining its leading position said the company in its filing to Saudi bourse Tadawul. The pact will help enhance its market share by taking advantage of the competitive advantages and acquiri...
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Arabian Contracting Services Company has announced that it has entered into an agreement with Faden Media a major digital advertising media group in Saudi Arabia to acquire the entire company for SR1.05 billion ( 280 million). A major player in the kingdom s outdoor marketing sector Arabian Contracting Services Company is backed by the Middle East Broadcasting Company. The MBC Group had in 2020 acquired a minority stake in Al Arabia the leading out-of-home advertising solutions provider in the region. This deal represents an extension of the strategy of the Arabian Contracting Services Company by entering profitable alliances and partnerships locally and regionally with the aim of maintaining its leading position said the company in its filing to Saudi bourse Tadawul. The pact will help enhance its market share by taking advantage of the competitive advantages and acquiri...
Dubai South the largest single-urban master development focusing on aviation logistics and real estate has announced that DB Schenker has launched its third mega logistics centre in the Logistics District which marks its continued growth in the MENA region. The third facility which is temperature-controlled offers a total space of 90 000 Euro pallets providing warehousing solutions for different industries including dangerous-goods storage and B2C e-commerce delivery services leveraging its ideal connectivity to land sea and air freight transportation modes. The facility also has a 5 000 sq m mezzanine floor exclusively designed for various value-added service activities. The solar system placed on the roof of DB Schenker s facilities in Dubai South will produce the full energy demand of the 74 000 sq m of warehouse space and 5 000 sq m of office buildin...
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Dubai South the largest single-urban master development focusing on aviation logistics and real estate has announced that DB Schenker has launched its third mega logistics centre in the Logistics District which marks its continued growth in the MENA region. The third facility which is temperature-controlled offers a total space of 90 000 Euro pallets providing warehousing solutions for different industries including dangerous-goods storage and B2C e-commerce delivery services leveraging its ideal connectivity to land sea and air freight transportation modes. The facility also has a 5 000 sq m mezzanine floor exclusively designed for various value-added service activities. The solar system placed on the roof of DB Schenker s facilities in Dubai South will produce the full energy demand of the 74 000 sq m of warehouse space and 5 000 sq m of office buildin...
Saudi Ports Authority (Mawani) has signed a contract with Globe Group a leading company in marine services sector for the development of an integrated logistics park and re-export zone over a 135 000 sq m area at Jeddah Islamic Port. This partnership is part of Mawani s initiatives to set up world-class logistics facilities within and outside port areas in a bid to position the kingdom as a global logistics hub that links three major continents said a statement from Mawani. These best-in-class logistics units will help boost the competitive edge of the kingdom s trade gateway and in turn achieve the objectives of National Transport and Logistics Strategy (NTLS) it stated. Recently Mawani had signed deals worth over SR2 billion ( 532.5 million) with local and global logistics giants including Maersk Bahri CMA CGM LogiPoint and DP World to build five logistics...
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Saudi Ports Authority (Mawani) has signed a contract with Globe Group a leading company in marine services sector for the development of an integrated logistics park and re-export zone over a 135 000 sq m area at Jeddah Islamic Port. This partnership is part of Mawani s initiatives to set up world-class logistics facilities within and outside port areas in a bid to position the kingdom as a global logistics hub that links three major continents said a statement from Mawani. These best-in-class logistics units will help boost the competitive edge of the kingdom s trade gateway and in turn achieve the objectives of National Transport and Logistics Strategy (NTLS) it stated. Recently Mawani had signed deals worth over SR2 billion ( 532.5 million) with local and global logistics giants including Maersk Bahri CMA CGM LogiPoint and DP World to build five logistics...
Saudi Ports Authority (Mawani) has signed a contract with Globe Group a leading national company in marine services to develop a 135 000 sq m integrated logistics park and re-export zone at Jeddah Islamic Port aiming to boost the competitive edge of the Kingdom s trade gateway and enabling the national logistics industry. This partnership is part of Mawani s initiatives to set up world-class logistics facilities within and outside port areas in a bid to position the Kingdom as a global logistics hub that links three major continents besides offering best-in-class logistics services which fulfill the Kingdom s national development plans in line with the objectives of the National Transport and Logistics Strategy (NTLS) said Saudi Press Agency report. Mawani is keen on advancing the private sector s contribution to the economic development bolstering diversification and enhancing Saud...
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Saudi Ports Authority (Mawani) has signed a contract with Globe Group a leading national company in marine services to develop a 135 000 sq m integrated logistics park and re-export zone at Jeddah Islamic Port aiming to boost the competitive edge of the Kingdom s trade gateway and enabling the national logistics industry. This partnership is part of Mawani s initiatives to set up world-class logistics facilities within and outside port areas in a bid to position the Kingdom as a global logistics hub that links three major continents besides offering best-in-class logistics services which fulfill the Kingdom s national development plans in line with the objectives of the National Transport and Logistics Strategy (NTLS) said Saudi Press Agency report. Mawani is keen on advancing the private sector s contribution to the economic development bolstering diversification and enhancing Saud...
Dubai s Roads and Transport Authority (RTA) has awarded a contract for construction of internal roads and lighting works at four residential communities in the emirate - Margham Lahbab Al Lesaily and Hatta. The project which covers roads extending 37 km in total also includes road works running over 21 km long and adding streetlights for existing roads stretching 16 km. The project is expected to be completed by the end of 2023. Announcing the contracts Mattar Al Tayer the Director-General and Chairman of the Board of Executive Directors of RTA said: The construction of internal roads stems from RTA s keenness to improve the infrastructure of roads light and stormwater drainage systems in residential communities. On the Margham project Al Tayer said: The internal roads project covers the construction of roads extending 8 km in an a...
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Dubai s Roads and Transport Authority (RTA) has awarded a contract for construction of internal roads and lighting works at four residential communities in the emirate - Margham Lahbab Al Lesaily and Hatta. The project which covers roads extending 37 km in total also includes road works running over 21 km long and adding streetlights for existing roads stretching 16 km. The project is expected to be completed by the end of 2023. Announcing the contracts Mattar Al Tayer the Director-General and Chairman of the Board of Executive Directors of RTA said: The construction of internal roads stems from RTA s keenness to improve the infrastructure of roads light and stormwater drainage systems in residential communities. On the Margham project Al Tayer said: The internal roads project covers the construction of roads extending 8 km in an a...
International Maritime Industries (IMI) the largest shipyard in the Mena region has signed a long-term agreement with Bahri Logistics one of Bahri s business units to enhance its supply chain through state-of-the-art warehousing and logistics services. The agreement supports IMI s commitment to developing the Saudi maritime industry and will further enable IMI to offer its customers a highly responsive localized supply chain that reduces risk lowers costs and speeds up response times. Dr Abdullah Al Ahmari the Chief Executive Officer of IMI and Engineer Soror Basalom the Bahri Logistics President signed the agreement during the ongoing Saudi Maritime Congress 2022 in Dammam. Under the agreement IMI will leverage Bahri Logistics expertise to operate and manage three warehouses and a total of 33 stores across its yard in Ras Al Khair Saudi A...
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International Maritime Industries (IMI) the largest shipyard in the Mena region has signed a long-term agreement with Bahri Logistics one of Bahri s business units to enhance its supply chain through state-of-the-art warehousing and logistics services. The agreement supports IMI s commitment to developing the Saudi maritime industry and will further enable IMI to offer its customers a highly responsive localized supply chain that reduces risk lowers costs and speeds up response times. Dr Abdullah Al Ahmari the Chief Executive Officer of IMI and Engineer Soror Basalom the Bahri Logistics President signed the agreement during the ongoing Saudi Maritime Congress 2022 in Dammam. Under the agreement IMI will leverage Bahri Logistics expertise to operate and manage three warehouses and a total of 33 stores across its yard in Ras Al Khair Saudi A...
Around 400 professionals are expected to take part in IRECMS Dubai a global event series committed to lifting the benchmark of real estate management around the world which will be held from December 6 to 9. Organized by Plan3Media Event Management the four-day event marks IRECMS return to Dubai after the Madrid Riyadh Bahrain and Mumbai series which reinforced its stature as the largest and most famed association of its kind. IRECMS Dubai is supported by MYBOS as the Presenting Sponsor and Provis as the Association Sponsor. IRECMS Dubai is set to be held at the Address Marina Dubai Hotel where global stalwarts in the real estate community facilities property and asset management domains are expected to gather. Dubai s pre-eminence as a strategic hub for innovation and industry-best practices adds to IRECMS&#...
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Around 400 professionals are expected to take part in IRECMS Dubai a global event series committed to lifting the benchmark of real estate management around the world which will be held from December 6 to 9. Organized by Plan3Media Event Management the four-day event marks IRECMS return to Dubai after the Madrid Riyadh Bahrain and Mumbai series which reinforced its stature as the largest and most famed association of its kind. IRECMS Dubai is supported by MYBOS as the Presenting Sponsor and Provis as the Association Sponsor. IRECMS Dubai is set to be held at the Address Marina Dubai Hotel where global stalwarts in the real estate community facilities property and asset management domains are expected to gather. Dubai s pre-eminence as a strategic hub for innovation and industry-best practices adds to IRECMS&#...
UAE-based Azizi Developments has reached new milestones in the construction of Riviera its French Mediterranean-inspired waterfront community in the heart of MBR City in the midst of Dubai s business leisure and retail hubs. Giving a project update Azizi said the first phase has recorded a total construction completion of 98% while the second third and fourth phases stand at 90% 65% and 21% completion rate respectively. The expected completion dates range between Q3 2022 and Q4 2024 it added. Riviera is a stylish waterfront-lifestyle destination that is planned to comprise 71 mid-rise buildings with approximately 16 000 residences. CEO Farhad Azizi said: It is rewarding to see our efforts in ensuring construction speed and quality pay off. By carefully choosing our contractors and suppliers and by procuring construction ma...
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UAE-based Azizi Developments has reached new milestones in the construction of Riviera its French Mediterranean-inspired waterfront community in the heart of MBR City in the midst of Dubai s business leisure and retail hubs. Giving a project update Azizi said the first phase has recorded a total construction completion of 98% while the second third and fourth phases stand at 90% 65% and 21% completion rate respectively. The expected completion dates range between Q3 2022 and Q4 2024 it added. Riviera is a stylish waterfront-lifestyle destination that is planned to comprise 71 mid-rise buildings with approximately 16 000 residences. CEO Farhad Azizi said: It is rewarding to see our efforts in ensuring construction speed and quality pay off. By carefully choosing our contractors and suppliers and by procuring construction ma...
CarbonZero Alternative Fuels and Raw Materials Global Conference and Exhibition 2022 partners with Zero - Association for the Sustainability of the Earth System for a program focused on the decarbonisation of the cement and concrete industry. The event brings together C executives and decision-makers from cement manufacturing companies equipment and technology producers as well as innovation research and development and environmental professional together to find solutions for decreasing the CO2 footprint from the cement and construction industries. The CarbonZero event is taking place at Pestana Palace Hotel and National Monument Lisbon Portugal on the 10th and 11th November 2022. Portugal s cement industry has been calculating its net CO2 emissions to become an entirely carbon-neutral sector. The cement and construction industries are among the highest CO2 emis...
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CarbonZero Alternative Fuels and Raw Materials Global Conference and Exhibition 2022 partners with Zero - Association for the Sustainability of the Earth System for a program focused on the decarbonisation of the cement and concrete industry. The event brings together C executives and decision-makers from cement manufacturing companies equipment and technology producers as well as innovation research and development and environmental professional together to find solutions for decreasing the CO2 footprint from the cement and construction industries. The CarbonZero event is taking place at Pestana Palace Hotel and National Monument Lisbon Portugal on the 10th and 11th November 2022. Portugal s cement industry has been calculating its net CO2 emissions to become an entirely carbon-neutral sector. The cement and construction industries are among the highest CO2 emis...
Altrad RMD Kwikform a leading provider of formwork falsework and ground shoring solutions is advising the construction industry to consider alternatives to structural steel for excavations given the current volatility in price. With over 70 years engineering experience ARMDK operates in 15 countries around the world while servicing many more through its export teams. Working closely with the entire supply chain ARMDK has global experience working with businesses at each stage of the construction process with key markets including the UK Australia India and the Middle East. Business Development Manager Peter Atkinson said: We have seen the price of steel fluctuate wildly over the past year or so and what used to be a predictable market has now become volatile driven by the cost of energy and supply chain issues. ...
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Altrad RMD Kwikform a leading provider of formwork falsework and ground shoring solutions is advising the construction industry to consider alternatives to structural steel for excavations given the current volatility in price. With over 70 years engineering experience ARMDK operates in 15 countries around the world while servicing many more through its export teams. Working closely with the entire supply chain ARMDK has global experience working with businesses at each stage of the construction process with key markets including the UK Australia India and the Middle East. Business Development Manager Peter Atkinson said: We have seen the price of steel fluctuate wildly over the past year or so and what used to be a predictable market has now become volatile driven by the cost of energy and supply chain issues. ...
Global supply chain and logistics leaders across industries will share critical insights on navigating The Road to Sustainable and Cost-efficient Logistics at Limitless Summit 2022 on September 20. The virtual logistics summit will be hosted by Shipsy a leading SaaS-based logistics management solution provider. The Limitless Summit is an influential gathering of leading global logistics supply chain and operations professionals which delves deep into the limitless opportunities within the logistics universe. It is designed to build a community of industry leaders and experts to enable an open forum for sharing knowledge key trends and best practices that drive better decision-making and accelerated business performance in a rapidly evolving logistics ecosystem a statement from the company said. Over 500 delegates from 350 organizations joined the previous edition of the event. The speaker lis...
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Global supply chain and logistics leaders across industries will share critical insights on navigating The Road to Sustainable and Cost-efficient Logistics at Limitless Summit 2022 on September 20. The virtual logistics summit will be hosted by Shipsy a leading SaaS-based logistics management solution provider. The Limitless Summit is an influential gathering of leading global logistics supply chain and operations professionals which delves deep into the limitless opportunities within the logistics universe. It is designed to build a community of industry leaders and experts to enable an open forum for sharing knowledge key trends and best practices that drive better decision-making and accelerated business performance in a rapidly evolving logistics ecosystem a statement from the company said. Over 500 delegates from 350 organizations joined the previous edition of the event. The speaker lis...
Leading French alternative investment fund manager Inovalis has announced that it has successfully closed its ninth transaction globally and the first US transaction of 2022 on behalf of the Global Wakala Trust Programme in partnership with Investment House the sole distributor of the shariah-compliant programme in Qatar. The programme is being actively managed by Inovalis since 2019 with nearly 120 million under management. This latest transaction comprises a real estate portfolio of high-quality assets focused on community centres in affluent neighbourhoods with long leases in various locations in the US said a statement from Inovalis. The first asset is in Phoenix Arizona ideally situated along Peoria Avenue a major east/west highway that connects Central Phoenix to Surprise. Over recent years the area has become a highly sought-after submarket for retaile...
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Leading French alternative investment fund manager Inovalis has announced that it has successfully closed its ninth transaction globally and the first US transaction of 2022 on behalf of the Global Wakala Trust Programme in partnership with Investment House the sole distributor of the shariah-compliant programme in Qatar. The programme is being actively managed by Inovalis since 2019 with nearly 120 million under management. This latest transaction comprises a real estate portfolio of high-quality assets focused on community centres in affluent neighbourhoods with long leases in various locations in the US said a statement from Inovalis. The first asset is in Phoenix Arizona ideally situated along Peoria Avenue a major east/west highway that connects Central Phoenix to Surprise. Over recent years the area has become a highly sought-after submarket for retaile...
Real estate and properties transactions valued at AED9.4 billion ( 2.56 billion) in total were conducted during the week ending September 9 figures by the Dubai Land Department revealed. The sum of transactions was 2 594 said a wam news agency report. A total of 209 plots and 871 apartments and villas were sold for AED946.55 million and AED 3.92 billion respectively. The top three transactions were a land in Island 2 sold for AED46.5 million followed by a land that was sold for AED26 million in Al Barshaa South Third and a land sold for AED46.5 million in Island 2 in third place. Al Hebiah Fifth recorded the most transactions for this week by 78 sales transactions worth AED195.97 million followed by Nad Al Shiba First with 25 sales transactions worth AED146.24 million and Jabal Ali First with 24 sales transactions worth AED89 million in...
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Real estate and properties transactions valued at AED9.4 billion ( 2.56 billion) in total were conducted during the week ending September 9 figures by the Dubai Land Department revealed. The sum of transactions was 2 594 said a wam news agency report. A total of 209 plots and 871 apartments and villas were sold for AED946.55 million and AED 3.92 billion respectively. The top three transactions were a land in Island 2 sold for AED46.5 million followed by a land that was sold for AED26 million in Al Barshaa South Third and a land sold for AED46.5 million in Island 2 in third place. Al Hebiah Fifth recorded the most transactions for this week by 78 sales transactions worth AED195.97 million followed by Nad Al Shiba First with 25 sales transactions worth AED146.24 million and Jabal Ali First with 24 sales transactions worth AED89 million in...
Maersk Kanoo UAE the global integrated logistics company today signed an agreement with Dubai South the largest single-urban master development focusing on aviation logistics and real estate for its new warehousing and distribution (W&D) facility in Dubai. The agreement was signed by Christopher Cook Managing Director Maersk UAE and Mohsen Ahmad CEO of the Logistics District Dubai South at the regional headquarters of Maersk West & Central Asia in Dubai. The 162 000 sq ft Maersk Integrated Logistics Centre DWC facility in the Dubai South Logistics District will have a capacity to cater to 15 000 pallet positions and 10 000 bin locations; it will also serve as an e-fulfilment centre. Ocean shipping as well as inbound logistics and distribution have traditionally been shared among multiple stakeholders in the Middle East resulting in complex l...
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Maersk Kanoo UAE the global integrated logistics company today signed an agreement with Dubai South the largest single-urban master development focusing on aviation logistics and real estate for its new warehousing and distribution (W&D) facility in Dubai. The agreement was signed by Christopher Cook Managing Director Maersk UAE and Mohsen Ahmad CEO of the Logistics District Dubai South at the regional headquarters of Maersk West & Central Asia in Dubai. The 162 000 sq ft Maersk Integrated Logistics Centre DWC facility in the Dubai South Logistics District will have a capacity to cater to 15 000 pallet positions and 10 000 bin locations; it will also serve as an e-fulfilment centre. Ocean shipping as well as inbound logistics and distribution have traditionally been shared among multiple stakeholders in the Middle East resulting in complex l...
The total value of real estate and infrastructure projects since the launch of Saudi Arabia s National Transformation Plan in 2016 has crossed 1.1 trillion according to global real estate consultancy Knight Frank. Faisal Durrani Partner Head of Middle East Research said: A bold new vision is unfolding in Saudi Arabia. The phenomenal transformation taking place in the world s fastest growing economy is clearly visible across the entire urban landscape. With over 555 000 residential units more than 275 000 hotel keys in excess of 4.3 million sq m of retail space and over 6.1 million sq m of new office space expected by 2030 the planned construction in the Kingdom will easily make Saudi Arabia the largest construction site the world has ever known. What s more healthcare education and wellbeing sit at the core of the transformative plans which will contribute to an ex...
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The total value of real estate and infrastructure projects since the launch of Saudi Arabia s National Transformation Plan in 2016 has crossed 1.1 trillion according to global real estate consultancy Knight Frank. Faisal Durrani Partner Head of Middle East Research said: A bold new vision is unfolding in Saudi Arabia. The phenomenal transformation taking place in the world s fastest growing economy is clearly visible across the entire urban landscape. With over 555 000 residential units more than 275 000 hotel keys in excess of 4.3 million sq m of retail space and over 6.1 million sq m of new office space expected by 2030 the planned construction in the Kingdom will easily make Saudi Arabia the largest construction site the world has ever known. What s more healthcare education and wellbeing sit at the core of the transformative plans which will contribute to an ex...
Construction has begun on Bahrain s Address Residences Marassi Vista a one-of-a-kind concept which is home to over 200 luxury units ranging from studios to 3-bedroom apartments and designed to meet the expectations of guests. Kicking-off with initial excavation works and sheet piles installations the 10-storey building consists of two basements a ground floor a podium eight floors and a rooftop with a built-up area of 33 756 sq m Eagle Hills Diyar (EHD) the pioneer behind the iconic Marassi Al Bahrain development announced. Main contractors Al Ghanah Group are working hand-in-hand with the project s lead consultant U A alongside sub-consultant Gulf House Engineering (GHE) towards a target completion date of the second quarter of 2024. Stunning sea view Marassi Vista will b...
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Construction has begun on Bahrain s Address Residences Marassi Vista a one-of-a-kind concept which is home to over 200 luxury units ranging from studios to 3-bedroom apartments and designed to meet the expectations of guests. Kicking-off with initial excavation works and sheet piles installations the 10-storey building consists of two basements a ground floor a podium eight floors and a rooftop with a built-up area of 33 756 sq m Eagle Hills Diyar (EHD) the pioneer behind the iconic Marassi Al Bahrain development announced. Main contractors Al Ghanah Group are working hand-in-hand with the project s lead consultant U A alongside sub-consultant Gulf House Engineering (GHE) towards a target completion date of the second quarter of 2024. Stunning sea view Marassi Vista will b...
Saudi Arabia s Public Investment Fund (PIF) has launched the National Real Estate Registration Services Company (RER) which aims to contribute to the digitisation and development of the local real estate sector through a comprehensive digital platform. The initiative is launched in cooperation with the Real Estate General Authority and other government entities. RER aims to develop a digital platform to build a comprehensive real estate registration database covering all data of units of property in Saudi Arabia. The company will also provide property registration services according to best-in-field practices. It also aims to improve the quality of services and access for beneficiaries by developing procedures and mechanisms for registration. The company will adopt digital solutions to create a real estate registration database that includes public commercial residential and agricultural units and their geolocation data. This m...
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Saudi Arabia s Public Investment Fund (PIF) has launched the National Real Estate Registration Services Company (RER) which aims to contribute to the digitisation and development of the local real estate sector through a comprehensive digital platform. The initiative is launched in cooperation with the Real Estate General Authority and other government entities. RER aims to develop a digital platform to build a comprehensive real estate registration database covering all data of units of property in Saudi Arabia. The company will also provide property registration services according to best-in-field practices. It also aims to improve the quality of services and access for beneficiaries by developing procedures and mechanisms for registration. The company will adopt digital solutions to create a real estate registration database that includes public commercial residential and agricultural units and their geolocation data. This m...
The Saudi Real Estate Refinance Company (SRC) a wholly-owned unit of the kingdom s sovereign wealth fund Public Investment Fund (PIF) said it has signed an agreement with Alinma Bank a leading financial institution in the kingdom to acquire one of its real estate financing portfolios. This agreement completes the onboarding of all major mortgage providers in the kingdom by SRC further highlighting the company s role in supporting the development of a robust efficient and liquid secondary market and underpinning the advancement of the financial services sector said the statement from the company. Through partnerships with major banks and mortgage providers in the kingdom SRC has acquired in excess of SR20 billion ( 5.32 billion) in refinancing assets. It reflects the ongoing efforts by SRC to continue to play an active support role to further develop the re...
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The Saudi Real Estate Refinance Company (SRC) a wholly-owned unit of the kingdom s sovereign wealth fund Public Investment Fund (PIF) said it has signed an agreement with Alinma Bank a leading financial institution in the kingdom to acquire one of its real estate financing portfolios. This agreement completes the onboarding of all major mortgage providers in the kingdom by SRC further highlighting the company s role in supporting the development of a robust efficient and liquid secondary market and underpinning the advancement of the financial services sector said the statement from the company. Through partnerships with major banks and mortgage providers in the kingdom SRC has acquired in excess of SR20 billion ( 5.32 billion) in refinancing assets. It reflects the ongoing efforts by SRC to continue to play an active support role to further develop the re...
Jeddah Central Development Company a wholly-owned unit of Saudi wealth fund Public Investment Fund (PIF) has begun construction work on the 20-billion Jeddah Central Project which will create a global destination in the heart of Jeddah according to a Saudi Press Agency (SPA) report. The mega project previously known as New Jeddah Downtown is being developed on a 5.7-million-sq-m plot of land overlooking the Red Sea in a strategic area between Al Salam Palace and a desalination plant. The master developer said the contract includes the implementation of infrastructure and marine works demolition of 400 buildings and infrastructure in the first stage and the re-routing of infrastructure services which include electrical ground installations sewage pipes and water supply with a total length of 6.5 km. JCDC added that there will be reclamation and offshore dri...
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Jeddah Central Development Company a wholly-owned unit of Saudi wealth fund Public Investment Fund (PIF) has begun construction work on the 20-billion Jeddah Central Project which will create a global destination in the heart of Jeddah according to a Saudi Press Agency (SPA) report. The mega project previously known as New Jeddah Downtown is being developed on a 5.7-million-sq-m plot of land overlooking the Red Sea in a strategic area between Al Salam Palace and a desalination plant. The master developer said the contract includes the implementation of infrastructure and marine works demolition of 400 buildings and infrastructure in the first stage and the re-routing of infrastructure services which include electrical ground installations sewage pipes and water supply with a total length of 6.5 km. JCDC added that there will be reclamation and offshore dri...
About 55% construction of the Falcon Interchange Improvement Project part of the Al Shindagha corridor - one of the biggest projects currently undertaken by Dubai s Roads and Transport Authority (RTA) - has been completed. The interchange part of bridges and tunnels extending 2 500 m is situated between Al Khaleej Street Khalid bin Al Waleed Street and Al Ghubaiba Street. The project links with the northern side of the Infinity Bridge (Al Shindagha Bridge). The contractor has completed the construction works of the main Northern bridge at the junction the link with the Infinity Bridge and Deira side of Al Shindagha Tunnel and the link with the improved junctions of Sheikh Rashid Street. Some 25% of the construction has been completed in the tunnel from Khalid bin Al Waleed Street to Al Mina Street. Construction is under way on the Southern main br...
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About 55% construction of the Falcon Interchange Improvement Project part of the Al Shindagha corridor - one of the biggest projects currently undertaken by Dubai s Roads and Transport Authority (RTA) - has been completed. The interchange part of bridges and tunnels extending 2 500 m is situated between Al Khaleej Street Khalid bin Al Waleed Street and Al Ghubaiba Street. The project links with the northern side of the Infinity Bridge (Al Shindagha Bridge). The contractor has completed the construction works of the main Northern bridge at the junction the link with the Infinity Bridge and Deira side of Al Shindagha Tunnel and the link with the improved junctions of Sheikh Rashid Street. Some 25% of the construction has been completed in the tunnel from Khalid bin Al Waleed Street to Al Mina Street. Construction is under way on the Southern main br...
Logistics Gulf News a fast-growing logistics news media platform strengthens its commitment to cater to the needs of the logistics and supply chain businesses in the region with the announcement of the Landmarks in Logistics Awards 2022. The publication will be hosting the prestigious awards set to take place on September 22 at the Address Dubai Mall Hotel. The awards present the leading companies within the logistics and supply chain industry with an opportunity to showcase their success and achievements. The award categories expand across last mile deliveries sustainability air freight operations seaport logistics and eCommerce platforms among others while recognising enterprise individuals and sustainability efforts. Four categories Nominees are eligible to sign up for no more than four award categories out of the 19 careful...
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Logistics Gulf News a fast-growing logistics news media platform strengthens its commitment to cater to the needs of the logistics and supply chain businesses in the region with the announcement of the Landmarks in Logistics Awards 2022. The publication will be hosting the prestigious awards set to take place on September 22 at the Address Dubai Mall Hotel. The awards present the leading companies within the logistics and supply chain industry with an opportunity to showcase their success and achievements. The award categories expand across last mile deliveries sustainability air freight operations seaport logistics and eCommerce platforms among others while recognising enterprise individuals and sustainability efforts. Four categories Nominees are eligible to sign up for no more than four award categories out of the 19 careful...
Bahri Logistics will provide a full spectrum of logistics solutions which includes customs clearance assistance storage provisions and world-class delivery services following a partnership with channels by stc. Bahri Logistics is a business unit of Bahri a global leader in logistics and transportation and channels by stc is the exclusive sales and distribution arm of stc group with operations in Saudi Arabia Kuwait Bahrain and Oman. The contract was signed by Soror Basalom President of Bahri Logistics and Ali Alhudhayf Acting VP of Human Resources and Logistics Support at channels by stc. Highest standard Basalom said: Bahri s selection for this significant contract underlines our reputation for providing services of the highest standard across a broad range of industries including the ...
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Bahri Logistics will provide a full spectrum of logistics solutions which includes customs clearance assistance storage provisions and world-class delivery services following a partnership with channels by stc. Bahri Logistics is a business unit of Bahri a global leader in logistics and transportation and channels by stc is the exclusive sales and distribution arm of stc group with operations in Saudi Arabia Kuwait Bahrain and Oman. The contract was signed by Soror Basalom President of Bahri Logistics and Ali Alhudhayf Acting VP of Human Resources and Logistics Support at channels by stc. Highest standard Basalom said: Bahri s selection for this significant contract underlines our reputation for providing services of the highest standard across a broad range of industries including the ...
The Saudi Real Estate Refinance Company (SRC) wholly owned by the Public Investment Fund has signed an agreement with Riyad Bank to acquire a SR500 million ( 133.13 million) real estate financing portfolio. The agreement between SRC and Riyad Bank is the second largest mortgage refinancing deal in the kingdom. It was signed by Fabrice Susini CEO of SRC and Tareq Al-Sadhan CEO of Riyad Bank in the presence of Majid bin Abdullah Al Hogail Minister of Municipal and Rural Affairs and Housing and Abdullah bin Mohammed Al-Issa the Chairman of the Board of Directors at Riyad Bank. Susini stated that the agreement is part of SRC s continued drive to expand and strengthen its partnerships with leading banks and lenders in the kingdom. Liquidity and risk management He added: Through these agreements ...
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The Saudi Real Estate Refinance Company (SRC) wholly owned by the Public Investment Fund has signed an agreement with Riyad Bank to acquire a SR500 million ( 133.13 million) real estate financing portfolio. The agreement between SRC and Riyad Bank is the second largest mortgage refinancing deal in the kingdom. It was signed by Fabrice Susini CEO of SRC and Tareq Al-Sadhan CEO of Riyad Bank in the presence of Majid bin Abdullah Al Hogail Minister of Municipal and Rural Affairs and Housing and Abdullah bin Mohammed Al-Issa the Chairman of the Board of Directors at Riyad Bank. Susini stated that the agreement is part of SRC s continued drive to expand and strengthen its partnerships with leading banks and lenders in the kingdom. Liquidity and risk management He added: Through these agreements ...
The value of construction contracts in the UAE emirate of Ajman exceeded AED2.1 billion ( 571.72 million) in the first half of 2022 higher than during the same period in the two previous years. In 2020 construction contracts were valued at AED800 million and in 2021 it was AED1.9 billion said a WAM news agency report quoting data released by the Department of Municipality and Planning in Ajman. Abdul Rahman Mohammed Al Nuaimi Director-General of the Department stressed that construction contracts in the emirate rose in value by 11 per cent compared to the two previous years underscoring the confidence of residents and project owners. Eng Khalifa Abdullah Al Falasi Director of the Buildings Administration at the Department said construction licences registered an increase in the first half of 2022 amounting to 2 376 compared to 2 187 in 2021 and 1 659 in 2020. ...
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The value of construction contracts in the UAE emirate of Ajman exceeded AED2.1 billion ( 571.72 million) in the first half of 2022 higher than during the same period in the two previous years. In 2020 construction contracts were valued at AED800 million and in 2021 it was AED1.9 billion said a WAM news agency report quoting data released by the Department of Municipality and Planning in Ajman. Abdul Rahman Mohammed Al Nuaimi Director-General of the Department stressed that construction contracts in the emirate rose in value by 11 per cent compared to the two previous years underscoring the confidence of residents and project owners. Eng Khalifa Abdullah Al Falasi Director of the Buildings Administration at the Department said construction licences registered an increase in the first half of 2022 amounting to 2 376 compared to 2 187 in 2021 and 1 659 in 2020. ...
Eagle Hills Diyar the pioneer behind the iconic Marassi Al Bahrain has said the fast-selling Marassi Park a residential development on the Grand Boulevard has reached 40% of construction with completion set for end of Q3 2023. The Marassi Park project has established initial construction works with enabling work encompassing site preparation access routes and the raft foundation. The 10-storey building is currently casted up to level 9 with an estimated completion of the superstructure by the end of June 2022. The blockwork aluminium and mechanical electrical and plumbing (MEP) works are currently in progress and a mock-up will be ready by end of August 2022. The total site area will cover 7 333 sq m and a gross floor area (GFA) of 25 500 sq m. Total of 249 units Designed by Gulf House Engineering...
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Eagle Hills Diyar the pioneer behind the iconic Marassi Al Bahrain has said the fast-selling Marassi Park a residential development on the Grand Boulevard has reached 40% of construction with completion set for end of Q3 2023. The Marassi Park project has established initial construction works with enabling work encompassing site preparation access routes and the raft foundation. The 10-storey building is currently casted up to level 9 with an estimated completion of the superstructure by the end of June 2022. The blockwork aluminium and mechanical electrical and plumbing (MEP) works are currently in progress and a mock-up will be ready by end of August 2022. The total site area will cover 7 333 sq m and a gross floor area (GFA) of 25 500 sq m. Total of 249 units Designed by Gulf House Engineering...
A total of 2 433 real estate transactions worth AED9.7 billion ( 2.64 billion) were conducted during the week ending August 12 2022 in Dubai according to figures released by the Dubai Land Department. A total of 326 plots were sold for AED1.64 billion while 1 567 apartments and villas were purchased for AED3.12 billion said a Wam news agency report. The top three transactions were a land plot in Nadd Hessa sold for AED352.41 million followed by another sold for AED90 million on Island 2 and one sold for AED42 million in Al Hebiah Fourth. Al Hebiah Fifth recorded the most transactions for this week registering 214 sales transactions worth AED595.16 million followed by Jabal Ali First with 39 sales transactions worth AED164.29 million and Al Yufrah 2 with 26 sales transactions worth AED33 million in third place. Sixty-six properties were...
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A total of 2 433 real estate transactions worth AED9.7 billion ( 2.64 billion) were conducted during the week ending August 12 2022 in Dubai according to figures released by the Dubai Land Department. A total of 326 plots were sold for AED1.64 billion while 1 567 apartments and villas were purchased for AED3.12 billion said a Wam news agency report. The top three transactions were a land plot in Nadd Hessa sold for AED352.41 million followed by another sold for AED90 million on Island 2 and one sold for AED42 million in Al Hebiah Fourth. Al Hebiah Fifth recorded the most transactions for this week registering 214 sales transactions worth AED595.16 million followed by Jabal Ali First with 39 sales transactions worth AED164.29 million and Al Yufrah 2 with 26 sales transactions worth AED33 million in third place. Sixty-six properties were...
Dubai recorded in July 7 092 realty sales transactions worth AED21 billion ( 5.72 billion) which is the best start for the second half of the year in the past 12 years according to Property Finder Mena s leading PropTech firm. Comparing year-on-year performance the total sales transactions volume jumped 63.56% over July 2021 at 41.16% compared to July s volume peak in 2013. Additionally the value increased significantly by 88.41% compared to 2021 and 58.27% in comparison to 2013. In July 59% of all sales transactions were for the secondary/ready property while 41% were for off-plan properties. Considering the transactional volume the secondary/ready market transacted 4 184 presenting a significant volume increase of 61.17% compared to July 2021 and around 91.47% in terms of value. The Off-plan market also transacted 2 908 recording an increase of 67.13% compared to July 2021 and around 81.43%...
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Dubai recorded in July 7 092 realty sales transactions worth AED21 billion ( 5.72 billion) which is the best start for the second half of the year in the past 12 years according to Property Finder Mena s leading PropTech firm. Comparing year-on-year performance the total sales transactions volume jumped 63.56% over July 2021 at 41.16% compared to July s volume peak in 2013. Additionally the value increased significantly by 88.41% compared to 2021 and 58.27% in comparison to 2013. In July 59% of all sales transactions were for the secondary/ready property while 41% were for off-plan properties. Considering the transactional volume the secondary/ready market transacted 4 184 presenting a significant volume increase of 61.17% compared to July 2021 and around 91.47% in terms of value. The Off-plan market also transacted 2 908 recording an increase of 67.13% compared to July 2021 and around 81.43%...
Mubadala Capital the asset management subsidiary of Mubadala Investment Company has announced the entry into a definitive agreement to acquire Canada Cartage a leading logistics platform. Canada Cartage provides dedicated national fleet solutions general freight services managed transportation fulfilment and distribution and home delivery services to some of Canada s largest blue-chip companies in the grocery food retail and e-commerce sectors reported Emirates News Agency WAM. Canada Cartage currently operates through a network of 33 facilities across Canada and is comprised of two business segments Dedicated Transportation and Logistics. The Dedicated Transportation business provides its customers with expert management of their transportation needs allowing them to realise cost efficiencies and reallocate resources towards core operations. This segment secures essential transportation and distribution services that...
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Mubadala Capital the asset management subsidiary of Mubadala Investment Company has announced the entry into a definitive agreement to acquire Canada Cartage a leading logistics platform. Canada Cartage provides dedicated national fleet solutions general freight services managed transportation fulfilment and distribution and home delivery services to some of Canada s largest blue-chip companies in the grocery food retail and e-commerce sectors reported Emirates News Agency WAM. Canada Cartage currently operates through a network of 33 facilities across Canada and is comprised of two business segments Dedicated Transportation and Logistics. The Dedicated Transportation business provides its customers with expert management of their transportation needs allowing them to realise cost efficiencies and reallocate resources towards core operations. This segment secures essential transportation and distribution services that...
Although women may be interested in real estate investment hesitation fear and lack of sufficient finance deter them from investing said real estate expert Walid Al Zarooni. Al Zarooni stated that women are actually away from investing in the real estate sector despite the great success they have achieved in other sectors as they have become successful managers doctors teachers engineers and businesswomen. However Al Zarooni noted women in general play a pivotal investment role in the real estate market. Men cannot deny that she is the main driver in pushing him to buy the house and in many cases the woman is the purchase decision maker not the man whether in case of making a new family or expansion of their house he said. Women s investments Official DLD data say women...
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Although women may be interested in real estate investment hesitation fear and lack of sufficient finance deter them from investing said real estate expert Walid Al Zarooni. Al Zarooni stated that women are actually away from investing in the real estate sector despite the great success they have achieved in other sectors as they have become successful managers doctors teachers engineers and businesswomen. However Al Zarooni noted women in general play a pivotal investment role in the real estate market. Men cannot deny that she is the main driver in pushing him to buy the house and in many cases the woman is the purchase decision maker not the man whether in case of making a new family or expansion of their house he said. Women s investments Official DLD data say women...
Saudi Arabia s general real estate price index for the second quarter of 2022 recorded a 0.7% increase compared to the same quarter of 2021 said data released by the General Authority for Statistics (GASTAT). The rise is mainly due to increase in residential real estate prices of 1.9% it said. Among other residential real estate the prices of villas apartments and houses decreased by 1.1% 1.1% and 0.9% respectively. However the prices of residential buildings stabilised and did not record any significant changes. The commercial sector recorded a 1.5% decrease impacted by the fall in the prices of commercial land plots by 1.5%. The prices of galleries also decreased by 1.1% while the prices of commercial centres increased by 0.1% the data said. -TradeArabia News Service ...
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Saudi Arabia s general real estate price index for the second quarter of 2022 recorded a 0.7% increase compared to the same quarter of 2021 said data released by the General Authority for Statistics (GASTAT). The rise is mainly due to increase in residential real estate prices of 1.9% it said. Among other residential real estate the prices of villas apartments and houses decreased by 1.1% 1.1% and 0.9% respectively. However the prices of residential buildings stabilised and did not record any significant changes. The commercial sector recorded a 1.5% decrease impacted by the fall in the prices of commercial land plots by 1.5%. The prices of galleries also decreased by 1.1% while the prices of commercial centres increased by 0.1% the data said. -TradeArabia News Service ...
Dubai s real estate market recorded a total of 8 897 sales transactions worth AED22.75 billion the highest volume of sales transactions for the month of June in the past nine years according to Mo asher Dubai s official sales price and rental performance index. June witnessed a 34 percent increase in terms of volume and a 24.8 percent increase in terms of value compared to May 2022. 60.05 percent of all sales transactions recorded were for secondary properties and 39.95 percent were for off-plan properties said a Wam news agency report. The off-plan market transacted 3 554 properties worth a total of AED7.057 billion and the secondary market transacted 5 343 properties worth AED15.692 billion. In comparison to the same period last month the number of off-plan transactions in June increased by 28.96 percent and the secondary/ready property transactions increased by 37.53 percent. ...
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Dubai s real estate market recorded a total of 8 897 sales transactions worth AED22.75 billion the highest volume of sales transactions for the month of June in the past nine years according to Mo asher Dubai s official sales price and rental performance index. June witnessed a 34 percent increase in terms of volume and a 24.8 percent increase in terms of value compared to May 2022. 60.05 percent of all sales transactions recorded were for secondary properties and 39.95 percent were for off-plan properties said a Wam news agency report. The off-plan market transacted 3 554 properties worth a total of AED7.057 billion and the secondary market transacted 5 343 properties worth AED15.692 billion. In comparison to the same period last month the number of off-plan transactions in June increased by 28.96 percent and the secondary/ready property transactions increased by 37.53 percent. ...
Prince Mohammed Bin Salman Nonprofit City has announced the start of construction of the iconic 105 000 sq m first phase Al Mishraq the City s central zone where businesses and residents will flourish. Al Mishraq will be the City s second largest zone spanning 680 000 sq m. The first phase of Al Mishraq will develop 105 000 sq m of retail residential incubator and office space along with an 8-screen 900-seat cinema and 1 500 underground smart parking spaces which will be integrated with the City s mobile app allowing drivers to search for the closest available parking space. It will become a diverse vibrant hub connecting the City with social activities and dynamic workplaces. Residential areas public amenities and flexible workplaces will be seamlessly integrated to create a vibrant work-live-play environment operating around the clock. span...
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Prince Mohammed Bin Salman Nonprofit City has announced the start of construction of the iconic 105 000 sq m first phase Al Mishraq the City s central zone where businesses and residents will flourish. Al Mishraq will be the City s second largest zone spanning 680 000 sq m. The first phase of Al Mishraq will develop 105 000 sq m of retail residential incubator and office space along with an 8-screen 900-seat cinema and 1 500 underground smart parking spaces which will be integrated with the City s mobile app allowing drivers to search for the closest available parking space. It will become a diverse vibrant hub connecting the City with social activities and dynamic workplaces. Residential areas public amenities and flexible workplaces will be seamlessly integrated to create a vibrant work-live-play environment operating around the clock. span...
Um Al-Qura Development and Construction Company owner and developer of Masar Destination and AlZamel Real Estate Development Company have signed an agreement under which AlZamel will become the owner of one of the luxury residential towers overlooking Masar Front. The value of the deal has been put at SR500 million ( 133.12 million). The signing of the agreement took place between Um Al-Qura Development and Construction Company s CEO Yasser Abuateek and AlZamel Real Estate Development Company Chairman Abdul Hamid Abdullah AlZamel. AlZamel said the acquisition is in line with the aspirations of AlZamel Real Estate Development as it is keen to provide the highest levels of real estate services and the development of luxury residential solutions. AlZamel company will be developing supreme residential apartments for sale that are wor...
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Um Al-Qura Development and Construction Company owner and developer of Masar Destination and AlZamel Real Estate Development Company have signed an agreement under which AlZamel will become the owner of one of the luxury residential towers overlooking Masar Front. The value of the deal has been put at SR500 million ( 133.12 million). The signing of the agreement took place between Um Al-Qura Development and Construction Company s CEO Yasser Abuateek and AlZamel Real Estate Development Company Chairman Abdul Hamid Abdullah AlZamel. AlZamel said the acquisition is in line with the aspirations of AlZamel Real Estate Development as it is keen to provide the highest levels of real estate services and the development of luxury residential solutions. AlZamel company will be developing supreme residential apartments for sale that are wor...
Trina Solar a leading global provider for photovoltaic (PV) modules and smart energy solutions held a ceremony marking the start of construction of the Trina Solar (Xining) New Energy Industrial Park project in Xining provincial capital of the central Chinese province of Qinghai. This marks the official start of construction of the project that will cover almost the entire PV manufacturing chain from polysilicon production to modules based on 210 and N-type technology the company said. The factory will include production lines with annual output of 300 000 tons of industrial silicon 150 000 tons of high-purity polysilicon 35GW of monosilicon 10GW of wafer slices 10GW of cells 10GW of modules and 15GW of auxiliaries for modules. The project will be divided into two phases. In phase I the expected annual output of industrial silicon will be 100 000 tons of high-purity polysilicon ...
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Trina Solar a leading global provider for photovoltaic (PV) modules and smart energy solutions held a ceremony marking the start of construction of the Trina Solar (Xining) New Energy Industrial Park project in Xining provincial capital of the central Chinese province of Qinghai. This marks the official start of construction of the project that will cover almost the entire PV manufacturing chain from polysilicon production to modules based on 210 and N-type technology the company said. The factory will include production lines with annual output of 300 000 tons of industrial silicon 150 000 tons of high-purity polysilicon 35GW of monosilicon 10GW of wafer slices 10GW of cells 10GW of modules and 15GW of auxiliaries for modules. The project will be divided into two phases. In phase I the expected annual output of industrial silicon will be 100 000 tons of high-purity polysilicon ...
Gulf Warehousing Company (GWC) Qatar s leading logistics and supply chain solutions provider has reported a net profit of QR114.8 million ( 31.53 milion) for the six-month (H1) period ending on June 30 2022. The company also achieved total revenues of QR719 million for the same period while Earnings Per Share stood at 0.20 Qatari Riyal for the 6-month-period ending June 30 2022. 2022 has started on a solid footing and with the much-awaited FIFA World Cup Qatar 2022 approaching GWC is geared up to offer unparalleled logistics services and redefine global industry benchmarks said Sheikh Abdulla Bin Fahad Bin Jassem Bin Jabor Al-Thani Chairman GWC. Client satisfaction and loyalty Ranjeev Menon Group CEO GWC remarked that client satisfaction and loyalty will always remain their top...
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Gulf Warehousing Company (GWC) Qatar s leading logistics and supply chain solutions provider has reported a net profit of QR114.8 million ( 31.53 milion) for the six-month (H1) period ending on June 30 2022. The company also achieved total revenues of QR719 million for the same period while Earnings Per Share stood at 0.20 Qatari Riyal for the 6-month-period ending June 30 2022. 2022 has started on a solid footing and with the much-awaited FIFA World Cup Qatar 2022 approaching GWC is geared up to offer unparalleled logistics services and redefine global industry benchmarks said Sheikh Abdulla Bin Fahad Bin Jassem Bin Jabor Al-Thani Chairman GWC. Client satisfaction and loyalty Ranjeev Menon Group CEO GWC remarked that client satisfaction and loyalty will always remain their top...
ZMI Holdings has announced that Adnoc Logistics & Services the shipping and maritime logistics arm of Adnoc Group has entered into definitive agreement to acquire ZMI. The transaction is subject to customary regulatory approvals and is expected to close in Q4 2022. ZMI owns and operates the world s largest active fleet of offshore jack-up barges complemented by a large fleet of offshore support vessels. This strategic combination with Adnoc L&S creates a unique platform for ZMI to accelerate its growth and expand its business footprint in the region and globally allowing it to capture new revenue opportunities and drive market consolidation said a statement. Adnoc L&S will benefit from ZMI s extensive capabilities its experience established over nearly four decades its fit-for-purpose fleet of over 60 vessels as well as its operational exc...
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ZMI Holdings has announced that Adnoc Logistics & Services the shipping and maritime logistics arm of Adnoc Group has entered into definitive agreement to acquire ZMI. The transaction is subject to customary regulatory approvals and is expected to close in Q4 2022. ZMI owns and operates the world s largest active fleet of offshore jack-up barges complemented by a large fleet of offshore support vessels. This strategic combination with Adnoc L&S creates a unique platform for ZMI to accelerate its growth and expand its business footprint in the region and globally allowing it to capture new revenue opportunities and drive market consolidation said a statement. Adnoc L&S will benefit from ZMI s extensive capabilities its experience established over nearly four decades its fit-for-purpose fleet of over 60 vessels as well as its operational exc...
Abu Dhabi s real estate market sustained growth driven by investor optimism recording 7 474 property transactions amounting to over AED22.51 billion ( 6.12 billion) according to a report released by the Department of Municipalities and Transport (DMT). The confidence among investors indicates the market s attractiveness and a sustainable growth trajectory stated the DMT in its half-yearly report that indicates that all kinds of land buildings and real estate were purchased sold and mortgaged. The DMT real estate trading index also shows 3 568 real estate purchase and sale transactions worth AED8.9 billion and 3 906 mortgage transactions worth AED13.61 billion. Abu Dhabi s leadership implemented several sound policies and strategic measures to achieve these results. Through constant and sustained growth in the real estate sector Abu Dhabi has maintain...
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Abu Dhabi s real estate market sustained growth driven by investor optimism recording 7 474 property transactions amounting to over AED22.51 billion ( 6.12 billion) according to a report released by the Department of Municipalities and Transport (DMT). The confidence among investors indicates the market s attractiveness and a sustainable growth trajectory stated the DMT in its half-yearly report that indicates that all kinds of land buildings and real estate were purchased sold and mortgaged. The DMT real estate trading index also shows 3 568 real estate purchase and sale transactions worth AED8.9 billion and 3 906 mortgage transactions worth AED13.61 billion. Abu Dhabi s leadership implemented several sound policies and strategic measures to achieve these results. Through constant and sustained growth in the real estate sector Abu Dhabi has maintain...
Kuwait s real estate sector continues to show promise and has mostly recovered from the major hit it had taken during the Covid-19 pandemic over the past two years and is currently accelerating albeit modest according to Kuwait Financial Centre (Markaz). The uptrend is driven mainly by increased transactions in the residential apartment and commercial real estate segments on the back of optimism over improvement in economic activity stated Markaz in its Kuwait Real Estate H2 2022 Outlook report. Strong macroeconomic fundamentals supported by rising oil prices and demand and a sustained rebound in the non-oil sector paint a positive outlook for the domestic property market it added. Developed and published with the aim of helping investors gain a deep understanding of the current state of the Kuwaiti real estate market the report was prepared by Marm...
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Kuwait s real estate sector continues to show promise and has mostly recovered from the major hit it had taken during the Covid-19 pandemic over the past two years and is currently accelerating albeit modest according to Kuwait Financial Centre (Markaz). The uptrend is driven mainly by increased transactions in the residential apartment and commercial real estate segments on the back of optimism over improvement in economic activity stated Markaz in its Kuwait Real Estate H2 2022 Outlook report. Strong macroeconomic fundamentals supported by rising oil prices and demand and a sustained rebound in the non-oil sector paint a positive outlook for the domestic property market it added. Developed and published with the aim of helping investors gain a deep understanding of the current state of the Kuwaiti real estate market the report was prepared by Marm...
Danube Home a key home furnishing brand in the region has joined hands with Saudi-based Masah Specialized Construction Company to set up an new venture in the kingdom that will develop multiple projects across educational hospitality and other key sectors. A unit of Dubai building material company Danube it operates in the lifestyle retail sector and has presence in more than 20 countries across the globe including Bahrain Qatar Kuwait Oman and Egypt. Officially established in 2006 Masah Construction has over the years completed a wide range of projects with specialisation in the health care sector utilizing the latest technical design applicable methods. As a solution provider in the home improvement sector with an in-house design and develop team offering affordable luxury Danube Home aims to add value to the projects undertaken by Masah Construction said a ...
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Danube Home a key home furnishing brand in the region has joined hands with Saudi-based Masah Specialized Construction Company to set up an new venture in the kingdom that will develop multiple projects across educational hospitality and other key sectors. A unit of Dubai building material company Danube it operates in the lifestyle retail sector and has presence in more than 20 countries across the globe including Bahrain Qatar Kuwait Oman and Egypt. Officially established in 2006 Masah Construction has over the years completed a wide range of projects with specialisation in the health care sector utilizing the latest technical design applicable methods. As a solution provider in the home improvement sector with an in-house design and develop team offering affordable luxury Danube Home aims to add value to the projects undertaken by Masah Construction said a ...
UAE-based National Petroleum Construction Company (NPCC) has joined forces with Technip Energies a leading engineering and technology company for energy transition to establish a new venture - NT Energies headquarted in Abu Dhabi that will offer added value services in hydrogen and related decarbonization projects and CO2 capture. A subsidiary of UAE-based National Marine Dredging company NPCC said the new company will support energy transition in the UAE the region and North Africa. The key objective is to provide added value services in blue and green hydrogen and related decarbonization projects CO2 capture in addition to industrial projects in the fields of waste-to-energy biorefining biochemistry as well as other energy transition related themes said the Emirati group in its statement. NT Energies will also provide onshore and offshore oil and gas fields and faciliti...
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UAE-based National Petroleum Construction Company (NPCC) has joined forces with Technip Energies a leading engineering and technology company for energy transition to establish a new venture - NT Energies headquarted in Abu Dhabi that will offer added value services in hydrogen and related decarbonization projects and CO2 capture. A subsidiary of UAE-based National Marine Dredging company NPCC said the new company will support energy transition in the UAE the region and North Africa. The key objective is to provide added value services in blue and green hydrogen and related decarbonization projects CO2 capture in addition to industrial projects in the fields of waste-to-energy biorefining biochemistry as well as other energy transition related themes said the Emirati group in its statement. NT Energies will also provide onshore and offshore oil and gas fields and faciliti...
The 3rd edition of Saudi Maritime Congress to be held in Dammam from September 28 to 29 is set to revolutionise the shipping and logistics sectors in the kingdom and the GCC. One of the kingdom s most influential gatherings of professionals from the maritime and logistics industry the much-awaited exhibition and conference has garnered great support from major regional and global companies such as Saudi Global Ports Co DP World ATCO Al Tamimi & Co Red Sea Gateway Terminal Ince Columbia Shipmanagement and Inmarsat among others. Enriching Saudi economy Saudi Arabia is currently experiencing a boom in the maritime sector due to several mega infrastructural land and sea projects in progress. The kingdom intends to issue 12 bids for investment in the development of its ports during 2022 as part of privatisation plans in its maritime...
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The 3rd edition of Saudi Maritime Congress to be held in Dammam from September 28 to 29 is set to revolutionise the shipping and logistics sectors in the kingdom and the GCC. One of the kingdom s most influential gatherings of professionals from the maritime and logistics industry the much-awaited exhibition and conference has garnered great support from major regional and global companies such as Saudi Global Ports Co DP World ATCO Al Tamimi & Co Red Sea Gateway Terminal Ince Columbia Shipmanagement and Inmarsat among others. Enriching Saudi economy Saudi Arabia is currently experiencing a boom in the maritime sector due to several mega infrastructural land and sea projects in progress. The kingdom intends to issue 12 bids for investment in the development of its ports during 2022 as part of privatisation plans in its maritime...
Etihad Rail the developer and operator of UAE s rail network has achieved a major construction milestone in the country s AED50 billion ( 13.6 billion) railways programme - the largest integrated system for transporting goods and passengers across the country - by successfully connecting Abu Dhabi s Khalifa Port to the mainland with the construction of the emirates first rail marine bridge. The UAE Railway Programme includes three key projects; the first is the Freight Rail which includes the Etihad Rail freight services. The second is the Rail Passenger Service that aims to connect 11 cities - starting from Al Sila to Fujairah. At a speed of 200 km/h the service will connect these cities within the UAE where passengers can travel from Abu Dhabi to Dubai in 50 minutes and from Abu Dhabi to Fujairah in 100 minutes. By 2030 the number of passengers is ...
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Etihad Rail the developer and operator of UAE s rail network has achieved a major construction milestone in the country s AED50 billion ( 13.6 billion) railways programme - the largest integrated system for transporting goods and passengers across the country - by successfully connecting Abu Dhabi s Khalifa Port to the mainland with the construction of the emirates first rail marine bridge. The UAE Railway Programme includes three key projects; the first is the Freight Rail which includes the Etihad Rail freight services. The second is the Rail Passenger Service that aims to connect 11 cities - starting from Al Sila to Fujairah. At a speed of 200 km/h the service will connect these cities within the UAE where passengers can travel from Abu Dhabi to Dubai in 50 minutes and from Abu Dhabi to Fujairah in 100 minutes. By 2030 the number of passengers is ...
Buoyed by strong macroeconomic fundamentals the real estate sector in GCC economies is on a solid trajectory to witness acceleration in the second half of the year said Kuwait Financial Centre (Markaz) in its latest Real Estate H2 2022 Outlook reports for the UAE and Saudi Arabia. Prepared by Marmore Mena Intelligence a fully owned subsidiary of Markaz based on the Markaz Real Estate Macro Index the reports help investors identify the current state of the GCC real estate market through various economic indicators such as oil and non-oil GDP growth inflation new job creation interest rate and population growth among others. In this report Markaz analyses the performance of subsectors such as residential office retail and hospitality during the first six months and delve into the impact of various new socioeconomic policies and real estate reforms and initiatives ...
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Buoyed by strong macroeconomic fundamentals the real estate sector in GCC economies is on a solid trajectory to witness acceleration in the second half of the year said Kuwait Financial Centre (Markaz) in its latest Real Estate H2 2022 Outlook reports for the UAE and Saudi Arabia. Prepared by Marmore Mena Intelligence a fully owned subsidiary of Markaz based on the Markaz Real Estate Macro Index the reports help investors identify the current state of the GCC real estate market through various economic indicators such as oil and non-oil GDP growth inflation new job creation interest rate and population growth among others. In this report Markaz analyses the performance of subsectors such as residential office retail and hospitality during the first six months and delve into the impact of various new socioeconomic policies and real estate reforms and initiatives ...
Gradiant a global solutions provider and developer for cleantech water said it has acquired WaterPark Environment Corp (WaterPark) a design and construction firm based in Taiwan focused on water technologies for advanced manufacturing in the high tech industries of semiconductor and microelectronics. Announcing the strategic move Gradiant said the acquisition strengthens its portfolio of proprietary technologies and applications expertise in industrial water specifically high-rate biological wastewater advanced oxidation and ultrapure water. Gradiant s full range of technologies and end-to-end solutions will also become accessible to the leading manufacturers of Taiwan s advanced industries that WaterPark serves. Existing semiconductor and microelectronics clients of the combined business include the world s most established brands such as Globa...
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Gradiant a global solutions provider and developer for cleantech water said it has acquired WaterPark Environment Corp (WaterPark) a design and construction firm based in Taiwan focused on water technologies for advanced manufacturing in the high tech industries of semiconductor and microelectronics. Announcing the strategic move Gradiant said the acquisition strengthens its portfolio of proprietary technologies and applications expertise in industrial water specifically high-rate biological wastewater advanced oxidation and ultrapure water. Gradiant s full range of technologies and end-to-end solutions will also become accessible to the leading manufacturers of Taiwan s advanced industries that WaterPark serves. Existing semiconductor and microelectronics clients of the combined business include the world s most established brands such as Globa...
Stratez Capital a boutique firm based in Singapore that focuses on assisting enterprises planning to elevate to the next phase of growth said it has entered into a strategic partnership agreement with British entrepreneur Safi Qurashi and his newly-formed company NewTek Holdings. The aim is to jointly develop real estate projects and commodity trading utilizing blockchain and Web3 technology said a statement from Stratez Capital. The deal comes as Middle East has been identified by NewTek as a priority market and the company is initially looking to focus on major real estate projects in Dubai. This is an exciting partnership and in line with the investment and strategy objectives of the company and we feel we can add huge value with our expertise and investments remarked Vik Pillai the Managing Partner at Stratez Capital. ...
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Stratez Capital a boutique firm based in Singapore that focuses on assisting enterprises planning to elevate to the next phase of growth said it has entered into a strategic partnership agreement with British entrepreneur Safi Qurashi and his newly-formed company NewTek Holdings. The aim is to jointly develop real estate projects and commodity trading utilizing blockchain and Web3 technology said a statement from Stratez Capital. The deal comes as Middle East has been identified by NewTek as a priority market and the company is initially looking to focus on major real estate projects in Dubai. This is an exciting partnership and in line with the investment and strategy objectives of the company and we feel we can add huge value with our expertise and investments remarked Vik Pillai the Managing Partner at Stratez Capital. ...
Construction output in North America is forecast to grow 2.4% in 2022 and is expected to reach 1.94 trillion up from 1.89 trillion in 2021 despite rising material prices and interest rate hikes says GlobalData. However the recovery is lower than expected found GlobalData a leading data and analytics company. Jack Riddleston Construction Analyst at GlobalData comments: The North American construction industry remained relatively stable over the course of the pandemic and was the only region to show positive growth in 2020. Growth was supported largely by the rapid expansion in the residential housing sector which made up for contractions in all other sectors. Where other regions grew rapidly in 2021 North America stagnated growing marginally as a contraction in the US was offset by high growth in Canada. According to GlobalData s report Global Construction Outlook to 2026 Q2...
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Construction output in North America is forecast to grow 2.4% in 2022 and is expected to reach 1.94 trillion up from 1.89 trillion in 2021 despite rising material prices and interest rate hikes says GlobalData. However the recovery is lower than expected found GlobalData a leading data and analytics company. Jack Riddleston Construction Analyst at GlobalData comments: The North American construction industry remained relatively stable over the course of the pandemic and was the only region to show positive growth in 2020. Growth was supported largely by the rapid expansion in the residential housing sector which made up for contractions in all other sectors. Where other regions grew rapidly in 2021 North America stagnated growing marginally as a contraction in the US was offset by high growth in Canada. According to GlobalData s report Global Construction Outlook to 2026 Q2...
The UAE real estate market s recovery from the Covid-19 pandemic is accelerating supported by improving economic performance fuelled by high oil prices as well as increasing relocations particularly from Russia according to a report by Fitch ratings. Nevertheless some sectors including the Dubai office market may take several years to fully recover due to oversupply it stated. The UAE real estate market was anaemic during the pandemic: Dubai s population fell by an estimated 8% in 2020 as many expatriates who comprise about 90% of the population had to leave after losing employment said the top ratings agency. Furthermore economic pressures affected the carbon and non-carbon sectors including travel hospitality and retail. However an effective vaccination programme led to one of the highest coronavirus inoculation rates globally allowing the cou...
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The UAE real estate market s recovery from the Covid-19 pandemic is accelerating supported by improving economic performance fuelled by high oil prices as well as increasing relocations particularly from Russia according to a report by Fitch ratings. Nevertheless some sectors including the Dubai office market may take several years to fully recover due to oversupply it stated. The UAE real estate market was anaemic during the pandemic: Dubai s population fell by an estimated 8% in 2020 as many expatriates who comprise about 90% of the population had to leave after losing employment said the top ratings agency. Furthermore economic pressures affected the carbon and non-carbon sectors including travel hospitality and retail. However an effective vaccination programme led to one of the highest coronavirus inoculation rates globally allowing the cou...
Turkey s trade deficit grew by 155.2% year-on-year (YoY) in May 2022 driven by a relative rise in the value of imports to exports owing primarily to a steep increase in the cost of imported energy. However strong demand for real estate is expected to partially offset the industry s weakness this year says GlobalData a leading data and analytics company. Joel Hanna Economist at GlobalData comments: Net exports from January to May 2022 fell by 136% compared to the same period in 2021 despite a rise in the value of exports by 20.4% driven by steel and iron exports and the government s push to turn the country s current account deficit into a surplus. However the rise in exports was offset by a 40.8% increase in the value of imports. High construction costs The difficu...
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Turkey s trade deficit grew by 155.2% year-on-year (YoY) in May 2022 driven by a relative rise in the value of imports to exports owing primarily to a steep increase in the cost of imported energy. However strong demand for real estate is expected to partially offset the industry s weakness this year says GlobalData a leading data and analytics company. Joel Hanna Economist at GlobalData comments: Net exports from January to May 2022 fell by 136% compared to the same period in 2021 despite a rise in the value of exports by 20.4% driven by steel and iron exports and the government s push to turn the country s current account deficit into a surplus. However the rise in exports was offset by a 40.8% increase in the value of imports. High construction costs The difficu...
Regional leader in design-build construction Group Amana has announced a new brand identity that showcases its capabilities. Now organised into three verticals: Construct Manufacture and Enhance the transformation reflects the group s offerings for an evolving business landscape and the drive to build cleaner greener and smarter said the statement from the company. Amana s revitalised brand identity is focused around a circle reflecting strength and harmony and speaks to its promise of delivering certainty. The new tagline We Build with You epitomises its strengths in collaboration and intelligence it added. Amana Investments President and CEO Riad Bsaibes said: Group AAmana has built a formidable reputation over three decades of operations in the region with our commitment to sustainability innovation and digitalisatio...
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Regional leader in design-build construction Group Amana has announced a new brand identity that showcases its capabilities. Now organised into three verticals: Construct Manufacture and Enhance the transformation reflects the group s offerings for an evolving business landscape and the drive to build cleaner greener and smarter said the statement from the company. Amana s revitalised brand identity is focused around a circle reflecting strength and harmony and speaks to its promise of delivering certainty. The new tagline We Build with You epitomises its strengths in collaboration and intelligence it added. Amana Investments President and CEO Riad Bsaibes said: Group AAmana has built a formidable reputation over three decades of operations in the region with our commitment to sustainability innovation and digitalisatio...
HanmiGlobal a leading South Korean construction project management company has secured a 44 billion won ( 34 million) order from Diriyah Gate Development Authority (DGDA) for a key project in Diriyah region of Saudi Arabia. DGDA plans to build luxury villas townhouses community centers resorts hospitals and shopping centers by spending around 20 billion in Diriyah the original home of the Saudi royal family which is located on the northwestern outskirts of the Middle Eastern kingdom s capital of Riyadh reported Korea Times. As per the deal HanmiGlobal said it will oversee the construction of residential and office buildings in the Diriyah South & Garden District. Last month the company won a 15.5 billion won order from Roshn a state-run real estate developer in Saudi Arabia to manage construction of a residential complex in Riyadh. ...
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HanmiGlobal a leading South Korean construction project management company has secured a 44 billion won ( 34 million) order from Diriyah Gate Development Authority (DGDA) for a key project in Diriyah region of Saudi Arabia. DGDA plans to build luxury villas townhouses community centers resorts hospitals and shopping centers by spending around 20 billion in Diriyah the original home of the Saudi royal family which is located on the northwestern outskirts of the Middle Eastern kingdom s capital of Riyadh reported Korea Times. As per the deal HanmiGlobal said it will oversee the construction of residential and office buildings in the Diriyah South & Garden District. Last month the company won a 15.5 billion won order from Roshn a state-run real estate developer in Saudi Arabia to manage construction of a residential complex in Riyadh. ...
Emirates Post Group (EPG) and Hub71 Abu Dhabi s global tech ecosystem have tied up to provide tech startups with greater opportunities to collaborate with EPG and advance the logistics sector using next-generation technologies. The partnership will focus on active collaborations with startups based at Hub71 and will facilitate meetings and introductions between EPG and founders who are driving smart businesses focused on increasing efficiency and productivity within the logistics industry. As part of the agreement EPG will also provide mentorship for startup founders and support the development of Proof of Concepts (POCs). EPG-backed startups will also gain the ability to join Hub71 s vibrant community. Backed by the Government of Abu Dhabi and Mubadala Investment Company Hub71 is growing its vibrant community of tech startups investors government and...
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Emirates Post Group (EPG) and Hub71 Abu Dhabi s global tech ecosystem have tied up to provide tech startups with greater opportunities to collaborate with EPG and advance the logistics sector using next-generation technologies. The partnership will focus on active collaborations with startups based at Hub71 and will facilitate meetings and introductions between EPG and founders who are driving smart businesses focused on increasing efficiency and productivity within the logistics industry. As part of the agreement EPG will also provide mentorship for startup founders and support the development of Proof of Concepts (POCs). EPG-backed startups will also gain the ability to join Hub71 s vibrant community. Backed by the Government of Abu Dhabi and Mubadala Investment Company Hub71 is growing its vibrant community of tech startups investors government and...
Saudi Arabia s contracting sector boasts a total of 165 000 companies ranging from small to medium and large enterprises reported SPA citing a top industry official. The total number of workers entering the contracting industry from various professions has surged to 3 million stated Engineer Zakaria bin Abdul Rahman Al Abdul Qader the Chairman of the Board of Directors of the Saudi Contractors Authority. Al Qader was speaking at an event organized by the Federation of Saudi Chambers to discuss the prospects for cooperation and the Authority s initiatives and services to organize and develop the contracting sector. It was also attended by Secretary-General of the Authority Engineer Thabet bin Mubarak Al Suwaid. Many jobs have been localized and work is underway with the legislatures to localize more he added. The ev...
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Saudi Arabia s contracting sector boasts a total of 165 000 companies ranging from small to medium and large enterprises reported SPA citing a top industry official. The total number of workers entering the contracting industry from various professions has surged to 3 million stated Engineer Zakaria bin Abdul Rahman Al Abdul Qader the Chairman of the Board of Directors of the Saudi Contractors Authority. Al Qader was speaking at an event organized by the Federation of Saudi Chambers to discuss the prospects for cooperation and the Authority s initiatives and services to organize and develop the contracting sector. It was also attended by Secretary-General of the Authority Engineer Thabet bin Mubarak Al Suwaid. Many jobs have been localized and work is underway with the legislatures to localize more he added. The ev...
Oman s Public Authority for Special Economic Zones and Free Zones (Opaz) has awarded the first phase of construction works of the National Road No. 32 located with the industrial zone. The road length is about 16 km and the first phase will start from the road in front of Duqm Refinery northwards and to the entrance of Duqm centre southwards. Yahya bin Khamis Al-Zadjali In Charge of managing the operations of Special Economic Zone at Duqm (Sezad) explained that the project to develop the first phase of the National Road No. 32 is an important traffic artery within the road network proposed for the comprehensive road development plan in Sezad as it connects those coming from the north of the zone to the centre the commercial district. It will serve the growing movement of people and cargo between strategic projects in the zone especially the Duqm Refinery project. Yahya added that the works of the first phase of the roa...
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Oman s Public Authority for Special Economic Zones and Free Zones (Opaz) has awarded the first phase of construction works of the National Road No. 32 located with the industrial zone. The road length is about 16 km and the first phase will start from the road in front of Duqm Refinery northwards and to the entrance of Duqm centre southwards. Yahya bin Khamis Al-Zadjali In Charge of managing the operations of Special Economic Zone at Duqm (Sezad) explained that the project to develop the first phase of the National Road No. 32 is an important traffic artery within the road network proposed for the comprehensive road development plan in Sezad as it connects those coming from the north of the zone to the centre the commercial district. It will serve the growing movement of people and cargo between strategic projects in the zone especially the Duqm Refinery project. Yahya added that the works of the first phase of the roa...
The Saudi Ports Authority (Mawani) today (June 19) signed an agreement with DP World a world leader in global supply chain solutions for the establishment of a new fully-integrated smart logistics park in Jeddah Islamic Port at an investment of over SR500 million ( 133 million). This is Mawani s fifth such deal following a series of agreements signed with local and global leading companies in maritime transport and logistics including Maersk CMA CGM LogiPoint and Bahri. The agreement was signed by President of the Saudi Ports Authority Omar bin Talal Hariri and Group Chairman and CEO of DP World and Sultan Ahmed Bin Sulayem in the presence of Minister of Transport and Logistic Services and Chairman of Mawani Engineer Saleh Al Jasser and several other leaders from the transport and logistics entity. Eng Al Jasser emphasized that this agreement aligns with the National Trans...
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The Saudi Ports Authority (Mawani) today (June 19) signed an agreement with DP World a world leader in global supply chain solutions for the establishment of a new fully-integrated smart logistics park in Jeddah Islamic Port at an investment of over SR500 million ( 133 million). This is Mawani s fifth such deal following a series of agreements signed with local and global leading companies in maritime transport and logistics including Maersk CMA CGM LogiPoint and Bahri. The agreement was signed by President of the Saudi Ports Authority Omar bin Talal Hariri and Group Chairman and CEO of DP World and Sultan Ahmed Bin Sulayem in the presence of Minister of Transport and Logistic Services and Chairman of Mawani Engineer Saleh Al Jasser and several other leaders from the transport and logistics entity. Eng Al Jasser emphasized that this agreement aligns with the National Trans...
Amazon has announced the launch of the latest iteration of its global Delivery Service Partner programme that empowers local entrepreneurs to set up and manage their own logistics businesses delivering Amazon packages. Saudi Arabia is the first country in the region to host the flagship programme which will be expanded to cover the MENA region at a later stage. Launched in collaboration with Monsha at the General Authority for SMEs it aims to establish more than 30 new local start-ups and create hundreds of job opportunities within the local logistics sector during the programme s first three years. The Delivery Service Partner programme was announced during a ceremony held at Monsha at s headquarters in Riyadh and attended by the Authority s Governor Eng Saleh Al-Rasheed and Ronaldo Mouchawar Vice President of Amazon MENA....
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Amazon has announced the launch of the latest iteration of its global Delivery Service Partner programme that empowers local entrepreneurs to set up and manage their own logistics businesses delivering Amazon packages. Saudi Arabia is the first country in the region to host the flagship programme which will be expanded to cover the MENA region at a later stage. Launched in collaboration with Monsha at the General Authority for SMEs it aims to establish more than 30 new local start-ups and create hundreds of job opportunities within the local logistics sector during the programme s first three years. The Delivery Service Partner programme was announced during a ceremony held at Monsha at s headquarters in Riyadh and attended by the Authority s Governor Eng Saleh Al-Rasheed and Ronaldo Mouchawar Vice President of Amazon MENA....
SAL Saudi Logistics Services (SAL) a member of Saudi Arabian Airlines Corporation has signed an exclusive partnership agreement with UK-based GCL International to provide specialized logistics services. The agreement was signed in London by Faisal bin Saad Al-Baddah Managing Director and CEO of SAL Saudi Arabia and Paul J Martins Chief Executive Officer and President of GCL International reported Saudi Press Agency (SPA). Under this agreement the two companies will provide specialized logistics services solutions to their customers in Saudi Arabia and around the world in the sectors of entertainment events sporting events culture arts and film and television production. This agreement will contribute to providing specialized logistics services to support these sectors and contribute to their expansion inside the Kingdom. Paul J Martins confirmed the support of GCL and its subsidiaries for major eve...
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SAL Saudi Logistics Services (SAL) a member of Saudi Arabian Airlines Corporation has signed an exclusive partnership agreement with UK-based GCL International to provide specialized logistics services. The agreement was signed in London by Faisal bin Saad Al-Baddah Managing Director and CEO of SAL Saudi Arabia and Paul J Martins Chief Executive Officer and President of GCL International reported Saudi Press Agency (SPA). Under this agreement the two companies will provide specialized logistics services solutions to their customers in Saudi Arabia and around the world in the sectors of entertainment events sporting events culture arts and film and television production. This agreement will contribute to providing specialized logistics services to support these sectors and contribute to their expansion inside the Kingdom. Paul J Martins confirmed the support of GCL and its subsidiaries for major eve...
The Thinkprop Real Estate Training Institute launched by Advanced Real Estate Services (ADRES) is set to host an online workshop on the Basics of Housing Construction . Set to take place on 15 June the workshop will be conducted by Engineer Abdulkareem Al Hosani a leading UAE businessman and a key player in real estate development and construction who brings more than 21 years of experience in the industry. Those interested can register on https://Thinkprop.ae/event. This workshop will be beneficial for those looking for free guidance on building their own home as it will cover the important steps of home construction from planning to execution said ADRES in its statement. The initiative comes in line with the Institute s mission of spreading real estate knowledge and providing training courses on the real estate sector for individuals and...
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The Thinkprop Real Estate Training Institute launched by Advanced Real Estate Services (ADRES) is set to host an online workshop on the Basics of Housing Construction . Set to take place on 15 June the workshop will be conducted by Engineer Abdulkareem Al Hosani a leading UAE businessman and a key player in real estate development and construction who brings more than 21 years of experience in the industry. Those interested can register on https://Thinkprop.ae/event. This workshop will be beneficial for those looking for free guidance on building their own home as it will cover the important steps of home construction from planning to execution said ADRES in its statement. The initiative comes in line with the Institute s mission of spreading real estate knowledge and providing training courses on the real estate sector for individuals and...
AD Ports Group the leading facilitator of global trade logistics and industry has signed a head of terms agreement with Enter Engineering Group to launch new businesses providing logistics and freight forwarding services in the Central Asian nation of Uzbekistan. As per the agreement the duo will establish joint venture companies to manage logistics and freight forwarding services including air sea land and rail logistics warehousing contract logistics and customs clearance. Enter Engineering Group was incorporated in 2012 and is one of the fastest growing companies in the industrial construction market in Central Asia. The Head of Terms is the latest in a series of international agreements signed by AD Ports Group to support ports logistics and digital projects around the world and is the first agreement of its kind with a leading enterprise in Uzbekistan. ...
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AD Ports Group the leading facilitator of global trade logistics and industry has signed a head of terms agreement with Enter Engineering Group to launch new businesses providing logistics and freight forwarding services in the Central Asian nation of Uzbekistan. As per the agreement the duo will establish joint venture companies to manage logistics and freight forwarding services including air sea land and rail logistics warehousing contract logistics and customs clearance. Enter Engineering Group was incorporated in 2012 and is one of the fastest growing companies in the industrial construction market in Central Asia. The Head of Terms is the latest in a series of international agreements signed by AD Ports Group to support ports logistics and digital projects around the world and is the first agreement of its kind with a leading enterprise in Uzbekistan. ...
Building smarter logistics processes and ensuring sustainable supply chain operations took centre stage at this year s Seamless Middle East - the region s largest payments and eCommerce event. The eCommerce sector in the Middle East has experienced tremendous growth during the past five years driven by a dramatic shift in how consumers purchase owing to the availability of multiple online channels to shop from. To capitalise on this growth and ensure customer-centric delivery operations retailers and eCommerce companies will need to rapidly digitise and automate their existing logistics processes it was felt at the event. Shipsy a leading global smart logistics management platform provider was among the main participants at this year s Seamless Middle East held on May 23 and 24 in Dubai. span style= fo...
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Building smarter logistics processes and ensuring sustainable supply chain operations took centre stage at this year s Seamless Middle East - the region s largest payments and eCommerce event. The eCommerce sector in the Middle East has experienced tremendous growth during the past five years driven by a dramatic shift in how consumers purchase owing to the availability of multiple online channels to shop from. To capitalise on this growth and ensure customer-centric delivery operations retailers and eCommerce companies will need to rapidly digitise and automate their existing logistics processes it was felt at the event. Shipsy a leading global smart logistics management platform provider was among the main participants at this year s Seamless Middle East held on May 23 and 24 in Dubai. span style= fo...
Building smarter logistics processes and ensuring sustainable supply chain operations took centre stage at this year s Seamless Middle East the region s largest payments and eCommerce event. The eCommerce sector in the Middle East has experienced tremendous growth jumping from 5 million five years ago to over 50 million by the end of 2022. This has been driven by a dramatic shift in how consumers purchase owing to the availability of multiple online channels to shop from. To capitalise on this growth and ensure customer-centric delivery operations retailers and eCommerce companies will need to rapidly digitise and automate their existing logistics processes. Shipsy a leading global smart logistics management platform provider was among the main participants at this year s Seamless Middle East event. s...
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Building smarter logistics processes and ensuring sustainable supply chain operations took centre stage at this year s Seamless Middle East the region s largest payments and eCommerce event. The eCommerce sector in the Middle East has experienced tremendous growth jumping from 5 million five years ago to over 50 million by the end of 2022. This has been driven by a dramatic shift in how consumers purchase owing to the availability of multiple online channels to shop from. To capitalise on this growth and ensure customer-centric delivery operations retailers and eCommerce companies will need to rapidly digitise and automate their existing logistics processes. Shipsy a leading global smart logistics management platform provider was among the main participants at this year s Seamless Middle East event. s...
Oman s Khazaen Dry Port a member of Asyad Group has signed a service agreement with Germany s DB Schenker the global logistics giant to use facilities and services provided by Khazaen to enhance its customers experience. The service agreement gives the company access to Khazaen s services and top-notch infrastructure to better serve its major clients mainly oil and gas corporations and other sectors reported Oman News Agency (ONA). Those services include the handling and temporary storage of sensitive cargo and other shipments that require special processing. Juma Al Maskari Executive Director at Khazaen said: sourcing new services to a top logistics player like DB Schenker is proof of the trust that a major company with high operational standards has in the quality of our services and assets. We are happy to conclude this agreement with DB Schenker and provide them with our customized ...
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Oman s Khazaen Dry Port a member of Asyad Group has signed a service agreement with Germany s DB Schenker the global logistics giant to use facilities and services provided by Khazaen to enhance its customers experience. The service agreement gives the company access to Khazaen s services and top-notch infrastructure to better serve its major clients mainly oil and gas corporations and other sectors reported Oman News Agency (ONA). Those services include the handling and temporary storage of sensitive cargo and other shipments that require special processing. Juma Al Maskari Executive Director at Khazaen said: sourcing new services to a top logistics player like DB Schenker is proof of the trust that a major company with high operational standards has in the quality of our services and assets. We are happy to conclude this agreement with DB Schenker and provide them with our customized ...
Diriyah Gate Development Authority (DGDA) said it has signed an MoU with Saudi Arabia s Oil Sustainability Programme (OSP) for collaboration on usage of sustainable polymer materials in all its projects and as well as providing required technical and logistic support with relevant entities in this field. The OSP was launched in 2020 with the participation of multiple government agencies research institutions and companies in Saudi Arabia. It works on maximizing the added value of hydrocarbons through developing innovative hydrocarbon-based materials promoting new and sustainable uses for these materials such as using polymer-based materials said the statement from DGDA. This MoU reflects the interdependence and integration of the Saudi Vision 2030 programmes given that OSP and DGDA are outcomes of this vision. ...
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Diriyah Gate Development Authority (DGDA) said it has signed an MoU with Saudi Arabia s Oil Sustainability Programme (OSP) for collaboration on usage of sustainable polymer materials in all its projects and as well as providing required technical and logistic support with relevant entities in this field. The OSP was launched in 2020 with the participation of multiple government agencies research institutions and companies in Saudi Arabia. It works on maximizing the added value of hydrocarbons through developing innovative hydrocarbon-based materials promoting new and sustainable uses for these materials such as using polymer-based materials said the statement from DGDA. This MoU reflects the interdependence and integration of the Saudi Vision 2030 programmes given that OSP and DGDA are outcomes of this vision. ...
Dubai South the largest single-urban master development has signed a deal with International Humanitarian City (IHC) which will take IHC humanitarian-aid shipments to a new level of efficiency and accuracy. As per the memorandum of understanding IHC the largest humanitarian hub in the world will implement Masary an e-gate pass system to track and trace shipments within a secure network and ensure efficient management of cargo movement. The agreement was signed during the two-day Seamless Middle East Summit in Dubai which concludes on June 1 by Giuseppe Saba CEO of IHC and Abdul Basit AlMarzouqi Director of the Logistics District at Dubai South in the presence of senior members from both entities. Logistics crucial Saba underlined the importance of the e-gate pass system saying: Logi...
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Dubai South the largest single-urban master development has signed a deal with International Humanitarian City (IHC) which will take IHC humanitarian-aid shipments to a new level of efficiency and accuracy. As per the memorandum of understanding IHC the largest humanitarian hub in the world will implement Masary an e-gate pass system to track and trace shipments within a secure network and ensure efficient management of cargo movement. The agreement was signed during the two-day Seamless Middle East Summit in Dubai which concludes on June 1 by Giuseppe Saba CEO of IHC and Abdul Basit AlMarzouqi Director of the Logistics District at Dubai South in the presence of senior members from both entities. Logistics crucial Saba underlined the importance of the e-gate pass system saying: Logi...
Despite facing numerous challenges related to time cost overruns and the capacity to post better industry performance the Kuwaiti construction industry is growing at a rapid pace and is projected to hit 9.19 billion by 2028 according to Verified Market Research. The local construction market caters to a wide range of activities that cover upcoming and ongoing project developments in key sectors such as commercial residential industrial construction and infrastructure transportation as well as the energy and utilities sector. Between 2022 to 2025 the Kuwaiti construction sector is expected to witness an annual average growth rate of 6% stated the report. When coupled with the government s programmes to promote the development of economic zones logistic cities transport and renewable energy infrastructure the Kuwaiti construction field is estimated to post str...
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Despite facing numerous challenges related to time cost overruns and the capacity to post better industry performance the Kuwaiti construction industry is growing at a rapid pace and is projected to hit 9.19 billion by 2028 according to Verified Market Research. The local construction market caters to a wide range of activities that cover upcoming and ongoing project developments in key sectors such as commercial residential industrial construction and infrastructure transportation as well as the energy and utilities sector. Between 2022 to 2025 the Kuwaiti construction sector is expected to witness an annual average growth rate of 6% stated the report. When coupled with the government s programmes to promote the development of economic zones logistic cities transport and renewable energy infrastructure the Kuwaiti construction field is estimated to post str...
Saudi-based Batic Investment and Logistics Company has announced that its fully owned subsidiary - Batic Real Estate Company - has acquired a land plot in Al Madinah with a total value of SR126.4 million ( 34.2 million). The transfer of ownership of the plot located in Quritha district was completed yesterday (May 29) stated Batic in its filing to Saudi bourse Tadawul. The deal could be completed after Batic arranged funds through a mix of the company s internal resources and a term loan from Alrajhi bank it added. ...
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Saudi-based Batic Investment and Logistics Company has announced that its fully owned subsidiary - Batic Real Estate Company - has acquired a land plot in Al Madinah with a total value of SR126.4 million ( 34.2 million). The transfer of ownership of the plot located in Quritha district was completed yesterday (May 29) stated Batic in its filing to Saudi bourse Tadawul. The deal could be completed after Batic arranged funds through a mix of the company s internal resources and a term loan from Alrajhi bank it added. ...
UAE-based luxury project developer Damac Properties has announced its foray into US real estate market by winning the 120 million bid to acquire land in the upscale Miami neighbourhood of Surfside. The Dubai group plans to build an ultra-luxurious Cavalli-branded condominium project. The property on Collins Avenue offers residents 200 ft of direct beach frontage and access to South Beach and Bal Harbour. Surfside in recent years has become a hotspot for ultra-luxury condominium developments including the Four Seasons Private Residences the Fendi Chateau Residences and the Arte Surfside buildings. The town also has a collection of high-end hotels including the Four Seasons the St. Regis Bal Harbour and the Ritz-Carlton Bal Harbour and its primary shopping area the Bal Harbour Shops is known throughout Miami as a luxury shopping destination. &nbs...
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UAE-based luxury project developer Damac Properties has announced its foray into US real estate market by winning the 120 million bid to acquire land in the upscale Miami neighbourhood of Surfside. The Dubai group plans to build an ultra-luxurious Cavalli-branded condominium project. The property on Collins Avenue offers residents 200 ft of direct beach frontage and access to South Beach and Bal Harbour. Surfside in recent years has become a hotspot for ultra-luxury condominium developments including the Four Seasons Private Residences the Fendi Chateau Residences and the Arte Surfside buildings. The town also has a collection of high-end hotels including the Four Seasons the St. Regis Bal Harbour and the Ritz-Carlton Bal Harbour and its primary shopping area the Bal Harbour Shops is known throughout Miami as a luxury shopping destination. &nbs...
ENBD REIT the shari a compliant real estate investment trust managed by Emirates NBD Asset Management Limited has announced its financial results for the year ended 31st March 2022 in which occupancy of its portfolio rose to 80% from 76% last year. Its property portfolio value stood at 356 million down 1.1% year-on-year whilst Net Asset Value (NAV) was 167 million or 0.67 per share at the end of the financial year 7.4% lower than the year before due to capital expenditure on the buildings in particular the refurbishment to Al Thuraya Tower and an accounting liability relating to the cross currency profit rate swap said the statement from ENBD REIT. The company substantially reduced its operating fund and finance costs negotiated revised lease terms and increased the average length of its leases during an active 2022 financial year. The investment trust also upg...
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ENBD REIT the shari a compliant real estate investment trust managed by Emirates NBD Asset Management Limited has announced its financial results for the year ended 31st March 2022 in which occupancy of its portfolio rose to 80% from 76% last year. Its property portfolio value stood at 356 million down 1.1% year-on-year whilst Net Asset Value (NAV) was 167 million or 0.67 per share at the end of the financial year 7.4% lower than the year before due to capital expenditure on the buildings in particular the refurbishment to Al Thuraya Tower and an accounting liability relating to the cross currency profit rate swap said the statement from ENBD REIT. The company substantially reduced its operating fund and finance costs negotiated revised lease terms and increased the average length of its leases during an active 2022 financial year. The investment trust also upg...
EKP a team of legal experts with regional offices in Beirut Dubai and Riyadh has announced the appointment of its new partner based in Dubai - Dean O Leary. The new partner will brings deep understanding of construction dispute resolution to the table to the fast-growing bai office of EKP which operates in association with Khalid El Tamimi. Working with EKP s Head of Construction Scott Hutton O Leary seeks to expand the group s regional construction disputes practice. He has been handling construction and engineering disputes for over 30 years 15 of which have been in the Middle East. Whilst his primary area of practice is the resolution of construction and engineering matters he also deals with both upstream and midstream oil and gas and other energy related disputes. According to EKP since his move...
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EKP a team of legal experts with regional offices in Beirut Dubai and Riyadh has announced the appointment of its new partner based in Dubai - Dean O Leary. The new partner will brings deep understanding of construction dispute resolution to the table to the fast-growing bai office of EKP which operates in association with Khalid El Tamimi. Working with EKP s Head of Construction Scott Hutton O Leary seeks to expand the group s regional construction disputes practice. He has been handling construction and engineering disputes for over 30 years 15 of which have been in the Middle East. Whilst his primary area of practice is the resolution of construction and engineering matters he also deals with both upstream and midstream oil and gas and other energy related disputes. According to EKP since his move...
Rules over the construction of buildings in Bahrain have been tightened up with the support of the government and by Royal Order. His Majesty King Hamad has ratified a law of 1977 with respect to Constructional Organisation of Buildings following its approval by Shura Council and Parliament reported The Gulf Daily News our sister publication. For further details visit https://www.gdnonline.com ...
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Rules over the construction of buildings in Bahrain have been tightened up with the support of the government and by Royal Order. His Majesty King Hamad has ratified a law of 1977 with respect to Constructional Organisation of Buildings following its approval by Shura Council and Parliament reported The Gulf Daily News our sister publication. For further details visit https://www.gdnonline.com ...
India s top engineering and construction conglomerate Larsen & Toubro (L&T) has been named as the Second Strongest Brand among the top 50 Global Engineering and Construction (E&C) companies by Brand Finance the world s leading brand valuation consultancy. An Indian multinational engaged in EPC projects hi-tech manufacturing and services has also been ranked as the Third Fastest Growing Brand by the London-based consultancy in its Engineering & Construction 50 2022 report. Announcing the key global accolade L&T said it is the only Indian company among the Most Valuable Global E&C Firms . L&T with its footprint across 50 countries has gained 44% in its Brand Value over last year it added. L&T achieved a significant improvem...
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India s top engineering and construction conglomerate Larsen & Toubro (L&T) has been named as the Second Strongest Brand among the top 50 Global Engineering and Construction (E&C) companies by Brand Finance the world s leading brand valuation consultancy. An Indian multinational engaged in EPC projects hi-tech manufacturing and services has also been ranked as the Third Fastest Growing Brand by the London-based consultancy in its Engineering & Construction 50 2022 report. Announcing the key global accolade L&T said it is the only Indian company among the Most Valuable Global E&C Firms . L&T with its footprint across 50 countries has gained 44% in its Brand Value over last year it added. L&T achieved a significant improvem...
Bahrain s Labor Fund (Tamkeen) has held its first consultative meeting with a number of companies in the logistics and transportation sector as part of a series of meetings that are scheduled to be held with different economic sectors. The meeting comes in addition to efforts to improve its programmes and services offerings said a statement. Tamkeen has organized a number of consultative meetings with more than 200 enterprises from different sectors prior to launching its programmes to closely identify the current and future market gaps within the private sector and to formulate appropriate solutions in line with Tamkeen s strategic objectives it said. Tamkeen works to stimulate enterprises that are committed to improving their productivity and scalability as well as ensure the optimal investment in all sectors especially high potential sectors with greater ec...
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Bahrain s Labor Fund (Tamkeen) has held its first consultative meeting with a number of companies in the logistics and transportation sector as part of a series of meetings that are scheduled to be held with different economic sectors. The meeting comes in addition to efforts to improve its programmes and services offerings said a statement. Tamkeen has organized a number of consultative meetings with more than 200 enterprises from different sectors prior to launching its programmes to closely identify the current and future market gaps within the private sector and to formulate appropriate solutions in line with Tamkeen s strategic objectives it said. Tamkeen works to stimulate enterprises that are committed to improving their productivity and scalability as well as ensure the optimal investment in all sectors especially high potential sectors with greater ec...
Manrre Logistics Fund a private Dubai-based investment firm has made two strategic investments in Jebel Ali Free Zone (Jafza) DP World s leading trade and logistics hub raising the value of its portfolio by 22.5% to 71.3 million. Launched in 2018 by Dubai-based Palmon Group Manrre focuses on institutional-grade logistics and industrial properties in locations including Jafza Dubai Investments Park and Dubai South in addition to investments in the cloud dark kitchen and alternative spaces in the UAE. The first of the investments in Jebel Ali is a facility leased to Infofort a subsidiary of Iron Mountain which is a company focused on records management data backup and recovery document management and data centres. AMS Integrated Solutions The second is AMS Integrated Solutions a Danish company...
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Manrre Logistics Fund a private Dubai-based investment firm has made two strategic investments in Jebel Ali Free Zone (Jafza) DP World s leading trade and logistics hub raising the value of its portfolio by 22.5% to 71.3 million. Launched in 2018 by Dubai-based Palmon Group Manrre focuses on institutional-grade logistics and industrial properties in locations including Jafza Dubai Investments Park and Dubai South in addition to investments in the cloud dark kitchen and alternative spaces in the UAE. The first of the investments in Jebel Ali is a facility leased to Infofort a subsidiary of Iron Mountain which is a company focused on records management data backup and recovery document management and data centres. AMS Integrated Solutions The second is AMS Integrated Solutions a Danish company...
Saudi Arabia s property e-conveyances have increased to nearly 79 000 transactions since the launch of the service in March 2020 reported the Saudi Press Agency citing the Ministry of Justice (MoJ). The total value exceeds SR 11 billion (around 2.9 billion) stated the report. The service is available through the Najiz.sa portal at ept.moj.gov.sa said the report. The upper limit for the e-conveyance of real property has been raised from SR3 million to SR20 million. The service has been streamlined to enable electronic agreement on sale terms without requiring a notary s certifications so that the operation is completed in less than 60 minutes it added. The ministry has also enabled digital verification of bank accounts and payment of property transaction tax said the SPA repor...
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Saudi Arabia s property e-conveyances have increased to nearly 79 000 transactions since the launch of the service in March 2020 reported the Saudi Press Agency citing the Ministry of Justice (MoJ). The total value exceeds SR 11 billion (around 2.9 billion) stated the report. The service is available through the Najiz.sa portal at ept.moj.gov.sa said the report. The upper limit for the e-conveyance of real property has been raised from SR3 million to SR20 million. The service has been streamlined to enable electronic agreement on sale terms without requiring a notary s certifications so that the operation is completed in less than 60 minutes it added. The ministry has also enabled digital verification of bank accounts and payment of property transaction tax said the SPA repor...
Etihad Rail the developer and operator of the UAE national railway network is set to host the 16th edition of Middle East Rail to outline the roadmap for transforming the transportation & logistics industries in the region. To be held from May 17 to 18 at the Abu Dhabi National Exhibition Centre the event will bring together leaders of the entire transportation community forward-thinking senior executives key decision makers and government representatives to convene discuss the most pressing topics in the global railway and transportation sector and highlight the latest innovations in the industry. A leading transport event in the Mena and South Asia region Middle East Rail will see more than 600 VIPs government officials transport and infrastructure industry experts from GCC taking part along with 6000 attendees more than 200 speakers and more than 250 exhibitors. ...
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Etihad Rail the developer and operator of the UAE national railway network is set to host the 16th edition of Middle East Rail to outline the roadmap for transforming the transportation & logistics industries in the region. To be held from May 17 to 18 at the Abu Dhabi National Exhibition Centre the event will bring together leaders of the entire transportation community forward-thinking senior executives key decision makers and government representatives to convene discuss the most pressing topics in the global railway and transportation sector and highlight the latest innovations in the industry. A leading transport event in the Mena and South Asia region Middle East Rail will see more than 600 VIPs government officials transport and infrastructure industry experts from GCC taking part along with 6000 attendees more than 200 speakers and more than 250 exhibitors. ...
Bahri a global leader in logistics and transportation has announced that its Bahri Logistics business unit has entered into a new agreement with TKHS the global leader in specialised logistics services tailor-made for the luxury hospitality industry to deliver a unique and powerful service offering for Saudi Arabia s booming hospitality sector. Under the terms of the exclusive agreement Bahri Logistics will partner with TKHS to provide end-to-end pre-opening logistics support for hotel developers in the kingdom said a statement. The scope will encompass a full range of services from quality inspections of materials and equipment through to international freight import customs clearance project warehousing and delivery services for furnishings and other equipment. In addition Bahri Logistics will provide ongoing logistics support for amenity distribution ...
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Bahri a global leader in logistics and transportation has announced that its Bahri Logistics business unit has entered into a new agreement with TKHS the global leader in specialised logistics services tailor-made for the luxury hospitality industry to deliver a unique and powerful service offering for Saudi Arabia s booming hospitality sector. Under the terms of the exclusive agreement Bahri Logistics will partner with TKHS to provide end-to-end pre-opening logistics support for hotel developers in the kingdom said a statement. The scope will encompass a full range of services from quality inspections of materials and equipment through to international freight import customs clearance project warehousing and delivery services for furnishings and other equipment. In addition Bahri Logistics will provide ongoing logistics support for amenity distribution ...
The Saudi Central bank (SAMA) has announced the amendment of some articles of the Implementing Regulations of the Finance Laws in the kingdom reported SPA. SAMA stated that the amendments included the decision of the Minister of Finance to revoke article (4) of the Implementing Regulation of Real Estate Finance Law and accordingly real estate finance companies are now allowed to practice financing activities without stipulating the prohibition of combining Real Estate financing and other forms of financing activities stated the report. However SAMA retains the discretion to restrict licensing by certain conditions. Further to the public consultation released earlier on the public consultation platform SAMA approved amendment of article 16 of the Implementing Regulation of the Finance Companies Control Law. From now on fin...
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The Saudi Central bank (SAMA) has announced the amendment of some articles of the Implementing Regulations of the Finance Laws in the kingdom reported SPA. SAMA stated that the amendments included the decision of the Minister of Finance to revoke article (4) of the Implementing Regulation of Real Estate Finance Law and accordingly real estate finance companies are now allowed to practice financing activities without stipulating the prohibition of combining Real Estate financing and other forms of financing activities stated the report. However SAMA retains the discretion to restrict licensing by certain conditions. Further to the public consultation released earlier on the public consultation platform SAMA approved amendment of article 16 of the Implementing Regulation of the Finance Companies Control Law. From now on fin...
Kuwait-based Heavy Engineering Industries and Shipbuilding Company (Heisco) a major engineering procurement and construction (EPC) contracting company said it has received a letter of intent from American Army affirming that it had won a tender for marine constructions works worth KD7.33 million ( 25.6 million) in Kuwait. Established in 1974 Heisco is a major engineering procurement and construction (EPC) contracting company based in Kuwait with a diversified range of business in oil and gas petrochemicals power civil construction shipbuilding and repair dredging and marine construction and other industrial services. The qualification for the tender would be officially declared at a later date stated the company on its website .-TradeArabia News Service ...
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Kuwait-based Heavy Engineering Industries and Shipbuilding Company (Heisco) a major engineering procurement and construction (EPC) contracting company said it has received a letter of intent from American Army affirming that it had won a tender for marine constructions works worth KD7.33 million ( 25.6 million) in Kuwait. Established in 1974 Heisco is a major engineering procurement and construction (EPC) contracting company based in Kuwait with a diversified range of business in oil and gas petrochemicals power civil construction shipbuilding and repair dredging and marine construction and other industrial services. The qualification for the tender would be officially declared at a later date stated the company on its website .-TradeArabia News Service ...
The need to leverage AI and automation best practices for balancing cost and customer experience and insights on crafting driver-centric logistics processes were some key discussion points at the virtual Logistics Tech Summit. The first-ever mega virtual Logistics Tech Summit on April 6 saw the participation of more than 500 supply chain executives from across the world including the Middle East India Southeast Asia and Europe and multiple industry stalwarts as speakers from marquee organisations like Emirates Post Jumia Group Myntra DTDC Express Zepto Meesho Wellness Forever and more. Competition in the on-demand delivery market in the Middle East is escalating and so is the race to become the delivery partner of choice. To stay ahead of the curve businesses need to focus on using automation AI ML predictive analytics and more to build agile resilient and profitable delivery operat...
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The need to leverage AI and automation best practices for balancing cost and customer experience and insights on crafting driver-centric logistics processes were some key discussion points at the virtual Logistics Tech Summit. The first-ever mega virtual Logistics Tech Summit on April 6 saw the participation of more than 500 supply chain executives from across the world including the Middle East India Southeast Asia and Europe and multiple industry stalwarts as speakers from marquee organisations like Emirates Post Jumia Group Myntra DTDC Express Zepto Meesho Wellness Forever and more. Competition in the on-demand delivery market in the Middle East is escalating and so is the race to become the delivery partner of choice. To stay ahead of the curve businesses need to focus on using automation AI ML predictive analytics and more to build agile resilient and profitable delivery operat...
GFH Financial Group has announced that its UK subsidiary Roebuck Asset Management has concluded an off-market sale of a Tesco Distribution Centre for over 135 million. The 540 000-sq-ft temperature controlled centre was originally developed by Tesco in 2010. The warehouse serves in excess of 400 supermarkets and convivence stores across the South West of England and South Wales forming a crucial part of Tesco s distribution network said a statement from GFH. The sale marks the end of an extremely successful hold period for Roebuck who acquired the asset for 94 million in October 2017 on behalf of a consortium of institutional Korean investors. The robust income and significant value increase provided the investors with a post-tax internal rate of return (IRR) of more than 16% well in advance of the target business plan for such a core asset. &n...
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GFH Financial Group has announced that its UK subsidiary Roebuck Asset Management has concluded an off-market sale of a Tesco Distribution Centre for over 135 million. The 540 000-sq-ft temperature controlled centre was originally developed by Tesco in 2010. The warehouse serves in excess of 400 supermarkets and convivence stores across the South West of England and South Wales forming a crucial part of Tesco s distribution network said a statement from GFH. The sale marks the end of an extremely successful hold period for Roebuck who acquired the asset for 94 million in October 2017 on behalf of a consortium of institutional Korean investors. The robust income and significant value increase provided the investors with a post-tax internal rate of return (IRR) of more than 16% well in advance of the target business plan for such a core asset. &n...
To bridge the gap between high-performing real estate markets globally and those in the Middle East professional services firm PwC Middle East has detailed six guiding principles for regulators in a new report titled Six Steps to Sustainability. Governments in the Middle East have implemented wide-ranging economic measures and incentive packages for their respective Real Estate markets in recent years in hopes of driving growth and boosting the sector. Despite this effort when compared to global markets using multiple indices Middle East markets are working on enhancing certain market fundamentals which are critical to achieving sustainability and growth in the long-term. Taking a closer look within global indices such as the International Protection Rights Index the Real Estate Transparency Index and the UN E-Government Development index Middle Eastern Real Estate markets are classified as being at a developing stage. br /...
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To bridge the gap between high-performing real estate markets globally and those in the Middle East professional services firm PwC Middle East has detailed six guiding principles for regulators in a new report titled Six Steps to Sustainability. Governments in the Middle East have implemented wide-ranging economic measures and incentive packages for their respective Real Estate markets in recent years in hopes of driving growth and boosting the sector. Despite this effort when compared to global markets using multiple indices Middle East markets are working on enhancing certain market fundamentals which are critical to achieving sustainability and growth in the long-term. Taking a closer look within global indices such as the International Protection Rights Index the Real Estate Transparency Index and the UN E-Government Development index Middle Eastern Real Estate markets are classified as being at a developing stage. br /...
Leading pan-African e-commerce platform Jumia has joined forces with the world s premier package delivery company UPS to help expand its delivery services for businesses and consumers across the continent. Leveraging the Jumia infrastructure in Africa UPS will offer its customers an extended range of delivery solutions including door to door package delivery and collection with a variety of payment options. This partnership will also allow UPS to leverage the extensive network of Jumia drop-off and pick-up stations to expand the UPS reach and coverage across more towns and cities in Africa said the statement from Jumia. The collaboration will initially cover Kenya Morocco Nigeria with plans for expansion to Ghana and Ivory Coast and thereafter to the remaining African countries where Jumia operates it added. At the beg...
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Leading pan-African e-commerce platform Jumia has joined forces with the world s premier package delivery company UPS to help expand its delivery services for businesses and consumers across the continent. Leveraging the Jumia infrastructure in Africa UPS will offer its customers an extended range of delivery solutions including door to door package delivery and collection with a variety of payment options. This partnership will also allow UPS to leverage the extensive network of Jumia drop-off and pick-up stations to expand the UPS reach and coverage across more towns and cities in Africa said the statement from Jumia. The collaboration will initially cover Kenya Morocco Nigeria with plans for expansion to Ghana and Ivory Coast and thereafter to the remaining African countries where Jumia operates it added. At the beg...
Planning for the future and addressing the logistics challenges will be key to achieving the energy transition says a white paper. The recently published DHL white paper Logistics of the Energy Revolution sheds light on the transformation of the entire energy industry on the road to a net-zero future and how logistics has turned into its key enabler. A net-zero system will entail a profound shift towards electrification. We are however faced with the circumstance that renewable energies produce less power per installation than fossil fuels. This means that installed wind power capacity will need to increase by a factor of four and solar photovoltaic by a factor of seven between 2020 and 2030 says Katja Busch Chief Commercial Officer DHL and Head of DHL Customer Solutions and Innovation. Renewabl...
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Planning for the future and addressing the logistics challenges will be key to achieving the energy transition says a white paper. The recently published DHL white paper Logistics of the Energy Revolution sheds light on the transformation of the entire energy industry on the road to a net-zero future and how logistics has turned into its key enabler. A net-zero system will entail a profound shift towards electrification. We are however faced with the circumstance that renewable energies produce less power per installation than fossil fuels. This means that installed wind power capacity will need to increase by a factor of four and solar photovoltaic by a factor of seven between 2020 and 2030 says Katja Busch Chief Commercial Officer DHL and Head of DHL Customer Solutions and Innovation. Renewabl...
Innovation is required to deliver electrification across the 200 billion construction equipment sector and forward-thinking firms are already committing effort and resources to meeting these challenges. IDTechEx s new report Electric Vehicles in Construction 2022-2042 forecast that the electric share of the construction vehicle market will be worth more than 100 billion per year by 2042. The end goal for electric construction machines is all-electric systems entirely replacing hydraulics and in their place using electric actuators and drive motors. Complex challenges To undertake the same tasks as equivalent diesel machines powertrain elements in electric construction vehicles need to be sized to deliver the same performance. This requires the mot...
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Innovation is required to deliver electrification across the 200 billion construction equipment sector and forward-thinking firms are already committing effort and resources to meeting these challenges. IDTechEx s new report Electric Vehicles in Construction 2022-2042 forecast that the electric share of the construction vehicle market will be worth more than 100 billion per year by 2042. The end goal for electric construction machines is all-electric systems entirely replacing hydraulics and in their place using electric actuators and drive motors. Complex challenges To undertake the same tasks as equivalent diesel machines powertrain elements in electric construction vehicles need to be sized to deliver the same performance. This requires the mot...
Dubai is facing the prospect of real estate shortages due to surging demand for high-end property a leading real estate financier in Dubai has warned. The past year has seen record demand for luxurious and premium properties in the emirate said Cyril Lincoln executive vice president global head of real estate finance and advisory at Mashreq Bank. But wider macroeconomic conditions could affect how well developers are able to meet this booming demand. Demand for property in Dubai is growing despite the rise in prices. According to real estate consultancy Knight Frank prices of luxury homes in Dubai grew by 44 per cent in 2021 driven by demand from wealthy international buyers from markets including Russia India and Europe. Analysis from market tracker service Property Monitor shows that January 2022 recorded the highest price appreciation since August 2021 in tandem with monthly transact...
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Dubai is facing the prospect of real estate shortages due to surging demand for high-end property a leading real estate financier in Dubai has warned. The past year has seen record demand for luxurious and premium properties in the emirate said Cyril Lincoln executive vice president global head of real estate finance and advisory at Mashreq Bank. But wider macroeconomic conditions could affect how well developers are able to meet this booming demand. Demand for property in Dubai is growing despite the rise in prices. According to real estate consultancy Knight Frank prices of luxury homes in Dubai grew by 44 per cent in 2021 driven by demand from wealthy international buyers from markets including Russia India and Europe. Analysis from market tracker service Property Monitor shows that January 2022 recorded the highest price appreciation since August 2021 in tandem with monthly transact...
Bahrain was first to build a track and host a Formula One (F1) race in the region but there was competition. UAE Egypt and Lebanon were all potential alternative candidates but in 2002 the FIA came calling and Bahrain beat their internal competition as a result of a firm commitment to deliver a race by 2004. It was of course a risk but 17 Grand Prix later it is absolutely clear that this was a risk worth taking. Even more so when one considers that as far as economic and real estate benefits are concerned the best is yet to come according to leading Cavendish Maxwell an independent firm of chartered surveyors and property consultants in the Middle East. With the signature of the new contract understood to be the longest race deal ever signed in F1 the Bahrain International Circuit has secured a place on the calendar until 2036. This will provide real estate developers a...
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Bahrain was first to build a track and host a Formula One (F1) race in the region but there was competition. UAE Egypt and Lebanon were all potential alternative candidates but in 2002 the FIA came calling and Bahrain beat their internal competition as a result of a firm commitment to deliver a race by 2004. It was of course a risk but 17 Grand Prix later it is absolutely clear that this was a risk worth taking. Even more so when one considers that as far as economic and real estate benefits are concerned the best is yet to come according to leading Cavendish Maxwell an independent firm of chartered surveyors and property consultants in the Middle East. With the signature of the new contract understood to be the longest race deal ever signed in F1 the Bahrain International Circuit has secured a place on the calendar until 2036. This will provide real estate developers a...
More than 84% of real estate professionals expect competition within Dubai s real estate market to ramp up going forward according to the 2022 EMEA Real Estate Report published by Berkshire Hathaway HomeServices global headquarters. The report reflected the experiences of residential real estate professionals across seven key markets for Berkshire Hathaway HomeServices consisting of Dubai UK Germany Italy Spain Portugal and Greece over the past 12 months. More than two thirds (68%) of respondents in Dubai said they had experienced growth over the previous 12 months and expect this positive trend to continue with a noteworthy 77% - the highest figure reported across EMEA countries - predicting the market will grow further in the coming year. These figures when coupled with a strong outlook for further growth suggest that Dubai s property sector...
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More than 84% of real estate professionals expect competition within Dubai s real estate market to ramp up going forward according to the 2022 EMEA Real Estate Report published by Berkshire Hathaway HomeServices global headquarters. The report reflected the experiences of residential real estate professionals across seven key markets for Berkshire Hathaway HomeServices consisting of Dubai UK Germany Italy Spain Portugal and Greece over the past 12 months. More than two thirds (68%) of respondents in Dubai said they had experienced growth over the previous 12 months and expect this positive trend to continue with a noteworthy 77% - the highest figure reported across EMEA countries - predicting the market will grow further in the coming year. These figures when coupled with a strong outlook for further growth suggest that Dubai s property sector...
Saudi Arabia s Public Investment Fund (PIF) is in talks with four of the kingdom s leading construction firms - Nesma Holding El Seif Group Almabani General Contractors and Albawani - to acquire a minority stake in them or their subsidiaries said a report. The Saudi wealth fund will be investing hundreds of millions of dollars in these firms and is looking at acquiring a strategic stake in these companies reported Bloomberg citing people familiar with the matter. The PIF has hired Rothschild and GIB Capital as advisers and is looking to snap up around 30% in each company stated the report citing the sources. The move comes in line with PIF s five-year strategy - unveiled last year by its Chairman HRH Prince Mohamme...
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Saudi Arabia s Public Investment Fund (PIF) is in talks with four of the kingdom s leading construction firms - Nesma Holding El Seif Group Almabani General Contractors and Albawani - to acquire a minority stake in them or their subsidiaries said a report. The Saudi wealth fund will be investing hundreds of millions of dollars in these firms and is looking at acquiring a strategic stake in these companies reported Bloomberg citing people familiar with the matter. The PIF has hired Rothschild and GIB Capital as advisers and is looking to snap up around 30% in each company stated the report citing the sources. The move comes in line with PIF s five-year strategy - unveiled last year by its Chairman HRH Prince Mohamme...
At a time the GCC logistics industry is evolving rapidly and is expected to grow by 4.3% between 2020 and 2025 the third edition of the Smart Logistics Challenge series was held at Expo 2020 Dubai. In support of UAE-based startups in the logistics industry the series was hosted by UPS together with the Dubai Chamber of Commerce and DP World. UPS started with two bicycles and a 100 loan. That entrepreneurial spirit is still alive in UPS today. As a company we are passionate about small businesses and being a strategic and trusted partner for them. The smart logistics challenge is a great example of this as it brings together the best logistics technology startups in the country giving them the opportunity to potentially pilot their solutions with UPS DP World or Siemens said Jean-Francois Condamine UPS President for Indian Subcontinent Middle East Africa. &nbs...
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At a time the GCC logistics industry is evolving rapidly and is expected to grow by 4.3% between 2020 and 2025 the third edition of the Smart Logistics Challenge series was held at Expo 2020 Dubai. In support of UAE-based startups in the logistics industry the series was hosted by UPS together with the Dubai Chamber of Commerce and DP World. UPS started with two bicycles and a 100 loan. That entrepreneurial spirit is still alive in UPS today. As a company we are passionate about small businesses and being a strategic and trusted partner for them. The smart logistics challenge is a great example of this as it brings together the best logistics technology startups in the country giving them the opportunity to potentially pilot their solutions with UPS DP World or Siemens said Jean-Francois Condamine UPS President for Indian Subcontinent Middle East Africa. &nbs...
JLL a leading professional services firm specialising in real estate investment management and development consultancy services has launched a Women in Construction Drive 2022 in celebration of International Women s Day and Women in Construction Week. As part of the initiative JLL brought together entities from across the construction industry to visit schools in Dubai to generate awareness about the construction trades and increase female representation in the industry. Commenting on the initiative Louise Collins Head of Project & Development Services (P&DS) UAE JLL said: For decades women have been under-represented in the construction field. Now more than ever tapping into the female talent pool is crucial. At JLL this is a topic we are very passionate about and this is why we are thrilled to be launching this drive together with our peers. ...
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JLL a leading professional services firm specialising in real estate investment management and development consultancy services has launched a Women in Construction Drive 2022 in celebration of International Women s Day and Women in Construction Week. As part of the initiative JLL brought together entities from across the construction industry to visit schools in Dubai to generate awareness about the construction trades and increase female representation in the industry. Commenting on the initiative Louise Collins Head of Project & Development Services (P&DS) UAE JLL said: For decades women have been under-represented in the construction field. Now more than ever tapping into the female talent pool is crucial. At JLL this is a topic we are very passionate about and this is why we are thrilled to be launching this drive together with our peers. ...
Orascom Construction a leading engineering and construction contractor in the region has reported a backlog of 6.1 billion and a net income of 113.4 million for FY 2021 up 24.8% over the previous year. Announcing the results for the 12-month period ending December 31 2021 Orascom Construction said its revenue too surged by 5.1% to 3.54 billion while its net income attributable to shareholders increased 43.2% y-o-y to 37.1 million in Q4 2021 and 24.8% y-o-y to 113.4 million in FY 2021. The top construction contractor said its consolidated EBITDA increased 3.3% y-o-y to 204.4 million in FY 2021. Net income attributable to shareholders increased 43.2% y-o-y to 37.1 million in Q4 2021. Net cash position increased to 441.6 million as of December 31 2021 and positive operating cash flow increased to 201.2 million in FY 2021. Consoli...
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Orascom Construction a leading engineering and construction contractor in the region has reported a backlog of 6.1 billion and a net income of 113.4 million for FY 2021 up 24.8% over the previous year. Announcing the results for the 12-month period ending December 31 2021 Orascom Construction said its revenue too surged by 5.1% to 3.54 billion while its net income attributable to shareholders increased 43.2% y-o-y to 37.1 million in Q4 2021 and 24.8% y-o-y to 113.4 million in FY 2021. The top construction contractor said its consolidated EBITDA increased 3.3% y-o-y to 204.4 million in FY 2021. Net income attributable to shareholders increased 43.2% y-o-y to 37.1 million in Q4 2021. Net cash position increased to 441.6 million as of December 31 2021 and positive operating cash flow increased to 201.2 million in FY 2021. Consoli...
Bahrain s real estate sector is strong and resilient and will continue to grow in the years to come real estate leaders of the kingdom said at the Gulf Property Show s roundtable yesterday. Moderated by event organiser Hilal Conferences and Exhibitions (HCE) Exhibitions Director Ahmed Suleiman the discussion featured Amin Al Arrayed Chief Executive of Bahrain Real Estate Investment Company (Edamah) Majid Al Khan Executive Board Member of Infracorp and Aref Hejres Chairman of Bahrain Property Developers Association (BaPDA) a Gulf Daily News report said. Al Khan said: It is important for Bahrain s real estate future that we ensure that there is greater connection across the real estate sector. It is not only about synergistic thinking to meet the needs of the citizens of Bahrain but also about connecting projects...
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Bahrain s real estate sector is strong and resilient and will continue to grow in the years to come real estate leaders of the kingdom said at the Gulf Property Show s roundtable yesterday. Moderated by event organiser Hilal Conferences and Exhibitions (HCE) Exhibitions Director Ahmed Suleiman the discussion featured Amin Al Arrayed Chief Executive of Bahrain Real Estate Investment Company (Edamah) Majid Al Khan Executive Board Member of Infracorp and Aref Hejres Chairman of Bahrain Property Developers Association (BaPDA) a Gulf Daily News report said. Al Khan said: It is important for Bahrain s real estate future that we ensure that there is greater connection across the real estate sector. It is not only about synergistic thinking to meet the needs of the citizens of Bahrain but also about connecting projects...
Investcorp a leading global alternative investment firm has announced that its European Real Estate business has invested approximately 1.1 billion ( 1.21 billion) in 80 properties across the UK Germany the Netherlands Italy and Belgium since its launch in 2017. Towards the end of last year it acquired Kering s Italian headquarters in Milan for 74 million and has recently acquired an office in Rome occupied by the United Nations agency the International Fund for Agricultural Development (IFAD) for 128 million. The two acquisitions mark Investcorp s entrance into the Italian real estate market. Growing demand for office space in Milan Rome Yusef Al Yusef Head of Investcorp s Private Wealth said: We are pleased to have made our entry into the Italian real estate market. Milan and Rome continu...
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Investcorp a leading global alternative investment firm has announced that its European Real Estate business has invested approximately 1.1 billion ( 1.21 billion) in 80 properties across the UK Germany the Netherlands Italy and Belgium since its launch in 2017. Towards the end of last year it acquired Kering s Italian headquarters in Milan for 74 million and has recently acquired an office in Rome occupied by the United Nations agency the International Fund for Agricultural Development (IFAD) for 128 million. The two acquisitions mark Investcorp s entrance into the Italian real estate market. Growing demand for office space in Milan Rome Yusef Al Yusef Head of Investcorp s Private Wealth said: We are pleased to have made our entry into the Italian real estate market. Milan and Rome continu...
Top companies coming from some of the world s premier investor countries have confirmed their participation at a specialized Global Real Estate Professional Program which is being co-hosted simultaneously by this year s edition of the International Property Show (IPS 2022). An ultimate sales platform for both local and international real estate markets IPS will be running from March 24 to 26 at the Dubai International Convention & Exhibition Centre. The 10-day exclusive program will provide a diverse set of activities for delegates attending IPS 2022. The event has partnered with Invest in Dubai Real Estate for this bespoke program which brings in some of the world s top Realtors and Real Estate professionals to meet investors and government officials from more than 170 countries. Investors from Scotland Ind...
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Top companies coming from some of the world s premier investor countries have confirmed their participation at a specialized Global Real Estate Professional Program which is being co-hosted simultaneously by this year s edition of the International Property Show (IPS 2022). An ultimate sales platform for both local and international real estate markets IPS will be running from March 24 to 26 at the Dubai International Convention & Exhibition Centre. The 10-day exclusive program will provide a diverse set of activities for delegates attending IPS 2022. The event has partnered with Invest in Dubai Real Estate for this bespoke program which brings in some of the world s top Realtors and Real Estate professionals to meet investors and government officials from more than 170 countries. Investors from Scotland Ind...
Building on the success of the ATMAH project the region s first Social Impact Bonds the Authority of Social Contribution - Ma an has announced a AED4 million ( 1.08 million) investment by leading developer Aldar that will be allocated to two social contracting projects. The new social investment contributions include AED2.7 million for family counselling services project by the Abu Dhabi Early Childhood Authority (ECA); and AED1.3 million to support the beneficiaries of Abu Dhabi Social Support Authority s Programme for Upskilling and Employment of Emiratis that aims to enhance career opportunities for Emirati workforce. Additionally another AED1 million will be contributed by the prominent businessman Dr Abdulkader Sankari Founder of Sankari Fashion & Investment Group towards Abu Dhabi Social Support Authority s Programme for Upskilling and Employment of Emiratis. ...
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Building on the success of the ATMAH project the region s first Social Impact Bonds the Authority of Social Contribution - Ma an has announced a AED4 million ( 1.08 million) investment by leading developer Aldar that will be allocated to two social contracting projects. The new social investment contributions include AED2.7 million for family counselling services project by the Abu Dhabi Early Childhood Authority (ECA); and AED1.3 million to support the beneficiaries of Abu Dhabi Social Support Authority s Programme for Upskilling and Employment of Emiratis that aims to enhance career opportunities for Emirati workforce. Additionally another AED1 million will be contributed by the prominent businessman Dr Abdulkader Sankari Founder of Sankari Fashion & Investment Group towards Abu Dhabi Social Support Authority s Programme for Upskilling and Employment of Emiratis. ...
Maersk Kanoo UAE an integrator of container logistics has inaugurated its first Integrated Logistics Centre in Dubai at DP World s leading trade and logistics hub in Jafza with a 10 000 sq m Warehousing and Distribution (W&D) facility. It will cater to commodities across petrochemical retail and lifestyle fast moving consumer goods (FMCG) technology and automotive sectors amongst others. Besides to decarbonise logistics and services the facility will get solar panels on its rooftop to cater to all the entire electricity requirements for facility operations. The 434 MWh/year clean energy production of this installation will reduce more than 1 700 tonnes of carbon emissions over 10 years; an equivalent decarbonisation feat achieved by planting over 70 000 trees seedlings over 10 years. The Maersk Integrated Logistics Centre in Dubai will be an addition ...
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Maersk Kanoo UAE an integrator of container logistics has inaugurated its first Integrated Logistics Centre in Dubai at DP World s leading trade and logistics hub in Jafza with a 10 000 sq m Warehousing and Distribution (W&D) facility. It will cater to commodities across petrochemical retail and lifestyle fast moving consumer goods (FMCG) technology and automotive sectors amongst others. Besides to decarbonise logistics and services the facility will get solar panels on its rooftop to cater to all the entire electricity requirements for facility operations. The 434 MWh/year clean energy production of this installation will reduce more than 1 700 tonnes of carbon emissions over 10 years; an equivalent decarbonisation feat achieved by planting over 70 000 trees seedlings over 10 years. The Maersk Integrated Logistics Centre in Dubai will be an addition ...
Sharjah Electricity Water and Gas Authority (Sewa) has completed the construction and operation of two 33/11 kV distribution stations in the central region at a cost of more than AED80 million ( 22 million). The project implemented by Sewa s Department of Energy Transmission is part of its ambitious development plans and endeavour to meet the increasing demand for energy said a statement from Sewa. It strengthens the old electrical network feeds the safari park changes the lines with ground cables feeds the Madam area and its surroundings and modifies and improves the power quality it added. Hamad Al Tunaiji Director of the Energy Transmission Department said Sewa was working to implement a strategy that supports development plans in all Sharjah cities and regions to provide the advanced infrastructure that meets the increasing energy demand. ...
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Sharjah Electricity Water and Gas Authority (Sewa) has completed the construction and operation of two 33/11 kV distribution stations in the central region at a cost of more than AED80 million ( 22 million). The project implemented by Sewa s Department of Energy Transmission is part of its ambitious development plans and endeavour to meet the increasing demand for energy said a statement from Sewa. It strengthens the old electrical network feeds the safari park changes the lines with ground cables feeds the Madam area and its surroundings and modifies and improves the power quality it added. Hamad Al Tunaiji Director of the Energy Transmission Department said Sewa was working to implement a strategy that supports development plans in all Sharjah cities and regions to provide the advanced infrastructure that meets the increasing energy demand. ...
Construction technology startup Mastt has raised A 9.5 million ( 6.8 million) less than 12 months after its seed round as it aims to almost double its headcount and continue expansion abroad. The round was led by VC firm OIF Ventures with participation from Assignar co-founder and CEO Sean McCreanor Assignar Chief Revenue Officer Chris Peterson and Mastt s own Chief Technology Officer David Jablonski. Existing investors Artesian Significant Early Venture Capital Investible and Gravel Road Ventures the venture fund of Aconex co-founders Rob Phillpot and Leigh Jasper also contributed to the heavily oversubscribed round. Since Mastt s last round of investment the company has gone on to remotely expand into the US and Middle East said the statement. The company has quadrupled its monthly recurring revenue and is now used across...
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Construction technology startup Mastt has raised A 9.5 million ( 6.8 million) less than 12 months after its seed round as it aims to almost double its headcount and continue expansion abroad. The round was led by VC firm OIF Ventures with participation from Assignar co-founder and CEO Sean McCreanor Assignar Chief Revenue Officer Chris Peterson and Mastt s own Chief Technology Officer David Jablonski. Existing investors Artesian Significant Early Venture Capital Investible and Gravel Road Ventures the venture fund of Aconex co-founders Rob Phillpot and Leigh Jasper also contributed to the heavily oversubscribed round. Since Mastt s last round of investment the company has gone on to remotely expand into the US and Middle East said the statement. The company has quadrupled its monthly recurring revenue and is now used across...
EMIC Training a noted international training provider is setting the agenda for builders and developers with a hybrid workshop on Green Buildings and Sustainable Neighbourhoods . Taking place on March 24 at the Gulf Construction Expo which runs from March 22 to 24 at Bahrain Exhibition Centre the workshop will take place at 11am. The Expo will also feature a dedicated webinar delivered by Mohamed Mortada of Eco Consulting & Circular aimed at architects engineers landscape designers developers and other construction professionals/ students. Mortada has been working at Eco Consulting as a Sustainable Design Architect. Since he graduated from Lebanese American University he has earned numerous certifications in sustainable design and green building and amassed over four years of practical experience in the field. Mortada is an accredited Leed Green Associate and has worke...
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EMIC Training a noted international training provider is setting the agenda for builders and developers with a hybrid workshop on Green Buildings and Sustainable Neighbourhoods . Taking place on March 24 at the Gulf Construction Expo which runs from March 22 to 24 at Bahrain Exhibition Centre the workshop will take place at 11am. The Expo will also feature a dedicated webinar delivered by Mohamed Mortada of Eco Consulting & Circular aimed at architects engineers landscape designers developers and other construction professionals/ students. Mortada has been working at Eco Consulting as a Sustainable Design Architect. Since he graduated from Lebanese American University he has earned numerous certifications in sustainable design and green building and amassed over four years of practical experience in the field. Mortada is an accredited Leed Green Associate and has worke...
The construction industry in the Middle East and North Africa (Mena) region continued to maintain momentum in 2021 with a strong finish to the year being a highlight according to real estate industry expert JLL. There were 156 billion worth of projects awarded during 2021 across the region as widespread enhancements to the construction sector and digital transformation continued to drive growth in the region stated JLL in its newly-released Mena Construction Economics and Cost Insight Review. The Egypt KSA and UAE announcements of their planned 2022 government spending is also expected to be a catalyst for growth. The report also identifies new trends over the past two years and a shift in societal behaviours could lead to future development opportunities. Key takeaways from the report include: ...
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The construction industry in the Middle East and North Africa (Mena) region continued to maintain momentum in 2021 with a strong finish to the year being a highlight according to real estate industry expert JLL. There were 156 billion worth of projects awarded during 2021 across the region as widespread enhancements to the construction sector and digital transformation continued to drive growth in the region stated JLL in its newly-released Mena Construction Economics and Cost Insight Review. The Egypt KSA and UAE announcements of their planned 2022 government spending is also expected to be a catalyst for growth. The report also identifies new trends over the past two years and a shift in societal behaviours could lead to future development opportunities. Key takeaways from the report include: ...
Leading players in the construction and real estate sectors are showcasing their innovative products advanced services and emerging solutions at the Oman Design and Build Week (ODBW) and Oman Real Estate Exhibition 2022 being held in capital Muscat. The three-day event is being organized under the patronage of the Ministry of Housing and Urban Planning Oman with the support of Oman Real Estate Association and Muscat Municipality. It was inaugurated yesterday (March 14) by Minister of Finance Sultan Bin Salim Al Habsi at the Oman Convention and Exhibition Center. Positioned as a forum offering opportunities for face-to-face business networking the chance to engage in meaningful exchanges of information and enhancing the prospects of connecting with industry peers to form long-term partnerships in the future visitors to Orex will also gain access to real estate develo...
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Leading players in the construction and real estate sectors are showcasing their innovative products advanced services and emerging solutions at the Oman Design and Build Week (ODBW) and Oman Real Estate Exhibition 2022 being held in capital Muscat. The three-day event is being organized under the patronage of the Ministry of Housing and Urban Planning Oman with the support of Oman Real Estate Association and Muscat Municipality. It was inaugurated yesterday (March 14) by Minister of Finance Sultan Bin Salim Al Habsi at the Oman Convention and Exhibition Center. Positioned as a forum offering opportunities for face-to-face business networking the chance to engage in meaningful exchanges of information and enhancing the prospects of connecting with industry peers to form long-term partnerships in the future visitors to Orex will also gain access to real estate develo...
Saudi Real Estate Refinance Company (SRC) a wholly owned company of the Public Investment Fund (PIF) has signed an agreement with Saudi National Bank (SNB) to sell a real estate financing portfolio worth SR1 billion ( 266.58 million) which is considered to be the largest bank refinancing in the kingdom. The agreement was signed in the presence of Majid bin Abdullah Al Hogail Minister of Municipal and Rural Affairs and Housing and Ammar Alkhudairy Chairman of SNB by Fabrice Susini CEO of SRC and Majed Al Ghamdi Chief Executive Officer of Retail at SNB. The agreement aims to refinance the portfolio to provide long-term liquidity to the Saudi home financing market and facilitate risk management in the sector. Susini said the company continues to expand its partnerships with originators to boost the rate of Saudi homeownership to 70% by 2030 in line with the objec...
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Saudi Real Estate Refinance Company (SRC) a wholly owned company of the Public Investment Fund (PIF) has signed an agreement with Saudi National Bank (SNB) to sell a real estate financing portfolio worth SR1 billion ( 266.58 million) which is considered to be the largest bank refinancing in the kingdom. The agreement was signed in the presence of Majid bin Abdullah Al Hogail Minister of Municipal and Rural Affairs and Housing and Ammar Alkhudairy Chairman of SNB by Fabrice Susini CEO of SRC and Majed Al Ghamdi Chief Executive Officer of Retail at SNB. The agreement aims to refinance the portfolio to provide long-term liquidity to the Saudi home financing market and facilitate risk management in the sector. Susini said the company continues to expand its partnerships with originators to boost the rate of Saudi homeownership to 70% by 2030 in line with the objec...
Jadwa Investment a leading investment management and advisory firm has launched SR3 billion ( 800 million) Real Estate Growth Fund teaming up with Tatweer Group Numu Holding Company and Riyad Bank. Real Estate Growth Fund is part of Jadwa s diversified real estate portfolio which has expanded significantly in the last two years. As of February 2022 the firm is managing a total of SR12.6 billion in real estate assets across its various development and income-generating funds. Real Estate Growth Fund is a closed-ended Shariah-compliant real estate investment fund. The fund aims to provide investors a stable stream of income and compelling capital appreciation over the medium to long term by investing in differentiated income-generating properties in the kingdom. Towards this objective the fund has already acquired The Zone one of Riyadh s most ...
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Jadwa Investment a leading investment management and advisory firm has launched SR3 billion ( 800 million) Real Estate Growth Fund teaming up with Tatweer Group Numu Holding Company and Riyad Bank. Real Estate Growth Fund is part of Jadwa s diversified real estate portfolio which has expanded significantly in the last two years. As of February 2022 the firm is managing a total of SR12.6 billion in real estate assets across its various development and income-generating funds. Real Estate Growth Fund is a closed-ended Shariah-compliant real estate investment fund. The fund aims to provide investors a stable stream of income and compelling capital appreciation over the medium to long term by investing in differentiated income-generating properties in the kingdom. Towards this objective the fund has already acquired The Zone one of Riyadh s most ...
Dubai s real estate sector has attracted a total of 38 318 foreign investors who have sealed 51 553 new investments worth more than AED99 billion ( 53 billion) said experts ahead of a key industry event. To be held from March 24 to 26 International Property Show (IPS) 2022 serves as a powerful platform that connects local and international real estate developers with real estate investors from all over the world. Investors from Spain Austria Serbia and Montenegro USA Canada Equador and Mexico will be taking part in the event. As per reports Dubai s real estate market recorded 84 772 transactions representing a value of AED300 billion in 2021. There was a 65 per cent growth in the number of transactions and a 71 per cent increase in value compared to 2020. A total of 52 415 investors concluded 72 207 new investments in 2021 wo...
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Dubai s real estate sector has attracted a total of 38 318 foreign investors who have sealed 51 553 new investments worth more than AED99 billion ( 53 billion) said experts ahead of a key industry event. To be held from March 24 to 26 International Property Show (IPS) 2022 serves as a powerful platform that connects local and international real estate developers with real estate investors from all over the world. Investors from Spain Austria Serbia and Montenegro USA Canada Equador and Mexico will be taking part in the event. As per reports Dubai s real estate market recorded 84 772 transactions representing a value of AED300 billion in 2021. There was a 65 per cent growth in the number of transactions and a 71 per cent increase in value compared to 2020. A total of 52 415 investors concluded 72 207 new investments in 2021 wo...
Cerberus Capital Management a global leader in alternative investing has announced that Rabih Sfeir has joined as a Managing Director and Head of Real Estate Capital Formation for the Middle East based in Dubai. Sfeir brings nearly 15 years of experience in capital fundraising and corporate development across real estate strategies. He most recently served as Head of Capital Formation for Real Estate at DigitalBridge where he managed and grew the firm s relationships with limited partners in the Middle East. Sfeir previously held senior financial and managerial positions at multinational groups including Kingdom Hotel Investments and LCH Holding. His appointment underscores our commitment to building long-term relationships with investors around the world said Lee Millstein President of Cerberus Global Inve...
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Cerberus Capital Management a global leader in alternative investing has announced that Rabih Sfeir has joined as a Managing Director and Head of Real Estate Capital Formation for the Middle East based in Dubai. Sfeir brings nearly 15 years of experience in capital fundraising and corporate development across real estate strategies. He most recently served as Head of Capital Formation for Real Estate at DigitalBridge where he managed and grew the firm s relationships with limited partners in the Middle East. Sfeir previously held senior financial and managerial positions at multinational groups including Kingdom Hotel Investments and LCH Holding. His appointment underscores our commitment to building long-term relationships with investors around the world said Lee Millstein President of Cerberus Global Inve...
Trimble an industrial technology firm has introduced the latest versions of its Tekla software solutions for constructible Building Information Modelling (BIM) structural engineering and steel fabrication management. They are Tekla Structures 2022 Tekla Structural Designer 2022 Tekla Tedds 2022 and Tekla PowerFab 2022. With the introduction Trimble continues to advance the constructible process which offers significant improvements in construction productivity efficiency and quality. The latest Tekla software supports sustainable construction and offers more automated and connected workflows across all project phases and stakeholders. Tekla software continues to transform the way the construction industry works said Michael Evans Senior Product Director at Trimble s Structures Division. Our product development focuses on delivering ...
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Trimble an industrial technology firm has introduced the latest versions of its Tekla software solutions for constructible Building Information Modelling (BIM) structural engineering and steel fabrication management. They are Tekla Structures 2022 Tekla Structural Designer 2022 Tekla Tedds 2022 and Tekla PowerFab 2022. With the introduction Trimble continues to advance the constructible process which offers significant improvements in construction productivity efficiency and quality. The latest Tekla software supports sustainable construction and offers more automated and connected workflows across all project phases and stakeholders. Tekla software continues to transform the way the construction industry works said Michael Evans Senior Product Director at Trimble s Structures Division. Our product development focuses on delivering ...
Meyer Group a leading shipbuilding consortium with three modern shipyards in Europe has joined forces with Admares Marine global leader in floating real estate to form a new joint venture targeting the Middle East in a big way. The new company headquartered in Turku Finland is named Meyer Floating Solutions and is focused on developing and manufacturing high quality floating real estate. The new company with extended capabilities will continue to serve Middle Eastern market in the future. There are several giga projects taking place especially in Saudi Arabia on which Meyer Floating Solutions can now assume the role of the main offsite manufacturer thanks to the new company structure. Middle Eastern countries will be the global forerunners when it comes to overwater projects. Meyer Floating Solution is currently fully represented in UAE and have started to pl...
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Meyer Group a leading shipbuilding consortium with three modern shipyards in Europe has joined forces with Admares Marine global leader in floating real estate to form a new joint venture targeting the Middle East in a big way. The new company headquartered in Turku Finland is named Meyer Floating Solutions and is focused on developing and manufacturing high quality floating real estate. The new company with extended capabilities will continue to serve Middle Eastern market in the future. There are several giga projects taking place especially in Saudi Arabia on which Meyer Floating Solutions can now assume the role of the main offsite manufacturer thanks to the new company structure. Middle Eastern countries will be the global forerunners when it comes to overwater projects. Meyer Floating Solution is currently fully represented in UAE and have started to pl...
The UAE s newly announced federal corporate tax will be beneficial for the domestic real estate sector in the long run even though it could portend a marginal negative impact in the short term says a report. The report by Kuwait Financial Centre Markaz titled Impact of UAE Corporate Tax on Real Estate takes a deeper look at the various aspect of the new tax regime and analyses anticipated effects on the residential office retail and industrial segments of the property market and the country s economy. On January 31 2022 the UAE announced plans to introduce corporate tax at a rate of 9 per cent for taxable net income greater than AED375 000 of companies. The regime will be effective for financial years starting on or after June 1 2023. The proposed tax rate is competitive and is comparable to global low tax hubs. A different tax rate would be applicable for multinationals that mee...
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The UAE s newly announced federal corporate tax will be beneficial for the domestic real estate sector in the long run even though it could portend a marginal negative impact in the short term says a report. The report by Kuwait Financial Centre Markaz titled Impact of UAE Corporate Tax on Real Estate takes a deeper look at the various aspect of the new tax regime and analyses anticipated effects on the residential office retail and industrial segments of the property market and the country s economy. On January 31 2022 the UAE announced plans to introduce corporate tax at a rate of 9 per cent for taxable net income greater than AED375 000 of companies. The regime will be effective for financial years starting on or after June 1 2023. The proposed tax rate is competitive and is comparable to global low tax hubs. A different tax rate would be applicable for multinationals that mee...
The Riyadh Region Municipality has banned construction or demolition activities in the city from the Maghrib call to prayer (5 to 6 pm) until 7 am reported Arab News. Violators of the prohibition will be fined SR10 000 ( 2 662) said the report citing a tweet from the municipality. The regulation is aimed at keeping neighbourhoods and residents free from disturbances it added. ...
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The Riyadh Region Municipality has banned construction or demolition activities in the city from the Maghrib call to prayer (5 to 6 pm) until 7 am reported Arab News. Violators of the prohibition will be fined SR10 000 ( 2 662) said the report citing a tweet from the municipality. The regulation is aimed at keeping neighbourhoods and residents free from disturbances it added. ...
Jadwa Investment a leading investment management and advisory firm in the Middle East has announced the successful launch of Liwan Investment Fund in partnership with Liwan Real Estate Company and Riyad Bank. Liwan Investment Fund is a SR312 million ( 83.14 million) closed-end Shariah-compliant real estate fund that has been launched for the purpose of developing a mixed-use residential and commercial complex in the Al Mohammadiya district of Riyadh. The fund appointed Liwan Real Estate Company a subsidiary of Tatweer Group as developer and secured SR200 million in debt financing from Riyadh Bank to finance land acquisition and development said a statement. Tariq Al-Sudairy Managing Director and CEO of Jadwa Investment commented: We are delighted to partner with Liwan Real Estate Company and to add Liwan Investment Fund to our growing r...
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Jadwa Investment a leading investment management and advisory firm in the Middle East has announced the successful launch of Liwan Investment Fund in partnership with Liwan Real Estate Company and Riyad Bank. Liwan Investment Fund is a SR312 million ( 83.14 million) closed-end Shariah-compliant real estate fund that has been launched for the purpose of developing a mixed-use residential and commercial complex in the Al Mohammadiya district of Riyadh. The fund appointed Liwan Real Estate Company a subsidiary of Tatweer Group as developer and secured SR200 million in debt financing from Riyadh Bank to finance land acquisition and development said a statement. Tariq Al-Sudairy Managing Director and CEO of Jadwa Investment commented: We are delighted to partner with Liwan Real Estate Company and to add Liwan Investment Fund to our growing r...
The Riyadh Region Municipality has banned construction or demolition activities in the city from the Maghrib call to prayer (5pm - 6 pm) until 7 am. Violators of the prohibition will be fined SR10 000 according to an Arab News report quoting the municipality s Twitter account. The regulation aims to keep neighborhoods and residents free from disturbances said the tweet. ...
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The Riyadh Region Municipality has banned construction or demolition activities in the city from the Maghrib call to prayer (5pm - 6 pm) until 7 am. Violators of the prohibition will be fined SR10 000 according to an Arab News report quoting the municipality s Twitter account. The regulation aims to keep neighborhoods and residents free from disturbances said the tweet. ...
Saudi government s giga projects and other initiatives as part of Vision 2030 has helped stimulate growth across the Kingdom and this will positively impact the property market in 2022 says JLL in its real estate outlook. JLL a leading professional services firm that specialises in real estate investment management and development consultancy services shared insights on what is on the horizon for the Saudi property market in 2022 at its real estate outlook event in Riyadh. Hosted under the theme A Reset for the Real Estate Sector Thierry Delvaux CEO of JLL Middle East Africa and Turkey and JLL experts provided an overview of the outlook for the property market a deep dive into the Saudi s construction market and shared insights on the workforce of the future. Sharing the macroeconomic overview at the event Delva...
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Saudi government s giga projects and other initiatives as part of Vision 2030 has helped stimulate growth across the Kingdom and this will positively impact the property market in 2022 says JLL in its real estate outlook. JLL a leading professional services firm that specialises in real estate investment management and development consultancy services shared insights on what is on the horizon for the Saudi property market in 2022 at its real estate outlook event in Riyadh. Hosted under the theme A Reset for the Real Estate Sector Thierry Delvaux CEO of JLL Middle East Africa and Turkey and JLL experts provided an overview of the outlook for the property market a deep dive into the Saudi s construction market and shared insights on the workforce of the future. Sharing the macroeconomic overview at the event Delva...
The region s first electric vehicle (EV) and battery logistics hub is now open in Dubai s Jebel Ali Free Zone. Built by DHL Global Forwarding and developed in close cooperation with the EV team of DHL Customer Solutions & Innovation (CSI) the 23 500-sq m warehouse includes a dedicated EV battery storage area which will be expanded to 2 000-sq m later this year. Fathi Tlatli President Global Auto-Mobility Sector DHL CSI said: It is extremely exciting for the DHL team to inaugurate the region s first facility for EV batteries and other dangerous goods. This Centre of Excellence complements our global EV logistics network and reflects our global experience matched with local expertise. It supports the UAE s and Middle East s transition to the circular economy by ensuring a consistent supply chain for sustainable mobility s...
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The region s first electric vehicle (EV) and battery logistics hub is now open in Dubai s Jebel Ali Free Zone. Built by DHL Global Forwarding and developed in close cooperation with the EV team of DHL Customer Solutions & Innovation (CSI) the 23 500-sq m warehouse includes a dedicated EV battery storage area which will be expanded to 2 000-sq m later this year. Fathi Tlatli President Global Auto-Mobility Sector DHL CSI said: It is extremely exciting for the DHL team to inaugurate the region s first facility for EV batteries and other dangerous goods. This Centre of Excellence complements our global EV logistics network and reflects our global experience matched with local expertise. It supports the UAE s and Middle East s transition to the circular economy by ensuring a consistent supply chain for sustainable mobility s...
Jazeera Paints a leading Saudi company specialising in the field of paints colours and construction solutions played a key role as the Construction Solutions Partner at the two-day Real Estate Future Forum held recently in Riyadh. During the event Jazeera presented a summary of what has been reached by its team of researchers and experts in this field. It also provided innovative structural solutions to real estate developers such as zero-emission paints fire-retardant paints innovative thermal and water-based insulators and other products to address cracks and holes in the wall. Jazeera pointed out that this partnership with the Real Estate Future Forum stems from its interest in raising the quality of life in real estate development whether in raising the rate of safety and security health and beauty on buildings. The event ...
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Jazeera Paints a leading Saudi company specialising in the field of paints colours and construction solutions played a key role as the Construction Solutions Partner at the two-day Real Estate Future Forum held recently in Riyadh. During the event Jazeera presented a summary of what has been reached by its team of researchers and experts in this field. It also provided innovative structural solutions to real estate developers such as zero-emission paints fire-retardant paints innovative thermal and water-based insulators and other products to address cracks and holes in the wall. Jazeera pointed out that this partnership with the Real Estate Future Forum stems from its interest in raising the quality of life in real estate development whether in raising the rate of safety and security health and beauty on buildings. The event ...
Saudi developer Etqaan Real Estate is set to launch projects worth SR3billion ( 800 million) reported Arab News . A total of six projects will be auctioned by the developer within the coming three months stated the report citing the company s chairman. The move comes amid efforts by Etqaan Real Estate to grow and expand its reach across the kingdom stated Abdulaziz Alrasheed. When asked in an interview by CNBC Arabiya Alrasheed said the firm plans to join the kingdom s listing wave. We are working on a plan for an initial public offering whether on the parallel market or the main market he added. ...
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Saudi developer Etqaan Real Estate is set to launch projects worth SR3billion ( 800 million) reported Arab News . A total of six projects will be auctioned by the developer within the coming three months stated the report citing the company s chairman. The move comes amid efforts by Etqaan Real Estate to grow and expand its reach across the kingdom stated Abdulaziz Alrasheed. When asked in an interview by CNBC Arabiya Alrasheed said the firm plans to join the kingdom s listing wave. We are working on a plan for an initial public offering whether on the parallel market or the main market he added. ...
The Kingdom of Bahrain has ranked 15th overall among the world s most competitive emerging markets and fifth in the area of business fundamentals according to the 2022 Agility Emerging Markets Logistics Index. The Index ranks 50 countries by factors that make them attractive to logistics providers freight forwarders shipping lines air cargo carriers and distributors. It measures logistics performance based on multiple areas: (1) Business Fundamentals (2) Domestic Logistics Opportunities (3) International Logistics Opportunities (4) and Digital Readiness. Gulf countries dominated in the area of business fundamentals with the UAE ranking first followed by Saudi Arabia which ranked third. Bahrain followed jumping two spots from last year to rank 5th. Bahrain offers free zones across a range of manufacturing sectors as well as 100% foreign ownership of enterprises. The country also plans to attract more manufacturers...
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The Kingdom of Bahrain has ranked 15th overall among the world s most competitive emerging markets and fifth in the area of business fundamentals according to the 2022 Agility Emerging Markets Logistics Index. The Index ranks 50 countries by factors that make them attractive to logistics providers freight forwarders shipping lines air cargo carriers and distributors. It measures logistics performance based on multiple areas: (1) Business Fundamentals (2) Domestic Logistics Opportunities (3) International Logistics Opportunities (4) and Digital Readiness. Gulf countries dominated in the area of business fundamentals with the UAE ranking first followed by Saudi Arabia which ranked third. Bahrain followed jumping two spots from last year to rank 5th. Bahrain offers free zones across a range of manufacturing sectors as well as 100% foreign ownership of enterprises. The country also plans to attract more manufacturers...
DP World one of the world s leading providers of smart logistics has announced that it has received all regulatory approvals for 100 per cent acquisition of Imperial Logistics an integrated logistics and market access company with operations mainly across the African continent and in Europe. The transaction is now unconditional and will be implemented on March 14 said DP World in its statement. DP World and its subsidiaries employ over 71 000 people across its worldwide operations and its vision is to drive economic growth through creating more efficient supply chains connecting markets driving global trade flow and offering innovative solutions to cargo owners while ensuring a positive and sustainable impact on societies and the planet. Group Chairman and CEO Sultan Ahmed Bin Sulayem said: We are excited to conclude our acquisition of Imperial which has a s...
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DP World one of the world s leading providers of smart logistics has announced that it has received all regulatory approvals for 100 per cent acquisition of Imperial Logistics an integrated logistics and market access company with operations mainly across the African continent and in Europe. The transaction is now unconditional and will be implemented on March 14 said DP World in its statement. DP World and its subsidiaries employ over 71 000 people across its worldwide operations and its vision is to drive economic growth through creating more efficient supply chains connecting markets driving global trade flow and offering innovative solutions to cargo owners while ensuring a positive and sustainable impact on societies and the planet. Group Chairman and CEO Sultan Ahmed Bin Sulayem said: We are excited to conclude our acquisition of Imperial which has a s...
The total value of infrastructure and construction projects in the Gulf Cooperation Council (GCC) region reached approximately to 3.2 trillion in mid-2021 according to reports of which a large chunk is expected to be executed through the Public-Private Partnership (PPP) route creating a massive opportunity for large players. Worldwide infrastructure spending is on the rise and will grow to 9 trillion in 2025 according to a forecast by global accounting firm PriceWaterhouseCoopers (PwC). As many as 242 PPP projects worth 223 billion are under development in the Middle East and North Africa region said industry experts at the two-day PPP Mena Forum which kicked off today (February 23) in Dubai. This figure is set to go up as project execution picks up with return to normalcy and higher oil price that will fuel economic growth in the Middle East pushing public-private ...
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The total value of infrastructure and construction projects in the Gulf Cooperation Council (GCC) region reached approximately to 3.2 trillion in mid-2021 according to reports of which a large chunk is expected to be executed through the Public-Private Partnership (PPP) route creating a massive opportunity for large players. Worldwide infrastructure spending is on the rise and will grow to 9 trillion in 2025 according to a forecast by global accounting firm PriceWaterhouseCoopers (PwC). As many as 242 PPP projects worth 223 billion are under development in the Middle East and North Africa region said industry experts at the two-day PPP Mena Forum which kicked off today (February 23) in Dubai. This figure is set to go up as project execution picks up with return to normalcy and higher oil price that will fuel economic growth in the Middle East pushing public-private ...
The Sustainable City the region s first fully-operational sustainable community and its sister development Sharjah Sustainable City have both won four gold awards at the Gulf Real Estate Awards 2022 in Dubai. A strategic partnership between Sharjah Investment and Development Authority (Shurooq) and Diamond Developers (the region s leading sustainable development company) The Sustainable City features eco-friendly and energy-efficient villas vertical farms autonomous shuttles as well as a school and a sustainability experience centre. It is the first urban mixed-use project in Sharjah meeting the highest standards of green economy and environmental sustainability said the statement from the Sharjah developer. The Sustainable City operating in Dubai since 2016 emerged winner in both the Customer Happiness and Customer Experience Initiative...
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The Sustainable City the region s first fully-operational sustainable community and its sister development Sharjah Sustainable City have both won four gold awards at the Gulf Real Estate Awards 2022 in Dubai. A strategic partnership between Sharjah Investment and Development Authority (Shurooq) and Diamond Developers (the region s leading sustainable development company) The Sustainable City features eco-friendly and energy-efficient villas vertical farms autonomous shuttles as well as a school and a sustainability experience centre. It is the first urban mixed-use project in Sharjah meeting the highest standards of green economy and environmental sustainability said the statement from the Sharjah developer. The Sustainable City operating in Dubai since 2016 emerged winner in both the Customer Happiness and Customer Experience Initiative...
Bahrain s real estate sector witnessed solid growth in 2021 with the transactions value surging to BD1 billion ( 2.62 billion) up 46 per cent over the previous year underpinned by landmark government initiatives and an improving outlook according to global real estate advisor Savills. Various government initiatives introduced throughout the course of 2021 have helped drive an increase in property transaction values in Bahrain and generated optimism in local market sentiment across the residential sector stated Savills in its Q4 2021 update on the Bahrain market. To maintain this strong growth momentum the government revealed a four-year National Real Estate Plan 2021-2024 in March 2021 to promote investments into the sector develop innovative real estate enterprises and preserve all the stakeholders rights thereby creating a secure and transparent real estate sector. /d...
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Bahrain s real estate sector witnessed solid growth in 2021 with the transactions value surging to BD1 billion ( 2.62 billion) up 46 per cent over the previous year underpinned by landmark government initiatives and an improving outlook according to global real estate advisor Savills. Various government initiatives introduced throughout the course of 2021 have helped drive an increase in property transaction values in Bahrain and generated optimism in local market sentiment across the residential sector stated Savills in its Q4 2021 update on the Bahrain market. To maintain this strong growth momentum the government revealed a four-year National Real Estate Plan 2021-2024 in March 2021 to promote investments into the sector develop innovative real estate enterprises and preserve all the stakeholders rights thereby creating a secure and transparent real estate sector. /d...
Trimble a global leader in construction technology said Dubai s Museum of the Future was built using advanced construction technologies and software including its flagship product Tekla Structures. Tekla Structures enhanced and simplified the details and workflow in the designing fabricating and co-ordinating phases of this landmark project which opens its doors tomorrow (February 22). Revealing how its solutions boosted the project s workflow Trimble said with its size and complex design the Museum of the Future involved using massive amounts of data during the design phase and Eversendai integrated Tekla Structures Trimble s flagship software solution to make the workflow seamless and deliver precise interface requirements. Eversendai also utilized a cloud collaboration tool from Trimble portfolio to identify p...
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Trimble a global leader in construction technology said Dubai s Museum of the Future was built using advanced construction technologies and software including its flagship product Tekla Structures. Tekla Structures enhanced and simplified the details and workflow in the designing fabricating and co-ordinating phases of this landmark project which opens its doors tomorrow (February 22). Revealing how its solutions boosted the project s workflow Trimble said with its size and complex design the Museum of the Future involved using massive amounts of data during the design phase and Eversendai integrated Tekla Structures Trimble s flagship software solution to make the workflow seamless and deliver precise interface requirements. Eversendai also utilized a cloud collaboration tool from Trimble portfolio to identify p...
Abu Dhabi registered real estate transactions totalling AED71.5 billion ( 19.47 billion) in 2021 a report by the Department of Municipalities and Transport (DMT) - Abu Dhabi showed. The figure represents a combined 14 958 sales and mortgage transactions with Yas Island topping list of best performing areas with AED4.1 billion in real estate deals a Wam news agency report said. Reem Islands came second with AED3.2 billion followed by Saadiyat with AED2.5 billion. The results reflect Abu Dhabi s sustainable real estate development and ongoing attractiveness as a leading city for investment and living said Dr Adeeb Alafeefi Executive Director of DMT Real Estate Sector. ...
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Abu Dhabi registered real estate transactions totalling AED71.5 billion ( 19.47 billion) in 2021 a report by the Department of Municipalities and Transport (DMT) - Abu Dhabi showed. The figure represents a combined 14 958 sales and mortgage transactions with Yas Island topping list of best performing areas with AED4.1 billion in real estate deals a Wam news agency report said. Reem Islands came second with AED3.2 billion followed by Saadiyat with AED2.5 billion. The results reflect Abu Dhabi s sustainable real estate development and ongoing attractiveness as a leading city for investment and living said Dr Adeeb Alafeefi Executive Director of DMT Real Estate Sector. ...
The UAE real estate market continued to recover in varying degrees across all asset classes including residential office and retail delivery sectors a trend that will likely continue in 2022 according to a new report The Q4 2021 UAE Real Estate Report by property management experts Asteco revealed a significant surge in activity and pricing for villas and townhouses segments with this rally persisting since H1 2020 till date. Asteco is led by H P Aengaar Chief Executive Officer. 2021 Highlights Lockdowns and increased prevalence of working from home resulted in a number of residents migrating to villas seeking larger space and private outdoor areas. The report also showed that despite the apartment sector performance not being uniform throughout the period sales have shown an increased level of interest since the beginning of ...
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The UAE real estate market continued to recover in varying degrees across all asset classes including residential office and retail delivery sectors a trend that will likely continue in 2022 according to a new report The Q4 2021 UAE Real Estate Report by property management experts Asteco revealed a significant surge in activity and pricing for villas and townhouses segments with this rally persisting since H1 2020 till date. Asteco is led by H P Aengaar Chief Executive Officer. 2021 Highlights Lockdowns and increased prevalence of working from home resulted in a number of residents migrating to villas seeking larger space and private outdoor areas. The report also showed that despite the apartment sector performance not being uniform throughout the period sales have shown an increased level of interest since the beginning of ...
Construction has made important headway on Neom the 500 billion futuristic megacity coming in Saudi Arabia with all portions of the project being built simultaneously a senior official has been quoted as saying. Brett Smythe chief projects officer of NEOM said in an interview with Arab News that work has made important headway on Neom s road and utility backbone its first permanent villages marine works and social infrastructure. All regions of Neom will be built simultaneously in keeping with the project s mission to accelerate and deliver progress according to him. Work has also commenced on The Line a series of communities built along a 170-km strip of land from the Red Sea deep into the interior of Saudi Arabia integrated with The Spine the transport and logistics backbone...
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Construction has made important headway on Neom the 500 billion futuristic megacity coming in Saudi Arabia with all portions of the project being built simultaneously a senior official has been quoted as saying. Brett Smythe chief projects officer of NEOM said in an interview with Arab News that work has made important headway on Neom s road and utility backbone its first permanent villages marine works and social infrastructure. All regions of Neom will be built simultaneously in keeping with the project s mission to accelerate and deliver progress according to him. Work has also commenced on The Line a series of communities built along a 170-km strip of land from the Red Sea deep into the interior of Saudi Arabia integrated with The Spine the transport and logistics backbone...
The UAE construction projects market rebounded last year with the residential sector turning out to be the highest performer within construction asset awards. This trend is expected to continue thorough-out 2022 with an increasing demand for residential units according to JLL one of the world s leading real estate investment and advisory firms. The UAE s vision programmes federal budget and the oil price recovery should create positive market sentiment ultimately driving construction activity over the course of the year stated JLL at its annual outlook event hosted in Dubai. Thierry Delvaux CEO of JLL Middle East Africa and Turkey and his team provided an overview of the outlook for the property market trends driving sustainability demand for flexible office space themes transforming international real estate UAE construction cost trends as well as insights on the workforce of the future at...
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The UAE construction projects market rebounded last year with the residential sector turning out to be the highest performer within construction asset awards. This trend is expected to continue thorough-out 2022 with an increasing demand for residential units according to JLL one of the world s leading real estate investment and advisory firms. The UAE s vision programmes federal budget and the oil price recovery should create positive market sentiment ultimately driving construction activity over the course of the year stated JLL at its annual outlook event hosted in Dubai. Thierry Delvaux CEO of JLL Middle East Africa and Turkey and his team provided an overview of the outlook for the property market trends driving sustainability demand for flexible office space themes transforming international real estate UAE construction cost trends as well as insights on the workforce of the future at...
Leading industry players from Saudi Arabia will be taking part in the Gulf Construction Expo 2022 in Bahrain which is being held under the patronage of His Royal Highness Prince Salman bin Hamad Al Khalifa the Crown Prince and Prime Minister next month. Taking place at Bahrain International Exhibition Centre the Gulf Construction Expo will be held from March 22 to 24 along with Northern Gulf s two other leading annual exhibitions - The Gulf Property Show and Interiors Expo said the event organisers Hilal Conferences and Exhibitions (HCE). Among the most prominent Saudi companies participating in the event Expo include Arabian Vermiculite Industries (AVI) Construction Material Chemical Industries (CMCI) KBE International Panels Technology Factory (Techno Panel) and Saudi Perlite. These companies will be offering a diverse product range of building and construction m...
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Leading industry players from Saudi Arabia will be taking part in the Gulf Construction Expo 2022 in Bahrain which is being held under the patronage of His Royal Highness Prince Salman bin Hamad Al Khalifa the Crown Prince and Prime Minister next month. Taking place at Bahrain International Exhibition Centre the Gulf Construction Expo will be held from March 22 to 24 along with Northern Gulf s two other leading annual exhibitions - The Gulf Property Show and Interiors Expo said the event organisers Hilal Conferences and Exhibitions (HCE). Among the most prominent Saudi companies participating in the event Expo include Arabian Vermiculite Industries (AVI) Construction Material Chemical Industries (CMCI) KBE International Panels Technology Factory (Techno Panel) and Saudi Perlite. These companies will be offering a diverse product range of building and construction m...
The Saudi Ports Authority (Mawani) has reached a long-term agreement with shipping giant Bahri for the construction and operation of an integrated logistics park over a land leased at the Jeddah Islamic Port with a total area of 95436 sq m. Once built Bahri will manage operations at the state-of-the-art facility for a duration of 20 years said the statement from Mawani. The 95 436-sq-m logistics zone will provide storage and handling services for all types of inbound and outbound shipping containers that are owned by Bahri and other entities. It will be capable of storing reefer insulated and dry containers with services like container maintenance and repair container cleaning bonded storage and haulage available to clients at any given point it stated. Launching this project forms a core part of our initiatives to ach...
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The Saudi Ports Authority (Mawani) has reached a long-term agreement with shipping giant Bahri for the construction and operation of an integrated logistics park over a land leased at the Jeddah Islamic Port with a total area of 95436 sq m. Once built Bahri will manage operations at the state-of-the-art facility for a duration of 20 years said the statement from Mawani. The 95 436-sq-m logistics zone will provide storage and handling services for all types of inbound and outbound shipping containers that are owned by Bahri and other entities. It will be capable of storing reefer insulated and dry containers with services like container maintenance and repair container cleaning bonded storage and haulage available to clients at any given point it stated. Launching this project forms a core part of our initiatives to ach...
The real estate market in the GCC region is poised for continued post-pandemic recovery and sustained growth in 2022 according to a report by Kuwait Financial Centre (Markaz). The series of reports also analyze the performance of the Mena real estate sector in H2-2021 and outline the major reforms events and developments influencing new and emerging trends stated Markaz in its Real Estate 2022 Outlook reports for Saudi Arabia Kuwait and the UAE. The reports were prepared based on the Markaz Real Estate Macro Index to help investors identify the current state of the GCC real estate market through various economic indicators such as oil and non-oil GDP growth inflation new job creation population growth among others. According to the report GCC real estate sector will experience a noticeable rebound and stability in 2022 due to varying f...
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The real estate market in the GCC region is poised for continued post-pandemic recovery and sustained growth in 2022 according to a report by Kuwait Financial Centre (Markaz). The series of reports also analyze the performance of the Mena real estate sector in H2-2021 and outline the major reforms events and developments influencing new and emerging trends stated Markaz in its Real Estate 2022 Outlook reports for Saudi Arabia Kuwait and the UAE. The reports were prepared based on the Markaz Real Estate Macro Index to help investors identify the current state of the GCC real estate market through various economic indicators such as oil and non-oil GDP growth inflation new job creation population growth among others. According to the report GCC real estate sector will experience a noticeable rebound and stability in 2022 due to varying f...
Abu Dhabi s Department of Municipalities and Transport (DMT) has launched a new real estate digital ecosystem (Dari) which integrates the emirate s real estate services into a unified platform to provide integrated comprehensive and advanced services. Dari was developed in collaboration between the DMT and the Advanced Real Estate Services Company (ADRES). The platform aims to allow users to benefit from a smooth and flexible experience to manage their various real estate transactions thereby enhancing the attractiveness of real estate investment. It will contribute to the development of quality real estate services in Abu Dhabi with its commitment to transparency in providing data to investors said the statement from DMT. It falls within the scope of DMT s strategic objectives of promoting collaboration between the priva...
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Abu Dhabi s Department of Municipalities and Transport (DMT) has launched a new real estate digital ecosystem (Dari) which integrates the emirate s real estate services into a unified platform to provide integrated comprehensive and advanced services. Dari was developed in collaboration between the DMT and the Advanced Real Estate Services Company (ADRES). The platform aims to allow users to benefit from a smooth and flexible experience to manage their various real estate transactions thereby enhancing the attractiveness of real estate investment. It will contribute to the development of quality real estate services in Abu Dhabi with its commitment to transparency in providing data to investors said the statement from DMT. It falls within the scope of DMT s strategic objectives of promoting collaboration between the priva...
Looking to cement its position as an industry innovator Alec a part of the Investment Corporation of Dubai (ICD) has set out an ambitious strategy to accelerate the ongoing digitisation of its operations. In line with this objective the company has announced the appointment of Andy Boutle as its head of digital construction. In this newly created role Boutle will focus on the digitisation of the entire value chain for projects undertaken by Alec with an emphasis on increasing workflow communication and vertical efficiencies. Analysis by McKinsey Global Institute (MGI) found investing in technology and innovation to be one of the key factors in boosting the construction sector s productivity by up to 60 percent. But while digital technologies - ranging from Building Information Modelling (BIM) and Augmented/Virtual Reali...
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Looking to cement its position as an industry innovator Alec a part of the Investment Corporation of Dubai (ICD) has set out an ambitious strategy to accelerate the ongoing digitisation of its operations. In line with this objective the company has announced the appointment of Andy Boutle as its head of digital construction. In this newly created role Boutle will focus on the digitisation of the entire value chain for projects undertaken by Alec with an emphasis on increasing workflow communication and vertical efficiencies. Analysis by McKinsey Global Institute (MGI) found investing in technology and innovation to be one of the key factors in boosting the construction sector s productivity by up to 60 percent. But while digital technologies - ranging from Building Information Modelling (BIM) and Augmented/Virtual Reali...
AD Ports Group the region s premier facilitator of logistics industry and trade said it has partnered with UAE-based multi-business conglomerate Ghassan Aboud Group to establish one of the region s largest multi-category wholesale food trading and logistics hub in Khalifa Industrial Zone Abu Dhabi (Kizad) in collaboration with Rungis International Market. Headquartered in Paris Rungis is one of the largest wholesale fresh food markets in the world with a turnover of euros 10 billion. The project was announced at the official project launch ceremony held on-site in Kizad. The Regional Food Hub - Abu Dhabi in collaboration with Rungis will bring together wholesale buyers sellers logistics players consolidators and distributors from across the world enhancing the diversity of all food categories available for consumers in the UAE and wider region...
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AD Ports Group the region s premier facilitator of logistics industry and trade said it has partnered with UAE-based multi-business conglomerate Ghassan Aboud Group to establish one of the region s largest multi-category wholesale food trading and logistics hub in Khalifa Industrial Zone Abu Dhabi (Kizad) in collaboration with Rungis International Market. Headquartered in Paris Rungis is one of the largest wholesale fresh food markets in the world with a turnover of euros 10 billion. The project was announced at the official project launch ceremony held on-site in Kizad. The Regional Food Hub - Abu Dhabi in collaboration with Rungis will bring together wholesale buyers sellers logistics players consolidators and distributors from across the world enhancing the diversity of all food categories available for consumers in the UAE and wider region...
Hamburg-based Körber an international technology group has signed an agreement to acquire Siemens Logistics global mail and parcel business for an enterprise value 1.15 billion ( 1.31 billion). Siemens Logistics provides cutting-edge mail and parcel technology and advanced software for leading global logistics providers. With the acquisition Körber significantly complements its supply chain offering. As a leading provider in Europe with a strong market presence in North America and a foothold in the fast-growing Chinese market the mail and parcel business of Siemens Logistics is ideally positioned for further growth. The company provides mail and parcel technology and fully automated solutions for digitized mail and parcel processing for leading global logistics companies. With around 1 200 employees Siemens Logistics mail and parcel business generates annual revenue of about 500 million. ...
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Hamburg-based Körber an international technology group has signed an agreement to acquire Siemens Logistics global mail and parcel business for an enterprise value 1.15 billion ( 1.31 billion). Siemens Logistics provides cutting-edge mail and parcel technology and advanced software for leading global logistics providers. With the acquisition Körber significantly complements its supply chain offering. As a leading provider in Europe with a strong market presence in North America and a foothold in the fast-growing Chinese market the mail and parcel business of Siemens Logistics is ideally positioned for further growth. The company provides mail and parcel technology and fully automated solutions for digitized mail and parcel processing for leading global logistics companies. With around 1 200 employees Siemens Logistics mail and parcel business generates annual revenue of about 500 million. ...
Saudi-based Etqaan Real Estate is all set to auction a range of hotels and plots of land besides the beachfront Yanbu Pearl Resort featuring 244 regular suites 36 royal suites and other key amenities. The auction includes the Pearl Resort in Yanbu Al Bustan Taiba Hotel Golden Arjwan Hotel as well as the Second and Third District plots of land. Real estate investors are eagerly waiting to grab the five real estate opportunities up for sale in Al Madina and Yanbu at the Jewels of Al Madina public auction scheduled to open at 4pm tomorrow (February 10) at Hotel Le Meridien Madina. Al Madina accounts for more than 20 percent of the demand share for real estate in the Saudi market but quality properties are scarce and demand is high said Etqaan Real Estate which is hosting the auction. Thanks to its rich history and famou...
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Saudi-based Etqaan Real Estate is all set to auction a range of hotels and plots of land besides the beachfront Yanbu Pearl Resort featuring 244 regular suites 36 royal suites and other key amenities. The auction includes the Pearl Resort in Yanbu Al Bustan Taiba Hotel Golden Arjwan Hotel as well as the Second and Third District plots of land. Real estate investors are eagerly waiting to grab the five real estate opportunities up for sale in Al Madina and Yanbu at the Jewels of Al Madina public auction scheduled to open at 4pm tomorrow (February 10) at Hotel Le Meridien Madina. Al Madina accounts for more than 20 percent of the demand share for real estate in the Saudi market but quality properties are scarce and demand is high said Etqaan Real Estate which is hosting the auction. Thanks to its rich history and famou...
The UAE construction projects market rebounded last year with the residential sector being the highest performer within construction asset awards. This trend is likely to continue thoroughout 2022 with an increasing demand for residential units according to leading real estate investment and advisory firm JLL. The property expert recently shared insights on what is on the horizon for the regional property market in 2022 at its annual outlook event hosted in Dubai. Hosted under the theme A Reset for the Real Estate Sector Thierry Delvaux CEO of JLL Middle East Africa and Turkey and his team provided an overview of the outlook for the property market trends driving sustainability demand for flexible office space themes transforming international real estate UAE construction cost trends as well as insights on the workforce of the future. The theme of our event th...
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The UAE construction projects market rebounded last year with the residential sector being the highest performer within construction asset awards. This trend is likely to continue thoroughout 2022 with an increasing demand for residential units according to leading real estate investment and advisory firm JLL. The property expert recently shared insights on what is on the horizon for the regional property market in 2022 at its annual outlook event hosted in Dubai. Hosted under the theme A Reset for the Real Estate Sector Thierry Delvaux CEO of JLL Middle East Africa and Turkey and his team provided an overview of the outlook for the property market trends driving sustainability demand for flexible office space themes transforming international real estate UAE construction cost trends as well as insights on the workforce of the future. The theme of our event th...
Universal Rolling (Unirol) the first manufacturer of steel reinforcement bars in Bahrain will be Steel Sector Sponsor for the Gulf Construction Expo the Northern Gulf s leading annual exhibition. Taking place at Bahrain International Exhibition Centre the Gulf Construction Expo will be held under the patronage of His Royal Highness Prince Salman bin Hamad Al Khalifa the Crown Prince and Prime Minister from March 22 to 24 said the event organisers Hilal Conferences and Exhibitions (HCE). Along with this Bahrain-based HCE will also be hosting Northern Gulf s two other leading annual exhibitions - The Gulf Property Show and Interiors Expo stated HCE. Announcing the tieup Unirol plays an active role in the development of Bahrain s infrastructure as a reliable supplier of reinforcement steel bars. The company is ready to supply the kingdom s marque projects in...
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Universal Rolling (Unirol) the first manufacturer of steel reinforcement bars in Bahrain will be Steel Sector Sponsor for the Gulf Construction Expo the Northern Gulf s leading annual exhibition. Taking place at Bahrain International Exhibition Centre the Gulf Construction Expo will be held under the patronage of His Royal Highness Prince Salman bin Hamad Al Khalifa the Crown Prince and Prime Minister from March 22 to 24 said the event organisers Hilal Conferences and Exhibitions (HCE). Along with this Bahrain-based HCE will also be hosting Northern Gulf s two other leading annual exhibitions - The Gulf Property Show and Interiors Expo stated HCE. Announcing the tieup Unirol plays an active role in the development of Bahrain s infrastructure as a reliable supplier of reinforcement steel bars. The company is ready to supply the kingdom s marque projects in...
H&S Real Estate a Dubai-based real estate company and partner of Emaar Alliance celebrated Chinese New Year in style with a special light show at Burj Khalifa. Around 500 Chinese community members took part in the festivities to mark China s new lunar year. H&S Real Estate is the official Alliance Partner and sales agency for Emaar Properties in the UAE China and in Pakistan. The Chinese investors based in UAE and back in China enjoy a strong relations and level of trust on advice from H&S Real Estate when it comes to selecting the right property in the UAE with higher ROI. Group CEO (UAE & China regions) Saad Haq said: Prior to the Covid-19 pandemic H&S Real Estate had a permanent office with a large team deployed in Mainland China. But we had to halt our operations due to flight restrictions. /di...
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H&S Real Estate a Dubai-based real estate company and partner of Emaar Alliance celebrated Chinese New Year in style with a special light show at Burj Khalifa. Around 500 Chinese community members took part in the festivities to mark China s new lunar year. H&S Real Estate is the official Alliance Partner and sales agency for Emaar Properties in the UAE China and in Pakistan. The Chinese investors based in UAE and back in China enjoy a strong relations and level of trust on advice from H&S Real Estate when it comes to selecting the right property in the UAE with higher ROI. Group CEO (UAE & China regions) Saad Haq said: Prior to the Covid-19 pandemic H&S Real Estate had a permanent office with a large team deployed in Mainland China. But we had to halt our operations due to flight restrictions. /di...
Kuwait-based real estate developer Al Mazaya Holding has announced a net profit of 1.3 million for the full-year 2021 when compared to the preious year s figure of more than 27.9 million in losses. This growth is mainly due to the jump in income from operational activities and decline in finance costs said Al Mazaya in its bourse filing. A publicly-traded company Al Mazaya is listed on both the Dubai Financial Market (DFM) and Boursa Kuwait. It is involved in purchase ownership and sale of land and its development for the company inside and outside of Kuwait. Al Mazaya also handles the management of third parties properties and management operation and investment leasing and rent of hotels health clubs recreational parks gardens exhibition grounds restaurants residential and commercial complexes and tourist and health resorts.  ...
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Kuwait-based real estate developer Al Mazaya Holding has announced a net profit of 1.3 million for the full-year 2021 when compared to the preious year s figure of more than 27.9 million in losses. This growth is mainly due to the jump in income from operational activities and decline in finance costs said Al Mazaya in its bourse filing. A publicly-traded company Al Mazaya is listed on both the Dubai Financial Market (DFM) and Boursa Kuwait. It is involved in purchase ownership and sale of land and its development for the company inside and outside of Kuwait. Al Mazaya also handles the management of third parties properties and management operation and investment leasing and rent of hotels health clubs recreational parks gardens exhibition grounds restaurants residential and commercial complexes and tourist and health resorts.  ...
A delegation representing Saudi Arabia s transport and logistics sector participated in the 101st annual meeting of the Transportation Research Board (TRB) held in Washington DC USA last month (January 9 to 13). Joined by a number of sector specialists Dr Mansour Al-Turki Deputy Minister of Transport and Logistics for Planning and Information headed the Saudi delegation participating in the TRB activities. The meeting is one of the largest global events for specialists and experts in the transport industry. This year it featured more than 400 workshops and seminars on the latest key developments in research legislation innovations and best practices in the transport sector with participation of more than 150 specialised entities and 170 technical committees. This participation comes as part of efforts to facilitate Saudi Arabia s ambitious t...
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A delegation representing Saudi Arabia s transport and logistics sector participated in the 101st annual meeting of the Transportation Research Board (TRB) held in Washington DC USA last month (January 9 to 13). Joined by a number of sector specialists Dr Mansour Al-Turki Deputy Minister of Transport and Logistics for Planning and Information headed the Saudi delegation participating in the TRB activities. The meeting is one of the largest global events for specialists and experts in the transport industry. This year it featured more than 400 workshops and seminars on the latest key developments in research legislation innovations and best practices in the transport sector with participation of more than 150 specialised entities and 170 technical committees. This participation comes as part of efforts to facilitate Saudi Arabia s ambitious t...
Hilti Group a leading supplier of products for the construction and energy industries has announced a strategic partnership with Trackunit a major SaaS-based IoT solutions provider to advance digital transformation in the construction industry. The partnership is focused on bringing global scale to the tool and equipment connectivity domain. Together with Trackunit an industry leader in fleet management services Hilti is now able to strengthen its ON!Track asset management solution. At the same time the Trackunit platform will be enriched with additional tool-related data. The partnership also seeks to expand the ever-growing network of Trackunit devices providing increased connectivity around the globe through advanced Bluetooth technology. It enables the industry to detect tags on smaller tools and equipment capture insights from tool and equipment data and offer an integrated customer exper...
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Hilti Group a leading supplier of products for the construction and energy industries has announced a strategic partnership with Trackunit a major SaaS-based IoT solutions provider to advance digital transformation in the construction industry. The partnership is focused on bringing global scale to the tool and equipment connectivity domain. Together with Trackunit an industry leader in fleet management services Hilti is now able to strengthen its ON!Track asset management solution. At the same time the Trackunit platform will be enriched with additional tool-related data. The partnership also seeks to expand the ever-growing network of Trackunit devices providing increased connectivity around the globe through advanced Bluetooth technology. It enables the industry to detect tags on smaller tools and equipment capture insights from tool and equipment data and offer an integrated customer exper...
Arcapita Group Holdings a global alternative investment firm headquartered in Bahrain has announced that it has acquired a significant controlling interest in Nationwide Property and Appraisal Services the second largest independent appraisal management company in the US which serves mortgage lending institutions across all 50 states. Nationwide is a market leader with a network of over 15 000 licensed appraisers with its clients including more than 100 blue-chip lenders and 21 of the top 25 wholesale lenders in the US. The company has industry leading appraisal turnaround times and accuracy rates. Having completed and integrated 5 add-on acquisitions over the past few years the company has grown revenues at a CAGR of 14.3% over the past four years and Nationwide management estimates revenue and an adjusted ebitda of 144 million and 15 million respectively in 2021. On the...
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Arcapita Group Holdings a global alternative investment firm headquartered in Bahrain has announced that it has acquired a significant controlling interest in Nationwide Property and Appraisal Services the second largest independent appraisal management company in the US which serves mortgage lending institutions across all 50 states. Nationwide is a market leader with a network of over 15 000 licensed appraisers with its clients including more than 100 blue-chip lenders and 21 of the top 25 wholesale lenders in the US. The company has industry leading appraisal turnaround times and accuracy rates. Having completed and integrated 5 add-on acquisitions over the past few years the company has grown revenues at a CAGR of 14.3% over the past four years and Nationwide management estimates revenue and an adjusted ebitda of 144 million and 15 million respectively in 2021. On the...
UAE-based First Abu Dhabi Real Estate Company has signed an agreement with Abu Dhabi Energy Services Company a subsidiary of Abu Dhabi s national energy company Taqa to help reduce electricity and water consumption within its facilities and buildings. This comes in line with global efforts aimed at building a more sustainable and prosperous future said the company in a statement. As per the deal Abu Dhabi Energy Services will contribute to the rehabilitation of facilities and buildings of First Abu Dhabi Real Estate through solutions aimed at reducing electricity and water consumption and enhancing the sustainability and efficiency of energy resources. The content and objectives of this cooperation are in line with the Abu Dhabi Strategy for Demand Side Management and Energy Efficiency 2030 it added. First Abu Dhabi Real Estate Compa...
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UAE-based First Abu Dhabi Real Estate Company has signed an agreement with Abu Dhabi Energy Services Company a subsidiary of Abu Dhabi s national energy company Taqa to help reduce electricity and water consumption within its facilities and buildings. This comes in line with global efforts aimed at building a more sustainable and prosperous future said the company in a statement. As per the deal Abu Dhabi Energy Services will contribute to the rehabilitation of facilities and buildings of First Abu Dhabi Real Estate through solutions aimed at reducing electricity and water consumption and enhancing the sustainability and efficiency of energy resources. The content and objectives of this cooperation are in line with the Abu Dhabi Strategy for Demand Side Management and Energy Efficiency 2030 it added. First Abu Dhabi Real Estate Compa...
Investcorp a leading global alternative investment firm has completed the sale of 10 UK industrial and logistics assets to three different purchasers Kennedy Wilson Realty Income and Investra Capital for a combined total of 108.4 million ( 145 million). The first sale to Kennedy Wilson comprised a portfolio of eight mid-box industrial and logistics warehouses located in the established distribution markets of Doncaster Leeds Bilston Glasgow and Motherwell totalling 588 997 sq ft area. The second sale to Realty Income involved a modern detached industrial unit located in Hull totalling 270 388 sq ft area. The third sale to Investra Capital was for a collection of manufacturing and distribution units located in Tamworth totalling 201 309 sq ft area. Investcorp acquired all ten assets during H2 2017 for a combined price of 69 m...
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Investcorp a leading global alternative investment firm has completed the sale of 10 UK industrial and logistics assets to three different purchasers Kennedy Wilson Realty Income and Investra Capital for a combined total of 108.4 million ( 145 million). The first sale to Kennedy Wilson comprised a portfolio of eight mid-box industrial and logistics warehouses located in the established distribution markets of Doncaster Leeds Bilston Glasgow and Motherwell totalling 588 997 sq ft area. The second sale to Realty Income involved a modern detached industrial unit located in Hull totalling 270 388 sq ft area. The third sale to Investra Capital was for a collection of manufacturing and distribution units located in Tamworth totalling 201 309 sq ft area. Investcorp acquired all ten assets during H2 2017 for a combined price of 69 m...
GFH a leading regional financial group with key interests in asset management and real estate said its European subsidiary Roebuck Asset Management has successfully completed an exit from its Amazon Last Mile Logistics Warehouses Portfolio which covers an area of 140 000 sq m in Spain. Announcing this today (January 29) GFH said the portfolio which was acquired in 2020 comprises three strategically located high-quality assets leased to Amazon Road transport Spain (SLU). The last mile delivery facilities spread across Murcia Alicante and Valladolid form a critical part of Amazon s rapidly expanding Spanish logistics network said the statement for GFH. Online sales accounted for unprecedented levels of total retail sales during the Covid-19 pandemic spiking as high as a third in some European countries during lockdowns. ...
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GFH a leading regional financial group with key interests in asset management and real estate said its European subsidiary Roebuck Asset Management has successfully completed an exit from its Amazon Last Mile Logistics Warehouses Portfolio which covers an area of 140 000 sq m in Spain. Announcing this today (January 29) GFH said the portfolio which was acquired in 2020 comprises three strategically located high-quality assets leased to Amazon Road transport Spain (SLU). The last mile delivery facilities spread across Murcia Alicante and Valladolid form a critical part of Amazon s rapidly expanding Spanish logistics network said the statement for GFH. Online sales accounted for unprecedented levels of total retail sales during the Covid-19 pandemic spiking as high as a third in some European countries during lockdowns. ...
Dubai Land Department (DLD) has signed MoUs with three companies specialised in providing smart and advanced real estate solutions: Bayut DXBinteract.com and Property Finder. These are aimed at providing Dubai s real estate market with the best solutions that rely on data and interactive reports which contributes to enhancing the digital transformation trends witnessed by Dubai s real estate sector as well as supports DLD s vision of positioning Dubai as the world s premier real estate destination and a byword for innovation trust and happiness. Through the MoUs the three companies will provide qualitative private and interactive data on real estate prices by region and according to real estate construction including the regional buying and selling prices and the changing data that takes place in the real estate market during price changes among others depending on the stage it is...
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Dubai Land Department (DLD) has signed MoUs with three companies specialised in providing smart and advanced real estate solutions: Bayut DXBinteract.com and Property Finder. These are aimed at providing Dubai s real estate market with the best solutions that rely on data and interactive reports which contributes to enhancing the digital transformation trends witnessed by Dubai s real estate sector as well as supports DLD s vision of positioning Dubai as the world s premier real estate destination and a byword for innovation trust and happiness. Through the MoUs the three companies will provide qualitative private and interactive data on real estate prices by region and according to real estate construction including the regional buying and selling prices and the changing data that takes place in the real estate market during price changes among others depending on the stage it is...
Investcorp a leading global alternative investment firm headquartered in Bahrain announced that its New York-based real estate team participated in nearly 4 billion in deals last year including both buying and disposition activity. The group acquired over 200 properties in 2021 valued at approximately 2.5 billion and sold approximately 1.5 billion. Investcorp narrowed its strategic focus to residential and industrial property types in 2014 which currently represent approximately 95% of the firm s US real estate portfolio. While the Covid-19 pandemic continued to provide a source of uncertainty in real estate markets it created opportunities in these sectors and helped drive the firm s momentum as a highly active buyer and seller. The key highlights and achievements of Investcorp for 2021 are: ...
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Investcorp a leading global alternative investment firm headquartered in Bahrain announced that its New York-based real estate team participated in nearly 4 billion in deals last year including both buying and disposition activity. The group acquired over 200 properties in 2021 valued at approximately 2.5 billion and sold approximately 1.5 billion. Investcorp narrowed its strategic focus to residential and industrial property types in 2014 which currently represent approximately 95% of the firm s US real estate portfolio. While the Covid-19 pandemic continued to provide a source of uncertainty in real estate markets it created opportunities in these sectors and helped drive the firm s momentum as a highly active buyer and seller. The key highlights and achievements of Investcorp for 2021 are: ...
The real estate price index (RPI) for Saudi Arabia increased by 0.9% in the fourth quarter of 2021 compared to the same quarter of the previous year mainly due to increases in residential land prices reported SPA citing the General Authority for Statistics (GASTAT). The decline in commercial real estate prices by 0.7% and agricultural real estate prices by 0.2% had a dampening effect on the general index it stated. According to GASTAT the residential land prices are the driving factor of the rise in real estate prices in Q4 relative to the previous year. The residential real estate prices increased by 1.7% on an annual basis in the fourth quarter of 2021 affected by the increase in residential land plots prices by 2.0% which contributed to the rise in the general index due to its high importance in the index it stated. The Real Esta...
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The real estate price index (RPI) for Saudi Arabia increased by 0.9% in the fourth quarter of 2021 compared to the same quarter of the previous year mainly due to increases in residential land prices reported SPA citing the General Authority for Statistics (GASTAT). The decline in commercial real estate prices by 0.7% and agricultural real estate prices by 0.2% had a dampening effect on the general index it stated. According to GASTAT the residential land prices are the driving factor of the rise in real estate prices in Q4 relative to the previous year. The residential real estate prices increased by 1.7% on an annual basis in the fourth quarter of 2021 affected by the increase in residential land plots prices by 2.0% which contributed to the rise in the general index due to its high importance in the index it stated. The Real Esta...
Dubai s real estate sector has recorded phenomenal growth 2021 with an impressive boom in rental and sales prices across prominent neighbourhoods according to Bayut & dubizzle s Dubai Property Market Report for 2021. 2021 has proved to be an exceptional year for real estate with their combined inventory increasing by almost 75% and prices reaching unprecedented highs the report said. Bayut & dubizzle s combined data reveals that properties for sale in Dubai s popular areas have recorded price increases of up to 35% in 2021. In the affordable segment the most searched for areas by prospective buyers have been Damac Hills 2 and Jumeirah Village Circle for villas and apartments respectively. High-Net-Worth investors on the other hand have preferred integrated communities like Dubai Marina and Downtown Dubai for apartments and Arabian Ranches and Dubai Hil...
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Dubai s real estate sector has recorded phenomenal growth 2021 with an impressive boom in rental and sales prices across prominent neighbourhoods according to Bayut & dubizzle s Dubai Property Market Report for 2021. 2021 has proved to be an exceptional year for real estate with their combined inventory increasing by almost 75% and prices reaching unprecedented highs the report said. Bayut & dubizzle s combined data reveals that properties for sale in Dubai s popular areas have recorded price increases of up to 35% in 2021. In the affordable segment the most searched for areas by prospective buyers have been Damac Hills 2 and Jumeirah Village Circle for villas and apartments respectively. High-Net-Worth investors on the other hand have preferred integrated communities like Dubai Marina and Downtown Dubai for apartments and Arabian Ranches and Dubai Hil...
Orascom Construction a leading global engineering and construction contractor in the region has announced that it has added 785 million of new awards to its backlog in Q4 2021. This takes its total value of new awards to 3.5 billion in FY 2021 up 22% over the same period last year. Orascom said the projects in the Middle East comprised 55% of new awards during Q4 2021 which included transportation and power projects in Egypt and water projects in Egypt and Tunisia. On its global projects the Egyptian construction group said the US accounted for 45% of its total of new awards during the quarter mainly led by projects in the commercial sector. The estimated consolidated backlog stood at 6.1 billion as of December 31 2021 thus reflecting a slight increase over the record backlog level achieved as of September 30 2021.- TradeAr...
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Orascom Construction a leading global engineering and construction contractor in the region has announced that it has added 785 million of new awards to its backlog in Q4 2021. This takes its total value of new awards to 3.5 billion in FY 2021 up 22% over the same period last year. Orascom said the projects in the Middle East comprised 55% of new awards during Q4 2021 which included transportation and power projects in Egypt and water projects in Egypt and Tunisia. On its global projects the Egyptian construction group said the US accounted for 45% of its total of new awards during the quarter mainly led by projects in the commercial sector. The estimated consolidated backlog stood at 6.1 billion as of December 31 2021 thus reflecting a slight increase over the record backlog level achieved as of September 30 2021.- TradeAr...
The hotel construction activity across the Middle East & Africa witnessed a sharp decline last year with a total of 130 225 rooms being built down 5.5 per cent over 2020 according to December 2021 data from STR. On the MEA scenario the final planning saw a total of 38 765 rooms (-14.3%); while the planning saw 67 142 rooms ( 2.8%). The total under contract rooms hit 236 132 down 4.9% over 2020. The regional activity was mainly led by heavyweights Saudi Arabia (40 269 rooms) and the UAE (31 715) stated the leading provider of premium data for the global hospitality sector. Globally too the hotel construction activity fell with a total of 221 789 rooms being built in 2021 down 7.6 per cent over the previous year. Only the Asia Pacific region witnessed increased hotel construction activity said the STR report. On Europe the report sai...
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The hotel construction activity across the Middle East & Africa witnessed a sharp decline last year with a total of 130 225 rooms being built down 5.5 per cent over 2020 according to December 2021 data from STR. On the MEA scenario the final planning saw a total of 38 765 rooms (-14.3%); while the planning saw 67 142 rooms ( 2.8%). The total under contract rooms hit 236 132 down 4.9% over 2020. The regional activity was mainly led by heavyweights Saudi Arabia (40 269 rooms) and the UAE (31 715) stated the leading provider of premium data for the global hospitality sector. Globally too the hotel construction activity fell with a total of 221 789 rooms being built in 2021 down 7.6 per cent over the previous year. Only the Asia Pacific region witnessed increased hotel construction activity said the STR report. On Europe the report sai...
Saudi developer Knowledge Economic City (KEC) has awarded a contract worth SR49 million ( 13 million) to Mohammed Al-Rashed Trading and Contracting Company (Marco) for the construction of a bus station within its Madinah Gate development. The scope of work includes the development of the bus station along with retail outlets facing the main plaza of the train station and directly linked to the main mall of the Madinah Gate project to serve travellers and visitor of Madinah said KEC in its filing to the Saudi bourse Tadawul. Madinah Gate project consists of three main components in its first phase being built on an area of about 22 000 sq m with a built-up area of 33 000 sq m excluding the car parks and the hotel areas. The first component is the bus station with its retail shops directly connected to the train station while the second and third components are represe...
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Saudi developer Knowledge Economic City (KEC) has awarded a contract worth SR49 million ( 13 million) to Mohammed Al-Rashed Trading and Contracting Company (Marco) for the construction of a bus station within its Madinah Gate development. The scope of work includes the development of the bus station along with retail outlets facing the main plaza of the train station and directly linked to the main mall of the Madinah Gate project to serve travellers and visitor of Madinah said KEC in its filing to the Saudi bourse Tadawul. Madinah Gate project consists of three main components in its first phase being built on an area of about 22 000 sq m with a built-up area of 33 000 sq m excluding the car parks and the hotel areas. The first component is the bus station with its retail shops directly connected to the train station while the second and third components are represe...
Kuwait Financial Centre (Markaz) has been named the Mena Real Estate Asset Manager of the Year for 2021 by Global Investor which recognises outstanding performance in the real estate sector. It also recognises asset management fund administration and wealth management among many others. The coveted honour recognises Markaz s excellence in serving institutions and individuals seeking to unlock the investment potential of real estate asset classes in the region operating at the highest industry standards under the oversight of the Capital Markets Authority (CMA). Markaz brings over 30 years of experience in the real estate sector globally and regionally with 18 years of actively managing real estate assets across the Mena region. Markaz manages real estate assets of c. KD 300 million in Kuwait Saudi Arabia and the UAE real estate through funds and client-tailored portfolios.&n...
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Kuwait Financial Centre (Markaz) has been named the Mena Real Estate Asset Manager of the Year for 2021 by Global Investor which recognises outstanding performance in the real estate sector. It also recognises asset management fund administration and wealth management among many others. The coveted honour recognises Markaz s excellence in serving institutions and individuals seeking to unlock the investment potential of real estate asset classes in the region operating at the highest industry standards under the oversight of the Capital Markets Authority (CMA). Markaz brings over 30 years of experience in the real estate sector globally and regionally with 18 years of actively managing real estate assets across the Mena region. Markaz manages real estate assets of c. KD 300 million in Kuwait Saudi Arabia and the UAE real estate through funds and client-tailored portfolios.&n...
KiCE Construction one of the largest equipment dealers and manufacturers in Saudi Arabia has signed a agreement with Bina Ready Mix Company for supply of two batching plants for a mega project in the kingdom. A leading producer and supplier of ready-mix concrete in Saudi Arabia Bina is working on the Al Narjis Residential Compound project featuring 162 residential units including 31 villas and 131 apartments. The company has a major presence in the Saudi market due to its integrated highly experienced team of administrators and technical competencies who strive to provide the highest quality of services comprehensive products and technical support to a wide range of projects. Sales Director Engineer Hany Mongy said: With the help of our concrete batching plant Bina will not only increase their capacity for their ready mix concrete business but also continue to pr...
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KiCE Construction one of the largest equipment dealers and manufacturers in Saudi Arabia has signed a agreement with Bina Ready Mix Company for supply of two batching plants for a mega project in the kingdom. A leading producer and supplier of ready-mix concrete in Saudi Arabia Bina is working on the Al Narjis Residential Compound project featuring 162 residential units including 31 villas and 131 apartments. The company has a major presence in the Saudi market due to its integrated highly experienced team of administrators and technical competencies who strive to provide the highest quality of services comprehensive products and technical support to a wide range of projects. Sales Director Engineer Hany Mongy said: With the help of our concrete batching plant Bina will not only increase their capacity for their ready mix concrete business but also continue to pr...
Stones a real estate specialist in the UAE said that its total revenue surpassed AED365 million ( 99 million) in 2021 for the first time in five years backed by remarkable property sales transactions. The real estate brokerage which boasts of a sizable international network of clients and property portals leased out more than 100 properties this year enabling it to sustain its position as one of the fastest-rising players in the property industry. The company also recorded its highest sales deals as a result of growing local real estate market fuelled by the influx of Expo 2020 Dubai tourists investors interest and robust infrastructural development projects in the country. Leading up to the launch of Expo 2020 the company s sales transactions were on an upward trajectory. Stones saw 29 transactions with an average of AED160 million in as early as February. This strong performance reflects Stones financial p...
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Stones a real estate specialist in the UAE said that its total revenue surpassed AED365 million ( 99 million) in 2021 for the first time in five years backed by remarkable property sales transactions. The real estate brokerage which boasts of a sizable international network of clients and property portals leased out more than 100 properties this year enabling it to sustain its position as one of the fastest-rising players in the property industry. The company also recorded its highest sales deals as a result of growing local real estate market fuelled by the influx of Expo 2020 Dubai tourists investors interest and robust infrastructural development projects in the country. Leading up to the launch of Expo 2020 the company s sales transactions were on an upward trajectory. Stones saw 29 transactions with an average of AED160 million in as early as February. This strong performance reflects Stones financial p...
Vinci a global player in concessions construction and energy businesses has completed the purchase of the energy business of Spanish civil and construction engineering giant ACS (including the renewables platform) in a deal worth 4.9 billion ( 5.5 billion). Announcing this yesterday (December 31) the French infrastructure giant said it was a major milestone in the group s strategy of creating a global leader in engineering works and services focused on the energy sector and of developing renewable energy concession projects. The final acquisition of ACS energy business comes after the agreement was sealed on April 1 2021. It covers most of the contracting business of the ACS Industrial Services division; 9 greenfield concession projects under development or construction mainly electrical transmission networks in Latin America and the renewable energy project development platform. ...
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Vinci a global player in concessions construction and energy businesses has completed the purchase of the energy business of Spanish civil and construction engineering giant ACS (including the renewables platform) in a deal worth 4.9 billion ( 5.5 billion). Announcing this yesterday (December 31) the French infrastructure giant said it was a major milestone in the group s strategy of creating a global leader in engineering works and services focused on the energy sector and of developing renewable energy concession projects. The final acquisition of ACS energy business comes after the agreement was sealed on April 1 2021. It covers most of the contracting business of the ACS Industrial Services division; 9 greenfield concession projects under development or construction mainly electrical transmission networks in Latin America and the renewable energy project development platform. ...
The GCC construction equipment/machinery rental market which was valued at 3.77 billion in 2020 is poised for solid growth and is expected to reach 5.48 billion by 2026 growing at a CAGR of 6.15% over the next five years said a report by ResearchAndMarkets.com. The Covid-19 pandemic hindered the growth of construction machinery/equipment market across GCC region owing to shut down of manufacturing facilities and halt of investments into infrastructure sector. However post-pandemic as economic activities resumed the market expected to gain momentum during the forecast period it stated. Some of the major driving factors are the construction sector s growth in the region increasing demand for cranes and developing trends toward automation and telematics. According to the report the renting or leasing of construction equipment has...
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The GCC construction equipment/machinery rental market which was valued at 3.77 billion in 2020 is poised for solid growth and is expected to reach 5.48 billion by 2026 growing at a CAGR of 6.15% over the next five years said a report by ResearchAndMarkets.com. The Covid-19 pandemic hindered the growth of construction machinery/equipment market across GCC region owing to shut down of manufacturing facilities and halt of investments into infrastructure sector. However post-pandemic as economic activities resumed the market expected to gain momentum during the forecast period it stated. Some of the major driving factors are the construction sector s growth in the region increasing demand for cranes and developing trends toward automation and telematics. According to the report the renting or leasing of construction equipment has...
Denmark-based AP Moller-Maersk has reached an agreement with Hong Kong-based LF Logistics for about 3 billion the Wall Street Journal reported late on Tuesday citing people familiar with the matter. The announcement for the deal could come as soon as Wednesday assuming the talks don t break down the report added. LF Logistics operates an extensive Pan-Asian network and is the supply chain partner of choice for companies looking to grow in the Asia-Pacific region. A specialist in B2B and B2C distribution solutions within retail wholesale and e-commerce LF logistics is privately owned company by Li & Fung (78.3%) and Temasek Holdings (21.7%). It boasts premium capabilities within omnichannel fulfilment services e-commerce and inland transport in the Asia-Pacific region. According to Mae...
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Denmark-based AP Moller-Maersk has reached an agreement with Hong Kong-based LF Logistics for about 3 billion the Wall Street Journal reported late on Tuesday citing people familiar with the matter. The announcement for the deal could come as soon as Wednesday assuming the talks don t break down the report added. LF Logistics operates an extensive Pan-Asian network and is the supply chain partner of choice for companies looking to grow in the Asia-Pacific region. A specialist in B2B and B2C distribution solutions within retail wholesale and e-commerce LF logistics is privately owned company by Li & Fung (78.3%) and Temasek Holdings (21.7%). It boasts premium capabilities within omnichannel fulfilment services e-commerce and inland transport in the Asia-Pacific region. According to Mae...
Schneider Electric a global leader in energy management and Airlink International a leading freight forwarder logistics and travel provider have jointly transformed the Jebel Ali Logistics Center into one of the most sustainable distribution hubs in the country thanks to a solar rooftop solution that will cover up to 90% of the site s energy needs. The solar plant which is owned by Airlink International UAE and is operated and maintained by Siraj Power will generate 2 088 MWh in the first year thanks to the 2 000 solar panels installed on the site s rooftop and offset nearly 1 500 metric tons of carbon dioxide emissions. The solution includes 16 Schneider Electric solar inverters to convert the variable direct current output of the photovoltaic solar panels into alternating current that can be used by the logistics center s grid said the statement from the company. ...
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Schneider Electric a global leader in energy management and Airlink International a leading freight forwarder logistics and travel provider have jointly transformed the Jebel Ali Logistics Center into one of the most sustainable distribution hubs in the country thanks to a solar rooftop solution that will cover up to 90% of the site s energy needs. The solar plant which is owned by Airlink International UAE and is operated and maintained by Siraj Power will generate 2 088 MWh in the first year thanks to the 2 000 solar panels installed on the site s rooftop and offset nearly 1 500 metric tons of carbon dioxide emissions. The solution includes 16 Schneider Electric solar inverters to convert the variable direct current output of the photovoltaic solar panels into alternating current that can be used by the logistics center s grid said the statement from the company. ...
Dewalt one of Stanley Black & Decker s largest power tool brands and a leader in total jobsite solutions has announced that its Powerstack 20V Max Compact Battery has been awarded a Popular Science 2021 Best of What s New Award. The award recognizes the year s top 100 breakthroughs that are paving the way for a better future. Newest Dewalt breakthrough innovation Dewalt Powerstack 20V Max Compact Battery is the world s first major power tool brand to use pouch cell batteries designed for the construction industry. The award recognizes the year s top 100 breakthroughs that are paving the way for a better future. Dewalt s newest breakthrough technology is a gamechanger for the construction industry and is a direct result of its extraordinary team of innovators that are obsessed with optimizing performance for our customers ...
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Dewalt one of Stanley Black & Decker s largest power tool brands and a leader in total jobsite solutions has announced that its Powerstack 20V Max Compact Battery has been awarded a Popular Science 2021 Best of What s New Award. The award recognizes the year s top 100 breakthroughs that are paving the way for a better future. Newest Dewalt breakthrough innovation Dewalt Powerstack 20V Max Compact Battery is the world s first major power tool brand to use pouch cell batteries designed for the construction industry. The award recognizes the year s top 100 breakthroughs that are paving the way for a better future. Dewalt s newest breakthrough technology is a gamechanger for the construction industry and is a direct result of its extraordinary team of innovators that are obsessed with optimizing performance for our customers ...
Leading names from the construction infrastructure real estate manufacturing and design and engineering consultancies participated in the ninth edition of the Dossier Construction Awards and Summit 2021. The awards included Business Icon of the Year - Sheikh Qais Salim Al Khalili Chairman & Group Managing Director Al Khalili Group; Business Leader of the Year - Damodar R. Katti Design Group Engineering Consultants; CEO of the Year - Joey Ghose Raysut Cement Company; CEO of the Year Contracting - Angshuman Chakraborty - Best Infrastructure Developers; Global Omani Company of the Year - Raysut Cement Company; Best Sustainable Project - Ras Al Hamra Development Project; Best Renewable Energy Project - Amin Solar PV Project Petroleum Development Oman (PDO); Best Oil & Gas Project - Yibal Khuff Project Petroleum Development Oman (PDO); Claims Management Consultant of the Year - Masin Projects Real Estate Services Compan...
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Leading names from the construction infrastructure real estate manufacturing and design and engineering consultancies participated in the ninth edition of the Dossier Construction Awards and Summit 2021. The awards included Business Icon of the Year - Sheikh Qais Salim Al Khalili Chairman & Group Managing Director Al Khalili Group; Business Leader of the Year - Damodar R. Katti Design Group Engineering Consultants; CEO of the Year - Joey Ghose Raysut Cement Company; CEO of the Year Contracting - Angshuman Chakraborty - Best Infrastructure Developers; Global Omani Company of the Year - Raysut Cement Company; Best Sustainable Project - Ras Al Hamra Development Project; Best Renewable Energy Project - Amin Solar PV Project Petroleum Development Oman (PDO); Best Oil & Gas Project - Yibal Khuff Project Petroleum Development Oman (PDO); Claims Management Consultant of the Year - Masin Projects Real Estate Services Compan...
Saudi developer Dar Al Arkan said it has partnered with Compass Project Consulting to set up an integrated real estate development consultancy in the region. A key Saudi group Compass offers clients fully tailored project development solutions that can take an initial concept all the way through to construction completion and handover with continued support. With this move a leading Saudi developer will be for the first time bolstering a regional project management consultancy enhancing property acquisition development and supervision offerings. Ziad El Chaar Vice Chairman of Dar Al Arkan Properties said: We are extremely proud of this progressive partnership which brings together two industry leaders who are best in their field. This will allow for Dar Al Arkan to power Compass with expert development insight and the opportunity to reach new heights. ...
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Saudi developer Dar Al Arkan said it has partnered with Compass Project Consulting to set up an integrated real estate development consultancy in the region. A key Saudi group Compass offers clients fully tailored project development solutions that can take an initial concept all the way through to construction completion and handover with continued support. With this move a leading Saudi developer will be for the first time bolstering a regional project management consultancy enhancing property acquisition development and supervision offerings. Ziad El Chaar Vice Chairman of Dar Al Arkan Properties said: We are extremely proud of this progressive partnership which brings together two industry leaders who are best in their field. This will allow for Dar Al Arkan to power Compass with expert development insight and the opportunity to reach new heights. ...
Invest in Dubai Real Estate a major initiative of the Dubai Land Department in partnership with the International Property Show launched two new offices in the US. The offices located in Orlando (Florida) and New Jersey (New York) will cater to North and South American clients facilitating investments towards real estate in Dubai. It will help American investors clients and audiences to collaborate and learn new investment trends as well as learn more about investing in Dubai real estate. The new offices will also play a significant role to better inform investors and clients about Dubai s investment climate as well as how to make wise investment decisions in order to make the most out of their investments. Through this initiative DLD said it aims to bring in real estate investments to Dubai once again creating bigger opportu...
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Invest in Dubai Real Estate a major initiative of the Dubai Land Department in partnership with the International Property Show launched two new offices in the US. The offices located in Orlando (Florida) and New Jersey (New York) will cater to North and South American clients facilitating investments towards real estate in Dubai. It will help American investors clients and audiences to collaborate and learn new investment trends as well as learn more about investing in Dubai real estate. The new offices will also play a significant role to better inform investors and clients about Dubai s investment climate as well as how to make wise investment decisions in order to make the most out of their investments. Through this initiative DLD said it aims to bring in real estate investments to Dubai once again creating bigger opportu...
DP World a global logistics company and one of the world s largest marine terminal operators and Emergent Cold Latin America (Emergent LatAm) Latin America s newest temperature-controlled warehousing and logistics provider have joined hands for the development of two temperature-controlled logistics facilities within DP World Logistics Parks in Latin America. These developments will provide Emergent Cold LatAm and DP World customers with a fully integrated supply chain solution. It will be focused on two locations DP World Caucedo (Dominican Republic) and Duran Logistics Centre (Ecuador). DP World Caucedo is a world-class Logistics Hub and free trade zone located in Punta Caucedo near the city of Santo Domingo. Caucedo is the newest and most modern port on the island and a gateway for the Caribbean food trade. Duran Logistics Centr...
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DP World a global logistics company and one of the world s largest marine terminal operators and Emergent Cold Latin America (Emergent LatAm) Latin America s newest temperature-controlled warehousing and logistics provider have joined hands for the development of two temperature-controlled logistics facilities within DP World Logistics Parks in Latin America. These developments will provide Emergent Cold LatAm and DP World customers with a fully integrated supply chain solution. It will be focused on two locations DP World Caucedo (Dominican Republic) and Duran Logistics Centre (Ecuador). DP World Caucedo is a world-class Logistics Hub and free trade zone located in Punta Caucedo near the city of Santo Domingo. Caucedo is the newest and most modern port on the island and a gateway for the Caribbean food trade. Duran Logistics Centr...
Following the issuance of UAE federal decree on electronic transactions and trust services (E-Law) Majid Al Futtaim Communities a part of Majid Al Futtaim Properties and Aldar Properties are working together to create and implement digital real estate sales platforms for their businesses. Allowing for convenient digital real estate sale transactions the developers are aiming to be the first to implement such online sales systems in the UAE with the platforms set to be launched when the E-Law comes into effect in Q1 2022. The new E-Law allows for real estate transactions to be included within its scope of application. The digitalisation of the real estate transactions will make property purchases sales and management a simple quick and convenient process for both UAE and overseas customers. The E-Law regulates and allows electronic transactions to be c...
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Following the issuance of UAE federal decree on electronic transactions and trust services (E-Law) Majid Al Futtaim Communities a part of Majid Al Futtaim Properties and Aldar Properties are working together to create and implement digital real estate sales platforms for their businesses. Allowing for convenient digital real estate sale transactions the developers are aiming to be the first to implement such online sales systems in the UAE with the platforms set to be launched when the E-Law comes into effect in Q1 2022. The new E-Law allows for real estate transactions to be included within its scope of application. The digitalisation of the real estate transactions will make property purchases sales and management a simple quick and convenient process for both UAE and overseas customers. The E-Law regulates and allows electronic transactions to be c...
Project Management Institute (PMI) one of the world s leading associations for project professionals has launched Construction Professional in Built Environment Projects (CPBEP) its first industry-specific solution tailored for construction professionals to address the key industry challenges and rapid industrialisation efforts. As urban population centres swell climate change intensifies and emerging economies mature the demand for major infrastructure projects and the individuals who manage them is rapidly increasing. In fact McKinsey found that 3.5 trillion in yearly global economic infrastructure investment will be needed through 2035. PMI said it had worked with leading construction organisations and subject matter experts to identify common issues in the industry in order to create learning solutions that help construction professionals evolve their project management skills and ...
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Project Management Institute (PMI) one of the world s leading associations for project professionals has launched Construction Professional in Built Environment Projects (CPBEP) its first industry-specific solution tailored for construction professionals to address the key industry challenges and rapid industrialisation efforts. As urban population centres swell climate change intensifies and emerging economies mature the demand for major infrastructure projects and the individuals who manage them is rapidly increasing. In fact McKinsey found that 3.5 trillion in yearly global economic infrastructure investment will be needed through 2035. PMI said it had worked with leading construction organisations and subject matter experts to identify common issues in the industry in order to create learning solutions that help construction professionals evolve their project management skills and ...
Residential and commercial spaces in the UAE are poised for a 7-9% increase in rent while luxury properties will see a 9-14% increase in price in the first quarter of 2022 forecasts Stones a leading independent real estate consultancy. Price and rent for properties are expected to increase by 10-15% by the end of 2022 Stones predicts. The real estate consultancy predicts that the opportunities generated due to Expo 2020 will transform the UAE s real estate landscape. As Expo 2020 Dubai enables the country to demonstrate its business potential apart from its capacity to host a world class event the UAE s real estate market is expected to flourish even more in the future. The global platform has attracted a continuous stream of investors brokers and homebuyers seeking to expand their business in the region resulting in a gra...
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Residential and commercial spaces in the UAE are poised for a 7-9% increase in rent while luxury properties will see a 9-14% increase in price in the first quarter of 2022 forecasts Stones a leading independent real estate consultancy. Price and rent for properties are expected to increase by 10-15% by the end of 2022 Stones predicts. The real estate consultancy predicts that the opportunities generated due to Expo 2020 will transform the UAE s real estate landscape. As Expo 2020 Dubai enables the country to demonstrate its business potential apart from its capacity to host a world class event the UAE s real estate market is expected to flourish even more in the future. The global platform has attracted a continuous stream of investors brokers and homebuyers seeking to expand their business in the region resulting in a gra...
Dubai-based Samana Developers has announced its foray into Pakistan s real estate market with the launch of a new company Emirates Developers set up in partnership with H&S Real Estate a Dubai brokerage agency. The new firm Emirates Developers will build mixed-used resort-themed communities in the tourist hotspots of Pakistan. The agreement was signing in the presence of Hassan Afzal Khan Consul-General of Pakistan to Dubai along with officials of the Consulate General of Pakistan Samana Developers and H&S Real Estate. Lauding the new entity Khan said: It is a proud moment for all of us and for the Pakistani community in Dubai that we are witnessing a double success story of Samana Developers and H&S Real Estate going to be replicated in Pakistan. I believe the two well reputed real estate companies ...
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Dubai-based Samana Developers has announced its foray into Pakistan s real estate market with the launch of a new company Emirates Developers set up in partnership with H&S Real Estate a Dubai brokerage agency. The new firm Emirates Developers will build mixed-used resort-themed communities in the tourist hotspots of Pakistan. The agreement was signing in the presence of Hassan Afzal Khan Consul-General of Pakistan to Dubai along with officials of the Consulate General of Pakistan Samana Developers and H&S Real Estate. Lauding the new entity Khan said: It is a proud moment for all of us and for the Pakistani community in Dubai that we are witnessing a double success story of Samana Developers and H&S Real Estate going to be replicated in Pakistan. I believe the two well reputed real estate companies ...
The World Logistics Passport (WLP) has signed a MoU with the Bahraini Ministry of Transportation and Telecommunications bringing another GCC member state into the Dubai-administered global freight loyalty programme as a Gateway participant thereby enhancing the Kingdom of Bahrain s access to global markets and offering businesses direct benefits. With Bahrain s exports to the UAE s increasing by almost a three-fold between 2016 and 2019 and 30% of the country s total exports landing on Emirati shores in 2019 the new agreement ensures that Bahraini traders and businesses are well placed to maximise the benefits associated being a WLP Gateway. Direct benefits of the deal include fast-tracking of cargo movement reducing administrative costs advancing cargo information and facilitating trade across borders. The Bahraini Ministry of Transportation and Tele...
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The World Logistics Passport (WLP) has signed a MoU with the Bahraini Ministry of Transportation and Telecommunications bringing another GCC member state into the Dubai-administered global freight loyalty programme as a Gateway participant thereby enhancing the Kingdom of Bahrain s access to global markets and offering businesses direct benefits. With Bahrain s exports to the UAE s increasing by almost a three-fold between 2016 and 2019 and 30% of the country s total exports landing on Emirati shores in 2019 the new agreement ensures that Bahraini traders and businesses are well placed to maximise the benefits associated being a WLP Gateway. Direct benefits of the deal include fast-tracking of cargo movement reducing administrative costs advancing cargo information and facilitating trade across borders. The Bahraini Ministry of Transportation and Tele...
Engie Solutions an international leader in sustainable energy solutions has achieved an outstanding 20 million person-hours without a lost time incident (LTI) over a period of 900 days across its GCC operations. A lost time incident refers to an incident that results in an injury that causes an employee to miss work. This accomplishment is a valuable testament to the company s values and positions Engie Solutions as an industry trailblazer in employee health safety and wellbeing said a statement from Engie Solutions. The 20 million person-hours without a LTI marks a new milestone by Engie Solutions surpassing the previous mark of 10 million lost time incident-free work hours achieved last year. Safety of our employees is always a top priority for Engie Solutions said Miles Webb the Chief Operations Officer ...
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Engie Solutions an international leader in sustainable energy solutions has achieved an outstanding 20 million person-hours without a lost time incident (LTI) over a period of 900 days across its GCC operations. A lost time incident refers to an incident that results in an injury that causes an employee to miss work. This accomplishment is a valuable testament to the company s values and positions Engie Solutions as an industry trailblazer in employee health safety and wellbeing said a statement from Engie Solutions. The 20 million person-hours without a LTI marks a new milestone by Engie Solutions surpassing the previous mark of 10 million lost time incident-free work hours achieved last year. Safety of our employees is always a top priority for Engie Solutions said Miles Webb the Chief Operations Officer ...
The Mohammed Bin Rashid Space Centre (MBRSC) has signed a MoU with Volga-Dnepr Group a Russian airline holding company to provide logistics services and air cargo solutions for the UAE satellite programme. Headquartered in Moscow Volga-Dnepr is a world leader in the global market for the movement of oversize unique and heavy air cargo. Its core business activities are charter cargo operations using Antonov An-124 and IL-76TD-90VD heavy transporters and scheduled cargo operations using Boeing 747 and Boeing 737 freighters. The deal was signed by Salem AlMarri Deputy Director General MBRSC and Artemiy Ivanovskiy General Manager Volga-Dnepr Group Dubai Office in the presence of Yousuf Hamad AlShaibani Director General MBRSC at the Dubai Airshow 2021. Founded in 2006 MBRSC is home to the UAE National Space Programme. The Centre builds and operates earth observation satellit...
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The Mohammed Bin Rashid Space Centre (MBRSC) has signed a MoU with Volga-Dnepr Group a Russian airline holding company to provide logistics services and air cargo solutions for the UAE satellite programme. Headquartered in Moscow Volga-Dnepr is a world leader in the global market for the movement of oversize unique and heavy air cargo. Its core business activities are charter cargo operations using Antonov An-124 and IL-76TD-90VD heavy transporters and scheduled cargo operations using Boeing 747 and Boeing 737 freighters. The deal was signed by Salem AlMarri Deputy Director General MBRSC and Artemiy Ivanovskiy General Manager Volga-Dnepr Group Dubai Office in the presence of Yousuf Hamad AlShaibani Director General MBRSC at the Dubai Airshow 2021. Founded in 2006 MBRSC is home to the UAE National Space Programme. The Centre builds and operates earth observation satellit...
Edge Group entity GAL a leading regional provider of integrated aircraft sustainment solutions has opened the first regional distribution hub for aircraft logistics in Abu Dhabi. This is in partnership with Chinese state-backed defence contractor China National Aero-Technology Import & Export Corporation (Catic). The new Middle East & Africa Distribution Centre (MEADC) will significantly improve the availability of aircraft spare parts in the UAE and the wider Mena region. Khalid Al Breiki President of Mission Support at Edge and Managing Director of GAL and Li Pei Vice President of Catic made the announcement together at the Dubai Airshow 2021 which is underway until November 18 at Dubai World Central (DWC). Accompanying the announcement the two organisations performed a signing ceremony to mark the occasion. The...
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Edge Group entity GAL a leading regional provider of integrated aircraft sustainment solutions has opened the first regional distribution hub for aircraft logistics in Abu Dhabi. This is in partnership with Chinese state-backed defence contractor China National Aero-Technology Import & Export Corporation (Catic). The new Middle East & Africa Distribution Centre (MEADC) will significantly improve the availability of aircraft spare parts in the UAE and the wider Mena region. Khalid Al Breiki President of Mission Support at Edge and Managing Director of GAL and Li Pei Vice President of Catic made the announcement together at the Dubai Airshow 2021 which is underway until November 18 at Dubai World Central (DWC). Accompanying the announcement the two organisations performed a signing ceremony to mark the occasion. The...
There has been a significant rebound in real estate transactions in the UAE during the first half of the year mainly buoyed by confluence of factors according to Kuwait Financial Centre (Markaz). Bright macroeconomic prospects underpinned by rising oil prices a higher vaccination rate among its population and global events like Expo 2020 Dubai are expected to stimulate the rebound of the UAE s real estate sector for the coming years stated Markaz in its UAE Real Estate Outlook H1 2021 report that features indicators signifying positive signs of sustained recovery for the country s real estate sector. The country s economic recovery from the repercussions of the Covid-19 pandemic has been on an upward trajectory since the third quarter of 2020. Diminishing government deficit along with an increase in expenditure growth and improving employment rate further demonstrate the econ...
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There has been a significant rebound in real estate transactions in the UAE during the first half of the year mainly buoyed by confluence of factors according to Kuwait Financial Centre (Markaz). Bright macroeconomic prospects underpinned by rising oil prices a higher vaccination rate among its population and global events like Expo 2020 Dubai are expected to stimulate the rebound of the UAE s real estate sector for the coming years stated Markaz in its UAE Real Estate Outlook H1 2021 report that features indicators signifying positive signs of sustained recovery for the country s real estate sector. The country s economic recovery from the repercussions of the Covid-19 pandemic has been on an upward trajectory since the third quarter of 2020. Diminishing government deficit along with an increase in expenditure growth and improving employment rate further demonstrate the econ...
Saudi Arabia will be organising the Real Estate Future Forum in capital Riyadh next year in collaboration with a number of local and international organisations and authorities from the real estate housing and smart cities sectors. The event to be held from February 22 to 24 at the Ritz-Carlton Hotel Riyadh will be featuring a host of local and international speakers. It will discuss several strategic areas related to the real estate sector in the kingdom which will include: regulations legislation future cities urban development smart cities sustainability and investments. The forum seeks to serve as a global platform for the scientific and intellectual community to discuss the present and future of the real estate sector. It will contribute to strengthening the local and international property sectors under one platform. The mega e...
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Saudi Arabia will be organising the Real Estate Future Forum in capital Riyadh next year in collaboration with a number of local and international organisations and authorities from the real estate housing and smart cities sectors. The event to be held from February 22 to 24 at the Ritz-Carlton Hotel Riyadh will be featuring a host of local and international speakers. It will discuss several strategic areas related to the real estate sector in the kingdom which will include: regulations legislation future cities urban development smart cities sustainability and investments. The forum seeks to serve as a global platform for the scientific and intellectual community to discuss the present and future of the real estate sector. It will contribute to strengthening the local and international property sectors under one platform. The mega e...
Dubai-based NIA Limited has announced the UAE launch of the world s first AC Safety Helmet for the outdoor workforce and field executives. The Jarsh-NIA AC Helmet which has been manufactured by Indian tech and safety start-up Jarsh Safety works on patented solid-state cooling technology that provides cooling up to 24ºC. Twenty-somethings - Kausthub Kaundinya Sreekanth Kommula and Anand Kumar - made a prototype of the Jarsh AC Helmet in 2016 after experiencing discomfort while using safety helmets. Realising its potential in bettering the lives of those at the bottom of the workforce pyramid they formed a manufacturing start-up and quickly scaled up the helmet s production. We started our journey from a garage office and over the years brought smiles to thousands of workers across India. Jarsh Safety is now go...
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Dubai-based NIA Limited has announced the UAE launch of the world s first AC Safety Helmet for the outdoor workforce and field executives. The Jarsh-NIA AC Helmet which has been manufactured by Indian tech and safety start-up Jarsh Safety works on patented solid-state cooling technology that provides cooling up to 24ºC. Twenty-somethings - Kausthub Kaundinya Sreekanth Kommula and Anand Kumar - made a prototype of the Jarsh AC Helmet in 2016 after experiencing discomfort while using safety helmets. Realising its potential in bettering the lives of those at the bottom of the workforce pyramid they formed a manufacturing start-up and quickly scaled up the helmet s production. We started our journey from a garage office and over the years brought smiles to thousands of workers across India. Jarsh Safety is now go...
Saudi Arabia s Capital Market Authority (CMA) has allowed the capital market institutions to accept subscriptions of non-Saudis in the real estate funds that invest in assets within Makkah and Madinah according to a released statement by the CMA. The CMA stressed that the capital market institutions must ensure compliance with the Law of Real Estate Ownership and Investment by non-Saudis when managing the investments of investment funds in real estate located within the boundaries of the cities of Makkah and Madinah and upon liquidation of those funds said a Saudi Press Agency report. The authority indicated that the decision will contribute to enhancing the role of the capital market as a diversified financing channel as well as strengthening the pillars of the Kingdom s Vision 2030 which aims to make the Saudi capital market attractive to local and foreign investment and be able to play a pivotal rol...
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Saudi Arabia s Capital Market Authority (CMA) has allowed the capital market institutions to accept subscriptions of non-Saudis in the real estate funds that invest in assets within Makkah and Madinah according to a released statement by the CMA. The CMA stressed that the capital market institutions must ensure compliance with the Law of Real Estate Ownership and Investment by non-Saudis when managing the investments of investment funds in real estate located within the boundaries of the cities of Makkah and Madinah and upon liquidation of those funds said a Saudi Press Agency report. The authority indicated that the decision will contribute to enhancing the role of the capital market as a diversified financing channel as well as strengthening the pillars of the Kingdom s Vision 2030 which aims to make the Saudi capital market attractive to local and foreign investment and be able to play a pivotal rol...
Saudi Arabia s Capital Market Authority (CMA) has called upon capital market institutions to accept the subscriptions of non-Saudis in the real estate funds that invest in assets within the boundaries of Makkah and Madinah. These capital market institutions must ensure compliance with the Law of Real Estate Ownership and Investment by Non-Saudis when managing the investments of these funds in real estate located within the two cities and upon liquidation of those funds according to a statement from CMA. The authority indicated that the decision will contribute to relying on the capital market as a diversified financing channel it stated. This comes following approval from Saudi Arabia s Council of Ministers for companies listed on the Saudi Stock Exchange (Tadawul) to buy real estate in Makkah and Madinah. The council had early...
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Saudi Arabia s Capital Market Authority (CMA) has called upon capital market institutions to accept the subscriptions of non-Saudis in the real estate funds that invest in assets within the boundaries of Makkah and Madinah. These capital market institutions must ensure compliance with the Law of Real Estate Ownership and Investment by Non-Saudis when managing the investments of these funds in real estate located within the two cities and upon liquidation of those funds according to a statement from CMA. The authority indicated that the decision will contribute to relying on the capital market as a diversified financing channel it stated. This comes following approval from Saudi Arabia s Council of Ministers for companies listed on the Saudi Stock Exchange (Tadawul) to buy real estate in Makkah and Madinah. The council had early...
Micco Logistics a subsidiary of AD Ports Group has acquired 31 tipper trucks as part of its effort to offer broader integrated logistics support to the UAE s construction and metals manufacturing sectors. The trucks will join Micco s existing ground fleet of 400 plus vehicles that currently service a number of different industry sectors including the Pharmaceutical Healthcare Fresh and General Cargo. The new tipper fleet has a combined transport capacity of over 2 300 metric tonnes and is capable of moving material and supplies between ports factories and different development sites across Abu Dhabi and the rest of the UAE. The latest acquisition aims to further diversify the range of services offered by AD Ports Group and enables Micco to support increased customer demand. The fleet will be fully equipped with pre-installed Fleet Management Systems (FMSi) ...
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Micco Logistics a subsidiary of AD Ports Group has acquired 31 tipper trucks as part of its effort to offer broader integrated logistics support to the UAE s construction and metals manufacturing sectors. The trucks will join Micco s existing ground fleet of 400 plus vehicles that currently service a number of different industry sectors including the Pharmaceutical Healthcare Fresh and General Cargo. The new tipper fleet has a combined transport capacity of over 2 300 metric tonnes and is capable of moving material and supplies between ports factories and different development sites across Abu Dhabi and the rest of the UAE. The latest acquisition aims to further diversify the range of services offered by AD Ports Group and enables Micco to support increased customer demand. The fleet will be fully equipped with pre-installed Fleet Management Systems (FMSi) ...
Arada the UAE s fastest-growing developer will be showcasing Sharjah s key real estate offerings at the upcoming Cityscape Global expo. Arada s stand will exhibit the extensive range of properties in its two mega developments Masaar and Aljada. Featuring several exciting new communities within Aljada the AED24 billion mixed-use community in New Sharjah the stand will also showcase the recently launched Kaya the second residential phase of Arada s forested lifestyle mega community Masaar. Spread over a 24 million square foot area Aljada is Sharjah s largest ever project and a transformational destination for the Emirate. Aljada contains numerous residential districts as well as extensive retail hospitality entertainment sporting educational healthcare components and a business park all set within a green urban master plan...
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Arada the UAE s fastest-growing developer will be showcasing Sharjah s key real estate offerings at the upcoming Cityscape Global expo. Arada s stand will exhibit the extensive range of properties in its two mega developments Masaar and Aljada. Featuring several exciting new communities within Aljada the AED24 billion mixed-use community in New Sharjah the stand will also showcase the recently launched Kaya the second residential phase of Arada s forested lifestyle mega community Masaar. Spread over a 24 million square foot area Aljada is Sharjah s largest ever project and a transformational destination for the Emirate. Aljada contains numerous residential districts as well as extensive retail hospitality entertainment sporting educational healthcare components and a business park all set within a green urban master plan...
Leading architectural firms in the real estate industry believe architectural adaptations will be revolutionis the real estate sector as the future design of residential projects gets radically different with the boundary between home office and leisure becoming increasingly blurred. The expert view comes the ahead of live Cityscape Global Summit and Exhibition taking place from November 9 to 11 at the Dubai Exhibition Centre (DEC) on the Expo 2020 grounds featuring some of the leading architects and designers from across the globe. A two-day summit to be held from November 7 to 8 ahead of the expo will bring together prominent architects from Godwin Austen Johnson (GAJ) LWK Partners and more to discuss trending industry topics such as proptech future design trends and smart cities. This year s Cityscape will see the launch of the debut edition of dq (design quarte...
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Leading architectural firms in the real estate industry believe architectural adaptations will be revolutionis the real estate sector as the future design of residential projects gets radically different with the boundary between home office and leisure becoming increasingly blurred. The expert view comes the ahead of live Cityscape Global Summit and Exhibition taking place from November 9 to 11 at the Dubai Exhibition Centre (DEC) on the Expo 2020 grounds featuring some of the leading architects and designers from across the globe. A two-day summit to be held from November 7 to 8 ahead of the expo will bring together prominent architects from Godwin Austen Johnson (GAJ) LWK Partners and more to discuss trending industry topics such as proptech future design trends and smart cities. This year s Cityscape will see the launch of the debut edition of dq (design quarte...
SA TALKE a specialist logistics solutions provider for the chemical and petrochemical industry is currently carrying out 19 projects in the Kingdom of Saudi Arabia including three recent projects won in 2021. Its latest contract is for liquid product transportation in the western region of the Kingdom for Farabi Petrochemicals Company. This is unique projects helps SA TALKE to increase its presence in the western region and further diversify its services to cater for the special requirements of its clients. SA TALKE s history with Farabi Petrochemicals Company began on September 2020 providing to provide on-site logistics services to FARABI including ISO tank handling bulk tanker loading and unloading drumming and additive handling inventory control maintenance of machinery and equipment warehouse and dispatch coordination and administration. With the l...
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SA TALKE a specialist logistics solutions provider for the chemical and petrochemical industry is currently carrying out 19 projects in the Kingdom of Saudi Arabia including three recent projects won in 2021. Its latest contract is for liquid product transportation in the western region of the Kingdom for Farabi Petrochemicals Company. This is unique projects helps SA TALKE to increase its presence in the western region and further diversify its services to cater for the special requirements of its clients. SA TALKE s history with Farabi Petrochemicals Company began on September 2020 providing to provide on-site logistics services to FARABI including ISO tank handling bulk tanker loading and unloading drumming and additive handling inventory control maintenance of machinery and equipment warehouse and dispatch coordination and administration. With the l...
The Real Estate Development Fund has announced the signing of a funding partnership agreement a first of its kind with the Saudi Real Estate Refinance Company (SRC) to refinance a real estate portfolio owned by the fund with a total value of SR10 billion ( 2.28 billion). The agreement aims at enhancing the financial sustainability of the fund increasing the liquidity of the housing real estate financing market in the kingdom reducing financing costs for Saudi households and increasing the percentage of housing ownership among Saudi families to 70% by 2030 in a bid to realize the targets of the Saudi Vision 2030 programme. The agreement was signed by REDF CEO Mansour bin Madi and SRC CEO Fabrice Susini in the presence of Minister of Municipal and Rural Affairs and Housing and Chairman of the Board of Directors of REDF Majid bin Abdullah Al Hogail. REDF offers loans with subsid...
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The Real Estate Development Fund has announced the signing of a funding partnership agreement a first of its kind with the Saudi Real Estate Refinance Company (SRC) to refinance a real estate portfolio owned by the fund with a total value of SR10 billion ( 2.28 billion). The agreement aims at enhancing the financial sustainability of the fund increasing the liquidity of the housing real estate financing market in the kingdom reducing financing costs for Saudi households and increasing the percentage of housing ownership among Saudi families to 70% by 2030 in a bid to realize the targets of the Saudi Vision 2030 programme. The agreement was signed by REDF CEO Mansour bin Madi and SRC CEO Fabrice Susini in the presence of Minister of Municipal and Rural Affairs and Housing and Chairman of the Board of Directors of REDF Majid bin Abdullah Al Hogail. REDF offers loans with subsid...
Behind-the-scenes activities that make enormous and exceptional mega-events a success with legacies that echo across the globe will be showcased at a forum in Qatar. GWC is hosting a first industry hybrid event Getting you in the Game to launch the discussion on mega-events logistics on November 16 2021. Industry experts will examine trends and transformation in logistics through a keynote speech two panels and two workshop sessions. The first panel will discuss and explore the logistics behind mega sporting events with speakers from industries ranging from sports and events logistics aviation and beyond. The second panel will focus on the region s transformation into a world-class events hub how it continues to grow and the role of logistics providers as it accelerates; speakers in this panel will repr...
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Behind-the-scenes activities that make enormous and exceptional mega-events a success with legacies that echo across the globe will be showcased at a forum in Qatar. GWC is hosting a first industry hybrid event Getting you in the Game to launch the discussion on mega-events logistics on November 16 2021. Industry experts will examine trends and transformation in logistics through a keynote speech two panels and two workshop sessions. The first panel will discuss and explore the logistics behind mega sporting events with speakers from industries ranging from sports and events logistics aviation and beyond. The second panel will focus on the region s transformation into a world-class events hub how it continues to grow and the role of logistics providers as it accelerates; speakers in this panel will repr...
Qatar s Supreme Committee for Delivery & Legacy (SC) the organisation responsible for delivering the infrastructure host country planning and operations and legacy projects for the FIFA World Cup Qatar 2022 has signed an agreement with Accor a leading hospitality group to manage operations and deliver services to the host country s real estate portfolio through the end of 2022. The agreement was signed in Doha by Yasir Al Jamal Chairman of the SC s Operations Office and Vice Chairman Technical Delivery Office alongside Sebastien Bazin Chairman and CEO of Accor and Katara Hospitality s acting CEO Andrew Humphries in the presence of Qatar s Prime Minister and Minister of Interior Sheikh Khalid bin Khalifa bin Abdulaziz Al Thani Ali Al Kuwari Minister of Finance and Chairman Katara Hospitality and Hassan Al Thawadi SC Secretary General. The agreement...
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Qatar s Supreme Committee for Delivery & Legacy (SC) the organisation responsible for delivering the infrastructure host country planning and operations and legacy projects for the FIFA World Cup Qatar 2022 has signed an agreement with Accor a leading hospitality group to manage operations and deliver services to the host country s real estate portfolio through the end of 2022. The agreement was signed in Doha by Yasir Al Jamal Chairman of the SC s Operations Office and Vice Chairman Technical Delivery Office alongside Sebastien Bazin Chairman and CEO of Accor and Katara Hospitality s acting CEO Andrew Humphries in the presence of Qatar s Prime Minister and Minister of Interior Sheikh Khalid bin Khalifa bin Abdulaziz Al Thani Ali Al Kuwari Minister of Finance and Chairman Katara Hospitality and Hassan Al Thawadi SC Secretary General. The agreement...
The wide-scale disruption decarbonisation and digital transformation impacting four of the Middle East s crucial economic sectors will be laid bare at Expo 2020 tomorrow (November 2) when the curtain rises on the inaugural three-day Hypermotion Dubai exhibition and conference series. An essential gathering for all in the region s transport logistics mobility and materials handling industries Hypermotion Dubai and its co-located Materials Handling Middle East 2021 trade show will reveal the biggest transformation in the sectors histories with advanced technology driving automation and sustainability to evolve the way people travel transport and deliver goods. This is a magnifying glass view of the here and now and very near future of industries that will be forever changed and will permanently impact global lifestyles explained Simon Mellor CEO of Messe Frankfurt Mi...
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The wide-scale disruption decarbonisation and digital transformation impacting four of the Middle East s crucial economic sectors will be laid bare at Expo 2020 tomorrow (November 2) when the curtain rises on the inaugural three-day Hypermotion Dubai exhibition and conference series. An essential gathering for all in the region s transport logistics mobility and materials handling industries Hypermotion Dubai and its co-located Materials Handling Middle East 2021 trade show will reveal the biggest transformation in the sectors histories with advanced technology driving automation and sustainability to evolve the way people travel transport and deliver goods. This is a magnifying glass view of the here and now and very near future of industries that will be forever changed and will permanently impact global lifestyles explained Simon Mellor CEO of Messe Frankfurt Mi...
Spanish infrastructure major Acciona said it has achieved a key milestone in the construction of the Shuqaiq 3 desalination plant ramping up production during final testing to full capacity of 450 million liters of potable water per day enough to meet the needs of two million people. The new desalination plant by the Red Sea is one of the largest to be built in Saudi Arabia and is already supplying the water network of Abha and Jizan in the southwest of the country an extremely dry region. The plant is equipped with energy-efficient Sea Water Reverse Osmosis (SWRO) technology and is a key project in the modernization of Saudi Arabia s water sector. Acciona is the engineering procurement and construction (EPC) contractor for the Shuqaiq Three Company for Water (S3CW) owner of the Independent Water Project (IWP). T...
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Spanish infrastructure major Acciona said it has achieved a key milestone in the construction of the Shuqaiq 3 desalination plant ramping up production during final testing to full capacity of 450 million liters of potable water per day enough to meet the needs of two million people. The new desalination plant by the Red Sea is one of the largest to be built in Saudi Arabia and is already supplying the water network of Abha and Jizan in the southwest of the country an extremely dry region. The plant is equipped with energy-efficient Sea Water Reverse Osmosis (SWRO) technology and is a key project in the modernization of Saudi Arabia s water sector. Acciona is the engineering procurement and construction (EPC) contractor for the Shuqaiq Three Company for Water (S3CW) owner of the Independent Water Project (IWP). T...
Oman s global integrated logistics solutions provider Asyad Group in partnership with Hypermotion Dubai exhibition is giving innovation-driven entrepreneurs a platform to shine and compete for a life-changing prize of 50 000. To help foster sector growth Asyad Group along with its official technology partner Omantel and Hypermotion Dubai have created the Logistics Startup Challenge to be held in a special zone designed to harness the potential of burgeoning new companies entrepreneurs and ideas at Dubai Exhibition Centre (DEC) from November 2 to 4. The Logistics Startup Challenge will seek entrants across six key growth pillars for mobility and transport logistics namely artificial intelligence cyber security robotics logistics smart mobility and drones and will include a pitch contest where entrepreneurs will present their solutions to an audience of regional and inter...
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Oman s global integrated logistics solutions provider Asyad Group in partnership with Hypermotion Dubai exhibition is giving innovation-driven entrepreneurs a platform to shine and compete for a life-changing prize of 50 000. To help foster sector growth Asyad Group along with its official technology partner Omantel and Hypermotion Dubai have created the Logistics Startup Challenge to be held in a special zone designed to harness the potential of burgeoning new companies entrepreneurs and ideas at Dubai Exhibition Centre (DEC) from November 2 to 4. The Logistics Startup Challenge will seek entrants across six key growth pillars for mobility and transport logistics namely artificial intelligence cyber security robotics logistics smart mobility and drones and will include a pitch contest where entrepreneurs will present their solutions to an audience of regional and inter...
Centre Point Logistics (CPL) a Dubai-based logistic supply chain company will showcase the best in logistics solutions at the Materials Handling Middle East (MHME) exhibition that will take place from November 2 to 4 2021 in Dubai. Established in 2005 CPL adds value to Dubai s competitive position offering end to end logistic and project solutions; the company provides a one-stop logistic solution from manufacturer to consumer integrating logistics services from warehouse and open yard storage customs clearance freight forwarding transportation technical support and distribution of cargo by sea land and air. Commenting on its participation Paul Morgan CEO of CPL said: 2020/21 has been a challenging period when Covid-19 hit resulting in travel restrictions and a major slowdown in the logistics and supply chain world. This year and as reported by Frost and Sullivan the logistics ...
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Centre Point Logistics (CPL) a Dubai-based logistic supply chain company will showcase the best in logistics solutions at the Materials Handling Middle East (MHME) exhibition that will take place from November 2 to 4 2021 in Dubai. Established in 2005 CPL adds value to Dubai s competitive position offering end to end logistic and project solutions; the company provides a one-stop logistic solution from manufacturer to consumer integrating logistics services from warehouse and open yard storage customs clearance freight forwarding transportation technical support and distribution of cargo by sea land and air. Commenting on its participation Paul Morgan CEO of CPL said: 2020/21 has been a challenging period when Covid-19 hit resulting in travel restrictions and a major slowdown in the logistics and supply chain world. This year and as reported by Frost and Sullivan the logistics ...
Cementing its role as an innovator in the logistics industry Asyad Group the Oman-based global integrated logistics solutions provider has announced its event line-up for the Global Logistics Challenge at Expo 2020 Dubai. Expected to attract high-level participation from international regional and local government entities and private organisations the Asyad Global Logistics Challenge is charting an innovative and sustainable future for the global logistics ecosystem. In collaboration with Hypermotion Dubai the Asyad Global Logistics Challenge includes two fast-paced competitions that seek to harness the talent of entrepreneurs and creative thinkers to solve some of the challenges faced by the global logistics industry. Happening from November 2 to 4 the Asyad Global Logistics Hackathon will task promising data scientists from across the globe to develop data-cen...
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Cementing its role as an innovator in the logistics industry Asyad Group the Oman-based global integrated logistics solutions provider has announced its event line-up for the Global Logistics Challenge at Expo 2020 Dubai. Expected to attract high-level participation from international regional and local government entities and private organisations the Asyad Global Logistics Challenge is charting an innovative and sustainable future for the global logistics ecosystem. In collaboration with Hypermotion Dubai the Asyad Global Logistics Challenge includes two fast-paced competitions that seek to harness the talent of entrepreneurs and creative thinkers to solve some of the challenges faced by the global logistics industry. Happening from November 2 to 4 the Asyad Global Logistics Hackathon will task promising data scientists from across the globe to develop data-cen...
The GCC logistics market is rebounding from a Covid-induced downturn and the region s surging e-commerce trade will support warehousing courier express and parcel growth in the coming year. This is according to a new whitepaper by consultants and research firm Frost & Sullivan. The 17-page whitepaper GCC Supply Chain & Logistics: What should your Digitisation Priorities be? reports a recent upsurge in Gulf container volumes which rose more than 15% in the first half of this year with Saudi Arabia and the UAE accounting for 83% of the region s 2021 logistics market. Prepared exclusively for Materials Handling Middle East 2021 the region s leading trade show for warehousing intralogistics and supply chain solutions to be held from November 2 to 4 the whitepaper identifies low technology adoption hurdles hampering the GCC se...
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The GCC logistics market is rebounding from a Covid-induced downturn and the region s surging e-commerce trade will support warehousing courier express and parcel growth in the coming year. This is according to a new whitepaper by consultants and research firm Frost & Sullivan. The 17-page whitepaper GCC Supply Chain & Logistics: What should your Digitisation Priorities be? reports a recent upsurge in Gulf container volumes which rose more than 15% in the first half of this year with Saudi Arabia and the UAE accounting for 83% of the region s 2021 logistics market. Prepared exclusively for Materials Handling Middle East 2021 the region s leading trade show for warehousing intralogistics and supply chain solutions to be held from November 2 to 4 the whitepaper identifies low technology adoption hurdles hampering the GCC se...
Footprint Real Estate a diversified international real estate firm headquartered in Dubai said it has witnessed steady growth in its property transactions and is expected to accumulate a total of AED1 billion ( 272 million) during the last quarter of the year. The firm which started as a brokerage company today offers a wide range of services such as residential and commercial sale and leasing property management investment advisory mortgage services facilities management and global real estate portfolio management. It has recorded property transaction value of more than AED200 million per month on the previous quarter and seeks to increase sales as an effect of the Expo2020 and the approaching holiday season said the statement from Footprint Real Estate. Founder and Managing Director Muhammad Ather Khawaja said: Expo 2020 is a great opportunity for visitors an...
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Footprint Real Estate a diversified international real estate firm headquartered in Dubai said it has witnessed steady growth in its property transactions and is expected to accumulate a total of AED1 billion ( 272 million) during the last quarter of the year. The firm which started as a brokerage company today offers a wide range of services such as residential and commercial sale and leasing property management investment advisory mortgage services facilities management and global real estate portfolio management. It has recorded property transaction value of more than AED200 million per month on the previous quarter and seeks to increase sales as an effect of the Expo2020 and the approaching holiday season said the statement from Footprint Real Estate. Founder and Managing Director Muhammad Ather Khawaja said: Expo 2020 is a great opportunity for visitors an...
DP World a leading global provider of smart supply chain solutions has launches its new digital logistics platform Cargoes Logistics which offers a single-window solution enabling seamless safe secure and efficient movement of cargo. With Cargoes Logistics customers can choose from multimodal logistics options ship freight by sea road and/or rail get instant quotes swift booking confirmation and multiple secure payment options in three simple steps Search Choose & Book. It will offer easy and swift cargo booking from origin to destination. The first phase of launch will immediately offer customers access to book cargo from UAE to India as well as India to multiple destinations across the Middle East Subcontinent Southeast Asia the Far East and North Africa. Cargoes Logistics aims to address complexities and inefficiencies that exist in global supply chains including multiple handovers inefficient trac...
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DP World a leading global provider of smart supply chain solutions has launches its new digital logistics platform Cargoes Logistics which offers a single-window solution enabling seamless safe secure and efficient movement of cargo. With Cargoes Logistics customers can choose from multimodal logistics options ship freight by sea road and/or rail get instant quotes swift booking confirmation and multiple secure payment options in three simple steps Search Choose & Book. It will offer easy and swift cargo booking from origin to destination. The first phase of launch will immediately offer customers access to book cargo from UAE to India as well as India to multiple destinations across the Middle East Subcontinent Southeast Asia the Far East and North Africa. Cargoes Logistics aims to address complexities and inefficiencies that exist in global supply chains including multiple handovers inefficient trac...
Investcorp a leading global provider and manager of alternative investment products has announced that it has sold its long leasehold interest in Bürocampus Wangen (the Campus) in Stuttgart Germany to Art-Invest Real Estate. This transaction marks Investcorp s first continental European exit and the latest step in the firm s broader pan-European real estate strategy. Since launching its European real estate business in 2017 Investcorp has invested 1 billion ( 1.16 billion) into 80 properties across the UK Germany The Netherlands Italy and Belgium. The Bahrain-based group had acquired the freehold interest in the Campus in 2018 from BEOS Corporate Real Estate Fund Germany I managed by BEOS. Upon acquisition the firm had re-structured the title and sold the freehold to an institutional investor retaining the long leasehold interest. ...
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Investcorp a leading global provider and manager of alternative investment products has announced that it has sold its long leasehold interest in Bürocampus Wangen (the Campus) in Stuttgart Germany to Art-Invest Real Estate. This transaction marks Investcorp s first continental European exit and the latest step in the firm s broader pan-European real estate strategy. Since launching its European real estate business in 2017 Investcorp has invested 1 billion ( 1.16 billion) into 80 properties across the UK Germany The Netherlands Italy and Belgium. The Bahrain-based group had acquired the freehold interest in the Campus in 2018 from BEOS Corporate Real Estate Fund Germany I managed by BEOS. Upon acquisition the firm had re-structured the title and sold the freehold to an institutional investor retaining the long leasehold interest. ...
Saudi Arabia aims to enhance the contribution of its transport and logistics services sector to the GDP to more than 10% by 2030 said Minister of Transport and Logistic Services Eng Saleh bin Nasser Al-Jasser. The minister speaking during the opening session of the 34th session of the Council of Arab Transport Ministers which kicked off in Cairo yesterday stressed that Saudi Arabia attached great attention to the sector adding that it has recenlty adopted the National Strategy for Transport and Logistics Services said a Saudi Press Agency report. He said this strategy aspires to consolidate the status of the kingdom as a global logistic hub and a model for comprehensive transport targeting to be among the top 10 nations in terms of the logistic services indicators. Eng Al-Jasser pointed out that the strategy has focused on developing the infrastructure through planning a set...
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Saudi Arabia aims to enhance the contribution of its transport and logistics services sector to the GDP to more than 10% by 2030 said Minister of Transport and Logistic Services Eng Saleh bin Nasser Al-Jasser. The minister speaking during the opening session of the 34th session of the Council of Arab Transport Ministers which kicked off in Cairo yesterday stressed that Saudi Arabia attached great attention to the sector adding that it has recenlty adopted the National Strategy for Transport and Logistics Services said a Saudi Press Agency report. He said this strategy aspires to consolidate the status of the kingdom as a global logistic hub and a model for comprehensive transport targeting to be among the top 10 nations in terms of the logistic services indicators. Eng Al-Jasser pointed out that the strategy has focused on developing the infrastructure through planning a set...
SAL Saudi Logistics Services (SAL) a leading ground handling and logistics company has signed an agreement with Classic Automotive Relocation Services (CARS) to provide comprehensive logistics support for all its car shipments. The agreement includes shipments passing through the Kingdom s main airports landports& seaports including Riyadh Jeddah Dammam and Medina. The agreement was signed at SAL HQ with SAL CEO Hesham Alhussayen and CARS Managing Partner James McSweeney. The companies agreed to collaborate on all logistics services on a comprehensive scale including first-mile last mile custom clearances warehousing and end-to-end services as well as other bespoke solutions for different shipments. Their agreement covers shipments both within and outside of KSA. For more than three decades CARS (Classic Automotive Relocation Services) has handled some of the most irreplaceable motorcars in the wor...
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SAL Saudi Logistics Services (SAL) a leading ground handling and logistics company has signed an agreement with Classic Automotive Relocation Services (CARS) to provide comprehensive logistics support for all its car shipments. The agreement includes shipments passing through the Kingdom s main airports landports& seaports including Riyadh Jeddah Dammam and Medina. The agreement was signed at SAL HQ with SAL CEO Hesham Alhussayen and CARS Managing Partner James McSweeney. The companies agreed to collaborate on all logistics services on a comprehensive scale including first-mile last mile custom clearances warehousing and end-to-end services as well as other bespoke solutions for different shipments. Their agreement covers shipments both within and outside of KSA. For more than three decades CARS (Classic Automotive Relocation Services) has handled some of the most irreplaceable motorcars in the wor...
Al Ruwad Real Estate a company specialised in real estate marketing and consultancy in Dubai emphasised the importance of smart real estate investments in the UAE during an awareness-raising session organized virtually by the Innovation Experts Real Estate Institution (IEREI) recently The event held via remote video conference was attended by a large number of real estate experts and stakeholders. Founder and CEO Ismail Al Hammadi shed light on the importance of smart real estate investments highlighting the multitude of trends and forms of investments in current times. It is crucial to make all forms of real estate investments available to everyone so that individuals can start easily with a small budget and then expand their investment to profit gradually pointing out that it depends on willingness to invest having the necessary knowledge of challenges and bei...
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Al Ruwad Real Estate a company specialised in real estate marketing and consultancy in Dubai emphasised the importance of smart real estate investments in the UAE during an awareness-raising session organized virtually by the Innovation Experts Real Estate Institution (IEREI) recently The event held via remote video conference was attended by a large number of real estate experts and stakeholders. Founder and CEO Ismail Al Hammadi shed light on the importance of smart real estate investments highlighting the multitude of trends and forms of investments in current times. It is crucial to make all forms of real estate investments available to everyone so that individuals can start easily with a small budget and then expand their investment to profit gradually pointing out that it depends on willingness to invest having the necessary knowledge of challenges and bei...
Bahri a global leader in logistics and transportation has been ranked seventh in the region in Forbes Middle East s list of 10 Biggest Logistics Companies in Mena . This consolidates Bahri s distinguished position and reputation in the maritime industry. The ranking recognises Bahri s emergence as a key player in the global shipping industry and its sustained growth and expansion in markets beyond the kingdom. It is also a fitting testament to the company s excellent performance amid uncertainties and challenging market conditions caused by the Covid-19 pandemic. Forbes Middle East considered multiple aspects of the region s logistics businesses when compiling the list including the size of the company in terms of assets revenues and market value; the percentage of trade enabled by the company and therefore its importance to the economy; and the quantity ...
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Bahri a global leader in logistics and transportation has been ranked seventh in the region in Forbes Middle East s list of 10 Biggest Logistics Companies in Mena . This consolidates Bahri s distinguished position and reputation in the maritime industry. The ranking recognises Bahri s emergence as a key player in the global shipping industry and its sustained growth and expansion in markets beyond the kingdom. It is also a fitting testament to the company s excellent performance amid uncertainties and challenging market conditions caused by the Covid-19 pandemic. Forbes Middle East considered multiple aspects of the region s logistics businesses when compiling the list including the size of the company in terms of assets revenues and market value; the percentage of trade enabled by the company and therefore its importance to the economy; and the quantity ...
The demand for purpose-built professionally managed residential space is expected to increase further as cities worldwide begin to recover from lockdowns and global net migration returns to pre-pandemic levels according to Savills the leading global real estate advisor. Despite the disruption caused by Covid-19 the global population movement will reach pre-pandemic levels by 2024 propelling the operational real estate sector to new heights stated Savills in its recently released Global Living 2021 report. The study focuses on the impact of global migration mobility trends in the context of the pandemic and ESG with a spotlight on embodied carbon. CEO Steven Morgan said: The Middle East s economy has recovered rapidly as a result of the accelerated vaccination drive showcasing its resilience as a place of investment and residence. Thi...
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The demand for purpose-built professionally managed residential space is expected to increase further as cities worldwide begin to recover from lockdowns and global net migration returns to pre-pandemic levels according to Savills the leading global real estate advisor. Despite the disruption caused by Covid-19 the global population movement will reach pre-pandemic levels by 2024 propelling the operational real estate sector to new heights stated Savills in its recently released Global Living 2021 report. The study focuses on the impact of global migration mobility trends in the context of the pandemic and ESG with a spotlight on embodied carbon. CEO Steven Morgan said: The Middle East s economy has recovered rapidly as a result of the accelerated vaccination drive showcasing its resilience as a place of investment and residence. Thi...
Momentum Logistics has replaced its transportation fleet with innovative sustainable and fuel-efficient Scania trucks distributed and serviced in the UAE by Al Shirawi Enterprises. With operations spanning the Middle East and the US Momentum Logistics a subsidiary of global port operator Gulftainer has an impressive fleet of over 100 commercial vehicles and 240 multipurpose trailers deployed at multiple depots across the region. Alex Lewis Managing Director of Momentum Logistics said: For a company that was launched just a decade ago we have come a long way expanding our scale of operations from the UAE to Iraq KSA and the USA. Our operations are heavily customer-centric and we wanted to choose the best for our customers. In the last ten years we have experimented enough to know what works the best and what doesn t. Scania was the obvious choice to initiate our fleet replacement pro...
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Momentum Logistics has replaced its transportation fleet with innovative sustainable and fuel-efficient Scania trucks distributed and serviced in the UAE by Al Shirawi Enterprises. With operations spanning the Middle East and the US Momentum Logistics a subsidiary of global port operator Gulftainer has an impressive fleet of over 100 commercial vehicles and 240 multipurpose trailers deployed at multiple depots across the region. Alex Lewis Managing Director of Momentum Logistics said: For a company that was launched just a decade ago we have come a long way expanding our scale of operations from the UAE to Iraq KSA and the USA. Our operations are heavily customer-centric and we wanted to choose the best for our customers. In the last ten years we have experimented enough to know what works the best and what doesn t. Scania was the obvious choice to initiate our fleet replacement pro...
New expansion plans in Qatar as it is hosting the 2022 FIFA World Cup have propelled its logistics market to over 7.5 billion which is estimated to register a CAGR of more than 7% during 2021-2026. With massive investment in infrastructure numerous new projects and an e-commerce boom Qatar s logistics sector has been expanding rapidly a development that Gulf Warehousing Company (GWC) is committed to support as a leading logistics provider and the Authorised Service Contractor of United Parcel Service (UPS) in Qatar. Following the recent launched of its logistics hub in Qatar s Ras Bufontas Free Zone GWC welcomed Scott Price President UPS International reaffirming a long-lasting business relationship. UPS s leadership visit comes at a time when the nation is gearing up for the FIFA World Cup Qatar 2022 for which GWC plays the role of Regional...
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New expansion plans in Qatar as it is hosting the 2022 FIFA World Cup have propelled its logistics market to over 7.5 billion which is estimated to register a CAGR of more than 7% during 2021-2026. With massive investment in infrastructure numerous new projects and an e-commerce boom Qatar s logistics sector has been expanding rapidly a development that Gulf Warehousing Company (GWC) is committed to support as a leading logistics provider and the Authorised Service Contractor of United Parcel Service (UPS) in Qatar. Following the recent launched of its logistics hub in Qatar s Ras Bufontas Free Zone GWC welcomed Scott Price President UPS International reaffirming a long-lasting business relationship. UPS s leadership visit comes at a time when the nation is gearing up for the FIFA World Cup Qatar 2022 for which GWC plays the role of Regional...
Activity levels across the UAE s real estate sectors are seeing a marked increase according to CBRE a commercial real estate services and investment firm. Over the course of the recent past the vast majority of activity has originated from incumbents however once again the market is beginning to see increased levels of interest from international investors it stated. In the residential sector average prices in Abu Dhabi increased by 2.2% in the year to August 2021 with average apartment prices rising by 1.9% to reach AED10 746 per square metre and average villa prices increasing by 3.1% to reach AED8 634 per sq m. Rents in the residential market fell by 4.7% in the 12-months to August 2021. New supply in Abu Dhabi remains limited with only 1 853 units being delivered in the year to date. An additional 9 388 are scheduled for delivery in the remainder ...
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Activity levels across the UAE s real estate sectors are seeing a marked increase according to CBRE a commercial real estate services and investment firm. Over the course of the recent past the vast majority of activity has originated from incumbents however once again the market is beginning to see increased levels of interest from international investors it stated. In the residential sector average prices in Abu Dhabi increased by 2.2% in the year to August 2021 with average apartment prices rising by 1.9% to reach AED10 746 per square metre and average villa prices increasing by 3.1% to reach AED8 634 per sq m. Rents in the residential market fell by 4.7% in the 12-months to August 2021. New supply in Abu Dhabi remains limited with only 1 853 units being delivered in the year to date. An additional 9 388 are scheduled for delivery in the remainder ...
The Kingdom of Bahrain today (September 29) launched the fastest regional multi-modal logistics hub in the region with only a two-hour turnaround time for all containers which means that products can be with customers in half the time and at 40% of the cost. The launch of the Bahrain Global Sea-Air Hub capitalises both on Bahrain s strategic position midway between European and Asian markets as well as on its proximity to regional target markets by establishing the most efficient multimodal sea-air transshipment hub in the region with a global reach the Ministry of Transportation and Telecommunications (MTT) said in a statement. The hub relies on streamlined clearance procedures optimised logistics and full digitisation to achieve an end-to-end lead time of just under two hours for goods transiting from Bahrain International Airport to Khalifa bin Salman Port and vice versa. ...
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The Kingdom of Bahrain today (September 29) launched the fastest regional multi-modal logistics hub in the region with only a two-hour turnaround time for all containers which means that products can be with customers in half the time and at 40% of the cost. The launch of the Bahrain Global Sea-Air Hub capitalises both on Bahrain s strategic position midway between European and Asian markets as well as on its proximity to regional target markets by establishing the most efficient multimodal sea-air transshipment hub in the region with a global reach the Ministry of Transportation and Telecommunications (MTT) said in a statement. The hub relies on streamlined clearance procedures optimised logistics and full digitisation to achieve an end-to-end lead time of just under two hours for goods transiting from Bahrain International Airport to Khalifa bin Salman Port and vice versa. ...
New construction contractor awards in the UAE are estimated to be worth 24.7 billion in 2021 as the Gulf country paves the way for a post-Covid rebound on the back of increased government expenditure and a fresh injection of foreign investment. According to a latest report (September 2021) by projects intelligence platform Ventures Onsite the UAE has launched several measures to attract foreign investment. In the UAE buildings such as residential commercial airports sports facilities hotels and recreational facilities healthcare and education hold the lion s share of new contractor awards in 2021 valued at 12.6 billion the report said. This is followed by the oil and gas sector ( 8.4 billion); power & water construction projects ( 2.2 billion) and infrastructure which includes roads bridges railways and ports ( 2 billion). Ventures Onsite s report was prepared exclusively for the Hardware Tools Mi...
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New construction contractor awards in the UAE are estimated to be worth 24.7 billion in 2021 as the Gulf country paves the way for a post-Covid rebound on the back of increased government expenditure and a fresh injection of foreign investment. According to a latest report (September 2021) by projects intelligence platform Ventures Onsite the UAE has launched several measures to attract foreign investment. In the UAE buildings such as residential commercial airports sports facilities hotels and recreational facilities healthcare and education hold the lion s share of new contractor awards in 2021 valued at 12.6 billion the report said. This is followed by the oil and gas sector ( 8.4 billion); power & water construction projects ( 2.2 billion) and infrastructure which includes roads bridges railways and ports ( 2 billion). Ventures Onsite s report was prepared exclusively for the Hardware Tools Mi...
Etihad Rail the developer and operator of the UAE s national rail network has completed the construction works of Package A of Stage Two of the country s ambitious rail project running over 139 km from Al Ghuwaifat on UAE s border with Saudi Arabia to Fujairah on the eastern coast. This significant step brings the company closer to completing the UAE National Railway Network on schedule as the Stage One which extends for 264 km from Habshan to Al Ruwais has already been completed. The announcement was made at the Etihad Rail board meeting held virtually under the chairmanship of Sheikh Theyab bin Mohamed bin Zayed Al Nahyan Chairman of the Abu Dhabi Crown Prince s Court and Etihad Rail to review the latest progress of the project as well as other major achievements made in the third quarter of 2021. Lauding the team Sheikh Theyab said; It is o...
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Etihad Rail the developer and operator of the UAE s national rail network has completed the construction works of Package A of Stage Two of the country s ambitious rail project running over 139 km from Al Ghuwaifat on UAE s border with Saudi Arabia to Fujairah on the eastern coast. This significant step brings the company closer to completing the UAE National Railway Network on schedule as the Stage One which extends for 264 km from Habshan to Al Ruwais has already been completed. The announcement was made at the Etihad Rail board meeting held virtually under the chairmanship of Sheikh Theyab bin Mohamed bin Zayed Al Nahyan Chairman of the Abu Dhabi Crown Prince s Court and Etihad Rail to review the latest progress of the project as well as other major achievements made in the third quarter of 2021. Lauding the team Sheikh Theyab said; It is o...
The Saudi Ministry of Justice has announced that more than 50 million real estate documents have been digitized under the Real Estate Title Digitization Initiative one of the ministry s initiatives in the National Transformation Programme. The digitization process goes through several steps at the 24/7 central digitization labs spread across the kingdom the largest of their kind in the Mena region. These include listing and collection of documents entry and revision transfer to digitization labs sterilization and restoration scanning and archiving and quality control. The processed deeds include 3-m-long deeds over 100 years old said a spokesman for Ministry of Justice. The central archiving facility for digitized documents is one of the largest archiving buildings in the Mena region having a capacity for more ...
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The Saudi Ministry of Justice has announced that more than 50 million real estate documents have been digitized under the Real Estate Title Digitization Initiative one of the ministry s initiatives in the National Transformation Programme. The digitization process goes through several steps at the 24/7 central digitization labs spread across the kingdom the largest of their kind in the Mena region. These include listing and collection of documents entry and revision transfer to digitization labs sterilization and restoration scanning and archiving and quality control. The processed deeds include 3-m-long deeds over 100 years old said a spokesman for Ministry of Justice. The central archiving facility for digitized documents is one of the largest archiving buildings in the Mena region having a capacity for more ...
Hansgrohe Group a leading faucet and shower manufacturer said the continued expansion of the luxury hotel and property development sector across the GCC coupled with an increasing appetite of consumers to own premium luxury products in their homes has contributed to the strong regional growth of the German company which is celebrating its 120th anniversary this year. Headquartered in Schiltach Hansgrohe is renowned for its innovative approach in crafting sustainable design-focused kitchen and bathroom fixtures and fittings. The group which boasts premium brands hansgrohe and Axor has increased its footprint across the region over the past several years and now has presence in 13 GCC countries. These include the UAE Saudi Arabia Kuwait and Qatar with Iraq the latest addition to a growing list. Its expansion into the Middle East through a representative office in D...
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Hansgrohe Group a leading faucet and shower manufacturer said the continued expansion of the luxury hotel and property development sector across the GCC coupled with an increasing appetite of consumers to own premium luxury products in their homes has contributed to the strong regional growth of the German company which is celebrating its 120th anniversary this year. Headquartered in Schiltach Hansgrohe is renowned for its innovative approach in crafting sustainable design-focused kitchen and bathroom fixtures and fittings. The group which boasts premium brands hansgrohe and Axor has increased its footprint across the region over the past several years and now has presence in 13 GCC countries. These include the UAE Saudi Arabia Kuwait and Qatar with Iraq the latest addition to a growing list. Its expansion into the Middle East through a representative office in D...
AD Ports Group has announced that the number of licences issued in the construction and building material sector in its Industrial Cities & Free Zone Cluster has reached 281 occupying a land area of 12 765 938 sq m in August. A key sector of the UAE s economy the total market size of the construction sector was valued at 101.45 billion in 2020. According to analysts the UAE s construction and building materials markets are very mature and are expected to hit 133.53 billion over the next five years thus registering an annual growth of 4.69 percent throughout 2021-2026. Abdullah Al Hameli the Head of the Industrial Cities and Free Zone Cluster at AD Ports Group said: The building material sector has been making a huge come back in the emirate as a result of the ongoing incentives offered by the government in line with the leadership s vision...
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AD Ports Group has announced that the number of licences issued in the construction and building material sector in its Industrial Cities & Free Zone Cluster has reached 281 occupying a land area of 12 765 938 sq m in August. A key sector of the UAE s economy the total market size of the construction sector was valued at 101.45 billion in 2020. According to analysts the UAE s construction and building materials markets are very mature and are expected to hit 133.53 billion over the next five years thus registering an annual growth of 4.69 percent throughout 2021-2026. Abdullah Al Hameli the Head of the Industrial Cities and Free Zone Cluster at AD Ports Group said: The building material sector has been making a huge come back in the emirate as a result of the ongoing incentives offered by the government in line with the leadership s vision...
Leading investor group Caisse des Dépôts said it has received a binding offer from Tikehau Capital the alternative asset management group for a 42 per cent stake in its subsidiary Egis a specialist in engineering construction and mobility services. Caisse des Dépôts has played a key role in the creation and development of Egis Group France s leading engineering company. It would continue to support Egis over the long term alongside Tikehau Capital and its executive partners and employees in the context of the proposed transaction with an active involvement in the group s governance. Egis creates and operates smart infrastructure and buildings capable of responding to the climate emergency and the major challenges of our time by enabling more balanced sustainable and resilient regional development. P...
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Leading investor group Caisse des Dépôts said it has received a binding offer from Tikehau Capital the alternative asset management group for a 42 per cent stake in its subsidiary Egis a specialist in engineering construction and mobility services. Caisse des Dépôts has played a key role in the creation and development of Egis Group France s leading engineering company. It would continue to support Egis over the long term alongside Tikehau Capital and its executive partners and employees in the context of the proposed transaction with an active involvement in the group s governance. Egis creates and operates smart infrastructure and buildings capable of responding to the climate emergency and the major challenges of our time by enabling more balanced sustainable and resilient regional development. P...
Saudi Arabia is all set to invite bids for the construction of residential cities dedicated for a total of 100 000 project workers within its futuristic 500-billion new city Neom on the Red Sea coast. The government plans to offer five to 10 bids over the coming six months reported Saudi Gazette. Each of these residential cities will have the capacity to accommodate around 10 000 workers. Deloitte company is providing the consultancy service for the government with regard to implementing the city. It has developed the Foreign Investment Advisory Center of Excellence with a view to assist prospective investors throughout their investment journey in the Kingdom. The government has accelerated the pace of work in implementing projects at Neom. Early this month bids were invited for the construction of 31k...
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Saudi Arabia is all set to invite bids for the construction of residential cities dedicated for a total of 100 000 project workers within its futuristic 500-billion new city Neom on the Red Sea coast. The government plans to offer five to 10 bids over the coming six months reported Saudi Gazette. Each of these residential cities will have the capacity to accommodate around 10 000 workers. Deloitte company is providing the consultancy service for the government with regard to implementing the city. It has developed the Foreign Investment Advisory Center of Excellence with a view to assist prospective investors throughout their investment journey in the Kingdom. The government has accelerated the pace of work in implementing projects at Neom. Early this month bids were invited for the construction of 31k...
Colliers a global leader in real estate services industry said it has won a total of 8 first place awards at the Euromoney Real Estate Awards 2021 and also reclaimed the title of Best Advisors and Consultants Overall in the Middle East region at the annual event. The 17th annual survey of the global real estate markets was conducted between March 8 and May 21 2021 and the results were announced last week. In addition to the advisors & consultants award Colliers was voted the first in Agency Letting/ Sales Property Valuaton and Research. Senior executives fill in the survey at country level and results are based on peer nominations and vote participation scores. Colliers won big at the awards clinching the award for: Middle East Advisor & Consultant Overall; Middle East Agen...
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Colliers a global leader in real estate services industry said it has won a total of 8 first place awards at the Euromoney Real Estate Awards 2021 and also reclaimed the title of Best Advisors and Consultants Overall in the Middle East region at the annual event. The 17th annual survey of the global real estate markets was conducted between March 8 and May 21 2021 and the results were announced last week. In addition to the advisors & consultants award Colliers was voted the first in Agency Letting/ Sales Property Valuaton and Research. Senior executives fill in the survey at country level and results are based on peer nominations and vote participation scores. Colliers won big at the awards clinching the award for: Middle East Advisor & Consultant Overall; Middle East Agen...
King Salman Energy Park (Spark) has reached an agreement with Hutchison Ports to set up a joint venture that will manage and operate the dry port and bonded logistics zone within the energy industrial city. Designed to ensure ease of access to global markets the 3-sq-km dry port will enable the future joint venture to capture the growing demand for logistics services for energy-related products in the Middle East and beyond while also serving the neighbouring industrial cities. A first-of-its-kind the dry port will connect the region s fully integrated energy hub to the world. Spanning over a 50 sq km area Spark is a sustainable global energy hub in Saudi Arabia s Eastern Province. It is a manufacturing service center and logistics unit for the energy sectors and an integral part of the Saudi Vision 2030. On completion ...
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King Salman Energy Park (Spark) has reached an agreement with Hutchison Ports to set up a joint venture that will manage and operate the dry port and bonded logistics zone within the energy industrial city. Designed to ensure ease of access to global markets the 3-sq-km dry port will enable the future joint venture to capture the growing demand for logistics services for energy-related products in the Middle East and beyond while also serving the neighbouring industrial cities. A first-of-its-kind the dry port will connect the region s fully integrated energy hub to the world. Spanning over a 50 sq km area Spark is a sustainable global energy hub in Saudi Arabia s Eastern Province. It is a manufacturing service center and logistics unit for the energy sectors and an integral part of the Saudi Vision 2030. On completion ...
Global supply chain operator Geodis is acquiring 21.5 hectares of land at Trade Port Noord from Greenport Venlo. Here Geodis plans to build one of the most sustainable logistics facilities in the Netherlands. The 130 000-sq-m contract logistics site will serve customers from various vertical sectors and is designed to accommodate the current growth in e-commerce. The Venlo region is one of Europe s prime spots for logistics activities located near the Dutch border with Germany acting as a link between the nearby air and seaports of Amsterdam Rotterdam and Antwerp with the major industrial markets of the continent. On the strategic move CEO Marie-Christine Lombard said: Trade Port Noord has excellent connections to the European multimodal infrastructure via road river rail ocean and air. This makes it the ideal location for Geodis to operate cargo flows for inter...
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Global supply chain operator Geodis is acquiring 21.5 hectares of land at Trade Port Noord from Greenport Venlo. Here Geodis plans to build one of the most sustainable logistics facilities in the Netherlands. The 130 000-sq-m contract logistics site will serve customers from various vertical sectors and is designed to accommodate the current growth in e-commerce. The Venlo region is one of Europe s prime spots for logistics activities located near the Dutch border with Germany acting as a link between the nearby air and seaports of Amsterdam Rotterdam and Antwerp with the major industrial markets of the continent. On the strategic move CEO Marie-Christine Lombard said: Trade Port Noord has excellent connections to the European multimodal infrastructure via road river rail ocean and air. This makes it the ideal location for Geodis to operate cargo flows for inter...
China State Construction Engineering Corporation Middle East (CSCEC) and Acciona took home multiple awards at the inaugural The Big 5 Construction Impact Awards announced yesterday. dmg events organisers of the awards announced the winners of 15 categories during a glittering awards ceremony held at the Dubai World Trade Centre. The awards are part of The Big 5 construction show that is currently underway in Dubai. Now in its 42nd edition The Big 5 is free to attend and continues at the Dubai World Trade Centre until September 15. Online access is available at www.thebig5.com for visitors unable to travel. The awards a platform to recognise sustainable development technological and digital achievements in the construction industry were judged by an independent panel of experts and thought leaders from the industry. They assessed hundreds of submissions and highlighted the winners who have shown innovation ...
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China State Construction Engineering Corporation Middle East (CSCEC) and Acciona took home multiple awards at the inaugural The Big 5 Construction Impact Awards announced yesterday. dmg events organisers of the awards announced the winners of 15 categories during a glittering awards ceremony held at the Dubai World Trade Centre. The awards are part of The Big 5 construction show that is currently underway in Dubai. Now in its 42nd edition The Big 5 is free to attend and continues at the Dubai World Trade Centre until September 15. Online access is available at www.thebig5.com for visitors unable to travel. The awards a platform to recognise sustainable development technological and digital achievements in the construction industry were judged by an independent panel of experts and thought leaders from the industry. They assessed hundreds of submissions and highlighted the winners who have shown innovation ...
Neom a massive new dev elopment coming up in northwest Saudi Arabia on the Red Sea successfully concluded a four-day gathering of 150 leading companies from across the world s design and construction industry. The meeting took guests through Neom s ambitious vision and plans that support Saudi Arabia s Vision 2030 and His Royal Highness Mohammed bin Salman s directive to build a better future said a statement. Attendees visited the Neom Logistics Park which includes new construction villages that support labour communities up to 30 000 as well as offices warehouses and construction service establishments. The 12 sq km park will be one of the world s largest temporary logistics centers and serve all future phases of construction in the coming years. Neom is committed to the future of design and construction and positively ...
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Neom a massive new dev elopment coming up in northwest Saudi Arabia on the Red Sea successfully concluded a four-day gathering of 150 leading companies from across the world s design and construction industry. The meeting took guests through Neom s ambitious vision and plans that support Saudi Arabia s Vision 2030 and His Royal Highness Mohammed bin Salman s directive to build a better future said a statement. Attendees visited the Neom Logistics Park which includes new construction villages that support labour communities up to 30 000 as well as offices warehouses and construction service establishments. The 12 sq km park will be one of the world s largest temporary logistics centers and serve all future phases of construction in the coming years. Neom is committed to the future of design and construction and positively ...
The 42nd edition of The Big 5 a leading global construction event opened at the Dubai World Trade Centre today (September 12) with over 1 200 exhibitors from 50 countries taking part in the four-day live event. Sheikh Mansoor bin Mohammed bin Rashid Al Maktoum Chairman of Dubai Sports Council officially inaugurated the event. The Big 5 is organised by dmg events and is free to attend for all pre-registered visitors. It concludes on September 15. Visiting professionals including architects engineers contractors project managers and more can connect with the exhibitors gaining access to the latest construction products and solutions from around the world to accelerate market growth following Covid-19 impact. The event also offers over 70 free-to-attend CPD certified talks delivered by 150 global speakers and covering critical topics such as Digital Tw...
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The 42nd edition of The Big 5 a leading global construction event opened at the Dubai World Trade Centre today (September 12) with over 1 200 exhibitors from 50 countries taking part in the four-day live event. Sheikh Mansoor bin Mohammed bin Rashid Al Maktoum Chairman of Dubai Sports Council officially inaugurated the event. The Big 5 is organised by dmg events and is free to attend for all pre-registered visitors. It concludes on September 15. Visiting professionals including architects engineers contractors project managers and more can connect with the exhibitors gaining access to the latest construction products and solutions from around the world to accelerate market growth following Covid-19 impact. The event also offers over 70 free-to-attend CPD certified talks delivered by 150 global speakers and covering critical topics such as Digital Tw...
Siemens Energy and sports car manufacturer Porsche have joined forces with a number of international companies to build an industrial plant for the production of virtually CO2-neutral fuel (eFuel) in Punta Arenas Chile. The ground-breaking ceremony for this pioneering project took place in the presence of Chile s Energy Minister Juan Carlos Jobet. A pilot plant is initially being built north of Punta Arenas in Chilean Patagonia which is expected to produce around 130 000 litres of eFuels in 2022. The capacity will then be expanded in two stages to around 55 million litres by 2024 and to around 550 million litres by 2026. The necessary environmental permits have now been obtained by the Chilean project company HIF (Highly Innovative Fuels). Siemens Energy has also already started preparatory work for the next major commercial phase of the project. I ...
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Siemens Energy and sports car manufacturer Porsche have joined forces with a number of international companies to build an industrial plant for the production of virtually CO2-neutral fuel (eFuel) in Punta Arenas Chile. The ground-breaking ceremony for this pioneering project took place in the presence of Chile s Energy Minister Juan Carlos Jobet. A pilot plant is initially being built north of Punta Arenas in Chilean Patagonia which is expected to produce around 130 000 litres of eFuels in 2022. The capacity will then be expanded in two stages to around 55 million litres by 2024 and to around 550 million litres by 2026. The necessary environmental permits have now been obtained by the Chilean project company HIF (Highly Innovative Fuels). Siemens Energy has also already started preparatory work for the next major commercial phase of the project. I ...
DP World UAE Region s Jebel Ali Free Zone (Jafza) will be showcasing its core competencies in the construction and building materials industry with its participation at the upcoming Big 5 expo in Dubai. One of the largest construction and contracting events in the Middle East region The Big 5 event is set to take place from September 12 to 15 at the Dubai World Trade Centre. Jafza s participation at The Big 5 is considered of exceptional importance as the Free Zone will offer a wide range of solutions that will enable key players in the region to tap into new markets and grow their business said the statement from DP World UAE Region. With its robust logistics capabilities and expansive reach Jafza succeeded in supporting over 3 300 construction-related companies enabling trade worth AED17 billion in 2020. This figure accounts for 29% of total constru...
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DP World UAE Region s Jebel Ali Free Zone (Jafza) will be showcasing its core competencies in the construction and building materials industry with its participation at the upcoming Big 5 expo in Dubai. One of the largest construction and contracting events in the Middle East region The Big 5 event is set to take place from September 12 to 15 at the Dubai World Trade Centre. Jafza s participation at The Big 5 is considered of exceptional importance as the Free Zone will offer a wide range of solutions that will enable key players in the region to tap into new markets and grow their business said the statement from DP World UAE Region. With its robust logistics capabilities and expansive reach Jafza succeeded in supporting over 3 300 construction-related companies enabling trade worth AED17 billion in 2020. This figure accounts for 29% of total constru...
Eltizam Asset Management Group subsidiary of Abu Dhabi-based International Holding Company has announced the acquisition of Inspire Integrated (formerly Multiplex Services) a real estate and facilities management company in Dubai for AED37 million ( 10 million). A major physical asset management company and a top investor in the built asset environment Eltizam said this comes as part of its strategy to expand the group s real estate infrastructure property management facilities management and project delivery services. Inspire Integrated which will continue to operate under the same name specialises in infrastructure and real estate solutions facilities management and project delivery services. The Dubai group s level of experience has resulted in highly complex contracts due to its robust asset and life cycle plans highly regulated compliance-based settin...
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Eltizam Asset Management Group subsidiary of Abu Dhabi-based International Holding Company has announced the acquisition of Inspire Integrated (formerly Multiplex Services) a real estate and facilities management company in Dubai for AED37 million ( 10 million). A major physical asset management company and a top investor in the built asset environment Eltizam said this comes as part of its strategy to expand the group s real estate infrastructure property management facilities management and project delivery services. Inspire Integrated which will continue to operate under the same name specialises in infrastructure and real estate solutions facilities management and project delivery services. The Dubai group s level of experience has resulted in highly complex contracts due to its robust asset and life cycle plans highly regulated compliance-based settin...
Aramco today announced a major expansion of its industrial investment programme Aramco Namaat with the signing of 22 new memoranda of understanding (MoUs) many of them covering the construction materials sector. The MoUs focus on capacity building in four key sectors: sustainability technology industrial and energy services and advanced materials. A joint venture agreement was also signed. Namaat means (collective) growth in Arabic and the programme aims to tap into the vast opportunities available in Saudi Arabia to create new value and drive economic expansion and diversification said an Aramco statement. The MoUs related to construction industry cover: setting up of a world-class integrated waste management company; modular construction facilities; engineering procurement and construction facilities; developing and using non-metallic applicat...
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Aramco today announced a major expansion of its industrial investment programme Aramco Namaat with the signing of 22 new memoranda of understanding (MoUs) many of them covering the construction materials sector. The MoUs focus on capacity building in four key sectors: sustainability technology industrial and energy services and advanced materials. A joint venture agreement was also signed. Namaat means (collective) growth in Arabic and the programme aims to tap into the vast opportunities available in Saudi Arabia to create new value and drive economic expansion and diversification said an Aramco statement. The MoUs related to construction industry cover: setting up of a world-class integrated waste management company; modular construction facilities; engineering procurement and construction facilities; developing and using non-metallic applicat...
After a relatively quiet July because of the Eid Al Adha holidays August bounced back to the growth trajectory that the Dubai Real Estate Market has been on since the end of last year. After June it is now the second highest month since December 2013 for the highest number of sales transactions in a single calendar month according to Property Finder. August had a total of 5 780 transactions worth AED14.97 billion ( 4.1 billion) making it the best August on record in the past 12 years it stated. This brings the year to date total to 37 537 sales transactions worth AED 88.12 billion. In just 8 months the value of real estate sales transactions is 22.61 percent more than 2020 as a whole. The entire year of 2020 had 35 401 sales transactions worth AED 71.87 billion it added. In July 55 per cent of all transactions were for seco...
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After a relatively quiet July because of the Eid Al Adha holidays August bounced back to the growth trajectory that the Dubai Real Estate Market has been on since the end of last year. After June it is now the second highest month since December 2013 for the highest number of sales transactions in a single calendar month according to Property Finder. August had a total of 5 780 transactions worth AED14.97 billion ( 4.1 billion) making it the best August on record in the past 12 years it stated. This brings the year to date total to 37 537 sales transactions worth AED 88.12 billion. In just 8 months the value of real estate sales transactions is 22.61 percent more than 2020 as a whole. The entire year of 2020 had 35 401 sales transactions worth AED 71.87 billion it added. In July 55 per cent of all transactions were for seco...
Asaas a leading cloud solutions provider for full-suite real estate management and marketing in Saudi Arabia has launched its online real estate auction platform - Mazad Aqari. Founded in 2018 by Abdullah Alghadouni a serial entrepreneur Asaas has gained the trust of over 500 real estate companies in Saudi Arabia and has processed over SR1 billion ( ) in transactions on its platform. According to industry experts 15% of real estate firms have shifted their operations to the cloud during the pandemic. As a leading proptech solutions provider Asaas provides real estate owners and managers with tools to manage maintenance CRM and promote their properties. With Asaas firms report a 60% increase in productivity 85% improved utilization of data and operations and a 13% improvement in sales stated its CEO Alghadouni...
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Asaas a leading cloud solutions provider for full-suite real estate management and marketing in Saudi Arabia has launched its online real estate auction platform - Mazad Aqari. Founded in 2018 by Abdullah Alghadouni a serial entrepreneur Asaas has gained the trust of over 500 real estate companies in Saudi Arabia and has processed over SR1 billion ( ) in transactions on its platform. According to industry experts 15% of real estate firms have shifted their operations to the cloud during the pandemic. As a leading proptech solutions provider Asaas provides real estate owners and managers with tools to manage maintenance CRM and promote their properties. With Asaas firms report a 60% increase in productivity 85% improved utilization of data and operations and a 13% improvement in sales stated its CEO Alghadouni...
Saudi Arabia s mega project Neom has invited bids for the construction of 31km of tunnels as part of The Line - a 170-km belt of hyper-connected future communities without cars and roads and built around nature - at its 500-billion city project according to a report. A revolution in urban living at the project The Line was launched by HRH Mohammed bin Salman Crown Prince and Chairman of the Neom Company Board of Directors early this year. It is a direct response to some of the most pressing challenges facing humanity today such as legacy infrastructure pollution traffic and human congestion. The tunnel project is a part of The Line s infrastructure backbone. The deadline for submitting the bids has been set at December 30 said a report by GlobalData s MEED. ...
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Saudi Arabia s mega project Neom has invited bids for the construction of 31km of tunnels as part of The Line - a 170-km belt of hyper-connected future communities without cars and roads and built around nature - at its 500-billion city project according to a report. A revolution in urban living at the project The Line was launched by HRH Mohammed bin Salman Crown Prince and Chairman of the Neom Company Board of Directors early this year. It is a direct response to some of the most pressing challenges facing humanity today such as legacy infrastructure pollution traffic and human congestion. The tunnel project is a part of The Line s infrastructure backbone. The deadline for submitting the bids has been set at December 30 said a report by GlobalData s MEED. ...
Saudi Arabia s masterplan Neom megaproject is steadily progressing from the drawing board. After five years of spending cuts the growing momentum of tender issuances from Neom is good news for contractors. The hope is that these tenders will swiftly translate into awards that can rejuvenate the contracting sector s financial health as well as restore confidence in the Saudi construction sector according to GlobalData s MEED. The US group Aecom was appointed project management consultant for the Neom Bay development in 2019 months after Riyadh approved the establishment of Neom as a joint-stock company wholly-owned by the Public Investment Fund to develop the project. Since 2019 around 1.43 billion worth of contracts have been awarded for construction and transport projects at Neom it stated. According to the re...
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Saudi Arabia s masterplan Neom megaproject is steadily progressing from the drawing board. After five years of spending cuts the growing momentum of tender issuances from Neom is good news for contractors. The hope is that these tenders will swiftly translate into awards that can rejuvenate the contracting sector s financial health as well as restore confidence in the Saudi construction sector according to GlobalData s MEED. The US group Aecom was appointed project management consultant for the Neom Bay development in 2019 months after Riyadh approved the establishment of Neom as a joint-stock company wholly-owned by the Public Investment Fund to develop the project. Since 2019 around 1.43 billion worth of contracts have been awarded for construction and transport projects at Neom it stated. According to the re...
P&O Maritime Logistics Multi-Carrying Vessel (MCV) visited the Arabian Gulf for the first time this week calling in Saudi Arabia and the UAE. The Topaz Moskva the vessel arrived in Saudi Arabia following a journey from Italy and also visited Dubai this week on its tour of the Middle East. The Topaz Moskva navigated the Suez Canal on her way from the Mediterranean Sea a first for this vessel category which are renowned for superior performance in shallow and narrow waterways. Additionally the ship crossed into the Arabian Gulf during monsoon season an atypical journey for this ship category demonstrating the true versatility of MCVs. Departing from Marghera Italy the Topaz Moskva made her journey carrying a full load of modules which she delivered to a chemical company based in Saudi Arabia arrivin...
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P&O Maritime Logistics Multi-Carrying Vessel (MCV) visited the Arabian Gulf for the first time this week calling in Saudi Arabia and the UAE. The Topaz Moskva the vessel arrived in Saudi Arabia following a journey from Italy and also visited Dubai this week on its tour of the Middle East. The Topaz Moskva navigated the Suez Canal on her way from the Mediterranean Sea a first for this vessel category which are renowned for superior performance in shallow and narrow waterways. Additionally the ship crossed into the Arabian Gulf during monsoon season an atypical journey for this ship category demonstrating the true versatility of MCVs. Departing from Marghera Italy the Topaz Moskva made her journey carrying a full load of modules which she delivered to a chemical company based in Saudi Arabia arrivin...
Adnoc Logistics & Services (Adnoc L&S) the shipping and maritime logistics arm of the Abu Dhabi National Oil Company (Adnoc) has acquired six line boats to provide critical marine services across petroleum ports in Abu Dhabi. All six vessels are the Damen Stan Tug 1606 type and were contracted directly from Sharjah-based Albwardy Damen as part of Adnoc Group s commitment to boost In-Country Value across its operations. The steel hulled twin screw vessels are powered by two Caterpillar engines providing nearly 16 tonnes of bollard pull. With their proven design these line boats enable Adnoc L&S to continue providing reliable and efficient operations to the Petroleum Ports Authority (PPA) in Abu Dhabi. Captain Abdulkareem Al Masabi CEO of Adnoc L&S said: The acquisition of these state-of-the-art line boats from Albwardy Damen is aligned with our strategy of growing the Adnoc L&S fleet with highly s...
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Adnoc Logistics & Services (Adnoc L&S) the shipping and maritime logistics arm of the Abu Dhabi National Oil Company (Adnoc) has acquired six line boats to provide critical marine services across petroleum ports in Abu Dhabi. All six vessels are the Damen Stan Tug 1606 type and were contracted directly from Sharjah-based Albwardy Damen as part of Adnoc Group s commitment to boost In-Country Value across its operations. The steel hulled twin screw vessels are powered by two Caterpillar engines providing nearly 16 tonnes of bollard pull. With their proven design these line boats enable Adnoc L&S to continue providing reliable and efficient operations to the Petroleum Ports Authority (PPA) in Abu Dhabi. Captain Abdulkareem Al Masabi CEO of Adnoc L&S said: The acquisition of these state-of-the-art line boats from Albwardy Damen is aligned with our strategy of growing the Adnoc L&S fleet with highly s...
Despite the challenges raised by the Covid-19 pandemic real estate markets in the UAE have shown a considerable degree of resilience this year according to real estate industry expert CBRE. Looking ahead the IMF and the UAE Central Bank forecast that the UAE s GDP is expected to grow in 2021 by 1.6% and 2.4% respectively. Whilst these growth forecasts have a considerable range continuing improvement in activity in the non-oil sector the recent uplift in oil output production cuts which will aid the oil sector both backed by stronger global growth means that it will likely see the realised growth rate sit towards the higher end of the range stated CBRE in its UAE Market Review Q2 2021. On the residential market CBRE said Abu Dhabi s residential prices increased by 2.4% in the year to June 2021. Over this period average apartment prices increase...
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Despite the challenges raised by the Covid-19 pandemic real estate markets in the UAE have shown a considerable degree of resilience this year according to real estate industry expert CBRE. Looking ahead the IMF and the UAE Central Bank forecast that the UAE s GDP is expected to grow in 2021 by 1.6% and 2.4% respectively. Whilst these growth forecasts have a considerable range continuing improvement in activity in the non-oil sector the recent uplift in oil output production cuts which will aid the oil sector both backed by stronger global growth means that it will likely see the realised growth rate sit towards the higher end of the range stated CBRE in its UAE Market Review Q2 2021. On the residential market CBRE said Abu Dhabi s residential prices increased by 2.4% in the year to June 2021. Over this period average apartment prices increase...
About 74% of SMEs in construction and manufacturing across MEA are optimistic about the next 12 months a report said noting that the sectors had the best forecasts with 76% of SMEs projecting revenues that will either grow or hold steady. Half (50%) are projecting an increase added the inaugural Mastercard Middle East and Africa (MEA) SME Confidence Index. Confidence levels were highest among businesses in retail closely followed by food beverage and entertainment. Access to training credit and data key for future growth As many regional economies gradually enter the normalization and growth phase and social restrictions continue to ease small and medium sized businesses in the MEA region s construction and manufacturing sector have identified upskilling staff (56%) easier access to credit (56%) and better data and insights (52%) as the top drivers for growth. This highlights the opportuni...
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About 74% of SMEs in construction and manufacturing across MEA are optimistic about the next 12 months a report said noting that the sectors had the best forecasts with 76% of SMEs projecting revenues that will either grow or hold steady. Half (50%) are projecting an increase added the inaugural Mastercard Middle East and Africa (MEA) SME Confidence Index. Confidence levels were highest among businesses in retail closely followed by food beverage and entertainment. Access to training credit and data key for future growth As many regional economies gradually enter the normalization and growth phase and social restrictions continue to ease small and medium sized businesses in the MEA region s construction and manufacturing sector have identified upskilling staff (56%) easier access to credit (56%) and better data and insights (52%) as the top drivers for growth. This highlights the opportuni...
The resurgence of the UAE s real estate market continued in Q2 with some segments seeing double-digit growth in sales prices according to property management expert Asteco. The villa rental and sales rates in Abu Dhabi and Dubai continued to surge with sales prices in certain segments expanding by almost a quarter in the period under review stated Asteco in its Q2 2021 UAE Real Estate Report. Abu Dhabi Residential and Office Real Estate Market The report said that developers delivered approximately 2 070 apartments and villas in Q2 in capital particularly within Yas Island and several buildings in Al Raha Beach. The report notes that more than 9 350 residential units are set for handover by year-end; however some projects are likely to experience delays and spill over into 2022. div...
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The resurgence of the UAE s real estate market continued in Q2 with some segments seeing double-digit growth in sales prices according to property management expert Asteco. The villa rental and sales rates in Abu Dhabi and Dubai continued to surge with sales prices in certain segments expanding by almost a quarter in the period under review stated Asteco in its Q2 2021 UAE Real Estate Report. Abu Dhabi Residential and Office Real Estate Market The report said that developers delivered approximately 2 070 apartments and villas in Q2 in capital particularly within Yas Island and several buildings in Al Raha Beach. The report notes that more than 9 350 residential units are set for handover by year-end; however some projects are likely to experience delays and spill over into 2022. div...
Agility a leader in supply chain services said that it expects to complete the sale of its Global Integrated Logistics (GIL) business to DSV Panalpina A/S (DSV) a Danish transport and logistics company today (August 16). The all-shares transaction gives Agility 19 304 348 DSV shares upon full completion of the deal in all jurisdictions representing approximately 8% of all post-transaction shares of DSV. This makes Agility the second largest DSV shareholder based on today s shareholder register. The enterprise value of the transaction is 4.775 billion and the equity value is 4.675 billion. We ve shown that Agility knows how to build and scale successful businesses. This deal affirms Agility s global strategy and execution and positions us for a new era of growth said Tarek Sultan Agility Vice Chairman and CEO. We re moving forward with a strategic investment in DSV on...
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Agility a leader in supply chain services said that it expects to complete the sale of its Global Integrated Logistics (GIL) business to DSV Panalpina A/S (DSV) a Danish transport and logistics company today (August 16). The all-shares transaction gives Agility 19 304 348 DSV shares upon full completion of the deal in all jurisdictions representing approximately 8% of all post-transaction shares of DSV. This makes Agility the second largest DSV shareholder based on today s shareholder register. The enterprise value of the transaction is 4.775 billion and the equity value is 4.675 billion. We ve shown that Agility knows how to build and scale successful businesses. This deal affirms Agility s global strategy and execution and positions us for a new era of growth said Tarek Sultan Agility Vice Chairman and CEO. We re moving forward with a strategic investment in DSV on...
The World Logistics Passport (WLP) is expanding in Dubai with the joining of the Department of Planning and Development (Trakhees) the regulatory arm of Ports Customs and Free Zone Corporation in Dubai (PCFC). The WLP is the world s first freight loyalty programme designed to increase trading opportunities between markets and accelerate the flow of global trade a WAM report said. Registering as a Partner Trakhees joins the Dubai-based global hub s roster of leading organisations including PCFC Emirates SkyCargo and DP World among others and will enable WLP members to benefit from enhanced efficiencies that will facilitate the continued growth of Dubai s non-oil external trade. Sultan Ahmed bin Sulayem the Chairman of PCFC praised the WLP programme for its contribution to increasing and improving international trade. He expressed his optimism about Trakhe...
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The World Logistics Passport (WLP) is expanding in Dubai with the joining of the Department of Planning and Development (Trakhees) the regulatory arm of Ports Customs and Free Zone Corporation in Dubai (PCFC). The WLP is the world s first freight loyalty programme designed to increase trading opportunities between markets and accelerate the flow of global trade a WAM report said. Registering as a Partner Trakhees joins the Dubai-based global hub s roster of leading organisations including PCFC Emirates SkyCargo and DP World among others and will enable WLP members to benefit from enhanced efficiencies that will facilitate the continued growth of Dubai s non-oil external trade. Sultan Ahmed bin Sulayem the Chairman of PCFC praised the WLP programme for its contribution to increasing and improving international trade. He expressed his optimism about Trakhe...
UAE Vice President and Prime Minister HH Sheikh Mohammed bin Rashid Al Maktoum in his capacity as Ruler of Dubai issued a Decree No. (24) of 2021 regulating the use of 3D printing in the construction sector. Dubai Municipality is tasked with overseeing the implementation of the new Decree. The new legislation supports the emirate s strategic target to ensure that 25% of its buildings are constructed using 3D printing technology by 2030 reported state news agency Wam. The decree also aims to promote Dubai as a regional and global hub for the use of 3D printing technologies. Part of a broader plan to spur economic growth and promote adoption of advanced technologies in the emirate the new legislation seeks to enhance efficiencies in construction projects enhance the local industry s competitiveness reduce waste and attract leading companies in the sector to Dubai. A...
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UAE Vice President and Prime Minister HH Sheikh Mohammed bin Rashid Al Maktoum in his capacity as Ruler of Dubai issued a Decree No. (24) of 2021 regulating the use of 3D printing in the construction sector. Dubai Municipality is tasked with overseeing the implementation of the new Decree. The new legislation supports the emirate s strategic target to ensure that 25% of its buildings are constructed using 3D printing technology by 2030 reported state news agency Wam. The decree also aims to promote Dubai as a regional and global hub for the use of 3D printing technologies. Part of a broader plan to spur economic growth and promote adoption of advanced technologies in the emirate the new legislation seeks to enhance efficiencies in construction projects enhance the local industry s competitiveness reduce waste and attract leading companies in the sector to Dubai. A...
The UAE is organising the International Conference on Automation and Robotics in Construction for the first time in the Arab region in Dubai from November 2 to 5 2021. The 38th edition of the event will see leading global industry players discuss and review the latest scientific and technological research related to the development of construction methods using robots and artificial intelligence. The UAE won the right to host the major global event during its participation in the 36th session of the conference held in Canada where the Ministry of Energy and Infrastructure submitted the hosting bid in partnership and cooperation with the National Program for Artificial Intelligence the Dubai Tourism Authority the University of Sharjah and Geminos Commercial Information Services and Emirates scholar winning the admiration and approval of the World Organization for Automation and Robotics in Constr...
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The UAE is organising the International Conference on Automation and Robotics in Construction for the first time in the Arab region in Dubai from November 2 to 5 2021. The 38th edition of the event will see leading global industry players discuss and review the latest scientific and technological research related to the development of construction methods using robots and artificial intelligence. The UAE won the right to host the major global event during its participation in the 36th session of the conference held in Canada where the Ministry of Energy and Infrastructure submitted the hosting bid in partnership and cooperation with the National Program for Artificial Intelligence the Dubai Tourism Authority the University of Sharjah and Geminos Commercial Information Services and Emirates scholar winning the admiration and approval of the World Organization for Automation and Robotics in Constr...
Sustainability and digitalization are two of the world s leading trends that the region s construction industry must incorporate to ensure sustainable growth according to Trimble a global leader in construction technology. Trimble said that its construction technology solutions have been contributing to the reduction of greenhouse gas emissions in the field by at least 553 964 tonnes per year. It noted that the solution further supports the sector s goals of cutting carbon footprint and contributing to the UN global goals towards sustainable development. Architecture engineering and construction (AEC) companies across the globe have experienced higher success in project delivery using Trimble technology both at job site and in office reporting up to 50 per cent less rework up to 30 per cent cost savings informed decision making and up to 30 pe...
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Sustainability and digitalization are two of the world s leading trends that the region s construction industry must incorporate to ensure sustainable growth according to Trimble a global leader in construction technology. Trimble said that its construction technology solutions have been contributing to the reduction of greenhouse gas emissions in the field by at least 553 964 tonnes per year. It noted that the solution further supports the sector s goals of cutting carbon footprint and contributing to the UN global goals towards sustainable development. Architecture engineering and construction (AEC) companies across the globe have experienced higher success in project delivery using Trimble technology both at job site and in office reporting up to 50 per cent less rework up to 30 per cent cost savings informed decision making and up to 30 pe...
Global players in the building and construction sector will be back for The Big 5 expo at the Dubai World Trade Centre which will host the only live in-person event to connect the industry s bigwigs in 2021 thus playing a crucial role in driving economic recovery in the post-Covid-19 era. Organised by dmg events The Big 5 runs from September 12 to 15 alongside The Big 5 Heavy Middle East Concrete Windows Doors & Facades Event Gulf Glass HVAC R Expo The Big 5 Solar Middle East Stone Urban Design & Landscape Expo FM Expo. Celebrating its 42nd year the Middle East and Africa (MEA) and South Asia region s largest and most influential event for the construction industry has so far confirmed more than 1000 exhibitors from 45 countries and 20 country pavilions said the organisers dmg events. An online networking and meeting facilitation ad...
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Global players in the building and construction sector will be back for The Big 5 expo at the Dubai World Trade Centre which will host the only live in-person event to connect the industry s bigwigs in 2021 thus playing a crucial role in driving economic recovery in the post-Covid-19 era. Organised by dmg events The Big 5 runs from September 12 to 15 alongside The Big 5 Heavy Middle East Concrete Windows Doors & Facades Event Gulf Glass HVAC R Expo The Big 5 Solar Middle East Stone Urban Design & Landscape Expo FM Expo. Celebrating its 42nd year the Middle East and Africa (MEA) and South Asia region s largest and most influential event for the construction industry has so far confirmed more than 1000 exhibitors from 45 countries and 20 country pavilions said the organisers dmg events. An online networking and meeting facilitation ad...
Ras Al Khaimah Economic Zone (Rakez) has welcomed a prominent road construction player RAD International Road Construction LLC to its growing industrial cluster in its Al Ghail Industrial Zone. The branch company was established under the name of RAD Asphalt LLC with an approximate investment of AED10 million ( 2.7 million). With more than 18 years of experience in the UAE s road construction industry RAD International Road Construction LLC has established a strong local presence by catering to various projects within the country. RAD s new facility in Rakez spreads over 10 000 sq m of land and hosts more than 200 workers. The facility will be RAD s production base for materials necessary for the implementation of road construction services. We made the right decision of joining Rakez for the construction of our new facility. It is in line with o...
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Ras Al Khaimah Economic Zone (Rakez) has welcomed a prominent road construction player RAD International Road Construction LLC to its growing industrial cluster in its Al Ghail Industrial Zone. The branch company was established under the name of RAD Asphalt LLC with an approximate investment of AED10 million ( 2.7 million). With more than 18 years of experience in the UAE s road construction industry RAD International Road Construction LLC has established a strong local presence by catering to various projects within the country. RAD s new facility in Rakez spreads over 10 000 sq m of land and hosts more than 200 workers. The facility will be RAD s production base for materials necessary for the implementation of road construction services. We made the right decision of joining Rakez for the construction of our new facility. It is in line with o...
Dubai s real estate sector recorded 6 388 sales transactions in June 2021 worth AED 14.79 billion according to the 16th edition of Mo asher Dubai s official sales price index. This was the highest value of sales in eight years it added. The base year for Mo asher is 2012 the base quarter for the quarterly index is Q1 2012 and the base month for the monthly index is January 2012. In June the overall monthly index recorded 1.07 and an index price of AED 1 009 593 the apartments monthly Index recorded 1.088 and an index price of AED 904 920 and the villas/townhouses monthly Index recorded 1.013 and an index price of AED 1 822 343. The sales transactions in June 2021 were 44.33 percent higher in terms of volume and 33.2 percent higher in value compared to May 2021. In Q2 2021 the ...
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Dubai s real estate sector recorded 6 388 sales transactions in June 2021 worth AED 14.79 billion according to the 16th edition of Mo asher Dubai s official sales price index. This was the highest value of sales in eight years it added. The base year for Mo asher is 2012 the base quarter for the quarterly index is Q1 2012 and the base month for the monthly index is January 2012. In June the overall monthly index recorded 1.07 and an index price of AED 1 009 593 the apartments monthly Index recorded 1.088 and an index price of AED 904 920 and the villas/townhouses monthly Index recorded 1.013 and an index price of AED 1 822 343. The sales transactions in June 2021 were 44.33 percent higher in terms of volume and 33.2 percent higher in value compared to May 2021. In Q2 2021 the ...
Despite the ongoing uncertainty over the Covid-19 pandemic growth in global construction output will reach 5.7% in 2021 following the 2.4% drop last year according to GlobalData a leading data and analytics company. Although recovering from the Covid-19 crisis the global industry has borne a huge cost in terms of foregone revenue it said. The global construction will continue on a recovery path following the historic collapse in activity in 2020 amid the severe disruption caused by restrictions imposed to contain the spread of Covid-19 stated GlobalData in its latest report Global Construction Outlook to 2025. From 2022 to 2025 global output growth is predicted to average 3.7% a year. Danny Richards the lead economist at GlobalData said: There is also still great uncertainty over how the Covid-19 crisis wil...
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Despite the ongoing uncertainty over the Covid-19 pandemic growth in global construction output will reach 5.7% in 2021 following the 2.4% drop last year according to GlobalData a leading data and analytics company. Although recovering from the Covid-19 crisis the global industry has borne a huge cost in terms of foregone revenue it said. The global construction will continue on a recovery path following the historic collapse in activity in 2020 amid the severe disruption caused by restrictions imposed to contain the spread of Covid-19 stated GlobalData in its latest report Global Construction Outlook to 2025. From 2022 to 2025 global output growth is predicted to average 3.7% a year. Danny Richards the lead economist at GlobalData said: There is also still great uncertainty over how the Covid-19 crisis wil...
Leading international law firm Clifford Chance is advising long standing client DP World the leading smart trade enabler on its proposed acquisition (by way of scheme of arrangement) of JSE-listed Imperial Logistics a logistics and market access solutions provider with operations across Africa and Europe. The acquisition of Imperial provides significant strategic value by complementing the DP World group s existing footprint in Africa and Europe and enabling it to deliver an end-to-end solution to cargo owners across a wide and highly competitive market. The Clifford Chance team drew expertise from various practice groups and offices across its network and was supported by South African local counsel Webber Wentzel. The team was led by partners Deniz Tas (Dubai Corporate) Tim Lewis (London Corporate) and Robin Abraham (Dubai/London Finance). ...
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Leading international law firm Clifford Chance is advising long standing client DP World the leading smart trade enabler on its proposed acquisition (by way of scheme of arrangement) of JSE-listed Imperial Logistics a logistics and market access solutions provider with operations across Africa and Europe. The acquisition of Imperial provides significant strategic value by complementing the DP World group s existing footprint in Africa and Europe and enabling it to deliver an end-to-end solution to cargo owners across a wide and highly competitive market. The Clifford Chance team drew expertise from various practice groups and offices across its network and was supported by South African local counsel Webber Wentzel. The team was led by partners Deniz Tas (Dubai Corporate) Tim Lewis (London Corporate) and Robin Abraham (Dubai/London Finance). ...
DP World has announced an offer to acquire JSE-listed Imperial Logistics an integrated logistics and market access company with operations mainly across the African continent and in Europe. The acquisition will enhance DP World s capabilities particularly in Africa building on its extensive infrastructure of ports terminals and economic zones. It will also significantly accelerate DP World s transformation into an advanced logistics company offering end to end supply chain services to the owners of cargo it said in a statement. DP World s cash offer of ZAR66 per share implies an equity consideration of around ZAR 12.7bn (around 890 million). It represents a premium of 39.5% to the Imperial share price as of 7th July 2021 on the Johannesburg Stock Exchange (JSE) and a 34.2% premium to the 30-day volume weighted average price. This transaction is subject to Imperial s shareholde...
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DP World has announced an offer to acquire JSE-listed Imperial Logistics an integrated logistics and market access company with operations mainly across the African continent and in Europe. The acquisition will enhance DP World s capabilities particularly in Africa building on its extensive infrastructure of ports terminals and economic zones. It will also significantly accelerate DP World s transformation into an advanced logistics company offering end to end supply chain services to the owners of cargo it said in a statement. DP World s cash offer of ZAR66 per share implies an equity consideration of around ZAR 12.7bn (around 890 million). It represents a premium of 39.5% to the Imperial share price as of 7th July 2021 on the Johannesburg Stock Exchange (JSE) and a 34.2% premium to the 30-day volume weighted average price. This transaction is subject to Imperial s shareholde...
The Middle East region s economy is recovering relatively well but is slower than the global average with hard hit sectors like tourism and aviation still under strain while real estate recovery is accelerating according to a new report by PwC a leading assurance advisory and tax services firm. With the pandemic continuing to challenge different economic sectors across the region PwC in its latest edition of the Middle East Economy Watch points to signs of building momentum in the recovery despite a third Covid-19 wave this spring. The pandemic caused the world s worst global recession since the second world war with deep contractions across the region. This was partly because of sharp cuts in oil production as lockdowns caused demand to drop substantially. Even the non-oil sectors such as travel tourism real estate retail wholesale trade and ...
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The Middle East region s economy is recovering relatively well but is slower than the global average with hard hit sectors like tourism and aviation still under strain while real estate recovery is accelerating according to a new report by PwC a leading assurance advisory and tax services firm. With the pandemic continuing to challenge different economic sectors across the region PwC in its latest edition of the Middle East Economy Watch points to signs of building momentum in the recovery despite a third Covid-19 wave this spring. The pandemic caused the world s worst global recession since the second world war with deep contractions across the region. This was partly because of sharp cuts in oil production as lockdowns caused demand to drop substantially. Even the non-oil sectors such as travel tourism real estate retail wholesale trade and ...
Leading construction groups will unite to hit net zero target with proposed new carbon reporting rules according to Royal Institution of Chartered Surveyors (RICS). The RICS working as part of an international coalition of built environment professional groups seeking to drive the industry in measuring carbon - and therefore to take effective action on climate change has jointly published for consultation the world s first international standard for reporting carbon emissions across all areas of construction. The consultation will seek input from industry on how to make sure carbon emissions factor directly into the extensive decision making that goes behind planning construction projects. This is to be followed shortly by new RICS guidance for professionals on how to assess embodied carbon . With constructi...
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Leading construction groups will unite to hit net zero target with proposed new carbon reporting rules according to Royal Institution of Chartered Surveyors (RICS). The RICS working as part of an international coalition of built environment professional groups seeking to drive the industry in measuring carbon - and therefore to take effective action on climate change has jointly published for consultation the world s first international standard for reporting carbon emissions across all areas of construction. The consultation will seek input from industry on how to make sure carbon emissions factor directly into the extensive decision making that goes behind planning construction projects. This is to be followed shortly by new RICS guidance for professionals on how to assess embodied carbon . With constructi...
To engage with the global start-up community ahead of International Small and Medium Business (SMB) Day UPS has partnered with AstroLabs a capability building company committed to developing the digital ecosystem in the Mena region. Together the two organisations hosted the Smart Logistics Challenge in Dubai UAE inviting start-ups and entrepreneurs from across the world to present innovative solutions that can help solve the industry s critical challenges. Held virtually the aim of the challenge was to create an ecosystem that enables the identification and nurturing of an emerging technology helping solve a specific local and regional market need. The challenge reached 45 000 start-ups from across the globe with 50 tech hubs and over 10 partner networks activated. Around 96 start-ups from 29 countries were then filtered to participate of which seven were short-listed and mentored to present their...
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To engage with the global start-up community ahead of International Small and Medium Business (SMB) Day UPS has partnered with AstroLabs a capability building company committed to developing the digital ecosystem in the Mena region. Together the two organisations hosted the Smart Logistics Challenge in Dubai UAE inviting start-ups and entrepreneurs from across the world to present innovative solutions that can help solve the industry s critical challenges. Held virtually the aim of the challenge was to create an ecosystem that enables the identification and nurturing of an emerging technology helping solve a specific local and regional market need. The challenge reached 45 000 start-ups from across the globe with 50 tech hubs and over 10 partner networks activated. Around 96 start-ups from 29 countries were then filtered to participate of which seven were short-listed and mentored to present their...
Bahrain Real Estate Investment Company (Edamah) the real estate arm of the kingdom s sovereign wealth fund Mumtalakat Holding Company has unveiled its new corporate brand to highlight its bold growth plans for the country s real estate sector and to further connect with its audiences. The new visual identity was created in partnership with Unisono a Bahrain-based leader in strategic brand development. The core visual identity symbolises Edamah s evolution and expresses the creative essence of the brand within a professional and corporate aesthetic. On its new move Edamah CEO Amin Alarrayed said: Edamah is driven by a promise to the people of Bahrain to deliver projects that transform inspire and elevate. Our new brand identity reflects the dynamic new phase we are entering and affirms our commitment to our investors the public and other...
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Bahrain Real Estate Investment Company (Edamah) the real estate arm of the kingdom s sovereign wealth fund Mumtalakat Holding Company has unveiled its new corporate brand to highlight its bold growth plans for the country s real estate sector and to further connect with its audiences. The new visual identity was created in partnership with Unisono a Bahrain-based leader in strategic brand development. The core visual identity symbolises Edamah s evolution and expresses the creative essence of the brand within a professional and corporate aesthetic. On its new move Edamah CEO Amin Alarrayed said: Edamah is driven by a promise to the people of Bahrain to deliver projects that transform inspire and elevate. Our new brand identity reflects the dynamic new phase we are entering and affirms our commitment to our investors the public and other...
Al Haddad Motors the authorised general distributor for Mercedes-Benz in Bahrain said it had recently delivered a fleet of Mercedes-Benz Actros Trucks to RedX Industries one of the leading construction companies in Bahrain. Al Haddad Motors said it has had a long withstanding partnership with RedX Industries which continuously chose Mercedes-Benz trucks based on its quality safety durability and reliability. RedX Industries has now made multi-million dinar investment in the purchase of Mercedes Benz commercial vehicles it added. The trucks were handed over at the Al Haddad Motors facility located at Salmabad in the presence of Shaikh Ali Isa Ali Abdulla Al Khalifa Managing Director of RedX Industries and Eduardo Aniag General Manager of the Asphalt Division alongside Rasool Al Haddad Chairman of Al Haddad Motors Warren Hudson General Manager of Al Haddad Mo...
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Al Haddad Motors the authorised general distributor for Mercedes-Benz in Bahrain said it had recently delivered a fleet of Mercedes-Benz Actros Trucks to RedX Industries one of the leading construction companies in Bahrain. Al Haddad Motors said it has had a long withstanding partnership with RedX Industries which continuously chose Mercedes-Benz trucks based on its quality safety durability and reliability. RedX Industries has now made multi-million dinar investment in the purchase of Mercedes Benz commercial vehicles it added. The trucks were handed over at the Al Haddad Motors facility located at Salmabad in the presence of Shaikh Ali Isa Ali Abdulla Al Khalifa Managing Director of RedX Industries and Eduardo Aniag General Manager of the Asphalt Division alongside Rasool Al Haddad Chairman of Al Haddad Motors Warren Hudson General Manager of Al Haddad Mo...
GFH Financial Group (GFH) has announced the acquisition of a US-based warehousing and distribution logistics facility situated in Ohio and fully leased to FedEx in a transaction valued at 100 million. This is part of GFH s logistics and industrial sector investment theme focusing on the acquisition of high quality logistics assets in key distribution hubs to capitalize on the strong tailwinds from growing e-commerce penetration rates and sales. GFH continues to scale up its global logistics platform with its recent acquisitions of the Amazon Spain Portfolio the Michelin distribution facility in Chicago and the current FedEx distribution facility transaction. This will gain exposure to well positioned top credit tenants occupying a variety of mission critical facilities in key locations in North America and Europe. As the world s sec...
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GFH Financial Group (GFH) has announced the acquisition of a US-based warehousing and distribution logistics facility situated in Ohio and fully leased to FedEx in a transaction valued at 100 million. This is part of GFH s logistics and industrial sector investment theme focusing on the acquisition of high quality logistics assets in key distribution hubs to capitalize on the strong tailwinds from growing e-commerce penetration rates and sales. GFH continues to scale up its global logistics platform with its recent acquisitions of the Amazon Spain Portfolio the Michelin distribution facility in Chicago and the current FedEx distribution facility transaction. This will gain exposure to well positioned top credit tenants occupying a variety of mission critical facilities in key locations in North America and Europe. As the world s sec...
Saudi Logistics Services (SAL) a market leading air cargo handler has announced the appointment of Engineer Hesham bin Abdulla Alhussayen as the new acting chief executive officer (CEO). He replaces Omar Hariri who takes the helm at Saudi Ports Authority (Mawani) effective July 1. Announcing the appointment Chairman Fawaz bin Mohammed Al Fawaz said: Alhussayen has gained the trust of the board throughout his time as COO and has over 25 years of experience holding leadership positions at multiple prominent Saudi companies. We see huge possibilities to expand the business and deliver on our strategy. This transitional period SAL will not affect our operations at all and will serve as a new opportunity to enhance SAL s logistics services at all of the Kingdom s main airports he stated. We are confident Alh...
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Saudi Logistics Services (SAL) a market leading air cargo handler has announced the appointment of Engineer Hesham bin Abdulla Alhussayen as the new acting chief executive officer (CEO). He replaces Omar Hariri who takes the helm at Saudi Ports Authority (Mawani) effective July 1. Announcing the appointment Chairman Fawaz bin Mohammed Al Fawaz said: Alhussayen has gained the trust of the board throughout his time as COO and has over 25 years of experience holding leadership positions at multiple prominent Saudi companies. We see huge possibilities to expand the business and deliver on our strategy. This transitional period SAL will not affect our operations at all and will serve as a new opportunity to enhance SAL s logistics services at all of the Kingdom s main airports he stated. We are confident Alh...
Saudi Logistics Services (SAL) said it has teamed up with Sela a full-fledged sports marketing/management firm in the kingdom to provide ground handling services at main airports to support the organization s seasonal entertainment shows and activities especially its year-end events. A major player in the kingdom SAL provides premium ground handling services for multiple airlines at Saudi Arabia s local airports and logistic support with cargo chain solutions. It also connects all means of transportation with regional airports to make a more significant contribution to Vision 2030 and transform the kingdom into a global logistic hub said the statement from SAL. Sela is a leading company in the region and we are excited to utilise all logistic support Sela needs to deliver unique sports and entertainment events in the kingdom su...
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Saudi Logistics Services (SAL) said it has teamed up with Sela a full-fledged sports marketing/management firm in the kingdom to provide ground handling services at main airports to support the organization s seasonal entertainment shows and activities especially its year-end events. A major player in the kingdom SAL provides premium ground handling services for multiple airlines at Saudi Arabia s local airports and logistic support with cargo chain solutions. It also connects all means of transportation with regional airports to make a more significant contribution to Vision 2030 and transform the kingdom into a global logistic hub said the statement from SAL. Sela is a leading company in the region and we are excited to utilise all logistic support Sela needs to deliver unique sports and entertainment events in the kingdom su...
Arden Group a vertically integrated real estate investment management firm has announced the final close of the firm s third fully discretionary equity fund Arden Real Estate Partners III LP at 500 million. Founded in 1989 Arden has acquired approximately 6 billion of properties and asset managed in excess of 11 billion of commercial real estate assets. It was ably supported in the equity financial close by Greenstone Equity Partners the largest fund placement firm in the Middle East by raising capital from its network of GCC-based institutional investors. Arden CEO Craig A. Spencer said: Although the global pandemic slowed fundraising we are pleased that we were able to reach the fund s hard cap exceeding our initial target of 300 million by 200 million or 66% with approximately 60% of the capital raised from institutional investors.&q...
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Arden Group a vertically integrated real estate investment management firm has announced the final close of the firm s third fully discretionary equity fund Arden Real Estate Partners III LP at 500 million. Founded in 1989 Arden has acquired approximately 6 billion of properties and asset managed in excess of 11 billion of commercial real estate assets. It was ably supported in the equity financial close by Greenstone Equity Partners the largest fund placement firm in the Middle East by raising capital from its network of GCC-based institutional investors. Arden CEO Craig A. Spencer said: Although the global pandemic slowed fundraising we are pleased that we were able to reach the fund s hard cap exceeding our initial target of 300 million by 200 million or 66% with approximately 60% of the capital raised from institutional investors.&q...
Australian-based heavy lifting tower crane specialists Marr Contracting (The Men From Marr s) has been awarded the contract to deliver specialised heavy lifting crane services on the construction of the East Rockingham Waste to Energy Project in Western Australia. The A 511 million project located in the Kwinana Industrial Area 40 km south of Perth will be the second large-scale waste to energy (WtE) plant in Australia. With capacity to process 300 000 tonnes of residual waste from non-recyclable commercial and industrial sources every year East Rockingham WtE will deliver a cost-effective waste treatment solution and a vital source of dispatachable renewable energy to the City of Perth. The contract was awarded to Marr Contracting by Spanish infrastructure major Acciona to work with them to develop a lifting strategy and craneage methodology that supported thier modular ...
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Australian-based heavy lifting tower crane specialists Marr Contracting (The Men From Marr s) has been awarded the contract to deliver specialised heavy lifting crane services on the construction of the East Rockingham Waste to Energy Project in Western Australia. The A 511 million project located in the Kwinana Industrial Area 40 km south of Perth will be the second large-scale waste to energy (WtE) plant in Australia. With capacity to process 300 000 tonnes of residual waste from non-recyclable commercial and industrial sources every year East Rockingham WtE will deliver a cost-effective waste treatment solution and a vital source of dispatachable renewable energy to the City of Perth. The contract was awarded to Marr Contracting by Spanish infrastructure major Acciona to work with them to develop a lifting strategy and craneage methodology that supported thier modular ...
Leading Saudi real estate developer Dar Al Arkan has marked a regional first with the introduction of 3D construction printing (3DCP) technology in the kingdom in collaboration with Construction of Buildings on Demand (Cobod) a Danish robot 3D construction printer company. The 3DCP technology will help accelerate the construction work while enhancing safety and reducing wastage and errors. With this revolutionary technology Dar Al Arkan is spearheading the transition of the industry towards advanced and sustainable building practices and complementing the goals of Saudi Vision 2030 to support economic diversification and digitisation. Unlike traditional home-building methods 3DCP cuts the construction time by more than half is more flexible and requires less manpower since it takes only three workers to build one house. This in turn als...
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Leading Saudi real estate developer Dar Al Arkan has marked a regional first with the introduction of 3D construction printing (3DCP) technology in the kingdom in collaboration with Construction of Buildings on Demand (Cobod) a Danish robot 3D construction printer company. The 3DCP technology will help accelerate the construction work while enhancing safety and reducing wastage and errors. With this revolutionary technology Dar Al Arkan is spearheading the transition of the industry towards advanced and sustainable building practices and complementing the goals of Saudi Vision 2030 to support economic diversification and digitisation. Unlike traditional home-building methods 3DCP cuts the construction time by more than half is more flexible and requires less manpower since it takes only three workers to build one house. This in turn als...
Leading Omani bank Sohar International (formerly Bank Sohar) has introduced escrow accounts for the country s real estate sector as part of its efforts to boost investor confidence whilst facilitating financial services for developers. The regulations under Escrow help control and provide confidence to the buyer especially for those investing in under-construction projects. The developer too is ensured of such comfort. With several commercial tourist and residential projects underway and in-pipeline in the sultanate escrow is an essential tool to provide stimulus to the burgeoning sector as it protects the public by minimizing the risk prevalent in any real estate purchase said the statement from Sohar International. This financial solution comes in line with a royal decree promulgating the law on escrow account for real estate development and decision issued by th...
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Leading Omani bank Sohar International (formerly Bank Sohar) has introduced escrow accounts for the country s real estate sector as part of its efforts to boost investor confidence whilst facilitating financial services for developers. The regulations under Escrow help control and provide confidence to the buyer especially for those investing in under-construction projects. The developer too is ensured of such comfort. With several commercial tourist and residential projects underway and in-pipeline in the sultanate escrow is an essential tool to provide stimulus to the burgeoning sector as it protects the public by minimizing the risk prevalent in any real estate purchase said the statement from Sohar International. This financial solution comes in line with a royal decree promulgating the law on escrow account for real estate development and decision issued by th...
Naqel Express Saudi Arabia s leading express logistics and supply chain company with the largest seamless network has officially opened its gateway facilities at King Abdulaziz International Airport (KAIA) as well as its new Pharma and Cold Chain warehouse facilities in Jeddah. The facilities were inaugurated earlier this week by the President of Saudi Post and Chairman of Naqel Anef Bin Ahmad Abanomi in the presence of senior company officials. These are part of new investments of more than SR200 million ( 53 million) being made by Naqel in the Western Province of Saudi Arabia to further facilitate imports and trading. Commenting on these developments Engineer Ammar Al Harbi the Director of Gateway at Naqel Express said: With this expansion we have strengthened our handling and clearance capabilities in all three major airports in Saudi Arabia. These airport faci...
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Naqel Express Saudi Arabia s leading express logistics and supply chain company with the largest seamless network has officially opened its gateway facilities at King Abdulaziz International Airport (KAIA) as well as its new Pharma and Cold Chain warehouse facilities in Jeddah. The facilities were inaugurated earlier this week by the President of Saudi Post and Chairman of Naqel Anef Bin Ahmad Abanomi in the presence of senior company officials. These are part of new investments of more than SR200 million ( 53 million) being made by Naqel in the Western Province of Saudi Arabia to further facilitate imports and trading. Commenting on these developments Engineer Ammar Al Harbi the Director of Gateway at Naqel Express said: With this expansion we have strengthened our handling and clearance capabilities in all three major airports in Saudi Arabia. These airport faci...
Construction disputes in the Middle East surged by 38 per cent in 2020 due to several factors of which the biggest one was Covid-19 which created significant impacts including restricted movement of labour supply chain delays and even suspension of projects in major GCC economies said a report. Covid-19 created significant impacts including restricted movement of labour additional health and safety measures supply chain delays and challenges across the region and suspension of projects in areas such as Saudi Arabia and Kuwait according to Arcadis a leading global design and consultancy firm for natural and built assets. This year s Arcadis report focuses on the best way to combat construction project issues: preparation. With the right tools in place organisations can prevent issues from becoming full-blown construction disputes. Secondly Arabtec ...
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Construction disputes in the Middle East surged by 38 per cent in 2020 due to several factors of which the biggest one was Covid-19 which created significant impacts including restricted movement of labour supply chain delays and even suspension of projects in major GCC economies said a report. Covid-19 created significant impacts including restricted movement of labour additional health and safety measures supply chain delays and challenges across the region and suspension of projects in areas such as Saudi Arabia and Kuwait according to Arcadis a leading global design and consultancy firm for natural and built assets. This year s Arcadis report focuses on the best way to combat construction project issues: preparation. With the right tools in place organisations can prevent issues from becoming full-blown construction disputes. Secondly Arabtec ...
Naqel Express a leading express logistics and supply chain company in Saudi Arabia with the largest seamless network is powering ahead with a raft of initiatives in the Kingdom and globally. In alignment with the Kingdom s Vision 2030 initiative Naqel has unleashed new investments of over SR200 million ( 53 million) in the western province of Saudi Arabia to further facilitate imports and trading with the three continents connecting the Kingdom. Accordingly Anef Bin Ahmad Abanomi President of Saudi Post and Chairman of Naqel Express has inaugurated Naqel s new gateway facilities at King Abdulaziz International Airport (KAIA) and new pharma and cold chain warehouse facilities in Jeddah. Commenting on these developments Eng Ammar Al Harbi Director of Gateway Naqel Express says: With this expansion we have strengthened our handling and clearance capabilit...
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Naqel Express a leading express logistics and supply chain company in Saudi Arabia with the largest seamless network is powering ahead with a raft of initiatives in the Kingdom and globally. In alignment with the Kingdom s Vision 2030 initiative Naqel has unleashed new investments of over SR200 million ( 53 million) in the western province of Saudi Arabia to further facilitate imports and trading with the three continents connecting the Kingdom. Accordingly Anef Bin Ahmad Abanomi President of Saudi Post and Chairman of Naqel Express has inaugurated Naqel s new gateway facilities at King Abdulaziz International Airport (KAIA) and new pharma and cold chain warehouse facilities in Jeddah. Commenting on these developments Eng Ammar Al Harbi Director of Gateway Naqel Express says: With this expansion we have strengthened our handling and clearance capabilit...
A poll of UAE-based construction leaders carried out by the country s largest business group has found undervaluation of actual work in progress rather than delayed payment is seen as the sector s biggest challenge. According to the British Business Group (BBG) survey covering more than 70 construction heavyweights during a sold-out event in Dubai 67 per cent agrees works need to be valued more accurately and on a more realistic basis for the health of the industry. Of those polled 69 per cent also believes there is a short term approach and a lack of consideration of the whole project life cycle when making decisions on capital projects during the construction phase. Cynthia Corby Audit & Assurance COO and Middle East construction lead for Deloitte said: It is encouraging to see the majority of people agreed with what we believe is one of the princi...
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A poll of UAE-based construction leaders carried out by the country s largest business group has found undervaluation of actual work in progress rather than delayed payment is seen as the sector s biggest challenge. According to the British Business Group (BBG) survey covering more than 70 construction heavyweights during a sold-out event in Dubai 67 per cent agrees works need to be valued more accurately and on a more realistic basis for the health of the industry. Of those polled 69 per cent also believes there is a short term approach and a lack of consideration of the whole project life cycle when making decisions on capital projects during the construction phase. Cynthia Corby Audit & Assurance COO and Middle East construction lead for Deloitte said: It is encouraging to see the majority of people agreed with what we believe is one of the princi...
GAC a global provider of integrated shipping logistics and marine services has announced that its Qatari unit has broken ground on the new 27 000 sq m multi-user contract logistics facility in the Ras Bufontas Free Zone. It follows the signing of an agreement between GAC and Qatar Free Zones Authority (QFZA) in February this year. It will be built from sustainable materials partly fueled by solar power have several energy-saving features and use recycled water in its operations. The project is expected to be completed by early 2022. The groundbreaking ceremony was attended by Anders Bengtcén Swedish Ambassador to Qatar the QFZA chief executive Lim Meng Hui GAC s local partner Ismail Tahboub GAC Group Executive Chairman & Trustee Björn Engblom GAC Group Vice President - Middle East Fredrik Nyström in aaddition to Arabian Constru...
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GAC a global provider of integrated shipping logistics and marine services has announced that its Qatari unit has broken ground on the new 27 000 sq m multi-user contract logistics facility in the Ras Bufontas Free Zone. It follows the signing of an agreement between GAC and Qatar Free Zones Authority (QFZA) in February this year. It will be built from sustainable materials partly fueled by solar power have several energy-saving features and use recycled water in its operations. The project is expected to be completed by early 2022. The groundbreaking ceremony was attended by Anders Bengtcén Swedish Ambassador to Qatar the QFZA chief executive Lim Meng Hui GAC s local partner Ismail Tahboub GAC Group Executive Chairman & Trustee Björn Engblom GAC Group Vice President - Middle East Fredrik Nyström in aaddition to Arabian Constru...
Iraq has awarded a key contract for the construction of a civilian airport in the capital of the southern oil-rich Dhi Qar governorate to a Chinese group. The new Nasiriyah airport will replace the military base reported the official Iraqi news agency. The foundation stone for the project was laid by Iraqi Prime Minister Mustafa Al Kadhimi who termed it as an attractive tourism and investment project for the Opec member Iraq. The Nasiriyah Airport which will be able to handle 750 000 passengers per annum is set to be completed within a three-year period stated the report. The scope of work includes the construction of a cargo building as well as roads linking the airport to the city s town centre it added. ...
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Iraq has awarded a key contract for the construction of a civilian airport in the capital of the southern oil-rich Dhi Qar governorate to a Chinese group. The new Nasiriyah airport will replace the military base reported the official Iraqi news agency. The foundation stone for the project was laid by Iraqi Prime Minister Mustafa Al Kadhimi who termed it as an attractive tourism and investment project for the Opec member Iraq. The Nasiriyah Airport which will be able to handle 750 000 passengers per annum is set to be completed within a three-year period stated the report. The scope of work includes the construction of a cargo building as well as roads linking the airport to the city s town centre it added. ...
Danish robot 3D construction printer company Cobod International said it had made the 3D construction printers that were behind Europe s first one- two- and three-floor buildings among others. Cobod recently marked its entry into the US market via a partnership with Printed Farms in Florida and is now expanding its footprint in the US based on the lack of affordable housing. The new 3D-printed house project is a single-family house with three bedrooms and two baths Habitat and the city of Tempe AZ see this as a possible solution to the lack of affordable housing. In the face of an acute affordable housing shortage Habitat is looking for scalable affordable home-ownership solutions - a game changer. The lack of affordable housing in the Phoenix metro is at an all-time high and Habitat continues to explore innovat...
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Danish robot 3D construction printer company Cobod International said it had made the 3D construction printers that were behind Europe s first one- two- and three-floor buildings among others. Cobod recently marked its entry into the US market via a partnership with Printed Farms in Florida and is now expanding its footprint in the US based on the lack of affordable housing. The new 3D-printed house project is a single-family house with three bedrooms and two baths Habitat and the city of Tempe AZ see this as a possible solution to the lack of affordable housing. In the face of an acute affordable housing shortage Habitat is looking for scalable affordable home-ownership solutions - a game changer. The lack of affordable housing in the Phoenix metro is at an all-time high and Habitat continues to explore innovat...
The logistics and supply chain startup Trukkin has secured an investment round of SR26 million ( 7 million) for its Series A round. The round was led by Saudi based Emkan Capital with the participation from Impact46 Seed Fund Taya Group and other strategic investors. Founded in 2017 by former Barclays banker Janardan Dalmia Trukkin is a leading aggregator that digitizes the process of matching shippers with truckers to bring about transparency reliability and efficiency to the logistics industry. Trukkin also works towards building fintech solutions for payments insurance and financial services. These solutions lay the groundwork for more financial inclusion for the unbanked and increase much needed transparency and efficiency for suppliers. I m very proud of the team and the growth we ve achieved over the course of the last year as we expanded into Pakistan and grew revenues despite the difficult environm...
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The logistics and supply chain startup Trukkin has secured an investment round of SR26 million ( 7 million) for its Series A round. The round was led by Saudi based Emkan Capital with the participation from Impact46 Seed Fund Taya Group and other strategic investors. Founded in 2017 by former Barclays banker Janardan Dalmia Trukkin is a leading aggregator that digitizes the process of matching shippers with truckers to bring about transparency reliability and efficiency to the logistics industry. Trukkin also works towards building fintech solutions for payments insurance and financial services. These solutions lay the groundwork for more financial inclusion for the unbanked and increase much needed transparency and efficiency for suppliers. I m very proud of the team and the growth we ve achieved over the course of the last year as we expanded into Pakistan and grew revenues despite the difficult environm...
dnata a leading global air and travel services provider has partnered with Kale Logistics Solutions to develop a next-generation e-commerce platform for the cargo community in the UAE. The partnership will see the two companies take dnata s existing platform Calogi to a new level to provide best-in-class one-stop services including appointment and customs services management to customers through advanced digital solutions. dnata launched Calogi as a game-changer e-commerce platform in 2008 in Dubai. It offers a comprehensive highly integrated cost-effective trading platform to air cargo supply chain stakeholders including general sales agents airlines forwarders third-party logistics providers and ground handlers. Built mainly for small-to-medium enterprises (SMEs) Calogi enables the cargo community to seamlessly trade in a paper-free environment. dnata s next-generation community platform will deliver additiona...
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dnata a leading global air and travel services provider has partnered with Kale Logistics Solutions to develop a next-generation e-commerce platform for the cargo community in the UAE. The partnership will see the two companies take dnata s existing platform Calogi to a new level to provide best-in-class one-stop services including appointment and customs services management to customers through advanced digital solutions. dnata launched Calogi as a game-changer e-commerce platform in 2008 in Dubai. It offers a comprehensive highly integrated cost-effective trading platform to air cargo supply chain stakeholders including general sales agents airlines forwarders third-party logistics providers and ground handlers. Built mainly for small-to-medium enterprises (SMEs) Calogi enables the cargo community to seamlessly trade in a paper-free environment. dnata s next-generation community platform will deliver additiona...
The possible delisting of Dubai-based Damac Real Estate Development by its key shareholder is credit neutral according to S&P Global Ratings. Damac s founding shareholder and chairman Hussain Sajwani who currently owns 72.215% of the company intends to take it private by buying out the minority shares. As a consequence of his offer Sajwani resigned as the chairman of Damac with immediate effect. We understand that delisting will not have any effect on Damac s balance sheet since the consideration will be paid by the acquirer. We also note that Damac cannot distribute dividends due to restrictions under its bond indenture stated S&P Global Ratings. Therefore we expect Damac s credit metrics will be unchanged in line with the B rating and negative outlook. The off...
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The possible delisting of Dubai-based Damac Real Estate Development by its key shareholder is credit neutral according to S&P Global Ratings. Damac s founding shareholder and chairman Hussain Sajwani who currently owns 72.215% of the company intends to take it private by buying out the minority shares. As a consequence of his offer Sajwani resigned as the chairman of Damac with immediate effect. We understand that delisting will not have any effect on Damac s balance sheet since the consideration will be paid by the acquirer. We also note that Damac cannot distribute dividends due to restrictions under its bond indenture stated S&P Global Ratings. Therefore we expect Damac s credit metrics will be unchanged in line with the B rating and negative outlook. The off...
Fujairah Terminals said it has achieved a major milestone in its long-term AED1 billion ( 272.2 million) port development programme with the completion of the project expansion works related to multi-purpose terminal facilities. Fujairah Terminals is a wholly-owned unit of Abu Dhabi Ports the owner and operator of 11 ports and terminals in the UAE and Guinea facilitating global trade and building capacity. With this expansion the terminal s general cargo throughput has now increased to 1.3 million tonnes in addition to the development of multi-purpose area of 25 000 sq m for general cargo and Ro-Ro services. Also the container capacity has risen to 720 000 TEUs with a total of 110 000 sqm of container terminal area. In addition the quay wall has been extended from 760 to 1000 metres and the approach has been deepened from 12 metres to 15 ...
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Fujairah Terminals said it has achieved a major milestone in its long-term AED1 billion ( 272.2 million) port development programme with the completion of the project expansion works related to multi-purpose terminal facilities. Fujairah Terminals is a wholly-owned unit of Abu Dhabi Ports the owner and operator of 11 ports and terminals in the UAE and Guinea facilitating global trade and building capacity. With this expansion the terminal s general cargo throughput has now increased to 1.3 million tonnes in addition to the development of multi-purpose area of 25 000 sq m for general cargo and Ro-Ro services. Also the container capacity has risen to 720 000 TEUs with a total of 110 000 sqm of container terminal area. In addition the quay wall has been extended from 760 to 1000 metres and the approach has been deepened from 12 metres to 15 ...
Renault Trucks a leading provider of a range of commercial vehicles for distribution heavy construction and the long-haul segment has announced the delivery of 10 units of K 480 heavy-duty construction models to Fujairah-based company Al Jadawel Land Transport. The ten Renault Trucks models are part of a total fleet size of 98 and Al Jadawel Land Transport plans to turn the whole fleet to Renault Trucks by end of next year. These Renault Trucks K 480 Tractor Head 6x4 models guarantee the highest levels of driver comfort reliability and fuel efficiency it stated. They are equipped with a range of features that are designed to optimise productivity minimise downtime reduce operation costs and maximise profitability. Designed to operate in extreme conditions their outstanding technical capabilities meet and exceed cust...
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Renault Trucks a leading provider of a range of commercial vehicles for distribution heavy construction and the long-haul segment has announced the delivery of 10 units of K 480 heavy-duty construction models to Fujairah-based company Al Jadawel Land Transport. The ten Renault Trucks models are part of a total fleet size of 98 and Al Jadawel Land Transport plans to turn the whole fleet to Renault Trucks by end of next year. These Renault Trucks K 480 Tractor Head 6x4 models guarantee the highest levels of driver comfort reliability and fuel efficiency it stated. They are equipped with a range of features that are designed to optimise productivity minimise downtime reduce operation costs and maximise profitability. Designed to operate in extreme conditions their outstanding technical capabilities meet and exceed cust...
The third Construction Technology Festival (CTF) yesterday (June 2) ended on a successful note with over 300 industry experts taking part. The highly-anticipated event was the industry s first in-person conference and exhibition in 2021 welcoming over 300 attendees said the organisers. The two-day event hosted on June 1 and 2 at the Address Hotel Dubai Marina saw guests from the Architecture Engineering and Construction (AEC) sector share new digital methods that help design build and operate assets better and deliver projects more efficiently quickly sustainably and safely. Attendees were delighted to meet face-to-face for the first time in months and enjoyed the opportunity to network in person again reconnecting with current peers while expanding their network with new connections they stated. Maged El Hawary ...
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The third Construction Technology Festival (CTF) yesterday (June 2) ended on a successful note with over 300 industry experts taking part. The highly-anticipated event was the industry s first in-person conference and exhibition in 2021 welcoming over 300 attendees said the organisers. The two-day event hosted on June 1 and 2 at the Address Hotel Dubai Marina saw guests from the Architecture Engineering and Construction (AEC) sector share new digital methods that help design build and operate assets better and deliver projects more efficiently quickly sustainably and safely. Attendees were delighted to meet face-to-face for the first time in months and enjoyed the opportunity to network in person again reconnecting with current peers while expanding their network with new connections they stated. Maged El Hawary ...
Katerra - a construction startup that had the financial backing of a number of top investors including SoftBank Group - is shutting down reported Bloomberg citing sources. The company had a key presence in Saudi Arabia in addition to the US and India. Katerra founded in 2015 had promised to shake up the construction industry with its efficient factories prefab parts and modular construction units. In February of last year Katerra s marketing materials touted 8 000 employees across the globe. With major cash infusions from SoftBank and others Katerra grew quickly in part by acquiring smaller construction companies said the source familiar with the matter. But integrating those ...
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Katerra - a construction startup that had the financial backing of a number of top investors including SoftBank Group - is shutting down reported Bloomberg citing sources. The company had a key presence in Saudi Arabia in addition to the US and India. Katerra founded in 2015 had promised to shake up the construction industry with its efficient factories prefab parts and modular construction units. In February of last year Katerra s marketing materials touted 8 000 employees across the globe. With major cash infusions from SoftBank and others Katerra grew quickly in part by acquiring smaller construction companies said the source familiar with the matter. But integrating those ...
Construction has begun on a first-of-its-kind electric vehicle (EV) battery R&D centre and pilot line in Slovakia integrating proprietary R&D activities together with battery cell-manufacturing capabilities under one roof. Set to be operational in early 2022 the new battery centre is being built by leading European electric vehicle battery developer and producer InoBat Auto (InoBat) who is developing premium batteries which can be quickly and efficiently tailored to meet the specifications of any electric vehicle. Powered by green energy through grid electricity and solar panels the 290 000 sq ft (27 000 sq m) site will create up to 150 skilled jobs and will include a technical training centre modern office space research labs and manufacturing line. InoBat who purchased the existing brownfield site to reduce the need for carbon intensive construction methods will use the new battery ...
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Construction has begun on a first-of-its-kind electric vehicle (EV) battery R&D centre and pilot line in Slovakia integrating proprietary R&D activities together with battery cell-manufacturing capabilities under one roof. Set to be operational in early 2022 the new battery centre is being built by leading European electric vehicle battery developer and producer InoBat Auto (InoBat) who is developing premium batteries which can be quickly and efficiently tailored to meet the specifications of any electric vehicle. Powered by green energy through grid electricity and solar panels the 290 000 sq ft (27 000 sq m) site will create up to 150 skilled jobs and will include a technical training centre modern office space research labs and manufacturing line. InoBat who purchased the existing brownfield site to reduce the need for carbon intensive construction methods will use the new battery ...
The Red Sea Development Company (TRSDC) the developer behind the world s most ambitious regenerative tourism project said it has achieved an overall score of 84 out of 100 in its first ever ESG-assessment and benchmark exercise by Global Real Estate Sustainability Benchmark (GRESB). GRESB assessed The Red Sea Project against standardized targets for Environmental Social and Governance. It awarded the high score in recognition of TRSDC s strong environmental governance structure and measures introduced to integrate environmental protection and enhancement. As part of the overall score GRESB awarded TRSDC an outstanding 49 out of 51 in the Environmental category. This greatly exceeds GRESB s average score of 34 out of 51 and recognizes the robust measures in place to improve the integration of environmental considerations at TRSDC. ...
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The Red Sea Development Company (TRSDC) the developer behind the world s most ambitious regenerative tourism project said it has achieved an overall score of 84 out of 100 in its first ever ESG-assessment and benchmark exercise by Global Real Estate Sustainability Benchmark (GRESB). GRESB assessed The Red Sea Project against standardized targets for Environmental Social and Governance. It awarded the high score in recognition of TRSDC s strong environmental governance structure and measures introduced to integrate environmental protection and enhancement. As part of the overall score GRESB awarded TRSDC an outstanding 49 out of 51 in the Environmental category. This greatly exceeds GRESB s average score of 34 out of 51 and recognizes the robust measures in place to improve the integration of environmental considerations at TRSDC. ...
YK Real Estate Investments & Developments Company has announced the launch of Garnet a 64-apartment building located in the picturesque Reef Island in Bahrain. The building offers studio one- and two-bedroom apartments all fully furnished to the highest standards said the statement from YK Real Estate Investments & Developments. Garnet has been designed to provide maximum comfort with a wide array of amenities including a cinema room gym kids play area study room relaxation lounge and many outdoor areas that can be utilised it stated. Executive Director of YK Real Estate Investments and Developments Company Hala Almoayyed said: We are incredibly proud of Garnet. We have taken our time to ensure the building is completed to the highest standards ensuring those who live there enjoy the best apartment building possible. div...
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YK Real Estate Investments & Developments Company has announced the launch of Garnet a 64-apartment building located in the picturesque Reef Island in Bahrain. The building offers studio one- and two-bedroom apartments all fully furnished to the highest standards said the statement from YK Real Estate Investments & Developments. Garnet has been designed to provide maximum comfort with a wide array of amenities including a cinema room gym kids play area study room relaxation lounge and many outdoor areas that can be utilised it stated. Executive Director of YK Real Estate Investments and Developments Company Hala Almoayyed said: We are incredibly proud of Garnet. We have taken our time to ensure the building is completed to the highest standards ensuring those who live there enjoy the best apartment building possible. div...
Leading Egyptian real estate developer Inertia said it has joined hands with PayTabs Egypt and valU two key NBFI subsidiaries of financial services group EFG Hermes to help its clients process payments online. This partnership marks the Egyptian real estate sector s first venture into digital payment solutions and efforts to accelerate contactless real estate sales during the pandemic. Inertia said it will enable the group s clients to process payments online including the scheduled maintenance and unit reservation costs processed through PayTabs Egypt s payment gateway. Additionally valU aims to provide ultimate affordability to Inertia s clients with its home improvement financing proposition where financing facilities extend to include property finishing and furnishing costs backed with easy installment payment plans that may range over 12 ...
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Leading Egyptian real estate developer Inertia said it has joined hands with PayTabs Egypt and valU two key NBFI subsidiaries of financial services group EFG Hermes to help its clients process payments online. This partnership marks the Egyptian real estate sector s first venture into digital payment solutions and efforts to accelerate contactless real estate sales during the pandemic. Inertia said it will enable the group s clients to process payments online including the scheduled maintenance and unit reservation costs processed through PayTabs Egypt s payment gateway. Additionally valU aims to provide ultimate affordability to Inertia s clients with its home improvement financing proposition where financing facilities extend to include property finishing and furnishing costs backed with easy installment payment plans that may range over 12 ...
A further five stalled real estate projects in Bahrain worth millions of dinars have been referred to a judicial committee in an effort to protect the interest of buyers and other stakeholders reported Gulf Daily News our sister publication. For further details visit https://www.gdnonline.com ...
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A further five stalled real estate projects in Bahrain worth millions of dinars have been referred to a judicial committee in an effort to protect the interest of buyers and other stakeholders reported Gulf Daily News our sister publication. For further details visit https://www.gdnonline.com ...
Etihad Rail the developer of the UAE s national railway network has signed an agreement with Transportr a leading company in digital freight services to develop integrated digital logistics services. Etihad Rail and Transportr will work together to enable the streamlining of service provision in the logistics sector through digital solutions such as booking tracking and multi-modal connectivity that will provide a complete digital rail freight solution that will complement Etihad Rail s range of new and sophisticated technologies that are convenient and efficient. Ahmed Al Hashemi Executive Director - Commercial at Etihad Rail said: Etihad Rail is at the forefront of the industry in developing innovative solutions for its customers. Through integrating state-of-the-art technology into our network we are creating a rail service that is new modern and cost effective bringing significant benefits to the wider local and regio...
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Etihad Rail the developer of the UAE s national railway network has signed an agreement with Transportr a leading company in digital freight services to develop integrated digital logistics services. Etihad Rail and Transportr will work together to enable the streamlining of service provision in the logistics sector through digital solutions such as booking tracking and multi-modal connectivity that will provide a complete digital rail freight solution that will complement Etihad Rail s range of new and sophisticated technologies that are convenient and efficient. Ahmed Al Hashemi Executive Director - Commercial at Etihad Rail said: Etihad Rail is at the forefront of the industry in developing innovative solutions for its customers. Through integrating state-of-the-art technology into our network we are creating a rail service that is new modern and cost effective bringing significant benefits to the wider local and regio...
Azizi Developments a leading private developer in the UAE has celebrated its ground-breaking and begun the construction of the fourth phase of Riviera its flagship master planned French Mediterranean-inspired lifestyle community situated in MBR City Azizi s fourth phase of Riviera is built at a project cost of AED4 billion ( 1.09 billion). Riviera Phase 4 will comprise 5 061 units featuring around 2 606 studios 1 579 one-bedroom and 876 two-bedroom homes. All buildings will come with fully equipped gyms two swimming pools saunas steam rooms and children s play areas and are surrounded by vast green open spaces and other amenities. Construction at Riviera is progressing swiftly with the first phase now being 85% complete the second phase having reached more than 70% and the third phase already being over 40% constructed. The f...
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Azizi Developments a leading private developer in the UAE has celebrated its ground-breaking and begun the construction of the fourth phase of Riviera its flagship master planned French Mediterranean-inspired lifestyle community situated in MBR City Azizi s fourth phase of Riviera is built at a project cost of AED4 billion ( 1.09 billion). Riviera Phase 4 will comprise 5 061 units featuring around 2 606 studios 1 579 one-bedroom and 876 two-bedroom homes. All buildings will come with fully equipped gyms two swimming pools saunas steam rooms and children s play areas and are surrounded by vast green open spaces and other amenities. Construction at Riviera is progressing swiftly with the first phase now being 85% complete the second phase having reached more than 70% and the third phase already being over 40% constructed. The f...
The global construction equipment rental market is poised for tremendous growth mainly driven by the robust adoption of technologically integrated equipment in rental fleets in key markets of North America Europe and Asia Pacific according to a report by Graphical Research. Technological innovations including telematics and driver assistance systems will further propel the business outlook. With the expanding consumer base of earthmoving & roadbuilding equipment in the US Canada and Mexico loaders will witness bullish demand in the region. The trend for loading materials such as clearing rubble trucks and digging will bolster the product adoption to move and lift heavy objects. The North America construction equipment rental market share from the loaders subsegment will grow at a significant rate in the next few years partly attributed to the innate ab...
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The global construction equipment rental market is poised for tremendous growth mainly driven by the robust adoption of technologically integrated equipment in rental fleets in key markets of North America Europe and Asia Pacific according to a report by Graphical Research. Technological innovations including telematics and driver assistance systems will further propel the business outlook. With the expanding consumer base of earthmoving & roadbuilding equipment in the US Canada and Mexico loaders will witness bullish demand in the region. The trend for loading materials such as clearing rubble trucks and digging will bolster the product adoption to move and lift heavy objects. The North America construction equipment rental market share from the loaders subsegment will grow at a significant rate in the next few years partly attributed to the innate ab...
The World Logistics Passport (WLP) a unique loyalty programme established to increase trading opportunities between emerging markets is expanding in Vietnam. The Vietnam Logistics Business Association (VLA) a leading trade body has registered as a partner and signing a framework agreement. Vietnam s status as a WLP Hub builds on the signing of a Multimodal Trade Cooperation Agreement between Dubai s Ports Customs and Free Zone Corporation (PCFC) and the VLA in 2019 a statement said. Vietnam is the fifth country in Asia to commit to the WLP after Thailand Indonesia Kazakhstan and India. More than 10 countries are now part of the major policy initiative with global trading Mega-Hubs including Brazil India and South Africa amongst others. Major multinational corporations including UPS Pfizer Sony Johnson & Johnson and LG have also signed up. /div...
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The World Logistics Passport (WLP) a unique loyalty programme established to increase trading opportunities between emerging markets is expanding in Vietnam. The Vietnam Logistics Business Association (VLA) a leading trade body has registered as a partner and signing a framework agreement. Vietnam s status as a WLP Hub builds on the signing of a Multimodal Trade Cooperation Agreement between Dubai s Ports Customs and Free Zone Corporation (PCFC) and the VLA in 2019 a statement said. Vietnam is the fifth country in Asia to commit to the WLP after Thailand Indonesia Kazakhstan and India. More than 10 countries are now part of the major policy initiative with global trading Mega-Hubs including Brazil India and South Africa amongst others. Major multinational corporations including UPS Pfizer Sony Johnson & Johnson and LG have also signed up. /div...
The Department of Municipalities and Transport- Abu Dhabi said real estate transactions in the emirate amounted to AED11.5 billion ( 3.1 billion) during the first three months of 2021. The recorded value included approximately 3 847 lands buildings and unit deals. According to department s first report this year the value of real estate transactions amounted to around AED5 billion comprising 1 755 transactions while the value of mortgages exceeded AED6.5 billion generated from 2 092 transactions. Al Reem Island came in the first place with the highest value in terms of total sales at about (AED 1.6 billion) followed by Abu Dhabi Island with (AED 907 million). Yas Island came in third place in terms of total sales (AED 649 million) followed by Saadiyat Island (AED 446 million) Khalifa City (AED 225 million) Al Raha Be...
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The Department of Municipalities and Transport- Abu Dhabi said real estate transactions in the emirate amounted to AED11.5 billion ( 3.1 billion) during the first three months of 2021. The recorded value included approximately 3 847 lands buildings and unit deals. According to department s first report this year the value of real estate transactions amounted to around AED5 billion comprising 1 755 transactions while the value of mortgages exceeded AED6.5 billion generated from 2 092 transactions. Al Reem Island came in the first place with the highest value in terms of total sales at about (AED 1.6 billion) followed by Abu Dhabi Island with (AED 907 million). Yas Island came in third place in terms of total sales (AED 649 million) followed by Saadiyat Island (AED 446 million) Khalifa City (AED 225 million) Al Raha Be...
Marr Contracting (The Men from Marr s) has partnered with Mirvac as part of an international team including Robert Bird Group and critical infrastructure specialists Kordia Solutions to dismantle the former - TCN-9 TX transmission tower one of highest and most recognisable structures in Sydney Australia. World leaders in the design and delivery of heavy lift luffing tower cranes and heavy lifting services Marr Contracting has more than 90 years experience working on large-scale construction projects in Australia and around the world. Their expertise spans the large-scale construction mining oil and gas power nuclear major transport infrastructure technology and marine sectors. Mirvac is an Australian Securities Exchange (ASX) top 50 company and one of its most innovative property groups. Marr Contracting said the much ant...
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Marr Contracting (The Men from Marr s) has partnered with Mirvac as part of an international team including Robert Bird Group and critical infrastructure specialists Kordia Solutions to dismantle the former - TCN-9 TX transmission tower one of highest and most recognisable structures in Sydney Australia. World leaders in the design and delivery of heavy lift luffing tower cranes and heavy lifting services Marr Contracting has more than 90 years experience working on large-scale construction projects in Australia and around the world. Their expertise spans the large-scale construction mining oil and gas power nuclear major transport infrastructure technology and marine sectors. Mirvac is an Australian Securities Exchange (ASX) top 50 company and one of its most innovative property groups. Marr Contracting said the much ant...
DSV Panalpina a global transport and logistics company and Kuwait-based Agility have signed an agreement for DSV to acquire Agility s Global Integrated Logistics (GIL) business in an all-share deal with an equity value of GIL of 4.1 billion. The acquisition which aims to create a top-three global freight forwarder based on revenues will be an all-share transaction and closing is expected in the third quarter of 2021. Agility will become the second largest shareholder in DSV with an approximate 8% stake in the combined company. Agility and DSV have reached an agreement that DSV will acquire Agility s stand-alone GIL business in an all-share transaction. DSV will issue 19 304 348 shares representing approximately 8.0% of all post-transaction outstanding shares of DSV. The combination of DSV and GIL will fortify DSV s position as a leading global transport and logistics company with a combined pro forma revenue of ...
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DSV Panalpina a global transport and logistics company and Kuwait-based Agility have signed an agreement for DSV to acquire Agility s Global Integrated Logistics (GIL) business in an all-share deal with an equity value of GIL of 4.1 billion. The acquisition which aims to create a top-three global freight forwarder based on revenues will be an all-share transaction and closing is expected in the third quarter of 2021. Agility will become the second largest shareholder in DSV with an approximate 8% stake in the combined company. Agility and DSV have reached an agreement that DSV will acquire Agility s stand-alone GIL business in an all-share transaction. DSV will issue 19 304 348 shares representing approximately 8.0% of all post-transaction outstanding shares of DSV. The combination of DSV and GIL will fortify DSV s position as a leading global transport and logistics company with a combined pro forma revenue of ...
Dubai has recorded a total of 11 753 sales transactions worth AED25.15 billion ( 6.8 billion) for the first three months of the year up 15 per cent over the same period in 2020 according to the 13th edition of Mo asher Dubai s official sales price index launched by Dubai Land Department (DLD) in cooperation with Property Finder. In total Q1 real estate sales transaction figures were 6 percent more than the previous quarter with the secondary properties showing a 16 percent jump while the off-plan properties sales figures fell 7 percent. When compared to Q1 2020 Dubai had registered 70 percent more sales of secondary properties while the off-plan properties sales plunged 29 percent stated the report. According to DLD report a record number of real estate sales transactions over 16 months was reported in March with 4 643 transactions worth AED10.93 billi...
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Dubai has recorded a total of 11 753 sales transactions worth AED25.15 billion ( 6.8 billion) for the first three months of the year up 15 per cent over the same period in 2020 according to the 13th edition of Mo asher Dubai s official sales price index launched by Dubai Land Department (DLD) in cooperation with Property Finder. In total Q1 real estate sales transaction figures were 6 percent more than the previous quarter with the secondary properties showing a 16 percent jump while the off-plan properties sales figures fell 7 percent. When compared to Q1 2020 Dubai had registered 70 percent more sales of secondary properties while the off-plan properties sales plunged 29 percent stated the report. According to DLD report a record number of real estate sales transactions over 16 months was reported in March with 4 643 transactions worth AED10.93 billi...
GFH Financial Group has announced that its UK subsidiary Roebuck Asset Management has concluded an off-market sale of Accolade Park to Tritax Big Box REIT for 123 million. Accolade Park is a prime logistics centre in the UK comprising 875 000 sq ft located in Avonmouth which is the principal logistics and manufacturing area for the South West of the country centred around the Port of Bristol. The sale marks the end of an extremely successful hold period for Roebuck which had acquired the asset for 84 million in May 2017 on behalf of a consortium of institutional Korean investors. The robust income and significant value increase provided the investors with a post-tax IRR of 20% well in advance of the target business plan for such a core asset. During the hold period Roebuck has completed a number of acquisitions with Korean & other Asian ...
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GFH Financial Group has announced that its UK subsidiary Roebuck Asset Management has concluded an off-market sale of Accolade Park to Tritax Big Box REIT for 123 million. Accolade Park is a prime logistics centre in the UK comprising 875 000 sq ft located in Avonmouth which is the principal logistics and manufacturing area for the South West of the country centred around the Port of Bristol. The sale marks the end of an extremely successful hold period for Roebuck which had acquired the asset for 84 million in May 2017 on behalf of a consortium of institutional Korean investors. The robust income and significant value increase provided the investors with a post-tax IRR of 20% well in advance of the target business plan for such a core asset. During the hold period Roebuck has completed a number of acquisitions with Korean & other Asian ...
A total of 6 590 real estate transactions in Dubai were recorded in March valued at about AED23 billion ( 6.26 billion) according to the real estate bulletin issued by Dubai Land Department (DLD) under the name Real Estate Updates . There was a 43 percent growth in the number of deals while its value grew by 40 percent compared to March last year. The DLD real estate bulletin also noted that last month it had recorded the second highest number of real estate transactions since February 2017. The bulletin showed that real estate transactions in Q1 achieved a significant growth of 27 percent compared to 2020 and and 47 percent over 2019. DLD highlighted its continued attractiveness of the real estate sector to new investors as 5 683 new investors entered the market in Q1 2021 representing 64 percent of the total number of in...
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A total of 6 590 real estate transactions in Dubai were recorded in March valued at about AED23 billion ( 6.26 billion) according to the real estate bulletin issued by Dubai Land Department (DLD) under the name Real Estate Updates . There was a 43 percent growth in the number of deals while its value grew by 40 percent compared to March last year. The DLD real estate bulletin also noted that last month it had recorded the second highest number of real estate transactions since February 2017. The bulletin showed that real estate transactions in Q1 achieved a significant growth of 27 percent compared to 2020 and and 47 percent over 2019. DLD highlighted its continued attractiveness of the real estate sector to new investors as 5 683 new investors entered the market in Q1 2021 representing 64 percent of the total number of in...
Hotel development across the Middle East and Africa has slowed for more than a year with hotel construction in the region declining almost 2 per cent during the first quarter of 2021 according to hospitality data analyst STR. Rooms in the final planning stage in MEA fell 5 per cent and rooms in the earlier stage of planning was down almost 30 per cent according to March pipeline data from STR The UAE and Saudi Arabia continued to lead the region in construction with Saudi Arabia projected to see the fastest growth in hotel supply in the world over the next three years. Europe is the only world region showing increased hotel construction activity in comparison with the end of Q1 last year. The number of hotel rooms in construction increased almost 27 per cent year-on-year in Europe in March. Germany and the UK led...
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Hotel development across the Middle East and Africa has slowed for more than a year with hotel construction in the region declining almost 2 per cent during the first quarter of 2021 according to hospitality data analyst STR. Rooms in the final planning stage in MEA fell 5 per cent and rooms in the earlier stage of planning was down almost 30 per cent according to March pipeline data from STR The UAE and Saudi Arabia continued to lead the region in construction with Saudi Arabia projected to see the fastest growth in hotel supply in the world over the next three years. Europe is the only world region showing increased hotel construction activity in comparison with the end of Q1 last year. The number of hotel rooms in construction increased almost 27 per cent year-on-year in Europe in March. Germany and the UK led...
Trend Micro Incorporated a global leader in cyber security solutions has announced that Qatar s Boom Construction Company (BCC) has successfully deployed a comprehensive cloud-based Trend Micro solution to protect the construction company s digital estate. Part of the Boom Group BCC is one of Qatar s largest construction firms and is a key player in National Vision 2030 s goals of environmental development through state-of-the-art infrastructure and mega-projects. In March last year amid the Covid lockdown BCC s head office was hit with a ransomware attack that left more than 200 users without access to business applications and emails. Downtime was not an option so in response to the attack BCC contacted several vendors for support and found a trusted future partner in Trend Micro said the statemenrt from the IT group. ...
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Trend Micro Incorporated a global leader in cyber security solutions has announced that Qatar s Boom Construction Company (BCC) has successfully deployed a comprehensive cloud-based Trend Micro solution to protect the construction company s digital estate. Part of the Boom Group BCC is one of Qatar s largest construction firms and is a key player in National Vision 2030 s goals of environmental development through state-of-the-art infrastructure and mega-projects. In March last year amid the Covid lockdown BCC s head office was hit with a ransomware attack that left more than 200 users without access to business applications and emails. Downtime was not an option so in response to the attack BCC contacted several vendors for support and found a trusted future partner in Trend Micro said the statemenrt from the IT group. ...
Saudi Real Estate Refinance Company (SRC) plans to issue up to 1 billion in sukuk (Islamic bonds) by the year-end reported Reuters. A wholly-owned unit of the kingdom s sovereign fund Public Investment Fund SRC was set up to increase home ownership among Saudi nationals. Last month the company had sold SR4 billion ( 1.06 billion) in a two-tranche private placement of sukuk guaranteed by the Saudi finance ministry said the report. It will enhance the provision of liquidity in the real estate finance market and contribute positively to reducing the cost of real estate financing for our citizens who wish to own adequate housing. SRC has a portfolio of loans of SR6.5 billion at the end of 2020. It has been assigned an A credit rating by Fitch Ratings before a planned issuance of international bonds reported Saudi TV ...
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Saudi Real Estate Refinance Company (SRC) plans to issue up to 1 billion in sukuk (Islamic bonds) by the year-end reported Reuters. A wholly-owned unit of the kingdom s sovereign fund Public Investment Fund SRC was set up to increase home ownership among Saudi nationals. Last month the company had sold SR4 billion ( 1.06 billion) in a two-tranche private placement of sukuk guaranteed by the Saudi finance ministry said the report. It will enhance the provision of liquidity in the real estate finance market and contribute positively to reducing the cost of real estate financing for our citizens who wish to own adequate housing. SRC has a portfolio of loans of SR6.5 billion at the end of 2020. It has been assigned an A credit rating by Fitch Ratings before a planned issuance of international bonds reported Saudi TV ...
Agility a leading global logistics and warehouse provider has opened a new Agility Logistics Park in Maputo adding to its growing network of international-standard warehouse parks serving key African markets. The new 290 000 sq m Agility park is strategically located on the new Maputo ring road in the Marracuene-Chiongo district providing easy access to the burgeoning Maputo market and road connections to the major highways leading to large markets in the north of Mozambique and to South Africa. The 32 000 sq m of Agility warehousing constructed for the first phase of the development provide ready-built secure international-standard facilities that are available to lease by both local companies and multinationals. Tenants lease the warehouses for storage distribution packaging processing assembly and light manufacturing. Agility warehouses meet international environ...
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Agility a leading global logistics and warehouse provider has opened a new Agility Logistics Park in Maputo adding to its growing network of international-standard warehouse parks serving key African markets. The new 290 000 sq m Agility park is strategically located on the new Maputo ring road in the Marracuene-Chiongo district providing easy access to the burgeoning Maputo market and road connections to the major highways leading to large markets in the north of Mozambique and to South Africa. The 32 000 sq m of Agility warehousing constructed for the first phase of the development provide ready-built secure international-standard facilities that are available to lease by both local companies and multinationals. Tenants lease the warehouses for storage distribution packaging processing assembly and light manufacturing. Agility warehouses meet international environ...
The World Logistics Passport (WLP) which aims to increase trading opportunities between emerging markets and the rest of the world has launched its latest digital platform for the redemption of benefits . The platform focuses on the utilisation of financial and non-financial benefits for increased trade volumes by members and traders from the various partners in the programme. Dubai-based traders can now register in the programme as members within the White Tier and redeem over 100 benefits which will unlock operational agility. The WLP Digital Platform provides participating traders with fast-track access to the programme tapping into a global network of more than 30 partners in 12 hub countries and unlock opportunities within the programme which provides access to 20% of the global trade. Benefits also include up to two additional months for re-export declaration complimentary access to DP World s digit...
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The World Logistics Passport (WLP) which aims to increase trading opportunities between emerging markets and the rest of the world has launched its latest digital platform for the redemption of benefits . The platform focuses on the utilisation of financial and non-financial benefits for increased trade volumes by members and traders from the various partners in the programme. Dubai-based traders can now register in the programme as members within the White Tier and redeem over 100 benefits which will unlock operational agility. The WLP Digital Platform provides participating traders with fast-track access to the programme tapping into a global network of more than 30 partners in 12 hub countries and unlock opportunities within the programme which provides access to 20% of the global trade. Benefits also include up to two additional months for re-export declaration complimentary access to DP World s digit...
Easa Saleh Al Gurg Group (ESAG) one of UAE s leading business conglomerates said its real estate unit has announced a partnership deal with the National Bank of Fujairah that will provide the tenants at all its properties with the option to pay their rent in monthly direct debit installments. The forward-thinking collaboration will provide greater flexibility to tenants who have traditionally paid rent by cheque through quarterly installments. ESAG Real Estate is one of the first private sector landlords in UAE to offer this facility to tenants said the statement from the company. Customers will now be able to fill in a single direct debit authority form for their rent to be deducted monthly it stated. The system which has been thoroughly tested utilises National Bank of Fujairah s secure and convenient digital payment ...
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Easa Saleh Al Gurg Group (ESAG) one of UAE s leading business conglomerates said its real estate unit has announced a partnership deal with the National Bank of Fujairah that will provide the tenants at all its properties with the option to pay their rent in monthly direct debit installments. The forward-thinking collaboration will provide greater flexibility to tenants who have traditionally paid rent by cheque through quarterly installments. ESAG Real Estate is one of the first private sector landlords in UAE to offer this facility to tenants said the statement from the company. Customers will now be able to fill in a single direct debit authority form for their rent to be deducted monthly it stated. The system which has been thoroughly tested utilises National Bank of Fujairah s secure and convenient digital payment ...
Saudi Arabian Logistics the cargo logistics arm of national flag carrier Saudia has sealed a cargo ground handling agreement with Dubai carrier Emirates SkyCargo. A key player in the regional aviation sector SAL provides premium ground handling services for multiple airlines at Saudi Arabia s local airports and logistic support with cargo chain solutions. The company also connects all means of transportation with local airports to make a larger contribution to vision 2030 and transform the Kingdom into a global logistic hub. SAL said this deal comes as part of the company s strategy to logistically partner with the most reputed airlines with strong presence in the international arena. CEO Omar Hariri said: This cooperation with the leading Emirates SkyCargo as a logistic partner will have a positive effect on the flow of c...
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Saudi Arabian Logistics the cargo logistics arm of national flag carrier Saudia has sealed a cargo ground handling agreement with Dubai carrier Emirates SkyCargo. A key player in the regional aviation sector SAL provides premium ground handling services for multiple airlines at Saudi Arabia s local airports and logistic support with cargo chain solutions. The company also connects all means of transportation with local airports to make a larger contribution to vision 2030 and transform the Kingdom into a global logistic hub. SAL said this deal comes as part of the company s strategy to logistically partner with the most reputed airlines with strong presence in the international arena. CEO Omar Hariri said: This cooperation with the leading Emirates SkyCargo as a logistic partner will have a positive effect on the flow of c...
Switzerland has announced that it has achieved a key construction milestone with the completion of the structural work at its country pavilion for the upcoming Expo 2020 event thus bringing the facility one step closer to the official opening in October 2021. The country pavilion Reflections has been designed by the Swiss creative team: the architects OOS AG together with Bellprat Partner AG for scenography and Lorenz Eugster Landscaping GmbH for landscaping and built by general contractor Expomobilia. It is also supported by a number of partners from the private sector. The Swiss authorities hosted a small ceremony to mark the completion of the structural work at Expo 2020 Dubai which was attended by several officials including Manuel Salchli Commissioner General of the Swiss Pavilion and Chairman of the Steering Committee at Expo 2020 Dubai. The work...
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Switzerland has announced that it has achieved a key construction milestone with the completion of the structural work at its country pavilion for the upcoming Expo 2020 event thus bringing the facility one step closer to the official opening in October 2021. The country pavilion Reflections has been designed by the Swiss creative team: the architects OOS AG together with Bellprat Partner AG for scenography and Lorenz Eugster Landscaping GmbH for landscaping and built by general contractor Expomobilia. It is also supported by a number of partners from the private sector. The Swiss authorities hosted a small ceremony to mark the completion of the structural work at Expo 2020 Dubai which was attended by several officials including Manuel Salchli Commissioner General of the Swiss Pavilion and Chairman of the Steering Committee at Expo 2020 Dubai. The work...
Bahrain had last year awarded 1 688 tenders worth 4.1 billion compared to 4.8 billion in 2019 despite the difficult economic conditions triggered by the Covid-19 pandemic according to new data released by Bahrain s Tender Board. In terms of value of contracts the oil sector dominated the list with 228 tenders worth 1.6 billion followed by the construction and engineering industry with 317 tenders worth a combined 875.7 million clearly underscoring the government s continued commitment to its extensive pipeline of major infrastructure projects currently valued at some 32 billion. Bahrain Tenders said the third on the list was the aviation sector with 638.2 million followed by the materials and equipment sector with 606.1 million and finally the services sector which saw a total of 424.8 million worth of tenders. While bringing up the rear in term...
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Bahrain had last year awarded 1 688 tenders worth 4.1 billion compared to 4.8 billion in 2019 despite the difficult economic conditions triggered by the Covid-19 pandemic according to new data released by Bahrain s Tender Board. In terms of value of contracts the oil sector dominated the list with 228 tenders worth 1.6 billion followed by the construction and engineering industry with 317 tenders worth a combined 875.7 million clearly underscoring the government s continued commitment to its extensive pipeline of major infrastructure projects currently valued at some 32 billion. Bahrain Tenders said the third on the list was the aviation sector with 638.2 million followed by the materials and equipment sector with 606.1 million and finally the services sector which saw a total of 424.8 million worth of tenders. While bringing up the rear in term...
Kuwait s United Real Estate Company (URC) said one of its key subsidiaries Mena Homes Real Estate Company has signed a construction contract worth KD16.7 million ( 55 million) for its key residential project - Byout Hessah. Located within Hessah AlMubarak District Byout Hessah is a modern all-inclusive neighbourhood community featuring luxuriously modern living community with a unique mix of townhouses and apartments. The development boasts 40 luxury townhouses and two 12-floor residential buildings with 104 upscale apartments set amidst landscaped surroundings and conveniently located next to Hessah AlMubarak District s retail & dining hub and other commercial components. The contract has been awarded to Alghanim International General Trading and Contracting a leading player in Kuwait s construction sector said URC in its filing to Kuwait Bours...
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Kuwait s United Real Estate Company (URC) said one of its key subsidiaries Mena Homes Real Estate Company has signed a construction contract worth KD16.7 million ( 55 million) for its key residential project - Byout Hessah. Located within Hessah AlMubarak District Byout Hessah is a modern all-inclusive neighbourhood community featuring luxuriously modern living community with a unique mix of townhouses and apartments. The development boasts 40 luxury townhouses and two 12-floor residential buildings with 104 upscale apartments set amidst landscaped surroundings and conveniently located next to Hessah AlMubarak District s retail & dining hub and other commercial components. The contract has been awarded to Alghanim International General Trading and Contracting a leading player in Kuwait s construction sector said URC in its filing to Kuwait Bours...
International Real Estate Partners (IREP) has announced two exciting new strategic developments that will see it diversify into the important and rapidly expanding agri-tech and food security sector in the GCC and give it a major foothold in the retail sector in North America. A multidisciplinary asset management services firm IREP has launched IREPfarm a bold new venture that will bring an innovative practical knowledge and sustainably-led approach to the worlds of real estate and agri-tech solutions in the UAE and wider GCC. Focused directly on finding inspirational modern and empowered ideas to address the major concerns of food water energy and land security expressed by not only regional governments but also leading figures at the United Nations IREPfarm represents a progressive new approach for IREP. IREPfarm will position IREP at the forefront of moves to tackl...
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International Real Estate Partners (IREP) has announced two exciting new strategic developments that will see it diversify into the important and rapidly expanding agri-tech and food security sector in the GCC and give it a major foothold in the retail sector in North America. A multidisciplinary asset management services firm IREP has launched IREPfarm a bold new venture that will bring an innovative practical knowledge and sustainably-led approach to the worlds of real estate and agri-tech solutions in the UAE and wider GCC. Focused directly on finding inspirational modern and empowered ideas to address the major concerns of food water energy and land security expressed by not only regional governments but also leading figures at the United Nations IREPfarm represents a progressive new approach for IREP. IREPfarm will position IREP at the forefront of moves to tackl...
Virtual Summit to put spotlight on logistics and supply chain automation Companies involved in logistics warehousing and supply chain will have the chance to learn how automation can improve their performance and help manage the ongoing challenges of Covid-19. They can also learn to manage disruptions to supply chains and how to manage social distancing rules and remote workforces at the Middle East Warehousing Logistics & Supply Chain Technologies Forum on March 22-23. The event is timely given that 78% of CIOs from logistics manufacturing and trade companies in the Middle East Turkey and Africa (META) region are currently engaged in or about to start a formal digital transformation program and much of their success may hinge on the type of platform they adopt according to a recent report from research and strategic consultin...
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Virtual Summit to put spotlight on logistics and supply chain automation Companies involved in logistics warehousing and supply chain will have the chance to learn how automation can improve their performance and help manage the ongoing challenges of Covid-19. They can also learn to manage disruptions to supply chains and how to manage social distancing rules and remote workforces at the Middle East Warehousing Logistics & Supply Chain Technologies Forum on March 22-23. The event is timely given that 78% of CIOs from logistics manufacturing and trade companies in the Middle East Turkey and Africa (META) region are currently engaged in or about to start a formal digital transformation program and much of their success may hinge on the type of platform they adopt according to a recent report from research and strategic consultin...
The World Logistics Passport (WLP) the first ever global freight loyalty programme that aims to increase opportunities for trade between emerging markets has expanded into a global network of trade megahubs in 11 nations. The initiative was launched under the directives of Vice President and Prime Minister of the UAE and Ruler of Dubai HH Sheikh Mohammed bin Rashid Al Maktoum at the World Economic Forum in Davos last year. The Dubai-led programme is being rolled out in 11 countries across four continents spanning the global South. India Indonesia Thailand Brazil Colombia and South Africa are among the nations that have signed on to the Dubai-led World Logistics Passport in the past 12 months. Sheikh Mohammed bin Rashid al Maktoum said: The World Logistics Passport is yet another major initiative that reflects the UAE s vision to shape a brighter future for our world through innovative programmes that foster global trad...
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The World Logistics Passport (WLP) the first ever global freight loyalty programme that aims to increase opportunities for trade between emerging markets has expanded into a global network of trade megahubs in 11 nations. The initiative was launched under the directives of Vice President and Prime Minister of the UAE and Ruler of Dubai HH Sheikh Mohammed bin Rashid Al Maktoum at the World Economic Forum in Davos last year. The Dubai-led programme is being rolled out in 11 countries across four continents spanning the global South. India Indonesia Thailand Brazil Colombia and South Africa are among the nations that have signed on to the Dubai-led World Logistics Passport in the past 12 months. Sheikh Mohammed bin Rashid al Maktoum said: The World Logistics Passport is yet another major initiative that reflects the UAE s vision to shape a brighter future for our world through innovative programmes that foster global trad...
Investcorp a leading global provider and manager of alternative investment products said industrial and multifamily real estate in North America have delivered exceptional performance over the last decade. Investcorp has a long history of successfully investing in real estate across multiple market cycles having acquired more than 850 properties with a combined value of more than 20 billion since 1996. In 2014 the company narrowed its strategic focus to target what it believes to be the most resilient sectors of real estate residential and industrial which currently represent 90% of the firm s US real estate portfolio. Its real estate team comprises 30 investment professionals and the senior leadership team has an average of more than 25 years of industry experience. This trend is likely to continue given the strong fundame...
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Investcorp a leading global provider and manager of alternative investment products said industrial and multifamily real estate in North America have delivered exceptional performance over the last decade. Investcorp has a long history of successfully investing in real estate across multiple market cycles having acquired more than 850 properties with a combined value of more than 20 billion since 1996. In 2014 the company narrowed its strategic focus to target what it believes to be the most resilient sectors of real estate residential and industrial which currently represent 90% of the firm s US real estate portfolio. Its real estate team comprises 30 investment professionals and the senior leadership team has an average of more than 25 years of industry experience. This trend is likely to continue given the strong fundame...
The World Logistics Passport (WLP) a unique loyalty programme established to increase trading opportunities between emerging markets is expanding in South America with Uruguay s Ministry of Foreign Relations signing a Memorandum of Understanding (MoU). More than 10 countries are now part of the major policy initiative trading nations include India South Africa and Indonesia amongst others. In addition major multinational corporations including UPS Pfizer Sony Johnson & Johnson and LG are also engaged with the WLP. As one of the first South American countries to engage in the programme the announcement follows the registration of Montevideo Free Airport and solidifies the country s standing in the WLP. Uruguay s location offers the WLP a connection to targeted gateway countries including Paraguay Argentina and Chile. The region will ...
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The World Logistics Passport (WLP) a unique loyalty programme established to increase trading opportunities between emerging markets is expanding in South America with Uruguay s Ministry of Foreign Relations signing a Memorandum of Understanding (MoU). More than 10 countries are now part of the major policy initiative trading nations include India South Africa and Indonesia amongst others. In addition major multinational corporations including UPS Pfizer Sony Johnson & Johnson and LG are also engaged with the WLP. As one of the first South American countries to engage in the programme the announcement follows the registration of Montevideo Free Airport and solidifies the country s standing in the WLP. Uruguay s location offers the WLP a connection to targeted gateway countries including Paraguay Argentina and Chile. The region will ...
GWC one of the region s fastest growing companies has been awarded the Pride of Logistics award at the Logistics Middle East Awards 2021. This comes after a year in which the logistics sector shone through as a critical infrastructure ensuring the continuity and safety of the region and its economy. As a leading logistics provider in the region GWC has succeeded in its role providing lean reliable and global standard logistics solutions. We are glad that Logistics Middle East Awards 2021 event organisers ITP have put together such an event highlighting the role the logistics sector has had in a challenging year stated GWC Group CEO Ranjeev Menon on the award. GWC s investment in infrastructure coupled with increasingly sophisticated technical and software integrations ensures that new challenges will be met seamlessly. GWC ...
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GWC one of the region s fastest growing companies has been awarded the Pride of Logistics award at the Logistics Middle East Awards 2021. This comes after a year in which the logistics sector shone through as a critical infrastructure ensuring the continuity and safety of the region and its economy. As a leading logistics provider in the region GWC has succeeded in its role providing lean reliable and global standard logistics solutions. We are glad that Logistics Middle East Awards 2021 event organisers ITP have put together such an event highlighting the role the logistics sector has had in a challenging year stated GWC Group CEO Ranjeev Menon on the award. GWC s investment in infrastructure coupled with increasingly sophisticated technical and software integrations ensures that new challenges will be met seamlessly. GWC ...
Sharjah Real Estate Registration Department (SRERD) has announced that a total of 1 818 real estate transactions worth AED3.5 billion ( 952 million) were recorded in the northern emirate in February. Of the total transactions around 25.1 per cent (amounting to 457) were sales deals and 13.4 per cent (244) mortgage transactions while the remaining 61.5 percent totalling 1 117 were for other transactions said the statement from SRERD. On the basis of property SRERD said the land sales topped the transactions list with 170 followed by built-in land sales transactions at 140. The number of units sold in towers reached 147 in February. Areawise Al Rugaiba recorded the highest number of sales transactions totalling 66 it added. Abdul Aziz Ahmed Al Shamsi Director-General of SRERD said: A key highlight of the February transactions was a...
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Sharjah Real Estate Registration Department (SRERD) has announced that a total of 1 818 real estate transactions worth AED3.5 billion ( 952 million) were recorded in the northern emirate in February. Of the total transactions around 25.1 per cent (amounting to 457) were sales deals and 13.4 per cent (244) mortgage transactions while the remaining 61.5 percent totalling 1 117 were for other transactions said the statement from SRERD. On the basis of property SRERD said the land sales topped the transactions list with 170 followed by built-in land sales transactions at 140. The number of units sold in towers reached 147 in February. Areawise Al Rugaiba recorded the highest number of sales transactions totalling 66 it added. Abdul Aziz Ahmed Al Shamsi Director-General of SRERD said: A key highlight of the February transactions was a...
Shuaa Capital an asset management and investment banking platform in the region has announced the appointment of Walid El Hindi as its CEO of Real Estate with immediate effect. In this role Hindi will be responsible for managing Shuaa s significant real estate portfolio and activities across the value chain and multiple geographies. Shuaa is already highly active in real estate investment with over 11 billion in assets under management development and asset management through Northacre and Astrea in the UK Terra Real Estate Investments in the UAE and Shuaa Capital Saudi Arabia which provide unique investment opportunities across the region. Hindi brings with him a wealth of experience in the real estate sector spanning over 25 years. Earlier he spent five years as CEO at Imkan Properties where he led the establishment and growth of the company into one of the lea...
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Shuaa Capital an asset management and investment banking platform in the region has announced the appointment of Walid El Hindi as its CEO of Real Estate with immediate effect. In this role Hindi will be responsible for managing Shuaa s significant real estate portfolio and activities across the value chain and multiple geographies. Shuaa is already highly active in real estate investment with over 11 billion in assets under management development and asset management through Northacre and Astrea in the UK Terra Real Estate Investments in the UAE and Shuaa Capital Saudi Arabia which provide unique investment opportunities across the region. Hindi brings with him a wealth of experience in the real estate sector spanning over 25 years. Earlier he spent five years as CEO at Imkan Properties where he led the establishment and growth of the company into one of the lea...
Abu Dhabi Waste Management Center (Tadweer) has announced that it has recycled 1.9 million tonnes of construction and demolition (C&D) waste in the emirate last year accounting for 80% of the total C&D waste handled by its facilities equivalent of 255 domes of Louvre Museum in Abu Dhabi. Over the past year Tadweer had collected 2 400 000 tonnes of C&D waste from Abu Dhabi which accounts for 32% of the total waste handled by the centre. To reduce waste resulting from construction and demolition activities across the emirate Tadweer is implementing various programmes that aim to enhance its recycling capabilities according to the highest local and international standards. This aligns with Abu Dhabi Executive Council s decision that mandates the use of at least 40% of recycled materials in road and construction projects across the emirate s three reg...
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Abu Dhabi Waste Management Center (Tadweer) has announced that it has recycled 1.9 million tonnes of construction and demolition (C&D) waste in the emirate last year accounting for 80% of the total C&D waste handled by its facilities equivalent of 255 domes of Louvre Museum in Abu Dhabi. Over the past year Tadweer had collected 2 400 000 tonnes of C&D waste from Abu Dhabi which accounts for 32% of the total waste handled by the centre. To reduce waste resulting from construction and demolition activities across the emirate Tadweer is implementing various programmes that aim to enhance its recycling capabilities according to the highest local and international standards. This aligns with Abu Dhabi Executive Council s decision that mandates the use of at least 40% of recycled materials in road and construction projects across the emirate s three reg...
To help brands assess their e-Commerce logistics capabilities leading global logistics provider Geodis in collaboration with professional services consultancy Accenture has devised a methodological approach to measure the level of e-Commerce readiness. Called Maturity Score it determines challenges brands have to face to rapidly adapt their logistics infrastructure to changing retail purchasing habits. In their recent original research study of brands developing their e-Commerce sales channels 1 Geodis and Accenture Interactive had identified five key logistics capabilities needed to build and maintain flourishing ecommerce operations. On this basis they have devised a methodology that evaluates each e-logistics capability and converts companies practices into scores. The average score across the 200 companies involved in the research are a m...
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To help brands assess their e-Commerce logistics capabilities leading global logistics provider Geodis in collaboration with professional services consultancy Accenture has devised a methodological approach to measure the level of e-Commerce readiness. Called Maturity Score it determines challenges brands have to face to rapidly adapt their logistics infrastructure to changing retail purchasing habits. In their recent original research study of brands developing their e-Commerce sales channels 1 Geodis and Accenture Interactive had identified five key logistics capabilities needed to build and maintain flourishing ecommerce operations. On this basis they have devised a methodology that evaluates each e-logistics capability and converts companies practices into scores. The average score across the 200 companies involved in the research are a m...
APM Terminals Bahrain (APMT) will be hosting a live webinar under the patronage of Engineer Kamal bin Ahmed Mohammed Minister of Transportation and Telecommunications Kingdom of Bahrain and in partnership with the Supreme Council For Women (SCW) highlighting the importance of Promoting Gender Balance in Supply Chain and Logistics. To be held on March 17 at 16:00 hours the session will be attended virtually by local regional and international experts in Supply Chain and Logistics. It will feature senior industry speakers from the private and public sector who will examine the critical role that inclusion and diversity can play in driving ongoing and sustainable industry growth for years to come a statement said. The session will comprise a panel discussion and be followed by a Q&A. Speaking on the topic will be: Susan Hunter CEO of APMT MRania Al Jarf Director of ...
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APM Terminals Bahrain (APMT) will be hosting a live webinar under the patronage of Engineer Kamal bin Ahmed Mohammed Minister of Transportation and Telecommunications Kingdom of Bahrain and in partnership with the Supreme Council For Women (SCW) highlighting the importance of Promoting Gender Balance in Supply Chain and Logistics. To be held on March 17 at 16:00 hours the session will be attended virtually by local regional and international experts in Supply Chain and Logistics. It will feature senior industry speakers from the private and public sector who will examine the critical role that inclusion and diversity can play in driving ongoing and sustainable industry growth for years to come a statement said. The session will comprise a panel discussion and be followed by a Q&A. Speaking on the topic will be: Susan Hunter CEO of APMT MRania Al Jarf Director of ...
The global construction equipment rental sector is poised for solid growth over the next five years with its market value likely to surge to more than 155 billion by 2026 from its present 120 billion gaining remarkable traction over the 2020 to 2026 period according to a recent study from market research firm Global Market Insights. The market for renting equipment has surged over the recent years with some construction firms buying as well as maintaining large fleets of equipment. Other firms select to lease these assets and in some instances they buy select pieces at the end of the arrangement. Renting equipment has become one of the feasible options for numerous companies and gives them the capability to reduce costs and operate a more financially settled construction business said the Global Market Insights report. The construction rental equipment market is likely...
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The global construction equipment rental sector is poised for solid growth over the next five years with its market value likely to surge to more than 155 billion by 2026 from its present 120 billion gaining remarkable traction over the 2020 to 2026 period according to a recent study from market research firm Global Market Insights. The market for renting equipment has surged over the recent years with some construction firms buying as well as maintaining large fleets of equipment. Other firms select to lease these assets and in some instances they buy select pieces at the end of the arrangement. Renting equipment has become one of the feasible options for numerous companies and gives them the capability to reduce costs and operate a more financially settled construction business said the Global Market Insights report. The construction rental equipment market is likely...
PH Real Estate one of Dubai s oldest real estate brokers has announced that it has purchased 50% shares owned by its co-founder Myles Bush in the company for a seven-figure amount . Bush who has announced his retirement had set up the company in 2008 aalong with Nick Grassick who joined PH Real Estate seven years ago and remains its managing director. A reputed company in Dubai PH Real Estate has achieved several milestones over the last 12 years including the Dubai s most expensive villa sale in 2017; the most expensive land sale in 2018 and the most expensive rental property in 2019. On the new development Grassick said: Bush and I have had a fantastic run and we shall certainly all miss him. As we move into an exciting new era for PH Real Estate I m delighted that our new partners share the values that Myles and I began the c...
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PH Real Estate one of Dubai s oldest real estate brokers has announced that it has purchased 50% shares owned by its co-founder Myles Bush in the company for a seven-figure amount . Bush who has announced his retirement had set up the company in 2008 aalong with Nick Grassick who joined PH Real Estate seven years ago and remains its managing director. A reputed company in Dubai PH Real Estate has achieved several milestones over the last 12 years including the Dubai s most expensive villa sale in 2017; the most expensive land sale in 2018 and the most expensive rental property in 2019. On the new development Grassick said: Bush and I have had a fantastic run and we shall certainly all miss him. As we move into an exciting new era for PH Real Estate I m delighted that our new partners share the values that Myles and I began the c...
Abu Dhabi s HOPE Consortium has announced the inaugural World Immunisation & Logistics Summit a major international gathering of front runners and senior decision-makers leading the charge in the collective human effort against the Covid-19 pandemic. Among the international speakers will be DrTedros Adhanom Ghebreyesus Director-General WHO; Mark Suzman CEO Bill & Melinda Gates Foundation; and Stanley C. Erck President and CEO Novavax. The summit is organised by the HOPE Consortium an Abu Dhabi-led public-private partnership responsible for the mass distribution of Covid-19 vaccines to the global population. It will take place virtually on March 29 and 30 and will further cement Abu Dhabi s pioneering role in the fight against Covid-19. The summit provides an open forum for global leaders to discuss the logistical challenges associated with vaccine...
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Abu Dhabi s HOPE Consortium has announced the inaugural World Immunisation & Logistics Summit a major international gathering of front runners and senior decision-makers leading the charge in the collective human effort against the Covid-19 pandemic. Among the international speakers will be DrTedros Adhanom Ghebreyesus Director-General WHO; Mark Suzman CEO Bill & Melinda Gates Foundation; and Stanley C. Erck President and CEO Novavax. The summit is organised by the HOPE Consortium an Abu Dhabi-led public-private partnership responsible for the mass distribution of Covid-19 vaccines to the global population. It will take place virtually on March 29 and 30 and will further cement Abu Dhabi s pioneering role in the fight against Covid-19. The summit provides an open forum for global leaders to discuss the logistical challenges associated with vaccine...
tZERO a leader in blockchain innovation and liquidity for digital assets has partnered with ROI Group a global real estate development company to digitise up to 50 million of preferred equity in a luxury hotel and residential development located at Downtown Dubai on the Tezos Blockchain. A technology firm tZERO aims to enable the market to securely tokenize and trade digitally enhanced securities. It is part of Medici Ventures the blockchain-focused wholly owned subsidiary of Overstock. ROI Group which is headquartered in New York has multi-billion dollars in assets under management with properties in the US Canada and the Middle East. It specialises in land development real estate investments and passive co-investing. The partnership represents ROI Group s first digital security project of what could be one of many future digital security offerings. ...
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tZERO a leader in blockchain innovation and liquidity for digital assets has partnered with ROI Group a global real estate development company to digitise up to 50 million of preferred equity in a luxury hotel and residential development located at Downtown Dubai on the Tezos Blockchain. A technology firm tZERO aims to enable the market to securely tokenize and trade digitally enhanced securities. It is part of Medici Ventures the blockchain-focused wholly owned subsidiary of Overstock. ROI Group which is headquartered in New York has multi-billion dollars in assets under management with properties in the US Canada and the Middle East. It specialises in land development real estate investments and passive co-investing. The partnership represents ROI Group s first digital security project of what could be one of many future digital security offerings. ...
GAC Qatar has been appointed as the Third Party Logistics (3PL) Partner for Losail Circuit Sports Club (LCSC) which hosts prestigious international motorsport events such as the Grand Prix of Qatar and Grand Prix of Doha. The work and planning for the 2021 races due to take place at the Losail International Circuit in Doha on 28 March and 4 April are already fully underway. GAC Qatar will handle the customs clearance transportation and freight services for all cargo including bikes spares tyres fuel garments broadcasting equipment and merchandise. GAC will also provide the logistics workforce and Materials Handling Equipment (MHE) to ensure smooth running of the operations at the Circuit. Two dedicated aircraft charters will be handled by the GAC Qatar sports logistics team with more shipments by air and sea to follow. GAC has been the Logistics P...
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GAC Qatar has been appointed as the Third Party Logistics (3PL) Partner for Losail Circuit Sports Club (LCSC) which hosts prestigious international motorsport events such as the Grand Prix of Qatar and Grand Prix of Doha. The work and planning for the 2021 races due to take place at the Losail International Circuit in Doha on 28 March and 4 April are already fully underway. GAC Qatar will handle the customs clearance transportation and freight services for all cargo including bikes spares tyres fuel garments broadcasting equipment and merchandise. GAC will also provide the logistics workforce and Materials Handling Equipment (MHE) to ensure smooth running of the operations at the Circuit. Two dedicated aircraft charters will be handled by the GAC Qatar sports logistics team with more shipments by air and sea to follow. GAC has been the Logistics P...
DP World the leading provider of smart supply chain logistics said it has joined hands with Caisse de dépôt et placement du Québec (CDPQ) and Indonesia s leading conglomerate Maspion Group to set up an international container port and industrial logistics park at Gresik region of East Java. Work on the projects is expected to begin in the third quarter of 2021 with a total investment of up to 1.2 billion thus enhancing East Java s position as a key trade gateway for Indonesia. As per the agreement DP World will set up a joint venture company along with CDPQ s global investment platform and Maspion Group - a first of its kind in the Indonesian transportation sector involving a foreign direct investor (FDI) partner and a private sector Indonesian company - for the project. DP World Maspion East Java will become the sole operator of a modern...
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DP World the leading provider of smart supply chain logistics said it has joined hands with Caisse de dépôt et placement du Québec (CDPQ) and Indonesia s leading conglomerate Maspion Group to set up an international container port and industrial logistics park at Gresik region of East Java. Work on the projects is expected to begin in the third quarter of 2021 with a total investment of up to 1.2 billion thus enhancing East Java s position as a key trade gateway for Indonesia. As per the agreement DP World will set up a joint venture company along with CDPQ s global investment platform and Maspion Group - a first of its kind in the Indonesian transportation sector involving a foreign direct investor (FDI) partner and a private sector Indonesian company - for the project. DP World Maspion East Java will become the sole operator of a modern...
Leading building equipment maker Doosan Infracore is set to introduce its quarrying mining and construction solution XiteCloud at the upcoming Hillhead Digital event in UK. XiteCloud is the first step towards the commercialisation of Concept-X the company s integrated unmanned and automated control solution first demonstrated to the world in 2019. In addition to this the company will be rolling out its new wheel loader excavator and ADT at the industry event to be held from March 30 to 31. XiteCloud maximises productivity by incorporating complex 3D drone construction surveys and earthwork calculations into a cloud platform allowing them to be completed in just one to two days. Following the successful introduction in South Korea Doosan Infracore is intending to launch XiteCloud in international markets including Europe in the near...
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Leading building equipment maker Doosan Infracore is set to introduce its quarrying mining and construction solution XiteCloud at the upcoming Hillhead Digital event in UK. XiteCloud is the first step towards the commercialisation of Concept-X the company s integrated unmanned and automated control solution first demonstrated to the world in 2019. In addition to this the company will be rolling out its new wheel loader excavator and ADT at the industry event to be held from March 30 to 31. XiteCloud maximises productivity by incorporating complex 3D drone construction surveys and earthwork calculations into a cloud platform allowing them to be completed in just one to two days. Following the successful introduction in South Korea Doosan Infracore is intending to launch XiteCloud in international markets including Europe in the near...
The value of real estate transactions in the northern emirate of Ajman amounted to AED793 million ( 216 million) in February according to the monthly report issued by the Department of Lands and Real Estate Regulation. The report noted the stable performance of the emirate s property market. The month witnessed the registration of 454 real estate transactions during February with the Eastern Sector topping the list of most traded areas at AED394 million. The highest sale of land in value were recorded at Nuaimia 2 at AED9.5 million stated the report. Moreover the monthly real estate report revealed that 394 mortgage transactions were registered the highest of which was estimated at AED80 million for the land in Rumaila 2 it added. ...
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The value of real estate transactions in the northern emirate of Ajman amounted to AED793 million ( 216 million) in February according to the monthly report issued by the Department of Lands and Real Estate Regulation. The report noted the stable performance of the emirate s property market. The month witnessed the registration of 454 real estate transactions during February with the Eastern Sector topping the list of most traded areas at AED394 million. The highest sale of land in value were recorded at Nuaimia 2 at AED9.5 million stated the report. Moreover the monthly real estate report revealed that 394 mortgage transactions were registered the highest of which was estimated at AED80 million for the land in Rumaila 2 it added. ...
Bahrain s construction output contracted by an estimated 0.2% in real terms in 2020 as the industry faced disruptions due to the Covid-19 pandemic and movement restrictions to prevent its spread. Added to this was the oil price drop which further compounded this problem as Bahrain is highly dependent on oil revenue. However driven by investments in infrastructure oil and gas and in renewables the industry is expected to recover in 2021 with an expected real growth rate of 2.1% according to GlobalData a leading data and analytics company. The kingdom s construction industry is expected to grow at an average rate of 4.3% between 2022 and 2025 stated GlobalData in its report Construction in Bahrain Key trends and opportunities to 2025. This will be supported by investments on the development of the coun...
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Bahrain s construction output contracted by an estimated 0.2% in real terms in 2020 as the industry faced disruptions due to the Covid-19 pandemic and movement restrictions to prevent its spread. Added to this was the oil price drop which further compounded this problem as Bahrain is highly dependent on oil revenue. However driven by investments in infrastructure oil and gas and in renewables the industry is expected to recover in 2021 with an expected real growth rate of 2.1% according to GlobalData a leading data and analytics company. The kingdom s construction industry is expected to grow at an average rate of 4.3% between 2022 and 2025 stated GlobalData in its report Construction in Bahrain Key trends and opportunities to 2025. This will be supported by investments on the development of the coun...
Bahrain s works ministry is studying ways to cut the cost of building walkways in a bid to have more of these popular community assets to be built reported the Gulf Daily News our sister publication. For further details visit https://www.gdnonline.com ...
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Bahrain s works ministry is studying ways to cut the cost of building walkways in a bid to have more of these popular community assets to be built reported the Gulf Daily News our sister publication. For further details visit https://www.gdnonline.com ...
Adnoc Logistics & Services (Adnoc L&S) the shipping and maritime logistics arm of Abu Dhabi National Oil Company (Adnoc) has announced the acquisition of six Very Large Crude Carriers (VLCCs). Two VLCCs have already been deployed into the company s fleet. Adnoc L&S has placed an order for three newbuild vessels with options which will be delivered in 2022 and 2023 and purchased one additional existing vessel that will be joining its fleet shortly. These vessels are the first crude carriers to join the Adnoc L&S fleet adding a total cargo capacity of 12 million barrels. The move will enable the company to provide better service to its global customers while also supporting Adnoc as it expands its production and refining capacity and grows its new trading operations. Adnoc has established two new trading companies: Adnoc Trading which is focused on crude oil and started derivatives trading in September 2020; and Adnoc Global...
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Adnoc Logistics & Services (Adnoc L&S) the shipping and maritime logistics arm of Abu Dhabi National Oil Company (Adnoc) has announced the acquisition of six Very Large Crude Carriers (VLCCs). Two VLCCs have already been deployed into the company s fleet. Adnoc L&S has placed an order for three newbuild vessels with options which will be delivered in 2022 and 2023 and purchased one additional existing vessel that will be joining its fleet shortly. These vessels are the first crude carriers to join the Adnoc L&S fleet adding a total cargo capacity of 12 million barrels. The move will enable the company to provide better service to its global customers while also supporting Adnoc as it expands its production and refining capacity and grows its new trading operations. Adnoc has established two new trading companies: Adnoc Trading which is focused on crude oil and started derivatives trading in September 2020; and Adnoc Global...
The UAE Ministry of Energy and Infrastructure has unveiled the National Guide for Smart Construction as part of its celebrations of the Innovation Week which concludes on Sunday (February 28). Suhail bin Mohammed Al Mazrouei Minister of Energy and Infrastructure said the guide aims to develop basic drivers of policies flexible elements and targets that stimulate the development of the construction sector in a way that meets the aspirations of the UAE government which supports the transition of the state for the next fifty years and enhance its global leadership by creating an incubating environment for innovative and qualitative projects that support the work system. He pointed out that the guide contains key elements for smart construction which are essential for all parties to improve the construction process. These include benchmarking to qualify contractors capabiliti...
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The UAE Ministry of Energy and Infrastructure has unveiled the National Guide for Smart Construction as part of its celebrations of the Innovation Week which concludes on Sunday (February 28). Suhail bin Mohammed Al Mazrouei Minister of Energy and Infrastructure said the guide aims to develop basic drivers of policies flexible elements and targets that stimulate the development of the construction sector in a way that meets the aspirations of the UAE government which supports the transition of the state for the next fifty years and enhance its global leadership by creating an incubating environment for innovative and qualitative projects that support the work system. He pointed out that the guide contains key elements for smart construction which are essential for all parties to improve the construction process. These include benchmarking to qualify contractors capabiliti...
IBX Logistics a leading global provider of transportation services with key operations in Dubai has announced that it has recorded a 68% year-on-year rise in revenue in 2020. The strong growth has been attributed to expansion in global markets such as France and Switzerland coupled with established partnerships and trade linkages as well as talented professionals to streamline and manage supply chains. Equipped with an ambitious team the company is looking to further expand its business this year with the launch of new e-commerce services and additional operations in other strategic markets capitalising on its strengths and experience in the freight forwarding/logistics industry as well as being ISO 9001:2015 certified by Bureau Veritas. Despite the Covid-19 restrictions in place during 2020 IBX Logistics seamlessly handled global projects one of which included managin...
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IBX Logistics a leading global provider of transportation services with key operations in Dubai has announced that it has recorded a 68% year-on-year rise in revenue in 2020. The strong growth has been attributed to expansion in global markets such as France and Switzerland coupled with established partnerships and trade linkages as well as talented professionals to streamline and manage supply chains. Equipped with an ambitious team the company is looking to further expand its business this year with the launch of new e-commerce services and additional operations in other strategic markets capitalising on its strengths and experience in the freight forwarding/logistics industry as well as being ISO 9001:2015 certified by Bureau Veritas. Despite the Covid-19 restrictions in place during 2020 IBX Logistics seamlessly handled global projects one of which included managin...
Global real estate investment volumes declined by 28% year-on-year from a record amount of capital markets activity in 2019 according to real estate expert JLL. In Europe Middle East and Africa investment volumes reached 282 billion marking a 17% decrease year-on-year stated JLL in its recently published Global Real Estate Perspective. The full-year transaction volumes totalled 762 billion in 2020. . Global investment volumes were buoyed by strong performance during the fourth quarter which totalled 267 billion up 65% from Q3 2020. According to JLL the fourth quarter global investment activity continued the trend of decelerating quarterly declines throughout 2020 -21% year-on-year in Q4 compared to -41% in Q3 2020 and -50% in Q2 2020. Established markets with sector diversity transparency and scale fuelled the fourth quarter rebound. France Ge...
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Global real estate investment volumes declined by 28% year-on-year from a record amount of capital markets activity in 2019 according to real estate expert JLL. In Europe Middle East and Africa investment volumes reached 282 billion marking a 17% decrease year-on-year stated JLL in its recently published Global Real Estate Perspective. The full-year transaction volumes totalled 762 billion in 2020. . Global investment volumes were buoyed by strong performance during the fourth quarter which totalled 267 billion up 65% from Q3 2020. According to JLL the fourth quarter global investment activity continued the trend of decelerating quarterly declines throughout 2020 -21% year-on-year in Q4 compared to -41% in Q3 2020 and -50% in Q2 2020. Established markets with sector diversity transparency and scale fuelled the fourth quarter rebound. France Ge...
The flexible UK real estate sector remains an attractive asset class for GCC investors as it provides attractive risk adjusted returns said top industry experts at a webinar hosted by Kamco Invest a regional non-banking financial powerhouse headquartered in Kuwait and M7 Real Estate a specialist in the pan-European multi-tenanted real estate market. The event which was moderated by Richard Banks an advisor to M7 on Middle East business development saw experts discuss different ways in which Middle East investors should approach international real estate investment and provide them with deep insights into the opportunities and the risks they face in real estate markets in 2021 and beyond. Mohammad F. Al Othman Executive Director of Real Estate at Kamco Invest was joined by M7 s Executive Chairman Richard Croft and CEO David Ebbrell at the webinar. Af...
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The flexible UK real estate sector remains an attractive asset class for GCC investors as it provides attractive risk adjusted returns said top industry experts at a webinar hosted by Kamco Invest a regional non-banking financial powerhouse headquartered in Kuwait and M7 Real Estate a specialist in the pan-European multi-tenanted real estate market. The event which was moderated by Richard Banks an advisor to M7 on Middle East business development saw experts discuss different ways in which Middle East investors should approach international real estate investment and provide them with deep insights into the opportunities and the risks they face in real estate markets in 2021 and beyond. Mohammad F. Al Othman Executive Director of Real Estate at Kamco Invest was joined by M7 s Executive Chairman Richard Croft and CEO David Ebbrell at the webinar. Af...
In spite of the challenging economic environment four leading logistics companies UPS DHL USPS and FedEx report over 300 billion in revenue for the financial year 2020 data analysed by the Trackr app team reveals. The data was analysed from official press releases from 4 selected companies to find out what impact the coronavirus outbreak and e-commerce boom have made on the logistics sector and provide an outlook for 2021 and beyond. From the data UPS reports the highest revenue increase of 14.20% resulting in 84.60% billion. DHL s revenue reaches a staggering 80.41 billion followed by USPS that has also experienced a boost of nearly 2 billion (from 71.15B in 2019 to 73.10B in revenue) leaving FedEx with 69.20 billion behind. As the companies leaders admit themselves 2020 has exceeded their expectations bringing significant chan...
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In spite of the challenging economic environment four leading logistics companies UPS DHL USPS and FedEx report over 300 billion in revenue for the financial year 2020 data analysed by the Trackr app team reveals. The data was analysed from official press releases from 4 selected companies to find out what impact the coronavirus outbreak and e-commerce boom have made on the logistics sector and provide an outlook for 2021 and beyond. From the data UPS reports the highest revenue increase of 14.20% resulting in 84.60% billion. DHL s revenue reaches a staggering 80.41 billion followed by USPS that has also experienced a boost of nearly 2 billion (from 71.15B in 2019 to 73.10B in revenue) leaving FedEx with 69.20 billion behind. As the companies leaders admit themselves 2020 has exceeded their expectations bringing significant chan...
Abu Dhabi s real estate deals value rose to AED74 billion ( 20.1 billion) with 19 000 transactions being executed including sales and mortgages of land buildings and real estate units for all types of land use thus registering a 28 per cent growth over 2019 s figures of AED58 billion. A report by the Department of Municipalities and Transport (DMT) on the emirate s annual real estate transactions indexes pointed out that real estate sales in 2020 amounted to AED30 billion totalling 8 000 transactions while mortgages accounted for AED44 billion. Sale of lands and buildings reached AED25.3 billion totalling 4 647 transactions with real estate units at value of AED 5 billion through 3 427 transactions it stated. In 2020 the value of real estate mortgages amounted to AED44 million totalling 11 000 transactions. Lands and ...
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Abu Dhabi s real estate deals value rose to AED74 billion ( 20.1 billion) with 19 000 transactions being executed including sales and mortgages of land buildings and real estate units for all types of land use thus registering a 28 per cent growth over 2019 s figures of AED58 billion. A report by the Department of Municipalities and Transport (DMT) on the emirate s annual real estate transactions indexes pointed out that real estate sales in 2020 amounted to AED30 billion totalling 8 000 transactions while mortgages accounted for AED44 billion. Sale of lands and buildings reached AED25.3 billion totalling 4 647 transactions with real estate units at value of AED 5 billion through 3 427 transactions it stated. In 2020 the value of real estate mortgages amounted to AED44 million totalling 11 000 transactions. Lands and ...
Saudi Arabia s sovereign wealth fund Public Investment Fund (PIF) has awarded contracts worth more than SR8 billion ( 2.1 billion) for construction works at King Abdullah Financial District (KAFD) reported Arab News citing a top official. Most of the contracts were awarded to local companies said Aiman Al-Mudaifer PIF s head of the Local Real Estate Division. A key development KAFD is coming up over a 1.6 million-sq-m area in the north of Riyadh. It will include offices of several financial institutions such as the Capital Market Authority and the Saudi Stock Exchange. Several banks and companies started operations at KAFD the official said adding that some tenants received their units at the residential towers. ...
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Saudi Arabia s sovereign wealth fund Public Investment Fund (PIF) has awarded contracts worth more than SR8 billion ( 2.1 billion) for construction works at King Abdullah Financial District (KAFD) reported Arab News citing a top official. Most of the contracts were awarded to local companies said Aiman Al-Mudaifer PIF s head of the Local Real Estate Division. A key development KAFD is coming up over a 1.6 million-sq-m area in the north of Riyadh. It will include offices of several financial institutions such as the Capital Market Authority and the Saudi Stock Exchange. Several banks and companies started operations at KAFD the official said adding that some tenants received their units at the residential towers. ...
HH Sheikh Mohammed bin Rashid Al Maktoum Vice President Prime Minister in his capacity as Dubai s ruler today (February 11) ordered a three-year extension to the construction notice period for plots of land granted by the government to citizens for residential purposes which will start from the expiry date of the previous notice period. This is the second notice period extension granted by Sheikh Mohammed with the first being in 2018 underscoring the keenness of the UAE s leadership to provide Emirati citizens with comfort enabling them to meet their obligations without pressure and ensure their family and social stability reported state news agency Wam. This decision will allow citizens to build their homes in a convenient manner to offer them and their families comfort as part of his keenness to make citizens happy and provide them with decent lives it stated. div...
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HH Sheikh Mohammed bin Rashid Al Maktoum Vice President Prime Minister in his capacity as Dubai s ruler today (February 11) ordered a three-year extension to the construction notice period for plots of land granted by the government to citizens for residential purposes which will start from the expiry date of the previous notice period. This is the second notice period extension granted by Sheikh Mohammed with the first being in 2018 underscoring the keenness of the UAE s leadership to provide Emirati citizens with comfort enabling them to meet their obligations without pressure and ensure their family and social stability reported state news agency Wam. This decision will allow citizens to build their homes in a convenient manner to offer them and their families comfort as part of his keenness to make citizens happy and provide them with decent lives it stated. div...
Booz Allen Hamilton has appointed Bruno Wehbe as the new Vice President for its Real Estate & Investments practice covering the Mena region and its ambitious mega-projects that include the foremost cities of the future. An industry veteran Wehbe boasts consulting expertise that spans a number of related industries and other high-profile engagements. Prior to rejoining Booz Allen Wehbe was Chief Portfolio and Strategy Officer for Arabian Centres which is Saudi Arabia s largest developer and operator of lifestyle centres where he managed 1.3 million sq m of properties worth more than 4 billion. He also co-led the IPO of the company in 2019 one of the kingdom s largest listings of the past decade. Welcoming the appointment Souheil Moukaddem Executive VP and Booz Allen Hamilton s Managing Director in Mena ...
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Booz Allen Hamilton has appointed Bruno Wehbe as the new Vice President for its Real Estate & Investments practice covering the Mena region and its ambitious mega-projects that include the foremost cities of the future. An industry veteran Wehbe boasts consulting expertise that spans a number of related industries and other high-profile engagements. Prior to rejoining Booz Allen Wehbe was Chief Portfolio and Strategy Officer for Arabian Centres which is Saudi Arabia s largest developer and operator of lifestyle centres where he managed 1.3 million sq m of properties worth more than 4 billion. He also co-led the IPO of the company in 2019 one of the kingdom s largest listings of the past decade. Welcoming the appointment Souheil Moukaddem Executive VP and Booz Allen Hamilton s Managing Director in Mena ...
P&O Maritime Logistics a leading provider of marine solutions has appointed Christian Arndt a leading expert in oil and gas logistics to the newly-created role of Vice President Logistics. He will be responsible for furthering the company s strategy to reinvent the way innovative supply chain services are offered to the offshore marine industry. Arndt s appointment is the latest phase in the company s continued strategy of moving away from only supplying vessels to providing integrated end-to-end logistics solutions to customers. P&O Maritime Logistics has been working to shake up the offshore industry business model and provide services that reduce customers costs using data and technology to optimise vessel use and route efficiency all the while decreasing the overall delivery time of cargo. Arndt s extensive experience in the field of energy logistics means he is well-placed to lead P&am...
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P&O Maritime Logistics a leading provider of marine solutions has appointed Christian Arndt a leading expert in oil and gas logistics to the newly-created role of Vice President Logistics. He will be responsible for furthering the company s strategy to reinvent the way innovative supply chain services are offered to the offshore marine industry. Arndt s appointment is the latest phase in the company s continued strategy of moving away from only supplying vessels to providing integrated end-to-end logistics solutions to customers. P&O Maritime Logistics has been working to shake up the offshore industry business model and provide services that reduce customers costs using data and technology to optimise vessel use and route efficiency all the while decreasing the overall delivery time of cargo. Arndt s extensive experience in the field of energy logistics means he is well-placed to lead P&am...
The World Logistics Passport (WLP) a major policy initiative established to increase trading opportunities between emerging markets has welcomed Israel as a participant in the programme marked by a virtual signing ceremony with the Federation of Israeli Chambers of Commerce. As the tenth country to enter the WLP whose trade strategy and expertise aims to increase the resilience of economies around the world Israel joins recent member countries India South Africa Indonesia amongst others. The signing ceremony was attended by Sultan Ahmed Bin Sulayem Chairman of Dubai s Ports Customs and Free Zone Corporation (PCFC) and Amir Shani Vice President of the Federation of Israeli Chambers of Commerce as well as other Israeli executives from the Chamber. Bin Sulayem said: Dubai is a global trading mega hub with world-class infrastructure that enables the ...
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The World Logistics Passport (WLP) a major policy initiative established to increase trading opportunities between emerging markets has welcomed Israel as a participant in the programme marked by a virtual signing ceremony with the Federation of Israeli Chambers of Commerce. As the tenth country to enter the WLP whose trade strategy and expertise aims to increase the resilience of economies around the world Israel joins recent member countries India South Africa Indonesia amongst others. The signing ceremony was attended by Sultan Ahmed Bin Sulayem Chairman of Dubai s Ports Customs and Free Zone Corporation (PCFC) and Amir Shani Vice President of the Federation of Israeli Chambers of Commerce as well as other Israeli executives from the Chamber. Bin Sulayem said: Dubai is a global trading mega hub with world-class infrastructure that enables the ...
Bahrain ranks 15th overall among the world s most competitive emerging markets and seventh in the area of business fundamentals according to the annual Agility Emerging Markets Logistics Index. The Index now in its 12th year ranks 50 countries by factors that make them attractive to logistics providers freight forwarders shipping lines air cargo carriers and distributors. China India and Indonesia topped the Index while three Gulf countries made the top 10: UAE (4) Saudi Arabia (6) and Qatar (9). In the area of business fundamentals Gulf countries dominated the top spots. UAE was No. 1 followed by Saudi Arabia (3) Qatar (4) Bahrain (7) Oman (8) and Kuwait (11). Nearby Jordan was 10th. China India and Indonesia rank highest for domestic logistics; China India and Mexico are at the top for international logistics. Gulf countries are pushing hard to diversify and integrate their economies by developing wo...
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Bahrain ranks 15th overall among the world s most competitive emerging markets and seventh in the area of business fundamentals according to the annual Agility Emerging Markets Logistics Index. The Index now in its 12th year ranks 50 countries by factors that make them attractive to logistics providers freight forwarders shipping lines air cargo carriers and distributors. China India and Indonesia topped the Index while three Gulf countries made the top 10: UAE (4) Saudi Arabia (6) and Qatar (9). In the area of business fundamentals Gulf countries dominated the top spots. UAE was No. 1 followed by Saudi Arabia (3) Qatar (4) Bahrain (7) Oman (8) and Kuwait (11). Nearby Jordan was 10th. China India and Indonesia rank highest for domestic logistics; China India and Mexico are at the top for international logistics. Gulf countries are pushing hard to diversify and integrate their economies by developing wo...
GAC one of the largest integrated providers of shipping logistics and marine services in the region and the world said it has signed an agreement with Qatar Free Zones Authority (QFZA) to establish a contract logistics facility and office in the Ras Bufontas Free Zone. Due for completion in the first quarter of 2022 the purpose-built 27 000 sq m multi-user contract logistics facility is being built from sustainable materials partly fueled by solar power. It will boast several energy-saving features and use recycled water in its operations. The warehouse will serve key sectors including fast-moving consumer goods (FMCG) food & beverage (F&B) fashion sports energy aerospace and healthcare. The agreement with GAC will play an important role in expanding the logistics offerings for QFZA and Qatar thus strengthening supply chains and bolstering the c...
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GAC one of the largest integrated providers of shipping logistics and marine services in the region and the world said it has signed an agreement with Qatar Free Zones Authority (QFZA) to establish a contract logistics facility and office in the Ras Bufontas Free Zone. Due for completion in the first quarter of 2022 the purpose-built 27 000 sq m multi-user contract logistics facility is being built from sustainable materials partly fueled by solar power. It will boast several energy-saving features and use recycled water in its operations. The warehouse will serve key sectors including fast-moving consumer goods (FMCG) food & beverage (F&B) fashion sports energy aerospace and healthcare. The agreement with GAC will play an important role in expanding the logistics offerings for QFZA and Qatar thus strengthening supply chains and bolstering the c...
Construction activity in the Middle East was broadly flat in the last quarter of 2020 but there are clear signs of growth in areas such as ICT and energy infrastructure according to the latest RICS Global Construction Monitor. The RICS Construction Activity Index for the Middle East and Africa was seen at -10% in Q4 up from -11% in Q3 and -40% in Q2. This indicates that whilst activity broadly flat this is an improvement on the negative trends reported back in Q2 stated the expert. Moreover looking at a sector level reveals some areas of strength in terms of infrastructure activity it added. A net balance of -34% of respondents in the Middle East and Africa said that their workloads in private residential fell in Q4 with -41% of respondents also reporting a fall in private non-residential. H...
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Construction activity in the Middle East was broadly flat in the last quarter of 2020 but there are clear signs of growth in areas such as ICT and energy infrastructure according to the latest RICS Global Construction Monitor. The RICS Construction Activity Index for the Middle East and Africa was seen at -10% in Q4 up from -11% in Q3 and -40% in Q2. This indicates that whilst activity broadly flat this is an improvement on the negative trends reported back in Q2 stated the expert. Moreover looking at a sector level reveals some areas of strength in terms of infrastructure activity it added. A net balance of -34% of respondents in the Middle East and Africa said that their workloads in private residential fell in Q4 with -41% of respondents also reporting a fall in private non-residential. H...
Dubai s real estate market continued to be attractive to local and global investors in 2020 with the sector recording 51 414 transactions worth over AED175 billion ( 48 billion) according to the Dubai Land Department (DLD). The report revealed that real estate sales reached AED72.5 billion with 35 423 transactions while mortgages recorded 12 958 transactions with a total value exceeding AED87.7 billion and grants recorded 3 033 transactions worth over AED15 billion. The DLD report also showed that Dubai had attracted 31 648 new investors who concluded 41 571 investments worth over AED73.2 billion. The sector was able to achieve a high volume of transactions despite the global Covid-19 crisis stated Sultan Butti bin Mejren Director General of DLD. This affirms Dubai s robust investment environment and its ability to adapt to v...
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Dubai s real estate market continued to be attractive to local and global investors in 2020 with the sector recording 51 414 transactions worth over AED175 billion ( 48 billion) according to the Dubai Land Department (DLD). The report revealed that real estate sales reached AED72.5 billion with 35 423 transactions while mortgages recorded 12 958 transactions with a total value exceeding AED87.7 billion and grants recorded 3 033 transactions worth over AED15 billion. The DLD report also showed that Dubai had attracted 31 648 new investors who concluded 41 571 investments worth over AED73.2 billion. The sector was able to achieve a high volume of transactions despite the global Covid-19 crisis stated Sultan Butti bin Mejren Director General of DLD. This affirms Dubai s robust investment environment and its ability to adapt to v...
The World Logistics Passport (WLP) a major policy initiative established to increase trading opportunities between emerging markets today announced India Indonesia and South Africa as members. They join Colombia Senegal Kazakhstan Brazil Uruguay and the UAE in a club of trading nations sharing expertise to smooth trade flows around the world. The WLP creates opportunities for business across Africa Asia Central and South America to improve existing trading routes and develop new ones through the world s first logistics loyalty programme for freight forwarders and traders a statement said. It overcomes non-tariff trade barriers by fast-tracking cargo movement reducing administrative costs advancing cargo information and facilitating movement between ports and air. Take for instance the cargo journey from Jakarta to Johannesburg. Transporting high-value low-weight goods through historically esta...
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The World Logistics Passport (WLP) a major policy initiative established to increase trading opportunities between emerging markets today announced India Indonesia and South Africa as members. They join Colombia Senegal Kazakhstan Brazil Uruguay and the UAE in a club of trading nations sharing expertise to smooth trade flows around the world. The WLP creates opportunities for business across Africa Asia Central and South America to improve existing trading routes and develop new ones through the world s first logistics loyalty programme for freight forwarders and traders a statement said. It overcomes non-tariff trade barriers by fast-tracking cargo movement reducing administrative costs advancing cargo information and facilitating movement between ports and air. Take for instance the cargo journey from Jakarta to Johannesburg. Transporting high-value low-weight goods through historically esta...
The World Logistics Passport (WLP) a major policy initiative established by Dubai to increase trading opportunities between emerging markets has announced India Indonesia and South Africa as members. They join Colombia Senegal Kazakhstan Brazil Uruguay and the UAE in a club of trading nations sharing expertise to smooth trade flows around the world. The WLP creates opportunities for business across Africa Asia Central and South America to improve existing trading routes and develop new ones through the world s first logistics loyalty program for freight forwarders and traders. It overcomes non-tariff trade barriers by fast-tracking cargo movement reducing administrative costs advancing cargo information and facilitating movement between ports and air. Transporting high-value low-weight goods through historically established transport routes in Europe takes considerably longer and is therefore more expensive than if...
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The World Logistics Passport (WLP) a major policy initiative established by Dubai to increase trading opportunities between emerging markets has announced India Indonesia and South Africa as members. They join Colombia Senegal Kazakhstan Brazil Uruguay and the UAE in a club of trading nations sharing expertise to smooth trade flows around the world. The WLP creates opportunities for business across Africa Asia Central and South America to improve existing trading routes and develop new ones through the world s first logistics loyalty program for freight forwarders and traders. It overcomes non-tariff trade barriers by fast-tracking cargo movement reducing administrative costs advancing cargo information and facilitating movement between ports and air. Transporting high-value low-weight goods through historically established transport routes in Europe takes considerably longer and is therefore more expensive than if...
Naqel one of the largest domestic logistics service providers in Saudi Arabia has created through its subsidiaries in Europe the Speed Box which offers integrated logistics services from door to door from all the European Union cities to all the cities of the Kingdom. The product is characterised by fast delivery sea freight within two weeks and reduced costs compared to air freight Naqel said in a statement. The Italian port of Genoa has been identified as the main connection point through which all shipments from Europe are collected and shipped to Jeddah Islamic Port in a record period. These are then cleared by customs through Naqel s terminal in the port s retention zone with the possibility of storing them in the retention zone as per clients requirements and finally delivering them to all regions and cities of the Kingdom through its network. Thi...
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Naqel one of the largest domestic logistics service providers in Saudi Arabia has created through its subsidiaries in Europe the Speed Box which offers integrated logistics services from door to door from all the European Union cities to all the cities of the Kingdom. The product is characterised by fast delivery sea freight within two weeks and reduced costs compared to air freight Naqel said in a statement. The Italian port of Genoa has been identified as the main connection point through which all shipments from Europe are collected and shipped to Jeddah Islamic Port in a record period. These are then cleared by customs through Naqel s terminal in the port s retention zone with the possibility of storing them in the retention zone as per clients requirements and finally delivering them to all regions and cities of the Kingdom through its network. Thi...
The Abu Dhabi National Oil Company (Adnoc) has signed a strategic real estate investment partnership with Abu Dhabi Pension Fund (ADPF) enabling the latter to gain further financial exposure to high-quality Adnoc assets. The transaction is ADPF s third successive energy infrastructure and real estate asset partnership with Adnoc and marks ADPF s largest single transaction with Adnoc to date. The ADPF partnership follows the announcement by Adnoc in September 2020 that it had entered into a long-term strategic investment with accounts and entities owned and/or advised by Apollo Global Management Inc. and its subsidiaries one of the world s largest alternative investment managers and a group of institutional investors for an underlying real estate portfolio valued at 5.5 billion. Under the terms of the agreement ADPF will acquire a 31% holding in Abu Dhabi Energy Real Estate Company Sole Proprietorship (ADE...
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The Abu Dhabi National Oil Company (Adnoc) has signed a strategic real estate investment partnership with Abu Dhabi Pension Fund (ADPF) enabling the latter to gain further financial exposure to high-quality Adnoc assets. The transaction is ADPF s third successive energy infrastructure and real estate asset partnership with Adnoc and marks ADPF s largest single transaction with Adnoc to date. The ADPF partnership follows the announcement by Adnoc in September 2020 that it had entered into a long-term strategic investment with accounts and entities owned and/or advised by Apollo Global Management Inc. and its subsidiaries one of the world s largest alternative investment managers and a group of institutional investors for an underlying real estate portfolio valued at 5.5 billion. Under the terms of the agreement ADPF will acquire a 31% holding in Abu Dhabi Energy Real Estate Company Sole Proprietorship (ADE...
Orascom Construction a leading engineering and building contractor in the region has announced that it has added approximately 920 million of new awards to its backlog in the fourth quarter. This brings total new awards in FY 2020 to 2.9 billion thus reflecting the group s successful efforts to add high-quality projects and maintain a healthy backlog throughout the year. The estimated consolidated backlog stands at 5.3 billion as of December 31 2020 said the company in a statement. Projects in Egypt comprised 62% of new awards during Q4 2020 a large portion of which is attributable to the transportation sector while new awards in the U.S. accounted for the balance and included a sizable share of data center projects it stated. Orascom Construction recently signed with Emaar a new EGP 1 billion contract to build Vida Marina Hotel &am...
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Orascom Construction a leading engineering and building contractor in the region has announced that it has added approximately 920 million of new awards to its backlog in the fourth quarter. This brings total new awards in FY 2020 to 2.9 billion thus reflecting the group s successful efforts to add high-quality projects and maintain a healthy backlog throughout the year. The estimated consolidated backlog stands at 5.3 billion as of December 31 2020 said the company in a statement. Projects in Egypt comprised 62% of new awards during Q4 2020 a large portion of which is attributable to the transportation sector while new awards in the U.S. accounted for the balance and included a sizable share of data center projects it stated. Orascom Construction recently signed with Emaar a new EGP 1 billion contract to build Vida Marina Hotel &am...
Emirates National Oil Company (Enoc) Group the official integrated energy partner of Expo 2020 Dubai has announced that the construction of its pavilion for the mega event has been completed eight months ahead of schedule. The 2 060-sq-m pavilion set up under the theme of Reimagine Energy comprises five distinct structures. It has been built using 700 tonnes of steel to minimise waste and environmental impact and to promote environmental sustainability. The use of steel in the construction of the pavilion will also allow for further reuse of the pavilion buildings and return the site to its original state when Expo concludes in 2022 said the statement from Enoc. The pavilion has been constructed to meet sustainability and design standards put forward by the Expo 2020 team integrating legacy into the build plan by focusing on local and recyclable materials...
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Emirates National Oil Company (Enoc) Group the official integrated energy partner of Expo 2020 Dubai has announced that the construction of its pavilion for the mega event has been completed eight months ahead of schedule. The 2 060-sq-m pavilion set up under the theme of Reimagine Energy comprises five distinct structures. It has been built using 700 tonnes of steel to minimise waste and environmental impact and to promote environmental sustainability. The use of steel in the construction of the pavilion will also allow for further reuse of the pavilion buildings and return the site to its original state when Expo concludes in 2022 said the statement from Enoc. The pavilion has been constructed to meet sustainability and design standards put forward by the Expo 2020 team integrating legacy into the build plan by focusing on local and recyclable materials...
Under the directives of Vice President and Prime Minister of the UAE and Ruler of Dubai HH Sheikh Mohammed bin Rashid Al Maktoum Dubai has launched the Vaccine Logistics Alliance to speed up distribution of Covid-19 vaccines around the world through the emirate. In support of the World Health Organisation s (WHO) COVAX initiative and its efforts to equitably distribute two billion doses of Covid-19 vaccines in 2021 the Dubai Vaccines Logistics Alliance combines the expertise and global reach of Emirates airline with DP World s worldwide network of ports and logistics operations along with the infrastructure of Dubai Airports and International Humanitarian City to distribute vaccines worldwide. The distribution will particularly focus on emerging markets where populations have been hard-hit by the pandemic and pharmaceutical transport and logistics are challenging. The alliance is working wit...
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Under the directives of Vice President and Prime Minister of the UAE and Ruler of Dubai HH Sheikh Mohammed bin Rashid Al Maktoum Dubai has launched the Vaccine Logistics Alliance to speed up distribution of Covid-19 vaccines around the world through the emirate. In support of the World Health Organisation s (WHO) COVAX initiative and its efforts to equitably distribute two billion doses of Covid-19 vaccines in 2021 the Dubai Vaccines Logistics Alliance combines the expertise and global reach of Emirates airline with DP World s worldwide network of ports and logistics operations along with the infrastructure of Dubai Airports and International Humanitarian City to distribute vaccines worldwide. The distribution will particularly focus on emerging markets where populations have been hard-hit by the pandemic and pharmaceutical transport and logistics are challenging. The alliance is working wit...
DP World Emirates SkyCargo Dubai Airports and International Humanitarian City have formed a vaccine logistics alliance to expedite global distribution of Covid-19 vaccines by air land and sea from Dubai especially to developing countries. The initiative was launched under the directives of Vice President and Prime Minister of the UAE and Ruler of Dubai Sheikh Mohammed bin Rashid Al Maktoum. In support of the World Health Organisation s (WHO) Covax initiative and its efforts to equitably distribute two billion doses of Covid-19 vaccines in 2021 the distribution will particularly focus on emerging markets where populations have been hard-hit by the pandemic and pharmaceutical transport and logistics are challenging. The alliance is working with a broader set of stakeholders including pharmaceutical manufacturers forwarders government agencies and other entities for transportation of vaccines. Sheikh Ahmed bin ...
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DP World Emirates SkyCargo Dubai Airports and International Humanitarian City have formed a vaccine logistics alliance to expedite global distribution of Covid-19 vaccines by air land and sea from Dubai especially to developing countries. The initiative was launched under the directives of Vice President and Prime Minister of the UAE and Ruler of Dubai Sheikh Mohammed bin Rashid Al Maktoum. In support of the World Health Organisation s (WHO) Covax initiative and its efforts to equitably distribute two billion doses of Covid-19 vaccines in 2021 the distribution will particularly focus on emerging markets where populations have been hard-hit by the pandemic and pharmaceutical transport and logistics are challenging. The alliance is working with a broader set of stakeholders including pharmaceutical manufacturers forwarders government agencies and other entities for transportation of vaccines. Sheikh Ahmed bin ...
The Covid-19 outbreak put many sectors at a standstill with building and construction recording a moderate growth since the pandemic struck. However the Middle East and Africa in general have done well in controlling the pandemic said an expert. Though it has led to an economic slowdown there is a chance of recovery projected within the first quarter of 2021 stated Safdar Badami the Managing Director of Al Muqarram Group a key manufacturer of sealants waterproofing products adhesives and maintenance equipments. According to industry experts MEA s construction sector is set to record an annual growth rate of 7.1 percent by 2024. Still the pandemic has slowed everything with the main concern being the shifting of timelines from Coronavirus s effects. However the building and construction sector will have to adjust to the new normal to keep the ...
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The Covid-19 outbreak put many sectors at a standstill with building and construction recording a moderate growth since the pandemic struck. However the Middle East and Africa in general have done well in controlling the pandemic said an expert. Though it has led to an economic slowdown there is a chance of recovery projected within the first quarter of 2021 stated Safdar Badami the Managing Director of Al Muqarram Group a key manufacturer of sealants waterproofing products adhesives and maintenance equipments. According to industry experts MEA s construction sector is set to record an annual growth rate of 7.1 percent by 2024. Still the pandemic has slowed everything with the main concern being the shifting of timelines from Coronavirus s effects. However the building and construction sector will have to adjust to the new normal to keep the ...
Dubai-based Al Shirawi Contracting Company said it has partnered with leading American brand Maxon Technologies for the application and distribution of protective coating for metal and concrete in the UAE. A unit of Dubai-based Al Shirawi Group of Companies the leading waterproofing and futureproofing specialist in the country Al Shirawi Contracting said this strategic tie-up will further strengthen the company s futureproofing services in times to come. Headquartered in the greater Los Angeles area Maxon Technologies is a specialist in anti-corrosion prevention and reinforcement services since the last several decades. An innovator in corrosion prevention and concrete treatment for heavy industries it has revolutionised the field of rust and corrosion treatment. It serves prestigious clients in the oil and g...
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Dubai-based Al Shirawi Contracting Company said it has partnered with leading American brand Maxon Technologies for the application and distribution of protective coating for metal and concrete in the UAE. A unit of Dubai-based Al Shirawi Group of Companies the leading waterproofing and futureproofing specialist in the country Al Shirawi Contracting said this strategic tie-up will further strengthen the company s futureproofing services in times to come. Headquartered in the greater Los Angeles area Maxon Technologies is a specialist in anti-corrosion prevention and reinforcement services since the last several decades. An innovator in corrosion prevention and concrete treatment for heavy industries it has revolutionised the field of rust and corrosion treatment. It serves prestigious clients in the oil and g...
Three leading institutions in the UAE have joined the World Logistics Passport (WLP) a major initiative established to increase trading opportunities between developing markets. The WLP is helping to reimagine how goods and services move around the world increase resilience in global supply chains and remove the barriers that prevent developing economies from trading as freely as they might. The new entrants are Etihad Credit Insurance (ECI) Dubai Multi Commodities Centre (DMCC) and flydubai. Unlocking these benefits allows nations and regions to gain access to new markets diversify trade in existing products towards new markets and increase market shares in key export products in developing economies. The WLP aims to tap into over 20 markets representing 54% of Global GDP. By 2023 the WLP is projected to have about 2% impact on global trade a statement said. Colombia Senegal and ...
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Three leading institutions in the UAE have joined the World Logistics Passport (WLP) a major initiative established to increase trading opportunities between developing markets. The WLP is helping to reimagine how goods and services move around the world increase resilience in global supply chains and remove the barriers that prevent developing economies from trading as freely as they might. The new entrants are Etihad Credit Insurance (ECI) Dubai Multi Commodities Centre (DMCC) and flydubai. Unlocking these benefits allows nations and regions to gain access to new markets diversify trade in existing products towards new markets and increase market shares in key export products in developing economies. The WLP aims to tap into over 20 markets representing 54% of Global GDP. By 2023 the WLP is projected to have about 2% impact on global trade a statement said. Colombia Senegal and ...
The 20 most influential individuals in the real estate industry across the Middle East and North Africa (Mena) region have been revealed in the first-ever Cityscape Intelligence Real Estate Power List for 2020 compiled by industry professionals to recognise exceptional leadership in a year defined by the Covid-19 pandemic. Nadhmi Al Nasr the CEO of Saudi Arabia s mega new future city project incorporating cutting-edge smart city technology and Sultan Ahmed Bin Sulayem the group chairman and CEO of DP World and Virgin Hyperloop One are two of the stand-out names on the list which unites distinguished leaders of the region s biggest mega-projects state developers and legacy private sector developers. The list has been curated by Cityscape Intelligence the region s premier real estate market analysis portal with the final 20 names selected on nominations by industry pr...
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The 20 most influential individuals in the real estate industry across the Middle East and North Africa (Mena) region have been revealed in the first-ever Cityscape Intelligence Real Estate Power List for 2020 compiled by industry professionals to recognise exceptional leadership in a year defined by the Covid-19 pandemic. Nadhmi Al Nasr the CEO of Saudi Arabia s mega new future city project incorporating cutting-edge smart city technology and Sultan Ahmed Bin Sulayem the group chairman and CEO of DP World and Virgin Hyperloop One are two of the stand-out names on the list which unites distinguished leaders of the region s biggest mega-projects state developers and legacy private sector developers. The list has been curated by Cityscape Intelligence the region s premier real estate market analysis portal with the final 20 names selected on nominations by industry pr...
Bahrain s real estate sector bounced back during the second half of 2020 increasing by about 14 per cent and 20 per cent in the third and fourth quarters respectively. The volume of real estate transactions across the kingdom hit BD717.4 million ( 1.9 billion) last year compared to BD808.9 million the year before thus registering a 11 per cent decline amid tough economic conditions said a top official. Survey and Land Registration Bureau (SLRB) President and Board of Directors Chairman of the Real Estate Regulatory Authority (RERA) Shaikh Salman bin Abdulla bin Hamad Al Khalifa pointed out that the results could be considered positive given the exceptional circumstances created by the spread of the novel coronavirus (Covid-19) pandemic and its economic impacts. The positive results attained in the second half were the fruitful outcome of the measures taken by the go...
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Bahrain s real estate sector bounced back during the second half of 2020 increasing by about 14 per cent and 20 per cent in the third and fourth quarters respectively. The volume of real estate transactions across the kingdom hit BD717.4 million ( 1.9 billion) last year compared to BD808.9 million the year before thus registering a 11 per cent decline amid tough economic conditions said a top official. Survey and Land Registration Bureau (SLRB) President and Board of Directors Chairman of the Real Estate Regulatory Authority (RERA) Shaikh Salman bin Abdulla bin Hamad Al Khalifa pointed out that the results could be considered positive given the exceptional circumstances created by the spread of the novel coronavirus (Covid-19) pandemic and its economic impacts. The positive results attained in the second half were the fruitful outcome of the measures taken by the go...
Roads and Transport Authority (RTA) has announced the completion of bus stations at three key areas of Dubai - Al Jaffiliya Al Qusais and Deira. These are Al Jaffiliya Etisalat and Union public bus stations. Of these the biggest one is Jaffiliya Bus Station comprising a bus terminal and a multi-level building (Ground floor 2 storeys and bus stop yard) spread over a 19 000 sq m area. The facility includes 484 sq m of office area and a 595 sq m waiting area for passengers said the statement from RTA. The station has 6 slots for buses in addition to a parking space for 503 vehicles and a docking station for 30 bikes it stated. The station can accommodate up to 7000 passengers. Announcing the launch Mattar Mohammed Al Tayer Director-General the Chairman of the Board of Executive Directors of RTA said: We expect 4 500 passen...
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Roads and Transport Authority (RTA) has announced the completion of bus stations at three key areas of Dubai - Al Jaffiliya Al Qusais and Deira. These are Al Jaffiliya Etisalat and Union public bus stations. Of these the biggest one is Jaffiliya Bus Station comprising a bus terminal and a multi-level building (Ground floor 2 storeys and bus stop yard) spread over a 19 000 sq m area. The facility includes 484 sq m of office area and a 595 sq m waiting area for passengers said the statement from RTA. The station has 6 slots for buses in addition to a parking space for 503 vehicles and a docking station for 30 bikes it stated. The station can accommodate up to 7000 passengers. Announcing the launch Mattar Mohammed Al Tayer Director-General the Chairman of the Board of Executive Directors of RTA said: We expect 4 500 passen...
GWC a leading logistics provider in Qatar has signed an MoU for the acquisition of Aero Chem Logistics and its strategically located 22 000-sq-m chemical storage facility in Ras Laffan Industrial City (RLIC) through GWC Chemicals a wholly-owned subsidiary of GWC. We are happy to be associated with GWC and are confident in their abilities as industry leaders in the chemical and Hazmat logistics field to maintain and develop the operations at this chemical storage facility stated Aero Chem Logistics Chairman Abdulla Saif Yasser Al Moosallam. GWC s existing 320 000-sq-m of oil and gas logistics infrastructure in Ras Laffan and Messaieed Industrial Cities features specialised solutions such as Hazmat warehousing laydown yard and general storage facilities. This addition will reinforce GWC s locational advantage and expansive capabilities in the oil and gas and manufacturing industries....
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GWC a leading logistics provider in Qatar has signed an MoU for the acquisition of Aero Chem Logistics and its strategically located 22 000-sq-m chemical storage facility in Ras Laffan Industrial City (RLIC) through GWC Chemicals a wholly-owned subsidiary of GWC. We are happy to be associated with GWC and are confident in their abilities as industry leaders in the chemical and Hazmat logistics field to maintain and develop the operations at this chemical storage facility stated Aero Chem Logistics Chairman Abdulla Saif Yasser Al Moosallam. GWC s existing 320 000-sq-m of oil and gas logistics infrastructure in Ras Laffan and Messaieed Industrial Cities features specialised solutions such as Hazmat warehousing laydown yard and general storage facilities. This addition will reinforce GWC s locational advantage and expansive capabilities in the oil and gas and manufacturing industries....
Leading logistics services provider Geodis is widening its range of worldwide project logistics services. At the same time Geodis is positioning this specialised offer with a new name in the market changing from Geodis Industrial Projects to Geodis Project Logistics. The name change reflects the more diversified service portfolio of Geodis in this sector which now goes beyond serving the industrial segment. In addition to Geodis growing activity in the Renewable Energy market as well as the company s evolving offer for the Oil & Gas industry Geodis is integrating its Aid & Relief business as well as its Marine Logistics teams into the expanded project logistics organisation. Geodis Project Logistics represents the full spectrum of services we offer today said Luke Mace Senior Vice President Project Logistics at Geodis. div...
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Leading logistics services provider Geodis is widening its range of worldwide project logistics services. At the same time Geodis is positioning this specialised offer with a new name in the market changing from Geodis Industrial Projects to Geodis Project Logistics. The name change reflects the more diversified service portfolio of Geodis in this sector which now goes beyond serving the industrial segment. In addition to Geodis growing activity in the Renewable Energy market as well as the company s evolving offer for the Oil & Gas industry Geodis is integrating its Aid & Relief business as well as its Marine Logistics teams into the expanded project logistics organisation. Geodis Project Logistics represents the full spectrum of services we offer today said Luke Mace Senior Vice President Project Logistics at Geodis. div...
DP World s port-centric logistics arm Smart Solution Logistics FZE (SSL) has signed an agreement with Israel-based Allalouf Logistics to explore new growth opportunities for the logistics and general freight forwarding business in the UAE and Israel. The agreement which will foster trade between key trade hubs in both countries and beyond was signed by Albert Kraak Chief Operating Officer (COO) of SSL and Gil Miller Managing Director Allalouf Logistics said a Wam news agency report. Strategically located in Dubai s Jebel Ali Port with excellent connectivity to terminals at the port DP World s SSL offers an extensive range of containerised logistics solutions. Using its worldwide network of ports and terminals overseas SSL helps companies to link their supply chain to any part of the world using high-end IT platforms and variety of transportation modes. Through its collaboration with Alla...
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DP World s port-centric logistics arm Smart Solution Logistics FZE (SSL) has signed an agreement with Israel-based Allalouf Logistics to explore new growth opportunities for the logistics and general freight forwarding business in the UAE and Israel. The agreement which will foster trade between key trade hubs in both countries and beyond was signed by Albert Kraak Chief Operating Officer (COO) of SSL and Gil Miller Managing Director Allalouf Logistics said a Wam news agency report. Strategically located in Dubai s Jebel Ali Port with excellent connectivity to terminals at the port DP World s SSL offers an extensive range of containerised logistics solutions. Using its worldwide network of ports and terminals overseas SSL helps companies to link their supply chain to any part of the world using high-end IT platforms and variety of transportation modes. Through its collaboration with Alla...
Oman s Ministry of Transport Communications and Information Technology has finalized the main framework for a project titled Tamayyiz which is a national indicators initiative to upgrade the efficiency of the logistics sector. Through this initiative the Ministry seeks to transform the logistics business environment into a globalized business climate and to enable the sector to benefit from business facilitation instruments available through government departments reported Oman News Agency (ONA). The programme aims to upgrade the level of business and economic capabilities of all components of logistics activities in the Sultanate besides improving the timeframe and customs infrastructure and facilitating the clearing of goods which will eventually enhance the Sultanate s status as an international logistics hub and establish a supportive environment for stakeholders in the logistics sector. ...
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Oman s Ministry of Transport Communications and Information Technology has finalized the main framework for a project titled Tamayyiz which is a national indicators initiative to upgrade the efficiency of the logistics sector. Through this initiative the Ministry seeks to transform the logistics business environment into a globalized business climate and to enable the sector to benefit from business facilitation instruments available through government departments reported Oman News Agency (ONA). The programme aims to upgrade the level of business and economic capabilities of all components of logistics activities in the Sultanate besides improving the timeframe and customs infrastructure and facilitating the clearing of goods which will eventually enhance the Sultanate s status as an international logistics hub and establish a supportive environment for stakeholders in the logistics sector. ...
SaMoTer Veronafiere s triennial international construction machinery exhibition said it will welcome companies and sector operators once again in March 2023. This is a further and definitive change of date compared to the initial hypothesis of shifting the 2020 edition - postponed because of the Covid-19 emergency - to March 3 to 7 2021. This was an inevitable yet carefully analysed and widely shared decision said Giovanni Mantovani CEO of Veronafiere. The scenario associated with the pandemic is still very uncertain. Consequently in agreement with manufacturers and sector associations we have identified a new positioning in line with the needs of this industry as well as the calendar of other specialized trade fairs in Europe. At the same time we are well aware of the importance for companies of having live occasions for presenting their l...
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SaMoTer Veronafiere s triennial international construction machinery exhibition said it will welcome companies and sector operators once again in March 2023. This is a further and definitive change of date compared to the initial hypothesis of shifting the 2020 edition - postponed because of the Covid-19 emergency - to March 3 to 7 2021. This was an inevitable yet carefully analysed and widely shared decision said Giovanni Mantovani CEO of Veronafiere. The scenario associated with the pandemic is still very uncertain. Consequently in agreement with manufacturers and sector associations we have identified a new positioning in line with the needs of this industry as well as the calendar of other specialized trade fairs in Europe. At the same time we are well aware of the importance for companies of having live occasions for presenting their l...
The Saudi cabinet chaired by King Salman bin Abdulaziz Al Saud Prime Minister has given approval to the Real Estate Development Fund regulation reported Saudi Press Agency. The cabinet also approved the setting up of a central risk classification units in the Ministry of Finance as well other ministries and the government agencies it stated. A key fund REDF offers provisions for developing diversified and balanced financing programmes to suit all segments of society in co-ordination with the Ministry of Housing. The Saudi Cabinet also approved the new REDF law which comprises 18 articles. Under the new law the REDF will stand as a legal personality and a financially and administratively independent entity with a similar structure to the National Development Fund stated the SPA report. div...
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The Saudi cabinet chaired by King Salman bin Abdulaziz Al Saud Prime Minister has given approval to the Real Estate Development Fund regulation reported Saudi Press Agency. The cabinet also approved the setting up of a central risk classification units in the Ministry of Finance as well other ministries and the government agencies it stated. A key fund REDF offers provisions for developing diversified and balanced financing programmes to suit all segments of society in co-ordination with the Ministry of Housing. The Saudi Cabinet also approved the new REDF law which comprises 18 articles. Under the new law the REDF will stand as a legal personality and a financially and administratively independent entity with a similar structure to the National Development Fund stated the SPA report. div...
Project Freight Net BV also known as PFN has announced the launch of a new networking group for individual professionals starting January 2021. The new group named Project Cargo Group or PCG for short is formed especially for the individual professionals in the project cargo logistics and heavy lift industry. The group is aimed at individuals not companies that are employed unemployed self-employed students business owners CEO s heavy lifters & riggers project freight and or project forwarders logistics educators engineers shippers cargo insurance & loss control managers project logistics manager to name just a few. For all generations The list of potential participants is endless within the project cargo and logistics industry. The focus for PCG is to connect professionals advise educate and share know-how providing a stimulating place for personal ...
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Project Freight Net BV also known as PFN has announced the launch of a new networking group for individual professionals starting January 2021. The new group named Project Cargo Group or PCG for short is formed especially for the individual professionals in the project cargo logistics and heavy lift industry. The group is aimed at individuals not companies that are employed unemployed self-employed students business owners CEO s heavy lifters & riggers project freight and or project forwarders logistics educators engineers shippers cargo insurance & loss control managers project logistics manager to name just a few. For all generations The list of potential participants is endless within the project cargo and logistics industry. The focus for PCG is to connect professionals advise educate and share know-how providing a stimulating place for personal ...
Ahmad bin Mohammed Al Sayed Minister of State and Chairman of Qatar Free Zones Authority (QFZA) has inaugurated the newest regional hub for GWC (Q.P.S.C) one of the leading logistics provider and the authorized service contractor of UPS in Qatar. The inauguration took place during a ceremony held on December 31 2020 which was attended by various dignitaries and high-ranking officials from QFZA and GWC. The hub strategically located in the Ras Bufontas Free Zone will represent the first logistics company to start operations out of the newly established free zone. GWC is the first logistics company to start operations in the free zone which is adjacent to the airport. This location will enhance the company s capabilities and strengthen its role in expanding Qatar as a hub for transit trade and value-added services. Ahm...
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Ahmad bin Mohammed Al Sayed Minister of State and Chairman of Qatar Free Zones Authority (QFZA) has inaugurated the newest regional hub for GWC (Q.P.S.C) one of the leading logistics provider and the authorized service contractor of UPS in Qatar. The inauguration took place during a ceremony held on December 31 2020 which was attended by various dignitaries and high-ranking officials from QFZA and GWC. The hub strategically located in the Ras Bufontas Free Zone will represent the first logistics company to start operations out of the newly established free zone. GWC is the first logistics company to start operations in the free zone which is adjacent to the airport. This location will enhance the company s capabilities and strengthen its role in expanding Qatar as a hub for transit trade and value-added services. Ahm...
Emirates Central Cooling Systems Corporation (Empower) has awarded contracts worth of AED1.39 billion ( 378 million) this year to cover the construction of new districts cooling plants and the expansion of its district cooling networks. Other contracts were concluded on energy transmission stations thermal energy storage (TES) systems procurement of pre-insulated pipes and meters implementation of artificial intelligence billing system expansion capacity enhancement of data storage and other relevant businesses like consultation services and designing. Announcing this figures Empower said compared to last year the value of the total contracts awarded jumped by 23% in 2020. The major ones were the AED354 million contract to build two new district cooling plants in Za abeel and Business Bay with a total capacity of 100 000 refrigeration tons (RT). di...
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Emirates Central Cooling Systems Corporation (Empower) has awarded contracts worth of AED1.39 billion ( 378 million) this year to cover the construction of new districts cooling plants and the expansion of its district cooling networks. Other contracts were concluded on energy transmission stations thermal energy storage (TES) systems procurement of pre-insulated pipes and meters implementation of artificial intelligence billing system expansion capacity enhancement of data storage and other relevant businesses like consultation services and designing. Announcing this figures Empower said compared to last year the value of the total contracts awarded jumped by 23% in 2020. The major ones were the AED354 million contract to build two new district cooling plants in Za abeel and Business Bay with a total capacity of 100 000 refrigeration tons (RT). di...
Scandinavian Biogas one of the Nordic region s largest private producers of biogas as vehicle fuel has acquired logistics service company Ekdalens Biotransporter a market leader in the transport of organic material to and from biogas facilities in southern Sweden. The acquisition is part of Scandinavian Biogas s strategy to achieve greater integration across the entire value chain from organic waste to produced biogas and bio-fertiliser and the capacity to offer comprehensive transport service to the biogas industry. Ekdalens Biotransporter is a market leader in the transport of organic material with a focus on substrate and bio-substrate to and from biogas facilities in southern Sweden. The company has had a positive operational and financial development in recent years with several new customers and high capacity utilisation. Biogas production is a growing ...
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Scandinavian Biogas one of the Nordic region s largest private producers of biogas as vehicle fuel has acquired logistics service company Ekdalens Biotransporter a market leader in the transport of organic material to and from biogas facilities in southern Sweden. The acquisition is part of Scandinavian Biogas s strategy to achieve greater integration across the entire value chain from organic waste to produced biogas and bio-fertiliser and the capacity to offer comprehensive transport service to the biogas industry. Ekdalens Biotransporter is a market leader in the transport of organic material with a focus on substrate and bio-substrate to and from biogas facilities in southern Sweden. The company has had a positive operational and financial development in recent years with several new customers and high capacity utilisation. Biogas production is a growing ...
Bahrain s real estate market has outperformed many major investment destinations this year with the national pandemic response set to spur recovery across sectors reported the Gulf Daily News our sister publication citing leading property consultancy and chartered surveying firm Cavendish Maxwell. The kingdom s real estate sector has the advantage of being driven by fundamentals which have shown improvement since early this year it added. For further details visit https://www.gdnonline.com ...
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Bahrain s real estate market has outperformed many major investment destinations this year with the national pandemic response set to spur recovery across sectors reported the Gulf Daily News our sister publication citing leading property consultancy and chartered surveying firm Cavendish Maxwell. The kingdom s real estate sector has the advantage of being driven by fundamentals which have shown improvement since early this year it added. For further details visit https://www.gdnonline.com ...
GFH Financial Group (GFH) has announced that it has acquired a majority stake in Roebuck Asset Management a logistics and business space focused real estate asset manager with a major presence in the UK and European market. Roebuck which was founded in 2009 by Hugh Macdonald-Brown and Nick Rhodes has managed assets with a total investment value exceeding 1.4 billion covering over 15 million sq ft of floor area. The firm s primary focus has been on the acquisition and management of logistics assets with investments made to date in over 85 properties located in the UK and European countries to include Spain Belgium and Czech Republic. Roebuck also brings to bear additional expertise managing assets on behalf of an extensive and diverse group of institutional investors and UHNWIs from the UK South Africa India South Korea and Malaysia. div...
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GFH Financial Group (GFH) has announced that it has acquired a majority stake in Roebuck Asset Management a logistics and business space focused real estate asset manager with a major presence in the UK and European market. Roebuck which was founded in 2009 by Hugh Macdonald-Brown and Nick Rhodes has managed assets with a total investment value exceeding 1.4 billion covering over 15 million sq ft of floor area. The firm s primary focus has been on the acquisition and management of logistics assets with investments made to date in over 85 properties located in the UK and European countries to include Spain Belgium and Czech Republic. Roebuck also brings to bear additional expertise managing assets on behalf of an extensive and diverse group of institutional investors and UHNWIs from the UK South Africa India South Korea and Malaysia. div...
Leading Spanish infrastructure major Acciona said it has achieved a key milestone in the construction of the Jebel Ali desalination plant located in Dubai with the production of the first cubic meter of potable water. The plant equipped with energy-efficient seawater reverse osmosis (SWRO) technology is a critical project in the modernisation of the water sector being undertaken by Dubai Electricity & Water Authority (Dewa). Its capacity makes it one of the largest desalination plants in the UAE said Acciona the EPC contractor for Jebel Ali SWRO. Once the plant gets completed by 2021 it will produce 182 000 cu m of potable water per day serving a population of 700 000 inhabitants. It is being built in co-ordination with Besix the largest Belgian group operating in the construction of buildings and infrastructure sector. ...
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Leading Spanish infrastructure major Acciona said it has achieved a key milestone in the construction of the Jebel Ali desalination plant located in Dubai with the production of the first cubic meter of potable water. The plant equipped with energy-efficient seawater reverse osmosis (SWRO) technology is a critical project in the modernisation of the water sector being undertaken by Dubai Electricity & Water Authority (Dewa). Its capacity makes it one of the largest desalination plants in the UAE said Acciona the EPC contractor for Jebel Ali SWRO. Once the plant gets completed by 2021 it will produce 182 000 cu m of potable water per day serving a population of 700 000 inhabitants. It is being built in co-ordination with Besix the largest Belgian group operating in the construction of buildings and infrastructure sector. ...
The Red Sea Development Company (TRSDC) the developer behind the world s most ambitious regenerative tourism project has awarded contracts to two local firms - Red Sea International and the Facilities Management Company (FMCO) - to provide all maintenance security catering administrative and laundry services at the Red Sea Project s Construction Village coming up on the west coast of the kingdom. The two companies will each be responsible for the accommodation of up to 5 000 construction workers and ensuring the facility is managed in adherence to the highest living standards for all workers whether employed directly by TRSDC or by contractors. A dedicated 24/7 helpdesk will also be in operation for workers staying at the village stated the Saudi developer. Our Construction Village is an important element of the Phase One devel...
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The Red Sea Development Company (TRSDC) the developer behind the world s most ambitious regenerative tourism project has awarded contracts to two local firms - Red Sea International and the Facilities Management Company (FMCO) - to provide all maintenance security catering administrative and laundry services at the Red Sea Project s Construction Village coming up on the west coast of the kingdom. The two companies will each be responsible for the accommodation of up to 5 000 construction workers and ensuring the facility is managed in adherence to the highest living standards for all workers whether employed directly by TRSDC or by contractors. A dedicated 24/7 helpdesk will also be in operation for workers staying at the village stated the Saudi developer. Our Construction Village is an important element of the Phase One devel...
Businesses in the UAE are adapting quickly to new trends and technologies that are accelerating change within global logistics industry experts said during a recent virtual panel discussion hosted by Dubai Chamber of Commerce and Industry. The panel was organised as part of the 360 Dialogue Series and joined by Mahmood Al Bastaki Chief Operating Officer of DT World; Harj Dhaliwal Managing Director Middle East & India Virgin Hyperloop; and Yasir Jamal VP Supply Chain North Africa & Middle East Unilever and attended by over 100 participants. In his welcome remarks Hassan Al Hashemi Vice President of International Relations at Dubai Chamber of Commerce and Industry explained that the virtual event comes at a time when companies from around the world are leveraging Dubai s strategic geographic position and world-class logistics infrastructure to reposition their businesses as they prepare for a post-Covid recovery. Despite the unprecede...
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Businesses in the UAE are adapting quickly to new trends and technologies that are accelerating change within global logistics industry experts said during a recent virtual panel discussion hosted by Dubai Chamber of Commerce and Industry. The panel was organised as part of the 360 Dialogue Series and joined by Mahmood Al Bastaki Chief Operating Officer of DT World; Harj Dhaliwal Managing Director Middle East & India Virgin Hyperloop; and Yasir Jamal VP Supply Chain North Africa & Middle East Unilever and attended by over 100 participants. In his welcome remarks Hassan Al Hashemi Vice President of International Relations at Dubai Chamber of Commerce and Industry explained that the virtual event comes at a time when companies from around the world are leveraging Dubai s strategic geographic position and world-class logistics infrastructure to reposition their businesses as they prepare for a post-Covid recovery. Despite the unprecede...
Abu Dhabi s General Holding Corporation (Senaat) has announced that it has won approval from the shareholders of National Marine Dredging Company (NMDC) for merger with top Emirati engineering and construction group National Petroleum Construction Company (NPCC). The NMDC shareholders today (December 15) voted to approve their offer to combine NPCC with the dredging firm. The proposed transaction would create a new national and regional integrated EPC champion with an established footprint in key markets within Mena and South Asia. The combined group would be one of the largest integrated oil and gas and marine services EPC players in the region with integrated 2019 revenue of AED8.875 billion ( 2.41 billion) said the statement from Senaat. Once the transaction gets completed Senaat which is part of ADQ and other minority shareh...
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Abu Dhabi s General Holding Corporation (Senaat) has announced that it has won approval from the shareholders of National Marine Dredging Company (NMDC) for merger with top Emirati engineering and construction group National Petroleum Construction Company (NPCC). The NMDC shareholders today (December 15) voted to approve their offer to combine NPCC with the dredging firm. The proposed transaction would create a new national and regional integrated EPC champion with an established footprint in key markets within Mena and South Asia. The combined group would be one of the largest integrated oil and gas and marine services EPC players in the region with integrated 2019 revenue of AED8.875 billion ( 2.41 billion) said the statement from Senaat. Once the transaction gets completed Senaat which is part of ADQ and other minority shareh...
Shell Oman Marketing Company said it has won recognition for its Excellence in Industry Partnership with Construction & Infrastructure sector at the 8th edition of Dossier Construction s Infrastructure Awards & Summit 2020 held recently. It is a major operator of a multi downstream-business structure providing retail commercial lubricants marine bitumen and aviation fuel products and services in Oman. The coveted title recognized Shell Oman s commitment to the sultanate as a trusted energy partner which provides access to global knowhow world-class expertise and pioneering fuel products and lubricants solutions that help companies in Oman s construction and infrastructure sector stay profitable and sustainable. It also adds value to Oman s construction and infrastructure businesses by addressing their commercial needs;...
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Shell Oman Marketing Company said it has won recognition for its Excellence in Industry Partnership with Construction & Infrastructure sector at the 8th edition of Dossier Construction s Infrastructure Awards & Summit 2020 held recently. It is a major operator of a multi downstream-business structure providing retail commercial lubricants marine bitumen and aviation fuel products and services in Oman. The coveted title recognized Shell Oman s commitment to the sultanate as a trusted energy partner which provides access to global knowhow world-class expertise and pioneering fuel products and lubricants solutions that help companies in Oman s construction and infrastructure sector stay profitable and sustainable. It also adds value to Oman s construction and infrastructure businesses by addressing their commercial needs;...
Foreign investors in six real estate companies listed in Emirati financial markets own nearly 8.4 billion shares worth AED21.2 billion ( 5.7 billion) said a report. These include top developers such as These include top developers such as Emaar group and its subsidiary Emaar Development Aldar Damac Union Properties and Diar Developments. The majority of companies listed in the country s financial markets including real estate companies allow foreign ownership of up to 49 percent of capital. Recent figures issued by the Abu Dhabi and Dubai financial markets showed that the significant rise in the number and value of shares owned by foreign investors in real estate companies followed a surge in their share prices in recent months. Statistics from the financial markets point out that foreign ownership of ...
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Foreign investors in six real estate companies listed in Emirati financial markets own nearly 8.4 billion shares worth AED21.2 billion ( 5.7 billion) said a report. These include top developers such as These include top developers such as Emaar group and its subsidiary Emaar Development Aldar Damac Union Properties and Diar Developments. The majority of companies listed in the country s financial markets including real estate companies allow foreign ownership of up to 49 percent of capital. Recent figures issued by the Abu Dhabi and Dubai financial markets showed that the significant rise in the number and value of shares owned by foreign investors in real estate companies followed a surge in their share prices in recent months. Statistics from the financial markets point out that foreign ownership of ...
Honeywell will be showcasing its latest technologies to support critical sectors of the economy including healthcare retail logistics and warehousing in the Covid-19 era at the Gitex Technology Week which opens tomorrow (December 6). The event will run untill December 10 at the Dubai World Trade Centre. Since the start of this year the technological transformation across sectors has been profound. Now more than ever technology-led productivity and operational improvements are vital. At a crucial time like this Gitex is the right platform for us to demonstrate best practices and share knowledge with industry stakeholders said Miroslav Kafedzhiev VP and GM for Honeywell Safety and Productivity Solutions High-Growth Regions Intelligent Life Care Global Tracking and Search & Rescue. Our theme for Gitex this year is Enable Now&rsquo...
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Honeywell will be showcasing its latest technologies to support critical sectors of the economy including healthcare retail logistics and warehousing in the Covid-19 era at the Gitex Technology Week which opens tomorrow (December 6). The event will run untill December 10 at the Dubai World Trade Centre. Since the start of this year the technological transformation across sectors has been profound. Now more than ever technology-led productivity and operational improvements are vital. At a crucial time like this Gitex is the right platform for us to demonstrate best practices and share knowledge with industry stakeholders said Miroslav Kafedzhiev VP and GM for Honeywell Safety and Productivity Solutions High-Growth Regions Intelligent Life Care Global Tracking and Search & Rescue. Our theme for Gitex this year is Enable Now&rsquo...
The Cooperative Logistics Network the first international freight forwarding network with global coverage to launch instant quoting ability for its members has set a new coverage record by adding its 300th agent. One major factor contributing to this growth is the fact that all members have had to pass a rigorous selection process so only forwarders of the highest standards are part of the network. I am very excited about the sharp rise in the number of our members which is even more worthwhile bearing in mind the pandemic and the crumbling economy worldwide. This increase undoubtedly demonstrates the efficiency cooperation among partners productiveness and expediency of the network which has been operational for the last 5 years says Antonio Torres the President and Founder of The Cooperative Logistics Network. Every year the Coop organises an Annual Meeting which brings t...
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The Cooperative Logistics Network the first international freight forwarding network with global coverage to launch instant quoting ability for its members has set a new coverage record by adding its 300th agent. One major factor contributing to this growth is the fact that all members have had to pass a rigorous selection process so only forwarders of the highest standards are part of the network. I am very excited about the sharp rise in the number of our members which is even more worthwhile bearing in mind the pandemic and the crumbling economy worldwide. This increase undoubtedly demonstrates the efficiency cooperation among partners productiveness and expediency of the network which has been operational for the last 5 years says Antonio Torres the President and Founder of The Cooperative Logistics Network. Every year the Coop organises an Annual Meeting which brings t...
October has emerged as a strong month for Dubai s residential real estate with 3 395 property sales transactions worth AED6.93 billion ( 1.8 billion) thus recording a 37.2% jump in the off-plan segment and 62.8% in the secondary segment This brings the year-to-date total to 27 815 sales transactions worth AED 57.43 billion ( 15.6 billion) according to Dubai s official sales price index Mo asher. This remained a record-breaking month for secondary/ready villas/townhouses with 665 unit transfers 1013 villas/townhouses and a total of 2 031 apartments were transferred in October stated the index launched by Dubai Land Department (DLD) in cooperation with Property Finder. The base year for Mo asher is 2012 and the base month for the monthly index is January 2012 with the base quarter for the quarterly index being Q1 2012. Based on Property ...
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October has emerged as a strong month for Dubai s residential real estate with 3 395 property sales transactions worth AED6.93 billion ( 1.8 billion) thus recording a 37.2% jump in the off-plan segment and 62.8% in the secondary segment This brings the year-to-date total to 27 815 sales transactions worth AED 57.43 billion ( 15.6 billion) according to Dubai s official sales price index Mo asher. This remained a record-breaking month for secondary/ready villas/townhouses with 665 unit transfers 1013 villas/townhouses and a total of 2 031 apartments were transferred in October stated the index launched by Dubai Land Department (DLD) in cooperation with Property Finder. The base year for Mo asher is 2012 and the base month for the monthly index is January 2012 with the base quarter for the quarterly index being Q1 2012. Based on Property ...
Saudi Arabia said the total value of awarded contracts for the third quarter fell to SR7.4 billion ( 2 billion) as Covid-19 related strains on government and private sector entities persist leading to a slowdown in the construction sector. The total value of awarded contracts through the first three quarters of 2020 reached SR63.6 billion ( 17 billion) stated US-Saudi Business Council (USSBC) in its Q3 Contract Awards Index. The index fell to 105.26 points by the end of the third quarter steadily declining through the quarter as the slowdown in the construction sector continued. A majority of the awarded contracts were in transportation power and real estate which accounted for approximately 59% of the total value of contracts awarded. Water urban development and petrochemicals accounted for 32% of the total value while...
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Saudi Arabia said the total value of awarded contracts for the third quarter fell to SR7.4 billion ( 2 billion) as Covid-19 related strains on government and private sector entities persist leading to a slowdown in the construction sector. The total value of awarded contracts through the first three quarters of 2020 reached SR63.6 billion ( 17 billion) stated US-Saudi Business Council (USSBC) in its Q3 Contract Awards Index. The index fell to 105.26 points by the end of the third quarter steadily declining through the quarter as the slowdown in the construction sector continued. A majority of the awarded contracts were in transportation power and real estate which accounted for approximately 59% of the total value of contracts awarded. Water urban development and petrochemicals accounted for 32% of the total value while...
Construction work has begun on the Tolerance Neighbourhood Project 2 featuring 78 residential units at Al Salamah in the northern emirate of Umm Al Qaiwain. The development which is coming up on a 52 593 sq m area is likely to be completed by the first quarter of 2022. The launch of the work coincides with the country s 49th National Day celebrations and upon the directives of HH Sheikh Saud bin Rashid Al Mu alla Supreme Council Member and Ruler of Umm Al Qaiwain reported state news agency Wam. Announcing the start of the project Sheikh Majid bin Saud bin Rashid Al Mualla Chairman of the Board of Trustees of the Saud bin Rashid Al Mu alla Charitable and Humanitarian Establishment said the development which is coming up on a 52 593 sq m area is located next to the site of Tolerance Neighbourhood Project 1. Rashid Hamad ...
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Construction work has begun on the Tolerance Neighbourhood Project 2 featuring 78 residential units at Al Salamah in the northern emirate of Umm Al Qaiwain. The development which is coming up on a 52 593 sq m area is likely to be completed by the first quarter of 2022. The launch of the work coincides with the country s 49th National Day celebrations and upon the directives of HH Sheikh Saud bin Rashid Al Mu alla Supreme Council Member and Ruler of Umm Al Qaiwain reported state news agency Wam. Announcing the start of the project Sheikh Majid bin Saud bin Rashid Al Mualla Chairman of the Board of Trustees of the Saud bin Rashid Al Mu alla Charitable and Humanitarian Establishment said the development which is coming up on a 52 593 sq m area is located next to the site of Tolerance Neighbourhood Project 1. Rashid Hamad ...
Cityscape s Real Estate Summit a special one-off edition of the annual event successfully delivered over 100 hours of important industry-specific talks as key real estate ecosystem representatives converged to stimulate business make meaningful connections and share knowledge over two days at Dubai World Trade Centre (DWTC). Over 1 700 industry professionals attended one of the first physical B2B events held in Dubai during the Covid-19 pandemic within the safe controlled and hygienic setting at DWTC delivered via stringent Informa AllSecure health and safety standards and protocols. Majida Ali Rashid CEO of the Real Estate Promotion and Investment Management sector at Dubai Land Department (DLD) said: The significance of the department s partnership with Cityscape is not to be understated. The event has and will continue to be a central place for local regional and international real est...
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Cityscape s Real Estate Summit a special one-off edition of the annual event successfully delivered over 100 hours of important industry-specific talks as key real estate ecosystem representatives converged to stimulate business make meaningful connections and share knowledge over two days at Dubai World Trade Centre (DWTC). Over 1 700 industry professionals attended one of the first physical B2B events held in Dubai during the Covid-19 pandemic within the safe controlled and hygienic setting at DWTC delivered via stringent Informa AllSecure health and safety standards and protocols. Majida Ali Rashid CEO of the Real Estate Promotion and Investment Management sector at Dubai Land Department (DLD) said: The significance of the department s partnership with Cityscape is not to be understated. The event has and will continue to be a central place for local regional and international real est...
The Abraham Accords between Israel the UAE and Bahrain will help grow the UAE s position as a logistics hub for the rest of Asian economies benefiting India as well said a top Indian diplomat adding that the newly emerging domains during and after Covid-19 will open up fresh opportunities for both countries.. In an exclusive interview with state news agency Wam Dr S Jaishankar External Affairs Minister of India expressed confidence that the new US administration under president-elect Joe Biden will continue the existing excellent ties with India because of structural linkages between the two countries and personal rapport between leaders. The Abraham Accords will impact the entire world not the region only stated the top diplomat adding that it will bring new economic combinations and create new logistical opportunities for the countries in the region and beyond. ...
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The Abraham Accords between Israel the UAE and Bahrain will help grow the UAE s position as a logistics hub for the rest of Asian economies benefiting India as well said a top Indian diplomat adding that the newly emerging domains during and after Covid-19 will open up fresh opportunities for both countries.. In an exclusive interview with state news agency Wam Dr S Jaishankar External Affairs Minister of India expressed confidence that the new US administration under president-elect Joe Biden will continue the existing excellent ties with India because of structural linkages between the two countries and personal rapport between leaders. The Abraham Accords will impact the entire world not the region only stated the top diplomat adding that it will bring new economic combinations and create new logistical opportunities for the countries in the region and beyond. ...
Senegal is to boost its position as a trade hub for Africa by joining the World Logistics Passport a major initiative by Dubai to link nations around the world and increase South-South trade. The framework agreement was signed by Amadou Hott Minister of Economy Planning and Cooperation the Government of Senegal and Sultan Ahmed Bin Sulayem Chairman of Dubai s Ports Customs and Free Zone Corporation. Thanks to the leadership of President Macky Sall Senegal is the second country to formally join the scheme after Colombia. The World Logistics Passport has been created to overcome trade impediments such as logistics inefficiency that currently limit the growth of trade between developing markets. South-South trade is already worth an estimated 4.28 trillion annually more than half of total developing countries exports in 2018 according to the WTO. /d...
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Senegal is to boost its position as a trade hub for Africa by joining the World Logistics Passport a major initiative by Dubai to link nations around the world and increase South-South trade. The framework agreement was signed by Amadou Hott Minister of Economy Planning and Cooperation the Government of Senegal and Sultan Ahmed Bin Sulayem Chairman of Dubai s Ports Customs and Free Zone Corporation. Thanks to the leadership of President Macky Sall Senegal is the second country to formally join the scheme after Colombia. The World Logistics Passport has been created to overcome trade impediments such as logistics inefficiency that currently limit the growth of trade between developing markets. South-South trade is already worth an estimated 4.28 trillion annually more than half of total developing countries exports in 2018 according to the WTO. /d...
JLL a leading professional services firm that specialises in real estate and investment management has signed a Vested agreement designed to transform bp s workplaces across the globe to inspire bp employees and support the energy company s Net Zero Carbon ambitions. A Vested partnership is a highly collaborative win-win relationship in which both parties are equally committed to each other s success leading to improved service reduced costs and creating value for both parties that didn t exist before said the statement from JLL. As per the deal JLL will work with bp on real estate portfolio management projects and workplace management. The industry expert has been working with bp for more than a decade and with this new assignment it will provide real estate portfolio management services across 200 sites globally from January 2021. ...
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JLL a leading professional services firm that specialises in real estate and investment management has signed a Vested agreement designed to transform bp s workplaces across the globe to inspire bp employees and support the energy company s Net Zero Carbon ambitions. A Vested partnership is a highly collaborative win-win relationship in which both parties are equally committed to each other s success leading to improved service reduced costs and creating value for both parties that didn t exist before said the statement from JLL. As per the deal JLL will work with bp on real estate portfolio management projects and workplace management. The industry expert has been working with bp for more than a decade and with this new assignment it will provide real estate portfolio management services across 200 sites globally from January 2021. ...
Kanoo Logistics a fully owned business division of Yusuf bin Ahmed Kanoo Group (YBA Kanoo) and a reputable regional freight forwarding company has appointed Yousif Khalifa Al Manea as Division Chief Executive Officer. Al Manea will be responsible for maintaining Kanoo Logistics position as a leader in its field in the region and will implement strategies to enhance its global presence. An Industrial Engineer who has been with YBA Kanoo in various positions since 2007 and have grown to lead Kanoo Logistics on an acting role for almost a year Al Manea has been pivotal in developing and maintaining relationships with major strategic partners. He has also played a role in establishing the Door-to-Door service which Kanoo Logistics is known for. Commenting on the appointment Fahad Fawzi Kanoo President of Kanoo Logistics said: Al Manea is a ...
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Kanoo Logistics a fully owned business division of Yusuf bin Ahmed Kanoo Group (YBA Kanoo) and a reputable regional freight forwarding company has appointed Yousif Khalifa Al Manea as Division Chief Executive Officer. Al Manea will be responsible for maintaining Kanoo Logistics position as a leader in its field in the region and will implement strategies to enhance its global presence. An Industrial Engineer who has been with YBA Kanoo in various positions since 2007 and have grown to lead Kanoo Logistics on an acting role for almost a year Al Manea has been pivotal in developing and maintaining relationships with major strategic partners. He has also played a role in establishing the Door-to-Door service which Kanoo Logistics is known for. Commenting on the appointment Fahad Fawzi Kanoo President of Kanoo Logistics said: Al Manea is a ...
The Big 5 a leading event for the construction industry launched its inaugural digital festival featuring representatives from over 500 construction brands and more than 130 expert speakers from 23 countries. Running until November 26 the Big 5 Digital Festival is being attended by thousands of industry professionals from around the world said the organisers. Opening the digital event of The Big 5 Josine Heijmans Vice President - Construction at dmg events said: It goes without saying that we would have loved to meet you face to face at the Dubai World Trade Centre just as we did for the past 40 years. But the pandemic has shaped unprecedented changes - some temporary some irreversible - in our lives markets and business models. Today construction players are tasked to navigate through an unprecedented situation leverage an impending disruption...
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The Big 5 a leading event for the construction industry launched its inaugural digital festival featuring representatives from over 500 construction brands and more than 130 expert speakers from 23 countries. Running until November 26 the Big 5 Digital Festival is being attended by thousands of industry professionals from around the world said the organisers. Opening the digital event of The Big 5 Josine Heijmans Vice President - Construction at dmg events said: It goes without saying that we would have loved to meet you face to face at the Dubai World Trade Centre just as we did for the past 40 years. But the pandemic has shaped unprecedented changes - some temporary some irreversible - in our lives markets and business models. Today construction players are tasked to navigate through an unprecedented situation leverage an impending disruption...
Naqel s Pharma division has played a major role in extending its supply chain solutions towards Covid-19 mitigation efforts by Saudi Arabia s Ministry of Health. During the onset of the Covid-19 pandemic Naqel played an important role in the transportation of Covid-19 samples from various healthcare service providers in the Kingdom to the testing labs. Besides Naqel processed and cleared 13 air charters and 78 trailer loads of medical consignments for the Ministry of Health to support the Kingdom s fight against the pandemic. The next phase of Covid-19 mitigation involves express transportation and distribution of Covid-19 vaccines from vaccine manufacturers around the world to our customers doorsteps in the Kingdom. Since 2018 Naqel has invested over SR250 million ( 66.66 million) in developing its temperature-controlled logistics infrastructure ...
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Naqel s Pharma division has played a major role in extending its supply chain solutions towards Covid-19 mitigation efforts by Saudi Arabia s Ministry of Health. During the onset of the Covid-19 pandemic Naqel played an important role in the transportation of Covid-19 samples from various healthcare service providers in the Kingdom to the testing labs. Besides Naqel processed and cleared 13 air charters and 78 trailer loads of medical consignments for the Ministry of Health to support the Kingdom s fight against the pandemic. The next phase of Covid-19 mitigation involves express transportation and distribution of Covid-19 vaccines from vaccine manufacturers around the world to our customers doorsteps in the Kingdom. Since 2018 Naqel has invested over SR250 million ( 66.66 million) in developing its temperature-controlled logistics infrastructure ...
On the occasion of two years to FIFA World Cup Qatar 2022 countdown Sheikh Abdulla bin Fahad bin Jassem bin Jabor Al Thani GWC Chairman the official logistics provider for the tournament has commended the immense efforts of the nation towards the development and completion of the various infrastructure for the world s largest single sport event under a united and sustainable vision. In 2022 all eyes will turn to Qatar and delivering a successful FIFA World Cup tournament will require the maximum application of our expertise and effort for an unprecedented tournament never before experienced in World Cup history he commented in a statement yesterday (November 21. November 21 marked exactly two years until the next and groundbreaking edition of FIFA World Cup. Logistics will play a significant role during the tournament making GWC s fully integrated world class logistics solutions including sports and event logistics servic...
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On the occasion of two years to FIFA World Cup Qatar 2022 countdown Sheikh Abdulla bin Fahad bin Jassem bin Jabor Al Thani GWC Chairman the official logistics provider for the tournament has commended the immense efforts of the nation towards the development and completion of the various infrastructure for the world s largest single sport event under a united and sustainable vision. In 2022 all eyes will turn to Qatar and delivering a successful FIFA World Cup tournament will require the maximum application of our expertise and effort for an unprecedented tournament never before experienced in World Cup history he commented in a statement yesterday (November 21. November 21 marked exactly two years until the next and groundbreaking edition of FIFA World Cup. Logistics will play a significant role during the tournament making GWC s fully integrated world class logistics solutions including sports and event logistics servic...
Autodesk a leader in 3D design and engineering software has expanded its construction cloud portfolio with powerful project management quantification and design co-ordination products. Announcing its new set of products - Autodesk Build Autodesk Quantify and Autodesk BIM Collaborate - the company said these will empower general contractors specialty trades designers and owners to drive better business outcomes. Built on a unified platform and common data environment the new products will help further connect data workflows and teams throughout the entire building lifecycle from design to operations. According to Autodesk the construction teams will have a comprehensive construction management platform with all data in one central location to simplify collaboration proactively anticipate project changes and provide data-driven guidance for organizational impro...
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Autodesk a leader in 3D design and engineering software has expanded its construction cloud portfolio with powerful project management quantification and design co-ordination products. Announcing its new set of products - Autodesk Build Autodesk Quantify and Autodesk BIM Collaborate - the company said these will empower general contractors specialty trades designers and owners to drive better business outcomes. Built on a unified platform and common data environment the new products will help further connect data workflows and teams throughout the entire building lifecycle from design to operations. According to Autodesk the construction teams will have a comprehensive construction management platform with all data in one central location to simplify collaboration proactively anticipate project changes and provide data-driven guidance for organizational impro...
Leading Swiss construction materials group Sika has further expanded its production capacity in the UAE with the commissioning of a new manufacturing facility in Dubai. In addition to concrete admixtures epoxy resins are now being produced locally for the target market flooring. The site in Dubai was established in 2018 as a strategic distribution and sales centre for the region said the statement from the company. Sika has decided to invest in the expansion of its manufacturing facilities at the Dubai site in order to increase flexibility in production shorten delivery times optimize cost structures and reduce inventories. The locally produced epoxy resins are an important component of Sika s flooring solutions said the Swiss company in its statement. These products are used to seal the surfaces of industrial floors and floo...
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Leading Swiss construction materials group Sika has further expanded its production capacity in the UAE with the commissioning of a new manufacturing facility in Dubai. In addition to concrete admixtures epoxy resins are now being produced locally for the target market flooring. The site in Dubai was established in 2018 as a strategic distribution and sales centre for the region said the statement from the company. Sika has decided to invest in the expansion of its manufacturing facilities at the Dubai site in order to increase flexibility in production shorten delivery times optimize cost structures and reduce inventories. The locally produced epoxy resins are an important component of Sika s flooring solutions said the Swiss company in its statement. These products are used to seal the surfaces of industrial floors and floo...
The US has announced that it has completed substantial construction of the Expo 2020 Dubai country pavilion in partnership with its global design and production partner Thinkwell Group reported state news agency Wam. The US Mission to the UAE today (November 18) announced the completion of substantial construction of the US Pavilion at Expo 2020 Dubai. Working with global design and production partner Thinkwell Group the US Pavilion will present a unique experience for visitors celebrating American values and culture with the theme Life Liberty and the Pursuit of the Future. Guests will learn how innovation and creativity thrive in an environment powered by American freedoms. US Ambassador to the UAE and Commissioner General of the US Pavilion John Rakolta Jr. and Counselor of the US Department of State T. Ulrich B...
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The US has announced that it has completed substantial construction of the Expo 2020 Dubai country pavilion in partnership with its global design and production partner Thinkwell Group reported state news agency Wam. The US Mission to the UAE today (November 18) announced the completion of substantial construction of the US Pavilion at Expo 2020 Dubai. Working with global design and production partner Thinkwell Group the US Pavilion will present a unique experience for visitors celebrating American values and culture with the theme Life Liberty and the Pursuit of the Future. Guests will learn how innovation and creativity thrive in an environment powered by American freedoms. US Ambassador to the UAE and Commissioner General of the US Pavilion John Rakolta Jr. and Counselor of the US Department of State T. Ulrich B...
Leading industry experts highlighted the role of technology in the real estate sector s recovery in 2021 the importance of adopting new technology strategies and impact of the technology trends at a panel discussion during Cityscape Real Estate Summit. It was attended by representatives from Devmark the recently expanded UAE-based multi-disciplinary real estate organisation ThinkLab and eiight the integrated property software solution who underscored the importance of UAE developers bridging the technology gap in the real estate industry. Devmark pointed out the importance of embracing new technology in the real estate industry as a critical element for survival in 2021. Specialising in project sales and marketing Devmark said it is at the forefront of the industry and the most experienced firm of its kind in the region. During the panel discussion W...
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Leading industry experts highlighted the role of technology in the real estate sector s recovery in 2021 the importance of adopting new technology strategies and impact of the technology trends at a panel discussion during Cityscape Real Estate Summit. It was attended by representatives from Devmark the recently expanded UAE-based multi-disciplinary real estate organisation ThinkLab and eiight the integrated property software solution who underscored the importance of UAE developers bridging the technology gap in the real estate industry. Devmark pointed out the importance of embracing new technology in the real estate industry as a critical element for survival in 2021. Specialising in project sales and marketing Devmark said it is at the forefront of the industry and the most experienced firm of its kind in the region. During the panel discussion W...
Dubai Land Department today (November 17) announced the launch of Real Estate Development Guide at the ongoing Cityscape s Real Estate Summit 2020. It was prepared by DLD in cooperation with its partners in the public and private sectors. The guide aims to list all the services provided by the various licensing entities in Dubai to real estate developers to facilitate the real estate development process and make it more transparent. It was launched by Mattar Mohammed Al Tayer Director-General Chairman of the Board of Executive Directors of Roads and Transport Authority (RTA) at the Dubai event. During his visit to the DLD s stand Al Tayer viewed the content of the guide which includes all services provided to the real estate developer in Dubai from the various parties involved in the real estate development process. div...
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Dubai Land Department today (November 17) announced the launch of Real Estate Development Guide at the ongoing Cityscape s Real Estate Summit 2020. It was prepared by DLD in cooperation with its partners in the public and private sectors. The guide aims to list all the services provided by the various licensing entities in Dubai to real estate developers to facilitate the real estate development process and make it more transparent. It was launched by Mattar Mohammed Al Tayer Director-General Chairman of the Board of Executive Directors of Roads and Transport Authority (RTA) at the Dubai event. During his visit to the DLD s stand Al Tayer viewed the content of the guide which includes all services provided to the real estate developer in Dubai from the various parties involved in the real estate development process. div...
Texel Air an established private airline and MRO based in the Kingdom of Bahrain is gearing up to host an interactive and high level webinar on November 18 2020 under the patronage of His Excellency Engineer Kamal bin Ahmed Mohammed Minister of Transportation and Telecommunications of the Kingdom of Bahrain highlighting Innovation in Aviation and Logistics . The virtual event will be a unique chance to hear from senior industry leaders from the private sector and relevant government organisations in the Kingdom related to managing and promoting the growth of this key industry a statement said. The webinar will cover an exciting panel discussion featuring participation from: George Chisholm Chief Executive Officer Chisholm Enterprises; Mike Andrews Director of Conversion/Sales PEMCO Conversions; Desmond Vertannes Chairman e-Cargoware; and Ali Al Mudaifa Direc...
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Texel Air an established private airline and MRO based in the Kingdom of Bahrain is gearing up to host an interactive and high level webinar on November 18 2020 under the patronage of His Excellency Engineer Kamal bin Ahmed Mohammed Minister of Transportation and Telecommunications of the Kingdom of Bahrain highlighting Innovation in Aviation and Logistics . The virtual event will be a unique chance to hear from senior industry leaders from the private sector and relevant government organisations in the Kingdom related to managing and promoting the growth of this key industry a statement said. The webinar will cover an exciting panel discussion featuring participation from: George Chisholm Chief Executive Officer Chisholm Enterprises; Mike Andrews Director of Conversion/Sales PEMCO Conversions; Desmond Vertannes Chairman e-Cargoware; and Ali Al Mudaifa Direc...
The real estate sector is vital for the growth of the UAE s economy and it actively contributes to the prosperity of Dubai and is fundamental to the urban expansion and development of the city said a top official at Cityscape Real Estate Summit. Cityscape s Real Estate Summit opened its doors today (November 16) with Mattar Mohammed Al Tayer Director-General Chairman of the Board of Executive Directors of the Roads and Transport Authority inaugurating the one-off edition of...
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The real estate sector is vital for the growth of the UAE s economy and it actively contributes to the prosperity of Dubai and is fundamental to the urban expansion and development of the city said a top official at Cityscape Real Estate Summit. Cityscape s Real Estate Summit opened its doors today (November 16) with Mattar Mohammed Al Tayer Director-General Chairman of the Board of Executive Directors of the Roads and Transport Authority inaugurating the one-off edition of...
As the world prepares for the next normal so does construction sector. Today the sector s big players are tasked with not only navigating through an ongoing crisis but also to accelerate an impending disruption which will be crucial for the recovery of an industry accounting for 13% of the world s GDP. From November 23 to 26 industry leaders from around the globe will meet online at The Big 5 Digital Festival to address digitisation sustainable practices and new business models among others to drive impact boost recovery efforts and build the construction industry of the future. World-famous organisations including Autodesk Caparol Paints Emirates Steel Industries Etisalat Facilities Management Ferroli SpA Lenovo Masdar City Raknor LLC RAKTherm and UD Trucks are among the over 500 brands represented by exhibitors in the digital event. Showcasing t...
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As the world prepares for the next normal so does construction sector. Today the sector s big players are tasked with not only navigating through an ongoing crisis but also to accelerate an impending disruption which will be crucial for the recovery of an industry accounting for 13% of the world s GDP. From November 23 to 26 industry leaders from around the globe will meet online at The Big 5 Digital Festival to address digitisation sustainable practices and new business models among others to drive impact boost recovery efforts and build the construction industry of the future. World-famous organisations including Autodesk Caparol Paints Emirates Steel Industries Etisalat Facilities Management Ferroli SpA Lenovo Masdar City Raknor LLC RAKTherm and UD Trucks are among the over 500 brands represented by exhibitors in the digital event. Showcasing t...
Challenges facing the real estate sector both at home and globally will come into sharp focus in a range of keynote speeches and sessions featuring top industry experts at Cityscape s Real Estate Summit this week a one-off edition of the annual event organised by Informa Markets in partnership with the Dubai Land Department. The summit will feature over 100 hours of powerful keynote speeches presentations and tactical talks covering industry and market analysis with focus on all asset classes - from residential to commercial industrial retail and hospitality over two days and will be held free of charge to help the industry get back to business. Assuming a primary role in the conference and spearheading discussions on positive and lasting change for the industry officials from Dubai s Government will host pivotal keynote presentations led by Sultan Butti bin Mejren Director General o...
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Challenges facing the real estate sector both at home and globally will come into sharp focus in a range of keynote speeches and sessions featuring top industry experts at Cityscape s Real Estate Summit this week a one-off edition of the annual event organised by Informa Markets in partnership with the Dubai Land Department. The summit will feature over 100 hours of powerful keynote speeches presentations and tactical talks covering industry and market analysis with focus on all asset classes - from residential to commercial industrial retail and hospitality over two days and will be held free of charge to help the industry get back to business. Assuming a primary role in the conference and spearheading discussions on positive and lasting change for the industry officials from Dubai s Government will host pivotal keynote presentations led by Sultan Butti bin Mejren Director General o...
Quality local real estate developments cutting-edge proptech and high-profile international investment opportunities are some of the products set to be showcased by exhibitors from across the real estate ecosystem at Cityscape s Real Estate Summit next week a one-off edition of the annual event organized by Informa Markets. This year s special edition which takes place at Dubai World Trade Centre on November 16and 17 was co-created with the regional real estate industry as a direct response to market demand for a business-to-business meeting place and knowledge sharing destination for the real estate community following the Covid-19 pandemic. The summit will feature over 100 hours of powerful keynote speeches presentations and tactical talks covering industry and market analysis with focus on all asset classes from residential to commercial industrial retail and hospitality over two da...
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Quality local real estate developments cutting-edge proptech and high-profile international investment opportunities are some of the products set to be showcased by exhibitors from across the real estate ecosystem at Cityscape s Real Estate Summit next week a one-off edition of the annual event organized by Informa Markets. This year s special edition which takes place at Dubai World Trade Centre on November 16and 17 was co-created with the regional real estate industry as a direct response to market demand for a business-to-business meeting place and knowledge sharing destination for the real estate community following the Covid-19 pandemic. The summit will feature over 100 hours of powerful keynote speeches presentations and tactical talks covering industry and market analysis with focus on all asset classes from residential to commercial industrial retail and hospitality over two da...
P&O Maritime Logistics a worldwide marine solutions and logistics company has secured two ground-breaking contracts for the Multi Carrying Vessel (MCV) Topaz Amur after three years of delivering Super Out of Gauge Project Cargo from the Baltic and Black Seas to the Caspian Sea navigating the complex and shallow Russian inland waterways. The first project solidifies Topaz Amur s place in the industrial projects sector with the P&O Maritime Logistics-owned RoRo Deck Carrier embarking for a tandem transport of oversize cargos. Future target cargo will include large modules reactors pressure vessels distillation columns cooling units power turbine components and other breakbulk cargo. In continuation of the partnership with Danish transport and logistics solutions provider Blue Water Shipping the second project will see Topaz Amur loaded in Esbjerg Denmark wi...
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P&O Maritime Logistics a worldwide marine solutions and logistics company has secured two ground-breaking contracts for the Multi Carrying Vessel (MCV) Topaz Amur after three years of delivering Super Out of Gauge Project Cargo from the Baltic and Black Seas to the Caspian Sea navigating the complex and shallow Russian inland waterways. The first project solidifies Topaz Amur s place in the industrial projects sector with the P&O Maritime Logistics-owned RoRo Deck Carrier embarking for a tandem transport of oversize cargos. Future target cargo will include large modules reactors pressure vessels distillation columns cooling units power turbine components and other breakbulk cargo. In continuation of the partnership with Danish transport and logistics solutions provider Blue Water Shipping the second project will see Topaz Amur loaded in Esbjerg Denmark wi...
Leading heavy lift crane specialist The Men From Marr s (Marr Contracting) said it has collaborated with tech start-up BuildAI to fast-track artificial intelligence (AI) on work sites and take the construction industry into the future. In what is the first strategic partnership and significant investment since BuildAI launched in 2019 The Men From Marr s have taken a minority stake in the start-up and their cranes will be the first in the world to adopt BuildAI technology a cloud based AI software system that automatically reports construction progress. The partnership brings together two of the most innovative companies in Australia s construction industry in what is poised to be a smartphone moment that will revolutionise work sites in the same way that apps replaced ATMs and Uber disrupted the taxi industry. Marr s Managing Director ...
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Leading heavy lift crane specialist The Men From Marr s (Marr Contracting) said it has collaborated with tech start-up BuildAI to fast-track artificial intelligence (AI) on work sites and take the construction industry into the future. In what is the first strategic partnership and significant investment since BuildAI launched in 2019 The Men From Marr s have taken a minority stake in the start-up and their cranes will be the first in the world to adopt BuildAI technology a cloud based AI software system that automatically reports construction progress. The partnership brings together two of the most innovative companies in Australia s construction industry in what is poised to be a smartphone moment that will revolutionise work sites in the same way that apps replaced ATMs and Uber disrupted the taxi industry. Marr s Managing Director ...
Khansaheb Investment a leading UAE business conglomerate and the owner of top contractor said it has bought back its shares from Interserve International Limited. Interserve previously owned shares in three Khansaheb companies Khansaheb Civil Engineering (Contracting) Khansaheb Group (facilities management) and Khansaheb Hussain (oilfield contracting). With the buy-back Khansaheb Investment is now the primary owner of all its group companies. On the strategic move Chairman Tariq Hussain Khansaheb said: We are pleased to announce the successful acquisition of Interserve s shares in three of our companies as we reclaim full ownership of our assets. We are confident Khansaheb Civil Engineering and Khansaheb Group will continue to deliver an excellent service to our customers maintaining them as a Contractor ...
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Khansaheb Investment a leading UAE business conglomerate and the owner of top contractor said it has bought back its shares from Interserve International Limited. Interserve previously owned shares in three Khansaheb companies Khansaheb Civil Engineering (Contracting) Khansaheb Group (facilities management) and Khansaheb Hussain (oilfield contracting). With the buy-back Khansaheb Investment is now the primary owner of all its group companies. On the strategic move Chairman Tariq Hussain Khansaheb said: We are pleased to announce the successful acquisition of Interserve s shares in three of our companies as we reclaim full ownership of our assets. We are confident Khansaheb Civil Engineering and Khansaheb Group will continue to deliver an excellent service to our customers maintaining them as a Contractor ...
IQ Robotics an artificial intelligence (AI)-driven robotic business that s spearheading the digital transformation of the logistics sector has partnered with Brands For Less Group as part of a multi-million-dirham agreement that would comprise 160 robots with a capacity of processing 150 000 pieces per day. The UAE is pivoting the Covid-19 challenges to further develop and accelerate the pace of digitalisation with a growing number of organisations in the UAE prioritising digital transformation over the next two years said the statement from IQ Robotics. The robotics industry had always been prepared for the future through an advanced approach that IQ Robotics is proudly supplying the regional logistic sector with whether for e-commerce retail or any business that would benefit from a contactless robotics facility it stated. The UAE government&rsquo...
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IQ Robotics an artificial intelligence (AI)-driven robotic business that s spearheading the digital transformation of the logistics sector has partnered with Brands For Less Group as part of a multi-million-dirham agreement that would comprise 160 robots with a capacity of processing 150 000 pieces per day. The UAE is pivoting the Covid-19 challenges to further develop and accelerate the pace of digitalisation with a growing number of organisations in the UAE prioritising digital transformation over the next two years said the statement from IQ Robotics. The robotics industry had always been prepared for the future through an advanced approach that IQ Robotics is proudly supplying the regional logistic sector with whether for e-commerce retail or any business that would benefit from a contactless robotics facility it stated. The UAE government&rsquo...
The construction finance sector is ripe for change in the Middle East and North Africa (Mena) region according to a report by GlobalData. This report comes following recent news from the G20 Global Infrastructure (GI) Hub that the Mena region is one of the fastest growing regions globally for private investment in infrastructure. Liquidity challenges in the Middle East s investor community are paving the way for financially sound contractors to play a bigger role in regional project development remarked Neha Bhatia Construction & Infrastructure Editor at GlobalData s Meed. Capital spending is on the decline as real estate developers look to conserve cash and governments redirect budgets to fund crisis expenditure amid the Covid-19 pandemic stated Bhatia. According to her spending power has weakened in the region ...
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The construction finance sector is ripe for change in the Middle East and North Africa (Mena) region according to a report by GlobalData. This report comes following recent news from the G20 Global Infrastructure (GI) Hub that the Mena region is one of the fastest growing regions globally for private investment in infrastructure. Liquidity challenges in the Middle East s investor community are paving the way for financially sound contractors to play a bigger role in regional project development remarked Neha Bhatia Construction & Infrastructure Editor at GlobalData s Meed. Capital spending is on the decline as real estate developers look to conserve cash and governments redirect budgets to fund crisis expenditure amid the Covid-19 pandemic stated Bhatia. According to her spending power has weakened in the region ...
Saudi Arabia s real estate sector remained stable during the third quarter despite the economic headwinds according to industry expert Knight Frank Middle East. In the year to date to Q3 2020 transaction volumes decreased by 28% compared to the same period a year earlier with the total value of residential transactions down 38% over the same period. Despite the decline in transaction volumes residential sales prices have remained relatively resilient stated Knight Frank in its Saudi Arabian Real Estate Market Review Q3 released today. The global industry expert said the exemption of property from VAT and the introduction of a lower property tax will help end-users developers and the government achieve its aims of increased levels of home-ownership and private participation in the real estate sector. More so the decision by the government to bear the tax...
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Saudi Arabia s real estate sector remained stable during the third quarter despite the economic headwinds according to industry expert Knight Frank Middle East. In the year to date to Q3 2020 transaction volumes decreased by 28% compared to the same period a year earlier with the total value of residential transactions down 38% over the same period. Despite the decline in transaction volumes residential sales prices have remained relatively resilient stated Knight Frank in its Saudi Arabian Real Estate Market Review Q3 released today. The global industry expert said the exemption of property from VAT and the introduction of a lower property tax will help end-users developers and the government achieve its aims of increased levels of home-ownership and private participation in the real estate sector. More so the decision by the government to bear the tax...
A total of 1 369 real estate and properties transactions worth AED4 billion ( 1.08 billion) were registered during the week ending October 22. Around 67 plots were sold for AED266.5 million ( 72.5 million) in addition to 825 apartments and villas worth AED1.33 billion ( 362 million). The top three transactions were a land in Al Thanayah Fourth sold for AED25.5 million followed by a land that was sold for AED20.66 million in Al Merkadh and a land sold for AED25.5 million in Al Thanayah Fourth in third place. Nad Al Shiba Third recorded the most transactions for this week by 28 sales transactions worth AED68.81 million followed by Jabal Ali First with 6 sales transactions worth AED7.55 million and Hadaeq Sheikh Mohammed Bin Rashid with 4 sales transactions worth AED24 million in third place. The top three transfers for apartments and villas ...
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A total of 1 369 real estate and properties transactions worth AED4 billion ( 1.08 billion) were registered during the week ending October 22. Around 67 plots were sold for AED266.5 million ( 72.5 million) in addition to 825 apartments and villas worth AED1.33 billion ( 362 million). The top three transactions were a land in Al Thanayah Fourth sold for AED25.5 million followed by a land that was sold for AED20.66 million in Al Merkadh and a land sold for AED25.5 million in Al Thanayah Fourth in third place. Nad Al Shiba Third recorded the most transactions for this week by 28 sales transactions worth AED68.81 million followed by Jabal Ali First with 6 sales transactions worth AED7.55 million and Hadaeq Sheikh Mohammed Bin Rashid with 4 sales transactions worth AED24 million in third place. The top three transfers for apartments and villas ...
Leading construction experts and digital leaders will be taking part in a virtual event Construction Technology Festival on October 21 which will discuss new construction methods that have designed built and operated projects better. The event has two conference tracks including the big issues: data management transformation strategy and return on investment (ROI) and a technology specific track including artificial intelligence AI in construction and handover laser scanning offsite construction and building information modeling (BIM) for operation and maintenance of projects. The event will see more than 500 international delegates taking part. These include company chiefs directors and heads of digital project delivery development design engineering IT innovation and construction. It aims to provide tools to enable companies to make the right investments into digit...
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Leading construction experts and digital leaders will be taking part in a virtual event Construction Technology Festival on October 21 which will discuss new construction methods that have designed built and operated projects better. The event has two conference tracks including the big issues: data management transformation strategy and return on investment (ROI) and a technology specific track including artificial intelligence AI in construction and handover laser scanning offsite construction and building information modeling (BIM) for operation and maintenance of projects. The event will see more than 500 international delegates taking part. These include company chiefs directors and heads of digital project delivery development design engineering IT innovation and construction. It aims to provide tools to enable companies to make the right investments into digit...
With the current volatility in global markets testing logistics companies like never before Infor a global player in business cloud software is hosting a virtual supply chain summit to help industry players gain insights into how they can build strong secure and resilient supply chains. The event takes place from 1 pm to 4.30 pm (Gulf Standard Time) October 20. The event is especially relevant for supply chain and logistics companies in the Middle East with recent research from IDC revealing that spending on digital supply chain and logistics in the Middle East Turkey and Africa (META) is forecast to reach 8.5 billion during 2020-23 said a statement. The online summit will feature speakers including Mark Illidge VP & GM Infor Nexus EMEA and Richard van der Meulen Infor director of solution consulting. They will be joined by trusted thought leaders including Yann d...
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With the current volatility in global markets testing logistics companies like never before Infor a global player in business cloud software is hosting a virtual supply chain summit to help industry players gain insights into how they can build strong secure and resilient supply chains. The event takes place from 1 pm to 4.30 pm (Gulf Standard Time) October 20. The event is especially relevant for supply chain and logistics companies in the Middle East with recent research from IDC revealing that spending on digital supply chain and logistics in the Middle East Turkey and Africa (META) is forecast to reach 8.5 billion during 2020-23 said a statement. The online summit will feature speakers including Mark Illidge VP & GM Infor Nexus EMEA and Richard van der Meulen Infor director of solution consulting. They will be joined by trusted thought leaders including Yann d...
Limak Construction a part of leading Turkish conglomerate Limak Group achieved a major construction milestone with the casting of the last of 36 964 shell cassettes required for the inner roof of the Kuwait International Airport New Terminal 2 (T2) project. Fabricated entirely on-site the unique steel and concrete composite structures cover a total area of 282 179 sq m to form the massive domes that span the terminal s entire interior space. The unique moulds were constructed and assembled by Limak in Kuwait and designed by Adapa a Danish company specialized in mechanical innovation and computer-aided mould manufacturing. The design of the complex structure was undertaken by German-based firm Werner Sobek while the roof s construction methodology was handled by the Robert Bird Group a member of one of the largest Asia-based urban industrial and infrastruc...
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Limak Construction a part of leading Turkish conglomerate Limak Group achieved a major construction milestone with the casting of the last of 36 964 shell cassettes required for the inner roof of the Kuwait International Airport New Terminal 2 (T2) project. Fabricated entirely on-site the unique steel and concrete composite structures cover a total area of 282 179 sq m to form the massive domes that span the terminal s entire interior space. The unique moulds were constructed and assembled by Limak in Kuwait and designed by Adapa a Danish company specialized in mechanical innovation and computer-aided mould manufacturing. The design of the complex structure was undertaken by German-based firm Werner Sobek while the roof s construction methodology was handled by the Robert Bird Group a member of one of the largest Asia-based urban industrial and infrastruc...
Leading UAE developer Damac Properties has awarded a deal worth AED181 million ( 49.2 million) to Trans Emirates Contracting for the main construction work on its 26-storey building Zada in Dubai. Strategically located within a master-planned community in Business Bay Zada offers world-class amenities such as a swimming pool a children s playground and a fitness centre among others. Owing to its location in one of Dubai s most sought after neighbourhoods nearby Burj Khalifa residents will have access to the best of shopping dining and entertainment experiences stated the developer. What makes the Zada community unique is its balance between luxury and affordable pricing. Under the motto Make the Impossible Possible Zada units are attractively priced at AED699 999 with a 4% DLD waiver and four-year payment plan. T...
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Leading UAE developer Damac Properties has awarded a deal worth AED181 million ( 49.2 million) to Trans Emirates Contracting for the main construction work on its 26-storey building Zada in Dubai. Strategically located within a master-planned community in Business Bay Zada offers world-class amenities such as a swimming pool a children s playground and a fitness centre among others. Owing to its location in one of Dubai s most sought after neighbourhoods nearby Burj Khalifa residents will have access to the best of shopping dining and entertainment experiences stated the developer. What makes the Zada community unique is its balance between luxury and affordable pricing. Under the motto Make the Impossible Possible Zada units are attractively priced at AED699 999 with a 4% DLD waiver and four-year payment plan. T...
Investcorp a leading global provider and manager of alternative investment products has announced that it has successfully completed the sale of a portfolio of seven industrial real estate assets to Mileway the pan-European last mile logistics real estate company. Investcorp had acquired the portfolio which is made up of three single let buildings and four multi-let estates in 2017. In total the portfolio comprises 692 000 sq ft of industrial warehouse and distribution accommodation located in Glasgow Edinburgh Liverpool Warrington Leeds South Elmsall and High Wycombe. During its ownership Investcorp completed a number of value-enhancing initiatives including increasing overall occupancy of the portfolio from 88% to 96% at the time of exit said a statement from the Bahrain-heaquartered company. The transaction marks an important milestone for Investcorp ...
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Investcorp a leading global provider and manager of alternative investment products has announced that it has successfully completed the sale of a portfolio of seven industrial real estate assets to Mileway the pan-European last mile logistics real estate company. Investcorp had acquired the portfolio which is made up of three single let buildings and four multi-let estates in 2017. In total the portfolio comprises 692 000 sq ft of industrial warehouse and distribution accommodation located in Glasgow Edinburgh Liverpool Warrington Leeds South Elmsall and High Wycombe. During its ownership Investcorp completed a number of value-enhancing initiatives including increasing overall occupancy of the portfolio from 88% to 96% at the time of exit said a statement from the Bahrain-heaquartered company. The transaction marks an important milestone for Investcorp ...
Oman s Special Economic Zone at Duqm (Sezad) reviewed the success achieved in the property and construction sector within the zone during a meeting with Oman Chamber of Commerce and Industry. The delegation of real estate development and construction committee of the Chamber also discussed the establishment of commercial and real estate businesses and the role of local and international investors in the zone reported Times of Oman. The significant role of Sezad in supporting real estate sector was highlighted too it stated citing a senior official. The Special Economic Zone at Duqm is full of different investment opportunities in the real estate sector offered with simple procedures and clear information to attract individuals to invest in Duqm said Hassan bin Khamis Al Ruqaishi the chairman of Real Estate Development and C...
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Oman s Special Economic Zone at Duqm (Sezad) reviewed the success achieved in the property and construction sector within the zone during a meeting with Oman Chamber of Commerce and Industry. The delegation of real estate development and construction committee of the Chamber also discussed the establishment of commercial and real estate businesses and the role of local and international investors in the zone reported Times of Oman. The significant role of Sezad in supporting real estate sector was highlighted too it stated citing a senior official. The Special Economic Zone at Duqm is full of different investment opportunities in the real estate sector offered with simple procedures and clear information to attract individuals to invest in Duqm said Hassan bin Khamis Al Ruqaishi the chairman of Real Estate Development and C...
The construction sector in Middle East and North Africa is experiencing a severe slump this year and faces headwinds in 2021 with a slow recovery but the pace of recovery will be uneven across countries in the region according to GlobalData a leading data and analytics company. The construction output growth forecast for the region for 2020 has been cut to -4.5% from the previous estimate of -2.4% stated Globaldata in its report. This reflects signs that the Covid-19 lockdowns and other restrictions had a more severe impact on construction activity than previous expected it added. Yasmine Ghozzi Economist at GlobalData said: Spending is likely to gather some further momentum in the near-term as more parts of the region s economy reopen. However a further weakening in the labour market and a potential drop in expat numbers - mainly in the GCC - are likely t...
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The construction sector in Middle East and North Africa is experiencing a severe slump this year and faces headwinds in 2021 with a slow recovery but the pace of recovery will be uneven across countries in the region according to GlobalData a leading data and analytics company. The construction output growth forecast for the region for 2020 has been cut to -4.5% from the previous estimate of -2.4% stated Globaldata in its report. This reflects signs that the Covid-19 lockdowns and other restrictions had a more severe impact on construction activity than previous expected it added. Yasmine Ghozzi Economist at GlobalData said: Spending is likely to gather some further momentum in the near-term as more parts of the region s economy reopen. However a further weakening in the labour market and a potential drop in expat numbers - mainly in the GCC - are likely t...
Dubai Executive Council has approved the new Dubai Building Code that outlines a revised set of construction rules and standards for the emirate. The Dubai Building Code creates a unified set of standards for construction that promotes sustainable development and innovation in building design. It will enhance Dubai s international investment attractiveness and promote diversification of projects in the emirate s construction sector. The new code which seeks to reduce construction costs by streamlining building rules has been developed according to the highest international standards said Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum Crown Prince of Dubai and Chairman of Dubai Executive Council while chairing the council meeting. By creating a one-stop-shop for obtaining approval from Dubai s l...
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Dubai Executive Council has approved the new Dubai Building Code that outlines a revised set of construction rules and standards for the emirate. The Dubai Building Code creates a unified set of standards for construction that promotes sustainable development and innovation in building design. It will enhance Dubai s international investment attractiveness and promote diversification of projects in the emirate s construction sector. The new code which seeks to reduce construction costs by streamlining building rules has been developed according to the highest international standards said Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum Crown Prince of Dubai and Chairman of Dubai Executive Council while chairing the council meeting. By creating a one-stop-shop for obtaining approval from Dubai s l...
The UAE s real estate sector achieved six positive indicators in 2019 despite the economic slowdown in the GCC and the Middle East highlighted by a surge in asset revenues ownership rights revenues and profits in various indicators said a report. The companies Emaar and Aldar dominated the real estate sector representing around 46 per cent of the total value of the market which comprises 13 companies reported state news agnecy Wam. A recent report by the bank showed that the sector s profitability is generally good mainly driven by solid profits achieved by Emaar and Aldar last year. On the liquidity front the report pointed out some indicators that showed the presence of a stable economic environment with current liquidity being around 1.7 per cent and the sector s debt to leverage ratio being just below 1 per cent. An...
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The UAE s real estate sector achieved six positive indicators in 2019 despite the economic slowdown in the GCC and the Middle East highlighted by a surge in asset revenues ownership rights revenues and profits in various indicators said a report. The companies Emaar and Aldar dominated the real estate sector representing around 46 per cent of the total value of the market which comprises 13 companies reported state news agnecy Wam. A recent report by the bank showed that the sector s profitability is generally good mainly driven by solid profits achieved by Emaar and Aldar last year. On the liquidity front the report pointed out some indicators that showed the presence of a stable economic environment with current liquidity being around 1.7 per cent and the sector s debt to leverage ratio being just below 1 per cent. An...
A new state-of-the-art engineering test facility built at the headquarters of Bentley Motors in Crewe UK is nearing completion following an official topping out ceremony. In place of the traditional final beam marking the occasion a native British Oak tree was planted by Members of the Bentley Board for Manufacturing and Engineering laying down roots for the future. The engineering test facility is the latest phase in on-going development at the Pyms Lane site where all Bentleys are handcrafted. With topping out traditionally celebrated with the final construction beam being fitted Bentley instead planted a tree to signify the company s continued commitment to increasing sustainability and developing biodiversity around its site in Crewe. Fresh from planting the tree personally Dr Matthias Rabe Member of the Board for Engineeri...
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A new state-of-the-art engineering test facility built at the headquarters of Bentley Motors in Crewe UK is nearing completion following an official topping out ceremony. In place of the traditional final beam marking the occasion a native British Oak tree was planted by Members of the Bentley Board for Manufacturing and Engineering laying down roots for the future. The engineering test facility is the latest phase in on-going development at the Pyms Lane site where all Bentleys are handcrafted. With topping out traditionally celebrated with the final construction beam being fitted Bentley instead planted a tree to signify the company s continued commitment to increasing sustainability and developing biodiversity around its site in Crewe. Fresh from planting the tree personally Dr Matthias Rabe Member of the Board for Engineeri...
Dubai s real estate and properties transactions value hit AED3.89 billion ( 1.05 billion) during the week ending October 1 according to the figures of the Department of Land and Property in Dubai. Of the total 1 732 land plots 182 was sold for AED1.21 billion ( 326 million) while 1 140 apartments and villas were snapped up for AED1.56 billion ( 424 million). A total of 182 plots were sold for AED1.21 billion while 1 140 apartments and villas were sold for AED1.56 billion. The top three transactions were a land in Marsa Dubai sold for AED250.2 million followed by a land sold for AED45.04 million in Al Hebiah First and a land worth AED250.2 million in Marsa Dubai in third place. Al Hebiah Third recorded the most transactions for this week by 19 sales transactions worth AED48.17 million followed by Hadaeq Sheikh Mohammed Bin Rashid wit...
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Dubai s real estate and properties transactions value hit AED3.89 billion ( 1.05 billion) during the week ending October 1 according to the figures of the Department of Land and Property in Dubai. Of the total 1 732 land plots 182 was sold for AED1.21 billion ( 326 million) while 1 140 apartments and villas were snapped up for AED1.56 billion ( 424 million). A total of 182 plots were sold for AED1.21 billion while 1 140 apartments and villas were sold for AED1.56 billion. The top three transactions were a land in Marsa Dubai sold for AED250.2 million followed by a land sold for AED45.04 million in Al Hebiah First and a land worth AED250.2 million in Marsa Dubai in third place. Al Hebiah Third recorded the most transactions for this week by 19 sales transactions worth AED48.17 million followed by Hadaeq Sheikh Mohammed Bin Rashid wit...
Top construction equipment maker Doosan Infracore has announced that its new smart construction solution XiteCloud has won the highest award at a major competition hosted in South Korea. Doosan Infracore proved its technological excellence at Smart Construction Challenge 2020 in the earthwork automation and advanced surveying categories. The event is hosted jointly by the Ministry of Land Infrastructure and Transport (MOLIT) the Korea Land and Housing Corporation and the Korea Expressway Corporation. It is designed to publicize the outstanding performance of novel smart construction technologies and promote their use in the field. Along with the MOLIT Ministry Award Doosan Infracore will be receiving KRW40 million ( 34 2311) in cash prize. Participating companies such as Doosan Infracore showcased their smart con...
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Top construction equipment maker Doosan Infracore has announced that its new smart construction solution XiteCloud has won the highest award at a major competition hosted in South Korea. Doosan Infracore proved its technological excellence at Smart Construction Challenge 2020 in the earthwork automation and advanced surveying categories. The event is hosted jointly by the Ministry of Land Infrastructure and Transport (MOLIT) the Korea Land and Housing Corporation and the Korea Expressway Corporation. It is designed to publicize the outstanding performance of novel smart construction technologies and promote their use in the field. Along with the MOLIT Ministry Award Doosan Infracore will be receiving KRW40 million ( 34 2311) in cash prize. Participating companies such as Doosan Infracore showcased their smart con...
Saudi Arabia s construction industry suffered a sharp quarterly slide and is expected to contract by 2.8 per cent this year said a report. This is in line with expectations of a severe decline in construction output in Saudi Arabia in Q2 2020 amid plunging oil prices and the Covid-19 pandemic according to GlobalData a leading data and analytics company. Saudi government s swift introduction of integrated stimulus and support measures to struggling industries such as construction locking down sectors of the economy and cuts and delays in capital spending have put a strain on the kingdom s budget it stated. Removal of cost of living allowance and tripling the value-added tax (VAT) rate to 15% were stringent policies the kingdom had to push for it added. Saudi Arabia s construction sector shrank by 4.7% ...
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Saudi Arabia s construction industry suffered a sharp quarterly slide and is expected to contract by 2.8 per cent this year said a report. This is in line with expectations of a severe decline in construction output in Saudi Arabia in Q2 2020 amid plunging oil prices and the Covid-19 pandemic according to GlobalData a leading data and analytics company. Saudi government s swift introduction of integrated stimulus and support measures to struggling industries such as construction locking down sectors of the economy and cuts and delays in capital spending have put a strain on the kingdom s budget it stated. Removal of cost of living allowance and tripling the value-added tax (VAT) rate to 15% were stringent policies the kingdom had to push for it added. Saudi Arabia s construction sector shrank by 4.7% ...
Etihad Cargo the cargo and logistics arm of Etihad Aviation Group has reinforced its pharmaceutical logistics expertise with the launch of PharmaLife a specialised pharma and healthcare product which replaces the carrier s TempCheck product. As the first carrier in the Middle East to gain IATA s Centre of Excellence for Independent Validators (CEIV) certification for pharmaceutical logistics the PharmaLife launch highlights Etihad Cargo s prioritisation of the pharma and healthcare sectors. The specialised product will serve the anticipated global demand for swift and secure shipment services ahead of a COVID-19 vaccine a statement said. The pandemic prompted a reassessment of our top-level services to ensure we can address the specific requirements for shipping high volumes of in-demand product in very short timescales explained Andre Blech Head of operations & Service D...
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Etihad Cargo the cargo and logistics arm of Etihad Aviation Group has reinforced its pharmaceutical logistics expertise with the launch of PharmaLife a specialised pharma and healthcare product which replaces the carrier s TempCheck product. As the first carrier in the Middle East to gain IATA s Centre of Excellence for Independent Validators (CEIV) certification for pharmaceutical logistics the PharmaLife launch highlights Etihad Cargo s prioritisation of the pharma and healthcare sectors. The specialised product will serve the anticipated global demand for swift and secure shipment services ahead of a COVID-19 vaccine a statement said. The pandemic prompted a reassessment of our top-level services to ensure we can address the specific requirements for shipping high volumes of in-demand product in very short timescales explained Andre Blech Head of operations & Service D...
Qatar-based GWC a leader in supply chain solutions including warehousing freight forwarding commercial fine art and event logistics services was announced as the first Regional Supporter and Official Logistics Provider for the Fifa World Cup Qatar 2022 today. GWC will be the key operational supplier of logistics solutions for the Fifa World Cup Qatar 2022. GWC which was the National Supporter and Official Logistics Provider for the Fifa Club World Cup 2019 will build on this experience and draw on its robust network of contacts throughout the world to deliver logistics and supply chain services for the Fifa World Cup 2022. Fifa Chief Commercial Officer Simon Thomas said: Logistics are critical to an event as large and complex as the Fifa World Cup so having GWC on board as a Regional Supporter and the Official Logistics Provider for the tournament will provide...
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Qatar-based GWC a leader in supply chain solutions including warehousing freight forwarding commercial fine art and event logistics services was announced as the first Regional Supporter and Official Logistics Provider for the Fifa World Cup Qatar 2022 today. GWC will be the key operational supplier of logistics solutions for the Fifa World Cup Qatar 2022. GWC which was the National Supporter and Official Logistics Provider for the Fifa Club World Cup 2019 will build on this experience and draw on its robust network of contacts throughout the world to deliver logistics and supply chain services for the Fifa World Cup 2022. Fifa Chief Commercial Officer Simon Thomas said: Logistics are critical to an event as large and complex as the Fifa World Cup so having GWC on board as a Regional Supporter and the Official Logistics Provider for the tournament will provide...
DP World a global infrastructure-led supply chain solutions provider and Bank Leumi Israel s oldest banking corporation and one of the leading institutions in the region have signed a memorandum of understanding (MOU) to work together to enhance trade and logistics in Israel and promote the flow of trade between Israel and the wider region. The MoU includes a framework for collaboration which will enable the parties to explore potential opportunities including the development of ports and logistics assets in Israel to drive trade and greater job creation; trade finance solutions to simplify working capital requirements for customers improve flow of cargo; and digital solutions in end-to-end logistics to remove inefficiencies in the supply chain said a statement. Bank Leumi is one of Israel s largest banks and is actively working to help grow business ties between Israel and the UAE....
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DP World a global infrastructure-led supply chain solutions provider and Bank Leumi Israel s oldest banking corporation and one of the leading institutions in the region have signed a memorandum of understanding (MOU) to work together to enhance trade and logistics in Israel and promote the flow of trade between Israel and the wider region. The MoU includes a framework for collaboration which will enable the parties to explore potential opportunities including the development of ports and logistics assets in Israel to drive trade and greater job creation; trade finance solutions to simplify working capital requirements for customers improve flow of cargo; and digital solutions in end-to-end logistics to remove inefficiencies in the supply chain said a statement. Bank Leumi is one of Israel s largest banks and is actively working to help grow business ties between Israel and the UAE....
Saudi Arabia dry logistics and warehousing market has shown a volatile growth trajectory during 2015 to 2019 according to a new report released by Ken Research. However the kingdom s plans to pump investment into economic cities and other industrial projects will drive market revenue in the kingdom s logistics and transportation sector the research firm said in a latest market outlook of the dry logistics and warehousing sector. The kingdom is expected to invest SR327.9 billion within the various economic projects during 2019 and 2025 it added. The KSA government is highly promoting the integration of multi-modal hubs across the country. FDI within the logistics infrastructure development constructing regional & international logistics service centres and improving the efficiency of trade routes can collectively help the country in becoming a logistics hub over long term noted t...
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Saudi Arabia dry logistics and warehousing market has shown a volatile growth trajectory during 2015 to 2019 according to a new report released by Ken Research. However the kingdom s plans to pump investment into economic cities and other industrial projects will drive market revenue in the kingdom s logistics and transportation sector the research firm said in a latest market outlook of the dry logistics and warehousing sector. The kingdom is expected to invest SR327.9 billion within the various economic projects during 2019 and 2025 it added. The KSA government is highly promoting the integration of multi-modal hubs across the country. FDI within the logistics infrastructure development constructing regional & international logistics service centres and improving the efficiency of trade routes can collectively help the country in becoming a logistics hub over long term noted t...
The UAE construction industry is expected to grow by 3.8 per cent in 2021 according to latest market research by leading international construction consultancy Linesight. With the ongoing economic volatility the construction industry across the region is expected to be buoyed by a range of government stimulus packages stated Linesight in its latest Middle East construction industry findings underlining the impact of Covid-19 on the sector in the UAE Saudi Arabia Bahrain and Kuwait. As a result modest growth within the industry is expected to be realised in 2021 with recovery already being witnessed in some countries it added. Ciaran McCormack Regional Director for Linesight Middle East said: According to GlobalData the UAE construction sector recorded growth of 3.3 per cent in 2019. Pre-Covid this figure was expected to increase to 4.3 per cent in 2020 predomi...
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The UAE construction industry is expected to grow by 3.8 per cent in 2021 according to latest market research by leading international construction consultancy Linesight. With the ongoing economic volatility the construction industry across the region is expected to be buoyed by a range of government stimulus packages stated Linesight in its latest Middle East construction industry findings underlining the impact of Covid-19 on the sector in the UAE Saudi Arabia Bahrain and Kuwait. As a result modest growth within the industry is expected to be realised in 2021 with recovery already being witnessed in some countries it added. Ciaran McCormack Regional Director for Linesight Middle East said: According to GlobalData the UAE construction sector recorded growth of 3.3 per cent in 2019. Pre-Covid this figure was expected to increase to 4.3 per cent in 2020 predomi...
The Sharjah Investment and Development Authority (Shurooq) is developing an array of projects across its portfolio of latest large-scale real estate tourism commercial and hospitality sectors in strategic partnership with leading international companies that offer a range of investment opportunities. In doing so Shurooq said it is furthering Sharjah s economic diversification policy aimed at enhancing the investment environment across the emirate and making the most of its unique infrastructure to develop new projects in sectors like renewal energy healthcare logistics and hospitality. Amongst the list of projects scheduled for completion this year and some of the signature projects that will be completed within the next two years includes the House of Wisdom Sharjah Sustainable City and Avenues Mall Sharjah it added. Shurooq recently shared the new developments ...
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The Sharjah Investment and Development Authority (Shurooq) is developing an array of projects across its portfolio of latest large-scale real estate tourism commercial and hospitality sectors in strategic partnership with leading international companies that offer a range of investment opportunities. In doing so Shurooq said it is furthering Sharjah s economic diversification policy aimed at enhancing the investment environment across the emirate and making the most of its unique infrastructure to develop new projects in sectors like renewal energy healthcare logistics and hospitality. Amongst the list of projects scheduled for completion this year and some of the signature projects that will be completed within the next two years includes the House of Wisdom Sharjah Sustainable City and Avenues Mall Sharjah it added. Shurooq recently shared the new developments ...
Spanish infrastructure major Acciona said it has achieved a key construction milestone on the Al Khobar 1 project with the production of the first cu m of water (equivalent to consumption of a four-member family for a day) at its desalination plant on the east coast of Saudi Arabia. Acciona is a world leader in desalination using reverse osmosis technology which emits 6.5 times fewer greenhouse gases than thermal desalination. The Spanish group is the EPC contractor for Al Khobar 1 which it expects to complete before the end of the year. Once operational the desalination plant which is owned by the Saline Water Conversion Corporation (SWCC) will produce 210 000 cu m of potable water per day serving a population of 350 000 inhabitants. On the key milestone Ignacio Lobo Gutiérrez Acciona Project Director said: It is t...
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Spanish infrastructure major Acciona said it has achieved a key construction milestone on the Al Khobar 1 project with the production of the first cu m of water (equivalent to consumption of a four-member family for a day) at its desalination plant on the east coast of Saudi Arabia. Acciona is a world leader in desalination using reverse osmosis technology which emits 6.5 times fewer greenhouse gases than thermal desalination. The Spanish group is the EPC contractor for Al Khobar 1 which it expects to complete before the end of the year. Once operational the desalination plant which is owned by the Saline Water Conversion Corporation (SWCC) will produce 210 000 cu m of potable water per day serving a population of 350 000 inhabitants. On the key milestone Ignacio Lobo Gutiérrez Acciona Project Director said: It is t...
Dubai Real Estate Institute (DREI) a unit within Dubai Land Department (DLD) recently the virtual UAE-KSA Real Estate post-Covid-19 conference that was organised in cooperation with the Smart Decision Training Center (SDTC) in Saudi Arabia. The objectives of the two-day conference included achieving coherence and communication among public and private sectors in the UAE and the KSA to develop real estate knowledge. The virtual conference witnessed the participation of more than 200 participants along with a group of prominent speakers and experts in the real estate field from both countries to develop real estate knowledge which represents an important aspect of joint cooperation where challenges and innovative solutions for a better future for the real estate market were discussed to establish trust and happiness. The participants came up wit...
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Dubai Real Estate Institute (DREI) a unit within Dubai Land Department (DLD) recently the virtual UAE-KSA Real Estate post-Covid-19 conference that was organised in cooperation with the Smart Decision Training Center (SDTC) in Saudi Arabia. The objectives of the two-day conference included achieving coherence and communication among public and private sectors in the UAE and the KSA to develop real estate knowledge. The virtual conference witnessed the participation of more than 200 participants along with a group of prominent speakers and experts in the real estate field from both countries to develop real estate knowledge which represents an important aspect of joint cooperation where challenges and innovative solutions for a better future for the real estate market were discussed to establish trust and happiness. The participants came up wit...
Fujitsu and Toyota Systems have conducted a joint trial to optimise complex distribution and supply chains for automotive parts in Japan. According to a statement Fujitsu s Quantum-Inspired Digital Annealer computing technology was applied to a problem with 3 million potential routes for parts delivery from hundreds of suppliers. The Digital Annealer solves complex combinatorial optimization problems at speeds not possible with current conventional computing technologies and was used to rapidly calculate variables including the number of transport trucks total mileage and package sorting tasks determining the most cost-effective approach for an automotive parts supply chain optimization problem with more than 3 million possible delivery routes to dozens of factories the statement said. Ultimately the trial revealed it was possible that within 30 minutes an optimal ...
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Fujitsu and Toyota Systems have conducted a joint trial to optimise complex distribution and supply chains for automotive parts in Japan. According to a statement Fujitsu s Quantum-Inspired Digital Annealer computing technology was applied to a problem with 3 million potential routes for parts delivery from hundreds of suppliers. The Digital Annealer solves complex combinatorial optimization problems at speeds not possible with current conventional computing technologies and was used to rapidly calculate variables including the number of transport trucks total mileage and package sorting tasks determining the most cost-effective approach for an automotive parts supply chain optimization problem with more than 3 million possible delivery routes to dozens of factories the statement said. Ultimately the trial revealed it was possible that within 30 minutes an optimal ...
UK boutique luxury real estate firm and private office Montague Real Estate has announced the appointment of Luke Banks formerly of Dubai luxury property developer Sobha Realty as the head of their newly formed Middle East division. The move into the Middle East marks the first major international expansion for Montague Real Estate which is looking to enter a number of other new markets including the US in 2021. The Montague s regional launch will be spearheaded by Banks who has worked within the Middle Eastern Real Estate market for nearly ten years. Prior to his former role as UK Country Head at Sobha Realty Banks was a senior consultant and manager at a number of Dubai-based real estate firms including Dubai Properties Omniyat Official and Lannhill Real Estate. He will initially be based in London...
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UK boutique luxury real estate firm and private office Montague Real Estate has announced the appointment of Luke Banks formerly of Dubai luxury property developer Sobha Realty as the head of their newly formed Middle East division. The move into the Middle East marks the first major international expansion for Montague Real Estate which is looking to enter a number of other new markets including the US in 2021. The Montague s regional launch will be spearheaded by Banks who has worked within the Middle Eastern Real Estate market for nearly ten years. Prior to his former role as UK Country Head at Sobha Realty Banks was a senior consultant and manager at a number of Dubai-based real estate firms including Dubai Properties Omniyat Official and Lannhill Real Estate. He will initially be based in London...
Emirates Steel has announced its contribution to the national achievement of constructing the Barakah Nuclear Energy Plant the first peaceful nuclear facility in the Arab World. It had been a partner of the Emirates Nuclear Energy Corporation ENEC from the outset of the Barakah project some ten years ago up to the historic start-up of the first of its four reactors in early August. The Emirates Steel had supplied 160 000 tonnes equivalent to 60 per cent of the Q-class and S-class rebar material used in the construction of the plant. Besides its specialised teams worked for two years with Enec s dedicated business and industrial development team to ensure that the company s quality assurance and production processes met the stringent global nuclear standards of construction. On its contribution CEO Saeed Ghumran Al Remeithi sa...
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Emirates Steel has announced its contribution to the national achievement of constructing the Barakah Nuclear Energy Plant the first peaceful nuclear facility in the Arab World. It had been a partner of the Emirates Nuclear Energy Corporation ENEC from the outset of the Barakah project some ten years ago up to the historic start-up of the first of its four reactors in early August. The Emirates Steel had supplied 160 000 tonnes equivalent to 60 per cent of the Q-class and S-class rebar material used in the construction of the plant. Besides its specialised teams worked for two years with Enec s dedicated business and industrial development team to ensure that the company s quality assurance and production processes met the stringent global nuclear standards of construction. On its contribution CEO Saeed Ghumran Al Remeithi sa...
The UAE s construction industry is expected to hit AED 278.7 billion by 2024 with a CAGR of 6.2 per cent according to a report by leading research firm ResearchAndMarkets. Over the next 8 quarters the report expects growth across residential commercial industrial and institutional sectors in United Arab Emirates to remain impacted due to the economic downturn caused by the Covid-19 outbreak it stated in the firm s latest UAE Construction Industry Databook Series. Despite near term challenges medium to long term outlook remains positive. Over the short term investment in the construction industry will be driven by government spending in the infrastructure sector. The residential construction industry in value terms increased at a CAGR of 6.7% during 2015-2019 it added. According to the report the commercial buildin...
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The UAE s construction industry is expected to hit AED 278.7 billion by 2024 with a CAGR of 6.2 per cent according to a report by leading research firm ResearchAndMarkets. Over the next 8 quarters the report expects growth across residential commercial industrial and institutional sectors in United Arab Emirates to remain impacted due to the economic downturn caused by the Covid-19 outbreak it stated in the firm s latest UAE Construction Industry Databook Series. Despite near term challenges medium to long term outlook remains positive. Over the short term investment in the construction industry will be driven by government spending in the infrastructure sector. The residential construction industry in value terms increased at a CAGR of 6.7% during 2015-2019 it added. According to the report the commercial buildin...
Alkhabeer Capital a major Saudi-based asset manager specialising in alternative investments has announced that its shari a-compliant real estate investment traded fund Alkhabeer REIT will be included in the FTSE EPRA Nareit Global Real Estate Index starting from September 21. FTSE EPRA Nareit Real Estate Index is globally recognized listed real estate benchmarks and is tracked by over an estimated 340 billion in assets. It was established by FTSE Russell in collaboration with the European Public Real Estate Association and the US-based National Association of Real Estate Investment Trusts. Jeddah-based Alkhabeer Capital said the announcement was made by FTSE Russell as part of the FTSE EPRA Nareit Global Real Estate Index September 2020 quarterly review which concluded on September 4. On the key milestone CEO Ah...
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Alkhabeer Capital a major Saudi-based asset manager specialising in alternative investments has announced that its shari a-compliant real estate investment traded fund Alkhabeer REIT will be included in the FTSE EPRA Nareit Global Real Estate Index starting from September 21. FTSE EPRA Nareit Real Estate Index is globally recognized listed real estate benchmarks and is tracked by over an estimated 340 billion in assets. It was established by FTSE Russell in collaboration with the European Public Real Estate Association and the US-based National Association of Real Estate Investment Trusts. Jeddah-based Alkhabeer Capital said the announcement was made by FTSE Russell as part of the FTSE EPRA Nareit Global Real Estate Index September 2020 quarterly review which concluded on September 4. On the key milestone CEO Ah...
Dubai s real estate sales transactions grew by 3.7 per cent month-on-month in July and averaged around 600 properties sold every seven days. The secondary market in July had higher volumes of sales transactions than off-plan transactions a trend recorded since the end of Q2 2020 stated Dubai Land Department (DLD) in the fifth edition of its official sales-price index Mo asher launched in cooperation with Property Finder. The base year for Mo asher is 2012 and the base month for the monthly index is January 2012 with the base quarter for the quarterly index being Q1 2012. In July DLD had recorded a total of 2 404 sales transactions worth AED4.69 billion with 29.6% in the off-plan segment and 70.4% in the secondary segment. This brings the year-to-year total to 18 168 sales transactions worth AED36.99 billion. Latifa Ibrah...
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Dubai s real estate sales transactions grew by 3.7 per cent month-on-month in July and averaged around 600 properties sold every seven days. The secondary market in July had higher volumes of sales transactions than off-plan transactions a trend recorded since the end of Q2 2020 stated Dubai Land Department (DLD) in the fifth edition of its official sales-price index Mo asher launched in cooperation with Property Finder. The base year for Mo asher is 2012 and the base month for the monthly index is January 2012 with the base quarter for the quarterly index being Q1 2012. In July DLD had recorded a total of 2 404 sales transactions worth AED4.69 billion with 29.6% in the off-plan segment and 70.4% in the secondary segment. This brings the year-to-year total to 18 168 sales transactions worth AED36.99 billion. Latifa Ibrah...
Abu Dhabi National Oil Company (Adnoc) said on Wednesday it has signed a long-term 5.5-billion real estate investment partnership with a consortium led by Apollo Global Management one of the world s largest alternative investment managers. The strategic investment will leverage the rental income streams from select Adnoc real estate assets under a 24-year master lease agreement. The investment will unlock new pools of global institutional long-term capital for Adnoc while supporting investment in its core business and strategic growth projects. In one of the region s largest real estate transactions Apollo led a consortium of institutional investors in the acquisition of a 49% stake in Abu Dhabi Property Leasing Holding Company (ADPLHC) a wholly owned affiliate of Adnoc. The transaction included no financing and was placed entirely with insurance and pension fund investors that focus on long-term and high-quality inves...
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Abu Dhabi National Oil Company (Adnoc) said on Wednesday it has signed a long-term 5.5-billion real estate investment partnership with a consortium led by Apollo Global Management one of the world s largest alternative investment managers. The strategic investment will leverage the rental income streams from select Adnoc real estate assets under a 24-year master lease agreement. The investment will unlock new pools of global institutional long-term capital for Adnoc while supporting investment in its core business and strategic growth projects. In one of the region s largest real estate transactions Apollo led a consortium of institutional investors in the acquisition of a 49% stake in Abu Dhabi Property Leasing Holding Company (ADPLHC) a wholly owned affiliate of Adnoc. The transaction included no financing and was placed entirely with insurance and pension fund investors that focus on long-term and high-quality inves...
Bayut the region s leading property portal hosted a high-profile webinar as part of its popular online series The State of Real Estate focusing on the role and contributions made by women in the real estate sector ahead of the Emirati Women s Day celebrations. Moderated by Fibha Ahmed the Sales Director for Bayut and dubizzle Property the webinar brought together noteworthy female leaders from the UAE s property market to engage in a meaningful discussion on how women in the country s real estate sector had to instantly pivot in the face of unprecedented market upheavals and changes brought on by the global Covid-19 pandemic said a statement from Bayut. The three guests; Safura Abasniya General Manager & Partner at Aston Pearl Real Estate; Zeina Khoury CEO at High Mark Real Estate; and Katie Savage Director at The Urban Nest spoke about the challenges they had to face an...
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Bayut the region s leading property portal hosted a high-profile webinar as part of its popular online series The State of Real Estate focusing on the role and contributions made by women in the real estate sector ahead of the Emirati Women s Day celebrations. Moderated by Fibha Ahmed the Sales Director for Bayut and dubizzle Property the webinar brought together noteworthy female leaders from the UAE s property market to engage in a meaningful discussion on how women in the country s real estate sector had to instantly pivot in the face of unprecedented market upheavals and changes brought on by the global Covid-19 pandemic said a statement from Bayut. The three guests; Safura Abasniya General Manager & Partner at Aston Pearl Real Estate; Zeina Khoury CEO at High Mark Real Estate; and Katie Savage Director at The Urban Nest spoke about the challenges they had to face an...
The impact of the Covid-19 pandemic is being felt in major industries in the region including the real estate market where developers are eyeing a reduction in unit prices by as much as 25 per cent and also company mergers to minimize business risks and significantly increase the ease of doing business according to Maximiliano Development Management Services (MDMS). A Saudi-based development management service company MDMS provides interior and architectural designs including engineering services. As uncertainty continues real estate developers are deploying a range of measures and policies to mitigate the ongoing challenges and boosting their position and deepening their relationships with their employees investors end-users and other stakeholders. MDMS Managing Director Engineer Marwa A. Murad said: One of the major risks facing the real estate market is the inabilit...
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The impact of the Covid-19 pandemic is being felt in major industries in the region including the real estate market where developers are eyeing a reduction in unit prices by as much as 25 per cent and also company mergers to minimize business risks and significantly increase the ease of doing business according to Maximiliano Development Management Services (MDMS). A Saudi-based development management service company MDMS provides interior and architectural designs including engineering services. As uncertainty continues real estate developers are deploying a range of measures and policies to mitigate the ongoing challenges and boosting their position and deepening their relationships with their employees investors end-users and other stakeholders. MDMS Managing Director Engineer Marwa A. Murad said: One of the major risks facing the real estate market is the inabilit...
The impacts of the Covid-19 pandemic and lower oil prices will place both the residential and office space rental sectors in Oman s capital Muscat under further pressure over the coming months according to leading global real estate advisors Savills. As a result of this twin effect Savills expects to see increasingly challenging economic conditions and an acceleration of the exodus of the expatriate population. Market conditions in both the residential and office space rental sectors in Muscat were already in slowdown/recession prior to the Covid-19 pandemic it cautioned in its latest market report for Oman. The report highlights the historic correlation between Oman s GDP trends and movement in oil prices and an assessment of the impact of macroeconomic conditions on the real estate sector. It also offers an in-depth analysis of the office and residential renta...
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The impacts of the Covid-19 pandemic and lower oil prices will place both the residential and office space rental sectors in Oman s capital Muscat under further pressure over the coming months according to leading global real estate advisors Savills. As a result of this twin effect Savills expects to see increasingly challenging economic conditions and an acceleration of the exodus of the expatriate population. Market conditions in both the residential and office space rental sectors in Muscat were already in slowdown/recession prior to the Covid-19 pandemic it cautioned in its latest market report for Oman. The report highlights the historic correlation between Oman s GDP trends and movement in oil prices and an assessment of the impact of macroeconomic conditions on the real estate sector. It also offers an in-depth analysis of the office and residential renta...
Oman Aviation Group (OAG) has said that it is exploring opportunities for investment in Sea-to-Air logistics and cargo transportation centering on the Sultanate s international airports in Sohar and Salalah reported Oman Daily Observer . Sea-to-Air logistics are part of an ambitious portfolio of initiatives being pursued by the state-owned umbrella organisation in a bid to leverage the country s already well-developed airport and aviation infrastructure to catalyse investments in among other areas air-freight e-commerce and airport-related free zones. But while Muscat International Airport is already being positioned as the hub of a far-reaching national aviation ecosystem key roles are being envisaged for Sohar and Salalah airports as well. Details of Oman Aviation Group s vision for Sohar and Salalah airports in addition to Muscat International Airport were sh...
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Oman Aviation Group (OAG) has said that it is exploring opportunities for investment in Sea-to-Air logistics and cargo transportation centering on the Sultanate s international airports in Sohar and Salalah reported Oman Daily Observer . Sea-to-Air logistics are part of an ambitious portfolio of initiatives being pursued by the state-owned umbrella organisation in a bid to leverage the country s already well-developed airport and aviation infrastructure to catalyse investments in among other areas air-freight e-commerce and airport-related free zones. But while Muscat International Airport is already being positioned as the hub of a far-reaching national aviation ecosystem key roles are being envisaged for Sohar and Salalah airports as well. Details of Oman Aviation Group s vision for Sohar and Salalah airports in addition to Muscat International Airport were sh...
The Middle East construction chemicals sector is expected to grow by 5.5 per cent compound annual growth rate by 2024 shrugging off Covid-19 after-effects that threatened to cripple most industries. This growth according to industry insiders will largely be driven by the extensive demands brought about by the increase in infrastructure in the building construction and healthcare industries. According to Al Muqarram Group the strategic growth of the construction chemicals market in the larger GCC region will be led by the UAE and Saudi Arabia with the two leading markets expected to remain bright spots for the construction industry throughout 2019 to 2024. The growth comes against a backdrop of ongoing iconic projects like Expo 2020 and Fifa World Cup 2022 and many others which are expected to drive the demand for the respective products. ...
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The Middle East construction chemicals sector is expected to grow by 5.5 per cent compound annual growth rate by 2024 shrugging off Covid-19 after-effects that threatened to cripple most industries. This growth according to industry insiders will largely be driven by the extensive demands brought about by the increase in infrastructure in the building construction and healthcare industries. According to Al Muqarram Group the strategic growth of the construction chemicals market in the larger GCC region will be led by the UAE and Saudi Arabia with the two leading markets expected to remain bright spots for the construction industry throughout 2019 to 2024. The growth comes against a backdrop of ongoing iconic projects like Expo 2020 and Fifa World Cup 2022 and many others which are expected to drive the demand for the respective products. ...
There is a renewed surge in Dubai property sales particularly from overseas investors mainly from the UK and European Union who are benefiting from the weak performance of the US dollar over the past four months according to Devmark a UAE-based real-estate consultancy and advisory firm. As a safe-haven currency the dollar experienced upward pressure at the beginning of the pandemic stated the company. Now that the shock and immediate uncertainty of the crisis have subsided to a degree there have been positive flows to other currencies such as the Swiss franc sterling and the euro with negative outflows from the dollar it added. Devmark CEO Sean McCauley said: Since mid-March investors from Switzerland the UK Germany and Italy have been able to take advantage of gains made by the Swiss franc sterling and the euro as the US dollar weakened over the past fo...
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There is a renewed surge in Dubai property sales particularly from overseas investors mainly from the UK and European Union who are benefiting from the weak performance of the US dollar over the past four months according to Devmark a UAE-based real-estate consultancy and advisory firm. As a safe-haven currency the dollar experienced upward pressure at the beginning of the pandemic stated the company. Now that the shock and immediate uncertainty of the crisis have subsided to a degree there have been positive flows to other currencies such as the Swiss franc sterling and the euro with negative outflows from the dollar it added. Devmark CEO Sean McCauley said: Since mid-March investors from Switzerland the UK Germany and Italy have been able to take advantage of gains made by the Swiss franc sterling and the euro as the US dollar weakened over the past fo...
Growing numbers of local and international companies are setting up operations in specially created zones earmarked for industrial and logistics activities within the concession area of Port of Duqm on Oman s Al Wusta coast according to an Oman Observer report. According to a top official of the maritime gateway which anchors the sprawling Special Economic Zone (SEZ) at Duqm investments have picked up pace in the 1 000-hectare Logistics Zone as well as the 3 000-hectare Industrial Zone that form part of the port s sizable concession. Reggy Vermeulen CEO said the investment inflows into the two zones as well the start-up of activities within these lands were largely in trend with the pace of implementation of mega ventures under way in the adjoining SEZ. In an interview to Duqm Economist the quarterly newsletter focusing on Duqm SEZ Vermulen noted that ...
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Growing numbers of local and international companies are setting up operations in specially created zones earmarked for industrial and logistics activities within the concession area of Port of Duqm on Oman s Al Wusta coast according to an Oman Observer report. According to a top official of the maritime gateway which anchors the sprawling Special Economic Zone (SEZ) at Duqm investments have picked up pace in the 1 000-hectare Logistics Zone as well as the 3 000-hectare Industrial Zone that form part of the port s sizable concession. Reggy Vermeulen CEO said the investment inflows into the two zones as well the start-up of activities within these lands were largely in trend with the pace of implementation of mega ventures under way in the adjoining SEZ. In an interview to Duqm Economist the quarterly newsletter focusing on Duqm SEZ Vermulen noted that ...
FarEye a leading logistics SaaS platform for predictive visibility has announced that it has raised additional 13 million as an extension to its Series D investment led by The Fundamentum Partnership the growth-capital fund for mid-stage technology companies in India backed by Nandan Nilekani and Sanjeev Aggarwal and KB Global Platform Fund one of the leading investment firm of Korea. The investment will accelerate FarEye s global expansion to address the steepening digital curve for logistics transformation. The need is being further accelerated by enterprises and end consumers demanding a high level of transparency faster and more convenient delivery experiences. There is also an increased need for flexible supply chains to meet these demands said the statement from FarEye. With recently raised funds we will continue to invest in the best talent in ...
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FarEye a leading logistics SaaS platform for predictive visibility has announced that it has raised additional 13 million as an extension to its Series D investment led by The Fundamentum Partnership the growth-capital fund for mid-stage technology companies in India backed by Nandan Nilekani and Sanjeev Aggarwal and KB Global Platform Fund one of the leading investment firm of Korea. The investment will accelerate FarEye s global expansion to address the steepening digital curve for logistics transformation. The need is being further accelerated by enterprises and end consumers demanding a high level of transparency faster and more convenient delivery experiences. There is also an increased need for flexible supply chains to meet these demands said the statement from FarEye. With recently raised funds we will continue to invest in the best talent in ...
GCC construction market is showing early signs of recovery with projects worth 30.7 billion achieving construction completion in July and 11.6 billion worth of new projects being announced according to a report by BNC Projects. The GCC construction market is estimated at 2.4 trillion with over 22 000 active projects at the end of July thus indicating early signs of the sector s recovery even as the Gulf nations start easing Covid-19 restrictions stated BNC in its latest edition of the Journal titled The Great Awakening. A number of mega projects were announced in Saudi Arabia and Oman including the 5 billion Green Hydrogen-Based Ammonia Production Facility in the Neom Economic Zone the 2 billion Mixed-Use Development announced for Durrat Al Nakheel in Al Khobar and the 1.5 billion Low Sulphur Fuel Oil (LSFO) Refinery in Oman. Saudi Arabia d...
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GCC construction market is showing early signs of recovery with projects worth 30.7 billion achieving construction completion in July and 11.6 billion worth of new projects being announced according to a report by BNC Projects. The GCC construction market is estimated at 2.4 trillion with over 22 000 active projects at the end of July thus indicating early signs of the sector s recovery even as the Gulf nations start easing Covid-19 restrictions stated BNC in its latest edition of the Journal titled The Great Awakening. A number of mega projects were announced in Saudi Arabia and Oman including the 5 billion Green Hydrogen-Based Ammonia Production Facility in the Neom Economic Zone the 2 billion Mixed-Use Development announced for Durrat Al Nakheel in Al Khobar and the 1.5 billion Low Sulphur Fuel Oil (LSFO) Refinery in Oman. Saudi Arabia d...
Bahrain had awarded 769 tenders worth a total of 1.7 billion during the first six months according to new data released by the Tender Board the country s government procurement regulator. The construction and engineering sector took the lion s share of contracts for the first half with awarded tenders totalling 588.3 million emphasising the government s continued commitment to its extensive pipeline of infrastructure projects. The oil and gas sector came second with 416.3 million deals followed by materials and equipment ( 292.6 million) and the services sector with 202.4 million. The aviation sector brought up the rear with awards worth 172.2 million in the same period it added. On the new data Chairman Shaikh Nayef bin Khalid Al Khalifa said: Bahrain awarded a total of 47 public tenders worth a combi...
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Bahrain had awarded 769 tenders worth a total of 1.7 billion during the first six months according to new data released by the Tender Board the country s government procurement regulator. The construction and engineering sector took the lion s share of contracts for the first half with awarded tenders totalling 588.3 million emphasising the government s continued commitment to its extensive pipeline of infrastructure projects. The oil and gas sector came second with 416.3 million deals followed by materials and equipment ( 292.6 million) and the services sector with 202.4 million. The aviation sector brought up the rear with awards worth 172.2 million in the same period it added. On the new data Chairman Shaikh Nayef bin Khalid Al Khalifa said: Bahrain awarded a total of 47 public tenders worth a combi...
UAE-based Sultan bin Ali Al Owais Real Estate has introduced a 90-day campaign for new tenants across its 3000 properties in the country offering flexible rent payment plans and zero percent commission in addition to helping them move in before the payment of any security deposit. The campaign Smart Move is aimed at easing the process and move-in overheads for the tenants and comes amid recent reports indicating a visible increase in relocation amongst tenants across the UAE. It includes families moving to larger units and even cross emirate movement due to reduced rents. However even with lower rents moving houses can be an expensive proposition if you add on costs like commissions deposits and advance rentals said a top company official. Moving houses can be a daunting task even if we leave out the financial outlay involved which can be filled ...
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UAE-based Sultan bin Ali Al Owais Real Estate has introduced a 90-day campaign for new tenants across its 3000 properties in the country offering flexible rent payment plans and zero percent commission in addition to helping them move in before the payment of any security deposit. The campaign Smart Move is aimed at easing the process and move-in overheads for the tenants and comes amid recent reports indicating a visible increase in relocation amongst tenants across the UAE. It includes families moving to larger units and even cross emirate movement due to reduced rents. However even with lower rents moving houses can be an expensive proposition if you add on costs like commissions deposits and advance rentals said a top company official. Moving houses can be a daunting task even if we leave out the financial outlay involved which can be filled ...
From vaccines to surgical implants numerous medical and healthcare products are derived from biological sources that make them highly sensitive to fluctuations in temperature humidity pressure light exposure as well as shock events. The Middle East frequently experiences temperatures of more than 40 C during the summer months making it extremely important that healthcare products with a short shelf-life are transported and delivered in a safe and reliable manner especially when transported over long distances. Every year the global pharmaceuticals industry suffers a loss of products worth more than 15 billion due to temperature fluctuations during transit. Logistics companies already the backbone of global trade have in-depth knowledge of local regulations customs compliance and environmental conditions that help to determine the right distribution route. di...
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From vaccines to surgical implants numerous medical and healthcare products are derived from biological sources that make them highly sensitive to fluctuations in temperature humidity pressure light exposure as well as shock events. The Middle East frequently experiences temperatures of more than 40 C during the summer months making it extremely important that healthcare products with a short shelf-life are transported and delivered in a safe and reliable manner especially when transported over long distances. Every year the global pharmaceuticals industry suffers a loss of products worth more than 15 billion due to temperature fluctuations during transit. Logistics companies already the backbone of global trade have in-depth knowledge of local regulations customs compliance and environmental conditions that help to determine the right distribution route. di...
Leading developer The First Group said it has achieved a major construction milestone for Ciel - its ambitious hotel project which is set to become the world s tallest on completion - with the largest concrete pour of 7 000 cu m over a continuous 48-hour period this week. More than 11 800 cu m of concrete and in excess of 3 000 tonnes of steel are being used to construct the building s foundations highlighting the sheer scale of the project said the statement from the Dubai group. A final pour consisting of 1 000 cu m of concrete is scheduled for September 3. According to The First Group it is making rapid progress in the development of Ciel its largest and most ambitious project to date with the high-profile Dubai Marina property s foundations nearing completion. Once it opens in 2023 the Ciel project will set a new global hospita...
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Leading developer The First Group said it has achieved a major construction milestone for Ciel - its ambitious hotel project which is set to become the world s tallest on completion - with the largest concrete pour of 7 000 cu m over a continuous 48-hour period this week. More than 11 800 cu m of concrete and in excess of 3 000 tonnes of steel are being used to construct the building s foundations highlighting the sheer scale of the project said the statement from the Dubai group. A final pour consisting of 1 000 cu m of concrete is scheduled for September 3. According to The First Group it is making rapid progress in the development of Ciel its largest and most ambitious project to date with the high-profile Dubai Marina property s foundations nearing completion. Once it opens in 2023 the Ciel project will set a new global hospita...
Dubai s real estate sales transactions grew by 64 per cent in June with an average of around 570 properties sold every seven days according to the emirate s official sales price index Mo asher. In Q2 the emirate s apartment index rose by 0.58% while villa/townhouse index remained unchanged stated the report compiled by Dubai Land Department in cooperation with UAE real estate portal Property Finder. In June the overall monthly index recorded 1.113 and an index value of AED 1 066 791. This is a decrease of 0.09% since the beginning of the year and a decrease of 0.7% month-on-month it stated. The base year for Mo asher is 2012 and the base month for the monthly index is January 2012 with the base quarter for the quarterly index being Q1 2012. According to DLD a strong growth in June laid the foundation for a faster recovery ...
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Dubai s real estate sales transactions grew by 64 per cent in June with an average of around 570 properties sold every seven days according to the emirate s official sales price index Mo asher. In Q2 the emirate s apartment index rose by 0.58% while villa/townhouse index remained unchanged stated the report compiled by Dubai Land Department in cooperation with UAE real estate portal Property Finder. In June the overall monthly index recorded 1.113 and an index value of AED 1 066 791. This is a decrease of 0.09% since the beginning of the year and a decrease of 0.7% month-on-month it stated. The base year for Mo asher is 2012 and the base month for the monthly index is January 2012 with the base quarter for the quarterly index being Q1 2012. According to DLD a strong growth in June laid the foundation for a faster recovery ...
UAE-based GVG Real Estate Development said it has introduced innovative solutions for real estate buyers of delayed or canceled off-plan projects inside or outside the UAE who are experiencing delays in their projects due to the Covid crisis. GVG Real Estate Development said it has introduced innovative real estate solutions for real estate buyers of delayed or canceled off-plan projects inside or outside the UAE who are experiencing delays in their projects due to the recent current crisis which is expected to have long-term repercussions. A major Emirati development company GVG said the real estate innovative solutions target those investors or end-users who have invested in troubled off-plan real estate projects inside or outside the UAE and are not interested to continue with these projects. To achieve its vision in providing innovative solutions to distre...
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UAE-based GVG Real Estate Development said it has introduced innovative solutions for real estate buyers of delayed or canceled off-plan projects inside or outside the UAE who are experiencing delays in their projects due to the Covid crisis. GVG Real Estate Development said it has introduced innovative real estate solutions for real estate buyers of delayed or canceled off-plan projects inside or outside the UAE who are experiencing delays in their projects due to the recent current crisis which is expected to have long-term repercussions. A major Emirati development company GVG said the real estate innovative solutions target those investors or end-users who have invested in troubled off-plan real estate projects inside or outside the UAE and are not interested to continue with these projects. To achieve its vision in providing innovative solutions to distre...
RAK AMI Hotel a key hotel development and management company based in Ras Al Khaimah has announced significant progress in the construction of its flagship hospitality project in Ras Al Khaimah the Mövenpick Resort Al Marjan Island. Scheduled for completion in September 2021 work on Mövenpick Resort Al Marjan Island has been progressing as per schedule despite the Covid-19 challenges. The AED 543 million ( 148 million) Mövenpick Resort Al Marjan Island is located centrally in Al Marjan Island the flagship lifestyle and leisure destination developed by RAK master-developer Marjan. Set in elegantly landscaped gardens with its own secluded white sandy beach the hotel boasts 418 rooms all with direct sea views. Guests can choose from large-sized family rooms suites or 28 beachfront chalets with private pools and gardens. RA...
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RAK AMI Hotel a key hotel development and management company based in Ras Al Khaimah has announced significant progress in the construction of its flagship hospitality project in Ras Al Khaimah the Mövenpick Resort Al Marjan Island. Scheduled for completion in September 2021 work on Mövenpick Resort Al Marjan Island has been progressing as per schedule despite the Covid-19 challenges. The AED 543 million ( 148 million) Mövenpick Resort Al Marjan Island is located centrally in Al Marjan Island the flagship lifestyle and leisure destination developed by RAK master-developer Marjan. Set in elegantly landscaped gardens with its own secluded white sandy beach the hotel boasts 418 rooms all with direct sea views. Guests can choose from large-sized family rooms suites or 28 beachfront chalets with private pools and gardens. RA...
The Arab-Brazilian Chamber of Commerce (ABCC) has partnered with the Union of Arab Chambers to host the latest episode of its series of webinars launched to tackle the long-term effects of the ongoing Covid-19 pandemic on the different aspects of trade relations between Brazil and key Arab states. To be held on Wednesday August 12 2020 the upcoming high-level virtual conference will focus on the current state of the Arab logistics sector against the backdrop of unprecedented global market challenges. The event is titled The impact of the Covid-19 crisis on the Arab logistics industry: Challenges and Opportunities for Arab-South American partnerships. The specialists will explore the changes within the global logistics landscape brought about by Covid-19 and their impact on the Arab world in addition to talking about the direction of the Arab-South American logistics alliance. The major high...
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The Arab-Brazilian Chamber of Commerce (ABCC) has partnered with the Union of Arab Chambers to host the latest episode of its series of webinars launched to tackle the long-term effects of the ongoing Covid-19 pandemic on the different aspects of trade relations between Brazil and key Arab states. To be held on Wednesday August 12 2020 the upcoming high-level virtual conference will focus on the current state of the Arab logistics sector against the backdrop of unprecedented global market challenges. The event is titled The impact of the Covid-19 crisis on the Arab logistics industry: Challenges and Opportunities for Arab-South American partnerships. The specialists will explore the changes within the global logistics landscape brought about by Covid-19 and their impact on the Arab world in addition to talking about the direction of the Arab-South American logistics alliance. The major high...
HH Sheikh Humaid bin Rashid Al Nuaimi Supreme Council Member and Ruler of Ajman has issued a new law to regulate real estate owners affairs in the northern emirate. The law which includes 41 articles shall apply to major properties and sub-properties in areas where real estate development is permitted whether they were licenced before or after the issuance of the law and including real estate in free zones reported state news agency Wam. The law aims to regulate the management of joint and regular facilities according to the best services quality standards as well as sub-property owners committees to enable them to conduct their work achieve transparency and avoid conflicts of interest when contracting services suppliers in joint facilities it stated. It also enables the Department of Land and Real Estate Regulation in Ajman to supervise and monitor...
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HH Sheikh Humaid bin Rashid Al Nuaimi Supreme Council Member and Ruler of Ajman has issued a new law to regulate real estate owners affairs in the northern emirate. The law which includes 41 articles shall apply to major properties and sub-properties in areas where real estate development is permitted whether they were licenced before or after the issuance of the law and including real estate in free zones reported state news agency Wam. The law aims to regulate the management of joint and regular facilities according to the best services quality standards as well as sub-property owners committees to enable them to conduct their work achieve transparency and avoid conflicts of interest when contracting services suppliers in joint facilities it stated. It also enables the Department of Land and Real Estate Regulation in Ajman to supervise and monitor...
The University of Manchester Middle East Centre and Dubai Real Estate Institute (DREI) have signed an MoU to collaborate on higher education training and development opportunities for professionals working across the regional real estate industry. The MoU comes as part of the university s Strategic Talent Partnership programme for the Middle East which is aimed at providing a framework for active collaboration with professional and industry bodies as well as enterprises and other organisations. The new deal between DREI and the University will focus on promoting access to higher and professional education including part-time MBA and MSc programmes research opportunities and live projects supported by career services to enrich the learning experience for students of the University and DREI while also creating professional networking opportunities in the Middle East region remarked Hend Al Marri ...
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The University of Manchester Middle East Centre and Dubai Real Estate Institute (DREI) have signed an MoU to collaborate on higher education training and development opportunities for professionals working across the regional real estate industry. The MoU comes as part of the university s Strategic Talent Partnership programme for the Middle East which is aimed at providing a framework for active collaboration with professional and industry bodies as well as enterprises and other organisations. The new deal between DREI and the University will focus on promoting access to higher and professional education including part-time MBA and MSc programmes research opportunities and live projects supported by career services to enrich the learning experience for students of the University and DREI while also creating professional networking opportunities in the Middle East region remarked Hend Al Marri ...
Abu Dhabi Future Energy Company (Masdar) said its consortium with French group EDF Renewables has achieved a major construction milestone at its 400MW utility-scale wind farm project in Saudi Arabia with the arrival of 20 wind turbines at Duba Port. Dumat Al Jandal will be Saudi Arabia s first wind farm and the largest in the Middle East when completed. Construction began last August and commercial operations are due to start in the first quarter of 2022. Once fully operational the wind farm will power up to 70 000 Saudi households while displacing around 988 000 tonnes of carbon dioxide per year said the statement from Masdar. The Renewable Energy Project Development Office of Saudi Arabia s Ministry of Energy awarded the 500 million Dumat Al Jandal wind farm to the EDF Renewables-Masdar consortium in January 2019 following a competitive tender in which it h...
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Abu Dhabi Future Energy Company (Masdar) said its consortium with French group EDF Renewables has achieved a major construction milestone at its 400MW utility-scale wind farm project in Saudi Arabia with the arrival of 20 wind turbines at Duba Port. Dumat Al Jandal will be Saudi Arabia s first wind farm and the largest in the Middle East when completed. Construction began last August and commercial operations are due to start in the first quarter of 2022. Once fully operational the wind farm will power up to 70 000 Saudi households while displacing around 988 000 tonnes of carbon dioxide per year said the statement from Masdar. The Renewable Energy Project Development Office of Saudi Arabia s Ministry of Energy awarded the 500 million Dumat Al Jandal wind farm to the EDF Renewables-Masdar consortium in January 2019 following a competitive tender in which it h...
UAE s real estate companies have been hit by double whammy of Covid-19 pandemic and slumping oil price according to top ratings agency Moody s. Operating environment is set to weaken as economy slows on oil price decline and coronavirus effects stated Moody s in its latest report. The economic contraction and its fiscal implications will be most acute in Dubai where the economy is very reliant on tourism and transportation remarked Lahlou Meksaoui Lead Analyst at Moody s. The pandemic also coincides with a slump in oil prices which will affect the non-oil economy by curbing foreign investment and eroding economic confidence he stated. According to him Dubai homebuilders face further market weakening as demand continues to slow. The gross profit margins of homebuilders l...
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UAE s real estate companies have been hit by double whammy of Covid-19 pandemic and slumping oil price according to top ratings agency Moody s. Operating environment is set to weaken as economy slows on oil price decline and coronavirus effects stated Moody s in its latest report. The economic contraction and its fiscal implications will be most acute in Dubai where the economy is very reliant on tourism and transportation remarked Lahlou Meksaoui Lead Analyst at Moody s. The pandemic also coincides with a slump in oil prices which will affect the non-oil economy by curbing foreign investment and eroding economic confidence he stated. According to him Dubai homebuilders face further market weakening as demand continues to slow. The gross profit margins of homebuilders l...
UAE-based resort developer Mirage Leisure & Development and lead consultant WSP in the Middle East have achieved a major construction miletone clocking 23 million working hours without a Lost Time Injury (LTI) at the Address Residences Jumeriah Resort project in Dubai. WSP in the Middle East is the lead consultant architect of record structural engineer security consultant and fire and life safety consultant for the project. Once completed Address Residences Jumeriah Resort will feature a 217-hotel room and suite five-star Address Hotel 443 branded serviced apartments and 478 residential units together with spa high-end food and beverage outlets and extensive landscaped areas over a large podium and extended ground floor level resort landscape environment that connects directly to JBR beachfront. This milestone has been reached through the hard work and com...
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UAE-based resort developer Mirage Leisure & Development and lead consultant WSP in the Middle East have achieved a major construction miletone clocking 23 million working hours without a Lost Time Injury (LTI) at the Address Residences Jumeriah Resort project in Dubai. WSP in the Middle East is the lead consultant architect of record structural engineer security consultant and fire and life safety consultant for the project. Once completed Address Residences Jumeriah Resort will feature a 217-hotel room and suite five-star Address Hotel 443 branded serviced apartments and 478 residential units together with spa high-end food and beverage outlets and extensive landscaped areas over a large podium and extended ground floor level resort landscape environment that connects directly to JBR beachfront. This milestone has been reached through the hard work and com...
Bahri Logistics one of the six Bahri business units has reached a new milestone with the completion of the shipment of mobile stations with a voltage of 132 and 110 kV and a capacity of 67 MVA for Saudi Electricity Company (SEC). Marking the largest cargo that the company secured after it signed a contract with SEC in May 2016 the shipment consisted of seven sets of transformers manufactured by Siemens France a statement by Bahri Logistics said. Divided into 21 trailers the mobile stations were transported from the Port of Fos-sur-Mer in France to their final destinations in Saudi Arabia in two batches during the third and fourth quarters of 2019. Two transformer sets were shipped in the first batch and the remaining five sets in the second batch. Both shipments were cleared and delivered without any port demurrage. Ahmed Al Ghaith President of Bahri Logisti...
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Bahri Logistics one of the six Bahri business units has reached a new milestone with the completion of the shipment of mobile stations with a voltage of 132 and 110 kV and a capacity of 67 MVA for Saudi Electricity Company (SEC). Marking the largest cargo that the company secured after it signed a contract with SEC in May 2016 the shipment consisted of seven sets of transformers manufactured by Siemens France a statement by Bahri Logistics said. Divided into 21 trailers the mobile stations were transported from the Port of Fos-sur-Mer in France to their final destinations in Saudi Arabia in two batches during the third and fourth quarters of 2019. Two transformer sets were shipped in the first batch and the remaining five sets in the second batch. Both shipments were cleared and delivered without any port demurrage. Ahmed Al Ghaith President of Bahri Logisti...
Abu Dhabi Waste Management Center (Tadweer) said it has stepped up efforts to recycle the construction and demolition (C&D) waste as part of a strategic plan to implement a world- class waste management system in the emirate. Tadweer is the key government entity responsible for all activities related to the development of waste management services in Abu Dhabi including the collection transportation treatment and disposal of waste in a safe efficient and economical manner. The move comes as part of Tadweer s commitment to implementing Abu Dhabi Executive Council s resolution that mandates the use of a minimum quantity of 40 per cent recycled material in different road and construction projects across the emirate. Over the past year Tadweer had received 1 808 291 tonnes of C&D waste from Abu Dhabi region accounting for 26 per cent of the total waste han...
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Abu Dhabi Waste Management Center (Tadweer) said it has stepped up efforts to recycle the construction and demolition (C&D) waste as part of a strategic plan to implement a world- class waste management system in the emirate. Tadweer is the key government entity responsible for all activities related to the development of waste management services in Abu Dhabi including the collection transportation treatment and disposal of waste in a safe efficient and economical manner. The move comes as part of Tadweer s commitment to implementing Abu Dhabi Executive Council s resolution that mandates the use of a minimum quantity of 40 per cent recycled material in different road and construction projects across the emirate. Over the past year Tadweer had received 1 808 291 tonnes of C&D waste from Abu Dhabi region accounting for 26 per cent of the total waste han...
The real estate market in Egyptian capital Cairo remained stable in second quarter despite challenging global economic conditions according to real estate expert JLL. Despite a slowdown in Q2 the residential market performed comparatively well on an annual basis and it saw the completion of one project in Q2 2020 bringing the total stock to 159 000 units. Around 35 000 units are currently under construction and are expected to be completed in the second half of the year stated JLL in its Cairo Real Estate Market Performance report. In order to attract new developers and investors in the long term the Central Bank of Egypt (CBE) has reduced interest rates by 3% the lowest rate since 2016 with the aim to support and finance projects through bank loans rather than relying on off-plan sales it added. The real estate market in Egypt continues to benefit from the var...
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The real estate market in Egyptian capital Cairo remained stable in second quarter despite challenging global economic conditions according to real estate expert JLL. Despite a slowdown in Q2 the residential market performed comparatively well on an annual basis and it saw the completion of one project in Q2 2020 bringing the total stock to 159 000 units. Around 35 000 units are currently under construction and are expected to be completed in the second half of the year stated JLL in its Cairo Real Estate Market Performance report. In order to attract new developers and investors in the long term the Central Bank of Egypt (CBE) has reduced interest rates by 3% the lowest rate since 2016 with the aim to support and finance projects through bank loans rather than relying on off-plan sales it added. The real estate market in Egypt continues to benefit from the var...
NNTC a software developer and solutions provider said it has successfully deployed its iFalcon Foreman solution at leading UAE contracting firm Al Nasiya Construction. Powered by NNTC s trademark iFalcon video analytics technology this solution is specifically engineered for the construction industry which automates the processes of monitoring worker attendance subcontractor attendance and calculating overtime. The iFalcon Foreman application scans the faces of workers before the start of each shift with its recognition accuracy at over 98% and automatically clocks them in said the statement from NNTC. This automation of an otherwise time-consuming manual process speeds up check-in by five times simplifies monitoring and increases transparency on subcontractor attendance with instant overtime calculation it stated. After implemen...
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NNTC a software developer and solutions provider said it has successfully deployed its iFalcon Foreman solution at leading UAE contracting firm Al Nasiya Construction. Powered by NNTC s trademark iFalcon video analytics technology this solution is specifically engineered for the construction industry which automates the processes of monitoring worker attendance subcontractor attendance and calculating overtime. The iFalcon Foreman application scans the faces of workers before the start of each shift with its recognition accuracy at over 98% and automatically clocks them in said the statement from NNTC. This automation of an otherwise time-consuming manual process speeds up check-in by five times simplifies monitoring and increases transparency on subcontractor attendance with instant overtime calculation it stated. After implemen...
GAC Pindar the marine leisure and events arm of the GAC Group has been appointed the official logistics provider for the world s greatest competitive sailing challenge The Ocean Race. It is the first company ever to have been appointed to the task for a third consecutive time following its successful collaboration for the 2014-15 and 2017-18 editions of the Race a statement said. The 14th edition of the epic 38 000NM Race will start in Alicante Spain and circumnavigate the globe visiting 10 international cities finishing in Genoa Italy nine months later. As an official partner of The Ocean Race GAC Pindar will provide feasibility planning transportation of Race Village infrastructure broadcast and other support equipment to host cities customs clearance storage and relocation services for potential urgent spares site management on-the-ground staff and provisio...
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GAC Pindar the marine leisure and events arm of the GAC Group has been appointed the official logistics provider for the world s greatest competitive sailing challenge The Ocean Race. It is the first company ever to have been appointed to the task for a third consecutive time following its successful collaboration for the 2014-15 and 2017-18 editions of the Race a statement said. The 14th edition of the epic 38 000NM Race will start in Alicante Spain and circumnavigate the globe visiting 10 international cities finishing in Genoa Italy nine months later. As an official partner of The Ocean Race GAC Pindar will provide feasibility planning transportation of Race Village infrastructure broadcast and other support equipment to host cities customs clearance storage and relocation services for potential urgent spares site management on-the-ground staff and provisio...
Lootah Real Estate Development has appointed Russell Owen as its new chief operations officer and Faraz Kothari as the chief financial officer in line with the centralisation of its organisational structure. One of the region s most prominent real estate developers Lootah said the significant changes in leadership aim to redirect the focus on ensuring a seamless transition towards the next phase of growth in the beginning of a new era post-coronavirus. This reflects the company s proactive strategy to adapt and keep pace with the changes in market conditions it stated. As Lootah s COO Owen will build on the distinctive capabilities of the Emirati group in key areas of real estate and development including the acquisition of new assets renovations and upgrades to its existing assets and then ultimately the disposal of its assets. &nbs...
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Lootah Real Estate Development has appointed Russell Owen as its new chief operations officer and Faraz Kothari as the chief financial officer in line with the centralisation of its organisational structure. One of the region s most prominent real estate developers Lootah said the significant changes in leadership aim to redirect the focus on ensuring a seamless transition towards the next phase of growth in the beginning of a new era post-coronavirus. This reflects the company s proactive strategy to adapt and keep pace with the changes in market conditions it stated. As Lootah s COO Owen will build on the distinctive capabilities of the Emirati group in key areas of real estate and development including the acquisition of new assets renovations and upgrades to its existing assets and then ultimately the disposal of its assets. &nbs...
The real estate sales transactions in Dubai have grown by over 60 per cent in June according to a report by Property Finder. For the last 4 weeks the Dubai real estate market has been transacting more than 570 sales transactions weekly on average. These figures only returned after the secondary market bounced back and are back to pre-covid levels it stated. The past three weeks the number of weekly real estate sales transactions have been consistently increasing by almost 11 percent on average it added. The second quarter had a total 5 564 sales transactions worth AED 10.88 billion ( 2.9 billion) which is half of what transacted in Q1 2020 according to Property Finder. A strong June laid the foundation for a faster recovery and we are seeing patterns of a V shaped recovery as we are back to the transaction levels of February an...
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The real estate sales transactions in Dubai have grown by over 60 per cent in June according to a report by Property Finder. For the last 4 weeks the Dubai real estate market has been transacting more than 570 sales transactions weekly on average. These figures only returned after the secondary market bounced back and are back to pre-covid levels it stated. The past three weeks the number of weekly real estate sales transactions have been consistently increasing by almost 11 percent on average it added. The second quarter had a total 5 564 sales transactions worth AED 10.88 billion ( 2.9 billion) which is half of what transacted in Q1 2020 according to Property Finder. A strong June laid the foundation for a faster recovery and we are seeing patterns of a V shaped recovery as we are back to the transaction levels of February an...
The Dubai Land Department DLD through the Promotion and Real Estate Investment Management Sector has launched its new Invest in Dubai initiative under the theme Discussing the Opportunities that Arise from Dubai as a Real Estate Investment Destination . The initiative aims to highlight Dubai s position in real estate on a global front. It also sets out to confirm the vision and aspirations of Dubai being a leading city in the world underpinning various real estate investment projects through an automated virtual platform that features everyone operating in this field including developers investors and brokers linking them with investors from around the world said the statement from DLD. The event which was broadcast live via a virtual platform witnessed the attendance of a number of real estate developers representatives from the ...
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The Dubai Land Department DLD through the Promotion and Real Estate Investment Management Sector has launched its new Invest in Dubai initiative under the theme Discussing the Opportunities that Arise from Dubai as a Real Estate Investment Destination . The initiative aims to highlight Dubai s position in real estate on a global front. It also sets out to confirm the vision and aspirations of Dubai being a leading city in the world underpinning various real estate investment projects through an automated virtual platform that features everyone operating in this field including developers investors and brokers linking them with investors from around the world said the statement from DLD. The event which was broadcast live via a virtual platform witnessed the attendance of a number of real estate developers representatives from the ...
The Saudi construction sector has been most affected by the suspension of economic activities during the coronavirus (Covid-19) pandemic. However specialists in the construction and urban development sector are expecting a strong resumption of work which would contribute to reducing economic losses while completing pending projects reported Saudi daily Asharq Al Awsat. They affirmed that smoothly starting economic activities can ensure the sector s gradual recovery and reinforce expectations for an active return to construction in Saudi Arabia to complete the implementation of 5 000 projects worth 1.6 trillion it stated. These hopes come in light of the challenges facing the sector due to the coronavirus crisis which has cast a shadow over Saudi contracting activity the report added. According to the Saudi Contractors Authority...
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The Saudi construction sector has been most affected by the suspension of economic activities during the coronavirus (Covid-19) pandemic. However specialists in the construction and urban development sector are expecting a strong resumption of work which would contribute to reducing economic losses while completing pending projects reported Saudi daily Asharq Al Awsat. They affirmed that smoothly starting economic activities can ensure the sector s gradual recovery and reinforce expectations for an active return to construction in Saudi Arabia to complete the implementation of 5 000 projects worth 1.6 trillion it stated. These hopes come in light of the challenges facing the sector due to the coronavirus crisis which has cast a shadow over Saudi contracting activity the report added. According to the Saudi Contractors Authority...
Ithra Dubai s iconic One Za abeel development has achieved a major milestone with its key development The Link the world s largest cantilever accomplishing its final slide at ground level. This part of the structure is now extended to its ultimate length of 189 m bracing The Link for its show-stopping engineering feat where it will be lifted 100 m above ground level to its final position connecting One Za abeel s two towers. A cantilevered structure will be later added giving the Link its final shape as a cantilevered sky concourse. Currently The Link is safely positioned over The Happiness Bridge in Dubai s Financial District and is undergoing its final technical preparations for its epic ascent later this year. said the statement from Ithra Dubai. The Link began to take shape in a series of slides to elongate the structure to its final p...
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Ithra Dubai s iconic One Za abeel development has achieved a major milestone with its key development The Link the world s largest cantilever accomplishing its final slide at ground level. This part of the structure is now extended to its ultimate length of 189 m bracing The Link for its show-stopping engineering feat where it will be lifted 100 m above ground level to its final position connecting One Za abeel s two towers. A cantilevered structure will be later added giving the Link its final shape as a cantilevered sky concourse. Currently The Link is safely positioned over The Happiness Bridge in Dubai s Financial District and is undergoing its final technical preparations for its epic ascent later this year. said the statement from Ithra Dubai. The Link began to take shape in a series of slides to elongate the structure to its final p...
The Saudi construction equipment market is poised for solid growth over the next five years thus registering a CAGR of 4.79 per cent during the forecast period of 2020-2025 according to a new survey by Reportlinker.com. Saudi Arabia is one of the fastest-growing nations in the GCC region. The low and middle-income groups of people in the country and the government s significant efforts in constructing new residential buildings are the factors driving the demand for construction machinery market. The construction sector had experienced a strong rebound in 2019. However the outbreak of Covid-19 has affected the growth of the construction sector negatively. As the construction sector is labor intensive it requires a significant number of laborers. Currently the prevention of the spread of Covid-19 is of paramount concern. This concern along with the ...
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The Saudi construction equipment market is poised for solid growth over the next five years thus registering a CAGR of 4.79 per cent during the forecast period of 2020-2025 according to a new survey by Reportlinker.com. Saudi Arabia is one of the fastest-growing nations in the GCC region. The low and middle-income groups of people in the country and the government s significant efforts in constructing new residential buildings are the factors driving the demand for construction machinery market. The construction sector had experienced a strong rebound in 2019. However the outbreak of Covid-19 has affected the growth of the construction sector negatively. As the construction sector is labor intensive it requires a significant number of laborers. Currently the prevention of the spread of Covid-19 is of paramount concern. This concern along with the ...
In his capacity as Ruler of Dubai Vice President and Prime Minister of the UAE His Highness Sheikh Mohammed bin Rashid Al Maktoum has issued a new law pertaining to the Dubai Real Estate Institute (DREI). According to the new law DREI is authorised to grant qualification certificates to real estate professionals and service providers offer consultation services to real estate training professionals create teams of real estate experts to advice DREI and conduct studies collaborate with local and international academic institutes to promote the dissemination of knowledge and create training programmes to promote the development of the emirate s real estate sector reported state new agency Wam. Pursuant to the Law the executive body of DREI will be composed of a CEO and administration finance and technical executives. The staff of DREI are subject to the law pertaining to the management of Duba...
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In his capacity as Ruler of Dubai Vice President and Prime Minister of the UAE His Highness Sheikh Mohammed bin Rashid Al Maktoum has issued a new law pertaining to the Dubai Real Estate Institute (DREI). According to the new law DREI is authorised to grant qualification certificates to real estate professionals and service providers offer consultation services to real estate training professionals create teams of real estate experts to advice DREI and conduct studies collaborate with local and international academic institutes to promote the dissemination of knowledge and create training programmes to promote the development of the emirate s real estate sector reported state new agency Wam. Pursuant to the Law the executive body of DREI will be composed of a CEO and administration finance and technical executives. The staff of DREI are subject to the law pertaining to the management of Duba...
The UAE Ministry of Justice in coordination with the Dubai Real Estate Institute (DREI) have announced the formation of a committee to interview and test applicants to register with the real estate experts roster at the ministry and work to prepare qualification and training programmes for those who pass the prescribed tests. The committee has approved the following classification categories as real estate experts: rental appraisal transaction freehold and general expert said the statement from DREI. Commenting on the new panel CEO Hend Al Marri said: The formation of this committee is the result of a co-operation between the ministry and the DREI to accredit a group of real estate experts in accordance with the best global practices. This guarantees real estate experts with a high degree of competence and experience before the judicial authorities ...
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The UAE Ministry of Justice in coordination with the Dubai Real Estate Institute (DREI) have announced the formation of a committee to interview and test applicants to register with the real estate experts roster at the ministry and work to prepare qualification and training programmes for those who pass the prescribed tests. The committee has approved the following classification categories as real estate experts: rental appraisal transaction freehold and general expert said the statement from DREI. Commenting on the new panel CEO Hend Al Marri said: The formation of this committee is the result of a co-operation between the ministry and the DREI to accredit a group of real estate experts in accordance with the best global practices. This guarantees real estate experts with a high degree of competence and experience before the judicial authorities ...
Leading players from the real estate industry will discuss the impact of Covid-19 on the real estate sector in the UAE and Saudi Arabia at a virtual seminar being hosted by Informa Markets the organisers of the Cityscape portfolio for the global real estate sector on July 7. Informa Markets will highlight and dissect the shifting sands of local regional and international markets caused by the Coronavirus pandemic in a series of virtual and live events which will help the diverse sectors across real estate get back to business in 2020. The upcoming session titled The Impact of Covid-19 on the Real Estate Sector: Spotlight on UAE and KSA will explore the ongoing transformation of the office sector and highlight how the Arabian Gulf s two most populous nations are getting back to growth through this evolution. During the online seminar industry experts Dr C...
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Leading players from the real estate industry will discuss the impact of Covid-19 on the real estate sector in the UAE and Saudi Arabia at a virtual seminar being hosted by Informa Markets the organisers of the Cityscape portfolio for the global real estate sector on July 7. Informa Markets will highlight and dissect the shifting sands of local regional and international markets caused by the Coronavirus pandemic in a series of virtual and live events which will help the diverse sectors across real estate get back to business in 2020. The upcoming session titled The Impact of Covid-19 on the Real Estate Sector: Spotlight on UAE and KSA will explore the ongoing transformation of the office sector and highlight how the Arabian Gulf s two most populous nations are getting back to growth through this evolution. During the online seminar industry experts Dr C...
Bahrain s real estate market despite facing a hit due to coronavirus Covid-19 pandemic remains a good opportunity for the investors with developers offering a wide range of incentives reported The Gulf Daily News our sister publication citing an industry expert. For further details visit https://www.gdnonline.com ...
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Bahrain s real estate market despite facing a hit due to coronavirus Covid-19 pandemic remains a good opportunity for the investors with developers offering a wide range of incentives reported The Gulf Daily News our sister publication citing an industry expert. For further details visit https://www.gdnonline.com ...
A total of 355 000 tonnes of construction and demolition waste was recycled last year slashing the overall quantity dumped at Askar landfill by 52 per cent reported the Gulf Daily News our sister publication citing the works ministry data. For further details visit https://www.gdnonline.com ...
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A total of 355 000 tonnes of construction and demolition waste was recycled last year slashing the overall quantity dumped at Askar landfill by 52 per cent reported the Gulf Daily News our sister publication citing the works ministry data. For further details visit https://www.gdnonline.com ...
Oman has awarded tenders and additional works worth more than RO316 million ( 818 million) across the sultanate including the contracts for a protection dam at Wadi An aar region and side protection at Salalah Port at a cost of RO23 million ( 59 million) reported Oman Daily Observer . The approval for these tenders came during a meeting of Oman Tender Board held recently under the chairmanship of Dr Rasheed bin Al Safi al Hraibi. Besides the Wadi An aar and Salalah Port tenders the board approved RO316 worth tenders and additional works for the following development projects: Part 3 of Adam-Thumrait dual-carriageway for a length of 133 km at a cost of RO74 million. Part 4 of Adam-Thumrait dual-carriageway for a length of 135 km at a cost of RO115 million. Part 5 of Adam-Thumrait dual-carriageway for a length of 133 km at a cost of ...
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Oman has awarded tenders and additional works worth more than RO316 million ( 818 million) across the sultanate including the contracts for a protection dam at Wadi An aar region and side protection at Salalah Port at a cost of RO23 million ( 59 million) reported Oman Daily Observer . The approval for these tenders came during a meeting of Oman Tender Board held recently under the chairmanship of Dr Rasheed bin Al Safi al Hraibi. Besides the Wadi An aar and Salalah Port tenders the board approved RO316 worth tenders and additional works for the following development projects: Part 3 of Adam-Thumrait dual-carriageway for a length of 133 km at a cost of RO74 million. Part 4 of Adam-Thumrait dual-carriageway for a length of 135 km at a cost of RO115 million. Part 5 of Adam-Thumrait dual-carriageway for a length of 133 km at a cost of ...
Nomad Homes a digital real estate platform designed to streamline buying and renting residential real estate has announced the launch of its services in Dubai. Set to transform one of the emirate s largest industries Nomad is the first technology platform to exclusively serve buyers and renters - a key differentiator from traditional brokerages and portals. A further differentiator is the company s technology-first approach: Home seekers are equipped with search tools virtual tours digital document signing and more all of which are aimed at providing customers with an online experience from start to finish. The company partners with local real estate brokerages to provide a growing inventory of unique curated properties said the statement from Nomad Homes. Nomad s machine learning algorithm then uses each cu...
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Nomad Homes a digital real estate platform designed to streamline buying and renting residential real estate has announced the launch of its services in Dubai. Set to transform one of the emirate s largest industries Nomad is the first technology platform to exclusively serve buyers and renters - a key differentiator from traditional brokerages and portals. A further differentiator is the company s technology-first approach: Home seekers are equipped with search tools virtual tours digital document signing and more all of which are aimed at providing customers with an online experience from start to finish. The company partners with local real estate brokerages to provide a growing inventory of unique curated properties said the statement from Nomad Homes. Nomad s machine learning algorithm then uses each cu...
Dubai s Roads and Transport Authority (RTA) said work has been fully completed on its Al Quoz Bus Depot. It complements other bus depots at Jebel Ali Al-Khawaneej Al Ruwayyah Al Aweer and Al Qusais serves buses operating on 24 routes all over Dubai said a statement from RTA. The new bus station boasts several key facilities including residential quarters comprising 102 rooms that can accommodate 368 drivers besides a food court for 120 individuals a clinic 18-bay workshop rest area plaza and gym. The depot also has a parking area for 273 buses in addition to offices for employees and technical staff it stated. Mattar Mohammed Al Tayer Director-General and Chairman of the Board of Executive Directors of Roads and Transport Authority RTA said: The construction of this depot complements RTA s efforts to upgrade the infrast...
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Dubai s Roads and Transport Authority (RTA) said work has been fully completed on its Al Quoz Bus Depot. It complements other bus depots at Jebel Ali Al-Khawaneej Al Ruwayyah Al Aweer and Al Qusais serves buses operating on 24 routes all over Dubai said a statement from RTA. The new bus station boasts several key facilities including residential quarters comprising 102 rooms that can accommodate 368 drivers besides a food court for 120 individuals a clinic 18-bay workshop rest area plaza and gym. The depot also has a parking area for 273 buses in addition to offices for employees and technical staff it stated. Mattar Mohammed Al Tayer Director-General and Chairman of the Board of Executive Directors of Roads and Transport Authority RTA said: The construction of this depot complements RTA s efforts to upgrade the infrast...
The construction output growth for this year in the Middle East and North Africa (Mena) region has been revised to -2.2% (down from -1.4% previously) even as the sector expects further cuts mainly due to the impact from Covid-19 and low oil prices according to GlobalData thus reflecting the disruption caused by the spread of Covid-19 and the weaker economic outlook. The immediate business impact of preventative measures against the coronavirus pandemic has hit the commercial sector hard. When businesses reopen and restrictions on movement are eased more during the third quarter demand is only expected to rebound marginally and the recovery in spending will be contingent on confidence picking up according to GlobalData. The lockdown is also likely to lead to long-lasting changes in consumer behavior and shape future investments in the sector it added. Yasmine Ghozzi the economist at GlobalData said: Despite oi...
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The construction output growth for this year in the Middle East and North Africa (Mena) region has been revised to -2.2% (down from -1.4% previously) even as the sector expects further cuts mainly due to the impact from Covid-19 and low oil prices according to GlobalData thus reflecting the disruption caused by the spread of Covid-19 and the weaker economic outlook. The immediate business impact of preventative measures against the coronavirus pandemic has hit the commercial sector hard. When businesses reopen and restrictions on movement are eased more during the third quarter demand is only expected to rebound marginally and the recovery in spending will be contingent on confidence picking up according to GlobalData. The lockdown is also likely to lead to long-lasting changes in consumer behavior and shape future investments in the sector it added. Yasmine Ghozzi the economist at GlobalData said: Despite oi...
Businesses in Bahrain have expressed wide concern over the economic implications of the ongoing Covid-19 pandemic with 55 per cent of the real estate and construction firms expecting closure in the next six months if things don t improve said a survey from the Bahrain Chamber of Commerce and Industry (BCCI). Called The Economic Impact of Coronavirus on Business Owners the survey was carried out by The Studies and Initiatives Center at the BCCI. Around 1 180 companies ranging from micro to large establishments in nearly a dozen sectors were surveyed during the full and partial closure of business in the country to prevent the spread of Covid-19. The survey found that tourism and hospitality industry would be the hardest hit with 71 per cent businesses expecting closure over the next 6 months amid fears of significant layoffs if the pandemic contiues wr...
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Businesses in Bahrain have expressed wide concern over the economic implications of the ongoing Covid-19 pandemic with 55 per cent of the real estate and construction firms expecting closure in the next six months if things don t improve said a survey from the Bahrain Chamber of Commerce and Industry (BCCI). Called The Economic Impact of Coronavirus on Business Owners the survey was carried out by The Studies and Initiatives Center at the BCCI. Around 1 180 companies ranging from micro to large establishments in nearly a dozen sectors were surveyed during the full and partial closure of business in the country to prevent the spread of Covid-19. The survey found that tourism and hospitality industry would be the hardest hit with 71 per cent businesses expecting closure over the next 6 months amid fears of significant layoffs if the pandemic contiues wr...
Modern methods of construction and adoption of smart building technologies will play a key role in improving building performances in the Covid-19 era and also mitigate/help fighting climate change impacts said Savills the leading global real estate advisors while highlighting the key trends that will shape the future of real estate in the Middle East and beyond. Savills was addressing some of the biggest names in the property sector in the region during an exclusive webinar hosted by the industry expert to announce the launch of its Global Impacts study in the Middle East. The third and latest edition of the report is dedicated to the topic of tipping points which examines the key issues that will shape the future of the real estate industry in the Middle East and beyond. Savills Middle East CEO Steven Morgan said: Savills Impacts report is one of our flagship globa...
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Modern methods of construction and adoption of smart building technologies will play a key role in improving building performances in the Covid-19 era and also mitigate/help fighting climate change impacts said Savills the leading global real estate advisors while highlighting the key trends that will shape the future of real estate in the Middle East and beyond. Savills was addressing some of the biggest names in the property sector in the region during an exclusive webinar hosted by the industry expert to announce the launch of its Global Impacts study in the Middle East. The third and latest edition of the report is dedicated to the topic of tipping points which examines the key issues that will shape the future of the real estate industry in the Middle East and beyond. Savills Middle East CEO Steven Morgan said: Savills Impacts report is one of our flagship globa...
Al Madina Logistics Services Company has launched handling operations at Mazunah Dry Port in Al Mazunah Free Zone one of the affiliates of Oman-based Public Establishment for Industrial Estates (Madayn). The operations relate to container handling refrigerated containers and incoming and outgoing consignments which are re-exported through Mazunah Dry Port Madayn said in a statement. Inspection clearance handling and release operations will take place at the assigned inspection areas at the dry port and all the consignments must pass through the port to complete these operations it added. The company will welcome all the importers exporters and traders at an assigned hall at the dry port according to the procedures followed in this context. The service fees collected from importers exporters and others will be through the use of an electronic payment system using bank cards approved by ...
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Al Madina Logistics Services Company has launched handling operations at Mazunah Dry Port in Al Mazunah Free Zone one of the affiliates of Oman-based Public Establishment for Industrial Estates (Madayn). The operations relate to container handling refrigerated containers and incoming and outgoing consignments which are re-exported through Mazunah Dry Port Madayn said in a statement. Inspection clearance handling and release operations will take place at the assigned inspection areas at the dry port and all the consignments must pass through the port to complete these operations it added. The company will welcome all the importers exporters and traders at an assigned hall at the dry port according to the procedures followed in this context. The service fees collected from importers exporters and others will be through the use of an electronic payment system using bank cards approved by ...
Saudi government has announced that the number of residential units that began construction during the first three months of 2020 surged by 17 per cent to 85 900 units compared to 73 400 units during the last quarter reported Asharq Al Awsat citing the housing ministry s periodic housing bulletin. The number of completed residential units across Saudi Arabia rose to 82 500 in Q1 up 1.75 per cent compared to 81 100 units in the fourth quarter of 2019 stated the report. There was a slight 0.8 per cent increase in the housing sector price index compared to the Q4 2019 the report said. Meanwhile Saudi authorities said a total of 19 800 households had benefitted from its Sakani housing programme in May. Of these 10 700 families have already moved into their new houses it added. ...
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Saudi government has announced that the number of residential units that began construction during the first three months of 2020 surged by 17 per cent to 85 900 units compared to 73 400 units during the last quarter reported Asharq Al Awsat citing the housing ministry s periodic housing bulletin. The number of completed residential units across Saudi Arabia rose to 82 500 in Q1 up 1.75 per cent compared to 81 100 units in the fourth quarter of 2019 stated the report. There was a slight 0.8 per cent increase in the housing sector price index compared to the Q4 2019 the report said. Meanwhile Saudi authorities said a total of 19 800 households had benefitted from its Sakani housing programme in May. Of these 10 700 families have already moved into their new houses it added. ...
Al Mouj Muscat Oman s leading mixed-use integrated tourism complex (ITC) has announced the launch of initial construction work at its luxurious marina-facing Juman Two apartments following the successful completion of ground-breaking and piling works at the development. It is a public-private venture between the UAE-based mall developer and leisure pioneer Majid Al Futtaim Properties and two of sultanate s entities - tourism development company Omran and investments development company Tanmia. Located on the Al Mouj Muscat oceanfront and near some of the most sought-after and well established community facilities Juman Two offers a choice of 152 one- and two-bedroom contemporary living spaces from the ground floor manor apartments with high ceilings on the water to penthouse level apartments with views to the ocean and the longest view of the 400-berth Al Mouj Marina creating a feeling of ...
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Al Mouj Muscat Oman s leading mixed-use integrated tourism complex (ITC) has announced the launch of initial construction work at its luxurious marina-facing Juman Two apartments following the successful completion of ground-breaking and piling works at the development. It is a public-private venture between the UAE-based mall developer and leisure pioneer Majid Al Futtaim Properties and two of sultanate s entities - tourism development company Omran and investments development company Tanmia. Located on the Al Mouj Muscat oceanfront and near some of the most sought-after and well established community facilities Juman Two offers a choice of 152 one- and two-bedroom contemporary living spaces from the ground floor manor apartments with high ceilings on the water to penthouse level apartments with views to the ocean and the longest view of the 400-berth Al Mouj Marina creating a feeling of ...
The global construction and real estate sector has been hit hard by the coronavirus (Covid-19) pandemic with reports indicating that revenue of the majority of organisations has been seriously impacted and some companies not expecting to survive beyond a few months. Other reports indicate that half of the planned projects have been delayed or cancelled. Gulf Construction which this year marks four decades as the leading construction magazine covering the Arabian Gulf region is conducting a survey to assess the impact of the Covid-19 crisis on the GCC s construction interiors and real estate sectors. Be part of our important survey by responding to the questions on the link below: https://shorturl.at/qzGO7 ...
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The global construction and real estate sector has been hit hard by the coronavirus (Covid-19) pandemic with reports indicating that revenue of the majority of organisations has been seriously impacted and some companies not expecting to survive beyond a few months. Other reports indicate that half of the planned projects have been delayed or cancelled. Gulf Construction which this year marks four decades as the leading construction magazine covering the Arabian Gulf region is conducting a survey to assess the impact of the Covid-19 crisis on the GCC s construction interiors and real estate sectors. Be part of our important survey by responding to the questions on the link below: https://shorturl.at/qzGO7 ...
Sheikh Mansour bin Zayed Al Nahyan Deputy Prime Minister Minister of Presidential Affairs and Chairman of the Abu Dhabi Judicial Department has approved the first batch of real estate conciliators working in the Real Estate Dispute Settlement Centre (Tasweya). Eighteen real estate conciliators including one woman were remotely sworn in before Yousef Saeed Al Ebri the under-secretary of the department in the presence of Abdullah Al Sahi the acting under-secretary of the Transport and Municipalities Department. All these conciliators have passed the appropriate standards introduced by the Abu Dhabi Judicial Academy. Al Ebri congratulated the conciliators and urged them to exert all possible efforts to amicably settle disputes which will reduce the litigation burdens on all parties. He also emphasised their role in reinforcing confidence and s...
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Sheikh Mansour bin Zayed Al Nahyan Deputy Prime Minister Minister of Presidential Affairs and Chairman of the Abu Dhabi Judicial Department has approved the first batch of real estate conciliators working in the Real Estate Dispute Settlement Centre (Tasweya). Eighteen real estate conciliators including one woman were remotely sworn in before Yousef Saeed Al Ebri the under-secretary of the department in the presence of Abdullah Al Sahi the acting under-secretary of the Transport and Municipalities Department. All these conciliators have passed the appropriate standards introduced by the Abu Dhabi Judicial Academy. Al Ebri congratulated the conciliators and urged them to exert all possible efforts to amicably settle disputes which will reduce the litigation burdens on all parties. He also emphasised their role in reinforcing confidence and s...
Providing an analysis on the real estate sector as the UAE adjusts to the new normal Dubai-based Lootah Real Estate Development outlined the top 5 trends that will shape up the local property market in the era post the Covid-19 pandemic. In its assessment of short-and medium-term changes that will arise in the aftermath of the pandemic Lootah said that amongst the biggest trends to turn up is the focus on building developments that enhance the quality of life through the application of integrated safety sanitation and automation principles. Focus on safety sanitation and automation Thanks to Abu Dhabi and Dubai being hailed as the top two most livable cities respectively in the Arab world according to the latest Global Liveability Index issued by The Economist Intelligence Unit in March this foremost trend will shore up the local real property sector s path to fast-tr...
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Providing an analysis on the real estate sector as the UAE adjusts to the new normal Dubai-based Lootah Real Estate Development outlined the top 5 trends that will shape up the local property market in the era post the Covid-19 pandemic. In its assessment of short-and medium-term changes that will arise in the aftermath of the pandemic Lootah said that amongst the biggest trends to turn up is the focus on building developments that enhance the quality of life through the application of integrated safety sanitation and automation principles. Focus on safety sanitation and automation Thanks to Abu Dhabi and Dubai being hailed as the top two most livable cities respectively in the Arab world according to the latest Global Liveability Index issued by The Economist Intelligence Unit in March this foremost trend will shore up the local real property sector s path to fast-tr...
Mat Heywood a seasoned construction litigator and arbitrator specialising in construction and infrastructure sector has announced plans to launch its new legal services firm Mantle Law in the region with headquarters based in Abu Dhabi. Formerly a partner at Clyde & Co Heywood has created a brand new enterprise that seeks to deliver a top-quality conflict-free service with the ability to offer innovative delivery and pricing as standard in the region. The Middle Eastern construction disputes market is one of the largest in the world with over 2.5 trillion worth of construction projects planned for completion by 2030. It is also highly competed and many global law firms have spent decades building a significant presence. The practice focuses on dispute resolution primarily arbitration but with extensive experience in litigation expert determination adjudi...
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Mat Heywood a seasoned construction litigator and arbitrator specialising in construction and infrastructure sector has announced plans to launch its new legal services firm Mantle Law in the region with headquarters based in Abu Dhabi. Formerly a partner at Clyde & Co Heywood has created a brand new enterprise that seeks to deliver a top-quality conflict-free service with the ability to offer innovative delivery and pricing as standard in the region. The Middle Eastern construction disputes market is one of the largest in the world with over 2.5 trillion worth of construction projects planned for completion by 2030. It is also highly competed and many global law firms have spent decades building a significant presence. The practice focuses on dispute resolution primarily arbitration but with extensive experience in litigation expert determination adjudi...
Saudi Investment Recycling Company (SIRC) a wholly-owned subsidiary of the Public Investment Fund (PIF) is marking a major construction milestone at its first Construction & Demolition Waste (CDW) recycling plant in Saudi Arabia. The state-of-the-art facility is in the final stages of construction and will be operational by July-end thus signaling the first step towards meeting the national ambition of diverting 60% of CDW from landfills by 2035 in alignment with the Kingdom s effort to accelerate the transition to a circular economy. The facility is the first to be developed under the memorandum of understanding (MoU) signed in July 2019 between SIRC the National Center for Waste Management and Amanat Al Riyadh for embracing integrated waste management and recycling activities in the capital. Located in Al Khair north district of Riyadh SIRC s new plant co...
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Saudi Investment Recycling Company (SIRC) a wholly-owned subsidiary of the Public Investment Fund (PIF) is marking a major construction milestone at its first Construction & Demolition Waste (CDW) recycling plant in Saudi Arabia. The state-of-the-art facility is in the final stages of construction and will be operational by July-end thus signaling the first step towards meeting the national ambition of diverting 60% of CDW from landfills by 2035 in alignment with the Kingdom s effort to accelerate the transition to a circular economy. The facility is the first to be developed under the memorandum of understanding (MoU) signed in July 2019 between SIRC the National Center for Waste Management and Amanat Al Riyadh for embracing integrated waste management and recycling activities in the capital. Located in Al Khair north district of Riyadh SIRC s new plant co...
Abu Dhabi s real estate market witnessed marginal declines in both values and rents during the first quarter. This was buoyed however by a 22 per cent increase in transactions and mortgage values which surged to hit Dh19.2 billion ( 5.2 billion) according to leading international property consultancy Chestertons. Off-plan sales in some of the capitals most sought after locations including Al Reem Island Saadiyat Island and Al Reef collectively accounted for over half of the total transaction value stated Chestertons in its special Abu Dhabi Market Report Q1 2020. A range of favourable developer-led off-plan payment options and the more recent revival of rent-to-own schemes have piqued the interest of potential buyers according to Chesterton. Overall the capital s real estate market continued to see declines in both values and rents although at a slower pa...
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Abu Dhabi s real estate market witnessed marginal declines in both values and rents during the first quarter. This was buoyed however by a 22 per cent increase in transactions and mortgage values which surged to hit Dh19.2 billion ( 5.2 billion) according to leading international property consultancy Chestertons. Off-plan sales in some of the capitals most sought after locations including Al Reem Island Saadiyat Island and Al Reef collectively accounted for over half of the total transaction value stated Chestertons in its special Abu Dhabi Market Report Q1 2020. A range of favourable developer-led off-plan payment options and the more recent revival of rent-to-own schemes have piqued the interest of potential buyers according to Chesterton. Overall the capital s real estate market continued to see declines in both values and rents although at a slower pa...
Kuwait s parliamentary legislative committee will discuss four amendments to proposals for laws related to amending some provisions of Decree Law 35/278 regarding real estate leasing reported Arab Times . MP Khaled Al Shatti who presented one of the proposals said I submitted the proposal by law in the matter of amending some provisions of Decree Law No. 35 of 1978 in the matter of renting of real estate. It specialises in looking into disputes related to rents whatever their value and the compensation arising from those disputes. Al Shatti has proposed adding a new article number (26) intto this Real Estate Tenancy Law which states that: In cases where the cabinet decides to suspend or stop work in public service of the state in order to protect public peace or health security of the public which is required by the supreme interest of the coun...
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Kuwait s parliamentary legislative committee will discuss four amendments to proposals for laws related to amending some provisions of Decree Law 35/278 regarding real estate leasing reported Arab Times . MP Khaled Al Shatti who presented one of the proposals said I submitted the proposal by law in the matter of amending some provisions of Decree Law No. 35 of 1978 in the matter of renting of real estate. It specialises in looking into disputes related to rents whatever their value and the compensation arising from those disputes. Al Shatti has proposed adding a new article number (26) intto this Real Estate Tenancy Law which states that: In cases where the cabinet decides to suspend or stop work in public service of the state in order to protect public peace or health security of the public which is required by the supreme interest of the coun...
The Big 5 the largest building and construction show in the Middle East Africa and South Asia region has been postponed to next year owing to the prevailing Covid-19 crisis. It will be held from September 12 to 15 at the Dubai World Trade Centre instead of the previously announced November 23-26 slot. These new dates also apply to the specialised events that are held alongside The Big 5 - The Big 5 Heavy Middle East Concrete HVAC R Expo Middle East Stone The Big 5 Solar and the Urban Design & Landscape Expo said the organisers dmg events. The decision was taken after a thorough consultation with key stakeholders groups in the wake of the effect of the coronavirus pandemic. The next edition of Big 5 is expected to boost the construction sector s recovery efforts in the post-Covid-19 era. It will launch the Digital Festival of Construction in November to assist the...
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The Big 5 the largest building and construction show in the Middle East Africa and South Asia region has been postponed to next year owing to the prevailing Covid-19 crisis. It will be held from September 12 to 15 at the Dubai World Trade Centre instead of the previously announced November 23-26 slot. These new dates also apply to the specialised events that are held alongside The Big 5 - The Big 5 Heavy Middle East Concrete HVAC R Expo Middle East Stone The Big 5 Solar and the Urban Design & Landscape Expo said the organisers dmg events. The decision was taken after a thorough consultation with key stakeholders groups in the wake of the effect of the coronavirus pandemic. The next edition of Big 5 is expected to boost the construction sector s recovery efforts in the post-Covid-19 era. It will launch the Digital Festival of Construction in November to assist the...
Dubai-based Al Ruwad Real Estate has appointed Alaa Masoud as the new general manager of marketing and sales. An expert in marketing and business development Masoud boasts 20 years of experience in media communication hospitality and real estate. Masoud started his career in Dubai in 2000 in Blue Media Group and Arab Media Group as a sales and marketing manager followed by a breakthrough into the real estate industry with a position of head of marketing for Azizi Developments. Since then he has managed various teams across Emirati brands such as Danube Properties Sharjah Oasis Real Estate Development and Tilal Properties. On the new appointment founder and CEO Ismail Al Hammadi said: The rapid development in the field of real estate marketing has encouraged the company to search for new real estate experiences in the field of marketing and sales in the UAE to be...
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Dubai-based Al Ruwad Real Estate has appointed Alaa Masoud as the new general manager of marketing and sales. An expert in marketing and business development Masoud boasts 20 years of experience in media communication hospitality and real estate. Masoud started his career in Dubai in 2000 in Blue Media Group and Arab Media Group as a sales and marketing manager followed by a breakthrough into the real estate industry with a position of head of marketing for Azizi Developments. Since then he has managed various teams across Emirati brands such as Danube Properties Sharjah Oasis Real Estate Development and Tilal Properties. On the new appointment founder and CEO Ismail Al Hammadi said: The rapid development in the field of real estate marketing has encouraged the company to search for new real estate experiences in the field of marketing and sales in the UAE to be...
Orion Engineered Carbons a worldwide supplier of specialty and high-performance Carbon Black said it is building a new logistics center within its largest manufacturing plant in Cologne Germany. Upon completion the central warehouse will be 8 850 sqm equaling a capacity of approximately 12 400 pallets. The new building a turnkey project of Goldbeck construction company will have eight truck docks. It will equalize plant traffic with about one hundred trucks passing through the plant gate every day. In addition the new warehouse will eliminate internal logistics with consolidation into one location. Orion will lease the warehouse from Grieshaber. We produce 160 000 metric tons and more than 100 differentiated grades of carbon black at this facility each year which must be treated and handled very carefully remarked Dr Sandra Niewiem Senior Vice President Specialty Carbon Black and EMEA Region. ...
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Orion Engineered Carbons a worldwide supplier of specialty and high-performance Carbon Black said it is building a new logistics center within its largest manufacturing plant in Cologne Germany. Upon completion the central warehouse will be 8 850 sqm equaling a capacity of approximately 12 400 pallets. The new building a turnkey project of Goldbeck construction company will have eight truck docks. It will equalize plant traffic with about one hundred trucks passing through the plant gate every day. In addition the new warehouse will eliminate internal logistics with consolidation into one location. Orion will lease the warehouse from Grieshaber. We produce 160 000 metric tons and more than 100 differentiated grades of carbon black at this facility each year which must be treated and handled very carefully remarked Dr Sandra Niewiem Senior Vice President Specialty Carbon Black and EMEA Region. ...
Facilio an AI-driven property operations and maintenance platform has announced the launch of REbuild a remote operations toolkit that helps real estate owners drive efficiency boost productivity and improve operating margin. REbuild is a ready-to-deploy set of six new solutions including hygiene management centralised remote management of building systems cloud-enabled HVAC controls visitor management touchless occupant controls and operational command centre. It is in line with Facilio s mission to provide robust tech solutions to address the dynamic challenges faced by commercial real estate owners operators and property managers said the company in a statement. The REbuild program from Facilio is aimed at revitalizing the CRE industry empowering it to survive and thrive in the aftermath of the C-19 pandemic it stated. /...
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Facilio an AI-driven property operations and maintenance platform has announced the launch of REbuild a remote operations toolkit that helps real estate owners drive efficiency boost productivity and improve operating margin. REbuild is a ready-to-deploy set of six new solutions including hygiene management centralised remote management of building systems cloud-enabled HVAC controls visitor management touchless occupant controls and operational command centre. It is in line with Facilio s mission to provide robust tech solutions to address the dynamic challenges faced by commercial real estate owners operators and property managers said the company in a statement. The REbuild program from Facilio is aimed at revitalizing the CRE industry empowering it to survive and thrive in the aftermath of the C-19 pandemic it stated. /...
The Indian construction industry is expected to contract by 1.7 per cent this year as the slowdown in 2019 has been compounded by the two-month lockdown due to Covid-19 according to GlobalData a leading data and analytics company. The slowdown in the construction industry in 2019 was due to liquidity crisis and slowing domestic demand in the residential segment. Although the situation was expected to improve in 2020 due to government initiatives such as improving liquidity position and expanded infrastructure investments under the National Infrastructure Program but the Covid-19 outbreak and the government containment measures will affect the construction industry in the short-term stated the report. Dhananjay Sharma the construction analyst at GlobalData said: The residential sector which was already facing weakness due to the ...
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The Indian construction industry is expected to contract by 1.7 per cent this year as the slowdown in 2019 has been compounded by the two-month lockdown due to Covid-19 according to GlobalData a leading data and analytics company. The slowdown in the construction industry in 2019 was due to liquidity crisis and slowing domestic demand in the residential segment. Although the situation was expected to improve in 2020 due to government initiatives such as improving liquidity position and expanded infrastructure investments under the National Infrastructure Program but the Covid-19 outbreak and the government containment measures will affect the construction industry in the short-term stated the report. Dhananjay Sharma the construction analyst at GlobalData said: The residential sector which was already facing weakness due to the ...
Dubai Municipality has annoucned that it has intensified monitoring and inspection of construction sites across the emirate to ensure all preventive and precautionary guidelines are being implemented and instructions in circulars followed. A total of 50 000 inspection visits were conducted in 12 331 under-construction buildings in the last two months apart from visits conducted in response to emergency reports in Dubai said the statement from Dubai Municipality. Mandatory precautionary measures in construction sites include: wearing protective masks and gloves providing sterilisation equipment in multiple locations at the site measuring the temperature of workers before entering the site maintaining physical distancing and avoiding gatherings ensuring workers keep a safe distance between each other while travelling in and disembarking from buses conducting continuous sterilisation of work sites and project extensions avoiding overcrowding in t...
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Dubai Municipality has annoucned that it has intensified monitoring and inspection of construction sites across the emirate to ensure all preventive and precautionary guidelines are being implemented and instructions in circulars followed. A total of 50 000 inspection visits were conducted in 12 331 under-construction buildings in the last two months apart from visits conducted in response to emergency reports in Dubai said the statement from Dubai Municipality. Mandatory precautionary measures in construction sites include: wearing protective masks and gloves providing sterilisation equipment in multiple locations at the site measuring the temperature of workers before entering the site maintaining physical distancing and avoiding gatherings ensuring workers keep a safe distance between each other while travelling in and disembarking from buses conducting continuous sterilisation of work sites and project extensions avoiding overcrowding in t...
The value of real estate transactions in Abu Dhabi increased by 34 per cent to reach Dh6.3 billion ( 1.7 billion) by April through 2 617 real estate deals compared to Dh4.6 billion ( 1.25 billion) through 1 840 deals during the same period last year according to statistics released by the Department of Municipalities and Transport (DMT). The department s data indicated that mortgages acquired 60 per cent of the total real estate transactions in April and increased by 100 percent in April 2020 at up to Dh3.8 billion which was made through 1 170 mortgage transactions compared to the same period in 2019 with mortgages worth Dh1.9 billion through 598 mortgage transactions. Statistics also showed that the value of buying and selling operations in April reached some Dh2.5 billion made through 1 447 transactions compared to Dh2.8 billion during the same period last year through 1 242 transactions it stated. According to the rep...
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The value of real estate transactions in Abu Dhabi increased by 34 per cent to reach Dh6.3 billion ( 1.7 billion) by April through 2 617 real estate deals compared to Dh4.6 billion ( 1.25 billion) through 1 840 deals during the same period last year according to statistics released by the Department of Municipalities and Transport (DMT). The department s data indicated that mortgages acquired 60 per cent of the total real estate transactions in April and increased by 100 percent in April 2020 at up to Dh3.8 billion which was made through 1 170 mortgage transactions compared to the same period in 2019 with mortgages worth Dh1.9 billion through 598 mortgage transactions. Statistics also showed that the value of buying and selling operations in April reached some Dh2.5 billion made through 1 447 transactions compared to Dh2.8 billion during the same period last year through 1 242 transactions it stated. According to the rep...
Ajman s ruler has issued a new law pertaining to regulation of the emirate s real estate development in bid to maintain a balance between the interests of both the developer and buyer and ensuring the emirate s competitiveness in the property sector. HH Sheikh Humaid bin Rashid Al Nuaimi Supreme Council Member and Ruler of Ajman has issued a new law pertaining to the regulation of real estate development in the Emirate of Ajman. It is aimed at regulating real estate development projects in the emirate to forge a safe investment environment in the field of real estate development. It is also focused at achieving a balance between the interests of both the developer and the buyer ensuring and enhancing the emirate s competitiveness in the real estate sector. As per the royal decree any other text or judgment contradicting the provi...
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Ajman s ruler has issued a new law pertaining to regulation of the emirate s real estate development in bid to maintain a balance between the interests of both the developer and buyer and ensuring the emirate s competitiveness in the property sector. HH Sheikh Humaid bin Rashid Al Nuaimi Supreme Council Member and Ruler of Ajman has issued a new law pertaining to the regulation of real estate development in the Emirate of Ajman. It is aimed at regulating real estate development projects in the emirate to forge a safe investment environment in the field of real estate development. It is also focused at achieving a balance between the interests of both the developer and the buyer ensuring and enhancing the emirate s competitiveness in the real estate sector. As per the royal decree any other text or judgment contradicting the provi...
The total value of property transactions in Oman during the first two months surged 24% to hit RO629.2 million ( 1.63 billion) from RO507.5 million ( 1.3 billion) for the same period last year reported Oman News Agency citing statistics issued by National Centre for Statistics and information (NCSI). However the number of plots issued till February was 36 523 down 5.7% compared to the same period last year. Of the total traded value till February RO165.6 million worth transactions were sales contracts while RO458 million transactions were mortgage deals. As many as 9 706 sales contracts were executed in February against 10 496 contracts during the same period last year. However the total number of mortgage contracts fell by 3.1% to reach 2 435 contracts against 2 514 contracts in 2019 stated the ONA report. The sultanate&rsq...
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The total value of property transactions in Oman during the first two months surged 24% to hit RO629.2 million ( 1.63 billion) from RO507.5 million ( 1.3 billion) for the same period last year reported Oman News Agency citing statistics issued by National Centre for Statistics and information (NCSI). However the number of plots issued till February was 36 523 down 5.7% compared to the same period last year. Of the total traded value till February RO165.6 million worth transactions were sales contracts while RO458 million transactions were mortgage deals. As many as 9 706 sales contracts were executed in February against 10 496 contracts during the same period last year. However the total number of mortgage contracts fell by 3.1% to reach 2 435 contracts against 2 514 contracts in 2019 stated the ONA report. The sultanate&rsq...
Harbor Real estate a leading company in the UAE offering holistic real estate services said it has achieved the gold ranking for a third time in a row for its contribution to the 10 million meals campaign during the few days of the launch. The company had donated 6 250 meals worth Dh50 000 to support The 10 million meals campaign that was launched by HH Shaikh Mohammad Bin Rashid Al Maktoum Vice President and Prime Minister of UAE and Ruler of Dubai and is led by his wife Shaikha Hind Bint Maktoum Bin Juma Al Maktoum Chairperson of the Board of Trustees of UAE Food Bank. It is the nation s biggest food distribution drive to support low- income families and individuals affected by the coronavirus (Covid-19) outbreak across the UAE. Harbor Real Estate is an ISO certified customer service and an award-winning agency which has receive...
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Harbor Real estate a leading company in the UAE offering holistic real estate services said it has achieved the gold ranking for a third time in a row for its contribution to the 10 million meals campaign during the few days of the launch. The company had donated 6 250 meals worth Dh50 000 to support The 10 million meals campaign that was launched by HH Shaikh Mohammad Bin Rashid Al Maktoum Vice President and Prime Minister of UAE and Ruler of Dubai and is led by his wife Shaikha Hind Bint Maktoum Bin Juma Al Maktoum Chairperson of the Board of Trustees of UAE Food Bank. It is the nation s biggest food distribution drive to support low- income families and individuals affected by the coronavirus (Covid-19) outbreak across the UAE. Harbor Real Estate is an ISO certified customer service and an award-winning agency which has receive...
Since Kuwait instituted lockdowns to reduce the spread of the Covid-19 virus last March around 39 per cent of businesses in the construction contracting architecture sector have shut down operations revealed a Business Impact Survey published by Bensirri PR (BPR) an independent corporate financial and political communications firm based in Kuwait. Nearly 31% had a revenue drop by more than 80% but were still operating when the survey was conducted. The report is the only Covid-19 related Business Impact Survey conducted in Kuwait and is available in full and free of charge on KuwaitImpact.com said a statement. The Kuwait Business Impact Survey (KBIS) gathered key insights from 498 Kuwaiti businesses that were profitable in 2019 across 13 different sectors and provides decision-makers with a direction to better understand policy decisions surrounding t...
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Since Kuwait instituted lockdowns to reduce the spread of the Covid-19 virus last March around 39 per cent of businesses in the construction contracting architecture sector have shut down operations revealed a Business Impact Survey published by Bensirri PR (BPR) an independent corporate financial and political communications firm based in Kuwait. Nearly 31% had a revenue drop by more than 80% but were still operating when the survey was conducted. The report is the only Covid-19 related Business Impact Survey conducted in Kuwait and is available in full and free of charge on KuwaitImpact.com said a statement. The Kuwait Business Impact Survey (KBIS) gathered key insights from 498 Kuwaiti businesses that were profitable in 2019 across 13 different sectors and provides decision-makers with a direction to better understand policy decisions surrounding t...
LogiPoint a leading logistics zones developer in Saudi Arabia has established the first bonded corridor at Jeddah Islamic Port connecting the Bonded and Re-Export Zone at Jeddah Islamic Port and King Abdulaziz International Airport to facilitate the multimodal movement of cargo. According to the company the trial was conducted on a shipment that arrived by sea freight to LogiPoint Bonded and Re-Export Zone at Jeddah Islamic Port which was then shipped onward to its final destination in the Netherlands by airfreight through King Abdulaziz International airport. With the support of the Saudi Customs and Jeddah Islamic Port and in line with Saudi Vision 2030 and the National Industrial Development and Logistics Program (NDLIP) the success of this shipment increases the competitiveness of the region. It creates an efficient and cost-effective sea-air and air-sea link to establish Jeddah as a preferre...
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LogiPoint a leading logistics zones developer in Saudi Arabia has established the first bonded corridor at Jeddah Islamic Port connecting the Bonded and Re-Export Zone at Jeddah Islamic Port and King Abdulaziz International Airport to facilitate the multimodal movement of cargo. According to the company the trial was conducted on a shipment that arrived by sea freight to LogiPoint Bonded and Re-Export Zone at Jeddah Islamic Port which was then shipped onward to its final destination in the Netherlands by airfreight through King Abdulaziz International airport. With the support of the Saudi Customs and Jeddah Islamic Port and in line with Saudi Vision 2030 and the National Industrial Development and Logistics Program (NDLIP) the success of this shipment increases the competitiveness of the region. It creates an efficient and cost-effective sea-air and air-sea link to establish Jeddah as a preferre...
Oman s Public Establishment for Industrial Estates (Madayn) has announced a new package of investment incentives for real estate investors and developers to help them build operate manage sell and lease industrial and commercial buildings and units within the development. This was possible due to the amended provisions of the investment regulations by Madayn in bid to enhance their competitiveness in the investment environment. The amendments comprise granting activity licenses for those holding Riyada certificate from the Public Authority for Small and Medium Enterprises Development as well as reducing the fees for licensing the activity for small businesses that have not obtained Riyada certificate. These also include granting a new development license development license/sub developer and development license/operator. ...
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Oman s Public Establishment for Industrial Estates (Madayn) has announced a new package of investment incentives for real estate investors and developers to help them build operate manage sell and lease industrial and commercial buildings and units within the development. This was possible due to the amended provisions of the investment regulations by Madayn in bid to enhance their competitiveness in the investment environment. The amendments comprise granting activity licenses for those holding Riyada certificate from the Public Authority for Small and Medium Enterprises Development as well as reducing the fees for licensing the activity for small businesses that have not obtained Riyada certificate. These also include granting a new development license development license/sub developer and development license/operator. ...
Ajman Department of Land and Real Estate Regulation said it has linked its digital services with Ajman Pay to create a seamless customer-centric user experience. The initiative which enables clients to pay for services across various payment channels and offer options suitable for all customer segments and needs comes as part of its efforts to innovate its customer journey experience in paying service fees. Chairman Sheikh Abdulaziz bin Humaid Al Nuaimi said Ajman Department of Land and Real Estate Regulation s cooperation with the Ajman Department of Finance is aimed at enhancing the quality of its services through innovative solutions that meet the demand of investors in the emirate. He said that introducing a superior customer experience was put in place on par with Ajman s modern and competitive economy Ajman is witne...
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Ajman Department of Land and Real Estate Regulation said it has linked its digital services with Ajman Pay to create a seamless customer-centric user experience. The initiative which enables clients to pay for services across various payment channels and offer options suitable for all customer segments and needs comes as part of its efforts to innovate its customer journey experience in paying service fees. Chairman Sheikh Abdulaziz bin Humaid Al Nuaimi said Ajman Department of Land and Real Estate Regulation s cooperation with the Ajman Department of Finance is aimed at enhancing the quality of its services through innovative solutions that meet the demand of investors in the emirate. He said that introducing a superior customer experience was put in place on par with Ajman s modern and competitive economy Ajman is witne...
Bahrain s Ministry of Works Municipality Affairs and Urban Planning has invited expressions of interest (EoIs) from leading construction firms and developers for the establishment of food sustainability facilities in various locations across the kingdom. The project is being implemented by the Special Projects Office of the ministry as part of the Food Sustainability Initiative which will see development of two hydrophonic greenhouses each coming up on a 11 000 sq m area. As per the ministry s notification the winning bidder will be developing both the proposed sites for the green house projects and also set up the additional necessary facilities in the area. These projects are being implemented on a build own operate and transfer (BOOT) model. The last date for submitting the EoIs is May 27. -TradeArabia News Service ...
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Bahrain s Ministry of Works Municipality Affairs and Urban Planning has invited expressions of interest (EoIs) from leading construction firms and developers for the establishment of food sustainability facilities in various locations across the kingdom. The project is being implemented by the Special Projects Office of the ministry as part of the Food Sustainability Initiative which will see development of two hydrophonic greenhouses each coming up on a 11 000 sq m area. As per the ministry s notification the winning bidder will be developing both the proposed sites for the green house projects and also set up the additional necessary facilities in the area. These projects are being implemented on a build own operate and transfer (BOOT) model. The last date for submitting the EoIs is May 27. -TradeArabia News Service ...
Orascom Construction a leading global engineering and construction contractor has secured a major contract from Ora Developers a leading designer and developer of luxury lifestyle destinations to build the first phase of ZED Sheikh Zayed in Egypt. A multi-purpose project ZED Sheikh Zayed will be built in six phases and on completion it will boast over 4 500 residential units and an administrative commercial complex. Ora Developers has already signed an agreement worth E 1 billion ( 63 million) with Banque Misr for the financing of the initial phase of the project. The Egyptian developer said the contract has been awarded to Orascom following the completion of the masterplan and architectural design work by WATG International. As per the deal Orascom Construction will be constructing around 600 housing units in Phase One. The ...
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Orascom Construction a leading global engineering and construction contractor has secured a major contract from Ora Developers a leading designer and developer of luxury lifestyle destinations to build the first phase of ZED Sheikh Zayed in Egypt. A multi-purpose project ZED Sheikh Zayed will be built in six phases and on completion it will boast over 4 500 residential units and an administrative commercial complex. Ora Developers has already signed an agreement worth E 1 billion ( 63 million) with Banque Misr for the financing of the initial phase of the project. The Egyptian developer said the contract has been awarded to Orascom following the completion of the masterplan and architectural design work by WATG International. As per the deal Orascom Construction will be constructing around 600 housing units in Phase One. The ...
Acciona a major supplier of sustainable infrastructure solutions and renewable energy projects said it has begun using drones during the tunnel construction phase to obtain a regular digital record of the works to analyse real time data. This technology which can be used on tunnel projects excavated by conventional methods (explosives hammers or cutters) as well as on underground mining projects can be supplemented with photographic resources to regularly monitor a project said the statement from Acciona. Tripod-based laser scanner systems are currently used supplemented with conventional topography to obtain digital models of the inside of tunnels under construction. However these methods are time-consuming and not very versatile which is not very compatible with the production performance of these works reducing their effectiveness it stated. ...
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Acciona a major supplier of sustainable infrastructure solutions and renewable energy projects said it has begun using drones during the tunnel construction phase to obtain a regular digital record of the works to analyse real time data. This technology which can be used on tunnel projects excavated by conventional methods (explosives hammers or cutters) as well as on underground mining projects can be supplemented with photographic resources to regularly monitor a project said the statement from Acciona. Tripod-based laser scanner systems are currently used supplemented with conventional topography to obtain digital models of the inside of tunnels under construction. However these methods are time-consuming and not very versatile which is not very compatible with the production performance of these works reducing their effectiveness it stated. ...
Despite the challenging times affecting the real estate market in Egyptian capital Cairo most sectors remained stable during the first quarter with the office sector in particular recorded strong performance said JLL a specialist in real estate and investment management. Cairo s office sector has seen a 9% increase in average prime rents on an annual basis despite the unfavourable market conditions due to the limited supply of high-quality offices stated JLL in its Q1 Cairo Real Estate Market Performance report. The average vacancy rates have also remained stable at 12% over the last quarter which also reflects an overall strong office performance in Q1. Various measures that have been taken including the work from home initiative will see demand for office space likely remain subdued in the short-to-mid term with requirements focused on smal...
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Despite the challenging times affecting the real estate market in Egyptian capital Cairo most sectors remained stable during the first quarter with the office sector in particular recorded strong performance said JLL a specialist in real estate and investment management. Cairo s office sector has seen a 9% increase in average prime rents on an annual basis despite the unfavourable market conditions due to the limited supply of high-quality offices stated JLL in its Q1 Cairo Real Estate Market Performance report. The average vacancy rates have also remained stable at 12% over the last quarter which also reflects an overall strong office performance in Q1. Various measures that have been taken including the work from home initiative will see demand for office space likely remain subdued in the short-to-mid term with requirements focused on smal...
Bahrain had awarded a total of 1 730 tenders and auctions worth BD1.847 billion ( 4.85 billion) in 2019 up 70.5 per cent over the previous year. Of this the construction and infrastructure sector garnered the lion s share of the awarded projects reported the Gulf daily News our sister publication. For further details visit https://beta.gdnonline.com ...
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Bahrain had awarded a total of 1 730 tenders and auctions worth BD1.847 billion ( 4.85 billion) in 2019 up 70.5 per cent over the previous year. Of this the construction and infrastructure sector garnered the lion s share of the awarded projects reported the Gulf daily News our sister publication. For further details visit https://beta.gdnonline.com ...
Oman Logistics Center has passed a significant milestone in facilitating the digital transformation of Oman s shipping sector with the introduction of E-delivery and E-Cargo release Orders a report from Oman News Agency said. Within two weeks of the submission and processing of delivery orders bills of lading and service payments would be moving completely online. All transactions at the Port of Salalah have become paperless and over 60 per cent of those at Sohar Port have swiftly followed with that figure likely to continue to rise in coming weeks it said. Private sector logistics providers benefit greatly from savings of time and cost. As more providers move quickly to digitalise their own processes paper transactions across Oman will quickly become a thing of the past it added. The Directorate General of Customs has s...
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Oman Logistics Center has passed a significant milestone in facilitating the digital transformation of Oman s shipping sector with the introduction of E-delivery and E-Cargo release Orders a report from Oman News Agency said. Within two weeks of the submission and processing of delivery orders bills of lading and service payments would be moving completely online. All transactions at the Port of Salalah have become paperless and over 60 per cent of those at Sohar Port have swiftly followed with that figure likely to continue to rise in coming weeks it said. Private sector logistics providers benefit greatly from savings of time and cost. As more providers move quickly to digitalise their own processes paper transactions across Oman will quickly become a thing of the past it added. The Directorate General of Customs has s...
Emirati entrepreneur Khamis Al Sheryani has announced the opening of Rafeeg Store a first-of-its-kind electronic store in the Mena region that specialises in construction maintenance and decoration projects at Abu Dhabi. Al Sheryani is the founder of Rafeeg App the first application in the UAE for maintenance services and decoration which he launched in early 2017. The new Rafeeg Store allows customers to browse the designs of the best international engineers and decorations in addition to the easy comparison of prices from local contractors who want to design their homes in UAE. The Emirati entrepreneur said the opening comes in line with the UAE government s vision to adopt the best environmental practices in various fields especially in the field of contracting maintenance and design which is one of the most active and distinguished economic sectors locally an...
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Emirati entrepreneur Khamis Al Sheryani has announced the opening of Rafeeg Store a first-of-its-kind electronic store in the Mena region that specialises in construction maintenance and decoration projects at Abu Dhabi. Al Sheryani is the founder of Rafeeg App the first application in the UAE for maintenance services and decoration which he launched in early 2017. The new Rafeeg Store allows customers to browse the designs of the best international engineers and decorations in addition to the easy comparison of prices from local contractors who want to design their homes in UAE. The Emirati entrepreneur said the opening comes in line with the UAE government s vision to adopt the best environmental practices in various fields especially in the field of contracting maintenance and design which is one of the most active and distinguished economic sectors locally an...
Falconcity of Wonders the developer of a multipurpose mega project in Dubai is organising a webinar tomorrow (May 5) on evolving market trends and how investors could benefit from the current market situation by making the right decisions today. The webinar will feature industry experts such as Dr Mahmoud Al Burai VP at International Real Estate Federation; Alharith Almoosa Vice Chairman Falconcity of Wonders; Shaker Zainal Business Finance Director at Emirates Development Bank and Jassim Al Bastaki Researcher in economic affairs who will share their expert opinions and analysis of market trends with the participants. Almoosa said: Even amidst the global crisis Dubai s real estate offers a more optimistic outlook. The emirate is known for its resilience and it will only be a matter of time before its vital sectors bounce back to a flurry of activity. d...
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Falconcity of Wonders the developer of a multipurpose mega project in Dubai is organising a webinar tomorrow (May 5) on evolving market trends and how investors could benefit from the current market situation by making the right decisions today. The webinar will feature industry experts such as Dr Mahmoud Al Burai VP at International Real Estate Federation; Alharith Almoosa Vice Chairman Falconcity of Wonders; Shaker Zainal Business Finance Director at Emirates Development Bank and Jassim Al Bastaki Researcher in economic affairs who will share their expert opinions and analysis of market trends with the participants. Almoosa said: Even amidst the global crisis Dubai s real estate offers a more optimistic outlook. The emirate is known for its resilience and it will only be a matter of time before its vital sectors bounce back to a flurry of activity. d...
Construction Technology Forum the region s only dedicated ConTech event that focuses on the wide-scale adoption of new technologies in large-scale building projects will be hosting ctf live a new online series of bitesize panel discussions interviews and debates on how technology is changing the way E&C (engineering and construction) companies work and deliver projects. Technology superstars from around the globe will come together to share technology use cases and new approaches that have designed built and operated projects better said the organisers. The first ctf live episode Digital Construction & Remote Working The New Norm will take place on May 13 at 2pm (UAE time) which will see how global construction giants are using technology to manage recent impact to their operations. The key talking points in the discussion will be: d...
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Construction Technology Forum the region s only dedicated ConTech event that focuses on the wide-scale adoption of new technologies in large-scale building projects will be hosting ctf live a new online series of bitesize panel discussions interviews and debates on how technology is changing the way E&C (engineering and construction) companies work and deliver projects. Technology superstars from around the globe will come together to share technology use cases and new approaches that have designed built and operated projects better said the organisers. The first ctf live episode Digital Construction & Remote Working The New Norm will take place on May 13 at 2pm (UAE time) which will see how global construction giants are using technology to manage recent impact to their operations. The key talking points in the discussion will be: d...
The UAE real estate sector is starting to return to a new normal as new trends emerge during and post Covid-19 lockdown with rental leads for villas in Dubai registering a 11% growth compared to last year according to Property Finder Group a leading property portal. The softening of restrictions put in place for the Covid-19 by the UAE government has positively impacted market sentiment across the real estate sector it stated. Both Property Finder and Mortgage Finder saw an immediate increase in leads and sessions as movement restrictions were revised. The Northern Emirates continue to over perform last year across all categories (sales rental apartment villa) There were a little over 20 000 new units completed so far in 2020 the majority of which are apartments (65%) it added. We are starting to see signs of the market ret...
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The UAE real estate sector is starting to return to a new normal as new trends emerge during and post Covid-19 lockdown with rental leads for villas in Dubai registering a 11% growth compared to last year according to Property Finder Group a leading property portal. The softening of restrictions put in place for the Covid-19 by the UAE government has positively impacted market sentiment across the real estate sector it stated. Both Property Finder and Mortgage Finder saw an immediate increase in leads and sessions as movement restrictions were revised. The Northern Emirates continue to over perform last year across all categories (sales rental apartment villa) There were a little over 20 000 new units completed so far in 2020 the majority of which are apartments (65%) it added. We are starting to see signs of the market ret...
Haji Hassan Group a pioneer in the construction sector in Bahrain has signed up as a strategic sponsor for this year s Gulf Construction Expo. The Northern Gulf s leading showcase for the building and construction sector Gulf Construction Expo will be held under the patronage of HRH Prince Khalifa Bin Salman Al Khalifa Prime Minister of Bahrain from October 5 to 7 at the Bahrain International Exhibition Centre said the event organisers Hilal Conferences and Exhibitions (HCE). A major player in the region Haji Hassan Group has established its reputation by delivering high-profile projects such as the Sitra Causeway Bahrain International Circuit Bahrain International Airport Riffa Footbridge Four Seasons Hotel Oncology Center at King Hamad University Hospital Housing Projects in Askar Diyar Al Muharraq Al Madina Al Shamaliya. Executive Director Hani Has...
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Haji Hassan Group a pioneer in the construction sector in Bahrain has signed up as a strategic sponsor for this year s Gulf Construction Expo. The Northern Gulf s leading showcase for the building and construction sector Gulf Construction Expo will be held under the patronage of HRH Prince Khalifa Bin Salman Al Khalifa Prime Minister of Bahrain from October 5 to 7 at the Bahrain International Exhibition Centre said the event organisers Hilal Conferences and Exhibitions (HCE). A major player in the region Haji Hassan Group has established its reputation by delivering high-profile projects such as the Sitra Causeway Bahrain International Circuit Bahrain International Airport Riffa Footbridge Four Seasons Hotel Oncology Center at King Hamad University Hospital Housing Projects in Askar Diyar Al Muharraq Al Madina Al Shamaliya. Executive Director Hani Has...
Renowned global real estate event Cityscape 2020 has been postponed to November owing to the Covid-19 pandemic. The event s organisers said they will be working with the real estate community over the coming months to support them through these challenging times. To be held from November 15 to 17 at Dubai World Trade Centre Cityscape will broaden its horizons beyond residential and spotlight the rapidly growing sectors of industrial and logistics commercial: retail and office proptech and architecture. It is committed to supporting the GCC in re-establishing a back to business approach delivering a focused event that creates a hub for the real estate sector to network discuss some of the most poignant topics delve into market recovery and discover new real estate opportunities. In an increasingly mature residentia...
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Renowned global real estate event Cityscape 2020 has been postponed to November owing to the Covid-19 pandemic. The event s organisers said they will be working with the real estate community over the coming months to support them through these challenging times. To be held from November 15 to 17 at Dubai World Trade Centre Cityscape will broaden its horizons beyond residential and spotlight the rapidly growing sectors of industrial and logistics commercial: retail and office proptech and architecture. It is committed to supporting the GCC in re-establishing a back to business approach delivering a focused event that creates a hub for the real estate sector to network discuss some of the most poignant topics delve into market recovery and discover new real estate opportunities. In an increasingly mature residentia...
Dubai Land Department (DLD) in cooperation with Smart Dubai and the Department of Finance (DOF) launched remote payment services to facilitate the process of real estate registration through the Dubai Pay portal. This step is part of the precautionary measures taken by DLD to reduce the spread of Covid-19 and maintain the health and safety of its customers. The initiative also aims to expand the process of payment methods through Dubai REST and DLD s website allowing for the easy collection of service fees. It is also expected to help facilitate payment services for DLD s customers which will lead to the revitalisation of Dubai s real estate market and the establishment of reliable practical solutions for all procedures and transactions said a top official. We continue to develop our services and facilitate t...
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Dubai Land Department (DLD) in cooperation with Smart Dubai and the Department of Finance (DOF) launched remote payment services to facilitate the process of real estate registration through the Dubai Pay portal. This step is part of the precautionary measures taken by DLD to reduce the spread of Covid-19 and maintain the health and safety of its customers. The initiative also aims to expand the process of payment methods through Dubai REST and DLD s website allowing for the easy collection of service fees. It is also expected to help facilitate payment services for DLD s customers which will lead to the revitalisation of Dubai s real estate market and the establishment of reliable practical solutions for all procedures and transactions said a top official. We continue to develop our services and facilitate t...
Dubai Investments a leading diversified investment company listed on the Dubai Financial Market is continuing the production of raw materials across its industrial manufacturing subsidiaries in steel aluminium glass and other building materials amid the Covid-19 crisis. The functionality of the production lines is in line with maintaining and adhering to the regulations implemented by the government and in full commitment to protecting and safeguarding employees the company said. Supporting local production and procurement is part of the initiatives implemented by the government towards stimulating competitiveness and achieving sustainable development during these times. Over the years the government has supported the manufacturing sector with various stimulus packages and it is now the time for the sector to unleash its potential for enhancing local productivity and growth promoting the &lsquo...
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Dubai Investments a leading diversified investment company listed on the Dubai Financial Market is continuing the production of raw materials across its industrial manufacturing subsidiaries in steel aluminium glass and other building materials amid the Covid-19 crisis. The functionality of the production lines is in line with maintaining and adhering to the regulations implemented by the government and in full commitment to protecting and safeguarding employees the company said. Supporting local production and procurement is part of the initiatives implemented by the government towards stimulating competitiveness and achieving sustainable development during these times. Over the years the government has supported the manufacturing sector with various stimulus packages and it is now the time for the sector to unleash its potential for enhancing local productivity and growth promoting the &lsquo...
Abu Dhabi Department of Municipalities and Transport (DMT) has announced that it has completed work on five of the 20 mosques that are being built across the emirate in co-ordination with Modon Properties a master developer of real estate projects. Of this 10 will come up in the capital and five each in Al Ain City and the Al Dhafrah Region which will all be delivered by the end of this year. The DMT said the first set of five mosques have already been delivered to the General Authority of Islamic Affair and Endowment which were all constructed in less than 4 months despite current challenges and Covid-19 precautionary measures put in place. The department said the remaining 15 mosques will be completed and delivered before the end of this year. These include five additional mosques in Abu Dhabi five in Al Ain and five in Al Dhafra. ...
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Abu Dhabi Department of Municipalities and Transport (DMT) has announced that it has completed work on five of the 20 mosques that are being built across the emirate in co-ordination with Modon Properties a master developer of real estate projects. Of this 10 will come up in the capital and five each in Al Ain City and the Al Dhafrah Region which will all be delivered by the end of this year. The DMT said the first set of five mosques have already been delivered to the General Authority of Islamic Affair and Endowment which were all constructed in less than 4 months despite current challenges and Covid-19 precautionary measures put in place. The department said the remaining 15 mosques will be completed and delivered before the end of this year. These include five additional mosques in Abu Dhabi five in Al Ain and five in Al Dhafra. ...
Saudi Arabia s Real Estate Development Fund has deposited SR1.048 billion ( 278 million) into the accounts of its Sakani Programme (My Housing) beneficiaries for April in co-ordination with the Ministry of Housing and the Real Estate Development Fund after setting the support date earlier for the second month in a row. General Supervisor of Real Estate Development Fund Mansour bin Madi said that SR425 million was allocated in support of the profits of the subsidised real estate contracts while SR530 million were provided to the beneficiaries of the Military Support Initiative who are in service in all military sectors and Rs93 million for the Civilian Support Initiative beneficiaries. The total amounts deposited by the fund in the accounts of Sakani beneficiaries since the announcement of the subsidized real estate loan in 2017 till date amounted to about SR19.111 billion stated Bin Madi. &nb...
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Saudi Arabia s Real Estate Development Fund has deposited SR1.048 billion ( 278 million) into the accounts of its Sakani Programme (My Housing) beneficiaries for April in co-ordination with the Ministry of Housing and the Real Estate Development Fund after setting the support date earlier for the second month in a row. General Supervisor of Real Estate Development Fund Mansour bin Madi said that SR425 million was allocated in support of the profits of the subsidised real estate contracts while SR530 million were provided to the beneficiaries of the Military Support Initiative who are in service in all military sectors and Rs93 million for the Civilian Support Initiative beneficiaries. The total amounts deposited by the fund in the accounts of Sakani beneficiaries since the announcement of the subsidized real estate loan in 2017 till date amounted to about SR19.111 billion stated Bin Madi. &nb...
The global construction output is expected to contract by 1.4 per cent this year as a result of the severe economic shock caused by the lockdown measures imposed by governments around the world to contain the spread of Covid-19 according to GlobalData a leading data and analytics company. Danny Richards Lead Economist at GlobalData said: Although the construction industry has in some cases been exempt from restrictions on business activity few major markets will manage to record an increase in construction output in 2020. Before the Covid-19 outbreak the global construction industry had been expected to grow by 3.1%. This was initially revised down to just 0.5% in late March based on a review of the impact of the virus at that point in time he explained. However in view of the rapidly evolving nature of the pandemic and the more drastic measures being tak...
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The global construction output is expected to contract by 1.4 per cent this year as a result of the severe economic shock caused by the lockdown measures imposed by governments around the world to contain the spread of Covid-19 according to GlobalData a leading data and analytics company. Danny Richards Lead Economist at GlobalData said: Although the construction industry has in some cases been exempt from restrictions on business activity few major markets will manage to record an increase in construction output in 2020. Before the Covid-19 outbreak the global construction industry had been expected to grow by 3.1%. This was initially revised down to just 0.5% in late March based on a review of the impact of the virus at that point in time he explained. However in view of the rapidly evolving nature of the pandemic and the more drastic measures being tak...
Bahrain s MVC Global providers of one of the leading supply chain track-and-trace platforms for pharmaceuticals and medical devices today (April 23) announced a strategic partnership with Cox Logistics Group a Bahrain-based logistics provider to launch a first-of-its-kind SmartHub logistics warehouse for pharmaceuticals and food to be headquartered in Bahrain and serve the GCC market. At a time when global supply chains are decimated by the ongoing Covid-19 pandemic this next generation logistics warehouse will utilise emerging technologies to ensure the speedy and efficient distribution of much-needed foods and medicines across the entire GCC drastically reducing the time required for paperwork administration and bureaucracy a statement released by Bahrain Economic Development Board said. It will be the first smart hub in the Middle East to integrate a tra...
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Bahrain s MVC Global providers of one of the leading supply chain track-and-trace platforms for pharmaceuticals and medical devices today (April 23) announced a strategic partnership with Cox Logistics Group a Bahrain-based logistics provider to launch a first-of-its-kind SmartHub logistics warehouse for pharmaceuticals and food to be headquartered in Bahrain and serve the GCC market. At a time when global supply chains are decimated by the ongoing Covid-19 pandemic this next generation logistics warehouse will utilise emerging technologies to ensure the speedy and efficient distribution of much-needed foods and medicines across the entire GCC drastically reducing the time required for paperwork administration and bureaucracy a statement released by Bahrain Economic Development Board said. It will be the first smart hub in the Middle East to integrate a tra...
Wabco Holdings the leading global supplier of braking control systems and other advanced technologies that improve the safety efficiency and connectivity of commercial vehicles has announced a landmark deal with Saudi-based Almajdouie Logistics Company. One of the kingdom s largest conglomerates Almajdouie Logistics Company operates in Saudi Arabia the Middle East and Far East providing integrated logistics and supply chain solutions to major industries ranging from FMCG to petrochemicals. Its offerings include transportation heavy lift project logistics freight forwarding terminal handling warehousing and distribution and automotive logistics. As per the deal Wabco is equipping 1 200 trucks and 1 400 trailers of Almajdouie Logistics Company with its advanced telematics solutions and support services replacing the company s current basic track-an...
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Wabco Holdings the leading global supplier of braking control systems and other advanced technologies that improve the safety efficiency and connectivity of commercial vehicles has announced a landmark deal with Saudi-based Almajdouie Logistics Company. One of the kingdom s largest conglomerates Almajdouie Logistics Company operates in Saudi Arabia the Middle East and Far East providing integrated logistics and supply chain solutions to major industries ranging from FMCG to petrochemicals. Its offerings include transportation heavy lift project logistics freight forwarding terminal handling warehousing and distribution and automotive logistics. As per the deal Wabco is equipping 1 200 trucks and 1 400 trailers of Almajdouie Logistics Company with its advanced telematics solutions and support services replacing the company s current basic track-an...
The UAE s status as a vital global logistics hub is helping the global community effectively navigate the coronavirus pandemic according to a new analysis by Dubai Chamber of Commerce and Industry (Dubai Chamber). Titled UAE Logistics Sector Connectivity and Resilience the analysis highlights the country s busy air cargo routes high maritime freight connectivity well-established warehousing network and strong logistical system as key elements that are enabling communities to weather the restrictions being created by the current situation. Focusing on air cargo the analysis found that Middle Eastern cargo carriers led by Emirates Airline are showing resilience to early disruptions caused by the Covid-19 crisis with Middle East-North America Africa-Middle East Europe-Middle East and Middle East-Asia routes all experiencing annual year on year (y-o-y) growth be...
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The UAE s status as a vital global logistics hub is helping the global community effectively navigate the coronavirus pandemic according to a new analysis by Dubai Chamber of Commerce and Industry (Dubai Chamber). Titled UAE Logistics Sector Connectivity and Resilience the analysis highlights the country s busy air cargo routes high maritime freight connectivity well-established warehousing network and strong logistical system as key elements that are enabling communities to weather the restrictions being created by the current situation. Focusing on air cargo the analysis found that Middle Eastern cargo carriers led by Emirates Airline are showing resilience to early disruptions caused by the Covid-19 crisis with Middle East-North America Africa-Middle East Europe-Middle East and Middle East-Asia routes all experiencing annual year on year (y-o-y) growth be...
The recent announcements by the UAE Central Bank introducing packages worth Dh256 billion ( 70 billion) aimed at stimulating the economy and mitigating the economic impact of the Covid-19 outbreak will benefit the real estate sector significantly said Abdulla bin Sulayem CEO of Seven Tides a property development company based in the UAE. The central bank has also reduced the reserve requirements for demand deposits for UAE banks by half from 14% to just 7% which will pump an additional Dh61 billion into the financial system improving liquidity and underpinning the banks ability to extend their lending further still. As previously announced banks will also have access to a Dh50 billion fund offering capital at zero interest to help them extend more finance to the market. This will also enable banks to offer relief to existing borrowers by deferring principal a...
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The recent announcements by the UAE Central Bank introducing packages worth Dh256 billion ( 70 billion) aimed at stimulating the economy and mitigating the economic impact of the Covid-19 outbreak will benefit the real estate sector significantly said Abdulla bin Sulayem CEO of Seven Tides a property development company based in the UAE. The central bank has also reduced the reserve requirements for demand deposits for UAE banks by half from 14% to just 7% which will pump an additional Dh61 billion into the financial system improving liquidity and underpinning the banks ability to extend their lending further still. As previously announced banks will also have access to a Dh50 billion fund offering capital at zero interest to help them extend more finance to the market. This will also enable banks to offer relief to existing borrowers by deferring principal a...
Turkey s Limak Construction has announced that it has achieved a significant landmark in the construction of Kuwait International Airport New Terminal 2 (T2) project. The company s on-site factory celebrated this week the production of 30 000 shell cassettes required for the inner roof of the T2 project. With over 80% of the terminal s inner roof now fabricated and 39% of which are installed as of today it is a major milestone in the construction of Kuwait s new gateway said the statement from Limak. The company confirmed that work on the T2 project is ongoing and continuing in full compliance with regulations set by the Ministry of Health and other official government bodies in Kuwait in response to the Covid-19 pandemic. Under the full support of the government of Kuwait Ministry of Health and the employer s ...
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Turkey s Limak Construction has announced that it has achieved a significant landmark in the construction of Kuwait International Airport New Terminal 2 (T2) project. The company s on-site factory celebrated this week the production of 30 000 shell cassettes required for the inner roof of the T2 project. With over 80% of the terminal s inner roof now fabricated and 39% of which are installed as of today it is a major milestone in the construction of Kuwait s new gateway said the statement from Limak. The company confirmed that work on the T2 project is ongoing and continuing in full compliance with regulations set by the Ministry of Health and other official government bodies in Kuwait in response to the Covid-19 pandemic. Under the full support of the government of Kuwait Ministry of Health and the employer s ...
Saudi Shoura Council has agreed to introduce additional tougher penalties for those who violate the law stipulating ownership of properties and investment in real estate reported Arab News. The decision was taken at the online session of the council convened by Saudi Shoura Council Speaker Dr Abdullah Al Asheikh yesterday (April 20). The law does not allow non-Saudis to own property and invest in the real estate sector. The council also approved amendments to a draft law on combating financial fraud and breach of trust it added. ...
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Saudi Shoura Council has agreed to introduce additional tougher penalties for those who violate the law stipulating ownership of properties and investment in real estate reported Arab News. The decision was taken at the online session of the council convened by Saudi Shoura Council Speaker Dr Abdullah Al Asheikh yesterday (April 20). The law does not allow non-Saudis to own property and invest in the real estate sector. The council also approved amendments to a draft law on combating financial fraud and breach of trust it added. ...
Maqta Gateway the digital arm of Abu Dhabi Ports has expanded its digital logistics solution Margo with the addition of a new commercial offering for warehouse storage. The new offering presents customers with the unique opportunity to book standard warehouses or specialised temperature controlled-storage facilities to safely store their perishable goods including food Items and medical supplies for short and medium periods of time through simplified paper-free booking processing and remotely-managed reservations. This new service leverages the simplicity convenience and cost effectiveness of the existing Margo platform a statement said. Among the current warehouse offering customers can book Grade A warehouse facilities one of the highest industry standards achievable within warehouse management and storage which also are conveniently located in the heart of the Khalifa Industrial Zone Abu Dhabi (KI...
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Maqta Gateway the digital arm of Abu Dhabi Ports has expanded its digital logistics solution Margo with the addition of a new commercial offering for warehouse storage. The new offering presents customers with the unique opportunity to book standard warehouses or specialised temperature controlled-storage facilities to safely store their perishable goods including food Items and medical supplies for short and medium periods of time through simplified paper-free booking processing and remotely-managed reservations. This new service leverages the simplicity convenience and cost effectiveness of the existing Margo platform a statement said. Among the current warehouse offering customers can book Grade A warehouse facilities one of the highest industry standards achievable within warehouse management and storage which also are conveniently located in the heart of the Khalifa Industrial Zone Abu Dhabi (KI...
Cityscape the region s pre-eminent real estate brand has launched a new online portal developed to be a central hub of information for real estate. This move meets the need for a curated real estate news aggregation and market insight and with a legacy of connecting international property with investment over the past two decades Cityscape is perfectly positioned to bring this to market said the event organisers. The Cityscape Intelligence platform covers all news impacting the real estate sector and provides exclusive global insights and commentary from a pool of international and local experts. The portal will offer a broad range of information from market drivers in the residential commercial and hotel segments to the latest architectural trends and technology shaping the industry and up-to-date information and news on projects and government initiative...
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Cityscape the region s pre-eminent real estate brand has launched a new online portal developed to be a central hub of information for real estate. This move meets the need for a curated real estate news aggregation and market insight and with a legacy of connecting international property with investment over the past two decades Cityscape is perfectly positioned to bring this to market said the event organisers. The Cityscape Intelligence platform covers all news impacting the real estate sector and provides exclusive global insights and commentary from a pool of international and local experts. The portal will offer a broad range of information from market drivers in the residential commercial and hotel segments to the latest architectural trends and technology shaping the industry and up-to-date information and news on projects and government initiative...
The entire world is trying to come to terms with the unprecedented challenges of the Covid-19 outbreak and the UAE is no different. While social distancing has created challenges for business continuity in the last two weeks Dubai s real estate sector has been largely unaffected in the first quarter of 2020 since the government began introducing restrictive measures to safeguard public safety from the second week of March according to UAE property website Bayut. As per the latest data released by Bayut the Dubai real estate market has been showing promising signs of stability with property prices across popular areas in the emirate holding steady or even slightly increasing in Q1 2020 compared to the prices in Q4 2019. While the ongoing pandemic is likely to impact the market in the coming months the overall trend in the first three months of 2020 is in line with the patterns observed throughout l...
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The entire world is trying to come to terms with the unprecedented challenges of the Covid-19 outbreak and the UAE is no different. While social distancing has created challenges for business continuity in the last two weeks Dubai s real estate sector has been largely unaffected in the first quarter of 2020 since the government began introducing restrictive measures to safeguard public safety from the second week of March according to UAE property website Bayut. As per the latest data released by Bayut the Dubai real estate market has been showing promising signs of stability with property prices across popular areas in the emirate holding steady or even slightly increasing in Q1 2020 compared to the prices in Q4 2019. While the ongoing pandemic is likely to impact the market in the coming months the overall trend in the first three months of 2020 is in line with the patterns observed throughout l...
Sharjah has recorded up to 18 537 real estate transactions totalling Dh3.6 billion ( 979 million) in the first quarter of 2020 according to Sharjah Real Estate Registration Department (SRERD). Up to 729 sales transactions were registered across the emirate during the first quarter. Most of these were recorded in Sharjah city with 632 transactions valued at Dh967 million. These covered 75 regions led by Al Khan Al Nahda and Al Tai where most apartments were registered. The Central Region recorded 20 sales transactions valued at Dh11.6 million across 19 areas as compared to 32 transactions valued at Dh26 180 557 across 13 areas in Khor Fakkan and 40 transactions totalling Dh15 830 000 across 18 areas in Kalba city and five sales transactions reaching Dh3 623 500 across four areas in Dibba Al Hisn. Abdul Aziz Ahmed Al Shamsi the director-general of SRERD said the transactions were recorded in 129 areas in the emirate cove...
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Sharjah has recorded up to 18 537 real estate transactions totalling Dh3.6 billion ( 979 million) in the first quarter of 2020 according to Sharjah Real Estate Registration Department (SRERD). Up to 729 sales transactions were registered across the emirate during the first quarter. Most of these were recorded in Sharjah city with 632 transactions valued at Dh967 million. These covered 75 regions led by Al Khan Al Nahda and Al Tai where most apartments were registered. The Central Region recorded 20 sales transactions valued at Dh11.6 million across 19 areas as compared to 32 transactions valued at Dh26 180 557 across 13 areas in Khor Fakkan and 40 transactions totalling Dh15 830 000 across 18 areas in Kalba city and five sales transactions reaching Dh3 623 500 across four areas in Dibba Al Hisn. Abdul Aziz Ahmed Al Shamsi the director-general of SRERD said the transactions were recorded in 129 areas in the emirate cove...
Real estate will remain a vital economic indicator in the post-Covid-19 era in the UAE. But the sector will never be the same when the crisis gets over thanks to 10 key factors that will help in the speedy recovery of the country s property sector said Walid Al Zarouni the head of W Capital Real Estate Brokerage Company. The Corona virus should not be a transient event for everyone but rather a transformation stand-off to create a new world he stated. The real estate sector before Covid-19 will never be the same when the crisis is over the same is true for all other economic sector noted Al-Zarouni. He called on the top players in the real estate sector to prepare from now on for the new era after the pandemic and try to map out the future of the sector after containing the outbreak of this epidemic. Real estate is one...
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Real estate will remain a vital economic indicator in the post-Covid-19 era in the UAE. But the sector will never be the same when the crisis gets over thanks to 10 key factors that will help in the speedy recovery of the country s property sector said Walid Al Zarouni the head of W Capital Real Estate Brokerage Company. The Corona virus should not be a transient event for everyone but rather a transformation stand-off to create a new world he stated. The real estate sector before Covid-19 will never be the same when the crisis is over the same is true for all other economic sector noted Al-Zarouni. He called on the top players in the real estate sector to prepare from now on for the new era after the pandemic and try to map out the future of the sector after containing the outbreak of this epidemic. Real estate is one...
Marcel Beermann (47) will take over as head of the Procurement and Logistics group function at specialty chemicals company Lanxess on June 1 2020. He succeeds Frederique van Baarle (48) who will become head of the High Performance Materials business unit on the same date. Beermann is currently head of marketing and sales for high-performance plastics in the Europe Middle East and Africa (EMEA) region at Lanxess. Hubert Fink member of the Lanxess Board of Management said: Over the past one and a half years Marcel Beermann has been able to further deepen his profound understanding of the markets and players in the chemical industry in a leading position in our operational business. He has done an excellent job here as he did during his ten years as head of the Mergers & Acquisitions group function. I am very pleased that he can now contribute his extensi...
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Marcel Beermann (47) will take over as head of the Procurement and Logistics group function at specialty chemicals company Lanxess on June 1 2020. He succeeds Frederique van Baarle (48) who will become head of the High Performance Materials business unit on the same date. Beermann is currently head of marketing and sales for high-performance plastics in the Europe Middle East and Africa (EMEA) region at Lanxess. Hubert Fink member of the Lanxess Board of Management said: Over the past one and a half years Marcel Beermann has been able to further deepen his profound understanding of the markets and players in the chemical industry in a leading position in our operational business. He has done an excellent job here as he did during his ten years as head of the Mergers & Acquisitions group function. I am very pleased that he can now contribute his extensi...
Arabtec Holding a leading contractor for social and economic infrastructure said its wholly-owned subsidiary Target Engineering has secured two key contracts worth Dh210 million ( 57 million) in UAE. The first one a Dh84 million contract was awarded by Adnoc Offshore to carry out the engineering procurement construction and commissioning (EPCC) works for the replacement of existing Slug Catchers static equipment used in the upstream oil production facilities to minimise the slug from oil and gas pipelines at the Satah Plant on Zirku Island Abu Dhabi. This award is line with the Adnoc group s strategic priority to diversify its backlog into different sectors including the industrial sector. Target Engineering said it is set to start work on the project immediately and will complete it by the first quarter of 2022. ...
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Arabtec Holding a leading contractor for social and economic infrastructure said its wholly-owned subsidiary Target Engineering has secured two key contracts worth Dh210 million ( 57 million) in UAE. The first one a Dh84 million contract was awarded by Adnoc Offshore to carry out the engineering procurement construction and commissioning (EPCC) works for the replacement of existing Slug Catchers static equipment used in the upstream oil production facilities to minimise the slug from oil and gas pipelines at the Satah Plant on Zirku Island Abu Dhabi. This award is line with the Adnoc group s strategic priority to diversify its backlog into different sectors including the industrial sector. Target Engineering said it is set to start work on the project immediately and will complete it by the first quarter of 2022. ...
The GCC conventional and Islamic banks will see significantly reduced revenue and credit growth in 2020 mainly due to the sharp decline in oil prices accelerated real-estate price corrections in some markets and drop in vital nonoil economic sectors said a report. The sharp drop in oil prices and measures implemented by regional governments to contain transmission of the coronavirus (Covid-19) will take a toll on important sectors such as real estate hospitality and consumer-related stated S&P Global Ratings in its report. The report acknowledges a high degree of uncertainty about the rate of spread and peak of the Covid-19 outbreak. Some government authorities estimate the pandemic will peak about mid-year and we are using this assumption in assessing the economic and credit implications. As the situation evolves we will update our assumptions a...
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The GCC conventional and Islamic banks will see significantly reduced revenue and credit growth in 2020 mainly due to the sharp decline in oil prices accelerated real-estate price corrections in some markets and drop in vital nonoil economic sectors said a report. The sharp drop in oil prices and measures implemented by regional governments to contain transmission of the coronavirus (Covid-19) will take a toll on important sectors such as real estate hospitality and consumer-related stated S&P Global Ratings in its report. The report acknowledges a high degree of uncertainty about the rate of spread and peak of the Covid-19 outbreak. Some government authorities estimate the pandemic will peak about mid-year and we are using this assumption in assessing the economic and credit implications. As the situation evolves we will update our assumptions a...
Oman s Ministry of Manpower (MoM) in a major move has permitted some companies to hire expatriate workers provided they meet a set of criteria outlined for the sector. Sheikh Abdullah bin Nasser al Bakri Minister of Manpower yesterday issued decision 127/2020 regulating the recruitment of expatriate workers for the construction sector and brick factories reported Oman Observer. The exception is made to small and medium enterprises (SMEs) who are full-time employers and are registered with the Public Authority for Small and Medium Enterprises Development and insured with the Public Authority for Social Insurance it stated. The ministry also clarified that excluded from this decision are the establishments managing government projects excellent grade companies and firms that employ 100 or more workers said the report. As per...
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Oman s Ministry of Manpower (MoM) in a major move has permitted some companies to hire expatriate workers provided they meet a set of criteria outlined for the sector. Sheikh Abdullah bin Nasser al Bakri Minister of Manpower yesterday issued decision 127/2020 regulating the recruitment of expatriate workers for the construction sector and brick factories reported Oman Observer. The exception is made to small and medium enterprises (SMEs) who are full-time employers and are registered with the Public Authority for Small and Medium Enterprises Development and insured with the Public Authority for Social Insurance it stated. The ministry also clarified that excluded from this decision are the establishments managing government projects excellent grade companies and firms that employ 100 or more workers said the report. As per...
Prior to the coronavirus (Covid-19) outbreak leading data and analytics company GlobalData had predicted that there would be an acceleration in the pace of growth in the global construction industry but given the severe disruption in China and other leading economies worldwide following the outbreak the forecast for growth in 2020 has now been revised down to 0.5% (from 3.1 per cent previously). The current forecast assumes that the outbreak is contained across all major markets by the end of the second quarter following which conditions would allow for a return to normalcy in terms of economic activity and freedom of movement in the second half of the year. However there will be a lingering and potentially heavy impact on private investment owing to the financial toll that was inflicted upon businesses and investors across a wide range of sectors stated the top analytics company in its Global ...
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Prior to the coronavirus (Covid-19) outbreak leading data and analytics company GlobalData had predicted that there would be an acceleration in the pace of growth in the global construction industry but given the severe disruption in China and other leading economies worldwide following the outbreak the forecast for growth in 2020 has now been revised down to 0.5% (from 3.1 per cent previously). The current forecast assumes that the outbreak is contained across all major markets by the end of the second quarter following which conditions would allow for a return to normalcy in terms of economic activity and freedom of movement in the second half of the year. However there will be a lingering and potentially heavy impact on private investment owing to the financial toll that was inflicted upon businesses and investors across a wide range of sectors stated the top analytics company in its Global ...
The threat of the coronavirus disease (Covid-19) pandemic is set to change the region s real estate design and property management in the short and long term according to a leading UAE-based property developer. Lootah Real Estate Development (Lootah) noted the ways in how real estate can change due to Covid-19 threat - listing down its immediate solutions while advising long-term measures developers can do. As the UAE implements various measures to combat the spread of the disease Lootah runs down the changes they have done as well as recommends long-term solutions other real estate developers could observe to combat Covid-19. According to Johns Hopkins University and Medicine Covid-19 has already infected over 665 164 worldwide and has taken the lives of more than 30 852 people as of March 29 2020 - pushing governments around the globe to implement lockdowns and sending ...
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The threat of the coronavirus disease (Covid-19) pandemic is set to change the region s real estate design and property management in the short and long term according to a leading UAE-based property developer. Lootah Real Estate Development (Lootah) noted the ways in how real estate can change due to Covid-19 threat - listing down its immediate solutions while advising long-term measures developers can do. As the UAE implements various measures to combat the spread of the disease Lootah runs down the changes they have done as well as recommends long-term solutions other real estate developers could observe to combat Covid-19. According to Johns Hopkins University and Medicine Covid-19 has already infected over 665 164 worldwide and has taken the lives of more than 30 852 people as of March 29 2020 - pushing governments around the globe to implement lockdowns and sending ...
Saudi Arabia said the total value of awarded contracts for full year 2019 surged to hit SR197.1 billion ( 52.6 billion) which is the highest since 2015 said the US-Saudi Business Council (USSBC) in its Contract Awards Index for the Fourth Quarter 2019. The total value of awarded contracts during the fourth quarter hit SR35.3 billion ( 9.4 billion) it stated. Sector wise real estate topped the list with SR12.1 billion ( 3.2 billion) worth of awarded contracts while the oil and gas sector edged down to second from last quarter s top spot as the value of awarded contracts reached SR7.7 billion ( 2 billion) followed by the water sector at third position with SR6.3 billion ( 1.7 billion) worth of contract awards stated the report. The USSBC Contract Awards Index (CAI) is an original report created by the US-Saudi Business Council s economist Albara a Alwazir. It encompasses construction-related contract awards across a...
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Saudi Arabia said the total value of awarded contracts for full year 2019 surged to hit SR197.1 billion ( 52.6 billion) which is the highest since 2015 said the US-Saudi Business Council (USSBC) in its Contract Awards Index for the Fourth Quarter 2019. The total value of awarded contracts during the fourth quarter hit SR35.3 billion ( 9.4 billion) it stated. Sector wise real estate topped the list with SR12.1 billion ( 3.2 billion) worth of awarded contracts while the oil and gas sector edged down to second from last quarter s top spot as the value of awarded contracts reached SR7.7 billion ( 2 billion) followed by the water sector at third position with SR6.3 billion ( 1.7 billion) worth of contract awards stated the report. The USSBC Contract Awards Index (CAI) is an original report created by the US-Saudi Business Council s economist Albara a Alwazir. It encompasses construction-related contract awards across a...
The UAE s construction sector has been indirectly affected by some of the social distancing measures that have been implemented to flatten the curve of the spread of the coronavirus (COVID-19) according to a report. Global economic activity has slowed sharply following the rapid spread of the virus. The pandemic has caused business closures city curfews travel bans financial market upheavals and manufacturing shutdowns in major global economic hubs stated GlobalData a leading data and analytics company. The impact of the virus has also been felt in the UAE where precautionary measures have been implemented to combat the spread of the virus through social distancing it added. In the construction sector remote working which some private sector employers in the UAE have voluntarily offered could impact administrative procedures that are essential for site works to progress such as sign-offs and schedul...
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The UAE s construction sector has been indirectly affected by some of the social distancing measures that have been implemented to flatten the curve of the spread of the coronavirus (COVID-19) according to a report. Global economic activity has slowed sharply following the rapid spread of the virus. The pandemic has caused business closures city curfews travel bans financial market upheavals and manufacturing shutdowns in major global economic hubs stated GlobalData a leading data and analytics company. The impact of the virus has also been felt in the UAE where precautionary measures have been implemented to combat the spread of the virus through social distancing it added. In the construction sector remote working which some private sector employers in the UAE have voluntarily offered could impact administrative procedures that are essential for site works to progress such as sign-offs and schedul...
The UAE s construction sector has been indirectly affected by some of the social distancing measures that have been implemented to flatten the curve of the spread of the coronavirus (COVID-19) according to a report. Global economic activity has slowed sharply following the rapid spread of the virus. The pandemic has caused business closures city curfews travel bans financial market upheavals and manufacturing shutdowns in major global economic hubs stated GlobalData a leading data and analytics company. The impact of the virus has also been felt in the UAE where precautionary measures have been implemented to combat the spread of the virus through social distancing it added. In the construction sector remote working which some private sector employers in the UAE have voluntarily offered could impact administrative procedures that are essential for site works to progress such as sign-offs and schedul...
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The UAE s construction sector has been indirectly affected by some of the social distancing measures that have been implemented to flatten the curve of the spread of the coronavirus (COVID-19) according to a report. Global economic activity has slowed sharply following the rapid spread of the virus. The pandemic has caused business closures city curfews travel bans financial market upheavals and manufacturing shutdowns in major global economic hubs stated GlobalData a leading data and analytics company. The impact of the virus has also been felt in the UAE where precautionary measures have been implemented to combat the spread of the virus through social distancing it added. In the construction sector remote working which some private sector employers in the UAE have voluntarily offered could impact administrative procedures that are essential for site works to progress such as sign-offs and schedul...
UAE-based real estate developer and asset management company Sultan bin Ali Al Owais said it has estabished a short term rental division to cater to the anticipated demand during the Dubai Expo 2020. The Emirati company which has offices in Dubai and Sharjah specifically develops properties to rent and owns and manages a portfolio of over 2 000 properties across the country. The new division is being launched with 250 short term rental units and all properties are located within accessibility and proximity to the Expo 2020 site. The move to expand to short term rentals comes in line with the world s most anticipated event; the Dubai Expo said a top official. Coming from a heritage of real estate development where we build for the purpose of renting out our principal audience is predominantly made up of expats looking f...
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UAE-based real estate developer and asset management company Sultan bin Ali Al Owais said it has estabished a short term rental division to cater to the anticipated demand during the Dubai Expo 2020. The Emirati company which has offices in Dubai and Sharjah specifically develops properties to rent and owns and manages a portfolio of over 2 000 properties across the country. The new division is being launched with 250 short term rental units and all properties are located within accessibility and proximity to the Expo 2020 site. The move to expand to short term rentals comes in line with the world s most anticipated event; the Dubai Expo said a top official. Coming from a heritage of real estate development where we build for the purpose of renting out our principal audience is predominantly made up of expats looking f...
As new cases of the Coronavirus emerge in the UAE and Saudi Arabia YouGov s ongoing tracker captures public sentiment around COVID-19 and shows how residents in the two countries are reacting to the rising number of infections. The latest data reveals that 62 per cent respondents in both the countries who were surveyed between March 11 and 18 said they are very scared or fairly scared about contracting the Coronavirus. 30 per cent on the other hand are not very or not at all scared. Although older people are believed to be the most vulnerable to this pandemic a third of respondents in UAE and Saudi Arabia aged 45 years (34 per cent) said they are either not very scared or not at all scared about getting infected. Among the genders a higher number of women than men in the two countries are fearful of acquiring the virus (67 per cent vs 60 per ce...
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As new cases of the Coronavirus emerge in the UAE and Saudi Arabia YouGov s ongoing tracker captures public sentiment around COVID-19 and shows how residents in the two countries are reacting to the rising number of infections. The latest data reveals that 62 per cent respondents in both the countries who were surveyed between March 11 and 18 said they are very scared or fairly scared about contracting the Coronavirus. 30 per cent on the other hand are not very or not at all scared. Although older people are believed to be the most vulnerable to this pandemic a third of respondents in UAE and Saudi Arabia aged 45 years (34 per cent) said they are either not very scared or not at all scared about getting infected. Among the genders a higher number of women than men in the two countries are fearful of acquiring the virus (67 per cent vs 60 per ce...
UAE s real estate sector has remained largely resilient during the first two months of 2020 and now with the introduction of the Dh100 billion ( 27 billion) stimulus package it is a shot-in-the-arm for the property market in the medium-to-long term said Savills a leading global real estate consultancy. The comprehensive economic scheme announced by the UAE Central Bank is aimed at containing the impact of the coronavirus outbreak (Covid-19). Richard Paul the head of professional services and strategic consultancy for Savills Middle East said: The exact impact of Covid-19 is unknown but any disruption to the real estate markets is likely to be a near term delay or a knee-jerk reaction rather than a fundamental downturn over the long term. There will be inevitable impacts on economic growth tourism high-street retail spends and so forth but there are longer-term out takes such as accelerating trends within f...
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UAE s real estate sector has remained largely resilient during the first two months of 2020 and now with the introduction of the Dh100 billion ( 27 billion) stimulus package it is a shot-in-the-arm for the property market in the medium-to-long term said Savills a leading global real estate consultancy. The comprehensive economic scheme announced by the UAE Central Bank is aimed at containing the impact of the coronavirus outbreak (Covid-19). Richard Paul the head of professional services and strategic consultancy for Savills Middle East said: The exact impact of Covid-19 is unknown but any disruption to the real estate markets is likely to be a near term delay or a knee-jerk reaction rather than a fundamental downturn over the long term. There will be inevitable impacts on economic growth tourism high-street retail spends and so forth but there are longer-term out takes such as accelerating trends within f...
Samoter and Asphaltica the two major trade shows being held in Verona Italy dedicated to construction equipment and the bitumen and road infrastructure have been postponed to October due to the current issues surrounding the coronavirus Covid-19. Earlier scheduled to be held on March 21 Samoter was moved to the May 16-20 slot along with its co-located events Asphaltica the road infrastructure event and ICCX Southern Europe exhibition-conference for concrete prefabrication said the organiser Veronafiere. These expos will now be jointly held in Verona from October 21 to 25 alongside Oil&nonOil the energy fuel and mobility services trade fair it added. According to Veronafiere the decision was taken in view of the emergency situation prevailing in Italy. The latest dispositions in ...
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Samoter and Asphaltica the two major trade shows being held in Verona Italy dedicated to construction equipment and the bitumen and road infrastructure have been postponed to October due to the current issues surrounding the coronavirus Covid-19. Earlier scheduled to be held on March 21 Samoter was moved to the May 16-20 slot along with its co-located events Asphaltica the road infrastructure event and ICCX Southern Europe exhibition-conference for concrete prefabrication said the organiser Veronafiere. These expos will now be jointly held in Verona from October 21 to 25 alongside Oil&nonOil the energy fuel and mobility services trade fair it added. According to Veronafiere the decision was taken in view of the emergency situation prevailing in Italy. The latest dispositions in ...
Kuwait s real estate sector witnessed solid growth in 2019 with the value of the transactions hitting KD3.7 billion ( 12.04 billion) the second-highest in the last four years according to a report by Kuwait Finance House (KFH). The number of deals too rose 6.4 per cent to 6 765 last year stated the report. However the transaction value for 2019 was down 1.5 per cent when compared to the previous year it added. During the last quarter Kuwait s real estate sales fell 11 per cent to KD863 million compared to the Q3 mainly because of lower investment and commercial property sales. On an annual basis real estate sales retreated by 26% due to lower commercial property and private residence sales and a higher plunge in the investment sector sales it added.- TradeArabia News Service ...
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Kuwait s real estate sector witnessed solid growth in 2019 with the value of the transactions hitting KD3.7 billion ( 12.04 billion) the second-highest in the last four years according to a report by Kuwait Finance House (KFH). The number of deals too rose 6.4 per cent to 6 765 last year stated the report. However the transaction value for 2019 was down 1.5 per cent when compared to the previous year it added. During the last quarter Kuwait s real estate sales fell 11 per cent to KD863 million compared to the Q3 mainly because of lower investment and commercial property sales. On an annual basis real estate sales retreated by 26% due to lower commercial property and private residence sales and a higher plunge in the investment sector sales it added.- TradeArabia News Service ...
The Construction Technology Forum - Saudi Arabia a major industry event that brings together the global leaders in construction technology has been postponed to November due to the current issues surrounding the coronavirus the event organisers said in a statement. The debut Saudi edition of Construction Technology Forum was scheduled to be held from April 14 to 15 at the the Intercontinental Riyadh. In light of the recent developments around the COVID-19 virus Jumana House - Ventures ME in consultation with the industry has decided to postpone Construction Technology Forum KSA said the statement. Whilst Saudi Arabia remains a safe place to travel due to the difficulty around global travel arrangements for key event stakeholders and in consideration of everyone s well-being the event will now be held from November 3 to 4. The forum has developed into an incredible programme receiving much interest ...
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The Construction Technology Forum - Saudi Arabia a major industry event that brings together the global leaders in construction technology has been postponed to November due to the current issues surrounding the coronavirus the event organisers said in a statement. The debut Saudi edition of Construction Technology Forum was scheduled to be held from April 14 to 15 at the the Intercontinental Riyadh. In light of the recent developments around the COVID-19 virus Jumana House - Ventures ME in consultation with the industry has decided to postpone Construction Technology Forum KSA said the statement. Whilst Saudi Arabia remains a safe place to travel due to the difficulty around global travel arrangements for key event stakeholders and in consideration of everyone s well-being the event will now be held from November 3 to 4. The forum has developed into an incredible programme receiving much interest ...
The US authorities have officially kicked off construction work at the country s pavilion being developed as part of the upcoming Expo 2020 Dubai said a report. The first concrete pour was completed in tthe presence of US Ambassador to the UAE John Rakolta Jr. and Counsellor of the Department of State T. Ulrich Brechbuhl and othwer officials according to a press release issued by the US Embassy. Speaking on the occasion Rakolta said: The US pavilion will showcase how freedom and liberty of thought have enabled success and innovation for American entrepreneurs and innovators. We will share this message with the millions of visitors who will come to Dubai to attend Expo 2020 and we look forward to welcoming them to the pavilion of the US he stated. Brechbuhl said: The Department of State is helping tell America s story at what will be a World s Fair for the ages. We are pro...
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The US authorities have officially kicked off construction work at the country s pavilion being developed as part of the upcoming Expo 2020 Dubai said a report. The first concrete pour was completed in tthe presence of US Ambassador to the UAE John Rakolta Jr. and Counsellor of the Department of State T. Ulrich Brechbuhl and othwer officials according to a press release issued by the US Embassy. Speaking on the occasion Rakolta said: The US pavilion will showcase how freedom and liberty of thought have enabled success and innovation for American entrepreneurs and innovators. We will share this message with the millions of visitors who will come to Dubai to attend Expo 2020 and we look forward to welcoming them to the pavilion of the US he stated. Brechbuhl said: The Department of State is helping tell America s story at what will be a World s Fair for the ages. We are pro...
DP World and the Renault F1 Team have signed an agreement making DP World the Global Logistics Partner and Title Partner of the team which will become the Renault DP World F1 Team starting from the 2020 season. Under the partnership teams from DP World Renault Sport Racing and Groupe Renault will leverage the F1 global marketing platform and collaboratively explore opportunities to increase the efficiency of their supply chain. DP World is a world leader in trade and is rapidly transforming into the leading provider of global supply chain solutions for cargo owners. Its history goes back to 1972 at Port Rashid in Dubai in the United Arab Emirates. Today the company has a team of over 50 000 people working at more than 150 operations around the world. With a strategically-located network of ports parks logistics economic zones and marine services in both mature and high-growth markets around the globe DP W...
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DP World and the Renault F1 Team have signed an agreement making DP World the Global Logistics Partner and Title Partner of the team which will become the Renault DP World F1 Team starting from the 2020 season. Under the partnership teams from DP World Renault Sport Racing and Groupe Renault will leverage the F1 global marketing platform and collaboratively explore opportunities to increase the efficiency of their supply chain. DP World is a world leader in trade and is rapidly transforming into the leading provider of global supply chain solutions for cargo owners. Its history goes back to 1972 at Port Rashid in Dubai in the United Arab Emirates. Today the company has a team of over 50 000 people working at more than 150 operations around the world. With a strategically-located network of ports parks logistics economic zones and marine services in both mature and high-growth markets around the globe DP W...
Case Construction Equipment a leading seller and supporter of a full line of construction equipment around the world has appointed Dragan Krznaric as its new commercial director for the Middle East and Africa (MEA) region. A renowned brand of CNH Industrial a Dutch-domiciled multinational corporation with corporate offices in Amsterdam and London Case Construction Equipment has a mahjor presence in the region. Krznaric was most recently the business manager for Middle East where he was responsible for overseeing the unit s sales and supply chain operations said statement from Case. In his new role Krznaric will be handling the CNH Industrial s construction equipment businesses it stated. An industry veteran Krznaric brings a wealth of experience to his new role with more than 20 years of industry experience and over 12 years of regional experience. In the Gulf Case Construction Equipment sells and supports a...
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Case Construction Equipment a leading seller and supporter of a full line of construction equipment around the world has appointed Dragan Krznaric as its new commercial director for the Middle East and Africa (MEA) region. A renowned brand of CNH Industrial a Dutch-domiciled multinational corporation with corporate offices in Amsterdam and London Case Construction Equipment has a mahjor presence in the region. Krznaric was most recently the business manager for Middle East where he was responsible for overseeing the unit s sales and supply chain operations said statement from Case. In his new role Krznaric will be handling the CNH Industrial s construction equipment businesses it stated. An industry veteran Krznaric brings a wealth of experience to his new role with more than 20 years of industry experience and over 12 years of regional experience. In the Gulf Case Construction Equipment sells and supports a...
The real estate market in Casablanca Morocco remained stable throughout 2019 with the city seeing the completion of major projects and the announcement of new ones according to JLL a leading expert in the real estate and hospitality services markets. While most sectors faced challenges in the second half of 2019 the introduction of REITs and the approval of new real estate investment schemes are expected to boost the real estate sector creating significant portfolios in Morocco and attracting foreign investors in the coming years stated JLL in its 2019 Year in Review report. Morocco is increasingly becoming a strategic target for international investors seeking to diversify real estate investment opportunities remarked Walid Riahi the senior analyst research and valuation advisory at JLL Morocco. The latest investment schemes are paving the way for a new investment vehicle that has proven to be very at...
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The real estate market in Casablanca Morocco remained stable throughout 2019 with the city seeing the completion of major projects and the announcement of new ones according to JLL a leading expert in the real estate and hospitality services markets. While most sectors faced challenges in the second half of 2019 the introduction of REITs and the approval of new real estate investment schemes are expected to boost the real estate sector creating significant portfolios in Morocco and attracting foreign investors in the coming years stated JLL in its 2019 Year in Review report. Morocco is increasingly becoming a strategic target for international investors seeking to diversify real estate investment opportunities remarked Walid Riahi the senior analyst research and valuation advisory at JLL Morocco. The latest investment schemes are paving the way for a new investment vehicle that has proven to be very at...
The Abu Dhabi Maritime Academy (ADMA) has signed a memorandum of understanding (MoU) with the National Association of Freight and Logistics (NAFL) to further the logistics education and training standards offered in the UAE. Both organisations will work closely together to create and introduce new professional development programmes in the field of freight and logistics while also offering globally recognised degrees such as the International Federation of Freight Forwarders Associations (FIATA) Diploma a statement said. The agreement was signed by Captain Maktoum Al Houqani Managing Director Abu Dhabi Maritime Academy; and Nadia Abdul Aziz President of NAFL at ADMA during an event-filled day that included a seminar showcasing the new courses on offer and a workshop highlighting the freight forwarding and logistics service market. Captain Al Houqani said: Reinforcing ...
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The Abu Dhabi Maritime Academy (ADMA) has signed a memorandum of understanding (MoU) with the National Association of Freight and Logistics (NAFL) to further the logistics education and training standards offered in the UAE. Both organisations will work closely together to create and introduce new professional development programmes in the field of freight and logistics while also offering globally recognised degrees such as the International Federation of Freight Forwarders Associations (FIATA) Diploma a statement said. The agreement was signed by Captain Maktoum Al Houqani Managing Director Abu Dhabi Maritime Academy; and Nadia Abdul Aziz President of NAFL at ADMA during an event-filled day that included a seminar showcasing the new courses on offer and a workshop highlighting the freight forwarding and logistics service market. Captain Al Houqani said: Reinforcing ...
Bahrain-based Kanoo Real Estate one of the main pillars of the Yusuf Bin Ahmed Kanoo Group has joined the Fawateer service being offered by Benefit the kingdom s leading regional player in electronic financial transactions. The service has been made available through BenefitPay and Banks E-Banking channels. Kanoo Real Estate one of the main pillars of the Yusuf Bin Ahmed Kanoo Group was established by Haji Yusuf Bin Ahmed Kanoo in 1890 and is one of the oldest companies in the field. The group operates and owns several companies of different activities throughout Bahrain and the GCC. The sizes of the group s project vary from office spaces showrooms as well as logistics facilities. In its recent years the group succeeded in establishing logistics facilities warehousing facilities as well as marine services in the King Abdul Aziz Port in Dammam Saudi Arabia in addition to other significant projects ...
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Bahrain-based Kanoo Real Estate one of the main pillars of the Yusuf Bin Ahmed Kanoo Group has joined the Fawateer service being offered by Benefit the kingdom s leading regional player in electronic financial transactions. The service has been made available through BenefitPay and Banks E-Banking channels. Kanoo Real Estate one of the main pillars of the Yusuf Bin Ahmed Kanoo Group was established by Haji Yusuf Bin Ahmed Kanoo in 1890 and is one of the oldest companies in the field. The group operates and owns several companies of different activities throughout Bahrain and the GCC. The sizes of the group s project vary from office spaces showrooms as well as logistics facilities. In its recent years the group succeeded in establishing logistics facilities warehousing facilities as well as marine services in the King Abdul Aziz Port in Dammam Saudi Arabia in addition to other significant projects ...
UAE government has reviewed a series of construction and development projects in region and around the country worth Dh2 billion ( 544 million). The Follow-Up Committee of the Initiatives of the UAE President meeting was chaired by Jaber Mohammed Ghanem Al Suwaidi the General Director of the Court. The committee also approved several major projects including the construction of 379 residential units at Al Khawaneej district in Dubai located between Sheikh Mohamed bin Zayed Road and Emirates Road at an investment of Dh501 million. During the meeting Al Suwaidi was briefed about the progress of the Sheikh Khalifa Specialist Hospital Project in Fujairah. The project being developed at a cost of Dh865.9 million is due for completion in February next year. The 292-bed hospital which covers an area of 83 965-square meters will help in the treatment of victims of disasters and serious accidents it stated. br...
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UAE government has reviewed a series of construction and development projects in region and around the country worth Dh2 billion ( 544 million). The Follow-Up Committee of the Initiatives of the UAE President meeting was chaired by Jaber Mohammed Ghanem Al Suwaidi the General Director of the Court. The committee also approved several major projects including the construction of 379 residential units at Al Khawaneej district in Dubai located between Sheikh Mohamed bin Zayed Road and Emirates Road at an investment of Dh501 million. During the meeting Al Suwaidi was briefed about the progress of the Sheikh Khalifa Specialist Hospital Project in Fujairah. The project being developed at a cost of Dh865.9 million is due for completion in February next year. The 292-bed hospital which covers an area of 83 965-square meters will help in the treatment of victims of disasters and serious accidents it stated. br...
Following a few years of macro-level market headwinds and ahead of the Expo 2020 the real estate sector in the UAE is starting to show signs of recovery and revival thanks to the ongoing positive initiatives taken by the UAE Government said a report by leading global real estate consultancy Savills. As the country enters a new decade with an important year for its history Savills Middle East experts have analysed the state of the market and the new key trends to watch for in the coming months and years. Initiatives including the opening up of the market to foreign investors in Abu Dhabi and the launch of freehold residential projects in Sharjah along with the introduction of long-term UAE residency visas have contributed to significant transactions across these two Emirates in the last twelve months stated Savills in its latest UAE Property Market Report. With the establishment of a real estate committee in Dubai the market witness...
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Following a few years of macro-level market headwinds and ahead of the Expo 2020 the real estate sector in the UAE is starting to show signs of recovery and revival thanks to the ongoing positive initiatives taken by the UAE Government said a report by leading global real estate consultancy Savills. As the country enters a new decade with an important year for its history Savills Middle East experts have analysed the state of the market and the new key trends to watch for in the coming months and years. Initiatives including the opening up of the market to foreign investors in Abu Dhabi and the launch of freehold residential projects in Sharjah along with the introduction of long-term UAE residency visas have contributed to significant transactions across these two Emirates in the last twelve months stated Savills in its latest UAE Property Market Report. With the establishment of a real estate committee in Dubai the market witness...
P&O Maritime Logistics (POML) a leading marine solutions and logistics company and a subsidiary of Dubai-based marine terminal operator DP World has appointed Martin Helweg as its new chief executive officer. For the past three years Helweg was responsible for P&O Maritime Logistics global operations. In his new role he will be reporting to Mike Bhaskaran DP World s Chief Operating Officer for Logistics and Technology allowing POML to fully integrate around a single customer value proposition. Prior to this Helweg spent over 15 years in marine service solutions working for Svitzer an AP Moller-Maersk Company in regional CFO and CEO roles across the Americas Europe the Middle East and Asia said the statement from POML. Offering a distinctive value proposition to customers POML focuses on three strategic segments Offshore Port Services and Logistics delivering world-class c...
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P&O Maritime Logistics (POML) a leading marine solutions and logistics company and a subsidiary of Dubai-based marine terminal operator DP World has appointed Martin Helweg as its new chief executive officer. For the past three years Helweg was responsible for P&O Maritime Logistics global operations. In his new role he will be reporting to Mike Bhaskaran DP World s Chief Operating Officer for Logistics and Technology allowing POML to fully integrate around a single customer value proposition. Prior to this Helweg spent over 15 years in marine service solutions working for Svitzer an AP Moller-Maersk Company in regional CFO and CEO roles across the Americas Europe the Middle East and Asia said the statement from POML. Offering a distinctive value proposition to customers POML focuses on three strategic segments Offshore Port Services and Logistics delivering world-class c...
Manrre Logistics Fund a private Dubai-based investment company today placed its shares into Nasdaq Dubai s share depository as the company expands options for qualified investors. Manrre Logistics Fund deposited its shares in Nasdaq Dubai s CSD (Central Securities Depository) which looks after them on behalf of shareholders in a trusted environment. The CSD also facilitates share transfers between investors. Launched in 2018 by Dubai-based Palmon Group Manrre is a private real estate fund managed by Dalma Capital. Manrre focuses mainly on institutional-grade logistics and industrial properties in locations including Jafza Dubai Investments Park and Dubai South. Ringing the market-opening bell at Nasdaq Dubai to celebrate the occasion Manohar Lahori founder and chairman of Palmon Group said: Manrre focuses on long-term and stable income generation of logistics and commercial properties with high exposure to the...
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Manrre Logistics Fund a private Dubai-based investment company today placed its shares into Nasdaq Dubai s share depository as the company expands options for qualified investors. Manrre Logistics Fund deposited its shares in Nasdaq Dubai s CSD (Central Securities Depository) which looks after them on behalf of shareholders in a trusted environment. The CSD also facilitates share transfers between investors. Launched in 2018 by Dubai-based Palmon Group Manrre is a private real estate fund managed by Dalma Capital. Manrre focuses mainly on institutional-grade logistics and industrial properties in locations including Jafza Dubai Investments Park and Dubai South. Ringing the market-opening bell at Nasdaq Dubai to celebrate the occasion Manohar Lahori founder and chairman of Palmon Group said: Manrre focuses on long-term and stable income generation of logistics and commercial properties with high exposure to the...
Universal Rolling (Unirol) the leading steel reinforcement bars manufacturer in Bahrain has renewed its position as the steel sector sponsor for the upcoming Gulf Construction Expo. Northern Gulf s leading showcase for building and construction sector The Gulf Construction Expo is being organised by Bahrain-based Hilal Conferences and Exhibitions (HCE). It will run from April 14 to 16 at Bahrain International Exhibition and Convention Centre under the patronage of HRH Prince Khalifa Bin Salman Al Khalifa Prime Minister of Bahrain. Operations Director of Universal Rolling Ali Der said: 2019 was a year full of achievements for Unirol. Through upgrading our rolling mill automation not only were we capable of increasing mill efficiency and raising our annual production but this also opened the door to regional export of our rebars. As a Bahraini brand we utilize the opportunities the Gulf Constru...
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Universal Rolling (Unirol) the leading steel reinforcement bars manufacturer in Bahrain has renewed its position as the steel sector sponsor for the upcoming Gulf Construction Expo. Northern Gulf s leading showcase for building and construction sector The Gulf Construction Expo is being organised by Bahrain-based Hilal Conferences and Exhibitions (HCE). It will run from April 14 to 16 at Bahrain International Exhibition and Convention Centre under the patronage of HRH Prince Khalifa Bin Salman Al Khalifa Prime Minister of Bahrain. Operations Director of Universal Rolling Ali Der said: 2019 was a year full of achievements for Unirol. Through upgrading our rolling mill automation not only were we capable of increasing mill efficiency and raising our annual production but this also opened the door to regional export of our rebars. As a Bahraini brand we utilize the opportunities the Gulf Constru...
The Big 5 Saudi construction show has been postponed to later this year due to the current issues surrounding the coronavirus the organisers of the event scheduled to be held from March 8 to 11 in Jeddah said. It is after careful consideration and in consultation with key stakeholders that dmg events announces the postponement of next week s Big 5 Saudi Jeddah exhibition until later in 2020 due to the difficulty around travel arrangements due to the rapid spread of the coronavirus (COVID-19) and in consideration of everyone s well-being said an update sent to event participants. With more than 10 000 attendees from 45 countries the Big 5 Saudi is extremely important for the construction sector but as such we take our responsibility for the health and safety of our visitors exhibitors employees and of course the local population very seriously it said. /div...
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The Big 5 Saudi construction show has been postponed to later this year due to the current issues surrounding the coronavirus the organisers of the event scheduled to be held from March 8 to 11 in Jeddah said. It is after careful consideration and in consultation with key stakeholders that dmg events announces the postponement of next week s Big 5 Saudi Jeddah exhibition until later in 2020 due to the difficulty around travel arrangements due to the rapid spread of the coronavirus (COVID-19) and in consideration of everyone s well-being said an update sent to event participants. With more than 10 000 attendees from 45 countries the Big 5 Saudi is extremely important for the construction sector but as such we take our responsibility for the health and safety of our visitors exhibitors employees and of course the local population very seriously it said. /div...
Italy s premier earthmoving site and construction machinery industry expo SaMoTer has been postponed to May 16 amid outbreak of the Covid-19 virus in the country. The event was scheduled to take place from March 21 to 25 in the Italian city of Verona. The announcement from leading event organiser Veronafiere comes following a board meeting in Italy as more and more cases of Covid-19 virus are getting reported in the country. The board acknowledged the impossibility of ensuring proper timing for set-up dismantling and logistics operations for upcoming trade fair events. In relation to the requirements of the ordinance issued by the Ministry of Health and the Veneto Region concerning Covid-19 it was decided to postpone the events scheduled for March and early April 2020 said a statement from Veronafiere. As per the new plan SaMoTer will now be held from May 16 to 20 in conjunction with three other events: Asphal...
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Italy s premier earthmoving site and construction machinery industry expo SaMoTer has been postponed to May 16 amid outbreak of the Covid-19 virus in the country. The event was scheduled to take place from March 21 to 25 in the Italian city of Verona. The announcement from leading event organiser Veronafiere comes following a board meeting in Italy as more and more cases of Covid-19 virus are getting reported in the country. The board acknowledged the impossibility of ensuring proper timing for set-up dismantling and logistics operations for upcoming trade fair events. In relation to the requirements of the ordinance issued by the Ministry of Health and the Veneto Region concerning Covid-19 it was decided to postpone the events scheduled for March and early April 2020 said a statement from Veronafiere. As per the new plan SaMoTer will now be held from May 16 to 20 in conjunction with three other events: Asphal...
Saipem a leading company in engineering drilling and construction of major projects in the energy and infrastructure sector has signed an agreement with the Saudi construction company Abdel Hadi Abdullah Al Qahtani & Sons Company (AHQ). The Italy-based company said this agreement paves way for the creation of a joint venture company in Saudi Arabia combining Saipem s EPC competences and skills with AHQ s knowledge and experience in logistic construction and supply chain. The new company aims to maximise local value creation and become a first-tier player in the execution of onshore construction works as well as of onshore pipeline EPC projects it stated. On the new venture Chief Operating Officer (Onshore E&C) Maurizio Coratella said: Saudi Arabia has been a core market to Saipem from the outset and our ambition is to maintain our EPC leading role in the country. We are committed to establishing t...
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Saipem a leading company in engineering drilling and construction of major projects in the energy and infrastructure sector has signed an agreement with the Saudi construction company Abdel Hadi Abdullah Al Qahtani & Sons Company (AHQ). The Italy-based company said this agreement paves way for the creation of a joint venture company in Saudi Arabia combining Saipem s EPC competences and skills with AHQ s knowledge and experience in logistic construction and supply chain. The new company aims to maximise local value creation and become a first-tier player in the execution of onshore construction works as well as of onshore pipeline EPC projects it stated. On the new venture Chief Operating Officer (Onshore E&C) Maurizio Coratella said: Saudi Arabia has been a core market to Saipem from the outset and our ambition is to maintain our EPC leading role in the country. We are committed to establishing t...
AF Construction (AFC) a locally registered and managed building and civil contractor and a fully-owned company of Al Futtaim Group said it has achieved a major milestone clocking 10 million man-hours without a lost time injury (LTI). The company achieved the significant landmark on January 30 2020 at its Creek Horizon Tower project which marked 462 days without an incident said a statement from AFC. The 10 million man-hour record is an industry best and reflects the Al-Futtaim Group s commitment to creating a safe workplace by setting high safety standards and ensuring operational excellence it stated. Over 67 750 task briefings were held and over 159 000 Don t Walk Bys (DWB) were conducted resulting in raising the safety standard and quality for hazard assessment and work processes at the project site it added. AFC pointed out that the LTI achievement was a major milestone for the region ...
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AF Construction (AFC) a locally registered and managed building and civil contractor and a fully-owned company of Al Futtaim Group said it has achieved a major milestone clocking 10 million man-hours without a lost time injury (LTI). The company achieved the significant landmark on January 30 2020 at its Creek Horizon Tower project which marked 462 days without an incident said a statement from AFC. The 10 million man-hour record is an industry best and reflects the Al-Futtaim Group s commitment to creating a safe workplace by setting high safety standards and ensuring operational excellence it stated. Over 67 750 task briefings were held and over 159 000 Don t Walk Bys (DWB) were conducted resulting in raising the safety standard and quality for hazard assessment and work processes at the project site it added. AFC pointed out that the LTI achievement was a major milestone for the region ...
The total value of deals in the construction and real estate sector globally for the fourth quarter of 2019 hit 56.78 billion up 29 per cent when compared to the last four-quarter average of 44.38 billion according to GlobalData s deals database. The value marked a decrease of 3% over the previous quarter it stated. In terms of number of deals the sector saw a drop of 7.4% over the last four-quarter average with 577 deals against the average of 623 deals while in value terms North America led the global activity with deals worth 23.86 billion. The top five construction & real estate deals accounted for 46.1% of the overall value during Q4 2019. These included: Prologis 12.6 billion acquisition of Liberty Property Trust The 4.75 billion acquisition of Hemfosa Fastigheter by Samhallsbyggnadsbolaget i Norden Aroundtown s 3.43 billion acquisition of TLG Immobili...
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The total value of deals in the construction and real estate sector globally for the fourth quarter of 2019 hit 56.78 billion up 29 per cent when compared to the last four-quarter average of 44.38 billion according to GlobalData s deals database. The value marked a decrease of 3% over the previous quarter it stated. In terms of number of deals the sector saw a drop of 7.4% over the last four-quarter average with 577 deals against the average of 623 deals while in value terms North America led the global activity with deals worth 23.86 billion. The top five construction & real estate deals accounted for 46.1% of the overall value during Q4 2019. These included: Prologis 12.6 billion acquisition of Liberty Property Trust The 4.75 billion acquisition of Hemfosa Fastigheter by Samhallsbyggnadsbolaget i Norden Aroundtown s 3.43 billion acquisition of TLG Immobili...
Haji Hassan Group a leading construction company in Bahrain has renewed its strategic sponsorship for the Gulf Construction Expo the largest showcase for the building and construction sector in the Northern Gulf being organised by Hilal Conferences and Exhibitions (HCE). The Gulf Construction Expo will be held from April 14 to 16 at the Bahrain International Exhibition Center under the patronage of HRH Prince Khalifa Bin Salman Al Khalifa Prime Minister of the Kingdom of Bahrain said the event organisers. One of the pioneers in the construction sector in the kingdom Haji Hassan Group has established its reputation as a well-known driver in its field by successfully delivering remarkable high-profile projects such as the Sitra Causeway Bahrain International Circuit Bahrain International Airport Riffa Footbridge Four Seasons Hotel Oncology Center at King Hamad University Hospital Housing Projects in Askar Diyar Al Muharraq and Al Madina Al...
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Haji Hassan Group a leading construction company in Bahrain has renewed its strategic sponsorship for the Gulf Construction Expo the largest showcase for the building and construction sector in the Northern Gulf being organised by Hilal Conferences and Exhibitions (HCE). The Gulf Construction Expo will be held from April 14 to 16 at the Bahrain International Exhibition Center under the patronage of HRH Prince Khalifa Bin Salman Al Khalifa Prime Minister of the Kingdom of Bahrain said the event organisers. One of the pioneers in the construction sector in the kingdom Haji Hassan Group has established its reputation as a well-known driver in its field by successfully delivering remarkable high-profile projects such as the Sitra Causeway Bahrain International Circuit Bahrain International Airport Riffa Footbridge Four Seasons Hotel Oncology Center at King Hamad University Hospital Housing Projects in Askar Diyar Al Muharraq and Al Madina Al...
Sedco Capital a leading global asset manager based in Jeddah Saudi Arabia has announced that it has successfully exited a US-based real estate investment after netting an IRR (Internal Rate of Return) of 11.24 per cent for investors. Located at Fort Worth in Texas the property which boasts 170 000 sq ft of office and industrial space was sold for 29.25 million last month. The prime property was acquired by Sedco Capital in 2001. It is currently leased to Galderma Laboratories a pharmaceutical manufacturer specialising in dermatological treatments and skin care products formerly owned by Nestlé said the statement from Sedco. In addition to the successful sale of the Fort Worth asset Sedco Capital has just concluded a 52.5 million real estate investment in Decatur Atlanta in the US. Willis Avondale Estates is a 197-unit premier mixed-use apartment community that was completed in 2018. The development con...
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Sedco Capital a leading global asset manager based in Jeddah Saudi Arabia has announced that it has successfully exited a US-based real estate investment after netting an IRR (Internal Rate of Return) of 11.24 per cent for investors. Located at Fort Worth in Texas the property which boasts 170 000 sq ft of office and industrial space was sold for 29.25 million last month. The prime property was acquired by Sedco Capital in 2001. It is currently leased to Galderma Laboratories a pharmaceutical manufacturer specialising in dermatological treatments and skin care products formerly owned by Nestlé said the statement from Sedco. In addition to the successful sale of the Fort Worth asset Sedco Capital has just concluded a 52.5 million real estate investment in Decatur Atlanta in the US. Willis Avondale Estates is a 197-unit premier mixed-use apartment community that was completed in 2018. The development con...
The Ministry of Technology and Communications (MTC) and Asyad Group have signed a Memorandum of Understanding (MoU) to leverage ICT in developing the logistics sector in the sultanate. The MoU was signed by Dr Salim bin Sultan al Ruzaiqi Chief Executive Officer MTC and Abdulrahman al Hatmi Chief Executive Officer Asyad. Under this MoU MTC and Asyad will cooperate to develop programmes and laps of the Sas Centre for the 4th Industrial Revolution Technologies which will be launched later on throughout this year to meet the requirements of logistic sector in the sultanate as well as proposing solutions to the challenges faced by this vital sector. Additionally MTC will provide technical consultancies in using 4IR technologies and will conduct training programmes for Asyad s professionals upon the establishment of the centre by MTC IT experts and create a testbeds environment to serve the logistic se...
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The Ministry of Technology and Communications (MTC) and Asyad Group have signed a Memorandum of Understanding (MoU) to leverage ICT in developing the logistics sector in the sultanate. The MoU was signed by Dr Salim bin Sultan al Ruzaiqi Chief Executive Officer MTC and Abdulrahman al Hatmi Chief Executive Officer Asyad. Under this MoU MTC and Asyad will cooperate to develop programmes and laps of the Sas Centre for the 4th Industrial Revolution Technologies which will be launched later on throughout this year to meet the requirements of logistic sector in the sultanate as well as proposing solutions to the challenges faced by this vital sector. Additionally MTC will provide technical consultancies in using 4IR technologies and will conduct training programmes for Asyad s professionals upon the establishment of the centre by MTC IT experts and create a testbeds environment to serve the logistic se...
With the introduction of artificial intelligence (AI) and virtual reality (VR) technology in the real estate sector has made a real impact not only in terms of construction but also in property buying process according to Dubai-based Lootah Real Estate Development. Regarded as one of the pioneer entities in the real estate sector Lootah said Dubai was on the roadmap of smart transformation. The concept of VR is especially gaining more attention as it helps buyers experience and make a purchase without even physically visiting the property stated Lootah while highlighting top emerging trends that have become prominent in the real estate industry of the UAE. According to the World Competitiveness Center of the International Institute for Management Development (IMD) index issued in October 2019 Dubai topped the Mena region in the Smart Cities Index 2019 ahead of major cities such as Paris Rome Brussels Tokyo and Beijing. ...
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With the introduction of artificial intelligence (AI) and virtual reality (VR) technology in the real estate sector has made a real impact not only in terms of construction but also in property buying process according to Dubai-based Lootah Real Estate Development. Regarded as one of the pioneer entities in the real estate sector Lootah said Dubai was on the roadmap of smart transformation. The concept of VR is especially gaining more attention as it helps buyers experience and make a purchase without even physically visiting the property stated Lootah while highlighting top emerging trends that have become prominent in the real estate industry of the UAE. According to the World Competitiveness Center of the International Institute for Management Development (IMD) index issued in October 2019 Dubai topped the Mena region in the Smart Cities Index 2019 ahead of major cities such as Paris Rome Brussels Tokyo and Beijing. ...
Kale Logistics Solutions a provider of IT solutions for the global logistics industry is all set to play a key role at the Air Cargo India to be held next week in Mumbai India. The event an annual event to facilitate knowledge sharing and setting new benchmarks for the air cargo industry stakeholders across the globe will be held from February 25 to 27 at the Grand Hyatt in Santacruz West. Amar More CEO of Kale Logistics Solutions will be participating in a panel that will discuss The Indian subcontinent the most promising air cargo export region of the world . Global players in the airline and air cargo industry such as Cathay Pacific Boeing Etihad Airways Emirates Changi Airport Sharjah Airport to name a few are showcasing their capabilities. Over 2000 professionals representing the airline and air cargo space are expected to participate in this event. Historical data suggests delegates over 2000 ac...
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Kale Logistics Solutions a provider of IT solutions for the global logistics industry is all set to play a key role at the Air Cargo India to be held next week in Mumbai India. The event an annual event to facilitate knowledge sharing and setting new benchmarks for the air cargo industry stakeholders across the globe will be held from February 25 to 27 at the Grand Hyatt in Santacruz West. Amar More CEO of Kale Logistics Solutions will be participating in a panel that will discuss The Indian subcontinent the most promising air cargo export region of the world . Global players in the airline and air cargo industry such as Cathay Pacific Boeing Etihad Airways Emirates Changi Airport Sharjah Airport to name a few are showcasing their capabilities. Over 2000 professionals representing the airline and air cargo space are expected to participate in this event. Historical data suggests delegates over 2000 ac...
Manazil Real Estate Group a leading UAE developer has unveiled its latest hotel project - Pullman Hotel - in Sharjah which is set to open soon. The five-star property will be managed by Accor Middle East and is considered the latest addition to Manazil Group s projects. Building and developing high-quality projects in the hospitality and health care sectors Manazil is internationally renowned for projects with unique designs and architecture including Marjan Island Resort and Spa with a panoramic view of the Gulf; Terhab Hotel and Towers Jumeirah (Jumeirah Village Dubai); and Terhab Hotel & Residence Sharjah Engineer Abdul Mohsen Al Hammadi CEO of Manazil Real Estate Group the owner of Pullman Hotel Sharjah said: This is the latest addition to the group s hotel portfolio managed in collaboration with Accor Middle East. Being one of the fastest-growing groups in hotel management and hospitality industry in the region Acco...
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Manazil Real Estate Group a leading UAE developer has unveiled its latest hotel project - Pullman Hotel - in Sharjah which is set to open soon. The five-star property will be managed by Accor Middle East and is considered the latest addition to Manazil Group s projects. Building and developing high-quality projects in the hospitality and health care sectors Manazil is internationally renowned for projects with unique designs and architecture including Marjan Island Resort and Spa with a panoramic view of the Gulf; Terhab Hotel and Towers Jumeirah (Jumeirah Village Dubai); and Terhab Hotel & Residence Sharjah Engineer Abdul Mohsen Al Hammadi CEO of Manazil Real Estate Group the owner of Pullman Hotel Sharjah said: This is the latest addition to the group s hotel portfolio managed in collaboration with Accor Middle East. Being one of the fastest-growing groups in hotel management and hospitality industry in the region Acco...
P&O Maritime Logistics (formerly Topaz Energy and Marine) a leading provider of marine solutions with a focus on offshore energy and port services and logistics has updated its wired and wireless infrastructure with technology from Aruba a Hewlett Packard Enterprise company. In addition to campus edge switches and Aruba Central a cloud-based management and monitoring solution P&O Maritime Logistics has also deployed industry-leading Aruba Wi-Fi access points said a statement from the company. This network overhaul has resulted in simplified management of network policies and procedures across its offices and 110 offshore vessels. In addition to realising full project return on investment (ROI) in 12 months the project has also enabled the P&O Maritime Logistics IT team to develop mobility apps that enhance crew productivity. Headquartered in Dubai P&O Maritime Logistics provides a wide portfolio of services...
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P&O Maritime Logistics (formerly Topaz Energy and Marine) a leading provider of marine solutions with a focus on offshore energy and port services and logistics has updated its wired and wireless infrastructure with technology from Aruba a Hewlett Packard Enterprise company. In addition to campus edge switches and Aruba Central a cloud-based management and monitoring solution P&O Maritime Logistics has also deployed industry-leading Aruba Wi-Fi access points said a statement from the company. This network overhaul has resulted in simplified management of network policies and procedures across its offices and 110 offshore vessels. In addition to realising full project return on investment (ROI) in 12 months the project has also enabled the P&O Maritime Logistics IT team to develop mobility apps that enhance crew productivity. Headquartered in Dubai P&O Maritime Logistics provides a wide portfolio of services...
Hotel supply in the Middle East and Africa (MEA) continues to grow as the region registered a total of 565 properties with 144 268 rooms under construction in January. Of the total about 419 hotels (117 328 rooms) are in the Middle East while the rest are in the African region the January 2020 hotel pipeline data from STR showed. UAE topped the MEA list for the largest number of rooms under construction with the total put at 49 559 rooms. Three other markets reported more than 4 000 rooms under construction: Saudi Arabia (40 218 rooms) Qatar (14 113 rooms) and Egypt (5 710 rooms). The Middle East total represented a 7.7 per cent year-over-year decrease in the number of rooms in the final phase of the development pipeline. The region also reported an additional 31 487 rooms in the final planning stage and 52 427 rooms in planning. The Africa room construction total was down 0.7 per cent year-over-year. A...
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Hotel supply in the Middle East and Africa (MEA) continues to grow as the region registered a total of 565 properties with 144 268 rooms under construction in January. Of the total about 419 hotels (117 328 rooms) are in the Middle East while the rest are in the African region the January 2020 hotel pipeline data from STR showed. UAE topped the MEA list for the largest number of rooms under construction with the total put at 49 559 rooms. Three other markets reported more than 4 000 rooms under construction: Saudi Arabia (40 218 rooms) Qatar (14 113 rooms) and Egypt (5 710 rooms). The Middle East total represented a 7.7 per cent year-over-year decrease in the number of rooms in the final phase of the development pipeline. The region also reported an additional 31 487 rooms in the final planning stage and 52 427 rooms in planning. The Africa room construction total was down 0.7 per cent year-over-year. A...
The construction industry in Bahrain is likely to play a significant role in tthe country s economic growth in the future according to a new report by global research and advisory firm Oxford Business Group (OBG). The report comes amid Bahrain s ongoing shift towards a knowledge-based economy against a backdrop of lower oil prices and fiscal reforms. Marking 15 years of OBG s operations in the kingdom The Report: Bahrain 2020 looks in detail at the sectors of the economy that are expected to play a leading role in driving new growth as part of broader diversification efforts. Key among those is the construction industry which is benefiting from the rollout of several mega-projects for the energy industry and transport sectors alongside affordable housing and high-end commercial facilities stated the report. OBG also charts the performance of Bahrain s manufacturing industry which i...
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The construction industry in Bahrain is likely to play a significant role in tthe country s economic growth in the future according to a new report by global research and advisory firm Oxford Business Group (OBG). The report comes amid Bahrain s ongoing shift towards a knowledge-based economy against a backdrop of lower oil prices and fiscal reforms. Marking 15 years of OBG s operations in the kingdom The Report: Bahrain 2020 looks in detail at the sectors of the economy that are expected to play a leading role in driving new growth as part of broader diversification efforts. Key among those is the construction industry which is benefiting from the rollout of several mega-projects for the energy industry and transport sectors alongside affordable housing and high-end commercial facilities stated the report. OBG also charts the performance of Bahrain s manufacturing industry which i...
Adnoc Logistics & Services will test biofuel as a bunkering fuel for ships in an effort to comply with the 2020 sulphur cap said a report. Adnoc Logistics & Services CEO Captain Abdulkareem Al Masabi stated that the company has applied the regulations by November 2019 across its entire fleet which totals 28 ships added the Wam report quoting The National newspaper. Al Masabi said that the company now explores other alternatives such as LNG LPG and blended biofuel to carry its vessels to reduce fuel consumption. He noted that Adnoc is studying with one of its subsidiary companies the usage of biofuel and how to reduce fuel consumption. ...
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Adnoc Logistics & Services will test biofuel as a bunkering fuel for ships in an effort to comply with the 2020 sulphur cap said a report. Adnoc Logistics & Services CEO Captain Abdulkareem Al Masabi stated that the company has applied the regulations by November 2019 across its entire fleet which totals 28 ships added the Wam report quoting The National newspaper. Al Masabi said that the company now explores other alternatives such as LNG LPG and blended biofuel to carry its vessels to reduce fuel consumption. He noted that Adnoc is studying with one of its subsidiary companies the usage of biofuel and how to reduce fuel consumption. ...
The total value of merger and acquisition (M&A) deals in the construction and real estate sector globally for December was estimated at 6.98 billion down 44.5 per cent when compared to the last 12-month average of 12.59 billion according to GlobalData. The value marked a decrease of 60.5% over the previous month stated GlobalData in its deals database. Globally Asia-Pacific region topped the M&A real estate list with 3.95 billion worth of announced deals for December while at the country level China emerged on the top with 2.69 billion deals. In terms of volumes Asia-Pacific emerged as the top region for construction & real estate industry M&A deals globally followed by North America and then Europe said GlobalData in its report. The top country in terms of M&A deals activity in December 2019 was the US with 34 deals followed by China with 22 and the UK with 14. In 2019 as...
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The total value of merger and acquisition (M&A) deals in the construction and real estate sector globally for December was estimated at 6.98 billion down 44.5 per cent when compared to the last 12-month average of 12.59 billion according to GlobalData. The value marked a decrease of 60.5% over the previous month stated GlobalData in its deals database. Globally Asia-Pacific region topped the M&A real estate list with 3.95 billion worth of announced deals for December while at the country level China emerged on the top with 2.69 billion deals. In terms of volumes Asia-Pacific emerged as the top region for construction & real estate industry M&A deals globally followed by North America and then Europe said GlobalData in its report. The top country in terms of M&A deals activity in December 2019 was the US with 34 deals followed by China with 22 and the UK with 14. In 2019 as...
LogiPoint a leading logistics zones developer in Saudi Arabia has announced the completion of phase 1 of the Logistics Park Modon 1 project. Phase 1 comprises 350 truck parking spaces designed to bring Modon much needed respite from congestion and pollution through taking the parked and waiting trucks off the roads said a statement. Modon tenants and service providers will have the option of leasing truck parking space which complies with international security and safety standards on daily/monthly/yearly lease as per their requirement. Modon hosts more than 400 factories in the Jeddah Industrial Area. This thriving industrial base needs a state-of-the-art logistics infrastructure which helps bring world-class efficiency to its operations it added. Upon completion the project located in the heart of the Jeddah Industrial Area will include a 20 000-sq-m of multi-temperature warehouses which will be the only one c...
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LogiPoint a leading logistics zones developer in Saudi Arabia has announced the completion of phase 1 of the Logistics Park Modon 1 project. Phase 1 comprises 350 truck parking spaces designed to bring Modon much needed respite from congestion and pollution through taking the parked and waiting trucks off the roads said a statement. Modon tenants and service providers will have the option of leasing truck parking space which complies with international security and safety standards on daily/monthly/yearly lease as per their requirement. Modon hosts more than 400 factories in the Jeddah Industrial Area. This thriving industrial base needs a state-of-the-art logistics infrastructure which helps bring world-class efficiency to its operations it added. Upon completion the project located in the heart of the Jeddah Industrial Area will include a 20 000-sq-m of multi-temperature warehouses which will be the only one c...
The total construction and real estate industry deals for December were estimated to be worth 9.58 billion globally according to GlobalData. The value marked a decrease of 49.4% over the previous month and a drop of 40.7% when compared with the last 12-month average of 16.16 billion stated GlobalData in its deals database. In terms of number of deals the sector saw a drop of 25.7% over the last 12-month average with 156 deals against the average of 210 deals it added. In value terms Europe led the activity with deals worth 4.86 billion. The top five construction & real estate industry deals in December tracked by GlobalData are: Kirkbi Invest and Pai Partners 1.55 billion private equity deal with Armacell International The 915.68m acquisition of Hansteen by Potter UK Bidco d...
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The total construction and real estate industry deals for December were estimated to be worth 9.58 billion globally according to GlobalData. The value marked a decrease of 49.4% over the previous month and a drop of 40.7% when compared with the last 12-month average of 16.16 billion stated GlobalData in its deals database. In terms of number of deals the sector saw a drop of 25.7% over the last 12-month average with 156 deals against the average of 210 deals it added. In value terms Europe led the activity with deals worth 4.86 billion. The top five construction & real estate industry deals in December tracked by GlobalData are: Kirkbi Invest and Pai Partners 1.55 billion private equity deal with Armacell International The 915.68m acquisition of Hansteen by Potter UK Bidco d...
Microsoft has announced that leading international energy service provider Petrofac has chosen Azure s Internet of Things (IoT) for its Connected Construction platform designed to accelerate digital transformation at its project worksites. Using the intelligence of the Azure cloud Petrofac will combine edge and cloud computing to deliver real-time decision support in the field enhancing safety asset management and operational efficiency. Azure s IoT platform allows innovators to build rich visual IoT applications that connect manage and monitor devices securely and at scale. With the options to run SaaS or PaaS deployment models solutions builders can deliver real edge intelligence to field operatives that allows better data-driven decisions through machine learning and advanced analytics. Azure IoT Edge moves cloud analytics and custom business logic to devices for organisations that prioritise busine...
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Microsoft has announced that leading international energy service provider Petrofac has chosen Azure s Internet of Things (IoT) for its Connected Construction platform designed to accelerate digital transformation at its project worksites. Using the intelligence of the Azure cloud Petrofac will combine edge and cloud computing to deliver real-time decision support in the field enhancing safety asset management and operational efficiency. Azure s IoT platform allows innovators to build rich visual IoT applications that connect manage and monitor devices securely and at scale. With the options to run SaaS or PaaS deployment models solutions builders can deliver real edge intelligence to field operatives that allows better data-driven decisions through machine learning and advanced analytics. Azure IoT Edge moves cloud analytics and custom business logic to devices for organisations that prioritise busine...
Oman-based Al Hosn Logistics and Warehousing Services a subsidiary of Al Hosn Investment Company (HIC) has signed an agreement with Amjaad Engineering & Contracting to expand its existing facility at Sohar Free Zone at an additional investment of RO2.5 million ( 6.49 million) said a report. Construction work on the expansion project is expected to be undertaken shortly by Amjaad Engineering & Contracting added the Times of Oman report. It will take the total built-up area of the facility to 22 000 sq m from its current 12 500 sq m it said. Osama Mariam CEO of HIC pointed out that the expansion project would witness the establishment of cold storage warehouses a first of its kind in Sohar Free Zone. As per the plan the cold storage warehouses will be divided into 21 chambers featuring controlled temperature. Moreover all the warehouses would be convertible from dry to cold storage and fro...
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Oman-based Al Hosn Logistics and Warehousing Services a subsidiary of Al Hosn Investment Company (HIC) has signed an agreement with Amjaad Engineering & Contracting to expand its existing facility at Sohar Free Zone at an additional investment of RO2.5 million ( 6.49 million) said a report. Construction work on the expansion project is expected to be undertaken shortly by Amjaad Engineering & Contracting added the Times of Oman report. It will take the total built-up area of the facility to 22 000 sq m from its current 12 500 sq m it said. Osama Mariam CEO of HIC pointed out that the expansion project would witness the establishment of cold storage warehouses a first of its kind in Sohar Free Zone. As per the plan the cold storage warehouses will be divided into 21 chambers featuring controlled temperature. Moreover all the warehouses would be convertible from dry to cold storage and fro...
Millennium Hotels & Resorts Middle East has announced the signing of its first Millennium Central property in Saudi Arabia in partnership with Hasaad Real Estate on stage at the Saudi Arabia Hospitality Investment Conference (SHIC) held in Riyadh from January 21-22. Following the opening of the first Millennium Central hotel in Downtown Dubai just six months ago Millennium Central Jeddah will mark the brand s debut in Saudi Arabia and is the fourth hotel in the Millennium Central brand portfolio. A four-star hotel with 210 rooms and suites spread across two towers the Millennium Central Jeddah will feature three food and beverage outlets a swimming pool a health club three meeting rooms and an event hall with outdoor area. Commenting on the signing Kevork Deldelian who was recently promoted to chief executive officer Millennium Hotels and Resorts MEA said: The signing of the Millennium Central Jeddah represen...
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Millennium Hotels & Resorts Middle East has announced the signing of its first Millennium Central property in Saudi Arabia in partnership with Hasaad Real Estate on stage at the Saudi Arabia Hospitality Investment Conference (SHIC) held in Riyadh from January 21-22. Following the opening of the first Millennium Central hotel in Downtown Dubai just six months ago Millennium Central Jeddah will mark the brand s debut in Saudi Arabia and is the fourth hotel in the Millennium Central brand portfolio. A four-star hotel with 210 rooms and suites spread across two towers the Millennium Central Jeddah will feature three food and beverage outlets a swimming pool a health club three meeting rooms and an event hall with outdoor area. Commenting on the signing Kevork Deldelian who was recently promoted to chief executive officer Millennium Hotels and Resorts MEA said: The signing of the Millennium Central Jeddah represen...
Demand from Middle Eastern investors for US real estate has intensified over the last year bolstered by the continued strength of the US dollar says research from Knight Frank. It indicates that investment into the US from the Middle East has more than doubled in the past year accounting for 15.4% of all global cross-border property investment in the 12 months to the end of September 2019 up from 7.2 per cent over the previous 12-month period. Middle Eastern families are increasingly turning their attention to intergenerational planning to preserve the passage of wealth. Real estate investment remains a significant asset class for wealth preservation evidenced by 29% of Middle Eastern UHNWIs increasing their portfolios allocations to real estate in 2018 according to Knight Frank s Wealth Report published earlier this year. Knight Frank s global head of...
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Demand from Middle Eastern investors for US real estate has intensified over the last year bolstered by the continued strength of the US dollar says research from Knight Frank. It indicates that investment into the US from the Middle East has more than doubled in the past year accounting for 15.4% of all global cross-border property investment in the 12 months to the end of September 2019 up from 7.2 per cent over the previous 12-month period. Middle Eastern families are increasingly turning their attention to intergenerational planning to preserve the passage of wealth. Real estate investment remains a significant asset class for wealth preservation evidenced by 29% of Middle Eastern UHNWIs increasing their portfolios allocations to real estate in 2018 according to Knight Frank s Wealth Report published earlier this year. Knight Frank s global head of...
Dubai has brought together government leaders and heads of major corporations from Asia Latin America and Africa in Davos Switzerland for the launch of the World Logistics Passport a major initiative to boost South-South trade. The World Logistics Passport links Customs World DP World and Emirates Group to enhance connectivity through Dubai and through expertise sharing and process development directly between partner countries. A pilot project operational since July 2019 has already increased trade by participants by 10 per cent. The World Logistics Passport has been designed to overcome the non-tariff trade barriers such as logistics inefficiency that currently limit the growth of trade between developing markets. South-South trade is already worth an estimated 4.28 trillion annually more than half of total developing countries exports in 2018 according to the WTO. But many countries in Asia Latin America ...
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Dubai has brought together government leaders and heads of major corporations from Asia Latin America and Africa in Davos Switzerland for the launch of the World Logistics Passport a major initiative to boost South-South trade. The World Logistics Passport links Customs World DP World and Emirates Group to enhance connectivity through Dubai and through expertise sharing and process development directly between partner countries. A pilot project operational since July 2019 has already increased trade by participants by 10 per cent. The World Logistics Passport has been designed to overcome the non-tariff trade barriers such as logistics inefficiency that currently limit the growth of trade between developing markets. South-South trade is already worth an estimated 4.28 trillion annually more than half of total developing countries exports in 2018 according to the WTO. But many countries in Asia Latin America ...
Dubai real estate sector reported double digit growth in residential and office sales as actual end of year supply was lower than originally projected said the fourth quarter 2019 Dubai real estate review issued by leading consulting firm ValuStrat. The ValuStrat Price Index (VPI) a valuation-based index that tracks change in capital values for a representative fixed basket of properties showed an overall 10.4% annual fall in capital values for residential sector with quarterly declines hitting 2.5%. All established freehold locations monitored by the VPI saw capital values decline from the previous quarter ranging from 1.5% to 3.5%. On an annual basis four out of 26 locations witnessed single-digit declines villas in the Meadows Palm Jumeirah and Emirates Hills as well as apartments in Dubai Sports City. Capital values dropped more than 15% annually for apartments in Discovery Gardens and Dubai Pr...
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Dubai real estate sector reported double digit growth in residential and office sales as actual end of year supply was lower than originally projected said the fourth quarter 2019 Dubai real estate review issued by leading consulting firm ValuStrat. The ValuStrat Price Index (VPI) a valuation-based index that tracks change in capital values for a representative fixed basket of properties showed an overall 10.4% annual fall in capital values for residential sector with quarterly declines hitting 2.5%. All established freehold locations monitored by the VPI saw capital values decline from the previous quarter ranging from 1.5% to 3.5%. On an annual basis four out of 26 locations witnessed single-digit declines villas in the Meadows Palm Jumeirah and Emirates Hills as well as apartments in Dubai Sports City. Capital values dropped more than 15% annually for apartments in Discovery Gardens and Dubai Pr...
Real estate transactions valued Dh24.2 billion ( 6.58 billion) in the Emirate of Sharjah in 2019 increasing by 7.3 percent in comparison to 2018 a media report said. A total of 61 357 transactions were recorded in 2019 increasing by 13.4 percent in comparison to 2018 reported Emirates news agency Wam citing the Sharjah Real Estate Registration Department (SRERD) annual report. Abdulaziz Ahmed Al Shamsi SRERD director-general stated that 11 535 title deeds transactions worth Dh9.6 billion were recorded in all the regions of the Emirate of Sharjah. Other transactions recorded 3 760 mortgage transactions worth Dh14.6 billion 963 valuation transactions and 5 272 initial sales transactions he said. The Sharjah real estate market provides a wide variety of investment opportunities for investors along with financing facilities offered by the banks. The prices of the properties have become affordable for all in...
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Real estate transactions valued Dh24.2 billion ( 6.58 billion) in the Emirate of Sharjah in 2019 increasing by 7.3 percent in comparison to 2018 a media report said. A total of 61 357 transactions were recorded in 2019 increasing by 13.4 percent in comparison to 2018 reported Emirates news agency Wam citing the Sharjah Real Estate Registration Department (SRERD) annual report. Abdulaziz Ahmed Al Shamsi SRERD director-general stated that 11 535 title deeds transactions worth Dh9.6 billion were recorded in all the regions of the Emirate of Sharjah. Other transactions recorded 3 760 mortgage transactions worth Dh14.6 billion 963 valuation transactions and 5 272 initial sales transactions he said. The Sharjah real estate market provides a wide variety of investment opportunities for investors along with financing facilities offered by the banks. The prices of the properties have become affordable for all in...
The growth pace of the regional logistics industry is set to intensify in the year 2020 on the back of boosted UAE growth expectations according to experts. UAE is hosting the region s first Expo in 2020 a mega event which is poised to start in October and for which preparations are in full swing. The growth driven by the event alone can bring huge opportunities for the logistics sector. Shailesh Dash chairman of Gulf Pinnacle Logistics (GPL) said: There is a lot of optimism on the growth of the UAE as a result of Expo 2020 whether it s the general economy the warehousing and logistics industry or the pace and adoption of the smart technology within the logistics space. Expectations of 2020 for UAE are very high. Businesses are preparing for the increased demand on account of the 2020 mega event because of which logistics industry will be a sure beneficiary he said. br ...
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The growth pace of the regional logistics industry is set to intensify in the year 2020 on the back of boosted UAE growth expectations according to experts. UAE is hosting the region s first Expo in 2020 a mega event which is poised to start in October and for which preparations are in full swing. The growth driven by the event alone can bring huge opportunities for the logistics sector. Shailesh Dash chairman of Gulf Pinnacle Logistics (GPL) said: There is a lot of optimism on the growth of the UAE as a result of Expo 2020 whether it s the general economy the warehousing and logistics industry or the pace and adoption of the smart technology within the logistics space. Expectations of 2020 for UAE are very high. Businesses are preparing for the increased demand on account of the 2020 mega event because of which logistics industry will be a sure beneficiary he said. br ...
The GAC Group s marine leisure sports and event specialist GAC Pindar has teamed up with BBC Yacht Transport to provide additional professional transport solutions for the sailing sector. BBC Yacht Transport is a division of the market-leading provider of ocean transport solutions BBC Chartering. The two companies have signed a Memorandum of Understanding which combines BBC Yacht Transport s commitment to competitive pricing with GAC Pindar s solid suite of logistics services to provide a one-stop-shop solution for the sailing industry. The agreement brings together BBC s fleet of 160 multipurpose vessels with GAC Pindar s first-hand knowledge of the sector to offer a door-to-door service to meet customer requirements and timelines. The agreement strengthens the existing relationship between the GAC Group and BBC Chartering who worked together during the last edition of the Volvo Oce...
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The GAC Group s marine leisure sports and event specialist GAC Pindar has teamed up with BBC Yacht Transport to provide additional professional transport solutions for the sailing sector. BBC Yacht Transport is a division of the market-leading provider of ocean transport solutions BBC Chartering. The two companies have signed a Memorandum of Understanding which combines BBC Yacht Transport s commitment to competitive pricing with GAC Pindar s solid suite of logistics services to provide a one-stop-shop solution for the sailing industry. The agreement brings together BBC s fleet of 160 multipurpose vessels with GAC Pindar s first-hand knowledge of the sector to offer a door-to-door service to meet customer requirements and timelines. The agreement strengthens the existing relationship between the GAC Group and BBC Chartering who worked together during the last edition of the Volvo Oce...
Kale Logistics Solutions a leading provider of IT solutions for the global logistics industry has expanded its footprint in Atlanta US. This is a strategic location and will serve as the stepping stone to build a strong presence in North America and serving clients more efficiently said a statement from the company. Atlanta located in Georgia is a prime location in the US as it has the world s busiest airport in terms of traffic. Atlanta is the major connecting point for several destinations in USA as well as overseas. Recently in November 2019 Kale Logistics Solutions implemented North America s first Air Cargo Community System at the Atlanta Airport. This helps all stakeholders to electronically communicate within themselves and with other stakeholders like customs shippers airlines trucking companies customs brokers freight forwarders and cargo handlers. It facilitates the movement of goods and information at...
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Kale Logistics Solutions a leading provider of IT solutions for the global logistics industry has expanded its footprint in Atlanta US. This is a strategic location and will serve as the stepping stone to build a strong presence in North America and serving clients more efficiently said a statement from the company. Atlanta located in Georgia is a prime location in the US as it has the world s busiest airport in terms of traffic. Atlanta is the major connecting point for several destinations in USA as well as overseas. Recently in November 2019 Kale Logistics Solutions implemented North America s first Air Cargo Community System at the Atlanta Airport. This helps all stakeholders to electronically communicate within themselves and with other stakeholders like customs shippers airlines trucking companies customs brokers freight forwarders and cargo handlers. It facilitates the movement of goods and information at...
Leading global alternative asset management firm Investcorp has raised 130 million in anchor commitments which will primarily provide last-mile funding in India a market currently going through a liquidity crunch. BAe Systems Pension Funds Investment Management Limited is the cornerstone investor for this initiative which will focus on projects in the affordable and mid-market housing segment in the top seven cities in India and is subject to regulatory approvals and registrations. Vikram Aggarwal Head of Private Markets BAe Systems Pensions said: We believe that the Indian affordable housing segment represents a sizeable and attractive market opportunity catalysed by urbanisation and structural reforms. BAe Systems is pleased to make a positive contribution to the development of affordable housing in India where there is significant demand but a lack of institutional quality capital to ...
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Leading global alternative asset management firm Investcorp has raised 130 million in anchor commitments which will primarily provide last-mile funding in India a market currently going through a liquidity crunch. BAe Systems Pension Funds Investment Management Limited is the cornerstone investor for this initiative which will focus on projects in the affordable and mid-market housing segment in the top seven cities in India and is subject to regulatory approvals and registrations. Vikram Aggarwal Head of Private Markets BAe Systems Pensions said: We believe that the Indian affordable housing segment represents a sizeable and attractive market opportunity catalysed by urbanisation and structural reforms. BAe Systems is pleased to make a positive contribution to the development of affordable housing in India where there is significant demand but a lack of institutional quality capital to ...
Hilal Conferences and Exhibitions (HCE) will be holding the next edition of Gulf Construction Expo 2020 in strategic partnership with the Labour Fund Tamkeen . The expo takes place from April 14 to 16 at the Bahrain International Exhibition and Convention Centre under the patronage of His Royal Highness Prince Khalifa bin Salman Al Khalifa the Prime Minister of Bahrain. The Chief Executive of Tamkeen Dr Ebrahim Mohammed Janahi stressed the growing importance of the local construction industry and its role in supporting sustainability of economic growth. He further pointed out the opportunity provided by the organisation of this expo offering a platform to promote the construction sector in Bahrain. Private sector enterprises working in this field or any related businesses can take advantage of the various business development and promotional...
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Hilal Conferences and Exhibitions (HCE) will be holding the next edition of Gulf Construction Expo 2020 in strategic partnership with the Labour Fund Tamkeen . The expo takes place from April 14 to 16 at the Bahrain International Exhibition and Convention Centre under the patronage of His Royal Highness Prince Khalifa bin Salman Al Khalifa the Prime Minister of Bahrain. The Chief Executive of Tamkeen Dr Ebrahim Mohammed Janahi stressed the growing importance of the local construction industry and its role in supporting sustainability of economic growth. He further pointed out the opportunity provided by the organisation of this expo offering a platform to promote the construction sector in Bahrain. Private sector enterprises working in this field or any related businesses can take advantage of the various business development and promotional...
A new trade show focused on the latest developments in the transport and logistics sector will be held in Dubai UAE in November. The event SiTL Middle East will be organised by Reed Exhibitions a leading event organiser with over 520 events annually across over 45 economic sectors in Dubai South from November 16 to 18. The new event is the latest addition to Reed Exhibition s regional portfolio of events in the UAE covering the major developments and transformations within the transport and logistics sector. The event is set to provide an effective platform for government and industry stakeholders from across the Middle East Africa and South Asia (MEASA) to access leading technologies that increase efficiency and reduce costs in logistics operations said a statement from the company. The debut edition of SiTL Middle East is set to welcome over 120 exhibitors and more than 2 000 visitors including regional d...
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A new trade show focused on the latest developments in the transport and logistics sector will be held in Dubai UAE in November. The event SiTL Middle East will be organised by Reed Exhibitions a leading event organiser with over 520 events annually across over 45 economic sectors in Dubai South from November 16 to 18. The new event is the latest addition to Reed Exhibition s regional portfolio of events in the UAE covering the major developments and transformations within the transport and logistics sector. The event is set to provide an effective platform for government and industry stakeholders from across the Middle East Africa and South Asia (MEASA) to access leading technologies that increase efficiency and reduce costs in logistics operations said a statement from the company. The debut edition of SiTL Middle East is set to welcome over 120 exhibitors and more than 2 000 visitors including regional d...
With its characteristics of stable income and ability to act as a hedge against inflation real estate continues to be an investment alternative as key macro risks bring uncertainty to global markets said Invesco a leader in real estate investment. We continue to see an increase in interest for real estate across the risk-return perspective from both core and income-producing investments through to higher-return strategies. There is a growing appetite higher up the risk curve and for global diversification said Andrew Hills Managing Director of Global Client Portfolio Management at Invesco Real Estate (IRE) adding that investors are including real estate within multi-asset portfolios to enhance returns. Samer Abdel Kader client manager for Invesco Middle East and Africa said For Middle East sovereigns real estate is seen as offering attractive opportunities for partnerships as well as a way of deploying large volum...
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With its characteristics of stable income and ability to act as a hedge against inflation real estate continues to be an investment alternative as key macro risks bring uncertainty to global markets said Invesco a leader in real estate investment. We continue to see an increase in interest for real estate across the risk-return perspective from both core and income-producing investments through to higher-return strategies. There is a growing appetite higher up the risk curve and for global diversification said Andrew Hills Managing Director of Global Client Portfolio Management at Invesco Real Estate (IRE) adding that investors are including real estate within multi-asset portfolios to enhance returns. Samer Abdel Kader client manager for Invesco Middle East and Africa said For Middle East sovereigns real estate is seen as offering attractive opportunities for partnerships as well as a way of deploying large volum...
UAE-based Azizi Developments a leading private developer said that 35 per cent of the construction of Creek Views is now complete. The 100 per cent freehold development is situated on the iconic Dubai Creek in Dubai Healthcare City. Creek Views is scheduled to be completed by the first quarter of 2021 with 72 per cent of its structure and 10.5 per cent of its block work already having been done. The 19-storey development features 634 residences comprising 396 studios 218 one- and 20 two-bedroom units as well as 33 341 sq ft of premium retail space. Mohamed Ragheb executive director Engineering Division at Azizi Developments said: As one of the very few freehold residential projects in Dubai Healthcare City Creek Views is an exceptional and particularly well-designed development. It is our direct response to the rising demand for strategically located well-connected carefully designed and reasonably priced modern-luxury residen...
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UAE-based Azizi Developments a leading private developer said that 35 per cent of the construction of Creek Views is now complete. The 100 per cent freehold development is situated on the iconic Dubai Creek in Dubai Healthcare City. Creek Views is scheduled to be completed by the first quarter of 2021 with 72 per cent of its structure and 10.5 per cent of its block work already having been done. The 19-storey development features 634 residences comprising 396 studios 218 one- and 20 two-bedroom units as well as 33 341 sq ft of premium retail space. Mohamed Ragheb executive director Engineering Division at Azizi Developments said: As one of the very few freehold residential projects in Dubai Healthcare City Creek Views is an exceptional and particularly well-designed development. It is our direct response to the rising demand for strategically located well-connected carefully designed and reasonably priced modern-luxury residen...
Dubai registered a total of 41 988 real estate transactions in 2019 marking the highest number of sales transactions registered annually in Dubai since 2008 said Property Finder a leading property portal in Mena. The number of property deals during 2019 also marks a growth of 20 per cent in the volume of registered property sales transactions compared to 34 961 transactions in 2018 according to Data Finder the real estate insights and data platform under the Property Finder Group. There were 11 662 property sales transactions registered in Dubai in 2008. The Dubai real estate market has therefore grown by 260 per cent in the past 11 years in terms of the volume of transactions. The second highest number of property sales transactions registered in Dubai since 2008 was in 2017 (40 649). This news comes on the heels of recent reports about the Dubai property market regaining momentum especially after the announcement of the format...
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Dubai registered a total of 41 988 real estate transactions in 2019 marking the highest number of sales transactions registered annually in Dubai since 2008 said Property Finder a leading property portal in Mena. The number of property deals during 2019 also marks a growth of 20 per cent in the volume of registered property sales transactions compared to 34 961 transactions in 2018 according to Data Finder the real estate insights and data platform under the Property Finder Group. There were 11 662 property sales transactions registered in Dubai in 2008. The Dubai real estate market has therefore grown by 260 per cent in the past 11 years in terms of the volume of transactions. The second highest number of property sales transactions registered in Dubai since 2008 was in 2017 (40 649). This news comes on the heels of recent reports about the Dubai property market regaining momentum especially after the announcement of the format...
The future of real estate development is digital with demand for cost-effective innovative and sustainable buildings inspiring data-led business models that will fuel the growth of the Middle East construction industry say industry experts. Innovation and sustainability in construction specifically in connection with new digital solutions are driving the future of real estate in the Middle East said Dierk Mutschler CEO Drees & Sommer a leading construction and real estate consultancy. A gentle slowdown in some regional markets coupled with the emergence of new technology and business models will pave the way for forward-thinking companies to capitalise on these shifts. From 2020 the increasingly competitive environment will result in more demand for quality products leading to a longer-term focus on investment in sustainable business models. After all future business models products and servi...
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The future of real estate development is digital with demand for cost-effective innovative and sustainable buildings inspiring data-led business models that will fuel the growth of the Middle East construction industry say industry experts. Innovation and sustainability in construction specifically in connection with new digital solutions are driving the future of real estate in the Middle East said Dierk Mutschler CEO Drees & Sommer a leading construction and real estate consultancy. A gentle slowdown in some regional markets coupled with the emergence of new technology and business models will pave the way for forward-thinking companies to capitalise on these shifts. From 2020 the increasingly competitive environment will result in more demand for quality products leading to a longer-term focus on investment in sustainable business models. After all future business models products and servi...
Samana Developers a Dubai-based boutique real estate developer today announced the appointment of Atcon Construction for its second project - the Dh100-million ( 27.2 million) Samana Hills. The project is located in Arjan close to Dubai Miracle Garden the world s largest natural flower garden featuring over 50 million flowers and 250 million plants. Samana Developers projects are funded by Samana s asset management arm which is a key factor for investors giving them added security from the developer a statement said. Sustainability is a further attraction with Samana committed to reducing the carbon footprint by incorporating the latest in services and technology to reduce the buildings operating costs. it said. The ground-breaking of the five-storey resort-style residential project took place in September 2019...
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Samana Developers a Dubai-based boutique real estate developer today announced the appointment of Atcon Construction for its second project - the Dh100-million ( 27.2 million) Samana Hills. The project is located in Arjan close to Dubai Miracle Garden the world s largest natural flower garden featuring over 50 million flowers and 250 million plants. Samana Developers projects are funded by Samana s asset management arm which is a key factor for investors giving them added security from the developer a statement said. Sustainability is a further attraction with Samana committed to reducing the carbon footprint by incorporating the latest in services and technology to reduce the buildings operating costs. it said. The ground-breaking of the five-storey resort-style residential project took place in September 2019...
The UK government has agreed to support the financing of a trio of Oman hospital projects won by British firm International Hospitals Group (IHG) a report said. IHG has been appointed for the construction of the Salalah Suwaiq and Khasab hospitals backed by over 500m-worth of support from UK Export Finance (UKEF) said The Construction Index report. UKEF has provided support to help win the contracts and has provided a loan repayable on a commercial basis it said. The three hospitals will provide intensive care emergency services and specialist baby care. The British government said that the new projects will support jobs in the UK throughout the duration of the build by drawing heavily on the expertise of the UK supply chain inclu...
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The UK government has agreed to support the financing of a trio of Oman hospital projects won by British firm International Hospitals Group (IHG) a report said. IHG has been appointed for the construction of the Salalah Suwaiq and Khasab hospitals backed by over 500m-worth of support from UK Export Finance (UKEF) said The Construction Index report. UKEF has provided support to help win the contracts and has provided a loan repayable on a commercial basis it said. The three hospitals will provide intensive care emergency services and specialist baby care. The British government said that the new projects will support jobs in the UK throughout the duration of the build by drawing heavily on the expertise of the UK supply chain inclu...
Legal and regulatory concerns around implementing new technology are holding back real estate businesses from driving innovation in the sector according to a new report by DWF a global legal business. Almost half (45 per cent) of the 375 senior decision makers from global real estate businesses surveyed said that they were unclear or worried about the legal/regulatory implications of new technology admitting that this was their biggest obstacle to implementing new tech within their business. Cyber security fears (43 per cent) and a lack of available data (42 per cent) also featured prominently as barriers to technology implementation. 62 per cent of larger businesses those with revenue of 1bn or more cite lack of data as an obstacle. But despite the concerns the report titled Techtonic Shift in Real Estate also found that financial investment into innovative technology is set to grow substantially in the next ...
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Legal and regulatory concerns around implementing new technology are holding back real estate businesses from driving innovation in the sector according to a new report by DWF a global legal business. Almost half (45 per cent) of the 375 senior decision makers from global real estate businesses surveyed said that they were unclear or worried about the legal/regulatory implications of new technology admitting that this was their biggest obstacle to implementing new tech within their business. Cyber security fears (43 per cent) and a lack of available data (42 per cent) also featured prominently as barriers to technology implementation. 62 per cent of larger businesses those with revenue of 1bn or more cite lack of data as an obstacle. But despite the concerns the report titled Techtonic Shift in Real Estate also found that financial investment into innovative technology is set to grow substantially in the next ...
HBK Contracting Company has signed an agreement with Nasser Bin Khaled Automobiles the authorised general distributor of Mercedes-Benz in Qatar for supply of Mercedes-Benz Actros heads. Boasting decades of experience the Actros has become the most frequently sold truck in the region. High reliability and low total cost of ownership coupled with impressive durability these are the characteristics that traditionally define Mercedes-Benz trucks said the statement from Mercedes-Benz. The agreement is aimed at upgrading the HBK Contracting Company s fleet of trucks and meet the increasing demands of its projects. Founded in 1970 HBK Contracting is one of the major construction companies in Qatar. It has executed many giant projects for the public and private sectors in the country maintaining its position at the top of the construction companies at all times said a top official. Raid Hasan Zyoud op...
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HBK Contracting Company has signed an agreement with Nasser Bin Khaled Automobiles the authorised general distributor of Mercedes-Benz in Qatar for supply of Mercedes-Benz Actros heads. Boasting decades of experience the Actros has become the most frequently sold truck in the region. High reliability and low total cost of ownership coupled with impressive durability these are the characteristics that traditionally define Mercedes-Benz trucks said the statement from Mercedes-Benz. The agreement is aimed at upgrading the HBK Contracting Company s fleet of trucks and meet the increasing demands of its projects. Founded in 1970 HBK Contracting is one of the major construction companies in Qatar. It has executed many giant projects for the public and private sectors in the country maintaining its position at the top of the construction companies at all times said a top official. Raid Hasan Zyoud op...
Earlier this month Saudi Arabian Airlines (Saudia) announced the launch of the Saudi Arabian Logistics (SAL) Co. the new independent entity within the Saudia Group which will act as the main cargo gate and ground handling and logistics services hub across the Saudi airports. The launch was announced in a grand ceremony held in Riyadh and attended by the Governor of Customs Authority Ahmad Al-Haqbani Abdulhadi Al-Mansouri president of the General Authority of Civil Aviation (Gaca); Anef Abanomi president of Saudi Post; Sami Sindi the Saudi Arabian Airlines (Saudia) director general the directors of government agencies working at Saudi airports CEOs of the companies and the strategic units of the Saudia cargo and aviation transport experts. A speech was delivered by Fawaz Al-Fawaz chairman of SAL Board underscoring SAL logistics goal and its pivotal role in achieving the Vision 2030 objectives. Al-Fawaz t...
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Earlier this month Saudi Arabian Airlines (Saudia) announced the launch of the Saudi Arabian Logistics (SAL) Co. the new independent entity within the Saudia Group which will act as the main cargo gate and ground handling and logistics services hub across the Saudi airports. The launch was announced in a grand ceremony held in Riyadh and attended by the Governor of Customs Authority Ahmad Al-Haqbani Abdulhadi Al-Mansouri president of the General Authority of Civil Aviation (Gaca); Anef Abanomi president of Saudi Post; Sami Sindi the Saudi Arabian Airlines (Saudia) director general the directors of government agencies working at Saudi airports CEOs of the companies and the strategic units of the Saudia cargo and aviation transport experts. A speech was delivered by Fawaz Al-Fawaz chairman of SAL Board underscoring SAL logistics goal and its pivotal role in achieving the Vision 2030 objectives. Al-Fawaz t...
The construction sector has taken the lead in the top ten list of business activities that were given licences in the UAE in 2019 according to the latest statistics issued by the UAE Ministry of Economy. Three licences were being issued daily for both construction contracting and general commerce activities following by restaurants which acquired two licences daily reflecting an increase after a period of slowdown. The return of activity in various national economic sectors encouraged the UAE s banking system to provide more financial support to these sectors in 2019 stated the report. A total of 1 050 licences were issued by local economic departments in all emirates for construction contracting businesses in 2019 while some 1 004 licences were issued to general commerce businesses. Some 868 licences were also issued for hot and cold drinks businesses as well as around 755 for new restaurants and 671 for dess...
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The construction sector has taken the lead in the top ten list of business activities that were given licences in the UAE in 2019 according to the latest statistics issued by the UAE Ministry of Economy. Three licences were being issued daily for both construction contracting and general commerce activities following by restaurants which acquired two licences daily reflecting an increase after a period of slowdown. The return of activity in various national economic sectors encouraged the UAE s banking system to provide more financial support to these sectors in 2019 stated the report. A total of 1 050 licences were issued by local economic departments in all emirates for construction contracting businesses in 2019 while some 1 004 licences were issued to general commerce businesses. Some 868 licences were also issued for hot and cold drinks businesses as well as around 755 for new restaurants and 671 for dess...
Three60 Communities a subsidiary of Eltizam Asset Management Group and a leading regional provider of management services to premium residential and commercial communities said it is the first company in the region to provide M100 - The Essentials of Community Association Management training to its employees. Devised by Community Associations Institute in conjunction with Dubai Real Estate Institute (DREI) the training is provided to enhance the knowledge skills and performance of all departments and ensure that participants are trained to the highest international industry standards said the company in a statement. A team of more than 50 community management staff recently undertook the course at the newly launched Eltizam Training Academy and following its resounding success it will now be provided to external organisations interested in training their respective community management team it added. Hend Al Marri...
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Three60 Communities a subsidiary of Eltizam Asset Management Group and a leading regional provider of management services to premium residential and commercial communities said it is the first company in the region to provide M100 - The Essentials of Community Association Management training to its employees. Devised by Community Associations Institute in conjunction with Dubai Real Estate Institute (DREI) the training is provided to enhance the knowledge skills and performance of all departments and ensure that participants are trained to the highest international industry standards said the company in a statement. A team of more than 50 community management staff recently undertook the course at the newly launched Eltizam Training Academy and following its resounding success it will now be provided to external organisations interested in training their respective community management team it added. Hend Al Marri...
Savills a leading real estate advisor said that Amsterdam is set to lead the way amongst alternative office investment destinations in 2020 as Middle East investors look for value in an uncertain European real estate market. Political uncertainty creating volatility in the UK and expensive prices in France and Germany are encouraging investors to look elsewhere to second tier countries such as the Netherlands. As part of its latest European Office Outlook report prime office rents are forecast to grow by 6 per cent in Amsterdam in 2020 the highest level of growth alongside Stockholm and Luxembourg. That compares to an average of 2 per cent growth across other surveyed European cities. According to Savills figures last year the Dutch real estate market received more than 563m from foreign institutions which is the most capital the country had seen in more than a decade. In a recent discussion with REFI Europe Rasmal...
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Savills a leading real estate advisor said that Amsterdam is set to lead the way amongst alternative office investment destinations in 2020 as Middle East investors look for value in an uncertain European real estate market. Political uncertainty creating volatility in the UK and expensive prices in France and Germany are encouraging investors to look elsewhere to second tier countries such as the Netherlands. As part of its latest European Office Outlook report prime office rents are forecast to grow by 6 per cent in Amsterdam in 2020 the highest level of growth alongside Stockholm and Luxembourg. That compares to an average of 2 per cent growth across other surveyed European cities. According to Savills figures last year the Dutch real estate market received more than 563m from foreign institutions which is the most capital the country had seen in more than a decade. In a recent discussion with REFI Europe Rasmal...
Saudi Arabia-based Almajdouie Logistics said it has won the Frost & Sullivan Saudi Arabia Logistics Service Provider Company of the Year Award for the fourth year in a row. Frost & Sullivan global president and managing partner Anoop Zutish presented the award to Almajdouie Logistics deputy CEO Mohammed Ali Almajdouie at the 2019 Middle East Best Practices Awards Banquet held last week in Dubai UAE. The Frost & Sullivan awards recognise companies driven by visionary growth innovation and leadership that will catalyse and transform industries in the near future. The winners were selected for their exceptional accomplishments and superior performance in technological innovation customer service and strategic product development. After receiving the award Almajdouie said: Winning this prestigious award for four consecutive years is a great honour. I would like to thank all our stakehold...
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Saudi Arabia-based Almajdouie Logistics said it has won the Frost & Sullivan Saudi Arabia Logistics Service Provider Company of the Year Award for the fourth year in a row. Frost & Sullivan global president and managing partner Anoop Zutish presented the award to Almajdouie Logistics deputy CEO Mohammed Ali Almajdouie at the 2019 Middle East Best Practices Awards Banquet held last week in Dubai UAE. The Frost & Sullivan awards recognise companies driven by visionary growth innovation and leadership that will catalyse and transform industries in the near future. The winners were selected for their exceptional accomplishments and superior performance in technological innovation customer service and strategic product development. After receiving the award Almajdouie said: Winning this prestigious award for four consecutive years is a great honour. I would like to thank all our stakehold...
More than 340 major players from the global construction industry will be in Jeddah for the 10th edition of the Big 5 Saudi expo in March with an eye on the kingdom s 1.2-trillion construction market. Mega-projects such as NEOM and King Salman Park provide immense opportunities for international companies looking to show commitment to the kingdom said the organisers dmg events. The kingdom s high-profile construction event will be back at the Jeddah Centre for Forum & Events from March 8 to 10 for its grand 10th-anniversary edition. A meeting place for the global construction industry in Saudi Arabia The Big 5 Saudi provides a place to source everything in the construction buying cycle from conception through to completion. Top exhibiting brands from over 20 countries including Greece UK UAE Egy...
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More than 340 major players from the global construction industry will be in Jeddah for the 10th edition of the Big 5 Saudi expo in March with an eye on the kingdom s 1.2-trillion construction market. Mega-projects such as NEOM and King Salman Park provide immense opportunities for international companies looking to show commitment to the kingdom said the organisers dmg events. The kingdom s high-profile construction event will be back at the Jeddah Centre for Forum & Events from March 8 to 10 for its grand 10th-anniversary edition. A meeting place for the global construction industry in Saudi Arabia The Big 5 Saudi provides a place to source everything in the construction buying cycle from conception through to completion. Top exhibiting brands from over 20 countries including Greece UK UAE Egy...
Leaders in Dubai s real estate sector have identified an urgent need for the industry to refocus on end users and diversify future developments in order to drive economic growth for the emirate. Speaking at a roundtable hosted by international real estate consultant Drees & Sommer 13 senior executives from Dubai s major developers contractors architecture firms and consultancies gathered to debate the most pressing issues facing the real estate industry. Moderated by Stephan Degenhart Managing Director Drees & Sommer Middle East the discussion centred around the need for the different disciplines within the real estate business to work together to tackle the current challenges of over-supply sales and product delivery. Summing up the debate Degenhart said: Expectations on the level of return for real estate investors have changed amid increasing competition. While net yields are still good on internatio...
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Leaders in Dubai s real estate sector have identified an urgent need for the industry to refocus on end users and diversify future developments in order to drive economic growth for the emirate. Speaking at a roundtable hosted by international real estate consultant Drees & Sommer 13 senior executives from Dubai s major developers contractors architecture firms and consultancies gathered to debate the most pressing issues facing the real estate industry. Moderated by Stephan Degenhart Managing Director Drees & Sommer Middle East the discussion centred around the need for the different disciplines within the real estate business to work together to tackle the current challenges of over-supply sales and product delivery. Summing up the debate Degenhart said: Expectations on the level of return for real estate investors have changed amid increasing competition. While net yields are still good on internatio...
Foodkart a leading food delivery network in the GCC has chosen GetSwift Limited (Australian Securities Exchange: GSW) as its exclusive SaaS-based last-mile logistics platform. Initially Foodkart will utilise GetSwift in the UAE Oman Qatar and Bahrain with potential to expand further across its home markets said a statement from the company. GetSwift will be critical for features including efficient dispatching of drivers and managing thousands of orders in real time it said. Jithin Sreekumar founder and chief executive officer of Foodkart said: We have tested the software for over three months and are impressed with GetSwift s comprehensive functionality. It s what we have sought for the longest time - a delivery management system that is easy to use for our drivers and clients and accurate for our operational team. The order management is very efficient he added. b...
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Foodkart a leading food delivery network in the GCC has chosen GetSwift Limited (Australian Securities Exchange: GSW) as its exclusive SaaS-based last-mile logistics platform. Initially Foodkart will utilise GetSwift in the UAE Oman Qatar and Bahrain with potential to expand further across its home markets said a statement from the company. GetSwift will be critical for features including efficient dispatching of drivers and managing thousands of orders in real time it said. Jithin Sreekumar founder and chief executive officer of Foodkart said: We have tested the software for over three months and are impressed with GetSwift s comprehensive functionality. It s what we have sought for the longest time - a delivery management system that is easy to use for our drivers and clients and accurate for our operational team. The order management is very efficient he added. b...
Al Mulla Group a leading diversified privately-held business group based in Kuwait has signed an partnership agreement with China s Xuzhou Construction Machinery Group (XCMG). XCMG offers a full range of portfolios in the construction machinery industry with complete integrated solutions for all construction projects including civil and commercial buildings infrastructure mining and roads. It is ranked 65th in the list of China s Top 500 Companies 44th in the list of China s Top 100 Manufacturing Enterprises and fourth in the list of China s Top 100 Machinery Manufacturers. A major regional player with operations in 8 countries Al Mulla said as per tthe deal one of its subsidiaries Gulf Trading Group will be the sole distributor of all its products and services in Kuwait. The agreement was signed by Group CEO Talal Anwar Al Mulla in the presence of Dr. Jiansen LIU Vice-President of XCMG and C...
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Al Mulla Group a leading diversified privately-held business group based in Kuwait has signed an partnership agreement with China s Xuzhou Construction Machinery Group (XCMG). XCMG offers a full range of portfolios in the construction machinery industry with complete integrated solutions for all construction projects including civil and commercial buildings infrastructure mining and roads. It is ranked 65th in the list of China s Top 500 Companies 44th in the list of China s Top 100 Manufacturing Enterprises and fourth in the list of China s Top 100 Machinery Manufacturers. A major regional player with operations in 8 countries Al Mulla said as per tthe deal one of its subsidiaries Gulf Trading Group will be the sole distributor of all its products and services in Kuwait. The agreement was signed by Group CEO Talal Anwar Al Mulla in the presence of Dr. Jiansen LIU Vice-President of XCMG and C...
Egypt-based DP World Sokhna a part of DP World s international network recently entered into a trilateral partnership with the China State Construction Engineering Corporation (CSCEC) and the China Ocean Shipping Company (Cosco) to serve as the hub for all construction material imports needed to build the central business and financial district of Egypt s new administrative capital. As part of the agreement CSCEC the largest construction conglomerate in China and the company in charge of developing the central business and financial district in the new capital will benefit from Sokhna s proximity to the new capital and its advanced road and rail links in addition the Port s strategic location just below the southern entrance to the Suez Canal on the Red Sea a key gateway for Asia Europe and other international markets said a statement. DP World Sokhna already has a dedicated facility for catering existing and future...
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Egypt-based DP World Sokhna a part of DP World s international network recently entered into a trilateral partnership with the China State Construction Engineering Corporation (CSCEC) and the China Ocean Shipping Company (Cosco) to serve as the hub for all construction material imports needed to build the central business and financial district of Egypt s new administrative capital. As part of the agreement CSCEC the largest construction conglomerate in China and the company in charge of developing the central business and financial district in the new capital will benefit from Sokhna s proximity to the new capital and its advanced road and rail links in addition the Port s strategic location just below the southern entrance to the Suez Canal on the Red Sea a key gateway for Asia Europe and other international markets said a statement. DP World Sokhna already has a dedicated facility for catering existing and future...
Cushman & Wakefield a global commercial real estate services company will be taking part in the 12th annual Bahrain International Property Exhibition and Forum (Bipex) which kicks off on December 7. The three-day event is being held under the patronage of Shaikh Khalid bin Abdulla Al Khalifa Deputy Prime Minister Bahrain at the Bahrain International Exhibition & Convention Center. A key highlight of this year s Bipex is a two-day conference which includes 7 in-depth sessions panels and practical seminars. Cushman & Wakefield s General Manager and Head of Middle East Edd Brookes will be moderating the session on Sustainability: challenges and opportunities in sustainable development and construction . Adam Stewart Partner - Head of Valuation Advisory Middle East at Cushman & Wakefield will be a panelist during the session joined by Reem Al Mahroos Senior Associate (Real estat...
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Cushman & Wakefield a global commercial real estate services company will be taking part in the 12th annual Bahrain International Property Exhibition and Forum (Bipex) which kicks off on December 7. The three-day event is being held under the patronage of Shaikh Khalid bin Abdulla Al Khalifa Deputy Prime Minister Bahrain at the Bahrain International Exhibition & Convention Center. A key highlight of this year s Bipex is a two-day conference which includes 7 in-depth sessions panels and practical seminars. Cushman & Wakefield s General Manager and Head of Middle East Edd Brookes will be moderating the session on Sustainability: challenges and opportunities in sustainable development and construction . Adam Stewart Partner - Head of Valuation Advisory Middle East at Cushman & Wakefield will be a panelist during the session joined by Reem Al Mahroos Senior Associate (Real estat...
Saudi Arabia s construction industry witnessed solid growth in the third quarter buoyed by SR47.8 billion ( 12.7 billion) worth of awarded contracts according to a report by the US-Saudi Arabian Business Council (USSABC). These awarded contracts during Q3 19 continued the trend seen thus far in 2019 as the oil and gas sector led all other sectors followed by the real estate sector. This quarter however witnessed the industrial sector amass the third highest value of awarded contracts after a relatively slow place during the two previous quarters. These three sectors accounted for 80 per cent of all contract awards during the quarter. Other notable contributing sectors include urban development water and transportation stated the Council in its report. With the level of construction activities continuing at an accelerated rate thus far in 2019 USSABC said the value of awarded contracts is on track to cross the SR2...
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Saudi Arabia s construction industry witnessed solid growth in the third quarter buoyed by SR47.8 billion ( 12.7 billion) worth of awarded contracts according to a report by the US-Saudi Arabian Business Council (USSABC). These awarded contracts during Q3 19 continued the trend seen thus far in 2019 as the oil and gas sector led all other sectors followed by the real estate sector. This quarter however witnessed the industrial sector amass the third highest value of awarded contracts after a relatively slow place during the two previous quarters. These three sectors accounted for 80 per cent of all contract awards during the quarter. Other notable contributing sectors include urban development water and transportation stated the Council in its report. With the level of construction activities continuing at an accelerated rate thus far in 2019 USSABC said the value of awarded contracts is on track to cross the SR2...
Saudi-based Umm Alqura Company for Development and Construction (UAQ) has joined forces with Alinma Investment a unit of kingdom s leading bank Alinma to launch a real estate development fund with an investment value of over SR17 billion ( 4.53 billion) mainly focused on properties in Makkah. The new Makkah Real Estate Development Fund is being invested in seven hotel towers and two commercial complexes that will be developed within the King Abdul Aziz Road (KAAR) project in the Saudi city said a statement from UAQ. One of the most significant urban development projects in Makkah region it offers multiple and varied options including housing and shopping and provides easy mobility and means of transportation between the project facilities and the central area of the main mosque it added. CEO Yasser Abuateek while expressing pride on the launch of the Alinma Makkah Development Funds said: This strategic agreement ...
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Saudi-based Umm Alqura Company for Development and Construction (UAQ) has joined forces with Alinma Investment a unit of kingdom s leading bank Alinma to launch a real estate development fund with an investment value of over SR17 billion ( 4.53 billion) mainly focused on properties in Makkah. The new Makkah Real Estate Development Fund is being invested in seven hotel towers and two commercial complexes that will be developed within the King Abdul Aziz Road (KAAR) project in the Saudi city said a statement from UAQ. One of the most significant urban development projects in Makkah region it offers multiple and varied options including housing and shopping and provides easy mobility and means of transportation between the project facilities and the central area of the main mosque it added. CEO Yasser Abuateek while expressing pride on the launch of the Alinma Makkah Development Funds said: This strategic agreement ...
Shipa Freight a leading online freight platform was named Logistics Technology Platform of the Year at the recent 2019 Transport & Logistics Middle East Awards in Dubai UAE. The award presented by Transport & Logistics Middle East (TLME) recognised the platform that offers the best solutions through technologies such as automation smart freight forwarding and data analytics to increase logistics speed efficiency and safety while lowering costs in operations and systems said a statement. TLME said Shipa Freight has built a reputation in being able to integrate seamlessly into the wider chain and simplify operations holistically. TLME CEO Sam Khan said: This is a major award and one that had very very tough competition therefore the team at Shipa Freight have done themselves proud in securing this big win. Available in 100 countries Shipa Freight helps businesses ...
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Shipa Freight a leading online freight platform was named Logistics Technology Platform of the Year at the recent 2019 Transport & Logistics Middle East Awards in Dubai UAE. The award presented by Transport & Logistics Middle East (TLME) recognised the platform that offers the best solutions through technologies such as automation smart freight forwarding and data analytics to increase logistics speed efficiency and safety while lowering costs in operations and systems said a statement. TLME said Shipa Freight has built a reputation in being able to integrate seamlessly into the wider chain and simplify operations holistically. TLME CEO Sam Khan said: This is a major award and one that had very very tough competition therefore the team at Shipa Freight have done themselves proud in securing this big win. Available in 100 countries Shipa Freight helps businesses ...
Dubai has been ranked among the top Construction Mega Cities (those having a pipeline of projects worth over 30 billion) for 2019 along with London and New York in a list compiled by GlobalData a leading data and analytics company. GlobalData has been tracking large-scale construction projects in all sectors and following a recent assessment of project pipelines in major cities worldwide it has compiled a listing of 50 Construction Mega Cities for 2019. Dubai dominates the 2019 list with total project values amounting to 611.2 billion ahead of London which comes in the second place ( 342.9 billion) and New York in third ( 285.2 billion) while Moscow slipped to fifth place ( 201.4 billion) when compared to the 2018 rankings. The combined value of the project pipelines in these cities stands at 5.3 trillion and includes over 8 200 projects at various stages of development from announced to execution. ...
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Dubai has been ranked among the top Construction Mega Cities (those having a pipeline of projects worth over 30 billion) for 2019 along with London and New York in a list compiled by GlobalData a leading data and analytics company. GlobalData has been tracking large-scale construction projects in all sectors and following a recent assessment of project pipelines in major cities worldwide it has compiled a listing of 50 Construction Mega Cities for 2019. Dubai dominates the 2019 list with total project values amounting to 611.2 billion ahead of London which comes in the second place ( 342.9 billion) and New York in third ( 285.2 billion) while Moscow slipped to fifth place ( 201.4 billion) when compared to the 2018 rankings. The combined value of the project pipelines in these cities stands at 5.3 trillion and includes over 8 200 projects at various stages of development from announced to execution. ...
The Bahrain Economic Development Board (EDB) the investment promotion agency for Bahrain has announced that Kerry Logistics Network one of Asia s largest third-party logistics provider has launched operations in the kingdom. The Hong Kong-headquartered company which manages 60 million sq ft of logistics facilities over 53 countries and territories investment in Bahrain is part of their regional footprint expansion plans to enhance access to key markets such as the Saudi market the Gulf s largest market said a statement. As well as access to Saudi Arabia and the opportunity to scale across the wider 1.5 trillion GCC markets Kerry Logistics cited the EDB as part of their decision-making process in launching operations in Bahrain. Raymond Cheng director Middle East and Africa (MEA) at Kerry Logistics said: Bahrain s access to the region is unrivalled as is the support we received f...
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The Bahrain Economic Development Board (EDB) the investment promotion agency for Bahrain has announced that Kerry Logistics Network one of Asia s largest third-party logistics provider has launched operations in the kingdom. The Hong Kong-headquartered company which manages 60 million sq ft of logistics facilities over 53 countries and territories investment in Bahrain is part of their regional footprint expansion plans to enhance access to key markets such as the Saudi market the Gulf s largest market said a statement. As well as access to Saudi Arabia and the opportunity to scale across the wider 1.5 trillion GCC markets Kerry Logistics cited the EDB as part of their decision-making process in launching operations in Bahrain. Raymond Cheng director Middle East and Africa (MEA) at Kerry Logistics said: Bahrain s access to the region is unrivalled as is the support we received f...
Unifeeder a fully-owned subsidiary of global trade enabler DP World has announced the acquisition of a 77 per cent stake in Singapore-based Feedertech Group a leading marine logistics provider. The deal which is expected to close in the first quarter (Q1) of 2020 is the latest step in DP World s vision to build end-to-end logistics capability to serve the needs of shipping lines and cargo owners. The acquisition of Feedertech will expand the company s feedering and short-sea product offering to multiple geographies. Feedertech operates two businesses; Feedertech which is an independent feedering service and Perma a regional shortsea network. Both operate in the same market and connect the fast-growing trade route of Asia to the Middle East via the Indian Subcontinent. Feedertech group calls at 50 ports generating a combined revenue of around 200 million from a diverse customer mix and transporting more than 600k TEUs annually. ...
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Unifeeder a fully-owned subsidiary of global trade enabler DP World has announced the acquisition of a 77 per cent stake in Singapore-based Feedertech Group a leading marine logistics provider. The deal which is expected to close in the first quarter (Q1) of 2020 is the latest step in DP World s vision to build end-to-end logistics capability to serve the needs of shipping lines and cargo owners. The acquisition of Feedertech will expand the company s feedering and short-sea product offering to multiple geographies. Feedertech operates two businesses; Feedertech which is an independent feedering service and Perma a regional shortsea network. Both operate in the same market and connect the fast-growing trade route of Asia to the Middle East via the Indian Subcontinent. Feedertech group calls at 50 ports generating a combined revenue of around 200 million from a diverse customer mix and transporting more than 600k TEUs annually. ...
Leading Turkish builder Limak has achieved a key milestone with the successful completion of the fabrication of 807 precast arch elements required for the inner roof of the new terminal at Kuwait International Airport. Constructed and assembled by Limak the design of the complex structure was undertaken by German-based firm Werner Sobek. Robert Bird Group a member of one of the largest Asia-based urban industrial and infrastructure consulting firms was part of the project along with Surbana Jurong Group which handled the roof s construction methodology. Limak Construction a part of leading Turkish conglomerate Limak Group said the project requires more than 1 million cu m of concrete and over 200 000 tonnes of structural steel procured locally. Following the precast arches work the post-tensioning and diaphragm slabs activities are ongoing at the project site. Precast installation is targeted to be completed ahead of sch...
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Leading Turkish builder Limak has achieved a key milestone with the successful completion of the fabrication of 807 precast arch elements required for the inner roof of the new terminal at Kuwait International Airport. Constructed and assembled by Limak the design of the complex structure was undertaken by German-based firm Werner Sobek. Robert Bird Group a member of one of the largest Asia-based urban industrial and infrastructure consulting firms was part of the project along with Surbana Jurong Group which handled the roof s construction methodology. Limak Construction a part of leading Turkish conglomerate Limak Group said the project requires more than 1 million cu m of concrete and over 200 000 tonnes of structural steel procured locally. Following the precast arches work the post-tensioning and diaphragm slabs activities are ongoing at the project site. Precast installation is targeted to be completed ahead of sch...
Saudi Real Estate Company (Al Akaria) one of the largest publicly-listed real estate developers on the Saudi stock exchange (Tadawul) has appointed Khalid Bin Sulaiman Al Jasser as its new chief executive officer replacing Kelvin Kwok. Kwok will continue to work as an advisor to board of directors chairman effective December 8 said Al Akaria in a statement to Saudi bourse Tadawul. Khalid Al Jasser has over 30 years of experience in the banking field during which he served as CEO and board member of AlBilad Bank and also of Arab Centres Company. He is currently the STCPay board chairman. A strategic player in the kingdom Al Akaria has worked on more than 32 residential retail and commercial projects. These include Akaria 1 the first commercial centre in the Middle East the Olaya Akaria Residential Complex the first closed residential complex in Saudi Arabia and The Plaza the first smart building in Saudi...
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Saudi Real Estate Company (Al Akaria) one of the largest publicly-listed real estate developers on the Saudi stock exchange (Tadawul) has appointed Khalid Bin Sulaiman Al Jasser as its new chief executive officer replacing Kelvin Kwok. Kwok will continue to work as an advisor to board of directors chairman effective December 8 said Al Akaria in a statement to Saudi bourse Tadawul. Khalid Al Jasser has over 30 years of experience in the banking field during which he served as CEO and board member of AlBilad Bank and also of Arab Centres Company. He is currently the STCPay board chairman. A strategic player in the kingdom Al Akaria has worked on more than 32 residential retail and commercial projects. These include Akaria 1 the first commercial centre in the Middle East the Olaya Akaria Residential Complex the first closed residential complex in Saudi Arabia and The Plaza the first smart building in Saudi...
The African logistics market has seen a steady growth between 2013 and 2018 accounting to a single digit CAGR during this period a report said. The report titled Africa Logistics and Warehousing Outlook to 2023- By Countries (South Africa Kenya Tanzania Uganda Nigeria Namibia and Botswana) Mode of Freight (Road Rail Air Sea and Pipeline) By End Users and by 3PL By Type of Warehouses by Ken Research provides a comprehensive analysis of the Logistics market of Africa. The report covers the overall size and future outlook of the freight forwarding and warehousing market along with a snap shot on the courier and parcels market along with a number of segments for each. The competitive landscape of the warehousing and freight forwarding segment is also present. The same has been concluded with analyst recommendations. Africa logistics market overview and size The continent is extremely...
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The African logistics market has seen a steady growth between 2013 and 2018 accounting to a single digit CAGR during this period a report said. The report titled Africa Logistics and Warehousing Outlook to 2023- By Countries (South Africa Kenya Tanzania Uganda Nigeria Namibia and Botswana) Mode of Freight (Road Rail Air Sea and Pipeline) By End Users and by 3PL By Type of Warehouses by Ken Research provides a comprehensive analysis of the Logistics market of Africa. The report covers the overall size and future outlook of the freight forwarding and warehousing market along with a snap shot on the courier and parcels market along with a number of segments for each. The competitive landscape of the warehousing and freight forwarding segment is also present. The same has been concluded with analyst recommendations. Africa logistics market overview and size The continent is extremely...
Entrepreneurial spirit and diversity and inclusion policies were recognised on day three of the Big 5 region s largest and most influential event for the construction industry in Dubai with the announcement of the winners of Women in Construction (WIC) Forum & Awards and the Start-up City Pitch Competition. As Middle East and Africa s largest and most important meeting place for the global construction community The Big 5 mega-event recognised those making a positive impact on the sector by fostering collaboration supporting best practices and provide effective solutions to today s industry challenges. The second edition of WIC Forum & Awards was a much-anticipated highlight of day aimed at addressing the need to reinvent gender balance diversity and inclusion (D&I) policies and best practices in the workplace while empowering women in the male-dominated construction sector. The packed-out audie...
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Entrepreneurial spirit and diversity and inclusion policies were recognised on day three of the Big 5 region s largest and most influential event for the construction industry in Dubai with the announcement of the winners of Women in Construction (WIC) Forum & Awards and the Start-up City Pitch Competition. As Middle East and Africa s largest and most important meeting place for the global construction community The Big 5 mega-event recognised those making a positive impact on the sector by fostering collaboration supporting best practices and provide effective solutions to today s industry challenges. The second edition of WIC Forum & Awards was a much-anticipated highlight of day aimed at addressing the need to reinvent gender balance diversity and inclusion (D&I) policies and best practices in the workplace while empowering women in the male-dominated construction sector. The packed-out audie...
The construction sector contributed an estimated 6.4 per cent to Dubai s GDP in 2018 according to new analysis released by Dubai Chamber of Commerce and Industry at a briefing organised for delegates attending the Big 5 exhibition. This trend expected to continue over the next two years said the analysis is based on recent data from BNC IMF Haver Analytics and Fitch Connect. Currently there are 4 792 current active projects in Dubai accounting for 42 per cent of the UAE s total. Other key growth drivers for Dubai s construction market include the emirate s strong economic fundamentals and diversification strategy steady increase in population and number of tourists sustained infrastructure investment over the medium term and major government investments in transportation. Most Expo 2020 related infrastructure projects are either under construction or completed while the majority of the con...
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The construction sector contributed an estimated 6.4 per cent to Dubai s GDP in 2018 according to new analysis released by Dubai Chamber of Commerce and Industry at a briefing organised for delegates attending the Big 5 exhibition. This trend expected to continue over the next two years said the analysis is based on recent data from BNC IMF Haver Analytics and Fitch Connect. Currently there are 4 792 current active projects in Dubai accounting for 42 per cent of the UAE s total. Other key growth drivers for Dubai s construction market include the emirate s strong economic fundamentals and diversification strategy steady increase in population and number of tourists sustained infrastructure investment over the medium term and major government investments in transportation. Most Expo 2020 related infrastructure projects are either under construction or completed while the majority of the con...
The UAE is leading from the front as the GCC is witnessing an unprecedented acceleration in e-commerce spending that has speeded up the pace of the regional cross-border logistics growth according to industry experts. Latest reports suggest that the global cross-border e-commerce logistics market is poised to grow by 24.10 billion until 2022 progressing at a CAGR of more than 8 per cent during the forecasted period 2018-2022. The value of the e-commerce sector in the UAE meanwhile is expected to reach 27.2 billion by 2020 according to a recent study by the World Economic Forum. Shailesh Dash chairman of Dubai-based Gulf Pinnacle Logistics (GPL) said: Cross-border e-commerce has definitely opened many doors for businesses to expand their audience and serve a larger pool of customers. The rise in disposable income the surge in digital literacy and increasing number of e-commerce players are f...
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The UAE is leading from the front as the GCC is witnessing an unprecedented acceleration in e-commerce spending that has speeded up the pace of the regional cross-border logistics growth according to industry experts. Latest reports suggest that the global cross-border e-commerce logistics market is poised to grow by 24.10 billion until 2022 progressing at a CAGR of more than 8 per cent during the forecasted period 2018-2022. The value of the e-commerce sector in the UAE meanwhile is expected to reach 27.2 billion by 2020 according to a recent study by the World Economic Forum. Shailesh Dash chairman of Dubai-based Gulf Pinnacle Logistics (GPL) said: Cross-border e-commerce has definitely opened many doors for businesses to expand their audience and serve a larger pool of customers. The rise in disposable income the surge in digital literacy and increasing number of e-commerce players are f...
Residential prices in Dubai have fallen by about 10 per cent since February said S&P Global Ratings in a new report adding that the real estate outlook remains weak in the fourth quarter as new supply hits the market. In the report titled Where Is The Dubai Real Estate Market Headed? published on RatingsDirect S&P Global Ratings address some of the questions investors have asked us about Dubai s real estate market and its prospects. We believe Expo 2020 just on the back of potential visitor flows to the emirate will ease temporary pressures on hotels and retailers. However it is unlikely to materially improve long-term conditions in the real estate sector said S&P Global Ratings credit analyst Sapna Jagtiani. We expect prices to remain under pressure during 2019-2020 and don t foresee a meaningful recovery in the near term due to the current supply-demand imbalance Jagtian...
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Residential prices in Dubai have fallen by about 10 per cent since February said S&P Global Ratings in a new report adding that the real estate outlook remains weak in the fourth quarter as new supply hits the market. In the report titled Where Is The Dubai Real Estate Market Headed? published on RatingsDirect S&P Global Ratings address some of the questions investors have asked us about Dubai s real estate market and its prospects. We believe Expo 2020 just on the back of potential visitor flows to the emirate will ease temporary pressures on hotels and retailers. However it is unlikely to materially improve long-term conditions in the real estate sector said S&P Global Ratings credit analyst Sapna Jagtiani. We expect prices to remain under pressure during 2019-2020 and don t foresee a meaningful recovery in the near term due to the current supply-demand imbalance Jagtian...
Korea-based machinery manufacturer Doosan Infracore has unveiled Concept-X a comprehensive construction control solution that can be used without human intervention. Concept X can be deployed to survey worksite topography via 3D drone scanning establish operational plans based on the topographical data and operate construction equipment such as excavators and wheel loaders. Concept-X realizes the construction site of the future by having all dangerous construction work performed solely by equipment leaving human personnel free to concentrate on more sophisticated analysis and management tasks. Although certain individual unmanned technologies have already been introduced in the field of construction machinery Doosan Infracore s introduction of unmanned automation technologies to the entire construction site operation process - ranging from surveying to the operations of construction equipment such as excavators and wheel loaders - ...
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Korea-based machinery manufacturer Doosan Infracore has unveiled Concept-X a comprehensive construction control solution that can be used without human intervention. Concept X can be deployed to survey worksite topography via 3D drone scanning establish operational plans based on the topographical data and operate construction equipment such as excavators and wheel loaders. Concept-X realizes the construction site of the future by having all dangerous construction work performed solely by equipment leaving human personnel free to concentrate on more sophisticated analysis and management tasks. Although certain individual unmanned technologies have already been introduced in the field of construction machinery Doosan Infracore s introduction of unmanned automation technologies to the entire construction site operation process - ranging from surveying to the operations of construction equipment such as excavators and wheel loaders - ...
Bloom Holding one of the UAE s foremost real estate holding companies has taken home the award for Best Technology in Real Estate by leading publication Forbes Middle East. The company was also recognised as one of The Top Real Estate Companies in the Middle East 2019 during the award ceremony held at JW Marquis Dubai. A subsidiary of National Holding Bloom said it was committed to building operating and investing in premium communities and enriching the lives of its customers through the development and management of real estate education and hospitality assets. A pioneer in developing mixed-used developments Bloom Holding has altered the way living spaces are designed thereby transforming the ethos and aesthetics of the Abu Dhabi real estate sector it added. Commenting on the win acting CEO Jeremy Lester said: We are thrilled to have won this prestigious award an...
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Bloom Holding one of the UAE s foremost real estate holding companies has taken home the award for Best Technology in Real Estate by leading publication Forbes Middle East. The company was also recognised as one of The Top Real Estate Companies in the Middle East 2019 during the award ceremony held at JW Marquis Dubai. A subsidiary of National Holding Bloom said it was committed to building operating and investing in premium communities and enriching the lives of its customers through the development and management of real estate education and hospitality assets. A pioneer in developing mixed-used developments Bloom Holding has altered the way living spaces are designed thereby transforming the ethos and aesthetics of the Abu Dhabi real estate sector it added. Commenting on the win acting CEO Jeremy Lester said: We are thrilled to have won this prestigious award an...
Oman Logistics Center (OLC) in collaboration with Ejaad the virtual collaborative platform where industry academia and government engage in applied research have successfully conducted a logistics-focused workshop for over 50 stakeholders. The workshop focused on Business Technology Mapping (BTM) a process that aims to identify technical challenges within selected areas and match them to fit-for-purpose and feasible technological solutions to help the companies participating said a statement. For the workshop the three areas selected were: cold chain management ports technology and e-commerce most notably last mile delivery all identified by the participating companies as requiring in-depth focus and technological support to enhance competitiveness and operational efficiency. Within these areas attendees jointly evaluated the technical challenges they face across energy efficiency and consumption preserv...
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Oman Logistics Center (OLC) in collaboration with Ejaad the virtual collaborative platform where industry academia and government engage in applied research have successfully conducted a logistics-focused workshop for over 50 stakeholders. The workshop focused on Business Technology Mapping (BTM) a process that aims to identify technical challenges within selected areas and match them to fit-for-purpose and feasible technological solutions to help the companies participating said a statement. For the workshop the three areas selected were: cold chain management ports technology and e-commerce most notably last mile delivery all identified by the participating companies as requiring in-depth focus and technological support to enhance competitiveness and operational efficiency. Within these areas attendees jointly evaluated the technical challenges they face across energy efficiency and consumption preserv...
Total construction and real estate industry deals worth 61.7 billion were announced globally for the third quarter (Q3) of 2019 according to the deals database of GlobalData a leading a data analytics and consulting company. The value marked an increase of 92.4 per cent over the previous quarter and a rise of 33.2 per cent when compared with the last four-quarter average of 46.68 billion. In terms of number of deals the sector saw a rise of 10.7 per cent over the last four-quarter average with 654 deals against the average of 591 deals. In value terms North America led the activity with deals worth 25.26 billion. Top deals The top five construction & real estate deals accounted for 29.8 per cent of the overall value during Q3 2019. The combined value of the top five construction & real estate deals stood at 18.39 billion against the overall value of 61.7 bil...
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Total construction and real estate industry deals worth 61.7 billion were announced globally for the third quarter (Q3) of 2019 according to the deals database of GlobalData a leading a data analytics and consulting company. The value marked an increase of 92.4 per cent over the previous quarter and a rise of 33.2 per cent when compared with the last four-quarter average of 46.68 billion. In terms of number of deals the sector saw a rise of 10.7 per cent over the last four-quarter average with 654 deals against the average of 591 deals. In value terms North America led the activity with deals worth 25.26 billion. Top deals The top five construction & real estate deals accounted for 29.8 per cent of the overall value during Q3 2019. The combined value of the top five construction & real estate deals stood at 18.39 billion against the overall value of 61.7 bil...
Dubai-based PH Real Estate said it has brokered the largest villa sale within Emirates Hills a luxury-gated community from Emaar Properties early this month. The 2 000-sq-m property which was sold for Dh41.2 million ( 11.2 million) represents the third highest real estate transaction in Dubai during the past six months said the top broker. Exclusively listed with PH Real Estate Brokers the luxurious villa sits atop 3 237 sq m of expertly landscaped property. Purchased by an Indian business man the villa s new owner hails from Morocco it stated. Home to some of the most wealthy individuals in Dubai Emirates Hills boasts private parks tranquil walking paths and the world-class 18-hole Montgomerie Championship Golf Course it added. CEO Myles Bush said these kinds of high-end transactions show confidence in Dubai s real estate market. PH Real Estate is delighted to once again have solidified such ...
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Dubai-based PH Real Estate said it has brokered the largest villa sale within Emirates Hills a luxury-gated community from Emaar Properties early this month. The 2 000-sq-m property which was sold for Dh41.2 million ( 11.2 million) represents the third highest real estate transaction in Dubai during the past six months said the top broker. Exclusively listed with PH Real Estate Brokers the luxurious villa sits atop 3 237 sq m of expertly landscaped property. Purchased by an Indian business man the villa s new owner hails from Morocco it stated. Home to some of the most wealthy individuals in Dubai Emirates Hills boasts private parks tranquil walking paths and the world-class 18-hole Montgomerie Championship Golf Course it added. CEO Myles Bush said these kinds of high-end transactions show confidence in Dubai s real estate market. PH Real Estate is delighted to once again have solidified such ...
The Middle East s largest construction event The Big 5 which kicks off on November 25 in Dubai will see the launch of its first Voice of the Construction Industry report on the opening day of the conference. The inaugural report which is based on a survey carried out by GRS Research & Strategy Middle East in conjunction with The Big 5 represents the views of 5 951 senior construction industry professionals based in 136 different countries making it the largest of its kind. The Voice of the Construction Industry Report will be unveiled at The Big 5 s invite-only CEO Forum a conference for 150 CEOs from the region s leading construction firms said the organisers dmg events. The responses have been segmented by business type seniority geographic location and company turnover allowing for a detailed analysis of the issues influencing each sector and how they are shaping the industry it stated. ...
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The Middle East s largest construction event The Big 5 which kicks off on November 25 in Dubai will see the launch of its first Voice of the Construction Industry report on the opening day of the conference. The inaugural report which is based on a survey carried out by GRS Research & Strategy Middle East in conjunction with The Big 5 represents the views of 5 951 senior construction industry professionals based in 136 different countries making it the largest of its kind. The Voice of the Construction Industry Report will be unveiled at The Big 5 s invite-only CEO Forum a conference for 150 CEOs from the region s leading construction firms said the organisers dmg events. The responses have been segmented by business type seniority geographic location and company turnover allowing for a detailed analysis of the issues influencing each sector and how they are shaping the industry it stated. ...
Director general of Dubai Customs Ahmed Mahboob Musabih made a field trip to the customs centres at the Dubai Logistics City (DLC) and Al Maktoum Cargo Center which operate under the Jebel Ali Customs Center Management and the passenger terminal at Al Maktoum International Airport. Musabih met with the employees working at the three centres and received detailed information from them about the latest updates of the operations and initiatives taking place in the centres and preparations ahead of the upcoming Expo 2020. Musabih highly appreciated the efforts taken by the employees to make the clients happier in fulfilment of the vision of the HH Sheikh Mohammed Bin Rashid Al Maktoum Vice President Prime Minister and Ruler of Dubai. He called on them to keep up the good work and to always help advance the customs services which help provide for more investment and trade activity in the emirate. Musabih pointed out tha...
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Director general of Dubai Customs Ahmed Mahboob Musabih made a field trip to the customs centres at the Dubai Logistics City (DLC) and Al Maktoum Cargo Center which operate under the Jebel Ali Customs Center Management and the passenger terminal at Al Maktoum International Airport. Musabih met with the employees working at the three centres and received detailed information from them about the latest updates of the operations and initiatives taking place in the centres and preparations ahead of the upcoming Expo 2020. Musabih highly appreciated the efforts taken by the employees to make the clients happier in fulfilment of the vision of the HH Sheikh Mohammed Bin Rashid Al Maktoum Vice President Prime Minister and Ruler of Dubai. He called on them to keep up the good work and to always help advance the customs services which help provide for more investment and trade activity in the emirate. Musabih pointed out tha...
The Saudi Logistics Hub a government initiative mandated to support the growth of the country s logistics sector recently held its first global roadshow in the UAE in collaboration with the National Association of Freight and Logistics (NAFL). Numerous business leaders from the logistics sector attended the event held on November 3 at the Dubai International Financial Centre (DIFC) in Dubai UAE and learned about investment opportunities resulting from Saudi Arabia s latest initiatives. In 2018 the UAE was Saudi Arabia s sixth-largest export market and its third-largest import market said a statement. Non-oil exchange between the two countries reached 29.2 billion in 2018 a surge of 35 per cent over 2017 reflecting the strength of the strategic partnership and the unity of visions between the two countries. While the UAE has consolidated its status as a logistical hub for the Middle East Saudi...
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The Saudi Logistics Hub a government initiative mandated to support the growth of the country s logistics sector recently held its first global roadshow in the UAE in collaboration with the National Association of Freight and Logistics (NAFL). Numerous business leaders from the logistics sector attended the event held on November 3 at the Dubai International Financial Centre (DIFC) in Dubai UAE and learned about investment opportunities resulting from Saudi Arabia s latest initiatives. In 2018 the UAE was Saudi Arabia s sixth-largest export market and its third-largest import market said a statement. Non-oil exchange between the two countries reached 29.2 billion in 2018 a surge of 35 per cent over 2017 reflecting the strength of the strategic partnership and the unity of visions between the two countries. While the UAE has consolidated its status as a logistical hub for the Middle East Saudi...
The third edition of DecoBuild 2019 a largest of its kind exhibition in the UAE covering major sectors of housing building materials decoration and engineering consultancy kicked off in Dubai today (November 6). Organised by the Mohammed Bin Rashid Housing Establishment (MBRHE) the event has attracted 58 leading companies including manufacturers contractors and construction experts from public and private sectors. The four-day expo will showcase the latest regional and international developments in the construction architecture and design sectors. It will offer attractive and competitive deals including discounts and unique designs within the limits of grants or loans obtained by Emiratis benefiting from the housing support in the country. The three-day exhibition was inaugurated by Sultan Butti Bin Mejren Director General of Du...
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The third edition of DecoBuild 2019 a largest of its kind exhibition in the UAE covering major sectors of housing building materials decoration and engineering consultancy kicked off in Dubai today (November 6). Organised by the Mohammed Bin Rashid Housing Establishment (MBRHE) the event has attracted 58 leading companies including manufacturers contractors and construction experts from public and private sectors. The four-day expo will showcase the latest regional and international developments in the construction architecture and design sectors. It will offer attractive and competitive deals including discounts and unique designs within the limits of grants or loans obtained by Emiratis benefiting from the housing support in the country. The three-day exhibition was inaugurated by Sultan Butti Bin Mejren Director General of Du...
The UAE s National Association of Freight and Logistics (NAFL) has announced that it has re-elected Nadia Abdul Aziz as its president for a second term. Ahmad Abdul Razeq from Maltras Al Ghaith Group has been named Vice President. The first association of freight logistics service providers to be established in the Middle East NAFL was founded in 1992 as mandated by the Government of Dubai to bring together the increasing number of freight and logistics service providers. As the first Emirati to head NAFL Abdul Aziz will lead the association s efforts to enhance the performance and competitiveness of the UAE s logistics sector with the aim of boosting its contribution to the country s economy said the statement from top logistics body. She will also represent the UAE to the International Federation of Freight Forwarders Associations (FIATA). /...
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The UAE s National Association of Freight and Logistics (NAFL) has announced that it has re-elected Nadia Abdul Aziz as its president for a second term. Ahmad Abdul Razeq from Maltras Al Ghaith Group has been named Vice President. The first association of freight logistics service providers to be established in the Middle East NAFL was founded in 1992 as mandated by the Government of Dubai to bring together the increasing number of freight and logistics service providers. As the first Emirati to head NAFL Abdul Aziz will lead the association s efforts to enhance the performance and competitiveness of the UAE s logistics sector with the aim of boosting its contribution to the country s economy said the statement from top logistics body. She will also represent the UAE to the International Federation of Freight Forwarders Associations (FIATA). /...
The South American nation of Peru has broken ground on its country pavilion for the Dubai Expo 2020 being set up under the theme Timeless Always Peru. The pavilion will feature a unique architectural design that evokes the path that the nation has travelled throughout its existence telling stories of 10 000 years said senior officials at the ground-breaking ceremony. The event was led by Edgar Vásquez the Minister of Foreign Trade and Tourism of Peru Luis Torres the Executive President of the Commission for the Promotion of Peru for Export and Tourism (PROMPERÚ) Alvaro Silva Santisteban Director of the Trade and Tourism of Peru in the UAE and Deputy Commissioner General of Peru for Expo 2020. Rising in the Mobility District will bring to life the country s cultural diversity and ancient wisdom that still surprise the world. /di...
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The South American nation of Peru has broken ground on its country pavilion for the Dubai Expo 2020 being set up under the theme Timeless Always Peru. The pavilion will feature a unique architectural design that evokes the path that the nation has travelled throughout its existence telling stories of 10 000 years said senior officials at the ground-breaking ceremony. The event was led by Edgar Vásquez the Minister of Foreign Trade and Tourism of Peru Luis Torres the Executive President of the Commission for the Promotion of Peru for Export and Tourism (PROMPERÚ) Alvaro Silva Santisteban Director of the Trade and Tourism of Peru in the UAE and Deputy Commissioner General of Peru for Expo 2020. Rising in the Mobility District will bring to life the country s cultural diversity and ancient wisdom that still surprise the world. /di...
Total construction & real estate industry deals for September 2019 worth 21.7 billion were announced globally according to the deals database of GlobalData a leading data analytics and consulting company. The value marked a decrease of 5.7 per cent over the previous month and a rise of 44.2 per cent when compared with the last 12-month average of 15.06 billion. In terms of number of deals the sector saw a drop of 4.4 per cent over the last 12-month average with 194 deals against the average of 203 deals. In value terms North America led the activity with deals worth 9.63 billion. Top deals The top five construction & real estate deals accounted for 60.5 per cent of the overall value during September 2019. The combined value of the top five construction & real estate deals stood at 13.13 billion against the overall value of 21.7 billion recorded for the m...
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Total construction & real estate industry deals for September 2019 worth 21.7 billion were announced globally according to the deals database of GlobalData a leading data analytics and consulting company. The value marked a decrease of 5.7 per cent over the previous month and a rise of 44.2 per cent when compared with the last 12-month average of 15.06 billion. In terms of number of deals the sector saw a drop of 4.4 per cent over the last 12-month average with 194 deals against the average of 203 deals. In value terms North America led the activity with deals worth 9.63 billion. Top deals The top five construction & real estate deals accounted for 60.5 per cent of the overall value during September 2019. The combined value of the top five construction & real estate deals stood at 13.13 billion against the overall value of 21.7 billion recorded for the m...
Sharjah recorded 14 974 real estate transactions worth Dh4.2 billion ( 1.14 billion) during the third quarter (Q3) of 2019 as against 11 393 property deals during Q3 2018 said the Sharjah Real Estate Registration Department (SRERD). Figures reflect a significant rise of 31.4 per cent in the number of transactions recorded in the third quarter of 2019 as compared to the same period in 2018 Abdulaziz Ahmed Al Shamsi director-general of SRERD was quoted as saying by state news agency Wam . The real estate transactions included 646 in sales 1 453 in initial sale contracts and 210 in evaluations. These are added to 694 mortgages transactions which are valued at about Dh1.8 billion he added. Most of the real estate transactions were recorded in Sharjah city branch which constituted 96.9 per cent of the total transaction value recorded in the third quarter of 2019. Most of the Sale...
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Sharjah recorded 14 974 real estate transactions worth Dh4.2 billion ( 1.14 billion) during the third quarter (Q3) of 2019 as against 11 393 property deals during Q3 2018 said the Sharjah Real Estate Registration Department (SRERD). Figures reflect a significant rise of 31.4 per cent in the number of transactions recorded in the third quarter of 2019 as compared to the same period in 2018 Abdulaziz Ahmed Al Shamsi director-general of SRERD was quoted as saying by state news agency Wam . The real estate transactions included 646 in sales 1 453 in initial sale contracts and 210 in evaluations. These are added to 694 mortgages transactions which are valued at about Dh1.8 billion he added. Most of the real estate transactions were recorded in Sharjah city branch which constituted 96.9 per cent of the total transaction value recorded in the third quarter of 2019. Most of the Sale...
Tilal Properties a leading UAE-based real estate development and investment company said it expects to witness spiraling demand for real estate in Sharjah next year and residential units in particular in light of the growing business momentum which requires more manpower at multiple levels. This is coupled with the recently-enacted government legislation which aims to attract more talent and expertise to the UAE and will ultimately reflect positively on real estate demand stated the developer. A premier developer of residential complexes and freehold projects Tilal Properties is a joint venture between Sharjah Asset Management and Iskan Real Estate Development. Tilal Properties said Sharjah represented an investment-conducive business-friendly destination for many investors from all over the world for its robust infrastructure streamlined procedures in addition ...
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Tilal Properties a leading UAE-based real estate development and investment company said it expects to witness spiraling demand for real estate in Sharjah next year and residential units in particular in light of the growing business momentum which requires more manpower at multiple levels. This is coupled with the recently-enacted government legislation which aims to attract more talent and expertise to the UAE and will ultimately reflect positively on real estate demand stated the developer. A premier developer of residential complexes and freehold projects Tilal Properties is a joint venture between Sharjah Asset Management and Iskan Real Estate Development. Tilal Properties said Sharjah represented an investment-conducive business-friendly destination for many investors from all over the world for its robust infrastructure streamlined procedures in addition ...
Agility a leading global logistics provider together with its digital innovation arm Shipa has signed a memorandum of understanding (MoU) with JD Logistics the supply chain and fulfilment arm of China s largest retailer JD.com to collaborate on logistics in fast-growing e-commerce markets. Agility and JD Logistics will work together to make it easier for consumers in some of the world s fastest growing markets to get access to JD s product range and products offered by JD Logistics merchant partners said a statement. The new agreement focuses on cross-border logistics and procurement and retail. It covers markets in Southeast Asia the Middle East Europe and Africa it said. In Southeast Asia Agility will act as a cross-border business-to-consumer (B2C) trunk service provider utilising its strong air and ocean freight capacity and will also act a local business-to-business (B2B) warehouse provider. ...
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Agility a leading global logistics provider together with its digital innovation arm Shipa has signed a memorandum of understanding (MoU) with JD Logistics the supply chain and fulfilment arm of China s largest retailer JD.com to collaborate on logistics in fast-growing e-commerce markets. Agility and JD Logistics will work together to make it easier for consumers in some of the world s fastest growing markets to get access to JD s product range and products offered by JD Logistics merchant partners said a statement. The new agreement focuses on cross-border logistics and procurement and retail. It covers markets in Southeast Asia the Middle East Europe and Africa it said. In Southeast Asia Agility will act as a cross-border business-to-consumer (B2C) trunk service provider utilising its strong air and ocean freight capacity and will also act a local business-to-business (B2B) warehouse provider. ...
Etihad Secure Logistics Services (ESL) a wholly owned subsidiary of Etihad Airways and a member of its Cargo and Logistics Services portfolio said it is increasing its vehicle fleet and expanding its services across the UAE capital citing demand from Abu Dhabi s government diplomatic and private sectors. The valuables management and logistics operator announced the addition of three state-of-the-art armoured vehicles to its fleet during the Jewellery & Watch Show Abu Dhabi which is taking place at the Abu Dhabi National Exhibition Centre (Adnec) until October 30. Vince Hampton managing director Etihad Secure Logistics said: The premium valuables and cash logistics sector in the UAE is a natural focus for Etihad Secure Logistics and this strategic fleet growth adds 30 per cent more capacity while also providing additional security features and services to our expanding portfolio of loyal clients. T...
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Etihad Secure Logistics Services (ESL) a wholly owned subsidiary of Etihad Airways and a member of its Cargo and Logistics Services portfolio said it is increasing its vehicle fleet and expanding its services across the UAE capital citing demand from Abu Dhabi s government diplomatic and private sectors. The valuables management and logistics operator announced the addition of three state-of-the-art armoured vehicles to its fleet during the Jewellery & Watch Show Abu Dhabi which is taking place at the Abu Dhabi National Exhibition Centre (Adnec) until October 30. Vince Hampton managing director Etihad Secure Logistics said: The premium valuables and cash logistics sector in the UAE is a natural focus for Etihad Secure Logistics and this strategic fleet growth adds 30 per cent more capacity while also providing additional security features and services to our expanding portfolio of loyal clients. T...
Low-cost properties are driving transactions in the Dubai real estate market in 2019 according to statistics from Data Finder the real estate insights and data platform under the Property Finder Group. Dubai clocked in 18 858 transactions for properties worth up to Dh1.5 million ( 408 319) each from January until September 30 this year it stated. Of these transactions off-plan accounted for 10 989 deals and the secondary market registered 7 869 deals it added. This trend is a continuation from last year when 17 009 properties worth up to Dh1.5 million each were transacted in Dubai in the comparable period. This indicates that Dubai real estate is no longer only a playground for the wealthy but has something to offer the budget-conscious buyer in equal measure. The softening in house prices is steadily making Dubai ...
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Low-cost properties are driving transactions in the Dubai real estate market in 2019 according to statistics from Data Finder the real estate insights and data platform under the Property Finder Group. Dubai clocked in 18 858 transactions for properties worth up to Dh1.5 million ( 408 319) each from January until September 30 this year it stated. Of these transactions off-plan accounted for 10 989 deals and the secondary market registered 7 869 deals it added. This trend is a continuation from last year when 17 009 properties worth up to Dh1.5 million each were transacted in Dubai in the comparable period. This indicates that Dubai real estate is no longer only a playground for the wealthy but has something to offer the budget-conscious buyer in equal measure. The softening in house prices is steadily making Dubai ...
Dubai recently launched the World Logistics Passport and Customs World a subsidiary of the Ports Customs and Free Zone Corporation (PCFC) aimed to expand the role of leading initiatives and raising awareness among businesses. The World Logistics Passport offers a set of unique operational and financial advantages for businesses and shipping companies by connecting government entities including Dubai Customs and Dubai Trade with logistics service providers like DP World and Dnata and facilitating commercial transactions among concerned bodies in Dubai said a statement. PCFC represented by Customs World signed a trade agreement with Vietnam during the UAE delegation s visit to Vietnam headed by Sultan bin Saeed Al Mansouri the UAE Minister of Economy to attend the UAE-Vietnam Trade and Investment Week in Hanoi and Ho Chi Minh it said. The agreement will help enhance mutual trade and facilitate movement of goods and commo...
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Dubai recently launched the World Logistics Passport and Customs World a subsidiary of the Ports Customs and Free Zone Corporation (PCFC) aimed to expand the role of leading initiatives and raising awareness among businesses. The World Logistics Passport offers a set of unique operational and financial advantages for businesses and shipping companies by connecting government entities including Dubai Customs and Dubai Trade with logistics service providers like DP World and Dnata and facilitating commercial transactions among concerned bodies in Dubai said a statement. PCFC represented by Customs World signed a trade agreement with Vietnam during the UAE delegation s visit to Vietnam headed by Sultan bin Saeed Al Mansouri the UAE Minister of Economy to attend the UAE-Vietnam Trade and Investment Week in Hanoi and Ho Chi Minh it said. The agreement will help enhance mutual trade and facilitate movement of goods and commo...
GAC Dubai a leading provider of shipping logistics and marine services for the second consecutive year has won the FMCG Logistics Provider of the Year award at the Logistics and Transport Awards. The accolade recognises the company s continuing excellence and innovation in keeping up with growing demand for the fast moving consumer goods (FMCG) sector covering food and beverages retail and more said a statement from the company. The win recognises GAC Dubai s expertise experience service offering and technology deployed in providing seamless flexible and efficient supply chain management solutions to the sector. Neil McMaster general manager of contract logistics for GAC Dubai accepted the award at the ceremony held at Sofitel the Palm in Dubai UAE. McMaster said: Once again we are delighted that our efforts and initiatives to meet the needs for speed and accuracy of fast-movin...
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GAC Dubai a leading provider of shipping logistics and marine services for the second consecutive year has won the FMCG Logistics Provider of the Year award at the Logistics and Transport Awards. The accolade recognises the company s continuing excellence and innovation in keeping up with growing demand for the fast moving consumer goods (FMCG) sector covering food and beverages retail and more said a statement from the company. The win recognises GAC Dubai s expertise experience service offering and technology deployed in providing seamless flexible and efficient supply chain management solutions to the sector. Neil McMaster general manager of contract logistics for GAC Dubai accepted the award at the ceremony held at Sofitel the Palm in Dubai UAE. McMaster said: Once again we are delighted that our efforts and initiatives to meet the needs for speed and accuracy of fast-movin...
Arabtec Holding a leading contractor for social and economic infrastructure has announced that the chief executive officer of its construction unit Boyd Merrett has stepped down from his post. Following this the Group Chief Operating Officer Wail Farsakh has been appointed as the new chief executive officer for Arabtec Construction until further notice.- TradeArabia News Service ...
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Arabtec Holding a leading contractor for social and economic infrastructure has announced that the chief executive officer of its construction unit Boyd Merrett has stepped down from his post. Following this the Group Chief Operating Officer Wail Farsakh has been appointed as the new chief executive officer for Arabtec Construction until further notice.- TradeArabia News Service ...
Bentley Systems the leading global provider of comprehensive software and digital twin cloud services for advancing the design construction and operations of infrastructure has partnered with Topcon Positioning Systems a world leader in positioning technology for the survey and construction industries to launch a new joint venture company. Announcing the launch the duo said the new firm Digital Construction Works will play a vital role in closing the constructioneering advancement gap. It is now open for business with a full global staff of digital construction experts who have been contributed by Bentley Systems and Topcon respectively. Digital Construction Works will be providing digital automation integration and twinning services around a portfolio of fit-for-purpose software and cloud services from Topcon Bentley and other software vendors to realize the breakthrough potential of constructioneering for industrializing constru...
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Bentley Systems the leading global provider of comprehensive software and digital twin cloud services for advancing the design construction and operations of infrastructure has partnered with Topcon Positioning Systems a world leader in positioning technology for the survey and construction industries to launch a new joint venture company. Announcing the launch the duo said the new firm Digital Construction Works will play a vital role in closing the constructioneering advancement gap. It is now open for business with a full global staff of digital construction experts who have been contributed by Bentley Systems and Topcon respectively. Digital Construction Works will be providing digital automation integration and twinning services around a portfolio of fit-for-purpose software and cloud services from Topcon Bentley and other software vendors to realize the breakthrough potential of constructioneering for industrializing constru...
Investcorp a leading global provider and manager of alternative investment products has announced the completion of its third UK Industrial and Logistics Programme (UKIL III) following its take over of a 16-million ( 18 million) fulfilment centre in Leeds. The UKIL III comprises 1 million sq ft of industrial and logistics assets across 10 single-let industrial properties. The assets which are located in St Helens Livingston Glasgow Manchester Birmingham and Leeds were purchased across six separate transactions for a combined value of over 80 million. Since June 2017 Investcorp has acquired industrial and logistics assets in the UK with a value of over 200 million and with a combined area of approximately 2.8 million sq ft across 28 assets. In combination with four real estate investments in Germany the Bahrain-based group has grown its total European real estate assets under management (AUM) to over &euro...
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Investcorp a leading global provider and manager of alternative investment products has announced the completion of its third UK Industrial and Logistics Programme (UKIL III) following its take over of a 16-million ( 18 million) fulfilment centre in Leeds. The UKIL III comprises 1 million sq ft of industrial and logistics assets across 10 single-let industrial properties. The assets which are located in St Helens Livingston Glasgow Manchester Birmingham and Leeds were purchased across six separate transactions for a combined value of over 80 million. Since June 2017 Investcorp has acquired industrial and logistics assets in the UK with a value of over 200 million and with a combined area of approximately 2.8 million sq ft across 28 assets. In combination with four real estate investments in Germany the Bahrain-based group has grown its total European real estate assets under management (AUM) to over &euro...
Dubai-based global operator of shipping terminals DP World inaugurated its Kigali Logistics Platform in the presence of President of the Republic of Rwanda Paul Kagame and DP World chairman and CEO Sultan Ahmed Bin Sulayem. The facility which has been operational since September 2018 in test mode has an annual capacity of 50 000 twenty-foot equivalent unit (TEUs) said a statement from the company. When operating at full capacity it has the potential to save Rwandan businesses up to 50 million a year in logistics costs it said. Since the commencement of its operations in the Rwandan capital last year Kigali Logistics Platform has reduced truck-turnaround time which used to be an average of 10-14 days to just three days it added. Kigali Logistics Platform serves as a gateway to the heart of Africa connecting Rwanda to neighbouring countries including Democratic Republic of Congo Burundi Uganda Tanzania and Kenya...
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Dubai-based global operator of shipping terminals DP World inaugurated its Kigali Logistics Platform in the presence of President of the Republic of Rwanda Paul Kagame and DP World chairman and CEO Sultan Ahmed Bin Sulayem. The facility which has been operational since September 2018 in test mode has an annual capacity of 50 000 twenty-foot equivalent unit (TEUs) said a statement from the company. When operating at full capacity it has the potential to save Rwandan businesses up to 50 million a year in logistics costs it said. Since the commencement of its operations in the Rwandan capital last year Kigali Logistics Platform has reduced truck-turnaround time which used to be an average of 10-14 days to just three days it added. Kigali Logistics Platform serves as a gateway to the heart of Africa connecting Rwanda to neighbouring countries including Democratic Republic of Congo Burundi Uganda Tanzania and Kenya...
The value of traded real estate contracts across Oman during September stood at more than RO173.3 million ( 449 million) while the collected fees amounted to over RO6.07 million ( 15.7 million) reported Oman News Agency citing a senior official. The real estate activity involved 33 665 transactions that included sale grant inheritance exchange mortgage and mortgage redemption usufruct and division transactions stated Abdullah bin Salim al-Mukhaini Secretary of the Real Estate Registry at the Ministry of Housing. Al Mukhaini said the total value of sale contracts stood at over RO82 million through 5 058 sale transactions at the level of the sultanate s governorates while the fees collected hit over RO3.16 million said the senior official. Among the governorates the North Al Batinah recorded the highest number of sale contracts in September hitting 1 106 he added. ...
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The value of traded real estate contracts across Oman during September stood at more than RO173.3 million ( 449 million) while the collected fees amounted to over RO6.07 million ( 15.7 million) reported Oman News Agency citing a senior official. The real estate activity involved 33 665 transactions that included sale grant inheritance exchange mortgage and mortgage redemption usufruct and division transactions stated Abdullah bin Salim al-Mukhaini Secretary of the Real Estate Registry at the Ministry of Housing. Al Mukhaini said the total value of sale contracts stood at over RO82 million through 5 058 sale transactions at the level of the sultanate s governorates while the fees collected hit over RO3.16 million said the senior official. Among the governorates the North Al Batinah recorded the highest number of sale contracts in September hitting 1 106 he added. ...
Nearly 30% of high net worth (HNW) individuals in India are expected to invest in real estate in the next three years according to a new report released by the financial news site LearnBonds. India s GDP is also expected to double in the next four years which would undoubtedly influence how HNW individuals spend their money stated the report. Moreover it is expected for HNW individuals to continue growing as well. Currently India has a population of 1.36 billion individuals. As per a survey conducted by the Hurun Research Institute 28.6% of HNW individuals are currently investing in real estate. However this is expected to grow to 30% in the coming years. The survey gathered information from 831 rich Indians with an average of 35 years per respondent. 58% of them claim to be men and 42% women stated the report. The main goal of the report is providing more information about changing lifestyle ...
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Nearly 30% of high net worth (HNW) individuals in India are expected to invest in real estate in the next three years according to a new report released by the financial news site LearnBonds. India s GDP is also expected to double in the next four years which would undoubtedly influence how HNW individuals spend their money stated the report. Moreover it is expected for HNW individuals to continue growing as well. Currently India has a population of 1.36 billion individuals. As per a survey conducted by the Hurun Research Institute 28.6% of HNW individuals are currently investing in real estate. However this is expected to grow to 30% in the coming years. The survey gathered information from 831 rich Indians with an average of 35 years per respondent. 58% of them claim to be men and 42% women stated the report. The main goal of the report is providing more information about changing lifestyle ...
Strengthening its leading position in the Saudi Logistics landscape LogiPoint the pioneer Bonded and Re-Export Zone in Saudi Arabia at Jeddah Islamic Port has been awarded the The Integrated Logistics Zones Company of the Year 2019 for the Middle East during a special industry gathering held in Dubai to celebrates excellence in the Logistics and Supply Chain across the region. LogiPoint has won the award for its ability to provide high quality and advanced integrated solutions in Jeddah Islamic Port and beyond contributing to Saudi Arabia s Vision 2030 and the National Industrial Development and Logistics Program (NDLIP) under the supervision of the Saudi logistics Hub to transform the Saudi Logistics Landscape. The Chief Executive Officer Farooq Shaikh of LogiPoint said: This win reflects Logipoint strength to provide a seamless integrated logistics solutions for our ...
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Strengthening its leading position in the Saudi Logistics landscape LogiPoint the pioneer Bonded and Re-Export Zone in Saudi Arabia at Jeddah Islamic Port has been awarded the The Integrated Logistics Zones Company of the Year 2019 for the Middle East during a special industry gathering held in Dubai to celebrates excellence in the Logistics and Supply Chain across the region. LogiPoint has won the award for its ability to provide high quality and advanced integrated solutions in Jeddah Islamic Port and beyond contributing to Saudi Arabia s Vision 2030 and the National Industrial Development and Logistics Program (NDLIP) under the supervision of the Saudi logistics Hub to transform the Saudi Logistics Landscape. The Chief Executive Officer Farooq Shaikh of LogiPoint said: This win reflects Logipoint strength to provide a seamless integrated logistics solutions for our ...
The Saudi Arabian General Investment Authority (Sagia) has granted four investment licences to Russian companies operating in the construction and real estate development administrative consultancy and information technology sectors. The licences were handed to Kontakt and Geopulsar from the world of construction and engineering P Group Saudi Arabia (Computer programming) and RS Investment Advisor (consultancy) said a statement from Sagia. A total of 17 MoUs were signed between Saudi and Russian firms covering various sectors including energy technology and transportation. The prime ones were deals between Saudi Railway Company and its Russia counterpart; Saudi Technology Development and Investment Company (Taqnia) and Russian Direct Investment Fund for development of a platform to launch satellites. These agreements are aimed at diversifying Saudi economy away from oil and are part of its economic reforms to...
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The Saudi Arabian General Investment Authority (Sagia) has granted four investment licences to Russian companies operating in the construction and real estate development administrative consultancy and information technology sectors. The licences were handed to Kontakt and Geopulsar from the world of construction and engineering P Group Saudi Arabia (Computer programming) and RS Investment Advisor (consultancy) said a statement from Sagia. A total of 17 MoUs were signed between Saudi and Russian firms covering various sectors including energy technology and transportation. The prime ones were deals between Saudi Railway Company and its Russia counterpart; Saudi Technology Development and Investment Company (Taqnia) and Russian Direct Investment Fund for development of a platform to launch satellites. These agreements are aimed at diversifying Saudi economy away from oil and are part of its economic reforms to...
Saudi Ports Authority has launched the AlKhomra Logistics Zone in Jeddah the largest of its kind in the kingdom for investment to the private sector. The logistics zone which will be built in phases comes as part of the government s plans to make the kingdom a hub in the trade exchange movement especially between the continents of Europe Asia and Africa. The Al Khomra zone which will support activities around shipping freight distribution and transport of goods extends over 2.3 million sq m in Jeddah home to one of the kingdom s largest ports. Phase One of the project will come up over a 2-million-sq-m area. Announcing the launch Minister of Transport Dr Nabeel bin Mohamed Al Amudi said: AlKhomra is an umbrella for a number of logistics zones and platforms to be launched in the coming period through a prepared comprehensive strategy and plan. It will have a significant impa...
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Saudi Ports Authority has launched the AlKhomra Logistics Zone in Jeddah the largest of its kind in the kingdom for investment to the private sector. The logistics zone which will be built in phases comes as part of the government s plans to make the kingdom a hub in the trade exchange movement especially between the continents of Europe Asia and Africa. The Al Khomra zone which will support activities around shipping freight distribution and transport of goods extends over 2.3 million sq m in Jeddah home to one of the kingdom s largest ports. Phase One of the project will come up over a 2-million-sq-m area. Announcing the launch Minister of Transport Dr Nabeel bin Mohamed Al Amudi said: AlKhomra is an umbrella for a number of logistics zones and platforms to be launched in the coming period through a prepared comprehensive strategy and plan. It will have a significant impa...
Dubai Customs has launched the World Logistics Passport as part of the first phase of a key strategy to help boost the Dubai Silk Road and expand demand for the emirate s products services and integrated transportation systems. The World Logistics Passport offers a set of unique operational and financial advantages for businesses and shipping companies by connecting government entities including Dubai Customs and Dubai Trade with logistics service providers such as DP World and Data and facilitating commercial transactions among the bodies concerned in Dubai. The unique initiative will also further augment the growing role played by Dubai Customs in regional and international trade. Commenting on the initiative Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum Crown Prince of Dubai and Chairman of Dubai Executive Council said the implementation of the Dubai Silk Road strategy marks the beginning of a new phase of economic ...
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Dubai Customs has launched the World Logistics Passport as part of the first phase of a key strategy to help boost the Dubai Silk Road and expand demand for the emirate s products services and integrated transportation systems. The World Logistics Passport offers a set of unique operational and financial advantages for businesses and shipping companies by connecting government entities including Dubai Customs and Dubai Trade with logistics service providers such as DP World and Data and facilitating commercial transactions among the bodies concerned in Dubai. The unique initiative will also further augment the growing role played by Dubai Customs in regional and international trade. Commenting on the initiative Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum Crown Prince of Dubai and Chairman of Dubai Executive Council said the implementation of the Dubai Silk Road strategy marks the beginning of a new phase of economic ...
Dubai Water and Electricity Authority (Dewa) has awarded a contract worth Dh981 960 889 ( 267 million) for construction work of its new headquarters to a consortium comprising Ghantoot Transport & General Contracting and Ghantoot Gulf Contracting. Construction of the new venue called Al-Shera a (Arabic for sail) is expected to be complete within 30 months. Dewa previously awarded the first phase of construction worth Dh46 million to Dutco Balfour Beatty which brings the total cost of the building s construction to over Dh1 billion. Al Shera a will be built in Jadaf in Dubai and will be the tallest largest and smartest government Zero Energy Building in the world. Total energy used in the building during a year will be equal to or less than the energy produced on site during that year. Dewa s new headquarters has been designed to receive a platinum rating by LEED (Leadership in Energy and Environmental D...
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Dubai Water and Electricity Authority (Dewa) has awarded a contract worth Dh981 960 889 ( 267 million) for construction work of its new headquarters to a consortium comprising Ghantoot Transport & General Contracting and Ghantoot Gulf Contracting. Construction of the new venue called Al-Shera a (Arabic for sail) is expected to be complete within 30 months. Dewa previously awarded the first phase of construction worth Dh46 million to Dutco Balfour Beatty which brings the total cost of the building s construction to over Dh1 billion. Al Shera a will be built in Jadaf in Dubai and will be the tallest largest and smartest government Zero Energy Building in the world. Total energy used in the building during a year will be equal to or less than the energy produced on site during that year. Dewa s new headquarters has been designed to receive a platinum rating by LEED (Leadership in Energy and Environmental D...
The Manrre Real-Estate Fund managed by a Dubai-based alternative investment platform Dalma Capital has generated a total annualised return of 12.5 per cent - including an 11.9% coupon paid to shareholders and a 0.6% increase in NAV per share - significantly outperforming the benchmark which has lost 27% over the same period. The fund focuses on the logistics and industrial sector an area which is of high interest for investment said the statement from Dalma Capital. Manrre has published results after closing its first year since inception with strong yield and capital appreciation on its Dh215 million portfolio - a stark contrast to market sentiment and the performance Dubai s other real-estate funds it added. Our outlook for the Manrre fund called on the wise words of Warren Buffett be greedy when others are fearful and fearful when others are greedy remarked Manohar Lahori...
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The Manrre Real-Estate Fund managed by a Dubai-based alternative investment platform Dalma Capital has generated a total annualised return of 12.5 per cent - including an 11.9% coupon paid to shareholders and a 0.6% increase in NAV per share - significantly outperforming the benchmark which has lost 27% over the same period. The fund focuses on the logistics and industrial sector an area which is of high interest for investment said the statement from Dalma Capital. Manrre has published results after closing its first year since inception with strong yield and capital appreciation on its Dh215 million portfolio - a stark contrast to market sentiment and the performance Dubai s other real-estate funds it added. Our outlook for the Manrre fund called on the wise words of Warren Buffett be greedy when others are fearful and fearful when others are greedy remarked Manohar Lahori...
DP World s business in Peru which began with container handling at the Port of Callao has expanded into a fully integrated maritime and logistics operation catering to the needs of customers across the entire supply chain. Sultan Ahmed bin Sulayem Group Chairman and CEO of DP World visited Peru s chief port the Port of Callao - to assess progress of the project. Our operations in Peru show in action DP World s strategy of enabling smarter global trade said Bin Sulayem. We run ports logistics hubs trucking companies and maritime services providing our customers in Peru with seamless services at every stage of the supply chain he stated. Peru is an optimum illustration of how we are applying around the world the know-how learned at Jebel Ali Port and JAFZA in Dubai. It is a benchmark of what we aim to achieve bringing greater prosperity to the countries in which we work and to th...
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DP World s business in Peru which began with container handling at the Port of Callao has expanded into a fully integrated maritime and logistics operation catering to the needs of customers across the entire supply chain. Sultan Ahmed bin Sulayem Group Chairman and CEO of DP World visited Peru s chief port the Port of Callao - to assess progress of the project. Our operations in Peru show in action DP World s strategy of enabling smarter global trade said Bin Sulayem. We run ports logistics hubs trucking companies and maritime services providing our customers in Peru with seamless services at every stage of the supply chain he stated. Peru is an optimum illustration of how we are applying around the world the know-how learned at Jebel Ali Port and JAFZA in Dubai. It is a benchmark of what we aim to achieve bringing greater prosperity to the countries in which we work and to th...
Saudi Ports Authority is planning to set up the country s largest integrated logistics zone as part of its plans to make the kingdom a hub in the trade exchange movement especially between the continents of Europe Asia and Africa. The logistics zone will be built in phases with the Phase One exceeding 2 million sq m said Yasser Abdulaziz Al Misfer a general overseer of the marketing and corporate communication department and adviser to the Minister of Transport. It will be a customs depository and re-export platform as part of its efforts to optimise the utilisation of its advanced capacities at Saudi ports he stated. A formal announcement on the logistics zone will be made by the Saudi Ports Authority at the third Saudi Logistics Conference to be held in Riyadh from October 13 to 15. About 2 000 experts specialised in the supply chain and logistics sector and several investors will be attending the top event b...
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Saudi Ports Authority is planning to set up the country s largest integrated logistics zone as part of its plans to make the kingdom a hub in the trade exchange movement especially between the continents of Europe Asia and Africa. The logistics zone will be built in phases with the Phase One exceeding 2 million sq m said Yasser Abdulaziz Al Misfer a general overseer of the marketing and corporate communication department and adviser to the Minister of Transport. It will be a customs depository and re-export platform as part of its efforts to optimise the utilisation of its advanced capacities at Saudi ports he stated. A formal announcement on the logistics zone will be made by the Saudi Ports Authority at the third Saudi Logistics Conference to be held in Riyadh from October 13 to 15. About 2 000 experts specialised in the supply chain and logistics sector and several investors will be attending the top event b...
About 2 000 experts specialised in the supply chain and logistics sector and several investors will attend the third Saudi Logistics Conference in Riyadh from October 13 to 15. The three-day conference will be patronised by Minister of Transport Dr Nabeel Mohamed Al-Amudi at the Four Seasons Hotel. It will witness the announcement by the Saudi Ports Authority of the largest integrated logistics zone in the kingdom exceeding 2 million sq m in its first phase. This will contribute to strengthening the kingdom s strategic position as a hub in the trade exchange movement especially between the three Continents Europe Asia and Africa. The logistics zone will be a customs depository and re-export platform as part of its efforts to optimize the utilization of its advanced capacities at Saudi ports. The conference is among the most prominent ...
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About 2 000 experts specialised in the supply chain and logistics sector and several investors will attend the third Saudi Logistics Conference in Riyadh from October 13 to 15. The three-day conference will be patronised by Minister of Transport Dr Nabeel Mohamed Al-Amudi at the Four Seasons Hotel. It will witness the announcement by the Saudi Ports Authority of the largest integrated logistics zone in the kingdom exceeding 2 million sq m in its first phase. This will contribute to strengthening the kingdom s strategic position as a hub in the trade exchange movement especially between the three Continents Europe Asia and Africa. The logistics zone will be a customs depository and re-export platform as part of its efforts to optimize the utilization of its advanced capacities at Saudi ports. The conference is among the most prominent ...
Marjan the master-developer of freehold projects is showcasing the attractive investment opportunities in the northern emirate of Ras Al Khaimah particularly in the property and hospitality sectors at Expo Real the largest real estate and investment trade fair in Europe. Held at Messe Munich Exhibition Centre in Germany Expo Real brings together industry stakeholders from across the world as well as high net worth investors keen to explore investment opportunities globally in the real estate sector. Marjan is not only presenting the investment value proposition offered by Al Marjan Island its flagship mega-development but also the enormous value that Ras Al Khaimah offers for investors through assured returns and yields said the Emirati developer. According to industry estimates investing in Ras Al Khaimah offers property investors the dual advantage of 20 to 25 per cent lower development cost and a return on investment of abo...
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Marjan the master-developer of freehold projects is showcasing the attractive investment opportunities in the northern emirate of Ras Al Khaimah particularly in the property and hospitality sectors at Expo Real the largest real estate and investment trade fair in Europe. Held at Messe Munich Exhibition Centre in Germany Expo Real brings together industry stakeholders from across the world as well as high net worth investors keen to explore investment opportunities globally in the real estate sector. Marjan is not only presenting the investment value proposition offered by Al Marjan Island its flagship mega-development but also the enormous value that Ras Al Khaimah offers for investors through assured returns and yields said the Emirati developer. According to industry estimates investing in Ras Al Khaimah offers property investors the dual advantage of 20 to 25 per cent lower development cost and a return on investment of abo...
More than 520 leading international and local brands representing 34 countries are showcasing their innovative products and solutions at Saudi Build 2019. A one-of-a-kind construction trade extravaganza Saudi Build Exhibition 2019 kicked off today (October 7) at the Riyadh International Convention & Exhibition Center. The event which is concurrently being held with Saudi Stone Tech Saudi Build PMV Series Interior Design and Saudi Build Technology & Automation Building was inaugurated by Prince Faisal bin Bandar bin Abdulaziz Al Saud Governor of Riyadh Region. To be held until October 10 Saudi Build will provide unique opportunities and enormous prospects for investors who are eager to enter the Saudi market. The 31st edition of the expo enjoys the platinum sponsorship of Saudi Exports Development Authority and the partnership of The National Gas and Industrial Company (GASCO) Saudi Council of Engi...
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More than 520 leading international and local brands representing 34 countries are showcasing their innovative products and solutions at Saudi Build 2019. A one-of-a-kind construction trade extravaganza Saudi Build Exhibition 2019 kicked off today (October 7) at the Riyadh International Convention & Exhibition Center. The event which is concurrently being held with Saudi Stone Tech Saudi Build PMV Series Interior Design and Saudi Build Technology & Automation Building was inaugurated by Prince Faisal bin Bandar bin Abdulaziz Al Saud Governor of Riyadh Region. To be held until October 10 Saudi Build will provide unique opportunities and enormous prospects for investors who are eager to enter the Saudi market. The 31st edition of the expo enjoys the platinum sponsorship of Saudi Exports Development Authority and the partnership of The National Gas and Industrial Company (GASCO) Saudi Council of Engi...
The deterioration in construction output growth across emerging markets has been worse than previously expected particularly in the US and the Middle East according to GlobalData a leading data and analytics company. Therefore the forecast for global construction output growth in 2019 has been revised down to 2.7% which will be the slowest pace of growth in a decade stated the data company in its latest report Global Construction Outlook to 2023 Q3 2019 Update. GlobalData s central forecast sees global construction output growth increase to 3.2% in 2020 and then stabilize at 3.4% over the remainder of the forecast period which runs to 2023. This is partly driven by a projected improvement in the global economy in 2020 which in turn relies on improvements in financial market sentiment and stabilization in some of the larger currently-troubled emerging markets it added. Danny Richards ...
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The deterioration in construction output growth across emerging markets has been worse than previously expected particularly in the US and the Middle East according to GlobalData a leading data and analytics company. Therefore the forecast for global construction output growth in 2019 has been revised down to 2.7% which will be the slowest pace of growth in a decade stated the data company in its latest report Global Construction Outlook to 2023 Q3 2019 Update. GlobalData s central forecast sees global construction output growth increase to 3.2% in 2020 and then stabilize at 3.4% over the remainder of the forecast period which runs to 2023. This is partly driven by a projected improvement in the global economy in 2020 which in turn relies on improvements in financial market sentiment and stabilization in some of the larger currently-troubled emerging markets it added. Danny Richards ...
Advanced Construction Technology Services (ACTS) a leading regional testing inspection and certification firm has announced its acquisition of CQRA a top construction management company and independent quality assessment agency based at Pune in the Indian state of Maharashtra. The news comes after ACTS revealed back in August that it was teaming up with Durocrete Engineering Services (DESPL) a leading name in the field of construction material testing as part of a strategic partnership to expand operations in India. Founded in 1996 ACTS was the first construction testing inspection and certification firm to obtain ISO 9001 ISO 17025 ISO 14001 and OHSAS 18001 certifications. The firm provides a wide range of services in the construction and oil and gas sectors including consultancy geotechnical engineering environmental testing non-destructive testing and others. ACTS is the local sponsoring group for Ameri...
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Advanced Construction Technology Services (ACTS) a leading regional testing inspection and certification firm has announced its acquisition of CQRA a top construction management company and independent quality assessment agency based at Pune in the Indian state of Maharashtra. The news comes after ACTS revealed back in August that it was teaming up with Durocrete Engineering Services (DESPL) a leading name in the field of construction material testing as part of a strategic partnership to expand operations in India. Founded in 1996 ACTS was the first construction testing inspection and certification firm to obtain ISO 9001 ISO 17025 ISO 14001 and OHSAS 18001 certifications. The firm provides a wide range of services in the construction and oil and gas sectors including consultancy geotechnical engineering environmental testing non-destructive testing and others. ACTS is the local sponsoring group for Ameri...
CASE Construction Equipment a leading seller and supporter of a full line of construction equipment around the world recently hosted a Made in CNH Industrial India event for key stakeholders from Middle East and Africa (MEA) region and China. The event saw close to 60 delegates visit its facility in Pithampur in the north Indian state of Madhya Pradesh for a tour and seminar where they got a feel of the manufacturing capabilities and world class standards of the Indian plant. CNH Industrial has a significant presence in India with three manufacturing plants. Besides Pithampur the company has plants at Greater Noida and Pune both catering to the requirements of agricultural equipment. The Pithampur plant is a bronze certified World Class Manufacturing (WCM) site. WCM is a pillar-structured system based on continuous improvement designed to eliminate waste and loss from the production process by identifying obj...
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CASE Construction Equipment a leading seller and supporter of a full line of construction equipment around the world recently hosted a Made in CNH Industrial India event for key stakeholders from Middle East and Africa (MEA) region and China. The event saw close to 60 delegates visit its facility in Pithampur in the north Indian state of Madhya Pradesh for a tour and seminar where they got a feel of the manufacturing capabilities and world class standards of the Indian plant. CNH Industrial has a significant presence in India with three manufacturing plants. Besides Pithampur the company has plants at Greater Noida and Pune both catering to the requirements of agricultural equipment. The Pithampur plant is a bronze certified World Class Manufacturing (WCM) site. WCM is a pillar-structured system based on continuous improvement designed to eliminate waste and loss from the production process by identifying obj...
Bahrain s Real Estate Regulatory Authority (Rera) said it has taken several key measures in co-ordination with other government bodies to stamp out money laundering in the kingdom s property sector. Rera is committed to adopt global anti-money laundering standards for real estate sector and rooting out this menace stated its CEO Shaikh Mohammed bin Khalifa Al Khalifa. He was speaking after the publication of a resolution designed to mitigate the risks of money laundering in Bahrain s real estate sector. We are determined to the implementation of international standards on anti-money laundering. Rera is working closely with other government bodies on this very important topic said Shaikh Mohammed. In bid to curb the menace Shaikh Mohammed said the real estate watchdog had introduced policies and procedures for real estate licensees to identify and report suspicious transactions and activities. br /...
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Bahrain s Real Estate Regulatory Authority (Rera) said it has taken several key measures in co-ordination with other government bodies to stamp out money laundering in the kingdom s property sector. Rera is committed to adopt global anti-money laundering standards for real estate sector and rooting out this menace stated its CEO Shaikh Mohammed bin Khalifa Al Khalifa. He was speaking after the publication of a resolution designed to mitigate the risks of money laundering in Bahrain s real estate sector. We are determined to the implementation of international standards on anti-money laundering. Rera is working closely with other government bodies on this very important topic said Shaikh Mohammed. In bid to curb the menace Shaikh Mohammed said the real estate watchdog had introduced policies and procedures for real estate licensees to identify and report suspicious transactions and activities. br /...
The GCC s boutique platform for property developers and the real estate market is attracting an influential line-up of sponsors and exhibitors for the second edition of the Gulf Property Show at the Avenues Bahrain. The event organised by Hilal Conferences and Exhibitions (HCE) is the winter edition of Gulf Property Show a boutique showcase for real estate sector in the Northern Gulf held every April. Gulf Property Show at the Avenues takes place from November 6 to 9 carries the strategic sponsorship of Durrat Marina Golden Gate Developers and First Bahrain Real Estate besides the organizational support of the Real Estate Regulatory Authority. Durrat Marina CEO Waleed Ishaq Saffy said: The show is an excellent opportunity to meet and hear from investors and buyers. The venue is one of Bahrain s leading attractions for Bahrain and GCC visitors to the kingdom. Gulf Property Show at the Av...
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The GCC s boutique platform for property developers and the real estate market is attracting an influential line-up of sponsors and exhibitors for the second edition of the Gulf Property Show at the Avenues Bahrain. The event organised by Hilal Conferences and Exhibitions (HCE) is the winter edition of Gulf Property Show a boutique showcase for real estate sector in the Northern Gulf held every April. Gulf Property Show at the Avenues takes place from November 6 to 9 carries the strategic sponsorship of Durrat Marina Golden Gate Developers and First Bahrain Real Estate besides the organizational support of the Real Estate Regulatory Authority. Durrat Marina CEO Waleed Ishaq Saffy said: The show is an excellent opportunity to meet and hear from investors and buyers. The venue is one of Bahrain s leading attractions for Bahrain and GCC visitors to the kingdom. Gulf Property Show at the Av...
Cityscape Global the 19th annual edition of the gateway event for regional real estate investment opened its doors in Dubai today to a sea of visitors - including global real estate investors industry professionals and officials from big name exhibitors besides a 500-strong delegation of North American agents and brokers. The expo was officially inaugurated by Sheikh Ahmed bin Saeed Al Maktoum President of Dubai Civil Aviation Authority (DCAA) in the presence of senior officials. HH Sheikh Ahmed was joined by a delegation of top-ranking VIPs including Sultan Butti bin Mejren Director General of the Dubai Land Department and Helal Saeed Almarri Director General of the Dubai World Trade Centre Authority (DWTCA) and the Dubai Department of Tourism and Commerce Marketing (DTCM). After the opening Sheikh Ahmed toured the expo stopping for detailed briefings at numerous exhibitors stands including the Dubai Municipality whe...
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Cityscape Global the 19th annual edition of the gateway event for regional real estate investment opened its doors in Dubai today to a sea of visitors - including global real estate investors industry professionals and officials from big name exhibitors besides a 500-strong delegation of North American agents and brokers. The expo was officially inaugurated by Sheikh Ahmed bin Saeed Al Maktoum President of Dubai Civil Aviation Authority (DCAA) in the presence of senior officials. HH Sheikh Ahmed was joined by a delegation of top-ranking VIPs including Sultan Butti bin Mejren Director General of the Dubai Land Department and Helal Saeed Almarri Director General of the Dubai World Trade Centre Authority (DWTCA) and the Dubai Department of Tourism and Commerce Marketing (DTCM). After the opening Sheikh Ahmed toured the expo stopping for detailed briefings at numerous exhibitors stands including the Dubai Municipality whe...
Dubai s retail sector is undergoing a major transformation with the rise of e-commerce and evolving customer preferences shaping a new retail logistics industry said professional services firm JLL in a new report. A wave of innovative new real estate solutions in the logistics sector are creating alternative investment opportunities added JLL s new report titled Redefining Retail Logistics the Dubai Experience launched at Cityscape Global 2019 a major real estate event. As a global leader in both retail and logistics Dubai is well placed to leverage the retail industry s rapidly changing dynamics including rising e-commerce new disruptive technologies and evolving consumer tastes. To take full advantage of these trends retailers are addressing the challenge of fulfilling increasing demand for online delivery while balancing an oversupply of traditional retail space. The a...
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Dubai s retail sector is undergoing a major transformation with the rise of e-commerce and evolving customer preferences shaping a new retail logistics industry said professional services firm JLL in a new report. A wave of innovative new real estate solutions in the logistics sector are creating alternative investment opportunities added JLL s new report titled Redefining Retail Logistics the Dubai Experience launched at Cityscape Global 2019 a major real estate event. As a global leader in both retail and logistics Dubai is well placed to leverage the retail industry s rapidly changing dynamics including rising e-commerce new disruptive technologies and evolving consumer tastes. To take full advantage of these trends retailers are addressing the challenge of fulfilling increasing demand for online delivery while balancing an oversupply of traditional retail space. The a...
Oman s ranking in the World Bank s Global Logistics Performance Index went up from 59 to 43 between 2014 and 2018 said the organisers of the upcoming Oman Economic & Free Zone Summit in Muscat Oman. Organized by Free Zone Watch co-hosted by Ithraa and supported by the Oman Chamber of Commerce & Industry the summit is scheduled for October 21-22 at the Oman Convention & Exhibition Centre and will be held under the patronage of Dr Yahya Al Mandhari Chairman State Council. The two-day international event will outline the strategic shifts in regional trade and in-country developments which make the sultanate an ideal logistics hub for international investors. In 2018 Oman was the top location for FDI in the Gulf with 19.6 billion worth of investment. Nearly 60 percent of the 173 investment projects located in the Gulf financed by Arab entities were located in Oman. Khazaen Economic City is a ma...
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Oman s ranking in the World Bank s Global Logistics Performance Index went up from 59 to 43 between 2014 and 2018 said the organisers of the upcoming Oman Economic & Free Zone Summit in Muscat Oman. Organized by Free Zone Watch co-hosted by Ithraa and supported by the Oman Chamber of Commerce & Industry the summit is scheduled for October 21-22 at the Oman Convention & Exhibition Centre and will be held under the patronage of Dr Yahya Al Mandhari Chairman State Council. The two-day international event will outline the strategic shifts in regional trade and in-country developments which make the sultanate an ideal logistics hub for international investors. In 2018 Oman was the top location for FDI in the Gulf with 19.6 billion worth of investment. Nearly 60 percent of the 173 investment projects located in the Gulf financed by Arab entities were located in Oman. Khazaen Economic City is a ma...
Dubai-based Meraas said it has joined hands with Brookfield Asset Management to set up a new real estate platform in the UAE at an investment of Dh5 billion ( 1.4 billion) that will own and operate a diversified portfolio of Meraas retail assets including The Beach City Walk and La Mer. The new venture will serve as a dedicated platform to explore growth opportunities in the retail sector across the UAE and the broader region said a statement from Meraas. A premier developer and operator of lifestyle destinations in Dubai Meraas boasts a unique portfolio of properties combining the natural environment design-led aesthetics and relentless focus on customer experience while Brookfield is a leading alternative asset manager with over 385 billion in assets under management and a 120-year heritage as an owner and operator of businesses. This transaction represents a significant investment in the region for Brookfield and its debut in...
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Dubai-based Meraas said it has joined hands with Brookfield Asset Management to set up a new real estate platform in the UAE at an investment of Dh5 billion ( 1.4 billion) that will own and operate a diversified portfolio of Meraas retail assets including The Beach City Walk and La Mer. The new venture will serve as a dedicated platform to explore growth opportunities in the retail sector across the UAE and the broader region said a statement from Meraas. A premier developer and operator of lifestyle destinations in Dubai Meraas boasts a unique portfolio of properties combining the natural environment design-led aesthetics and relentless focus on customer experience while Brookfield is a leading alternative asset manager with over 385 billion in assets under management and a 120-year heritage as an owner and operator of businesses. This transaction represents a significant investment in the region for Brookfield and its debut in...
The UAE s logistics sector has been making great strides over the recent years as the country retains its advanced ranking across global competitiveness indices thanks to the strong offerings of its free zones and massive infrastructure investments. Within this positive outlook perspective the Federal Competitiveness and Statistics Authority said the logistics sector s gross output amounted to Dh219 billion ( 60 billion) last year and added that within the next two years the sector s contribution to the country s GDP is set to increase to 8 per cent. As part of the UAE s economic diversification plan UAE Vision 2021 Abu Dhabi Economic Vision 2030 and Dubai s Industrial Strategy 2030 the development of the logistics sector is seen as a strategically important goal for sustained long term success of the national economy stated the Authority. Studies...
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The UAE s logistics sector has been making great strides over the recent years as the country retains its advanced ranking across global competitiveness indices thanks to the strong offerings of its free zones and massive infrastructure investments. Within this positive outlook perspective the Federal Competitiveness and Statistics Authority said the logistics sector s gross output amounted to Dh219 billion ( 60 billion) last year and added that within the next two years the sector s contribution to the country s GDP is set to increase to 8 per cent. As part of the UAE s economic diversification plan UAE Vision 2021 Abu Dhabi Economic Vision 2030 and Dubai s Industrial Strategy 2030 the development of the logistics sector is seen as a strategically important goal for sustained long term success of the national economy stated the Authority. Studies...
Dubai s real estate sector is making a significant contribution to the emirate s GDP growth with the figures posting a 13.6 per cent growth last year compared to 6.9 per cent in 2017 and 6.8 per cent in 2016 according to a report by Dubai Land Department (DLD). The improvement in economic growth rates in the emirate was accompanied by an improvement in the performance of the real estate sector stated the DLD in its Annual Report: Real Estate Sector Performance 2019 . Meanwhile the contribution from Dubai s construction sector to the GDP reached 6.4 per cent in 2018 compared to 6.2 per cent in both 2017 and 2016 stated the report. The value of the gross domestic product in Dubai reached Dh398 billion ( 108 billion) in 2018 compared to Dh390 billion ( 106 billion) in 2017 with a GDP growth rate of 1.9 per cent in 2018. To stimulate the GDP growth the Dubai government has launched a series of init...
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Dubai s real estate sector is making a significant contribution to the emirate s GDP growth with the figures posting a 13.6 per cent growth last year compared to 6.9 per cent in 2017 and 6.8 per cent in 2016 according to a report by Dubai Land Department (DLD). The improvement in economic growth rates in the emirate was accompanied by an improvement in the performance of the real estate sector stated the DLD in its Annual Report: Real Estate Sector Performance 2019 . Meanwhile the contribution from Dubai s construction sector to the GDP reached 6.4 per cent in 2018 compared to 6.2 per cent in both 2017 and 2016 stated the report. The value of the gross domestic product in Dubai reached Dh398 billion ( 108 billion) in 2018 compared to Dh390 billion ( 106 billion) in 2017 with a GDP growth rate of 1.9 per cent in 2018. To stimulate the GDP growth the Dubai government has launched a series of init...
Real estate is one of five major sectors that the Bahrain Economic Development Board (EDB) is focusing on for future development as part of its mission to attract and direct investments in order to create jobs in the kingdom said Ali Murtaza the Director of Real Estate and Tourism at Bahrain EDB. Murtaza was addressing some of the leading global industry experts during a special session at the GCC PropTech Time Summit 2019 held in Manama today (September 17). The event put spotlight on the latest real estate construction technologies amongst the GCC countries. According to experts PropTech - the technology that is transforming the real estate and development eco-system - is pegged to be the next game changer after FinTech. Leading experts showcased the technologies dedicated to the real estate industry in this digitalised era which will support positive growth rates all with the help of innovative technology real estate mar...
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Real estate is one of five major sectors that the Bahrain Economic Development Board (EDB) is focusing on for future development as part of its mission to attract and direct investments in order to create jobs in the kingdom said Ali Murtaza the Director of Real Estate and Tourism at Bahrain EDB. Murtaza was addressing some of the leading global industry experts during a special session at the GCC PropTech Time Summit 2019 held in Manama today (September 17). The event put spotlight on the latest real estate construction technologies amongst the GCC countries. According to experts PropTech - the technology that is transforming the real estate and development eco-system - is pegged to be the next game changer after FinTech. Leading experts showcased the technologies dedicated to the real estate industry in this digitalised era which will support positive growth rates all with the help of innovative technology real estate mar...
Dubai South will be promoting the Logistics District and its recently launched fully dedicated e-commerce free zone EZDubai including its capabilities and key features at the upcoming e-commerce Expo in Olympia London UK. Dubai South is set to highlight the latest developments in the Middle East s rapidly growing e-commerce sector at the upcoming e-commerce expo as part of its commitment to play a key role in the move to advance Dubai s leadership in global trade and e-commerce. During their presence at the show Dubai South will be promoting the Logistics District and its recently launched fully dedicated e-commerce free zone EZDubai including its capabilities and key features said a statement. Ecommerce Expo is set to take place from September 25 to 26 and is considered the UK s largest e-commerce event attracting more than 12 000 delegates and over 200 companies from across the country. Rece...
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Dubai South will be promoting the Logistics District and its recently launched fully dedicated e-commerce free zone EZDubai including its capabilities and key features at the upcoming e-commerce Expo in Olympia London UK. Dubai South is set to highlight the latest developments in the Middle East s rapidly growing e-commerce sector at the upcoming e-commerce expo as part of its commitment to play a key role in the move to advance Dubai s leadership in global trade and e-commerce. During their presence at the show Dubai South will be promoting the Logistics District and its recently launched fully dedicated e-commerce free zone EZDubai including its capabilities and key features said a statement. Ecommerce Expo is set to take place from September 25 to 26 and is considered the UK s largest e-commerce event attracting more than 12 000 delegates and over 200 companies from across the country. Rece...
Shomoul Holding Company a unit of Kuwaiti developer Mabanee has awarded design and construction works contract worth SR6.15 billion ( 1.6 billion) for the Phase One of its Avenues Riyadh project to Nesma and Partners Contracting. The transaction for the Phase One of the project - which includes the execution of the entire mall parking gardens and internal roads - was felicitated through Shomoul Commercial Mall. On completion the commercial complex is poised to become the largest leisure and commercial destination in Saudi Arabia stated Mabanee in its filing to the Kuwaiti bourse. Meanwhile a letter of intent worth of SR68 million was signed with Nesma and Partners Contracting Company preluding to the signing of the final contract to start the construction works of the project it added. ...
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Shomoul Holding Company a unit of Kuwaiti developer Mabanee has awarded design and construction works contract worth SR6.15 billion ( 1.6 billion) for the Phase One of its Avenues Riyadh project to Nesma and Partners Contracting. The transaction for the Phase One of the project - which includes the execution of the entire mall parking gardens and internal roads - was felicitated through Shomoul Commercial Mall. On completion the commercial complex is poised to become the largest leisure and commercial destination in Saudi Arabia stated Mabanee in its filing to the Kuwaiti bourse. Meanwhile a letter of intent worth of SR68 million was signed with Nesma and Partners Contracting Company preluding to the signing of the final contract to start the construction works of the project it added. ...
Neom a new destination being created in Saudi Arabia has awarded contracts to Al-Tamimi Group and Saudi Arabian Trading & Construction Company (Satco) to build finance and operate its Construction Village for 10 years. The accommodation at the Construction Village will host workers who will move to the site to develop various areas of the Neom project. Al-Tamimi Group will develop two residential areas within the village with a capacity to house 10 000 residents each. Satco will build a third one with the same capacity. The two developers will operate the village for 10 years. The Construction Village will consist of three residential areas for 30 000 residents and will be able to be expanded later as the project develops to accommodate more than 100 000 residents. The developers will build the residential areas with conditions in line with the best international standards for contractors accommodation...
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Neom a new destination being created in Saudi Arabia has awarded contracts to Al-Tamimi Group and Saudi Arabian Trading & Construction Company (Satco) to build finance and operate its Construction Village for 10 years. The accommodation at the Construction Village will host workers who will move to the site to develop various areas of the Neom project. Al-Tamimi Group will develop two residential areas within the village with a capacity to house 10 000 residents each. Satco will build a third one with the same capacity. The two developers will operate the village for 10 years. The Construction Village will consist of three residential areas for 30 000 residents and will be able to be expanded later as the project develops to accommodate more than 100 000 residents. The developers will build the residential areas with conditions in line with the best international standards for contractors accommodation...
The construction sector is on the cusp of a technological transformation which will drive sustainability considerations to the forefront of decision-making according to experts who will be debating key challenges associated with construction megatrends at an event this month. Robots are predicted to replace humans as the sector becomes increasingly automated over the next 30 years supporting the drive for carbon neutral development while radically improving health and safety on building sites. Dr Will Cavendish global leader digital services Arup; Aref Boualwan senior manager digital transformation & strategy CCC; Peter Jones technical & operational efficiency director Skanska; and Sherief Elabd director of industry strategy Oracle Construction and Engineering will be among speakers at the Construction Technology Forum 2019 on September 24 and 25 September at Address Dubai Marina Dubai....
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The construction sector is on the cusp of a technological transformation which will drive sustainability considerations to the forefront of decision-making according to experts who will be debating key challenges associated with construction megatrends at an event this month. Robots are predicted to replace humans as the sector becomes increasingly automated over the next 30 years supporting the drive for carbon neutral development while radically improving health and safety on building sites. Dr Will Cavendish global leader digital services Arup; Aref Boualwan senior manager digital transformation & strategy CCC; Peter Jones technical & operational efficiency director Skanska; and Sherief Elabd director of industry strategy Oracle Construction and Engineering will be among speakers at the Construction Technology Forum 2019 on September 24 and 25 September at Address Dubai Marina Dubai....
V.Group a leading global marine support services provider said it has signed a contract with Abu Dhabi-based Adnoc Logistics & Services to provide crew management services to 93 offshore support vessels. To support the contract and to enable further expansion in the region V.Group has opened a new Abu Dhabi office which began operations in early August said the company in its statement.. The office and service function was successfully delivered within a 90-day period as part of a formal agreement between the two parties it stated. Senior management from both companies attended an official signing ceremony at the Adnoc L&S headquarters last month including Captain Abdulkareem Al Masabi CEO of Adnoc L&S and Allan Falkenberg Managing Director of Crew Management at V.Group. Today s official opening is a...
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V.Group a leading global marine support services provider said it has signed a contract with Abu Dhabi-based Adnoc Logistics & Services to provide crew management services to 93 offshore support vessels. To support the contract and to enable further expansion in the region V.Group has opened a new Abu Dhabi office which began operations in early August said the company in its statement.. The office and service function was successfully delivered within a 90-day period as part of a formal agreement between the two parties it stated. Senior management from both companies attended an official signing ceremony at the Adnoc L&S headquarters last month including Captain Abdulkareem Al Masabi CEO of Adnoc L&S and Allan Falkenberg Managing Director of Crew Management at V.Group. Today s official opening is a...
DP World a leader in enabling global trade and its subsidiary P&O will be participating in the 24th World Energy Congress (WEC) in ABu Dhabi as the Logistics Partner to the Energy Industry . Attending this event (from September 9 to 12) for the first time DP World will showcase its global experience capabilities and operations in energy logistics and sustainable mobility. The WEC is the world s most important global energy event and will be held in the Middle East for the first time. Under the theme Making Energy Flow DP World and P&O will demonstrate the connectivity of energy-related cargo movement around the world as they engage the international energy community and shed light on the best practices trends and future outlook of logistics across the energy sector supply chain. Key focus areas will include marine logistics through P&O and the promise of sus...
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DP World a leader in enabling global trade and its subsidiary P&O will be participating in the 24th World Energy Congress (WEC) in ABu Dhabi as the Logistics Partner to the Energy Industry . Attending this event (from September 9 to 12) for the first time DP World will showcase its global experience capabilities and operations in energy logistics and sustainable mobility. The WEC is the world s most important global energy event and will be held in the Middle East for the first time. Under the theme Making Energy Flow DP World and P&O will demonstrate the connectivity of energy-related cargo movement around the world as they engage the international energy community and shed light on the best practices trends and future outlook of logistics across the energy sector supply chain. Key focus areas will include marine logistics through P&O and the promise of sus...
Azizi Developments one of the leading private developers in the UAE has revealed the major construction milestones that it recorded in the third quarter of 2019. This year alone Azizi has casted over 117 slabs poured over 165 000 tonne of concrete erected over 45 cranes and constructed over 1.3 million sq ft with a monthly average building progress of nearly 5 per cent and over 5.9 million recorded man-hours. Azizi s projects across Meydan Al Furjan Downtown Jebel Ali Palm Jumeirah and Dubai Healthcare City are well underway with construction progressing swiftly. With each of its properties adding unique value to Dubai s skyline through their prime locations outstanding arrays of amenities and architectural artistry Azizi keeps innovation and customer centricity at the forefront of its development decisions. Following a location-based pricing strategy all of Azizi s projects are situated in ...
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Azizi Developments one of the leading private developers in the UAE has revealed the major construction milestones that it recorded in the third quarter of 2019. This year alone Azizi has casted over 117 slabs poured over 165 000 tonne of concrete erected over 45 cranes and constructed over 1.3 million sq ft with a monthly average building progress of nearly 5 per cent and over 5.9 million recorded man-hours. Azizi s projects across Meydan Al Furjan Downtown Jebel Ali Palm Jumeirah and Dubai Healthcare City are well underway with construction progressing swiftly. With each of its properties adding unique value to Dubai s skyline through their prime locations outstanding arrays of amenities and architectural artistry Azizi keeps innovation and customer centricity at the forefront of its development decisions. Following a location-based pricing strategy all of Azizi s projects are situated in ...
Cityscape Global the gateway event for real estate investment which opens in Dubai World Trade Centre this month will underline attractive real estate opportunities created by the emirate s increasingly mature investment environment. The emirate remains relatively affordable on a global basis according to international real estate consultancy Knight Frank. Dubai is fast becoming a key hub city for property investment. In its latest economic report the consultants said that though the speed of Dubai s real estate growth has brought challenges it is also creating a more mature investment environment it stated. Its analysis of the size of prime residential property that 1 million will buy in key cities sees Dubai offering a generous 143 sqm as against Monaco with 16 sqm Hong Kong at 22 sqm and both London and New York at 31 sqm. The company s expectations of the market will be spelt out at Citys...
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Cityscape Global the gateway event for real estate investment which opens in Dubai World Trade Centre this month will underline attractive real estate opportunities created by the emirate s increasingly mature investment environment. The emirate remains relatively affordable on a global basis according to international real estate consultancy Knight Frank. Dubai is fast becoming a key hub city for property investment. In its latest economic report the consultants said that though the speed of Dubai s real estate growth has brought challenges it is also creating a more mature investment environment it stated. Its analysis of the size of prime residential property that 1 million will buy in key cities sees Dubai offering a generous 143 sqm as against Monaco with 16 sqm Hong Kong at 22 sqm and both London and New York at 31 sqm. The company s expectations of the market will be spelt out at Citys...
Deep insights into the future of the Middle East s design manufacturing and construction sectors will be unveiled at the SPS Automation Middle East set to open tomorrow (September 3) in Dubai UAE. The event is the region s only showcase for innovative solutions in the automation industry which will run until September 4 at the Dubai World Trade Centre. One of the most incisive examinations of the region s readiness for the 4th industrial revolution the show will see automation IoT and artificial intelligence (AI) unveil technologies which could dictate the global relevance and competitiveness of the region which has manufacturing high on its economic diversification agenda. Andreas Rex show director of SPS Automation Middle East which is organised by Messe Frankfurt Middle East said: Visitors will get the keenest of insights into the region s design houses factories and construction sites o...
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Deep insights into the future of the Middle East s design manufacturing and construction sectors will be unveiled at the SPS Automation Middle East set to open tomorrow (September 3) in Dubai UAE. The event is the region s only showcase for innovative solutions in the automation industry which will run until September 4 at the Dubai World Trade Centre. One of the most incisive examinations of the region s readiness for the 4th industrial revolution the show will see automation IoT and artificial intelligence (AI) unveil technologies which could dictate the global relevance and competitiveness of the region which has manufacturing high on its economic diversification agenda. Andreas Rex show director of SPS Automation Middle East which is organised by Messe Frankfurt Middle East said: Visitors will get the keenest of insights into the region s design houses factories and construction sites o...
Abu Dhabi s Department of Urban Planning and Municipalities (DPM) has issued a new legislation regulating the construction of private villas in the emirate which aims to reduce construction costs for landowners. The new legalisation regulations are aligned with the Abu Dhabi Government Accelerators Programme Ghadan 21 (Tomorrow 21) to review the infrastructure policies and reduce building costs said a statement. The DPM has revised its building legislation to reduce the minimum size of bedrooms kitchens dining areas and majlis seating areas. This is in response to feedback from landowners requesting for more flexible spatial requirements. As part of the new law landowners will no longer have to construct a hallway in their new home and the maximum height for side fences has now been lowered from six to four metres all of which will reduce the cost of construction. Th...
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Abu Dhabi s Department of Urban Planning and Municipalities (DPM) has issued a new legislation regulating the construction of private villas in the emirate which aims to reduce construction costs for landowners. The new legalisation regulations are aligned with the Abu Dhabi Government Accelerators Programme Ghadan 21 (Tomorrow 21) to review the infrastructure policies and reduce building costs said a statement. The DPM has revised its building legislation to reduce the minimum size of bedrooms kitchens dining areas and majlis seating areas. This is in response to feedback from landowners requesting for more flexible spatial requirements. As part of the new law landowners will no longer have to construct a hallway in their new home and the maximum height for side fences has now been lowered from six to four metres all of which will reduce the cost of construction. Th...
Egypt-based Orascom Construction said that its consolidated EBITDA increased 26.8 per cent in the first six months (H1) of the year to 142.4 million. Pro forma EBITDA including 50 per cent in BESIX increased 15.6 per cent y-o-y to 176.0 million in H1 while net income attributable to shareholders reached 31.3 million in Q2 2019 and 61.5 million in H1 2019. The company s consolidated backlog grew 9.4 per cent y-o-y to 4.6 billion and pro forma backlog including 50 per cent share in BESIX increased 19.3 per cent y-o-y to 7.3 billion as of June30 2019. Consolidated new awards increased 41.8 per cent y-o-y to 1.4 billion and pro forma new awards including 50 per cent share in BESIX increased 22.1 per cent y-o-y to 2.4 billion in H1 2019 A dividend distribution of 35 million ( 0.30 per share) was paid out to shareholders in July 2019 a company statement said. We report another consecutive quarter...
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Egypt-based Orascom Construction said that its consolidated EBITDA increased 26.8 per cent in the first six months (H1) of the year to 142.4 million. Pro forma EBITDA including 50 per cent in BESIX increased 15.6 per cent y-o-y to 176.0 million in H1 while net income attributable to shareholders reached 31.3 million in Q2 2019 and 61.5 million in H1 2019. The company s consolidated backlog grew 9.4 per cent y-o-y to 4.6 billion and pro forma backlog including 50 per cent share in BESIX increased 19.3 per cent y-o-y to 7.3 billion as of June30 2019. Consolidated new awards increased 41.8 per cent y-o-y to 1.4 billion and pro forma new awards including 50 per cent share in BESIX increased 22.1 per cent y-o-y to 2.4 billion in H1 2019 A dividend distribution of 35 million ( 0.30 per share) was paid out to shareholders in July 2019 a company statement said. We report another consecutive quarter...
Azizi Developments one of the leading private developers in the UAE recorded an eight per cent increase in sales to investors from Saudi Arabia between 2018 and 2019. While UAE nationals still make up the largest customer demographic with 52 per cent Saudi nationals now constitute 25 per cent followed by Indian with 10 per cent and Pakistanis with four per cent. The rest comprises investors from the GCC region Europe and China. Location infrastructure amenities and most importantly the resulting rental yields and value appreciation are the determining factors in the purchase decision-making processes of Saudis said an Azizi spokesman. Azizi Developments projects all of which are based on extensive research to determine Dubai s most sought-after locations with the most promising ROIs have proven to be a popular choice among investors from Saudi Arab...
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Azizi Developments one of the leading private developers in the UAE recorded an eight per cent increase in sales to investors from Saudi Arabia between 2018 and 2019. While UAE nationals still make up the largest customer demographic with 52 per cent Saudi nationals now constitute 25 per cent followed by Indian with 10 per cent and Pakistanis with four per cent. The rest comprises investors from the GCC region Europe and China. Location infrastructure amenities and most importantly the resulting rental yields and value appreciation are the determining factors in the purchase decision-making processes of Saudis said an Azizi spokesman. Azizi Developments projects all of which are based on extensive research to determine Dubai s most sought-after locations with the most promising ROIs have proven to be a popular choice among investors from Saudi Arab...
Zoomlion Heavy Industry Science & Technology Company will highlight 32 intelligent products from six categories that showcases the brand s strength and innovative achievements at a major show in Beijing China. The comprehensive array of Zoomlion s products will be displayed at the 15th China Beijing International Construction Machinery Building Material Machines and Mining Machines Exhibition & Seminar (BICES 2019) from September 4 to 7. The products will include new generation earthmoving equipment industry-leading aerial work platform concrete machinery that meets China s sixth stage national emissions standards as well as engineering hoisting machinery. BICES 2019 will be a stage for Zoomlion to showcase our technological innovations in Intelligent Manufacturing (IM). As a leader in the industry it s our goal to achieve green intelli...
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Zoomlion Heavy Industry Science & Technology Company will highlight 32 intelligent products from six categories that showcases the brand s strength and innovative achievements at a major show in Beijing China. The comprehensive array of Zoomlion s products will be displayed at the 15th China Beijing International Construction Machinery Building Material Machines and Mining Machines Exhibition & Seminar (BICES 2019) from September 4 to 7. The products will include new generation earthmoving equipment industry-leading aerial work platform concrete machinery that meets China s sixth stage national emissions standards as well as engineering hoisting machinery. BICES 2019 will be a stage for Zoomlion to showcase our technological innovations in Intelligent Manufacturing (IM). As a leader in the industry it s our goal to achieve green intelli...
Khazaen Economic City the master developer of the largest public-private-partnership project in Oman has awarded the first construction contract to Galfar Engineering & Contracting for OR9.2 million ( 24 million). Under the contract Galfar will develop 10 km of asphalt roads a streetlight network 15 km of storm water channels and a 22-km potable water network including the main water transmission line and storage tanks. Work is expected to begin in October and the project is scheduled for completion within 12 months. Khalid Awadh Al-Balushi chief executive officer of Khazan Economic City said: The development of a high-quality infrastructure network at Khazaen Economic City demonstrates our commitment to this project and will serve as an important catalyst for growth - attracting investors and tenants alike. The first phase of development ...
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Khazaen Economic City the master developer of the largest public-private-partnership project in Oman has awarded the first construction contract to Galfar Engineering & Contracting for OR9.2 million ( 24 million). Under the contract Galfar will develop 10 km of asphalt roads a streetlight network 15 km of storm water channels and a 22-km potable water network including the main water transmission line and storage tanks. Work is expected to begin in October and the project is scheduled for completion within 12 months. Khalid Awadh Al-Balushi chief executive officer of Khazan Economic City said: The development of a high-quality infrastructure network at Khazaen Economic City demonstrates our commitment to this project and will serve as an important catalyst for growth - attracting investors and tenants alike. The first phase of development ...
MAG Property Development (MAG PD) the property development arm of MAG Group Holding has appointed China National Chemical Engineering Group Company (CNCEC) for the construction of the first phase of its mega project MAG City in Dubai. The contract worth 500 million (Dh1.8 billion) was awarded during a signing ceremony that took place at CNCEC s headquarters in Beijing China. The ceremony was attended by Dai Hegen chairman of CNCEC and Talal Moafaq Al Gaddah chairman and founder of MAG Group Holding and MAG LD along with other senior management members from both companies. The chief executives for both companies also signed a letter of intent to construct the remaining phases of the project for Dh1.38 billion said a statement. MAG City is located in Mohammed Bin Rashid Al Maktoum City Meydan District 7 a prime location that is close to both Duba...
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MAG Property Development (MAG PD) the property development arm of MAG Group Holding has appointed China National Chemical Engineering Group Company (CNCEC) for the construction of the first phase of its mega project MAG City in Dubai. The contract worth 500 million (Dh1.8 billion) was awarded during a signing ceremony that took place at CNCEC s headquarters in Beijing China. The ceremony was attended by Dai Hegen chairman of CNCEC and Talal Moafaq Al Gaddah chairman and founder of MAG Group Holding and MAG LD along with other senior management members from both companies. The chief executives for both companies also signed a letter of intent to construct the remaining phases of the project for Dh1.38 billion said a statement. MAG City is located in Mohammed Bin Rashid Al Maktoum City Meydan District 7 a prime location that is close to both Duba...
Kanoo Real Estate a fully owned business division of Yusuf bin Ahmed Kanoo Group (YBA Kanoo) has appointed Mohamed AbdulElah Al Kooheji as division chief executive officer. Al Kooheji will now spearhead Kanoo Real Estate efforts to maintain upgrade and expand its diverse portfolio in the GCC. Al Kooheji brings to Kanoo Real Estate more than 13 years of experience in real estate portfolio management and property development having worked in several reputable real estate companies in Bahrain. Most recently he served as CEO of Amlak the Social Insurance Organisation Property Development Company. Faisal Khalid Kanoo president of Kanoo Real Estate said: We are glad to welcome Mr Al Kooheji to our team. Kanoo Real Estate portfolio is spread across the GCC and requires an experienced real estate executive such as Mr Al Kooheji to manage the size and diversity of the po...
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Kanoo Real Estate a fully owned business division of Yusuf bin Ahmed Kanoo Group (YBA Kanoo) has appointed Mohamed AbdulElah Al Kooheji as division chief executive officer. Al Kooheji will now spearhead Kanoo Real Estate efforts to maintain upgrade and expand its diverse portfolio in the GCC. Al Kooheji brings to Kanoo Real Estate more than 13 years of experience in real estate portfolio management and property development having worked in several reputable real estate companies in Bahrain. Most recently he served as CEO of Amlak the Social Insurance Organisation Property Development Company. Faisal Khalid Kanoo president of Kanoo Real Estate said: We are glad to welcome Mr Al Kooheji to our team. Kanoo Real Estate portfolio is spread across the GCC and requires an experienced real estate executive such as Mr Al Kooheji to manage the size and diversity of the po...
Gulf Warehousing Company (GWC) Qatar s leading logistics provider recently welcomed Kithsiri Athulathmudali Ambassador of Sri Lanka to Qatar at the Logistics Village Qatar (LVQ) during a site tour to get a general idea about GWC s offering and the Sri Lankan employees there. The visit included a tour of the landmark integrated logistics hub offering bespoke supply chain logistics and warehousing solutions spanning 1-million sq m infrastructure; the largest logistics hub of its kind in the region said a statement from the company. Athulathmudali was received by Tia Prang senior director of human resources and Mohammad Daoud senior manager of corporate communications as well as a number of officials from both parties. About 15 km off the Hamad Port 18 km from Hamad International Airport just 2 km from Doha s main industrial area and immediately accessible through the country s G-Ring Road GWC s ...
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Gulf Warehousing Company (GWC) Qatar s leading logistics provider recently welcomed Kithsiri Athulathmudali Ambassador of Sri Lanka to Qatar at the Logistics Village Qatar (LVQ) during a site tour to get a general idea about GWC s offering and the Sri Lankan employees there. The visit included a tour of the landmark integrated logistics hub offering bespoke supply chain logistics and warehousing solutions spanning 1-million sq m infrastructure; the largest logistics hub of its kind in the region said a statement from the company. Athulathmudali was received by Tia Prang senior director of human resources and Mohammad Daoud senior manager of corporate communications as well as a number of officials from both parties. About 15 km off the Hamad Port 18 km from Hamad International Airport just 2 km from Doha s main industrial area and immediately accessible through the country s G-Ring Road GWC s ...
Heavy Engineering Industries and Shipbuilding (HEISCO) said one of its subsidiaries Gulf Dredging and General Contracting Company has been awarded a tender worth KD5.7 million ( 18.67 million) by Kuwait s Electricity and water Ministry. HEISCO is a major engineering procurement and construction (EPC) contracting company based in Kuwait with a diversified range of business in oil and gas petrochemicals power pressure equipment manufacturing shipbuilding and repair dredging and marine construction major civil construction maintenance and other industrial services including heavy industry projects. The company has a 99.92 per cent stake in Gulf Dredging and General Contracting Company. The tender is in favour of Kuwait s electricity and water ministry carrying a maturity period of 36 months said HEISCO in its filing to the Kuwaiti bourse. /d...
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Heavy Engineering Industries and Shipbuilding (HEISCO) said one of its subsidiaries Gulf Dredging and General Contracting Company has been awarded a tender worth KD5.7 million ( 18.67 million) by Kuwait s Electricity and water Ministry. HEISCO is a major engineering procurement and construction (EPC) contracting company based in Kuwait with a diversified range of business in oil and gas petrochemicals power pressure equipment manufacturing shipbuilding and repair dredging and marine construction major civil construction maintenance and other industrial services including heavy industry projects. The company has a 99.92 per cent stake in Gulf Dredging and General Contracting Company. The tender is in favour of Kuwait s electricity and water ministry carrying a maturity period of 36 months said HEISCO in its filing to the Kuwaiti bourse. /d...
Kale Logistics Solutions a leading provider of IT solutions for the logistics industry has been awarded the Best Air Cargo IT Solution provider award by the Air Cargo Agents Association (ACAAI) at the ACAAI Air Cargo Awards 2019. The award ceremony took place on earlier this month at The Lalit Great Eastern Kolkata India. Kale Logistics Solutions was awarded for its contribution and initiatives in trade facilitation and for empowering the global air cargo industry through their state-of-the-art technology solutions such as the next-generation Airport Cargo Community System (ACS) and Airport Cargo Management System Galaxy said a statement from the company. Kale Logistics Solutions trade facilitation platforms are designed to offer several fulfilment mechanisms as per the guidelines around Trade Facilitation Agreement outlined by the World Trade Organisation (WTO). Kale Logistics Tr...
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Kale Logistics Solutions a leading provider of IT solutions for the logistics industry has been awarded the Best Air Cargo IT Solution provider award by the Air Cargo Agents Association (ACAAI) at the ACAAI Air Cargo Awards 2019. The award ceremony took place on earlier this month at The Lalit Great Eastern Kolkata India. Kale Logistics Solutions was awarded for its contribution and initiatives in trade facilitation and for empowering the global air cargo industry through their state-of-the-art technology solutions such as the next-generation Airport Cargo Community System (ACS) and Airport Cargo Management System Galaxy said a statement from the company. Kale Logistics Solutions trade facilitation platforms are designed to offer several fulfilment mechanisms as per the guidelines around Trade Facilitation Agreement outlined by the World Trade Organisation (WTO). Kale Logistics Tr...
The market for construction additives such as superplasticisers and iron-oxide pigments is expected to expand at a CAGR of 6.6 per cent from 2018 2025 said growth partnership company Frost & Sullivan in a new report. A global uptick in construction activities stringent building codes and environmental standards and increasing usage of concrete admixtures are key factors driving the global construction additives market revenues towards 16.97 billion by 2025 it added. With a constantly evolving regulatory landscape manufacturers should look towards adopting more environmentally sustainable and regulatory-compliant additive solutions and manufacturing processes said Prathmesh Limaye senior analyst Chemicals & Materials in Infrastructure & Mobility. This will enable participants to attract customers that are focused on high durability and environmental sustainability as well as harness lucrati...
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The market for construction additives such as superplasticisers and iron-oxide pigments is expected to expand at a CAGR of 6.6 per cent from 2018 2025 said growth partnership company Frost & Sullivan in a new report. A global uptick in construction activities stringent building codes and environmental standards and increasing usage of concrete admixtures are key factors driving the global construction additives market revenues towards 16.97 billion by 2025 it added. With a constantly evolving regulatory landscape manufacturers should look towards adopting more environmentally sustainable and regulatory-compliant additive solutions and manufacturing processes said Prathmesh Limaye senior analyst Chemicals & Materials in Infrastructure & Mobility. This will enable participants to attract customers that are focused on high durability and environmental sustainability as well as harness lucrati...
The July hotel pipeline data released by marketplace insights provider STR showed a total of 427 projects accounting for 123 742 rooms in construction in the Middle East and 138 projects and 25 986 rooms in construction in Africa. The Middle East total represented a 2.1 per cent year-over-year increase in the number of rooms in the final phase of the development pipeline. The region reported an additional 30 240 rooms in the final planning stage and 45 948 rooms in planning. The Africa room construction total was down 1.8 per cent year over year. Africa also showed 17 485 rooms in final planning and 23 954 rooms in planning. Between the Middle East and Africa four countries showed more than 4 000 rooms under construction. The United Arab Emirates led with 54 438 rooms which represented 31.8 per cent of the market s existing supply followed by Saudi Arabia (41 207 rooms 40.5 per cent of existing supply). 1. ...
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The July hotel pipeline data released by marketplace insights provider STR showed a total of 427 projects accounting for 123 742 rooms in construction in the Middle East and 138 projects and 25 986 rooms in construction in Africa. The Middle East total represented a 2.1 per cent year-over-year increase in the number of rooms in the final phase of the development pipeline. The region reported an additional 30 240 rooms in the final planning stage and 45 948 rooms in planning. The Africa room construction total was down 1.8 per cent year over year. Africa also showed 17 485 rooms in final planning and 23 954 rooms in planning. Between the Middle East and Africa four countries showed more than 4 000 rooms under construction. The United Arab Emirates led with 54 438 rooms which represented 31.8 per cent of the market s existing supply followed by Saudi Arabia (41 207 rooms 40.5 per cent of existing supply). 1. ...
Saudi Arabia s logistics and warehousing market is expected to register a positive compound annual growth rate (CAGR) of 3.3 per cent in terms of revenue and reach over 17.5 billion during the forecast period of 2018-2023 according to a recent report from Ken Research a leading market research and data analytics company. The report is titled Saudi Arabia Logistics and Warehousing Market Outlook to 2023 (Second Edition) Expected Recovery in Demand Growth with Rising Infrastructure Spending Government Reforms and Surge in Trade . The report believes that the logistics industry is in its growth stage and is projected to expand in future through increasing government investment to improve the nation s infrastructure and rising demand for express deliveries to meet the growing consumption requirement in the country. The report covers logistics infrastructure in the country cross comparison of the market ...
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Saudi Arabia s logistics and warehousing market is expected to register a positive compound annual growth rate (CAGR) of 3.3 per cent in terms of revenue and reach over 17.5 billion during the forecast period of 2018-2023 according to a recent report from Ken Research a leading market research and data analytics company. The report is titled Saudi Arabia Logistics and Warehousing Market Outlook to 2023 (Second Edition) Expected Recovery in Demand Growth with Rising Infrastructure Spending Government Reforms and Surge in Trade . The report believes that the logistics industry is in its growth stage and is projected to expand in future through increasing government investment to improve the nation s infrastructure and rising demand for express deliveries to meet the growing consumption requirement in the country. The report covers logistics infrastructure in the country cross comparison of the market ...
Chinese expertise across the logistics eco-chain will be highlighted at the Materials Handling Middle East the region s dedicated warehousing intralogistics and supply chain solutions show to be held next month in Dubai UAE. The event will take place from September 3 to 5 at the Dubai World Trade Centre (DWTC). China already the UAE s second largest trading partner with about 6 000 Chinese companies operating in the Emirates will have a dedicated pavilion featuring around 30 of the country s biggest names. Chinese heavyweights include NobleLift Kaixun Banyitong Science and Phoebese Industrial Co among others. Chinese involvement in event follows the UAE and China recently signing 3.4 billion worth of new Belt and Road deals which are expected to boost an existing 53 billion worth of bilateral trade to 70 billion next year. The deals include Chinese plans for a 5.57 million sq m storage and...
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Chinese expertise across the logistics eco-chain will be highlighted at the Materials Handling Middle East the region s dedicated warehousing intralogistics and supply chain solutions show to be held next month in Dubai UAE. The event will take place from September 3 to 5 at the Dubai World Trade Centre (DWTC). China already the UAE s second largest trading partner with about 6 000 Chinese companies operating in the Emirates will have a dedicated pavilion featuring around 30 of the country s biggest names. Chinese heavyweights include NobleLift Kaixun Banyitong Science and Phoebese Industrial Co among others. Chinese involvement in event follows the UAE and China recently signing 3.4 billion worth of new Belt and Road deals which are expected to boost an existing 53 billion worth of bilateral trade to 70 billion next year. The deals include Chinese plans for a 5.57 million sq m storage and...
Government initiatives have increased the number of pilgrims visiting Makkah which has had a positive trickling down effect on all of the city s real estate sectors said global real estate consultancy firm CBRE in a new report. Residential Makkah has reported growth in the residential subdivision developments across the city according to CBRE s H1 2019 Makkah Market Snapshot . This trend is most notable in projects such as Aali Makkah. There has also been an increase in the number of residential communities in the city such as the Tilal Al Naseem Complex and Al Awali Hill following concerns about a shortage of affordable housing in the city. In the short-term residential demand will continue to be focused on smaller size units. Furthermore unplanned settlements are now being redeveloped to improve quality of life as well as stimulate demand in this particular sector. CBRE&rsqu...
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Government initiatives have increased the number of pilgrims visiting Makkah which has had a positive trickling down effect on all of the city s real estate sectors said global real estate consultancy firm CBRE in a new report. Residential Makkah has reported growth in the residential subdivision developments across the city according to CBRE s H1 2019 Makkah Market Snapshot . This trend is most notable in projects such as Aali Makkah. There has also been an increase in the number of residential communities in the city such as the Tilal Al Naseem Complex and Al Awali Hill following concerns about a shortage of affordable housing in the city. In the short-term residential demand will continue to be focused on smaller size units. Furthermore unplanned settlements are now being redeveloped to improve quality of life as well as stimulate demand in this particular sector. CBRE&rsqu...
The Airport Belgrade Catering (ABC) company which was fully acquired by Emirati-owned Cirta Group a group of companies supported by government entity Khalifa Fund for Enterprise Development (KFED) has secured the biggest deal with the country s flag carrier Air Serbia. Under the terms of the agreement ABC will provide the Serbian airline company in which Etihad Airways has 49 per cent ownership stake with catering services and logistics solutions for eight years said the statement. The deal is renewable for a total period of 15 years it added. Abdulla Al Shammari the chairman of the Cirta Group and Duncan Naysmith Chief Executive Officer of Air Serbia signed the agreement in the presence of Ibrahim Al Darmaki the UAE Embassy representative who attended the event on behalf of UAE Ambassador to Serbia Mubarak Saeed Ahmed Barasheed Al Dhaheri and staff...
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The Airport Belgrade Catering (ABC) company which was fully acquired by Emirati-owned Cirta Group a group of companies supported by government entity Khalifa Fund for Enterprise Development (KFED) has secured the biggest deal with the country s flag carrier Air Serbia. Under the terms of the agreement ABC will provide the Serbian airline company in which Etihad Airways has 49 per cent ownership stake with catering services and logistics solutions for eight years said the statement. The deal is renewable for a total period of 15 years it added. Abdulla Al Shammari the chairman of the Cirta Group and Duncan Naysmith Chief Executive Officer of Air Serbia signed the agreement in the presence of Ibrahim Al Darmaki the UAE Embassy representative who attended the event on behalf of UAE Ambassador to Serbia Mubarak Saeed Ahmed Barasheed Al Dhaheri and staff...
The Dubai Land Department (DLD) through its regulatory arm Real Estate Regulatory Authority (Rera) launched a first-of-its-kind electronic system titled Mollak that incorporates innovations to ensure that justice and transparency are maintained. Mollak provides a new and integrated system to monitor accounts related to service charges in these projects by relying on the financial accounts operating according to the mechanism of the escrow account. The system operates across a range of stakeholders in managing co-owned properties. It also operates within the real estate unit owners database and the database of real estate units registered and approved by DLD where no user may change the data. The DLD prioritises customer satisfaction and happiness and in line with national strategies has developed this system to help co-owned property owners and ensure ...
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The Dubai Land Department (DLD) through its regulatory arm Real Estate Regulatory Authority (Rera) launched a first-of-its-kind electronic system titled Mollak that incorporates innovations to ensure that justice and transparency are maintained. Mollak provides a new and integrated system to monitor accounts related to service charges in these projects by relying on the financial accounts operating according to the mechanism of the escrow account. The system operates across a range of stakeholders in managing co-owned properties. It also operates within the real estate unit owners database and the database of real estate units registered and approved by DLD where no user may change the data. The DLD prioritises customer satisfaction and happiness and in line with national strategies has developed this system to help co-owned property owners and ensure ...
UAE-based DP World a global operator of shipping terminals said it has signed two preliminary agreements with Indonesia s leading conglomerate Maspion Group for the development of a 1.2-billion port and industrial logistics park in East Java. It is the first joint venture of its kind in the Indonesian transportation sector involving a private sector partnership between an FDI partner and a private sector Indonesian company in Maspion within the context of co-operation in maritime services with the state-owned maritime services operator Pelindo III. The exchange of agreements was witnessed by HH Sheikh Mohammed bin Zayed Al Nahyan Crown Prince of Abu Dhabi and Deputy Supreme Commander of UAE Armed Forces and Joko Widodo President of Indonesia. Also present at the signing ceremony were the Indonesian Minister of Transportation Budi Karya Sumadi and Minister of State-Owned Enterprises Rini Soewarno. Two ...
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UAE-based DP World a global operator of shipping terminals said it has signed two preliminary agreements with Indonesia s leading conglomerate Maspion Group for the development of a 1.2-billion port and industrial logistics park in East Java. It is the first joint venture of its kind in the Indonesian transportation sector involving a private sector partnership between an FDI partner and a private sector Indonesian company in Maspion within the context of co-operation in maritime services with the state-owned maritime services operator Pelindo III. The exchange of agreements was witnessed by HH Sheikh Mohammed bin Zayed Al Nahyan Crown Prince of Abu Dhabi and Deputy Supreme Commander of UAE Armed Forces and Joko Widodo President of Indonesia. Also present at the signing ceremony were the Indonesian Minister of Transportation Budi Karya Sumadi and Minister of State-Owned Enterprises Rini Soewarno. Two ...
Leading building materials companies including Haji Hassan Group Universal Rolling Al Nosaif Marble Paramount Doors Shade Technology and AK Al Moayyed have been shortlisted for the Best Stand Design awards at Gulf Construction Expo 2019. Gulf Construction Expo the Northern Gulf s leading expo for construction and building materials is held annually in conjunction with two other major events - the Gulf Property Show and Interiors Expo - thus providing the biggest integrated business-to-business showcase for the construction interiors and property sectors ever to be staged in the Northern Gulf. This year s event kicked off on April 23 at the Bahrain International Exhibition and Convention Centre under the patronage of HRH Prince Khalifa bin Salman Al Khalifa Prime Minister of the Kingdom of Bahrain said the event organiser Hilal Conferences and Exhibitions (HCE). The criteria for the awards has been set at creativity b...
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Leading building materials companies including Haji Hassan Group Universal Rolling Al Nosaif Marble Paramount Doors Shade Technology and AK Al Moayyed have been shortlisted for the Best Stand Design awards at Gulf Construction Expo 2019. Gulf Construction Expo the Northern Gulf s leading expo for construction and building materials is held annually in conjunction with two other major events - the Gulf Property Show and Interiors Expo - thus providing the biggest integrated business-to-business showcase for the construction interiors and property sectors ever to be staged in the Northern Gulf. This year s event kicked off on April 23 at the Bahrain International Exhibition and Convention Centre under the patronage of HRH Prince Khalifa bin Salman Al Khalifa Prime Minister of the Kingdom of Bahrain said the event organiser Hilal Conferences and Exhibitions (HCE). The criteria for the awards has been set at creativity b...
Sharjah is fast emerging as a leading global investment destination with real estate transactions worth Dh14.7 billion ( 4 billion) recorded for the first half of 2019 according to a report by Sharjah Real Estate Registration Directorate . A total of 27 588 transactions were recorded during the period covering 24 million sq ft area stated the Directorate in its report. Of these most of the deals worth over Dh6 billion were inked in May it added. According to the H1 report up to 1 893 sales transactions and 1 588 initial sale contracts were recorded in the first six months. In Sharjah city alone sales transactions stood at 1 704. These transactions covered 91 areas led by Muwaileh Commercial Area followed by Al Khan and Al Nahda which ranked third. However the Muwaileh Commercial Area ranked first in the city of Sharjah in terms of the number of dealings it added. d...
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Sharjah is fast emerging as a leading global investment destination with real estate transactions worth Dh14.7 billion ( 4 billion) recorded for the first half of 2019 according to a report by Sharjah Real Estate Registration Directorate . A total of 27 588 transactions were recorded during the period covering 24 million sq ft area stated the Directorate in its report. Of these most of the deals worth over Dh6 billion were inked in May it added. According to the H1 report up to 1 893 sales transactions and 1 588 initial sale contracts were recorded in the first six months. In Sharjah city alone sales transactions stood at 1 704. These transactions covered 91 areas led by Muwaileh Commercial Area followed by Al Khan and Al Nahda which ranked third. However the Muwaileh Commercial Area ranked first in the city of Sharjah in terms of the number of dealings it added. d...
While most sectors across UAE s real estate market remained challenged during the first half the various government initiatives launched recently are expected to boost sentiment and drive demand over the coming months said a real estate expert. In the year ahead market performance will heavily depend on how quickly these initiatives have an impact outlines JLL s Q2 2019 UAE Market report. The general economic environment has also shown a slight uplift with UAE GDP growing by 2.2% in the first quarter of 2019 supported by a robust government according to the Central Bank of UAE. In Q2 the UAE government announced a number of initiatives with the aim of driving economic diversification and stimulating weakened market demand. The long-awaited freehold law was finally enacted in Abu Dhabi allowing foreigners to own land and property within the emirate s investment areas on a freehold basis f...
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While most sectors across UAE s real estate market remained challenged during the first half the various government initiatives launched recently are expected to boost sentiment and drive demand over the coming months said a real estate expert. In the year ahead market performance will heavily depend on how quickly these initiatives have an impact outlines JLL s Q2 2019 UAE Market report. The general economic environment has also shown a slight uplift with UAE GDP growing by 2.2% in the first quarter of 2019 supported by a robust government according to the Central Bank of UAE. In Q2 the UAE government announced a number of initiatives with the aim of driving economic diversification and stimulating weakened market demand. The long-awaited freehold law was finally enacted in Abu Dhabi allowing foreigners to own land and property within the emirate s investment areas on a freehold basis f...
The UAE s new freehold law coupled with the introduction of a 10-year residency visa are expected to strengthen many areas of the economy particularly the real estate sector said global real estate firm Chestertons in a new report. Slow economic conditions have resulted in short term price and rental declines in the capital s residential real estate market added Chestertons latest Observer: Abu Dhabi Market Report Q2 2019. Short term price and rental costs have experienced downward corrections across the board a continuation of the trend experienced in Q1 with average sales prices for apartments and villas declining 5 per cent and 3 per cent respectively in Q2. In the rental market average rental rates were down 6 per cent for apartments and 3 per cent for villas. Nick Witty managing director Chestertons Mena said: Downward price corrections in this quarter are expected to continue throughout the rest ...
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The UAE s new freehold law coupled with the introduction of a 10-year residency visa are expected to strengthen many areas of the economy particularly the real estate sector said global real estate firm Chestertons in a new report. Slow economic conditions have resulted in short term price and rental declines in the capital s residential real estate market added Chestertons latest Observer: Abu Dhabi Market Report Q2 2019. Short term price and rental costs have experienced downward corrections across the board a continuation of the trend experienced in Q1 with average sales prices for apartments and villas declining 5 per cent and 3 per cent respectively in Q2. In the rental market average rental rates were down 6 per cent for apartments and 3 per cent for villas. Nick Witty managing director Chestertons Mena said: Downward price corrections in this quarter are expected to continue throughout the rest ...
The global construction aggregates market was pegged at more than 331 billion in terms of value at the end of 2019 and is set to hit nearly 623 billion in the next 10 years growing at a CAGR of 6 per cent according to a report by leading consulting firm Persistence Market Research. This is mainly due to the initiative of regional governments in emerging countries who are focusing on achieving continuous upgradation to address infrastructural shortfalls and improve education and healthcare systems and water and sanitation. In line with this agenda respective governments are placing importance on implementing solutions for sustainable mining and increasing productivity & automation which has resulted in growth in the construction aggregates market. This is expected to enhance the demand for construction aggregates across the globe stated the report. ...
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The global construction aggregates market was pegged at more than 331 billion in terms of value at the end of 2019 and is set to hit nearly 623 billion in the next 10 years growing at a CAGR of 6 per cent according to a report by leading consulting firm Persistence Market Research. This is mainly due to the initiative of regional governments in emerging countries who are focusing on achieving continuous upgradation to address infrastructural shortfalls and improve education and healthcare systems and water and sanitation. In line with this agenda respective governments are placing importance on implementing solutions for sustainable mining and increasing productivity & automation which has resulted in growth in the construction aggregates market. This is expected to enhance the demand for construction aggregates across the globe stated the report. ...
The Middle East region has been faring well in terms of transportation and logistical efficiencies and performance on the global scale with its logistics market set to reach 66.3 billion by the end of 2020 according to a new report. The report has been released by Swisslog Middle East a global leader in robotic data-driven and flexible automated solutions ahead of Materials Handling Middle East the region s dedicated trade show for warehousing intralogistics and supply chain solutions. Running from September 3 to 5 at Dubai World Trade Centre (DWTC) the 10th edition of the biennial event will welcome more than 120 exhibitors from 20 countries. Over the years the event has evolved into a futuristic showcase of robotics and automation for its 2019 edition as the 4th Industrial Revolution or Industry 4.0 continues to reshape the region s industrial landscape. It will put spotlight on the latest ...
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The Middle East region has been faring well in terms of transportation and logistical efficiencies and performance on the global scale with its logistics market set to reach 66.3 billion by the end of 2020 according to a new report. The report has been released by Swisslog Middle East a global leader in robotic data-driven and flexible automated solutions ahead of Materials Handling Middle East the region s dedicated trade show for warehousing intralogistics and supply chain solutions. Running from September 3 to 5 at Dubai World Trade Centre (DWTC) the 10th edition of the biennial event will welcome more than 120 exhibitors from 20 countries. Over the years the event has evolved into a futuristic showcase of robotics and automation for its 2019 edition as the 4th Industrial Revolution or Industry 4.0 continues to reshape the region s industrial landscape. It will put spotlight on the latest ...
Bahrain s Real Estate Regulatory Authority (Rera) has made it mandatory for real estate valuers to obtain a licence for operation in the kingdom. The real estate watchdog has set a November 2 deadline for submitting application for valuer licences. As per the new Rera rule all real estate valuers will be required to participate in the Rera Continuous Development Programme (CPD) to qualify for and renew their valuer licence on an annual basis said a statement from Rera. The first Mandatory training course will commence on July 21 at BIBF it stated. Rera CEO Shaikh Mohammed bin Khalifa Al Khalifa said: When Rera was launched in March last year the initial focus was on the licensing of developers off-plan sales developments real estate brokers and sales agents. In the fourth quarter of 2018 the licensing requirements and regulations were extended to Property Managers and Owners Association Managers &qu...
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Bahrain s Real Estate Regulatory Authority (Rera) has made it mandatory for real estate valuers to obtain a licence for operation in the kingdom. The real estate watchdog has set a November 2 deadline for submitting application for valuer licences. As per the new Rera rule all real estate valuers will be required to participate in the Rera Continuous Development Programme (CPD) to qualify for and renew their valuer licence on an annual basis said a statement from Rera. The first Mandatory training course will commence on July 21 at BIBF it stated. Rera CEO Shaikh Mohammed bin Khalifa Al Khalifa said: When Rera was launched in March last year the initial focus was on the licensing of developers off-plan sales developments real estate brokers and sales agents. In the fourth quarter of 2018 the licensing requirements and regulations were extended to Property Managers and Owners Association Managers &qu...
WTS Dhruva Consultants a part of Dhruva Advisors - India s leading tax firm have published a one-of-a-kind comprehensive guide on VAT implications on the Shipping and Logistics Sector for the logistics firms. WTS Dhruva Consultants is a boutique tax advisory firm and Federal Tax Authority (FTA) registered tax agent with presence in the UAE Saudi Arabia and Bahrain. This is their second publication the first being the VAT publication on the healthcare sector in the UAE said a statement from the firm. Over the past two years WTS Dhruva Consultants have been working closely with large conglomerates across the GCC region and have assisted in VAT implementation VAT compliance automation support VAT structuring litigation support and more it said. The firm is positive that as VAT regulations are evolving across the region it is imperative for businesses to align the business processes with the tax p...
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WTS Dhruva Consultants a part of Dhruva Advisors - India s leading tax firm have published a one-of-a-kind comprehensive guide on VAT implications on the Shipping and Logistics Sector for the logistics firms. WTS Dhruva Consultants is a boutique tax advisory firm and Federal Tax Authority (FTA) registered tax agent with presence in the UAE Saudi Arabia and Bahrain. This is their second publication the first being the VAT publication on the healthcare sector in the UAE said a statement from the firm. Over the past two years WTS Dhruva Consultants have been working closely with large conglomerates across the GCC region and have assisted in VAT implementation VAT compliance automation support VAT structuring litigation support and more it said. The firm is positive that as VAT regulations are evolving across the region it is imperative for businesses to align the business processes with the tax p...
The real estate sector in Abu Dhabi has witnessed more than 10 000 property transactions in the first half of the year thus generating a total of Dh31 billion ( 8.4 billion) across the emirate according to the Department of Urban Planning and Municipalities (DPM). A total of 6 374 property transactions were generated valued at more than Dh12.5 billion stated the DPM in its first biannual report on real estate transactions in Abu Dhabi for the first half. The volume of mortgage transactions reflects the confidence of banks in the sector with 3 712 mortgage transactions worth over Dh18.5 billion it stated. In terms of geographic locations where sales activity was the most dynamic Al Reem Island topped the list with transactions worth more than Dh4.371 billion followed by Al Reef area with Dh1.788 billion and Yas Island with Dh1.597 billion said the DPM report. Al Shamkha City with transactions worth Dh636 million wa...
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The real estate sector in Abu Dhabi has witnessed more than 10 000 property transactions in the first half of the year thus generating a total of Dh31 billion ( 8.4 billion) across the emirate according to the Department of Urban Planning and Municipalities (DPM). A total of 6 374 property transactions were generated valued at more than Dh12.5 billion stated the DPM in its first biannual report on real estate transactions in Abu Dhabi for the first half. The volume of mortgage transactions reflects the confidence of banks in the sector with 3 712 mortgage transactions worth over Dh18.5 billion it stated. In terms of geographic locations where sales activity was the most dynamic Al Reem Island topped the list with transactions worth more than Dh4.371 billion followed by Al Reef area with Dh1.788 billion and Yas Island with Dh1.597 billion said the DPM report. Al Shamkha City with transactions worth Dh636 million wa...
Global market for 3D printing in construction sector (including various technologies that use 3D printing as a core method to fabricate buildings or construction components) is poised for solid growth over the next six years with a compoud annual growth rate (CAGR) of over 16 per cent by 2025 according to a new report. The key 3D printing methods used at construction scale include extrusion (concrete/cement wax foam and polymers) powder bonding (polymer bond reactive bond sintering) and additive welding stated Report Consultant a high-end research group. Alternative terms are also in use such as Large Scale Additive Manufacturing (LSAM) or Freeform Construction (FC) also to refer to sub-groups such as 3D Concrete used to refer to concrete extrusion technologies it stated. The major players in this field are: Yingchuang Building Technique (Winsun) Xtreee Monolite UK Apis Cor Centro Sviluppo Progetti (CSP) Cybe Constru...
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Global market for 3D printing in construction sector (including various technologies that use 3D printing as a core method to fabricate buildings or construction components) is poised for solid growth over the next six years with a compoud annual growth rate (CAGR) of over 16 per cent by 2025 according to a new report. The key 3D printing methods used at construction scale include extrusion (concrete/cement wax foam and polymers) powder bonding (polymer bond reactive bond sintering) and additive welding stated Report Consultant a high-end research group. Alternative terms are also in use such as Large Scale Additive Manufacturing (LSAM) or Freeform Construction (FC) also to refer to sub-groups such as 3D Concrete used to refer to concrete extrusion technologies it stated. The major players in this field are: Yingchuang Building Technique (Winsun) Xtreee Monolite UK Apis Cor Centro Sviluppo Progetti (CSP) Cybe Constru...
The total value of property transactions in Oman in the first five months fell 14 per cent to RO1.09 billion ( 2.82 billion) from RO1.26 billion ( 3.26 billion) for the same period last year according to a report. The number of properties issued till the end of May 2019 stood at 94 171 down 8.8 per cent from the end of May 2018 when 103 211 properties were issued reported Oman Observer citing the preliminary statistics issued by National Centre for Statistics and information (NCSI). Of the total traded value for the five-month period RO418.9 million worth of transactions were sales contracts while RO662.4 million transactions were mortgage deals it said. As many as 25 322 sales contracts were executed in May against 26 894 contracts during the same period in 2018 it stated. However the total number of mortgage contracts fell by 7.4 per cen...
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The total value of property transactions in Oman in the first five months fell 14 per cent to RO1.09 billion ( 2.82 billion) from RO1.26 billion ( 3.26 billion) for the same period last year according to a report. The number of properties issued till the end of May 2019 stood at 94 171 down 8.8 per cent from the end of May 2018 when 103 211 properties were issued reported Oman Observer citing the preliminary statistics issued by National Centre for Statistics and information (NCSI). Of the total traded value for the five-month period RO418.9 million worth of transactions were sales contracts while RO662.4 million transactions were mortgage deals it said. As many as 25 322 sales contracts were executed in May against 26 894 contracts during the same period in 2018 it stated. However the total number of mortgage contracts fell by 7.4 per cen...
The Registration Authority of Abu Dhabi Global Market (ADGM) has signed a cooperation agreement with the Department of Land and Real Estate Regulation in Ajman (ARRA) to foster new business opportunities and strengthen closer economic integration between the two emirates. As per the deal companies registered in ADGM will be able to own property in freehold areas within ARRA s legal framework and jurisdiction. Also firms and entities registered and licensed in ADGM including but not limited to special purpose vehicles (SPV) ADGM Foundation and Real Estate Investment Trusts established in ADGM will be able to own lands/properties in Ajman after obtaining the no objection certificate (NOC) from the ADGM registration authority. Ownership of Ajman lands and properties by ADGM registered companies and entities will be in line with the Ajman laws and regulations Our efforts to facilitate business operations for customers and r...
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The Registration Authority of Abu Dhabi Global Market (ADGM) has signed a cooperation agreement with the Department of Land and Real Estate Regulation in Ajman (ARRA) to foster new business opportunities and strengthen closer economic integration between the two emirates. As per the deal companies registered in ADGM will be able to own property in freehold areas within ARRA s legal framework and jurisdiction. Also firms and entities registered and licensed in ADGM including but not limited to special purpose vehicles (SPV) ADGM Foundation and Real Estate Investment Trusts established in ADGM will be able to own lands/properties in Ajman after obtaining the no objection certificate (NOC) from the ADGM registration authority. Ownership of Ajman lands and properties by ADGM registered companies and entities will be in line with the Ajman laws and regulations Our efforts to facilitate business operations for customers and r...
The Dubai Land Department (DLD) has announced the launch of the Real Estate Investment Opportunities (REIOs) initiative aimed at helping increase the share of investors in Dubai s real estate market s investments in global real estate portfolios besides strengthening the emirate s investment position and competitiveness and attracting new investments in the real estate sector. It will also help find new ways to attract real estate investment to new categories in society create innovative investment ideas and provide a competitive environment that allows developers to create competitive marketing initiatives and programmes said the statement from DLD. The newly-launched project was adopted as a catalyst for Dubai s real estate sector based on the outcomes of the Innovation Lab 2018. A law is currently being drafted for real estate investment portfolios that is still under accreditation and review by the concerned parties. br...
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The Dubai Land Department (DLD) has announced the launch of the Real Estate Investment Opportunities (REIOs) initiative aimed at helping increase the share of investors in Dubai s real estate market s investments in global real estate portfolios besides strengthening the emirate s investment position and competitiveness and attracting new investments in the real estate sector. It will also help find new ways to attract real estate investment to new categories in society create innovative investment ideas and provide a competitive environment that allows developers to create competitive marketing initiatives and programmes said the statement from DLD. The newly-launched project was adopted as a catalyst for Dubai s real estate sector based on the outcomes of the Innovation Lab 2018. A law is currently being drafted for real estate investment portfolios that is still under accreditation and review by the concerned parties. br...
The combined value of the more than 26 000 construction projects across the GCC has exceeded Dh9.25 trillion ( 2.52 trillion) in June according to a report by BNC Network a key project research and intelligence provider in the Middle East and North Africa (Mena) region. Regional heavyweight Saudi Arabia leads the GCC in the total value of construction projects worth 895.8 billion followed by the UAE with projects valued at 830.6 billion according to the June 2019 Issue of the BNC Projects Journal: The Next Construction Circus Setting the Stage for Growth. In the Journal BNC offers the latest industry news and information along with detailed analysis and the current market outlook of the construction sector which is very crucial for those involved in construction sub-contracting mechanical electrical and plumbing (MEP) as well as building materials supply businesses. The Journal has been created to encapsulate t...
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The combined value of the more than 26 000 construction projects across the GCC has exceeded Dh9.25 trillion ( 2.52 trillion) in June according to a report by BNC Network a key project research and intelligence provider in the Middle East and North Africa (Mena) region. Regional heavyweight Saudi Arabia leads the GCC in the total value of construction projects worth 895.8 billion followed by the UAE with projects valued at 830.6 billion according to the June 2019 Issue of the BNC Projects Journal: The Next Construction Circus Setting the Stage for Growth. In the Journal BNC offers the latest industry news and information along with detailed analysis and the current market outlook of the construction sector which is very crucial for those involved in construction sub-contracting mechanical electrical and plumbing (MEP) as well as building materials supply businesses. The Journal has been created to encapsulate t...
Leading real estate investors brokers and developers from the Middle East Europe and Asia Pacific region will be in Abu Dhabi to showcase their wide spectrum of property developments at the International Real Estate and Investment Show (IREIS) which kicks off on October 30. A leading investment platform and the only real estate event in Abu Dhabi that targets investors and consumers rather than trade visitors IREIS will run at the Abu Dhabi National Exhibition Centre untill November 1. Organised by Dome Exhibitions the three-day event will see regional and international players in the real estate sector highlight an array of immense investment options as well as consultation and financing opportunities. The 11th edition of the IREIS comes at a time when the much-awaited Expo 2020 Dubai is round the corner. According to experts Expo 2020 has boosted the economic activities in Dubai and the UAE further ...
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Leading real estate investors brokers and developers from the Middle East Europe and Asia Pacific region will be in Abu Dhabi to showcase their wide spectrum of property developments at the International Real Estate and Investment Show (IREIS) which kicks off on October 30. A leading investment platform and the only real estate event in Abu Dhabi that targets investors and consumers rather than trade visitors IREIS will run at the Abu Dhabi National Exhibition Centre untill November 1. Organised by Dome Exhibitions the three-day event will see regional and international players in the real estate sector highlight an array of immense investment options as well as consultation and financing opportunities. The 11th edition of the IREIS comes at a time when the much-awaited Expo 2020 Dubai is round the corner. According to experts Expo 2020 has boosted the economic activities in Dubai and the UAE further ...
Sheikh Humaid bin Rashid Al Nuaimi Supreme Council Member and Ruler of Ajman has ordered the construction of an integrated sanitation network for the Sheikh Zayed Housing Complex valued at Dh30 million ( 8.2 million). The project will be monitored by Sheikh Ammar bin Humaid Al Nuaimi Crown Prince of Ajman and Chairman of the Ajman Executive Council and supervised by Sheikh Rashid bin Humaid Al Nuaimi Chairman of the Municipality and Planning Department and Chairman of the Board of Directors of Ajman Sewerage reported Emirates news agency Wam . The network will consist of sanitation pipes pumping stations and pressure pipes and will serve over 769 villas currently under construction in Al Montazah Ajman as well as other future development projects. Ajman Sewerage which will begin constructing the new sewage network as part of its long-term target of collecting sewage water from over 170 000 residences has noted that ...
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Sheikh Humaid bin Rashid Al Nuaimi Supreme Council Member and Ruler of Ajman has ordered the construction of an integrated sanitation network for the Sheikh Zayed Housing Complex valued at Dh30 million ( 8.2 million). The project will be monitored by Sheikh Ammar bin Humaid Al Nuaimi Crown Prince of Ajman and Chairman of the Ajman Executive Council and supervised by Sheikh Rashid bin Humaid Al Nuaimi Chairman of the Municipality and Planning Department and Chairman of the Board of Directors of Ajman Sewerage reported Emirates news agency Wam . The network will consist of sanitation pipes pumping stations and pressure pipes and will serve over 769 villas currently under construction in Al Montazah Ajman as well as other future development projects. Ajman Sewerage which will begin constructing the new sewage network as part of its long-term target of collecting sewage water from over 170 000 residences has noted that ...
Oman s Ministry of Housing has inaugurated a registration system to create a real estate database of Muscat governorate said a report. The economic objectives are to stimulate investment in real estate development and increase the contribution of the construction and real estate development sector reported Muscat daily. The move is aimed at registering buildings and properties under the system. The ministry has alrready sought views on the possible outcomes that could be taken into consideration it stated. The applications will be received from October 1. The system aims to create a comprehensive database of real estate. The new system regulates the relationship between residents of the units located under joint ownership which is subject to the ministry s supervision of the rules regulations control mechanisms a...
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Oman s Ministry of Housing has inaugurated a registration system to create a real estate database of Muscat governorate said a report. The economic objectives are to stimulate investment in real estate development and increase the contribution of the construction and real estate development sector reported Muscat daily. The move is aimed at registering buildings and properties under the system. The ministry has alrready sought views on the possible outcomes that could be taken into consideration it stated. The applications will be received from October 1. The system aims to create a comprehensive database of real estate. The new system regulates the relationship between residents of the units located under joint ownership which is subject to the ministry s supervision of the rules regulations control mechanisms a...
The Netherlands on Tuesday kicked off the construction of its Expo 2020 country pavilion in Dubai with an innovative water harvest. The Dutch pavilion showcases the country s innovation inventiveness and openness. As a symbol of innovation and connection a senior Dutch diplomat made a presentation on water harvesting detailing the Dutch Expo theme Uniting Water Food and Energy thus reflecting the country s knowledge and expertise in the sustainability sector said a statement from the Dutch Consulate in Dubai. Dutch Consul-General and Commissioner-General Hans Sandee presented on behalf of the Dutch Minister for Foreign Trade and Development Cooperation Sigrid Kaag a bottle of water harvested from air in the Netherlands to Najeeb Mohammed Al Ali Executive Director of Expo 2020 Dubai during the ceremony. It is important to realise our responsibility towards our planet and future generations. By showcas...
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The Netherlands on Tuesday kicked off the construction of its Expo 2020 country pavilion in Dubai with an innovative water harvest. The Dutch pavilion showcases the country s innovation inventiveness and openness. As a symbol of innovation and connection a senior Dutch diplomat made a presentation on water harvesting detailing the Dutch Expo theme Uniting Water Food and Energy thus reflecting the country s knowledge and expertise in the sustainability sector said a statement from the Dutch Consulate in Dubai. Dutch Consul-General and Commissioner-General Hans Sandee presented on behalf of the Dutch Minister for Foreign Trade and Development Cooperation Sigrid Kaag a bottle of water harvested from air in the Netherlands to Najeeb Mohammed Al Ali Executive Director of Expo 2020 Dubai during the ceremony. It is important to realise our responsibility towards our planet and future generations. By showcas...
Emerging Markets Property Group (EMPG) the UAE-based pioneering bespoke property solutions provider in emerging markets said its Moroccan unit has acquired real estate portals in Morocco Tunisia and Algeria of Jumia House. Through this acquisition Mubawab the leading property portal in Morocco owned by EMPG will consolidate its position as the leading real estate portal in the region whilst providing entry to the Maghreb region s most promising real estate markets which is home to over 90 million people. The acquisition follows a recent Series D 100-million funding round by EMPG which aims to aggressively grow and establish itself as the most dominant real estate classifieds solution in leading emerging markets including those in the Maghreb region. The group currently employs a workforce of over 2 500 people across the UAE Morocco Tunisia Pakistan Bangladesh Spain and Romania. Its portals receive over 10 million vis...
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Emerging Markets Property Group (EMPG) the UAE-based pioneering bespoke property solutions provider in emerging markets said its Moroccan unit has acquired real estate portals in Morocco Tunisia and Algeria of Jumia House. Through this acquisition Mubawab the leading property portal in Morocco owned by EMPG will consolidate its position as the leading real estate portal in the region whilst providing entry to the Maghreb region s most promising real estate markets which is home to over 90 million people. The acquisition follows a recent Series D 100-million funding round by EMPG which aims to aggressively grow and establish itself as the most dominant real estate classifieds solution in leading emerging markets including those in the Maghreb region. The group currently employs a workforce of over 2 500 people across the UAE Morocco Tunisia Pakistan Bangladesh Spain and Romania. Its portals receive over 10 million vis...
Geodis a leading global supply chain operator has opened its new logistics campus in Douvrin Hauts de France. A team of 300 Geodis employees will be mobilised to primarily serve retail and textile customers in this new 48 000 sq m site said a statement. At this new multi-user installation Geodis provides its partners with comprehensive solutions and services for the reception and storage of goods order preparation and flow management. Quality control services based on customer needs such as the quality control of supplier components or customisation and gift packaging for e-commerce customers are also offered. Frédéric Pasqual Geodis executive vice president Contract Logistics France said: This new campus is part of the modernisation of our warehousing infrastructure. It strengthens our position in Northern France and reinforces our position as a leading logisti...
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Geodis a leading global supply chain operator has opened its new logistics campus in Douvrin Hauts de France. A team of 300 Geodis employees will be mobilised to primarily serve retail and textile customers in this new 48 000 sq m site said a statement. At this new multi-user installation Geodis provides its partners with comprehensive solutions and services for the reception and storage of goods order preparation and flow management. Quality control services based on customer needs such as the quality control of supplier components or customisation and gift packaging for e-commerce customers are also offered. Frédéric Pasqual Geodis executive vice president Contract Logistics France said: This new campus is part of the modernisation of our warehousing infrastructure. It strengthens our position in Northern France and reinforces our position as a leading logisti...
Saudi Arabia s multi-billion dollar Qiddiya Entertainment City project will be entering the construction phase within the next few months reported The Saudi Gazette citing a top official. This year we will complete our plans and finish the primary work on the site and during the coming months we will shift to the construction phase stated its CEO Michael Reininger. Qiddiya is one of the three mega-projects besides the Neom smart-city and the Red Sea Project which was launched by Crown Prince Mohammed bin Salman. It will be located about 40 km from the city centre. It is expected to be the world s largest entertainment city by 2030 with a total area of 334 sq km surpassing Walt Disney World in Florida which is only 110 sq km he stated. The project targets local regional and international tourists and will be Saudi Arabia s pre-eminent entertainment sports and cultural destination ...
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Saudi Arabia s multi-billion dollar Qiddiya Entertainment City project will be entering the construction phase within the next few months reported The Saudi Gazette citing a top official. This year we will complete our plans and finish the primary work on the site and during the coming months we will shift to the construction phase stated its CEO Michael Reininger. Qiddiya is one of the three mega-projects besides the Neom smart-city and the Red Sea Project which was launched by Crown Prince Mohammed bin Salman. It will be located about 40 km from the city centre. It is expected to be the world s largest entertainment city by 2030 with a total area of 334 sq km surpassing Walt Disney World in Florida which is only 110 sq km he stated. The project targets local regional and international tourists and will be Saudi Arabia s pre-eminent entertainment sports and cultural destination ...
Kuwait s property market witnessed solid growth in April with the value of real estate transactions for the month surging to KD385 million ( 1.26 billion) up 33 per cent over last year on the back of the sales of commercial residential and investment properties said a report released by Kuwait Financial House (KFH). The transactions in the residential investment and commercial segments increased in value by 16% 67% and 34% respectively in April compared to the comparative period in 2018 stated KFH in the report. Kuwait s real estate sales stood at KD789 million ( 2.592 billion) in the first quarter of the fiscal year 2019 recording a quarter-on-quarter decline it added. KFH pointed out that the number of transactions soared 31% month-on-month in April the highest level since 2014 recording 819. The value of real estate transactions rose 15% in the first month of the second quarter from KD 336 millio...
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Kuwait s property market witnessed solid growth in April with the value of real estate transactions for the month surging to KD385 million ( 1.26 billion) up 33 per cent over last year on the back of the sales of commercial residential and investment properties said a report released by Kuwait Financial House (KFH). The transactions in the residential investment and commercial segments increased in value by 16% 67% and 34% respectively in April compared to the comparative period in 2018 stated KFH in the report. Kuwait s real estate sales stood at KD789 million ( 2.592 billion) in the first quarter of the fiscal year 2019 recording a quarter-on-quarter decline it added. KFH pointed out that the number of transactions soared 31% month-on-month in April the highest level since 2014 recording 819. The value of real estate transactions rose 15% in the first month of the second quarter from KD 336 millio...
Kale Logistics Solutions a leading provider of IT solutions for the logistics industry is showcasing next-generation regulatory single windows at the ongoing WCO IT/TI Conference & Exhibition 2019 in Baku Azerbaijan. This is in keeping with the company s commitment to catalyse trade facilitation empower ease of doing business and enable trade through single window systems globally said a statement from the company. Across the world customs administrations are posed with significant technological economic and legal changes which necessitate newer approaches to managing administrations it said. Moreover recent industry studies point towards the dramatic impact of trade facilitation on international trade a boost in global trade to the tune of 1 trillion per year by bolstering improvements in border administration throughout the world. Kale Logistics Solutions latest offerings ne...
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Kale Logistics Solutions a leading provider of IT solutions for the logistics industry is showcasing next-generation regulatory single windows at the ongoing WCO IT/TI Conference & Exhibition 2019 in Baku Azerbaijan. This is in keeping with the company s commitment to catalyse trade facilitation empower ease of doing business and enable trade through single window systems globally said a statement from the company. Across the world customs administrations are posed with significant technological economic and legal changes which necessitate newer approaches to managing administrations it said. Moreover recent industry studies point towards the dramatic impact of trade facilitation on international trade a boost in global trade to the tune of 1 trillion per year by bolstering improvements in border administration throughout the world. Kale Logistics Solutions latest offerings ne...
Its boom time for the UAE logistics industry with more and more Chinese companies set to invest over 4 billion in development of giant logistics parks in Abu Dhabi and Dubai said a top official of National Association of Freight and Logistics (NAFL). Founded in Dubai in 1992 NAFL is the first national association of freight forwarders to be established in the Arabian Gulf to bring together the increasing number of freight and logistics service providers in the UAE. Logistics business is in for a boom. Many projects are being built for Expo 2020 and Chinese investors are coming to Abu Dhabi and Dubai remarked Nadia Abdul Aziz President NAFL and Vice President Global Extended Board the International Federation of Freight Forwarders Associations (FIATA). She was addressing NAFL members during its annual general meeting at Armani Hotel Burj Khalifa. There will be large logistics parks in Jebel Ali an...
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Its boom time for the UAE logistics industry with more and more Chinese companies set to invest over 4 billion in development of giant logistics parks in Abu Dhabi and Dubai said a top official of National Association of Freight and Logistics (NAFL). Founded in Dubai in 1992 NAFL is the first national association of freight forwarders to be established in the Arabian Gulf to bring together the increasing number of freight and logistics service providers in the UAE. Logistics business is in for a boom. Many projects are being built for Expo 2020 and Chinese investors are coming to Abu Dhabi and Dubai remarked Nadia Abdul Aziz President NAFL and Vice President Global Extended Board the International Federation of Freight Forwarders Associations (FIATA). She was addressing NAFL members during its annual general meeting at Armani Hotel Burj Khalifa. There will be large logistics parks in Jebel Ali an...
GAC a global provider of marine services is tapping into the growing contract logistics business potential of the Asia Pacific Indian Subcontinent and Middle East with plans to develop and expand in its operations in the regions said a top official. Lars Bergström GAC s Group vice president for Asia Pacific & Indian Subcontinent was speaking to the Group s Contract Logistics Solutions experts who gathered in Colombo Sri Lanka to chart GAC s strategy to increase its share of the business in their regions. They discussed growing demand as a result of the rise of e-commerce last mile deliveries and technological advancements as well as the challenges the contract logistics sector faces. According to Transport Intelligence s Global Contract Logistics 2018 report contract logistics providers in Asia Pacific will see their market share increase by almost 7 per cent in the next four years. The contract logistics m...
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GAC a global provider of marine services is tapping into the growing contract logistics business potential of the Asia Pacific Indian Subcontinent and Middle East with plans to develop and expand in its operations in the regions said a top official. Lars Bergström GAC s Group vice president for Asia Pacific & Indian Subcontinent was speaking to the Group s Contract Logistics Solutions experts who gathered in Colombo Sri Lanka to chart GAC s strategy to increase its share of the business in their regions. They discussed growing demand as a result of the rise of e-commerce last mile deliveries and technological advancements as well as the challenges the contract logistics sector faces. According to Transport Intelligence s Global Contract Logistics 2018 report contract logistics providers in Asia Pacific will see their market share increase by almost 7 per cent in the next four years. The contract logistics m...
The value of the total real estate transactions in Dubai surged to more than Dh34 billion ( ) during the first five months of 2019 up 33 per cent from Dh24 billion last year according to Dubai Land Department (DLD). The value of residential and commercial apartments deals topped Dh17 billion while land purchasing transactions amounted to Dh14 billion and villas deals stood at Dh3 billion stated data released by DLD. This growing number of real estate purchasers came as a result of the attractiveness of the real estate market in Dubai thanks to a number of recently issued decisions by the UAE government it stated. The real estate transactions over the past five-month period included completed and ongoing deals. The apartments market came in the first spot in terms of transactions beating the lands market while the villas mar...
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The value of the total real estate transactions in Dubai surged to more than Dh34 billion ( ) during the first five months of 2019 up 33 per cent from Dh24 billion last year according to Dubai Land Department (DLD). The value of residential and commercial apartments deals topped Dh17 billion while land purchasing transactions amounted to Dh14 billion and villas deals stood at Dh3 billion stated data released by DLD. This growing number of real estate purchasers came as a result of the attractiveness of the real estate market in Dubai thanks to a number of recently issued decisions by the UAE government it stated. The real estate transactions over the past five-month period included completed and ongoing deals. The apartments market came in the first spot in terms of transactions beating the lands market while the villas mar...
Kale Logistics Solutions a leading provider of IT solutions for the logistics industry is showcasing IT solutions for next-generation digital logistics communities at the Transport Logistic 2019 being held in Germany. The event will take place from June 4 to 7 in Munich. This is in keeping with the company s commitment to catalyse Trade Facilitation empower ease of doing business and enable trade through single window systems globally said a statement. Trade Facilitation and the growing Digitalization of the global Logistics industry backed by the WTO push and regulatory mandates has led to the emergence of newer communities such as Airport Cargo Communities Port Communities and Logistics e-Marketplace and subsequently technology systems that cater to these Logistics ecosystems. Kale s latest offerings are next-generation Airport Cargo Community System (ACS) and Port Community System (PCS) and the M...
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Kale Logistics Solutions a leading provider of IT solutions for the logistics industry is showcasing IT solutions for next-generation digital logistics communities at the Transport Logistic 2019 being held in Germany. The event will take place from June 4 to 7 in Munich. This is in keeping with the company s commitment to catalyse Trade Facilitation empower ease of doing business and enable trade through single window systems globally said a statement. Trade Facilitation and the growing Digitalization of the global Logistics industry backed by the WTO push and regulatory mandates has led to the emergence of newer communities such as Airport Cargo Communities Port Communities and Logistics e-Marketplace and subsequently technology systems that cater to these Logistics ecosystems. Kale s latest offerings are next-generation Airport Cargo Community System (ACS) and Port Community System (PCS) and the M...
His Highness Shaikh Nasser bin Hamad Al-Khalifa s initiative to build 100 playgrounds across Bahrain was lauded by Housing Minister Bassem bin Yacoub Al-Hamer said a report. Al-Hamer commended HH Shaikh Nasser bin Hamad s keenness on developing the youth and sports sectors tap into sports talents and provide all necessary facilities to reveal their potential a report in BNA said. The initiative aims to make playgrounds easily accessible to Bahraini youngsters countrywide to hone their talents. Al-Hamer stressed the ministry s keenness on providing open spaces for young people to exercise sports in all housing projects which are under construction particularly the new residential towns the report said. ...
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His Highness Shaikh Nasser bin Hamad Al-Khalifa s initiative to build 100 playgrounds across Bahrain was lauded by Housing Minister Bassem bin Yacoub Al-Hamer said a report. Al-Hamer commended HH Shaikh Nasser bin Hamad s keenness on developing the youth and sports sectors tap into sports talents and provide all necessary facilities to reveal their potential a report in BNA said. The initiative aims to make playgrounds easily accessible to Bahraini youngsters countrywide to hone their talents. Al-Hamer stressed the ministry s keenness on providing open spaces for young people to exercise sports in all housing projects which are under construction particularly the new residential towns the report said. ...
Kale Logistics Solutions a global IT logistics partner for Fortune 500 companies recently joined the Pan Asia Alliance (PAA) to foster trade facilitation and digitalisation in Asia. Kale Logistics is the only Indian company to have this distinction said a statement from the company. Kale s broad solution spectrum ranges from Internal Business Automation Systems to Community Platforms that help various players in the Logistics value chain from shipper up to consignee to communicate and transact with each other electronically it said. Kale Logistics Solutions offers IT solutions for Logistics industry to enable fast and accurate delivery better supply chain visibility superior customer service and optimised asset utilisation. Kale Logistics Solutions is on the accelerated path to catalyse trade facilitation empower ease of doing business and enable trade through paperless supply chain tran...
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Kale Logistics Solutions a global IT logistics partner for Fortune 500 companies recently joined the Pan Asia Alliance (PAA) to foster trade facilitation and digitalisation in Asia. Kale Logistics is the only Indian company to have this distinction said a statement from the company. Kale s broad solution spectrum ranges from Internal Business Automation Systems to Community Platforms that help various players in the Logistics value chain from shipper up to consignee to communicate and transact with each other electronically it said. Kale Logistics Solutions offers IT solutions for Logistics industry to enable fast and accurate delivery better supply chain visibility superior customer service and optimised asset utilisation. Kale Logistics Solutions is on the accelerated path to catalyse trade facilitation empower ease of doing business and enable trade through paperless supply chain tran...
Bahrain s Ministry of Works Municipalities Affairs and Urban Planning (Works Affairs) has invited tenders from leading contractors for the construction of a healthcare centre at Madinat Khalifa area of the kingdom that can accommodate 360 patients within the 17 244-sq-m facility. The complex will consists of three floors and have a built-up area of 10 445 sq m said the ministry in its tender notification. The healthcare centre will boast 12 doctor s clinics emergency/nursing pharmacy laboratory radiology anti-natal and child care unit besides six dental clinics. The last date for submitting the tenders is June 12 it added. -TradeArabia News Service ...
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Bahrain s Ministry of Works Municipalities Affairs and Urban Planning (Works Affairs) has invited tenders from leading contractors for the construction of a healthcare centre at Madinat Khalifa area of the kingdom that can accommodate 360 patients within the 17 244-sq-m facility. The complex will consists of three floors and have a built-up area of 10 445 sq m said the ministry in its tender notification. The healthcare centre will boast 12 doctor s clinics emergency/nursing pharmacy laboratory radiology anti-natal and child care unit besides six dental clinics. The last date for submitting the tenders is June 12 it added. -TradeArabia News Service ...
UAE-based Ajman Bank has joined hands with Rasmala Investment Bank a leading alternative investment manager to launch Makaseb Real Estate Investments SPV Limited domiciled in the Abu Dhabi Global Market (ADGM). The first transaction under the new entity has resulted in the acquisition of an outstanding income yielding portfolio of UAE logistic and residential assets for a net purchase price of Dh327 million ( 90 million). These assets have a combined built-up area of nearly 700 000 sq ft housing 91 warehouses strategically located in Dubai Investments Park (DIP) and 10 apartments buildings located in Al Jurf Ajman. The investment was financed through a combination of equity and a sharia-compliant financing facility with Ajman Bank participating in the transaction as a strategic seed investor and sole financier said a statement from Rasmala. Uniquely there are liquidity windows for investors through a share purchas...
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UAE-based Ajman Bank has joined hands with Rasmala Investment Bank a leading alternative investment manager to launch Makaseb Real Estate Investments SPV Limited domiciled in the Abu Dhabi Global Market (ADGM). The first transaction under the new entity has resulted in the acquisition of an outstanding income yielding portfolio of UAE logistic and residential assets for a net purchase price of Dh327 million ( 90 million). These assets have a combined built-up area of nearly 700 000 sq ft housing 91 warehouses strategically located in Dubai Investments Park (DIP) and 10 apartments buildings located in Al Jurf Ajman. The investment was financed through a combination of equity and a sharia-compliant financing facility with Ajman Bank participating in the transaction as a strategic seed investor and sole financier said a statement from Rasmala. Uniquely there are liquidity windows for investors through a share purchas...
Kuwait-based United Real Estate Company (URC) has recorded a 18.3 per cent growth in its operating revenue for 2018 which hit KD103 million ( 338 million) while its operating profit fell from KD21 million the previous year to KD 9 million. The decrease in the company s profits was mainly due to several factors mainly from a decline in properties value inside and outside Kuwait including the UAE in addition to the increase in the annual amortization of BOT investments in Kuwait due to the near end of these investments period said the developer. Announcing the results for the financial year ended December 31 2018 URC said the group also swung to a net loss of KD9 million in 2018 from a net profit of KD2.2 million the previous year. It recorded a 2.39% increase in total assets reaching a value of KD 617 million in 2018 as compared to KD 602 million in 2017. The result were declared in the presence of Tari...
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Kuwait-based United Real Estate Company (URC) has recorded a 18.3 per cent growth in its operating revenue for 2018 which hit KD103 million ( 338 million) while its operating profit fell from KD21 million the previous year to KD 9 million. The decrease in the company s profits was mainly due to several factors mainly from a decline in properties value inside and outside Kuwait including the UAE in addition to the increase in the annual amortization of BOT investments in Kuwait due to the near end of these investments period said the developer. Announcing the results for the financial year ended December 31 2018 URC said the group also swung to a net loss of KD9 million in 2018 from a net profit of KD2.2 million the previous year. It recorded a 2.39% increase in total assets reaching a value of KD 617 million in 2018 as compared to KD 602 million in 2017. The result were declared in the presence of Tari...
Bahrain is planning to set up a new entity that will provide information about the property market in kingdom said a report. It will provide real estate statistics and information and supply investors and developers with accurate data which will enable them to take adequate decisions reported BNA. The project was unveiled during the regular meeting of Real Estate Regulatory Authority (Rera) held under the leadership of Survey and Land Registration Bureau (SLRB) President and Rera Chairman Shaikh Salman bin Abdulla bin Hamad Al Khalifa. The planned unit would provide useful information for businessmen and developers as part of efforts to encourage investments and pump capitals in the real estate sector a key pillar of the national economy said Shaikh Salman. During the meeting Rera officials discussed ways to boost the real estate sector to achieve competitiveness and sustainability in line with the royal di...
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Bahrain is planning to set up a new entity that will provide information about the property market in kingdom said a report. It will provide real estate statistics and information and supply investors and developers with accurate data which will enable them to take adequate decisions reported BNA. The project was unveiled during the regular meeting of Real Estate Regulatory Authority (Rera) held under the leadership of Survey and Land Registration Bureau (SLRB) President and Rera Chairman Shaikh Salman bin Abdulla bin Hamad Al Khalifa. The planned unit would provide useful information for businessmen and developers as part of efforts to encourage investments and pump capitals in the real estate sector a key pillar of the national economy said Shaikh Salman. During the meeting Rera officials discussed ways to boost the real estate sector to achieve competitiveness and sustainability in line with the royal di...
Orascom Construction a leading engineering and construction contractor in the region has announced that its joint venture with Arab Contractors has been awarded a 739-million contract to build a water treatment plant in Egypt. As per the deal awarded by the Egyptian government through its Armed Forces Engineering Authority the joint venture firm will provide engineering procurement and construction (EPC) services for the Bahr Albaqar wastewater treatment plant located near Port-Saïd in the northeastern part of the country. The treatment plant which will be the largest in Egypt will have a capacity of 5 million cu m/day and will treat water for irrigation purposes. In addition to the EPC scope the joint venture will operate and maintain the facility for five years said the statement from Orascom Construction. On the contract win CEO Osama Bishai said: This award is a continuation of Orasc...
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Orascom Construction a leading engineering and construction contractor in the region has announced that its joint venture with Arab Contractors has been awarded a 739-million contract to build a water treatment plant in Egypt. As per the deal awarded by the Egyptian government through its Armed Forces Engineering Authority the joint venture firm will provide engineering procurement and construction (EPC) services for the Bahr Albaqar wastewater treatment plant located near Port-Saïd in the northeastern part of the country. The treatment plant which will be the largest in Egypt will have a capacity of 5 million cu m/day and will treat water for irrigation purposes. In addition to the EPC scope the joint venture will operate and maintain the facility for five years said the statement from Orascom Construction. On the contract win CEO Osama Bishai said: This award is a continuation of Orasc...
The Saudi Real Estate Refinancing Company (SRC) said it has signed an agreement with Saudi British Bank to buy residential real estate finance portfolios through which the company will provide liquidity for the portfolios purchased for the bank. An affiliate of the Saudi Public Investment Fund the SRC said this is part of the agreements signed by the company with other local banks and specialized mortgage providers in the kingdom to purchase real estate finance portfolios. The deal is a clear demonstration of the company s commitment to inject more liquidity to enable financiers to expand into the residential real estate finance sector and help reduce the gap between long-term assets and short-term liabilities a fact that shall have a positive impact on the citizens through the lowering the cost of finance for owning a property said the statement from SRC. The rationale behind the company s role is to ensure that there is...
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The Saudi Real Estate Refinancing Company (SRC) said it has signed an agreement with Saudi British Bank to buy residential real estate finance portfolios through which the company will provide liquidity for the portfolios purchased for the bank. An affiliate of the Saudi Public Investment Fund the SRC said this is part of the agreements signed by the company with other local banks and specialized mortgage providers in the kingdom to purchase real estate finance portfolios. The deal is a clear demonstration of the company s commitment to inject more liquidity to enable financiers to expand into the residential real estate finance sector and help reduce the gap between long-term assets and short-term liabilities a fact that shall have a positive impact on the citizens through the lowering the cost of finance for owning a property said the statement from SRC. The rationale behind the company s role is to ensure that there is...
With less than 19 months left for the inauguration of the Expo 2020 Dubai its organisers have further speeded up the pace of allocating contracts to thousands of local and foreign firms to ensure timely preparation of the event which is set to be the largest of its kind in the Arab World said experts. The groundwork for the 173-day milestone Dubai exhibition which expects to welcome 25 million visitors and more than 200 international participants from 190 countries have already spurred business opportunities for various sectors with logistics being one of the prime gainers So far Expo 2020 Dubai has awarded 56 per cent of contracts to small and medium-sized enterprises (SMEs). Meanwhile more than 26 000 companies from 150 countries have recently applied to be involved in the event. When foreign companies get contracts in the UAE they need professio...
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With less than 19 months left for the inauguration of the Expo 2020 Dubai its organisers have further speeded up the pace of allocating contracts to thousands of local and foreign firms to ensure timely preparation of the event which is set to be the largest of its kind in the Arab World said experts. The groundwork for the 173-day milestone Dubai exhibition which expects to welcome 25 million visitors and more than 200 international participants from 190 countries have already spurred business opportunities for various sectors with logistics being one of the prime gainers So far Expo 2020 Dubai has awarded 56 per cent of contracts to small and medium-sized enterprises (SMEs). Meanwhile more than 26 000 companies from 150 countries have recently applied to be involved in the event. When foreign companies get contracts in the UAE they need professio...
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Read MoreInvestments in Bahrain s real estate sector is safe and rewarding and the government will remove all the obstacles facing the development of the sector said Bahrain s Prime Minister His Royal Highness Prince Khalifa bin Salman Al Khalifa. Inaugurating the trio of exhibitions Gulf Construction Expo Gulf Property Show and Interiors Expo yesterday (April 23) he stressed the importance of the construction and real estate sector for Bahrain s economy. The Prime Minister said the real estate sector is one of the pillars and basic sources on which the kingdom depends to diversify the streams of its income and attract investment. About 150 exhibitors from 20 countries including the UAE Kuwait Jordan Germany Turkey Egypt the UK and Cyprus are participating in the three-in-one event at the Bahrain International Exhibition and Convention Centre. /...
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Investments in Bahrain s real estate sector is safe and rewarding and the government will remove all the obstacles facing the development of the sector said Bahrain s Prime Minister His Royal Highness Prince Khalifa bin Salman Al Khalifa. Inaugurating the trio of exhibitions Gulf Construction Expo Gulf Property Show and Interiors Expo yesterday (April 23) he stressed the importance of the construction and real estate sector for Bahrain s economy. The Prime Minister said the real estate sector is one of the pillars and basic sources on which the kingdom depends to diversify the streams of its income and attract investment. About 150 exhibitors from 20 countries including the UAE Kuwait Jordan Germany Turkey Egypt the UK and Cyprus are participating in the three-in-one event at the Bahrain International Exhibition and Convention Centre. /...
UAE-based Bayut a top property portal has launched some innovative approaches that can aid real estate agents and brokers to maximise their outreach and achieve optimal sales results at the Bayut Big Broker event in Dubai UAE. The one-day educational summit on April 23 brought together senior Bayut executives industry leaders key decision makers and councillors to spearhead a discussion on evolving trends in the property market and ways to overcome challenges using technology and other innovations. According to data released by the Dubai Land Department (DLD) real estate brokers commissions in Dubai saw a decrease of 35 per cent in the first nine months of last year compared to the same period in 2017. The Bayut Big Broker Event also featured interactive panel discussions with CEOs of UAE s top real estate agencies focusing on customer behaviour and its impact on future trends. Speakers in the event delved into how ...
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UAE-based Bayut a top property portal has launched some innovative approaches that can aid real estate agents and brokers to maximise their outreach and achieve optimal sales results at the Bayut Big Broker event in Dubai UAE. The one-day educational summit on April 23 brought together senior Bayut executives industry leaders key decision makers and councillors to spearhead a discussion on evolving trends in the property market and ways to overcome challenges using technology and other innovations. According to data released by the Dubai Land Department (DLD) real estate brokers commissions in Dubai saw a decrease of 35 per cent in the first nine months of last year compared to the same period in 2017. The Bayut Big Broker Event also featured interactive panel discussions with CEOs of UAE s top real estate agencies focusing on customer behaviour and its impact on future trends. Speakers in the event delved into how ...
The ongoing mega-project announcements and improvements to government regulations are expected to boost demand for and enhance the long-term performance of Riyadh s real estate sector highlights JLL s Q1 market overview. The kingdom s National Industrial Development and Logistics Program (NIDLP) which aims to attract SR1.6 trillion of foreign investment by 2030 into various industries is also expected to bode well for the commercial sector the report said. Reforms focused on increasing transparency enhancing the logistics sector and improving the overall quality of living for Riyadh s citizens are expected to accelerate the implementation of Vision 2030 it said. Earlier in the year the government announced a project of SR86 billion ( 23 billion) to revamp public spaces in Riyadh aiming to improve the quality of life for the city s ...
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The ongoing mega-project announcements and improvements to government regulations are expected to boost demand for and enhance the long-term performance of Riyadh s real estate sector highlights JLL s Q1 market overview. The kingdom s National Industrial Development and Logistics Program (NIDLP) which aims to attract SR1.6 trillion of foreign investment by 2030 into various industries is also expected to bode well for the commercial sector the report said. Reforms focused on increasing transparency enhancing the logistics sector and improving the overall quality of living for Riyadh s citizens are expected to accelerate the implementation of Vision 2030 it said. Earlier in the year the government announced a project of SR86 billion ( 23 billion) to revamp public spaces in Riyadh aiming to improve the quality of life for the city s ...
The ongoing mega-project announcements and improvements to government regulations are expected to boost demand for and enhance the long-term performance of Riyadh s real estate sector highlights JLL s Q1 market overview. Reforms focused on increasing transparency enhancing the logistics sector and improving the overall quality of living for Riyadh s citizens are expected to accelerate the implementation of Vision 2030 it said. Earlier in the year the government announced a project of SR86 billion ( 23 billion) to revamp public spaces in Riyadh aiming to improve the quality of life for the city s residents. The King Salman Park will promote urban development with green spaces and will include recreational areas for the benefit of the communities and citizens in Riyadh. Along with government initiatives to boost home ownership this is expected to promote demand for residential un...
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The ongoing mega-project announcements and improvements to government regulations are expected to boost demand for and enhance the long-term performance of Riyadh s real estate sector highlights JLL s Q1 market overview. Reforms focused on increasing transparency enhancing the logistics sector and improving the overall quality of living for Riyadh s citizens are expected to accelerate the implementation of Vision 2030 it said. Earlier in the year the government announced a project of SR86 billion ( 23 billion) to revamp public spaces in Riyadh aiming to improve the quality of life for the city s residents. The King Salman Park will promote urban development with green spaces and will include recreational areas for the benefit of the communities and citizens in Riyadh. Along with government initiatives to boost home ownership this is expected to promote demand for residential un...
The groundwork for the upcoming Expo 2020 which expects to welcome 25 million visitors and more than 200 international participants from 190 countries has already spurred business opportunities for various sectors with logistics being one of the prime gainers said an expert. With less than 19 months left for the inauguration of the Expo 2020 its organisers have further speeded up the pace of allocating contracts to thousands of local and foreign firms to ensure timely preparation of the event which is set to be the largest of its kind in the Arab World. So far Expo 2020 Dubai has awarded 56 per cent of contracts to small and medium-sized enterprises. Meanwhile more than 26 000 companies from 150 countries have recently applied to be involved in the event said a statement. Shailesh Dash chairman of Dubai-based Gulf Pinnacle Logistics said: When foreign companies get contracts in the UAE they need professional support of ...
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The groundwork for the upcoming Expo 2020 which expects to welcome 25 million visitors and more than 200 international participants from 190 countries has already spurred business opportunities for various sectors with logistics being one of the prime gainers said an expert. With less than 19 months left for the inauguration of the Expo 2020 its organisers have further speeded up the pace of allocating contracts to thousands of local and foreign firms to ensure timely preparation of the event which is set to be the largest of its kind in the Arab World. So far Expo 2020 Dubai has awarded 56 per cent of contracts to small and medium-sized enterprises. Meanwhile more than 26 000 companies from 150 countries have recently applied to be involved in the event said a statement. Shailesh Dash chairman of Dubai-based Gulf Pinnacle Logistics said: When foreign companies get contracts in the UAE they need professional support of ...
The total value of the UAE s logistics and distribution sectors have grown to Dh76.78 billion ( 20.90 billion) in 2017 and represent about 5.4 per cent of the Dh1.42 trillion ( 386.5 billion) economy according to the Annual Economic Report 2018 published by the UAE Ministry of Economy. These two sectors are growing at 7.9 percent per annum. They are expected to drive the growth of the UAE economy till 2023 according to another report by Dubai Chamber of Commerce and Industry. Real GDP of the UAE s non-oil sector is projected grow at an average rate of 4.1 per cent between 2019 and 2023 compared to 2.8 per cent growth recorded in the 2014-2018 period. Momentum behind the UAE s GDP growth over the next five years will likely be led by the country s transport and logistics sector which is set to record GDP growth of 7.9 per cent Dubai Chamber said in its report. The growth in the...
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The total value of the UAE s logistics and distribution sectors have grown to Dh76.78 billion ( 20.90 billion) in 2017 and represent about 5.4 per cent of the Dh1.42 trillion ( 386.5 billion) economy according to the Annual Economic Report 2018 published by the UAE Ministry of Economy. These two sectors are growing at 7.9 percent per annum. They are expected to drive the growth of the UAE economy till 2023 according to another report by Dubai Chamber of Commerce and Industry. Real GDP of the UAE s non-oil sector is projected grow at an average rate of 4.1 per cent between 2019 and 2023 compared to 2.8 per cent growth recorded in the 2014-2018 period. Momentum behind the UAE s GDP growth over the next five years will likely be led by the country s transport and logistics sector which is set to record GDP growth of 7.9 per cent Dubai Chamber said in its report. The growth in the...
The Department of Urban Planning and Municipalities has signed a memorandum of understanding (MoU) with Smart Crowd Holdings a real estate crowdfunding platform to encourage the private sector to participate in Abu Dhabi s real estate market at Cityscape Abu Dhabi. The agreement was signed by Mohamed Al Khadar Al Ahmed on behalf of Mubarak Obaid Al Dhaheri Undersecretary of the Department of Urban Planning and Municipalities and Siddiq Farid chief executive officer and founder of Smart Crowd Holdings. The MoU will allow both parties to explore the possibility of implementing a similar model of collective or joint ownership in the Emirate of Abu Dhabi and develop proposals on the implementation of such a model in accordance with the laws and legislation in the Emirate. We are pleased to work on the proposed partnership with Smart Crowd. We hope to work together with the private sector to develop innovative ideas and mec...
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The Department of Urban Planning and Municipalities has signed a memorandum of understanding (MoU) with Smart Crowd Holdings a real estate crowdfunding platform to encourage the private sector to participate in Abu Dhabi s real estate market at Cityscape Abu Dhabi. The agreement was signed by Mohamed Al Khadar Al Ahmed on behalf of Mubarak Obaid Al Dhaheri Undersecretary of the Department of Urban Planning and Municipalities and Siddiq Farid chief executive officer and founder of Smart Crowd Holdings. The MoU will allow both parties to explore the possibility of implementing a similar model of collective or joint ownership in the Emirate of Abu Dhabi and develop proposals on the implementation of such a model in accordance with the laws and legislation in the Emirate. We are pleased to work on the proposed partnership with Smart Crowd. We hope to work together with the private sector to develop innovative ideas and mec...
Three of Egypt s leading firms - EFG Hermes Talaat Mostafa Group and GB Capital - has launched a real estate finance company. The new partnership will offer long-term and competitive mortgages for new move-in homes increasing affordability and supply to better serve Egypt s growing population of homebuyers said a statement from Talaat Mostafa Group (TMG) Holding. The joint venture whose brand name will be revealed at a later date will have an initial paid-in capital of 8.69 million and is expected to be increased to 14.460 million as the business grows. It will offer mortgage finance to all consumers looking to buy move-in homes across TMG s existing projects and potential developments. The partners will appoint a chief executive officer to lead the new venture which will be staffed by an independent management team. /...
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Three of Egypt s leading firms - EFG Hermes Talaat Mostafa Group and GB Capital - has launched a real estate finance company. The new partnership will offer long-term and competitive mortgages for new move-in homes increasing affordability and supply to better serve Egypt s growing population of homebuyers said a statement from Talaat Mostafa Group (TMG) Holding. The joint venture whose brand name will be revealed at a later date will have an initial paid-in capital of 8.69 million and is expected to be increased to 14.460 million as the business grows. It will offer mortgage finance to all consumers looking to buy move-in homes across TMG s existing projects and potential developments. The partners will appoint a chief executive officer to lead the new venture which will be staffed by an independent management team. /...
India s NBCC (formerly National Buildings Construction Corporation Limited) has invited tenders from leading Dubai-based developers and engineering companies for the construction of the country pavilion at the Expo 2020 gala event to be held in the city next year. The mega pavilion will be built at an estimated cost of Dh109.5 million ( 30 million) it stated. The global open percentage rate e-tenders are open to only those companies based in Dubai which have a valid licence or registeration from the government said the Delhi-based company in its tender notification. The scope of work includes design engineering and operation and maintenance of the facility. The last date for submitting the tenders is May 10 it added.- TradeArabia News Service ...
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India s NBCC (formerly National Buildings Construction Corporation Limited) has invited tenders from leading Dubai-based developers and engineering companies for the construction of the country pavilion at the Expo 2020 gala event to be held in the city next year. The mega pavilion will be built at an estimated cost of Dh109.5 million ( 30 million) it stated. The global open percentage rate e-tenders are open to only those companies based in Dubai which have a valid licence or registeration from the government said the Delhi-based company in its tender notification. The scope of work includes design engineering and operation and maintenance of the facility. The last date for submitting the tenders is May 10 it added.- TradeArabia News Service ...
Leading industry experts from two separate and powerful regions - the UK and Middle East - will convene in Dubai to debate the future of real estate including discussions on investment disruption and future planning at a major event later this month. Influential decision makers from both regions including developers investors property players and legislative representatives - will meet at the third EG Middle East Real Estate Forum at the Armani Hotel Burj Khalifa Dubai. At this free to attend event they will debate topics that are impacting real estate investment right now and in the immediate future. Gulf investors have always considered the UK as a safe haven but will Brexit impact them directly? With a softening UAE real estate market will UK investors continue to make the returns of the past? Global industry topics include the effects of an economic slow-down millennials entering the property market and the growth...
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Leading industry experts from two separate and powerful regions - the UK and Middle East - will convene in Dubai to debate the future of real estate including discussions on investment disruption and future planning at a major event later this month. Influential decision makers from both regions including developers investors property players and legislative representatives - will meet at the third EG Middle East Real Estate Forum at the Armani Hotel Burj Khalifa Dubai. At this free to attend event they will debate topics that are impacting real estate investment right now and in the immediate future. Gulf investors have always considered the UK as a safe haven but will Brexit impact them directly? With a softening UAE real estate market will UK investors continue to make the returns of the past? Global industry topics include the effects of an economic slow-down millennials entering the property market and the growth...
Market maturity and developers response to the buyer demand are key to the evolution of Abu Dhabi s real estate market and this is the only way that the UAE s capital will overcome the challenging conditions according to industry experts at Cityscape Abu Dhabi 2019. The 13th edition of the Cityscape Abu Dhabi is being held under the patronage of HH Sheikh Mohamed bin Zayed Al Nahyan Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces Chairman of the Executive Council. The expo features more than 80 leading local and international developers and real estate companies exhibiting dozens of new-to-market developments and real estate solutions. Running alongside the main exhibition the industry-defining Cityscape Abu Dhabi Conference brought together a high-profile gathering of industry professionals to examine latest market trends and point the way for the future of real estate in Abu Dhabi. br /...
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Market maturity and developers response to the buyer demand are key to the evolution of Abu Dhabi s real estate market and this is the only way that the UAE s capital will overcome the challenging conditions according to industry experts at Cityscape Abu Dhabi 2019. The 13th edition of the Cityscape Abu Dhabi is being held under the patronage of HH Sheikh Mohamed bin Zayed Al Nahyan Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces Chairman of the Executive Council. The expo features more than 80 leading local and international developers and real estate companies exhibiting dozens of new-to-market developments and real estate solutions. Running alongside the main exhibition the industry-defining Cityscape Abu Dhabi Conference brought together a high-profile gathering of industry professionals to examine latest market trends and point the way for the future of real estate in Abu Dhabi. br /...
Le Mirage Real Estate a member of Sharaka Holdings and Marriott International have signed an agreement to debut the Four Points By Sheraton brand in Doha. Previously known as the Amari Hotel the hotel will be converted to the Four Points by Sheraton Doha in Q3 2019 and will boast the brand s approachable design and excellent service at an honest value. The hotel is a franchise property which will be managed by Le Mirage Property Management the property management company of Le Mirage Real Estate. On the occasion of the signing Amer Fares CEO of Sharaka Holdings the parent company of Le Mirage Real Estate said: Le Mirage Real Estate believes in associating with brands which share our passion for building beautiful lives. We strive to enhance the quality of life in every community we serve. With Doha s inbound tourism market set to grow rapidly in the coming years we are constantly looking for ways to enhance the travel...
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Le Mirage Real Estate a member of Sharaka Holdings and Marriott International have signed an agreement to debut the Four Points By Sheraton brand in Doha. Previously known as the Amari Hotel the hotel will be converted to the Four Points by Sheraton Doha in Q3 2019 and will boast the brand s approachable design and excellent service at an honest value. The hotel is a franchise property which will be managed by Le Mirage Property Management the property management company of Le Mirage Real Estate. On the occasion of the signing Amer Fares CEO of Sharaka Holdings the parent company of Le Mirage Real Estate said: Le Mirage Real Estate believes in associating with brands which share our passion for building beautiful lives. We strive to enhance the quality of life in every community we serve. With Doha s inbound tourism market set to grow rapidly in the coming years we are constantly looking for ways to enhance the travel...
GAC Abu Dhabi a leading shipping and logistics service provider played a vital role in ensuring the success of recent Special Olympics World Games Abu Dhabi 2019 the largest sports and humanitarian event in the world this year. Abu Dhabi was the first city in the Middle East to host a World Games. The capital of the Emirates welcomed more than 7 000 athletes and 3 000 coaches from 195 nations all of whom needed equipment and infrastructure from around the world. GAC Abu Dhabi was appointed to help ensure everything was where it should be when it was needed said a statement. Youssef El Khouri logistics manager for the local organisation committee of Special Olympics World Games Abu Dhabi 2019 was impressed with GAC Abu Dhabi s ability to deliver a high standard of service. El Khouri said: Not only did GAC Abu Dhabi supply logistics and warehousing services they also delivered a fantastic service supplying man...
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GAC Abu Dhabi a leading shipping and logistics service provider played a vital role in ensuring the success of recent Special Olympics World Games Abu Dhabi 2019 the largest sports and humanitarian event in the world this year. Abu Dhabi was the first city in the Middle East to host a World Games. The capital of the Emirates welcomed more than 7 000 athletes and 3 000 coaches from 195 nations all of whom needed equipment and infrastructure from around the world. GAC Abu Dhabi was appointed to help ensure everything was where it should be when it was needed said a statement. Youssef El Khouri logistics manager for the local organisation committee of Special Olympics World Games Abu Dhabi 2019 was impressed with GAC Abu Dhabi s ability to deliver a high standard of service. El Khouri said: Not only did GAC Abu Dhabi supply logistics and warehousing services they also delivered a fantastic service supplying man...
Property Finder a leading real estate portal in the Middle East and North Africa (Mena) region said it has acquired Bahrain Property World a pioneering property portal in the kingdom. The group had been operating through Propertyfinder.bh in the Bahrain market for over five years making its foray into the country in 2013. This acquisition comes a few months after Property Finder raised 120 million in funding from private equity firm General Atlantic in November last year. A UAE-born startup Property Finder has branched out of the country s shores and operates in a total of seven markets including Qatar Bahrain Saudi Arabia Lebanon Egypt and Morocco and has a significant 40% stake in Zingat the second largest property portal in Turkey which has over 6 million monthly visitors and more than 18 000 real estate agents. On the company s move CEO and Founder Michael Lahyani said: This is one of th...
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Property Finder a leading real estate portal in the Middle East and North Africa (Mena) region said it has acquired Bahrain Property World a pioneering property portal in the kingdom. The group had been operating through Propertyfinder.bh in the Bahrain market for over five years making its foray into the country in 2013. This acquisition comes a few months after Property Finder raised 120 million in funding from private equity firm General Atlantic in November last year. A UAE-born startup Property Finder has branched out of the country s shores and operates in a total of seven markets including Qatar Bahrain Saudi Arabia Lebanon Egypt and Morocco and has a significant 40% stake in Zingat the second largest property portal in Turkey which has over 6 million monthly visitors and more than 18 000 real estate agents. On the company s move CEO and Founder Michael Lahyani said: This is one of th...
GFH Properties the real estate arm of GFH Financial Group has joined the strong line-up of strategic sponsors at the Gulf Property Show 2019 a dedicated boutique showcase for real estate and property development in the Northern Gulf region. The Gulf Property Show is being held under the patronage of HRH Prince Khalifa bin Salman Al Khalifa the Prime Minister of Kingdom of Bahrain from April 23 to 25 at the Bahrain International Exhibition and Convention Centre said the event organisers Hilal Conferences and Exhibitions (HCE). It carries the strategic organisational support of the Real Estate Regulatory Authority of Bahrain (Rera) Survey and Land Regulatory Bureau (SLRB) and the Urban Planning and Development Authority of Bahrain During the three-day event GFH Properties will showcase Bahrain s latest luxurious landmark The Harbour Row located at the Financial Harbour in Manama within proximity to commercial centers and ...
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GFH Properties the real estate arm of GFH Financial Group has joined the strong line-up of strategic sponsors at the Gulf Property Show 2019 a dedicated boutique showcase for real estate and property development in the Northern Gulf region. The Gulf Property Show is being held under the patronage of HRH Prince Khalifa bin Salman Al Khalifa the Prime Minister of Kingdom of Bahrain from April 23 to 25 at the Bahrain International Exhibition and Convention Centre said the event organisers Hilal Conferences and Exhibitions (HCE). It carries the strategic organisational support of the Real Estate Regulatory Authority of Bahrain (Rera) Survey and Land Regulatory Bureau (SLRB) and the Urban Planning and Development Authority of Bahrain During the three-day event GFH Properties will showcase Bahrain s latest luxurious landmark The Harbour Row located at the Financial Harbour in Manama within proximity to commercial centers and ...
Bahrain s Real Estate Regulatory Authority (Rera) is encouraging investment in the kingdom s real estate market through its support for the Gulf Property Show a dedicated boutique showcase for the property development sector in the Northern Gulf region. Rera is the body tasked with the responsibility of regulating real estate developers and off-plan sale projects to protect investors interests. It is also the licensing entity for real estate professionals including brokers sales agents property managers and owners association managers. Rera s role in general is to provide a strong safe and sustainable regulatory environment for the real estate sector which will encourage investment. The real estate sector watchdog will have a major presence at the upcoming Gulf Property Show. Bahrain s leading real estate event is being held under the patronage of HRH Prince Khalifa bin Salman Al Khalifa ...
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Bahrain s Real Estate Regulatory Authority (Rera) is encouraging investment in the kingdom s real estate market through its support for the Gulf Property Show a dedicated boutique showcase for the property development sector in the Northern Gulf region. Rera is the body tasked with the responsibility of regulating real estate developers and off-plan sale projects to protect investors interests. It is also the licensing entity for real estate professionals including brokers sales agents property managers and owners association managers. Rera s role in general is to provide a strong safe and sustainable regulatory environment for the real estate sector which will encourage investment. The real estate sector watchdog will have a major presence at the upcoming Gulf Property Show. Bahrain s leading real estate event is being held under the patronage of HRH Prince Khalifa bin Salman Al Khalifa ...
Mubadala Real Estate & Infrastructure a unit of Abu Dhabi s Mubadala Investment Company is showcasing its expanded residential portfolio including four new projects at the Cityscape Abu Dhabi. The premium developments are located in some of the Capital s most desirable residential areas. Cityscape Abu Dhabi takes place from April 16 to 18 at Adnec. The four residential developments include: Lamar a premium waterfront development located at Al Raha Beach; The Wave a high quality mixed-use development with residential office and retail space situated adjacent to the marina waterfront promenade on Al Reem Island; The Views at Saraya which comprises two luxury residential high-rise towers with panoramic views of the Abu Dhabi Corniche; and the Saraya lagoon and Al Durrah Tower a premium residence located at Marina Square on Al Reem Island. Additionally Mubadala ...
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Mubadala Real Estate & Infrastructure a unit of Abu Dhabi s Mubadala Investment Company is showcasing its expanded residential portfolio including four new projects at the Cityscape Abu Dhabi. The premium developments are located in some of the Capital s most desirable residential areas. Cityscape Abu Dhabi takes place from April 16 to 18 at Adnec. The four residential developments include: Lamar a premium waterfront development located at Al Raha Beach; The Wave a high quality mixed-use development with residential office and retail space situated adjacent to the marina waterfront promenade on Al Reem Island; The Views at Saraya which comprises two luxury residential high-rise towers with panoramic views of the Abu Dhabi Corniche; and the Saraya lagoon and Al Durrah Tower a premium residence located at Marina Square on Al Reem Island. Additionally Mubadala ...
DHL Express a global parcel and express mail company said that it will soon be expanding its UAE operations to its latest facility located in the state-of-the-art EZDubai the new addition to Dubai South s Logistics District. The expansion will allow DHL Express to serve its existing and new customers who will be based in the newly formed free zone as well as those located outside EZDubai and Dubai South. This latest development is aligned with DHL Express efforts to build facilities with easy access to major ports and airports for faster delivery of its services. Expanding their operations also demonstrates the company s commitment to support the development plans of its customers in the GCC region and beyond. Mohsen Ahmad CEO Dubai South s Logistics District said: DHL Express remains globally competitive because of its constant efforts to boost it capabilities. We welcome the company s decision to ex...
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DHL Express a global parcel and express mail company said that it will soon be expanding its UAE operations to its latest facility located in the state-of-the-art EZDubai the new addition to Dubai South s Logistics District. The expansion will allow DHL Express to serve its existing and new customers who will be based in the newly formed free zone as well as those located outside EZDubai and Dubai South. This latest development is aligned with DHL Express efforts to build facilities with easy access to major ports and airports for faster delivery of its services. Expanding their operations also demonstrates the company s commitment to support the development plans of its customers in the GCC region and beyond. Mohsen Ahmad CEO Dubai South s Logistics District said: DHL Express remains globally competitive because of its constant efforts to boost it capabilities. We welcome the company s decision to ex...
Abu Dhabi government has ordered all departments and state-owned companies to pay construction contractors and suppliers within 30 days of receipt of invoices reported Reuters citing an official circular. In a circular from the Executive Council dated March 26 Abu Dhabi asked to amend contracts so to oblige contractors and suppliers to pay subcontractors within 30 days of receipt of government payments. The government is always keen on encouraging the private sector and paying its financial dues it added. ...
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Abu Dhabi government has ordered all departments and state-owned companies to pay construction contractors and suppliers within 30 days of receipt of invoices reported Reuters citing an official circular. In a circular from the Executive Council dated March 26 Abu Dhabi asked to amend contracts so to oblige contractors and suppliers to pay subcontractors within 30 days of receipt of government payments. The government is always keen on encouraging the private sector and paying its financial dues it added. ...
Vinci a global player in concessions and contracting sector has successfully issued a 1-billion bond maturing in April 2029 and carrying an annual coupon of 3.75%. Following the inaugural 800 million bond issue realized last March 8th this first issue in US dollar enables the French construction major to further diversify its sources of funding and its bond investor base by accessing the American bond market. Moreover it enables the group to continue extending its average maturity in a well-oriented market environment said the statement from the company. The proceeds will be used for the general corporate purposes of Vinci it added. A major international player in the construction sector Vinci employs close to 211 000 people in some 100 countries. It designs funds builds and operates infrastructure and facilities that help improve daily life and mobility for all .-TradeArabia News Service /strong...
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Vinci a global player in concessions and contracting sector has successfully issued a 1-billion bond maturing in April 2029 and carrying an annual coupon of 3.75%. Following the inaugural 800 million bond issue realized last March 8th this first issue in US dollar enables the French construction major to further diversify its sources of funding and its bond investor base by accessing the American bond market. Moreover it enables the group to continue extending its average maturity in a well-oriented market environment said the statement from the company. The proceeds will be used for the general corporate purposes of Vinci it added. A major international player in the construction sector Vinci employs close to 211 000 people in some 100 countries. It designs funds builds and operates infrastructure and facilities that help improve daily life and mobility for all .-TradeArabia News Service /strong...
The recent correction in Abu Dhabi s real estate sector has resulted in a buyers market where investor sentiment is high following pro-active government incentives according to industry experts ahead of Cityscape Abu Dhabi property expo. A leading regional real estate industry event the Cityscape Abu Dhabi which is the 13th in the annual series runs at the Abu Dhabi National Exhibition Centre (Adnec) from April 16 to 18. Mesab Limited the Abu Dhabi developer which specialises in delivering real estate and community projects for global investors believes that while the ongoing market correction is presenting challenges for developers and landlords it is a silver lining for potential buyers. It is a big win for consumers who are now more than ever spoilt for choice said Mesab s Tariq Allan. Property prices are now below construction costs so regardless of what happens in 2019 buying in this m...
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The recent correction in Abu Dhabi s real estate sector has resulted in a buyers market where investor sentiment is high following pro-active government incentives according to industry experts ahead of Cityscape Abu Dhabi property expo. A leading regional real estate industry event the Cityscape Abu Dhabi which is the 13th in the annual series runs at the Abu Dhabi National Exhibition Centre (Adnec) from April 16 to 18. Mesab Limited the Abu Dhabi developer which specialises in delivering real estate and community projects for global investors believes that while the ongoing market correction is presenting challenges for developers and landlords it is a silver lining for potential buyers. It is a big win for consumers who are now more than ever spoilt for choice said Mesab s Tariq Allan. Property prices are now below construction costs so regardless of what happens in 2019 buying in this m...
UAE-based Diamond Developers said it has won five top laurels at the Gulf Real Estate Awards 2019 for The Sustainable City the first fully-operational sustainable community in the Middle East located at Dubailand. The top honours include the Happiest Community Award for the third consecutive year. Launched in 2017 by the Dubai Real Estate Institute these Gulf Real Estate Awards are aimed at fostering competition and innovation in the region s real estate sector. The awards programme celebrates and recognises the very best operators in the industry. In addition to being voted as the Overall Winner the community also won the Best Real Estate Project (Master Development) Best Real Estate Research and Best Real Estate Developer Sustainable Green Development awards. Winning the Happiness Community award for the third year ref...
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UAE-based Diamond Developers said it has won five top laurels at the Gulf Real Estate Awards 2019 for The Sustainable City the first fully-operational sustainable community in the Middle East located at Dubailand. The top honours include the Happiest Community Award for the third consecutive year. Launched in 2017 by the Dubai Real Estate Institute these Gulf Real Estate Awards are aimed at fostering competition and innovation in the region s real estate sector. The awards programme celebrates and recognises the very best operators in the industry. In addition to being voted as the Overall Winner the community also won the Best Real Estate Project (Master Development) Best Real Estate Research and Best Real Estate Developer Sustainable Green Development awards. Winning the Happiness Community award for the third year ref...
With leading developers announcing a series of attractive offers including special discounted prices low down payments lowest interest rates and free property insurance the freehold properties have become the in-demand thing at the ongoing Dubai Property Festival (DPF). Several major deals were closed by the key participating players during the first two days of the event including Danube Azizi Developments Tiger Properties Ajmal Makan - Sharjah Waterfront City and GJ Real Estate in Ajman. A major highlight of the show this year is Dubai Police s participation. A spokesperson from the organisation stated that participating at the show reinforces the UAE s safe and secure investment landscape. A major industry event in the region DPF is being held in partnership with the International Property Show (IPS) until tomorrow (March 28) at the Dubai World Trade Centre. Mudassir Ali a property...
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With leading developers announcing a series of attractive offers including special discounted prices low down payments lowest interest rates and free property insurance the freehold properties have become the in-demand thing at the ongoing Dubai Property Festival (DPF). Several major deals were closed by the key participating players during the first two days of the event including Danube Azizi Developments Tiger Properties Ajmal Makan - Sharjah Waterfront City and GJ Real Estate in Ajman. A major highlight of the show this year is Dubai Police s participation. A spokesperson from the organisation stated that participating at the show reinforces the UAE s safe and secure investment landscape. A major industry event in the region DPF is being held in partnership with the International Property Show (IPS) until tomorrow (March 28) at the Dubai World Trade Centre. Mudassir Ali a property...
Saudi-based Social Development Bank has signed an agreement with the government to provide financial support of up to SR300 000 ( 80 000) for all real estate projects nominated by the Ministry of Housing. The ministry also inked a MoU with the Social Development Bank for the development and funding of micro-businesses in the field of real estate and to help train people to run real estate brokerage facilities said a statement from SDB. As per the deal SDB will provide a portfolio of financial and non-financial products for these businesses to benefit from opportunities in the real estate sector in order to start up commercial projects it added. -TradeArabia News Service ...
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Saudi-based Social Development Bank has signed an agreement with the government to provide financial support of up to SR300 000 ( 80 000) for all real estate projects nominated by the Ministry of Housing. The ministry also inked a MoU with the Social Development Bank for the development and funding of micro-businesses in the field of real estate and to help train people to run real estate brokerage facilities said a statement from SDB. As per the deal SDB will provide a portfolio of financial and non-financial products for these businesses to benefit from opportunities in the real estate sector in order to start up commercial projects it added. -TradeArabia News Service ...
UAE-based Lootah Real Estate Development has announced the timely completion and handover of its latest project the W10 Warehouses part of Senaeyat a pre-built modern industrial manufacturing developmentin Dubai. Located at Dubai Investment Park the emerging real estate hub W10 Warehouses will feature a series of prime warehouses which include 24/7 maintenance and security systems sufficient loading and unloading spaces and wide parking areas. One of the region s prominent modern real estate developers Lootah Real Estate said the warehouses which are spread over a total area of 54 836 sq ft offer 10 individual warehouse units ranging from 4 425 to 6 027 sq ft in size plus 25 feet high buildings. Speaking at the W10 Warehouses handover ceremony Executive Director Saleh Abdullah Lootah said: We recognise the growing demand for working spaces and we at Lootah Real-Estate Development aim to accommodate these ...
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UAE-based Lootah Real Estate Development has announced the timely completion and handover of its latest project the W10 Warehouses part of Senaeyat a pre-built modern industrial manufacturing developmentin Dubai. Located at Dubai Investment Park the emerging real estate hub W10 Warehouses will feature a series of prime warehouses which include 24/7 maintenance and security systems sufficient loading and unloading spaces and wide parking areas. One of the region s prominent modern real estate developers Lootah Real Estate said the warehouses which are spread over a total area of 54 836 sq ft offer 10 individual warehouse units ranging from 4 425 to 6 027 sq ft in size plus 25 feet high buildings. Speaking at the W10 Warehouses handover ceremony Executive Director Saleh Abdullah Lootah said: We recognise the growing demand for working spaces and we at Lootah Real-Estate Development aim to accommodate these ...
Wood has been awarded a 34 million contract from RH energytrans to construct 28 miles of new pipeline designed to carry natural gas from Pennsylvania to Ohio. Awarded through a competitive tender process Wood s scope also includes the construction of the North Kingsville meter station in Ashtabula County Ohio. The project is underway and is expected to be completed in Summer 2019. Andrew Stewart CEO of Wood s Asset Solutions Americas business said: We re delighted to be playing a key role in this strategic project helping to support the supply of domestic energy to Northeast Ohio communities and industries who have had limited access to natural gas sources. This award strengthens our leading position in the North America market where we have the largest and most vertically integrated pipeline project offe...
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Wood has been awarded a 34 million contract from RH energytrans to construct 28 miles of new pipeline designed to carry natural gas from Pennsylvania to Ohio. Awarded through a competitive tender process Wood s scope also includes the construction of the North Kingsville meter station in Ashtabula County Ohio. The project is underway and is expected to be completed in Summer 2019. Andrew Stewart CEO of Wood s Asset Solutions Americas business said: We re delighted to be playing a key role in this strategic project helping to support the supply of domestic energy to Northeast Ohio communities and industries who have had limited access to natural gas sources. This award strengthens our leading position in the North America market where we have the largest and most vertically integrated pipeline project offe...
Haji Hassan a leading diversified construction-focused group has signed up as a strategic sponsor for Gulf Construction Expo the leading construction and building event in the Northern Gulf region which kicks off on April 23 at the Bahrain International Exhibition and Convention Centre. The three-day event is being held under the patronage of HRH Prince Khalifa bin Salman Al Khalifa Prime Minister of the Kingdom of Bahrain said the event organiser Hilal Conferences and Exhibitions (HCE). Haji Hassan Group headquartered in Bahrain is a conglomeration of complementary businesses which have been serving the construction and industrial services sectors in Bahrain and the GCC since 1952. Group Deputy Chairman Waheed Hassan Al A ali said: Our Strategic Sponsorship support for Gulf Construction Expo delivers on two goals for the company. Firstly we look to promote the world-class capabilities of Haji Hassan which has been bu...
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Haji Hassan a leading diversified construction-focused group has signed up as a strategic sponsor for Gulf Construction Expo the leading construction and building event in the Northern Gulf region which kicks off on April 23 at the Bahrain International Exhibition and Convention Centre. The three-day event is being held under the patronage of HRH Prince Khalifa bin Salman Al Khalifa Prime Minister of the Kingdom of Bahrain said the event organiser Hilal Conferences and Exhibitions (HCE). Haji Hassan Group headquartered in Bahrain is a conglomeration of complementary businesses which have been serving the construction and industrial services sectors in Bahrain and the GCC since 1952. Group Deputy Chairman Waheed Hassan Al A ali said: Our Strategic Sponsorship support for Gulf Construction Expo delivers on two goals for the company. Firstly we look to promote the world-class capabilities of Haji Hassan which has been bu...
Developers and construction experts should design engineer and construct a building with not only sales in their minds but also consider the environment efficiency manageability user comfort and wellbeing said Abdulmajid Karanouh the head of Interdisciplinary Design and Innovation at Drees & Sommer a leading international real estate and construction consultancy Drees & Sommer. Karanouh was moderating the first in a series of high-profile roundtable discussions being hosted by Drees & Sommer where leading construction professionals were outlining the best practice for the implementation of technology and smart design. The roundtable which was chaired by the company s general manager Bob Hope brought together 12 construction industry experts from a diverse range of companies. It included architects consultants engineers contractors facility managers and developers who discussed and identifed the most effect...
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Developers and construction experts should design engineer and construct a building with not only sales in their minds but also consider the environment efficiency manageability user comfort and wellbeing said Abdulmajid Karanouh the head of Interdisciplinary Design and Innovation at Drees & Sommer a leading international real estate and construction consultancy Drees & Sommer. Karanouh was moderating the first in a series of high-profile roundtable discussions being hosted by Drees & Sommer where leading construction professionals were outlining the best practice for the implementation of technology and smart design. The roundtable which was chaired by the company s general manager Bob Hope brought together 12 construction industry experts from a diverse range of companies. It included architects consultants engineers contractors facility managers and developers who discussed and identifed the most effect...
Saudi Arabia is witnessing a rebound in construction activity mainly due to headline infrastructure workloads increasing with contributors also reporting an improvement in operating conditions during the fourth quarter of 2018 said a report. The increase in infrastructure workloads was broad-based in the last quarter with water and utility projects road rail and energy projects all experiencing robust growth stated RICS a global professional body in its market analysis. The RICS Middle East Construction and Infrastructure Survey is a quarterly guide to the trends in the construction and infrastructure markets. Respondents are asked to compare conditions over the latest three months with the previous three months as well as their views as to the outlook. The latest RICS survey results indicate that operating conditions remain difficult; however respondents report an increase in infrastructure workloads thro...
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Saudi Arabia is witnessing a rebound in construction activity mainly due to headline infrastructure workloads increasing with contributors also reporting an improvement in operating conditions during the fourth quarter of 2018 said a report. The increase in infrastructure workloads was broad-based in the last quarter with water and utility projects road rail and energy projects all experiencing robust growth stated RICS a global professional body in its market analysis. The RICS Middle East Construction and Infrastructure Survey is a quarterly guide to the trends in the construction and infrastructure markets. Respondents are asked to compare conditions over the latest three months with the previous three months as well as their views as to the outlook. The latest RICS survey results indicate that operating conditions remain difficult; however respondents report an increase in infrastructure workloads thro...
Kuwait has issued a decree for establishment of the Real Estate Broker s book electronically in an effort to complete the regulation of real estate sector and also eliminate the manipulations occuring in the market reported Arab Times citing a senior minister. The Minister of State for Commerce and Industry Khalid Al-Roudhan has issued a decree establishing the Real Estate Broker s book (log/register) electronically in an effort to complete the regulation of the real estate market and eliminate the manipulations that occur in the market it stated. As per the new decree the ministries of commerce and industry justice and the Kuwait Municipality along with the Public Authority for Civil Information will be linked to provide a reliable and comprehensive database of any property that is being traded with regards to dispute and ownership status said the report. The decision specifies the beginning of the e-booki...
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Kuwait has issued a decree for establishment of the Real Estate Broker s book electronically in an effort to complete the regulation of real estate sector and also eliminate the manipulations occuring in the market reported Arab Times citing a senior minister. The Minister of State for Commerce and Industry Khalid Al-Roudhan has issued a decree establishing the Real Estate Broker s book (log/register) electronically in an effort to complete the regulation of the real estate market and eliminate the manipulations that occur in the market it stated. As per the new decree the ministries of commerce and industry justice and the Kuwait Municipality along with the Public Authority for Civil Information will be linked to provide a reliable and comprehensive database of any property that is being traded with regards to dispute and ownership status said the report. The decision specifies the beginning of the e-booki...
Leading real estate companies and developers from the UAE and region will be in Sharjah to take part in the sixth edition of the Real Estate Investment Exhibition-Acres 2019 which kicks off on March 19. The three-day expo is being jointly organised by the Sharjah Chamber of Commerce and Industry (SCCI) the Sharjah Real Estate Registration Department and the Real Estate Sector Business Group in Sharjah. It will be held at Expo Centre Sharjah under the patronage of Sheikh Sultan bin Mohammed bin Sultan Al Qasimi Crown Prince and Deputy Ruler of Sharjah and Chairman of Sharjah Executive Council. Acres has become one of the region s most important real estate investment exhibition attracting the largest real estate developers in the UAE and the GCC countries. The exhibition comes against the backdrop of positive real estate growth a...
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Leading real estate companies and developers from the UAE and region will be in Sharjah to take part in the sixth edition of the Real Estate Investment Exhibition-Acres 2019 which kicks off on March 19. The three-day expo is being jointly organised by the Sharjah Chamber of Commerce and Industry (SCCI) the Sharjah Real Estate Registration Department and the Real Estate Sector Business Group in Sharjah. It will be held at Expo Centre Sharjah under the patronage of Sheikh Sultan bin Mohammed bin Sultan Al Qasimi Crown Prince and Deputy Ruler of Sharjah and Chairman of Sharjah Executive Council. Acres has become one of the region s most important real estate investment exhibition attracting the largest real estate developers in the UAE and the GCC countries. The exhibition comes against the backdrop of positive real estate growth a...
Saudi Arabia s maritime sector is gearing up to make the kingdom a regional logistics hub and drive forward economic diversification and job opportunities highlighted leading experts and officials at the recently concluded Saudi Maritime Congress held in Riyadh. Engineer Saad Bin Abdulaziz Alkhalb president Saudi Ports Authority (Mawani) said: This event takes place at a time of significant change within the kingdom s logistic and maritime infrastructure. The congress highlights major projects and strategic opportunities that will solidify the kingdom s position as a global maritime and logistics hub and will undoubtedly further our aim of attracting strategic investments and viable ventures into Saudi Arabia by highlighting our objectives over the short medium and long terms he added. Saudi Arabia is the key player in the Red Sea which has recently seen a scramble to develop maritime asse...
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Saudi Arabia s maritime sector is gearing up to make the kingdom a regional logistics hub and drive forward economic diversification and job opportunities highlighted leading experts and officials at the recently concluded Saudi Maritime Congress held in Riyadh. Engineer Saad Bin Abdulaziz Alkhalb president Saudi Ports Authority (Mawani) said: This event takes place at a time of significant change within the kingdom s logistic and maritime infrastructure. The congress highlights major projects and strategic opportunities that will solidify the kingdom s position as a global maritime and logistics hub and will undoubtedly further our aim of attracting strategic investments and viable ventures into Saudi Arabia by highlighting our objectives over the short medium and long terms he added. Saudi Arabia is the key player in the Red Sea which has recently seen a scramble to develop maritime asse...
Saudi-based Elite for Construction and Development Company has placed the order with Danish Cobod International for supply of the largest 3D construction printer in the world. The hitech BOD2 printer will be in the kingdom by the end of May. The giant printer a first-of-its-kind will be able to print buildings of 12m (w) 27m (l) and 9m (h) and three- storeyed buildings of more than 300 sq m per storey could be made with the printer in one go. The company move comes at a time when the kingdom has set an ambitious target to build around 1.5 million private houses over the next 10 years under Saudi Arabia s Vision 2030 which aims to improve the country s economy and housing situation by applying more modern construction techniques in the country. Also some of the leading private companies and public organisations have expressed a strong desire to use the 3D construction printing technology in construction projects if provided local...
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Saudi-based Elite for Construction and Development Company has placed the order with Danish Cobod International for supply of the largest 3D construction printer in the world. The hitech BOD2 printer will be in the kingdom by the end of May. The giant printer a first-of-its-kind will be able to print buildings of 12m (w) 27m (l) and 9m (h) and three- storeyed buildings of more than 300 sq m per storey could be made with the printer in one go. The company move comes at a time when the kingdom has set an ambitious target to build around 1.5 million private houses over the next 10 years under Saudi Arabia s Vision 2030 which aims to improve the country s economy and housing situation by applying more modern construction techniques in the country. Also some of the leading private companies and public organisations have expressed a strong desire to use the 3D construction printing technology in construction projects if provided local...
The UAE real estate investment market witnessed upward pressure on yields throughout 2018 mainly due to a two key sectors - office and the logistics and industries sectors according to Knight Frank a leading independent global property consultancy. The office sector has seen a widening in yields between prime and secondary with well located best in class assets still commanding a premium to the wider market and continuing to attract robust interest from investors said the industry expert in its UAE 2019 Real Estate Investment Market Report. Investments in logistics and industrial assets continue to be perceived as an attractive proposition by the market though during the course of the year there had been minimal transaction activity in this sector mainly due to a dearth of credible investment opportunities it stated. Knight Frank pointed out that education and healthcare generally remained attractive as investment targets in pa...
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The UAE real estate investment market witnessed upward pressure on yields throughout 2018 mainly due to a two key sectors - office and the logistics and industries sectors according to Knight Frank a leading independent global property consultancy. The office sector has seen a widening in yields between prime and secondary with well located best in class assets still commanding a premium to the wider market and continuing to attract robust interest from investors said the industry expert in its UAE 2019 Real Estate Investment Market Report. Investments in logistics and industrial assets continue to be perceived as an attractive proposition by the market though during the course of the year there had been minimal transaction activity in this sector mainly due to a dearth of credible investment opportunities it stated. Knight Frank pointed out that education and healthcare generally remained attractive as investment targets in pa...
Saudi-based Tabia Holding Company said it has won approval from the kingdom s Capital Market Authority (CMA) to increase its capital from SR1.5 billion to SR1.6 billion ( 399 million to 426 million) for its major expansion moves. These funds will be used for acquiring all the shares of the minority shareholders in Al Aqeeq Read Estate Development Company (totalling 8.10 per cent) besides a strategic 12.65 per cent stake in Arab Resort Areas Company (ARAC) stated Tabia Holding Company in its filing to the Saudi bourse Tadawul. Al Aqeeq Real Estate Development Company is one of the leading real estate companies in the kingdom with interests in several fields including project development sale and renting of buildings besides managing operating and maintaining residential and commercial centers hotels and furnished apartments. It is also involved in general contracts for construction of buildings roads and bridges. ...
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Saudi-based Tabia Holding Company said it has won approval from the kingdom s Capital Market Authority (CMA) to increase its capital from SR1.5 billion to SR1.6 billion ( 399 million to 426 million) for its major expansion moves. These funds will be used for acquiring all the shares of the minority shareholders in Al Aqeeq Read Estate Development Company (totalling 8.10 per cent) besides a strategic 12.65 per cent stake in Arab Resort Areas Company (ARAC) stated Tabia Holding Company in its filing to the Saudi bourse Tadawul. Al Aqeeq Real Estate Development Company is one of the leading real estate companies in the kingdom with interests in several fields including project development sale and renting of buildings besides managing operating and maintaining residential and commercial centers hotels and furnished apartments. It is also involved in general contracts for construction of buildings roads and bridges. ...
Global real estate advisor Savills has announced the signing of a prominent joint venture with Egyptian company Sphere to cover the full range of real estate services in Egypt. The new partnership which will trade as Savills will combine local knowledge with international best practice. As a result of this partnership Savills has established a new team in Egypt which will grow from three to around 30 people in the next few months said senior company officials at the signing ceremony held on the sidelines of Mipim 2019 a leading international property event in Cannes France. Senior executives including Steve Morgan CEO of Savills Middle East Catesby Langer-Paget Head of Savills Egypt James Sparrow CEO of Savills UK & EMEA Philip Ingleby COO of Savills UK & EMEA and Sherine Badreldine CEO of Sphere took part. The new joint venture company will take responsibility for the management agency and marketing of...
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Global real estate advisor Savills has announced the signing of a prominent joint venture with Egyptian company Sphere to cover the full range of real estate services in Egypt. The new partnership which will trade as Savills will combine local knowledge with international best practice. As a result of this partnership Savills has established a new team in Egypt which will grow from three to around 30 people in the next few months said senior company officials at the signing ceremony held on the sidelines of Mipim 2019 a leading international property event in Cannes France. Senior executives including Steve Morgan CEO of Savills Middle East Catesby Langer-Paget Head of Savills Egypt James Sparrow CEO of Savills UK & EMEA Philip Ingleby COO of Savills UK & EMEA and Sherine Badreldine CEO of Sphere took part. The new joint venture company will take responsibility for the management agency and marketing of...
UAE-based Al Shirawi Contracting Company became the first company in the country s waterproofing segment to be successfully certified to the ISO 14001:2015 Environmental Management System and ISO 45001 Occupational Health and Safety standards by Llyod s Register. A leading waterproofing specialist in the emirates Al Shirawi said the dual distinction goes to show that the company is focused on enhancing its environmental performance as well as creating better safer working conditions for its people. The compliance also means that its waterproofing solutions can meet the needs of sustainable buildings it stated. Pramodh Idicheria the chief operating officer said: The ISO certification acknowledges the maturity of our systems and processes which were built over four decades. As a Group we regard certification as essential milestones to surpass in our continuous journey towards perfection and excellence. ...
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UAE-based Al Shirawi Contracting Company became the first company in the country s waterproofing segment to be successfully certified to the ISO 14001:2015 Environmental Management System and ISO 45001 Occupational Health and Safety standards by Llyod s Register. A leading waterproofing specialist in the emirates Al Shirawi said the dual distinction goes to show that the company is focused on enhancing its environmental performance as well as creating better safer working conditions for its people. The compliance also means that its waterproofing solutions can meet the needs of sustainable buildings it stated. Pramodh Idicheria the chief operating officer said: The ISO certification acknowledges the maturity of our systems and processes which were built over four decades. As a Group we regard certification as essential milestones to surpass in our continuous journey towards perfection and excellence. ...
Leading European construction major Vinci said it has successfully issued an inaugural 800 million ( 1.04 billion) bond in two tranches. A global player in concessions and contracting Vinci employs close to 195 000 people in some 100 countries. It is a specialist in designing financing building and operating infrastructure and facilities that help improve daily life and mobility for all. In the context of the upcoming acquisition by its subsidiary Vinci Airports of a 50.01 per cent shareholding in London Gatwick Airport Vinci has successfully issued the bond divided between a 400 million one maturing in March 2027 and carrying an annual coupon of 2.25 per cent and a 400 million bond maturing in September 2034 and carrying an annual coupon of 2.75 per cent. The issue was oversubscribed more than 3 times confirming investor confi...
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Leading European construction major Vinci said it has successfully issued an inaugural 800 million ( 1.04 billion) bond in two tranches. A global player in concessions and contracting Vinci employs close to 195 000 people in some 100 countries. It is a specialist in designing financing building and operating infrastructure and facilities that help improve daily life and mobility for all. In the context of the upcoming acquisition by its subsidiary Vinci Airports of a 50.01 per cent shareholding in London Gatwick Airport Vinci has successfully issued the bond divided between a 400 million one maturing in March 2027 and carrying an annual coupon of 2.25 per cent and a 400 million bond maturing in September 2034 and carrying an annual coupon of 2.75 per cent. The issue was oversubscribed more than 3 times confirming investor confi...
Saudi Arabian logistics industry is expected to reach 60.68 billion by the end of 2024 according to a recent market analysis by Frost & Sullivan. The analysis titled Saudi Arabia Logistics Industry Growth Insights Forecast through 2024 studies the key developments and trends related to economy and trade and the freight transportation logistics and warehousing sectors in Saudi Arabia. The growth will be driven by government initiatives in trade and industry promotion development of economic cities infrastructure development and economic diversification said the analysis. Economic diversification policy reforms tax regimes and FDI policies are shifting in favour of an open economy and encouraging private investment. The advent of technology and the nation s vision on economic diversification are creating opportunities across several industry sectors such as retail e-commerce healthcare and ot...
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Saudi Arabian logistics industry is expected to reach 60.68 billion by the end of 2024 according to a recent market analysis by Frost & Sullivan. The analysis titled Saudi Arabia Logistics Industry Growth Insights Forecast through 2024 studies the key developments and trends related to economy and trade and the freight transportation logistics and warehousing sectors in Saudi Arabia. The growth will be driven by government initiatives in trade and industry promotion development of economic cities infrastructure development and economic diversification said the analysis. Economic diversification policy reforms tax regimes and FDI policies are shifting in favour of an open economy and encouraging private investment. The advent of technology and the nation s vision on economic diversification are creating opportunities across several industry sectors such as retail e-commerce healthcare and ot...
GCC construction sector must embrace change through more balanced contractual relationships; greater stakeholder collaboration focused on delivery; a sensible approach to risk allocation; quicker ways to resolve disputes; innovative delivery models; and the adoption of global standards that will prove attractive to international project financiers and investors said a report by leading advisory firm Deloitte. The report titled 2018 edition of the annual GCC Powers of Construction highlights the challenges that affect the GCC construction sector. The Deloitte report also puts spotlight on experts who consider whether the industry has turned the corner and how it could benefit from adopting alternative project delivery methods and shares perspectives on the smart development of tomorrow s cities. It summarises the year gone by and the challenges this has presented and then discusses ideas and potential solutions to h...
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GCC construction sector must embrace change through more balanced contractual relationships; greater stakeholder collaboration focused on delivery; a sensible approach to risk allocation; quicker ways to resolve disputes; innovative delivery models; and the adoption of global standards that will prove attractive to international project financiers and investors said a report by leading advisory firm Deloitte. The report titled 2018 edition of the annual GCC Powers of Construction highlights the challenges that affect the GCC construction sector. The Deloitte report also puts spotlight on experts who consider whether the industry has turned the corner and how it could benefit from adopting alternative project delivery methods and shares perspectives on the smart development of tomorrow s cities. It summarises the year gone by and the challenges this has presented and then discusses ideas and potential solutions to h...
Bahrain has climbed six spots to reach 16 globally in the 2019 Agility Emerging Markets Logistics Index. In Agility s 10th annual ranking of 50 leading emerging markets a broad gauge of competitiveness based on logistics strength and business fundamentals Gulf countries outperform most others. Business-friendly conditions and core strengths position several Gulf countries near the top of the index behind giants China (1) and India (2) and alongside Southeast Asian nations. In the Gulf UAE (3) Saudi Arabia (6) Qatar (8) Oman (12) Bahrain (16) and Kuwait (18) rank highly. Among the Association of Southeast Asian Nations (Asean) countries Indonesia (4) Malaysia (5) Vietnam (10) Thailand (11) and Philippines (20) are strong. Elias Monem chief executive officer of Middle East and Africa for Agility Global Integrated Logistics said: The strong performance of Gulf economies in the Index ...
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Bahrain has climbed six spots to reach 16 globally in the 2019 Agility Emerging Markets Logistics Index. In Agility s 10th annual ranking of 50 leading emerging markets a broad gauge of competitiveness based on logistics strength and business fundamentals Gulf countries outperform most others. Business-friendly conditions and core strengths position several Gulf countries near the top of the index behind giants China (1) and India (2) and alongside Southeast Asian nations. In the Gulf UAE (3) Saudi Arabia (6) Qatar (8) Oman (12) Bahrain (16) and Kuwait (18) rank highly. Among the Association of Southeast Asian Nations (Asean) countries Indonesia (4) Malaysia (5) Vietnam (10) Thailand (11) and Philippines (20) are strong. Elias Monem chief executive officer of Middle East and Africa for Agility Global Integrated Logistics said: The strong performance of Gulf economies in the Index ...
Real estate sector attracted the largest share of liquidity on UAE s two main bourses - Dubai Financial Market (DFM) and Abu Dhabi Securities Exchange - during the first two months of the year said a report. Up to Dh4.45 billion ( 1.2 billion) of real estate transactions were conducted in January and February accounting for 24.4 percent of the total trades valued at Dh18.2 billion according to official figures obtained by the state news agency WAM . On Dubai Financial Market (DFM) transactions worth Dh3.7 billion have been concluded over the past two months comprising 33.6 percent of total cash inflows valued at Dh11 billion according to DFM statistics. Emaar was the best performer drawing Dh1.86 billion in transactions that ratcheted the property giant s share up to Dh4.90 18.6 per cent up from Dh4.13 by the end of December. Emaar Malls came second with Dh526 million trades followed by Emaar De...
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Real estate sector attracted the largest share of liquidity on UAE s two main bourses - Dubai Financial Market (DFM) and Abu Dhabi Securities Exchange - during the first two months of the year said a report. Up to Dh4.45 billion ( 1.2 billion) of real estate transactions were conducted in January and February accounting for 24.4 percent of the total trades valued at Dh18.2 billion according to official figures obtained by the state news agency WAM . On Dubai Financial Market (DFM) transactions worth Dh3.7 billion have been concluded over the past two months comprising 33.6 percent of total cash inflows valued at Dh11 billion according to DFM statistics. Emaar was the best performer drawing Dh1.86 billion in transactions that ratcheted the property giant s share up to Dh4.90 18.6 per cent up from Dh4.13 by the end of December. Emaar Malls came second with Dh526 million trades followed by Emaar De...
Bahrain s real estate sector will be facing strong competition from overseas developers at the Gulf Property Show a boutique showcase for the real estate and property development sectors in the Northern Gulf region said a top official. A Window to Real Estate event Gulf Property Show is being held under the patronage of HRH Prince Khalifa bin Salman Al Khalifa Prime Minister of Bahrain from April 23 to 25 at the Bahrain Exhibition Centre said the organisers Hilal Conferences and Exhibitions (HCE). The Gulf Property Show will host international developments in UAE Kuwait Jordan Cyprus Germany Turkey Egypt and the United Kingdom. The properties in Cyprus carry the added advantage of the possibility of EU residency remarked Jubran Abdulrahman the managing director of HCE. Exhibitons Director Ahmed Suleiman said: The Gulf Property Show has established a strong reputation as being a platfor...
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Bahrain s real estate sector will be facing strong competition from overseas developers at the Gulf Property Show a boutique showcase for the real estate and property development sectors in the Northern Gulf region said a top official. A Window to Real Estate event Gulf Property Show is being held under the patronage of HRH Prince Khalifa bin Salman Al Khalifa Prime Minister of Bahrain from April 23 to 25 at the Bahrain Exhibition Centre said the organisers Hilal Conferences and Exhibitions (HCE). The Gulf Property Show will host international developments in UAE Kuwait Jordan Cyprus Germany Turkey Egypt and the United Kingdom. The properties in Cyprus carry the added advantage of the possibility of EU residency remarked Jubran Abdulrahman the managing director of HCE. Exhibitons Director Ahmed Suleiman said: The Gulf Property Show has established a strong reputation as being a platfor...
Saudi-based Al kathiri Holding Company said one of its subsidiary companies - Alian Industry Co - has signed a non-binding agreement with leading Italian company Emmedue (M2) for the transfer of modern construction technology. The company which is based in Fano (Pesaro-Urbino) Italy has developed and commercialised the Emmedue Advanced Building System globally over the last 35 years. It is a world-class building technology that is unique to traditional construction methods saving cost and time spent in construction flexibility in applying modern architectural designs and achieving the highest standards of acoustic and thermal insulation. As per the MoU the Italian group will help transfer the technology for the production of concrete panels three-imensional to Al Kathiri Holding Company. The transaction also involves the sale of machinery and equipment by M2 for the process of manufacturing the panels and transfer ...
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Saudi-based Al kathiri Holding Company said one of its subsidiary companies - Alian Industry Co - has signed a non-binding agreement with leading Italian company Emmedue (M2) for the transfer of modern construction technology. The company which is based in Fano (Pesaro-Urbino) Italy has developed and commercialised the Emmedue Advanced Building System globally over the last 35 years. It is a world-class building technology that is unique to traditional construction methods saving cost and time spent in construction flexibility in applying modern architectural designs and achieving the highest standards of acoustic and thermal insulation. As per the MoU the Italian group will help transfer the technology for the production of concrete panels three-imensional to Al Kathiri Holding Company. The transaction also involves the sale of machinery and equipment by M2 for the process of manufacturing the panels and transfer ...
Leading UAE-based developer Aldar said one of its subsidiaries Aldar Investment Properties has agreed to acquire the full ownership of Etihad Plaza and Etihad Airways Centre in an Dh1.2 billion ( 327 million) deal with Abu Dhabi national carrier Etihad Airways. As part of the deal Etihad will take 100 per cent ownership of Etihad Airways HQ. The three properties were previously held in three 50/50 joint ventures between Aldar Properties and Etihad. The transaction is expected to be completed in the second quarter. Etihad Plaza is a mid-rise residential development which houses the national airline s employees in apartments ranging from one- to four-bedrooms and is fully leased to Etihad on a long-term lease expiring 2034. It also offers a number of retail units comprising offices and medical facilities for Etihad Airways and retail and food and beverage (F&B) units which are leased out to third parties. Locate...
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Leading UAE-based developer Aldar said one of its subsidiaries Aldar Investment Properties has agreed to acquire the full ownership of Etihad Plaza and Etihad Airways Centre in an Dh1.2 billion ( 327 million) deal with Abu Dhabi national carrier Etihad Airways. As part of the deal Etihad will take 100 per cent ownership of Etihad Airways HQ. The three properties were previously held in three 50/50 joint ventures between Aldar Properties and Etihad. The transaction is expected to be completed in the second quarter. Etihad Plaza is a mid-rise residential development which houses the national airline s employees in apartments ranging from one- to four-bedrooms and is fully leased to Etihad on a long-term lease expiring 2034. It also offers a number of retail units comprising offices and medical facilities for Etihad Airways and retail and food and beverage (F&B) units which are leased out to third parties. Locate...
Universal Rolling (Unirol) Bahrain s high-quality reinforcement Steel Plant will be leading the Metal and Steel sector at the upcoming Gulf Construction Expo the Northern Gulf s showcase for the building and construction sector. Gulf Construction Expo will be held under the patronage of HRH Prime Minister Prince Khalifa bin Salman Al Khalifa from April 23 to 25 at the Bahrain International Exhibition and Convention Centre said the event organisers Hilal Conferences & Exhibitions (HCE). Unirol is established as a leading supplier of construction steel in Bahrain and the GCC. We will be taking the opportunity at Gulf Construction Expo to showcase our range of products which are being produced by our newly upgraded and fully automated production facility remarked Ali Der the operations director of Unirol. All our products are manufactured to the exact quality assurance set by UK Cares he stated...
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Universal Rolling (Unirol) Bahrain s high-quality reinforcement Steel Plant will be leading the Metal and Steel sector at the upcoming Gulf Construction Expo the Northern Gulf s showcase for the building and construction sector. Gulf Construction Expo will be held under the patronage of HRH Prime Minister Prince Khalifa bin Salman Al Khalifa from April 23 to 25 at the Bahrain International Exhibition and Convention Centre said the event organisers Hilal Conferences & Exhibitions (HCE). Unirol is established as a leading supplier of construction steel in Bahrain and the GCC. We will be taking the opportunity at Gulf Construction Expo to showcase our range of products which are being produced by our newly upgraded and fully automated production facility remarked Ali Der the operations director of Unirol. All our products are manufactured to the exact quality assurance set by UK Cares he stated...
Universal Rolling (Unirol) Bahrain s high-quality reinforcement steel plant will showcase the range of products being produced by its recently upgraded and fully automated facility at the Gulf Construction Expo 2019 to be held in the kingdom in April. The event a leading construction and building expo in the Northern Gulf region will run from April 23 to 25 at the Bahrain International Exhibition and Convention Centre. The event is being held under the patronage of HRH Prince Khalifa bin Salman Al Khalifa Prime Minister of the Kingdom of Bahrain said the event organiser Hilal Conferences and Exhibitions (HCE). Ali Der operations director of Universal Rolling said: Our company is established as a leading supplier of construction steel in Bahrain and the GCC. We will be taking the opportunity at the expo to showcase our range of products which are being produced by our upgraded facility...
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Universal Rolling (Unirol) Bahrain s high-quality reinforcement steel plant will showcase the range of products being produced by its recently upgraded and fully automated facility at the Gulf Construction Expo 2019 to be held in the kingdom in April. The event a leading construction and building expo in the Northern Gulf region will run from April 23 to 25 at the Bahrain International Exhibition and Convention Centre. The event is being held under the patronage of HRH Prince Khalifa bin Salman Al Khalifa Prime Minister of the Kingdom of Bahrain said the event organiser Hilal Conferences and Exhibitions (HCE). Ali Der operations director of Universal Rolling said: Our company is established as a leading supplier of construction steel in Bahrain and the GCC. We will be taking the opportunity at the expo to showcase our range of products which are being produced by our upgraded facility...
BAC Jet Fuel Company (BJFCO) said it has achieved a key construction safety milestone by clocking over one million safe man-hours without lost time injuries (LTI) at its fuel farm complex site. A joint venture between Oil and Gas Holding Company (nogaholding) and Bahrain Airport Company (BAC) the BJFCO recently held a ceremony to celebrate the milestone. During the event BJFCO Chairman Engineer Abdul Majeed Al Qassab presented Amana Pipeline Construction Project Director Maher Al Dik with a certificate of appreciation. Also in attendance were representatives from the project s subcontractor Mesmak and consultant Mott MacDonald. The strategic project which is an important component of the Airport Modernisation Programme (AMP) will reinforce Bahrain s position as a centre of aviation fuel services in the GCC region and contribute to the national economy in line with the Kingdom s Vision 2030 said a statement from ...
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BAC Jet Fuel Company (BJFCO) said it has achieved a key construction safety milestone by clocking over one million safe man-hours without lost time injuries (LTI) at its fuel farm complex site. A joint venture between Oil and Gas Holding Company (nogaholding) and Bahrain Airport Company (BAC) the BJFCO recently held a ceremony to celebrate the milestone. During the event BJFCO Chairman Engineer Abdul Majeed Al Qassab presented Amana Pipeline Construction Project Director Maher Al Dik with a certificate of appreciation. Also in attendance were representatives from the project s subcontractor Mesmak and consultant Mott MacDonald. The strategic project which is an important component of the Airport Modernisation Programme (AMP) will reinforce Bahrain s position as a centre of aviation fuel services in the GCC region and contribute to the national economy in line with the Kingdom s Vision 2030 said a statement from ...
India s top engineering and construction firm Larsen & Toubro (L&T) said one of its units has secured a contract worth over 70 billion ( 980 million) for design and building of a major airport on EPC (engineering procurement and construction) basis. The company however did not disclose the name or location of the mega airport contract won by its L&T Construction unit. The scope of work includes design and EPC of passenger terminal building and setting up a new runway and its rehabilitation besides construction of taxiways and aprons and a new elevated eastern cross taxiway said the company in a statement. The project will also see L&T unit building landside roads utility infrastructure drainage and modifications for the existing terminal it stated. As per the contract the Indian engineering giant will also set up baggage handling systems passenger boarding bridges airport security ...
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India s top engineering and construction firm Larsen & Toubro (L&T) said one of its units has secured a contract worth over 70 billion ( 980 million) for design and building of a major airport on EPC (engineering procurement and construction) basis. The company however did not disclose the name or location of the mega airport contract won by its L&T Construction unit. The scope of work includes design and EPC of passenger terminal building and setting up a new runway and its rehabilitation besides construction of taxiways and aprons and a new elevated eastern cross taxiway said the company in a statement. The project will also see L&T unit building landside roads utility infrastructure drainage and modifications for the existing terminal it stated. As per the contract the Indian engineering giant will also set up baggage handling systems passenger boarding bridges airport security ...
Kuwait-based Agility Group is in discussions with leading Swiss logistics group about partnership opportunities between the logistics businesses of the two companies. Headquartered in Basel Switzerland Panalpina is a leading provider of forwarding and logistics services besides specialising in intercontinental air and ocean freight and associated supply chain management. It operates a network of some 500 branches in more than 80 countries employing 15 000 people worldwide. Hubs of Panalpina are situated in Luxembourg at Findel Airport Prague and in Huntsville Alabama at Huntsville International Airport. Confirming the ongoing talks Agility said it was always exploring opportunities to grow its business and maximize shareholder value. However the company stated that no agreement had yet been ...
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Kuwait-based Agility Group is in discussions with leading Swiss logistics group about partnership opportunities between the logistics businesses of the two companies. Headquartered in Basel Switzerland Panalpina is a leading provider of forwarding and logistics services besides specialising in intercontinental air and ocean freight and associated supply chain management. It operates a network of some 500 branches in more than 80 countries employing 15 000 people worldwide. Hubs of Panalpina are situated in Luxembourg at Findel Airport Prague and in Huntsville Alabama at Huntsville International Airport. Confirming the ongoing talks Agility said it was always exploring opportunities to grow its business and maximize shareholder value. However the company stated that no agreement had yet been ...
Dubai s industrial and logistics real estate market remained stable in the six months leading up to 2019 and it now continues to be challenging with increased flight-to-quality and supply still outstripping take up said an industry expert. We will continue to monitor market conditions going into 2019 providing our customers with expert insights to help them decide how best to maximise investment and returns added Andrew Love partner and head of Investment and Commercial Agency at Cavendish Maxwell an independent firm of chartered surveyors and property consultants. Love was commenting on the firm s Dubai Industrial and Logistics Report for 2018 which offers a comprehensive and unique outlook on Dubai s overall competitivity as a logistics hub the infrastructure available supply and demand and market sector opportunities for growth and investment. The report was compiled by the firm...
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Dubai s industrial and logistics real estate market remained stable in the six months leading up to 2019 and it now continues to be challenging with increased flight-to-quality and supply still outstripping take up said an industry expert. We will continue to monitor market conditions going into 2019 providing our customers with expert insights to help them decide how best to maximise investment and returns added Andrew Love partner and head of Investment and Commercial Agency at Cavendish Maxwell an independent firm of chartered surveyors and property consultants. Love was commenting on the firm s Dubai Industrial and Logistics Report for 2018 which offers a comprehensive and unique outlook on Dubai s overall competitivity as a logistics hub the infrastructure available supply and demand and market sector opportunities for growth and investment. The report was compiled by the firm...
Preparations are underway for the Gulf Construction Expo the leading construction and building expo in the Northern Gulf region which kicks off on April 23 at the Bahrain International Exhibition and Convention Centre. The three-day event is being held under the patronage of HRH Prince Khalifa bin Salman Al Khalifa Prime Minister of the Kingdom of Bahrain said the event organiser Hilal Conferences and Exhibitions (HCE). Jubran Abdulrahman the managing director of HCE said: The annual expo continues to build on the event s successful foundations set over 10 years ago. This year s Gulf Construction Expo carries the strategic sponsorship of Haji Hassan and Tamkeen. Gulf Construction Expo is held annually in conjunction with two other major events - the Gulf Property Show and Interiors Expo - thus providing the biggest integrated business-to-business showcase for the construction interiors and property sectors ever ...
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Preparations are underway for the Gulf Construction Expo the leading construction and building expo in the Northern Gulf region which kicks off on April 23 at the Bahrain International Exhibition and Convention Centre. The three-day event is being held under the patronage of HRH Prince Khalifa bin Salman Al Khalifa Prime Minister of the Kingdom of Bahrain said the event organiser Hilal Conferences and Exhibitions (HCE). Jubran Abdulrahman the managing director of HCE said: The annual expo continues to build on the event s successful foundations set over 10 years ago. This year s Gulf Construction Expo carries the strategic sponsorship of Haji Hassan and Tamkeen. Gulf Construction Expo is held annually in conjunction with two other major events - the Gulf Property Show and Interiors Expo - thus providing the biggest integrated business-to-business showcase for the construction interiors and property sectors ever ...
Hotel supply in the Middle East and Africa (MEA) continues to grow as the region has registered a total of 597 properties with 154 239 rooms currently under construction. Of the total about 446 hotels (127 115 rooms) are in the Middle East while the rest are in the African region the January Pipeline Report from STR Global showed. The UAE topped the MEA list for the largest number of rooms under construction with the total put at 56 570 rooms. Two other countries reported more than 10 000 rooms under construction: Saudi Arabia (43 463 rooms) and Qatar (13 633 rooms). The Middle East room construction total represents a 21.0 per cent increase compared with January 2018 while the Africa room construction total represents a 4.2 per cent increase year over year. The report also highlighted projects in the final planning and planning stages. A total of 43 876 rooms in 203 hotels were registered in the final p...
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Hotel supply in the Middle East and Africa (MEA) continues to grow as the region has registered a total of 597 properties with 154 239 rooms currently under construction. Of the total about 446 hotels (127 115 rooms) are in the Middle East while the rest are in the African region the January Pipeline Report from STR Global showed. The UAE topped the MEA list for the largest number of rooms under construction with the total put at 56 570 rooms. Two other countries reported more than 10 000 rooms under construction: Saudi Arabia (43 463 rooms) and Qatar (13 633 rooms). The Middle East room construction total represents a 21.0 per cent increase compared with January 2018 while the Africa room construction total represents a 4.2 per cent increase year over year. The report also highlighted projects in the final planning and planning stages. A total of 43 876 rooms in 203 hotels were registered in the final p...
Hotel supply in the Middle East and Africa (MEA) continues to grow as the region has registered a total of 597 properties with 154 239 rooms currently under construction. Of the total about 446 hotels (127 115 rooms) are in the Middle East while the rest are in the African region the January Pipeline Report from STR Global showed. The UAE topped the MEA list for the largest number of rooms under construction with the total put at 56 570 rooms. Two other countries reported more than 10 000 rooms under construction: Saudi Arabia (43 463 rooms) and Qatar (13 633 rooms). The Middle East room construction total represents a 21.0 per cent increase compared with January 2018 while the Africa room construction total represents a 4.2 per cent increase year over year. The report also highlighted projects in the final planning and planning stages. A total of 43 876 rooms in 203 hotels were registered in the final p...
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Hotel supply in the Middle East and Africa (MEA) continues to grow as the region has registered a total of 597 properties with 154 239 rooms currently under construction. Of the total about 446 hotels (127 115 rooms) are in the Middle East while the rest are in the African region the January Pipeline Report from STR Global showed. The UAE topped the MEA list for the largest number of rooms under construction with the total put at 56 570 rooms. Two other countries reported more than 10 000 rooms under construction: Saudi Arabia (43 463 rooms) and Qatar (13 633 rooms). The Middle East room construction total represents a 21.0 per cent increase compared with January 2018 while the Africa room construction total represents a 4.2 per cent increase year over year. The report also highlighted projects in the final planning and planning stages. A total of 43 876 rooms in 203 hotels were registered in the final p...
The real estate sector in Sharjah has seen a big boom with 54 125 transactions valued at Dh22.5 billion ( 6.12 billion) in 2018 as per the annual realty transactions report released by the Sharjah Real Estate Registration Directorate. The real estate deals sealed last year covered over 52 million sq ft while the mortgages transactions amounted to Dh14.9 billion reported state news agency Wam citing a top official here. Abdul Aziz Ahmed Al Shamsi director-general of the Sharjah Real Estate Registration Directorate attributed this exceptional growth to the big and diverse investment opportunities available in the emirate. This is apart from the irresistible financing facilities offered by the banks and banking institutions operating in public and private sectors here while the property prices have become more accessible to all types and levels of investors who joined the real estate market at ease. The recen...
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The real estate sector in Sharjah has seen a big boom with 54 125 transactions valued at Dh22.5 billion ( 6.12 billion) in 2018 as per the annual realty transactions report released by the Sharjah Real Estate Registration Directorate. The real estate deals sealed last year covered over 52 million sq ft while the mortgages transactions amounted to Dh14.9 billion reported state news agency Wam citing a top official here. Abdul Aziz Ahmed Al Shamsi director-general of the Sharjah Real Estate Registration Directorate attributed this exceptional growth to the big and diverse investment opportunities available in the emirate. This is apart from the irresistible financing facilities offered by the banks and banking institutions operating in public and private sectors here while the property prices have become more accessible to all types and levels of investors who joined the real estate market at ease. The recen...
Oman s real estate market witnessed slow growth in 2018 but there were improvements in certain areas according to Cavendish Maxwell a leading real estate consultancy and chartered surveying firm. The real estate transactions increased by 1.2 per cent compared to 2017 although sales contracts decreased by a percentage point stated the expert in its Oman Market Report for 2018. This marks the second comprehensive report on the health of Oman s real estate industry covering the residential office industrial retail and hospitality sectors within the industry. The unique in-depth market report was compiled by the firm s in-house strategic consulting and research team in collaboration with its extensive client and partner portfolio based on official data from the National Centre for Statistics and Information (NCSI) Ministry of Housing and the Ministry of Tourism in Oman. Commenting on the repo...
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Oman s real estate market witnessed slow growth in 2018 but there were improvements in certain areas according to Cavendish Maxwell a leading real estate consultancy and chartered surveying firm. The real estate transactions increased by 1.2 per cent compared to 2017 although sales contracts decreased by a percentage point stated the expert in its Oman Market Report for 2018. This marks the second comprehensive report on the health of Oman s real estate industry covering the residential office industrial retail and hospitality sectors within the industry. The unique in-depth market report was compiled by the firm s in-house strategic consulting and research team in collaboration with its extensive client and partner portfolio based on official data from the National Centre for Statistics and Information (NCSI) Ministry of Housing and the Ministry of Tourism in Oman. Commenting on the repo...
The second edition of Bahrain Real Estate Investment Expo 2019 (#BREIX19) kicked off today (February 7) at Bahrain City Centre featuring major properties of several development companies in the kingdom. The three-day event was inaugurated by Head of the Survey and Land Registration Bureau and Board Chairman of the Real Estate Regulatory Authority (RERA) Shaikh Salman bin Adullah bin Hamad Al Khalifa reported BNA. Shaikh Salman stressed the importance of such exhibitions in boosting the role of the real estate sector as one of the most important non-oil economic contributors to the Gross National Product. The real estate market in Bahrain is secure stable and capable of adapting to the economic conditions. He pointed out the government s policies to boost the role of the private sector in implementing projects in line with the Economic Vision 2030 he remarked. Shaikh Salman called upon investors from B...
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The second edition of Bahrain Real Estate Investment Expo 2019 (#BREIX19) kicked off today (February 7) at Bahrain City Centre featuring major properties of several development companies in the kingdom. The three-day event was inaugurated by Head of the Survey and Land Registration Bureau and Board Chairman of the Real Estate Regulatory Authority (RERA) Shaikh Salman bin Adullah bin Hamad Al Khalifa reported BNA. Shaikh Salman stressed the importance of such exhibitions in boosting the role of the real estate sector as one of the most important non-oil economic contributors to the Gross National Product. The real estate market in Bahrain is secure stable and capable of adapting to the economic conditions. He pointed out the government s policies to boost the role of the private sector in implementing projects in line with the Economic Vision 2030 he remarked. Shaikh Salman called upon investors from B...
The UAE s Ministry of Climate Change and Environment (MoCCAE) has issued a resolution on the use of recycled aggregates from construction and demolition waste for road construction and other infrastructure projects. The ministry developed the document in coordination with the Ministry of Infrastructure Development and municipal authorities reported state news agency Wam. The resolution outlines environmental prerequisites for recycling cement concrete steel bricks gravel sand asphalt timber and gypsum waste into new high-value materials. It also mandates concerned local departments to ensure that contractors collect and sort waste generated at construction and demolition sites. Depending on their size the recycled materials can be used for paving roads grading dirt roads and parking areas or earth filling at construction sites. The aggregates must undergo quality testing in laboratories to verify their c...
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The UAE s Ministry of Climate Change and Environment (MoCCAE) has issued a resolution on the use of recycled aggregates from construction and demolition waste for road construction and other infrastructure projects. The ministry developed the document in coordination with the Ministry of Infrastructure Development and municipal authorities reported state news agency Wam. The resolution outlines environmental prerequisites for recycling cement concrete steel bricks gravel sand asphalt timber and gypsum waste into new high-value materials. It also mandates concerned local departments to ensure that contractors collect and sort waste generated at construction and demolition sites. Depending on their size the recycled materials can be used for paving roads grading dirt roads and parking areas or earth filling at construction sites. The aggregates must undergo quality testing in laboratories to verify their c...
DHL Global Forwarding a leading international provider of freight services has consolidated its portfolio of humanitarian logistics services within its first Global Competence Center for Humanitarian Logistics designed to meet growing global demand for these logistics services. The centre located in Dubai UAE will see close coordination across all DHL business divisions to provide all related services and products to meet customers needs said a statement from the company. Fatima Ait Bendawad a DHL veteran with over 15 years of experience in creating providing and implementing solutions for complex humanitarian operations has been appointed as the centre head it said. The centre offers non-governmental organisations aid agencies and their suppliers and manufacturers a broad range of services including air and ocean freight customs clearance warehousing and local distribution of humanitarian shipments it added. br /...
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DHL Global Forwarding a leading international provider of freight services has consolidated its portfolio of humanitarian logistics services within its first Global Competence Center for Humanitarian Logistics designed to meet growing global demand for these logistics services. The centre located in Dubai UAE will see close coordination across all DHL business divisions to provide all related services and products to meet customers needs said a statement from the company. Fatima Ait Bendawad a DHL veteran with over 15 years of experience in creating providing and implementing solutions for complex humanitarian operations has been appointed as the centre head it said. The centre offers non-governmental organisations aid agencies and their suppliers and manufacturers a broad range of services including air and ocean freight customs clearance warehousing and local distribution of humanitarian shipments it added. br /...
UAE-based National Marine Dredging Company (NMDC) said it has been awarded a major contract by Abu Dhabi National Oil Company (Adnoc) to provide dredging land reclamation and marine construction services contract for the first phase of development of the Ghasha Concession in the UAE capital. Under the terms of the contract NMDC will construct 10 new artificial islands and two causeways as well as expand an existing island Al Ghaf. The project is expected to take 38 months to complete and will provide the infrastructure required to further develop drill and produce gas from the sour gas fields in the Ghasha Concession. At peak construction the project is expected to employ over 3 500 people. The Ghasha Concession consists of the Hail Ghasha Dalma Nasr and Mubarraz offshore sour gas fields. The contract valued at Dh5 billion ( 1.36 billion) comes as part of the construction of multiple artificial islands in the fi...
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UAE-based National Marine Dredging Company (NMDC) said it has been awarded a major contract by Abu Dhabi National Oil Company (Adnoc) to provide dredging land reclamation and marine construction services contract for the first phase of development of the Ghasha Concession in the UAE capital. Under the terms of the contract NMDC will construct 10 new artificial islands and two causeways as well as expand an existing island Al Ghaf. The project is expected to take 38 months to complete and will provide the infrastructure required to further develop drill and produce gas from the sour gas fields in the Ghasha Concession. At peak construction the project is expected to employ over 3 500 people. The Ghasha Concession consists of the Hail Ghasha Dalma Nasr and Mubarraz offshore sour gas fields. The contract valued at Dh5 billion ( 1.36 billion) comes as part of the construction of multiple artificial islands in the fi...
France-based Lagardère Travel Retail has appointed GAC Dubai s Contract Logistics team to handle a range of goods sold at Duty Free retail stores at airports in Saudi Arabia and the future Abu Dhabi Midfield Terminal Complex (MTC). Under the multi-year agreement signed by the two companies commencing March 1 GAC Dubai will take care of the port haulage receipt storage pick/pack transportation customs clearance and Federal Tax Authority documentation for goods including chocolates fine foods fashion beverages electronics cigarettes and cigars personal care perfumery and make-up said a statement from the company. The companies expects to manage approximately 17 000 SKUs (stock keeping units) across a variety of product types and will also handle the formalities required for the storage and handling of some categories of beverages on behalf of Lagardère Travel Retail it said. Part of GAC Dubai s con...
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France-based Lagardère Travel Retail has appointed GAC Dubai s Contract Logistics team to handle a range of goods sold at Duty Free retail stores at airports in Saudi Arabia and the future Abu Dhabi Midfield Terminal Complex (MTC). Under the multi-year agreement signed by the two companies commencing March 1 GAC Dubai will take care of the port haulage receipt storage pick/pack transportation customs clearance and Federal Tax Authority documentation for goods including chocolates fine foods fashion beverages electronics cigarettes and cigars personal care perfumery and make-up said a statement from the company. The companies expects to manage approximately 17 000 SKUs (stock keeping units) across a variety of product types and will also handle the formalities required for the storage and handling of some categories of beverages on behalf of Lagardère Travel Retail it said. Part of GAC Dubai s con...
Increased government spending and progress on giga-project developments such as the King Salman Energy Park (Spark) provide a catalyst for future investment opportunities in Saudi Arabia according to JLL a leading real estate investment and advisory firm. With stronger oil revenues and progress on new social reforms the kingdom s GDP growth levels are expected to register 2.4 per cent in 2018 according to Oxford Economics up from -0.9 per cent in 2017 stated JLL in its report. The 2018 Year in Review provided an overview of the Saudi real estate s market performance across the residential office retail and hotel sectors in light of macro-economic factors and new government initiatives affecting the market s future outlook. The year 2019 is expected to witness ongoing activity on the back of the kingdom s largest-ever expansionary budget - SR1 trillion ( 266 billion) in spending - and commitm...
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Increased government spending and progress on giga-project developments such as the King Salman Energy Park (Spark) provide a catalyst for future investment opportunities in Saudi Arabia according to JLL a leading real estate investment and advisory firm. With stronger oil revenues and progress on new social reforms the kingdom s GDP growth levels are expected to register 2.4 per cent in 2018 according to Oxford Economics up from -0.9 per cent in 2017 stated JLL in its report. The 2018 Year in Review provided an overview of the Saudi real estate s market performance across the residential office retail and hotel sectors in light of macro-economic factors and new government initiatives affecting the market s future outlook. The year 2019 is expected to witness ongoing activity on the back of the kingdom s largest-ever expansionary budget - SR1 trillion ( 266 billion) in spending - and commitm...
Saudi Arabia s real estate market which had over the last few years seen a major surge in property prices will be seeing a healthy correction in 2019 according to KPMG Al Fozan & Partners a leading audit tax and advisory services company. This correction is expected to continue over the short-term but the market will pick up in the medium to long term given the recent government initiatives to incentivise the sector particularly the Ministry of Housing initiatives remarked Islam the Albayaa the head of advisory at the company. Last November Saudi Arabia s Ministry of Housing announced plans to build nearly 19 500 residential units for its citizens through Sakani its major housing development programme. Additionally new real estate projects are planned through public-private-partnerships he stated. On the other hand the Public Investment Fund the kingdom s sovereign wealth f...
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Saudi Arabia s real estate market which had over the last few years seen a major surge in property prices will be seeing a healthy correction in 2019 according to KPMG Al Fozan & Partners a leading audit tax and advisory services company. This correction is expected to continue over the short-term but the market will pick up in the medium to long term given the recent government initiatives to incentivise the sector particularly the Ministry of Housing initiatives remarked Islam the Albayaa the head of advisory at the company. Last November Saudi Arabia s Ministry of Housing announced plans to build nearly 19 500 residential units for its citizens through Sakani its major housing development programme. Additionally new real estate projects are planned through public-private-partnerships he stated. On the other hand the Public Investment Fund the kingdom s sovereign wealth f...
he Dubai Land Department (DLD) has announced a major real estate promotion campaign for the year covering 10 major countries including the UAE Saudi Arabia Egypt France the US China the UK India Canada and Germany. Unveiling its plans the Real Estate Investment Promotion Investment Management unit of DLD said promotion activities include 20 different exhibitions and conferences and property events. The selection of countries was based on specific criteria most notably the activities of the investors who hold nationalities from these countries remarked Sultan Butti bin Mejren the director-general of the DLD while speaking at a press conference. Since they are considered the most interested in the real estate market in Dubai the DLD is eager to reach them and work on their happiness he stated. This year has already been an active year for us after having received a huge delegation from the US and Singap...
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he Dubai Land Department (DLD) has announced a major real estate promotion campaign for the year covering 10 major countries including the UAE Saudi Arabia Egypt France the US China the UK India Canada and Germany. Unveiling its plans the Real Estate Investment Promotion Investment Management unit of DLD said promotion activities include 20 different exhibitions and conferences and property events. The selection of countries was based on specific criteria most notably the activities of the investors who hold nationalities from these countries remarked Sultan Butti bin Mejren the director-general of the DLD while speaking at a press conference. Since they are considered the most interested in the real estate market in Dubai the DLD is eager to reach them and work on their happiness he stated. This year has already been an active year for us after having received a huge delegation from the US and Singap...
Abu Dhabi s real estate market faced key challenges last year and with flight-to-quality and market corrections continuing this year as well the market activity was likely to remain subdued during the first half of 2019 said leading property consultancy and chartered surveying firm Cavendish Maxwell. On the residential sector Cavendish Maxwell said prices continued to decrease with villas/townhouses now costing on average 6.2 per cent lesser than a year ago. Apartment prices in Abu Dhabi Investment Zones also declined by 5.8 per cent over the same period stated the industry expert in its Abu Dhabi Property Market Report for 2018. The unique report was compiled by the firm s in-house strategic consulting and research team drawing data from its real estate intelligence platform Property Monitor and in collaboration with its extensive client and partner portfolio. The comprehensive report offers key...
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Abu Dhabi s real estate market faced key challenges last year and with flight-to-quality and market corrections continuing this year as well the market activity was likely to remain subdued during the first half of 2019 said leading property consultancy and chartered surveying firm Cavendish Maxwell. On the residential sector Cavendish Maxwell said prices continued to decrease with villas/townhouses now costing on average 6.2 per cent lesser than a year ago. Apartment prices in Abu Dhabi Investment Zones also declined by 5.8 per cent over the same period stated the industry expert in its Abu Dhabi Property Market Report for 2018. The unique report was compiled by the firm s in-house strategic consulting and research team drawing data from its real estate intelligence platform Property Monitor and in collaboration with its extensive client and partner portfolio. The comprehensive report offers key...
Diyar Al Muharraq one of the leading urban developers in Bahrain has signed up as the Diamond sponsor for the Bahrain Real Estate Investment Expo 2019 (BRIX19) to be held at City Centre Bahrain next month. A key event that focuses on the housing and property investment opportunities being offered in the Bahraini local market BRIX will run from February 7 to 9. During the four-day expo Diyar Al Muharraq will be showcasing two of its leading projects that offer ideal freehold opportunities Al Bareh and Al Naseem. Al Naseem comprises 4 villa types - Duha El Nasayem Sabaah El Nasayem Aseel El Nasayem and Layl El Nasayem - which have been designed with unique features and standalone characteristics - to deliver the complete luxury vacation experience. The villas feature interior designs that show care and precision in every detail with a wide living area that embraces a wholesome family lifestyle said the Bahraini dev...
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Diyar Al Muharraq one of the leading urban developers in Bahrain has signed up as the Diamond sponsor for the Bahrain Real Estate Investment Expo 2019 (BRIX19) to be held at City Centre Bahrain next month. A key event that focuses on the housing and property investment opportunities being offered in the Bahraini local market BRIX will run from February 7 to 9. During the four-day expo Diyar Al Muharraq will be showcasing two of its leading projects that offer ideal freehold opportunities Al Bareh and Al Naseem. Al Naseem comprises 4 villa types - Duha El Nasayem Sabaah El Nasayem Aseel El Nasayem and Layl El Nasayem - which have been designed with unique features and standalone characteristics - to deliver the complete luxury vacation experience. The villas feature interior designs that show care and precision in every detail with a wide living area that embraces a wholesome family lifestyle said the Bahraini dev...
The regional construction sector would hold greater opportunities for the digitisation and revitalisation of built assets as well as adaptive modular design as a construction tool following 2018 s slowdown in construction activities attributed to reduced oil prices and subsequent cuts to project spending across the region in 2018 said International construction and real estate consultancy Drees & Sommer. With 3 200 employees in 40 locations globally Drees & Sommer has been supporting private and public clients and investors for almost 50 years in all aspects of real estate and infrastructure. As per the company s predictions there will be an increased momentum in the Mideast construction sector mainly driven by government support through long-term economic diversification plans including Abu Dhabi Vision 2030 and Saudi Vision 2030. The consultancy believes these agendas will develop fundamental sectors including hospit...
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The regional construction sector would hold greater opportunities for the digitisation and revitalisation of built assets as well as adaptive modular design as a construction tool following 2018 s slowdown in construction activities attributed to reduced oil prices and subsequent cuts to project spending across the region in 2018 said International construction and real estate consultancy Drees & Sommer. With 3 200 employees in 40 locations globally Drees & Sommer has been supporting private and public clients and investors for almost 50 years in all aspects of real estate and infrastructure. As per the company s predictions there will be an increased momentum in the Mideast construction sector mainly driven by government support through long-term economic diversification plans including Abu Dhabi Vision 2030 and Saudi Vision 2030. The consultancy believes these agendas will develop fundamental sectors including hospit...
Senior industry figures from China and the UAE celebrated the groundbreaking of the Roadbot Tire Project Kizad (Roadbot) today marking the development of the first tyre manufacturing plant in the UAE and the growth of downstream industry in Kizad Abu Dhabi s industrial hub and part of Abu Dhabi Ports. Developed by Chinese tyre manufacturer Roadbot with a total investment of Dh2.2 billion ( 614.37 million) the Roadbot factory is being built in Kizad s China-UAE Industrial Capacity Cooperation Demonstration Zone in line with international standards and equipped with latest innovative solutions in tyre production. It will be fully operational by October 2020. The 2.2-sq-km Demonstration Zone is being developed by Jiangsu Provincial Overseas Cooperation and Investment Company (JOCIC) and Roadbot becomes the first Chinese firm to set up there since JOCIC and Abu Dhabi Ports signed a 50-year agreement in...
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Senior industry figures from China and the UAE celebrated the groundbreaking of the Roadbot Tire Project Kizad (Roadbot) today marking the development of the first tyre manufacturing plant in the UAE and the growth of downstream industry in Kizad Abu Dhabi s industrial hub and part of Abu Dhabi Ports. Developed by Chinese tyre manufacturer Roadbot with a total investment of Dh2.2 billion ( 614.37 million) the Roadbot factory is being built in Kizad s China-UAE Industrial Capacity Cooperation Demonstration Zone in line with international standards and equipped with latest innovative solutions in tyre production. It will be fully operational by October 2020. The 2.2-sq-km Demonstration Zone is being developed by Jiangsu Provincial Overseas Cooperation and Investment Company (JOCIC) and Roadbot becomes the first Chinese firm to set up there since JOCIC and Abu Dhabi Ports signed a 50-year agreement in...
Preparations are underway for the successful launch of the second edition of Bahrain Real Estate Investment Expo 2019 (#BREIX19) in Bahrain City Centre next month following the success of the pilot exhibition held early in 2018. A key event that focuses on the housing and property investment opportunities offered at the Bahraini local market #BREIX19 will run from February 7 to 9. The exhibition will be held under the patronage of Shaikh Salman bin Abdulla Al Khalifa Chairman of Real Estate Regulatory Authority and President of the Survey and Land Registration Bureau (SLRB). The property show emphasizes the offerings of readily available and licensed properties all at the convenience of a shopping mall which guarantees for visitors easy access to a wide array of quality projects in one place said the event organisers Expressions Marketing Communications. Aseel Al Mohandis the founder and director of Exp...
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Preparations are underway for the successful launch of the second edition of Bahrain Real Estate Investment Expo 2019 (#BREIX19) in Bahrain City Centre next month following the success of the pilot exhibition held early in 2018. A key event that focuses on the housing and property investment opportunities offered at the Bahraini local market #BREIX19 will run from February 7 to 9. The exhibition will be held under the patronage of Shaikh Salman bin Abdulla Al Khalifa Chairman of Real Estate Regulatory Authority and President of the Survey and Land Registration Bureau (SLRB). The property show emphasizes the offerings of readily available and licensed properties all at the convenience of a shopping mall which guarantees for visitors easy access to a wide array of quality projects in one place said the event organisers Expressions Marketing Communications. Aseel Al Mohandis the founder and director of Exp...
Haji Hassan Group a diversified construction-focused group based in Bahrain has won the best stand award at Gulf Construction Expo 2018 held in Manama said the organisers Hilal Conferences and Exhibitions (HCE). Gulf Construction Expo the Northern Gulf s leading expo for construction and building materials is held annually in conjunction with two other big events Gulf Property Show and Interiors Expo providing the biggest integrated business-to-business showcase for the construction interiors and property sectors ever to be staged in the Northern Gulf. The Best Stand Award recognises the imagination and implementation of a marketing vision to promote an exhibitors products and services remarked Jubran Abdulrahman the managing director of HCE. Haji Hassan Group is a founding company in the construction and building sectors in Bahrain. Their stand at Gulf Construction Expo was voted number one via the...
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Haji Hassan Group a diversified construction-focused group based in Bahrain has won the best stand award at Gulf Construction Expo 2018 held in Manama said the organisers Hilal Conferences and Exhibitions (HCE). Gulf Construction Expo the Northern Gulf s leading expo for construction and building materials is held annually in conjunction with two other big events Gulf Property Show and Interiors Expo providing the biggest integrated business-to-business showcase for the construction interiors and property sectors ever to be staged in the Northern Gulf. The Best Stand Award recognises the imagination and implementation of a marketing vision to promote an exhibitors products and services remarked Jubran Abdulrahman the managing director of HCE. Haji Hassan Group is a founding company in the construction and building sectors in Bahrain. Their stand at Gulf Construction Expo was voted number one via the...
With conditions remaining soft across most sectors of the UAE s real estate market in 2018 the government launched a number of new initiatives to boost demand. In the year ahead market performance will heavily depend on how quickly these investments and regulations have an impact said JLL a leading professional services firm that specialises in real estate and investment management. The general economic environment remained subdued in 2018 with UAE GDP growth at around 2 per cent a slight increase from 2017 stated JLL in its 2018 Year in Review report. The review report provides an overview of the UAE real estate s market performance across the residential office retail and hotel sectors in light of economic conditions and new government initiatives affecting the market s future outlook. In 2019 the country s GDP is expected to grow at a slightly higher rate (3 per cent) supported by an exp...
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With conditions remaining soft across most sectors of the UAE s real estate market in 2018 the government launched a number of new initiatives to boost demand. In the year ahead market performance will heavily depend on how quickly these investments and regulations have an impact said JLL a leading professional services firm that specialises in real estate and investment management. The general economic environment remained subdued in 2018 with UAE GDP growth at around 2 per cent a slight increase from 2017 stated JLL in its 2018 Year in Review report. The review report provides an overview of the UAE real estate s market performance across the residential office retail and hotel sectors in light of economic conditions and new government initiatives affecting the market s future outlook. In 2019 the country s GDP is expected to grow at a slightly higher rate (3 per cent) supported by an exp...
Leading global logistics provider Agility has opened a 28 000-sq-m facility in Bahrain to expand its warehousing freight transport and specialty capabilities and serve as a regional logistics and distribution hub. The new facility located in Hidd supports contract logistics with ambient chilled and frozen storage as well as solutions for high-value cargo. It will offer secure records management and storage and turnkey logistics for Bahrain-based manufacturers in the fast-moving consumer goods industry. Agility is a leading provider of cross-border transportation owning and operating a fleet of over 200 vehicles. Agility also facilitates customs brokerage for a number of multinational organisations based in Bahrain. Essa Al-Saleh CEO of Agility Global Integrated Logistics said: Bahrain is one of our key operational markets in the Middle East offering high-quality infrastructure and a diverse community of regional busines...
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Leading global logistics provider Agility has opened a 28 000-sq-m facility in Bahrain to expand its warehousing freight transport and specialty capabilities and serve as a regional logistics and distribution hub. The new facility located in Hidd supports contract logistics with ambient chilled and frozen storage as well as solutions for high-value cargo. It will offer secure records management and storage and turnkey logistics for Bahrain-based manufacturers in the fast-moving consumer goods industry. Agility is a leading provider of cross-border transportation owning and operating a fleet of over 200 vehicles. Agility also facilitates customs brokerage for a number of multinational organisations based in Bahrain. Essa Al-Saleh CEO of Agility Global Integrated Logistics said: Bahrain is one of our key operational markets in the Middle East offering high-quality infrastructure and a diverse community of regional busines...
Dubai s real estate market recorded a high-transaction volume during the last ten days of 2018 with a value of over Dh19 billion ( 5.1 billion) through 2 081 transactions said the director general of Dubai Land Department (DLD). Sultan Butti bin Mejren that these figures are critical in the analytical readings and have a direct positive impact in supporting 2018 s outcomes. They are also a positive indicator of a rising wave in the real estate sector which is expected to begin in the new year he added. This activity affirms the attractiveness of Dubai s real estate sector specifically the demand from buyers and investors who are benefitting from legislation and investment incentives recently announced by HH Sheikh Mohammed bin Rashid Al Maktoum Vice President and Prime Minister of the UAE and Ruler of Dubai to make Dubai the preferred investment destination Bin Mejren said. Thes...
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Dubai s real estate market recorded a high-transaction volume during the last ten days of 2018 with a value of over Dh19 billion ( 5.1 billion) through 2 081 transactions said the director general of Dubai Land Department (DLD). Sultan Butti bin Mejren that these figures are critical in the analytical readings and have a direct positive impact in supporting 2018 s outcomes. They are also a positive indicator of a rising wave in the real estate sector which is expected to begin in the new year he added. This activity affirms the attractiveness of Dubai s real estate sector specifically the demand from buyers and investors who are benefitting from legislation and investment incentives recently announced by HH Sheikh Mohammed bin Rashid Al Maktoum Vice President and Prime Minister of the UAE and Ruler of Dubai to make Dubai the preferred investment destination Bin Mejren said. Thes...
ASGC one of the leading construction groups in the UAE has inked a strategic partnership deal with UAE telecom giant Etisalat for provision of enterprise level cloud solutions combined with its secure managed IP connect service to the company. This comes as part of the Emirati construction group s digital transformation roadmap said a top official. We ve selected Etisalat and their OneCloud Services as it perfectly meets our needs from scalability flexibility reliability and performance perspectives while at the same time offering the most attractive ROI among the cloud vendors that we ve analysed noted Herbert Fuchs the chief information officer at ASGC. Etisalat s OneCloud platform represents one of the foundations in our digital transformation roadmap which spans across all aspects of our business ranging from the IT operations and service delivery to cross departmental core business proces...
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ASGC one of the leading construction groups in the UAE has inked a strategic partnership deal with UAE telecom giant Etisalat for provision of enterprise level cloud solutions combined with its secure managed IP connect service to the company. This comes as part of the Emirati construction group s digital transformation roadmap said a top official. We ve selected Etisalat and their OneCloud Services as it perfectly meets our needs from scalability flexibility reliability and performance perspectives while at the same time offering the most attractive ROI among the cloud vendors that we ve analysed noted Herbert Fuchs the chief information officer at ASGC. Etisalat s OneCloud platform represents one of the foundations in our digital transformation roadmap which spans across all aspects of our business ranging from the IT operations and service delivery to cross departmental core business proces...
India s top engineering and construction firm Larsen & Toubro (L&T) said one of its key subsidiaries has secured 299 million worth of engineering procurement and construction (EPC) contracts from the GCC region. As per the deal the L&T Power Transmission and Distribution Business will construct 115kV substations with associated transmission lines and cable circuits in Saudi Arabia while it will set up 132kV cable works for a substation in Dubai UAE. Also the Indian construction giant has clinched an EHV substation order from a reputed customer in Oman.- TradeArabia News Service ...
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India s top engineering and construction firm Larsen & Toubro (L&T) said one of its key subsidiaries has secured 299 million worth of engineering procurement and construction (EPC) contracts from the GCC region. As per the deal the L&T Power Transmission and Distribution Business will construct 115kV substations with associated transmission lines and cable circuits in Saudi Arabia while it will set up 132kV cable works for a substation in Dubai UAE. Also the Indian construction giant has clinched an EHV substation order from a reputed customer in Oman.- TradeArabia News Service ...
Saudi Real Estate Refinance Company (SRC) has established a major sukuk programme with plans to issue up to SR11 billion ( 2.93 billion) bonds a statement said. Proceeds from the sukuk issuance will help SRC fund its business strategy to increase the liquidity in the Saudi Arabian mortgage market in compliance with its mission statement and the pursuit of its objectives a company statement was quoted as saying by Argaam website. The SAR-denominated sukuk will be issued and offered at different intervals through multiple issuances the statement said. HSBC Saudi Arabia has been mandated as sole lead manager and book-runner to arrange investor meetings for the sukuk it said. ...
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Saudi Real Estate Refinance Company (SRC) has established a major sukuk programme with plans to issue up to SR11 billion ( 2.93 billion) bonds a statement said. Proceeds from the sukuk issuance will help SRC fund its business strategy to increase the liquidity in the Saudi Arabian mortgage market in compliance with its mission statement and the pursuit of its objectives a company statement was quoted as saying by Argaam website. The SAR-denominated sukuk will be issued and offered at different intervals through multiple issuances the statement said. HSBC Saudi Arabia has been mandated as sole lead manager and book-runner to arrange investor meetings for the sukuk it said. ...
As the world moves into 2019 the future for the engineering and construction sector is looking more positive than it has for several years said an industry expert. We expect to see a continued slow but steady recovery over the next 12 months. Despite persistent instability in oil prices energy firms have unleashed a new wave of capital spending and money is flowing again albeit with a sharp focus on capital efficiency remarked Paul Donnelly the director for industry marketing at AspenTech a major provider of software and services for the process industries headquartered in Massachussets (US). Hiring is once again underway in engineering and construction sector after years of declines from layoffs and retirements. These new hires coupled with a wave of recent mergers and acquisitions bring new challenges with respect to successful project execution he stated. With smaller payrolls less experienced staff and ...
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As the world moves into 2019 the future for the engineering and construction sector is looking more positive than it has for several years said an industry expert. We expect to see a continued slow but steady recovery over the next 12 months. Despite persistent instability in oil prices energy firms have unleashed a new wave of capital spending and money is flowing again albeit with a sharp focus on capital efficiency remarked Paul Donnelly the director for industry marketing at AspenTech a major provider of software and services for the process industries headquartered in Massachussets (US). Hiring is once again underway in engineering and construction sector after years of declines from layoffs and retirements. These new hires coupled with a wave of recent mergers and acquisitions bring new challenges with respect to successful project execution he stated. With smaller payrolls less experienced staff and ...
Mazaya Qatar Real Estate Development said it is studying the possibility of a merger with Al Bandari Real Estate Company one of the country s leading real estate companies with a portfolio of premium luxury projects. The move comes in line with Mazaya s policy to join projects and transactions with a suitable income thus enhancing the position of the company in the local market through the increase of assets. Mazaya s board of directors have issued directives to appoint legal and financial advisors for conducting feasibility studies and later present the final results to the board for appropriate decision making. Confirming the study Hamad bin Ali Al Hedfa Board Member and CEO of Mazaya said: The value of the transaction will be determined after the consultants work has ended and such transaction is expected to have its positive return which results in an increase in the company s profits and assets a...
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Mazaya Qatar Real Estate Development said it is studying the possibility of a merger with Al Bandari Real Estate Company one of the country s leading real estate companies with a portfolio of premium luxury projects. The move comes in line with Mazaya s policy to join projects and transactions with a suitable income thus enhancing the position of the company in the local market through the increase of assets. Mazaya s board of directors have issued directives to appoint legal and financial advisors for conducting feasibility studies and later present the final results to the board for appropriate decision making. Confirming the study Hamad bin Ali Al Hedfa Board Member and CEO of Mazaya said: The value of the transaction will be determined after the consultants work has ended and such transaction is expected to have its positive return which results in an increase in the company s profits and assets a...
Bahrain s government has invited bids from qualified contractors for the construction of 303 residential villas on island 14 at Madinat Salman (formerly Northern Town) off the northern coast of the kingdom. The project is being funded through the grant provided by the Kuwait Fund for Arab Economic Development KFAED under the GCC Development Programme. As per the tender notification preferance will be given to Kuwaiti Grade A Contractors registered with the Kuwaiti Central Tender Committee. For the Bahraini contractors the criterion is that they need to be categorised as Grade A with the Ministry of Housing and Grade AA in building construction projects with the Ministry of Works stated the notification. The last date for submitting bids is tomorrow (December 26) it added .-TradeArabia News Service ...
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Bahrain s government has invited bids from qualified contractors for the construction of 303 residential villas on island 14 at Madinat Salman (formerly Northern Town) off the northern coast of the kingdom. The project is being funded through the grant provided by the Kuwait Fund for Arab Economic Development KFAED under the GCC Development Programme. As per the tender notification preferance will be given to Kuwaiti Grade A Contractors registered with the Kuwaiti Central Tender Committee. For the Bahraini contractors the criterion is that they need to be categorised as Grade A with the Ministry of Housing and Grade AA in building construction projects with the Ministry of Works stated the notification. The last date for submitting bids is tomorrow (December 26) it added .-TradeArabia News Service ...
Tight housing stocks and a rapidly growing population is driving investment into Bahrain s residential buildings construction sector and we expect this to be a major contributor to headline construction industry growth over the coming decade according to an expert. Furthermore industrial construction namely the expansion of the Sitra refinery and the Line 6 Expansion Project at Aluminium Bahrain will boost growth stated Fitch Solutions Macro Research in its 2019 review for Bahrain. We are maintaining our growth forecasts for the Bahrain construction sector for the coming year and beyond. Over 2019 support from regional allies and firmer oil prices will see growth in real terms of 4.6 per cent y-o-y despite the government s likely reduction in capital expenditure it stated. Fitch Solutions is a key provider of credit and macro intelligence solutions helping clients to excel at managing their counterparty ris...
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Tight housing stocks and a rapidly growing population is driving investment into Bahrain s residential buildings construction sector and we expect this to be a major contributor to headline construction industry growth over the coming decade according to an expert. Furthermore industrial construction namely the expansion of the Sitra refinery and the Line 6 Expansion Project at Aluminium Bahrain will boost growth stated Fitch Solutions Macro Research in its 2019 review for Bahrain. We are maintaining our growth forecasts for the Bahrain construction sector for the coming year and beyond. Over 2019 support from regional allies and firmer oil prices will see growth in real terms of 4.6 per cent y-o-y despite the government s likely reduction in capital expenditure it stated. Fitch Solutions is a key provider of credit and macro intelligence solutions helping clients to excel at managing their counterparty ris...
The UAE is among the three leading countries globally where the transport and logistics companies have a favourable environment namely due to the excellent infrastructure and links to the airports and ports according to an analysis by Rolands Petersons member of the board of Norman Logistics. Petersons continued: I presume that the UAE has been the third country for a long period and might even take a higher place if both leading countries in this area China and India would have any difficulties namely the economy of China slow down due to debts or India would discontinue rapid investing into the development of infrastructure. Significant investments into the development of this industry explain the growth of the economy of country he added. The UAE is at the 60th place among 156 countries of the world in relation to the sustainability of the country. It is significant that with certainty of 100 per...
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The UAE is among the three leading countries globally where the transport and logistics companies have a favourable environment namely due to the excellent infrastructure and links to the airports and ports according to an analysis by Rolands Petersons member of the board of Norman Logistics. Petersons continued: I presume that the UAE has been the third country for a long period and might even take a higher place if both leading countries in this area China and India would have any difficulties namely the economy of China slow down due to debts or India would discontinue rapid investing into the development of infrastructure. Significant investments into the development of this industry explain the growth of the economy of country he added. The UAE is at the 60th place among 156 countries of the world in relation to the sustainability of the country. It is significant that with certainty of 100 per...
The Dubai Land Department (DLD) recently organised the Dubai Real Estate Sector Profile forum to announce the results of the real estate performance over the past years and the role of data in enhancing the transparency of the sector. The forum included the launch of the Deraya report and the annual performance report of the real estate sector 2018. The Deraya report was initiated by the Department of Real Estates Studies and Research of the Real Estate Promotion and Investment Management Sector at the DLD in collaboration with Jones Lang LaSalle Incorporated (JLL) and Cavendish Maxwell and the annual report of the real estate sector performance 2018. These reports contribute to enhancing Dubai s real estate market positioning it as the world s leading real estate market. According to the JLL Global Real Estate Transparency Index 2018 Dubai was among the top three global ci...
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The Dubai Land Department (DLD) recently organised the Dubai Real Estate Sector Profile forum to announce the results of the real estate performance over the past years and the role of data in enhancing the transparency of the sector. The forum included the launch of the Deraya report and the annual performance report of the real estate sector 2018. The Deraya report was initiated by the Department of Real Estates Studies and Research of the Real Estate Promotion and Investment Management Sector at the DLD in collaboration with Jones Lang LaSalle Incorporated (JLL) and Cavendish Maxwell and the annual report of the real estate sector performance 2018. These reports contribute to enhancing Dubai s real estate market positioning it as the world s leading real estate market. According to the JLL Global Real Estate Transparency Index 2018 Dubai was among the top three global ci...
The United Arab Emirates has become a member of the Global Alliance for Buildings and Construction (GABC) an initiative launched at the United Nation s Conference of Parties (COP21) held as part of the Lima Paris Action Agenda. Representing the UAE the Ministry of Infrastructure Development signed the membership on the sidelines of the the United Nations meeting in Poland to discuss climate change. Commenting on the announcement Nusseibeh Al Marzouqi the director of sustainability and technical studies at the Ministry of Infrastructure Development said that the UAE has made significant progress in reducing the impact of climate change by launching national programmes and initiatives leading to the development of the construction sector with minimal carbon emissions. The ministry supported by the directives of the UAE government has developed innovative solutions in the field of sustainability buildings and green roads ...
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The United Arab Emirates has become a member of the Global Alliance for Buildings and Construction (GABC) an initiative launched at the United Nation s Conference of Parties (COP21) held as part of the Lima Paris Action Agenda. Representing the UAE the Ministry of Infrastructure Development signed the membership on the sidelines of the the United Nations meeting in Poland to discuss climate change. Commenting on the announcement Nusseibeh Al Marzouqi the director of sustainability and technical studies at the Ministry of Infrastructure Development said that the UAE has made significant progress in reducing the impact of climate change by launching national programmes and initiatives leading to the development of the construction sector with minimal carbon emissions. The ministry supported by the directives of the UAE government has developed innovative solutions in the field of sustainability buildings and green roads ...
Abu Dhabi General Services Company (Musanada) has revealed that work is progressing as planned on the eight new building projects for Abu Dhabi Police General Headquarters said a report. The project estimated to total Dh474 million includes construction of the Civil Defence Centre at Al Falah region three police stations at Al Falah Al Saadiyat and Al Mirfa the K9 Security Inspection Building Phase 2 the boundary wall of the police training city and security gates at Al Haffar area. They also include a design and construction project aimed at enhancing the efficiency of the correctional and punitive facility compound Al Wathba prison and the Abu Dhabi Central Morgue project in Abu Dhabi city a report in Wam said. Helping to improve security performance and enhance safety and security for the community these projects receive the attention and close follow up of His ...
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Abu Dhabi General Services Company (Musanada) has revealed that work is progressing as planned on the eight new building projects for Abu Dhabi Police General Headquarters said a report. The project estimated to total Dh474 million includes construction of the Civil Defence Centre at Al Falah region three police stations at Al Falah Al Saadiyat and Al Mirfa the K9 Security Inspection Building Phase 2 the boundary wall of the police training city and security gates at Al Haffar area. They also include a design and construction project aimed at enhancing the efficiency of the correctional and punitive facility compound Al Wathba prison and the Abu Dhabi Central Morgue project in Abu Dhabi city a report in Wam said. Helping to improve security performance and enhance safety and security for the community these projects receive the attention and close follow up of His ...
Aurecon a leading engineering and infrastructure advisory company said its country manager for Abu Dhabi and client director for infrastructure in the Middle East region Mina Al Jubori has become the first winner of Women in Construction: Professional of the Year award at this year s Middle East (ME) Consultant Awards ceremony held in Dubai. Reflecting the changing landscape of Middle East region s engineering profession the prestigious Middle East (ME) Consultant Award for 2018 introduced this new category to honour women in the male-dominated construction sector. The award category attracted 20 nominations and competition was fierce. It was designed to recognise female engineering professionals who have delivered exceptional work over the past year while also earning the respect of colleagues peers and clients. All nominees must also have worked directly in regional construction projects. The awards ...
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Aurecon a leading engineering and infrastructure advisory company said its country manager for Abu Dhabi and client director for infrastructure in the Middle East region Mina Al Jubori has become the first winner of Women in Construction: Professional of the Year award at this year s Middle East (ME) Consultant Awards ceremony held in Dubai. Reflecting the changing landscape of Middle East region s engineering profession the prestigious Middle East (ME) Consultant Award for 2018 introduced this new category to honour women in the male-dominated construction sector. The award category attracted 20 nominations and competition was fierce. It was designed to recognise female engineering professionals who have delivered exceptional work over the past year while also earning the respect of colleagues peers and clients. All nominees must also have worked directly in regional construction projects. The awards ...
The UAE s newest developer Arada has awarded three main construction contracts at its two record-breaking projects Aljada and Nasma Residences in the northern emirate of Sharjah. Together these contracts will involve the construction of almost 800 new homes all of which are scheduled to be completed by the end of next year. At Aljada the 24 million-sq-ft megaproject that is set to transform Sharjah the contract to build three Areej Apartments blocks was won by Modern Building Contracting Company (MBCC) a major contractor with extensive experience in the UAE and Saudi Arabia. Based within Phase One these buildings will together include 366 units said the developer. Mobilisation is currently taking place onsite and construction work will begin by the end of the year. The firm is already working on the first four Areej Apartment blocks where construction began at the end of July it added. ...
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The UAE s newest developer Arada has awarded three main construction contracts at its two record-breaking projects Aljada and Nasma Residences in the northern emirate of Sharjah. Together these contracts will involve the construction of almost 800 new homes all of which are scheduled to be completed by the end of next year. At Aljada the 24 million-sq-ft megaproject that is set to transform Sharjah the contract to build three Areej Apartments blocks was won by Modern Building Contracting Company (MBCC) a major contractor with extensive experience in the UAE and Saudi Arabia. Based within Phase One these buildings will together include 366 units said the developer. Mobilisation is currently taking place onsite and construction work will begin by the end of the year. The firm is already working on the first four Areej Apartment blocks where construction began at the end of July it added. ...
Danube Properties has awarded a Dh190 million ( 52 million) contract to RAQ Construction a Dubai-based civil construction company for the main construction works of its Bayz project located at a site in Business Bay overlooking Al Khail Road. The Dh450-million ( 122 million) Bayz project offers 456 fully-furnished apartments ranging from studio one and two-bedroom apartments. The project is attractively located on a plot on Al Khail Road a major highway in Dubai located within close proximity to Burj Khalifa the world s tallest tower said the developer in its statement. The 29-storeyed project launched in May 2017 is scheduled for delivery in 2021. This is Danube s only project in Business Bay. The project has already been sold out to buyers and investors it added. Rizwan Sajan the founder and chairman said: We have awarded contracts for 10 out of 11 projects launched so far. T...
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Danube Properties has awarded a Dh190 million ( 52 million) contract to RAQ Construction a Dubai-based civil construction company for the main construction works of its Bayz project located at a site in Business Bay overlooking Al Khail Road. The Dh450-million ( 122 million) Bayz project offers 456 fully-furnished apartments ranging from studio one and two-bedroom apartments. The project is attractively located on a plot on Al Khail Road a major highway in Dubai located within close proximity to Burj Khalifa the world s tallest tower said the developer in its statement. The 29-storeyed project launched in May 2017 is scheduled for delivery in 2021. This is Danube s only project in Business Bay. The project has already been sold out to buyers and investors it added. Rizwan Sajan the founder and chairman said: We have awarded contracts for 10 out of 11 projects launched so far. T...
Emirates Global Aluminium (EGA) the largest industrial company in the UAE outside oil and gas has announced that 75 per cent of the construction work on its giant bauxite mining project in the Republic of Guinea in West Africa has been completed. The project has a total budgeted project cost of 1.4 billion and is being developed by EGA s subsidiary Guinea Alumina Corporation (GAC). It is the largest greenfield investment in the West African country in the last four decades. First bauxite exports are expected during the second half of 2019 said a statement from EGA. GAC has recorded almost 9 million man hours of work without a Lost Time Injury (LTI). The total recordable injury frequency rate at GAC for the year to date is 0.8 per million hours worked less than a quarter the International Aluminium Institute s global benchmark for bauxite mining last year. Announcing the details Managing Director and CEO ...
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Emirates Global Aluminium (EGA) the largest industrial company in the UAE outside oil and gas has announced that 75 per cent of the construction work on its giant bauxite mining project in the Republic of Guinea in West Africa has been completed. The project has a total budgeted project cost of 1.4 billion and is being developed by EGA s subsidiary Guinea Alumina Corporation (GAC). It is the largest greenfield investment in the West African country in the last four decades. First bauxite exports are expected during the second half of 2019 said a statement from EGA. GAC has recorded almost 9 million man hours of work without a Lost Time Injury (LTI). The total recordable injury frequency rate at GAC for the year to date is 0.8 per million hours worked less than a quarter the International Aluminium Institute s global benchmark for bauxite mining last year. Announcing the details Managing Director and CEO ...
Dubai s non-oil private sector showed a stronger improvement in November with data reflecting faster expansions in business activity and new work and a stable trend in employment said a report. The three main sectors monitored all registered stronger performances with construction seeing the fastest growth said the Emirates NBD Dubai Economy Tracker. The seasonally adjusted Emirates NBD Dubai Economy Tracker Index a composite indicator designed to give an accurate overview of operating conditions in the non-oil private sector economy posted at 55.3 up from October s 31-month low of 52.5 and the highest since June. The latest figure was broadly in line with the long-run trend level since January 2010. The current phase of expansion now extends to 33 months. Construction was the strongest-performing sector in Nove...
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Dubai s non-oil private sector showed a stronger improvement in November with data reflecting faster expansions in business activity and new work and a stable trend in employment said a report. The three main sectors monitored all registered stronger performances with construction seeing the fastest growth said the Emirates NBD Dubai Economy Tracker. The seasonally adjusted Emirates NBD Dubai Economy Tracker Index a composite indicator designed to give an accurate overview of operating conditions in the non-oil private sector economy posted at 55.3 up from October s 31-month low of 52.5 and the highest since June. The latest figure was broadly in line with the long-run trend level since January 2010. The current phase of expansion now extends to 33 months. Construction was the strongest-performing sector in Nove...
Agility one of the world s largest logistics companies said it will invest 100 million over three years to launch Shipa.com a digital logistics platform that lets businesses entrepreneurs and consumers manage their freight e-commerce and urban deliveries online. Agility chairwoman Henadi Al Saleh said: Shipa.com makes life easier through technology whether you are a small business running your supply chain with a few clicks or a consumer getting your shopping delivered with a few taps on your phone. Shipa.com makes logistics convenient jargon-free trackable accountable and accessible she added. Shipa.com s service lines include: Shipa e-commerce gives online merchants access to some of the world s fastest growing and most complex e-commerce markets. Shipa Ecommerce offers integrated freight fulfilment delivery and returns solutions across the Gulf with additional reac...
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Agility one of the world s largest logistics companies said it will invest 100 million over three years to launch Shipa.com a digital logistics platform that lets businesses entrepreneurs and consumers manage their freight e-commerce and urban deliveries online. Agility chairwoman Henadi Al Saleh said: Shipa.com makes life easier through technology whether you are a small business running your supply chain with a few clicks or a consumer getting your shopping delivered with a few taps on your phone. Shipa.com makes logistics convenient jargon-free trackable accountable and accessible she added. Shipa.com s service lines include: Shipa e-commerce gives online merchants access to some of the world s fastest growing and most complex e-commerce markets. Shipa Ecommerce offers integrated freight fulfilment delivery and returns solutions across the Gulf with additional reac...
UAE-based Kibra Investments a technology-driven real estate company has announced the launch of a digital marketplace for buying and selling of commercial property. The marketplace will offer income generating assets such as educational hospitality retail industrial and residential buildings. Kibra is targeting deals in the range of 20 to 50 million making them accessible to large investors and institutions said a senior company official on the sidelines of the recent Wealth Arabia Summit held in Dubai. On the new venture CEO Partho Bhattacharya said: Institutional-grade assets are in very high demand yet many investors are struggling to find deals. Kibra aims to streamline high quality opportunities in one place to provide greater access and transparency for buyers and sellers of commercial property. An expert team will employ rigorous vetting and due diligence for each opportunity which ensure...
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UAE-based Kibra Investments a technology-driven real estate company has announced the launch of a digital marketplace for buying and selling of commercial property. The marketplace will offer income generating assets such as educational hospitality retail industrial and residential buildings. Kibra is targeting deals in the range of 20 to 50 million making them accessible to large investors and institutions said a senior company official on the sidelines of the recent Wealth Arabia Summit held in Dubai. On the new venture CEO Partho Bhattacharya said: Institutional-grade assets are in very high demand yet many investors are struggling to find deals. Kibra aims to streamline high quality opportunities in one place to provide greater access and transparency for buyers and sellers of commercial property. An expert team will employ rigorous vetting and due diligence for each opportunity which ensure...
Alkhabeer Capital a prominent asset management company specialising in alternative investments in Saudi Arabia has announced the successful closing of the initial public offering of its newly-launched Alkhabeer REIT Fund. The Fund was oversubscribed at 104 per cent and raised over SR247 million ( 66 million) from a total of 25 124 individuals and institutional subscribers participating in the IPO. CEO Ahmed Saud Ghouth said: We are delighted at the successful response to our IPO which makes the Alkhabeer REIT Fund another milestone on our journey of continuous success. I would like to express our thanks and appreciation to our clients for their trust and assure them we will strive to achieve the investment objectives of the fund in their best interest and by meeting their expectations he stated. The Saudi asset management firm said more information on the units allocation and the refund ...
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Alkhabeer Capital a prominent asset management company specialising in alternative investments in Saudi Arabia has announced the successful closing of the initial public offering of its newly-launched Alkhabeer REIT Fund. The Fund was oversubscribed at 104 per cent and raised over SR247 million ( 66 million) from a total of 25 124 individuals and institutional subscribers participating in the IPO. CEO Ahmed Saud Ghouth said: We are delighted at the successful response to our IPO which makes the Alkhabeer REIT Fund another milestone on our journey of continuous success. I would like to express our thanks and appreciation to our clients for their trust and assure them we will strive to achieve the investment objectives of the fund in their best interest and by meeting their expectations he stated. The Saudi asset management firm said more information on the units allocation and the refund ...
UAE-based construction group ETHPE Contracting has won a contract from the Ministry of Climate Change and Environment (Moccae) for a landfill rehabilitation project in the northern emirate of Umm Al Qaiwain. A major player in the region ETHPE provides sustainable public works hydraulics and environmental solutions for the construction sector. As per the deal ETHPE Contracting will rehabilitate the landfill serving Umm Al Qaiwain with the scope of work including site preparation dredging and filling said Sultan Alwan Al Habsi the assistant under-secretary for the regions sector at Moccae after signing the deal with Abdul Baqi Talif the chairman of ETHPE Contracting. The project also involves the building of a drying bed for industrial wastewater and a landfill cell for hazardous solid waste he stated at the signing ceremony held in the presence of Dr Thani bin Ahmed Al Zeyoudi Minister of Climate Change and Environment. ...
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UAE-based construction group ETHPE Contracting has won a contract from the Ministry of Climate Change and Environment (Moccae) for a landfill rehabilitation project in the northern emirate of Umm Al Qaiwain. A major player in the region ETHPE provides sustainable public works hydraulics and environmental solutions for the construction sector. As per the deal ETHPE Contracting will rehabilitate the landfill serving Umm Al Qaiwain with the scope of work including site preparation dredging and filling said Sultan Alwan Al Habsi the assistant under-secretary for the regions sector at Moccae after signing the deal with Abdul Baqi Talif the chairman of ETHPE Contracting. The project also involves the building of a drying bed for industrial wastewater and a landfill cell for hazardous solid waste he stated at the signing ceremony held in the presence of Dr Thani bin Ahmed Al Zeyoudi Minister of Climate Change and Environment. ...
Al Madina Logistics Duqm Company a leading Omani logistics services provider and Duqm Port Company recently signed a land investment agreement at the Logistics Complex of Duqm Port in Oman s Al Wusta Governorate said a report. The agreement includes lease and investment of logistics land with future expansions in the logistics complex located near the Port of Duqm where an integrated logistics centre will be established to manage logistics operations in Duqm added the Oman Daily Observer report. The agreement was signed at the headquarters of Sezad in Muscat. The agreement was signed by Mahmood bin Sakhi al Balushi chief executive officer of Al Madina Logistics Duqm; and Reggy Vermeulen chief executive officer of Duqm Port in the presence of a number of board members and the executive team it said. The sig...
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Al Madina Logistics Duqm Company a leading Omani logistics services provider and Duqm Port Company recently signed a land investment agreement at the Logistics Complex of Duqm Port in Oman s Al Wusta Governorate said a report. The agreement includes lease and investment of logistics land with future expansions in the logistics complex located near the Port of Duqm where an integrated logistics centre will be established to manage logistics operations in Duqm added the Oman Daily Observer report. The agreement was signed at the headquarters of Sezad in Muscat. The agreement was signed by Mahmood bin Sakhi al Balushi chief executive officer of Al Madina Logistics Duqm; and Reggy Vermeulen chief executive officer of Duqm Port in the presence of a number of board members and the executive team it said. The sig...
Bahrain s Real Estate Regulatory Authority (Rera) recently hosted a workshop to discuss the key measures which will be introduced over the coming months to regulate the real estate evaluator profession in the kingdom said a report. The workshop held under the theme Foundations for a Sustainable Real Estate Sector provided evaluators with an opportunity to discuss and agree key issues for the sector. Evaluators have a key role to play in building a more sustainable real estate market reported BNA citing a top official of the property watchdog. We will continue to drive forward with the objective of creating an efficient and transparent real estate sector which is attractive to local and international investors remarked Rera CEO Shaikh Mohammed bin Khalifa Al Khalifa. He pointed out that Rera would ensure that Bahrain adopts international best practice by implementing International...
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Bahrain s Real Estate Regulatory Authority (Rera) recently hosted a workshop to discuss the key measures which will be introduced over the coming months to regulate the real estate evaluator profession in the kingdom said a report. The workshop held under the theme Foundations for a Sustainable Real Estate Sector provided evaluators with an opportunity to discuss and agree key issues for the sector. Evaluators have a key role to play in building a more sustainable real estate market reported BNA citing a top official of the property watchdog. We will continue to drive forward with the objective of creating an efficient and transparent real estate sector which is attractive to local and international investors remarked Rera CEO Shaikh Mohammed bin Khalifa Al Khalifa. He pointed out that Rera would ensure that Bahrain adopts international best practice by implementing International...
The first Women in Construction Seminar & Awards was launched today at the Dubai World Trade Centre as part of The Big 5 the Middle East s largest construction event. Organised in association with Mott MacDonald the Seminar addressed the challenges that women face in terms of equal opportunities in construction a traditionally male dominated sector. Anwaar Al Shimmari Chief Innovation Officer at the UAE Ministry of Infrastructure Development Cynthia Corby Audit Partner & Middle East Construction Industry Leader at Deloitte & Touche Middle East Hind Alowais Vice President International Participants at Expo 2020 and Dr Shetha Al Zubaidi CEO Alfahim Avenue Group Companies - Brookson Project Management were among the many high profile speakers at the event. In her opening remarks Josine Heijmans the portfolio director at dmg events said: As we pursue our mission to support and move the building industry forward we...
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The first Women in Construction Seminar & Awards was launched today at the Dubai World Trade Centre as part of The Big 5 the Middle East s largest construction event. Organised in association with Mott MacDonald the Seminar addressed the challenges that women face in terms of equal opportunities in construction a traditionally male dominated sector. Anwaar Al Shimmari Chief Innovation Officer at the UAE Ministry of Infrastructure Development Cynthia Corby Audit Partner & Middle East Construction Industry Leader at Deloitte & Touche Middle East Hind Alowais Vice President International Participants at Expo 2020 and Dr Shetha Al Zubaidi CEO Alfahim Avenue Group Companies - Brookson Project Management were among the many high profile speakers at the event. In her opening remarks Josine Heijmans the portfolio director at dmg events said: As we pursue our mission to support and move the building industry forward we...
Khalifa Industrial Zone Abu Dhabi (Kizad) recently showcased its expanded product offerings available at the Kizad Construction City a dedicated cluster for the manufacture import storage and distribution of construction materials in the UAE. The new offerings were introduced at an event hosted by Kizad during The Big 5 the largest construction and building materials exhibition in the region. The exhibition was held from November 26 to 29 at the Dubai World Trade Centre in Dubai UAE. Following the launch of Kizad Construction City earlier this year the 500 000-sq-m of allotted land available for open yard storage facilities was sold out within six months. Responding to market demand the next phase of Kizad Construction City offers pre-built warehouses and Light Industrial Units (LIUs) which are suitable for manufacturing processing assembling and fabrication work. Additional land has been allocated for open y...
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Khalifa Industrial Zone Abu Dhabi (Kizad) recently showcased its expanded product offerings available at the Kizad Construction City a dedicated cluster for the manufacture import storage and distribution of construction materials in the UAE. The new offerings were introduced at an event hosted by Kizad during The Big 5 the largest construction and building materials exhibition in the region. The exhibition was held from November 26 to 29 at the Dubai World Trade Centre in Dubai UAE. Following the launch of Kizad Construction City earlier this year the 500 000-sq-m of allotted land available for open yard storage facilities was sold out within six months. Responding to market demand the next phase of Kizad Construction City offers pre-built warehouses and Light Industrial Units (LIUs) which are suitable for manufacturing processing assembling and fabrication work. Additional land has been allocated for open y...
Leading industry pioneers from around the world gathered today (November 27) at a high-profile summit in Dubai held as part of The Big 5 construction expo to highlight the growing importance of solar solutions in the urban sector. The Global Solar Leaders Summit was held under the topical theme Solar Solutions for Construction on the sidelines of The Big 5 Solar which concludes on November 29. It brought together industry decision makers and thought leaders to assess the future of solar in the GCC region. The second edition of The Big 5 Solar which opened in Dubai brings solar solutions to construction. Showcasing solar technologies from leading PV manufacturing countries it is a premier event for solar industry professionals to network learn and do business in the Middle East. Etihad Esco CEO Ali Mohammed Al Jassim Masdar Clean Energy Director (Business Development) Yousif Al Ali Dubai Supreme Council of Ener...
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Leading industry pioneers from around the world gathered today (November 27) at a high-profile summit in Dubai held as part of The Big 5 construction expo to highlight the growing importance of solar solutions in the urban sector. The Global Solar Leaders Summit was held under the topical theme Solar Solutions for Construction on the sidelines of The Big 5 Solar which concludes on November 29. It brought together industry decision makers and thought leaders to assess the future of solar in the GCC region. The second edition of The Big 5 Solar which opened in Dubai brings solar solutions to construction. Showcasing solar technologies from leading PV manufacturing countries it is a premier event for solar industry professionals to network learn and do business in the Middle East. Etihad Esco CEO Ali Mohammed Al Jassim Masdar Clean Energy Director (Business Development) Yousif Al Ali Dubai Supreme Council of Ener...
Residential and infrastructure projects are driving the growth of Dubai s construction sector and this trend is expected to gain momentum in the lead up to Expo 2020 according to a new analysis released by Dubai Chamber of Commerce and Industry. The analysis based on recent data from Dubai Statistics Centre and Haver Analytics found that the residential segment accounts for 43 per cent of total projects in the pipeline in Dubai over the 2014-2022 period. According to the findings Dubai s construction sector contributed an estimated 6.3 per cent to the emirate s GDP in 2017 as work on several government-led projects commenced during the year including expansions to public transport and logistics infrastructure in addition to building works for the Expo site in Dubai South. In addition considerable growth in the number of off-plan transactions and real estate investment trusts was observed over the same period. b...
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Residential and infrastructure projects are driving the growth of Dubai s construction sector and this trend is expected to gain momentum in the lead up to Expo 2020 according to a new analysis released by Dubai Chamber of Commerce and Industry. The analysis based on recent data from Dubai Statistics Centre and Haver Analytics found that the residential segment accounts for 43 per cent of total projects in the pipeline in Dubai over the 2014-2022 period. According to the findings Dubai s construction sector contributed an estimated 6.3 per cent to the emirate s GDP in 2017 as work on several government-led projects commenced during the year including expansions to public transport and logistics infrastructure in addition to building works for the Expo site in Dubai South. In addition considerable growth in the number of off-plan transactions and real estate investment trusts was observed over the same period. b...
The construction costs across Saudi Arabia surged by 1.9 per cent during the third quarter compared to the same period last year mainly driven by key industry issues linked to workload and labour said a report by Canadian real estate expert Colliers International. The procedures implemented by Saudi Arabia to carry out nationalisation in various sectors as well as taxes imposed on expatriates have contributed to raising labour s costs in the nation stated Colliers in its report. The Canadian company further pointed out that over the last one year the project pricing has been very aggressive on the back of competition for work. As for profit margins of contractors the Canadian real estate expert said it did not expect a growth in the near future until the real estate firms fill their order books. It will take significantly more projects to commence to have a real impact on increasing margins that...
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The construction costs across Saudi Arabia surged by 1.9 per cent during the third quarter compared to the same period last year mainly driven by key industry issues linked to workload and labour said a report by Canadian real estate expert Colliers International. The procedures implemented by Saudi Arabia to carry out nationalisation in various sectors as well as taxes imposed on expatriates have contributed to raising labour s costs in the nation stated Colliers in its report. The Canadian company further pointed out that over the last one year the project pricing has been very aggressive on the back of competition for work. As for profit margins of contractors the Canadian real estate expert said it did not expect a growth in the near future until the real estate firms fill their order books. It will take significantly more projects to commence to have a real impact on increasing margins that...
GEFCO Group a European leader in automotive logistics and Saudi Arabia s Almajdouie Logistics (MLC) have announced the formation of a 50-50 joint venture in automotive logistics. The relationship between the two powerhouse companies began in January 2018 when they partnered to provide finished vehicle logistics services to Almajdouie Auto (MMC) the importer of Hyundai in Saudi Arabia. In its second phase the joint venture plans to offer a full range of finished vehicle services to the Saudi Arabian market and will officially launch operations in the first half of 2019. We are very pleased to announce a 50-50 JV agreement with Almajdouie Logistics commented Luc Nadal CEO of GEFCO Group. The new JV will benefit from MLC s strong position in the market and GEFCO s experience in providing smart and flexible supply chain solutions to customers around the world. With 69 years of...
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GEFCO Group a European leader in automotive logistics and Saudi Arabia s Almajdouie Logistics (MLC) have announced the formation of a 50-50 joint venture in automotive logistics. The relationship between the two powerhouse companies began in January 2018 when they partnered to provide finished vehicle logistics services to Almajdouie Auto (MMC) the importer of Hyundai in Saudi Arabia. In its second phase the joint venture plans to offer a full range of finished vehicle services to the Saudi Arabian market and will officially launch operations in the first half of 2019. We are very pleased to announce a 50-50 JV agreement with Almajdouie Logistics commented Luc Nadal CEO of GEFCO Group. The new JV will benefit from MLC s strong position in the market and GEFCO s experience in providing smart and flexible supply chain solutions to customers around the world. With 69 years of...
Kuwait in a major move has banned all companies and architectural firms that designed and implemented housing infrastructure and road projects damaged by recent heavy rainfall pending an investigation reported Arab Times. The decision was taken at the cabinet meeting which was chaired by HH Prime Minister Sheikh Jaber Al Mubarak Al Sabah it stated. As per the new directive all these companies and architectural firms who are under probe would not be allowed to take part in any new projects without getting their names cleared from investigating agencies. Minister of Public Works and Minister of State for Municipal Affairs Hussam Al Roumi briefed the cabinet about an investigation being carried out by a fact-finding commission with individuals and companies into causes of floods. ...
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Kuwait in a major move has banned all companies and architectural firms that designed and implemented housing infrastructure and road projects damaged by recent heavy rainfall pending an investigation reported Arab Times. The decision was taken at the cabinet meeting which was chaired by HH Prime Minister Sheikh Jaber Al Mubarak Al Sabah it stated. As per the new directive all these companies and architectural firms who are under probe would not be allowed to take part in any new projects without getting their names cleared from investigating agencies. Minister of Public Works and Minister of State for Municipal Affairs Hussam Al Roumi briefed the cabinet about an investigation being carried out by a fact-finding commission with individuals and companies into causes of floods. ...
ASGC one of the leading construction groups in the UAE said it has become the first company from the Middle East region to pick up a coveted global innovation award at the Project Controls Expo 2018 in London. The award is in recognition for the company s work in developing digital-first project controls to support the UAE Vision 2021 particularly the mandate for sustainable development and infrastructure said a statement from the company. The judges commended the advanced widespread usage of cutting-edge systems such as building information modelling (BIM) and 4D mapping to enhance productivity fast-track project delivery and uphold international quality standards. Global attention turned to the UAE s construction industry this week as adoption of the newest digital technologies and applications continues to accelerate said a company spokesman. The work done by ASGC was honoured in a particularly comp...
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ASGC one of the leading construction groups in the UAE said it has become the first company from the Middle East region to pick up a coveted global innovation award at the Project Controls Expo 2018 in London. The award is in recognition for the company s work in developing digital-first project controls to support the UAE Vision 2021 particularly the mandate for sustainable development and infrastructure said a statement from the company. The judges commended the advanced widespread usage of cutting-edge systems such as building information modelling (BIM) and 4D mapping to enhance productivity fast-track project delivery and uphold international quality standards. Global attention turned to the UAE s construction industry this week as adoption of the newest digital technologies and applications continues to accelerate said a company spokesman. The work done by ASGC was honoured in a particularly comp...
Dubai-based Shipa Freight a leading online freight platform was named Logistics Technology Platform of the Year at the first Transport and Logistics Middle East Awards in Dubai UAE. The award presented by Transport & Logistics Middle East recognised the platform that offers the best solutions through use of cutting-edge technologies such as automation smart freight forwarding and data analytics to increase speed efficiency and safety while lowering costs in operations and systems said a statement from the company. Shipa Freight launched in April is the first fully integrated online freight platform that allows users to get rate quotes and book pay and track ocean and air shipments around the world online it said. The company allows users especially small and medium-sized businesses to manage international shipments with a simple easy-to-use tool accessible by computer tablet and mobile app it added. br...
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Dubai-based Shipa Freight a leading online freight platform was named Logistics Technology Platform of the Year at the first Transport and Logistics Middle East Awards in Dubai UAE. The award presented by Transport & Logistics Middle East recognised the platform that offers the best solutions through use of cutting-edge technologies such as automation smart freight forwarding and data analytics to increase speed efficiency and safety while lowering costs in operations and systems said a statement from the company. Shipa Freight launched in April is the first fully integrated online freight platform that allows users to get rate quotes and book pay and track ocean and air shipments around the world online it said. The company allows users especially small and medium-sized businesses to manage international shipments with a simple easy-to-use tool accessible by computer tablet and mobile app it added. br...
Gulf Pinnacle Logistics (GPL) an emerging UAE-based logistics powerhouse has heavily invested in the rebranding of its newly acquired company Century Express a Dubai-based courier service provider. Shailesh Dash chairman of Gulf Pinnacle Logistics said: We are delighted to announce that Century Express has been completely revamped with a new brighter logo a more modern and interactive website a rebranded fleet a larger warehouse and office space and in the process of launching a customer-friendly mobile App. GPL has been focused on improving the strategic financial and branding position of Century Express. We have invested in the infrastructure and foundation that will guarantee a brighter future for the company he said. Dash continued: These positive branding and service initiatives have helped win new clients and expand our share of wallet with existing customers. We have secured co...
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Gulf Pinnacle Logistics (GPL) an emerging UAE-based logistics powerhouse has heavily invested in the rebranding of its newly acquired company Century Express a Dubai-based courier service provider. Shailesh Dash chairman of Gulf Pinnacle Logistics said: We are delighted to announce that Century Express has been completely revamped with a new brighter logo a more modern and interactive website a rebranded fleet a larger warehouse and office space and in the process of launching a customer-friendly mobile App. GPL has been focused on improving the strategic financial and branding position of Century Express. We have invested in the infrastructure and foundation that will guarantee a brighter future for the company he said. Dash continued: These positive branding and service initiatives have helped win new clients and expand our share of wallet with existing customers. We have secured co...
Azizi Developments one of the leading private developers in the UAE said work was moving at a steady pace on its its Dh470-million ( 128 million) project Azizi Aliyah Residences coming up in the Dubai Healthcare City. Unveiling the project update Azizi said construction is almost complete with the conclusion of the mobilisation and structure phases while MEP works and finishes are well underway. The internal and external structure painting works are progressing rapidly it stated. Azizi Aliyah Residences will offer a total of 346 fully serviced residences with 191 studios 135 one-bedroom apartments and 20 two-bedroom apartments along with upscale retail space of 16 000 sq. ft within DHCC. The Healthcare City is home to academic institution the Mohammed Bin Rashid University of Medicine and Health Sciences part of the Mohammed Bin Rashid Academic Medical Center and close to 160 clinical partners including hospita...
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Azizi Developments one of the leading private developers in the UAE said work was moving at a steady pace on its its Dh470-million ( 128 million) project Azizi Aliyah Residences coming up in the Dubai Healthcare City. Unveiling the project update Azizi said construction is almost complete with the conclusion of the mobilisation and structure phases while MEP works and finishes are well underway. The internal and external structure painting works are progressing rapidly it stated. Azizi Aliyah Residences will offer a total of 346 fully serviced residences with 191 studios 135 one-bedroom apartments and 20 two-bedroom apartments along with upscale retail space of 16 000 sq. ft within DHCC. The Healthcare City is home to academic institution the Mohammed Bin Rashid University of Medicine and Health Sciences part of the Mohammed Bin Rashid Academic Medical Center and close to 160 clinical partners including hospita...
Emirates NBD Asset Management said its shari a-compliant real estate investment trust has secured a 75 million Murabaha finance facility from Standard Chartered Bank for a term of three years with an accordion option to upsize the facility to 100 million. ENBD REIT said the new facility will help support the REIT s focus on portfolio diversification through further acquisitions to maximise income returns and mitigate risk. The shari a compliant facility is in two tranches - Tranche A of 45 million and Tranche B of 30 million. The Tranch A will help partially repay ENBD REIT s existing debt following oversight approval thereby delivering a material benefit to the REIT s finance cost while Tranche B will be available to support potential acquisitions and will increase LTV to 42 per cent. The facility has a bullet payment at maturity said a statement from ENBD. Utilisation of Tranche A ...
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Emirates NBD Asset Management said its shari a-compliant real estate investment trust has secured a 75 million Murabaha finance facility from Standard Chartered Bank for a term of three years with an accordion option to upsize the facility to 100 million. ENBD REIT said the new facility will help support the REIT s focus on portfolio diversification through further acquisitions to maximise income returns and mitigate risk. The shari a compliant facility is in two tranches - Tranche A of 45 million and Tranche B of 30 million. The Tranch A will help partially repay ENBD REIT s existing debt following oversight approval thereby delivering a material benefit to the REIT s finance cost while Tranche B will be available to support potential acquisitions and will increase LTV to 42 per cent. The facility has a bullet payment at maturity said a statement from ENBD. Utilisation of Tranche A ...
LogiPoint a leading logistics business and the largest Bonded and Re-Export Zone in Saudi Arabia recently won Logistics Zones Operator of the Year 2018 award in a ceremony organised by Transport and Logistics Middle East. LogiPoint is a subsidiary of Saudi Industrial Services Co (Sisco) - a Saudi Joint Stock company listed on Tadawul. The annual awards acknowledge the companies for their remarkable performance and innovation within the regional logistics supply chain said a statement. The Transport and Logistics Middle East has provided the perfect platform to exchange ideas showcase the recent technological innovations look for suitable collaborations and highlight business prospects it said. The award is the appreciation of LogiPoint s outstanding record of collaboration and partnership with its stakeholders and of providing the clients with a maximum ease of doing business via ...
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LogiPoint a leading logistics business and the largest Bonded and Re-Export Zone in Saudi Arabia recently won Logistics Zones Operator of the Year 2018 award in a ceremony organised by Transport and Logistics Middle East. LogiPoint is a subsidiary of Saudi Industrial Services Co (Sisco) - a Saudi Joint Stock company listed on Tadawul. The annual awards acknowledge the companies for their remarkable performance and innovation within the regional logistics supply chain said a statement. The Transport and Logistics Middle East has provided the perfect platform to exchange ideas showcase the recent technological innovations look for suitable collaborations and highlight business prospects it said. The award is the appreciation of LogiPoint s outstanding record of collaboration and partnership with its stakeholders and of providing the clients with a maximum ease of doing business via ...
The Middle East and Africa s (MEA) hotel sector is booming with a total of 1 066 properties in the pipeline as of October accounting for 266 602 rooms according to new data. Of the total about 423 hotels (127 177 rooms) are under construction in the Middle East - up 27.4 per cent compared to October 2017 while 139 hotels (25 983 rooms) are under construction in the African region - a decline of 2.3 per cent compared to the same month last year the October Pipeline Report from STR Global showed. The UAE topped the MEA list for the largest number of rooms under construction with the total put at 54 371 rooms which is 33.5 per cent of the existing supply. Two other markets reported more than 10 000 rooms under construction: Saudi Arabia (48 224 rooms) and Qatar (11 503 rooms). The report also highlighted projects in the final planning and planning stages. A total of 31 464 rooms in 127 hotels were registered in th...
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The Middle East and Africa s (MEA) hotel sector is booming with a total of 1 066 properties in the pipeline as of October accounting for 266 602 rooms according to new data. Of the total about 423 hotels (127 177 rooms) are under construction in the Middle East - up 27.4 per cent compared to October 2017 while 139 hotels (25 983 rooms) are under construction in the African region - a decline of 2.3 per cent compared to the same month last year the October Pipeline Report from STR Global showed. The UAE topped the MEA list for the largest number of rooms under construction with the total put at 54 371 rooms which is 33.5 per cent of the existing supply. Two other markets reported more than 10 000 rooms under construction: Saudi Arabia (48 224 rooms) and Qatar (11 503 rooms). The report also highlighted projects in the final planning and planning stages. A total of 31 464 rooms in 127 hotels were registered in th...
Octal a leading PET sheet producer and leading integrated packaging company participated and debated the challenges within the logistics industry at the recently concluded IRU World Congress 2018 which was held in Oman. IRU World Congress is a global event for road transport mobility and logistics held in Oman and the Middle East for the first time. William J Barenberg Jr executive vice president and chief revenue officer manufacturing and supply chain at Octal highlighted the importance of nurturing competitiveness in the marketplace generally and the logistics sector specifically to create sustainable value for end-users and consumers while integrating this value within end-to-end supply chains. The event saw the participation of close to 1 000 delegates featuring leading figures in road transport and trade to network discuss and debate innovate solutions to the industry s most pressing issues. Speaking d...
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Octal a leading PET sheet producer and leading integrated packaging company participated and debated the challenges within the logistics industry at the recently concluded IRU World Congress 2018 which was held in Oman. IRU World Congress is a global event for road transport mobility and logistics held in Oman and the Middle East for the first time. William J Barenberg Jr executive vice president and chief revenue officer manufacturing and supply chain at Octal highlighted the importance of nurturing competitiveness in the marketplace generally and the logistics sector specifically to create sustainable value for end-users and consumers while integrating this value within end-to-end supply chains. The event saw the participation of close to 1 000 delegates featuring leading figures in road transport and trade to network discuss and debate innovate solutions to the industry s most pressing issues. Speaking d...
The Dubai Land Department (DLD) said it has opened a real estate promotion office in New York US in partnership with Aqari Global Century 21 as part of its efforts to promote investment opportunities in Dubai s burgeoning real estate market. Sultan Butti bin Mejren the director-general of DLD and Majida Ali Rashid the chief executive of the Real Estate Promotion and Investment Management Sector at DLD jointly inaugurated the new office in the presence of Majid Al Suwaidi Consul-General of the UAE in New York. Several leading real estate professionals and industry leaders including agents real estate brokers and fund managers attended the opening ceremony. Speaking at the launch Bin Mejren said: The new office will contribute to promoting investment opportunities in Dubai s real estate market in light of the emirate s unique advantage over other markets in addition to the high returns on...
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The Dubai Land Department (DLD) said it has opened a real estate promotion office in New York US in partnership with Aqari Global Century 21 as part of its efforts to promote investment opportunities in Dubai s burgeoning real estate market. Sultan Butti bin Mejren the director-general of DLD and Majida Ali Rashid the chief executive of the Real Estate Promotion and Investment Management Sector at DLD jointly inaugurated the new office in the presence of Majid Al Suwaidi Consul-General of the UAE in New York. Several leading real estate professionals and industry leaders including agents real estate brokers and fund managers attended the opening ceremony. Speaking at the launch Bin Mejren said: The new office will contribute to promoting investment opportunities in Dubai s real estate market in light of the emirate s unique advantage over other markets in addition to the high returns on...
Arcapita a global leader in Shari ah-compliant alternative investments has acquired a seven-property industrial real estate portfolio in Cleveland Ohio US. The Cleveland portfolio comprises 655 000 sq ft of high-quality industrial assets within the metropolitan area and is occupied by a diverse range of creditworthy tenants operating in the logistics technology and assembly space. Arcapita has partnered with Weston an Ohio-based real estate owner-operator with a strong history in Cleveland and the wider Mid-west. Weston will maintain a joint-venture investment in the portfolio and will serve as the leasing and managing agent. The acquisition is part of Arcapita s broader US industrial real estate strategy targeting quality assets within the last mile and light industrial sub-sectors with locations in close proximity to major population centers that enjoy ...
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Arcapita a global leader in Shari ah-compliant alternative investments has acquired a seven-property industrial real estate portfolio in Cleveland Ohio US. The Cleveland portfolio comprises 655 000 sq ft of high-quality industrial assets within the metropolitan area and is occupied by a diverse range of creditworthy tenants operating in the logistics technology and assembly space. Arcapita has partnered with Weston an Ohio-based real estate owner-operator with a strong history in Cleveland and the wider Mid-west. Weston will maintain a joint-venture investment in the portfolio and will serve as the leasing and managing agent. The acquisition is part of Arcapita s broader US industrial real estate strategy targeting quality assets within the last mile and light industrial sub-sectors with locations in close proximity to major population centers that enjoy ...
Sharjah s property market witnessed solid growth in the first nine months with the real estate transactions surging to Dh14.6 billion ( 3.9 billion) during the period thus reaffirming the emirate s attractiveness and ability to compete with global investment destinations. The booming sector is witnessing a thorough and incessant growth and expansion based on an advanced infrastructure and powerful legislation that boost investment and trade movement in the Smiley emirate said a statement from Sharjah Real Estate Registration Directorate (SRED). As per the latest real estate transactions report of the Directorate a total of 2 415 real estate deals were inked during the period covering 40 million sq ft of land in 171 different areas while the mortgages transactions amounted to Dh8.8 billion it stated. A total of 40 028 real estate transactions had been recorded across the emirate till September 30 up 6 pe...
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Sharjah s property market witnessed solid growth in the first nine months with the real estate transactions surging to Dh14.6 billion ( 3.9 billion) during the period thus reaffirming the emirate s attractiveness and ability to compete with global investment destinations. The booming sector is witnessing a thorough and incessant growth and expansion based on an advanced infrastructure and powerful legislation that boost investment and trade movement in the Smiley emirate said a statement from Sharjah Real Estate Registration Directorate (SRED). As per the latest real estate transactions report of the Directorate a total of 2 415 real estate deals were inked during the period covering 40 million sq ft of land in 171 different areas while the mortgages transactions amounted to Dh8.8 billion it stated. A total of 40 028 real estate transactions had been recorded across the emirate till September 30 up 6 pe...
Aldar Properties a leading property developer in Abu Dhabi UAE has signed up Al Rakha Contracting & General Transport LLC to complete the infrastructure buildings and early works package for the first neighbourhood in the Phase Two of its Dh10-billion ( 2.72 billion) project Alghadeer located close to the border of Abu Dhabi and Dubai. A mega development Alghadeer offers an unparalleled opportunity to benefit from living between the cities Abu Dhabi and Dubai with easy access to the UAE s arterial highways and close proximity to the Dubai Expo 2020 site which is located in the Dubai South district near Dubai World Central Airport. The destination is designed for people who want a healthy sustainable and smart way of living while still enjoying convenient access to the city said the Abu Dhabi developer. As per the Dh335-million ( 91 million) deal Al Rakha Contracting & General Transport will construct 707 maison...
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Aldar Properties a leading property developer in Abu Dhabi UAE has signed up Al Rakha Contracting & General Transport LLC to complete the infrastructure buildings and early works package for the first neighbourhood in the Phase Two of its Dh10-billion ( 2.72 billion) project Alghadeer located close to the border of Abu Dhabi and Dubai. A mega development Alghadeer offers an unparalleled opportunity to benefit from living between the cities Abu Dhabi and Dubai with easy access to the UAE s arterial highways and close proximity to the Dubai Expo 2020 site which is located in the Dubai South district near Dubai World Central Airport. The destination is designed for people who want a healthy sustainable and smart way of living while still enjoying convenient access to the city said the Abu Dhabi developer. As per the Dh335-million ( 91 million) deal Al Rakha Contracting & General Transport will construct 707 maison...
US-based Turvo the world s first real-time collaborative logistics platform has closed 60 million in Series B funding led by Mubadala Ventures the San Francisco-based venture capital arm of Mubadala Investment Company. Turvo also added new investors G2VP and Next47 the Siemens-backed global venture firm. These funds bring the total investment in the company to nearly 100 million solidifying Turvo as the new standard in end-to-end visibility and collaboration for the logistics and supply chain industry said a statement from the company. Turvo is revolutionising logistics with a ground-breaking IoT software platform that creates the Internet of Shipping connecting people businesses applications and devices in one AI-driven solution. Turvo empowers everyone across the supply chain ecosystem to seamlessly share communicate and collaborate in real-time to make smarter faster more informed decisions. ...
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US-based Turvo the world s first real-time collaborative logistics platform has closed 60 million in Series B funding led by Mubadala Ventures the San Francisco-based venture capital arm of Mubadala Investment Company. Turvo also added new investors G2VP and Next47 the Siemens-backed global venture firm. These funds bring the total investment in the company to nearly 100 million solidifying Turvo as the new standard in end-to-end visibility and collaboration for the logistics and supply chain industry said a statement from the company. Turvo is revolutionising logistics with a ground-breaking IoT software platform that creates the Internet of Shipping connecting people businesses applications and devices in one AI-driven solution. Turvo empowers everyone across the supply chain ecosystem to seamlessly share communicate and collaborate in real-time to make smarter faster more informed decisions. ...
Alkhabeer Capital a Saudi-based asset manager specialised in alternative investments has launched the initial public offering of its shari ah compliant Alkhabeer REIT (real estate investment trust) fund of SR1 billion ( 266.4 million). The IPO size of SR237 million ( 63.1 million) equates to 24 per cent of total fund assets said a statement from Headquartered in Jeddah and with a branch the company. Subscription in Alkhabeer REIT units is scheduled to continue until November 29 it stated. The Saudi firm invited prospective subscribers to apply through the following institutions: Aljazira Capital National Commercial Bank Riyad Bank Al Rajhi Bank Arab National Bank and Saudi Fransi Bank. Alkhabeer Capital CEO Ahmed Saud Ghouth said: The target returns of over 9 per cent every year distributed quarterly are among the...
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Alkhabeer Capital a Saudi-based asset manager specialised in alternative investments has launched the initial public offering of its shari ah compliant Alkhabeer REIT (real estate investment trust) fund of SR1 billion ( 266.4 million). The IPO size of SR237 million ( 63.1 million) equates to 24 per cent of total fund assets said a statement from Headquartered in Jeddah and with a branch the company. Subscription in Alkhabeer REIT units is scheduled to continue until November 29 it stated. The Saudi firm invited prospective subscribers to apply through the following institutions: Aljazira Capital National Commercial Bank Riyad Bank Al Rajhi Bank Arab National Bank and Saudi Fransi Bank. Alkhabeer Capital CEO Ahmed Saud Ghouth said: The target returns of over 9 per cent every year distributed quarterly are among the...
Orascom Construction a leading global engineering and construction contractor said it has added 520 million of new awards to its backlog in the third quarter. Egypt accounted for approximately 60 per cent of new awards while the US represented the balance. Consolidated backlog as of September 30 2018 stood at 4.1 billion said a statement from the company. New awards in Egypt were mainly across the infrastructure and wastewater treatment sectors as the Group strengthened its leadership position in these market segments. In the US the group maintained the improved level of new awards achieved in the second quarter and signed new projects across the private-sector commercial and light industrial sectors. Besix added 380 million of new projects in Q3 2018 bringing its total new awards to 1.9 billion and backlog to 3.2 billion as of the end of the third quarter. A major player in the re...
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Orascom Construction a leading global engineering and construction contractor said it has added 520 million of new awards to its backlog in the third quarter. Egypt accounted for approximately 60 per cent of new awards while the US represented the balance. Consolidated backlog as of September 30 2018 stood at 4.1 billion said a statement from the company. New awards in Egypt were mainly across the infrastructure and wastewater treatment sectors as the Group strengthened its leadership position in these market segments. In the US the group maintained the improved level of new awards achieved in the second quarter and signed new projects across the private-sector commercial and light industrial sectors. Besix added 380 million of new projects in Q3 2018 bringing its total new awards to 1.9 billion and backlog to 3.2 billion as of the end of the third quarter. A major player in the re...
Global exhibitions company dmg events has appointed Chris Kilbee as the senior vice president to lead its growing global construction portfolio. For the last five years Kilbee has been based in Amsterdam with UBM where as group director he led the growth and development of the company s global pharmaceutical portfolio said a statement from dmg events. His responsibilities included the P&L performance of a large global events portfolio and the development and execution of a global strategy to drive performance across all brands. His tenure in Amsterdam included new launches in North America Turkey the UAE South Korea and in a number of adjacent vertical markets it stated. Prior to his time in Amsterdam Kilbee was based in London as managing director of UBM Built Environment s business which included media brands in the real estate architecture and construction markets. His wid...
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Global exhibitions company dmg events has appointed Chris Kilbee as the senior vice president to lead its growing global construction portfolio. For the last five years Kilbee has been based in Amsterdam with UBM where as group director he led the growth and development of the company s global pharmaceutical portfolio said a statement from dmg events. His responsibilities included the P&L performance of a large global events portfolio and the development and execution of a global strategy to drive performance across all brands. His tenure in Amsterdam included new launches in North America Turkey the UAE South Korea and in a number of adjacent vertical markets it stated. Prior to his time in Amsterdam Kilbee was based in London as managing director of UBM Built Environment s business which included media brands in the real estate architecture and construction markets. His wid...
Abu Dhabi City Municipality (ADM) and Emirates Global Aluminium Company (EGA) have signed an agreement under which EGA will construct a sports stadium at Al Samha a media report said. The memorandum of understanding (MoU) was signed by Saif Bader Al Qubaisi general manager of Abu Dhabi City Municipality and Dr Ali Al Zarouni deputy executive director of Production Technology Development and Transfer at EGA reported state news agency Wam . The initiative is intended to bring happiness to community members provide a better living experience promote the values of social responsibility and contribute to the overall sustainable development seen by Abu Dhabi. This agreement epitomises the commitment of the Department of Urban Planning and Municipalities - Abu Dhabi City Municipality to foster partnerships and cooperation with key institutions Al Qubaisi said. It also comes in the context of activating the va...
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Abu Dhabi City Municipality (ADM) and Emirates Global Aluminium Company (EGA) have signed an agreement under which EGA will construct a sports stadium at Al Samha a media report said. The memorandum of understanding (MoU) was signed by Saif Bader Al Qubaisi general manager of Abu Dhabi City Municipality and Dr Ali Al Zarouni deputy executive director of Production Technology Development and Transfer at EGA reported state news agency Wam . The initiative is intended to bring happiness to community members provide a better living experience promote the values of social responsibility and contribute to the overall sustainable development seen by Abu Dhabi. This agreement epitomises the commitment of the Department of Urban Planning and Municipalities - Abu Dhabi City Municipality to foster partnerships and cooperation with key institutions Al Qubaisi said. It also comes in the context of activating the va...
Economic reforms along with the possibility of the introduction of a property-linked permanent residency could boost the real estate sector in the UAE and Abu Dhabi said organisers of the International Real Estate Investment Show (IREIS) that opened in Abu Dhabi today (November 1). Inaugurated by Khalifa Al Mansouri Under Secretary of Department of Economic Development Abu Dhabi Antoine Georges managing director of event organiser Dome Exhibitions and Humaid Matar Al Dhaheri Group chief executive officer of Abu Dhabi National Exhibition Centre the 10th Edition of IREIS runs until November 3 at the Abu Dhabi National Exhibition Centre (Adnec). The UAE government s economic reforms and the new investment programme including the Dh50 billion stimulus package announced by Abu Dhabi Government is expected to help boost economic growth and job creation will also help the real estate sector said Georges. Due ...
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Economic reforms along with the possibility of the introduction of a property-linked permanent residency could boost the real estate sector in the UAE and Abu Dhabi said organisers of the International Real Estate Investment Show (IREIS) that opened in Abu Dhabi today (November 1). Inaugurated by Khalifa Al Mansouri Under Secretary of Department of Economic Development Abu Dhabi Antoine Georges managing director of event organiser Dome Exhibitions and Humaid Matar Al Dhaheri Group chief executive officer of Abu Dhabi National Exhibition Centre the 10th Edition of IREIS runs until November 3 at the Abu Dhabi National Exhibition Centre (Adnec). The UAE government s economic reforms and the new investment programme including the Dh50 billion stimulus package announced by Abu Dhabi Government is expected to help boost economic growth and job creation will also help the real estate sector said Georges. Due ...
Dubai tops the list of the world s megacities for construction projects with the total value of projects in pipeline amounting to 374.2 billion according to GlobalData a leading data and analytics company. A total of 6 645 planned and ongoing construction projects by the world s megacities are valued at 4.2 trillion it said. In the second place is London with 328.7 billion projects and Moscow is in third with 191.5 billion. However the Asia-Pacific region dominates the list accounting for 25 of the 50 cities and having a combined projects pipeline valued at 1.7 trillion. The projects are fuelled by the increase in population and are sparking interest in residential and infrastructural developments it said. The United Nations predicts that between 2016 and 2030 the percentage of the world s population living in citi...
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Dubai tops the list of the world s megacities for construction projects with the total value of projects in pipeline amounting to 374.2 billion according to GlobalData a leading data and analytics company. A total of 6 645 planned and ongoing construction projects by the world s megacities are valued at 4.2 trillion it said. In the second place is London with 328.7 billion projects and Moscow is in third with 191.5 billion. However the Asia-Pacific region dominates the list accounting for 25 of the 50 cities and having a combined projects pipeline valued at 1.7 trillion. The projects are fuelled by the increase in population and are sparking interest in residential and infrastructural developments it said. The United Nations predicts that between 2016 and 2030 the percentage of the world s population living in citi...
The latest developments in the field of Artificial Intelligence (AI) applications in the construction sector will be highlighted at the upcoming International Conference for Sustainable Construction Materials in Dubai UAE. The sixth edition of the annual event running on November 6 and 7 at Conrad Hotel is an initiative headed by Dubai Municipality s Central Laboratory. The conference and workshops feature the latest innovations and trends in design and construction that will shape the future in the Gulf region and beyond. The event brings together government decision-makers international researchers and private sector professionals in related fields. The objective is to learn from each other and to open up new channels of dialogue between stakeholders. Participants will receive a Certificate of Attendance issued by event partner ASTM International. TradeArabia News Service ...
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The latest developments in the field of Artificial Intelligence (AI) applications in the construction sector will be highlighted at the upcoming International Conference for Sustainable Construction Materials in Dubai UAE. The sixth edition of the annual event running on November 6 and 7 at Conrad Hotel is an initiative headed by Dubai Municipality s Central Laboratory. The conference and workshops feature the latest innovations and trends in design and construction that will shape the future in the Gulf region and beyond. The event brings together government decision-makers international researchers and private sector professionals in related fields. The objective is to learn from each other and to open up new channels of dialogue between stakeholders. Participants will receive a Certificate of Attendance issued by event partner ASTM International. TradeArabia News Service ...
UAE President His Highness Sheikh Khalifa bin Zayed Al Nahyan has issued a Federal Decree on real estate properties of the Federal Government the provisions of which apply to all the federal properties in and outside of the country. HH Sheikh Hamdan bin Rashid Al Maktoum Deputy Ruler of Dubai and Minister of Finance stressed the leadership s efforts to strengthen the legal structure and improve the nation s legislative system. This decree contributes to the establishment of a legal framework and clear provisions that regulate the real estate property of the Federal Government and / or any right over these properties. Sheikh Hamdan said: The Ministry of Finance is committed to guaranteeing and preserving federal property especially since the law stipulates that no Federal Government entity may act in any of the federal properties withou...
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UAE President His Highness Sheikh Khalifa bin Zayed Al Nahyan has issued a Federal Decree on real estate properties of the Federal Government the provisions of which apply to all the federal properties in and outside of the country. HH Sheikh Hamdan bin Rashid Al Maktoum Deputy Ruler of Dubai and Minister of Finance stressed the leadership s efforts to strengthen the legal structure and improve the nation s legislative system. This decree contributes to the establishment of a legal framework and clear provisions that regulate the real estate property of the Federal Government and / or any right over these properties. Sheikh Hamdan said: The Ministry of Finance is committed to guaranteeing and preserving federal property especially since the law stipulates that no Federal Government entity may act in any of the federal properties withou...
Oman has announced its intention to join TIR a global customs transit system for moving goods across international borders. The pending ratification of the global standard for customs transit is now poised to transform the country s road transport intermodal and trade potential bringing it ever closer to becoming a major global logistics hub said a statement. With a view to achieving the Oman Logistics Strategy next steps after ratification are to implement TIR in order to improve the country s soft infrastructure support mechanisms and institutions to facilitate trade. Oman s strategic location suggests huge potential for trade acceleration. Adopting the global standard also sends a strong signal to investors increasing their confidence in transit and trade opportunities in Oman. Umberto de Pretto secretary general of IRU said: With the IRU World Congress in Muscat taking place next wee...
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Oman has announced its intention to join TIR a global customs transit system for moving goods across international borders. The pending ratification of the global standard for customs transit is now poised to transform the country s road transport intermodal and trade potential bringing it ever closer to becoming a major global logistics hub said a statement. With a view to achieving the Oman Logistics Strategy next steps after ratification are to implement TIR in order to improve the country s soft infrastructure support mechanisms and institutions to facilitate trade. Oman s strategic location suggests huge potential for trade acceleration. Adopting the global standard also sends a strong signal to investors increasing their confidence in transit and trade opportunities in Oman. Umberto de Pretto secretary general of IRU said: With the IRU World Congress in Muscat taking place next wee...
Leading experts in the air cargo industry will participate in the third edition of the Air Cargo Thought Leadership Summit by Kale Logistics Solutions - Clear View 2018 - which will take place in Bangkok Thailand on November 22 and 23. Clear View is a pioneering interactive platform of 25-30 CXOs which in the last two years and has had encouraging participation from IATA leading airlines cargo handlers industry associations regulators and prominent industry consultants from North America Europe Africa and Asia said a statement. The Clear View summit provides stakeholders to discuss industry issues in a round table format and this year the sessions will revolve around: air cargo handling infrastructure regulatory and industry initiatives e-commerce and air cargo handling and new markets and new horizons for air cargo. Clear View debuted in February 2016 in Dubai UAE. Last year the second edition of this event at Athens Gr...
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Leading experts in the air cargo industry will participate in the third edition of the Air Cargo Thought Leadership Summit by Kale Logistics Solutions - Clear View 2018 - which will take place in Bangkok Thailand on November 22 and 23. Clear View is a pioneering interactive platform of 25-30 CXOs which in the last two years and has had encouraging participation from IATA leading airlines cargo handlers industry associations regulators and prominent industry consultants from North America Europe Africa and Asia said a statement. The Clear View summit provides stakeholders to discuss industry issues in a round table format and this year the sessions will revolve around: air cargo handling infrastructure regulatory and industry initiatives e-commerce and air cargo handling and new markets and new horizons for air cargo. Clear View debuted in February 2016 in Dubai UAE. Last year the second edition of this event at Athens Gr...
The Saudi construction sector is booming with over 5 200 construction projects currently rolling out in the region s largest and most populous country said a report released ahead of a major industry event in the kingdom. The Big 5 Saudi the kingdom s premier construction event will run from March 10 to 13 at the Jeddah Centre for Forums and Events hosting more than 400 local and international exhibitors across dedicated product zones. Valued at 819 billion these account for 35 per cent of the total value of active projects across the GCC stated the report by BNC Network. Despite recent challenges faced by the sector attributed to low oil prices and a reported shortage of qualified workers construction is recording a 4.1 per cent increase this year in Saudi Arabia it stated. A recent BMI research forecasts the sector s annualised average growth at 6.13 per cent from 2018 to 2022. Roni El...
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The Saudi construction sector is booming with over 5 200 construction projects currently rolling out in the region s largest and most populous country said a report released ahead of a major industry event in the kingdom. The Big 5 Saudi the kingdom s premier construction event will run from March 10 to 13 at the Jeddah Centre for Forums and Events hosting more than 400 local and international exhibitors across dedicated product zones. Valued at 819 billion these account for 35 per cent of the total value of active projects across the GCC stated the report by BNC Network. Despite recent challenges faced by the sector attributed to low oil prices and a reported shortage of qualified workers construction is recording a 4.1 per cent increase this year in Saudi Arabia it stated. A recent BMI research forecasts the sector s annualised average growth at 6.13 per cent from 2018 to 2022. Roni El...
Damac Properties a leading UAE-based luxury project developer said it has awarded contract worth Dh299 million ( 81.3 million) for the construction of 478 luxury villas within its Akoya Oxygen a master community development in Dubai. The contract was secured by a wholly-owned subsidiary of Arabtec a leading engineering and construction group based in the UAE. As per the deal Arabtec Construction is expected to start the work on the villas immediately with completion within the next 16 months said the statement from Arabtec. Group CEO Hamish Tyrwhitt said: We are delighted that Damac continues to show confidence in Arabtec Construction through the award of our third project at the Akoya Oxygen master development further building on our longstanding relationship. Akoya Oxygen is a 55-million-sq-ft master development showcasing the greenest living spaces in Dubai and is home to an 18-hole championship gol...
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Damac Properties a leading UAE-based luxury project developer said it has awarded contract worth Dh299 million ( 81.3 million) for the construction of 478 luxury villas within its Akoya Oxygen a master community development in Dubai. The contract was secured by a wholly-owned subsidiary of Arabtec a leading engineering and construction group based in the UAE. As per the deal Arabtec Construction is expected to start the work on the villas immediately with completion within the next 16 months said the statement from Arabtec. Group CEO Hamish Tyrwhitt said: We are delighted that Damac continues to show confidence in Arabtec Construction through the award of our third project at the Akoya Oxygen master development further building on our longstanding relationship. Akoya Oxygen is a 55-million-sq-ft master development showcasing the greenest living spaces in Dubai and is home to an 18-hole championship gol...
Saudi Arabia-based Bahri a global leader in logistics and transportation said it supported the recent Supply Chain and Logistics Conference as a Diamond Sponsor . The event was held under the patronage of Saudi Arabia s Minister of Transportation Dr Nabil bin Mohammed Al Amoudi in Riyadh Saudi Arabia. Al Amoudi presented a commemorative plaque to Bahri which was received on behalf of the CEO of the company by Ahmed Al-Ghaith President of Bahri Logistics said a statement. The event brought together industry experts and top executives from major local and international companies involved in the supply chain and logistics sector to discuss the opportunities and challenges facing the industry it said. Abdullah Aldubaikhi chief executive officer Bahri said: Our sponsorship of the conference demonstrates our unwavering commitment to playing a key role in the development and growth of the mar...
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Saudi Arabia-based Bahri a global leader in logistics and transportation said it supported the recent Supply Chain and Logistics Conference as a Diamond Sponsor . The event was held under the patronage of Saudi Arabia s Minister of Transportation Dr Nabil bin Mohammed Al Amoudi in Riyadh Saudi Arabia. Al Amoudi presented a commemorative plaque to Bahri which was received on behalf of the CEO of the company by Ahmed Al-Ghaith President of Bahri Logistics said a statement. The event brought together industry experts and top executives from major local and international companies involved in the supply chain and logistics sector to discuss the opportunities and challenges facing the industry it said. Abdullah Aldubaikhi chief executive officer Bahri said: Our sponsorship of the conference demonstrates our unwavering commitment to playing a key role in the development and growth of the mar...
FedEx Express a subsidiary of FedEx Corp and the world s largest express transportation company has won top honours in the category Express Logistics Provider of the Year at the 2018 Logistics and Transport Awards. FedEx was recognised for its well-established global network service efficiency exceptional customer care and integration of technology within its broad portfolio of transportation e-commerce and business services said a statement. FedEx invented express distribution with now more than four decades of global experience and a Middle East presence of almost 30 years. With a fleet of 670 planes FedEx provides access to 220 countries and territories connecting markets that comprise more than 90 per cent of the world s gross domestic product (GDP). This year FedEx celebrated the 20th anniversary of its Dubai hub located at Dubai International Airport s Terminal 2 which serve...
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FedEx Express a subsidiary of FedEx Corp and the world s largest express transportation company has won top honours in the category Express Logistics Provider of the Year at the 2018 Logistics and Transport Awards. FedEx was recognised for its well-established global network service efficiency exceptional customer care and integration of technology within its broad portfolio of transportation e-commerce and business services said a statement. FedEx invented express distribution with now more than four decades of global experience and a Middle East presence of almost 30 years. With a fleet of 670 planes FedEx provides access to 220 countries and territories connecting markets that comprise more than 90 per cent of the world s gross domestic product (GDP). This year FedEx celebrated the 20th anniversary of its Dubai hub located at Dubai International Airport s Terminal 2 which serve...
GAC Group a global provider of integrated shipping logistics and marine services said it has won the Transportation & Logistics title in the Middle East and Indian Subcontinent s premier shipping and maritime awards event The Maritime Standard Awards 2018. The award recognises GAC s commitment to meeting customers needs for efficient and cost-effective support with a range of innovative transportation and logistics services said a statement. It also applauds the group s forward-looking application of technology to boost performance and the expansion of its operations throughout the region it said. Fredrik Nyström GAC Group vice president for the Middle East said: This award is testament to our role as an industry leader our passionate teams around the Middle East and Indian Subcontinent who work hard to deliver world-class solutions to a global client base and our foc...
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GAC Group a global provider of integrated shipping logistics and marine services said it has won the Transportation & Logistics title in the Middle East and Indian Subcontinent s premier shipping and maritime awards event The Maritime Standard Awards 2018. The award recognises GAC s commitment to meeting customers needs for efficient and cost-effective support with a range of innovative transportation and logistics services said a statement. It also applauds the group s forward-looking application of technology to boost performance and the expansion of its operations throughout the region it said. Fredrik Nyström GAC Group vice president for the Middle East said: This award is testament to our role as an industry leader our passionate teams around the Middle East and Indian Subcontinent who work hard to deliver world-class solutions to a global client base and our foc...
The Dubai Land Department (DLD) said it signed an agreement with Telecommunications Regulatory Authority (TRA) to regulate real estate advertisements by setting an operational framework in the control departments thus reducing misleading real estate advertisements. The MoU was signed on the sidelines of the Gitex Technology Week in Dubai. DLD through the Real Estate Regulatory Authority (Rera) regularly issues official circulars addressed to all real estate companies and institutions operating in Dubai. Through these memos Rera had called upon all real estate companies and institutions keen on advertising any property located within and outside the emirate to apply for a permit through Trakheesi system on DLD s website. Sultan Butti bin Mejren the director-general of DLD said through this tieup it forward to unifying and regulating the advertisement procedure for real estate companies and their use of text m...
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The Dubai Land Department (DLD) said it signed an agreement with Telecommunications Regulatory Authority (TRA) to regulate real estate advertisements by setting an operational framework in the control departments thus reducing misleading real estate advertisements. The MoU was signed on the sidelines of the Gitex Technology Week in Dubai. DLD through the Real Estate Regulatory Authority (Rera) regularly issues official circulars addressed to all real estate companies and institutions operating in Dubai. Through these memos Rera had called upon all real estate companies and institutions keen on advertising any property located within and outside the emirate to apply for a permit through Trakheesi system on DLD s website. Sultan Butti bin Mejren the director-general of DLD said through this tieup it forward to unifying and regulating the advertisement procedure for real estate companies and their use of text m...
Oman has completed the construction of a major flood protection dam in Sur region of the South Al Sharqiyah Governorate said a report. Fitted with floodgates capable of pumping 900 cu m/per second water the dam has a large reservoir with a storage capacity of around 22 million cu m reported Oman Observer. Measuring 1.1 km in length and 34 m in height the dam s main body is built of earth stones and concrete. Strategically located just upstream of the Sur urban area the dam will serve as an inceptor in the event of heavy flooding along Wadi Rafsah it added. ...
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Oman has completed the construction of a major flood protection dam in Sur region of the South Al Sharqiyah Governorate said a report. Fitted with floodgates capable of pumping 900 cu m/per second water the dam has a large reservoir with a storage capacity of around 22 million cu m reported Oman Observer. Measuring 1.1 km in length and 34 m in height the dam s main body is built of earth stones and concrete. Strategically located just upstream of the Sur urban area the dam will serve as an inceptor in the event of heavy flooding along Wadi Rafsah it added. ...
The role played by the supply and logistics sector in Saudi Arabia has gained increasing importance in both scope and value said Saudi Aramco s senior vice president of operations and business services Muhammad M Saggaf during a recent event. Saudi Aramco participated in the 2nd Supply Chain and Logistics Conference organised by the Ministry of Transport in Riyadh. Saggaf delivered a keynote speech at the two-day conference Saudi Arabia s most comprehensive event of its kind to underscore the importance of creating a logistics hub in the kingdom. Addressing the conference audience in a keynote speech Saggaf said: The sector now represents about 4.3 trillion of the world s economy. It impacts other industrial commercial and service sectors and has adopted many new advanced technologies. The kingdom enjoys several competitive advantages including its prime geographic loc...
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The role played by the supply and logistics sector in Saudi Arabia has gained increasing importance in both scope and value said Saudi Aramco s senior vice president of operations and business services Muhammad M Saggaf during a recent event. Saudi Aramco participated in the 2nd Supply Chain and Logistics Conference organised by the Ministry of Transport in Riyadh. Saggaf delivered a keynote speech at the two-day conference Saudi Arabia s most comprehensive event of its kind to underscore the importance of creating a logistics hub in the kingdom. Addressing the conference audience in a keynote speech Saggaf said: The sector now represents about 4.3 trillion of the world s economy. It impacts other industrial commercial and service sectors and has adopted many new advanced technologies. The kingdom enjoys several competitive advantages including its prime geographic loc...
Abu Dhabi s construction cost index (CCI) increased by 3.2 per cent during the second quarter compared with the same period in 2017 according to figures released by Statistics Centre - Abu Dhabi (Scad). The index rose from 96.1 per cent last year to 99.1 per cent in the second quarter of this year it stated. The CCI is an important statistical indicator for the purposes of planning and research in various disciplines. Statistics centers and agencies in different countries consistently compile these indices based on the prices of a group of building materials and construction services commonly used during the construction process. The figures thus calculated constitute a time series that provides a measure of changes in the cost of construction over time. Scad compiles the CCI according to the ten main groups of the construction cost index basket with a base year of 2013. The index increased...
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Abu Dhabi s construction cost index (CCI) increased by 3.2 per cent during the second quarter compared with the same period in 2017 according to figures released by Statistics Centre - Abu Dhabi (Scad). The index rose from 96.1 per cent last year to 99.1 per cent in the second quarter of this year it stated. The CCI is an important statistical indicator for the purposes of planning and research in various disciplines. Statistics centers and agencies in different countries consistently compile these indices based on the prices of a group of building materials and construction services commonly used during the construction process. The figures thus calculated constitute a time series that provides a measure of changes in the cost of construction over time. Scad compiles the CCI according to the ten main groups of the construction cost index basket with a base year of 2013. The index increased...
Orpic Logistics Company the fuel logistics arm of Oman Oil Refineries and Petroleum Industries Company (Orpic) is considering to establish strategic fuel reserves for the country said a report. The ambitious move is set to take fuel logistics to a new level in the sultanate effectively elevating Oman into the ranks of nations that have in place strategic stockpiles to secure their domestic requirements in the event of any emergencies or contingencies added the Oman Daily Observer report. Andrés Suarez general manager Orpic Logistics Company said that the company is continuing to explore options to increase the capacity of the Al Jifnain Terminal (the nerve centre of the company s fuel logistics infrastructure) especially to explore opportunities to dedicate tankage towards strategic reserves for the country. br...
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Orpic Logistics Company the fuel logistics arm of Oman Oil Refineries and Petroleum Industries Company (Orpic) is considering to establish strategic fuel reserves for the country said a report. The ambitious move is set to take fuel logistics to a new level in the sultanate effectively elevating Oman into the ranks of nations that have in place strategic stockpiles to secure their domestic requirements in the event of any emergencies or contingencies added the Oman Daily Observer report. Andrés Suarez general manager Orpic Logistics Company said that the company is continuing to explore options to increase the capacity of the Al Jifnain Terminal (the nerve centre of the company s fuel logistics infrastructure) especially to explore opportunities to dedicate tankage towards strategic reserves for the country. br...
Dubai s real estate market recorded 39 802 transactions worth Dh162 billion ( 44 billion) from the start of the year till the end of September reflecting growth driven by optimism among investors and developers a media report said. The first nine months of 2018 recorded 25 473 sales transactions worth more than Dh56.6 billion about 11 000 mortgage transactions worth over Dh86 billion and 3 486 other transactions valued at Dh 19.3 billion reported Emirates news agency Wam citing a report issued by DLD s Department of Real Estates Studies & Research. Sultan Butti bin Mejren director general of DLD said: The positive results of these decisions are evident in the prevalent confidence among the various relevant parties in the market. These positive repercussions will continue to resonate in the short and long terms by introducing new sales categories for either personal use or for investing. During...
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Dubai s real estate market recorded 39 802 transactions worth Dh162 billion ( 44 billion) from the start of the year till the end of September reflecting growth driven by optimism among investors and developers a media report said. The first nine months of 2018 recorded 25 473 sales transactions worth more than Dh56.6 billion about 11 000 mortgage transactions worth over Dh86 billion and 3 486 other transactions valued at Dh 19.3 billion reported Emirates news agency Wam citing a report issued by DLD s Department of Real Estates Studies & Research. Sultan Butti bin Mejren director general of DLD said: The positive results of these decisions are evident in the prevalent confidence among the various relevant parties in the market. These positive repercussions will continue to resonate in the short and long terms by introducing new sales categories for either personal use or for investing. During...
Nearly 50 global consultants specialists and experts in the property sector discussed issues related to public-private partnerships (PPPs) in the real estate sector at a key industry event in Dubai. The two-day Global Consultations on PPPs in Land Administration seminar was jointly organised by Dubai Land Department (DLD) and World Bank. It was aimed at gathering critical insights from the government on the challenges to implementing PPPs in land administration besides understanding the commercial appetite of the private sector and their expectations and perceptions of risk and review and provide feedback on preliminary tools developed to facilitate PPPs in land administration. Sultan Butti bin Mejren the director-general of DLD said the event would contribute to the exchange of knowledge between different international experiences in PPPs in the real estate sector through the participation of international consultants an...
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Nearly 50 global consultants specialists and experts in the property sector discussed issues related to public-private partnerships (PPPs) in the real estate sector at a key industry event in Dubai. The two-day Global Consultations on PPPs in Land Administration seminar was jointly organised by Dubai Land Department (DLD) and World Bank. It was aimed at gathering critical insights from the government on the challenges to implementing PPPs in land administration besides understanding the commercial appetite of the private sector and their expectations and perceptions of risk and review and provide feedback on preliminary tools developed to facilitate PPPs in land administration. Sultan Butti bin Mejren the director-general of DLD said the event would contribute to the exchange of knowledge between different international experiences in PPPs in the real estate sector through the participation of international consultants an...
The Abu Dhabi property market has seen prices fall on average for both apartments and villas with significant changes in property prices for a few areas in the emirate in the third quarter from the second quarter 2018 a report said. The most significant change was for one-bed apartments in Khalifa City A where average prices fell by 12.73 per cent from Dh55 000 to Dh48 000 followed by a 9.38 per cent decrease for studios from Dh32 000 ( 8 712) to Dh29 000 ( 7 895) said Bayut s Q3 market report for Abu Dhabi. The report is based on prices advertised by real estate agencies on behalf of their clients on Bayut.com and not representative of actual real estate transactions conducted in Abu Dhabi it said. One-bed apartments in Mohammed Bin Zayed (MBZ) City also saw a 9.09 per cent decrease from Dh44 000 to Dh40 000. The only substantial increase has been 9.09 per cent for one...
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The Abu Dhabi property market has seen prices fall on average for both apartments and villas with significant changes in property prices for a few areas in the emirate in the third quarter from the second quarter 2018 a report said. The most significant change was for one-bed apartments in Khalifa City A where average prices fell by 12.73 per cent from Dh55 000 to Dh48 000 followed by a 9.38 per cent decrease for studios from Dh32 000 ( 8 712) to Dh29 000 ( 7 895) said Bayut s Q3 market report for Abu Dhabi. The report is based on prices advertised by real estate agencies on behalf of their clients on Bayut.com and not representative of actual real estate transactions conducted in Abu Dhabi it said. One-bed apartments in Mohammed Bin Zayed (MBZ) City also saw a 9.09 per cent decrease from Dh44 000 to Dh40 000. The only substantial increase has been 9.09 per cent for one...
Lootah Real Estate Development one of the region s prominent modern real estate developers today broke ground on its upcoming residential building The Edge . The project will the latest addition to the properties owned and developed by the company in Dubai Investment Park. The ground-breaking ceremony was held at the construction site in the Ewan Residences development and was attended by Lootah Real Estate Development s top management officials key stakeholders and partners. Set for delivery in the first quarter of 2020 The Edge will feature a striking G 5 Rooftop residential building comprising of 103 units of elegantly designed studio one-bedroom and two-bedroom apartments ranging from areas of 144 854 sq ft. Located at Ewan Residences development in the heart of Dubai Investment Park res...
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Lootah Real Estate Development one of the region s prominent modern real estate developers today broke ground on its upcoming residential building The Edge . The project will the latest addition to the properties owned and developed by the company in Dubai Investment Park. The ground-breaking ceremony was held at the construction site in the Ewan Residences development and was attended by Lootah Real Estate Development s top management officials key stakeholders and partners. Set for delivery in the first quarter of 2020 The Edge will feature a striking G 5 Rooftop residential building comprising of 103 units of elegantly designed studio one-bedroom and two-bedroom apartments ranging from areas of 144 854 sq ft. Located at Ewan Residences development in the heart of Dubai Investment Park res...
Bahri Logistics a unit of global leader in logistics and transportation - Bahri recently showcased its industry-leading maritime transportation capabilities and innovation-driven logistics solutions at Breakbulk Americas 2018 which was held in the US. The event a leading exhibition for the project cargo and breakbulk industry in the Americas took place from October 2 to 4 in Houston Texas. The three-day expo attracted a number of visitors and exhibitors including specialised ocean carriers freight forwarders ports and terminals logistics providers export packers and road rail barge and air transportation companies among many others said a statement from the organisers. The exhibition is considered a strategic meeting point for executives from leading engineering procurement and construction (EPC) oil and gas and petrochemicals project owners and top industrial manufacturers. Ahmed Al-Ghaith presiden...
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Bahri Logistics a unit of global leader in logistics and transportation - Bahri recently showcased its industry-leading maritime transportation capabilities and innovation-driven logistics solutions at Breakbulk Americas 2018 which was held in the US. The event a leading exhibition for the project cargo and breakbulk industry in the Americas took place from October 2 to 4 in Houston Texas. The three-day expo attracted a number of visitors and exhibitors including specialised ocean carriers freight forwarders ports and terminals logistics providers export packers and road rail barge and air transportation companies among many others said a statement from the organisers. The exhibition is considered a strategic meeting point for executives from leading engineering procurement and construction (EPC) oil and gas and petrochemicals project owners and top industrial manufacturers. Ahmed Al-Ghaith presiden...
The 17th edition of Cityscape Global officially opened its doors today (October 2) welcoming local and international real estate organisations and professional who have gathered in Dubai for the three-day exhibition which runs until Thursday 4 October at Dubai world Trade Centre. With up to 300 exhibitors competing for attention international developers from Egypt and Malta supported by government agencies are vying for UAE investors by offering sound prospects and the option to earn citizenship for their respective country. UAE Egypt and Malta are among the countries featured at this year s exclusive Cityscape Business Hub and Hosted Investors Programme which aims to boost the relationship between investors both local and international and developers government authorities from around the world and real estate professionals to drive investment. Billed for discussion at the Business Hub is the panel...
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The 17th edition of Cityscape Global officially opened its doors today (October 2) welcoming local and international real estate organisations and professional who have gathered in Dubai for the three-day exhibition which runs until Thursday 4 October at Dubai world Trade Centre. With up to 300 exhibitors competing for attention international developers from Egypt and Malta supported by government agencies are vying for UAE investors by offering sound prospects and the option to earn citizenship for their respective country. UAE Egypt and Malta are among the countries featured at this year s exclusive Cityscape Business Hub and Hosted Investors Programme which aims to boost the relationship between investors both local and international and developers government authorities from around the world and real estate professionals to drive investment. Billed for discussion at the Business Hub is the panel...
Dubai s real estate market has been consistently sustainable attracting nearly 9 500 new investors who made a total investment of more than Dh19 billion ( 5.17 billion) during the period from January 1 to August 31 2018 said a top official of Dubai Land Department (DLD). DLD is the strategic partner of the 17th edition of Cityscape Global taking place from October 2 to 4. Through its delegates the department will welcome visitors and investors to answer their queries helping them make investment decisions and take advantage of the attractive offers that developers will be offering during the event. Dubai s real estate market acquired a sustainable reputation due to a range of innovative initiatives and proactive solutions that have made it the world s most attractive investment destination with the most advanced solutions applications and smart services that ensures the ability of customers to conclude transactions easily tra...
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Dubai s real estate market has been consistently sustainable attracting nearly 9 500 new investors who made a total investment of more than Dh19 billion ( 5.17 billion) during the period from January 1 to August 31 2018 said a top official of Dubai Land Department (DLD). DLD is the strategic partner of the 17th edition of Cityscape Global taking place from October 2 to 4. Through its delegates the department will welcome visitors and investors to answer their queries helping them make investment decisions and take advantage of the attractive offers that developers will be offering during the event. Dubai s real estate market acquired a sustainable reputation due to a range of innovative initiatives and proactive solutions that have made it the world s most attractive investment destination with the most advanced solutions applications and smart services that ensures the ability of customers to conclude transactions easily tra...
Gulf Warehousing Company (GWC) a leading logistics provider in Qatar today (September 30) welcomed a delegation from US Embassy in Qatar at the Logistics Village Qatar (LVQ). The visit included a tour of the landmark integrated logistics hub offering bespoke supply chain logistics and warehousing solutions spanning 1-million square meter infrastructure; the largest logistics hub of its kind in the region said a statement from the company. The tour offered the attendees insights into how Logistics infrastructure such as the LVQ act as a Supply Chain enabler for investment opportunities considered by businesses from the US and elsewhere in Qatar as well as situating Qatar as a potential hub from which US businesses may reach the globe. The delegation included many high-ranking officials from the US Embassy including Charge d Affaires a.i. William Grant. Fifteen km off the Hamad Port 18 km from Hamad Internati...
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Gulf Warehousing Company (GWC) a leading logistics provider in Qatar today (September 30) welcomed a delegation from US Embassy in Qatar at the Logistics Village Qatar (LVQ). The visit included a tour of the landmark integrated logistics hub offering bespoke supply chain logistics and warehousing solutions spanning 1-million square meter infrastructure; the largest logistics hub of its kind in the region said a statement from the company. The tour offered the attendees insights into how Logistics infrastructure such as the LVQ act as a Supply Chain enabler for investment opportunities considered by businesses from the US and elsewhere in Qatar as well as situating Qatar as a potential hub from which US businesses may reach the globe. The delegation included many high-ranking officials from the US Embassy including Charge d Affaires a.i. William Grant. Fifteen km off the Hamad Port 18 km from Hamad Internati...
Disruptive technologies such as Robotics Artificial Intelligence (AI) and the Internet of Things (IoT) will all play a crucial role in the region s construction industry in the coming years compelling many companies to re-evaluate their investments as well as their employee numbers said leading experts. Adopting disruptive technologies will lead to greater operational efficiencies for construction companies and could result in greater reduction in labor costs and time to delivery for them they stated at the first Construction Technology Forum being held in Dubai. Organised by Ventures Connect the two-day event saw professionals discuss the concepts and application of new technologies designed to disrupt the region s existing construction landscape. It provided insights on how adopting technology could reduce operational costs boost productivity and enhance overall quality across all elements of the industry supply-chain...
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Disruptive technologies such as Robotics Artificial Intelligence (AI) and the Internet of Things (IoT) will all play a crucial role in the region s construction industry in the coming years compelling many companies to re-evaluate their investments as well as their employee numbers said leading experts. Adopting disruptive technologies will lead to greater operational efficiencies for construction companies and could result in greater reduction in labor costs and time to delivery for them they stated at the first Construction Technology Forum being held in Dubai. Organised by Ventures Connect the two-day event saw professionals discuss the concepts and application of new technologies designed to disrupt the region s existing construction landscape. It provided insights on how adopting technology could reduce operational costs boost productivity and enhance overall quality across all elements of the industry supply-chain...
Top real estate experts - Sean McCauley and Richard Aybar - have joined forces to set up Devmark an innovative consultancy in Dubai that aims to revolutionise how developers plan and launch their strategies and properties across the region. Devmark was created with the core aim of driving developer s bottom line and optimising return on investment said the veterans of the real estate industry who had careers panning some of Dubai s largest brands. We founded Devmark to deliver against client full value chains from project conceptualization to the final sales process providing intelligent strategic and results-driven solutions fused with deep expertise stated McCauley the company s chief executive. After many years in the business here we had long since noticed a gap in the market and with over 40 years of collective experience in the real estate industry we felt that together we could b...
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Top real estate experts - Sean McCauley and Richard Aybar - have joined forces to set up Devmark an innovative consultancy in Dubai that aims to revolutionise how developers plan and launch their strategies and properties across the region. Devmark was created with the core aim of driving developer s bottom line and optimising return on investment said the veterans of the real estate industry who had careers panning some of Dubai s largest brands. We founded Devmark to deliver against client full value chains from project conceptualization to the final sales process providing intelligent strategic and results-driven solutions fused with deep expertise stated McCauley the company s chief executive. After many years in the business here we had long since noticed a gap in the market and with over 40 years of collective experience in the real estate industry we felt that together we could b...
Today s customers are digitally connected engaged and influenced. The phenomenon of the e-commerce industry has grown beyond comprehension in terms of volume scale markets and countries. With shopping online and at retail stores at the same time becoming a reality coupled with devices connecting every aspect of consumers lives the shift is making way for the tidal wave of industry transition in the Middle East. This has given a push to the e-commerce markets a 246.15 per cent increase in worldwide ecommerce sales from 1.3 trillion in 2014 to 4.5 trillion in 2021. That s a nearly threefold lift in online revenue. To embrace the customer and provide a seamless delivery experience on-demand ecommerce and logistics players are going mobile to ride high on the technology wave. In a quest to provide superior customer experience the companies are incurring huge operational cost. The cost of la...
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Today s customers are digitally connected engaged and influenced. The phenomenon of the e-commerce industry has grown beyond comprehension in terms of volume scale markets and countries. With shopping online and at retail stores at the same time becoming a reality coupled with devices connecting every aspect of consumers lives the shift is making way for the tidal wave of industry transition in the Middle East. This has given a push to the e-commerce markets a 246.15 per cent increase in worldwide ecommerce sales from 1.3 trillion in 2014 to 4.5 trillion in 2021. That s a nearly threefold lift in online revenue. To embrace the customer and provide a seamless delivery experience on-demand ecommerce and logistics players are going mobile to ride high on the technology wave. In a quest to provide superior customer experience the companies are incurring huge operational cost. The cost of la...
In a major move Dr Sheikh Sultan bin Mohammed Al Qasimi Supreme Council Member and Ruler of Sharjah has announced key steps to regulate the real estate brokerage profession in the emirate reported state news agency Wam. Dr Sheikh Sultan today (September 23) issued Decree-Law to repeal Law No. 01 of 1981 on the intermediaries (Brokers) stated the report. Pursuant to the new Decree-Law No. 02 of 2018 the Sharjah Executive Council (SEC) is mandated to issue a resolution to regulate the real estate brokerage profession in the emirate as well as the fees and the administrative penalties in accordance with the relevant provisions. The Sharjah Consultative Council shall be notified of this Decree - Law immediately after its convening said the Wam report. The decree shall be effective from the date of its issuance and other competent authorities should implement its provisions each in its respective field ...
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In a major move Dr Sheikh Sultan bin Mohammed Al Qasimi Supreme Council Member and Ruler of Sharjah has announced key steps to regulate the real estate brokerage profession in the emirate reported state news agency Wam. Dr Sheikh Sultan today (September 23) issued Decree-Law to repeal Law No. 01 of 1981 on the intermediaries (Brokers) stated the report. Pursuant to the new Decree-Law No. 02 of 2018 the Sharjah Executive Council (SEC) is mandated to issue a resolution to regulate the real estate brokerage profession in the emirate as well as the fees and the administrative penalties in accordance with the relevant provisions. The Sharjah Consultative Council shall be notified of this Decree - Law immediately after its convening said the Wam report. The decree shall be effective from the date of its issuance and other competent authorities should implement its provisions each in its respective field ...
UAE-based Reem Investments has won approval from the Securities and Commodities Authority (SCA) for its registeration as a company engaged in the real estate business under local private joint stock companies (PJSC). The SCA has also agreed to have it subsequently listed on the Abu Dhabi Securities Exchange s Secondary Market. Established in 2005 Reem Investments has become one of the largest and most successful real estate companies in Abu Dhabi with a paid-up capital of Dh1.55 billion ( 420 million). The company which has the financal backing of prominent UAE-based institutions and private investors owns prime development land in the UAE capital. Reem Investments was earlier in talks with UAE s Eshraq Properties for a merger that would have created a mega-listed real estate company in Abu Dhabi. However the two failed to reach agreement on commercial matters relating to the deal and the m...
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UAE-based Reem Investments has won approval from the Securities and Commodities Authority (SCA) for its registeration as a company engaged in the real estate business under local private joint stock companies (PJSC). The SCA has also agreed to have it subsequently listed on the Abu Dhabi Securities Exchange s Secondary Market. Established in 2005 Reem Investments has become one of the largest and most successful real estate companies in Abu Dhabi with a paid-up capital of Dh1.55 billion ( 420 million). The company which has the financal backing of prominent UAE-based institutions and private investors owns prime development land in the UAE capital. Reem Investments was earlier in talks with UAE s Eshraq Properties for a merger that would have created a mega-listed real estate company in Abu Dhabi. However the two failed to reach agreement on commercial matters relating to the deal and the m...
Bahrain-based Arabian Gulf University (AGU) has invited bids from leading companies for the construction of a multi-million dollar medical city in the kingdom. The giant medical city project is being funded through a SR1 billion ( 267 million) grant from the late Saudi King Abdullah bin Abdulaziz Al Saud and will be built on a one-million-sq-m plot donated by His Majesty King Hamad near Khalifa City at Durrat Al Bahrain. The Medical City will be a multiple phased mixed-use development comprising a new academic and medical facilities research centre on-site accommodation and other communal facilities to create a self-sustained campus stated Tahpi an international specialist in health facility planning and architecture. In the first phase the project will see the development of a 264-bed hospital supported by on-site staff housing and other communal facilities in addition to 15 operating rooms and quality support medical services such...
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Bahrain-based Arabian Gulf University (AGU) has invited bids from leading companies for the construction of a multi-million dollar medical city in the kingdom. The giant medical city project is being funded through a SR1 billion ( 267 million) grant from the late Saudi King Abdullah bin Abdulaziz Al Saud and will be built on a one-million-sq-m plot donated by His Majesty King Hamad near Khalifa City at Durrat Al Bahrain. The Medical City will be a multiple phased mixed-use development comprising a new academic and medical facilities research centre on-site accommodation and other communal facilities to create a self-sustained campus stated Tahpi an international specialist in health facility planning and architecture. In the first phase the project will see the development of a 264-bed hospital supported by on-site staff housing and other communal facilities in addition to 15 operating rooms and quality support medical services such...
Dubai Land Department (DLD) said that its service centres across Dubai have served more than 39 000 investors after helping them complete their investments with a total value of Dh131 billion ( 35.6 billion) from January to August. In the latest report issued by DLD the number of transactions provided in service centres during the period mentioned amounted to 42 000 distributed between 24 000 transactions for the transfer of ownership and 18 000 that provided excellent services to investors. Sultan Butti bin Mejren director general of Dubai Land Department commented: The demand for service centres is evident due to the completed transactions of more than 39 000 investors valued at more than Dh131 billion. This confirms the success of this project which aims primarily to provide the department s services throughout Dubai to achieve the strategic vision of the Dubai Plan 2021 which aims to position the Emirate as the best global destin...
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Dubai Land Department (DLD) said that its service centres across Dubai have served more than 39 000 investors after helping them complete their investments with a total value of Dh131 billion ( 35.6 billion) from January to August. In the latest report issued by DLD the number of transactions provided in service centres during the period mentioned amounted to 42 000 distributed between 24 000 transactions for the transfer of ownership and 18 000 that provided excellent services to investors. Sultan Butti bin Mejren director general of Dubai Land Department commented: The demand for service centres is evident due to the completed transactions of more than 39 000 investors valued at more than Dh131 billion. This confirms the success of this project which aims primarily to provide the department s services throughout Dubai to achieve the strategic vision of the Dubai Plan 2021 which aims to position the Emirate as the best global destin...
Saudi Arabia will auction real estate owned by indebted billionaire Maan Al-Sanea and his company starting next month to help repay billions of riyals due to creditors Reuters news agency said quoting sources familiar with the matter. Al-Sanea ranked by Forbes in 2007 as one of the world s 100 richest people was detained last year for unpaid debts dating back to 2009 when his company Saad Group defaulted. His case is separate from the scores of Saudi businessmen and prominent figures who were held on corruption charges last year at Riyadh s Ritz Carlton hotel the report said. Etqaan Alliance the consortium appointed late last year by a three-judge tribunal to resolve Saad&rs...
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Saudi Arabia will auction real estate owned by indebted billionaire Maan Al-Sanea and his company starting next month to help repay billions of riyals due to creditors Reuters news agency said quoting sources familiar with the matter. Al-Sanea ranked by Forbes in 2007 as one of the world s 100 richest people was detained last year for unpaid debts dating back to 2009 when his company Saad Group defaulted. His case is separate from the scores of Saudi businessmen and prominent figures who were held on corruption charges last year at Riyadh s Ritz Carlton hotel the report said. Etqaan Alliance the consortium appointed late last year by a three-judge tribunal to resolve Saad&rs...
The Dubai Land Department (DLD) in co-ordination with the Real Estate Regulatory Agency (Rera) has issued nearly 500 000 real estate permits to several companies through the Trakheesi system said a report. Trakheesi also allows brokerage offices and brokers working in the emirate to complete their transactions through the DLD s official website serving all parts of the Real Estate Licensing Department reported state news agency Wam. One of the key benefits of Trakheesi is the speed in completing documents related to broker cards where the time required for completion is now five minutes instead of two business days. These services include cards for brokers and residents as well as cards for real estate management companies to achieve excellence and quality in the delivery of services ensuring customer satisfaction and happiness. /di...
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The Dubai Land Department (DLD) in co-ordination with the Real Estate Regulatory Agency (Rera) has issued nearly 500 000 real estate permits to several companies through the Trakheesi system said a report. Trakheesi also allows brokerage offices and brokers working in the emirate to complete their transactions through the DLD s official website serving all parts of the Real Estate Licensing Department reported state news agency Wam. One of the key benefits of Trakheesi is the speed in completing documents related to broker cards where the time required for completion is now five minutes instead of two business days. These services include cards for brokers and residents as well as cards for real estate management companies to achieve excellence and quality in the delivery of services ensuring customer satisfaction and happiness. /di...
The Ajman Department of Economic Development (Ajman DED) has signed a strategic cooperative agreement each with TAD Logistics Company and Al Shamali International Freight Services (Sifco). Under the terms of the agreements the two companies will assist DED-Ajman in facilitating the transfer and storage of seized damaged and counterfeit items reported state news agency Wam . The new partnership demonstrates DED-Ajman s continued commitment towards establishing key cooperatives with the private sector in order to provide comprehensive and integrated services it stated. The agreement was signed by Abdullah bin Nasser Al Nuaimi Assistant Director-General for Economic Registration and Control DED-Ajman Rajesh Kotichi General Manager TAD Logistics and Nasser Koti General Manager Sifco in a ceremony held at the DED-Ajman headquarters. &nb...
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The Ajman Department of Economic Development (Ajman DED) has signed a strategic cooperative agreement each with TAD Logistics Company and Al Shamali International Freight Services (Sifco). Under the terms of the agreements the two companies will assist DED-Ajman in facilitating the transfer and storage of seized damaged and counterfeit items reported state news agency Wam . The new partnership demonstrates DED-Ajman s continued commitment towards establishing key cooperatives with the private sector in order to provide comprehensive and integrated services it stated. The agreement was signed by Abdullah bin Nasser Al Nuaimi Assistant Director-General for Economic Registration and Control DED-Ajman Rajesh Kotichi General Manager TAD Logistics and Nasser Koti General Manager Sifco in a ceremony held at the DED-Ajman headquarters. &nb...
Fuelled by a line-up of mega-projects the natural stone industry in the Middle East and North Africa (Mena) region is expanding to accommodate the construction sector s demand for the application of natural stone in interior and exterior design said experts at this year s Middle East Stone expo. The premier B2B event for the natural stone marble and ceramics industry was held recently at the Dubai World Trade Centre. Durable stone such as granite and marble from Brazil Italy and Turkey were the centrepiece of international pavilions during the event said the experts. Leading stone trade and supplier associations from Brazil Italy Portugal Greece Turkey India and China took part in this year s thus representing some of the country pavilion exhibitors using Middle East Stone as a springboard into the regional market. Gianpaolo Bruno Trade Commissioner to the UAE Oman and Pakistan ...
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Fuelled by a line-up of mega-projects the natural stone industry in the Middle East and North Africa (Mena) region is expanding to accommodate the construction sector s demand for the application of natural stone in interior and exterior design said experts at this year s Middle East Stone expo. The premier B2B event for the natural stone marble and ceramics industry was held recently at the Dubai World Trade Centre. Durable stone such as granite and marble from Brazil Italy and Turkey were the centrepiece of international pavilions during the event said the experts. Leading stone trade and supplier associations from Brazil Italy Portugal Greece Turkey India and China took part in this year s thus representing some of the country pavilion exhibitors using Middle East Stone as a springboard into the regional market. Gianpaolo Bruno Trade Commissioner to the UAE Oman and Pakistan ...
Leading global developer Emaar Properties has been ranked as the world s largest property company outside China with a brand value of over 2.7 billion thus making it the first choice for international investors seeking high-value returns. According to Brand Finance a leading brand valuation and strategy consultancy Emaar is also among the top 10 brands in the Middle East. The ranking underpins Emaar s appeal among high net worth global investors seeking real estate investment opportunities in Dubai with Emaar already serving more than 200 nationalities as its valued customers. It is also the only company outside China in the top 10 most valuable real estate brands with its brand value increasing by 39 per cent in the past year it stated. Emaar s global investors come from China Singapore and Southeast Asia South Asia Japan the UK and rest of Europe the US Egypt and from across t...
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Leading global developer Emaar Properties has been ranked as the world s largest property company outside China with a brand value of over 2.7 billion thus making it the first choice for international investors seeking high-value returns. According to Brand Finance a leading brand valuation and strategy consultancy Emaar is also among the top 10 brands in the Middle East. The ranking underpins Emaar s appeal among high net worth global investors seeking real estate investment opportunities in Dubai with Emaar already serving more than 200 nationalities as its valued customers. It is also the only company outside China in the top 10 most valuable real estate brands with its brand value increasing by 39 per cent in the past year it stated. Emaar s global investors come from China Singapore and Southeast Asia South Asia Japan the UK and rest of Europe the US Egypt and from across t...
Qatari government has announced plans to invest nearly QR60 billion ( 16.1 billion) into the country s infrastructure and real estate sectors over the next four years said a report citing a senior official. This is in addition to a QR2 billion in terms of developing food security projects for the period said Khamis Ahmed Al Mohannadi Chairman Private Sector Development and Support on the sidelines of Qatar-Germany Business and Investment Forum held recently. There are huge investment opportunities available in logistics health education and some key projects related to the industrial sector. There are many other areas as well in which private sector can play a critical role in Qatar Al Mohannadi told The Peninsula. Currently over 300 German companies are directly operating in Qatar. They are mainly into technology infrastructure and transportation he stated. We want more and more German companies to...
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Qatari government has announced plans to invest nearly QR60 billion ( 16.1 billion) into the country s infrastructure and real estate sectors over the next four years said a report citing a senior official. This is in addition to a QR2 billion in terms of developing food security projects for the period said Khamis Ahmed Al Mohannadi Chairman Private Sector Development and Support on the sidelines of Qatar-Germany Business and Investment Forum held recently. There are huge investment opportunities available in logistics health education and some key projects related to the industrial sector. There are many other areas as well in which private sector can play a critical role in Qatar Al Mohannadi told The Peninsula. Currently over 300 German companies are directly operating in Qatar. They are mainly into technology infrastructure and transportation he stated. We want more and more German companies to...
UAE-based Aldar Properties has announced the launch of Aldar Investment Properties the region s largest diversified real estate investment company which has been mainly designed to drive greater operational and capital efficiencies that will unlock value for shareholders and create the foundation for a new phase of accelerated growth. This comes following the recent Abu Dhabi Executive Council decree extending full onshore real estate ownership rights to Aldar Properties and its subsidiaries in the emirate. The company will take ownership of some of Abu Dhabi s highest quality revenue-generating real estate assets valued at Dh20 billion ( 5.4 billion). The creation of Aldar Investments allows Aldar to spin off its recurring-revenue assets into a 100 per cent-owned separate entity with greater independence focused governance and a more efficient cost structure said a statement from the UAE developer. Aldar Investments operate...
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UAE-based Aldar Properties has announced the launch of Aldar Investment Properties the region s largest diversified real estate investment company which has been mainly designed to drive greater operational and capital efficiencies that will unlock value for shareholders and create the foundation for a new phase of accelerated growth. This comes following the recent Abu Dhabi Executive Council decree extending full onshore real estate ownership rights to Aldar Properties and its subsidiaries in the emirate. The company will take ownership of some of Abu Dhabi s highest quality revenue-generating real estate assets valued at Dh20 billion ( 5.4 billion). The creation of Aldar Investments allows Aldar to spin off its recurring-revenue assets into a 100 per cent-owned separate entity with greater independence focused governance and a more efficient cost structure said a statement from the UAE developer. Aldar Investments operate...
Dubai Land Department (DLD) signed a memorandum of understanding (MoU) with the Reed Midem SAS a France-based provider of international B2B events and exhibitions to promote the services offered by DLD. The agreement aims to enhance the trust in Dubai s real estate sector through a cooperation between the two parties. The company will use its expertise to promote DLD s services across investors. Sultan Butti bin Mejren director general of DLD commented: We are keen to establish cooperative relations with companies specialised in real estate promotion in major markets around the world. We look forward to attracting more investors to our real estate market especially as we are witnessing an increasing number of investors in recent years. The French Reed Midem SAS will help highlight the many advantages of Dubai s investment opportunities allowing us to emphasise Dubai s competitiveness as a world-class environment capabl...
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Dubai Land Department (DLD) signed a memorandum of understanding (MoU) with the Reed Midem SAS a France-based provider of international B2B events and exhibitions to promote the services offered by DLD. The agreement aims to enhance the trust in Dubai s real estate sector through a cooperation between the two parties. The company will use its expertise to promote DLD s services across investors. Sultan Butti bin Mejren director general of DLD commented: We are keen to establish cooperative relations with companies specialised in real estate promotion in major markets around the world. We look forward to attracting more investors to our real estate market especially as we are witnessing an increasing number of investors in recent years. The French Reed Midem SAS will help highlight the many advantages of Dubai s investment opportunities allowing us to emphasise Dubai s competitiveness as a world-class environment capabl...
Saudi Arabian cabinet has given approval for converting the State Property Department into a general authority which will be named General Real Estate Authority said a report. This move will help enhance the efficiency of the kingdom s assets management reported Argaam citing Yarob Al Thunayan the undersecretary of the Ministry of Finance for Communication and Information. The independence of the general real estate authority will give the entity more room for business development. Accordingly it will directly or indirectly set up many new firms stated Al Thunayan. The authority will also work closely with the private sector to develop the state s assets said the top official. The new entity would be in charge of the state properties and would define the best investment opportunities lay out policies and develop a related data base in line with Saudi Vision 2030 he ad...
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Saudi Arabian cabinet has given approval for converting the State Property Department into a general authority which will be named General Real Estate Authority said a report. This move will help enhance the efficiency of the kingdom s assets management reported Argaam citing Yarob Al Thunayan the undersecretary of the Ministry of Finance for Communication and Information. The independence of the general real estate authority will give the entity more room for business development. Accordingly it will directly or indirectly set up many new firms stated Al Thunayan. The authority will also work closely with the private sector to develop the state s assets said the top official. The new entity would be in charge of the state properties and would define the best investment opportunities lay out policies and develop a related data base in line with Saudi Vision 2030 he ad...
The Dubai Chamber of Commerce and Industry recently hosted a workshop which provided the business community with more clarity on existing real estate laws in the UAE and recent regulatory developments impacting the sector. The workshop led by Dubai-based law firm Galadari Advocates & Legal Consultants was held at the chamber s premises and attended by its members besides lawyers and legal consultants real estate brokers real estate agents real estate investors real estate counsel and contract administrators. Participants were briefed on several aspects related to the sector including market risks and challenges case studies of real estate disputes and practical tips for maximising the benefits of real estate investments. The workshop entitled Insight into Real Estate Laws was led by several experienced lawyers from Galadari Advocates & Legal Consultants who specialise in real estate corporate lit...
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The Dubai Chamber of Commerce and Industry recently hosted a workshop which provided the business community with more clarity on existing real estate laws in the UAE and recent regulatory developments impacting the sector. The workshop led by Dubai-based law firm Galadari Advocates & Legal Consultants was held at the chamber s premises and attended by its members besides lawyers and legal consultants real estate brokers real estate agents real estate investors real estate counsel and contract administrators. Participants were briefed on several aspects related to the sector including market risks and challenges case studies of real estate disputes and practical tips for maximising the benefits of real estate investments. The workshop entitled Insight into Real Estate Laws was led by several experienced lawyers from Galadari Advocates & Legal Consultants who specialise in real estate corporate lit...
Orascom Construction a leading global engineering and construction contractor in the region said its net income attributable to shareholders increased 113.5 per cent in the second quarter of 2018 to 50.6 million compared to 23.7 million for the same period last year. Announcing the results for the first six months of the year the Egyptian group said its consolidated profit surged to 87 million from 58.8 million a year ago. However the revenue plunged to 750.1 million in the second quarter from 947.2 million last year while the consolidated revenue fell to 1.5 billion for the first six months compared to 2.02 billion last year. Orsacom Construction pointed out that of the revenue 64 per cent of total share came from the Middle East and North Africa (Mena) region while the US operations accounted for the balance during both periods. The decline in revenue compared to last year is mainly attributable to the co...
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Orascom Construction a leading global engineering and construction contractor in the region said its net income attributable to shareholders increased 113.5 per cent in the second quarter of 2018 to 50.6 million compared to 23.7 million for the same period last year. Announcing the results for the first six months of the year the Egyptian group said its consolidated profit surged to 87 million from 58.8 million a year ago. However the revenue plunged to 750.1 million in the second quarter from 947.2 million last year while the consolidated revenue fell to 1.5 billion for the first six months compared to 2.02 billion last year. Orsacom Construction pointed out that of the revenue 64 per cent of total share came from the Middle East and North Africa (Mena) region while the US operations accounted for the balance during both periods. The decline in revenue compared to last year is mainly attributable to the co...
King Abdullah Economic City (KAEC) the largest privately-funded new city in the world has awarded a SR32.8 million ( 8.74 million) contract to Creet Contracting Company for development of necessary infrastructure over a sprawling 836 000 sq m area within the development. Set up in 2004 the Jeddah-based Creet Contracting is a specialist in the field of industrial high-end commercial residential complex hotels and electro-mechanical projects covering stages from development feasibility design engineering project management to the execution and turnkey handing over. The scope of work includes construction of roads/highways; stormwater drainage network and electrical power infrastructure besides potable/irrigation and firefighting water and sewerage network; treated sewage effluent and the telecommunications network said a statement from master developer Emaar The Economic City (EEC). A Tadawul-listed real estate development and...
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King Abdullah Economic City (KAEC) the largest privately-funded new city in the world has awarded a SR32.8 million ( 8.74 million) contract to Creet Contracting Company for development of necessary infrastructure over a sprawling 836 000 sq m area within the development. Set up in 2004 the Jeddah-based Creet Contracting is a specialist in the field of industrial high-end commercial residential complex hotels and electro-mechanical projects covering stages from development feasibility design engineering project management to the execution and turnkey handing over. The scope of work includes construction of roads/highways; stormwater drainage network and electrical power infrastructure besides potable/irrigation and firefighting water and sewerage network; treated sewage effluent and the telecommunications network said a statement from master developer Emaar The Economic City (EEC). A Tadawul-listed real estate development and...
Kanoo Logistics a business division of Yusuf bin Ahmed Kanoo (YBA Kanoo) Group has announced the launch of its new state-of-the-art logistics facility near the King Abdul Aziz Port in Dammam Saudi Arabia. The facility possesses a 100 000-sq-m yard which includes a 10 000-sq-m warehouse. The multipurpose facility contains 500 sq m of elevated staging area and 5000 sq m of parking space said a statement from Kanoo Logistics. Acting CEO Fawzi Ahmed Kanoo said: YBA Kanoo is always looking for solutions that will benefit our customers and help their businesses grow therefore we chose the area near King Abdulaziz Port in Dammam to build the new warehouse since it is an ideal location to store both imported and exported goods. Kanoo Logistics network includes both dedicated and multipurpose warehouses in Saudi Arabia (Dammam Jeddah and Riyadh); UAE (Jebel Ali Dafza and Al Quoz); Oman (Muscat); and Bahrai...
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Kanoo Logistics a business division of Yusuf bin Ahmed Kanoo (YBA Kanoo) Group has announced the launch of its new state-of-the-art logistics facility near the King Abdul Aziz Port in Dammam Saudi Arabia. The facility possesses a 100 000-sq-m yard which includes a 10 000-sq-m warehouse. The multipurpose facility contains 500 sq m of elevated staging area and 5000 sq m of parking space said a statement from Kanoo Logistics. Acting CEO Fawzi Ahmed Kanoo said: YBA Kanoo is always looking for solutions that will benefit our customers and help their businesses grow therefore we chose the area near King Abdulaziz Port in Dammam to build the new warehouse since it is an ideal location to store both imported and exported goods. Kanoo Logistics network includes both dedicated and multipurpose warehouses in Saudi Arabia (Dammam Jeddah and Riyadh); UAE (Jebel Ali Dafza and Al Quoz); Oman (Muscat); and Bahrai...
Real estate projects worth more than BD2 billion ( 5.3 billion) are being showcased by leading Bahraini and Gulf real estate development companies at the Bahrain Property Development Exhibition (BaPDEX 2018) which opened yesterday (August 27). Works Municipalities Affairs and Urban Planning Minister and RERA deputy chairman Issam bin Abdulla Khalaf opened the five-day exhibition at the City Centre Bahrain said a Bahrain News Agency report. The third edition of BaPDEX 2018 is organized under the patronage of the Survey and Land Registration (SLRB) president Shaikh Salman bin Abdulla bin Hamad Al-Khalifa. The minister pointed out the key role of the companies in encouraging real estate investments and support the national economy. He added that the construction projects reflect the interest of His Majesty King Hamad bin Isa Al Khalifa to achi...
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Real estate projects worth more than BD2 billion ( 5.3 billion) are being showcased by leading Bahraini and Gulf real estate development companies at the Bahrain Property Development Exhibition (BaPDEX 2018) which opened yesterday (August 27). Works Municipalities Affairs and Urban Planning Minister and RERA deputy chairman Issam bin Abdulla Khalaf opened the five-day exhibition at the City Centre Bahrain said a Bahrain News Agency report. The third edition of BaPDEX 2018 is organized under the patronage of the Survey and Land Registration (SLRB) president Shaikh Salman bin Abdulla bin Hamad Al-Khalifa. The minister pointed out the key role of the companies in encouraging real estate investments and support the national economy. He added that the construction projects reflect the interest of His Majesty King Hamad bin Isa Al Khalifa to achi...
Bahrain-based Cityview Real Estate Development Company said it has completed the company s Cityview residential tower located in the Seef District. The project which had been put on hold in 2011 was completed with the help of one of its key shareholders Ithmaar Bank which provided the necessary financing. Ithmaar Holding an investment firm listed on the Bahrain Bourse Boursa Kuwait and Dubai Financial Market owns 51 per cent stake in Cityview development through its subsidiary. Cityview tower comprises a total of 88 apartments offering amenities such as a gym health club and swimming pool dedicated to the residents. On the project completion Cityview chairman Abdulhakeem Al Mutawa said: This achievement is the result of many entities and people from various technical and financial teams working closely together and creating powerful synergies. These include governmental ent...
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Bahrain-based Cityview Real Estate Development Company said it has completed the company s Cityview residential tower located in the Seef District. The project which had been put on hold in 2011 was completed with the help of one of its key shareholders Ithmaar Bank which provided the necessary financing. Ithmaar Holding an investment firm listed on the Bahrain Bourse Boursa Kuwait and Dubai Financial Market owns 51 per cent stake in Cityview development through its subsidiary. Cityview tower comprises a total of 88 apartments offering amenities such as a gym health club and swimming pool dedicated to the residents. On the project completion Cityview chairman Abdulhakeem Al Mutawa said: This achievement is the result of many entities and people from various technical and financial teams working closely together and creating powerful synergies. These include governmental ent...
Hotel supply in the Middle East and Africa (MEA) continues to grow as the region registered a total of 560 properties with 147 700 rooms under construction in July. Of the total about 415 hotels (121 233 rooms) are in the Middle East while the rest are in the African region the July Pipeline Report from STR Global showed. Dubai topped the MEA list for the largest number of rooms under construction with the total put at 50 094 rooms. Two other markets reported more than 10 000 rooms under construction: Saudi Arabia (45 687 rooms) and Qatar (11 814 rooms). The Middle East room construction total represents a 27.5 per cent increase compared with July 2017. The report also highlighted projects in the final planning and planning stages. A total of 29 145 rooms in 121 hotels (up 58.4 per cent year-over-year) were registered in the final planning stage and 56 114 rooms in 207 properties (up 6.5 per cent year-on...
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Hotel supply in the Middle East and Africa (MEA) continues to grow as the region registered a total of 560 properties with 147 700 rooms under construction in July. Of the total about 415 hotels (121 233 rooms) are in the Middle East while the rest are in the African region the July Pipeline Report from STR Global showed. Dubai topped the MEA list for the largest number of rooms under construction with the total put at 50 094 rooms. Two other markets reported more than 10 000 rooms under construction: Saudi Arabia (45 687 rooms) and Qatar (11 814 rooms). The Middle East room construction total represents a 27.5 per cent increase compared with July 2017. The report also highlighted projects in the final planning and planning stages. A total of 29 145 rooms in 121 hotels (up 58.4 per cent year-over-year) were registered in the final planning stage and 56 114 rooms in 207 properties (up 6.5 per cent year-on...
Ongoing liquidity issues within the Middle East construction market have resulted in a steady flow of claims being submitted as contractors take a tougher approach to entitlements however the industry continues to make progress in resolving them more swiftly said a report from leading global design and consultancy firm Arcadis. The average value of construction disputes increased over the last year due to the small number of higher-value claims stated the expert in its 2018 Global Construction Disputes Report. This annual study from Arcadis examines the most common causes of dispute on construction projects as well as the average duration and value of disputes and the method of dispute resolution most commonly deployed. The findings are based on an assessment of the construction disputes handled by the Arcadis Contract Solutions team in various regions over the previous 12 months. The study found that the length of time...
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Ongoing liquidity issues within the Middle East construction market have resulted in a steady flow of claims being submitted as contractors take a tougher approach to entitlements however the industry continues to make progress in resolving them more swiftly said a report from leading global design and consultancy firm Arcadis. The average value of construction disputes increased over the last year due to the small number of higher-value claims stated the expert in its 2018 Global Construction Disputes Report. This annual study from Arcadis examines the most common causes of dispute on construction projects as well as the average duration and value of disputes and the method of dispute resolution most commonly deployed. The findings are based on an assessment of the construction disputes handled by the Arcadis Contract Solutions team in various regions over the previous 12 months. The study found that the length of time...
Al Akaria Saudi Real Estate Company (Sreco) one of the largest publicly listed real estate developers on the Saudi stock exchange (Tadawul) has posted SR30.27 million ( 8.23 million) net profit for the second quarter up 46.16 per cent over last year. Announcing the financial results for the second quarter Sreco said the company improved its gross margins to 70.4 per cent during the quarter from last year s 67.5 per cent thanks to a surge in revenues which hit Dh83.1 million up 5.7 per cent compared to last year. The net profits were also boosted by gains from revaluation of derivative financial instruments amounting to SR5.4 million compared to losses of SR6.3 million during the same period last year. In line with the company s strategy to become a developer of large-scale integrated communities Sreco had recently announced plans for Al Widyan a 7 million sq m mixed-use development in a strategic location of Riyadh. br...
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Al Akaria Saudi Real Estate Company (Sreco) one of the largest publicly listed real estate developers on the Saudi stock exchange (Tadawul) has posted SR30.27 million ( 8.23 million) net profit for the second quarter up 46.16 per cent over last year. Announcing the financial results for the second quarter Sreco said the company improved its gross margins to 70.4 per cent during the quarter from last year s 67.5 per cent thanks to a surge in revenues which hit Dh83.1 million up 5.7 per cent compared to last year. The net profits were also boosted by gains from revaluation of derivative financial instruments amounting to SR5.4 million compared to losses of SR6.3 million during the same period last year. In line with the company s strategy to become a developer of large-scale integrated communities Sreco had recently announced plans for Al Widyan a 7 million sq m mixed-use development in a strategic location of Riyadh. br...
With more than 1 400 active construction projects worth 348.2 billion in Egypt the country is going through a phase of economic prosperity across the board and especially in the construction sector said a report ahead of The Big 5 Construct Egypt expo. To be held from September 18 to 21 at the Egypt International Exhibition Centre (EIEC) the Big 5 Construct Egypt will help connect industry experts buyers and manufacturers of construction products from all over the world. The Big 5 is a series of construction trade fairs originating in Dubai aimed at connecting international suppliers of construction products and services with buyers from the Mena region. Last year Egypt s construction market output recorded a 10 per cent growth as opposed to an average annual growth rate of 5.3 per cent over the previous 4 years stated the report by BNC. The report entitled Urban Construction in Egypt complimen...
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With more than 1 400 active construction projects worth 348.2 billion in Egypt the country is going through a phase of economic prosperity across the board and especially in the construction sector said a report ahead of The Big 5 Construct Egypt expo. To be held from September 18 to 21 at the Egypt International Exhibition Centre (EIEC) the Big 5 Construct Egypt will help connect industry experts buyers and manufacturers of construction products from all over the world. The Big 5 is a series of construction trade fairs originating in Dubai aimed at connecting international suppliers of construction products and services with buyers from the Mena region. Last year Egypt s construction market output recorded a 10 per cent growth as opposed to an average annual growth rate of 5.3 per cent over the previous 4 years stated the report by BNC. The report entitled Urban Construction in Egypt complimen...
There has been a steady increase in the number of REIT (real estate investment trusts) listings in Saudi Arabia during the first half even as the investors in the rest of the GCC markets have taken a cautious optimistic approach according to a new report from PwC a global provider of assurance advisory and tax services. Saudi stock exchange Tadawul witnessed eight REIT listings in first six months together with a 13 million listing of an insurance company in Oman generating total proceeds of 893 million across GCC compared to 610 million raised from 15 IPOs for the same period last year. The increase in proceeds is mainly due to the two key IPOs - Sedco Capital REIT ( 173 million) and Bonyan REIT ( 174 million). Investors continued to tread cautiously in the GCC equity markets in the second quarter stated the report. In terms of stock market performance Tadawul remained the best performing stock exchange wi...
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There has been a steady increase in the number of REIT (real estate investment trusts) listings in Saudi Arabia during the first half even as the investors in the rest of the GCC markets have taken a cautious optimistic approach according to a new report from PwC a global provider of assurance advisory and tax services. Saudi stock exchange Tadawul witnessed eight REIT listings in first six months together with a 13 million listing of an insurance company in Oman generating total proceeds of 893 million across GCC compared to 610 million raised from 15 IPOs for the same period last year. The increase in proceeds is mainly due to the two key IPOs - Sedco Capital REIT ( 173 million) and Bonyan REIT ( 174 million). Investors continued to tread cautiously in the GCC equity markets in the second quarter stated the report. In terms of stock market performance Tadawul remained the best performing stock exchange wi...
Oman s real estate sector witnessed solid growth in the first half netting RO1.5 billion ( 3.88 billion) from a total of 208 966 transactions during the six-month period said a report. Interestingly out of this figure a record RO79 million ( 205 million) worth of deals were made in just five days - from July 15 to 19 reported Times of Oman citing data from Oman s Ministry of Housing. The highest number of sales transactions took place in capital Muscat followed by the governorate of North Al Batinah it stated. At the governorate level a total of 208 966 real estate transactions were recorded in the first half of which 39 687 transactions were registered in capital Muscat followed by 11 169 in Dhofar a top ministry official was quoted as saying in the report. A total of 31 459 deals were made in South Al Batinah; 43 619 in North Al Batinah; 13 090 in South Al Sharqiyah; 16 110 in North Al Sha...
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Oman s real estate sector witnessed solid growth in the first half netting RO1.5 billion ( 3.88 billion) from a total of 208 966 transactions during the six-month period said a report. Interestingly out of this figure a record RO79 million ( 205 million) worth of deals were made in just five days - from July 15 to 19 reported Times of Oman citing data from Oman s Ministry of Housing. The highest number of sales transactions took place in capital Muscat followed by the governorate of North Al Batinah it stated. At the governorate level a total of 208 966 real estate transactions were recorded in the first half of which 39 687 transactions were registered in capital Muscat followed by 11 169 in Dhofar a top ministry official was quoted as saying in the report. A total of 31 459 deals were made in South Al Batinah; 43 619 in North Al Batinah; 13 090 in South Al Sharqiyah; 16 110 in North Al Sha...
Kuwait will be issuing identification cards to all real estate brokers in the country over the next few days in a bid to help address the problems that citizens face in dealing with illegal brokers said a report. The Ministry of Commerce and Industry s move is aimed at ending chaos in the concerned governmental bodies due to the existence of many expatriate real estate brokers reported Arab Times citing sources. Sources said the identification cards will be distributed to real estate broker offices which have updated their data; indicating that 600 out of 3 300 such offices have so far updated their data it added. ...
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Kuwait will be issuing identification cards to all real estate brokers in the country over the next few days in a bid to help address the problems that citizens face in dealing with illegal brokers said a report. The Ministry of Commerce and Industry s move is aimed at ending chaos in the concerned governmental bodies due to the existence of many expatriate real estate brokers reported Arab Times citing sources. Sources said the identification cards will be distributed to real estate broker offices which have updated their data; indicating that 600 out of 3 300 such offices have so far updated their data it added. ...
Although market conditions in Abu Dhabi remain relatively unchanged the second quarter witnessed a major announcement by Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces Sheikh Mohamed bin Zayed Al Nahyan introducing an economic stimulus package for Abu Dhabi to drive economic growth said leading real estate expert JLL. The stimulus package introduced in early June this year will drive initiatives that directly affect the real estate sector by reducing costs for developers promoting partnerships between public and private sectors and also providing dual licenses for companies located in free zones to bid for and undertake government tenders outside the free zone stated JLL in its latest Abu Dhabi Q2 real estate report. The new government economic stimulus package has positive implications for the UAE capital with new initiatives directly impacting the real estate market and as with previous government stimul...
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Although market conditions in Abu Dhabi remain relatively unchanged the second quarter witnessed a major announcement by Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces Sheikh Mohamed bin Zayed Al Nahyan introducing an economic stimulus package for Abu Dhabi to drive economic growth said leading real estate expert JLL. The stimulus package introduced in early June this year will drive initiatives that directly affect the real estate sector by reducing costs for developers promoting partnerships between public and private sectors and also providing dual licenses for companies located in free zones to bid for and undertake government tenders outside the free zone stated JLL in its latest Abu Dhabi Q2 real estate report. The new government economic stimulus package has positive implications for the UAE capital with new initiatives directly impacting the real estate market and as with previous government stimul...
Qatar is set to award an estimated 85 billion worth of planned projects in the coming years according to a report. Of these planned but unawarded projects about 9.1 billion worth of projects are under study while about 31.7 billion worth of projects are at some stage of tendering while 44 billion projects are in the designing stage reported The Peninsula. About 12.1 billion worth of projects are planned or under way in the oil and gas project market said the report citing leading market and business intelligence platform Meed. Upstream projects account for the lion s share (about 55 per cent) of the country s oil and gas projects it added. Qatar s 10 biggest construction clients together have about 55.1 billion worth of projects in execution with Qatari Diar topping the list with about 18.5 billion of projects under construction. Barwa Real Estate Company...
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Qatar is set to award an estimated 85 billion worth of planned projects in the coming years according to a report. Of these planned but unawarded projects about 9.1 billion worth of projects are under study while about 31.7 billion worth of projects are at some stage of tendering while 44 billion projects are in the designing stage reported The Peninsula. About 12.1 billion worth of projects are planned or under way in the oil and gas project market said the report citing leading market and business intelligence platform Meed. Upstream projects account for the lion s share (about 55 per cent) of the country s oil and gas projects it added. Qatar s 10 biggest construction clients together have about 55.1 billion worth of projects in execution with Qatari Diar topping the list with about 18.5 billion of projects under construction. Barwa Real Estate Company...
Saudi Ministry of Housing has intensified inspections of real estate brokerage offices in Jeddah and other cities across the kingdom to check compliance with the new rental agreement system Ejar said a report. Ejar was introduced to bring transparency in the residential sector and protect the rights of tenants at all stages of the rental process reported the Saudi Gazette. The new system would help end tenancy disputes after the Ministry of Labour and Social Development and the Ministry of Housing announced their plan to link the renewal or issuance of work permits with the authentication of house rent contracts in the Ejar network stated the report citing experts. Following the inspections many real estate offices in Jeddah. mainly dominated by Sudanese expatriates have downed their shutters. Others are working to install Ejar system software to avoid heavy penalties stated the report. The fee for the reg...
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Saudi Ministry of Housing has intensified inspections of real estate brokerage offices in Jeddah and other cities across the kingdom to check compliance with the new rental agreement system Ejar said a report. Ejar was introduced to bring transparency in the residential sector and protect the rights of tenants at all stages of the rental process reported the Saudi Gazette. The new system would help end tenancy disputes after the Ministry of Labour and Social Development and the Ministry of Housing announced their plan to link the renewal or issuance of work permits with the authentication of house rent contracts in the Ejar network stated the report citing experts. Following the inspections many real estate offices in Jeddah. mainly dominated by Sudanese expatriates have downed their shutters. Others are working to install Ejar system software to avoid heavy penalties stated the report. The fee for the reg...
Al Akaria Saudi Real Estate Company (Sreco) a leading property developer in the kingdom has appointed Mamdouh Saud Al Sharhan as its new chief executive officer with immediate effect. He takes over the top post following the resignation of Abdullah bin Ibrahim Saad Al Ayadhi after a three-year tenure as CEO said a statement from the company. Prior to joining Sreco Al Sharhan was in the consulting department in the Saudi Industrial Development Fund (SIDF) as an expert in financing for The Saudi Fund for Development. He then joined the Public Investment Fund of Saudi Arabia (PIF) as the assistant secretary general and secretary of the board of directors where he was responsible for financial institutions portfolio local and international banks. Al Sharhan was also the vice chairman of the board and chairman of the executive committee at Bidaya Home Finance a leader of the establishment team at Saudi Real Estate Refina...
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Al Akaria Saudi Real Estate Company (Sreco) a leading property developer in the kingdom has appointed Mamdouh Saud Al Sharhan as its new chief executive officer with immediate effect. He takes over the top post following the resignation of Abdullah bin Ibrahim Saad Al Ayadhi after a three-year tenure as CEO said a statement from the company. Prior to joining Sreco Al Sharhan was in the consulting department in the Saudi Industrial Development Fund (SIDF) as an expert in financing for The Saudi Fund for Development. He then joined the Public Investment Fund of Saudi Arabia (PIF) as the assistant secretary general and secretary of the board of directors where he was responsible for financial institutions portfolio local and international banks. Al Sharhan was also the vice chairman of the board and chairman of the executive committee at Bidaya Home Finance a leader of the establishment team at Saudi Real Estate Refina...
The Saudi real estate price index levelled down 1.6 per cent year-on-year during the second quarter of 2018 reported Mubasher citing data from the kingdom s General Authority for Statistics. The drop in the kingdom s real estate price index was attributed to a 1.2 per cent decline in prices of residential sector followed by a 2.5 per cent drop in commercial sector and 0.3 per cent decrease in agricultural sector stated the report. Quarter-on-quarter the GCC nation s real estate price index inched down 0.7 per cent due to a 0.8 per cent 0.4 per cent and 0.1 per cent decline in residential commercial and agricultural sectors respectively it added. ...
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The Saudi real estate price index levelled down 1.6 per cent year-on-year during the second quarter of 2018 reported Mubasher citing data from the kingdom s General Authority for Statistics. The drop in the kingdom s real estate price index was attributed to a 1.2 per cent decline in prices of residential sector followed by a 2.5 per cent drop in commercial sector and 0.3 per cent decrease in agricultural sector stated the report. Quarter-on-quarter the GCC nation s real estate price index inched down 0.7 per cent due to a 0.8 per cent 0.4 per cent and 0.1 per cent decline in residential commercial and agricultural sectors respectively it added. ...
Dubai Municipality s new initiative that allows contractors to design and supervise metal structures for industrial projects without appointing consultancy offices has reduced the construction costs by 12 per cent and the project licensing period by 33 per cent said a top official. Dawood Al Hajiri the director general of Dubai Municipality was speaking at a ceremony to honour the companies involved in the design and implementation of the metal structures in the emirate. During the ceremony one of the companies that obtained the first such building permits presented its experience. Al Hajiri said that it is one of the many initiatives that will be launched by the municipality in a bid to simplify the procedures and reduce the cost of building and encourage investment by creating a stimulating environment with easy and fast procedures. According to this initiative the contractors were allowed to submit directly ...
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Dubai Municipality s new initiative that allows contractors to design and supervise metal structures for industrial projects without appointing consultancy offices has reduced the construction costs by 12 per cent and the project licensing period by 33 per cent said a top official. Dawood Al Hajiri the director general of Dubai Municipality was speaking at a ceremony to honour the companies involved in the design and implementation of the metal structures in the emirate. During the ceremony one of the companies that obtained the first such building permits presented its experience. Al Hajiri said that it is one of the many initiatives that will be launched by the municipality in a bid to simplify the procedures and reduce the cost of building and encourage investment by creating a stimulating environment with easy and fast procedures. According to this initiative the contractors were allowed to submit directly ...
Oman s logistics performance over the past two years significantly improved and jumped five places from 48th to occupy the 43rd position in the World Bank s recently released Logistics Performance Index (LPI) 2018 report. The LPI helps countries identify the challenges and opportunities they face in their trade logistics performance and how they can improve performance said the Oman Daily Observer report. The bi-annual LPI report measures countries across the six components of; efficiency of customs and border management clearance quality of trade and transport infrastructure ease of arranging competitively priced shipments competence and quality of logistics services ability to track and trace consignments and the frequency with which shipments reach consignees within scheduled or expected delivery times it added. br /...
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Oman s logistics performance over the past two years significantly improved and jumped five places from 48th to occupy the 43rd position in the World Bank s recently released Logistics Performance Index (LPI) 2018 report. The LPI helps countries identify the challenges and opportunities they face in their trade logistics performance and how they can improve performance said the Oman Daily Observer report. The bi-annual LPI report measures countries across the six components of; efficiency of customs and border management clearance quality of trade and transport infrastructure ease of arranging competitively priced shipments competence and quality of logistics services ability to track and trace consignments and the frequency with which shipments reach consignees within scheduled or expected delivery times it added. br /...
Al Naboodah Construction Group a subsidiary of Al Naboodah Group Enterprises (ANGE) one of the UAE s oldest and most respected family conglomerates has won new contracts worth over Dh750 million ( 204 million). These contracts include construction of new emergency services buildings; roads and street light works installation for utilities at a residential development besides construction of a new corporate headquarters for a leading airline and four sub-stations for Dubai Electricity and Water Authority (Dewa) to accommodate the growing demand from new developments. Three of the four sub-stations are contracted to ANCG through Mitsubishi Electric Corporation and are located in the communities of Wadi Al Safa Al Mamzar and Warsan in Dubai. The fourth sub-station will be delivered in partnership with Siemens and will service the Dubai South Jebel Ali neighbourhood. ANCG said the work on these sub-station...
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Al Naboodah Construction Group a subsidiary of Al Naboodah Group Enterprises (ANGE) one of the UAE s oldest and most respected family conglomerates has won new contracts worth over Dh750 million ( 204 million). These contracts include construction of new emergency services buildings; roads and street light works installation for utilities at a residential development besides construction of a new corporate headquarters for a leading airline and four sub-stations for Dubai Electricity and Water Authority (Dewa) to accommodate the growing demand from new developments. Three of the four sub-stations are contracted to ANCG through Mitsubishi Electric Corporation and are located in the communities of Wadi Al Safa Al Mamzar and Warsan in Dubai. The fourth sub-station will be delivered in partnership with Siemens and will service the Dubai South Jebel Ali neighbourhood. ANCG said the work on these sub-station...
Gulf Pinnacle Logistics (GPL) is looking to sign more than five new schools to its bus transportation business adding thousands of students by the end of 2018. The company is in advanced discussions with various schools in the country according to Shailesh Dash chairman at Gulf Pinnacle Logistics. Gulf Pinnacle Logistics entered the school bus transportation business under the name of Gulf Pinnacle Transport (GPT) in September 2016 with three school transportation contracts providing services to 450 students with 30 busses. In less than two years the firm was able to expand its transportation contracts to 13 schools served via 250 buses and catering transportation services to more than 6 000 students. GPT s portfolio of schools is a mix of highly regarded institutions spread between Dubai Abu Dhabi and Sharjah offering British American and Indian curriculums. This phenomenal growth is largely d...
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Gulf Pinnacle Logistics (GPL) is looking to sign more than five new schools to its bus transportation business adding thousands of students by the end of 2018. The company is in advanced discussions with various schools in the country according to Shailesh Dash chairman at Gulf Pinnacle Logistics. Gulf Pinnacle Logistics entered the school bus transportation business under the name of Gulf Pinnacle Transport (GPT) in September 2016 with three school transportation contracts providing services to 450 students with 30 busses. In less than two years the firm was able to expand its transportation contracts to 13 schools served via 250 buses and catering transportation services to more than 6 000 students. GPT s portfolio of schools is a mix of highly regarded institutions spread between Dubai Abu Dhabi and Sharjah offering British American and Indian curriculums. This phenomenal growth is largely d...
The real estate market in Egyptian capital Cairo has witnessed an ongoing uplift in performance across most sectors with the residential sector in particular benefiting from increased sale prices in 2018 said leading property expert JLL. Increased investor confidence is evident across the residential market with developers reporting positive sales performances and construction of the New Capital City fast on track sated JLL in its report. The report noted that sales sector continues to outperform the rental sector with sales prices increasing while rentals have fallen marginally across all sectors during the second quarter. This reflects healthy sales demand from millennials entering the prime home buying age and the country s fast growing population. Egypt s GDP growth is expected to accelerate to 5.3 per cent in the 2017/2018 fiscal year compared to 4.2 per cent in the previous year said the property expert citing t...
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The real estate market in Egyptian capital Cairo has witnessed an ongoing uplift in performance across most sectors with the residential sector in particular benefiting from increased sale prices in 2018 said leading property expert JLL. Increased investor confidence is evident across the residential market with developers reporting positive sales performances and construction of the New Capital City fast on track sated JLL in its report. The report noted that sales sector continues to outperform the rental sector with sales prices increasing while rentals have fallen marginally across all sectors during the second quarter. This reflects healthy sales demand from millennials entering the prime home buying age and the country s fast growing population. Egypt s GDP growth is expected to accelerate to 5.3 per cent in the 2017/2018 fiscal year compared to 4.2 per cent in the previous year said the property expert citing t...
Fidu Properties a leading Chinese company in the UAE property market has announced massive expansion plans in the region with over Dh5 billion ( 1.36 billion) worth of investments in the UAE alone over the next three years. The company which opened its regional office in Dubai this April is also keen to expand its footprint in the region amidst bullish trends expected in the real estate sector said a statement from the Chinese group. Fidu aims to operate over 450 branches across GCC and the Asian subcontinent in the next three years. Through this aggressive expansion the company aims to create around 3 000 jobs in the region and beyond it stated. The strong expansion plans reinforces Fidu Properties commitment to the region and the strong potential it sees in the real estate growth across UAE the GCC and beyond it added. The new plans have been unveiled close on the heels of Fidu Properties announ...
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Fidu Properties a leading Chinese company in the UAE property market has announced massive expansion plans in the region with over Dh5 billion ( 1.36 billion) worth of investments in the UAE alone over the next three years. The company which opened its regional office in Dubai this April is also keen to expand its footprint in the region amidst bullish trends expected in the real estate sector said a statement from the Chinese group. Fidu aims to operate over 450 branches across GCC and the Asian subcontinent in the next three years. Through this aggressive expansion the company aims to create around 3 000 jobs in the region and beyond it stated. The strong expansion plans reinforces Fidu Properties commitment to the region and the strong potential it sees in the real estate growth across UAE the GCC and beyond it added. The new plans have been unveiled close on the heels of Fidu Properties announ...
DuPont Safety & Construction and SkyCell the Swiss-based manufacturer of temperature-controlled containers for food and pharmaceuticals have announced a formal alliance to collaborate on technical and market development. Both companies are global leaders in their respective fields and the partnership is expected to lead to transformational innovations in temperature monitoring shipment tracking asset management and smart data-driven services. The combined effort is aimed at maintaining the physical and clinical integrity of pharmaceuticals in transit. DuPont is a firm believer in the potential of strategic alliances like this one where each party can leverage its respective strength for powerful solutions said Christian Marx vice president and general manager of DuPont s Tyvek brand thermal cargo covers and Typar. There is a strong strategic fit between DuPont and SkyCell...
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DuPont Safety & Construction and SkyCell the Swiss-based manufacturer of temperature-controlled containers for food and pharmaceuticals have announced a formal alliance to collaborate on technical and market development. Both companies are global leaders in their respective fields and the partnership is expected to lead to transformational innovations in temperature monitoring shipment tracking asset management and smart data-driven services. The combined effort is aimed at maintaining the physical and clinical integrity of pharmaceuticals in transit. DuPont is a firm believer in the potential of strategic alliances like this one where each party can leverage its respective strength for powerful solutions said Christian Marx vice president and general manager of DuPont s Tyvek brand thermal cargo covers and Typar. There is a strong strategic fit between DuPont and SkyCell...
Arada the developer of mega mixed-use project Aljada in Sharjah has awarded the first construction contract for the project. The developer handed the main construction contract for the first four Areej Apartments blocks based within Phase 1 of Aljada to Modern Building Contracting Company (MBCC) a major contractor that has worked on sites throughout the UAE and Saudi Arabia. Mobilisation will take place onsite in the coming weeks with full construction set to commence by the end of July. In total over 250 units will be built across the four Areej Apartments blocks. The buildings which contain the first homes to be built within the 24-million-sq-ft project are scheduled to be completed by the end of 2019. Sheikh Sultan bin Ahmed Al Qasimi chairman of Arada said: This award is an important milestone for Aljada as we...
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Arada the developer of mega mixed-use project Aljada in Sharjah has awarded the first construction contract for the project. The developer handed the main construction contract for the first four Areej Apartments blocks based within Phase 1 of Aljada to Modern Building Contracting Company (MBCC) a major contractor that has worked on sites throughout the UAE and Saudi Arabia. Mobilisation will take place onsite in the coming weeks with full construction set to commence by the end of July. In total over 250 units will be built across the four Areej Apartments blocks. The buildings which contain the first homes to be built within the 24-million-sq-ft project are scheduled to be completed by the end of 2019. Sheikh Sultan bin Ahmed Al Qasimi chairman of Arada said: This award is an important milestone for Aljada as we...
Saudi Arabia and New Zealand have discussed means of cooperation in the field of construction real estate development and finding low-cost and sustainable solutions to achieve the objectives of the kingdom s Vision 2030. The discussions took place during a meeting between the general supervisor of Real Estate Development Fund Khalid bin Mohammed AlAmoudi and the Ambassador of New Zealand to Saudi Arabia James Munro in Riyadh said a Saudi Press Agency report. Saudi Arabia has unveiled an SR120 billion ( 32 billion) housing programme to boost Saudi ownership of homes from 47 per cent to 70 per cent by 2030. ...
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Saudi Arabia and New Zealand have discussed means of cooperation in the field of construction real estate development and finding low-cost and sustainable solutions to achieve the objectives of the kingdom s Vision 2030. The discussions took place during a meeting between the general supervisor of Real Estate Development Fund Khalid bin Mohammed AlAmoudi and the Ambassador of New Zealand to Saudi Arabia James Munro in Riyadh said a Saudi Press Agency report. Saudi Arabia has unveiled an SR120 billion ( 32 billion) housing programme to boost Saudi ownership of homes from 47 per cent to 70 per cent by 2030. ...
The UAE construction equipment rental market revenues are projected to grow at a CAGR of 3.3 per cent during 2018-24 according to a study. The market has registered substantial growth as a result of increasing construction activities as well as the strengthening of commercial hospitality and residential sectors said the 6Wresearch report. Construction sector growth is attributed to increased infrastructure spending for World Expo 2020. Further to avoid the cost of purchasing new equipment and to evade maintenance expenses construction companies in UAE are opting for renting the equipment said the report titled UAE Construction Equipment Rental Market (2014-2024) which provides in-depth analysis with 81 figures and 59 tables covered in more than 190 pages. Projects such as the 37-billion Yas Island Development and the 22-billion Masdar City which are expected to...
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The UAE construction equipment rental market revenues are projected to grow at a CAGR of 3.3 per cent during 2018-24 according to a study. The market has registered substantial growth as a result of increasing construction activities as well as the strengthening of commercial hospitality and residential sectors said the 6Wresearch report. Construction sector growth is attributed to increased infrastructure spending for World Expo 2020. Further to avoid the cost of purchasing new equipment and to evade maintenance expenses construction companies in UAE are opting for renting the equipment said the report titled UAE Construction Equipment Rental Market (2014-2024) which provides in-depth analysis with 81 figures and 59 tables covered in more than 190 pages. Projects such as the 37-billion Yas Island Development and the 22-billion Masdar City which are expected to...
The Construction Cost Index (CCI) in Abu Dhabi UAE reached a level of 103.5 per cent during the first quarter of 2018 an increase of 9.9 per cent compared to the first quarter of 2017 a media report said. Construction costs also rose during the first quarter of 2018 by 5.6 per cent compared to the fourth quarter of 2017 reported Emirates news agency Wam citing statistics issued by the Statistics Centre-Abu Dhabi (SCAD). The statistics issued by SCAD show that the workforce category was the most important group in the index and contributed to the rise in average construction cost during the first quarter of 2018 which increased by 19.9 per cent compared to the fourth quarter of the previous year. The cost of services included in the list also registered a rise of 15.9 per cent while the increase in the cost of construction materials reached 9.9 per cent as well as 3 per cent for mechanical and air conditioning works and ...
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The Construction Cost Index (CCI) in Abu Dhabi UAE reached a level of 103.5 per cent during the first quarter of 2018 an increase of 9.9 per cent compared to the first quarter of 2017 a media report said. Construction costs also rose during the first quarter of 2018 by 5.6 per cent compared to the fourth quarter of 2017 reported Emirates news agency Wam citing statistics issued by the Statistics Centre-Abu Dhabi (SCAD). The statistics issued by SCAD show that the workforce category was the most important group in the index and contributed to the rise in average construction cost during the first quarter of 2018 which increased by 19.9 per cent compared to the fourth quarter of the previous year. The cost of services included in the list also registered a rise of 15.9 per cent while the increase in the cost of construction materials reached 9.9 per cent as well as 3 per cent for mechanical and air conditioning works and ...
The volume of real estate transactions in Dubai rose to 27 642 worth Dh111 billion ( 30.2 billion) for the first half thus reaffirming the emirate s attractiveness and ability to compete with global investment destinations said a report by Dubai Land Department (DLD). The strengths portrayed by Dubai s real estate investments underscore the leadership s mandate to ease business processes and procedures it stated. According to a report by DLD s Department of Real Estates Studies and Research the first half recorded a total of 18 191 sales worth about Dh40 billion 7 668 mortgage transactions worth over Dh57.6 billion and 1 783 other transactions valued at Dh13.4 billion. DLD Director-General Sultan Butti bin Mejren said: The strategic decisions of the government are in line with the vision of HH Sheikh Mohammed bin Rashid Al Maktoum the Vice Presi...
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The volume of real estate transactions in Dubai rose to 27 642 worth Dh111 billion ( 30.2 billion) for the first half thus reaffirming the emirate s attractiveness and ability to compete with global investment destinations said a report by Dubai Land Department (DLD). The strengths portrayed by Dubai s real estate investments underscore the leadership s mandate to ease business processes and procedures it stated. According to a report by DLD s Department of Real Estates Studies and Research the first half recorded a total of 18 191 sales worth about Dh40 billion 7 668 mortgage transactions worth over Dh57.6 billion and 1 783 other transactions valued at Dh13.4 billion. DLD Director-General Sultan Butti bin Mejren said: The strategic decisions of the government are in line with the vision of HH Sheikh Mohammed bin Rashid Al Maktoum the Vice Presi...
Bahrain Islamic Bank (BisB) has recently signed a memorandum of understanding agreement with Bin Faqeeh Real Estate Investment Company to provide financing to potential residents of the luxury Sidra residential villa project. The signing ceremony was attended by Hassan Jarrar chief executive officer of BisB along with Faisal Faqeeh chairman of Bin Faqeeh Real Estate Investment Company as well as a number of officials from both parties at the headquarters of Bin Faqeeh located in Manama s Seef District. Through the agreement BisB will enable Bahraini customers to purchase villas in the Sidra residential Project of Bin Faqeeh under the Bank s mortgage financing scheme offering a 5 per cent reduction in the first instalment rate in addition to a financing period of up to 25 years. Non-Bahrainis will also be eligible to apply under a different financing scheme. Jarrar said: We are delighted to sign this agreement w...
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Bahrain Islamic Bank (BisB) has recently signed a memorandum of understanding agreement with Bin Faqeeh Real Estate Investment Company to provide financing to potential residents of the luxury Sidra residential villa project. The signing ceremony was attended by Hassan Jarrar chief executive officer of BisB along with Faisal Faqeeh chairman of Bin Faqeeh Real Estate Investment Company as well as a number of officials from both parties at the headquarters of Bin Faqeeh located in Manama s Seef District. Through the agreement BisB will enable Bahraini customers to purchase villas in the Sidra residential Project of Bin Faqeeh under the Bank s mortgage financing scheme offering a 5 per cent reduction in the first instalment rate in addition to a financing period of up to 25 years. Non-Bahrainis will also be eligible to apply under a different financing scheme. Jarrar said: We are delighted to sign this agreement w...
As the GCC countries pursue economic diversification and sustainable growth plans the need to digitise the freight transportation and logistics industry (T&L) is becoming increasingly important according to a recent report. At present the T&L industry in the GCC which is one of the key drivers of economic activity in the region faces a combined threat of declining business revenue and outdated infrastructure according to a recent study by management consultancy Strategy& Middle East (formerly Booz & Company) part of the PwC network. The study reveals that freight revenue in the region grew at a steady pace of about 10 per cent from 2010 to 2014 but since then has seen a decline of 5 per cent per year due to low oil prices which has resulted in a decline in imports businesses scaling back projects and governments spending less on freight infrastructure. The region s T&L industry significantly la...
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As the GCC countries pursue economic diversification and sustainable growth plans the need to digitise the freight transportation and logistics industry (T&L) is becoming increasingly important according to a recent report. At present the T&L industry in the GCC which is one of the key drivers of economic activity in the region faces a combined threat of declining business revenue and outdated infrastructure according to a recent study by management consultancy Strategy& Middle East (formerly Booz & Company) part of the PwC network. The study reveals that freight revenue in the region grew at a steady pace of about 10 per cent from 2010 to 2014 but since then has seen a decline of 5 per cent per year due to low oil prices which has resulted in a decline in imports businesses scaling back projects and governments spending less on freight infrastructure. The region s T&L industry significantly la...
Dubai-based global marine terminal operator DP World is planning to set up a logistics facility in Ethiopia to facilitate transportation of goods to landlocked countries in Africa said a report. DP World has signed a number of agreements with Ethiopia that will promote the friendly relationships with them. Business groups in Dubai can always benefit from our presence in different countries including Rwanda and Egypt where re-exporting opportunities are abundant Sultan bin Sulayem DP World group chairman and chief executive officer and chairman of ports customs and free zone corporation was quoted as saying in a Wam report. He added that the world is witnessing rapid changes and developments in trade and there currently more focus on fair trade on the agenda and external policy of countries like the US which means protective measures will be taken to curb the flow of goods from the European Union and China into the American market. b...
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Dubai-based global marine terminal operator DP World is planning to set up a logistics facility in Ethiopia to facilitate transportation of goods to landlocked countries in Africa said a report. DP World has signed a number of agreements with Ethiopia that will promote the friendly relationships with them. Business groups in Dubai can always benefit from our presence in different countries including Rwanda and Egypt where re-exporting opportunities are abundant Sultan bin Sulayem DP World group chairman and chief executive officer and chairman of ports customs and free zone corporation was quoted as saying in a Wam report. He added that the world is witnessing rapid changes and developments in trade and there currently more focus on fair trade on the agenda and external policy of countries like the US which means protective measures will be taken to curb the flow of goods from the European Union and China into the American market. b...
DP World is planning to set up a logistics facility in Ethiopia to facilitate transport of goods to landlocked countries in Africa said its top official. Sultan bin Sulayem DP World Group Chairman and CEO and Chairman of Ports Customs and Free Zone Corporation was speaking during an open dialogue with trade and business groups in Dubai. We have signed a number of agreements with Ethiopia that will promote our friendly relationships with them. Business groups in Dubai can always benefit from DP World s presence in different countries including Rwanda and Egypt where re-exporting opportunities are abundant noted Bin Sulayem. The world is witnessing rapid changes and developments in trade. There is now more focus on fair trade on the agenda and external policy of countries like the US which means protective measures will be taken to curb the flow of goods...
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DP World is planning to set up a logistics facility in Ethiopia to facilitate transport of goods to landlocked countries in Africa said its top official. Sultan bin Sulayem DP World Group Chairman and CEO and Chairman of Ports Customs and Free Zone Corporation was speaking during an open dialogue with trade and business groups in Dubai. We have signed a number of agreements with Ethiopia that will promote our friendly relationships with them. Business groups in Dubai can always benefit from DP World s presence in different countries including Rwanda and Egypt where re-exporting opportunities are abundant noted Bin Sulayem. The world is witnessing rapid changes and developments in trade. There is now more focus on fair trade on the agenda and external policy of countries like the US which means protective measures will be taken to curb the flow of goods...
Bahrain British Business Forum (BBBF) said its special interest group for legal professionals last night hosted a panel discussion in collaboration with Newton Legal Group to highlight the recent changes to the most widely used construction industry standard Fidic contract forms and their effect on the industry. Sumana Abdulkarim the senior associate at Newton Legal Group moderated the discussion held at the Capital Club Bahrain. The expert panel of leading legal and engineering practitioners were Paula Boast (Partner at Charles Russell Speechlys) Joanne Taqi (Partner at Norton Rose Fulbright) and Ian Lunt-Bell (Principal Engineer at Aecom) said a statement from BBBF. Leading experts discussed Fidic s new standard forms of contracts and the panel clarified the common themes to the changes in the different standard forms and their implications it added. The BBBF which was established in 1995 today boasts over...
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Bahrain British Business Forum (BBBF) said its special interest group for legal professionals last night hosted a panel discussion in collaboration with Newton Legal Group to highlight the recent changes to the most widely used construction industry standard Fidic contract forms and their effect on the industry. Sumana Abdulkarim the senior associate at Newton Legal Group moderated the discussion held at the Capital Club Bahrain. The expert panel of leading legal and engineering practitioners were Paula Boast (Partner at Charles Russell Speechlys) Joanne Taqi (Partner at Norton Rose Fulbright) and Ian Lunt-Bell (Principal Engineer at Aecom) said a statement from BBBF. Leading experts discussed Fidic s new standard forms of contracts and the panel clarified the common themes to the changes in the different standard forms and their implications it added. The BBBF which was established in 1995 today boasts over...
Amanat Holdings a top healthcare and education investment company has acquired the real estate assets of North London Collegiate School (NLCS) Dubai a premium baccalaureate curriculum school for Dh360 million ( 98 million). Amanat has purchased the real estate from PNC Investments the parent company of the Sobha Group. Additionally Amanat has committed up to Dh45 million ( 12.3 million) towards the school s future expansion plans. Located on a 38 000-sq-m plot in the Sobha Hartland development at Mohammed bin Rashid Al-Maktoum City NLCS Dubai s campus offers a wide range of amenities including eight science laboratories and state-of-the-art performing arts centre as well as an array of sporting facilities including tennis courts a cricket/rugby field and two indoor swimming pools. NLCS Dubai is the second overseas campus of NLCS a leading independent day school founded in 1850 and located in Edgware London. The Lon...
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Amanat Holdings a top healthcare and education investment company has acquired the real estate assets of North London Collegiate School (NLCS) Dubai a premium baccalaureate curriculum school for Dh360 million ( 98 million). Amanat has purchased the real estate from PNC Investments the parent company of the Sobha Group. Additionally Amanat has committed up to Dh45 million ( 12.3 million) towards the school s future expansion plans. Located on a 38 000-sq-m plot in the Sobha Hartland development at Mohammed bin Rashid Al-Maktoum City NLCS Dubai s campus offers a wide range of amenities including eight science laboratories and state-of-the-art performing arts centre as well as an array of sporting facilities including tennis courts a cricket/rugby field and two indoor swimming pools. NLCS Dubai is the second overseas campus of NLCS a leading independent day school founded in 1850 and located in Edgware London. The Lon...
Al-Futtaim Logistics has opened the second warehousing facility in Riyadh Saudi Arabia resulting in the local distribution centre scaling up a total of 15 000 sq m co-existing with its primary warehouse in Jeddah. The two facilities currently handle retail brands with categories including fashion footwear hardware DIY furniture and home appliances. The distribution centres are an extension of the Al-Futtaim company s 3PL solutions to bring brands and consumers within close proximity. The facilities are fully equipped with the latest web-enabled inventory technology providing visibility and reassurance to customers. Moreover it has best practice operational processes for products stored palletized shelved binned and bulk commodities. As per customer preferences inbounds are arranged via air sea and/or road options. Both warehouses are wi-fi enabled for online scanning which provides an accurate and real-time update on ...
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Al-Futtaim Logistics has opened the second warehousing facility in Riyadh Saudi Arabia resulting in the local distribution centre scaling up a total of 15 000 sq m co-existing with its primary warehouse in Jeddah. The two facilities currently handle retail brands with categories including fashion footwear hardware DIY furniture and home appliances. The distribution centres are an extension of the Al-Futtaim company s 3PL solutions to bring brands and consumers within close proximity. The facilities are fully equipped with the latest web-enabled inventory technology providing visibility and reassurance to customers. Moreover it has best practice operational processes for products stored palletized shelved binned and bulk commodities. As per customer preferences inbounds are arranged via air sea and/or road options. Both warehouses are wi-fi enabled for online scanning which provides an accurate and real-time update on ...
Abu Dhabi City Municipality (ADM) has called on companies operating in the building and construction sector to comply with the stipulations of the Abu Dhabi Occupational Safety and Health Centre (OSHAD) in an effort to ensure an appropriate and healthy environment suitable for all workers. It also called for taking measures to protect the life health and safety of workers said a Wam news agency report. Dr Huda Al Salmi director of environment health and safety at Abu Dhabi City Municipality honoured eight representatives of companies operating in the building and construction sector in recognition of their obtaining Abu Dhabi Occupational Safety and Health System Framework (OSHAD-SF) certificates and their fulfilment of all requisites of Abu Dhabi occupational safety and health standards. Dr Al Salmi called on all unregistered entities operating in the building and cons...
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Abu Dhabi City Municipality (ADM) has called on companies operating in the building and construction sector to comply with the stipulations of the Abu Dhabi Occupational Safety and Health Centre (OSHAD) in an effort to ensure an appropriate and healthy environment suitable for all workers. It also called for taking measures to protect the life health and safety of workers said a Wam news agency report. Dr Huda Al Salmi director of environment health and safety at Abu Dhabi City Municipality honoured eight representatives of companies operating in the building and construction sector in recognition of their obtaining Abu Dhabi Occupational Safety and Health System Framework (OSHAD-SF) certificates and their fulfilment of all requisites of Abu Dhabi occupational safety and health standards. Dr Al Salmi called on all unregistered entities operating in the building and cons...
US-based Infor a leading provider of industry-specific cloud applications has announced that Saudi Arabia-based Almajdouie Logistics Company a leading logistics service provider has deployed Infor SCE to enhance business agility as it poises for further growth. The project was successfully managed by Infor s global supply chain partner SNS a leading provider of supply chain consulting and software solutions in the Middle East Africa and Europe said a statement from the company. A leader in the logistics and supply chain industry in the region Almajdouie Logistics Company has more than 4 000 employees and over 2 million sq m of terminal and storage facilities across the GCC which move an average of 1.6 million tonnes of goods annually it said. As the need for increased operational efficiencies arose Almajdouie Logistics Company looked to improve the flexibility and scalability of its business and sought an inte...
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US-based Infor a leading provider of industry-specific cloud applications has announced that Saudi Arabia-based Almajdouie Logistics Company a leading logistics service provider has deployed Infor SCE to enhance business agility as it poises for further growth. The project was successfully managed by Infor s global supply chain partner SNS a leading provider of supply chain consulting and software solutions in the Middle East Africa and Europe said a statement from the company. A leader in the logistics and supply chain industry in the region Almajdouie Logistics Company has more than 4 000 employees and over 2 million sq m of terminal and storage facilities across the GCC which move an average of 1.6 million tonnes of goods annually it said. As the need for increased operational efficiencies arose Almajdouie Logistics Company looked to improve the flexibility and scalability of its business and sought an inte...
Bentley Systems Incorporated a leading global provider of comprehensive software solutions for advancing infrastructure has announced the acquisition of UK-based Synchro Software a leader (and the market creator) in 4D construction modeling software for scheduling and project management. The acquisition broadens Bentley s ProjectWise construction offerings - which already includes ConstructSim the leader for 4D construction modeling in project delivery of industrial plants. With construction project management in 4D benefits of BIM can extend throughout infrastructure project delivery and asset lifecycles as traditionally disconnected workflows become digital workflows. Synchro s strong growth since the introduction of Synchro PRO in 2007 has coincided with the burgeoning adoption of BIM for design workflows - which however stop short of considering construction planning scheduling and project management strate...
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Bentley Systems Incorporated a leading global provider of comprehensive software solutions for advancing infrastructure has announced the acquisition of UK-based Synchro Software a leader (and the market creator) in 4D construction modeling software for scheduling and project management. The acquisition broadens Bentley s ProjectWise construction offerings - which already includes ConstructSim the leader for 4D construction modeling in project delivery of industrial plants. With construction project management in 4D benefits of BIM can extend throughout infrastructure project delivery and asset lifecycles as traditionally disconnected workflows become digital workflows. Synchro s strong growth since the introduction of Synchro PRO in 2007 has coincided with the burgeoning adoption of BIM for design workflows - which however stop short of considering construction planning scheduling and project management strate...
Dubai-based Abraaj Group has sold its entire stake in Egypt s Orascom Construction for 52 million as the private equity firm seeks to restructure amid allegations of misused funds reported Bloomberg . Abraaj has been under pressure since February when some of its investors commissioned an audit to investigate the alleged mismanagement of money in its health-care fund said the report. The 5.4 per cent holding in Orascom Construction was sold at 8.30 per share stated the report citing an Abraaj statement on Nasdaq Dubai. The buyout firm which once managed almost 14 billion for institutions and supranational agencies from the US UK and other countries faces growing concerns about its viability and impending loan repayments said the report. Kuwait s Public Institution for Social Security last week filed a petition for the liquidation of the holding firm it added. ...
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Dubai-based Abraaj Group has sold its entire stake in Egypt s Orascom Construction for 52 million as the private equity firm seeks to restructure amid allegations of misused funds reported Bloomberg . Abraaj has been under pressure since February when some of its investors commissioned an audit to investigate the alleged mismanagement of money in its health-care fund said the report. The 5.4 per cent holding in Orascom Construction was sold at 8.30 per share stated the report citing an Abraaj statement on Nasdaq Dubai. The buyout firm which once managed almost 14 billion for institutions and supranational agencies from the US UK and other countries faces growing concerns about its viability and impending loan repayments said the report. Kuwait s Public Institution for Social Security last week filed a petition for the liquidation of the holding firm it added. ...
Kuwait s real estate sector witnessed a pick-up in real estate activity in the first quarter driven in particular by strong sales in March said a report. Sales reached KD767 million in the first quarter of which 45 per cent took place in March according to a report by National bank of Kuwait. The pickup at the end of the quarter was due to an increase in the number of transactions perhaps helped by one-off factors and a sales rush ahead of the traditionally slow Ramadan and summer periods coupled with a sharp rise in average transaction values in the investment sector it added. According to NBK the first quarter saw KD298 million of residential sales down 10 per cent year-on-year though the number of transactions rose 12.5 per cent y-o-y to 928. Higher activity was likely helped by lower prices possibly due to expectations of higher interest rates in the near-to-medium term it added. The top ...
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Kuwait s real estate sector witnessed a pick-up in real estate activity in the first quarter driven in particular by strong sales in March said a report. Sales reached KD767 million in the first quarter of which 45 per cent took place in March according to a report by National bank of Kuwait. The pickup at the end of the quarter was due to an increase in the number of transactions perhaps helped by one-off factors and a sales rush ahead of the traditionally slow Ramadan and summer periods coupled with a sharp rise in average transaction values in the investment sector it added. According to NBK the first quarter saw KD298 million of residential sales down 10 per cent year-on-year though the number of transactions rose 12.5 per cent y-o-y to 928. Higher activity was likely helped by lower prices possibly due to expectations of higher interest rates in the near-to-medium term it added. The top ...
Katara Hospitality a leading global hotel owner developer and operator based in Qatar has awarded Phase 2 construction works of Katara Towers Lusail City s future hospitality landmark to HBK Contracting. The announcement came during a signing ceremony between Katara Hospitality and HBK Contracting a leading construction firm operating in Qatar assigned to construct Katara Towers 36-storey cross-swords design MEP (back of the house) and First Fix (front of the house). The signing ceremony took place at The Ritz-Carlton Doha and was attended by Sheikh Nawaf bin Jassim bin Jabor Al-Thani chairman of Katara Hospitality and Sheikh Ali bin Hamad K. Al-Thani president of HBK Contracting. With today s Phase 2 awarding to HBK begins the next phase in Katara Hospitality s journey of developing the hospitality icon of Qatar said Katara Hospitality chairman Sheikh Nawaf bin Jassim bin Jabor Al-Thani. &...
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Katara Hospitality a leading global hotel owner developer and operator based in Qatar has awarded Phase 2 construction works of Katara Towers Lusail City s future hospitality landmark to HBK Contracting. The announcement came during a signing ceremony between Katara Hospitality and HBK Contracting a leading construction firm operating in Qatar assigned to construct Katara Towers 36-storey cross-swords design MEP (back of the house) and First Fix (front of the house). The signing ceremony took place at The Ritz-Carlton Doha and was attended by Sheikh Nawaf bin Jassim bin Jabor Al-Thani chairman of Katara Hospitality and Sheikh Ali bin Hamad K. Al-Thani president of HBK Contracting. With today s Phase 2 awarding to HBK begins the next phase in Katara Hospitality s journey of developing the hospitality icon of Qatar said Katara Hospitality chairman Sheikh Nawaf bin Jassim bin Jabor Al-Thani. &...
A fire broke out at a 29-storey under construction building in Seef district of Bahrain on Friday which was quickly brought under control by the civil defence personnel without reports of any injuries. The incident happened on Friday morning fire started on the top floor and because of unstable weather the flames spread to the fourth floor and fell on the nearby building and the front road reported BNA. Deputy Director-General of the Civil Defence said that the case was reported at 06:26 and the team reached the site within three minutes. No injuries were reported while investigation will continue to determine the reason behind the fire. After the fire was put out the civil defence personnel began the cooling operation it added. ...
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A fire broke out at a 29-storey under construction building in Seef district of Bahrain on Friday which was quickly brought under control by the civil defence personnel without reports of any injuries. The incident happened on Friday morning fire started on the top floor and because of unstable weather the flames spread to the fourth floor and fell on the nearby building and the front road reported BNA. Deputy Director-General of the Civil Defence said that the case was reported at 06:26 and the team reached the site within three minutes. No injuries were reported while investigation will continue to determine the reason behind the fire. After the fire was put out the civil defence personnel began the cooling operation it added. ...
Sharjah government has constructed a number of mosques and accommodation buildings for imams (prayer leaders) and muazzins (men who call for prayers) across the emirate at an investment of Dh100 million ( 27.2 million) said a report. The work was completed by Sharjah Directorate of Public Works (SDPW) in cooperation with the Directorate of Islamic Affairs in the UAE emirate. Each of these mosques has a capacity to accommodate 250 to 3 000 worshippers reported state news agency Wam. Engineer Ali bin Shaheen Al Suwaidi the chairman of SDPW said this come in line with the directives of HH Sheikh Dr Sultan bin Mohamed Al Qasimi Supreme Council Member and Ruler of Sharjah to build several model mosques that are inspired by the Islamic style and compatible with the urban development of Sharjah. The SDPW has implemented projects for the construction and maintenance of a number of mosques some of which have been completed and o...
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Sharjah government has constructed a number of mosques and accommodation buildings for imams (prayer leaders) and muazzins (men who call for prayers) across the emirate at an investment of Dh100 million ( 27.2 million) said a report. The work was completed by Sharjah Directorate of Public Works (SDPW) in cooperation with the Directorate of Islamic Affairs in the UAE emirate. Each of these mosques has a capacity to accommodate 250 to 3 000 worshippers reported state news agency Wam. Engineer Ali bin Shaheen Al Suwaidi the chairman of SDPW said this come in line with the directives of HH Sheikh Dr Sultan bin Mohamed Al Qasimi Supreme Council Member and Ruler of Sharjah to build several model mosques that are inspired by the Islamic style and compatible with the urban development of Sharjah. The SDPW has implemented projects for the construction and maintenance of a number of mosques some of which have been completed and o...
The Logistics District at Dubai South has launched Masary a new smart electronic system that reduces the transit time of goods and vehicles said a report. The new system is considered the first-of-its-kind in the region and will positively impact the traffic of goods and vehicles that move through the district reported state news agency Wam. The Masary system is part of the district s efforts to adopt new technologies to facilitate businesses which is in line with Dubai s government policy on digital transformation that aims to enhance the emirate s status as a leading logistics services centre in the region it said. Masary is considered to be a smart safe and innovative system that is digitally connected to Dubai Police Dubai Customs and other relevant government departments. The system is characterised by its speedy process while issuing permits by reducing the time it takes from four hours to a mere 10 minute...
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The Logistics District at Dubai South has launched Masary a new smart electronic system that reduces the transit time of goods and vehicles said a report. The new system is considered the first-of-its-kind in the region and will positively impact the traffic of goods and vehicles that move through the district reported state news agency Wam. The Masary system is part of the district s efforts to adopt new technologies to facilitate businesses which is in line with Dubai s government policy on digital transformation that aims to enhance the emirate s status as a leading logistics services centre in the region it said. Masary is considered to be a smart safe and innovative system that is digitally connected to Dubai Police Dubai Customs and other relevant government departments. The system is characterised by its speedy process while issuing permits by reducing the time it takes from four hours to a mere 10 minute...
Dubai Investments a leading diversified investments company listed on the Dubai Financial Market has announced that its wholly-owned real estate subsidiary has won the prestigious ISO 9001:2015 certification for its quality management system. The ISO certification received from the Russian Register and IQ Net international certification network is in recognition of Dubai Investments Real Estate Company s (DIRC) quality management and organisational excellence in real estate development purchase and sale of real estate leasing and management of self-owned property and property guard services. DIRC General Manager Obaid Mohammed Al Salami said: The ISO 9001 certification for DIRC is a major endorsement of the company s processes and systems in line with the international standards in the real estate sector. The certification recognizes and validates DIRC s achievements as well as its com...
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Dubai Investments a leading diversified investments company listed on the Dubai Financial Market has announced that its wholly-owned real estate subsidiary has won the prestigious ISO 9001:2015 certification for its quality management system. The ISO certification received from the Russian Register and IQ Net international certification network is in recognition of Dubai Investments Real Estate Company s (DIRC) quality management and organisational excellence in real estate development purchase and sale of real estate leasing and management of self-owned property and property guard services. DIRC General Manager Obaid Mohammed Al Salami said: The ISO 9001 certification for DIRC is a major endorsement of the company s processes and systems in line with the international standards in the real estate sector. The certification recognizes and validates DIRC s achievements as well as its com...
The American University of Sharjah (AUS) said it is planning to introduce a new course - the Master of Science in Construction Management (MSCM) - in response to a big demand from the region. The approval for the MSCM course was given by HH Dr Sheikh Sultan bin Mohammed Al Qasimi Supreme Council Member Ruler of Sharjah and President of American University of Sharjah (AUS) at a key meeting of the university s Board of Trustees held yesterday reported state news agency Wam . As the Chair of the AUS Board of Trustees the Sharjah Ruler also reviewed and approved a number of other important resolutions presented during the meeting and expressed his satisfaction at the growth and development of the university and the progress it is making with regards to its future plans. Speaking on the occasion Chancellor Dr Bjorn Kjerfve said: As AUS moves towards realising Sheikh Sultan s vision of becoming the region s ...
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The American University of Sharjah (AUS) said it is planning to introduce a new course - the Master of Science in Construction Management (MSCM) - in response to a big demand from the region. The approval for the MSCM course was given by HH Dr Sheikh Sultan bin Mohammed Al Qasimi Supreme Council Member Ruler of Sharjah and President of American University of Sharjah (AUS) at a key meeting of the university s Board of Trustees held yesterday reported state news agency Wam . As the Chair of the AUS Board of Trustees the Sharjah Ruler also reviewed and approved a number of other important resolutions presented during the meeting and expressed his satisfaction at the growth and development of the university and the progress it is making with regards to its future plans. Speaking on the occasion Chancellor Dr Bjorn Kjerfve said: As AUS moves towards realising Sheikh Sultan s vision of becoming the region s ...
UAE-based investors are buying new assets more regularly with 32 per cent looking to make a new investment every quarter said a recent survey by Select Property Group a leading British developer retailer and operator. The new research commissioned by Select Property Group reveals the current investment trends and attitudes in the GCC. The YouGov study undertaken by individuals across the region who currently or have previously engaged in investing explored themes including: what assets those in the GCC had previously invested in; what future investments appeal most and in specific relation to property investment how popular overseas assets are. The findings showed that as a whole the GCC exhibits solid knowledge of the investment landscape with almost two-thirds (63 per cent) of investors describing themselves as having some or a strong level of investment knowledge. In terms of assets real estate is undoubted...
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UAE-based investors are buying new assets more regularly with 32 per cent looking to make a new investment every quarter said a recent survey by Select Property Group a leading British developer retailer and operator. The new research commissioned by Select Property Group reveals the current investment trends and attitudes in the GCC. The YouGov study undertaken by individuals across the region who currently or have previously engaged in investing explored themes including: what assets those in the GCC had previously invested in; what future investments appeal most and in specific relation to property investment how popular overseas assets are. The findings showed that as a whole the GCC exhibits solid knowledge of the investment landscape with almost two-thirds (63 per cent) of investors describing themselves as having some or a strong level of investment knowledge. In terms of assets real estate is undoubted...
Qatari firm HBK Contracting Company has been awarded the main works contract for Ras Abu Aboud Stadium in Doha one of the major venues of 2022 Fifa World Cup. The 40 000-seat facility will be built using modular building blocks thus making it the first fully demountable Fifa stadium in history said a statement from The Supreme Committee for Delivery & Legacy (SC) the organisation responsible for delivering the infrastructure need for the mega event. Located on a 450 000-sq-m waterfront site with exceptional views over Doha s skyline the stadium will host matches up to the quarter-finals in 2022 it stated. Hilal Al Kuwari the chairman of the SC s technical delivery office said: I am delighted to see a Qatari company taking the lead on this project and happy that main works are already under way. The appointment of a local company to deliver this innovative world-first stadium is in line with our commitment ...
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Qatari firm HBK Contracting Company has been awarded the main works contract for Ras Abu Aboud Stadium in Doha one of the major venues of 2022 Fifa World Cup. The 40 000-seat facility will be built using modular building blocks thus making it the first fully demountable Fifa stadium in history said a statement from The Supreme Committee for Delivery & Legacy (SC) the organisation responsible for delivering the infrastructure need for the mega event. Located on a 450 000-sq-m waterfront site with exceptional views over Doha s skyline the stadium will host matches up to the quarter-finals in 2022 it stated. Hilal Al Kuwari the chairman of the SC s technical delivery office said: I am delighted to see a Qatari company taking the lead on this project and happy that main works are already under way. The appointment of a local company to deliver this innovative world-first stadium is in line with our commitment ...
Dubai Creek Tower a global icon being built by leading developer Emaar in the heart of the 6-sq-km Dubai Creek Harbour has completed concrete placement for the pile cap two months ahead of its scheduled completion. The concrete pouring began in September last year and reached over 50 per cent completion in January 2018 said a statement from Emaar. With this milestone 50 000 cu m of concrete has been poured weighing about 120 000 tonnes or the weight of the CN Tower in Canada. About 16 000 tonnes of steel reinforcement has also been placed just over twice the weight of the Eiffel Tower it stated. Dubai Creek Tower s pile cap is an approximately 20-m thick multi-layered tiered reinforced concrete top that covers and transfers the load to the foundation barrettes. In October 2016 HH Sheikh Mohammed marked the ground-breaking of the tower with the foundation work accomplished in a record time. The tower ...
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Dubai Creek Tower a global icon being built by leading developer Emaar in the heart of the 6-sq-km Dubai Creek Harbour has completed concrete placement for the pile cap two months ahead of its scheduled completion. The concrete pouring began in September last year and reached over 50 per cent completion in January 2018 said a statement from Emaar. With this milestone 50 000 cu m of concrete has been poured weighing about 120 000 tonnes or the weight of the CN Tower in Canada. About 16 000 tonnes of steel reinforcement has also been placed just over twice the weight of the Eiffel Tower it stated. Dubai Creek Tower s pile cap is an approximately 20-m thick multi-layered tiered reinforced concrete top that covers and transfers the load to the foundation barrettes. In October 2016 HH Sheikh Mohammed marked the ground-breaking of the tower with the foundation work accomplished in a record time. The tower ...
Saudi Arabia-based LSC Warehousing and Logistics Services was named 2018 KSA Warehousing Service Provider of the Year at the 2018 Frost & Sullivan Middle East Best Practices Awards Banquet held earlier this month in Dubai UAE. LSC Warehousing and Logistics Services provides a comprehensive array of best in class services as a leading warehousing and logistics services provider in the kingdom. Its broad ranging services address client needs across transportation warehousing freight management customs compliance and project logistics solutions. The company provides customised services to its clients on a need basis and tailored to specifications that enhance the widest possible range of business models and profiles it said. The company stated: We are truly honoured to win the award and be recognised in this category by Frost & Sullivan this year. The award underlines our commitment as an organisation to prov...
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Saudi Arabia-based LSC Warehousing and Logistics Services was named 2018 KSA Warehousing Service Provider of the Year at the 2018 Frost & Sullivan Middle East Best Practices Awards Banquet held earlier this month in Dubai UAE. LSC Warehousing and Logistics Services provides a comprehensive array of best in class services as a leading warehousing and logistics services provider in the kingdom. Its broad ranging services address client needs across transportation warehousing freight management customs compliance and project logistics solutions. The company provides customised services to its clients on a need basis and tailored to specifications that enhance the widest possible range of business models and profiles it said. The company stated: We are truly honoured to win the award and be recognised in this category by Frost & Sullivan this year. The award underlines our commitment as an organisation to prov...
Kuwait-based Alargan International Real Estate Company has announced plans to develop commercial and residential projects worth KD60 million ( 199 million) in the Moroccan real estate market. These projects will come up on a 10 000 sq m area in the city of Casablanca reported Al Qabas daily citing Alargan s vice chairman and CEO Khaled Al Mashaan. The Kuwaiti firm will also provide long-stay hotel rooms and offices Al Mashaan said. The company is also eyeing both the Indian and Egyptian real estate markets for big investment as part of its regional expansion strategy said the report. ...
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Kuwait-based Alargan International Real Estate Company has announced plans to develop commercial and residential projects worth KD60 million ( 199 million) in the Moroccan real estate market. These projects will come up on a 10 000 sq m area in the city of Casablanca reported Al Qabas daily citing Alargan s vice chairman and CEO Khaled Al Mashaan. The Kuwaiti firm will also provide long-stay hotel rooms and offices Al Mashaan said. The company is also eyeing both the Indian and Egyptian real estate markets for big investment as part of its regional expansion strategy said the report. ...
Saudi Arabia has implemented a new mosque construction code as part of its efforts to streamline the building of mosques in the kingdom according to a report. This code will be vital for the design lifespan and operating costs of monuments reported Arab News citing Prince Sultan bin Salman the president of the Saudi Commission for Tourism and National Heritage (SCTH). Prince Sultan highlighted the importance of establishing the code which is considered an important stage in the construction of mosques and the culmination of partnership efforts with the Ministry of Islamic Affairs. The new code will help develop the design of mosques and improve their architectural quality stated the top official. The code is a main element in the efforts ... to serve the holy monuments. It will consider the cultural and urban aspect of each region. It also sets an outline for mosque architecture concerned with many s...
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Saudi Arabia has implemented a new mosque construction code as part of its efforts to streamline the building of mosques in the kingdom according to a report. This code will be vital for the design lifespan and operating costs of monuments reported Arab News citing Prince Sultan bin Salman the president of the Saudi Commission for Tourism and National Heritage (SCTH). Prince Sultan highlighted the importance of establishing the code which is considered an important stage in the construction of mosques and the culmination of partnership efforts with the Ministry of Islamic Affairs. The new code will help develop the design of mosques and improve their architectural quality stated the top official. The code is a main element in the efforts ... to serve the holy monuments. It will consider the cultural and urban aspect of each region. It also sets an outline for mosque architecture concerned with many s...
HLG Contracting one of the leading diversified international contractors in the Middle East region has announced its rebranding to BIC Contracting effective immediately. The new name signifies its ongoing strength and commitment in building and infrastructure construction across the Middle East region said a statement from the comany. BIC Contracting CEO and Managing Director Moustafa Fahour Oam said: This new name signifies our company s core strength and focus on being the building and infrastructure contracting company of choice; combining international expertise and local experience. Refreshing our focus reflects our commitment to delivering strong outcomes for our clients and safe working environments for our people as we look for opportunities that leverage our extensive track record and strong commitment to the region he added. -TradeArabia News Service ...
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HLG Contracting one of the leading diversified international contractors in the Middle East region has announced its rebranding to BIC Contracting effective immediately. The new name signifies its ongoing strength and commitment in building and infrastructure construction across the Middle East region said a statement from the comany. BIC Contracting CEO and Managing Director Moustafa Fahour Oam said: This new name signifies our company s core strength and focus on being the building and infrastructure contracting company of choice; combining international expertise and local experience. Refreshing our focus reflects our commitment to delivering strong outcomes for our clients and safe working environments for our people as we look for opportunities that leverage our extensive track record and strong commitment to the region he added. -TradeArabia News Service ...
With economic growth estimated to have reached 3 per cent in 2017 following expansion of 3.2 per cent in 2016 Bahrain s growth is the strongest amongst the GCC states. The kingdom s retail and hospitality sectors remain key drivers with the government actively driving initiatives to bring in more investors and diversify the country s real estate market said a report by leading property expert Cluttons. The retail market continues to be one of the kingdom s most stable sectors as evidenced by the recent fourth edition of the Shop Bahrain festival held by the Bahrain Tourism and Exhibitions Authority (BTEA) stated Cluttons in its Bahrain Spring 2018 Property Market Outlook. The event registered a record number of transactions totalling BD19 million ( 50 million) from 145 000 transactions compared to BD8 million ( 21 million) from 130 000 transactions last year. This has been matc...
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With economic growth estimated to have reached 3 per cent in 2017 following expansion of 3.2 per cent in 2016 Bahrain s growth is the strongest amongst the GCC states. The kingdom s retail and hospitality sectors remain key drivers with the government actively driving initiatives to bring in more investors and diversify the country s real estate market said a report by leading property expert Cluttons. The retail market continues to be one of the kingdom s most stable sectors as evidenced by the recent fourth edition of the Shop Bahrain festival held by the Bahrain Tourism and Exhibitions Authority (BTEA) stated Cluttons in its Bahrain Spring 2018 Property Market Outlook. The event registered a record number of transactions totalling BD19 million ( 50 million) from 145 000 transactions compared to BD8 million ( 21 million) from 130 000 transactions last year. This has been matc...
Bahrain s Works Municipalities Affairs and Urban Planning Ministry has issued new construction regulations in a clampdown on violations in residential areas across the kingdom reported the Gulf Daily News our sister publication. For further details visit https://www.gdnonline.com ...
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Bahrain s Works Municipalities Affairs and Urban Planning Ministry has issued new construction regulations in a clampdown on violations in residential areas across the kingdom reported the Gulf Daily News our sister publication. For further details visit https://www.gdnonline.com ...
The Middle East will see the flattest increase in the cost of construction globally this year as the effect of recovering oil prices takes time to translate into increased investment according to new research from global professional services firm Turner & Townsend. Against average construction cost inflation worldwide of 4.3 per cent Oman s capital Muscat will see just a one per cent rise in the price of construction this year while the UAE will see two per cent. However these figures are marginally higher than 2017 when Muscat was one of only two markets surveyed to experience a fall in construction costs at -1 per cent stated Turner & Townsend in its International Construction Market Survey 2018. The survey brings together data and experience from 46 markets worldwide. It reveals that the top five most expensive places to build are New York San Francisco Hong Kong Zurich and London. The UAE at 1 455 per sq m ...
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The Middle East will see the flattest increase in the cost of construction globally this year as the effect of recovering oil prices takes time to translate into increased investment according to new research from global professional services firm Turner & Townsend. Against average construction cost inflation worldwide of 4.3 per cent Oman s capital Muscat will see just a one per cent rise in the price of construction this year while the UAE will see two per cent. However these figures are marginally higher than 2017 when Muscat was one of only two markets surveyed to experience a fall in construction costs at -1 per cent stated Turner & Townsend in its International Construction Market Survey 2018. The survey brings together data and experience from 46 markets worldwide. It reveals that the top five most expensive places to build are New York San Francisco Hong Kong Zurich and London. The UAE at 1 455 per sq m ...
Ensinger a leading international plastics processor company has invested in extending its production and logistics facilities at its German site in Cham which was put into operation 10 years ago. The new building plans are the second construction project in the branch factory. The costs for the new buildings and all infrastructure measures will amount to around 40 million ( 47.16 million) in total said a statement. Miebach Consulting supported Ensinger s expansion project by designing the site masterplan as well as the material flow processes and assisted Ensinger in tendering and awarding the material handling equipment it said. Furthermore Miebach conducted in the beginning of the project an as-is analysis and developed the future scenario for the site including a detailed analysis of the development in different product segments it added. In logistics an improved space utilisation by approximately 3...
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Ensinger a leading international plastics processor company has invested in extending its production and logistics facilities at its German site in Cham which was put into operation 10 years ago. The new building plans are the second construction project in the branch factory. The costs for the new buildings and all infrastructure measures will amount to around 40 million ( 47.16 million) in total said a statement. Miebach Consulting supported Ensinger s expansion project by designing the site masterplan as well as the material flow processes and assisted Ensinger in tendering and awarding the material handling equipment it said. Furthermore Miebach conducted in the beginning of the project an as-is analysis and developed the future scenario for the site including a detailed analysis of the development in different product segments it added. In logistics an improved space utilisation by approximately 3...
Kale Logistics Solutions a leading IT solutions provider for the logistics industry recently announced its collaboration with India-based Cybage a technology-consulting organisation specialising in outsourced product engineering services. Through this collaboration both the companies wish to leverage their technology and business acumen respectively to explore markets and grow business across the warehouse transportation and allied verticals said a statement. Both the companies will be working in tandem to ensure that the said solutions are positioned vended implanted and serviced in the target markets efficiently it said. The focus will be on exploring markets for providing IT solutions to warehousing transportation and allied functions it added. Kale Logistics is already a well- known brand in the industry for their extensive domain knowledge and technical expertise. Their enterprise solutions for warehousin...
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Kale Logistics Solutions a leading IT solutions provider for the logistics industry recently announced its collaboration with India-based Cybage a technology-consulting organisation specialising in outsourced product engineering services. Through this collaboration both the companies wish to leverage their technology and business acumen respectively to explore markets and grow business across the warehouse transportation and allied verticals said a statement. Both the companies will be working in tandem to ensure that the said solutions are positioned vended implanted and serviced in the target markets efficiently it said. The focus will be on exploring markets for providing IT solutions to warehousing transportation and allied functions it added. Kale Logistics is already a well- known brand in the industry for their extensive domain knowledge and technical expertise. Their enterprise solutions for warehousin...
Abu Dhabi Department of Urban Planning and Municipalities and Abu Dhabi Civil Defence signed today an agreement to further bolster their efforts aimed at providing integrated services in line with Abu Dhabi Plan. The memorandum of understanding (MoU) was signed with Major General Mohammed Khalfan Al Rumaithi commander-in-chief of Abu Dhabi Police and Falah Mohamed Al Ahbabi chairman of Department of Urban Planning and Municipalities in attendance reported Emirates news agency Wam . As the per the agreement the two parties will form a joint technical team to review all site plans with the ultimate objective of following the best international practices in providing excellent and hassle-free government services to developers as well as owners. The step is also in line with the vision of the leadership with regard to reducing time for issuing construction licenses. This is in addition to making use of the two departments ...
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Abu Dhabi Department of Urban Planning and Municipalities and Abu Dhabi Civil Defence signed today an agreement to further bolster their efforts aimed at providing integrated services in line with Abu Dhabi Plan. The memorandum of understanding (MoU) was signed with Major General Mohammed Khalfan Al Rumaithi commander-in-chief of Abu Dhabi Police and Falah Mohamed Al Ahbabi chairman of Department of Urban Planning and Municipalities in attendance reported Emirates news agency Wam . As the per the agreement the two parties will form a joint technical team to review all site plans with the ultimate objective of following the best international practices in providing excellent and hassle-free government services to developers as well as owners. The step is also in line with the vision of the leadership with regard to reducing time for issuing construction licenses. This is in addition to making use of the two departments ...
Global heavy lifting and transport specialist Mammoet said it has been contracted by Turkish builder Limak Insaat to carry out the transportation and installation works for the new 4.3-billion terminal project at Kuwait International Airport. A leading player in the region s construction sector Limak Insaat is constructing the terminal on behalf of the Kuwait Ministry of Public Works. The state-of-the-art terminal will significantly increase the capacity of the airport and establish a new regional air hub in the Gulf regionm said the statement from Mammoet. Replacing the existing terminal this world class building will increase passenger capacity to 25 million per year it added. Designed to provide the highest level of passenger comfort the terminal has a trefoil plan comprising three symmetrical wings of departure gates. Each facade spans 1.2 km and all extend from a 25-m-high central space. ...
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Global heavy lifting and transport specialist Mammoet said it has been contracted by Turkish builder Limak Insaat to carry out the transportation and installation works for the new 4.3-billion terminal project at Kuwait International Airport. A leading player in the region s construction sector Limak Insaat is constructing the terminal on behalf of the Kuwait Ministry of Public Works. The state-of-the-art terminal will significantly increase the capacity of the airport and establish a new regional air hub in the Gulf regionm said the statement from Mammoet. Replacing the existing terminal this world class building will increase passenger capacity to 25 million per year it added. Designed to provide the highest level of passenger comfort the terminal has a trefoil plan comprising three symmetrical wings of departure gates. Each facade spans 1.2 km and all extend from a 25-m-high central space. ...
Hotel supply in the Middle East and Africa continues to grow as the region has registered a total of 530 properties with 141 400 rooms currently under construction. Of the total about 386 hotels (114 456 rooms) are in the Middle East while the rest are in the African region the April Pipeline Report from STR Global showed. Dubai topped the MEA list for the largest number of rooms under construction with the total put at 41 846 rooms. Two other markets reported more than 10 000 rooms under construction: Makkah Saudi Arabia (25 619 rooms) and Doha Qatar(10 228 rooms). The Middle East room construction total represents a 36.3 per cent increase compared with April 2017. The report also highlighted projects in the final planning and planning stages. A total of 28 044 rooms in 115 hotels (up 29.1 per cent year-over-year) were registered in the final planning stage and 47 797 rooms in 177 properties (up...
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Hotel supply in the Middle East and Africa continues to grow as the region has registered a total of 530 properties with 141 400 rooms currently under construction. Of the total about 386 hotels (114 456 rooms) are in the Middle East while the rest are in the African region the April Pipeline Report from STR Global showed. Dubai topped the MEA list for the largest number of rooms under construction with the total put at 41 846 rooms. Two other markets reported more than 10 000 rooms under construction: Makkah Saudi Arabia (25 619 rooms) and Doha Qatar(10 228 rooms). The Middle East room construction total represents a 36.3 per cent increase compared with April 2017. The report also highlighted projects in the final planning and planning stages. A total of 28 044 rooms in 115 hotels (up 29.1 per cent year-over-year) were registered in the final planning stage and 47 797 rooms in 177 properties (up...
Access World Logistics a joint venture between RHS Group Dubai and Switzerland-based Access World has inaugurated a state-of-the-art third party logistics and warehousing facility in the Jebel Ali Free Zone (Jafza). The facility was built over a 40 000-sq-m plot with a total investment of about Dh40 million ( 10.89 million) said a statement. The facility with a storage capacity in excess of 100 000 freight tonnes of multiple products has a 15 200 sq m covered warehouse with very narrow aisle (VNA) racking systems as well as bulk-stowage space and air-conditioned (220C ) as well as ambient-temperature warehousing space plus an open-storage yard of about 7 500 sq m it said. The fast-track project was completed in less than 10 months from the ground-breaking which was held in July. The logistics company is also in the process of commissioning a 1 MWp roof-top PV Panel system to meet most of its power requirements through s...
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Access World Logistics a joint venture between RHS Group Dubai and Switzerland-based Access World has inaugurated a state-of-the-art third party logistics and warehousing facility in the Jebel Ali Free Zone (Jafza). The facility was built over a 40 000-sq-m plot with a total investment of about Dh40 million ( 10.89 million) said a statement. The facility with a storage capacity in excess of 100 000 freight tonnes of multiple products has a 15 200 sq m covered warehouse with very narrow aisle (VNA) racking systems as well as bulk-stowage space and air-conditioned (220C ) as well as ambient-temperature warehousing space plus an open-storage yard of about 7 500 sq m it said. The fast-track project was completed in less than 10 months from the ground-breaking which was held in July. The logistics company is also in the process of commissioning a 1 MWp roof-top PV Panel system to meet most of its power requirements through s...
GAC Dubai a leading provider of shipping logistics and marine services has opened its newest contract logistics facility in the Logistics District of Dubai South. The new facility adds to the company s existing contract logistics capacity and complements established facilities in the Jebel Ali and Dubai Airport Free Zones bringing total capacity in the Emirate to over 170 000 pallet positions dedicated to customers active in the local and regional markets said a statement. The 45 900 pallet two-chamber temperature- and humidity-controlled facility is designed to handle a diverse range of product categories including fast moving consumer goods (FMCG) food and beverage beauty products and dangerous goods (DG) of classes 2 3 5.1 and 8 it said. It also features a 2 400-sq-m dedicated value-added-services (VAS) facility offering an extensive range of value-added services to meet customers requirements and inte...
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GAC Dubai a leading provider of shipping logistics and marine services has opened its newest contract logistics facility in the Logistics District of Dubai South. The new facility adds to the company s existing contract logistics capacity and complements established facilities in the Jebel Ali and Dubai Airport Free Zones bringing total capacity in the Emirate to over 170 000 pallet positions dedicated to customers active in the local and regional markets said a statement. The 45 900 pallet two-chamber temperature- and humidity-controlled facility is designed to handle a diverse range of product categories including fast moving consumer goods (FMCG) food and beverage beauty products and dangerous goods (DG) of classes 2 3 5.1 and 8 it said. It also features a 2 400-sq-m dedicated value-added-services (VAS) facility offering an extensive range of value-added services to meet customers requirements and inte...
Buildeey Tech - FZE a Dubai-based company has successfully launched the first and only integrated online platform for construction-related services in the UAE. This unique platform will provide a full range of building services both on its website and through a free mobile app named Buildeey (available on iOS and Android devices). Buildeey is an online interactive platform that will connect customers and professionals from all building fields including but not limited to engineering construction electrical plumbing cladding maintenance furnishing landscaping wooden metal and glass-work services said a statement from the company. It will bring together service providers producers and consumers from anywhere in the globe and provide an avenue for them to communicate directly in a click of a button! Here they will be able to negotiate conclude sale and purchases draft and finalize contracting agreements ...
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Buildeey Tech - FZE a Dubai-based company has successfully launched the first and only integrated online platform for construction-related services in the UAE. This unique platform will provide a full range of building services both on its website and through a free mobile app named Buildeey (available on iOS and Android devices). Buildeey is an online interactive platform that will connect customers and professionals from all building fields including but not limited to engineering construction electrical plumbing cladding maintenance furnishing landscaping wooden metal and glass-work services said a statement from the company. It will bring together service providers producers and consumers from anywhere in the globe and provide an avenue for them to communicate directly in a click of a button! Here they will be able to negotiate conclude sale and purchases draft and finalize contracting agreements ...
Shuaa Capital the UAE-based integrated financial services group and Jabal Omar Development Company (JODC) one of the largest publicly-listed real estate companies in Saudi Arabia have signed an MoU to launch and manage real estate investment vehicles in the kingdom. The agreement comes following the recent MoU between Jabal Omar Development and ADFG the largest shareholder in Shuaa Capital to explore opportunities for collaboration and partnerships associated with new developments in Makkah and throughout Saudi Arabia. This deal will see both Shuaa Capital and Jabal Omar Development seek avenues of cooperation towards the creation and management of a set of strategic real estate funds directed towards managing the development and expansion of centrally located real estate hotspots across Saudi Arabia. Through its well-established subsidiary Shuaa Capital Saudi Arabia (SCSA) licensed by the Capital Market Authority since 2008 Shuaa...
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Shuaa Capital the UAE-based integrated financial services group and Jabal Omar Development Company (JODC) one of the largest publicly-listed real estate companies in Saudi Arabia have signed an MoU to launch and manage real estate investment vehicles in the kingdom. The agreement comes following the recent MoU between Jabal Omar Development and ADFG the largest shareholder in Shuaa Capital to explore opportunities for collaboration and partnerships associated with new developments in Makkah and throughout Saudi Arabia. This deal will see both Shuaa Capital and Jabal Omar Development seek avenues of cooperation towards the creation and management of a set of strategic real estate funds directed towards managing the development and expansion of centrally located real estate hotspots across Saudi Arabia. Through its well-established subsidiary Shuaa Capital Saudi Arabia (SCSA) licensed by the Capital Market Authority since 2008 Shuaa...
The construction sector in Oman is witnessing robust activities with the value of the total 2 410 active projects surging to over 190 billion in April according to a recent study. Among these 1 840 projects worth 61 billion are urban construction projects while 70 projects worth 39 billion are in the oil and gas sector while 150 projects worth 32 billion are transport projects stated the study by BNC Network a key project intelligence provider in the Mena region. The report comes as delegates gathered for Windorex Glass and Aluminium Oman trade show yesterday (May 7). The 3rd edition of this international vent seeks to build on the overwhelming success of the previous version attracting more than 5 400 industry professionals. With crude oil price hovering around 70 per barrel the GCC countries including Oman could see an increase in government reserves part of the windfall is then expected to be invested in large inf...
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The construction sector in Oman is witnessing robust activities with the value of the total 2 410 active projects surging to over 190 billion in April according to a recent study. Among these 1 840 projects worth 61 billion are urban construction projects while 70 projects worth 39 billion are in the oil and gas sector while 150 projects worth 32 billion are transport projects stated the study by BNC Network a key project intelligence provider in the Mena region. The report comes as delegates gathered for Windorex Glass and Aluminium Oman trade show yesterday (May 7). The 3rd edition of this international vent seeks to build on the overwhelming success of the previous version attracting more than 5 400 industry professionals. With crude oil price hovering around 70 per barrel the GCC countries including Oman could see an increase in government reserves part of the windfall is then expected to be invested in large inf...
Kale Logistics Solutions a trusted IT Logistics partner for Fortune 500 companies worldwide revealed that its Saudi Arabian client Al-Gosaibi has gone live on Capella a state-of-the art CFS/ICD management system. Al-Gosaibi is a well-known brand associated with versatile businesses like shipping banking manufacturing services trading and agriculture among many others said a statement. Over the years Al-Gosaibi has also developed and branched out in specialised shipping vertical such as agency stevedoring inland container transport general cargo forwarding import/export brokerage and the repair/maintenance of tug/service boats. It is one of kingdom s leading shipping agencies providing shipping services throughout the country s ports it said. Vineet Malhotra director Kale Logistics Solutions said: Saudi Arabia is emerging as the next-place-to-be for transportation and logistics industry and our so...
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Kale Logistics Solutions a trusted IT Logistics partner for Fortune 500 companies worldwide revealed that its Saudi Arabian client Al-Gosaibi has gone live on Capella a state-of-the art CFS/ICD management system. Al-Gosaibi is a well-known brand associated with versatile businesses like shipping banking manufacturing services trading and agriculture among many others said a statement. Over the years Al-Gosaibi has also developed and branched out in specialised shipping vertical such as agency stevedoring inland container transport general cargo forwarding import/export brokerage and the repair/maintenance of tug/service boats. It is one of kingdom s leading shipping agencies providing shipping services throughout the country s ports it said. Vineet Malhotra director Kale Logistics Solutions said: Saudi Arabia is emerging as the next-place-to-be for transportation and logistics industry and our so...
Aldar Properties a leading property development company in Abu Dhabi UAE said it has reached an agreement with Tourism Development & Investment Company (TDIC) to acquire a portfolio of prime real estate assets worth Dh3.7 billion ( 1.01 billion) in one of the largest real estate acquisitions in the country s history. The Emirati developer has acquired assets located in key destinations with a focus on Saadiyat Island. It includes 14 operating assets within various sectors ranging from hospitality retail residential education and infrastructure in addition to a selection of prime strategic land plots and projects under development on that island said a statement from the company. The acquisition of TDIC s operating assets will thus enhance Aldar s high-quality asset management business with an additional stream of recurring revenue in line with its growth investment plan it stated. Aldar said the acq...
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Aldar Properties a leading property development company in Abu Dhabi UAE said it has reached an agreement with Tourism Development & Investment Company (TDIC) to acquire a portfolio of prime real estate assets worth Dh3.7 billion ( 1.01 billion) in one of the largest real estate acquisitions in the country s history. The Emirati developer has acquired assets located in key destinations with a focus on Saadiyat Island. It includes 14 operating assets within various sectors ranging from hospitality retail residential education and infrastructure in addition to a selection of prime strategic land plots and projects under development on that island said a statement from the company. The acquisition of TDIC s operating assets will thus enhance Aldar s high-quality asset management business with an additional stream of recurring revenue in line with its growth investment plan it stated. Aldar said the acq...
The GCC aviation sector will continue to ride high due to large airport construction projects with estimated total value of 95 listed projects reaching 49 billion (Dh180 billion) in May 2018 according to BNC Network a leading project intelligence provider in the Middle East and North Africa (Mena) region. Among these 68 projects worth 45 billion (Dh165 billion) are airport terminal projects while 27 projects worth more than 3 billion (Dh11 billion) involves hanger runway and ancillary facilities said a statement from BNC Network. A new greenfield airport project at the north of Kuwait City with a project development value of 12 billion leads the list of the major airport projects in the GCC it said. Avin Gidwani chief executive officer of BNC Network said: The expansion of the airline fleet will put additional pressure on the region s aviation infrastructure in the future. ...
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The GCC aviation sector will continue to ride high due to large airport construction projects with estimated total value of 95 listed projects reaching 49 billion (Dh180 billion) in May 2018 according to BNC Network a leading project intelligence provider in the Middle East and North Africa (Mena) region. Among these 68 projects worth 45 billion (Dh165 billion) are airport terminal projects while 27 projects worth more than 3 billion (Dh11 billion) involves hanger runway and ancillary facilities said a statement from BNC Network. A new greenfield airport project at the north of Kuwait City with a project development value of 12 billion leads the list of the major airport projects in the GCC it said. Avin Gidwani chief executive officer of BNC Network said: The expansion of the airline fleet will put additional pressure on the region s aviation infrastructure in the future. ...
Launch of innovative solutions and implementation and maintenanc of a robust regulatory environment will play a key role in influencing the future of real estate sector in Bahrain said a top official of Real Estate Regulatory Authority (Rera) the kingdom s property watchdog. We are already receiving positive enquiries from developers and investors from across the GCC and internationally remarked Rera CEO Shaikh Mohammed bin Khalifa Al Khalifa. He was speaking at a seminar entitled Bahrain Real Estate Looking to the Future hosted by Rera during the Gulf Property Show 2018 held recently in Manama. The event which was attended by real estate brokers and developers put spotlight on Rera and the steps being taken by the property watchdog to help attract greater investment to the sector. Rera s vision for the future is to make Bahrain the premier destination for real estate i...
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Launch of innovative solutions and implementation and maintenanc of a robust regulatory environment will play a key role in influencing the future of real estate sector in Bahrain said a top official of Real Estate Regulatory Authority (Rera) the kingdom s property watchdog. We are already receiving positive enquiries from developers and investors from across the GCC and internationally remarked Rera CEO Shaikh Mohammed bin Khalifa Al Khalifa. He was speaking at a seminar entitled Bahrain Real Estate Looking to the Future hosted by Rera during the Gulf Property Show 2018 held recently in Manama. The event which was attended by real estate brokers and developers put spotlight on Rera and the steps being taken by the property watchdog to help attract greater investment to the sector. Rera s vision for the future is to make Bahrain the premier destination for real estate i...
British nationals have invested nearly Dh31.1 billion ( 8.47 billion) in Dubai s real estate sector during the period from 2014 to 2017 according to the statistics released by Dubai Land Department (DLD). The United Kingdom is one of the largest investment source markets for Dubai s real estate. Although the annual investment has been declining from Dh10 billion in 2015 to Dh5.8 billion in 2016 this has somewhat bottomed out in 2015 and grew marginally to Dh6 billion in 2017 said the DLD report released ahead of a major industry event. The International Real Estate and Investment Show (IREIS) 2018 is a sales and networking platform for real estate developers investors and agents which will host its UK Edition in London. To be held at the Queen Elizabeth Centre II from June 22 to 23 the show serves as a one-stop shop for UK investors who are seeking for the perfect investment opportunities in the UAE. Orga...
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British nationals have invested nearly Dh31.1 billion ( 8.47 billion) in Dubai s real estate sector during the period from 2014 to 2017 according to the statistics released by Dubai Land Department (DLD). The United Kingdom is one of the largest investment source markets for Dubai s real estate. Although the annual investment has been declining from Dh10 billion in 2015 to Dh5.8 billion in 2016 this has somewhat bottomed out in 2015 and grew marginally to Dh6 billion in 2017 said the DLD report released ahead of a major industry event. The International Real Estate and Investment Show (IREIS) 2018 is a sales and networking platform for real estate developers investors and agents which will host its UK Edition in London. To be held at the Queen Elizabeth Centre II from June 22 to 23 the show serves as a one-stop shop for UK investors who are seeking for the perfect investment opportunities in the UAE. Orga...
Smart Wood part of Taxiat Trading Company of Saudi Arabia made its debut in style at the Gulf Construction Expo in Manama with a grand showcase of its innovative composite wood products at the three-day event. The company believes its innovative composite wood products will sweep the Bahrain market and is at the Northern Gulf s biggest showcase for the building and construction sector to create awareness of its capabilities and products. In fact Smart Wood has gone the extra mile to impress visitors to its stand by showcasing a mini-swimming pool that can be transformed into an open hall by ingeniously sliding a motorised parquet flooring panel on top of it. The Riyadh-based Taxiat Trading specialises in cladding materials both interior and exterior made of composite wood to international standards. The company can execute a wide range of projects including design delivery and installation of flooring ...
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Smart Wood part of Taxiat Trading Company of Saudi Arabia made its debut in style at the Gulf Construction Expo in Manama with a grand showcase of its innovative composite wood products at the three-day event. The company believes its innovative composite wood products will sweep the Bahrain market and is at the Northern Gulf s biggest showcase for the building and construction sector to create awareness of its capabilities and products. In fact Smart Wood has gone the extra mile to impress visitors to its stand by showcasing a mini-swimming pool that can be transformed into an open hall by ingeniously sliding a motorised parquet flooring panel on top of it. The Riyadh-based Taxiat Trading specialises in cladding materials both interior and exterior made of composite wood to international standards. The company can execute a wide range of projects including design delivery and installation of flooring ...
After a turbulent few years during which the price of property dipped and rents experienced a readjustment now is the ideal time to invest in Dubai s real estate sector according to a leading independent financial advisory company Holborn Assets. The emirate s property market has gone through a period of re-evaluation in recent years. Where once speculation and inflation were the norm nowadays landlords and investors take a far more cautious some might say realistic approach to operating in the sector it stated. Joanne Phillips the general manager of the Mortgage Division at Holborn Assets said an oversupply of units lower rents and a dip in values have contributed to a major reshaping of the property landscape. Old predictions of continuous growth have been replaced with more grounded ideas of what is achievable as the sector continues to mature beyond the bubble that envelop...
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After a turbulent few years during which the price of property dipped and rents experienced a readjustment now is the ideal time to invest in Dubai s real estate sector according to a leading independent financial advisory company Holborn Assets. The emirate s property market has gone through a period of re-evaluation in recent years. Where once speculation and inflation were the norm nowadays landlords and investors take a far more cautious some might say realistic approach to operating in the sector it stated. Joanne Phillips the general manager of the Mortgage Division at Holborn Assets said an oversupply of units lower rents and a dip in values have contributed to a major reshaping of the property landscape. Old predictions of continuous growth have been replaced with more grounded ideas of what is achievable as the sector continues to mature beyond the bubble that envelop...
Bahrain government has put in place a suitable atmosphere as well as a legislative and technical infrastructure to support investment in the real estate and construction sector said HRH Prime Minister Prince Khalifa bin Salman Al Khalifa at a major industry event in Manama. HRH Premier made the statements while patronising the opening ceremony of the Gulf Construction Expo (GC Expo 2018) the Gulf Property Show 2018 and the Gulf Interiors 2018 all of them organised by Hilal Conference and Exhibitions (HCE) at the Bahrain International Exhibition and Convention Centre. The Prime Minister said that the government is implementing development projects in accordance with a well-thought out vision that is supported by a highly-motivated private sector which helped Bahrain to maintain its investment-attracting potentials in this sector despite the existing competition. Bahrain has maintained its leading position in the real estate s...
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Bahrain government has put in place a suitable atmosphere as well as a legislative and technical infrastructure to support investment in the real estate and construction sector said HRH Prime Minister Prince Khalifa bin Salman Al Khalifa at a major industry event in Manama. HRH Premier made the statements while patronising the opening ceremony of the Gulf Construction Expo (GC Expo 2018) the Gulf Property Show 2018 and the Gulf Interiors 2018 all of them organised by Hilal Conference and Exhibitions (HCE) at the Bahrain International Exhibition and Convention Centre. The Prime Minister said that the government is implementing development projects in accordance with a well-thought out vision that is supported by a highly-motivated private sector which helped Bahrain to maintain its investment-attracting potentials in this sector despite the existing competition. Bahrain has maintained its leading position in the real estate s...
Over the last couple of quarters there has been a dichotomy in the rise and fall of sale volumes across the Dubai real estate market according to Reidin a Dubai-based real estate information company focusing on emerging markets. Since the third quarter of 2017 till date the ready transactions grew by 24 per cent while off-plan transactions have fallen by 32 per cent over the same time period it stated. In 2017 off-plan dominated the market landscape accounting for 60-70 per cent of all sales. However in the first quarter of 2018 Reidin said it has witnessed a reversal where ready sales account for nearly half of the overall activity. This trend is expected to continue and was widely expected as off plan incentives reached their theoretical maximum and the price gap between ready and off plan prices reached unsustainably high levels and have begun the process of mean reversion it added. A quarter-wise dissect...
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Over the last couple of quarters there has been a dichotomy in the rise and fall of sale volumes across the Dubai real estate market according to Reidin a Dubai-based real estate information company focusing on emerging markets. Since the third quarter of 2017 till date the ready transactions grew by 24 per cent while off-plan transactions have fallen by 32 per cent over the same time period it stated. In 2017 off-plan dominated the market landscape accounting for 60-70 per cent of all sales. However in the first quarter of 2018 Reidin said it has witnessed a reversal where ready sales account for nearly half of the overall activity. This trend is expected to continue and was widely expected as off plan incentives reached their theoretical maximum and the price gap between ready and off plan prices reached unsustainably high levels and have begun the process of mean reversion it added. A quarter-wise dissect...
Dubai-based master developer Nakheel has awarded a contract worth Dh595 million ( 162 million) for the construction of Nad Al Sheba Mall its new 1.4 million-sq-ft shopping dining and entertainment destination. The new destination has a total development value of Dh825 million a statement said. Nakheel has appointed Metac General Contracting Company to build the mall which will have 200 shops restaurants and entertainment outlets spread across 500 000 sq ft of leasable space. It is due for completion in 2021. Nad Al Sheba Mall will have supermarkets (Spinneys and Union Co-op) department stores a multi-screen cinema medical clinic fitness centre and a host of restaurants and cafes. Located just off Sheikh Mohammed Bin Zayed Road the mall will be the vibrant centrepiece of Dubai s Nad Al Sheba district a well-populated ever-growing community with over 11 000 high-end villas. The area include...
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Dubai-based master developer Nakheel has awarded a contract worth Dh595 million ( 162 million) for the construction of Nad Al Sheba Mall its new 1.4 million-sq-ft shopping dining and entertainment destination. The new destination has a total development value of Dh825 million a statement said. Nakheel has appointed Metac General Contracting Company to build the mall which will have 200 shops restaurants and entertainment outlets spread across 500 000 sq ft of leasable space. It is due for completion in 2021. Nad Al Sheba Mall will have supermarkets (Spinneys and Union Co-op) department stores a multi-screen cinema medical clinic fitness centre and a host of restaurants and cafes. Located just off Sheikh Mohammed Bin Zayed Road the mall will be the vibrant centrepiece of Dubai s Nad Al Sheba district a well-populated ever-growing community with over 11 000 high-end villas. The area include...
Batelco the leading digital solutions provider in the kingdom has confirmed its sponsorhip for the upcoming Gulf Construction Expo 2018 expo. The Northern Gulf s biggest showcase for the building and construction sector Gulf Construction Expo 2018 will run from April 24 to 26 at the Bahrain International Exhibition & Convention Centre. The strategic sponsorship also covers the Gulf Property Show and Interiors which will coincide with the Gulf Construction Show. During the event Batelco will be showcasing its latest products and offers. Batelco s sponsorship as the exclusive telecom sponsor is in line with the expo s efforts to support Bahrain s Economic Vision 2030 and boost economic investments in non-oil sectors in the kingdom and the Arabian Gulf said the company in a statement. The Gulf Construction Expo highlights the industry s latest products cutting-edge technologies and ser...
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Batelco the leading digital solutions provider in the kingdom has confirmed its sponsorhip for the upcoming Gulf Construction Expo 2018 expo. The Northern Gulf s biggest showcase for the building and construction sector Gulf Construction Expo 2018 will run from April 24 to 26 at the Bahrain International Exhibition & Convention Centre. The strategic sponsorship also covers the Gulf Property Show and Interiors which will coincide with the Gulf Construction Show. During the event Batelco will be showcasing its latest products and offers. Batelco s sponsorship as the exclusive telecom sponsor is in line with the expo s efforts to support Bahrain s Economic Vision 2030 and boost economic investments in non-oil sectors in the kingdom and the Arabian Gulf said the company in a statement. The Gulf Construction Expo highlights the industry s latest products cutting-edge technologies and ser...
Leading legal firm Al Tamimi & Company said it had played a key role in helping Bahrain s Real Estate Regulatory Authority (Rera) draft the implementing regulations in line with Law 27 of 2017 concerning the Promulgation of the Real Estate Sector Regulation Law. Rera was established in October last year to improve real estate regulation throughout Bahrain and stimulate investment opportunities within the sector. The board of directors was constituted with Sheikh Mohammed bin Khalifa bin Abdulla Al Khalifa appointed as the chief executive officer. Lauding the company s work Sheikh Mohammed said: Al Tamimi have worked tirelessly with Rera since their appointment in drafting the resolutions and providing their legal and regional experience. The Authority looks forward to continuing to work with Al Tamimi in the years to come. The new law together with the resolutions will provide comprehensive legislation for the...
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Leading legal firm Al Tamimi & Company said it had played a key role in helping Bahrain s Real Estate Regulatory Authority (Rera) draft the implementing regulations in line with Law 27 of 2017 concerning the Promulgation of the Real Estate Sector Regulation Law. Rera was established in October last year to improve real estate regulation throughout Bahrain and stimulate investment opportunities within the sector. The board of directors was constituted with Sheikh Mohammed bin Khalifa bin Abdulla Al Khalifa appointed as the chief executive officer. Lauding the company s work Sheikh Mohammed said: Al Tamimi have worked tirelessly with Rera since their appointment in drafting the resolutions and providing their legal and regional experience. The Authority looks forward to continuing to work with Al Tamimi in the years to come. The new law together with the resolutions will provide comprehensive legislation for the...
Bahrain-based Al Nisr Aluminium and Metal Fabrication Company a leading provider of rolling shutters and sectional doors will be showcasing a wide range of its products and brands at the upcoming Gulf Construction Expo 2018. The Northern Gulf s leading expo for construction and building materials Gulf Construction Expo 2018 is being held under the patronage of HRH Prince Khalifa Bin Salman Al Khalifa Prime Minister of the Kingdom of Bahrain from April 24 to 26 at the Bahrain International Exhibition and Convention Centre. Al Nisr Aluminium will be introducing several models of rolling shutters sectional overhead doors folding doors high speed doors window rolling shutters and fire-curtains. The company is also Bahrain s agent for international brands such as Flexidoor R&D Doors Efaflex Kent Sipar Jewers ISEA and OCM. Established in 1976 Al-Nisr Aluminium was the first company to introduce w...
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Bahrain-based Al Nisr Aluminium and Metal Fabrication Company a leading provider of rolling shutters and sectional doors will be showcasing a wide range of its products and brands at the upcoming Gulf Construction Expo 2018. The Northern Gulf s leading expo for construction and building materials Gulf Construction Expo 2018 is being held under the patronage of HRH Prince Khalifa Bin Salman Al Khalifa Prime Minister of the Kingdom of Bahrain from April 24 to 26 at the Bahrain International Exhibition and Convention Centre. Al Nisr Aluminium will be introducing several models of rolling shutters sectional overhead doors folding doors high speed doors window rolling shutters and fire-curtains. The company is also Bahrain s agent for international brands such as Flexidoor R&D Doors Efaflex Kent Sipar Jewers ISEA and OCM. Established in 1976 Al-Nisr Aluminium was the first company to introduce w...
The Dubai Land Department (DLD) has revealed that real estate transactions in Dubai for the first three months of 2018 surged to more than Dh58 billion ( 15.7 billion) through 13 759 sales. According to the report issued by DLD s Department of Real Estates Studies and Research the first quarter saw a total of 9 092 sales transaction worth about Dh19 billion 3 717 mortgage transactions worth over Dh30.6 billion and 950 other transactions valued at Dh8.4 billion. Commenting on the announcement Sultan Butti bin Mejren the director-general of DLD said: The Dubai real estate market continues to show continuous growth driven by general optimism and confidence in the real estate sector. Achieving almost Dh58 billion in transactions shows strong momentum in the real estate sector for Q1 and we expect this to raise the Q2 transaction index and continue to ral...
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The Dubai Land Department (DLD) has revealed that real estate transactions in Dubai for the first three months of 2018 surged to more than Dh58 billion ( 15.7 billion) through 13 759 sales. According to the report issued by DLD s Department of Real Estates Studies and Research the first quarter saw a total of 9 092 sales transaction worth about Dh19 billion 3 717 mortgage transactions worth over Dh30.6 billion and 950 other transactions valued at Dh8.4 billion. Commenting on the announcement Sultan Butti bin Mejren the director-general of DLD said: The Dubai real estate market continues to show continuous growth driven by general optimism and confidence in the real estate sector. Achieving almost Dh58 billion in transactions shows strong momentum in the real estate sector for Q1 and we expect this to raise the Q2 transaction index and continue to ral...
UAE-based RSA Global a third-party logistics provider has acquired a major stake in India s Meesan Logistics through which both companies will develop their joint expansion plans in the Indian market. The duo aim to enhance the entire range of logistics solutions currently offered in India including contract logistics freight road transportation and on-site logistics said senior officials at the signing ceremony held in Mumbai India. This marks RSA Global s first major step in global expansion by collaborating with an established Indian third-party logistics company with whom RSA Global will offer services across India it added. RSA Global said the first steps of implementation will see an upgrade in technology and health safety security and quality (HSSEQ) standards. This collaboration will offer long-term growth for both companies customers in the Indian market by combining local experti...
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UAE-based RSA Global a third-party logistics provider has acquired a major stake in India s Meesan Logistics through which both companies will develop their joint expansion plans in the Indian market. The duo aim to enhance the entire range of logistics solutions currently offered in India including contract logistics freight road transportation and on-site logistics said senior officials at the signing ceremony held in Mumbai India. This marks RSA Global s first major step in global expansion by collaborating with an established Indian third-party logistics company with whom RSA Global will offer services across India it added. RSA Global said the first steps of implementation will see an upgrade in technology and health safety security and quality (HSSEQ) standards. This collaboration will offer long-term growth for both companies customers in the Indian market by combining local experti...
Thousands of hospitality and construction industry professionals have descended on Jeddah for major trade events running together at the Jeddah Centre for Forums and Events till April 12 (4-10pm daily). The sixth edition of The Hotel Show Saudi Arabia and second annual Stone & Surface Saudi Arabia opened on April 10th and was inaugurated by Faisal Alfadl secretary general of the King Saud Foundation and founder of the Saudi Green Building Forum. AlFadl also hosted a full-day Green Building Workshop during the first day of the events at the conference at Stone & Surface Saudi Arabia detailing Saudi s position as a world leader in sustainable construction with an intelligent cities green built environment on its horizon. The events come at a time of record levels of activity across the kingdom in the hospitality and construction markets. A Tophotelprojects report prepared ahead of T...
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Thousands of hospitality and construction industry professionals have descended on Jeddah for major trade events running together at the Jeddah Centre for Forums and Events till April 12 (4-10pm daily). The sixth edition of The Hotel Show Saudi Arabia and second annual Stone & Surface Saudi Arabia opened on April 10th and was inaugurated by Faisal Alfadl secretary general of the King Saud Foundation and founder of the Saudi Green Building Forum. AlFadl also hosted a full-day Green Building Workshop during the first day of the events at the conference at Stone & Surface Saudi Arabia detailing Saudi s position as a world leader in sustainable construction with an intelligent cities green built environment on its horizon. The events come at a time of record levels of activity across the kingdom in the hospitality and construction markets. A Tophotelprojects report prepared ahead of T...
Al Shirawi Group one of the largest private business conglomerates in the UAE has signed an enterprise agreement with Oracle Construction and Engineering s Aconex for its construction management software. The agreement is set to benefit the group s businesses in engineering services such as Al Shirawi Electrical and Mechanical Engineering Company Al Shirawi Contracting and Al Shirawi Interiors. Aconex a leading platform for digital project delivery in construction and engineering projects will be standardised for all future projects undertaken by group entities and will be used by more than nine project teams comprising approximately 250 employees in the initial phase. The initial projects set to be deployed on Oracle s Aconex are the prestigious Silicon Park of Dubai Silicon Oasis Authority and Cityland Mall for which Al Shirawi Interiors is executing the fit-out scope and Tiara Towers and American Schoo...
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Al Shirawi Group one of the largest private business conglomerates in the UAE has signed an enterprise agreement with Oracle Construction and Engineering s Aconex for its construction management software. The agreement is set to benefit the group s businesses in engineering services such as Al Shirawi Electrical and Mechanical Engineering Company Al Shirawi Contracting and Al Shirawi Interiors. Aconex a leading platform for digital project delivery in construction and engineering projects will be standardised for all future projects undertaken by group entities and will be used by more than nine project teams comprising approximately 250 employees in the initial phase. The initial projects set to be deployed on Oracle s Aconex are the prestigious Silicon Park of Dubai Silicon Oasis Authority and Cityland Mall for which Al Shirawi Interiors is executing the fit-out scope and Tiara Towers and American Schoo...
Zarah Evans the managing partner of Dubai-based brokerage Exclusive Links Real Estate has been honoured with the Female Real Estate Entrepreneur of the Year award by leading real estate portal Propertyfinder Group. Evans won the award in recognition of a woman-led brokerage that has proved its staying power in the UAE with 13 years in business. Propertyfinder Group honoured her at an exclusive event which celebrated the success of two dozen leading women in the real estate sector. The proud winner said real estate was a good career match for women. Although more typically the real estate industry is a man s world I will say that over the years and in all circumstances I have only been met with respect and inclusion remarked Evans. I think that managing a real estate business takes much attention to detail patience and care. These are all traits naturally instinctive to most women ...
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Zarah Evans the managing partner of Dubai-based brokerage Exclusive Links Real Estate has been honoured with the Female Real Estate Entrepreneur of the Year award by leading real estate portal Propertyfinder Group. Evans won the award in recognition of a woman-led brokerage that has proved its staying power in the UAE with 13 years in business. Propertyfinder Group honoured her at an exclusive event which celebrated the success of two dozen leading women in the real estate sector. The proud winner said real estate was a good career match for women. Although more typically the real estate industry is a man s world I will say that over the years and in all circumstances I have only been met with respect and inclusion remarked Evans. I think that managing a real estate business takes much attention to detail patience and care. These are all traits naturally instinctive to most women ...
Abu Dhabi s real estate market is seen nearing bottom as the UAE economy prepares for stronger growth in 2018 with the gross domestic product (GDP) likely to expand by 2.6 per cent according to an industry expert. While the first quarter of 2018 has recorded a slowing rate of capital value declines across the UAE developers of high end homes in Abu Dhabi appear to be sensing a bottoming of the market and are pressing ahead with new schemes stated international real estate consultancy Cluttons. The very top of Abu Dhabi s sales market has been relatively positive and is showing signs of stabilising said Cluttons in its Abu Dhabi Property Market Outlook report for Spring 2018. Sea facing villas on Saadiyat Island for instance which remain the most expensive residential property type in the capital at Dh1 700 per sq ft have seen no movement in prices for two consecutive quarters it added. Faisa...
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Abu Dhabi s real estate market is seen nearing bottom as the UAE economy prepares for stronger growth in 2018 with the gross domestic product (GDP) likely to expand by 2.6 per cent according to an industry expert. While the first quarter of 2018 has recorded a slowing rate of capital value declines across the UAE developers of high end homes in Abu Dhabi appear to be sensing a bottoming of the market and are pressing ahead with new schemes stated international real estate consultancy Cluttons. The very top of Abu Dhabi s sales market has been relatively positive and is showing signs of stabilising said Cluttons in its Abu Dhabi Property Market Outlook report for Spring 2018. Sea facing villas on Saadiyat Island for instance which remain the most expensive residential property type in the capital at Dh1 700 per sq ft have seen no movement in prices for two consecutive quarters it added. Faisa...
Orascom Construction a leading global engineering and construction contractor in the Middle East and North Africa (Mena) region said its joint venture with UAE-based Al Sahraa Group has been awarded a 180-million contract for the expansion of Fujairah International Airport. The project s scope encompasses the main infrastructure works for the airport expansion including a new air traffic control tower the extension of the existing runway a new emergency runway rapid exit taxiways and the airport special systems said a statement from Orascom Construction whose share of the joint venture is 60 per cent. A major player in the region Orascom Construction has extensive experience in the airport sector. The group has executed similar work for the majority of military and civilian airports in Egypt as well as King Abdulaziz International Airport in Saudi Arabia and Al Dhafra Air Base in the UAE stated the top contractor. In add...
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Orascom Construction a leading global engineering and construction contractor in the Middle East and North Africa (Mena) region said its joint venture with UAE-based Al Sahraa Group has been awarded a 180-million contract for the expansion of Fujairah International Airport. The project s scope encompasses the main infrastructure works for the airport expansion including a new air traffic control tower the extension of the existing runway a new emergency runway rapid exit taxiways and the airport special systems said a statement from Orascom Construction whose share of the joint venture is 60 per cent. A major player in the region Orascom Construction has extensive experience in the airport sector. The group has executed similar work for the majority of military and civilian airports in Egypt as well as King Abdulaziz International Airport in Saudi Arabia and Al Dhafra Air Base in the UAE stated the top contractor. In add...
Global logistics spending is expected to reach 10.6 trillion in 2020 with transportation accounting for the majority at 70 per cent finds a recent analysis from growth partnership firm Frost & Sullivan. Emerging technologies such as cloud computing big data and crowdsourcing coupled with an influx of tech-savvy start-ups are unbundling the value chain and transforming delivery models said the analysis titled Urban Logistics Opportunities Last-Mile Innovation . About two fifth of the overall logistics costs are associated with the last mile that are forcing providers to come up with newer innovative solutions to deliver packages within cities. Frost & Sullivan predicts the market will rapidly move toward mobile freight brokerage-type on-demand deliveries and autonomous technology such as the use of drones and delivery bots which are set to solve the last mile delivery challenge by being more cost effective to end us...
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Global logistics spending is expected to reach 10.6 trillion in 2020 with transportation accounting for the majority at 70 per cent finds a recent analysis from growth partnership firm Frost & Sullivan. Emerging technologies such as cloud computing big data and crowdsourcing coupled with an influx of tech-savvy start-ups are unbundling the value chain and transforming delivery models said the analysis titled Urban Logistics Opportunities Last-Mile Innovation . About two fifth of the overall logistics costs are associated with the last mile that are forcing providers to come up with newer innovative solutions to deliver packages within cities. Frost & Sullivan predicts the market will rapidly move toward mobile freight brokerage-type on-demand deliveries and autonomous technology such as the use of drones and delivery bots which are set to solve the last mile delivery challenge by being more cost effective to end us...
Global logistics spending is expected to reach 10.6 trillion in 2020 with transportation accounting for the majority at 70 per cent finds a recent analysis from growth partnership firm Frost & Sullivan. Emerging technologies such as cloud computing big data and crowdsourcing coupled with an influx of tech-savvy start-ups are unbundling the value chain and transforming delivery models said the analysis titled Urban Logistics Opportunities Last-Mile Innovation . About two fifth of the overall logistics costs are associated with the last mile that are forcing providers to come up with newer innovative solutions to deliver packages within cities. Frost & Sullivan predicts the market will rapidly move toward mobile freight brokerage-type on-demand deliveries and autonomous technology such as the use of drones and delivery bots which are set to solve the last mile delivery challenge by being more cost effective to end us...
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Global logistics spending is expected to reach 10.6 trillion in 2020 with transportation accounting for the majority at 70 per cent finds a recent analysis from growth partnership firm Frost & Sullivan. Emerging technologies such as cloud computing big data and crowdsourcing coupled with an influx of tech-savvy start-ups are unbundling the value chain and transforming delivery models said the analysis titled Urban Logistics Opportunities Last-Mile Innovation . About two fifth of the overall logistics costs are associated with the last mile that are forcing providers to come up with newer innovative solutions to deliver packages within cities. Frost & Sullivan predicts the market will rapidly move toward mobile freight brokerage-type on-demand deliveries and autonomous technology such as the use of drones and delivery bots which are set to solve the last mile delivery challenge by being more cost effective to end us...
SV Pittie Sohar Textiles backed by India s ShriVallabh Pittie Group (SVP) has commenced construction work on a major cotton yarn manufacturing project at Oman s Sohar Port and Freezone said a report. The investment in the project is expected to stimulate the growth of a textile hub in Oman in the future added the Oman Daily Observer report. SVP is a global leader in the manufacturing of cotton yarn and other raw materials for textiles. Inexco Group a 35-year-old UAE-based company specialising in textile mill construction has been awarded the contract to execute the first-of-its-kind project on an engineering procurement construction (EPC) basis. Bank Sohar is the finance partner for the project which involves an investment of 150 million in the first phase. SV Pittie Sohar Textiles is targeting completion of Phase 1 by March 2019 with a capacity of 150 000 spindles and 3 500 rotors. br /...
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SV Pittie Sohar Textiles backed by India s ShriVallabh Pittie Group (SVP) has commenced construction work on a major cotton yarn manufacturing project at Oman s Sohar Port and Freezone said a report. The investment in the project is expected to stimulate the growth of a textile hub in Oman in the future added the Oman Daily Observer report. SVP is a global leader in the manufacturing of cotton yarn and other raw materials for textiles. Inexco Group a 35-year-old UAE-based company specialising in textile mill construction has been awarded the contract to execute the first-of-its-kind project on an engineering procurement construction (EPC) basis. Bank Sohar is the finance partner for the project which involves an investment of 150 million in the first phase. SV Pittie Sohar Textiles is targeting completion of Phase 1 by March 2019 with a capacity of 150 000 spindles and 3 500 rotors. br /...
UAE-based Green Modelling Contracting said it has been awarded a Dh175 million ( 48 million) contract by leading real estate company Azizi Developments to develop the group s ultra-modern headquarters in Dubai. Located in Meydan Avenue just a 14-minute drive from Downtown Dubai and a 17-minute drive to Dubai International Airport the spacious and plush 520 000 sq ft Azizi HQ building will be able to accommodate more than 2 000 employees and will be outfitted with a rooftop health club and a multipurpose ballroom said a statement from the company. The overall building design incorporates boutique and classical elements while the interiors will offer a diverse work environment subdivided by zones within the building. The development of the flagship building has been undertaken to enhance customer service and increase operational capacity as the developer grows its portfolio of projects in Meydan Al Furjan Palm Jumeirah Dubai H...
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UAE-based Green Modelling Contracting said it has been awarded a Dh175 million ( 48 million) contract by leading real estate company Azizi Developments to develop the group s ultra-modern headquarters in Dubai. Located in Meydan Avenue just a 14-minute drive from Downtown Dubai and a 17-minute drive to Dubai International Airport the spacious and plush 520 000 sq ft Azizi HQ building will be able to accommodate more than 2 000 employees and will be outfitted with a rooftop health club and a multipurpose ballroom said a statement from the company. The overall building design incorporates boutique and classical elements while the interiors will offer a diverse work environment subdivided by zones within the building. The development of the flagship building has been undertaken to enhance customer service and increase operational capacity as the developer grows its portfolio of projects in Meydan Al Furjan Palm Jumeirah Dubai H...
The UAE s Barakah Nuclear Energy Plant in Al Dhafra Region Abu Dhabi today celebrated the successful completion of Unit 1 construction. His Highness Sheikh Mohamed bin Zayed Al Nahyan Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces and President Moon Jae-in of South Korea visited the plant and declared the completion of the construction said a Wam news agency report. During the ceremony both leaders highlighted the importance of this historic milestone that sets the UAE as the first Arab country to deliver a commercial nuclear plant to the highest standards of safety quality and security as well as the first nuclear newcomer since 1985. With this strategic milestone achieved Unit 1 clears the construction phase and the project now shifts its focus to completing operational readiness preparations required to obtain the approval of the Ope...
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The UAE s Barakah Nuclear Energy Plant in Al Dhafra Region Abu Dhabi today celebrated the successful completion of Unit 1 construction. His Highness Sheikh Mohamed bin Zayed Al Nahyan Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces and President Moon Jae-in of South Korea visited the plant and declared the completion of the construction said a Wam news agency report. During the ceremony both leaders highlighted the importance of this historic milestone that sets the UAE as the first Arab country to deliver a commercial nuclear plant to the highest standards of safety quality and security as well as the first nuclear newcomer since 1985. With this strategic milestone achieved Unit 1 clears the construction phase and the project now shifts its focus to completing operational readiness preparations required to obtain the approval of the Ope...
Dubai Property Festival (DPF) a three-day sales and purchase event which opens next month at Dubai World Trade Centre will contribute to stimulating sales and purchases in the emirate s real estate market said the organisers. The festival is being organised by DLD through its investment arm the Real Estate Investment Management and Promotion Center in partnership with International Property Show (IPS). To be held from April 9 to 11 the real estate business-to-consumer (B2C) sales expo will see top developers brokers banks mortgage providers and financial institutions taking part in it said a statement from DLD. DPF coincides with a series of other international events aimed at attracting investment in the UAE. The event is expected to boost buying and selling activities among a large number of developers brokers banks mortgage providers and financial institutions and home buyers. It is part of DLD s on...
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Dubai Property Festival (DPF) a three-day sales and purchase event which opens next month at Dubai World Trade Centre will contribute to stimulating sales and purchases in the emirate s real estate market said the organisers. The festival is being organised by DLD through its investment arm the Real Estate Investment Management and Promotion Center in partnership with International Property Show (IPS). To be held from April 9 to 11 the real estate business-to-consumer (B2C) sales expo will see top developers brokers banks mortgage providers and financial institutions taking part in it said a statement from DLD. DPF coincides with a series of other international events aimed at attracting investment in the UAE. The event is expected to boost buying and selling activities among a large number of developers brokers banks mortgage providers and financial institutions and home buyers. It is part of DLD s on...
The total value of real estate transactions grew by 20.3 percent in 2017 to Dh29.8 billion ( 8.11 million) as compared with 2016 where the value stood at Dh24.7 billion according to statistics released by Sharjah Real Estate Registration Department (SRERD). The emirate s real estate regulator expressed satisfaction with the performance of the sector which it said is growing steadily year after year thanks to the Government of Sharjah s support said a Wam news agency report. UAE citizens predominate in Sharjah property sector with 10 108 out of 10 865 transactions by GCC citizens in 2017. Ownership certificates numbered 12 481 in 2017 while mortgage transactions stood at 3 005. A number of large-scale projects in various stages of development have boosted the availability of both off-plan sales and sales of completed residential units in S...
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The total value of real estate transactions grew by 20.3 percent in 2017 to Dh29.8 billion ( 8.11 million) as compared with 2016 where the value stood at Dh24.7 billion according to statistics released by Sharjah Real Estate Registration Department (SRERD). The emirate s real estate regulator expressed satisfaction with the performance of the sector which it said is growing steadily year after year thanks to the Government of Sharjah s support said a Wam news agency report. UAE citizens predominate in Sharjah property sector with 10 108 out of 10 865 transactions by GCC citizens in 2017. Ownership certificates numbered 12 481 in 2017 while mortgage transactions stood at 3 005. A number of large-scale projects in various stages of development have boosted the availability of both off-plan sales and sales of completed residential units in S...
Al Fahid Island Development a high-end mixed-use waterfront development in Abu Dhabi UAE has awarded its first construction package to Faithful Gould a member of the SNC-Lavalin Group. The integrated project and programme management consultancy was engaged in Q4 2017 by Al Fahid Property Development to provide cost management services at design tender and construction stages on the development. Local contractor Bright Accord General Contracting has been awarded the nine-month reclamation package and construction work has now begun on site. Faithful Gould s cost management services cover the reclamation marine works site wide infrastructure and landscaping residential and leisure components. Steven Batchelor regional director for commercial services in SNC Lavalin s Faithful Gould business said: We played a key role awarding the first construction contract for this breath-taking development and are exci...
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Al Fahid Island Development a high-end mixed-use waterfront development in Abu Dhabi UAE has awarded its first construction package to Faithful Gould a member of the SNC-Lavalin Group. The integrated project and programme management consultancy was engaged in Q4 2017 by Al Fahid Property Development to provide cost management services at design tender and construction stages on the development. Local contractor Bright Accord General Contracting has been awarded the nine-month reclamation package and construction work has now begun on site. Faithful Gould s cost management services cover the reclamation marine works site wide infrastructure and landscaping residential and leisure components. Steven Batchelor regional director for commercial services in SNC Lavalin s Faithful Gould business said: We played a key role awarding the first construction contract for this breath-taking development and are exci...
United Real Estate Company (URC) one of Kuwait s leading real estate development companies has announced the launch of Hessah Towers in the upcoming exclusive Hessah Al Mubarak District. Positioned in a prestigious location along the Arabian Gulf Road United Real Estate Company will develop 40 per cent of the Hessah Al Mubarak District under Mena Homes an affiliate of URC. The towers are the inaugural residential offering by URC in the District. Hessah Towers are situated in the Hessah Al Mubarak District an all-inclusive community that delivers a sophisticated quality lifestyle designed to interconnect living leisure retail commercial wellness clinics and offices. The District additionally includes public gardens walkways and green open spaces for ease convenience and walkability throughout the neighbourhood. Hessah Towers cover a total built-up area of 63 000 sq m with a master approach to optimize each...
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United Real Estate Company (URC) one of Kuwait s leading real estate development companies has announced the launch of Hessah Towers in the upcoming exclusive Hessah Al Mubarak District. Positioned in a prestigious location along the Arabian Gulf Road United Real Estate Company will develop 40 per cent of the Hessah Al Mubarak District under Mena Homes an affiliate of URC. The towers are the inaugural residential offering by URC in the District. Hessah Towers are situated in the Hessah Al Mubarak District an all-inclusive community that delivers a sophisticated quality lifestyle designed to interconnect living leisure retail commercial wellness clinics and offices. The District additionally includes public gardens walkways and green open spaces for ease convenience and walkability throughout the neighbourhood. Hessah Towers cover a total built-up area of 63 000 sq m with a master approach to optimize each...
Haji Hassan a diversified construction-focused group has confirmed its strategic sponsorship for Gulf Construction Expo the major showcase for the building and construction sector in the Northern Gulf. Gulf Construction Expo takes place from April 24 to 26 at the Bahrain International Exhibition and Convention Centre under the patronage of HRH Prince Khalifa bin Salman Al Khalifa Prime Minister of Bahrain. Haji Hassan Group is headquartered in Bahrain with joint venture partnerships across the GCC. The group is a conglomeration of complementary businesses which have been serving the construction and industrial services sectors in Bahrain and the region since 1952. The company manufactures building materials precast concrete ready-mix concrete plastic and sewage pipes construction chemicals concrete blocks steel reinforcement rubber and mechanical engineering spare parts all of which are essential for the construction sector. The prof...
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Haji Hassan a diversified construction-focused group has confirmed its strategic sponsorship for Gulf Construction Expo the major showcase for the building and construction sector in the Northern Gulf. Gulf Construction Expo takes place from April 24 to 26 at the Bahrain International Exhibition and Convention Centre under the patronage of HRH Prince Khalifa bin Salman Al Khalifa Prime Minister of Bahrain. Haji Hassan Group is headquartered in Bahrain with joint venture partnerships across the GCC. The group is a conglomeration of complementary businesses which have been serving the construction and industrial services sectors in Bahrain and the region since 1952. The company manufactures building materials precast concrete ready-mix concrete plastic and sewage pipes construction chemicals concrete blocks steel reinforcement rubber and mechanical engineering spare parts all of which are essential for the construction sector. The prof...
The Dubai Land Department (DLD) has signed an agreement with the Department of Economic Development (DED) in Dubai through the Real Estate Regulatory Authority (RERA) DLD s regulatory arm. The memorandum of understanding (MoU) focuses on establishing a mechanism for monitoring and inspecting real estate facilities licensed by RERA. Under the memorandum of understanding (MoU) the Commercial Compliance & Consumer Protection (CCCP) sector in DED will monitor and inspect real estate facilities licensed by RERA to ensure compliance with applicable laws and regulations. The MoU was signed by Marwan Ahmed bin Ghalita CEO of RERA and Mohammed Ali Rashid Lootah CEO of CCCP and in the presence of Sultan Butti bin Mejren director general of DLD and Sami Al Qamzi director general of DED. Bin Ghalita said: The signing of the memorandum which authorises CCCP to carry out the field inspections of real estate c...
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The Dubai Land Department (DLD) has signed an agreement with the Department of Economic Development (DED) in Dubai through the Real Estate Regulatory Authority (RERA) DLD s regulatory arm. The memorandum of understanding (MoU) focuses on establishing a mechanism for monitoring and inspecting real estate facilities licensed by RERA. Under the memorandum of understanding (MoU) the Commercial Compliance & Consumer Protection (CCCP) sector in DED will monitor and inspect real estate facilities licensed by RERA to ensure compliance with applicable laws and regulations. The MoU was signed by Marwan Ahmed bin Ghalita CEO of RERA and Mohammed Ali Rashid Lootah CEO of CCCP and in the presence of Sultan Butti bin Mejren director general of DLD and Sami Al Qamzi director general of DED. Bin Ghalita said: The signing of the memorandum which authorises CCCP to carry out the field inspections of real estate c...
The Mena construction market is expected to be worth 336 billion by 2020 up from 235 billion in 2016 a net growth of 43 per cent said the organisers of the upcoming Hardware Tools Middle East citing a BMI Research report. More than 160 exhibitors are expected to take part in the 19th edition of Hardware Tools Middle East the Middle East s only dedicated trade fair for tools hardware materials and machinery next month in Dubai UAE. The event takes place from April 2 4 at the Dubai International Convention and Exhibition Centre. According to the exhibition s organiser Messe Frankfurt Middle East many exhibitors are returning this year while a number of newcomers have entered the fray to present their solutions to wide cross-section of potential regional trade buyers and end-users. We re optimistic about the renewed positive sentiment that prevails in the regional hardware an...
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The Mena construction market is expected to be worth 336 billion by 2020 up from 235 billion in 2016 a net growth of 43 per cent said the organisers of the upcoming Hardware Tools Middle East citing a BMI Research report. More than 160 exhibitors are expected to take part in the 19th edition of Hardware Tools Middle East the Middle East s only dedicated trade fair for tools hardware materials and machinery next month in Dubai UAE. The event takes place from April 2 4 at the Dubai International Convention and Exhibition Centre. According to the exhibition s organiser Messe Frankfurt Middle East many exhibitors are returning this year while a number of newcomers have entered the fray to present their solutions to wide cross-section of potential regional trade buyers and end-users. We re optimistic about the renewed positive sentiment that prevails in the regional hardware an...
Dubai Land Department (DLD) has announced that over 170 entries were submitted by companies operating across various real estate fields in the UAE and other countries for the Gulf Real Estate Awards. The second edition of the Gulf Real Estate Awards will take place on March 21 when the winners for the programme s 22 categories will be announced. The Dubai Real Estate Institute (DREI) the educational arm of DLD is organising the Gulf Real Estate Awards in response to the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum Vice President and Prime Minister of the UAE and Ruler of Dubai to inspire industry professionals to achieve greater innovation and have a significant positive impact on the Gulf real estate market. Mahmoud El Burai CEO of DREI said: We are proud to organise the second edition of the Gulf Real Estate Awards which is the most ...
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Dubai Land Department (DLD) has announced that over 170 entries were submitted by companies operating across various real estate fields in the UAE and other countries for the Gulf Real Estate Awards. The second edition of the Gulf Real Estate Awards will take place on March 21 when the winners for the programme s 22 categories will be announced. The Dubai Real Estate Institute (DREI) the educational arm of DLD is organising the Gulf Real Estate Awards in response to the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum Vice President and Prime Minister of the UAE and Ruler of Dubai to inspire industry professionals to achieve greater innovation and have a significant positive impact on the Gulf real estate market. Mahmoud El Burai CEO of DREI said: We are proud to organise the second edition of the Gulf Real Estate Awards which is the most ...
Construction of Nakheel Mall the Dh1.2-billion ( 326.71 million) retail and entertainment destination at the heart of Palm Jumeirah in Dubai is now 85 per cent complete with fit-out also under way at major outlets at the mall master developer Nakheel said. The news comes as a giant 600-tonne tower crane is removed from the construction site signalling a major milestone in Nakheel Mall s progress. All under and above ground floor and ceiling work have been completed with interior works such as granite and glass fixing well on track the company said. Meanwhile the centrepiece of the mall a 25-m-high crystal dome that will straddle the mall s monorail station is also taking shape. Inside the mall fit-out of the 60 000-sq-ft 15-theatre VOX Cinemas complex has begun with more retailers due to start fitting out shortly it said. &nbs...
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Construction of Nakheel Mall the Dh1.2-billion ( 326.71 million) retail and entertainment destination at the heart of Palm Jumeirah in Dubai is now 85 per cent complete with fit-out also under way at major outlets at the mall master developer Nakheel said. The news comes as a giant 600-tonne tower crane is removed from the construction site signalling a major milestone in Nakheel Mall s progress. All under and above ground floor and ceiling work have been completed with interior works such as granite and glass fixing well on track the company said. Meanwhile the centrepiece of the mall a 25-m-high crystal dome that will straddle the mall s monorail station is also taking shape. Inside the mall fit-out of the 60 000-sq-ft 15-theatre VOX Cinemas complex has begun with more retailers due to start fitting out shortly it said. &nbs...
DC PRO Engineering a UAE-based consultancy has marked the International Women s Day by encouraging more women to take the lead in the region s construction and engineering sector insisting the booming industry needs them. According to recent findings of the Pinsent Masons GCC Construction Survey overall sentiment in the region s construction sector has improved by approximately seven per cent. The findings show that the UAE is still the GCC s leading market and expected to record growth in 2018 with 38 per cent of respondents forecasting new opportunities this year compared with 35 per cent in 2016. And with Expo 2020 Dubai just over two years away the sector is set to continuing growing opening new opportunities for both graduates and experienced industry professionals. However while the UAE is leading the way with female empowerment there remains a shortage of women in the engineering and construction sector...
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DC PRO Engineering a UAE-based consultancy has marked the International Women s Day by encouraging more women to take the lead in the region s construction and engineering sector insisting the booming industry needs them. According to recent findings of the Pinsent Masons GCC Construction Survey overall sentiment in the region s construction sector has improved by approximately seven per cent. The findings show that the UAE is still the GCC s leading market and expected to record growth in 2018 with 38 per cent of respondents forecasting new opportunities this year compared with 35 per cent in 2016. And with Expo 2020 Dubai just over two years away the sector is set to continuing growing opening new opportunities for both graduates and experienced industry professionals. However while the UAE is leading the way with female empowerment there remains a shortage of women in the engineering and construction sector...
A total 15 companies in Kuwait will soon declare bankruptcy due to lack or scarcity of liquidity and inability to meet their financial commitments for completing the suspended projects for more than three years a media report said. The Ministry of Commerce and Industry (MoCI) has refused requests for liquidation of from 13 companies in order to safeguard investor interests added Al-Shahed Daily quoting sources. The sources indicated that weak cash gush as well as administration problems have led some creditors to head to the ministry to liquidate some companies because profit margins have sagged in the past three years by more than 80 per cent. ...
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A total 15 companies in Kuwait will soon declare bankruptcy due to lack or scarcity of liquidity and inability to meet their financial commitments for completing the suspended projects for more than three years a media report said. The Ministry of Commerce and Industry (MoCI) has refused requests for liquidation of from 13 companies in order to safeguard investor interests added Al-Shahed Daily quoting sources. The sources indicated that weak cash gush as well as administration problems have led some creditors to head to the ministry to liquidate some companies because profit margins have sagged in the past three years by more than 80 per cent. ...
LuLu Group International the top retailer in the Middle East has signed an agreement with Dubai Wholesale City the largest global market for wholesale products to set up a central logistics hub within the fully integrated facility at an investment of Dh300 million ( 82 million). Work will soon start on the 1.3-million-sq-ft central logistics hub which is likely to be competed within two-and-a-half years. Once ready the hitech facility will provide efficient distribution services to meet the consumption requirements of LuLu Group International s growing network of malls and hypermarkets across Dubai Sharjah and Northern Emirates. The agreement was inked by Abdulla Belhoul the chief executive of Dubai Wholesale City and Yousuf Ali MA the chairman of LuLu Group in the presence of Saud Abu Al-Shawareb the chief operating officer of Dubai Industrial Park along with other senior executives. Speaking on the occasi...
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LuLu Group International the top retailer in the Middle East has signed an agreement with Dubai Wholesale City the largest global market for wholesale products to set up a central logistics hub within the fully integrated facility at an investment of Dh300 million ( 82 million). Work will soon start on the 1.3-million-sq-ft central logistics hub which is likely to be competed within two-and-a-half years. Once ready the hitech facility will provide efficient distribution services to meet the consumption requirements of LuLu Group International s growing network of malls and hypermarkets across Dubai Sharjah and Northern Emirates. The agreement was inked by Abdulla Belhoul the chief executive of Dubai Wholesale City and Yousuf Ali MA the chairman of LuLu Group in the presence of Saud Abu Al-Shawareb the chief operating officer of Dubai Industrial Park along with other senior executives. Speaking on the occasi...
Qatar Navigation (Milaha) a leading maritime and logistics conglomerate has inaugurated Phase 1 of the 400 000-sq-m Milaha Logistics City with a 35 000-sq-m warehousing facility dedicated to temperature-controlled cargo. The new facility marks Milaha s entry into cold chain solutions and will cater to the food industry pharmaceuticals and other fast-moving consumer goods (FMCG) said a statement. The facility is divided into a frozen storage area a chilled storage area and a temperature-controlled storage area ranging from -22 to 22 Celsius it said. The facility uses state-of-the-art and environmentally friendly technology which earned it a sustainability award at the Gulf Organisation for Research and Development (GORD) summit recently held in Qatar it added. The new facility is also one of the highest in Qatar with 22 m which allows more storage per sq m than many existing facilities in Qat...
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Qatar Navigation (Milaha) a leading maritime and logistics conglomerate has inaugurated Phase 1 of the 400 000-sq-m Milaha Logistics City with a 35 000-sq-m warehousing facility dedicated to temperature-controlled cargo. The new facility marks Milaha s entry into cold chain solutions and will cater to the food industry pharmaceuticals and other fast-moving consumer goods (FMCG) said a statement. The facility is divided into a frozen storage area a chilled storage area and a temperature-controlled storage area ranging from -22 to 22 Celsius it said. The facility uses state-of-the-art and environmentally friendly technology which earned it a sustainability award at the Gulf Organisation for Research and Development (GORD) summit recently held in Qatar it added. The new facility is also one of the highest in Qatar with 22 m which allows more storage per sq m than many existing facilities in Qat...
Sharjah Research and Technology Innovation Park (SRTIP) said it has joined hands with Finland s Oulu University of Applied Sciences to explore potential of 3D printing across the Middle East region s rapidly thriving construction sector. The move complements current efforts to consolidate Sharjah s position as a leading knowledge and innovation hub said a statement from SRTIP. The strategic alliance between SRTIP an initiative of the American University of Sharjah Enterprises (AUSE) and Oulu University of Applied Sciences one of the best and largest universities in Finland aims towards further enhancing the emirate s position in the fields of innovation and development while also consolidating the Sharjah techno park s role as a regional centre for scientific and commercial research. The programme s agenda began at American University of Sharjah this w...
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Sharjah Research and Technology Innovation Park (SRTIP) said it has joined hands with Finland s Oulu University of Applied Sciences to explore potential of 3D printing across the Middle East region s rapidly thriving construction sector. The move complements current efforts to consolidate Sharjah s position as a leading knowledge and innovation hub said a statement from SRTIP. The strategic alliance between SRTIP an initiative of the American University of Sharjah Enterprises (AUSE) and Oulu University of Applied Sciences one of the best and largest universities in Finland aims towards further enhancing the emirate s position in the fields of innovation and development while also consolidating the Sharjah techno park s role as a regional centre for scientific and commercial research. The programme s agenda began at American University of Sharjah this w...
Etihad Rail the developer and operator of the UAE s national rail network is set to issue construction tenders for the second phase of the nation-wide railway network which will run 628 km long connecting the country s sea ports and the Phase I of the project said a top official. The second phase of the project will connect the railway to Mussafah to Khalifa Port in Abu Dhabi and Jebel Ali Port in Dubai and to the Saudi and Omani borders. Etihad Rail is looking to appoint project managers for this phase revealed Abdullah bin Mohammed Belhaif Al Nuaimi the UAE s Minister of Infrastructure Development and chairman of the Federal Transport Authority-Land and Maritime at a press conference in Dubai. In order to fast-track the project the UAE cabinet has approved a new federal rail law stated the minister. The country&#...
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Etihad Rail the developer and operator of the UAE s national rail network is set to issue construction tenders for the second phase of the nation-wide railway network which will run 628 km long connecting the country s sea ports and the Phase I of the project said a top official. The second phase of the project will connect the railway to Mussafah to Khalifa Port in Abu Dhabi and Jebel Ali Port in Dubai and to the Saudi and Omani borders. Etihad Rail is looking to appoint project managers for this phase revealed Abdullah bin Mohammed Belhaif Al Nuaimi the UAE s Minister of Infrastructure Development and chairman of the Federal Transport Authority-Land and Maritime at a press conference in Dubai. In order to fast-track the project the UAE cabinet has approved a new federal rail law stated the minister. The country&#...
Premium British developer Select Property Group has partnered with Metropolitan Holding Bahrain s leading real estate company to offer the investors based in the kingdom direct access to investment opportunities across its impressive UK portfolio. The move is a significant step in the expansion of Select Property Group s reach to investors across the GCC and a successful development in its relations with prominent real estate companies in the region. At an investment seminar jointly held by both companies in Manama guests were introduced to the benefits of investing in the UK and more specifically Manchester - the city offering the highest investment yields and capital growth according to HSBC. Home to a growing number of students young professionals and international brands Manchester has one of the UK s fastest growing economies with average rental yields currently 65 per cent higher than in London. ...
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Premium British developer Select Property Group has partnered with Metropolitan Holding Bahrain s leading real estate company to offer the investors based in the kingdom direct access to investment opportunities across its impressive UK portfolio. The move is a significant step in the expansion of Select Property Group s reach to investors across the GCC and a successful development in its relations with prominent real estate companies in the region. At an investment seminar jointly held by both companies in Manama guests were introduced to the benefits of investing in the UK and more specifically Manchester - the city offering the highest investment yields and capital growth according to HSBC. Home to a growing number of students young professionals and international brands Manchester has one of the UK s fastest growing economies with average rental yields currently 65 per cent higher than in London. ...
Bahrain s Real Estate Regulatory Authority (Rera) is all set to launch its operations from tomorrow (March 1). The kingdom s Bahrain s real estate watchdog will initially focus on the licensing of real estate service providers and off-plan sale projects. The regulatory panel will be responsible for licensing all real estate professionals including developers brokers and sales agents as well as all developments including the advertising of off-plan projects said its top official. Rera s launch is a significant milestone in the kingdom s efforts to strengthen the rules governing real estate brokerage property valuation real estate property management and owners associations and gated communities remarked its CEO Shaikh Mohammed bin Khalifa Al Khalifa while speaking at a press conference. The Rera which comprises a carefully selected group of experts will maximise coordination between ...
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Bahrain s Real Estate Regulatory Authority (Rera) is all set to launch its operations from tomorrow (March 1). The kingdom s Bahrain s real estate watchdog will initially focus on the licensing of real estate service providers and off-plan sale projects. The regulatory panel will be responsible for licensing all real estate professionals including developers brokers and sales agents as well as all developments including the advertising of off-plan projects said its top official. Rera s launch is a significant milestone in the kingdom s efforts to strengthen the rules governing real estate brokerage property valuation real estate property management and owners associations and gated communities remarked its CEO Shaikh Mohammed bin Khalifa Al Khalifa while speaking at a press conference. The Rera which comprises a carefully selected group of experts will maximise coordination between ...
UAE-based Evarei Management said it has appointed Safa Capital a Dubai Financial Service Authority (DFSA)-regulated financial advisory firm in the Dubai International Financial Centre (DIFC) to be its lead advisor and arranger for the Evareium international real estate fund and initial token offering (ITO). As per the deal Safa Capital will advise Evarei Evareium s lead advisor on subjects relating to arranging investors and transactions for the Fund and ITO. Through the Evareium ITO Evarei envisions a blockchain and smart contract solution for the digitalized real estate investment generation allowing instant online digitalized investment into managed real estate assets through a tokenized fund which aims to create liquidity by registering on multiple digital exchanges over the course of 2018. Stefan Hickmott CEO of Evarei and director of EVM Blockchain Limited said: It is a great privilege to form th...
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UAE-based Evarei Management said it has appointed Safa Capital a Dubai Financial Service Authority (DFSA)-regulated financial advisory firm in the Dubai International Financial Centre (DIFC) to be its lead advisor and arranger for the Evareium international real estate fund and initial token offering (ITO). As per the deal Safa Capital will advise Evarei Evareium s lead advisor on subjects relating to arranging investors and transactions for the Fund and ITO. Through the Evareium ITO Evarei envisions a blockchain and smart contract solution for the digitalized real estate investment generation allowing instant online digitalized investment into managed real estate assets through a tokenized fund which aims to create liquidity by registering on multiple digital exchanges over the course of 2018. Stefan Hickmott CEO of Evarei and director of EVM Blockchain Limited said: It is a great privilege to form th...
Leading luxury property developer Damac Properties has awarded a Dh600 million ( 163.3 million) contract to China State Construction Engineering Corporation for the construction of one of the towers at Aykon City premiere luxury master development coming up in the heart of Dubai on Sheikh Zayed Road overlooking Dubai Canal. The contract covers main works construction for the tower which consists of serviced apartments within the Aykon City development. The tower includes two basement ground floor and ten podium levels in addition to a dedicated lifestyle and entertainment level 53 residential floors and a rooftop. Mohammed Tahaineh the senior VP (Commercial) at Damac Properties said: This is a major contract towards the realisation of Aykon City one of Damac Properties largest master developments in the heart of Dubai. CSCEC is one of the biggest contactors in the world and after careful considerati...
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Leading luxury property developer Damac Properties has awarded a Dh600 million ( 163.3 million) contract to China State Construction Engineering Corporation for the construction of one of the towers at Aykon City premiere luxury master development coming up in the heart of Dubai on Sheikh Zayed Road overlooking Dubai Canal. The contract covers main works construction for the tower which consists of serviced apartments within the Aykon City development. The tower includes two basement ground floor and ten podium levels in addition to a dedicated lifestyle and entertainment level 53 residential floors and a rooftop. Mohammed Tahaineh the senior VP (Commercial) at Damac Properties said: This is a major contract towards the realisation of Aykon City one of Damac Properties largest master developments in the heart of Dubai. CSCEC is one of the biggest contactors in the world and after careful considerati...
Terex Corporation a global manufacturer of lifting and material processing products said it has successfully delivered two all-terrain Demag AC 300-6 cranes to Integrated Logistics Company a leading logistics provider in the Middle East. ILC said its plans to put both the cranes to work at several worksites across the Gulf region. The new six axle Demag AC 300-6 all-terrain crane boasting a 300 Tonne classification features an 80-m main boom. This new six-axle Demag crane delivers strength reach and versatility needed for accomplishing the most demanding jobs at lower operational and transporting costs than similar models in its class. Integrated Logistics Company CEO Salah Al Huwaidi said: After much consideration we selected the brand new Demag AC 300-6 because it combines long reach with a strong load chart to give us the perfect fit for efficient work at height or on reach and it offers interchangeable components. ...
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Terex Corporation a global manufacturer of lifting and material processing products said it has successfully delivered two all-terrain Demag AC 300-6 cranes to Integrated Logistics Company a leading logistics provider in the Middle East. ILC said its plans to put both the cranes to work at several worksites across the Gulf region. The new six axle Demag AC 300-6 all-terrain crane boasting a 300 Tonne classification features an 80-m main boom. This new six-axle Demag crane delivers strength reach and versatility needed for accomplishing the most demanding jobs at lower operational and transporting costs than similar models in its class. Integrated Logistics Company CEO Salah Al Huwaidi said: After much consideration we selected the brand new Demag AC 300-6 because it combines long reach with a strong load chart to give us the perfect fit for efficient work at height or on reach and it offers interchangeable components. ...
The GCC region s construction sector boasts a robust pipeline of projects currently in the planning stages thus indicating there is still demand for construction projects said a report by leading consultancy and advisory firm Deloitte. These projects are mainly driven by social needs initiatives associated with economic transformation plans government s commitment towards investment in infrastructure as well as tourism related projects stated Deloitte in its eighth edition of the GCC Powers of Construction report which provides an overview of the construction industry performance in the gulf countries. The report highlights the importance of greater private sector participation to improve the delivery of social services including healthcare education transportation and utilities infrastructure. Cynthia Corby the audit partner and infrastructure and capital projects leader for Deloitte Middle East said: The us...
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The GCC region s construction sector boasts a robust pipeline of projects currently in the planning stages thus indicating there is still demand for construction projects said a report by leading consultancy and advisory firm Deloitte. These projects are mainly driven by social needs initiatives associated with economic transformation plans government s commitment towards investment in infrastructure as well as tourism related projects stated Deloitte in its eighth edition of the GCC Powers of Construction report which provides an overview of the construction industry performance in the gulf countries. The report highlights the importance of greater private sector participation to improve the delivery of social services including healthcare education transportation and utilities infrastructure. Cynthia Corby the audit partner and infrastructure and capital projects leader for Deloitte Middle East said: The us...
The Saudi real estate financing sector has been witnessing a major surge over the last few years with the figure likely to hit SR502 billion ( 133 billion) by 2020 from the current SR290 billion said a report citing top experts at a real estate workshop in Riyadh. It was recently organised by Bidaya Home Finance to explore the development of the non-banking real estate sector and address its obstacles reported The Saudi Gazette. The move was in line with the Kingdom s Vision 2030 that seeks to increase the percentage of homeowners and enable citizens to own their first homes. The delegates at the workshop learnt that Saudi Real Estate Refinance Company (SRC) which is owned by the Saudi Public Investment Fund was offering financing at a fixed cost to help stablise the real estate financing sector besides offering fixed monthly installments for beneficiaries. The SRC was last year launched in ...
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The Saudi real estate financing sector has been witnessing a major surge over the last few years with the figure likely to hit SR502 billion ( 133 billion) by 2020 from the current SR290 billion said a report citing top experts at a real estate workshop in Riyadh. It was recently organised by Bidaya Home Finance to explore the development of the non-banking real estate sector and address its obstacles reported The Saudi Gazette. The move was in line with the Kingdom s Vision 2030 that seeks to increase the percentage of homeowners and enable citizens to own their first homes. The delegates at the workshop learnt that Saudi Real Estate Refinance Company (SRC) which is owned by the Saudi Public Investment Fund was offering financing at a fixed cost to help stablise the real estate financing sector besides offering fixed monthly installments for beneficiaries. The SRC was last year launched in ...
Oman s Special Economic Zone Authority at Duqm (Sezad) signed two agreements worth a total of RO48.4 million ( 125.5 million) for construction of a service corridor for Duqm Refinery products and two roads at Duqm Port. Sezad signed an agreement for the construction of the two ways (1) & (5) in the Special Economic Zone at Duqm with a cost estimated at RO38.8 Million and another agreement to undertake the detailed design works and construction of the service road from Duqm Refinery to the bulk liquid products dock with a total cost of RO9.6 million. The first project was entrusted and awarded to Khalid bin Ahmed and Sons Company and it is expected to be completed within a period of 27 months as of the date of award while the other project was awarded to Qurum Projects and Maintenance Company in collaboration with Patel Company and expected to be completed within a period of 548 days. The implementation of the two projects come...
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Oman s Special Economic Zone Authority at Duqm (Sezad) signed two agreements worth a total of RO48.4 million ( 125.5 million) for construction of a service corridor for Duqm Refinery products and two roads at Duqm Port. Sezad signed an agreement for the construction of the two ways (1) & (5) in the Special Economic Zone at Duqm with a cost estimated at RO38.8 Million and another agreement to undertake the detailed design works and construction of the service road from Duqm Refinery to the bulk liquid products dock with a total cost of RO9.6 million. The first project was entrusted and awarded to Khalid bin Ahmed and Sons Company and it is expected to be completed within a period of 27 months as of the date of award while the other project was awarded to Qurum Projects and Maintenance Company in collaboration with Patel Company and expected to be completed within a period of 548 days. The implementation of the two projects come...
In 2017 Dubai residential property prices and rents declined by 5 to 10 per cent as was expected according to a report by ratings agency S&P. This correction will continue at least for this year and next before prices stabilize in 2020 at the earliest. How much stimulus Expo 2020 Dubai provides remains to be seen but market players remain hopeful stated the ratings agency in its report titled Dubai s Real Estate Slump Is Set To Persist With Only Expo 2020 Offering Any Hope published today. The report addresses some of the questions investors have been asking about Dubai s real estate market and the direction in which it s heading. We expect a continued decline in residential real estate prices as well as decreasing rentals for the retail and residential segments. The downward trend will mostly reflect promised new supply coming onto the market in the next two to three years it...
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In 2017 Dubai residential property prices and rents declined by 5 to 10 per cent as was expected according to a report by ratings agency S&P. This correction will continue at least for this year and next before prices stabilize in 2020 at the earliest. How much stimulus Expo 2020 Dubai provides remains to be seen but market players remain hopeful stated the ratings agency in its report titled Dubai s Real Estate Slump Is Set To Persist With Only Expo 2020 Offering Any Hope published today. The report addresses some of the questions investors have been asking about Dubai s real estate market and the direction in which it s heading. We expect a continued decline in residential real estate prices as well as decreasing rentals for the retail and residential segments. The downward trend will mostly reflect promised new supply coming onto the market in the next two to three years it...
More than 300 hospitality properties are under construction in the Middle East which on completion will add 105 037 rooms to the current supply. Of this Makkah and Riyadh alone will boast nearly 30 000 rooms according to industry monitor STR. Saudi Arabia s focus on tourism as one avenue to diversify the kingdom away from oil dependence is receiving a boost with a slew of hotel projects now under construction stated STR in its latest data on Middle East and Africa (MEA) region. In capital Riyadh a total of 6 290 hotel rooms are now being built to complement the 13 104 rooms in inventory while in Makkah city about 23 307 are now in construction which will add to the 32 377 rooms already in the market it added. In other Gulf areas current hotel projects in Dubai would add 36 394 rooms to the 97 736 rooms in supply while in Abu Dhabi about 4 064 rooms are now being constructed to boost the 26 678 rooms available to clients ...
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More than 300 hospitality properties are under construction in the Middle East which on completion will add 105 037 rooms to the current supply. Of this Makkah and Riyadh alone will boast nearly 30 000 rooms according to industry monitor STR. Saudi Arabia s focus on tourism as one avenue to diversify the kingdom away from oil dependence is receiving a boost with a slew of hotel projects now under construction stated STR in its latest data on Middle East and Africa (MEA) region. In capital Riyadh a total of 6 290 hotel rooms are now being built to complement the 13 104 rooms in inventory while in Makkah city about 23 307 are now in construction which will add to the 32 377 rooms already in the market it added. In other Gulf areas current hotel projects in Dubai would add 36 394 rooms to the 97 736 rooms in supply while in Abu Dhabi about 4 064 rooms are now being constructed to boost the 26 678 rooms available to clients ...
The hotel room construction in the Middle East during January represented a 22.4 per cent increase compared with the same month of 2017 said STR a global provider of analytics and marketplace insights. The Africa room construction total represented a 13.8 per cent decrease compared with January 2017 STR added in its latest Middle East and Africa hotel supply development update. TradeArabia News Service ...
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The hotel room construction in the Middle East during January represented a 22.4 per cent increase compared with the same month of 2017 said STR a global provider of analytics and marketplace insights. The Africa room construction total represented a 13.8 per cent decrease compared with January 2017 STR added in its latest Middle East and Africa hotel supply development update. TradeArabia News Service ...
Salman Abdullah Bin Saedan Real Estate Group a leading developer in Saudi Arabia is gearing up for its debut issuance of Islamic bonds the first tranche of a 1-billion sukuk said Bahrain-based Ibdar Bank which is arranging the sale. Ibdar said it will be setting up the sukuk programme that would be listed on the Irish Stock Exchange with a possible listing on Nasdaq Dubai. Under this programme sukuk tranches will be issued for Saedan s upcoming social housing projects in the Saudi Arabia it added. We are pleased to announce our partnership with the Salman Abdullah bin Saedan Real Estate Group in a deal that represents a new line of business for Ibdar Bank and look forward to the successful issuance of the sukuk stated the bank chairman Tareq Sadeq after signing the agreement with Group CEO Salman Abdullah bin Saedan. Ibdar is also engaged in treasury aviation real estate asset management a...
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Salman Abdullah Bin Saedan Real Estate Group a leading developer in Saudi Arabia is gearing up for its debut issuance of Islamic bonds the first tranche of a 1-billion sukuk said Bahrain-based Ibdar Bank which is arranging the sale. Ibdar said it will be setting up the sukuk programme that would be listed on the Irish Stock Exchange with a possible listing on Nasdaq Dubai. Under this programme sukuk tranches will be issued for Saedan s upcoming social housing projects in the Saudi Arabia it added. We are pleased to announce our partnership with the Salman Abdullah bin Saedan Real Estate Group in a deal that represents a new line of business for Ibdar Bank and look forward to the successful issuance of the sukuk stated the bank chairman Tareq Sadeq after signing the agreement with Group CEO Salman Abdullah bin Saedan. Ibdar is also engaged in treasury aviation real estate asset management a...
Dubai Municipality has until the end of December last year approved about 10 million sq m as the areas of large construction projects in the emirate with a floor space of 11 million sq m distributed across the various categories such as residential offices public services residential / commercial tourist and open areas a media report said. The Municipality approves master plans for major projects in line with the planning standards that ensure the sustainability of urban development in Dubai Dawoud Al Hajiri assistant director general of Dubai Municipality for Engineering and Planning Sector was quoted as saying in a Wam report. This is in line with the requirements of service providers to ensure the provision of infrastructure services within the international quality standards to make society happy and to achieve a happy and sustainable city he said. Al Hajiri said that during the year 2017 the Munici...
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Dubai Municipality has until the end of December last year approved about 10 million sq m as the areas of large construction projects in the emirate with a floor space of 11 million sq m distributed across the various categories such as residential offices public services residential / commercial tourist and open areas a media report said. The Municipality approves master plans for major projects in line with the planning standards that ensure the sustainability of urban development in Dubai Dawoud Al Hajiri assistant director general of Dubai Municipality for Engineering and Planning Sector was quoted as saying in a Wam report. This is in line with the requirements of service providers to ensure the provision of infrastructure services within the international quality standards to make society happy and to achieve a happy and sustainable city he said. Al Hajiri said that during the year 2017 the Munici...
Dubai Expo 2020 will play a major role as a driver of local entrepreneurial growth and have a huge positive impact across the construction and real estate sectors said a report. The emirate s far-reaching plans to carve an economic future built on innovation and forward-thinking ideas throught the mega event are explored in a new report produced by the global research and consultancy firm Oxford Business Group (OBG). The Report: Dubai 2018 examines the key role that Expo 2020 will play as a driver of local entrepreneurial growth while supporting the emirate s bid to become a regional startup hub. OBG s publication also considers the positive impact that the huge initiative is set to have across the construction and real estate sectors with heightened activity already evident in infrastructure hotels leisure and business facilities transport projects warehouses and homes. The emirate&rsqu...
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Dubai Expo 2020 will play a major role as a driver of local entrepreneurial growth and have a huge positive impact across the construction and real estate sectors said a report. The emirate s far-reaching plans to carve an economic future built on innovation and forward-thinking ideas throught the mega event are explored in a new report produced by the global research and consultancy firm Oxford Business Group (OBG). The Report: Dubai 2018 examines the key role that Expo 2020 will play as a driver of local entrepreneurial growth while supporting the emirate s bid to become a regional startup hub. OBG s publication also considers the positive impact that the huge initiative is set to have across the construction and real estate sectors with heightened activity already evident in infrastructure hotels leisure and business facilities transport projects warehouses and homes. The emirate&rsqu...
NBK Capital Partners an alternative investments firm that leads flexible growth capital investments in mid-sized companies in the Middle East North Africa (Mena) and Turkey has announced the successful first closing of a real estate fund with 75 million in fund commitments raised primarily from prominent regional institutions pension funds family offices and HNWIs (high net worth individuals). DIFC-based NBK Capital Partners which has advised on investments exceeding 1billion is aggregating a portfolio of Shari a-compliant real estate assets acquired primarily through sale-leaseback transactions across the logistics healthcare and education sectors. It aims to capitalise on attractive underlying market dynamics such as the rise of e-commerce and regional demographic trends driving demand for healthcare and education. The firm is targeting a final closing for the fund by the end of 2018 with 150 million in...
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NBK Capital Partners an alternative investments firm that leads flexible growth capital investments in mid-sized companies in the Middle East North Africa (Mena) and Turkey has announced the successful first closing of a real estate fund with 75 million in fund commitments raised primarily from prominent regional institutions pension funds family offices and HNWIs (high net worth individuals). DIFC-based NBK Capital Partners which has advised on investments exceeding 1billion is aggregating a portfolio of Shari a-compliant real estate assets acquired primarily through sale-leaseback transactions across the logistics healthcare and education sectors. It aims to capitalise on attractive underlying market dynamics such as the rise of e-commerce and regional demographic trends driving demand for healthcare and education. The firm is targeting a final closing for the fund by the end of 2018 with 150 million in...
Dubai Investments Real Estate Company (DIRC) said the work on its Dh3 billion ( 816 million) freehold project Mirdif Hills was progressing as per schedule with 30 per cent of the construction already completed. DIRC a real estate subsidiary of Dubai Investments a leading diversified investment company said the structural work on the project s clusters Janayen Avenue Nasayem Avenue and Multaqa Avenue is progressing as per schedule. Construction of Janayen Avenue is 31 per cent complete including the fourth floor slabs while Nasayem Avenue is 34 per cent completed with fourth floor slabs. Also the Mechanical Electrical and Plumbing (MEP) works have started on the Nasayem project while the construction work on Multaqa Avenue is in its preliminary stages. A major luxury community Mirdif Hills is the only freehold in the area and is expected to be fully completed in the second quarter of 2019. ...
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Dubai Investments Real Estate Company (DIRC) said the work on its Dh3 billion ( 816 million) freehold project Mirdif Hills was progressing as per schedule with 30 per cent of the construction already completed. DIRC a real estate subsidiary of Dubai Investments a leading diversified investment company said the structural work on the project s clusters Janayen Avenue Nasayem Avenue and Multaqa Avenue is progressing as per schedule. Construction of Janayen Avenue is 31 per cent complete including the fourth floor slabs while Nasayem Avenue is 34 per cent completed with fourth floor slabs. Also the Mechanical Electrical and Plumbing (MEP) works have started on the Nasayem project while the construction work on Multaqa Avenue is in its preliminary stages. A major luxury community Mirdif Hills is the only freehold in the area and is expected to be fully completed in the second quarter of 2019. ...
Beale & Company a specialist construction and insurance law firm based in the UK said it has appointed Scott Lambert as its new partner in the construction team at its Dubai office. Lambert joins the company from Al Tamimi & Company one of the largest law firms in the Middle East where he was head of construction and infrastructure. Prior to that Scott was a partner at the well regarded Australian firm Holding Redlich said the company in a statement. He brings with him more than 30 years of construction and infrastructure experience to Beale & Company having advised consultants contractors and developers across a range of disputes and contracts and projects advisory matters including recently a mega mixed use tourist development in Saudi Arabia a major Dubai rail infrastructure project a landmark mixed use high rise tower in Dubai and new hotel development for Ras Al Khaimah it stated. Lambert is also a regular speak...
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Beale & Company a specialist construction and insurance law firm based in the UK said it has appointed Scott Lambert as its new partner in the construction team at its Dubai office. Lambert joins the company from Al Tamimi & Company one of the largest law firms in the Middle East where he was head of construction and infrastructure. Prior to that Scott was a partner at the well regarded Australian firm Holding Redlich said the company in a statement. He brings with him more than 30 years of construction and infrastructure experience to Beale & Company having advised consultants contractors and developers across a range of disputes and contracts and projects advisory matters including recently a mega mixed use tourist development in Saudi Arabia a major Dubai rail infrastructure project a landmark mixed use high rise tower in Dubai and new hotel development for Ras Al Khaimah it stated. Lambert is also a regular speak...
Egypt has set up a new development company City Edge Real Estate Development with an investment worth E 1.3 billion ( 73 million) to build residential and multi-use projects in addition to integrated real estate projects said a report. The new firm will have New Urban Communities Authority (NUCA) as key partners with 60 per cent of the company stake along with Housing and Development Bank (38 per cent) and Holding Company for Development and Investment with two per cent shares reported Daily News Egypt citing the country s minister for housing utilities and urban development. This partnership is a critical element toward reaching a comprehensive project that focuses on premium solutions remarked Mostafa Madbouly. It is mainly about infusing the capabilities of the entities involved to attract a distinct customer base through providing integrated real estate services he added. City Edge De...
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Egypt has set up a new development company City Edge Real Estate Development with an investment worth E 1.3 billion ( 73 million) to build residential and multi-use projects in addition to integrated real estate projects said a report. The new firm will have New Urban Communities Authority (NUCA) as key partners with 60 per cent of the company stake along with Housing and Development Bank (38 per cent) and Holding Company for Development and Investment with two per cent shares reported Daily News Egypt citing the country s minister for housing utilities and urban development. This partnership is a critical element toward reaching a comprehensive project that focuses on premium solutions remarked Mostafa Madbouly. It is mainly about infusing the capabilities of the entities involved to attract a distinct customer base through providing integrated real estate services he added. City Edge De...
Modern and contemporary construction designs are best suited for hot and arid climate in the UAE and across the GCC said a leading engineering consultant in design and project management in the UAE. The partiality for modern and contemporary design is due to its simplicity which provides for easier and simpler maintenance in comparisons to classic or heritage design styles stated Abdul Rahim Architectural Consultants (Araco). Additionally in designing modern and contemporary buildings spaces without shade should be minimized and the eastern and western walls should have small well-shaded windows. Further placing courtyards or garden areas with ponds or other water features to cool the low-level air will produce cross ventilation and natural cooling. The trend of using nature-themed landscaping both inside and outside buildings could be thought to have this cooling principal in mind and increasingly with the help of newer and smar...
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Modern and contemporary construction designs are best suited for hot and arid climate in the UAE and across the GCC said a leading engineering consultant in design and project management in the UAE. The partiality for modern and contemporary design is due to its simplicity which provides for easier and simpler maintenance in comparisons to classic or heritage design styles stated Abdul Rahim Architectural Consultants (Araco). Additionally in designing modern and contemporary buildings spaces without shade should be minimized and the eastern and western walls should have small well-shaded windows. Further placing courtyards or garden areas with ponds or other water features to cool the low-level air will produce cross ventilation and natural cooling. The trend of using nature-themed landscaping both inside and outside buildings could be thought to have this cooling principal in mind and increasingly with the help of newer and smar...
Off-plan real estate transactions in Dubai increased 60 per cent in 2017 compared to the previous year according to a report by leading international property company Chestertons Mena. The figures follow a steep increase in the volume and value of off-plan transactions in the second half of the year with Dubailand Business Bay and Al Furjan seeing the highest demand compared to the Lagoons Downtown Dubai and Business Bay which achieved the highest values stated the real estate expert in its latest Observer: Dubai Q4 2017 report. In terms of residential property transactions off-plan dominated the market throughout 2017. Going forward we expect the off-plan market to decrease as the addition of new supply would suggest it will be ready units that will see an increase in demand remarked Ivana Gazivoda Vucinic the head of consulting and valuations and advisory operations at Chestertons Mena. From a transaction valu...
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Off-plan real estate transactions in Dubai increased 60 per cent in 2017 compared to the previous year according to a report by leading international property company Chestertons Mena. The figures follow a steep increase in the volume and value of off-plan transactions in the second half of the year with Dubailand Business Bay and Al Furjan seeing the highest demand compared to the Lagoons Downtown Dubai and Business Bay which achieved the highest values stated the real estate expert in its latest Observer: Dubai Q4 2017 report. In terms of residential property transactions off-plan dominated the market throughout 2017. Going forward we expect the off-plan market to decrease as the addition of new supply would suggest it will be ready units that will see an increase in demand remarked Ivana Gazivoda Vucinic the head of consulting and valuations and advisory operations at Chestertons Mena. From a transaction valu...
Proactive measures should be taken to help protect suppliers from cashflow issues as a result of the introduction of VAT (value-added tax) this year warned a leading UAE-based construction industry expert. The construction sector is particularly prone to cashflow challenges due to the extended value chain and cash intensive nature of the industry. With cashflow already a major issue the introduction of VAT is likely to exacerbate this problem stated Zander Muego a partner at international project management and cost consultancy firm Thomas & Adamson. This is backed up by a recent study by credit insurer Coface which found construction-related companies across the UAE last year delayed payments by an average of 123 days longer than the contracted payment schedule he added. Muego pointed out that the issue surrounding cashflow will arise as VAT falls due when the supplier raises an invoice irrespective of the paym...
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Proactive measures should be taken to help protect suppliers from cashflow issues as a result of the introduction of VAT (value-added tax) this year warned a leading UAE-based construction industry expert. The construction sector is particularly prone to cashflow challenges due to the extended value chain and cash intensive nature of the industry. With cashflow already a major issue the introduction of VAT is likely to exacerbate this problem stated Zander Muego a partner at international project management and cost consultancy firm Thomas & Adamson. This is backed up by a recent study by credit insurer Coface which found construction-related companies across the UAE last year delayed payments by an average of 123 days longer than the contracted payment schedule he added. Muego pointed out that the issue surrounding cashflow will arise as VAT falls due when the supplier raises an invoice irrespective of the paym...
Arcapita a global leader in Shari ah-compliant alternative investments has been appointed as an advisor to HSBC Saudi Arabia for fund targeting logistics assets. Arcapita will identify assets and assist in the financing and sale of assets as well as provide asset management services structuring due diligence monitoring and fund administration for HSBC Saudi Arabia s 150 million GCC investment fund targeting logistics and warehouse assets in Saudi Arabia and the UAE. Our recent transactions highlighted our belief in the potential for the logistics sector in the GCC region and we look forward to working in partnership with HSBC Saudi Arabia and leveraging our extensive experience to source income-generating logistics assets said Atif A Abdulmalik Arcapita s Chief Executive Officer. As hubs facilitating trade between key international ports and gateways to Africa...
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Arcapita a global leader in Shari ah-compliant alternative investments has been appointed as an advisor to HSBC Saudi Arabia for fund targeting logistics assets. Arcapita will identify assets and assist in the financing and sale of assets as well as provide asset management services structuring due diligence monitoring and fund administration for HSBC Saudi Arabia s 150 million GCC investment fund targeting logistics and warehouse assets in Saudi Arabia and the UAE. Our recent transactions highlighted our belief in the potential for the logistics sector in the GCC region and we look forward to working in partnership with HSBC Saudi Arabia and leveraging our extensive experience to source income-generating logistics assets said Atif A Abdulmalik Arcapita s Chief Executive Officer. As hubs facilitating trade between key international ports and gateways to Africa...
The overall sentiment in the GCC s construction sector has improved over the last two years by approximately 7 per cent (from 32 per cent to 39 per cent) according to recent findings from Pinsent Masons. A global 100 law firm Pinsent Masons specialises in the energy infrastructure financial services real estate and advanced manufacturing and technology sectors. The findings of Pinsent Masons GCC Construction Survey show that the UAE remains the number one market expected to deliver growth in 2018 with 38 per cent of respondents expecting the country to provide the most opportunity over the next 12 months compared to 35 per cent in 2016. Presented to industry professionals at Pinsent Masons Annual Construction and Engineering Law Conference the report provides a snapshot of opinion from the GCC construction sector where the majority of the companies are involved in projects with a value of over Dh500 million...
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The overall sentiment in the GCC s construction sector has improved over the last two years by approximately 7 per cent (from 32 per cent to 39 per cent) according to recent findings from Pinsent Masons. A global 100 law firm Pinsent Masons specialises in the energy infrastructure financial services real estate and advanced manufacturing and technology sectors. The findings of Pinsent Masons GCC Construction Survey show that the UAE remains the number one market expected to deliver growth in 2018 with 38 per cent of respondents expecting the country to provide the most opportunity over the next 12 months compared to 35 per cent in 2016. Presented to industry professionals at Pinsent Masons Annual Construction and Engineering Law Conference the report provides a snapshot of opinion from the GCC construction sector where the majority of the companies are involved in projects with a value of over Dh500 million...
Al Khaleel Group a leading trading and contracting company in Oman said it has awarded a construction contract to Al Rawahi International for its three-star hotel project - Ramada Encore - coming up in capital Muscat. Al Khaleel had recently tied-up with the world-renowned Wyndham Hotel Group to launch two new hotels in the sultanate under Ramada brand name said the company in a statement. A luxury hospitality property with 140 deluxe rooms and 24 suites the Ramada Encore will also boast state-of-the-art business facilities leisure amenities a rooftop cafe and pool as well as male and female fitness centres. Ramada Encore will be strategically located along Sultan Qaboos main road in Al Ghubrah a short distance from Muscat International Airport nearby shopping centres and Oman s renowned Sultan Qaboos Grand Mosque. With all-day dining restaurants and coffee lounge the hotel will not only be th...
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Al Khaleel Group a leading trading and contracting company in Oman said it has awarded a construction contract to Al Rawahi International for its three-star hotel project - Ramada Encore - coming up in capital Muscat. Al Khaleel had recently tied-up with the world-renowned Wyndham Hotel Group to launch two new hotels in the sultanate under Ramada brand name said the company in a statement. A luxury hospitality property with 140 deluxe rooms and 24 suites the Ramada Encore will also boast state-of-the-art business facilities leisure amenities a rooftop cafe and pool as well as male and female fitness centres. Ramada Encore will be strategically located along Sultan Qaboos main road in Al Ghubrah a short distance from Muscat International Airport nearby shopping centres and Oman s renowned Sultan Qaboos Grand Mosque. With all-day dining restaurants and coffee lounge the hotel will not only be th...
Rasmala a leading regional investment bank based in Dubai UAE said it has acquired two logistics facilities in Germany for 185 million through its asset management subsidiary Rasmala Investment Bank. The first facility is a major new Amazon logistics centre spanning 88 000 sq m and was acquired for 145 million while the second facility a logistics centre let to a subsidiary of sports goods retailer Decathlon was bought for a 40 million. Both facilities are located in the new Grade A Westfalenhuette logistics park north-east of Dortmund Germany. The new Dortmund logistics park is strategically located for distribution operations with easy access to both eastern and western Europe. Located within the densely populated Ruhr Valley the most populated region in Germany the site is ideally situated for logistics operations. These acquisitions add to Rasmala s portfolio of investment...
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Rasmala a leading regional investment bank based in Dubai UAE said it has acquired two logistics facilities in Germany for 185 million through its asset management subsidiary Rasmala Investment Bank. The first facility is a major new Amazon logistics centre spanning 88 000 sq m and was acquired for 145 million while the second facility a logistics centre let to a subsidiary of sports goods retailer Decathlon was bought for a 40 million. Both facilities are located in the new Grade A Westfalenhuette logistics park north-east of Dortmund Germany. The new Dortmund logistics park is strategically located for distribution operations with easy access to both eastern and western Europe. Located within the densely populated Ruhr Valley the most populated region in Germany the site is ideally situated for logistics operations. These acquisitions add to Rasmala s portfolio of investment...
GWC a leading provider of logistics and supply chain solutions in Qatar said it has signed a managment agreement with Al Asmakh Real Estate Development that will bring the Al Asmakh Logistics Park under the management of GWC for a 22-year period till 2040. Strategically located in the growing North Doha districts the Al Asmakh Logistics Park boasts a number of features specifically tailored to serve the needs of the nation s small and medium enterprises sector (SMEs). Al Asmakh Real Estate Development company have developed a logistics park over an area of 496 410 sq m offering various storage solutions including: 111 329 sq m of dry warehousing; 32 067 sq m of air-conditioned warehousing; 31 618 sq m of chilled warehousing; 13 916 sq m of frozen warehousing; and 17 604 sq m of open yard storage. The park boasts various amenities including a community centre accommodation buildings and a mosque. With GWC unde...
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GWC a leading provider of logistics and supply chain solutions in Qatar said it has signed a managment agreement with Al Asmakh Real Estate Development that will bring the Al Asmakh Logistics Park under the management of GWC for a 22-year period till 2040. Strategically located in the growing North Doha districts the Al Asmakh Logistics Park boasts a number of features specifically tailored to serve the needs of the nation s small and medium enterprises sector (SMEs). Al Asmakh Real Estate Development company have developed a logistics park over an area of 496 410 sq m offering various storage solutions including: 111 329 sq m of dry warehousing; 32 067 sq m of air-conditioned warehousing; 31 618 sq m of chilled warehousing; 13 916 sq m of frozen warehousing; and 17 604 sq m of open yard storage. The park boasts various amenities including a community centre accommodation buildings and a mosque. With GWC unde...
Bahrain has climbed one spot to number 22 globally on the 2018 Agility Emerging Markets Logistics Index also rising by two spots in Market Connectedness. The kingdom remains the fourth highest ranked on the Index for Market Compatibility said a statement. The compatibility sub-index is effectively a measure of market accessibility and the ease of doing business. Six of the top 10 ranked markets for Compatibility come from the Middle East and North Africa (Mena) region it said. The business climates infrastructure and transport connections of leading Gulf economies continue to be the best offered by the world s emerging markets according to Agility s annual global logistics industry report. When it comes to business conditions Bahrain along with the UAE and Oman outclass all other countries in the 50-nation 2018 Agility Emerging Markets Logistics Index a broad gauge of economic competitiveness. Saudi Ara...
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Bahrain has climbed one spot to number 22 globally on the 2018 Agility Emerging Markets Logistics Index also rising by two spots in Market Connectedness. The kingdom remains the fourth highest ranked on the Index for Market Compatibility said a statement. The compatibility sub-index is effectively a measure of market accessibility and the ease of doing business. Six of the top 10 ranked markets for Compatibility come from the Middle East and North Africa (Mena) region it said. The business climates infrastructure and transport connections of leading Gulf economies continue to be the best offered by the world s emerging markets according to Agility s annual global logistics industry report. When it comes to business conditions Bahrain along with the UAE and Oman outclass all other countries in the 50-nation 2018 Agility Emerging Markets Logistics Index a broad gauge of economic competitiveness. Saudi Ara...
Kuwait & Gulf Link Transport (KGL) an international logistics firm based in Kuwait said it has been awarded a new contract by the US Defense Logistics Agency (DLA) to lead logistics and distribution operations for US military personnel across the Gulf region. Under the terms of the contract the fifth of its kind awarded by the DLA KGL will procure import store and distribute food products from both US and local sources to support more than 20 000 military personnel stationed in Kuwait Iraq and Jordan. KGL will also provide services primarily from its procurement and distribution hub in Kuwait. The value of the contract is estimated to be 690 million but not to exceed 1.38 billion for a duration of 60 months. On the contract win Sam Khatib the chief business development officer at KGL said: For more than two decades KGL has been one of the premier logistics suppliers for the US military in the Middle East. W...
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Kuwait & Gulf Link Transport (KGL) an international logistics firm based in Kuwait said it has been awarded a new contract by the US Defense Logistics Agency (DLA) to lead logistics and distribution operations for US military personnel across the Gulf region. Under the terms of the contract the fifth of its kind awarded by the DLA KGL will procure import store and distribute food products from both US and local sources to support more than 20 000 military personnel stationed in Kuwait Iraq and Jordan. KGL will also provide services primarily from its procurement and distribution hub in Kuwait. The value of the contract is estimated to be 690 million but not to exceed 1.38 billion for a duration of 60 months. On the contract win Sam Khatib the chief business development officer at KGL said: For more than two decades KGL has been one of the premier logistics suppliers for the US military in the Middle East. W...
Sharjah Investment and Development Authority (Shurooq) has joined hands with Eagle Hills an Abu Dhabi-based private real estate investment and development company to launch real estate projects worth Dh2.7 billion ( 735 million) in the emirate said a report. The duo will work together in a strategic partnership represented by Eagle Hills Sharjah Development a dedicated real estate company that seeks to develop the three projects: Maryam Island Kalba Waterfront and Palace Al Khan reported state news agency Wam. The launch ceremony was held at Expo Centre Sharjah in the presence of Dr Sheikh Sultan bin Mohammed Al Qasimi Supreme Council Member and Ruler of Sharjah It was attended by Sheikha Bodour bint Sultan Al Qasimi the chairwoman of Shurooq and Mohamed Alabbar the chairman of Eagle Hills besdides directors of government and private companies and other senior officials. Speaking at the launch She...
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Sharjah Investment and Development Authority (Shurooq) has joined hands with Eagle Hills an Abu Dhabi-based private real estate investment and development company to launch real estate projects worth Dh2.7 billion ( 735 million) in the emirate said a report. The duo will work together in a strategic partnership represented by Eagle Hills Sharjah Development a dedicated real estate company that seeks to develop the three projects: Maryam Island Kalba Waterfront and Palace Al Khan reported state news agency Wam. The launch ceremony was held at Expo Centre Sharjah in the presence of Dr Sheikh Sultan bin Mohammed Al Qasimi Supreme Council Member and Ruler of Sharjah It was attended by Sheikha Bodour bint Sultan Al Qasimi the chairwoman of Shurooq and Mohamed Alabbar the chairman of Eagle Hills besdides directors of government and private companies and other senior officials. Speaking at the launch She...
ENBD REIT a Shari a compliant real estate investment trust has announced that Tim Rose will step down as head of Real Estate at Emirates NBD Asset Management handing over the top position to Anthony Taylor. Rose was head of Real Estate at ENBD REIT (previously Emirates Real Estate Fund) since 2011 during which time the fund consistently delivered positive returns culminating in ENBD REIT s IPO in March 2017. Taylor has been a fund manager within the real estate team and Rose s deputy since 2013 when he joined the firm. Tariq Bin Hendi chairman of ENBD REIT said: We are sorry to see Tim leave after 7 successful years as head of Real Estate and wish him the very best for the next chapter of his career in his home country of New Zealand. During his tenure ENBD REIT delivered strong and positive returns to investors. Tim played a crucial part in repositioning the portfolio through a series of strate...
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ENBD REIT a Shari a compliant real estate investment trust has announced that Tim Rose will step down as head of Real Estate at Emirates NBD Asset Management handing over the top position to Anthony Taylor. Rose was head of Real Estate at ENBD REIT (previously Emirates Real Estate Fund) since 2011 during which time the fund consistently delivered positive returns culminating in ENBD REIT s IPO in March 2017. Taylor has been a fund manager within the real estate team and Rose s deputy since 2013 when he joined the firm. Tariq Bin Hendi chairman of ENBD REIT said: We are sorry to see Tim leave after 7 successful years as head of Real Estate and wish him the very best for the next chapter of his career in his home country of New Zealand. During his tenure ENBD REIT delivered strong and positive returns to investors. Tim played a crucial part in repositioning the portfolio through a series of strate...
Oman s rapidly developing logistics sector is being positioned as the biggest contributor to the country s gross domestic product (GDP) after hydrocarbons the nation s long-standing economic mainstay said a senior Omani government official. The logistics sector has been singled out by the Omani government to hasten the sultanate s economic diversification away from its current reliance on oil and gas to support GDP growth Dr Ahmed bin Mohammed al Futaisi Minister of Transport and Communications was quoted as saying in an Oman Daily Observer report. The official delivered the keynote address at the Oman Ports Conference which was held at the Grand Millennium Muscat yesterday (January 15) it said. Dr Al Futaisi said that the sultanate is aiming for logistics to be a second source of GDP and for Oman to be global log...
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Oman s rapidly developing logistics sector is being positioned as the biggest contributor to the country s gross domestic product (GDP) after hydrocarbons the nation s long-standing economic mainstay said a senior Omani government official. The logistics sector has been singled out by the Omani government to hasten the sultanate s economic diversification away from its current reliance on oil and gas to support GDP growth Dr Ahmed bin Mohammed al Futaisi Minister of Transport and Communications was quoted as saying in an Oman Daily Observer report. The official delivered the keynote address at the Oman Ports Conference which was held at the Grand Millennium Muscat yesterday (January 15) it said. Dr Al Futaisi said that the sultanate is aiming for logistics to be a second source of GDP and for Oman to be global log...
The Dubai Land Department (DLD) has launched its 2018 real estate promotion plan for the Real Estate Investment Management and Promotion Centre the department s investment arm. DLD held a press conference in the presence of Sultan Butti bin Mejren director-general of DLD Majida Ali Rashid assistant director-general and head of the Real Estate Investment Management and Promotion Centre and a number of key partners from development companies and real estate promotion trustee offices reported Wam the Emirates official news agency. Bin Mejren said: We are pleased to begin this year by meeting our colleagues from the local and international media to inform them of our future plans to promote the real estate sector in Dubai. We promise everyone a schedule of activities and events that contribute to enhancing transparency in this sector and strengthening Dubai s position in line with our vision to establish the emirate as the ...
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The Dubai Land Department (DLD) has launched its 2018 real estate promotion plan for the Real Estate Investment Management and Promotion Centre the department s investment arm. DLD held a press conference in the presence of Sultan Butti bin Mejren director-general of DLD Majida Ali Rashid assistant director-general and head of the Real Estate Investment Management and Promotion Centre and a number of key partners from development companies and real estate promotion trustee offices reported Wam the Emirates official news agency. Bin Mejren said: We are pleased to begin this year by meeting our colleagues from the local and international media to inform them of our future plans to promote the real estate sector in Dubai. We promise everyone a schedule of activities and events that contribute to enhancing transparency in this sector and strengthening Dubai s position in line with our vision to establish the emirate as the ...
The construction firm Carillion which has key operations in the Middle East region besides a joint venture with UAE conglomerate Al Futtaim has gone into compulsory liquidation putting tens of thousands of jobs at risk said a report. The company is involved in a host of major UK government projects such as HS2 ( new high-speed rail network from London to Birmingham and to Manchester and Leeds) as well as vital public services including school dinners reported The Guardian. The Carillion decision came after the last-ditch talks by the company s bank lenders at the weekend collapsed. The emergency talks were hosted by the Cabinet Office it stated. Carillion said in statement to the London Stock Exchange: Despite considerable efforts those discussions have not been successful and the board of Carillion has therefore concluded that it had no choice but to take steps to enter into compulsory liquidation with immediate effe...
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The construction firm Carillion which has key operations in the Middle East region besides a joint venture with UAE conglomerate Al Futtaim has gone into compulsory liquidation putting tens of thousands of jobs at risk said a report. The company is involved in a host of major UK government projects such as HS2 ( new high-speed rail network from London to Birmingham and to Manchester and Leeds) as well as vital public services including school dinners reported The Guardian. The Carillion decision came after the last-ditch talks by the company s bank lenders at the weekend collapsed. The emergency talks were hosted by the Cabinet Office it stated. Carillion said in statement to the London Stock Exchange: Despite considerable efforts those discussions have not been successful and the board of Carillion has therefore concluded that it had no choice but to take steps to enter into compulsory liquidation with immediate effe...
Rotana s new Dubai property Sabah Rotana has received been granted approval to begin construction by the Department of Tourism and Commerce Marketing (DTCM). The property will be established under the category rating of five-star and Tourism property . Sabah Rotana a premium property is a collaboration between accomplished property developers RSG Properties and Rotana one of the leading hotel management companies in the region. The establishment will bring together the two leading names of their fields and promises to be a prime addition to the city s iconic skyline. The upscale guest establishment is a 54-storey property with 533 rooms and serviced apartments. Situated on Sheikh Zayed Road it stands in the prime neighbourhood of Sufouh Gardens and offers spectacular views of the Burj Khalifa and Palm Jumeirah. The validation from DTCM follows a stringent multi-layered fr...
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Rotana s new Dubai property Sabah Rotana has received been granted approval to begin construction by the Department of Tourism and Commerce Marketing (DTCM). The property will be established under the category rating of five-star and Tourism property . Sabah Rotana a premium property is a collaboration between accomplished property developers RSG Properties and Rotana one of the leading hotel management companies in the region. The establishment will bring together the two leading names of their fields and promises to be a prime addition to the city s iconic skyline. The upscale guest establishment is a 54-storey property with 533 rooms and serviced apartments. Situated on Sheikh Zayed Road it stands in the prime neighbourhood of Sufouh Gardens and offers spectacular views of the Burj Khalifa and Palm Jumeirah. The validation from DTCM follows a stringent multi-layered fr...
Dubai s real estate market registered solid growth in 2017 with the total transactions surging to more than Dh285 billion ( 77.5 billion) through 69 000 real estate transactions said the annual transactions report released by the Dubai Land Department (DLD) recently. The figures were up 6 per cent in terms of number and 4 per cent in terms of value when compared to Dh275.8 billion for 2015 and increased by 14 per cent in number and 6 per cent in value compared to Dh269 billion for 2016 stated the report which summarizes the market activity over the past year. Commenting on the report Sultan Butti bin Mejren the director general of DLD said: The figures disclosed in the report for total transactions including sales mortgages and others confirm the current strength of the Dubai real estate market in particular when compared against the past two years - 2015 and 2016. The 2017 report sends reassuring messa...
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Dubai s real estate market registered solid growth in 2017 with the total transactions surging to more than Dh285 billion ( 77.5 billion) through 69 000 real estate transactions said the annual transactions report released by the Dubai Land Department (DLD) recently. The figures were up 6 per cent in terms of number and 4 per cent in terms of value when compared to Dh275.8 billion for 2015 and increased by 14 per cent in number and 6 per cent in value compared to Dh269 billion for 2016 stated the report which summarizes the market activity over the past year. Commenting on the report Sultan Butti bin Mejren the director general of DLD said: The figures disclosed in the report for total transactions including sales mortgages and others confirm the current strength of the Dubai real estate market in particular when compared against the past two years - 2015 and 2016. The 2017 report sends reassuring messa...
Emirates Nuclear Energy Corporation (Enec) has achieved a series of significant construction milestones at its Barakah Nuclear Energy Plant including the energisation of the switchyards for Units 3 and 4 and also Unit 2 Main Power Transformer (MTR) besides excitation transformer and unit auxiliary power transformers (UAT). The connection of Units 3 and 4 to the UAE electricity transmission grid is a prerequisite for future testing and allows for the completion of additional auxiliary buildings at both units. Meanwhile the energisation of Unit 2 s MTR Excitation Transformer and UAT allows for the initiation of Hot Functional Testing (HFT). These achievements mark another set of milestones in the safe and steadily progressing construction of Enec s Barakah Nuclear Energy Plant located in the Al Dhafra region of Abu Dhabi. These milestones are a result of our extensive collaboration with our Prime Contractor and Joint...
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Emirates Nuclear Energy Corporation (Enec) has achieved a series of significant construction milestones at its Barakah Nuclear Energy Plant including the energisation of the switchyards for Units 3 and 4 and also Unit 2 Main Power Transformer (MTR) besides excitation transformer and unit auxiliary power transformers (UAT). The connection of Units 3 and 4 to the UAE electricity transmission grid is a prerequisite for future testing and allows for the completion of additional auxiliary buildings at both units. Meanwhile the energisation of Unit 2 s MTR Excitation Transformer and UAT allows for the initiation of Hot Functional Testing (HFT). These achievements mark another set of milestones in the safe and steadily progressing construction of Enec s Barakah Nuclear Energy Plant located in the Al Dhafra region of Abu Dhabi. These milestones are a result of our extensive collaboration with our Prime Contractor and Joint...
At least 2 000 construction workers from India have been stranded in Kuwait for months with their visas expired and no money to return home as their employer Kharafi National a leading construction company in Kuwait has not yet paid them their salaries for nearly a year said a report. These include engineers supervisors drivers plant operators janitors warehouse staff steel fitters and construction workers reported Times of India. With their visas already expired and no money for food these workers who are mostly from the states of Gujarat Uttar Pradesh West Bengal Bihar Rajasthan and Andhra Pradesh are living in dire conditions stated the report. And adding to their misery these workers cannot even go to a hospital as they are illegal residents stated the report citing the workers. With no food to eat or even a blanket to cover themselves with we are suffering in Kuwait. In despair many a...
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At least 2 000 construction workers from India have been stranded in Kuwait for months with their visas expired and no money to return home as their employer Kharafi National a leading construction company in Kuwait has not yet paid them their salaries for nearly a year said a report. These include engineers supervisors drivers plant operators janitors warehouse staff steel fitters and construction workers reported Times of India. With their visas already expired and no money for food these workers who are mostly from the states of Gujarat Uttar Pradesh West Bengal Bihar Rajasthan and Andhra Pradesh are living in dire conditions stated the report. And adding to their misery these workers cannot even go to a hospital as they are illegal residents stated the report citing the workers. With no food to eat or even a blanket to cover themselves with we are suffering in Kuwait. In despair many a...
Commercial infrastructure will be the clear outperformer within the broader construction sector of the UAE in the coming years as economic diversification gathers pace and the various emirates focus on developing higher-value service industries a report said. Twin factors will fuel the outperformance of the UAE s commercial building sector in the coming years explained BMI Research a Fitch Group company in its Middle East and Africa Infrastructure Insight. In the short term Expo 2020 will drive commercial activity in Dubai while over the long-term efforts to diversify revenue streams away from oil and into higher value add service and tourism industries will stimulate investment into commercial building projects particularly in Abu Dhabi. Expo 2020 driving short-term commercial boom Commercial infrastructure growth will be continue to be centred upon Dubai in the short-term largely due to on...
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Commercial infrastructure will be the clear outperformer within the broader construction sector of the UAE in the coming years as economic diversification gathers pace and the various emirates focus on developing higher-value service industries a report said. Twin factors will fuel the outperformance of the UAE s commercial building sector in the coming years explained BMI Research a Fitch Group company in its Middle East and Africa Infrastructure Insight. In the short term Expo 2020 will drive commercial activity in Dubai while over the long-term efforts to diversify revenue streams away from oil and into higher value add service and tourism industries will stimulate investment into commercial building projects particularly in Abu Dhabi. Expo 2020 driving short-term commercial boom Commercial infrastructure growth will be continue to be centred upon Dubai in the short-term largely due to on...
Al Madina Logistics Company a leading Omani logistics services provider has revealed plans to invest in new inland ports and warehouses in various governorates of the sultanate said a report. The government attaches great importance to the development of the logistics sector and infrastructure associated with this promising sector Major General Hassan Ihsan Naseeb chairman of Al Madina Logistics Company and Muscat Container Terminal was quoted as saying in an Oman Daily Observer report. Logistics companies play a pivotal role in increasing investments and assets to keep up with the aspirations of the good government to increase the sector s contribution to competitiveness facilitate trade and create additional job opportunities. Mahmoud Sakhi al Baloushi CEO of Al Madina Logistics and Muscat Container Terminal said that the government s great interest in supporting the logistics sector as one of the mai...
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Al Madina Logistics Company a leading Omani logistics services provider has revealed plans to invest in new inland ports and warehouses in various governorates of the sultanate said a report. The government attaches great importance to the development of the logistics sector and infrastructure associated with this promising sector Major General Hassan Ihsan Naseeb chairman of Al Madina Logistics Company and Muscat Container Terminal was quoted as saying in an Oman Daily Observer report. Logistics companies play a pivotal role in increasing investments and assets to keep up with the aspirations of the good government to increase the sector s contribution to competitiveness facilitate trade and create additional job opportunities. Mahmoud Sakhi al Baloushi CEO of Al Madina Logistics and Muscat Container Terminal said that the government s great interest in supporting the logistics sector as one of the mai...
Gulf Islamic Investments (GII) a UAE-based Islamic financial services company has revealed the acquisition of nearly one-million-sq-ft of logistics facilities on behalf of its investors for 144 million. The two state-of-the-art Grade A logistics centres are located in Dortmund Germany and serves as Amazon s key logistics centres supplying goods to 29 other facilities it said. Rasmala a leading independent investment management group has acted as a strategic co-advisor and co-investor on this acquisition assisting on all aspects of it said a statement. This newly built facilities are leased out to Amazon on a long-term unbreakable lease with regular rental uplifts linked to Germany CPI it added. Mohammed Al-Hassan co- founder and CEO GII said: Our company s real estate investment strategy is to have an exposure to good yielding commercial assets with investment grade tenants. We believe thi...
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Gulf Islamic Investments (GII) a UAE-based Islamic financial services company has revealed the acquisition of nearly one-million-sq-ft of logistics facilities on behalf of its investors for 144 million. The two state-of-the-art Grade A logistics centres are located in Dortmund Germany and serves as Amazon s key logistics centres supplying goods to 29 other facilities it said. Rasmala a leading independent investment management group has acted as a strategic co-advisor and co-investor on this acquisition assisting on all aspects of it said a statement. This newly built facilities are leased out to Amazon on a long-term unbreakable lease with regular rental uplifts linked to Germany CPI it added. Mohammed Al-Hassan co- founder and CEO GII said: Our company s real estate investment strategy is to have an exposure to good yielding commercial assets with investment grade tenants. We believe thi...
Kale Logistics Solutions a leading global IT solutions provider focused on providing cutting edge technology solutions to the logistics industry recently won the Best IT Solution Provider award at the 3rd Logistics and Supply Chain Awards 2017. The award was presented to honour and recognise the technological contribution rendered by Kale Logistics Solutions in the cargo community platform domain said a statement. Organised by Supply Chain Management Professionals (SCMPro) the awards identify and appreciate organisations who have fulfilled their role as industry innovators and have contributed in raising the standards of business excellence across the Indian transport and infrastructure sector it said. Logistics Solutions a trusted IT Logistics partner for Fortune 500 companies worldwide was awarded the Best IT Solution Provider at the recently held 3rd edition of the SCMPro Logistics and Supply Chain ...
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Kale Logistics Solutions a leading global IT solutions provider focused on providing cutting edge technology solutions to the logistics industry recently won the Best IT Solution Provider award at the 3rd Logistics and Supply Chain Awards 2017. The award was presented to honour and recognise the technological contribution rendered by Kale Logistics Solutions in the cargo community platform domain said a statement. Organised by Supply Chain Management Professionals (SCMPro) the awards identify and appreciate organisations who have fulfilled their role as industry innovators and have contributed in raising the standards of business excellence across the Indian transport and infrastructure sector it said. Logistics Solutions a trusted IT Logistics partner for Fortune 500 companies worldwide was awarded the Best IT Solution Provider at the recently held 3rd edition of the SCMPro Logistics and Supply Chain ...
Dubai-based Arenco Real Estate part of A A Al Moosa Enterprises was honoured as the Iconic Real Estate Company of the Year 2017 by the Middle East Excellence Awards Institute. The award was handed to the team by Marwan Ahmed Bin Ghalita CEO of the Real Estate Regulatory Agency (RERA) during a property summit held at Burj Al Arab where Arenco was selected amongst the GCC s Top 25 Property Development Executive Leaders. Arenco was recognised for its outstanding contribution to the UAE s real estate sector for more than 40 years. Mohammad Khoori director Arenco Real Estate said: Arenco Real Estate has set the standard of excellent services and built its reputation for superior quality since its foundation in 1975 and we are honoured of being ranked among the nine property developments which were only selected and met the standards of the Top 25 Property Development Executive Leaders award. This award is a testament...
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Dubai-based Arenco Real Estate part of A A Al Moosa Enterprises was honoured as the Iconic Real Estate Company of the Year 2017 by the Middle East Excellence Awards Institute. The award was handed to the team by Marwan Ahmed Bin Ghalita CEO of the Real Estate Regulatory Agency (RERA) during a property summit held at Burj Al Arab where Arenco was selected amongst the GCC s Top 25 Property Development Executive Leaders. Arenco was recognised for its outstanding contribution to the UAE s real estate sector for more than 40 years. Mohammad Khoori director Arenco Real Estate said: Arenco Real Estate has set the standard of excellent services and built its reputation for superior quality since its foundation in 1975 and we are honoured of being ranked among the nine property developments which were only selected and met the standards of the Top 25 Property Development Executive Leaders award. This award is a testament...
Abdul Rahim Architectural Consultants (Araco) a leading engineering consultant in the UAE will begin its supervisory role on the construction of an approved hospitality project in Dubai s Business Bay work on which has just started. The four-star hotel which is designed to meet standards and classifications outlined by the Dubai Department of Tourism and Commerce Marketing will be one of the newest hospitality projects in the city s buoyant and growing tourism and travel sectors. At present Dubai accounts for 30.3 per cent of hotel rooms or hotel keys in development which translates to 29 200 keys at the end of October 2017 according to a recent report by STR a data benchmarking analytics and marketplace insights company for the global hospitality industry. This figure is the highest for the Middle East and North Africa (Mena) region outpacing Saudi Arabia and spread across 95 hotel projects in Dubai over the coming years...
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Abdul Rahim Architectural Consultants (Araco) a leading engineering consultant in the UAE will begin its supervisory role on the construction of an approved hospitality project in Dubai s Business Bay work on which has just started. The four-star hotel which is designed to meet standards and classifications outlined by the Dubai Department of Tourism and Commerce Marketing will be one of the newest hospitality projects in the city s buoyant and growing tourism and travel sectors. At present Dubai accounts for 30.3 per cent of hotel rooms or hotel keys in development which translates to 29 200 keys at the end of October 2017 according to a recent report by STR a data benchmarking analytics and marketplace insights company for the global hospitality industry. This figure is the highest for the Middle East and North Africa (Mena) region outpacing Saudi Arabia and spread across 95 hotel projects in Dubai over the coming years...
State oil giant Saudi Aramco and The Technical and Vocational Training Corporation (TVTC) have jointly inaugurated a training institute for construction sector in Al Nairiyah region of the kingdom. A stand-alone nonprofit entity the National Construction Training Center (NCTC) provides nine-month academic courses and vocational training in English. The facility boasts lecture halls and training workshops and can handle 600 trainees. The NCTC started its operations back in September with around 240 Saudi trainees and offers training in electrical technologies welding precision devices pipe fitting and occupational safety. The training centre was inaugurated in the presence of Fahad Al Helal the VP of Project Management at Saudi Aramco and other senior executives and professionals from both parties and the training center. Trainees will have the opportunity for on-the-job training with their companies. ...
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State oil giant Saudi Aramco and The Technical and Vocational Training Corporation (TVTC) have jointly inaugurated a training institute for construction sector in Al Nairiyah region of the kingdom. A stand-alone nonprofit entity the National Construction Training Center (NCTC) provides nine-month academic courses and vocational training in English. The facility boasts lecture halls and training workshops and can handle 600 trainees. The NCTC started its operations back in September with around 240 Saudi trainees and offers training in electrical technologies welding precision devices pipe fitting and occupational safety. The training centre was inaugurated in the presence of Fahad Al Helal the VP of Project Management at Saudi Aramco and other senior executives and professionals from both parties and the training center. Trainees will have the opportunity for on-the-job training with their companies. ...
Dubai Land Department (DLD) has launched a new real estate customer service centre titled Cube which gathers 15 service centres under one roof and completes procedures in one day instead of 10. Cube has been established in collaboration with a number of key partners including the General Directorate of Residency and Foreigners Affairs in Dubai the Dubai Police General Command the Dubai Health Authority the Department of Economic Development in Dubai and the Federal Authority for Identity and Citizenship. The Cube project also contributes to positioning Dubai as the best place to live and work attracting foreign capital and encouraging direct and indirect investment in support of Dubai s economy. Majida Ali Rashid assistant director general and head of the Real Estate Investment Management and Promotion Centre at DLD said: We have established Cube In line with the directives of our wise leadership to further develop...
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Dubai Land Department (DLD) has launched a new real estate customer service centre titled Cube which gathers 15 service centres under one roof and completes procedures in one day instead of 10. Cube has been established in collaboration with a number of key partners including the General Directorate of Residency and Foreigners Affairs in Dubai the Dubai Police General Command the Dubai Health Authority the Department of Economic Development in Dubai and the Federal Authority for Identity and Citizenship. The Cube project also contributes to positioning Dubai as the best place to live and work attracting foreign capital and encouraging direct and indirect investment in support of Dubai s economy. Majida Ali Rashid assistant director general and head of the Real Estate Investment Management and Promotion Centre at DLD said: We have established Cube In line with the directives of our wise leadership to further develop...
Dubai s Drydocks World a leading marine onshore and offshore services provider has signed a contract agreement with Dutch-based SBM Offshore to carry out the construction of the turret mooring system (TMS) for Statoil s Johan Castberg floating production storage and offloading (FPSO) vessel. The Johan Castberg FPSO will be permanently moored by the internal TMS at the Johan Castberg field in offshore Norway. The system will allow the vessel to passively weathervane around the anchor legs while simultaneously transferring fluids power and communications signals between the vessel and subsea equipment. Drydocks World will be responsible for detail design of certain specified works bulk procurement and construction including Super Duplex piping work and TLER / TLIR module. Drydocks World has a strong track record in delivering Turret Mooring Systems with an excellent safety and quality record said Mohammad R...
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Dubai s Drydocks World a leading marine onshore and offshore services provider has signed a contract agreement with Dutch-based SBM Offshore to carry out the construction of the turret mooring system (TMS) for Statoil s Johan Castberg floating production storage and offloading (FPSO) vessel. The Johan Castberg FPSO will be permanently moored by the internal TMS at the Johan Castberg field in offshore Norway. The system will allow the vessel to passively weathervane around the anchor legs while simultaneously transferring fluids power and communications signals between the vessel and subsea equipment. Drydocks World will be responsible for detail design of certain specified works bulk procurement and construction including Super Duplex piping work and TLER / TLIR module. Drydocks World has a strong track record in delivering Turret Mooring Systems with an excellent safety and quality record said Mohammad R...
Oman-based Ras Al Hamra Development is set to close the Marjan beach widely known as PDO beach for the public due to the ongoing construction work said a report. The announcement comes as PDO continues with the second phase of the Ras Al Hamra development project that will be home to 1 100 families by 2023 reported Times of Oman. Ras Al Hamra Development is a 28-hectare sustainable city project that will have 1 067 houses a mix of apartments townhouses terraced houses and villas in the next five years. Phase One of the project saw the installation of a 33kV substation expansion of road to dual carriageway floodlit golf course medical clinic mosque kindergarten and primary school as well as 272 residential units. The project incorporates solar street lighting and solar rooftop PVs in future phases stated the report citing a senior official. Works on Phase 2B of the Ras Al Hamra...
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Oman-based Ras Al Hamra Development is set to close the Marjan beach widely known as PDO beach for the public due to the ongoing construction work said a report. The announcement comes as PDO continues with the second phase of the Ras Al Hamra development project that will be home to 1 100 families by 2023 reported Times of Oman. Ras Al Hamra Development is a 28-hectare sustainable city project that will have 1 067 houses a mix of apartments townhouses terraced houses and villas in the next five years. Phase One of the project saw the installation of a 33kV substation expansion of road to dual carriageway floodlit golf course medical clinic mosque kindergarten and primary school as well as 272 residential units. The project incorporates solar street lighting and solar rooftop PVs in future phases stated the report citing a senior official. Works on Phase 2B of the Ras Al Hamra...
Bee ah a leading UAE-based environmental management company has achieved a major construction milestone with the topping out of its headquarters building in Sharjah UAE. The tower which has been designed by Zaha Hadid Architects (ZHA) is due for completion by the end of 2018. The company commemorated the completion of the highest point of the structure with a topping out ceremony held recently at the site location in Al Saj ah. With 270 construction workers engineers and managers on site the steelwork for the massive structure has been completed while the architectural concrete dome which forms the centrepiece of the project has been put in place said the statement from the company. Mechanical and electrical fixing work is progressing rapidly across the site while internal work is also underway. Construction on external envelopes for the roof and walls is ongoing. This structure and façade work...
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Bee ah a leading UAE-based environmental management company has achieved a major construction milestone with the topping out of its headquarters building in Sharjah UAE. The tower which has been designed by Zaha Hadid Architects (ZHA) is due for completion by the end of 2018. The company commemorated the completion of the highest point of the structure with a topping out ceremony held recently at the site location in Al Saj ah. With 270 construction workers engineers and managers on site the steelwork for the massive structure has been completed while the architectural concrete dome which forms the centrepiece of the project has been put in place said the statement from the company. Mechanical and electrical fixing work is progressing rapidly across the site while internal work is also underway. Construction on external envelopes for the roof and walls is ongoing. This structure and façade work...
Binzagr Company a leading distributor in Saudi Arabia has purchased 163 453 sq m of land in the Industrial Valley at King Abdullah Economic City (KAEC) to set up a new logistics centre aiming to bolster its customer services. The new facility will also guarantee the quality of Binzagr s products in addition to enhancing the speed flexibility of movement and transportation of its products around the Kingdom through the land bridge. The new land purchase will add to its previous acquisition of 300 000 sq m in the Industrial Valley. Construction is expected to commence by Q2 2018 and the first production line is scheduled to be operational by Q3 2019. Establishing these new facilities reflects Binzagr s confidence in the Industrial Valley s standing as well as the features that characterize it as a major logistics centre on the Red Sea serving the entire region including Saudi Arabia the GCC countries and the Mena...
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Binzagr Company a leading distributor in Saudi Arabia has purchased 163 453 sq m of land in the Industrial Valley at King Abdullah Economic City (KAEC) to set up a new logistics centre aiming to bolster its customer services. The new facility will also guarantee the quality of Binzagr s products in addition to enhancing the speed flexibility of movement and transportation of its products around the Kingdom through the land bridge. The new land purchase will add to its previous acquisition of 300 000 sq m in the Industrial Valley. Construction is expected to commence by Q2 2018 and the first production line is scheduled to be operational by Q3 2019. Establishing these new facilities reflects Binzagr s confidence in the Industrial Valley s standing as well as the features that characterize it as a major logistics centre on the Red Sea serving the entire region including Saudi Arabia the GCC countries and the Mena...
The American University of Sharjah Enterprises (AUSE) and American University of Sharjah (AUS) recently held a three-day workshop on robotics and 3D printing in construction industry. The objective was to highlight potential opportunities in research and development in construction and introducing how robotics and automation could help increase cost-effectiveness and reduce labour requirements and construction waste. During the event the AUS also showcased some of the best 3D printing projects of its senior students. The robotics and 3D printing in the construction industry workshop is in line with AUSE s commitment to boost scientific and technical innovations that support Sharjah s efforts in building a knowledge-based economy said the statement from the university. Ause has further encouraged this step by adopting robotics and 3D printing as construction tools. Prospects for the 3D printing in cons...
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The American University of Sharjah Enterprises (AUSE) and American University of Sharjah (AUS) recently held a three-day workshop on robotics and 3D printing in construction industry. The objective was to highlight potential opportunities in research and development in construction and introducing how robotics and automation could help increase cost-effectiveness and reduce labour requirements and construction waste. During the event the AUS also showcased some of the best 3D printing projects of its senior students. The robotics and 3D printing in the construction industry workshop is in line with AUSE s commitment to boost scientific and technical innovations that support Sharjah s efforts in building a knowledge-based economy said the statement from the university. Ause has further encouraged this step by adopting robotics and 3D printing as construction tools. Prospects for the 3D printing in cons...
The introduction of value added tax (VAT) in the UAE from next month will provide major new incentives for institutional investors to enter the Dubai real estate market according to the head of one of the country s largest brokerages. Firas Al Msaddi CEO of fäm Properties believes that the new level of transparency in real estate transactions brought about by the introduction of VAT will provide a vital extra incentive to institutional investors. From January 1 2018 the new 5 per cent VAT Law will be applied to all products and services in the UAE unless exempted or zero rated by federal law and Al Msaddi said that Dubai real estate will benefit from a more open and clear system in which to invest. When you consider the audit related implications of VAT across almost every industry and particularly in real estate combined with the government initiatives of open source data the market becomes increasingly attrac...
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The introduction of value added tax (VAT) in the UAE from next month will provide major new incentives for institutional investors to enter the Dubai real estate market according to the head of one of the country s largest brokerages. Firas Al Msaddi CEO of fäm Properties believes that the new level of transparency in real estate transactions brought about by the introduction of VAT will provide a vital extra incentive to institutional investors. From January 1 2018 the new 5 per cent VAT Law will be applied to all products and services in the UAE unless exempted or zero rated by federal law and Al Msaddi said that Dubai real estate will benefit from a more open and clear system in which to invest. When you consider the audit related implications of VAT across almost every industry and particularly in real estate combined with the government initiatives of open source data the market becomes increasingly attrac...
Green Valley Real Estate Group a leading real estate development and investment company said it has signed a partnership agreement with UAE-based Central Hotel Management Group. As per the deal Central will be managing Green Valley s hotel project in a move that represents a new unique cooperation model among national Emirati companies. This cooperation will kick off shortly by managing a number of Green Valley s projects in Turkey followed by projects in Morocco Georgia and Bosnia said Ali Al Salami the director general of Green Valley Real Estate Group after signing the agreement with Ahmad Al Abdullah Al Ansari the chairman of Central Hotel Management. Established in 2004 the Green Valley Real Estate Group owns a total of 42 real estate development projects across the globe. The partnership will guarantee...
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Green Valley Real Estate Group a leading real estate development and investment company said it has signed a partnership agreement with UAE-based Central Hotel Management Group. As per the deal Central will be managing Green Valley s hotel project in a move that represents a new unique cooperation model among national Emirati companies. This cooperation will kick off shortly by managing a number of Green Valley s projects in Turkey followed by projects in Morocco Georgia and Bosnia said Ali Al Salami the director general of Green Valley Real Estate Group after signing the agreement with Ahmad Al Abdullah Al Ansari the chairman of Central Hotel Management. Established in 2004 the Green Valley Real Estate Group owns a total of 42 real estate development projects across the globe. The partnership will guarantee...
UAE-based Arenco Real Estate sees a stronger real estate market for Dubai in the coming years due to unlimited opportunities that are open and available to investors. Home to more than 200 nationalities Dubai is one of the world s most diverse places to live and work and has become a real estate investment destination for the rich and famous from all over the world. Girish M. Thakkar property manager Arenco Real Estate said: Investors are highly interested in Dubai real estate market because of the high return on investment. Dubai will always set itself apart because of its diversified offering and those looking to invest can be confident because of the well placed regulations. Arenco Real Estate was the Official Property Partner of the recently held Global Property Consultant Summit which brought together experts investors and real estate developers who discussed specifically on the GCC Real Estate future chall...
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UAE-based Arenco Real Estate sees a stronger real estate market for Dubai in the coming years due to unlimited opportunities that are open and available to investors. Home to more than 200 nationalities Dubai is one of the world s most diverse places to live and work and has become a real estate investment destination for the rich and famous from all over the world. Girish M. Thakkar property manager Arenco Real Estate said: Investors are highly interested in Dubai real estate market because of the high return on investment. Dubai will always set itself apart because of its diversified offering and those looking to invest can be confident because of the well placed regulations. Arenco Real Estate was the Official Property Partner of the recently held Global Property Consultant Summit which brought together experts investors and real estate developers who discussed specifically on the GCC Real Estate future chall...
Prolonged economic headwinds have meant that Abu Dhabi s real estate market has continued to stagnate during 2017 with the majority of sale and lease activity driven by affordability and incentives being offered by landlords and developers according to leading international real estate consultants Cluttons. The rental market has been relatively more buoyant than the sales market with higher levels of activity compared to this time last year stated Cluttons in its Winter 2017/18 Abu Dhabi Property Market Outlook report. A lot of demand stems from households relocating to make savings and to take advantage of incentives being offered by landlords said the report. These include the accepting of rental payments through multiple cheques as well as a growing number of landlords who are willing to pay agency fees which is often up to 5 per cent of the annual agreed rent it added. Faisal Durrani the head of researc...
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Prolonged economic headwinds have meant that Abu Dhabi s real estate market has continued to stagnate during 2017 with the majority of sale and lease activity driven by affordability and incentives being offered by landlords and developers according to leading international real estate consultants Cluttons. The rental market has been relatively more buoyant than the sales market with higher levels of activity compared to this time last year stated Cluttons in its Winter 2017/18 Abu Dhabi Property Market Outlook report. A lot of demand stems from households relocating to make savings and to take advantage of incentives being offered by landlords said the report. These include the accepting of rental payments through multiple cheques as well as a growing number of landlords who are willing to pay agency fees which is often up to 5 per cent of the annual agreed rent it added. Faisal Durrani the head of researc...
More than 300 scientists and researchers from across the globe will discuss the use of sustainable applications and 3D technology in construction sector at a key industry event in Dubai UAE. The 5th International Conference on Sustainable Building Materials is being organised by Dubai Central Laboratory (DCL) of Dubai Municipality from December 13 to 14. The summit will include five main sessions covering various issues related to sustainable buildings and roads and green and environmentally friendly technology said a statement from Dubai Municipality. It will be accompanied by an exhibition with ten stalls with the participation of Dubai Municipality and the Office of Expo 2020 as well as a number of institutions and companies that will exhibit the most important building materials products and systems with smart and modern technologies it stated. Khaled Sharif Al Awadhi the assistant director general for Environme...
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More than 300 scientists and researchers from across the globe will discuss the use of sustainable applications and 3D technology in construction sector at a key industry event in Dubai UAE. The 5th International Conference on Sustainable Building Materials is being organised by Dubai Central Laboratory (DCL) of Dubai Municipality from December 13 to 14. The summit will include five main sessions covering various issues related to sustainable buildings and roads and green and environmentally friendly technology said a statement from Dubai Municipality. It will be accompanied by an exhibition with ten stalls with the participation of Dubai Municipality and the Office of Expo 2020 as well as a number of institutions and companies that will exhibit the most important building materials products and systems with smart and modern technologies it stated. Khaled Sharif Al Awadhi the assistant director general for Environme...
Dubai Land Department (DLD) said its Ejari smart application protects rights of all parties in real estate sector including the property owners and tenants and also the management companies. Following new upgrades by DLD the application has gained an even higher level of efficiency in boosting user productivity reducing the cost and time needed to complete lease registrations and most importantly consolidating transparency in Dubai s real estate sector said the statement from the department. The Ejari application is a tool that allows both landlords and tenants to manage maintenance contracts and create related paperwork. It also allows property management companies to register and manage personnel and maintenance requests and contracts and also classifies all companies registered in the system it stated. Commenting on the upgrades Mohamed Yahya the deputy executive director of the Rental Aff...
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Dubai Land Department (DLD) said its Ejari smart application protects rights of all parties in real estate sector including the property owners and tenants and also the management companies. Following new upgrades by DLD the application has gained an even higher level of efficiency in boosting user productivity reducing the cost and time needed to complete lease registrations and most importantly consolidating transparency in Dubai s real estate sector said the statement from the department. The Ejari application is a tool that allows both landlords and tenants to manage maintenance contracts and create related paperwork. It also allows property management companies to register and manage personnel and maintenance requests and contracts and also classifies all companies registered in the system it stated. Commenting on the upgrades Mohamed Yahya the deputy executive director of the Rental Aff...
Leading experts and specialists in the field of construction and sustainability from across the globe were at the 12th edition of the Middle East Drymix Conference held in Sharjah UAE recently. Sponsored by University of Sharjah the summit was held under the For the Sustainability of Construction and Building Materials slogan. The event saw experts discuss several key issues ideas initiatives and proposals aimed at improving the world of construction and its sustainability. Dr Hamid Majul Al Nuaimi Chancellor of the University of Sharjah said: Experts and specialists in this field sat together and discussed within the objectives and domains of this conference Drymix mortar as compared to current materials used in building and construction for which billions of dollars are spent in the country annually. In addition to the billions spent on such for maintenance and restorati...
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Leading experts and specialists in the field of construction and sustainability from across the globe were at the 12th edition of the Middle East Drymix Conference held in Sharjah UAE recently. Sponsored by University of Sharjah the summit was held under the For the Sustainability of Construction and Building Materials slogan. The event saw experts discuss several key issues ideas initiatives and proposals aimed at improving the world of construction and its sustainability. Dr Hamid Majul Al Nuaimi Chancellor of the University of Sharjah said: Experts and specialists in this field sat together and discussed within the objectives and domains of this conference Drymix mortar as compared to current materials used in building and construction for which billions of dollars are spent in the country annually. In addition to the billions spent on such for maintenance and restorati...
With nearly 33 billion worth of projects in the pipeline for Expo 2020 a first-of-its-kind event in the Middle East Africa and South Asia region it s boom time for the real estate sector in Dubai said an industry expert. Making its debut in the Middle East region the mega international event will positively affect almost all sectors in the emirate such as tourism aviation hospitality and infrastructure. However the biggest benefactor of the Expo 2020 will be the real estate sector. The Expo 2020 is likely to draw more than 25 million visitors to the emirate during the six-month period. And the onus is now on the major global players in the real estate both inside and outside the emirate to finish off their projects in time to accommodate the sea of visitors flying into Dubai. As with the extra 5-stars hotels needed to serve Expo 2020 attendees the real estate sector is in for a busy few years on top of the bulging order books...
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With nearly 33 billion worth of projects in the pipeline for Expo 2020 a first-of-its-kind event in the Middle East Africa and South Asia region it s boom time for the real estate sector in Dubai said an industry expert. Making its debut in the Middle East region the mega international event will positively affect almost all sectors in the emirate such as tourism aviation hospitality and infrastructure. However the biggest benefactor of the Expo 2020 will be the real estate sector. The Expo 2020 is likely to draw more than 25 million visitors to the emirate during the six-month period. And the onus is now on the major global players in the real estate both inside and outside the emirate to finish off their projects in time to accommodate the sea of visitors flying into Dubai. As with the extra 5-stars hotels needed to serve Expo 2020 attendees the real estate sector is in for a busy few years on top of the bulging order books...
China-based Sany Heavy Industry signed a 86 million purchasing agreement with a Kuwaiti engineering construction contractor on November 15 which is Sany s largest international order in Middle East market so far. Sany will provide a full range of its products to its Kuwaiti customer including more than 600 truck cranes excavators and rotary drilling rigs. Xiang Wenbo president of Sany Heavy Industry and Zhou Wanchun chairman of Sany International Headquarters attended the signing ceremony. The 600 machines will be used in Kuwait s national infrastructure projects which are expected to great promote the implementation of Belt and Road Initiative in Middle East. Sany has always regarded product quality and service as its core competitiveness in the overseas markets Xiang said. Sany has invested heavily to build the perfect marketing service network establishing Sany s unique ser...
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China-based Sany Heavy Industry signed a 86 million purchasing agreement with a Kuwaiti engineering construction contractor on November 15 which is Sany s largest international order in Middle East market so far. Sany will provide a full range of its products to its Kuwaiti customer including more than 600 truck cranes excavators and rotary drilling rigs. Xiang Wenbo president of Sany Heavy Industry and Zhou Wanchun chairman of Sany International Headquarters attended the signing ceremony. The 600 machines will be used in Kuwait s national infrastructure projects which are expected to great promote the implementation of Belt and Road Initiative in Middle East. Sany has always regarded product quality and service as its core competitiveness in the overseas markets Xiang said. Sany has invested heavily to build the perfect marketing service network establishing Sany s unique ser...
Jebel Ali Free Zone (Jafza) a subsidiary of Dubai-based ports operator DP World said that it attracted about 26 steel and construction material companies from 17 countries during the first eight months of 2017. The Middle East acquired the lion s share of these companies with 11 firms followed by Europe and Asia-Pacific region with eight and seven companies respectively reported Emirates news agency Wam citing a Jafza statement. The steel and construction materials companies are expected to maintain their growth in the coming years on the back of the huge volume of the construction projects in the Middle East DP World s Chairman Sultan Ahmed bin Sulayem stated. Jafza has allocated 1.1 million sq m of land for steel and building material companies which highlights their importance. This is part of our support of the vision of the country s leadership to diversify the national economy in a post...
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Jebel Ali Free Zone (Jafza) a subsidiary of Dubai-based ports operator DP World said that it attracted about 26 steel and construction material companies from 17 countries during the first eight months of 2017. The Middle East acquired the lion s share of these companies with 11 firms followed by Europe and Asia-Pacific region with eight and seven companies respectively reported Emirates news agency Wam citing a Jafza statement. The steel and construction materials companies are expected to maintain their growth in the coming years on the back of the huge volume of the construction projects in the Middle East DP World s Chairman Sultan Ahmed bin Sulayem stated. Jafza has allocated 1.1 million sq m of land for steel and building material companies which highlights their importance. This is part of our support of the vision of the country s leadership to diversify the national economy in a post...
The combined value of the 11 755 active construction projects in the UAE has exceeded 818.2 billion (around Dh3 trillion) in November 2017 according to latest UAE Construction Analytics report issued by BNC Network a major project research and intelligence provider in the Mena region. This makes the UAE which is the second largest Arab economy the largest construction market in the Arab World and the Mena region reported Wam the Emirates official news agency. The UAE s 11 755 construction projects constitutes 52 per cent of 22 680 active construction projects in the GCC and in terms of value these projects account for 33.6 per cent of the total estimated value of the GCC construction projects worth 2.43 trillion said Avin Gidwani chief executive officer of BNC Network. The UAE s futuristic and visionary leadership is determined to utilise the current resources in their best abilities to...
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The combined value of the 11 755 active construction projects in the UAE has exceeded 818.2 billion (around Dh3 trillion) in November 2017 according to latest UAE Construction Analytics report issued by BNC Network a major project research and intelligence provider in the Mena region. This makes the UAE which is the second largest Arab economy the largest construction market in the Arab World and the Mena region reported Wam the Emirates official news agency. The UAE s 11 755 construction projects constitutes 52 per cent of 22 680 active construction projects in the GCC and in terms of value these projects account for 33.6 per cent of the total estimated value of the GCC construction projects worth 2.43 trillion said Avin Gidwani chief executive officer of BNC Network. The UAE s futuristic and visionary leadership is determined to utilise the current resources in their best abilities to...
There has been a sharp increase in the number of international exhibitors mainly from European Union at this year s Big 5 construction expo owing to the continued expansion of building activities in the GCC region said the event organisers. Over 2 500 companies from 60 countries have chosen to come and exhibit their construction products and solutions at The Big 5 in Dubai this year. Some of these are participating to the event for the first time proving that the UAE are now more than ever the place to be for international construction players remarked Josine Heijmans the portfolio event director of The Big 5. More than that we expect 79 000 visitors from over 140 countries to attend the 38th edition of the show; that s a clear proof of Dubai s recognized role as a leading business hub which extends well beyond the Middle East region stated Heijmans. The UAE has witnessed ...
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There has been a sharp increase in the number of international exhibitors mainly from European Union at this year s Big 5 construction expo owing to the continued expansion of building activities in the GCC region said the event organisers. Over 2 500 companies from 60 countries have chosen to come and exhibit their construction products and solutions at The Big 5 in Dubai this year. Some of these are participating to the event for the first time proving that the UAE are now more than ever the place to be for international construction players remarked Josine Heijmans the portfolio event director of The Big 5. More than that we expect 79 000 visitors from over 140 countries to attend the 38th edition of the show; that s a clear proof of Dubai s recognized role as a leading business hub which extends well beyond the Middle East region stated Heijmans. The UAE has witnessed ...
Preparations for the mega Expo 2020 Dubai event are firmly on track with Dh10.8 billion ( 2.9 billion) worth of construction contracts already awarded this year besides the Dh411 million worth of non-construction contracts said the event organisers during a dedicated Procurement Conference. Expo 2020 Dubai will run for six months from October 20 2020 to April 10 2021 and is expected to attract 25 million visits with 70 per cent anticipated to come from outside the UAE. Through its overall theme Connecting Minds Creating the Future Expo 2020 Dubai will be a platform to foster creativity innovation and collaboration globally. It will be a celebration of ingenuity that gives people a glimpse into the future guided by its three pillars: Opportunity Mobility and Sustainability the organisers stated. The conference was mainly organised to update companies on the progress made on the Expo 2020 projects besides ...
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Preparations for the mega Expo 2020 Dubai event are firmly on track with Dh10.8 billion ( 2.9 billion) worth of construction contracts already awarded this year besides the Dh411 million worth of non-construction contracts said the event organisers during a dedicated Procurement Conference. Expo 2020 Dubai will run for six months from October 20 2020 to April 10 2021 and is expected to attract 25 million visits with 70 per cent anticipated to come from outside the UAE. Through its overall theme Connecting Minds Creating the Future Expo 2020 Dubai will be a platform to foster creativity innovation and collaboration globally. It will be a celebration of ingenuity that gives people a glimpse into the future guided by its three pillars: Opportunity Mobility and Sustainability the organisers stated. The conference was mainly organised to update companies on the progress made on the Expo 2020 projects besides ...
The combined value of the 22 680 active construction projects across the GCC has exceeded Dh8.91 trillion ( 2.43 trillion) in November according to latest GCC Construction Analytics report issued by BNC Network a key project research and intelligence provider in the Middle East and North Africa (Mena) region. Of these the urban construction sector has the highest number of projects touching 17 912 worth 1.21 trillion followed by utilities sector with 1 701 transport sector having 1 423 industrial with 1 289 and 355 oil and gas projects. However combined value of 1 423 transport projects surged to 387.6 billion followed by oil and gas projects valued at 337 billion utilities worth 313 billion and industrial project value reaching 178.6 billion. The construction boom comes as Gulf countries continue to invest in the building sector to diversify the region s 1.4 trillion economy and prepare for post-oil era stated th...
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The combined value of the 22 680 active construction projects across the GCC has exceeded Dh8.91 trillion ( 2.43 trillion) in November according to latest GCC Construction Analytics report issued by BNC Network a key project research and intelligence provider in the Middle East and North Africa (Mena) region. Of these the urban construction sector has the highest number of projects touching 17 912 worth 1.21 trillion followed by utilities sector with 1 701 transport sector having 1 423 industrial with 1 289 and 355 oil and gas projects. However combined value of 1 423 transport projects surged to 387.6 billion followed by oil and gas projects valued at 337 billion utilities worth 313 billion and industrial project value reaching 178.6 billion. The construction boom comes as Gulf countries continue to invest in the building sector to diversify the region s 1.4 trillion economy and prepare for post-oil era stated th...
The Dubai Real Estate Institute (DREI) the educational arm of Dubai Land Department (DLD) and Awards International has announced the launch of the second edition of the Gulf Real Estate Awards. The awards programme aims to reward innovation in the real estate market and encourage best practices among all real estate professionals including developers brokers contractors consultants and engineers as well as facilities management and legal companies. Mahmoud El Burai CEO of DREI said: The Gulf Real Estate Awards are of paramount importance and set a gold standard in the real estate sector as the programme is organised and supervised by DLD. We have selected a group of experts and specialists in each award category to create an elite judging panel that demonstrates high levels of integrity and transparency while judging entries according to results-based benchmarks. The awards programme aims to create a culture...
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The Dubai Real Estate Institute (DREI) the educational arm of Dubai Land Department (DLD) and Awards International has announced the launch of the second edition of the Gulf Real Estate Awards. The awards programme aims to reward innovation in the real estate market and encourage best practices among all real estate professionals including developers brokers contractors consultants and engineers as well as facilities management and legal companies. Mahmoud El Burai CEO of DREI said: The Gulf Real Estate Awards are of paramount importance and set a gold standard in the real estate sector as the programme is organised and supervised by DLD. We have selected a group of experts and specialists in each award category to create an elite judging panel that demonstrates high levels of integrity and transparency while judging entries according to results-based benchmarks. The awards programme aims to create a culture...
The GCC construction market showed relative resilience in its performance depicting a 30 per cent pick-up in 2017-to-date according to a new study by Mena Research Partners a leading research company in the region. With total GCC active projects at around 2.6 trillion equivalent to 160 per cent of GDP the regional construction market presents sufficient depth and opportunities for investors and regional market participants over the years to come it stated. Despite the recent years headwinds that extended from oil price slump to budget adjustments in many GCC countries the region witnessed 130 billion of completed projects during 2017 compared to 100 billion last year. Such numbers remain at par with an annual average of 135 billion during the 2009-2014 period it added. Anthony Hobeika the chief executive at Mena Research Partners said: This surge is driven by economic diversification away from h...
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The GCC construction market showed relative resilience in its performance depicting a 30 per cent pick-up in 2017-to-date according to a new study by Mena Research Partners a leading research company in the region. With total GCC active projects at around 2.6 trillion equivalent to 160 per cent of GDP the regional construction market presents sufficient depth and opportunities for investors and regional market participants over the years to come it stated. Despite the recent years headwinds that extended from oil price slump to budget adjustments in many GCC countries the region witnessed 130 billion of completed projects during 2017 compared to 100 billion last year. Such numbers remain at par with an annual average of 135 billion during the 2009-2014 period it added. Anthony Hobeika the chief executive at Mena Research Partners said: This surge is driven by economic diversification away from h...
The construction sector in Saudi Arabia is poised for solid growth with over 4 700 active construction projects worth 852.3 billion and more than 700 projects set to begin work in the next few months said a report released ahead of a major industry event to be held next year in Jeddah. The eighth edition of The Big 5 Saudi a premier construction event in the region will run from March 5 to 8 at the Jeddah Center for Forums & Events. Of these active projects around 170 of them are worth 1 billion or more stated the report prepared by BNC Network for Big 5 Saudi indicating the tremendous growth potential of the kingdom s construction market. Nineteen months after its announcement Saudi Vision 2030 is proving effective with the kingdom s construction sector showing increased growth potential said the report titled Saudi Arabia s Construction Market Overview 2018 and Beyond. ...
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The construction sector in Saudi Arabia is poised for solid growth with over 4 700 active construction projects worth 852.3 billion and more than 700 projects set to begin work in the next few months said a report released ahead of a major industry event to be held next year in Jeddah. The eighth edition of The Big 5 Saudi a premier construction event in the region will run from March 5 to 8 at the Jeddah Center for Forums & Events. Of these active projects around 170 of them are worth 1 billion or more stated the report prepared by BNC Network for Big 5 Saudi indicating the tremendous growth potential of the kingdom s construction market. Nineteen months after its announcement Saudi Vision 2030 is proving effective with the kingdom s construction sector showing increased growth potential said the report titled Saudi Arabia s Construction Market Overview 2018 and Beyond. ...
A panel of industry experts have shortlisted nine green construction products currently being distributed in the region for the Gaia Awards 2017. The winner will be announced at the upcoming Big 5 construction expo in Dubai. A panel of industry experts with acclaimed credentials have shortlisted the top green construction products that are currently being distributed in the Middle East and North Africa (Mena) region. The winner will be announced on November 28 at the Dubai World Trade Centre during the Big 5 construction expo. Adding a global perspective from the judges table Professor of Civil Engineering & Dean of the School of Engineering American University in Dubai Dr Alaa K. Ashmawy said the construction industry worldwide is responsible for a large proportion of carbon dioxide emissions and greenhouse gases. The inclusion of the Gaia Awards within The Big 5 exhibition and The Big 5 Solar conveys a stron...
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A panel of industry experts have shortlisted nine green construction products currently being distributed in the region for the Gaia Awards 2017. The winner will be announced at the upcoming Big 5 construction expo in Dubai. A panel of industry experts with acclaimed credentials have shortlisted the top green construction products that are currently being distributed in the Middle East and North Africa (Mena) region. The winner will be announced on November 28 at the Dubai World Trade Centre during the Big 5 construction expo. Adding a global perspective from the judges table Professor of Civil Engineering & Dean of the School of Engineering American University in Dubai Dr Alaa K. Ashmawy said the construction industry worldwide is responsible for a large proportion of carbon dioxide emissions and greenhouse gases. The inclusion of the Gaia Awards within The Big 5 exhibition and The Big 5 Solar conveys a stron...
Jet Fuel Company (BJFCo) a joint venture between nogaholding and Bahrain Airport Company (BAC) has started work on the construction of its fuel tanks which will be ready by March 2019 said a report. BJFCo will be in charge of transporting jet fuel within the airport as well as for the operation and maintenance of the new tanks reported BNA citing senior officials at the regular weekly Cabinet session which was chaired by HRH Prime Minister Prince Khalifa bin Salman Al Khalifa at Gudaibiya Palace yesterday (November 20). BJFCo has in April signed aviation fueling restructuring agreements for Bahrain International Airport (BIA) with several companies including Bafco Chevron BP nogaholding and Bapco. These deals will result in a more streamlined and efficient aviation fuel supply operation and maintenance process at the airport said the report. The cabinet also took note of the completion of the necessary foun...
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Jet Fuel Company (BJFCo) a joint venture between nogaholding and Bahrain Airport Company (BAC) has started work on the construction of its fuel tanks which will be ready by March 2019 said a report. BJFCo will be in charge of transporting jet fuel within the airport as well as for the operation and maintenance of the new tanks reported BNA citing senior officials at the regular weekly Cabinet session which was chaired by HRH Prime Minister Prince Khalifa bin Salman Al Khalifa at Gudaibiya Palace yesterday (November 20). BJFCo has in April signed aviation fueling restructuring agreements for Bahrain International Airport (BIA) with several companies including Bafco Chevron BP nogaholding and Bapco. These deals will result in a more streamlined and efficient aviation fuel supply operation and maintenance process at the airport said the report. The cabinet also took note of the completion of the necessary foun...
Smart Cities and mega-projects will help boost the GCC construction sector to 2 trillion by 2020 driving strong demand for professional audiovisual solutions from interactive digital signage to massive back-end control rooms said industry experts. As complex mega-projects such as Expo 2020 Dubai and the technology-infused Neom City in Saudi Arabia come to life the developers are increasingly investing in professional audiovisual solutions across airports hotels and resorts and mega-event sites they stated. Expo 2020 Dubai will be the Middle East s showcase event for how professional lighting audio visual digital signage and back-end control systems can optimize the guest visitor and citizen experience stated Jacob Thomas the general manager at Dutco Tennant one of the UAE s largest engineering conglomerates which has helped to develop a wide range of UAE mega-projects. Middle East Smart Cit...
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Smart Cities and mega-projects will help boost the GCC construction sector to 2 trillion by 2020 driving strong demand for professional audiovisual solutions from interactive digital signage to massive back-end control rooms said industry experts. As complex mega-projects such as Expo 2020 Dubai and the technology-infused Neom City in Saudi Arabia come to life the developers are increasingly investing in professional audiovisual solutions across airports hotels and resorts and mega-event sites they stated. Expo 2020 Dubai will be the Middle East s showcase event for how professional lighting audio visual digital signage and back-end control systems can optimize the guest visitor and citizen experience stated Jacob Thomas the general manager at Dutco Tennant one of the UAE s largest engineering conglomerates which has helped to develop a wide range of UAE mega-projects. Middle East Smart Cit...
Emirates Nuclear Energy Corporation (Enec) and its Korean joint venture partner Kepco have achieved a series of construction milestones on the units of the Barakah Plant with the successful installation of reactor containment building liner dome section and completion of concrete pouring for the dome on Unit 3. The construction on the nuclear project began in 2012 and the overall completion of the four units is now more than 84 per cent complete with Unit 1 now more than 96 per cent complete. Once the four reactors are online the facility will deliver up to a quarter of the UAE s electricity needs and save up to 21 million tons of carbon emissions every year said senior officials from Enec. With four identical reactors being built simultaneously the Barakah Plant located in the Al Dhafra Region of Abu Dhabi is the world s largest nuclear new build project. During the year the project saw the installati...
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Emirates Nuclear Energy Corporation (Enec) and its Korean joint venture partner Kepco have achieved a series of construction milestones on the units of the Barakah Plant with the successful installation of reactor containment building liner dome section and completion of concrete pouring for the dome on Unit 3. The construction on the nuclear project began in 2012 and the overall completion of the four units is now more than 84 per cent complete with Unit 1 now more than 96 per cent complete. Once the four reactors are online the facility will deliver up to a quarter of the UAE s electricity needs and save up to 21 million tons of carbon emissions every year said senior officials from Enec. With four identical reactors being built simultaneously the Barakah Plant located in the Al Dhafra Region of Abu Dhabi is the world s largest nuclear new build project. During the year the project saw the installati...
Dubai-based global marine terminal operator DP World has signed a memorandum of understanding with the Government of Mali for the development of trade and logistics at the Investment Corporation of Dubai (ICD) Global Investment Forum held in Dubai UAE today (November 16). At the conference DP World Group chairman and CEO Sultan Ahmed Bin Sulayem met with Ibrahim Boubacar Keita President of Mali and signed an agreement under which DP World in partnership with the Government of Mali will develop a master plan to enhance trade and logistics and unlock the resource rich country s economic potential said a statement from the company. The plan includes a transportation and logistics strategy with electronic customs processes replicating DP World s successful model with Dubai trade at its flagship Jebel Ali Port and Freezone in Dubai it said. The partners will continue discussions and carry out due diligence studies on ...
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Dubai-based global marine terminal operator DP World has signed a memorandum of understanding with the Government of Mali for the development of trade and logistics at the Investment Corporation of Dubai (ICD) Global Investment Forum held in Dubai UAE today (November 16). At the conference DP World Group chairman and CEO Sultan Ahmed Bin Sulayem met with Ibrahim Boubacar Keita President of Mali and signed an agreement under which DP World in partnership with the Government of Mali will develop a master plan to enhance trade and logistics and unlock the resource rich country s economic potential said a statement from the company. The plan includes a transportation and logistics strategy with electronic customs processes replicating DP World s successful model with Dubai trade at its flagship Jebel Ali Port and Freezone in Dubai it said. The partners will continue discussions and carry out due diligence studies on ...
Bahrain-based Al Nooh Wood Design has won the Gulf Construction Expo Best Stand Award for the third consecutive year. The Northern Gulf s showcase for the building and construction sector Gulf Construction Expo (formerly Gulf Bid) will run from April 24 to 26 next year in Manama under the patronage of HRH Prime Minister Prince Khalifa Bin Salman Al Khalifa said the event organisers Hilal Conferences and Exhibitions (HCE). The Best Stand Award recognises the efforts and strategies of exhibitors to promote their participation at the Gulf Construction Expo through their stand designs it stated. HCE s managing director Jubran Abdulrahman said: Al Nooh Wood Design is one of Bahrain s leading designers and manufacturers of custom wood exteriors and interiors. Its unique design scooped the Best Stand Award for the third successive year. Al Nooh beat off strong competition from RP Kingdom Projects ...
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Bahrain-based Al Nooh Wood Design has won the Gulf Construction Expo Best Stand Award for the third consecutive year. The Northern Gulf s showcase for the building and construction sector Gulf Construction Expo (formerly Gulf Bid) will run from April 24 to 26 next year in Manama under the patronage of HRH Prime Minister Prince Khalifa Bin Salman Al Khalifa said the event organisers Hilal Conferences and Exhibitions (HCE). The Best Stand Award recognises the efforts and strategies of exhibitors to promote their participation at the Gulf Construction Expo through their stand designs it stated. HCE s managing director Jubran Abdulrahman said: Al Nooh Wood Design is one of Bahrain s leading designers and manufacturers of custom wood exteriors and interiors. Its unique design scooped the Best Stand Award for the third successive year. Al Nooh beat off strong competition from RP Kingdom Projects ...
Supply chains across the Middle East have been revolutionised by new advancements making logistics services faster more accurate and efficient according to a research conducted by FarEye a global logistics management solutions company. The rise of innovative new machines and features such as drones artificial intelligence GPS tracking and data-driven logistics have had a promising effect on the logistics landscape said the report. Below are some trends that will revolutionise the logistics industry in the Middle East: Rise of autonomous logistics and introduction of drones 2018 will be the year where autonomous logistics truly takes off through the use of drones. With automation and mobility forming the support system to survive the competition drones will drive logistics performance to the next level. Self-driving vehicles and drones have already made their way in the logistics industry creatin...
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Supply chains across the Middle East have been revolutionised by new advancements making logistics services faster more accurate and efficient according to a research conducted by FarEye a global logistics management solutions company. The rise of innovative new machines and features such as drones artificial intelligence GPS tracking and data-driven logistics have had a promising effect on the logistics landscape said the report. Below are some trends that will revolutionise the logistics industry in the Middle East: Rise of autonomous logistics and introduction of drones 2018 will be the year where autonomous logistics truly takes off through the use of drones. With automation and mobility forming the support system to survive the competition drones will drive logistics performance to the next level. Self-driving vehicles and drones have already made their way in the logistics industry creatin...
Ithraa Oman s investment promotion and export development agency signed a memorandum of understanding (MoU) with Oman Global Logistics Group (Asyad) with the aim of strengthening efforts to support the sultanate s growing logistics sector. The agreement was signed in order to develop the sultanate s logistics sector which plays a key role in the country s economic diversification said a statement from the company. The Ithraa-Asyad agreement is committed to promoting Oman as a destination for logistics businesses and the growth and development of the sultanate s logistics sector it said. The deal reflects the desire and commitment of both organisations to share information and know-how capacity build and work together to present Oman s excellent connectivity and dynamic logistics offer to a broader and deeper international audience it added. Nasima Al Balushi director general of...
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Ithraa Oman s investment promotion and export development agency signed a memorandum of understanding (MoU) with Oman Global Logistics Group (Asyad) with the aim of strengthening efforts to support the sultanate s growing logistics sector. The agreement was signed in order to develop the sultanate s logistics sector which plays a key role in the country s economic diversification said a statement from the company. The Ithraa-Asyad agreement is committed to promoting Oman as a destination for logistics businesses and the growth and development of the sultanate s logistics sector it said. The deal reflects the desire and commitment of both organisations to share information and know-how capacity build and work together to present Oman s excellent connectivity and dynamic logistics offer to a broader and deeper international audience it added. Nasima Al Balushi director general of...
Building and Wood Workers International (BWI) is set to sign a major agreement with QDVC a joint venture between Qatari Diar Real Estate Investments Company and Vinci Construction Grands projects and another one with leading French construction major Vinci this month at its headquarters in Geneva Switzerland. A global union federation of democratic and free trade unions in the building wood building materials forestry and allied industries BWI said these agreements cover human rights at work accommodations and issues related to fair recruitment and employment rights of workers. The BWI groups together around 334 trade unions representing around 12 million members in 130 countries. Its headquarters is in Geneva Switzerland. Regional offices and project offices are located in Panama and Malaysia South Africa India Burkina Faso Chile Kenya Russia Peru and Brazil. As per the BWI deal QDVC will be committed to apply the agr...
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Building and Wood Workers International (BWI) is set to sign a major agreement with QDVC a joint venture between Qatari Diar Real Estate Investments Company and Vinci Construction Grands projects and another one with leading French construction major Vinci this month at its headquarters in Geneva Switzerland. A global union federation of democratic and free trade unions in the building wood building materials forestry and allied industries BWI said these agreements cover human rights at work accommodations and issues related to fair recruitment and employment rights of workers. The BWI groups together around 334 trade unions representing around 12 million members in 130 countries. Its headquarters is in Geneva Switzerland. Regional offices and project offices are located in Panama and Malaysia South Africa India Burkina Faso Chile Kenya Russia Peru and Brazil. As per the BWI deal QDVC will be committed to apply the agr...
Four major firms in Bahrain including two construction companies have been blacklisted by the government over non-payment of wages reported the Gulf Daily News our sister publication. For further details visit https://www.gdnonline.com ...
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Four major firms in Bahrain including two construction companies have been blacklisted by the government over non-payment of wages reported the Gulf Daily News our sister publication. For further details visit https://www.gdnonline.com ...
European bulk logistics provider RB Logistics (RB) has appointed GAC Abu Dhabi for a second time to provide a complete logistics service package. The two-year contract covers freight services transportation warehousing and handling of talcum powder from Italy to Ruwais for a client of IMI FABI said a statement from the company. GAC will arrange for collection of talc from IMI FABI s mine in Italy and send it by sea to Abu Dhabi where it will handle the customs clearance before transporting to GAC s Mina Zayed warehouse it said. There the talc will be loaded into RB s 40-foot silo containers using a specialised RB Transloading machine for the road trip to the production plant in Ruwais. After unloading empty containers will return to the warehouse. The GAC team will carry out at least 12 load out operations a month it added. GAC staff have been trained in the operation and maintenance of the RB ma...
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European bulk logistics provider RB Logistics (RB) has appointed GAC Abu Dhabi for a second time to provide a complete logistics service package. The two-year contract covers freight services transportation warehousing and handling of talcum powder from Italy to Ruwais for a client of IMI FABI said a statement from the company. GAC will arrange for collection of talc from IMI FABI s mine in Italy and send it by sea to Abu Dhabi where it will handle the customs clearance before transporting to GAC s Mina Zayed warehouse it said. There the talc will be loaded into RB s 40-foot silo containers using a specialised RB Transloading machine for the road trip to the production plant in Ruwais. After unloading empty containers will return to the warehouse. The GAC team will carry out at least 12 load out operations a month it added. GAC staff have been trained in the operation and maintenance of the RB ma...
Nogaholding the investment and business development arm of National Oil and Gas Authority (Noga) in Bahrain and Schmidt Heilbronn a global leader in bulk logistics have inaugurated their new joint venture facility in Bahrain. The 20million Schmidt Logistics Bahrain will create around 100 jobs in the logistics sector (directly and indirectly). Located in the Bahrain Logistics Zone it will support the zone s expanding operations particularly in the chemical and petrochemical logistics market. Shaikh Mohamed bin Khalifa Al Khalifa Bahrain s Minister of Oil and chairman of nogaholding said: Our new facility will have a significant positive impact on the regional chemical and petrochemical industries and facilitate quicker and easier transportation of goods around the GCC. Through our partnership with Schmidt we are proud to have supported the establishment of this facility and will continue to provide support for its operations...
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Nogaholding the investment and business development arm of National Oil and Gas Authority (Noga) in Bahrain and Schmidt Heilbronn a global leader in bulk logistics have inaugurated their new joint venture facility in Bahrain. The 20million Schmidt Logistics Bahrain will create around 100 jobs in the logistics sector (directly and indirectly). Located in the Bahrain Logistics Zone it will support the zone s expanding operations particularly in the chemical and petrochemical logistics market. Shaikh Mohamed bin Khalifa Al Khalifa Bahrain s Minister of Oil and chairman of nogaholding said: Our new facility will have a significant positive impact on the regional chemical and petrochemical industries and facilitate quicker and easier transportation of goods around the GCC. Through our partnership with Schmidt we are proud to have supported the establishment of this facility and will continue to provide support for its operations...
Gulf Warehousing Company (GWC) a leading logistics provider in Qatar has successfully delivered equestrian logistics operations for the upcoming Longines Global Champions Tour (LGCT) Doha Final Tour. The event which will start tomorrow (November 9) and conclude on November 11 is being organised by Al Shaqab (Member of the Qatar Foundation). The services provided by GWC Equestrian included the transport of a total of 91 world-class show horses consolidated in Liege Belgium over two charter flights that arrived on November 6 and 7 said a statement. Additionally the team has provided value added services such as reservations arrangements health permits for participating horses customs clearance at both ends of the journey tarmac supervision and. Each of the flights transporting the horses included a veterinarian and 10 groomsmen to ensure the horses safety comfort as they rode in the flights air stables&rs...
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Gulf Warehousing Company (GWC) a leading logistics provider in Qatar has successfully delivered equestrian logistics operations for the upcoming Longines Global Champions Tour (LGCT) Doha Final Tour. The event which will start tomorrow (November 9) and conclude on November 11 is being organised by Al Shaqab (Member of the Qatar Foundation). The services provided by GWC Equestrian included the transport of a total of 91 world-class show horses consolidated in Liege Belgium over two charter flights that arrived on November 6 and 7 said a statement. Additionally the team has provided value added services such as reservations arrangements health permits for participating horses customs clearance at both ends of the journey tarmac supervision and. Each of the flights transporting the horses included a veterinarian and 10 groomsmen to ensure the horses safety comfort as they rode in the flights air stables&rs...
Damac Properties a leading luxury real estate developer in the region has initiated further construction work at its largest residential community development Akoya Oxygen worth over Dh350 million ( 95.2 million) in October. This follows its recent Dh628 million contract awarded to Arabtec Construction in August 2017 to develop 1 296 villas at Akoya Oxygen. Damac continues to initiate major construction projects at Akoya Oxygen to accelerate development to ready its 55-million sq-ft green development in Dubailand to welcome its first residents as early as possible remarked Mohammed Tahaineh the senior VP of Commercial at Damac Properties. With the help of our esteemed contractors and partners who have worked with us for many developments we are confident with the progress being made he stated. Towers Technology Contracting Company is the chosen contractor to carry out main works for 44...
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Damac Properties a leading luxury real estate developer in the region has initiated further construction work at its largest residential community development Akoya Oxygen worth over Dh350 million ( 95.2 million) in October. This follows its recent Dh628 million contract awarded to Arabtec Construction in August 2017 to develop 1 296 villas at Akoya Oxygen. Damac continues to initiate major construction projects at Akoya Oxygen to accelerate development to ready its 55-million sq-ft green development in Dubailand to welcome its first residents as early as possible remarked Mohammed Tahaineh the senior VP of Commercial at Damac Properties. With the help of our esteemed contractors and partners who have worked with us for many developments we are confident with the progress being made he stated. Towers Technology Contracting Company is the chosen contractor to carry out main works for 44...
Virgin Group founder Sir Richard Branson and Virgin Voyages president and CEO Tom McAlpin hosted a Ship Tease where key details were revealed about what sailors can expect on the first of three ships coming to the high seas in 2020. Live from Fincantieri s shipyard in Genoa Italy they also celebrated the laying of the keel for the first ship marking the commencement of construction. Sir Richard and Tom McAlpin arrived on stage via a 200-foot crane drop in true Virgin style. They were joined by Bain Capital chairman Stephen Pagliuca and Fincantieri s Alberto Maestrini to weld ceremonial coins into the keel for good luck and smooth sailing. Richard expressed excitement that construction is now underway. This is a very big day for Virgin Voyages as an exciting new holiday option for travellers starts to get ship shape. She will be the most recognisable ship sailing the seven seas delivering an irresistible ...
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Virgin Group founder Sir Richard Branson and Virgin Voyages president and CEO Tom McAlpin hosted a Ship Tease where key details were revealed about what sailors can expect on the first of three ships coming to the high seas in 2020. Live from Fincantieri s shipyard in Genoa Italy they also celebrated the laying of the keel for the first ship marking the commencement of construction. Sir Richard and Tom McAlpin arrived on stage via a 200-foot crane drop in true Virgin style. They were joined by Bain Capital chairman Stephen Pagliuca and Fincantieri s Alberto Maestrini to weld ceremonial coins into the keel for good luck and smooth sailing. Richard expressed excitement that construction is now underway. This is a very big day for Virgin Voyages as an exciting new holiday option for travellers starts to get ship shape. She will be the most recognisable ship sailing the seven seas delivering an irresistible ...
With retail sales continuing to increase considerably thanks to the growing participation by women in its workforce this could be the first sector to recover in the Riyadh real estate market said a report by property expert JLL. The women employees increased one per cent quarter-on-quarter to reach a total number of 397 000. Furthermore recent laws introduced to allow women to drive from 2018 will likely increase the spending power of women in Saudi resulting in increased demand for retail space styted the JLL in its Q3 market Overview report. As the government launched the 2.6 billion entertainment company in September Shoppertainment remains a key concept in the retail industry among entertainment leisure and F&B (food and beverages) tenants. The government s agenda very much focuses on expanding the tourism and entertainment sector. As a result government spending has increased in...
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With retail sales continuing to increase considerably thanks to the growing participation by women in its workforce this could be the first sector to recover in the Riyadh real estate market said a report by property expert JLL. The women employees increased one per cent quarter-on-quarter to reach a total number of 397 000. Furthermore recent laws introduced to allow women to drive from 2018 will likely increase the spending power of women in Saudi resulting in increased demand for retail space styted the JLL in its Q3 market Overview report. As the government launched the 2.6 billion entertainment company in September Shoppertainment remains a key concept in the retail industry among entertainment leisure and F&B (food and beverages) tenants. The government s agenda very much focuses on expanding the tourism and entertainment sector. As a result government spending has increased in...
Dubai Land Department (DLD) has announced that over Dh1.3 billion ( 353 million) worth of brokerage commissions were made in Dubai s real estate market between the beginning of January 2017 and the end of September this year. A total number of 6 200 active brokers are working in Dubai s real estate market reported state news agency Wam . Real estate brokers achieved these commissions after securing land building and unit sales with a total sale value of Dh65.6 billion said the report. Brokers received a commission of Dh607 million from land sales amounting to Dh30.368 billion Dh110 million from building sales amounting to Dh5.51 billion and Dh595 million from unit sales amounting to Dh29.7 billion bringing the total commission of real estate brokers to Dh1.3 billion in nine months it added. DLD had recently launched the Dubai Brokers app a first-of-its-kind in the world that provi...
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Dubai Land Department (DLD) has announced that over Dh1.3 billion ( 353 million) worth of brokerage commissions were made in Dubai s real estate market between the beginning of January 2017 and the end of September this year. A total number of 6 200 active brokers are working in Dubai s real estate market reported state news agency Wam . Real estate brokers achieved these commissions after securing land building and unit sales with a total sale value of Dh65.6 billion said the report. Brokers received a commission of Dh607 million from land sales amounting to Dh30.368 billion Dh110 million from building sales amounting to Dh5.51 billion and Dh595 million from unit sales amounting to Dh29.7 billion bringing the total commission of real estate brokers to Dh1.3 billion in nine months it added. DLD had recently launched the Dubai Brokers app a first-of-its-kind in the world that provi...
Emirates Nuclear Energy Corporation (Enec) said work is progressing at a steady pace on its ambitious Barakah project in Abu Dhabi UAE with over 84 per cent of the construction already completed at all the four units of the plant. Leading nuclear energy experts from the International Atomic Energy Agency (IAEA) and senior UAE officials visited the plant site today (October 29) witnessing the significant progress being made across all four units according to Enec. The delegation observed all of the key updates to the construction of the units which are being developed to the highest standards of nuclear quality safety and security. The visit came ahead of the IAEA International Ministerial Conference on Nuclear Power in the 21st Century which opens tomorrow (October 30) in Abu Dhabi and runs till November 1 it stated. According to Enec the work at Unit 1 is more than 96 per cent over while Unit 2 has witnesse...
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Emirates Nuclear Energy Corporation (Enec) said work is progressing at a steady pace on its ambitious Barakah project in Abu Dhabi UAE with over 84 per cent of the construction already completed at all the four units of the plant. Leading nuclear energy experts from the International Atomic Energy Agency (IAEA) and senior UAE officials visited the plant site today (October 29) witnessing the significant progress being made across all four units according to Enec. The delegation observed all of the key updates to the construction of the units which are being developed to the highest standards of nuclear quality safety and security. The visit came ahead of the IAEA International Ministerial Conference on Nuclear Power in the 21st Century which opens tomorrow (October 30) in Abu Dhabi and runs till November 1 it stated. According to Enec the work at Unit 1 is more than 96 per cent over while Unit 2 has witnesse...
The total value of real estate transactions in Dubai UAE for the first nine months of 2017 reached Dh204 billion ( 55.5 billion) achieved through 52 170 transactions according to a report released by Dubai Land Department (DLD). According to the report there were a total of 37 633 transactions for land residential units and buildings generating a value of over Dh88 billion. There were also 11 699 mortgage transactions worth Dh102 billion and 2 838 other transactions worth Dh14 billion. Sultan Butti bin Mejren director general of Dubai Land Department commented: We are delighted to share our new report which contains many encouraging and promising signs for those interested in Dubai s real estate sector. The data clearly shows an increasing demand across all property categories including land plots for various forms of real estate development as well as buildings and residential units which means that we are attracting a wid...
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The total value of real estate transactions in Dubai UAE for the first nine months of 2017 reached Dh204 billion ( 55.5 billion) achieved through 52 170 transactions according to a report released by Dubai Land Department (DLD). According to the report there were a total of 37 633 transactions for land residential units and buildings generating a value of over Dh88 billion. There were also 11 699 mortgage transactions worth Dh102 billion and 2 838 other transactions worth Dh14 billion. Sultan Butti bin Mejren director general of Dubai Land Department commented: We are delighted to share our new report which contains many encouraging and promising signs for those interested in Dubai s real estate sector. The data clearly shows an increasing demand across all property categories including land plots for various forms of real estate development as well as buildings and residential units which means that we are attracting a wid...
More than 55 leading exhibitors from the region will be showcasing over 100 projects worth 20 billion at Bahrain International Property Exhibition 2017 (Bipex 2017) which opened today (October 26). The three-day event is being organised under the patronage of Sheikh Khalid bin Abdullah Al Khalifa Deputy Prime Minister and the Chairman of the Ministerial Committee for Reconstruction and Infrastructure at the Bahrain International Exhibition and Convention Center. The tenth edition of Bipex is being held amidst favourable conditions for the real estate sector foremost after the ratification of His Majesty the King on the Real Estate Regulatory Law last July said the event organisers the Bahrain Society of Engineers (BSE) This was followed by the approval of the Cabinet to establish and organise the Real Estate Regulatory Authority and appointing a chief executive officer of the new authority. These procedures aim to develop Bahrain&#...
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More than 55 leading exhibitors from the region will be showcasing over 100 projects worth 20 billion at Bahrain International Property Exhibition 2017 (Bipex 2017) which opened today (October 26). The three-day event is being organised under the patronage of Sheikh Khalid bin Abdullah Al Khalifa Deputy Prime Minister and the Chairman of the Ministerial Committee for Reconstruction and Infrastructure at the Bahrain International Exhibition and Convention Center. The tenth edition of Bipex is being held amidst favourable conditions for the real estate sector foremost after the ratification of His Majesty the King on the Real Estate Regulatory Law last July said the event organisers the Bahrain Society of Engineers (BSE) This was followed by the approval of the Cabinet to establish and organise the Real Estate Regulatory Authority and appointing a chief executive officer of the new authority. These procedures aim to develop Bahrain&#...
The global construction industry is entering a revolutionary era with the world s first 3D-printed skyscraper expected to take shape in less than five years according to global experts. This game-changing technology that promises to disrupt today s building techniques will have its set in Dubai and - just like anything yet unseen - is drawing public attention as well as many questions said the experts ahead of The Big 5 expo in Dubai UAE. The largest construction event in the Middle East The Big 5 will run from November 26 to 29 at the Dubai World Trade Centre. Those in search of the answers will have the chance to listen to the man behind the first 3D printed skyscraper project Chris Kelsey at The Big 5. Speaking at the Excellence in Construction Summit the high-level conference organized by The Big 5 on November 26 Kelsey the CEO of Cazza - the world s leading 3D printing company will unveil how Dubai i...
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The global construction industry is entering a revolutionary era with the world s first 3D-printed skyscraper expected to take shape in less than five years according to global experts. This game-changing technology that promises to disrupt today s building techniques will have its set in Dubai and - just like anything yet unseen - is drawing public attention as well as many questions said the experts ahead of The Big 5 expo in Dubai UAE. The largest construction event in the Middle East The Big 5 will run from November 26 to 29 at the Dubai World Trade Centre. Those in search of the answers will have the chance to listen to the man behind the first 3D printed skyscraper project Chris Kelsey at The Big 5. Speaking at the Excellence in Construction Summit the high-level conference organized by The Big 5 on November 26 Kelsey the CEO of Cazza - the world s leading 3D printing company will unveil how Dubai i...
Oman s real estate market has been hit by the weak global economy leading to a drop in overall demand for housing. However there remain pockets of activity and clear opportunities in both the residential and commercial sectors according to leading international real estate consultancy Cluttons. Oman s GDP growth is expected to rise to 5.2 per cent next year aided by the introduction of natural gas production at the Khazzan gas field and the opening of the new airport in Muscat stated the industry expert. This will mark the strongest rate of expansion since 2015 and in turn should filter down to help steady the country s property market said Cluttons in its report. The Cluttons Muscat Winter 2017/18 Property Market Outlook indicates that Oman s economy like many of if its Gulf neighbours is still working its way through a challenging period triggered by the shock collapse in oil prices in 2014...
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Oman s real estate market has been hit by the weak global economy leading to a drop in overall demand for housing. However there remain pockets of activity and clear opportunities in both the residential and commercial sectors according to leading international real estate consultancy Cluttons. Oman s GDP growth is expected to rise to 5.2 per cent next year aided by the introduction of natural gas production at the Khazzan gas field and the opening of the new airport in Muscat stated the industry expert. This will mark the strongest rate of expansion since 2015 and in turn should filter down to help steady the country s property market said Cluttons in its report. The Cluttons Muscat Winter 2017/18 Property Market Outlook indicates that Oman s economy like many of if its Gulf neighbours is still working its way through a challenging period triggered by the shock collapse in oil prices in 2014...
Abu Dhabi continues to experience negative growth across all property types due to weakness in the job market and reduced housing allowances according to leading real estate consultancy Asteco. The average apartment rental rates dropped by three per cent over the quarter and by 10 per cent over the last 12 months with the highest declines recorded for mid-end properties and large units within prime and high-end projects stated Asteco in its Q3 Abu Dhabi Real Estate report. In the high-end segment the highest year-on-year (YoY) declines were recorded at Abu Dhabi Corniche (down 15 per cent) while mid-end and low-end areas evidenced the largest declines including Al Reef Downtown Khalifa and MBZ City. Sales prices for apartments fell 3 per cent quarter-on-quarter (QoQ) and 10 per cent YoY. The most significant YoY declines in sales price were recorded in Al Muneera and Reef Downtown areas both down 12 per cent with the ...
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Abu Dhabi continues to experience negative growth across all property types due to weakness in the job market and reduced housing allowances according to leading real estate consultancy Asteco. The average apartment rental rates dropped by three per cent over the quarter and by 10 per cent over the last 12 months with the highest declines recorded for mid-end properties and large units within prime and high-end projects stated Asteco in its Q3 Abu Dhabi Real Estate report. In the high-end segment the highest year-on-year (YoY) declines were recorded at Abu Dhabi Corniche (down 15 per cent) while mid-end and low-end areas evidenced the largest declines including Al Reef Downtown Khalifa and MBZ City. Sales prices for apartments fell 3 per cent quarter-on-quarter (QoQ) and 10 per cent YoY. The most significant YoY declines in sales price were recorded in Al Muneera and Reef Downtown areas both down 12 per cent with the ...
Dubai-based ORG Logistics a leading shipping company revealed that its revenues were approaching Dh400 million ( 108.90 million) and it plans to expand its global footprint into markets such as China Hong Kong and Egypt. Established in 2005 the company specialises in prominent services in the field of shipping imports and exports. Current exports per month are at 1000 tonnes to Hong Kong Europe and America while imports are at 900 tonnes for the same region including Saudi Arabia Kuwait Iraq Libya Tunisia Morocco Algeria and Egypt. Mohammed Al Gohary chief executive officer ORG Logistics said: Logistics continues to play a major role in helping the region sustain its growth. A significant portion of the world s cargo moves through the Middle East and businesses now expect logistic companies to be a one-stop-solution for all their cargo needs. As market leaders we have thorough knowledge...
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Dubai-based ORG Logistics a leading shipping company revealed that its revenues were approaching Dh400 million ( 108.90 million) and it plans to expand its global footprint into markets such as China Hong Kong and Egypt. Established in 2005 the company specialises in prominent services in the field of shipping imports and exports. Current exports per month are at 1000 tonnes to Hong Kong Europe and America while imports are at 900 tonnes for the same region including Saudi Arabia Kuwait Iraq Libya Tunisia Morocco Algeria and Egypt. Mohammed Al Gohary chief executive officer ORG Logistics said: Logistics continues to play a major role in helping the region sustain its growth. A significant portion of the world s cargo moves through the Middle East and businesses now expect logistic companies to be a one-stop-solution for all their cargo needs. As market leaders we have thorough knowledge...
Technology innovation is likely to boost productivity and increase effectiveness for the GCC construction market beyond mega-projects said experts ahead of a key industry event being hosted by Trimble a global construction technology company. To be held on October 25 in Dubai Trimble s Construction Summit Middle East aims to stimulate construction innovation and business transformation through application of technology. The summit will be held under the theme Delivering Innovation in Construction Through Technology and comes at a crucial time amid a recent report by research firm Preqin showing that 42 billion worth of infrastructure deals have been completed in the Middle East and North Africa (Mena). New research from McKinsey Global Institute found that the global construction industry is ripe for disruption. Adopting best practices in seven key areas could boost productivity by 50 to 60 per cent which...
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Technology innovation is likely to boost productivity and increase effectiveness for the GCC construction market beyond mega-projects said experts ahead of a key industry event being hosted by Trimble a global construction technology company. To be held on October 25 in Dubai Trimble s Construction Summit Middle East aims to stimulate construction innovation and business transformation through application of technology. The summit will be held under the theme Delivering Innovation in Construction Through Technology and comes at a crucial time amid a recent report by research firm Preqin showing that 42 billion worth of infrastructure deals have been completed in the Middle East and North Africa (Mena). New research from McKinsey Global Institute found that the global construction industry is ripe for disruption. Adopting best practices in seven key areas could boost productivity by 50 to 60 per cent which...
The northern emirate of Sharjah has witnessed a 37.2 per cent increase in the value of real estate trade which hit Dh8.2 billion ( 2.23 billion) during the third quarter compared to the same period in 2016 said a report. Mortgage transactions reached 894 including 482 transactions valued at Dh3.4 billion ( 925 million) stated Emirati news agency Wam citing figures released by the Sharjah Real Estate Registration Department. The total number of transactions stood at 11 853 in the third quarter of which 2 384 were ownership certificates and 811 were sales transactions said the report. Sector-wise the residential transactions topped the list at 483 followed by commercial (181) industrial (123) and agricultural at 24 it stated. The total traded areas surged to 34 304 million sq ft with the Al Khan area topping the list with 162 transactions it added. ...
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The northern emirate of Sharjah has witnessed a 37.2 per cent increase in the value of real estate trade which hit Dh8.2 billion ( 2.23 billion) during the third quarter compared to the same period in 2016 said a report. Mortgage transactions reached 894 including 482 transactions valued at Dh3.4 billion ( 925 million) stated Emirati news agency Wam citing figures released by the Sharjah Real Estate Registration Department. The total number of transactions stood at 11 853 in the third quarter of which 2 384 were ownership certificates and 811 were sales transactions said the report. Sector-wise the residential transactions topped the list at 483 followed by commercial (181) industrial (123) and agricultural at 24 it stated. The total traded areas surged to 34 304 million sq ft with the Al Khan area topping the list with 162 transactions it added. ...
Bahrain-based Investcorp a leading global provider and manager of alternative investment products said it has completed its first European real estate portfolio following the acquisition of seven additional assets. The European strategy which aims to create a portfolio of income generating assets for investors was launched in 2016. Following this acquisition Investcorp s European real estate investment already exceeds 100 million said a statement from the company. The completion of the firm s debut European portfolio its UK Industrial and Logistics portfolio - is the first step in its ambition to build on its success in the US where it is one of the biggest international real estate investors. Investcorp will continue to explore multiple other European strategies targeting income generating assets across various sectors and European geographies said a top official. As we embark on...
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Bahrain-based Investcorp a leading global provider and manager of alternative investment products said it has completed its first European real estate portfolio following the acquisition of seven additional assets. The European strategy which aims to create a portfolio of income generating assets for investors was launched in 2016. Following this acquisition Investcorp s European real estate investment already exceeds 100 million said a statement from the company. The completion of the firm s debut European portfolio its UK Industrial and Logistics portfolio - is the first step in its ambition to build on its success in the US where it is one of the biggest international real estate investors. Investcorp will continue to explore multiple other European strategies targeting income generating assets across various sectors and European geographies said a top official. As we embark on...
Emaar Properties board has approved the initial public offering of its real estate development subsidiary Emaar Development to happen as soon as next month the company said on Sunday. The listing which analyst estimate could raise up to US 2 billion will be only the second IPO on the Dubai bourse since 2015. Emaar Development will be listed on the Dubai Financial Market with up to 30 per cent of its shares available to the public Emaar Properties said in a bourse filing on Sunday. Mohamed Alabbar Emaar s chairman confirmed he expected the initial public offering to take place in early-November as previously scheduled according to Albayan. A Reuters report said the company plans to sell a 20 percent stake in the unit. ...
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Emaar Properties board has approved the initial public offering of its real estate development subsidiary Emaar Development to happen as soon as next month the company said on Sunday. The listing which analyst estimate could raise up to US 2 billion will be only the second IPO on the Dubai bourse since 2015. Emaar Development will be listed on the Dubai Financial Market with up to 30 per cent of its shares available to the public Emaar Properties said in a bourse filing on Sunday. Mohamed Alabbar Emaar s chairman confirmed he expected the initial public offering to take place in early-November as previously scheduled according to Albayan. A Reuters report said the company plans to sell a 20 percent stake in the unit. ...
Saudi construction firms aim for 2018 to be the tipping point for digital transformation ensuring the SR178 billion ( 47.4 billion) worth of projects can be completed on-time and on-budget according to the industry experts. Saudi Vision 2030 and the National Transformation Program 2020 are advancing complex projects including high-speed rail airports and seaports said experts ahead of a major industry event. The Saudi Build the largest construction show in the kingdom will kick off tomorrow (October 23) and run for the next three days. In anticipation of this growth construction technology and software solutions are major points of interest at Saudi Build across architects designers engineers and contractors they added. Building Information Modeling software solutions are in high demand in the kingdom helping to enhance productivity and collaboration across the entire project lifecycle and ...
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Saudi construction firms aim for 2018 to be the tipping point for digital transformation ensuring the SR178 billion ( 47.4 billion) worth of projects can be completed on-time and on-budget according to the industry experts. Saudi Vision 2030 and the National Transformation Program 2020 are advancing complex projects including high-speed rail airports and seaports said experts ahead of a major industry event. The Saudi Build the largest construction show in the kingdom will kick off tomorrow (October 23) and run for the next three days. In anticipation of this growth construction technology and software solutions are major points of interest at Saudi Build across architects designers engineers and contractors they added. Building Information Modeling software solutions are in high demand in the kingdom helping to enhance productivity and collaboration across the entire project lifecycle and ...
State oil giant Saudi Aramco plans to set up a new construction company with local and international partners to build non-oil infrastructure in Saudi Arabia reported Reuters citing senior industry sources. Saudi Arabia s main sovereign wealth fund the Public Investment Fund (PIF) is expected to be part of the newly created company which will eventually have thousands of employees stated sources. Local companies including Nesma & Partners Al Rashid Trading & Contracting Company Azmeel Contracting El Seif Engineering have welcomed the plan and expressed interest in the project stated the report. International groups too such as Turkey s Tekfen and South Korea s Posco Daewoo and Samsung C&T have expressed interest in the new construction venture. Both the local and global firms are keen to form consortiums for the coveted project it added. The plan illustrates how...
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State oil giant Saudi Aramco plans to set up a new construction company with local and international partners to build non-oil infrastructure in Saudi Arabia reported Reuters citing senior industry sources. Saudi Arabia s main sovereign wealth fund the Public Investment Fund (PIF) is expected to be part of the newly created company which will eventually have thousands of employees stated sources. Local companies including Nesma & Partners Al Rashid Trading & Contracting Company Azmeel Contracting El Seif Engineering have welcomed the plan and expressed interest in the project stated the report. International groups too such as Turkey s Tekfen and South Korea s Posco Daewoo and Samsung C&T have expressed interest in the new construction venture. Both the local and global firms are keen to form consortiums for the coveted project it added. The plan illustrates how...
Saudi Arabia s Public Investment Fund (PIF) has launched a new real estate refinance company in line with its Vision 2030 objectives of improving the performance of the real estate market increasing its contribution to the GDP and raising the rate of homeownership among its citizens to 52 per cent by the end of 2020. The demand for real estate financing in the kingdom is expected to increase from the current SR280 billion ( 74.6 billion) to SR500 billion ( 133.2 billion) in 2026 said a statement from PIF. Launched in partnership with the Ministry of Housing and under the chairmanship of Majed Al Hogail the Minister of Housing the new entity Saudi Real Estate Refinance Company (SRC) is designed to stimulate housing sector development in the kingdom by injecting liquidity into the real estate market. A leading new initiative for the kingdom s housing sector SRC was launched in line with the highest international standards....
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Saudi Arabia s Public Investment Fund (PIF) has launched a new real estate refinance company in line with its Vision 2030 objectives of improving the performance of the real estate market increasing its contribution to the GDP and raising the rate of homeownership among its citizens to 52 per cent by the end of 2020. The demand for real estate financing in the kingdom is expected to increase from the current SR280 billion ( 74.6 billion) to SR500 billion ( 133.2 billion) in 2026 said a statement from PIF. Launched in partnership with the Ministry of Housing and under the chairmanship of Majed Al Hogail the Minister of Housing the new entity Saudi Real Estate Refinance Company (SRC) is designed to stimulate housing sector development in the kingdom by injecting liquidity into the real estate market. A leading new initiative for the kingdom s housing sector SRC was launched in line with the highest international standards....
Bahrain attracted more than 200 million worth of investment into its manufacturing and logistics sectors in the first half of this year revealed the Bahrain Economic Development Board (EDB). The investments are expected to create approximately 1 000 jobs over the next three years. The growth follows a substantial increase in the number of international businesses looking to use Bahrain as a hub to access and seize the regional opportunities offered in the GCC market and beyond said a statement. Mondelez International one of the world s largest snacks companies is building one of its global manufacturing and distribution hubs in Bahrain in order to meet the growing demand in the Middle East and Africa. Mondelez is building a state-of-the-art biscuit production plant that will produce the famous brands Oreo Ritz and TUC. The plant will generate 200 jobs in its initial phase. This is the second investment ...
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Bahrain attracted more than 200 million worth of investment into its manufacturing and logistics sectors in the first half of this year revealed the Bahrain Economic Development Board (EDB). The investments are expected to create approximately 1 000 jobs over the next three years. The growth follows a substantial increase in the number of international businesses looking to use Bahrain as a hub to access and seize the regional opportunities offered in the GCC market and beyond said a statement. Mondelez International one of the world s largest snacks companies is building one of its global manufacturing and distribution hubs in Bahrain in order to meet the growing demand in the Middle East and Africa. Mondelez is building a state-of-the-art biscuit production plant that will produce the famous brands Oreo Ritz and TUC. The plant will generate 200 jobs in its initial phase. This is the second investment ...
The top 10 ongoing projects in the residential building sector are contributing an estimated 21.6 billion to the UAE construction market said a report released ahead of The Big 5 expo in Dubai. The region s leading construction expo The Big 5 will run from November 26 to 29 at the Dubai World Trade Centre featuring some of the top international and local industry professionals. Six out of the 10 listed projects are being developed in Dubai with others adding great value to emirates such as Abu Dhabi Sharjah and Ras Al Khaimah stated the report prepared by the BNC Network for the big construction event. The key UAE residential projects in order of estimated value are: The Villages - Dubai South: The 6.8 billion residential villages stand at the top of the list in value. With completion estimated in late 2022 the five community-based settlements will feature around 20 000 units. The project will also include ed...
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The top 10 ongoing projects in the residential building sector are contributing an estimated 21.6 billion to the UAE construction market said a report released ahead of The Big 5 expo in Dubai. The region s leading construction expo The Big 5 will run from November 26 to 29 at the Dubai World Trade Centre featuring some of the top international and local industry professionals. Six out of the 10 listed projects are being developed in Dubai with others adding great value to emirates such as Abu Dhabi Sharjah and Ras Al Khaimah stated the report prepared by the BNC Network for the big construction event. The key UAE residential projects in order of estimated value are: The Villages - Dubai South: The 6.8 billion residential villages stand at the top of the list in value. With completion estimated in late 2022 the five community-based settlements will feature around 20 000 units. The project will also include ed...
Invest AD a leading asset manager based in Abu Dhabi UAE said it has joined hands with Brookfield Asset Management a leading global alternative asset manager to establish a new venture with a view to creating institutional quality investment products comprising UAE real estate including a real estate investment trust (REIT) under the regulatory framework of the Abu Dhabi Global Market. These REITs have become increasingly popular globally in the low interest rate environment of recent years said a statement from Invest AD. They offer investors tradable units in real estate portfolios with a high proportion of rental income passed through in the form of dividends. While generally less volatile than equities REITs also hold out the prospect of capital gain in a rising real estate market it stated. The UAE real estate market has reached a level of maturity that requires the professional management of assets a...
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Invest AD a leading asset manager based in Abu Dhabi UAE said it has joined hands with Brookfield Asset Management a leading global alternative asset manager to establish a new venture with a view to creating institutional quality investment products comprising UAE real estate including a real estate investment trust (REIT) under the regulatory framework of the Abu Dhabi Global Market. These REITs have become increasingly popular globally in the low interest rate environment of recent years said a statement from Invest AD. They offer investors tradable units in real estate portfolios with a high proportion of rental income passed through in the form of dividends. While generally less volatile than equities REITs also hold out the prospect of capital gain in a rising real estate market it stated. The UAE real estate market has reached a level of maturity that requires the professional management of assets a...
The Middle East hospitality sector has registered a total of 96 694 rooms under construction in 302 projects representing a 15.9 per cent increase in rooms in construction compared with the same period in 2016. According to the STR September 2017 Pipeline Report the Middle East also recorded a 3.4 per cent increase in rooms under contract with 164 497 rooms in 574 hotel projects under construction for the month. The maximum number of hotels were seen in the Upper Upscale category with 26 363 rooms in the under construction segment and 42 606 room in the under contract segment. Under contract data includes projects in the in construction final planning and planning stages but does not include projects in the Unconfirmed stage. The STR report also highlighted the development in Africa which reported 55 349 rooms in 299 projects under contract a 2.7 per cent decrease compared with September 2016. The continent also rec...
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The Middle East hospitality sector has registered a total of 96 694 rooms under construction in 302 projects representing a 15.9 per cent increase in rooms in construction compared with the same period in 2016. According to the STR September 2017 Pipeline Report the Middle East also recorded a 3.4 per cent increase in rooms under contract with 164 497 rooms in 574 hotel projects under construction for the month. The maximum number of hotels were seen in the Upper Upscale category with 26 363 rooms in the under construction segment and 42 606 room in the under contract segment. Under contract data includes projects in the in construction final planning and planning stages but does not include projects in the Unconfirmed stage. The STR report also highlighted the development in Africa which reported 55 349 rooms in 299 projects under contract a 2.7 per cent decrease compared with September 2016. The continent also rec...
Reign Holdings a Dubai-based global business conglomerate has announced its plans to invest up to 1 billion in the region s real estate sector through its development arm Arthur & Hardman. It will focus on developing fully integrated world-class lifestyle communities that meet the distinct gamut of residential and commercial needs said a statement from Reign Holdings. Arthur & Hardman is set to deliver 1 000 hotel apartment units in Dubai s Jumeirah Village Circle (JVC) over the next few years to cater to the growing demand ahead of the Expo 2020. Commenting on the plans Samir Salya the chairman of Reign Holdings said: We are focused on managing investments for regulated funds and will invest 1 billion in different sectors including construction and real estate on behalf of the funds from Far East and Middle East. Our next projects will allow us to deliver over 1 000 un...
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Reign Holdings a Dubai-based global business conglomerate has announced its plans to invest up to 1 billion in the region s real estate sector through its development arm Arthur & Hardman. It will focus on developing fully integrated world-class lifestyle communities that meet the distinct gamut of residential and commercial needs said a statement from Reign Holdings. Arthur & Hardman is set to deliver 1 000 hotel apartment units in Dubai s Jumeirah Village Circle (JVC) over the next few years to cater to the growing demand ahead of the Expo 2020. Commenting on the plans Samir Salya the chairman of Reign Holdings said: We are focused on managing investments for regulated funds and will invest 1 billion in different sectors including construction and real estate on behalf of the funds from Far East and Middle East. Our next projects will allow us to deliver over 1 000 un...
Real estate remains attractive for Middle Eastern investors seeking portfolio diversification and a hedge against inflation said a top industry expert. Despite the uncertainty and headwinds from Brexit a weaker currency coupled with a transparent market and strong legal system provides compelling investment opportunities remarked Aly Meghani the vice president of International Real Estate at Sedco Capital UK. A Saudi-based company Sedco Capital owns and manages a diverse and extensive portfolio of global real estate. We are actively deploying capital in the UK Continental Europe and the US on behalf of our clients who have appetite for long dated income and capital preservation he stated. Meghani was a special invitee on a panel entitled The Global Real Estate Market: Who s investing in what and where? at the Islamic Finance Forum in London where he discussed the changing tre...
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Real estate remains attractive for Middle Eastern investors seeking portfolio diversification and a hedge against inflation said a top industry expert. Despite the uncertainty and headwinds from Brexit a weaker currency coupled with a transparent market and strong legal system provides compelling investment opportunities remarked Aly Meghani the vice president of International Real Estate at Sedco Capital UK. A Saudi-based company Sedco Capital owns and manages a diverse and extensive portfolio of global real estate. We are actively deploying capital in the UK Continental Europe and the US on behalf of our clients who have appetite for long dated income and capital preservation he stated. Meghani was a special invitee on a panel entitled The Global Real Estate Market: Who s investing in what and where? at the Islamic Finance Forum in London where he discussed the changing tre...
UAE-based Tristar Group a leader in liquid logistics solutions received the Best Logistics Innovation and Technology Strategy Award at the recent ICT Achievement Awards 2017 organised by Computer News Middle East. Tristar s IT department was recognised for its innovative digital transformation strategy embarked upon in 2017. The award further strengthens Tristar s reputation as an early adopter of technology in the logistics industry to ensure safety timeliness and better customer service said the company in a statement. Adam Lalani head of IT Tristar said: I am proud to accept this award on behalf of our company and for our team to be recognised by industry experts is a great honour. This is only the beginning; we have strong senior management commitment to the innovation and change we are bringing to the business through the adoption of cutting-edge technology &rdqu...
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UAE-based Tristar Group a leader in liquid logistics solutions received the Best Logistics Innovation and Technology Strategy Award at the recent ICT Achievement Awards 2017 organised by Computer News Middle East. Tristar s IT department was recognised for its innovative digital transformation strategy embarked upon in 2017. The award further strengthens Tristar s reputation as an early adopter of technology in the logistics industry to ensure safety timeliness and better customer service said the company in a statement. Adam Lalani head of IT Tristar said: I am proud to accept this award on behalf of our company and for our team to be recognised by industry experts is a great honour. This is only the beginning; we have strong senior management commitment to the innovation and change we are bringing to the business through the adoption of cutting-edge technology &rdqu...
Dubai Properties a leading real estate master developer in the UAE has achieved a key construction milestone with the completion of the raft casting at its Bellevue Towers residential project in Dubai. Valued at more than Dh200 million ( 54.4 million) the two-tower development conveniently located in proximity to Marasi Business Bay waterfront and within walking distance of Sheikh Mohammed Bin Rashid Boulevard is scheduled for handover in the third quarter of 2019 said a statement from the developer. Dubai Properties pointed out that since mobilisation of construction works in May this year the project had been proceeding as per schedule. The raft foundation of the 717 156.57-sq-ft development was completed in just 48 hours with 1 124 trucks delivering more than 9 500 cu m of concrete simultaneously to the site between September 29 and October 1. The enabling works including excavation dewatering pile cap cutti...
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Dubai Properties a leading real estate master developer in the UAE has achieved a key construction milestone with the completion of the raft casting at its Bellevue Towers residential project in Dubai. Valued at more than Dh200 million ( 54.4 million) the two-tower development conveniently located in proximity to Marasi Business Bay waterfront and within walking distance of Sheikh Mohammed Bin Rashid Boulevard is scheduled for handover in the third quarter of 2019 said a statement from the developer. Dubai Properties pointed out that since mobilisation of construction works in May this year the project had been proceeding as per schedule. The raft foundation of the 717 156.57-sq-ft development was completed in just 48 hours with 1 124 trucks delivering more than 9 500 cu m of concrete simultaneously to the site between September 29 and October 1. The enabling works including excavation dewatering pile cap cutti...
Dubai ports operator DP World will be developing a a trade and logistics master plan for Mali the company announced. DP World Group chairman and CEO Sultan Ahmed Bin Sulayem met with the president of Mali Ibrahim Boubacar Keïta last week to discuss the master plan to unlock the resource rich country s economic potential. The plan includes a transportation and logistics strategy with electronic customs processes replicating DP World s successful model with Dubai Trade at its flagship Jebel Ali Port and Freezone in Dubai. Mali has a long history of trade in gold and agricultural products and though landlocked has the opportunity to maximise use of its 1 800 km of inland waterways such as the Niger River to connect local farmers and businesses to international market Bin Sulayem. We have the experience of operating in 40 countries in a wide variety of locations includi...
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Dubai ports operator DP World will be developing a a trade and logistics master plan for Mali the company announced. DP World Group chairman and CEO Sultan Ahmed Bin Sulayem met with the president of Mali Ibrahim Boubacar Keïta last week to discuss the master plan to unlock the resource rich country s economic potential. The plan includes a transportation and logistics strategy with electronic customs processes replicating DP World s successful model with Dubai Trade at its flagship Jebel Ali Port and Freezone in Dubai. Mali has a long history of trade in gold and agricultural products and though landlocked has the opportunity to maximise use of its 1 800 km of inland waterways such as the Niger River to connect local farmers and businesses to international market Bin Sulayem. We have the experience of operating in 40 countries in a wide variety of locations includi...
Bahri a global leader in transportation and logistics and Bolloré Group a global player in international freight forwarding and logistics celebrated yesterday the inauguration of BahriBolloré Logistics the companies joint venture. Bahri owns a 60 percent stake in the joint venture while Bolloré owns the remaining 40 percent. Headquartered in Riyadh Saudi Arabia BahriBolloré Logistics will provide end-to-end logistics and supply chain management solutions to local and international firms operating in Saudi Arabia. To mark the occasion BahriBolloré Logistics hosted a special ceremony at The Ritz-Carlton Riyadh in the presence of Abdulrahman M. Al-Mofadhi chairman of Bahri members of the board of directors in addition to Cyrille Bolloré chairman of Bolloré Transport & Logistics; Éric Giraud-Telme deputy head of mission at the French Embassy in Saudi Arabia ...
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Bahri a global leader in transportation and logistics and Bolloré Group a global player in international freight forwarding and logistics celebrated yesterday the inauguration of BahriBolloré Logistics the companies joint venture. Bahri owns a 60 percent stake in the joint venture while Bolloré owns the remaining 40 percent. Headquartered in Riyadh Saudi Arabia BahriBolloré Logistics will provide end-to-end logistics and supply chain management solutions to local and international firms operating in Saudi Arabia. To mark the occasion BahriBolloré Logistics hosted a special ceremony at The Ritz-Carlton Riyadh in the presence of Abdulrahman M. Al-Mofadhi chairman of Bahri members of the board of directors in addition to Cyrille Bolloré chairman of Bolloré Transport & Logistics; Éric Giraud-Telme deputy head of mission at the French Embassy in Saudi Arabia ...
The Saudi Ministry of Housing has launched a series of programmes and initiatives to help achieve the kingdom s Vision 2030 and the National Transformation Program (NTP) 2020. The directives from the ministry are aimed at giving citizens the opportunity to own properties improve the performance of the real estate sector and increase its production besides promoting real estate offers and increase productivity to provide real estate properties in good condition and proper prices reported Arab News. One of the ministry s programmes aims to find solutions for the many challenges facing the rental industry which represents half the country s housing sector in order to create a safe and sustainable housing environment. The ministry s directive is in bid to achieve one of NTP s key goals to increase the rate of property ownership to 52 per cent stated the report. It has already signed many ...
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The Saudi Ministry of Housing has launched a series of programmes and initiatives to help achieve the kingdom s Vision 2030 and the National Transformation Program (NTP) 2020. The directives from the ministry are aimed at giving citizens the opportunity to own properties improve the performance of the real estate sector and increase its production besides promoting real estate offers and increase productivity to provide real estate properties in good condition and proper prices reported Arab News. One of the ministry s programmes aims to find solutions for the many challenges facing the rental industry which represents half the country s housing sector in order to create a safe and sustainable housing environment. The ministry s directive is in bid to achieve one of NTP s key goals to increase the rate of property ownership to 52 per cent stated the report. It has already signed many ...
Dubai International Financial Centre (DIFC) Courts has announced plans to set up a new division mainly for resolving complex technology and construction disputes such as claims arising out of fire accidents and complicated engineering rows. The new Technology and Construction Division (TCD) draws on specialist judges and a new set of industry-specific rules to fast-track dispute resolution providing greater certainty to businesses in court. The TCD division will only hear technically complex cases said a statement from DIFC Courts. Examples in the construction sector might include complicated engineering disputes or claims arising out of fires it stated. Technology-related cases could include liability for cybercrime incidents disputes over the ownership and use of data and issues relating to emerging technologies such as artificial intelligence or connected cars said the DIFC Courts statement. ...
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Dubai International Financial Centre (DIFC) Courts has announced plans to set up a new division mainly for resolving complex technology and construction disputes such as claims arising out of fire accidents and complicated engineering rows. The new Technology and Construction Division (TCD) draws on specialist judges and a new set of industry-specific rules to fast-track dispute resolution providing greater certainty to businesses in court. The TCD division will only hear technically complex cases said a statement from DIFC Courts. Examples in the construction sector might include complicated engineering disputes or claims arising out of fires it stated. Technology-related cases could include liability for cybercrime incidents disputes over the ownership and use of data and issues relating to emerging technologies such as artificial intelligence or connected cars said the DIFC Courts statement. ...
Dubai-based master developer Nakheel is assessing 10 proposals for the construction of its new Dh670 million ( 182 million) 800-room RIU beachfront resort at Deira Islands with the lowest bid at Dh363 million. The all-inclusive beachfront resort a joint venture between Nakheel and leading Spanish hospitality group RIU Hotels & Resorts is set for delivery in 2020 with a construction contract awarded by the end of 2017. The resort is RIU s first in the Middle East and one of Dubai s biggest in terms of hotel rooms. It will bring a new hospitality concept to Dubai offering mid-scale family-orientated all-inclusive beachfront accommodation. Located on a prime beachfront plot at Nakheel s new 15.3-sq-km Deira Islands coastal city the resort features seven F&B outlets three swimming pools a fitness complex children s club and waterpark. Several other new attractions including Deira ...
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Dubai-based master developer Nakheel is assessing 10 proposals for the construction of its new Dh670 million ( 182 million) 800-room RIU beachfront resort at Deira Islands with the lowest bid at Dh363 million. The all-inclusive beachfront resort a joint venture between Nakheel and leading Spanish hospitality group RIU Hotels & Resorts is set for delivery in 2020 with a construction contract awarded by the end of 2017. The resort is RIU s first in the Middle East and one of Dubai s biggest in terms of hotel rooms. It will bring a new hospitality concept to Dubai offering mid-scale family-orientated all-inclusive beachfront accommodation. Located on a prime beachfront plot at Nakheel s new 15.3-sq-km Deira Islands coastal city the resort features seven F&B outlets three swimming pools a fitness complex children s club and waterpark. Several other new attractions including Deira ...
OBS Group a diversified group based in Dubai and France-based Legendre Transport & Logistic Group have announced the launch of a new joint venture to tap into the opportunities in the logistics market across the GCC. The new company Legendre-BinSulaiman is headquartered in Dubai and is an equal partnership between the two companies. Legendre-BinSulaiman has already acquired an impressive portfolio of clients during the last few months and hopes to lead the sector with its services expertise and market know-how. OBS Group has been active in the region s transport and logistics industry for many years through its subsidiary OBS Global Logistics. With the formation of Legendre-BinSulaiman OBS Group is now looking to take the offering to their current and future customers to a more efficient level and obtain global reach a statement said. Based in France China Vietnam and West Africa Legendre Transport &am...
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OBS Group a diversified group based in Dubai and France-based Legendre Transport & Logistic Group have announced the launch of a new joint venture to tap into the opportunities in the logistics market across the GCC. The new company Legendre-BinSulaiman is headquartered in Dubai and is an equal partnership between the two companies. Legendre-BinSulaiman has already acquired an impressive portfolio of clients during the last few months and hopes to lead the sector with its services expertise and market know-how. OBS Group has been active in the region s transport and logistics industry for many years through its subsidiary OBS Global Logistics. With the formation of Legendre-BinSulaiman OBS Group is now looking to take the offering to their current and future customers to a more efficient level and obtain global reach a statement said. Based in France China Vietnam and West Africa Legendre Transport &am...
Dubai s well-regulated property market is now matured with serious developers genuine brokers and real buyers and needs out-of-the-box re-thinking of customised payment plans to attract buyers said an expert. Matured real estate market requires matured thinking from property developers. Gone are the days when buyers used to take whatever used to be imposed by developers when the market was a sellers one according to property experts. With Dubai s real estate market maturing further developers are offering deferred payment plans to attract property buyers as it has turned into a buyer s market they stated. For instance Gemini Property Developers a boutique real estate developer recently launched a game-changing-industry-first customised payment plan for luxury residential units in the Dh280 million ( 76.2 million) Splendor at MBR City that offers a wider choice for property buyers allowing them to...
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Dubai s well-regulated property market is now matured with serious developers genuine brokers and real buyers and needs out-of-the-box re-thinking of customised payment plans to attract buyers said an expert. Matured real estate market requires matured thinking from property developers. Gone are the days when buyers used to take whatever used to be imposed by developers when the market was a sellers one according to property experts. With Dubai s real estate market maturing further developers are offering deferred payment plans to attract property buyers as it has turned into a buyer s market they stated. For instance Gemini Property Developers a boutique real estate developer recently launched a game-changing-industry-first customised payment plan for luxury residential units in the Dh280 million ( 76.2 million) Splendor at MBR City that offers a wider choice for property buyers allowing them to...
Buoyed by a booming hotels and leisure construction market the contract awards in Saudi Arabia for this sector will likely hit 2.5 billion by the end of this year said a report ahead of The Big 5 Outdoor Design & Build Show in Dubai. A key industry event The Big 5 Outdoor Design & Build Show in Dubai will run from September 25 to 27. Co-located with the expo three world-class events will offer additional networking and learning opportunities as well as innovative products and latest solutions for the expanding Saudi hotel and leisure sector: FM Expo Windows Doors & Facades Event and Gulf Glass. The Saudi Vision 2030 is encouraging positive growth for the hotels and leisure industry. In April the kingdom s Public Investment Fund announced its plans to build the largest cultural sports and entertainment city in the world according to the report by Venture Onsite. By 2022 sports cultural and recreational fac...
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Buoyed by a booming hotels and leisure construction market the contract awards in Saudi Arabia for this sector will likely hit 2.5 billion by the end of this year said a report ahead of The Big 5 Outdoor Design & Build Show in Dubai. A key industry event The Big 5 Outdoor Design & Build Show in Dubai will run from September 25 to 27. Co-located with the expo three world-class events will offer additional networking and learning opportunities as well as innovative products and latest solutions for the expanding Saudi hotel and leisure sector: FM Expo Windows Doors & Facades Event and Gulf Glass. The Saudi Vision 2030 is encouraging positive growth for the hotels and leisure industry. In April the kingdom s Public Investment Fund announced its plans to build the largest cultural sports and entertainment city in the world according to the report by Venture Onsite. By 2022 sports cultural and recreational fac...
Dubai Land Department (DLD) said it has signed an agreement with leading UAE financial institution Mashreq Bank to boost the transaction services of the Tarweej real estate promotion initiative. Under the new agreement Mashreq Bank will provide banking services for real estate transactions made both inside and outside the country. In addition to this the bank will receive priority as a partner in real estate promotion and will provide customers and investors with consultation and information said the statement from DLD. We have reached this agreement with Mashreq Bank based on our mutual interest to support and strengthen our co-operation remarked Sultan Butti bin Mejren the director general of DLD after signing the deal with Abdul Aziz Al Ghurair CEO of Mashreq Bank. The agreement aims to enhance confidence in Dubai s real estate sector by providing a unique investment environment Bin Mejren noted...
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Dubai Land Department (DLD) said it has signed an agreement with leading UAE financial institution Mashreq Bank to boost the transaction services of the Tarweej real estate promotion initiative. Under the new agreement Mashreq Bank will provide banking services for real estate transactions made both inside and outside the country. In addition to this the bank will receive priority as a partner in real estate promotion and will provide customers and investors with consultation and information said the statement from DLD. We have reached this agreement with Mashreq Bank based on our mutual interest to support and strengthen our co-operation remarked Sultan Butti bin Mejren the director general of DLD after signing the deal with Abdul Aziz Al Ghurair CEO of Mashreq Bank. The agreement aims to enhance confidence in Dubai s real estate sector by providing a unique investment environment Bin Mejren noted...
International law firm Trowers & Hamlins said one of its partners Peter Greatrex has relocated from its Bahrain office to Dubai to spearhead the firm s UAE real estate practice. An industry veteran Greatrex has extensive experience in all areas of real estate work throughout the Middle East and North Africa (Mena) region advising master developer clients across the GCC on all aspects of their development from conception to completion. During his tenure in the firm s market leading Bahrain office for more than nine years he played a key role in the continuing expansion of Trowers & Hamlins real estate and PPP (public-private partnership) business across the GCC region said the company in a statement. An expert in the delivery of affordable housing having worked on strategic mandates for the governments of Abu Dhabi Oman and Kuwait in the housing sphere Greatrex continues to advise on the first PPP project fo...
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International law firm Trowers & Hamlins said one of its partners Peter Greatrex has relocated from its Bahrain office to Dubai to spearhead the firm s UAE real estate practice. An industry veteran Greatrex has extensive experience in all areas of real estate work throughout the Middle East and North Africa (Mena) region advising master developer clients across the GCC on all aspects of their development from conception to completion. During his tenure in the firm s market leading Bahrain office for more than nine years he played a key role in the continuing expansion of Trowers & Hamlins real estate and PPP (public-private partnership) business across the GCC region said the company in a statement. An expert in the delivery of affordable housing having worked on strategic mandates for the governments of Abu Dhabi Oman and Kuwait in the housing sphere Greatrex continues to advise on the first PPP project fo...
The Middle East and Africa (MEA) hospitality market is witnessing robust growth with a total of 891 hotel projects under construction in the region said a report. Of this about 583 projects comprising 164 898 rooms are under contract in the Middle East region stated STR a leading provider of global hotel data in its August 2017 Pipeline Report. The under-contract data includes projects in the in-construction final planning and planning stages but does not include projects in the unconfirmed stage. Among the MEA countries Saudi Arabia has the highest number of rooms (40 020 rooms in 89 projects) in the in-construction stage followed by the UAE with 35 050 rooms in 121 projects. The under contract total in the Middle East represents a 5.4 per cent increase in rooms under contract compared with August 2016. Specifically in the in construction phase the Middle East reported 98 027 rooms in 309 hotels. Based on number ...
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The Middle East and Africa (MEA) hospitality market is witnessing robust growth with a total of 891 hotel projects under construction in the region said a report. Of this about 583 projects comprising 164 898 rooms are under contract in the Middle East region stated STR a leading provider of global hotel data in its August 2017 Pipeline Report. The under-contract data includes projects in the in-construction final planning and planning stages but does not include projects in the unconfirmed stage. Among the MEA countries Saudi Arabia has the highest number of rooms (40 020 rooms in 89 projects) in the in-construction stage followed by the UAE with 35 050 rooms in 121 projects. The under contract total in the Middle East represents a 5.4 per cent increase in rooms under contract compared with August 2016. Specifically in the in construction phase the Middle East reported 98 027 rooms in 309 hotels. Based on number ...
Case Construction Equipment a leading manufacturer of construction equipment and machineries has appointed Jose Cuadrado as the new vice president for its operations in the EMEA (Europe Middle East and Africa) region. With more than 15 years of international experience within the industrial construction and agricultural equipment sectors Cuadrado brings a wealth of experience to his new role within CNH Industrial said a statement from the company. His most recent positon was as VP of Bobcat BU for EMEA region where his responsibilities included sales product marketing engineering program management and supply chain operations. A major international player Case sells and supports a full line of construction equipment including the No. 1 loader/backhoes excavators motor graders wheel loaders vibratory compaction rollers crawler dozers skid steers compact track loaders and rough-terrain forklifts. It is a ...
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Case Construction Equipment a leading manufacturer of construction equipment and machineries has appointed Jose Cuadrado as the new vice president for its operations in the EMEA (Europe Middle East and Africa) region. With more than 15 years of international experience within the industrial construction and agricultural equipment sectors Cuadrado brings a wealth of experience to his new role within CNH Industrial said a statement from the company. His most recent positon was as VP of Bobcat BU for EMEA region where his responsibilities included sales product marketing engineering program management and supply chain operations. A major international player Case sells and supports a full line of construction equipment including the No. 1 loader/backhoes excavators motor graders wheel loaders vibratory compaction rollers crawler dozers skid steers compact track loaders and rough-terrain forklifts. It is a ...
Leading developers from Bahrain will be showcasing over 11-billion worth of mixed-use real estate projects under the national pavilion during the Cityscape Global which opens tomorrow in Dubai. It will feature participation by The Bahrain Economic Development Board (EDB) as well as the five major developers - Bahrain Bay a 2.5-billion waterfront district; Diyar Al Muharraq a progressive urban development including the iconic Dragon City; Durrat Al Bahrain a hallmark island city; Canal View canalside living at its finest in the heart of Dilmunia and Bahrain Marina a trendy waterfront development in the heart of Manama said industry experts. The kingdom s real estate sector is witnessing rapid expansion due to growth in demand for residential and retail development with property industry they stated citing official data. The Bahrain EDB s economic quarterly report revealed growth in the sector reached 4.5 per cent in the first qu...
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Leading developers from Bahrain will be showcasing over 11-billion worth of mixed-use real estate projects under the national pavilion during the Cityscape Global which opens tomorrow in Dubai. It will feature participation by The Bahrain Economic Development Board (EDB) as well as the five major developers - Bahrain Bay a 2.5-billion waterfront district; Diyar Al Muharraq a progressive urban development including the iconic Dragon City; Durrat Al Bahrain a hallmark island city; Canal View canalside living at its finest in the heart of Dilmunia and Bahrain Marina a trendy waterfront development in the heart of Manama said industry experts. The kingdom s real estate sector is witnessing rapid expansion due to growth in demand for residential and retail development with property industry they stated citing official data. The Bahrain EDB s economic quarterly report revealed growth in the sector reached 4.5 per cent in the first qu...
The total value of 21 893 active construction projects in the Gulf Cooperation Council (GCC) reached 2.4 trillion at the beginning of September 2017 according to a report. Of these the total value of urban construction projects reached 1.18 trillion said the BNC Construction Intelligence report. This reflects the buoyancy of the project market and the fact that the governments of the six Gulf countries are determined to carry out important infrastructure projects said BNC Network one of the leading project research and intelligence provider in the Middle East and North Africa (Mena) region. The urban construction contracts constitute 80 per cent of the contracts awarded for all sectors in GCC and in dollar terms this translates to 49 per cent of the total contracts awarded. The governments and the private sector developers of the...
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The total value of 21 893 active construction projects in the Gulf Cooperation Council (GCC) reached 2.4 trillion at the beginning of September 2017 according to a report. Of these the total value of urban construction projects reached 1.18 trillion said the BNC Construction Intelligence report. This reflects the buoyancy of the project market and the fact that the governments of the six Gulf countries are determined to carry out important infrastructure projects said BNC Network one of the leading project research and intelligence provider in the Middle East and North Africa (Mena) region. The urban construction contracts constitute 80 per cent of the contracts awarded for all sectors in GCC and in dollar terms this translates to 49 per cent of the total contracts awarded. The governments and the private sector developers of the...
Leading UAE master developer Emaar Properties has clinched the top spot in the list of leading 100 real estate companies in the Arab world which has been compiled by Forbes Middle East. The list was made up of the region s most successful listed and unlisted developers local real estate consultants international consultants and - for the first time - Real Estate Investment Trusts (REITs). According to Forbes the top 40 listed real estate developers have a combined market value of 90.5 billion and brought in revenues of 18.1 billion in 2016 besides profits of 5.1 billion and assets worth 126.5 billion. Of the 40 unlisted real estate developers 25 hail from the UAE with eight of the top 10 based in the emirates stated Forbes after unveiling the list at an exclusive event held in Dubai. Wasl Asset Management Group founded in 2008 topped the unlisted firms category for the second year running ...
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Leading UAE master developer Emaar Properties has clinched the top spot in the list of leading 100 real estate companies in the Arab world which has been compiled by Forbes Middle East. The list was made up of the region s most successful listed and unlisted developers local real estate consultants international consultants and - for the first time - Real Estate Investment Trusts (REITs). According to Forbes the top 40 listed real estate developers have a combined market value of 90.5 billion and brought in revenues of 18.1 billion in 2016 besides profits of 5.1 billion and assets worth 126.5 billion. Of the 40 unlisted real estate developers 25 hail from the UAE with eight of the top 10 based in the emirates stated Forbes after unveiling the list at an exclusive event held in Dubai. Wasl Asset Management Group founded in 2008 topped the unlisted firms category for the second year running ...
The UAE has retained its number one position as the most appealing country to invest in real estate in the world for GCC residents while Dubai is the most preferred city according to new research. The latest Real Estate Barometer study conducted in partnership between YouGov and Cityscape Global asked GCC home buyers and real estate investors where they feel most comfortable investing their money globally and 45 per cent of respondents cited the UAE up from 42 per cent in 2016 while 63 per cent chose the UAE from among countries in the Middle East specifically. Collectively 69 per cent of respondents chose Dubai as the go to city for real estate investment with two thirds (66 per cent) expecting the impact of Expo 2020 Dubai to increase property buyer interest in the UAE said the survey. The research has been revealed ahead of three-day Cityscape Global the annual barometer for the real estate industry in ...
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The UAE has retained its number one position as the most appealing country to invest in real estate in the world for GCC residents while Dubai is the most preferred city according to new research. The latest Real Estate Barometer study conducted in partnership between YouGov and Cityscape Global asked GCC home buyers and real estate investors where they feel most comfortable investing their money globally and 45 per cent of respondents cited the UAE up from 42 per cent in 2016 while 63 per cent chose the UAE from among countries in the Middle East specifically. Collectively 69 per cent of respondents chose Dubai as the go to city for real estate investment with two thirds (66 per cent) expecting the impact of Expo 2020 Dubai to increase property buyer interest in the UAE said the survey. The research has been revealed ahead of three-day Cityscape Global the annual barometer for the real estate industry in ...
Oman is investing heavily in its tourism and hospitality sector as the sultanate aims to host seven million tourists by 2040 including 2.7 million in capital Muscat according to a real estate expert. This has primarily benefitted Muscat with the construction of multiple new infrastructure and real estate developments including the ongoing work on the long-delayed Muscat International Airport as well as other projects such as the Mall of Oman and The Wave which are designed to craft the Oman brand stated global real estate consultancy firm CBRE in its latest Oman Market View. Whilst already targeting a diversified visitor base the MICE (meetings incentives conferences and exhibitions) market will become an increasingly important revenue generator for Oman in the coming years subsequent to the opening of the Oman Convention & Exhibition Center at the end of 2016 it added. Commenting on the repor...
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Oman is investing heavily in its tourism and hospitality sector as the sultanate aims to host seven million tourists by 2040 including 2.7 million in capital Muscat according to a real estate expert. This has primarily benefitted Muscat with the construction of multiple new infrastructure and real estate developments including the ongoing work on the long-delayed Muscat International Airport as well as other projects such as the Mall of Oman and The Wave which are designed to craft the Oman brand stated global real estate consultancy firm CBRE in its latest Oman Market View. Whilst already targeting a diversified visitor base the MICE (meetings incentives conferences and exhibitions) market will become an increasingly important revenue generator for Oman in the coming years subsequent to the opening of the Oman Convention & Exhibition Center at the end of 2016 it added. Commenting on the repor...
Qatar Ports Management Company (Mwani Qatar) and Oman Global Logistics Group (Asyad) recently signed a memorandum of understanding (MoU) for the development of logistics services shipping and passenger ferry services said a report. The agreement aims to develop passenger ferry services between Qatar and Oman added the Gulf Times report. Mwani Qatar CEO Captain Abdulla al-Khanji and Asyad CEO Abdulrahman Salim al-Hatmi signed the agreement at Marsa Malaz Kempinski The Pearl Doha in the presence of the Minister of Transport and Communications Jassim Seif Ahmed al Sulaiti and Oman s Minister of Transport and Communications Dr Ahmed bin Mohamed bin Salem al Futaisi it said. The MoU also aims to develop a joint strategy to anchor cargo business to Hamad Port and Omani ports as well as develop joint logistic services between Hamad Port and Omani seaports it added. Al Sulaiti noted that there is also an &ldq...
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Qatar Ports Management Company (Mwani Qatar) and Oman Global Logistics Group (Asyad) recently signed a memorandum of understanding (MoU) for the development of logistics services shipping and passenger ferry services said a report. The agreement aims to develop passenger ferry services between Qatar and Oman added the Gulf Times report. Mwani Qatar CEO Captain Abdulla al-Khanji and Asyad CEO Abdulrahman Salim al-Hatmi signed the agreement at Marsa Malaz Kempinski The Pearl Doha in the presence of the Minister of Transport and Communications Jassim Seif Ahmed al Sulaiti and Oman s Minister of Transport and Communications Dr Ahmed bin Mohamed bin Salem al Futaisi it said. The MoU also aims to develop a joint strategy to anchor cargo business to Hamad Port and Omani ports as well as develop joint logistic services between Hamad Port and Omani seaports it added. Al Sulaiti noted that there is also an &ldq...
Dubai Land Department (DLD) has announced that over Dh820 million ( 223 million) worth of brokerage commissions were made in Dubai s real estate market between the beginning of January 2017 and the end of June this year. Yousuf Al Hashimi deputy executive director of RERA the regulatory arm of DLD said: Brokers play an essential role in our sector representing the forefront of real estate activity acting as a very important link between sellers and buyers and also offering a wide range of services for investors. Our brokers come from a variety of different nationalities so they have the ability to provide a true picture of the global investment environment that characterises Dubai. As part of their rights there is a set of laws that defines and regulates their commissions. Another DLD report on the activity of brokers and real estate offices in the first half of 2017 revealed that there are now 5 856 active bro...
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Dubai Land Department (DLD) has announced that over Dh820 million ( 223 million) worth of brokerage commissions were made in Dubai s real estate market between the beginning of January 2017 and the end of June this year. Yousuf Al Hashimi deputy executive director of RERA the regulatory arm of DLD said: Brokers play an essential role in our sector representing the forefront of real estate activity acting as a very important link between sellers and buyers and also offering a wide range of services for investors. Our brokers come from a variety of different nationalities so they have the ability to provide a true picture of the global investment environment that characterises Dubai. As part of their rights there is a set of laws that defines and regulates their commissions. Another DLD report on the activity of brokers and real estate offices in the first half of 2017 revealed that there are now 5 856 active bro...
A total of Dh151 billion ( 41.1 billion) was invested by foreigners in Dubai property market in 18 months according to latest figures released by the Dubai Land Department. The DLD revealed the figure while announcing a list of the top10 nationalities that invested in the emirate s realty market between January 2016 and the end of June 2017 reported Wam the Emirates official news agency. The new list confirms that UAE nationals are in the lead outperforming all other nationalities. Sultan Butti bin Mejren director-general of Dubai Land Department said: Up to 217 nationalities have invested a total of Dh151 billion in Dubai s real estate market. This demonstrates the confidence that the world has in our real estate environment which is characterised by a strong regulatory system that provides safety and security for all parties. The recent research found out that Emiratis made cl...
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A total of Dh151 billion ( 41.1 billion) was invested by foreigners in Dubai property market in 18 months according to latest figures released by the Dubai Land Department. The DLD revealed the figure while announcing a list of the top10 nationalities that invested in the emirate s realty market between January 2016 and the end of June 2017 reported Wam the Emirates official news agency. The new list confirms that UAE nationals are in the lead outperforming all other nationalities. Sultan Butti bin Mejren director-general of Dubai Land Department said: Up to 217 nationalities have invested a total of Dh151 billion in Dubai s real estate market. This demonstrates the confidence that the world has in our real estate environment which is characterised by a strong regulatory system that provides safety and security for all parties. The recent research found out that Emiratis made cl...
Infill developments are now a growing trend within Dubai s heavily populated urban areas signalling the start of a new phase of maturity in the local real estate market says an expert. Infill development defined as the process of developing vacant or under-used parcels within existing urban areas that are already largely developed offer opportunities to developers and investors alike. It allows them to capitalise on established sub-markets with existing demand bases well established transportation and infrastructure networks as well as surrounding amenities and employment hubs says Maher Sweid the managing partner of Dubai-based property developers Sweid & Sweid. In recent years Dubai s main population hubs have crossed a critical threshold with the urban landscape becoming a highly developed environment where few pockets of vacant land remain. While developers continue to expand and launch projects inland (away from the coast) th...
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Infill developments are now a growing trend within Dubai s heavily populated urban areas signalling the start of a new phase of maturity in the local real estate market says an expert. Infill development defined as the process of developing vacant or under-used parcels within existing urban areas that are already largely developed offer opportunities to developers and investors alike. It allows them to capitalise on established sub-markets with existing demand bases well established transportation and infrastructure networks as well as surrounding amenities and employment hubs says Maher Sweid the managing partner of Dubai-based property developers Sweid & Sweid. In recent years Dubai s main population hubs have crossed a critical threshold with the urban landscape becoming a highly developed environment where few pockets of vacant land remain. While developers continue to expand and launch projects inland (away from the coast) th...
Real Estate/ Construction / Property Development sector in the UAE leads the list of industries attracting top talent according to a latest report. The sector received a score of 31 per cent followed by Banking/Finance 30 per cent and Engineering/Design 25 per cent in the Middle East Job Index Survey from Bayt.com a leading job site in the Middle East and YouGov a global online market research company. Almost two in three (64 per cent) employers in the GCC plan to hire within the next year while almost half are planning to hire within the next three months the report said. In the UAE nearly seven in 10 (69 per cent) employers are planning to hire within the next year added the report. More than one in two (51 per cent) employers said that they are definitely or probably going to hire. Among UAE companies that plan to hire within the next three months more than three in eight (38...
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Real Estate/ Construction / Property Development sector in the UAE leads the list of industries attracting top talent according to a latest report. The sector received a score of 31 per cent followed by Banking/Finance 30 per cent and Engineering/Design 25 per cent in the Middle East Job Index Survey from Bayt.com a leading job site in the Middle East and YouGov a global online market research company. Almost two in three (64 per cent) employers in the GCC plan to hire within the next year while almost half are planning to hire within the next three months the report said. In the UAE nearly seven in 10 (69 per cent) employers are planning to hire within the next year added the report. More than one in two (51 per cent) employers said that they are definitely or probably going to hire. Among UAE companies that plan to hire within the next three months more than three in eight (38...
Real estate businesses in the UAE must consider how the five per cent value-added tax (VAT) being implemented from January 1 2018 will affect them an expert has said. Although home renters will escape taxation because residential rentals will be exempt from VAT landlords may lose out on other expenses they incur with VAT making rental prices vulnerable to an uptick said Lukman Hajje chief commercial officer of Propertyfinder Group. From a developer s standpoint VAT will certainly impact the contract price in construction contracts. And since Dubai developers have been ramping up launches of their off-plan projects in the last six months it s imperative that they lock down processes so they are prepared to recoup potential losses under the new taxation system he said. Hajje pointed out that while location may be one of the top three most important things in real estate for developers it s all a...
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Real estate businesses in the UAE must consider how the five per cent value-added tax (VAT) being implemented from January 1 2018 will affect them an expert has said. Although home renters will escape taxation because residential rentals will be exempt from VAT landlords may lose out on other expenses they incur with VAT making rental prices vulnerable to an uptick said Lukman Hajje chief commercial officer of Propertyfinder Group. From a developer s standpoint VAT will certainly impact the contract price in construction contracts. And since Dubai developers have been ramping up launches of their off-plan projects in the last six months it s imperative that they lock down processes so they are prepared to recoup potential losses under the new taxation system he said. Hajje pointed out that while location may be one of the top three most important things in real estate for developers it s all a...
Orascom Construction has reported a consolidated first half 2017 revenue of 2.012 billion in line with the previous year. Consolidated net income attributable to shareholders increased 4.7 per cent year on year to 51.7 million in H1 2017 and decreased 10.2 per cent y-o-y to 23.7 million in Q2 2017. The Mena region accounted for 54 per cent of total revenue of which Egypt represented 91 per cent while Weitz and Contrack Watts comprised 28 per cent of total. Net income in H1 2017 in Mena reflects the improved performance in the second quarter while net income in the US was impacted by the realisation of a deferred tax asset of 20 million the company said. Consolidated EBITDA increased 12.1 per cent year on year to 111.1 million in H1 2017 and 7.4 per cent y-o-y to 54 million in Q2 2017. EBITDA margin improved to 5.5 per cent and 5.7 per cent in H1 and Q2 2017 respectively. Particularly EBITDA margin in Mena rebounded in Q2 2017 to 9...
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Orascom Construction has reported a consolidated first half 2017 revenue of 2.012 billion in line with the previous year. Consolidated net income attributable to shareholders increased 4.7 per cent year on year to 51.7 million in H1 2017 and decreased 10.2 per cent y-o-y to 23.7 million in Q2 2017. The Mena region accounted for 54 per cent of total revenue of which Egypt represented 91 per cent while Weitz and Contrack Watts comprised 28 per cent of total. Net income in H1 2017 in Mena reflects the improved performance in the second quarter while net income in the US was impacted by the realisation of a deferred tax asset of 20 million the company said. Consolidated EBITDA increased 12.1 per cent year on year to 111.1 million in H1 2017 and 7.4 per cent y-o-y to 54 million in Q2 2017. EBITDA margin improved to 5.5 per cent and 5.7 per cent in H1 and Q2 2017 respectively. Particularly EBITDA margin in Mena rebounded in Q2 2017 to 9...
The Abu Dhabi Chamber of Commerce and Industry in co-operation with the Federal Tax Authority last week organised a workshop in Abu Dhabi on applying the value-added tax (VAT) system in the UAE. The workshop titled VAT for Real Estate Sector and Registration Mechanism aimed at spreading awareness among real estate companies on the impending VAT application in the country said a Wam news agency report. Abdullah Al Qubaisi deputy director-general of the Abu Dhabi Chamber said: The first workshop on the new VAT system witnessed unprecedented attendance with more than 600 people who represent different private sector companies attending the workshop. Through this workshop we aimed to spread awareness among real estate developers and companies about the value-added tax in this sector and exchange ideas and points of view as well as answer their queries he added. Sarah Al Habshi...
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The Abu Dhabi Chamber of Commerce and Industry in co-operation with the Federal Tax Authority last week organised a workshop in Abu Dhabi on applying the value-added tax (VAT) system in the UAE. The workshop titled VAT for Real Estate Sector and Registration Mechanism aimed at spreading awareness among real estate companies on the impending VAT application in the country said a Wam news agency report. Abdullah Al Qubaisi deputy director-general of the Abu Dhabi Chamber said: The first workshop on the new VAT system witnessed unprecedented attendance with more than 600 people who represent different private sector companies attending the workshop. Through this workshop we aimed to spread awareness among real estate developers and companies about the value-added tax in this sector and exchange ideas and points of view as well as answer their queries he added. Sarah Al Habshi...
Oman Global Logistics Group (ASYAD) the sultanate s logistics flagship plans to establish a National Ports Community System in Oman a landmark initiative that will help further the nation s ambitions to become one of the top logistics-enabled economies of the world said a report. The National Ports Community System is an electronic platform that will integrate the disparate systems currently operated by various stakeholders who together make up the shipping port maritime and logistics community of the sultanate added the Oman Daily Observer report. Included in this grouping of stakeholders are the three principal seaports of Oman at Salalah Suhar and Duqm the international airports the Directorate General of Customs (Royal Oman Police) Ministry of Agriculture and Fisheries and ASYAD it said. Based on the ...
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Oman Global Logistics Group (ASYAD) the sultanate s logistics flagship plans to establish a National Ports Community System in Oman a landmark initiative that will help further the nation s ambitions to become one of the top logistics-enabled economies of the world said a report. The National Ports Community System is an electronic platform that will integrate the disparate systems currently operated by various stakeholders who together make up the shipping port maritime and logistics community of the sultanate added the Oman Daily Observer report. Included in this grouping of stakeholders are the three principal seaports of Oman at Salalah Suhar and Duqm the international airports the Directorate General of Customs (Royal Oman Police) Ministry of Agriculture and Fisheries and ASYAD it said. Based on the ...
The Middle East and Africa (MEA) hospitality market is witnessing solid growth with a total of 123 589 rooms under construction in region said a report. Of this about 95 089 rooms are under construction in the Middle East - up 14.3 per cent in year-over-year comparisons while the rest are in the African region said STR s July 2017 Pipeline Report. Dubai topped the the MEA list for the largest number of rooms under construction with the total put at 23 816 rooms in 18 hotels. Three other markets reported more than 5 000 rooms under construction in the region: Makkah Saudi Arabia (23 816 rooms in 18 projects) Doha Qatar (8 714 rooms in 36 projects) Riyadh Saudi Arabia (6 712 rooms in 30 projects). Africa also reported continued development with 28 500 rooms in 163 hotels under contruction a 4.8 per cent decrease in year-over-year comparisons. The pipline report also highlighted rooms under cont...
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The Middle East and Africa (MEA) hospitality market is witnessing solid growth with a total of 123 589 rooms under construction in region said a report. Of this about 95 089 rooms are under construction in the Middle East - up 14.3 per cent in year-over-year comparisons while the rest are in the African region said STR s July 2017 Pipeline Report. Dubai topped the the MEA list for the largest number of rooms under construction with the total put at 23 816 rooms in 18 hotels. Three other markets reported more than 5 000 rooms under construction in the region: Makkah Saudi Arabia (23 816 rooms in 18 projects) Doha Qatar (8 714 rooms in 36 projects) Riyadh Saudi Arabia (6 712 rooms in 30 projects). Africa also reported continued development with 28 500 rooms in 163 hotels under contruction a 4.8 per cent decrease in year-over-year comparisons. The pipline report also highlighted rooms under cont...
The project to build first Iranian university in Iraq named Al-Mustafa Al-Amin was launched in a ceremony in Kadhemein on Monday a report said. The university will house five faculties including experimental sciences humanities and Islamic sciences Abdollah Hassani head of university s board of trustees and vice chancellor for administrative and financial affairs was quoted as saying in the Irna report. Faculties of literature jurisprudence and law will be set up in the first stage of the project he said. Hassani further noted the university will be constructed in an area of 22 500 sq m and it is expected to host 3 000 students initially. Meanwhile Iran s Cultural Office in Iraq was quoted as saying that the two neighbouring states have so far signed over 50 scientific and academic memoranda of understanding and over 3 000 Iraqi students are studying in Iranian universities. ...
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The project to build first Iranian university in Iraq named Al-Mustafa Al-Amin was launched in a ceremony in Kadhemein on Monday a report said. The university will house five faculties including experimental sciences humanities and Islamic sciences Abdollah Hassani head of university s board of trustees and vice chancellor for administrative and financial affairs was quoted as saying in the Irna report. Faculties of literature jurisprudence and law will be set up in the first stage of the project he said. Hassani further noted the university will be constructed in an area of 22 500 sq m and it is expected to host 3 000 students initially. Meanwhile Iran s Cultural Office in Iraq was quoted as saying that the two neighbouring states have so far signed over 50 scientific and academic memoranda of understanding and over 3 000 Iraqi students are studying in Iranian universities. ...
A total of 68 real estate projects representing a value of Dh21 billion ( 5.71 billion) were registered in Dubai UAE during the first half of the year according to latest figures from Dubai Land Department (DLD). A total of 713 developers are registered in DLD s database alongside a total of 483 projects Sultan Butti bin Mejren director-general of DLD was quoted as saying by Wam the Emirates official news agency. Bin Mejren added: Dubai is currently witnessing increasing interest from international investors which has reinforced confidence in our real estate sector and its future prospects. Emphasising the vitality of Dubai s real estate market bin Mejren explained that since the establishment of the Real Estate Regulatory Agency (Rera) ten years ago 535 projects of various sizes have been completed supporting a variety of economic activities in Dubai. The first half of this year...
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A total of 68 real estate projects representing a value of Dh21 billion ( 5.71 billion) were registered in Dubai UAE during the first half of the year according to latest figures from Dubai Land Department (DLD). A total of 713 developers are registered in DLD s database alongside a total of 483 projects Sultan Butti bin Mejren director-general of DLD was quoted as saying by Wam the Emirates official news agency. Bin Mejren added: Dubai is currently witnessing increasing interest from international investors which has reinforced confidence in our real estate sector and its future prospects. Emphasising the vitality of Dubai s real estate market bin Mejren explained that since the establishment of the Real Estate Regulatory Agency (Rera) ten years ago 535 projects of various sizes have been completed supporting a variety of economic activities in Dubai. The first half of this year...
Cityview Real Estate Development Company a Bahrain real estate development company has announced that construction of the company s Landmark Cityview project is continuing in full force and that 90 percent of the work has been completed. I am pleased to report that the project is going on as planned and that work is on schedule said Cityview chairman Abdulhakeem Al Mutawa. The residential tower in the Seef District across the road from Dana Mall comprises a total of 88 apartments. Ithmaar Bank is a 51 percent shareholder in Cityview. Construction is continuing in full force and we are committed to delivering the apartments before the end of the year Al Mutawa said. The announcement follows a visit by Al Mutawa and other officials to the building site where they reviewed plans and inspected progress. Works has commenced on the tiles and doors while orders have been placed wi...
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Cityview Real Estate Development Company a Bahrain real estate development company has announced that construction of the company s Landmark Cityview project is continuing in full force and that 90 percent of the work has been completed. I am pleased to report that the project is going on as planned and that work is on schedule said Cityview chairman Abdulhakeem Al Mutawa. The residential tower in the Seef District across the road from Dana Mall comprises a total of 88 apartments. Ithmaar Bank is a 51 percent shareholder in Cityview. Construction is continuing in full force and we are committed to delivering the apartments before the end of the year Al Mutawa said. The announcement follows a visit by Al Mutawa and other officials to the building site where they reviewed plans and inspected progress. Works has commenced on the tiles and doors while orders have been placed wi...
Dubai Land Department (DLD) has announced that the total value of the real estate transactions in the emirate exceeded Dh390 billion ( 106.18 billion) covering 95 000 deals in the 18 months from January 2016 to July 2017. Sultan Butti bin Mejren director general of DLD was quoted by Wam news agency as saying: These figures demonstrate an atmosphere of optimism across the real estate market. They also support expert views that emphasise the substantial growth of the real estate market and the maturity it has achieved. Bin Mejren added that the figures underscore the growing investor confidence as well as an increase in the attractiveness of Dubai for real estate investment. The report reveals that the real estate market saw a considerable number of sales accounting for 67 409 transactions covering land buildings and units worth Dh165.731 billion ( 45.12 billion) during the period. Mortgages were registered at a value of ...
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Dubai Land Department (DLD) has announced that the total value of the real estate transactions in the emirate exceeded Dh390 billion ( 106.18 billion) covering 95 000 deals in the 18 months from January 2016 to July 2017. Sultan Butti bin Mejren director general of DLD was quoted by Wam news agency as saying: These figures demonstrate an atmosphere of optimism across the real estate market. They also support expert views that emphasise the substantial growth of the real estate market and the maturity it has achieved. Bin Mejren added that the figures underscore the growing investor confidence as well as an increase in the attractiveness of Dubai for real estate investment. The report reveals that the real estate market saw a considerable number of sales accounting for 67 409 transactions covering land buildings and units worth Dh165.731 billion ( 45.12 billion) during the period. Mortgages were registered at a value of ...
Al Tamdeen Real Estate Company posted a net profit of KD7 million ( 23.2 million) for the first half of 2017 a 1.3 per cent decline as compared to earnings in the same period of 2016. The company said in a statement posted on Boursa Kuwait website that shareholders equity totalled KD142.2 million ( 471.3 million) in H1 2017 in contrast to KD128.2 million ( 424.9 million) in H1 2016. Assets totalled KD481.9 million ( 1.59 billion) liabilities KD253.9 million ( 841.5 million) it said. Al Tamdeen established in 1982 invests in property in and outside Kuwait. It also develops realty ventures manages property establishes and runs real-estate investment funds conducts studies and provides consultancy. ...
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Al Tamdeen Real Estate Company posted a net profit of KD7 million ( 23.2 million) for the first half of 2017 a 1.3 per cent decline as compared to earnings in the same period of 2016. The company said in a statement posted on Boursa Kuwait website that shareholders equity totalled KD142.2 million ( 471.3 million) in H1 2017 in contrast to KD128.2 million ( 424.9 million) in H1 2016. Assets totalled KD481.9 million ( 1.59 billion) liabilities KD253.9 million ( 841.5 million) it said. Al Tamdeen established in 1982 invests in property in and outside Kuwait. It also develops realty ventures manages property establishes and runs real-estate investment funds conducts studies and provides consultancy. ...
Access World Logistics a joint-venture between the UAE-based Rais Hassan Saadi (RHS) Group and Switzerland-headquartered Access World Group has carried out the ground-breaking ceremony for its upcoming 3rd party logistics facility at Jebel Ali Free Zone (Jafza). The event was attended by Mohammed Al Muallem senior vice president and managing director DP World UAE Region and Jafza CEO; Asim Al Abbasi CFO of Jafza; Abdulla Bin Damithan director commercial DP World UAE Region; Madiha Salem director EHS Trakhees; other officials from various authorities key clients service providers and leaders from the shipping and logistics fraternity. Saleem Al Rais director RHS Group; Peter M Waszkis CEO Access World; Peter Barnhoorn director Access World Logistics; and other distinguished members from the RHS Group as well as Access World were also present at the event. Waszkis said: our vision ...
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Access World Logistics a joint-venture between the UAE-based Rais Hassan Saadi (RHS) Group and Switzerland-headquartered Access World Group has carried out the ground-breaking ceremony for its upcoming 3rd party logistics facility at Jebel Ali Free Zone (Jafza). The event was attended by Mohammed Al Muallem senior vice president and managing director DP World UAE Region and Jafza CEO; Asim Al Abbasi CFO of Jafza; Abdulla Bin Damithan director commercial DP World UAE Region; Madiha Salem director EHS Trakhees; other officials from various authorities key clients service providers and leaders from the shipping and logistics fraternity. Saleem Al Rais director RHS Group; Peter M Waszkis CEO Access World; Peter Barnhoorn director Access World Logistics; and other distinguished members from the RHS Group as well as Access World were also present at the event. Waszkis said: our vision ...
Trimble has announced three new versions of its Tekla software solutions for structural engineering fabrication and construction teams. They include: Tekla Structures 2017 Tekla Structural Designer 2017 and Tekla Tedds 2017. Continuous development of Tekla Building Information Modeling (BIM) solutions demonstrates Trimble s commitment to innovation in structural engineering off-site prefabrication and on-site efficiency the company said. In these new Tekla versions we focus on improving communication and modeling methods because these are directly tied to the productivity of core tasks within large workgroups and projects said Jari Heino general manager of Trimble s Structures Division. The software provides a variety of completely new tools for users to expand their scope of work and collaborate with project stakeholders to ensure that the entire team is on the same page. &nbs...
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Trimble has announced three new versions of its Tekla software solutions for structural engineering fabrication and construction teams. They include: Tekla Structures 2017 Tekla Structural Designer 2017 and Tekla Tedds 2017. Continuous development of Tekla Building Information Modeling (BIM) solutions demonstrates Trimble s commitment to innovation in structural engineering off-site prefabrication and on-site efficiency the company said. In these new Tekla versions we focus on improving communication and modeling methods because these are directly tied to the productivity of core tasks within large workgroups and projects said Jari Heino general manager of Trimble s Structures Division. The software provides a variety of completely new tools for users to expand their scope of work and collaborate with project stakeholders to ensure that the entire team is on the same page. &nbs...
Real estate transactions in Dubai UAE during the first half (H1) the year reached a value of Dh132 billion ( 36 billion) achieved through 35 571 sales mortgages and other transactions according to figures released by Dubai Land Department (DLD). DLD s H1 2017 Transactions Report reveals that the market has achieved a high percentage of growth compared to the same period last year with total value increasing by 16.8 per cent from a total of 7 320 transactions an increase of 25.91 per cent compared to transactions for the first six months of 2016. The report also confirms that the Dubai real estate market generated a total of 25 864 sales transactions worth over Dh63 billion and 7 893 mortgage transactions worth Dh60 billion while 1 814 other types of transaction brought in Dh9 billion. Providing an analysis of the value generated by different types of property the report shows that the land category represented Dh91 ...
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Real estate transactions in Dubai UAE during the first half (H1) the year reached a value of Dh132 billion ( 36 billion) achieved through 35 571 sales mortgages and other transactions according to figures released by Dubai Land Department (DLD). DLD s H1 2017 Transactions Report reveals that the market has achieved a high percentage of growth compared to the same period last year with total value increasing by 16.8 per cent from a total of 7 320 transactions an increase of 25.91 per cent compared to transactions for the first six months of 2016. The report also confirms that the Dubai real estate market generated a total of 25 864 sales transactions worth over Dh63 billion and 7 893 mortgage transactions worth Dh60 billion while 1 814 other types of transaction brought in Dh9 billion. Providing an analysis of the value generated by different types of property the report shows that the land category represented Dh91 ...
The overall sentiment in the Makkah real estate market was boosted during the first half (H1) of 2017 as the government lifted the quota on Hajj pilgrims despite ongoing major infrastructural work on the Holy Mosque a report said. This shift in policy should further benefit retailers in Makkah who typically enjoy above average sales during the Hajj season explained the H1 2017 Makkah Real Estate Market Overview report from JLL a leading real estate investment and advisory firm. Retail rents declined by 7.5 per cent in the central area and over the past 6 months as owners adjusted rentals to more realistic levels to the benefit of retailers. Rents are expected to stabilize at current levels over the next 6 months. Data from the Ministry of Hajj and Umrah highlighted an increase in the number of Umrah pilgrims during H1 as the number of visas issued increased by 5 per cent to reach 6.7 million compared to last year&rsqu...
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The overall sentiment in the Makkah real estate market was boosted during the first half (H1) of 2017 as the government lifted the quota on Hajj pilgrims despite ongoing major infrastructural work on the Holy Mosque a report said. This shift in policy should further benefit retailers in Makkah who typically enjoy above average sales during the Hajj season explained the H1 2017 Makkah Real Estate Market Overview report from JLL a leading real estate investment and advisory firm. Retail rents declined by 7.5 per cent in the central area and over the past 6 months as owners adjusted rentals to more realistic levels to the benefit of retailers. Rents are expected to stabilize at current levels over the next 6 months. Data from the Ministry of Hajj and Umrah highlighted an increase in the number of Umrah pilgrims during H1 as the number of visas issued increased by 5 per cent to reach 6.7 million compared to last year&rsqu...
A non-governmental not-for-profit professional coalition of the construction sector has launched a new universal system that compares construction project costs around the world. The International Construction Measurement Standards (ICMS) coalition said its system aims to improve cost prediction in infrastructure projects and slash infrastructure investment risk. This project is the first of its kind with global coverage bringing together numerous organisations from around the world to create shared international standards for presenting entire construction costs ICMS said. This first edition of ICMS focuses on capital costs; however future editions of ICMS may incorporate other matters such as costs-in-use it said. Consistent practice in presenting construction costs globally will bring significant benefits to construction cost management it said. Globalisation of the construction busine...
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A non-governmental not-for-profit professional coalition of the construction sector has launched a new universal system that compares construction project costs around the world. The International Construction Measurement Standards (ICMS) coalition said its system aims to improve cost prediction in infrastructure projects and slash infrastructure investment risk. This project is the first of its kind with global coverage bringing together numerous organisations from around the world to create shared international standards for presenting entire construction costs ICMS said. This first edition of ICMS focuses on capital costs; however future editions of ICMS may incorporate other matters such as costs-in-use it said. Consistent practice in presenting construction costs globally will bring significant benefits to construction cost management it said. Globalisation of the construction busine...
GWC a leading logistics provider based in Qatar said it has registered a net profit of QR105.3 million ( 29 million) for the first half of 2017 up four per cent over QR101.3 million ( 27.7 million) for the same period last year. This growth was mainly due to the company s judicious leverage of its revenue streams which surged to QR455 million at the end of the period recording a six per cent increase from QR430.1 million the previous year. Constantly seeking the best interest of its shareholders the company s earnings per share also increased to QR1.8 in the first six months of 2017 a rise from QR1.76 during the same period in 2016. On the results chairman Sheikh Abdulla bin Fahad bin Jassem bin Jabor Al Thani said: Every effort has been taken so that the company serves the needs of the state particularly during the current circumstances. We continue to search for alternatives and t...
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GWC a leading logistics provider based in Qatar said it has registered a net profit of QR105.3 million ( 29 million) for the first half of 2017 up four per cent over QR101.3 million ( 27.7 million) for the same period last year. This growth was mainly due to the company s judicious leverage of its revenue streams which surged to QR455 million at the end of the period recording a six per cent increase from QR430.1 million the previous year. Constantly seeking the best interest of its shareholders the company s earnings per share also increased to QR1.8 in the first six months of 2017 a rise from QR1.76 during the same period in 2016. On the results chairman Sheikh Abdulla bin Fahad bin Jassem bin Jabor Al Thani said: Every effort has been taken so that the company serves the needs of the state particularly during the current circumstances. We continue to search for alternatives and t...
Engineering Contracting Company (ECC) one of the most established and diverse contracting companies in the region has been awarded a multi-storey carpark project in Dubai in joint venture with McLaren Construction. The car park offering 2 800 parking spaces is coming up opposite the Dubai World Trade Centre (DWTC) in Dubai UAE. Construction of the strategically located car parking structure which commenced in March 2017 is expected to take 12 months to complete and will cover a built-up area of 89 000 sq m said a statement. Commenting on the joint venture project Kareem Farah director and COO of ECC said: We are pleased to working with McLaren on our first multi-storey carpark project adding to the long list of diverse projects we have undertaken across our 42 year history in the UAE. Innovatively designed by Parsons Architecture this project is centrally located in Dubai providing millions of visitors from around ...
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Engineering Contracting Company (ECC) one of the most established and diverse contracting companies in the region has been awarded a multi-storey carpark project in Dubai in joint venture with McLaren Construction. The car park offering 2 800 parking spaces is coming up opposite the Dubai World Trade Centre (DWTC) in Dubai UAE. Construction of the strategically located car parking structure which commenced in March 2017 is expected to take 12 months to complete and will cover a built-up area of 89 000 sq m said a statement. Commenting on the joint venture project Kareem Farah director and COO of ECC said: We are pleased to working with McLaren on our first multi-storey carpark project adding to the long list of diverse projects we have undertaken across our 42 year history in the UAE. Innovatively designed by Parsons Architecture this project is centrally located in Dubai providing millions of visitors from around ...
The real estate market in Abu Dhabi witnessed challenging market conditions during the second quarter mainly due to a drop in demand and increase in supply of housing units in the UAE capital according to a leading real estate consultancy Asteco. The Q2 rental price declines for apartments and villas were four per cent and one per cent respectively stated Asteco in its latest report. The apartment rentals fell eight per cent year-on-year while the villas were down five per cent. On the quarter-on-quarter scenario Asteco said the decline was four and one per cent respectively it added. According to the expert the apartment and villa sales prices registered a decline of eight and four per cent respectively year-on-year while it fell four and two per cent quarter-on-quarter. Approximately 600 apartments were handed over during the second quarter and more than 2 000 additional units are expected to be delivered...
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The real estate market in Abu Dhabi witnessed challenging market conditions during the second quarter mainly due to a drop in demand and increase in supply of housing units in the UAE capital according to a leading real estate consultancy Asteco. The Q2 rental price declines for apartments and villas were four per cent and one per cent respectively stated Asteco in its latest report. The apartment rentals fell eight per cent year-on-year while the villas were down five per cent. On the quarter-on-quarter scenario Asteco said the decline was four and one per cent respectively it added. According to the expert the apartment and villa sales prices registered a decline of eight and four per cent respectively year-on-year while it fell four and two per cent quarter-on-quarter. Approximately 600 apartments were handed over during the second quarter and more than 2 000 additional units are expected to be delivered...
The shift to a unified national tax has set off a wave of change in India s notoriously inefficient logistics sector as companies alter the way they store move and account for goods according to the Agility Mid-Year Emerging Markets Review. India s Goods and Services Tax (GST) introduced July 1 rolled more than a dozen state and federal levies into a single tax. The GST is already prompting logistics providers and their customers to consolidate warehousing revamp road freight strategies and invest in system upgrades to improve the efficiency of their supply chains said the report by Agility a leading global logistics provider. The GST could cut logistics costs in India s formal organized logistics sector by 20 per cent and provide a dramatic boost to the country s surging economy according to the report which also examines the impact of the UK s Brexit on emerging markets. ...
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The shift to a unified national tax has set off a wave of change in India s notoriously inefficient logistics sector as companies alter the way they store move and account for goods according to the Agility Mid-Year Emerging Markets Review. India s Goods and Services Tax (GST) introduced July 1 rolled more than a dozen state and federal levies into a single tax. The GST is already prompting logistics providers and their customers to consolidate warehousing revamp road freight strategies and invest in system upgrades to improve the efficiency of their supply chains said the report by Agility a leading global logistics provider. The GST could cut logistics costs in India s formal organized logistics sector by 20 per cent and provide a dramatic boost to the country s surging economy according to the report which also examines the impact of the UK s Brexit on emerging markets. ...
While Dubai s commercial real estate market has experienced muted growth over the past six months the recently-announced Emirates Towers Business Park is set to become the most defining commercial development in the emirate over 10 years according to leading international real estate consultant Cluttons. The development which is set to help triple the size of the wider Dubai International Financial Centre (DIFC) by 2024 will provide a welcome source of relief to the dwindling supply of Grade A space in the area stated Cluttons in its bi-annual Dubai Office Market Bulletin for Summer 2017. Faisal Durrani the head of research at Cluttons said: As we enter the second half of 2017 we are seeing new major projects being announced and launched in central Dubai such as the Dh5 billion ( 1.36 billion) Emirates Tower Business Park project which is located in close proximity to Dubai s financial district. Th...
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While Dubai s commercial real estate market has experienced muted growth over the past six months the recently-announced Emirates Towers Business Park is set to become the most defining commercial development in the emirate over 10 years according to leading international real estate consultant Cluttons. The development which is set to help triple the size of the wider Dubai International Financial Centre (DIFC) by 2024 will provide a welcome source of relief to the dwindling supply of Grade A space in the area stated Cluttons in its bi-annual Dubai Office Market Bulletin for Summer 2017. Faisal Durrani the head of research at Cluttons said: As we enter the second half of 2017 we are seeing new major projects being announced and launched in central Dubai such as the Dh5 billion ( 1.36 billion) Emirates Tower Business Park project which is located in close proximity to Dubai s financial district. Th...
The UAE emirate of Fujairah has reached an agreement with Niras an international multidisciplinary engineering consultancy to start the construction of the first phase of its ambitious Smart Logistics City project. The agreement was signed in the Danish capital of Copenhagen by Mohammed Saeed Al Dhanhani the head of the Emiri Court in Fujairah the director-general of the Fujairah Investment Corporation and representative of the Fujairah government signed the agreement with Karol Marcinkowski the chairman of Niras in the presence of its CEO Martin Pedersen. The project which will come up on a 68 000 sq m area of land at a primary location is set to be developed in three phases over the next five years reported state news agency Wam . As per the partnership deal the work on the initial phase will begin by end of 2018 it stated. Al Dhanhani pointed out that the project reflects the global economic and in...
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The UAE emirate of Fujairah has reached an agreement with Niras an international multidisciplinary engineering consultancy to start the construction of the first phase of its ambitious Smart Logistics City project. The agreement was signed in the Danish capital of Copenhagen by Mohammed Saeed Al Dhanhani the head of the Emiri Court in Fujairah the director-general of the Fujairah Investment Corporation and representative of the Fujairah government signed the agreement with Karol Marcinkowski the chairman of Niras in the presence of its CEO Martin Pedersen. The project which will come up on a 68 000 sq m area of land at a primary location is set to be developed in three phases over the next five years reported state news agency Wam . As per the partnership deal the work on the initial phase will begin by end of 2018 it stated. Al Dhanhani pointed out that the project reflects the global economic and in...
National Shipping Company of Saudi Arabia (Bahri) a leader in logistics and transportation has signed an agreement with the international Group Bolloré to establish a new logistics joint venture between the company and Bolloré Logistics. France-based Bolloré Logistics is one of the largest transport and logistics companies in the world. This new cooperation will serve the needs of customers in Saudi Arabia and the wider region. The agreement marks another step of Bahri s and Bolloré Logistics expansion into the fast-growing logistics and supply chain management market within the GCC said a statement from the company. To be headquartered in Riyadh the joint venture will leverage Bolloré s global reach and logistics platform along with Bahri s local logistics expertise wide customer base strong maritime expertise and its fleet of state-of-the-art multi-purpose vessels i...
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National Shipping Company of Saudi Arabia (Bahri) a leader in logistics and transportation has signed an agreement with the international Group Bolloré to establish a new logistics joint venture between the company and Bolloré Logistics. France-based Bolloré Logistics is one of the largest transport and logistics companies in the world. This new cooperation will serve the needs of customers in Saudi Arabia and the wider region. The agreement marks another step of Bahri s and Bolloré Logistics expansion into the fast-growing logistics and supply chain management market within the GCC said a statement from the company. To be headquartered in Riyadh the joint venture will leverage Bolloré s global reach and logistics platform along with Bahri s local logistics expertise wide customer base strong maritime expertise and its fleet of state-of-the-art multi-purpose vessels i...
Egypt-based Cairo Angels a global network of angel investors focused on supporting startup opportunities in Egypt the Middle East and Africa has revealed its investment in Bosta a logistics tech startup based in Cairo. Bosta is an on-demand delivery platform that allows customers to send receive and track deliveries at the push of a button. The company plans to use the investment to increase its product offering and to grow to other markets in the Middle East and North Africa (Mena) region said a Daily News Egypt report. The Cairo Angels investment follows a previous investment by Dubai-based Numu Capital it said. The company is now well capitalised to grab a significant stake in this fast growing and exciting sector added the report. ...
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Egypt-based Cairo Angels a global network of angel investors focused on supporting startup opportunities in Egypt the Middle East and Africa has revealed its investment in Bosta a logistics tech startup based in Cairo. Bosta is an on-demand delivery platform that allows customers to send receive and track deliveries at the push of a button. The company plans to use the investment to increase its product offering and to grow to other markets in the Middle East and North Africa (Mena) region said a Daily News Egypt report. The Cairo Angels investment follows a previous investment by Dubai-based Numu Capital it said. The company is now well capitalised to grab a significant stake in this fast growing and exciting sector added the report. ...
UAE-based Ecolog a leading provider of supply chain construction technology facility management and environmental services has appointed Adil Toubia as its new vice chairman and chief executive officer. As a well-recognized global executive in the oil and gas industry Toubia brings to Ecolog a wealth of experience and a long list of recognized achievements said the company in a statement. His stellar background perfectly aligns with Ecolog s strategic development and vision to become the pacesetter in its field of activities. Ecolog currently working in more than 35 countries provides turnkey and customized support solutions to governments defence humanitarian organizations and commercial clients in the sectors of oil and gas mining energy and infrastructure. Toubia is the former worldwide president of the Wireline and Drilling divisions at Schlumberger the leading global oilfield services company wh...
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UAE-based Ecolog a leading provider of supply chain construction technology facility management and environmental services has appointed Adil Toubia as its new vice chairman and chief executive officer. As a well-recognized global executive in the oil and gas industry Toubia brings to Ecolog a wealth of experience and a long list of recognized achievements said the company in a statement. His stellar background perfectly aligns with Ecolog s strategic development and vision to become the pacesetter in its field of activities. Ecolog currently working in more than 35 countries provides turnkey and customized support solutions to governments defence humanitarian organizations and commercial clients in the sectors of oil and gas mining energy and infrastructure. Toubia is the former worldwide president of the Wireline and Drilling divisions at Schlumberger the leading global oilfield services company wh...
With more and more developers in the region opting green construction materials for their Expo 2020 projects the use of glass as a prominent building material is becoming popular said experts ahead of Gulf Glass expo in Dubai UAE. One of the largest flat and container glass event in the region Gulf Glass 2017 will see leading companies showcase their latest manufacturing and processing technology from September 25 to 27 at the Dubai World Trade Center. More than 140 regional and international exhibiting brands will be featured face-to-face business interactions facilitated and a consistent customer-centric focus localizing operations and relationships to keep businesses informed and connecting them with relevant consumers according to organisers dmg events Middle East Asia & Africa. Gulf Glass is co-located with The Outdoor Design & Build Show FM Expo and Windows Doors & Façades which will bring even more...
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With more and more developers in the region opting green construction materials for their Expo 2020 projects the use of glass as a prominent building material is becoming popular said experts ahead of Gulf Glass expo in Dubai UAE. One of the largest flat and container glass event in the region Gulf Glass 2017 will see leading companies showcase their latest manufacturing and processing technology from September 25 to 27 at the Dubai World Trade Center. More than 140 regional and international exhibiting brands will be featured face-to-face business interactions facilitated and a consistent customer-centric focus localizing operations and relationships to keep businesses informed and connecting them with relevant consumers according to organisers dmg events Middle East Asia & Africa. Gulf Glass is co-located with The Outdoor Design & Build Show FM Expo and Windows Doors & Façades which will bring even more...
UAE-based Al Shirawi Infrastructure Construction said it has achieved the ISO 9001:2015 certification thus becoming the first infrastructure construction company certified by British Standards Institution (BSI) in the region against the 2015 edition of the quality management standard. A specialist in utility infrastructure development and accompanying underground works Al Shirawi said it caters to power distribution water conveyance and mechanical and telecommunication network. The ISO certification was completed over a period of five months and involved over 24 sessions to define critical processes four days of internal audit and four sessions of management review meeting. In addition to this checks were conducted by three internal auditors and BSI performed a two-stage stage audit to ensure compliance. To mark this milestone a special ceremony was held at Al Shirawi Infrastructure Construction of...
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UAE-based Al Shirawi Infrastructure Construction said it has achieved the ISO 9001:2015 certification thus becoming the first infrastructure construction company certified by British Standards Institution (BSI) in the region against the 2015 edition of the quality management standard. A specialist in utility infrastructure development and accompanying underground works Al Shirawi said it caters to power distribution water conveyance and mechanical and telecommunication network. The ISO certification was completed over a period of five months and involved over 24 sessions to define critical processes four days of internal audit and four sessions of management review meeting. In addition to this checks were conducted by three internal auditors and BSI performed a two-stage stage audit to ensure compliance. To mark this milestone a special ceremony was held at Al Shirawi Infrastructure Construction of...
The UAE estate market witnessed mixed trends in the first half with both the sale and rental prices at Dubai and Abu Dhabi registering a minor decline; however it remained a rich ground for investors looking for strong returns according to a report. Compared to the second half of 2016 the average rents have dropped by 10.4 per cent and average property sale prices fell by 7 per cent stated leading UAE portal Bayut in its review. The decrease from both sides of the real estate market indicates that the average return on investment (ROI) has remained stable (4.7 per cent) while the market itself has become increasingly accessible for buyers it added. On the Dubai scenario Bayut said by the end of first six months the average rental prices in Dubai fell across all property types . For example the average rent for a three-bed villa has dropped by 7.6 per cent while the average rent for a 1-bed apartment has declined b...
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The UAE estate market witnessed mixed trends in the first half with both the sale and rental prices at Dubai and Abu Dhabi registering a minor decline; however it remained a rich ground for investors looking for strong returns according to a report. Compared to the second half of 2016 the average rents have dropped by 10.4 per cent and average property sale prices fell by 7 per cent stated leading UAE portal Bayut in its review. The decrease from both sides of the real estate market indicates that the average return on investment (ROI) has remained stable (4.7 per cent) while the market itself has become increasingly accessible for buyers it added. On the Dubai scenario Bayut said by the end of first six months the average rental prices in Dubai fell across all property types . For example the average rent for a three-bed villa has dropped by 7.6 per cent while the average rent for a 1-bed apartment has declined b...
In recognition of the increasingly important role of technology in developing smarter and more integrated building projects UAE-based Al Shafar General Contracting (ASGC) has appointed its first chief information officer (CIO) Herbert Fuchs to drive the company s digital transformation efforts. A leading UAE construction group ASGC said the move is indicative of the sector s increasing investments in technology-enabled processes. Based in Dubai Fuchs will help lead the award-winning company in the adoption of new technologies that will add value to ASGC s partners customers and employees said the company in a statement. In an industry that has traditionally relied on raw materials and a large labor workforce having a CIO is still relatively rare occurrence in the UAE s contracting industry. The UAE has a strong vision for developing smarter communities that are powered by cutting-edge tech...
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In recognition of the increasingly important role of technology in developing smarter and more integrated building projects UAE-based Al Shafar General Contracting (ASGC) has appointed its first chief information officer (CIO) Herbert Fuchs to drive the company s digital transformation efforts. A leading UAE construction group ASGC said the move is indicative of the sector s increasing investments in technology-enabled processes. Based in Dubai Fuchs will help lead the award-winning company in the adoption of new technologies that will add value to ASGC s partners customers and employees said the company in a statement. In an industry that has traditionally relied on raw materials and a large labor workforce having a CIO is still relatively rare occurrence in the UAE s contracting industry. The UAE has a strong vision for developing smarter communities that are powered by cutting-edge tech...
The retail sector in the Saudi city of Jeddah is experiencing some improvements but overall the city s real estate sector has remained relatively subdued in the second quarter with further declines in performance recorded according to property expert JLL. Sentiment in the retail sector has been boosted by the reinstatement of benefits to public sector staff it said in the report . The removal of the 20 per cent quota restriction on Hajj pilgrims should see increased demand for both retail and hospitality in Jeddah. Further reforms to energy costs and the general higher cost of living may however curb domestic spending compared to historical trends it stated. There was a minor completion in the office sector over Q2 2017 that saw the Gross leasable area (GLA) of quality office space in Jeddah increase to over one million sq m. Office rents showed little change Q-o-Q...
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The retail sector in the Saudi city of Jeddah is experiencing some improvements but overall the city s real estate sector has remained relatively subdued in the second quarter with further declines in performance recorded according to property expert JLL. Sentiment in the retail sector has been boosted by the reinstatement of benefits to public sector staff it said in the report . The removal of the 20 per cent quota restriction on Hajj pilgrims should see increased demand for both retail and hospitality in Jeddah. Further reforms to energy costs and the general higher cost of living may however curb domestic spending compared to historical trends it stated. There was a minor completion in the office sector over Q2 2017 that saw the Gross leasable area (GLA) of quality office space in Jeddah increase to over one million sq m. Office rents showed little change Q-o-Q...
Bahrain-based Investcorp a leading provider and manager of alternative investment products has acquired two modern warehouse units in Doncaster one of the most important distribution locations in the UK. Additionally the company has also bought a light manufacturing facility on the Sutton Fields Estate the largest industrial estate within Hull. Investcorp said the acquisition of 504 000-sq-ft properties in the UK was the group s first real estate investment in Europe. Both the properties have been let to two different tenants on long leases. The assets were acquired for a total consideration of 35 million by the Bahrain-based investment firm in partnership with UK focused real estate investment group Brydell Partners. The two acquisitions form the seed assets of Investcorp s UK industrial and logistics programme which will target income-generating industrial assets across the UK. The programme which is pa...
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Bahrain-based Investcorp a leading provider and manager of alternative investment products has acquired two modern warehouse units in Doncaster one of the most important distribution locations in the UK. Additionally the company has also bought a light manufacturing facility on the Sutton Fields Estate the largest industrial estate within Hull. Investcorp said the acquisition of 504 000-sq-ft properties in the UK was the group s first real estate investment in Europe. Both the properties have been let to two different tenants on long leases. The assets were acquired for a total consideration of 35 million by the Bahrain-based investment firm in partnership with UK focused real estate investment group Brydell Partners. The two acquisitions form the seed assets of Investcorp s UK industrial and logistics programme which will target income-generating industrial assets across the UK. The programme which is pa...
The shortlist of nominees for the Best Stand Award at Gulf Construction Expo has been posted by the event organiser Hilal Conferences and Exhibitions (HCE) for voting to begin. The shortlist of nominees from the 2017 expo are: Haji Hassan Group Al Nooh Middle East Traders RP KP Group Paramount Doors and Espac. Exhibitions director Ahmed Suleiman said: Visitors can now vote online through the show s website (www.gulfconstructionexpo.com) where images of the nominees stands are displayed for the public to judge for themselves and vote for their favourite. The criteria for the short-list recognised the exhibitor s creativity brand promotion product promotion and functionality for conducting business on the stand added Suleiman. Gulf Construction Expo was visited by 8 300 people over the three days of the show. The shortlisted stand de...
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The shortlist of nominees for the Best Stand Award at Gulf Construction Expo has been posted by the event organiser Hilal Conferences and Exhibitions (HCE) for voting to begin. The shortlist of nominees from the 2017 expo are: Haji Hassan Group Al Nooh Middle East Traders RP KP Group Paramount Doors and Espac. Exhibitions director Ahmed Suleiman said: Visitors can now vote online through the show s website (www.gulfconstructionexpo.com) where images of the nominees stands are displayed for the public to judge for themselves and vote for their favourite. The criteria for the short-list recognised the exhibitor s creativity brand promotion product promotion and functionality for conducting business on the stand added Suleiman. Gulf Construction Expo was visited by 8 300 people over the three days of the show. The shortlisted stand de...
Kuwait s real estate market picked up momentum in May with sales surging to their highest level in 18 months hitting KD289 million ( 951 million) up 37 per cent compared to the previous year according to a report by National Bank of Kuwait (NBK). The residential and investment sectors provided significant support to Kuwait s real estate market with sales increasing by 23 per cent and 38 per cent per cent year-on-year (y/y) respectively stated the country s top bank in its report. Activity has been relatively volatile in recent months with three of the last six months seeing elevated sales something that could be signaling an end to the two year slowdown. Real estate prices across most sectors continued to hold steady currently off 9-10 per cent y/y said the report. According to NBK the residential sector bounced back following a soft April with sales jumped to KD138 million during the month on 406 t...
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Kuwait s real estate market picked up momentum in May with sales surging to their highest level in 18 months hitting KD289 million ( 951 million) up 37 per cent compared to the previous year according to a report by National Bank of Kuwait (NBK). The residential and investment sectors provided significant support to Kuwait s real estate market with sales increasing by 23 per cent and 38 per cent per cent year-on-year (y/y) respectively stated the country s top bank in its report. Activity has been relatively volatile in recent months with three of the last six months seeing elevated sales something that could be signaling an end to the two year slowdown. Real estate prices across most sectors continued to hold steady currently off 9-10 per cent y/y said the report. According to NBK the residential sector bounced back following a soft April with sales jumped to KD138 million during the month on 406 t...
The general record number for construction costs in Dubai increased during the year 2016 to 100.66 - 0.06 per cent up from 100.60 in 2015 a report said. Dubai Statistics Centre attributed the growth to an increase in the record number of raw material from 98.73 in 2015 to 98.96 in 2016 and a price rise in the building material which was up 0.23 per cent reported Wam the Emirates official news agency. In the meantime the record number for equipment and labour and other costs declined 0.19 per cent from 103.41 in 2015 to 103.22 in 2016. Construction raw material slightly increased by 0.23 per cent in 2016 on the back of an 11.23 per cent price hike in quarry materials with process industries material prices edging down by 0.27 per cent. According to the report residential building raw material edged up 0.31 per cent while non-residential building material got down by 0.10 per cent. Quarry raw material soared ...
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The general record number for construction costs in Dubai increased during the year 2016 to 100.66 - 0.06 per cent up from 100.60 in 2015 a report said. Dubai Statistics Centre attributed the growth to an increase in the record number of raw material from 98.73 in 2015 to 98.96 in 2016 and a price rise in the building material which was up 0.23 per cent reported Wam the Emirates official news agency. In the meantime the record number for equipment and labour and other costs declined 0.19 per cent from 103.41 in 2015 to 103.22 in 2016. Construction raw material slightly increased by 0.23 per cent in 2016 on the back of an 11.23 per cent price hike in quarry materials with process industries material prices edging down by 0.27 per cent. According to the report residential building raw material edged up 0.31 per cent while non-residential building material got down by 0.10 per cent. Quarry raw material soared ...
Connected trucks will help reduce operating costs through several avenues including telematics remote diagnostics/prognostics truck platooning and self-driving trucks an industry expert said. Over the next 5-10 years explosive growth in the amount of data being collected and analyzed will transform the global commercial vehicle industry said Vitali Bielski a mobility senior consultant at Frost & Sullivan a growth partnership company. Changes in the way cargo is delivered such as Uber for trucks will also fuel higher levels of connectivity. Bielski was commenting on the recent whitepaper titled Global Connected Truck Telematics Trends from Frost & Sullivan s Mobility practice. The study examines the global connected trucks market with strong focus on telematics and FMS trends and the potential effects of connectivity on fleet maintenance. It also explores areas of opportun...
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Connected trucks will help reduce operating costs through several avenues including telematics remote diagnostics/prognostics truck platooning and self-driving trucks an industry expert said. Over the next 5-10 years explosive growth in the amount of data being collected and analyzed will transform the global commercial vehicle industry said Vitali Bielski a mobility senior consultant at Frost & Sullivan a growth partnership company. Changes in the way cargo is delivered such as Uber for trucks will also fuel higher levels of connectivity. Bielski was commenting on the recent whitepaper titled Global Connected Truck Telematics Trends from Frost & Sullivan s Mobility practice. The study examines the global connected trucks market with strong focus on telematics and FMS trends and the potential effects of connectivity on fleet maintenance. It also explores areas of opportun...
Dubai-based Emirates Logistics has signed an agreement with UK s Microlise a leading transport technology and telematics company to distribute its technology and services in the Middle East. Part of the Sharaf Group the company services a large customer base across various market segments. It delivers warehousing and logistics services for many big brands in the UAE. The agreement is part of a global expansion for Microlise which has more than 250 000 vehicle connections worldwide said a statement from Emirates Logistics. It delivers services such as vehicle tracking fleet performance analysis journey management and proof of delivery to customers across all six permanently inhabited continents it said. Whilst Emirates Logistics operates its own vehicle fleets to provide logistics services in the region this new distribution partnership will see the company also selling Microlise products managing and carryi...
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Dubai-based Emirates Logistics has signed an agreement with UK s Microlise a leading transport technology and telematics company to distribute its technology and services in the Middle East. Part of the Sharaf Group the company services a large customer base across various market segments. It delivers warehousing and logistics services for many big brands in the UAE. The agreement is part of a global expansion for Microlise which has more than 250 000 vehicle connections worldwide said a statement from Emirates Logistics. It delivers services such as vehicle tracking fleet performance analysis journey management and proof of delivery to customers across all six permanently inhabited continents it said. Whilst Emirates Logistics operates its own vehicle fleets to provide logistics services in the region this new distribution partnership will see the company also selling Microlise products managing and carryi...
GFH a prominent financial group in the GCC region said it has signed an agreement with Promoseven Holdings in Bahrain to exit part of its real estate portfolio with an approximate value of 55 million. A leading business group Promoseven Holdings has interests in real estate public relations advertising hospitality investment and leisure. The Bahrain-based company also owns majority shares in Middle East Communication Networks based in capital Manama. GFH said the deal comes as part of the company s strategy to exit its non-core assets. This asset has a book value of 20 million and the deal is expected to have a positive impact on its financial results for the second quarter of 2017 it added.- TradeArabia News Service ...
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GFH a prominent financial group in the GCC region said it has signed an agreement with Promoseven Holdings in Bahrain to exit part of its real estate portfolio with an approximate value of 55 million. A leading business group Promoseven Holdings has interests in real estate public relations advertising hospitality investment and leisure. The Bahrain-based company also owns majority shares in Middle East Communication Networks based in capital Manama. GFH said the deal comes as part of the company s strategy to exit its non-core assets. This asset has a book value of 20 million and the deal is expected to have a positive impact on its financial results for the second quarter of 2017 it added.- TradeArabia News Service ...
The Dubai property sector has witnessed solid growth in the first quarter with about 25 per cent increase in overall transactional activity in the real estate sector during the period said Sultan Butti Bin Mejren the director general of the Dubai Land Department (DLD). He was speaking at the first Ramadan Real Estate Majlis hosted by International Property Show (IPS) a major property sales platform in the Middle East where major developers from across the UAE came for an exclusive Suhoor Networking Night. The event took place in Armani Hotel Downtown Dubai and was organised in collaboration with DLD under the theme: Upgrading Real Estate Sector & Investment Promotion. Emphasising Dubai s position as a safe haven for investors Bin Mejren said: We continue our efforts to spur development by providing a sustainable real estate environment that will attract investor confidence in the market. ...
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The Dubai property sector has witnessed solid growth in the first quarter with about 25 per cent increase in overall transactional activity in the real estate sector during the period said Sultan Butti Bin Mejren the director general of the Dubai Land Department (DLD). He was speaking at the first Ramadan Real Estate Majlis hosted by International Property Show (IPS) a major property sales platform in the Middle East where major developers from across the UAE came for an exclusive Suhoor Networking Night. The event took place in Armani Hotel Downtown Dubai and was organised in collaboration with DLD under the theme: Upgrading Real Estate Sector & Investment Promotion. Emphasising Dubai s position as a safe haven for investors Bin Mejren said: We continue our efforts to spur development by providing a sustainable real estate environment that will attract investor confidence in the market. ...
About 45 per cent of investment professionals in the region see GCC s real estate market as mature enough for real estate investment trusts (REITs) to flourish. However nearly 43 per cent believe that it has not reached such a mature stage. according to a recent survey conducted by CFA Society Emirates. It is an association of local investment professionals comprising portfolio managers investment advisors educators and other financial professionals. In terms of the commercial real estate outlook for the UAE 70 per cent feel that the market will either stay flat or deteriorate stated the CFA Society Emirates survey. Investor sentiment and lack of understanding along with a weak regulatory environment are the biggest challenges for the growth of real estate investment trusts (REITs) in the Middle East it added. ...
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About 45 per cent of investment professionals in the region see GCC s real estate market as mature enough for real estate investment trusts (REITs) to flourish. However nearly 43 per cent believe that it has not reached such a mature stage. according to a recent survey conducted by CFA Society Emirates. It is an association of local investment professionals comprising portfolio managers investment advisors educators and other financial professionals. In terms of the commercial real estate outlook for the UAE 70 per cent feel that the market will either stay flat or deteriorate stated the CFA Society Emirates survey. Investor sentiment and lack of understanding along with a weak regulatory environment are the biggest challenges for the growth of real estate investment trusts (REITs) in the Middle East it added. ...
Etihad Airways Engineering a leading aviation maintenance repair and overhaul (MRO) provider in the Middle East has signed a Letter of Intent with contract logistics solutions leader DHL Supply Chain to outsource its entire internal logistics functions. DHL Supply Chain will manage stores local transport movements and associated supply chain planning at the Etihad Airways Engineering hub at Abu Dhabi International Airport. Jeff Wilkinson chief executive officer of Etihad Airways Engineering said: We see this agreement as a win-win opportunity not just for Etihad Airways Engineering and DHL Supply Chain but also for our customers around the world who will be served more efficiently and cost effectively as an outcome of the partnership. David Christmas CEO DHL Supply Chain Middle East Russia & Turkey said: This is a significant business win for DHL in the United Arab Emirates. We have a long-standing rel...
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Etihad Airways Engineering a leading aviation maintenance repair and overhaul (MRO) provider in the Middle East has signed a Letter of Intent with contract logistics solutions leader DHL Supply Chain to outsource its entire internal logistics functions. DHL Supply Chain will manage stores local transport movements and associated supply chain planning at the Etihad Airways Engineering hub at Abu Dhabi International Airport. Jeff Wilkinson chief executive officer of Etihad Airways Engineering said: We see this agreement as a win-win opportunity not just for Etihad Airways Engineering and DHL Supply Chain but also for our customers around the world who will be served more efficiently and cost effectively as an outcome of the partnership. David Christmas CEO DHL Supply Chain Middle East Russia & Turkey said: This is a significant business win for DHL in the United Arab Emirates. We have a long-standing rel...
Crystal Lagoons a multinational water innovation company is in discussion with several prominent real estate developers in Jordan in a bid to increase the number of the crystal-clear lagoons in the country s Aqaba and Dead Sea areas. The cutting-edge technology is already making a huge impact in the Middle East and Africa including the multi-million-dollar project located in the Al-Rama area of Jordan just 30 minutes from Amman at the Lagoon Hotel and Resort the 13 signed developments in Egypt two in the UAE and talks taking place for further projects in Saudi Arabia Qatar Oman and Dubai to bring the limitless sized lagoons with low construction and maintenance costs to the region. Crystal Lagoons is keen to capitalise on the burgeoning tourism market as individual overnight visitors in 2016 were around 3.86 million registering a 2.6 per cent increase compared to 2015 while group overnight visitors were around 314 000 registering a 20...
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Crystal Lagoons a multinational water innovation company is in discussion with several prominent real estate developers in Jordan in a bid to increase the number of the crystal-clear lagoons in the country s Aqaba and Dead Sea areas. The cutting-edge technology is already making a huge impact in the Middle East and Africa including the multi-million-dollar project located in the Al-Rama area of Jordan just 30 minutes from Amman at the Lagoon Hotel and Resort the 13 signed developments in Egypt two in the UAE and talks taking place for further projects in Saudi Arabia Qatar Oman and Dubai to bring the limitless sized lagoons with low construction and maintenance costs to the region. Crystal Lagoons is keen to capitalise on the burgeoning tourism market as individual overnight visitors in 2016 were around 3.86 million registering a 2.6 per cent increase compared to 2015 while group overnight visitors were around 314 000 registering a 20...
Aluminium Bahrain (Alba) the Bahrain-based international aluminium smelter said that construction has started on site on its landmark Line 6 Expansion Project following the completion of the FEED (front-end engineering design) study. The expansion project covers an area of approximately 60 hectares. As the required earthwork cut-and-fill volume is about 1.8 million cu m the surface mining technique was chosen as the preferred method to remove earthwork materials in order to meet the schedule and cost requirements of this project. The contracts for removal of bulk material for the sixth Potline have been awarded to local Bahraini contractors who are now working in conjunction with the surface miners. Alba s chairman Shaikh Daij bin Salman bin Daij Al Khalifa said: Line 6 Expansion Project has started to take shape with the site being mobilised for preparation work - one of the major activities - which will ensure the...
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Aluminium Bahrain (Alba) the Bahrain-based international aluminium smelter said that construction has started on site on its landmark Line 6 Expansion Project following the completion of the FEED (front-end engineering design) study. The expansion project covers an area of approximately 60 hectares. As the required earthwork cut-and-fill volume is about 1.8 million cu m the surface mining technique was chosen as the preferred method to remove earthwork materials in order to meet the schedule and cost requirements of this project. The contracts for removal of bulk material for the sixth Potline have been awarded to local Bahraini contractors who are now working in conjunction with the surface miners. Alba s chairman Shaikh Daij bin Salman bin Daij Al Khalifa said: Line 6 Expansion Project has started to take shape with the site being mobilised for preparation work - one of the major activities - which will ensure the...
Saudi Arabia s construction market is set to register solid growth over the next eight years growing two-fold to reach a record high of SR362 billion ( 96.4 billion) in 2025 from SR170 billion last year said a report citing a recent report by BMI Research. Advanced construction technology such as open-source 4D Building Information Models (BIM) can help the kingdom s architects engineers and contractors to enhance collaboration productivity and costs across the design concrete and steel rebar installation and facilities management reported The Saudi Gazette . These advanced construction technology tools will be vital for delivering Saudi Vision 2030 mega-projects on time and on budget experts announced ahead of The Big 5 Saudi Arabia. Saudi Vision 2030 calls for public-private partnerships to deliver infrastructure projects and economic ...
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Saudi Arabia s construction market is set to register solid growth over the next eight years growing two-fold to reach a record high of SR362 billion ( 96.4 billion) in 2025 from SR170 billion last year said a report citing a recent report by BMI Research. Advanced construction technology such as open-source 4D Building Information Models (BIM) can help the kingdom s architects engineers and contractors to enhance collaboration productivity and costs across the design concrete and steel rebar installation and facilities management reported The Saudi Gazette . These advanced construction technology tools will be vital for delivering Saudi Vision 2030 mega-projects on time and on budget experts announced ahead of The Big 5 Saudi Arabia. Saudi Vision 2030 calls for public-private partnerships to deliver infrastructure projects and economic ...
The Middle East and Africa hospitality market is on track for growth with a total of 124 823 rooms under construction in the region said a report. Of the total about 93 984 are under construction in the Middle East - up 15.5 per cent in year-over-year comparisons while the rest are in the African region said a report according to the May pipeline report from STR. Saudi Arabia topped the MEA list for the largest number of rooms under construction with the total put at 40 145 rooms in 95 hotels. Three other markets reported more than 5 000 rooms under construction in the region: UAE (32 604 rooms in 116 projects) Qatar (9 147 rooms in 37 projects) and Egypt (4 775 rooms in 14 projects). Africa also reported continued development with 30 839 rooms in 171 hotels under construction a 0.3 per cent increase in year-over-year comparisons. Angola reported the largest number of rooms in the African region wit...
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The Middle East and Africa hospitality market is on track for growth with a total of 124 823 rooms under construction in the region said a report. Of the total about 93 984 are under construction in the Middle East - up 15.5 per cent in year-over-year comparisons while the rest are in the African region said a report according to the May pipeline report from STR. Saudi Arabia topped the MEA list for the largest number of rooms under construction with the total put at 40 145 rooms in 95 hotels. Three other markets reported more than 5 000 rooms under construction in the region: UAE (32 604 rooms in 116 projects) Qatar (9 147 rooms in 37 projects) and Egypt (4 775 rooms in 14 projects). Africa also reported continued development with 30 839 rooms in 171 hotels under construction a 0.3 per cent increase in year-over-year comparisons. Angola reported the largest number of rooms in the African region wit...
Morocco s Super Cérame a leader in the production of ceramic stone floor and wall tiles has launched the construction of a new ceramic plant with an investment of MAD300 million ( 30.6 million) a report said. The subsidiary of YNNA Holding aims at increasing its production capacity which currently stands at 120 000 sq m per day reported Morocco World News citing news agency Challenge . The construction of the new plant is expected to be completed by 2018 it added. Plans for the construction of this new factory are already underway Fouad Benzakour CEO of Super Cerame was quoted as saying in the report. The production unit would add to the four other ceramic plants that the subsidiary already possesses he noted. We hope to be able to export one million square meters or more depending on the market demands in the next two years added Ben...
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Morocco s Super Cérame a leader in the production of ceramic stone floor and wall tiles has launched the construction of a new ceramic plant with an investment of MAD300 million ( 30.6 million) a report said. The subsidiary of YNNA Holding aims at increasing its production capacity which currently stands at 120 000 sq m per day reported Morocco World News citing news agency Challenge . The construction of the new plant is expected to be completed by 2018 it added. Plans for the construction of this new factory are already underway Fouad Benzakour CEO of Super Cerame was quoted as saying in the report. The production unit would add to the four other ceramic plants that the subsidiary already possesses he noted. We hope to be able to export one million square meters or more depending on the market demands in the next two years added Ben...
Sharjah Supreme Council Member and Ruler Dr Sheikh Sultan bin Mohammed Al Qasimi has issued a decree approving the general organisational structure of the Real Estate Registration Directorate in the emirate reported state news agency Wam. This involves issues related to the adopting descriptions of the functions of each of the organisational units in the directorate and the creation merger or cancellation of any organisational units in line with the general organisational structure stipulated in the decree. It is effective from the date of issuance and will be published in the official gazette. It also annuls any other legislation that contradicts its provisions said the report. ...
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Sharjah Supreme Council Member and Ruler Dr Sheikh Sultan bin Mohammed Al Qasimi has issued a decree approving the general organisational structure of the Real Estate Registration Directorate in the emirate reported state news agency Wam. This involves issues related to the adopting descriptions of the functions of each of the organisational units in the directorate and the creation merger or cancellation of any organisational units in line with the general organisational structure stipulated in the decree. It is effective from the date of issuance and will be published in the official gazette. It also annuls any other legislation that contradicts its provisions said the report. ...
The construction sector in Dubai UAE is witnessing a major boom with more than 26 000 buildings - including private villas general buildings public and industrial establishments besides various kinds of multi-storied buildings - under construction in the city said a report. The buildings department of Dubai Municipality (DM) said there are currently 26 653 buildings under construction including 16 870 developer s villas 1 238 multi-storied buildings 770 general buildings 737 industrial buildings and 6 111 private villas reported Gulf News citing a senior official. Layali Al Mulla the director of DM s buildings department said that in the first quarter the number of buildings under the municipality s supervision surged to 110 000 out of which 26 653 buildings are under construction. Al Mulla pointed out that 3 360 buildings have been completed from the beginning of this year until the end of Ma...
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The construction sector in Dubai UAE is witnessing a major boom with more than 26 000 buildings - including private villas general buildings public and industrial establishments besides various kinds of multi-storied buildings - under construction in the city said a report. The buildings department of Dubai Municipality (DM) said there are currently 26 653 buildings under construction including 16 870 developer s villas 1 238 multi-storied buildings 770 general buildings 737 industrial buildings and 6 111 private villas reported Gulf News citing a senior official. Layali Al Mulla the director of DM s buildings department said that in the first quarter the number of buildings under the municipality s supervision surged to 110 000 out of which 26 653 buildings are under construction. Al Mulla pointed out that 3 360 buildings have been completed from the beginning of this year until the end of Ma...
UAE-based Vincitore Real Estate Development has announced the launch of its second project in Dubai following the success of its flagship property Vincitore Palacio which was launched within the Al Barsha south master-planned Arjan district in the emirate last year. The new project Vincitore Boulevard will span over 173 337 sq ft in the same district. The building boasts 216 residential apartments including plush studios and ensuite one-bedroom units besides 30 boutique retail outlets. It was designed by celebrity architects inspired by a fusion of European and Emirati designs to create an iconic property offering versatility comfort and luxury living. Vincitore Real Estate Development said the project was expected to become operational by April 2019. Delivering quality style and functionality tailored to clients with a tast...
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UAE-based Vincitore Real Estate Development has announced the launch of its second project in Dubai following the success of its flagship property Vincitore Palacio which was launched within the Al Barsha south master-planned Arjan district in the emirate last year. The new project Vincitore Boulevard will span over 173 337 sq ft in the same district. The building boasts 216 residential apartments including plush studios and ensuite one-bedroom units besides 30 boutique retail outlets. It was designed by celebrity architects inspired by a fusion of European and Emirati designs to create an iconic property offering versatility comfort and luxury living. Vincitore Real Estate Development said the project was expected to become operational by April 2019. Delivering quality style and functionality tailored to clients with a tast...
China Construction Bank (CCB) on Wednesday rang the market-opening bell to celebrate the listing of a 1.2-billion bond on Nasdaq Dubai the region s international financial exchange. This marks the largest single listing by a Chinese bank on the exchange. The listing by the Hong Kong Branch of CCB one of China s leading banks underlines the country s growing financial activities in the UAE and the wider region. CCB s market capitalisation reached 192.6 billion at the end of 2016 the fifth highest of any bank in the world and it has branches and subsidiaries in 29 countries. Guo You the chairman of the board of supervisors of CCB rang the bell in the presence of Essa Kazim the governor of Dubai International Financial Centre (DIFC) and chairman of Dubai Financial Market (DFM); Abdul Wahed Al Fahim the chairman of Nasdaq Dubai; Hamed Ali the chief executive of Nasdaq Dubai; and senior China-based as well ...
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China Construction Bank (CCB) on Wednesday rang the market-opening bell to celebrate the listing of a 1.2-billion bond on Nasdaq Dubai the region s international financial exchange. This marks the largest single listing by a Chinese bank on the exchange. The listing by the Hong Kong Branch of CCB one of China s leading banks underlines the country s growing financial activities in the UAE and the wider region. CCB s market capitalisation reached 192.6 billion at the end of 2016 the fifth highest of any bank in the world and it has branches and subsidiaries in 29 countries. Guo You the chairman of the board of supervisors of CCB rang the bell in the presence of Essa Kazim the governor of Dubai International Financial Centre (DIFC) and chairman of Dubai Financial Market (DFM); Abdul Wahed Al Fahim the chairman of Nasdaq Dubai; Hamed Ali the chief executive of Nasdaq Dubai; and senior China-based as well ...
Emaar Properties the global real estate company has announced plans to offer up to 30 per cent of its UAE real estate development business in an initial public offering (IPO) which will be the largest since the Emaar Malls IPO in 2014. The decision to list Emaar s UAE Real Estate Development business was a result of an internal review of Emaar s asset values said the company in a statement to Dubai bourse. Subject to market conditions the funds raised through the sale of equity will be primarily distributed as dividends to Emaar s shareholders said the top regional developer. This will help create significant value for its shareholders it added. Emaar said this indicated the importance of highlighting the value of this business as a major contributor to the overall profitability of the developer through an independent listing.  ...
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Emaar Properties the global real estate company has announced plans to offer up to 30 per cent of its UAE real estate development business in an initial public offering (IPO) which will be the largest since the Emaar Malls IPO in 2014. The decision to list Emaar s UAE Real Estate Development business was a result of an internal review of Emaar s asset values said the company in a statement to Dubai bourse. Subject to market conditions the funds raised through the sale of equity will be primarily distributed as dividends to Emaar s shareholders said the top regional developer. This will help create significant value for its shareholders it added. Emaar said this indicated the importance of highlighting the value of this business as a major contributor to the overall profitability of the developer through an independent listing.  ...
JLL a leading real estate investment and advisory firm have signed an MoU with Effat University a private non-profit institution of higher education for women in Saudi Arabia that encourages students into the real estate sector. It is a collaboration that aims to increase the participation of students in real estate through internships at JLL s offices in the kingdom remarked Jamil Ghaznawi the national director and country head of JLL Saudi Arabia after signing the deal with Dr Haifa Jamal AlLail the president of Effat University. As part of the agreement JLL will also deliver presentations at the university to educate and provide knowledge on the sector in Saudi Arabia. Real estate offers a diverse and dynamic career path and this new partnership provides unique opportunities for us to engage and hopefully attract new talent into our fast-moving industry said Ghaznawi. We are excited...
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JLL a leading real estate investment and advisory firm have signed an MoU with Effat University a private non-profit institution of higher education for women in Saudi Arabia that encourages students into the real estate sector. It is a collaboration that aims to increase the participation of students in real estate through internships at JLL s offices in the kingdom remarked Jamil Ghaznawi the national director and country head of JLL Saudi Arabia after signing the deal with Dr Haifa Jamal AlLail the president of Effat University. As part of the agreement JLL will also deliver presentations at the university to educate and provide knowledge on the sector in Saudi Arabia. Real estate offers a diverse and dynamic career path and this new partnership provides unique opportunities for us to engage and hopefully attract new talent into our fast-moving industry said Ghaznawi. We are excited...
Bloom Properties a developer of integrated and sustainable communities said it has started the main construction works at its mixed-use Soho Square urban development on Saadiyat in Abu Dhabi UAE. Emirates Link Maltauro a leading construction group in the UAE has been signed up to carry out the main works of the development which is taking shape in the University neighbourhood of Saadiyat in Abu Dhabi. Soho Square is the second mixed-use development by Bloom Properties on Saadiyat encompassing top residential retail and commercial spaces located in proximity to the New York University Abu Dhabi campus and major upcoming tourist attractions said a statement from Bloom Properties. The project has been a big draw for investors looking for solid returns on their investments and long-term capital appreciation it stated. Offering a modern and vibrant living experience Soho Square will feature 302 high-end ...
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Bloom Properties a developer of integrated and sustainable communities said it has started the main construction works at its mixed-use Soho Square urban development on Saadiyat in Abu Dhabi UAE. Emirates Link Maltauro a leading construction group in the UAE has been signed up to carry out the main works of the development which is taking shape in the University neighbourhood of Saadiyat in Abu Dhabi. Soho Square is the second mixed-use development by Bloom Properties on Saadiyat encompassing top residential retail and commercial spaces located in proximity to the New York University Abu Dhabi campus and major upcoming tourist attractions said a statement from Bloom Properties. The project has been a big draw for investors looking for solid returns on their investments and long-term capital appreciation it stated. Offering a modern and vibrant living experience Soho Square will feature 302 high-end ...
Leading players in the construction and design of stadiums were honoured at the 4th edition of the World Stadium Congress Awards held recently in Doha Qatar as part of the World Stadium Congress. This year s judging panel included industry experts Philipp Herpel the managing director at HFP Mark Fenwick partner at Fenwick Iribarren Architects and Chris Dite Associate Director Sport Venue Design and Major Events at leading UK-based engineering group Arup. Over 20 companies made it to the nomination stage across six different categories but the eventual winners were picked up by an independent judging panel. These include: Award for the Best New Stadium or Arena - Tekfen Construction and Heerim Architects and Planners for the Baku Olympic Stadium Future Sporting Venue Award - VTB Arena Award for Innovative Solution of the Year - Futbol Club Barcelona Award for Stadium Consultant of the Year -...
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Leading players in the construction and design of stadiums were honoured at the 4th edition of the World Stadium Congress Awards held recently in Doha Qatar as part of the World Stadium Congress. This year s judging panel included industry experts Philipp Herpel the managing director at HFP Mark Fenwick partner at Fenwick Iribarren Architects and Chris Dite Associate Director Sport Venue Design and Major Events at leading UK-based engineering group Arup. Over 20 companies made it to the nomination stage across six different categories but the eventual winners were picked up by an independent judging panel. These include: Award for the Best New Stadium or Arena - Tekfen Construction and Heerim Architects and Planners for the Baku Olympic Stadium Future Sporting Venue Award - VTB Arena Award for Innovative Solution of the Year - Futbol Club Barcelona Award for Stadium Consultant of the Year -...
GAC Dubai s commitment to quality and food safety has earned it ISO 22000:2005 accreditation. The certification comes after a stringent DNV audit which confirmed the company s compliance with the internationally recognised standard the company said. It builds on the ISO 9001:2015 quality management system implemented across GAC Dubai since 1996 and incorporates the principles of HACCP (Hazard Analysis and Critical Control Point) - covering the storage and distribution of perishable food. Distribution Centre manager Richard Potts said: GAC Dubai s ability to underwrite its quality systems in support of customers supply chains is testament to its commitment to providing consistently high quality and safe services to its customers. Food reaches consumers through supply chains that may link many different companies stretching across multiple borders he adds. One weak link can r...
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GAC Dubai s commitment to quality and food safety has earned it ISO 22000:2005 accreditation. The certification comes after a stringent DNV audit which confirmed the company s compliance with the internationally recognised standard the company said. It builds on the ISO 9001:2015 quality management system implemented across GAC Dubai since 1996 and incorporates the principles of HACCP (Hazard Analysis and Critical Control Point) - covering the storage and distribution of perishable food. Distribution Centre manager Richard Potts said: GAC Dubai s ability to underwrite its quality systems in support of customers supply chains is testament to its commitment to providing consistently high quality and safe services to its customers. Food reaches consumers through supply chains that may link many different companies stretching across multiple borders he adds. One weak link can r...
King Abdullah Economic City (KAEC) the largest privately-funded new city in the world said it has awarded two major construction contracts to develop 2.44 million sq m of land including part of the infrastructure for Phase Three at The Industrial Valley. Of the 2.44 million sq m 1.44 million will be developed by Saudi Binladin Group at a cost of SR83.5 million ( 22.2 million) while the second contract will see the development of the remainder of the project by the Salem Saleh Al Harithi Company at a contractual cost of SR49.4 million ( 13.2 million). Both projects are scheduled for completion by the end of 2017 said a statement from KAEC. Located on the west coast of Saudi Arabia KAEC covers an area of 181 sq km approximately the size of Washington DC. Besides the Industrial Valley it comprises King Abdullah Port the Coastal Communities residential districts and the Haramain Railway district. It is being deve...
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King Abdullah Economic City (KAEC) the largest privately-funded new city in the world said it has awarded two major construction contracts to develop 2.44 million sq m of land including part of the infrastructure for Phase Three at The Industrial Valley. Of the 2.44 million sq m 1.44 million will be developed by Saudi Binladin Group at a cost of SR83.5 million ( 22.2 million) while the second contract will see the development of the remainder of the project by the Salem Saleh Al Harithi Company at a contractual cost of SR49.4 million ( 13.2 million). Both projects are scheduled for completion by the end of 2017 said a statement from KAEC. Located on the west coast of Saudi Arabia KAEC covers an area of 181 sq km approximately the size of Washington DC. Besides the Industrial Valley it comprises King Abdullah Port the Coastal Communities residential districts and the Haramain Railway district. It is being deve...
Three workers have been killed and several others injured in an incident at the construction site of a Qatar Armed Forces project reported the state news agency QNA. Citing the Ministry of Defence QNA said late on Tuesday that the deaths occurred during an incident at a construction site belonging to the defence forces. It expressed sincere condolences to the families of the deceased and wished the injured a speedy recovery stated the report. However the ministry did not give any further details on either the nationalities of the dead workers or the cause of the deaths or the number of injured lying in the hospital the QNA report said. In its statement the Ministry of Defence stressed its commitment to abide by the highest safety standards in all its facilities it added. ...
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Three workers have been killed and several others injured in an incident at the construction site of a Qatar Armed Forces project reported the state news agency QNA. Citing the Ministry of Defence QNA said late on Tuesday that the deaths occurred during an incident at a construction site belonging to the defence forces. It expressed sincere condolences to the families of the deceased and wished the injured a speedy recovery stated the report. However the ministry did not give any further details on either the nationalities of the dead workers or the cause of the deaths or the number of injured lying in the hospital the QNA report said. In its statement the Ministry of Defence stressed its commitment to abide by the highest safety standards in all its facilities it added. ...
The Dubai Real Estate Court has settled a property lawsuit totally valued at Dh15 billion ( 4.08 billion) by helping all parties reach a compromise based on the interest of the country s economy and real estate market according to a report. The real estate project in question is an integrated city with vast areas settled with the consent of all parties after the case had been filed repetitively before the law offices courtrooms and experts for more than three years said the state news agency Wam citing the judge. The court initiated meetings gathering companies and parties involved in the lawsuit away from court proceedings which finally managed to successfully settle the dispute stated Judge Ahmed Ali Al Dhanhani the head of the Court. Al Dhanhani pointed out that differences and divergence of views had led to many real estate cases worth millions of dirhams still peding in the courts. ...
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The Dubai Real Estate Court has settled a property lawsuit totally valued at Dh15 billion ( 4.08 billion) by helping all parties reach a compromise based on the interest of the country s economy and real estate market according to a report. The real estate project in question is an integrated city with vast areas settled with the consent of all parties after the case had been filed repetitively before the law offices courtrooms and experts for more than three years said the state news agency Wam citing the judge. The court initiated meetings gathering companies and parties involved in the lawsuit away from court proceedings which finally managed to successfully settle the dispute stated Judge Ahmed Ali Al Dhanhani the head of the Court. Al Dhanhani pointed out that differences and divergence of views had led to many real estate cases worth millions of dirhams still peding in the courts. ...
Over the last few years notably in the hotel retail and residential sectors Africa s rapidly growing property markets have been attracting increased interest from international investors developers and occupiers. In spite of developments occurring at a breakneck speed the key areas seen continually strapped to the back-bench are financial planning project execution and most importantly the implementation of sustainable measures. The 10th Edition Hotelier Summit which recently concluded was designed to address this challenge. The summit brought together investors from all over the world to engage with leading industry members in the Sub-Sahara African real estate fraternity. Delegates such as Sijibomi Ogundele CEO of Sujimoto Constructions and Lee Karuri CEO of Resorts & Cities Kenya addressed the gathering of global suppliers and investors outlining their long list of requirements both from an investment perspecti...
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Over the last few years notably in the hotel retail and residential sectors Africa s rapidly growing property markets have been attracting increased interest from international investors developers and occupiers. In spite of developments occurring at a breakneck speed the key areas seen continually strapped to the back-bench are financial planning project execution and most importantly the implementation of sustainable measures. The 10th Edition Hotelier Summit which recently concluded was designed to address this challenge. The summit brought together investors from all over the world to engage with leading industry members in the Sub-Sahara African real estate fraternity. Delegates such as Sijibomi Ogundele CEO of Sujimoto Constructions and Lee Karuri CEO of Resorts & Cities Kenya addressed the gathering of global suppliers and investors outlining their long list of requirements both from an investment perspecti...
The ongoing liquidity issues within the Middle East construction market has seen a spurt in the number of claims submitted however the industry is resolving them more swiftly according to the latest research from Arcadis. A leading global design and consultancy firm for natural and built assets Arcadis said compared to last year the average time needed to resolve a dispute in the Middle East fell to just 13.7 months. This is 10 per cent quicker than the duration taken during the two previous years and is less than the global average stated the company in its The 2017 Middle East Construction Disputes Report. Similarly the average value of a construction dispute also decreased dropping from 82 million in 2015 to 56 million last year it added. The 2017 Middle East Construction Disputes Report is an annual study from Arcadis that examines the most common causes of dispute on constr...
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The ongoing liquidity issues within the Middle East construction market has seen a spurt in the number of claims submitted however the industry is resolving them more swiftly according to the latest research from Arcadis. A leading global design and consultancy firm for natural and built assets Arcadis said compared to last year the average time needed to resolve a dispute in the Middle East fell to just 13.7 months. This is 10 per cent quicker than the duration taken during the two previous years and is less than the global average stated the company in its The 2017 Middle East Construction Disputes Report. Similarly the average value of a construction dispute also decreased dropping from 82 million in 2015 to 56 million last year it added. The 2017 Middle East Construction Disputes Report is an annual study from Arcadis that examines the most common causes of dispute on constr...
Swicorp a leading private equity and investment banking firm with a specific regional focus on the Middle East and North Africa (Mena) region said it has successfully raised SR152 million ( 40.4 million) including SR76 million in equity and SR76 million in a loan facility from a local bank for Ewan Al-Maali Real Estate Development Fund. The fund was established by Swicorp in partnership with Retal Urban Development Company a fast-growing urban developer in Saudi Arabia. Retal has announced plans to develop and sell 76 luxury villas in Al Khobar Eastern Province Saudi Arabia. The project which spans over a total area of 35 024 sq m is strategically located near the new Khobar Corniche and major universities shopping hubs and business centers. The villas are of three different sizes and are characterized by innovative architectural designs high quality materials and latest technology. Construction is already well ...
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Swicorp a leading private equity and investment banking firm with a specific regional focus on the Middle East and North Africa (Mena) region said it has successfully raised SR152 million ( 40.4 million) including SR76 million in equity and SR76 million in a loan facility from a local bank for Ewan Al-Maali Real Estate Development Fund. The fund was established by Swicorp in partnership with Retal Urban Development Company a fast-growing urban developer in Saudi Arabia. Retal has announced plans to develop and sell 76 luxury villas in Al Khobar Eastern Province Saudi Arabia. The project which spans over a total area of 35 024 sq m is strategically located near the new Khobar Corniche and major universities shopping hubs and business centers. The villas are of three different sizes and are characterized by innovative architectural designs high quality materials and latest technology. Construction is already well ...
Expo 2020 Dubai has chosen leading global logistics firm UPS to handle the logistics operations for the event which is expected to attract millions of visitors over its six-month duration. With more than 180 countries expected to participate and hundreds of thousands of visitors on peak days the next World Expo will be one the most complex logistics projects UPS has tackled. As official logistics partner UPS will provide more than 27 000 sq m of warehouse space equivalent to nearly four football pitches and a team of 1 000 logistics personnel during the Expo lasting from October 20 2020 to April 10 2021. The UPS team will draw on expertise and experience gained as logistics sponsor in the 2012 Olympic Games in London and the 2008 Olympic Games in Beijing. The partnership agreement was signed by Sheikh Ahmed bin Saeed Al Maktoum chairman of the Expo 2020 Dubai Higher Committee and Jean-Francois Condamine UPS&rsq...
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Expo 2020 Dubai has chosen leading global logistics firm UPS to handle the logistics operations for the event which is expected to attract millions of visitors over its six-month duration. With more than 180 countries expected to participate and hundreds of thousands of visitors on peak days the next World Expo will be one the most complex logistics projects UPS has tackled. As official logistics partner UPS will provide more than 27 000 sq m of warehouse space equivalent to nearly four football pitches and a team of 1 000 logistics personnel during the Expo lasting from October 20 2020 to April 10 2021. The UPS team will draw on expertise and experience gained as logistics sponsor in the 2012 Olympic Games in London and the 2008 Olympic Games in Beijing. The partnership agreement was signed by Sheikh Ahmed bin Saeed Al Maktoum chairman of the Expo 2020 Dubai Higher Committee and Jean-Francois Condamine UPS&rsq...
Leading global construction firms from 33 countries are showcasing their innovative products and services at the 14th edition of the Project Qatar 2017 which opened in capital Doha today (May 8). A major trade exhibition for construction technology building materials equipment and environmental technology Project Qatar 2017 is being held under the patronage of Sheikh Abdullah bin Nasser bin Khalifa Al-Thani the Prime Minister and Minister of Interior of Qatar. The Minister of Commerce and Economy Sheikh Ahmed bin Jassim bin Mohamed Al Thani inaugurated the event in the presence of Dr Mohammed bin Saleh Al Sada Minister of Energy and Industry and other top-ranking officials and foreign dignitaries . The country s largest construction event Project Qatar will see more than 16 000 visitors enter the halls of the Doha Exhibition and Convention Center until May 11 said the organisers. A total of ...
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Leading global construction firms from 33 countries are showcasing their innovative products and services at the 14th edition of the Project Qatar 2017 which opened in capital Doha today (May 8). A major trade exhibition for construction technology building materials equipment and environmental technology Project Qatar 2017 is being held under the patronage of Sheikh Abdullah bin Nasser bin Khalifa Al-Thani the Prime Minister and Minister of Interior of Qatar. The Minister of Commerce and Economy Sheikh Ahmed bin Jassim bin Mohamed Al Thani inaugurated the event in the presence of Dr Mohammed bin Saleh Al Sada Minister of Energy and Industry and other top-ranking officials and foreign dignitaries . The country s largest construction event Project Qatar will see more than 16 000 visitors enter the halls of the Doha Exhibition and Convention Center until May 11 said the organisers. A total of ...
Emirates Nuclear Energy Corporation (Enec) has announced that it has together with Korea Electric Power Corporation (Kepco) completed initial construction activities for Unit I of the Barakah Nuclear Energy Plant and the turnover of all plant systems to Korea Hydro and Nuclear Power (KHNP) for testing and commissioning in preparation for safety-led nuclear operations. The completion of initial construction work of Unit I was preceded by the successful completion of the Hot Functional Test (HFT) at the end of 2016 said a statement from Enec. The HFT is one of the major testing requirements under the Construction License for Units 1 & 2 which was granted by the Federal Authority for Nuclear Regulation (FANR) in 2012. Enec signed the prime contract with Kepco in 2009 for the construction of the Barakah Plant. The handover of Unit I s 277 systems from Kepco to its unit K...
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Emirates Nuclear Energy Corporation (Enec) has announced that it has together with Korea Electric Power Corporation (Kepco) completed initial construction activities for Unit I of the Barakah Nuclear Energy Plant and the turnover of all plant systems to Korea Hydro and Nuclear Power (KHNP) for testing and commissioning in preparation for safety-led nuclear operations. The completion of initial construction work of Unit I was preceded by the successful completion of the Hot Functional Test (HFT) at the end of 2016 said a statement from Enec. The HFT is one of the major testing requirements under the Construction License for Units 1 & 2 which was granted by the Federal Authority for Nuclear Regulation (FANR) in 2012. Enec signed the prime contract with Kepco in 2009 for the construction of the Barakah Plant. The handover of Unit I s 277 systems from Kepco to its unit K...
DP World a leading global trade enabler and India s National Investment and Infrastructure Fund (NIIF) have signed a memorandum of understanding (MoU) to develop the logistics sector in India. Sultan Ahmed bin Sulayem DP World Group chairman and CEO signed the MoU with Sujoy Bose NIIF CEO at the inaugural session of the India Integrated Transport and Logistics Summit 2017 at at Vigyan Bhawan New Delhi. The ceremony was attended by senior Indian ministers officials and company executives. The agreement comes as a result of the visit to India in February 2016 of His Highness Sheikh Mohammed bin Zayed Al Nahyan Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces of the UAE and Sultan Ahmed bin Sulayem. DP World announced at the time that it was seeking opportunities in the country worth over 1 billion over the next few years. This will be aimed at development of port infrastructure of the Sagarmala project creati...
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DP World a leading global trade enabler and India s National Investment and Infrastructure Fund (NIIF) have signed a memorandum of understanding (MoU) to develop the logistics sector in India. Sultan Ahmed bin Sulayem DP World Group chairman and CEO signed the MoU with Sujoy Bose NIIF CEO at the inaugural session of the India Integrated Transport and Logistics Summit 2017 at at Vigyan Bhawan New Delhi. The ceremony was attended by senior Indian ministers officials and company executives. The agreement comes as a result of the visit to India in February 2016 of His Highness Sheikh Mohammed bin Zayed Al Nahyan Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces of the UAE and Sultan Ahmed bin Sulayem. DP World announced at the time that it was seeking opportunities in the country worth over 1 billion over the next few years. This will be aimed at development of port infrastructure of the Sagarmala project creati...
The growth of a stable real estate market and creation of a sustainable small and medium-sized enterprise (SME) sector are fundamental to the success of Saudi Arabia s Vision 2030 said government leaders and financial executives. They were attending the second and final day of the 12th Euromoney Saudi Arabia Conference in Riyadh yesterday (May 3) held in partnership with the Saudi Ministry of Finance. Majed bin Abdullah Al-Hogail Minister of Housing delivered Day 2 s opening keynote address and outlined the country s ambitious plans to facilitate the sufficient supply and demand necessary to ensure a sustainably robust real estate market. At the beginning of 2017 Saudi Arabia launched a housing programme designed to hand over up to 120 000 units to citizens over the year to complement the goals of Vision 2030. The Sakani programme is part of efforts to support the housing needs of around 280 000 families by the M...
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The growth of a stable real estate market and creation of a sustainable small and medium-sized enterprise (SME) sector are fundamental to the success of Saudi Arabia s Vision 2030 said government leaders and financial executives. They were attending the second and final day of the 12th Euromoney Saudi Arabia Conference in Riyadh yesterday (May 3) held in partnership with the Saudi Ministry of Finance. Majed bin Abdullah Al-Hogail Minister of Housing delivered Day 2 s opening keynote address and outlined the country s ambitious plans to facilitate the sufficient supply and demand necessary to ensure a sustainably robust real estate market. At the beginning of 2017 Saudi Arabia launched a housing programme designed to hand over up to 120 000 units to citizens over the year to complement the goals of Vision 2030. The Sakani programme is part of efforts to support the housing needs of around 280 000 families by the M...
The growth of a stable real estate market and creation of a sustainable small and medium-sized enterprise (SME) sector are fundamental to the success of Saudi Arabia s Vision 2030 said government leaders and financial executives. They were attending the second and final day of the 12th Euromoney Saudi Arabia Conference in Riyadh yesterday (May 3) held in partnership with the Saudi Ministry of Finance. Majed bin Abdullah Al-Hogail Minister of Housing delivered Day 2 s opening keynote address and outlined the country s ambitious plans to facilitate the sufficient supply and demand necessary to ensure a sustainably robust real estate market. At the beginning of 2017 Saudi Arabia launched a housing programme designed to hand over up to 120 000 units to citizens over the year to complement the goals of Vision 2030. The Sakani programme is part of efforts to support the housing needs of around 280 000 families by the M...
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The growth of a stable real estate market and creation of a sustainable small and medium-sized enterprise (SME) sector are fundamental to the success of Saudi Arabia s Vision 2030 said government leaders and financial executives. They were attending the second and final day of the 12th Euromoney Saudi Arabia Conference in Riyadh yesterday (May 3) held in partnership with the Saudi Ministry of Finance. Majed bin Abdullah Al-Hogail Minister of Housing delivered Day 2 s opening keynote address and outlined the country s ambitious plans to facilitate the sufficient supply and demand necessary to ensure a sustainably robust real estate market. At the beginning of 2017 Saudi Arabia launched a housing programme designed to hand over up to 120 000 units to citizens over the year to complement the goals of Vision 2030. The Sakani programme is part of efforts to support the housing needs of around 280 000 families by the M...
The growth of a stable real estate market and creation of a sustainable small and medium-sized enterprise (SME) sector are fundamental to the success of Saudi Arabia s Vision 2030 said experts at a major financial summit in Riyadh. The 12th Euromoney Saudi Arabia Conference held in partnership with the Ministry of Finance was attended by government leaders and financial executives. Speaking on the second day of the event Majed bin Abdullah Al Hogail Minister of Housing outlined the country s ambitious plans to facilitate the sufficient supply and demand necessary to ensure a sustainably robust real estate market. Early this year Saudi Arabia had launched a housing programme designed to hand over up to 120 000 units to citizens over the year to complement the goals of Vision 2030. The Sakani programme is part of efforts to support the housing needs of around 280 000 families by the Ministry of Housing ...
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The growth of a stable real estate market and creation of a sustainable small and medium-sized enterprise (SME) sector are fundamental to the success of Saudi Arabia s Vision 2030 said experts at a major financial summit in Riyadh. The 12th Euromoney Saudi Arabia Conference held in partnership with the Ministry of Finance was attended by government leaders and financial executives. Speaking on the second day of the event Majed bin Abdullah Al Hogail Minister of Housing outlined the country s ambitious plans to facilitate the sufficient supply and demand necessary to ensure a sustainably robust real estate market. Early this year Saudi Arabia had launched a housing programme designed to hand over up to 120 000 units to citizens over the year to complement the goals of Vision 2030. The Sakani programme is part of efforts to support the housing needs of around 280 000 families by the Ministry of Housing ...
With Mena s construction market topping 300 billion by 2019 felt solutions will cut costs and deliver comfortable spaces architects and interior designers said ahead of International Design Exhibition (INDEX) in Dubai UAE. The Mena construction market is likely to grow by 43 percent from 235 billion in 2016 to 336 billion by 2020 according to a recent BMI Research report. GCC mega-projects will host millions of people over their lifetime meaning they need interior spaces that prioritize design and quality to cut costs provide comfortable spaces and are environmentally sustainable. Felt is set to be deployed from the deepest train stations to the tallest skyscrapers and every interior in-between said Santhosh Vallil sales manager of top project consultancy Hunter Douglas Middle East. Hunter Douglas has seen strong Middle East interest on the recently-launched world s first new felt linear cei...
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With Mena s construction market topping 300 billion by 2019 felt solutions will cut costs and deliver comfortable spaces architects and interior designers said ahead of International Design Exhibition (INDEX) in Dubai UAE. The Mena construction market is likely to grow by 43 percent from 235 billion in 2016 to 336 billion by 2020 according to a recent BMI Research report. GCC mega-projects will host millions of people over their lifetime meaning they need interior spaces that prioritize design and quality to cut costs provide comfortable spaces and are environmentally sustainable. Felt is set to be deployed from the deepest train stations to the tallest skyscrapers and every interior in-between said Santhosh Vallil sales manager of top project consultancy Hunter Douglas Middle East. Hunter Douglas has seen strong Middle East interest on the recently-launched world s first new felt linear cei...
Gulftainer a leading privately-owned independent terminal operating and logistics company was honoured at the Logistics Middle East Awards 2017 held recently in Dubai UAE. The company won the main award in the Technology Implementation of the Year category said a statement from Gulftrainer. It was recognised for the successful implementation of its hitech Marine and Container Handling (Mach) Terminal Operating System (Tos) which marks a major technology milestone for Gulftainer and the industry at large it said. Since 2016 Gulftainer has been rolling out Mach Tos which it implemented in association with Tata Consultancy Services (TCS) in a phased manner across its terminals in the UAE. The customised software provides Gulftainer with computerised control and management of container storage and movement enhancing its ability to proactively identify and solve problems it added. Mach T...
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Gulftainer a leading privately-owned independent terminal operating and logistics company was honoured at the Logistics Middle East Awards 2017 held recently in Dubai UAE. The company won the main award in the Technology Implementation of the Year category said a statement from Gulftrainer. It was recognised for the successful implementation of its hitech Marine and Container Handling (Mach) Terminal Operating System (Tos) which marks a major technology milestone for Gulftainer and the industry at large it said. Since 2016 Gulftainer has been rolling out Mach Tos which it implemented in association with Tata Consultancy Services (TCS) in a phased manner across its terminals in the UAE. The customised software provides Gulftainer with computerised control and management of container storage and movement enhancing its ability to proactively identify and solve problems it added. Mach T...
The outlook for construction companies in the GCC is poised to improve in 2017 as the region still offers significant opportunities for construction companies said a report. The region s strongest markets over the past 12 months were Dubai Kuwait and Bahrain which saw its second-best year for awards since 2007 thanks to the financial support of its GCC partners through the Gulf Development Fund stated business intelligence service Meed in its report. In Outlook for GCC Construction 2017 Meed reports that the region looks promising despite the slowdown in project spending. The report however warned that a fall in the volume of new opportunities coupled with increased uncertainty about project timelines will see the construction marketing further hardening in response to increased competition. The approval of the main contract award on the expansion of Kuwait airport took that market to an all-time...
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The outlook for construction companies in the GCC is poised to improve in 2017 as the region still offers significant opportunities for construction companies said a report. The region s strongest markets over the past 12 months were Dubai Kuwait and Bahrain which saw its second-best year for awards since 2007 thanks to the financial support of its GCC partners through the Gulf Development Fund stated business intelligence service Meed in its report. In Outlook for GCC Construction 2017 Meed reports that the region looks promising despite the slowdown in project spending. The report however warned that a fall in the volume of new opportunities coupled with increased uncertainty about project timelines will see the construction marketing further hardening in response to increased competition. The approval of the main contract award on the expansion of Kuwait airport took that market to an all-time...
Airolink a leading UAE-based design and build construction conglomerate said it has won new project contracts worth Dh2.8 billion ( 760 million) across the region during the first quarter. With this the total value of the company s current order book has risen to Dh4.4 billion ( 1.2 billion) from Dh1.6 billion ( 435 million) stated Airolink in its statement. Among the ongoing projects the Al Mamzar Centre tops the list followed by the Emirates College of Technology the Bloom School the Art Centre and the Dubai Heights School are of significant value. Among others Airolink has been involved in the construction of five schools in Dubai and Abu Dhabi it stated. The new construction contracts reflect a growing confidence of clients on Airolink s project delivery capacity and demonstrate its growing strength in project management and construction remarked Dr Anil G. Pillai the chairman and managing director of Airolin...
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Airolink a leading UAE-based design and build construction conglomerate said it has won new project contracts worth Dh2.8 billion ( 760 million) across the region during the first quarter. With this the total value of the company s current order book has risen to Dh4.4 billion ( 1.2 billion) from Dh1.6 billion ( 435 million) stated Airolink in its statement. Among the ongoing projects the Al Mamzar Centre tops the list followed by the Emirates College of Technology the Bloom School the Art Centre and the Dubai Heights School are of significant value. Among others Airolink has been involved in the construction of five schools in Dubai and Abu Dhabi it stated. The new construction contracts reflect a growing confidence of clients on Airolink s project delivery capacity and demonstrate its growing strength in project management and construction remarked Dr Anil G. Pillai the chairman and managing director of Airolin...
Saudi-based Artar Real Estate Development said it has won the best real estate developer award at Restatex the Riyadh Real Estate and Urban Development Exhibition for 50 years of its construction excellence. CEO Sulaiman Abdulrahman Al Rashid received the award at a key ceremony held during the four-day real estate exhibition at the Riyadh International Convention and Exhibition Centre. Artar played a prominent role in the event bringing their Mada Residences project to virtual reality for the thousands of visitors to their stand so that they could truly experience the quality of build and greater liveability offering in a prime Downtown Dubai location it stated. Liveability which describes open-plan homes designed to maximise space and comfort for residents is the central theme for the 36-storey high rise tower at the heart of Downtown Dubai. Located within a minute s walk of The Dubai Mall the world ...
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Saudi-based Artar Real Estate Development said it has won the best real estate developer award at Restatex the Riyadh Real Estate and Urban Development Exhibition for 50 years of its construction excellence. CEO Sulaiman Abdulrahman Al Rashid received the award at a key ceremony held during the four-day real estate exhibition at the Riyadh International Convention and Exhibition Centre. Artar played a prominent role in the event bringing their Mada Residences project to virtual reality for the thousands of visitors to their stand so that they could truly experience the quality of build and greater liveability offering in a prime Downtown Dubai location it stated. Liveability which describes open-plan homes designed to maximise space and comfort for residents is the central theme for the 36-storey high rise tower at the heart of Downtown Dubai. Located within a minute s walk of The Dubai Mall the world ...
The real estate sector in the UAE emirate of Ajman has registered solid growth during the first quarter with its transactions surging to more than Dh733 million ( 199 million) said senior officials of the Department of Land and Real Estate Regulation in Ajman. The total investments during the period topped Dh680 million ( 185 million) thanks to the funds flow from overseas and also the Guf market they stated while speaking at the Riyadh Real Estate & Urban Development Exhibition 2017 (Restatex Riyadh 2017). The Restatex Riyadh 2017 the largest annual real estate event of its kind in Saudi Arabia was held recently at the Riyadh International Convention & Exhibition Center. The pavilion hosted by the Department of Land and Real Estate Regulation in Ajman received a huge turn out from participants and visitors during the event which was highly lauded for highlighting promising real estate investment opportunities while also p...
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The real estate sector in the UAE emirate of Ajman has registered solid growth during the first quarter with its transactions surging to more than Dh733 million ( 199 million) said senior officials of the Department of Land and Real Estate Regulation in Ajman. The total investments during the period topped Dh680 million ( 185 million) thanks to the funds flow from overseas and also the Guf market they stated while speaking at the Riyadh Real Estate & Urban Development Exhibition 2017 (Restatex Riyadh 2017). The Restatex Riyadh 2017 the largest annual real estate event of its kind in Saudi Arabia was held recently at the Riyadh International Convention & Exhibition Center. The pavilion hosted by the Department of Land and Real Estate Regulation in Ajman received a huge turn out from participants and visitors during the event which was highly lauded for highlighting promising real estate investment opportunities while also p...
Three of Northern Gulf s biggest expos showcasing the very best in construction interiors and real estate - Gulf Construction Expo Gulf Interiors and Gulf Property Show (together known as 3Gs) - opened their doors in Bahrain today (April 25) amid calls to pass the new real estate regulatory law. His Royal Highness Prime Minister Prince Khalifa bin Salman Al Khalifa delegated Deputy Premier Shaikh Khalid bin Abdulla Al Khalifa to inaugurate the events at the Bahrain International Exhibition and Convention Centre said the event organisers Hilal Conferences and Exhibitions (HCE). We rely on the wisdom of MPs to quickly endorse the draft legislation and pass it to the Shura Council stated Shaikh Khalid stressing the economic social and regulatory importance of the law and future potential. He paid tribute to HRH the Premier for patronising the annual 3Gs which he said reflects his keenness on supporting the rea...
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Three of Northern Gulf s biggest expos showcasing the very best in construction interiors and real estate - Gulf Construction Expo Gulf Interiors and Gulf Property Show (together known as 3Gs) - opened their doors in Bahrain today (April 25) amid calls to pass the new real estate regulatory law. His Royal Highness Prime Minister Prince Khalifa bin Salman Al Khalifa delegated Deputy Premier Shaikh Khalid bin Abdulla Al Khalifa to inaugurate the events at the Bahrain International Exhibition and Convention Centre said the event organisers Hilal Conferences and Exhibitions (HCE). We rely on the wisdom of MPs to quickly endorse the draft legislation and pass it to the Shura Council stated Shaikh Khalid stressing the economic social and regulatory importance of the law and future potential. He paid tribute to HRH the Premier for patronising the annual 3Gs which he said reflects his keenness on supporting the rea...
Bahrain-based Bin Faqeeh Real Estate Investment Company a major group focusing on real-estate-related investments has joined The Luxury Network (TLN) a private membership club in Qatar. TLN network has been established in luxury capitals or countries around the world within which premium companies work closely together at senior director level for mutual business and client development. The members of TLN receive a comprehensive program of new pre-planned professional business development activities and events to maximize their relationships with other luxury brands. Bin Faqeeh has experienced significant growth since it was established in February 2008. Last April 15 2017 Bin Faqeeh Company officially joined the next generation of marketing for luxury brands The Luxury Network as a prestigious member. The Bin Faqeeh Company is located at the Business Bay Tower in Manama Bahrain and at the T...
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Bahrain-based Bin Faqeeh Real Estate Investment Company a major group focusing on real-estate-related investments has joined The Luxury Network (TLN) a private membership club in Qatar. TLN network has been established in luxury capitals or countries around the world within which premium companies work closely together at senior director level for mutual business and client development. The members of TLN receive a comprehensive program of new pre-planned professional business development activities and events to maximize their relationships with other luxury brands. Bin Faqeeh has experienced significant growth since it was established in February 2008. Last April 15 2017 Bin Faqeeh Company officially joined the next generation of marketing for luxury brands The Luxury Network as a prestigious member. The Bin Faqeeh Company is located at the Business Bay Tower in Manama Bahrain and at the T...
Binghatti Developers an innovative Dubai-based property group has been awarded the Best Architecture Company award at region s premier real estate awards - Gulf Real Estate Awards. The award was presented to Muhammad BinGhatti the CEO and head of architecture by Sultan Butti bin Mejren the director general of Dubai Land Department at a recent ceremony held in Dubai UAE. Binghatti Developers were honoured in front of nearly 300 real estate leaders at the largest most prestigious real estate gathering in the region. Showcasing Binghatti s signature style in design and architecture the developer s portfolio includes nearly 30 projects in total. Ten new developments are still under construction throughout several areas of the UAE including a one-million-sq-ft commercial facility in Abu Dhabi. The company s operations in Dubai focus on residential developments in Dubai Silicon Oasis Dubai Mari...
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Binghatti Developers an innovative Dubai-based property group has been awarded the Best Architecture Company award at region s premier real estate awards - Gulf Real Estate Awards. The award was presented to Muhammad BinGhatti the CEO and head of architecture by Sultan Butti bin Mejren the director general of Dubai Land Department at a recent ceremony held in Dubai UAE. Binghatti Developers were honoured in front of nearly 300 real estate leaders at the largest most prestigious real estate gathering in the region. Showcasing Binghatti s signature style in design and architecture the developer s portfolio includes nearly 30 projects in total. Ten new developments are still under construction throughout several areas of the UAE including a one-million-sq-ft commercial facility in Abu Dhabi. The company s operations in Dubai focus on residential developments in Dubai Silicon Oasis Dubai Mari...
The Department of Land and Real Estate Regulatory will be highlighting the potential investment and growth opportunities in Ajman UAE mainly in the real estate segment at a key industry event in Riyadh Saudi Arabia. The Riyadh Real Estate & Urban Development Exhibition 2017 (Restatex Riyadh 2017) will kick off tomorrow (April 23) and run until April 26 at the Riyadh International Convention & Exhibition Center. The Department of Land and Real Estate Regulatory said it will put spotlight on Ajman s growing reputation as an ideal real estate investment destination. Ajman s real estate market stands at the threshold of a new phase of development which is right in the midst of the emirate s surge in tourism construction and infrastructure projects - all forming a friendly environment for foreign direct investments (FDI) it stated. It is without a doubt that these new projects will help boost Ajman&#...
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The Department of Land and Real Estate Regulatory will be highlighting the potential investment and growth opportunities in Ajman UAE mainly in the real estate segment at a key industry event in Riyadh Saudi Arabia. The Riyadh Real Estate & Urban Development Exhibition 2017 (Restatex Riyadh 2017) will kick off tomorrow (April 23) and run until April 26 at the Riyadh International Convention & Exhibition Center. The Department of Land and Real Estate Regulatory said it will put spotlight on Ajman s growing reputation as an ideal real estate investment destination. Ajman s real estate market stands at the threshold of a new phase of development which is right in the midst of the emirate s surge in tourism construction and infrastructure projects - all forming a friendly environment for foreign direct investments (FDI) it stated. It is without a doubt that these new projects will help boost Ajman&#...
GFH Real Estate (GFH RE) the real estate arm of GFH Financial Group is gearing up to showcase a number of landmark commercial and residential projects of the group at the upcoming Gulf Property Show in Bahrain. The Gulf Property Show is being held under the patronage of HRH Prince Khalifa bin Salman Al Khalifa Prime Minister of Bahrain from April 25 to 27 at the Bahrain International Exhibition & Convention Centre. Among the GFH projects in spotlight will be its notable developments currently under construction in its home base of Bahrain and Dubai. These include Harbour Row and Harbour Walk currently under development at the Financial Harbour and Dubai gated community development California Village in addition to its Villamar at the Harbour development where works recommenced last year and is progressing steadily. Each of these projects has been conceived by the group so as to raise the bar in terms of exc...
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GFH Real Estate (GFH RE) the real estate arm of GFH Financial Group is gearing up to showcase a number of landmark commercial and residential projects of the group at the upcoming Gulf Property Show in Bahrain. The Gulf Property Show is being held under the patronage of HRH Prince Khalifa bin Salman Al Khalifa Prime Minister of Bahrain from April 25 to 27 at the Bahrain International Exhibition & Convention Centre. Among the GFH projects in spotlight will be its notable developments currently under construction in its home base of Bahrain and Dubai. These include Harbour Row and Harbour Walk currently under development at the Financial Harbour and Dubai gated community development California Village in addition to its Villamar at the Harbour development where works recommenced last year and is progressing steadily. Each of these projects has been conceived by the group so as to raise the bar in terms of exc...
RP Kingdom Projects Bahrain s construction development and industrial power house has joined the upcoming Gulf Construction Expo 2017 as a Strategic Sponsor. Gulf Construction Expo is the northern Gulf s showcase for the GCC s building material and construction sector. The Expo runs from April 25 to 27 at the Bahrain International Exhibition and Convention Centre under the patronage of HRH Prime Minister Prince Khalifa bin Salman Al Khalifa. Dr Ravi Pillai chairman of RP Kingdom Projects expressed the company s delight to debut at the Expo as a Strategic Sponsor. The group is a major contractor with turnkey projects not only in Bahrain but around the GCC and other countries. Kingdom Projects is a diversified group with capabilities in large turnkey residential complexes as a leading contractor; project and property manager; landscape and interior designer; and safety security and maintenance specialist. ...
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RP Kingdom Projects Bahrain s construction development and industrial power house has joined the upcoming Gulf Construction Expo 2017 as a Strategic Sponsor. Gulf Construction Expo is the northern Gulf s showcase for the GCC s building material and construction sector. The Expo runs from April 25 to 27 at the Bahrain International Exhibition and Convention Centre under the patronage of HRH Prime Minister Prince Khalifa bin Salman Al Khalifa. Dr Ravi Pillai chairman of RP Kingdom Projects expressed the company s delight to debut at the Expo as a Strategic Sponsor. The group is a major contractor with turnkey projects not only in Bahrain but around the GCC and other countries. Kingdom Projects is a diversified group with capabilities in large turnkey residential complexes as a leading contractor; project and property manager; landscape and interior designer; and safety security and maintenance specialist. ...
Amna Insulations a leading provider of energy saving solutions for the construction sector has signed up as a green technology sponsor at the Gulf Construction Expo 2017 which opens next week in Manama Bahrain. Gulf Construction Expo (formerly Gulf Bid) is the northern Gulf s showcase for the GCC s building material and construction sector being organised by Hilal Conferences and Exhibition (HCE). It runs from April 25 to 27 at the Bahrain International Exhibition and Convention Centre under the patronage of HRH Prime Minister Prince Khalifa bin Salman Al Khalifa. A division of Al Mezal Group of Companies Amna will lead from the front as it showcases energy saving environmental friendly green products and solutions for the construction sector. Amna Insulations executive director Sulaiman Al Mezal said: We are proud to lead the Green Technology element at the GCC s establis...
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Amna Insulations a leading provider of energy saving solutions for the construction sector has signed up as a green technology sponsor at the Gulf Construction Expo 2017 which opens next week in Manama Bahrain. Gulf Construction Expo (formerly Gulf Bid) is the northern Gulf s showcase for the GCC s building material and construction sector being organised by Hilal Conferences and Exhibition (HCE). It runs from April 25 to 27 at the Bahrain International Exhibition and Convention Centre under the patronage of HRH Prime Minister Prince Khalifa bin Salman Al Khalifa. A division of Al Mezal Group of Companies Amna will lead from the front as it showcases energy saving environmental friendly green products and solutions for the construction sector. Amna Insulations executive director Sulaiman Al Mezal said: We are proud to lead the Green Technology element at the GCC s establis...
UAE-based developers Mubadala Development Company and Eshraq Properties have announced plans to set up a new real estate company which will jointly develop plots in Abu Dhabi. The move comes following the signing of a heads of terms pact in which the two parties agreed on a range of principles relating to the potential joint venture to jointly develop plots owned by Mubadala on Al Maryah Island and Eshraq Properties on Al Reem Island. Ali Eid Al Mheiri the executive director of Mubadala Real Estate and Infrastructure said: We are delighted to explore partnership opportunities with Eshraq Properties through this agreement. As a strategic investment company and the master developer of Al Maryah Island we are looking for experienced partners who can support our wider strategy and bring the right credentials to these projects. We are also pleased to be creating opportunities for a UAE business like Eshraq Properties to ...
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UAE-based developers Mubadala Development Company and Eshraq Properties have announced plans to set up a new real estate company which will jointly develop plots in Abu Dhabi. The move comes following the signing of a heads of terms pact in which the two parties agreed on a range of principles relating to the potential joint venture to jointly develop plots owned by Mubadala on Al Maryah Island and Eshraq Properties on Al Reem Island. Ali Eid Al Mheiri the executive director of Mubadala Real Estate and Infrastructure said: We are delighted to explore partnership opportunities with Eshraq Properties through this agreement. As a strategic investment company and the master developer of Al Maryah Island we are looking for experienced partners who can support our wider strategy and bring the right credentials to these projects. We are also pleased to be creating opportunities for a UAE business like Eshraq Properties to ...
There has been an overwhelming response from leading regional property firms for the Gulf Real Estate Awards being organised by Dubai Land Department (DLD). More than 150 companies are vying for the top honours which will be given to the winners on April 17 at a ceremony to be held in Safinah Ballroom at the Jumeirah Beach Hotel. The high turnout from regional companies demonstrates the credibility integrity and positive image of Dubai Land Department throughout the region. The awards programme which is aligned with DLD s vision to establish Dubai as a destination for innovation confidence and happiness is expected to position the department as a real estate leader specifically encouraging innovation in the sector and stimulating the adoption of best practices leading to sustainable growth across the GCC region. DLD confirmed that it had received 150 nominations in 21 categories from four GCC countries ...
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There has been an overwhelming response from leading regional property firms for the Gulf Real Estate Awards being organised by Dubai Land Department (DLD). More than 150 companies are vying for the top honours which will be given to the winners on April 17 at a ceremony to be held in Safinah Ballroom at the Jumeirah Beach Hotel. The high turnout from regional companies demonstrates the credibility integrity and positive image of Dubai Land Department throughout the region. The awards programme which is aligned with DLD s vision to establish Dubai as a destination for innovation confidence and happiness is expected to position the department as a real estate leader specifically encouraging innovation in the sector and stimulating the adoption of best practices leading to sustainable growth across the GCC region. DLD confirmed that it had received 150 nominations in 21 categories from four GCC countries ...
Hussain Sajwani the founder chairman and CEO of Damac Properties a leading luxury real estate developer in the region received major recognition at the Top CEO Awards 2017 ceremony held in Jeddah Saudi Arabia. Sajwan clinched the top spot amongst the real estate CEOs and ranked number 11 in the list of 100 regional CEOs compiled by Trends magazine in conjunction with Insead business school. The red carpet awards ceremony held recently at King Abdullah Economic City Saudi Arabia celebrated achievements of Top CEOs in the GCC region. It paid tribute to 100 business leaders whose efforts toward the success of their organisations are instrumental in the continued growth of the GCC and have excelled in the field of leadership said Mediaquest the media and events company behind the initiative. A leading luxury developer Damac has been at the forefront of the Middle East s real estate market since 2002 br...
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Hussain Sajwani the founder chairman and CEO of Damac Properties a leading luxury real estate developer in the region received major recognition at the Top CEO Awards 2017 ceremony held in Jeddah Saudi Arabia. Sajwan clinched the top spot amongst the real estate CEOs and ranked number 11 in the list of 100 regional CEOs compiled by Trends magazine in conjunction with Insead business school. The red carpet awards ceremony held recently at King Abdullah Economic City Saudi Arabia celebrated achievements of Top CEOs in the GCC region. It paid tribute to 100 business leaders whose efforts toward the success of their organisations are instrumental in the continued growth of the GCC and have excelled in the field of leadership said Mediaquest the media and events company behind the initiative. A leading luxury developer Damac has been at the forefront of the Middle East s real estate market since 2002 br...
Dubai-based Integrated National Logistics (INL) a leader in total logistics solution has constructed a central distribution and logistics centre one of the largest single-site warehousing complex in Dubai South with an investment of 85 million. The company offers several points of difference when it comes to the storage and handling of customer s goods with its 20 000 sq m of high bay multi temperature chill and frozen fully automated storage at a height of 29 m as well as 20 000 sq m of dry storage area holding 36 000 pallet positions at a height of 22 m said a statement from the company. INL has seen a considerable rise in the demand with its wide-ranging products and services from warehousing transportation to freight forwarding for clients in different sectors it said. As a leader in logistics solutions the company aims to offer multinational companies quality service and performance through its fully integrated logis...
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Dubai-based Integrated National Logistics (INL) a leader in total logistics solution has constructed a central distribution and logistics centre one of the largest single-site warehousing complex in Dubai South with an investment of 85 million. The company offers several points of difference when it comes to the storage and handling of customer s goods with its 20 000 sq m of high bay multi temperature chill and frozen fully automated storage at a height of 29 m as well as 20 000 sq m of dry storage area holding 36 000 pallet positions at a height of 22 m said a statement from the company. INL has seen a considerable rise in the demand with its wide-ranging products and services from warehousing transportation to freight forwarding for clients in different sectors it said. As a leader in logistics solutions the company aims to offer multinational companies quality service and performance through its fully integrated logis...
Europe will take the lead in disrupting the building sector with the help of 3D construction printing within the next three to five years according to industry experts taking part in a recent building expo in Copenhagen Denmark. The high European labour costs are driving the sector towards automation and reducing the use of human resources but the regulations needs to be updated they stated. The experts were speaking at the first Scandinavian 3D construction conference being organised by Larsen & Partners in partnership with sister company 3D Printhuset. The conference was completely sold out with more than 160 attendees linked to the construction sector from seven different countries taking part in the event. At the conference the participants could hear 3D printing and construction experts explain the different 3D construction printing technologies applied in more than 40 global 3D construction printing p...
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Europe will take the lead in disrupting the building sector with the help of 3D construction printing within the next three to five years according to industry experts taking part in a recent building expo in Copenhagen Denmark. The high European labour costs are driving the sector towards automation and reducing the use of human resources but the regulations needs to be updated they stated. The experts were speaking at the first Scandinavian 3D construction conference being organised by Larsen & Partners in partnership with sister company 3D Printhuset. The conference was completely sold out with more than 160 attendees linked to the construction sector from seven different countries taking part in the event. At the conference the participants could hear 3D printing and construction experts explain the different 3D construction printing technologies applied in more than 40 global 3D construction printing p...
Aconex Limited a leading cloud platform connecting teams on the world s largest construction and engineering projects has launched Aconex Connected Cost an integrated solution that brings together project controls and project information on a single cloud-based construction management platform. Connected Cost solves critical issues plaguing asset owners and contractors in the 10-trillion global construction industry. The problem disconnected teams and data Current project controls approaches are flawed wasteful and unsustainable the company says. These legacy solutions are disconnected and substandard leaving project team members uncertain and exposed to factors that impair their productivity including: Siloed information teams must chase information across organisations and applications which slows the discovery of issues that can drive up costs and delay schedules; Ma...
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Aconex Limited a leading cloud platform connecting teams on the world s largest construction and engineering projects has launched Aconex Connected Cost an integrated solution that brings together project controls and project information on a single cloud-based construction management platform. Connected Cost solves critical issues plaguing asset owners and contractors in the 10-trillion global construction industry. The problem disconnected teams and data Current project controls approaches are flawed wasteful and unsustainable the company says. These legacy solutions are disconnected and substandard leaving project team members uncertain and exposed to factors that impair their productivity including: Siloed information teams must chase information across organisations and applications which slows the discovery of issues that can drive up costs and delay schedules; Ma...
Weak economic conditions rising inflation and high costs of living continue to curb demand in Abu Dhabi s real estate market resulting in high vacancy rates in both the residential and commercial markets according to international real estate consultancy Cluttons. Landlords have started to offer more flexible deals to attract occupiers Cluttons said in a report. Residential Market The Cluttons Abu Dhabi Property Market Outlook for Spring 2017 indicates that 2016 saw capital values across Abu Dhabi s residential investment areas decrease by 6 per cent on average with sea view villas on Saadiyat registering a 19 per cent downward adjustment during the year leaving average values in this submarket at Dh1 800 per sq ft (psf); some Dh600 psf higher than the average across the rest of the submarkets that are monitored by Cluttons. Apartments on Reem Island (-11.1 per cent) experienced the second largest correction la...
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Weak economic conditions rising inflation and high costs of living continue to curb demand in Abu Dhabi s real estate market resulting in high vacancy rates in both the residential and commercial markets according to international real estate consultancy Cluttons. Landlords have started to offer more flexible deals to attract occupiers Cluttons said in a report. Residential Market The Cluttons Abu Dhabi Property Market Outlook for Spring 2017 indicates that 2016 saw capital values across Abu Dhabi s residential investment areas decrease by 6 per cent on average with sea view villas on Saadiyat registering a 19 per cent downward adjustment during the year leaving average values in this submarket at Dh1 800 per sq ft (psf); some Dh600 psf higher than the average across the rest of the submarkets that are monitored by Cluttons. Apartments on Reem Island (-11.1 per cent) experienced the second largest correction la...
NCB Capital the leading provider of wealth management and investment services in Saudi Arabia has announced the launch of its Pan European Real Estate Fund with more than 150 million raised through a private placement said a report. The Kingdom s largest asset manager NCB Capital has partnered with Fidelity International a leading global asset manager to invest in commercial properties including office retail logistics/industrial and mixed use located in key European property markets including France Germany Benelux and the United Kingdom reported Arab News . Favorable currency conversion rates robust legal and regulatory environments coupled with consistent growth expectations of the core European economies make this an opportune time to invest in a solid real estate market it added. ...
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NCB Capital the leading provider of wealth management and investment services in Saudi Arabia has announced the launch of its Pan European Real Estate Fund with more than 150 million raised through a private placement said a report. The Kingdom s largest asset manager NCB Capital has partnered with Fidelity International a leading global asset manager to invest in commercial properties including office retail logistics/industrial and mixed use located in key European property markets including France Germany Benelux and the United Kingdom reported Arab News . Favorable currency conversion rates robust legal and regulatory environments coupled with consistent growth expectations of the core European economies make this an opportune time to invest in a solid real estate market it added. ...
Egypt s Naeem Holding one of the largest growing investment banks in the Middle East and North Africa (Mena) region said it has started a private placement for a real estate fund worth E 1 billion ( 65 million). The country s first real estate investment fund will be managed by Naeem for Investment Fund Management it stated. The move comes following the approval from regulator Egyptian Financial Supervisory Authority (EFSA) to Naeem for the real estate fund said a top official. The placement will take place over one month and will be followed by an initial public offering for the fund by May-end remarked chief executive officer Youssef Elfar. He revealed this during a meeting with Sahar Nassr the Minister of Investment and International Co-operation to discuss the current investment climate in Egypt. Several senior members of Naeem Holding including its chairman Hussein Shobokshi chief...
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Egypt s Naeem Holding one of the largest growing investment banks in the Middle East and North Africa (Mena) region said it has started a private placement for a real estate fund worth E 1 billion ( 65 million). The country s first real estate investment fund will be managed by Naeem for Investment Fund Management it stated. The move comes following the approval from regulator Egyptian Financial Supervisory Authority (EFSA) to Naeem for the real estate fund said a top official. The placement will take place over one month and will be followed by an initial public offering for the fund by May-end remarked chief executive officer Youssef Elfar. He revealed this during a meeting with Sahar Nassr the Minister of Investment and International Co-operation to discuss the current investment climate in Egypt. Several senior members of Naeem Holding including its chairman Hussein Shobokshi chief...
Al Nooh company a family-run business synonymous with traditional values and quality products in Bahrain will unveil its corporate rebranding at Gulf Construction Expo 2017. Al Nooh managing director Hassan Al Nooh said: Quality reliability integrity are the cornerstones of our business principles carved into our business DNA by our late founder Abd Ali Essa Al Nooh. Our 2017 strategy has surrounded the reinvigoration of our brand by empowering it to regain Al Nooh s position as innovative leaders in building materials and wood work and related services. Al Nooh is an employer of first choice for talented craftsmen and we take pride also as a developer of the future generation of Bahraini talent. We share with the Gulf Construction Expo a mutual reputation for quality commitment to excellence he said. We will be using the show to debut the new look of our business for the nex...
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Al Nooh company a family-run business synonymous with traditional values and quality products in Bahrain will unveil its corporate rebranding at Gulf Construction Expo 2017. Al Nooh managing director Hassan Al Nooh said: Quality reliability integrity are the cornerstones of our business principles carved into our business DNA by our late founder Abd Ali Essa Al Nooh. Our 2017 strategy has surrounded the reinvigoration of our brand by empowering it to regain Al Nooh s position as innovative leaders in building materials and wood work and related services. Al Nooh is an employer of first choice for talented craftsmen and we take pride also as a developer of the future generation of Bahraini talent. We share with the Gulf Construction Expo a mutual reputation for quality commitment to excellence he said. We will be using the show to debut the new look of our business for the nex...
The real estate sector in Ras Al-Khaimah has expanded considerably over the last few years with the investment increasing from Dh3.401 billion ( 925.97 million) in 2011 to Dh4.947 billion ( 1.349 billion) in 2015. The growth amounted to 45 per cent over the period according to a study by the RAK Chamber of Commerce said a Wam news agency report. The annual growth of the real estate sector amounted to 15 per cent per annum over the period and ranked third after the industrial and tourism sectors contributing 13.3 per cent or Dh1.209 billion ( 329.17 million) to the emirate s economy in 2015. Rajaa Mohammed bin Juma Al Tunaiji head of the economic studies and commercial cooperation department at RAK Chamber said the developments in Ras Al-Khaimah s economy over the last five years indicate the importance of the real estate sector and its overall contribution to the growth of the emirate s economy. ...
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The real estate sector in Ras Al-Khaimah has expanded considerably over the last few years with the investment increasing from Dh3.401 billion ( 925.97 million) in 2011 to Dh4.947 billion ( 1.349 billion) in 2015. The growth amounted to 45 per cent over the period according to a study by the RAK Chamber of Commerce said a Wam news agency report. The annual growth of the real estate sector amounted to 15 per cent per annum over the period and ranked third after the industrial and tourism sectors contributing 13.3 per cent or Dh1.209 billion ( 329.17 million) to the emirate s economy in 2015. Rajaa Mohammed bin Juma Al Tunaiji head of the economic studies and commercial cooperation department at RAK Chamber said the developments in Ras Al-Khaimah s economy over the last five years indicate the importance of the real estate sector and its overall contribution to the growth of the emirate s economy. ...
The construction of the world s tallest building and iconic landmark the Burj Khalifa was envisaged as more than just the tallest structure in the world it represents an integrated vertical city one that uses innovation a report said. The report titled Shaping the Future of Construction: Inspiring Innovators Redefine the Industry compiled by the World Economic Forum in collaboration with The Boston Consulting Group (BCG) analyzes the construction of the Burj Khalifa among other innovative construction projects. The innovation cases in the report illustrate the value of embracing innovations. Prominent flagship projects such as Dubai s Burj Khalifa the world s tallest building showcase state-of-the-art innovation. Even in its planning stages in 2002 it was clear that many innovations would be needed in the design construction and building technologies. The initial design brief was for a bui...
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The construction of the world s tallest building and iconic landmark the Burj Khalifa was envisaged as more than just the tallest structure in the world it represents an integrated vertical city one that uses innovation a report said. The report titled Shaping the Future of Construction: Inspiring Innovators Redefine the Industry compiled by the World Economic Forum in collaboration with The Boston Consulting Group (BCG) analyzes the construction of the Burj Khalifa among other innovative construction projects. The innovation cases in the report illustrate the value of embracing innovations. Prominent flagship projects such as Dubai s Burj Khalifa the world s tallest building showcase state-of-the-art innovation. Even in its planning stages in 2002 it was clear that many innovations would be needed in the design construction and building technologies. The initial design brief was for a bui...
The value of real estate transactions in Dubai reached Dh77 billion ( 20.96 billion) during the first quarter of 2017 Dubai Land Department (DLD) has announced. There were 20 000 real estate transactions Sultan Butti bin Mejren director general of Dubai Land Department was quoted as saying in a Dubai Media Office report. He was speaking at a media gathering hosted by DLD as part of the Ask the Leader initiative organised by the Dubai International Government Achievements Exhibition 2017. Bin Mejren confirmed that according to the Land Department s data analysis there is a 45 per cent increase in the value of transactions compared to the first quarter of last year. This indicates that the real estate market in Dubai is preparing for a new phase of momentum and strong results achieved during the first quarter was expected especially with the sustainable growth that the real estate market is currently ...
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The value of real estate transactions in Dubai reached Dh77 billion ( 20.96 billion) during the first quarter of 2017 Dubai Land Department (DLD) has announced. There were 20 000 real estate transactions Sultan Butti bin Mejren director general of Dubai Land Department was quoted as saying in a Dubai Media Office report. He was speaking at a media gathering hosted by DLD as part of the Ask the Leader initiative organised by the Dubai International Government Achievements Exhibition 2017. Bin Mejren confirmed that according to the Land Department s data analysis there is a 45 per cent increase in the value of transactions compared to the first quarter of last year. This indicates that the real estate market in Dubai is preparing for a new phase of momentum and strong results achieved during the first quarter was expected especially with the sustainable growth that the real estate market is currently ...
Dubai Land Department (DLD) and law firm Al Tamimi have launched the Know Your Rights as a Real Estate Investor in Dubai guide at the Dubai International Government Achievements Exhibition 2017. The event was attended by the director general of DLD Sultan Butti bin Mejren and Husam Hourani managing partner of Al Tamimi & Co. who participated to provide more details about the guide and its aim to highlight the investor rights guaranteed by the Emirate s laws and regulations. Bin Mejren said: Through its various departments DLD is keen to cooperate with all concerned parties in the public and private sectors to spread awareness and a safe real estate culture among citizens residents and visitors by informing them of their rights and duties. This book will certainly help to inform investors about their rights and is also a tool for promoting a safe and stable investment environment for investors seeking opportunities in...
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Dubai Land Department (DLD) and law firm Al Tamimi have launched the Know Your Rights as a Real Estate Investor in Dubai guide at the Dubai International Government Achievements Exhibition 2017. The event was attended by the director general of DLD Sultan Butti bin Mejren and Husam Hourani managing partner of Al Tamimi & Co. who participated to provide more details about the guide and its aim to highlight the investor rights guaranteed by the Emirate s laws and regulations. Bin Mejren said: Through its various departments DLD is keen to cooperate with all concerned parties in the public and private sectors to spread awareness and a safe real estate culture among citizens residents and visitors by informing them of their rights and duties. This book will certainly help to inform investors about their rights and is also a tool for promoting a safe and stable investment environment for investors seeking opportunities in...
The value of real estate transactions in Dubai UAE reached Dh77 billion ( 21 billion) through 20 000 deals during the first quarter of 2017 said Sultan Butti bin Mejren director general of Dubai Land Department. Bin Mejren explained that according to the Land Department s data analysis there is an increase in the value of transactions by 45 per cent compared to the first quarter of 2016. This indicates that the real estate market in Dubai is preparing for a new phase of momentum and the rise and strong results achieved during the first quarter of this year was not surprising but expected especially with the sustainable growth that the real estate market is currently witnessing. He added that the total value of real estate investments reached more than Dh40 billion through 15 501 investment transactions. Bin Mejren was speaking at a media gathering as part of the Ask the Leader initiative organised by...
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The value of real estate transactions in Dubai UAE reached Dh77 billion ( 21 billion) through 20 000 deals during the first quarter of 2017 said Sultan Butti bin Mejren director general of Dubai Land Department. Bin Mejren explained that according to the Land Department s data analysis there is an increase in the value of transactions by 45 per cent compared to the first quarter of 2016. This indicates that the real estate market in Dubai is preparing for a new phase of momentum and the rise and strong results achieved during the first quarter of this year was not surprising but expected especially with the sustainable growth that the real estate market is currently witnessing. He added that the total value of real estate investments reached more than Dh40 billion through 15 501 investment transactions. Bin Mejren was speaking at a media gathering as part of the Ask the Leader initiative organised by...
Kale Logistics Solutions a leading IT solutions provider for the logistics industry has been named in the top 25 list of fastest growing companies serving the logistics ecosystem in India by the CEO magazine. The magazine follows a stringent process of evaluating companies based on several parameters like product innovations market positioning and approach customer centricity and global reach said a statement from the company. As India becomes a sought-after destination for logistics business with its proximity to world s major markets the industry is witnessing development and expansion with significant government led infrastructure spending foreign investment and an influx of cutting edge technology in this sun rise sector it said. India s transportation sector alone is expected to be a 300 billion industry by 2020 it added. Amar More CEO Kale Logistics Solutions said: It is great ...
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Kale Logistics Solutions a leading IT solutions provider for the logistics industry has been named in the top 25 list of fastest growing companies serving the logistics ecosystem in India by the CEO magazine. The magazine follows a stringent process of evaluating companies based on several parameters like product innovations market positioning and approach customer centricity and global reach said a statement from the company. As India becomes a sought-after destination for logistics business with its proximity to world s major markets the industry is witnessing development and expansion with significant government led infrastructure spending foreign investment and an influx of cutting edge technology in this sun rise sector it said. India s transportation sector alone is expected to be a 300 billion industry by 2020 it added. Amar More CEO Kale Logistics Solutions said: It is great ...
A large fire broke out in an under-construction tower near The Dubai Mall in Dubai this morning reports said. No casualty has been reported so far. A statement by Dubai Media Office said Civil Defence has brought under control fire that broke out in under-construction Fountain Views Towers. Cooling operations are under way it said. Three people were reported rescued from the site. An investigation into the cause is currently under way said a report in The National website. The site is near The Address Downtown Dubai tower that was heavily damaged in a fire on New Year s Eve 2015. ...
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A large fire broke out in an under-construction tower near The Dubai Mall in Dubai this morning reports said. No casualty has been reported so far. A statement by Dubai Media Office said Civil Defence has brought under control fire that broke out in under-construction Fountain Views Towers. Cooling operations are under way it said. Three people were reported rescued from the site. An investigation into the cause is currently under way said a report in The National website. The site is near The Address Downtown Dubai tower that was heavily damaged in a fire on New Year s Eve 2015. ...
A slowing rate of decline across all sectors of the Dubai real estate market suggests increasing stability and the expectation of the market bottoming out before the end of 2017 according to leading international real estate consultancy Cluttons. Cluttons Dubai Spring 2017 Property Market Outlook reports that despite the persistence of market corrections in Q1 2017 average residential prices have moderated by 0.9 per cent with the annual rate of decline slowing from - 8.8 per cent at the close of 2016 to -7.8 per cent at the end of March. Increasing supply changing demand for executive positions in the employment market and increasing rent moderation are all expected to continue to impact the residential market during 2017. In the Dubai office market the planned introduction of VAT on January 1 2018 is already causing a nervousness amongst existing tenants the Cluttons report finds. Residential Market ...
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A slowing rate of decline across all sectors of the Dubai real estate market suggests increasing stability and the expectation of the market bottoming out before the end of 2017 according to leading international real estate consultancy Cluttons. Cluttons Dubai Spring 2017 Property Market Outlook reports that despite the persistence of market corrections in Q1 2017 average residential prices have moderated by 0.9 per cent with the annual rate of decline slowing from - 8.8 per cent at the close of 2016 to -7.8 per cent at the end of March. Increasing supply changing demand for executive positions in the employment market and increasing rent moderation are all expected to continue to impact the residential market during 2017. In the Dubai office market the planned introduction of VAT on January 1 2018 is already causing a nervousness amongst existing tenants the Cluttons report finds. Residential Market ...
With 234.4 billion worth of active construction projects and 34 billion worth of developments in the concept or design phase the construction sector in Kuwait is poised for solid growth this year despite low oil prices said a report. The government plan to increase oil production is spurring Kuwait s construction sector stated a report by BNC Networks a leading project research and intelligence provider in the region commissioned by The Big 5 Kuwait the largest construction show in the country which kicks off in September. To be held from September 25 to 27 at the Kuwait International Fair the event is expected to attract record-breaking numbers of exhibitors and visitors in 2017. Of the five major construction projects currently going on in the Gulf country four are linked to the oil and gas sector it stated. After the Kuwait National Railway Network worth 10 billion Al Ahmadi s Olefins III come...
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With 234.4 billion worth of active construction projects and 34 billion worth of developments in the concept or design phase the construction sector in Kuwait is poised for solid growth this year despite low oil prices said a report. The government plan to increase oil production is spurring Kuwait s construction sector stated a report by BNC Networks a leading project research and intelligence provider in the region commissioned by The Big 5 Kuwait the largest construction show in the country which kicks off in September. To be held from September 25 to 27 at the Kuwait International Fair the event is expected to attract record-breaking numbers of exhibitors and visitors in 2017. Of the five major construction projects currently going on in the Gulf country four are linked to the oil and gas sector it stated. After the Kuwait National Railway Network worth 10 billion Al Ahmadi s Olefins III come...
UAE-based Bloom Properties said its diverse project portfolio has attracted a high level of interest from major Chinese investors who consider the UAE a preferred alternative real estate destination. The Abu Dhabi-based developer had last week hosted a bespoke event at the Marriott Hotel Riverside Shanghai to showcase its wide range of real estate developments and investment opportunities in Abu Dhabi and Dubai. It was held along the sidelines of the Dubai Property Show in Shanghai that ran from March 24 to 26 at the Shanghai World Expo Exhibition and Convention Center. The one-day event drew the participation of more than 60 VIPs high-net-worth investors brokers and representatives of leading Chinese property investment companies including Fosun Group Core and IResearch. Sameh Muhtadi CEO of Bloom Holding said: Today China boasts one of the world s fastest-growing economies and its investors are spre...
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UAE-based Bloom Properties said its diverse project portfolio has attracted a high level of interest from major Chinese investors who consider the UAE a preferred alternative real estate destination. The Abu Dhabi-based developer had last week hosted a bespoke event at the Marriott Hotel Riverside Shanghai to showcase its wide range of real estate developments and investment opportunities in Abu Dhabi and Dubai. It was held along the sidelines of the Dubai Property Show in Shanghai that ran from March 24 to 26 at the Shanghai World Expo Exhibition and Convention Center. The one-day event drew the participation of more than 60 VIPs high-net-worth investors brokers and representatives of leading Chinese property investment companies including Fosun Group Core and IResearch. Sameh Muhtadi CEO of Bloom Holding said: Today China boasts one of the world s fastest-growing economies and its investors are spre...
Indosuez Wealth Management has appointed Vincenzo Salari as its global head of real estate in the Markets and Investment Solutions Division (MIS). He will lead the group s strategy for its real estate products and services both internationally and locally leveraging on Indosuez s strong local expertise as well as the full access to its international network. Salari is based in Luxembourg and reports to Frédéric Lamotte as chief investment officer for Indosuez Wealth Management. Salari graduated with a degree in architecture and a Master s in urban planning from Ecole Polytechnique de Milan after which he began his career as an architect in 2004. He then joined REAG American Appraisal as a real estate advisor developing his expertise in the valuation of all types of real estate assets in Italy. Salari then became a senior manager in the investments and transactions department at BNP Paribas Real Estate...
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Indosuez Wealth Management has appointed Vincenzo Salari as its global head of real estate in the Markets and Investment Solutions Division (MIS). He will lead the group s strategy for its real estate products and services both internationally and locally leveraging on Indosuez s strong local expertise as well as the full access to its international network. Salari is based in Luxembourg and reports to Frédéric Lamotte as chief investment officer for Indosuez Wealth Management. Salari graduated with a degree in architecture and a Master s in urban planning from Ecole Polytechnique de Milan after which he began his career as an architect in 2004. He then joined REAG American Appraisal as a real estate advisor developing his expertise in the valuation of all types of real estate assets in Italy. Salari then became a senior manager in the investments and transactions department at BNP Paribas Real Estate...
With more than 500 brands on display The Big 5 Saudi is attracting thousands of visitors to source products from local and international construction manufacturers said the organisers. Market leaders from Saudi Arabia including Zamil Industrial Sabic Al Omran Group Al Yamamah Company for Reinforcing Steel Bars Saudi Industries for PVC Windows (Wintek) & Saudi Industries for Pipes Company are exhibiting along with international manufacturers of construction products. Regional countries also have a strong presence at the show represented by industry leaders such as Ace Crane Systems LLC Harwal Group RakTherm Salam Enterprises Company and Laticrete Middle East they stated. Qatar is one of the country pavilions present at the event this year with 29 companies manufacturing a wide range of products for the built environment from concrete pipes to lighting solutions construction panels and aluminium fabrications. br ...
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With more than 500 brands on display The Big 5 Saudi is attracting thousands of visitors to source products from local and international construction manufacturers said the organisers. Market leaders from Saudi Arabia including Zamil Industrial Sabic Al Omran Group Al Yamamah Company for Reinforcing Steel Bars Saudi Industries for PVC Windows (Wintek) & Saudi Industries for Pipes Company are exhibiting along with international manufacturers of construction products. Regional countries also have a strong presence at the show represented by industry leaders such as Ace Crane Systems LLC Harwal Group RakTherm Salam Enterprises Company and Laticrete Middle East they stated. Qatar is one of the country pavilions present at the event this year with 29 companies manufacturing a wide range of products for the built environment from concrete pipes to lighting solutions construction panels and aluminium fabrications. br ...
The Big 5 Saudi the largest building and construction show in the kingdom kicked off in Jeddah today attracting more than 500 exhibitors from over 20 countries besides thousands of professionals. The four-day event was inaugurated by Zeyad Bin Bassam Mohammed Al Bassam the vice chairman of Jeddah Chamber of Commerce. The seventh edition of The Big 5 Saudi will run until March 30. Attracting thousands of visitors at the Jeddah Centre for Forums and Events the show is also hosting country pavilions from Italy Turkey Germany Greece China Qatar Kuwait Spain Hungary and India. Beyond boosting business and networking opportunities The Big 5 Saudi is showcasing over 600 brands this year providing access to the latest and most innovative solutions for the built environment said the organisers. Some of the region s most prominent industry experts will deliver 48 CPD (Continuous Professional Development)...
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The Big 5 Saudi the largest building and construction show in the kingdom kicked off in Jeddah today attracting more than 500 exhibitors from over 20 countries besides thousands of professionals. The four-day event was inaugurated by Zeyad Bin Bassam Mohammed Al Bassam the vice chairman of Jeddah Chamber of Commerce. The seventh edition of The Big 5 Saudi will run until March 30. Attracting thousands of visitors at the Jeddah Centre for Forums and Events the show is also hosting country pavilions from Italy Turkey Germany Greece China Qatar Kuwait Spain Hungary and India. Beyond boosting business and networking opportunities The Big 5 Saudi is showcasing over 600 brands this year providing access to the latest and most innovative solutions for the built environment said the organisers. Some of the region s most prominent industry experts will deliver 48 CPD (Continuous Professional Development)...
Engineering Contracting Company (ECC) a leading civil engineering and construction company in the UAE has registered eight per cent growth in 2016 despite the slowdown in the market. ECC s positive annual growth figures are largely due to its delivery reputation and strong financial position said the company in a satement. The company has also grown in terms of manpower and machinery currently employing more than 7 000 highly qualified team members it added. The solid results come at a time when ECC is celebrating its four decades of success in the UAE said a top official. Throughout our 42-year history we have successfully weathered both market challenges and periods of rapid development by pacing our own expansion. Our growth and current position can be credited to our strength as a company and long-standing reputation in the UAE remarked its founder and chairman Hatem Farah. br ...
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Engineering Contracting Company (ECC) a leading civil engineering and construction company in the UAE has registered eight per cent growth in 2016 despite the slowdown in the market. ECC s positive annual growth figures are largely due to its delivery reputation and strong financial position said the company in a satement. The company has also grown in terms of manpower and machinery currently employing more than 7 000 highly qualified team members it added. The solid results come at a time when ECC is celebrating its four decades of success in the UAE said a top official. Throughout our 42-year history we have successfully weathered both market challenges and periods of rapid development by pacing our own expansion. Our growth and current position can be credited to our strength as a company and long-standing reputation in the UAE remarked its founder and chairman Hatem Farah. br ...
Big 5 Saudi the largest and fastest growing construction show in the kingdom kicks off in Jeddah tomorrow (March 27) with more than 500 exhibitors from 20 countries across the globe taking part. Running until March 30 The Big 5 Saudi 2017 will be showcasing the most innovative products for the built environment which are vital to delivering successfully Saudi Vision 2030 s mega-projects. This year The Big 5 Saudi will also host country pavilions from Italy Turkey Germany Greece China Qatar Kuwait Spain Hungary and India said the organisers. Excitement grows among industry professionals as largest construction event in the Kingdom opens its doors to thousands of industry professionals at the Jeddah Centre for Forums and Events they stated. The event will be an exclusive platform for 15 000 peers to network do business and learn as it will display 600 brands from regional and international industry le...
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Big 5 Saudi the largest and fastest growing construction show in the kingdom kicks off in Jeddah tomorrow (March 27) with more than 500 exhibitors from 20 countries across the globe taking part. Running until March 30 The Big 5 Saudi 2017 will be showcasing the most innovative products for the built environment which are vital to delivering successfully Saudi Vision 2030 s mega-projects. This year The Big 5 Saudi will also host country pavilions from Italy Turkey Germany Greece China Qatar Kuwait Spain Hungary and India said the organisers. Excitement grows among industry professionals as largest construction event in the Kingdom opens its doors to thousands of industry professionals at the Jeddah Centre for Forums and Events they stated. The event will be an exclusive platform for 15 000 peers to network do business and learn as it will display 600 brands from regional and international industry le...
Indians remain the most prolific foreign investors in Dubai s real estate sector ranking highest both in terms of volume and value with Dh12 billion ( 3.26 billion) worth of property transactions from 6 263 buyers said a report released ahead of a major industry event. The 13th edition of the International Property Show to be held from April 2 to 4 at Dubai World Trade Centre will have some of the best properties on display. Dubai is increasingly becoming a hot favourite investment destination among Indians for a number of reasons including high capital gains great return on investment tax-free environment proximity to India and transparent deals said the event organisers Strategic Marketing & Exhibitions. The total real estate investments last year reached Dh91 billion ( 25 billion) from 55 928 investors it said citing data relased by Dubai s Land Department (DLD). At the International Property Sho...
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Indians remain the most prolific foreign investors in Dubai s real estate sector ranking highest both in terms of volume and value with Dh12 billion ( 3.26 billion) worth of property transactions from 6 263 buyers said a report released ahead of a major industry event. The 13th edition of the International Property Show to be held from April 2 to 4 at Dubai World Trade Centre will have some of the best properties on display. Dubai is increasingly becoming a hot favourite investment destination among Indians for a number of reasons including high capital gains great return on investment tax-free environment proximity to India and transparent deals said the event organisers Strategic Marketing & Exhibitions. The total real estate investments last year reached Dh91 billion ( 25 billion) from 55 928 investors it said citing data relased by Dubai s Land Department (DLD). At the International Property Sho...
Oman s Special Economic Zone Authority at Duqm (Sezad) has awarded RO625 million ( 1.62 billion) construction contracts till date and with new infrastructure projects in the tendering stage the figure is set to hit a new high according to a report. Sezad also awarded consultancy project deal worth over RO30 million ( 78 million) reported Oman Observer citing a senior official. Projects awarded last month alone totalled around RO49 million ( 127 million) in value underscoring the pace at which the sultanate s most ambitious economic zone is being developed said Hussain Al Zadjali the head of building projects at Sezad. A number of prestigious contracts are currently under tender and due for award including those for a service corridor to the 6-billion Duqm Refinery expansion of the water distribution network construction of new roads and bridges establishment of drainage systems at Duqm Port and ...
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Oman s Special Economic Zone Authority at Duqm (Sezad) has awarded RO625 million ( 1.62 billion) construction contracts till date and with new infrastructure projects in the tendering stage the figure is set to hit a new high according to a report. Sezad also awarded consultancy project deal worth over RO30 million ( 78 million) reported Oman Observer citing a senior official. Projects awarded last month alone totalled around RO49 million ( 127 million) in value underscoring the pace at which the sultanate s most ambitious economic zone is being developed said Hussain Al Zadjali the head of building projects at Sezad. A number of prestigious contracts are currently under tender and due for award including those for a service corridor to the 6-billion Duqm Refinery expansion of the water distribution network construction of new roads and bridges establishment of drainage systems at Duqm Port and ...
Jabal Omar Development the largest listed real estate group in Saudi Arabia by market capitalisation said it has reached an agreement with Alinma Investment Company for sale of its key assets in Makkah including three major hotels and a shopping mall for SR6 billion ( 1.59 billion). These include the Saudi developer s ambitious hospitality project - Makkah Conrad Hilton Makkah Hyatt Regency Makkah - besides the Al Khalil Shopping Centre the company said in a statement to Saudi bourse Tadawul. The Jabal Omar deal comes following a five-month MoU signed in August last year with Alinma Investment for setting up a fund that would sell and lease back real estate assets. Under this MoU the fund will acquire income-generating operating assets which are located in the first phase of Jabal Omar s Makkah development project. If a deal for the new fund is reached Alinma will re-lease the assets to Jabal Omar which ...
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Jabal Omar Development the largest listed real estate group in Saudi Arabia by market capitalisation said it has reached an agreement with Alinma Investment Company for sale of its key assets in Makkah including three major hotels and a shopping mall for SR6 billion ( 1.59 billion). These include the Saudi developer s ambitious hospitality project - Makkah Conrad Hilton Makkah Hyatt Regency Makkah - besides the Al Khalil Shopping Centre the company said in a statement to Saudi bourse Tadawul. The Jabal Omar deal comes following a five-month MoU signed in August last year with Alinma Investment for setting up a fund that would sell and lease back real estate assets. Under this MoU the fund will acquire income-generating operating assets which are located in the first phase of Jabal Omar s Makkah development project. If a deal for the new fund is reached Alinma will re-lease the assets to Jabal Omar which ...
RSA Logistics a leading provider of third-party logistics in Dubai UAE has signed up SirajPower to deliver a solar rooftop solution for its facility in Dubai South. A Dubai-based joint venture SirajPower is a key provider of comprehensive turnkey net metering solutions on solar rooftops across the emirate. The solar lease agreement between RSA Logistics and SirajPower is in line with Dubai Electricity and Water Authority s (Dewa) Shams Dubai initiative the new regulatory framework put in place by the Dubai government in order to encourage solar solutions across the emirate. David Auriau the director at SirajPower pointed out that the first-of-a-kind project will not only help cut energy expenditure but also promote a green image among the public. Logistics companies have a key role to play in transforming Dubai into the smartest city in the world and we sincerely thank RSA Logistics for trustin...
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RSA Logistics a leading provider of third-party logistics in Dubai UAE has signed up SirajPower to deliver a solar rooftop solution for its facility in Dubai South. A Dubai-based joint venture SirajPower is a key provider of comprehensive turnkey net metering solutions on solar rooftops across the emirate. The solar lease agreement between RSA Logistics and SirajPower is in line with Dubai Electricity and Water Authority s (Dewa) Shams Dubai initiative the new regulatory framework put in place by the Dubai government in order to encourage solar solutions across the emirate. David Auriau the director at SirajPower pointed out that the first-of-a-kind project will not only help cut energy expenditure but also promote a green image among the public. Logistics companies have a key role to play in transforming Dubai into the smartest city in the world and we sincerely thank RSA Logistics for trustin...
UAE-based Omran Properties has announced plans to launch three real estate projects worth a total Dh2.47 billion ( 672 million) in the emirate of Sharjah as part of its massive investment drive. The company established in 2016 through a strategic partnership between Sharjah Investment and Development Authority (Shurooq) Dubai s Emaar Properties and Eagle Hills an Abu Dhabi-based developer is slated to launch these projects later this year. The unprecedented developments - the first Omran has made in Sharjah - bring new residential retail commercial and hospitality opportunities to Sharjah s existing and potential investors. The largest of the developments is Maryam Island a unique Dh2.26-billion ( 615 million) mixed-use development located between Al Khan Lagoon and Al Mamzar peninsula. The award-winning Al Khan Village Resort a five-star hotel is worth Dh121 million ( 33 million) and &ls...
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UAE-based Omran Properties has announced plans to launch three real estate projects worth a total Dh2.47 billion ( 672 million) in the emirate of Sharjah as part of its massive investment drive. The company established in 2016 through a strategic partnership between Sharjah Investment and Development Authority (Shurooq) Dubai s Emaar Properties and Eagle Hills an Abu Dhabi-based developer is slated to launch these projects later this year. The unprecedented developments - the first Omran has made in Sharjah - bring new residential retail commercial and hospitality opportunities to Sharjah s existing and potential investors. The largest of the developments is Maryam Island a unique Dh2.26-billion ( 615 million) mixed-use development located between Al Khan Lagoon and Al Mamzar peninsula. The award-winning Al Khan Village Resort a five-star hotel is worth Dh121 million ( 33 million) and &ls...
Kuwaiti real estate investment in Dubai has crossed the Dh2 billion ( 533 million) mark in 2016 with investors pumping their money into various residential and commercial properties across the emirate said a report released ahead of a key industry event. International Property Show 2017 a one-stop shop opportunity for investors and real estate professionals from the Middle East and the rest of the world will be held from April 2 to 4 at the Dubai World Trade Centre. The three-day expo is likely to attract a wide range of visitors from Kuwait said the event organisers Strategic marketing & Exhibitions. This comes at a time Kuwaiti investors are more demanding realty investments in Dubai in the form of villas apartments and offices they stated. In 2016 the number of Kuwaiti investors in Dubai s real estate market surged to hit 770 said the organsiers citing the Dubai Land Department (DLD) data. br ...
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Kuwaiti real estate investment in Dubai has crossed the Dh2 billion ( 533 million) mark in 2016 with investors pumping their money into various residential and commercial properties across the emirate said a report released ahead of a key industry event. International Property Show 2017 a one-stop shop opportunity for investors and real estate professionals from the Middle East and the rest of the world will be held from April 2 to 4 at the Dubai World Trade Centre. The three-day expo is likely to attract a wide range of visitors from Kuwait said the event organisers Strategic marketing & Exhibitions. This comes at a time Kuwaiti investors are more demanding realty investments in Dubai in the form of villas apartments and offices they stated. In 2016 the number of Kuwaiti investors in Dubai s real estate market surged to hit 770 said the organsiers citing the Dubai Land Department (DLD) data. br ...
UAE-based global conglomerate Transworld Group and Japan s Suzue Corporation have formed a joint venture company to explore the growing logistics business opportunities within the Gulf region Indian Sub-continent and Japan. The strategic agreement agreement between the copanies was signed in Dubai UAE by Ramesh S Ramakrishnan chairman of Transworld Group; and Takahiro Suzue president and representative director of Suzue Corporation Japan said a statement. Under the agreement Transworld Group and Suzue Corporation will incorporate a joint venture company at Jebel Ali Free Zone in Dubai to focus on the Gulf region Indian sub-continent and Japan it said. The company will provide comprehensive services to their global customers in supply chain management international freight forwarding customs clearance warehousing and distribution land transport and other related logistics services. It will also have a focus on land b...
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UAE-based global conglomerate Transworld Group and Japan s Suzue Corporation have formed a joint venture company to explore the growing logistics business opportunities within the Gulf region Indian Sub-continent and Japan. The strategic agreement agreement between the copanies was signed in Dubai UAE by Ramesh S Ramakrishnan chairman of Transworld Group; and Takahiro Suzue president and representative director of Suzue Corporation Japan said a statement. Under the agreement Transworld Group and Suzue Corporation will incorporate a joint venture company at Jebel Ali Free Zone in Dubai to focus on the Gulf region Indian sub-continent and Japan it said. The company will provide comprehensive services to their global customers in supply chain management international freight forwarding customs clearance warehousing and distribution land transport and other related logistics services. It will also have a focus on land b...
Swiss-headquartered Panalpina Group a leading provider of supply chain solutions in the world has announced the opening of its 40 000-sq-m logistics and manufacturing facility at Dubai South. The new facility which is Panalpina s largest logistics and manufacturing facility globally is Dubai South s second built-to-suit product delivery. A fully air-conditioned Grade A facility the building has three partitioned sections allowing for customer privacy including a dust-free environment repair room fully equipped with anti-static flooring specialised lighting and temperature and humidity control. The repair room will accommodate hi-tech mobile phone tablet laptop games console diagnostics and repair operations while the logistics manufacturing services area has special lighting and electrical supply points to accommodate the specific operations. The facility was opened in the presence of Sheikh Ahmed bin Saee...
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Swiss-headquartered Panalpina Group a leading provider of supply chain solutions in the world has announced the opening of its 40 000-sq-m logistics and manufacturing facility at Dubai South. The new facility which is Panalpina s largest logistics and manufacturing facility globally is Dubai South s second built-to-suit product delivery. A fully air-conditioned Grade A facility the building has three partitioned sections allowing for customer privacy including a dust-free environment repair room fully equipped with anti-static flooring specialised lighting and temperature and humidity control. The repair room will accommodate hi-tech mobile phone tablet laptop games console diagnostics and repair operations while the logistics manufacturing services area has special lighting and electrical supply points to accommodate the specific operations. The facility was opened in the presence of Sheikh Ahmed bin Saee...
Arcapita the global alternative investment firm said it had acquired a portfolio of income-generating logistics assets in Dubai UAE for a total transaction value of 150 million. This transaction together with eight warehousing facilities in the Al Quoz area of Dubai acquired by Arcapita last year will bring the value of its UAE logistics portfolio to 250 million. The new portfolio comprises up to 10 warehousing facilities occupying a total built-up area in excess of 1.2 million sq ft primarily in Dubai Investments Park (DIP) the largest integrated mixed-use industrial commercial and residential zone in the Middle East. As Dubai continues to consolidate its position as the Middle East s commercial and logistics hub Arcapita is utilizing its sector knowledge to acquire assets that are located in close proximity to Al Maktoum International Airport Expo 2020 site and Dubai s major transport and logistics arteries. ...
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Arcapita the global alternative investment firm said it had acquired a portfolio of income-generating logistics assets in Dubai UAE for a total transaction value of 150 million. This transaction together with eight warehousing facilities in the Al Quoz area of Dubai acquired by Arcapita last year will bring the value of its UAE logistics portfolio to 250 million. The new portfolio comprises up to 10 warehousing facilities occupying a total built-up area in excess of 1.2 million sq ft primarily in Dubai Investments Park (DIP) the largest integrated mixed-use industrial commercial and residential zone in the Middle East. As Dubai continues to consolidate its position as the Middle East s commercial and logistics hub Arcapita is utilizing its sector knowledge to acquire assets that are located in close proximity to Al Maktoum International Airport Expo 2020 site and Dubai s major transport and logistics arteries. ...
Haji Hassan a diversified construction-focused group has signed up as the strategic sponsor for Gulf Construction Expo (formerly gulfBID) - the biggest showcase for the building and construction sector in the Northern Gulf - for the third consecutive year. Gulf Construction Expo will run from April 25 to 27 at the Bahrain International Exhibition and Convention Centre under the patronage of HRH Prime Minister Prince Khalifa bin Salman Al Khalifa said the event organiser Hilal Conferences and Exhibition (HCE). The Haji Hassan Group of Companies will be presenting itsdiverse corporate portfolio at Gulf Construction Expo. Amongst the group s companies represented will be the Arabian Parts Company Bahrain Asphalt Arabian Chemical Industries (Isola) Haji Hasan Ready-mix Bahrain Pipes Bahrain Precast Concrete Bahrain Blocks and Haji Hassan Reinforcement. Group chairman Adel Hassan Al A Ali said: Gulf Co...
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Haji Hassan a diversified construction-focused group has signed up as the strategic sponsor for Gulf Construction Expo (formerly gulfBID) - the biggest showcase for the building and construction sector in the Northern Gulf - for the third consecutive year. Gulf Construction Expo will run from April 25 to 27 at the Bahrain International Exhibition and Convention Centre under the patronage of HRH Prime Minister Prince Khalifa bin Salman Al Khalifa said the event organiser Hilal Conferences and Exhibition (HCE). The Haji Hassan Group of Companies will be presenting itsdiverse corporate portfolio at Gulf Construction Expo. Amongst the group s companies represented will be the Arabian Parts Company Bahrain Asphalt Arabian Chemical Industries (Isola) Haji Hasan Ready-mix Bahrain Pipes Bahrain Precast Concrete Bahrain Blocks and Haji Hassan Reinforcement. Group chairman Adel Hassan Al A Ali said: Gulf Co...
The creation of free zones and transparency of the property market will be key to attracting foreign investment into the Abu Dhabi real estate sectors said an industry expert ahead of an upcoming industry event. Cityscape Abu Dhabi the emirate s most prominent real estate showcase will run from April 18 to 20 at the Abu Dhabi National Exhibition Centre. The concept of free zones is more advanced in Dubai and in order to redress this balance between the two emirates Abu Dhabi needs to develop its existing free zones more aggressively and consider launching additional free zones for those industries that it seeks to promote under the 2030 vision remarked Craig Plumb the head of research at leading real estate consultancy JLL. Supporting the creation of new investment environments will be one of the key topics debated at the The Cityscape Abu Dhabi Conference to be held on the opening day of the expo stated Plumb w...
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The creation of free zones and transparency of the property market will be key to attracting foreign investment into the Abu Dhabi real estate sectors said an industry expert ahead of an upcoming industry event. Cityscape Abu Dhabi the emirate s most prominent real estate showcase will run from April 18 to 20 at the Abu Dhabi National Exhibition Centre. The concept of free zones is more advanced in Dubai and in order to redress this balance between the two emirates Abu Dhabi needs to develop its existing free zones more aggressively and consider launching additional free zones for those industries that it seeks to promote under the 2030 vision remarked Craig Plumb the head of research at leading real estate consultancy JLL. Supporting the creation of new investment environments will be one of the key topics debated at the The Cityscape Abu Dhabi Conference to be held on the opening day of the expo stated Plumb w...
Oman is working on a proposal to make Omanisation rate of 10 per cent mandatory for construction companies and is likely to come into effect by the end of June said a report. The proposal was drafted by the Oman Society of Contractors (OSC) in December last year and it is in the advanced stages of approval reported Time of Oman citing a senior official. There are a lot of processes involved before the law is passed. We have reached a good position. The ministerial decree has been drafted and is being looked into by legal affairs. There is permission required by the cabinet remarked ist CEO Shashwar Al Balushi. It is all being done now and we are expecting the law to be out in the first half of this year if not sooner he told Times of Oman in an interview. The proposal by OSC reflects a gradual increase in the nationalisation rate in companies from 10 per cent in 2017 to 15 per cent ...
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Oman is working on a proposal to make Omanisation rate of 10 per cent mandatory for construction companies and is likely to come into effect by the end of June said a report. The proposal was drafted by the Oman Society of Contractors (OSC) in December last year and it is in the advanced stages of approval reported Time of Oman citing a senior official. There are a lot of processes involved before the law is passed. We have reached a good position. The ministerial decree has been drafted and is being looked into by legal affairs. There is permission required by the cabinet remarked ist CEO Shashwar Al Balushi. It is all being done now and we are expecting the law to be out in the first half of this year if not sooner he told Times of Oman in an interview. The proposal by OSC reflects a gradual increase in the nationalisation rate in companies from 10 per cent in 2017 to 15 per cent ...
Case Construction Equipment has launched its new website designed to deliver seamless support and information to customers when they need it wherever they are and on any device. A major global brand Case Construction Equipment sells and supports a full line of construction equipment around the world including the No.1 loader/backhoes excavators motor graders wheel loaders vibratory compaction rollers crawler dozers skid steers compact track loaders and rough-terrain forklifts. The new site delivers a clean modular layout with pages that are easy to navigate and product information that is readily available said a statement from the company. A distinct vertical navigation allows for easy browsing and opens up the main area of the screen to view more information at one time. Responsive design detects the device being used and automatically adjusts the page layout and resolution for screen size. The same e...
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Case Construction Equipment has launched its new website designed to deliver seamless support and information to customers when they need it wherever they are and on any device. A major global brand Case Construction Equipment sells and supports a full line of construction equipment around the world including the No.1 loader/backhoes excavators motor graders wheel loaders vibratory compaction rollers crawler dozers skid steers compact track loaders and rough-terrain forklifts. The new site delivers a clean modular layout with pages that are easy to navigate and product information that is readily available said a statement from the company. A distinct vertical navigation allows for easy browsing and opens up the main area of the screen to view more information at one time. Responsive design detects the device being used and automatically adjusts the page layout and resolution for screen size. The same e...
Kale Logistics Solutions a leading global IT solutions provider focused on providing cutting edge technology solutions to the logistics industry has increased its international presence with a new a customer service and business development centre at the Dubai World Central Dubai. The new centre will enable a deeper engagement for Kale with the logistics industry stakeholders in the region the company said. Logistics and transportation industry has been witnessing an interesting transformation. Technology in logistics is changing the way the world does business. Kale Logistics Solutions has been enabling more than 2000 of its clients globally to connect and do business digitally the company said in a statement. Amar More director Kale Info Solutions DWC said: We continue to expand our footprint globally and specifically in Middle East. Dubai offers extremely lucrative opportunities for companies to take adv...
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Kale Logistics Solutions a leading global IT solutions provider focused on providing cutting edge technology solutions to the logistics industry has increased its international presence with a new a customer service and business development centre at the Dubai World Central Dubai. The new centre will enable a deeper engagement for Kale with the logistics industry stakeholders in the region the company said. Logistics and transportation industry has been witnessing an interesting transformation. Technology in logistics is changing the way the world does business. Kale Logistics Solutions has been enabling more than 2000 of its clients globally to connect and do business digitally the company said in a statement. Amar More director Kale Info Solutions DWC said: We continue to expand our footprint globally and specifically in Middle East. Dubai offers extremely lucrative opportunities for companies to take adv...
Fontana Real Estate the developer of Fontana Infinity has signed up as a Silver Sponsor of the Gulf Property Show 2017 to be held in Bahrain next month. Gulf Property Show a boutique showcase for the real estate and property development sectors will be held under the patronage of HRH Prince Khalifa bin Salman Al Khalifa Prime Minister of Bahrain from April 25 to 27 at the Bahrain International Exhibition and Convention Centre. We have seized the opportunity to join the Gulf Property Show 2017 as Silver category sponsors. The show is rightly considered as Bahrain s premier real estate event. For us at Fontana our debut will seek to take advantage of the quality visitor base of buyers and investors that visit the show said Eman Al Mannai business development general manager Royal Ambassador Property Management. Fontana Infinity is located at King Faisal Highway Al Fateh district in Juffair. The property overlooks Bahrain&rsq...
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Fontana Real Estate the developer of Fontana Infinity has signed up as a Silver Sponsor of the Gulf Property Show 2017 to be held in Bahrain next month. Gulf Property Show a boutique showcase for the real estate and property development sectors will be held under the patronage of HRH Prince Khalifa bin Salman Al Khalifa Prime Minister of Bahrain from April 25 to 27 at the Bahrain International Exhibition and Convention Centre. We have seized the opportunity to join the Gulf Property Show 2017 as Silver category sponsors. The show is rightly considered as Bahrain s premier real estate event. For us at Fontana our debut will seek to take advantage of the quality visitor base of buyers and investors that visit the show said Eman Al Mannai business development general manager Royal Ambassador Property Management. Fontana Infinity is located at King Faisal Highway Al Fateh district in Juffair. The property overlooks Bahrain&rsq...
Development projects in Qatar s ambitious Logistics Areas Project in the southern region are expected to attract QR 30 billion ( 8.24 billion) in direct investments a report said. The area will become a regional hub for investments and logistics services increasing the competitiveness in the trade sector and encouraging the private sector to participate effectively in the Qatar National Vision 2030 said the QNA report. The Logistics Areas Project is one of Qatar government s largest projects and includes 1 583 pieces of land on an area of 6 330 907 sq m. The project has a strategic dimension to it as it is located close to the Hamad Port the Mesaieed Industrial Port and the Orbital Highway. The project will provide many logistics services including: assembly processing open storage spaces various storage facilities (refrigerated warehouses frozen stores dry stores) exhibitions shops and commerci...
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Development projects in Qatar s ambitious Logistics Areas Project in the southern region are expected to attract QR 30 billion ( 8.24 billion) in direct investments a report said. The area will become a regional hub for investments and logistics services increasing the competitiveness in the trade sector and encouraging the private sector to participate effectively in the Qatar National Vision 2030 said the QNA report. The Logistics Areas Project is one of Qatar government s largest projects and includes 1 583 pieces of land on an area of 6 330 907 sq m. The project has a strategic dimension to it as it is located close to the Hamad Port the Mesaieed Industrial Port and the Orbital Highway. The project will provide many logistics services including: assembly processing open storage spaces various storage facilities (refrigerated warehouses frozen stores dry stores) exhibitions shops and commerci...
Jordanian government s tax breaks and competitive offers from the kingdom s developers have resulted in a stable sales market despite oversupply of housing units according to leading real estate consultancy Asteco. Prospective buyers in Jordan are taking a cautious approach to investing by seeking out smaller units offering the best value for money stated Asteco in its latest report. To motivate buyers both the government and developers have put several incentives in place to alleviate the oversupply the market witnessed in 2016. In line with these efforts prices have remained stable throughout the year and over the quarter but resulted in a reduction in transaction levels according to the Asteco Jordan Real Estate Q4 2016 report. The oversupply in the residential sales market has put pressure on developers to be more competitive to sell their properties while the government has introduced new tax sav...
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Jordanian government s tax breaks and competitive offers from the kingdom s developers have resulted in a stable sales market despite oversupply of housing units according to leading real estate consultancy Asteco. Prospective buyers in Jordan are taking a cautious approach to investing by seeking out smaller units offering the best value for money stated Asteco in its latest report. To motivate buyers both the government and developers have put several incentives in place to alleviate the oversupply the market witnessed in 2016. In line with these efforts prices have remained stable throughout the year and over the quarter but resulted in a reduction in transaction levels according to the Asteco Jordan Real Estate Q4 2016 report. The oversupply in the residential sales market has put pressure on developers to be more competitive to sell their properties while the government has introduced new tax sav...
Saudi Arabia s top 10 construction projects - including the iconic 1-km-tall Jeddah Tower - are worth a collective 92 billion said a report. Religious facilities entertainment venues and new housing developments are all part of the mega projects that are getting international attention and driving the construction market forward in 2017 according to a BNC Report on Ongoing Mega Projects commissioned by The Big 5 Saudi 2017 the kingdom s premier construction event. Taking an in-depth look at current developments in the Saudi market the urban construction and transport sectors constitute approximately 68 per cent of the total projects value in the country estimated at 700 billion. While exploring key prospects and developments within the local construction industry the event organisers dmg events Middle East Asia & Africa released a report on the country s Top 10 Mega Projects. ...
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Saudi Arabia s top 10 construction projects - including the iconic 1-km-tall Jeddah Tower - are worth a collective 92 billion said a report. Religious facilities entertainment venues and new housing developments are all part of the mega projects that are getting international attention and driving the construction market forward in 2017 according to a BNC Report on Ongoing Mega Projects commissioned by The Big 5 Saudi 2017 the kingdom s premier construction event. Taking an in-depth look at current developments in the Saudi market the urban construction and transport sectors constitute approximately 68 per cent of the total projects value in the country estimated at 700 billion. While exploring key prospects and developments within the local construction industry the event organisers dmg events Middle East Asia & Africa released a report on the country s Top 10 Mega Projects. ...
ENBD REIT a shari a compliant real estate investment trust managed by Emirates NBD Asset Management has announced plans to proceed with the listing of its shares on Nasdaq Dubai the region s international financial exchange. This will be the second real estate investment trust (REIT) to be listed on a Emirati bourse it said. ENBD REIT said it will first apply for admission of its ordinary shares to the official list of securities of the Dubai Financial Services Authority and to trading on Nasdaq Dubai. The investment assets of ENBD REIT have been re-domiciled to the DIFC from the Jersey Channel Islands open-ended real estate fund Emirates Real Estate Fund (Jersey Fund) which was originally established in 2005 it added. On the listing Tariq Bin Hendi the director of ENBD REIT said: This will be only the second real estate investment trust to be listed on a UAE stock exchange and it is the opini...
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ENBD REIT a shari a compliant real estate investment trust managed by Emirates NBD Asset Management has announced plans to proceed with the listing of its shares on Nasdaq Dubai the region s international financial exchange. This will be the second real estate investment trust (REIT) to be listed on a Emirati bourse it said. ENBD REIT said it will first apply for admission of its ordinary shares to the official list of securities of the Dubai Financial Services Authority and to trading on Nasdaq Dubai. The investment assets of ENBD REIT have been re-domiciled to the DIFC from the Jersey Channel Islands open-ended real estate fund Emirates Real Estate Fund (Jersey Fund) which was originally established in 2005 it added. On the listing Tariq Bin Hendi the director of ENBD REIT said: This will be only the second real estate investment trust to be listed on a UAE stock exchange and it is the opini...
Saudi Arabian investors have emerged as second biggest players in Dubai s real estate sector among the Gulf states with 3 294 transactions worth Dh8 billion ( 2.17 billion) last year according to a report issued by Dubai Land Department (DLD). The statistics demonstrate an annual growth in the real estate investment in Dubai by GCC investors particularly from Saudi Arabia it stated. Saudi Arabian investors occupy the second position among the non-local real estate investors in Dubai while the Indian investors with Dh12 billion ( 3.2 billion) worth of property transactions topped the list. They led the way both in terms of volume and value last year said the DLD report. The Saudi investments in Dubai s real estate market are governed by quantitative and qualitative investments stated Walid Farghal the director general Strategic Marketing & Exhibitions organisers of International Property Show (IPS) which ...
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Saudi Arabian investors have emerged as second biggest players in Dubai s real estate sector among the Gulf states with 3 294 transactions worth Dh8 billion ( 2.17 billion) last year according to a report issued by Dubai Land Department (DLD). The statistics demonstrate an annual growth in the real estate investment in Dubai by GCC investors particularly from Saudi Arabia it stated. Saudi Arabian investors occupy the second position among the non-local real estate investors in Dubai while the Indian investors with Dh12 billion ( 3.2 billion) worth of property transactions topped the list. They led the way both in terms of volume and value last year said the DLD report. The Saudi investments in Dubai s real estate market are governed by quantitative and qualitative investments stated Walid Farghal the director general Strategic Marketing & Exhibitions organisers of International Property Show (IPS) which ...
Oman s Special Economic Zone Authority in Duqm (Sezad) had last year attracted a record RO681 million ( 1.76 billion) in investments for major real estate and hospitality projects said a report. This underscores the emerging industrial hub s strong appeal as a tourism destination as well reported Oman Observer . In contrast industrial investments totaled around RO187.6 million ( 487 million) during the year stated the report. However the figure does not include potentially sizable investments likely to pour into an ambitious Chinese Industrial City a usufruct agreement for which was signed last year it added. In all 13 usufruct agreements were signed last year for various hotel resort hospitality and real estate developments at the SEZ according to the report. Among these the most prominent one was a RO390 million ( 1.09 billion) mixed-use project backed by well-known developer...
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Oman s Special Economic Zone Authority in Duqm (Sezad) had last year attracted a record RO681 million ( 1.76 billion) in investments for major real estate and hospitality projects said a report. This underscores the emerging industrial hub s strong appeal as a tourism destination as well reported Oman Observer . In contrast industrial investments totaled around RO187.6 million ( 487 million) during the year stated the report. However the figure does not include potentially sizable investments likely to pour into an ambitious Chinese Industrial City a usufruct agreement for which was signed last year it added. In all 13 usufruct agreements were signed last year for various hotel resort hospitality and real estate developments at the SEZ according to the report. Among these the most prominent one was a RO390 million ( 1.09 billion) mixed-use project backed by well-known developer...
Following a stellar performance in December the real estate market softened in January as monthly sales fell back below KD200 million ( 660.4 million) according to a report. The value of sales decreased to KD179.5 million lagging last year s performance by 16 per cent stated the National Bank of Kuwait in its monthly review. This was despite a slight pickup in transaction volumes which rose by 2 per cent year-on-year (y/y). January s price performance as reflected in NBK s real estate price indices indicated further stabilization in the residential sector and convergence of trends across sectors. According to NBK the residential sector sales were steady remaining close to the 2016 monthly average. January KD sales totaled KD 78.4 million on 240 transactions. KD sales and transactions were both down 13 per cent and 4 per cent y/y respectively. A third of the transa...
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Following a stellar performance in December the real estate market softened in January as monthly sales fell back below KD200 million ( 660.4 million) according to a report. The value of sales decreased to KD179.5 million lagging last year s performance by 16 per cent stated the National Bank of Kuwait in its monthly review. This was despite a slight pickup in transaction volumes which rose by 2 per cent year-on-year (y/y). January s price performance as reflected in NBK s real estate price indices indicated further stabilization in the residential sector and convergence of trends across sectors. According to NBK the residential sector sales were steady remaining close to the 2016 monthly average. January KD sales totaled KD 78.4 million on 240 transactions. KD sales and transactions were both down 13 per cent and 4 per cent y/y respectively. A third of the transa...
KBW Investments a UAE-based portfolio group active in key sectors including construction manufacturing and engineering has announced the launch of Crestmount Capital its premier flagship Sharia-compliant real estate investment fund (REIF). KBW Investments a company set up by chairman Prince Khaled bin Alwaleed bin Talal said the launch of Crestmount Capital (Crestmount) was dedicated exclusively to the Islamic finance sector. Crestmount Capital is KBW s flagship entry into the Islamic finance segment. Having explored a variety of investment vehicles and types the company s interest has now increasingly turned to activating our existing strengths in finance to work for the advantage of the sophisticated Islamic investor remarked Prince Khaled. In tandem with the launch the Dubai-based company has rolled out its new Crestmount Fund I a ...
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KBW Investments a UAE-based portfolio group active in key sectors including construction manufacturing and engineering has announced the launch of Crestmount Capital its premier flagship Sharia-compliant real estate investment fund (REIF). KBW Investments a company set up by chairman Prince Khaled bin Alwaleed bin Talal said the launch of Crestmount Capital (Crestmount) was dedicated exclusively to the Islamic finance sector. Crestmount Capital is KBW s flagship entry into the Islamic finance segment. Having explored a variety of investment vehicles and types the company s interest has now increasingly turned to activating our existing strengths in finance to work for the advantage of the sophisticated Islamic investor remarked Prince Khaled. In tandem with the launch the Dubai-based company has rolled out its new Crestmount Fund I a ...
The market for energy performance contracting in the UAE is poised for grow 17 per cent in the next four to five years thanks to a major push in the region for developent of both renewable energy and energy efficient policies said a report. Energy Performance Contracting is a form of creative financing for capital improvement. It is a self-funding financing mechanism that provides infrastructure improvements energy and water savings monitoring and verification of effectiveness training maintenance and environmental benefits. The sector which was worth 80 to 100 million in 2015 is expected to register a CAGR (compound annual growth rate) of 15-17 per cent by 2021-22 according to an analysis by Frost & Sullivan a global growth consulting firm. The GCC is at an interesting juncture as the economic and social initiatives driving the transition towards energy efficiency have never been stronger stated Frost & Sul...
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The market for energy performance contracting in the UAE is poised for grow 17 per cent in the next four to five years thanks to a major push in the region for developent of both renewable energy and energy efficient policies said a report. Energy Performance Contracting is a form of creative financing for capital improvement. It is a self-funding financing mechanism that provides infrastructure improvements energy and water savings monitoring and verification of effectiveness training maintenance and environmental benefits. The sector which was worth 80 to 100 million in 2015 is expected to register a CAGR (compound annual growth rate) of 15-17 per cent by 2021-22 according to an analysis by Frost & Sullivan a global growth consulting firm. The GCC is at an interesting juncture as the economic and social initiatives driving the transition towards energy efficiency have never been stronger stated Frost & Sul...
Dentons one of the world s largest law firms has announced that Alastair Young an industry veteran has joined the Middle East Construction and Dispute Resolution practice in Dubai UAE. Alastair recently relocated from Dentons London office where he was based since joining the firm in 2011. Alastair will initially lead Dentons UAE Disputes practice and then the wider Middle East Disputes practice from May 1. Dual qualified both as a barrister (since 1996) and as a solicitor (since 2007) he has been practising in the Middle East while based in the UK since 2007 and has a wealth of experience acting for international companies operating in the region. Alastair has extensive experience of all forms of dispute resolution including litigation in the UK s Technology and Construction Court statutory/contractual adjudication alternative dispute resolution (ADR) (including mediation and expert determinati...
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Dentons one of the world s largest law firms has announced that Alastair Young an industry veteran has joined the Middle East Construction and Dispute Resolution practice in Dubai UAE. Alastair recently relocated from Dentons London office where he was based since joining the firm in 2011. Alastair will initially lead Dentons UAE Disputes practice and then the wider Middle East Disputes practice from May 1. Dual qualified both as a barrister (since 1996) and as a solicitor (since 2007) he has been practising in the Middle East while based in the UK since 2007 and has a wealth of experience acting for international companies operating in the region. Alastair has extensive experience of all forms of dispute resolution including litigation in the UK s Technology and Construction Court statutory/contractual adjudication alternative dispute resolution (ADR) (including mediation and expert determinati...
The increase in affordable housing in Dubai is having a negative effect on rents in the Northern Emirates according to the latest report from real estate consultancy Asteco. The average rent levels declined marginally during Q4 2016 in the Northern Emirates with Sharjah Ajman and Fujairah witnessing decreases of 1 per cent on average stated Asteco in its Northern Emirates Real Estate Report Q4 2016. John Stevens the managing director Asteco said: We could see further declines in 2017 if the supply of affordable property continues to stifle demand in the Northern Emirates. Sharjah and Ajman are expected to experience more downward pressure on rates in comparison to Ras Al Khaimah and Umm Al Quwain. Over the year (2016) apartment rents in Sharjah fell 3 per cent on average with a typical one-bedroom apartment renting for around Dh31 000 per annum. This was not helped by the Sharjah Municipality s decision in Q3 2016 to...
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The increase in affordable housing in Dubai is having a negative effect on rents in the Northern Emirates according to the latest report from real estate consultancy Asteco. The average rent levels declined marginally during Q4 2016 in the Northern Emirates with Sharjah Ajman and Fujairah witnessing decreases of 1 per cent on average stated Asteco in its Northern Emirates Real Estate Report Q4 2016. John Stevens the managing director Asteco said: We could see further declines in 2017 if the supply of affordable property continues to stifle demand in the Northern Emirates. Sharjah and Ajman are expected to experience more downward pressure on rates in comparison to Ras Al Khaimah and Umm Al Quwain. Over the year (2016) apartment rents in Sharjah fell 3 per cent on average with a typical one-bedroom apartment renting for around Dh31 000 per annum. This was not helped by the Sharjah Municipality s decision in Q3 2016 to...
Motor City the leading commercial distributor in Bahrain has signed up as a major sponsor for Gulf Construction Expo 2017 (formerly Gulf Bid) the Northern Gulf s showcase for the building and construction sector. The international expo will run from April 25 to 27 at the Bahrain International Exhibition and Convention Centre under the patronage of HRH Prime Minister Prince Khalifa Bin Salman Al Khalifa said the event organisers Hilal Conferences and Exhibition (HCE). Motor City is the sole distributor for Hyundai Heavy Industries (HHI) the world s largest shipbuilder and manufacturer of plant and machinery. An agreement was signed by Dr Bijan Majidi the senior general manager of Motor City and Jubran Abdulrahman the managing director of HCE to cement the partnership. Hyundai product line up will form a major feature of the Motor City stand at Gulf Construction Expo. The Hyundai Heavy Indu...
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Motor City the leading commercial distributor in Bahrain has signed up as a major sponsor for Gulf Construction Expo 2017 (formerly Gulf Bid) the Northern Gulf s showcase for the building and construction sector. The international expo will run from April 25 to 27 at the Bahrain International Exhibition and Convention Centre under the patronage of HRH Prime Minister Prince Khalifa Bin Salman Al Khalifa said the event organisers Hilal Conferences and Exhibition (HCE). Motor City is the sole distributor for Hyundai Heavy Industries (HHI) the world s largest shipbuilder and manufacturer of plant and machinery. An agreement was signed by Dr Bijan Majidi the senior general manager of Motor City and Jubran Abdulrahman the managing director of HCE to cement the partnership. Hyundai product line up will form a major feature of the Motor City stand at Gulf Construction Expo. The Hyundai Heavy Indu...
Nakheel one of the world s leading developers said it has received three contruction proposals for its new retail dining and entertainment hub to be built at Deira Islands in Dubai UAE. These proposals were submitted ahead of the February 20 deadline with lowest bid starting from Dh4.2 billion ( 1.14 billion) said a statement from the company. Deira Mall will be located at the heart of Deira Islands Nakheel s new 15.3 sq km waterfront master community that will contribute to Dubai s 2021 vision by transforming the area traditionally known as Old Dubai into a world-class hub for retail tourism living and leisure. With four million sq ft of leasable space the upcoming retail destination will feature over 1 000 shops cafes restaurants and entertainment outlets across three floors. A state-of-the art atrium will have retractable roofs to bring natural light into the complex and all...
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Nakheel one of the world s leading developers said it has received three contruction proposals for its new retail dining and entertainment hub to be built at Deira Islands in Dubai UAE. These proposals were submitted ahead of the February 20 deadline with lowest bid starting from Dh4.2 billion ( 1.14 billion) said a statement from the company. Deira Mall will be located at the heart of Deira Islands Nakheel s new 15.3 sq km waterfront master community that will contribute to Dubai s 2021 vision by transforming the area traditionally known as Old Dubai into a world-class hub for retail tourism living and leisure. With four million sq ft of leasable space the upcoming retail destination will feature over 1 000 shops cafes restaurants and entertainment outlets across three floors. A state-of-the art atrium will have retractable roofs to bring natural light into the complex and all...
With the fallout from low oil prices and continued currency woes it is no surprise that 2016 was a tough year for the UAE s real estate market according to leading ratings agency S&P. Dubai s residential prices dropped by 8 to 11 per cent on average and rent fell by six per cent according to Reidin.com with most areas of the city affected. The strength of the dollar is also making the UAE increasingly expensive for tourists and low oil prices in 2016 have diminished purchasing power and weakened investor sentiment said the S&P Global Ratings in its report Another Tough Year For UAE Real Estate Market Amid Currency Woes published today. The pound declined by 17 per cent versus the US dollar in the past 12 months due to Brexit fears it stated. The evolution of the pound remains a concern for the UAE as the UK is traditionally among the top three source markets for visitors to Dubai ...
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With the fallout from low oil prices and continued currency woes it is no surprise that 2016 was a tough year for the UAE s real estate market according to leading ratings agency S&P. Dubai s residential prices dropped by 8 to 11 per cent on average and rent fell by six per cent according to Reidin.com with most areas of the city affected. The strength of the dollar is also making the UAE increasingly expensive for tourists and low oil prices in 2016 have diminished purchasing power and weakened investor sentiment said the S&P Global Ratings in its report Another Tough Year For UAE Real Estate Market Amid Currency Woes published today. The pound declined by 17 per cent versus the US dollar in the past 12 months due to Brexit fears it stated. The evolution of the pound remains a concern for the UAE as the UK is traditionally among the top three source markets for visitors to Dubai ...
Bahri a global leader in logistics and transportation has signed a contract with Saudi Rail Company (SAR) for the provision of transportation and shipping services from around the world as well as customs clearance support through Bahri Logistics one of the six business units of Bahri. The agreement was signed by Khalid Abdulrahman Abanami the chief financial officier and designate executive VP (Common Services) SAR and Ahmed Mohammed Al-Ghaith the president of Bahri Logistics in the presence of Wael Al-Sarhan VP (Marketing and Communications) Bahri Abdulrahman Alghamdi the director of Procurement and Contracts SAR and other officials. As per the agreement Bahri Logistics will provide SAR with transportation and shipping services for all types of cargo and an electronic system to track all shipments from the country of origin to the final destination in warehouses or worksites of the company besides making necessary arrangements with the c...
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Bahri a global leader in logistics and transportation has signed a contract with Saudi Rail Company (SAR) for the provision of transportation and shipping services from around the world as well as customs clearance support through Bahri Logistics one of the six business units of Bahri. The agreement was signed by Khalid Abdulrahman Abanami the chief financial officier and designate executive VP (Common Services) SAR and Ahmed Mohammed Al-Ghaith the president of Bahri Logistics in the presence of Wael Al-Sarhan VP (Marketing and Communications) Bahri Abdulrahman Alghamdi the director of Procurement and Contracts SAR and other officials. As per the agreement Bahri Logistics will provide SAR with transportation and shipping services for all types of cargo and an electronic system to track all shipments from the country of origin to the final destination in warehouses or worksites of the company besides making necessary arrangements with the c...
Manazel Real Estate a leading UAE developer said its net profit rose 5.6 per cent to Dh206.5 million from Dh195 million the previous year mainly driven by successful restructuring and diversification strategy. Announcing its results for the twelve months ended December 31 2016 Manazel said it delivered higher consolidated revenues for the period at Dh749 million compared to Dh740 million in 2015 driven by the construction progress and successful sales of 90 per cent of the Al Reef-2 project. This success underpins the company s business and growth strategy and with accelerated construction underway the project is expected to deliver its first phase in 2017 stated the developer. Diversity in the company s projects the support of subsidiaries revenues commercial and residential properties cooling and its subsidiaries have all contributed to revenue stability as part of Manazel s long term strategy to dive...
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Manazel Real Estate a leading UAE developer said its net profit rose 5.6 per cent to Dh206.5 million from Dh195 million the previous year mainly driven by successful restructuring and diversification strategy. Announcing its results for the twelve months ended December 31 2016 Manazel said it delivered higher consolidated revenues for the period at Dh749 million compared to Dh740 million in 2015 driven by the construction progress and successful sales of 90 per cent of the Al Reef-2 project. This success underpins the company s business and growth strategy and with accelerated construction underway the project is expected to deliver its first phase in 2017 stated the developer. Diversity in the company s projects the support of subsidiaries revenues commercial and residential properties cooling and its subsidiaries have all contributed to revenue stability as part of Manazel s long term strategy to dive...
Dubai Land Department (DLD) said it has signed an MoU with Nasdaq Dubai to facilitate the listing of companies that are active in the real estate sector as well as real estate-related asset classes in the emirate. The MoU includes the operation of a channel to streamline communications between DLD and Nasdaq Dubai regarding administrative matters which may provide useful support for entities that are considering listing or are already listed. Nasdaq Dubai listings include a number of issuances by companies that have substantial interests in the real estate sector. DLD director general Sultan Butti Bin Mejren said: We are delighted to announce this collaboration that is in line with our vision to position Dubai as the world s premier real estate destination and a byword for innovation trust and happiness. Our work with Nasdaq Dubai will inevitably support the aspirations of the private sect...
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Dubai Land Department (DLD) said it has signed an MoU with Nasdaq Dubai to facilitate the listing of companies that are active in the real estate sector as well as real estate-related asset classes in the emirate. The MoU includes the operation of a channel to streamline communications between DLD and Nasdaq Dubai regarding administrative matters which may provide useful support for entities that are considering listing or are already listed. Nasdaq Dubai listings include a number of issuances by companies that have substantial interests in the real estate sector. DLD director general Sultan Butti Bin Mejren said: We are delighted to announce this collaboration that is in line with our vision to position Dubai as the world s premier real estate destination and a byword for innovation trust and happiness. Our work with Nasdaq Dubai will inevitably support the aspirations of the private sect...
Toshiba Corporation has started construction of a new state-of-the-art semiconductor fabrication facility Fab 6 and a new R&D center the Memory R&D Center at Yokkaichi Operations in Mie prefecture Japan the company s main memory production base. Fab 6 will be dedicated to production of BiCS FLASH Toshiba s innovative 3D Flash memory. Like Fab 5 construction will take place in two phases allowing the pace of investment to be optimised against market trends with completion of Phase 1 scheduled for summer 2018. Toshiba will determine installed capacity and output targets and schedules by closely monitoring the market the company said. Toshiba will also construct a Memory R&D Center adjacent to the new fab with completion targeting December 2017. The facility will advance development of BiCS FLASH and new memories. Toshiba is determined to enhance its competitiveness in the memory business by timely expansion of BiCS FLASH p...
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Toshiba Corporation has started construction of a new state-of-the-art semiconductor fabrication facility Fab 6 and a new R&D center the Memory R&D Center at Yokkaichi Operations in Mie prefecture Japan the company s main memory production base. Fab 6 will be dedicated to production of BiCS FLASH Toshiba s innovative 3D Flash memory. Like Fab 5 construction will take place in two phases allowing the pace of investment to be optimised against market trends with completion of Phase 1 scheduled for summer 2018. Toshiba will determine installed capacity and output targets and schedules by closely monitoring the market the company said. Toshiba will also construct a Memory R&D Center adjacent to the new fab with completion targeting December 2017. The facility will advance development of BiCS FLASH and new memories. Toshiba is determined to enhance its competitiveness in the memory business by timely expansion of BiCS FLASH p...
The Saudi real estate industry is poised to witness solid growth and development in the coming years thanks to the new legislations on mortgage reforms the new building code system for the kingdom and the white land tax plan said an expert. The current economic trends and surgical budget trims by the consumers have recently impacted the kingdom s real estate market according to the Saudi Economic and Development Company (Sedco). A leading private wealth management organisation in the kingdom Sedco conducts its business according to Islamic guidelines widely known as Shari ah. Sedco Holding Group manages a broad variety of asset classes in real estate. Its diversified portfolio includes shopping centers hotels residential communities office buildings industrial spaces and raw land in the kingdom s major cities. The big cheer from the home buyers stated the company is the recent mortgage reform a...
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The Saudi real estate industry is poised to witness solid growth and development in the coming years thanks to the new legislations on mortgage reforms the new building code system for the kingdom and the white land tax plan said an expert. The current economic trends and surgical budget trims by the consumers have recently impacted the kingdom s real estate market according to the Saudi Economic and Development Company (Sedco). A leading private wealth management organisation in the kingdom Sedco conducts its business according to Islamic guidelines widely known as Shari ah. Sedco Holding Group manages a broad variety of asset classes in real estate. Its diversified portfolio includes shopping centers hotels residential communities office buildings industrial spaces and raw land in the kingdom s major cities. The big cheer from the home buyers stated the company is the recent mortgage reform a...
Marsh a global leader in insurance broking and risk management explored the unique set of risks associated with construction and operation of tall buildings at a key summit in Dubai UAE. Marsh 2017 Infrastructure Risk Management Forum was this year held under the theme From Risk to Resilience in the Infrastructure Industry: Assessing the Challenges and Opportunities in Emerging Infrastructure Risks. The one-day event held at The Ritz-Carlton Dubai yielded a positive response from the delegates said a statement from Marsh. The forum focused upon on a hotly-anticipated report Sky High Risks: Managing Tall Building Exposures which discusses mitigation strategies to protect brand and reputation as well as insights into how building regulations will evolve in the near term. Gaurav Bhatnagar the head of specialties for Middle East and North Africa (Mena) at Marsh said: This year s forum...
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Marsh a global leader in insurance broking and risk management explored the unique set of risks associated with construction and operation of tall buildings at a key summit in Dubai UAE. Marsh 2017 Infrastructure Risk Management Forum was this year held under the theme From Risk to Resilience in the Infrastructure Industry: Assessing the Challenges and Opportunities in Emerging Infrastructure Risks. The one-day event held at The Ritz-Carlton Dubai yielded a positive response from the delegates said a statement from Marsh. The forum focused upon on a hotly-anticipated report Sky High Risks: Managing Tall Building Exposures which discusses mitigation strategies to protect brand and reputation as well as insights into how building regulations will evolve in the near term. Gaurav Bhatnagar the head of specialties for Middle East and North Africa (Mena) at Marsh said: This year s forum...
Manazel Real Estate a leading UAE developer has announced plans to launch a major real estate project at Ghantoot a coastal area situated between the emirates of Dubai and Abu Dhabi. A sharia-complaint real estate company listed on Abu Dhabi Securities Exchange (ADX) Manazel has become a leading developer of quality homes for the UAE s middle income segment. Mohamed Mehanna Al Qubaisi the chairman of Manazel Real Estate said: I am delighted to announce this major new project which reflects our on-going growth momentum and supports the growth strategy of Abu Dhabi s Vision 2030. We continue to develop and deliver innovative and high quality real estate projects which are in demand from both UAE citizens and residents but also from customers from across the wider region stated Al Qubaisi. Our planned project in Ghantoot will appeal to customers who are interested in high q...
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Manazel Real Estate a leading UAE developer has announced plans to launch a major real estate project at Ghantoot a coastal area situated between the emirates of Dubai and Abu Dhabi. A sharia-complaint real estate company listed on Abu Dhabi Securities Exchange (ADX) Manazel has become a leading developer of quality homes for the UAE s middle income segment. Mohamed Mehanna Al Qubaisi the chairman of Manazel Real Estate said: I am delighted to announce this major new project which reflects our on-going growth momentum and supports the growth strategy of Abu Dhabi s Vision 2030. We continue to develop and deliver innovative and high quality real estate projects which are in demand from both UAE citizens and residents but also from customers from across the wider region stated Al Qubaisi. Our planned project in Ghantoot will appeal to customers who are interested in high q...
Equitativa an UAE-based asset management firm said it has joined hands with Al Hamra Real Estate Development and National Bonds Corporation to launch the first residential real estate investment trust (REIT) in the UAE. The Residential REIT established and managed by Equitativa is incorporated in the Abu Dhabi Global Market (ADGM) and regulated by the Financial Services Regulatory Authority. It is a Shari ah compliant Real Estate Investment Trust which distributes at least 80 per cent of its net income to shareholders. Equitativa expects to raise further funds allowing the REIT to buildup a large portfolio in order to prepare for an IPO. The UAE s first Real Estate Investment Trust (REIT) featuring only residential properties has come into being with a seed portfolio of Dh418 million ( 113 million) said a senior official. The Residential REIT s founding shareholders are Al Hamra Real E...
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Equitativa an UAE-based asset management firm said it has joined hands with Al Hamra Real Estate Development and National Bonds Corporation to launch the first residential real estate investment trust (REIT) in the UAE. The Residential REIT established and managed by Equitativa is incorporated in the Abu Dhabi Global Market (ADGM) and regulated by the Financial Services Regulatory Authority. It is a Shari ah compliant Real Estate Investment Trust which distributes at least 80 per cent of its net income to shareholders. Equitativa expects to raise further funds allowing the REIT to buildup a large portfolio in order to prepare for an IPO. The UAE s first Real Estate Investment Trust (REIT) featuring only residential properties has come into being with a seed portfolio of Dh418 million ( 113 million) said a senior official. The Residential REIT s founding shareholders are Al Hamra Real E...
Construction work on IKEA Bahrain store is on track for completion in the second quarter of 2018 a senior official has said. Since its groundbreaking ceremony in October last year Bahrain-based Kooheji Contractors who have over 40 years of experience in construction civil engineering and design services in the Mena region have taken charge of the project. Fruto Hernandez IKEA Saudi Arabia expansion manager said: The main works contract has been awarded to Kooheji Contractors whose construction experience expands across a variety of industries. The enabling and foundation works of IKEA Bahrain are complete and the main work has started. Right now we are continuing with the slab works water proofing underground piping and precast order which are in progress. Our aim is for the store to be completed by the second quarter of 2018 he added. Construction will culminate in the second quarter of 20...
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Construction work on IKEA Bahrain store is on track for completion in the second quarter of 2018 a senior official has said. Since its groundbreaking ceremony in October last year Bahrain-based Kooheji Contractors who have over 40 years of experience in construction civil engineering and design services in the Mena region have taken charge of the project. Fruto Hernandez IKEA Saudi Arabia expansion manager said: The main works contract has been awarded to Kooheji Contractors whose construction experience expands across a variety of industries. The enabling and foundation works of IKEA Bahrain are complete and the main work has started. Right now we are continuing with the slab works water proofing underground piping and precast order which are in progress. Our aim is for the store to be completed by the second quarter of 2018 he added. Construction will culminate in the second quarter of 20...
Average daily real estate dealings in Bahrain reached BD5 million ( 13.1 million) and sometimes BD7 million in January reported the Gulf Daily News our sister publication. To read further please visit GDNonline . ...
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Average daily real estate dealings in Bahrain reached BD5 million ( 13.1 million) and sometimes BD7 million in January reported the Gulf Daily News our sister publication. To read further please visit GDNonline . ...
Dubai Land Department (DLD) has signed a Memorandum of Understanding (MoU) with Dubai Economic Council (DEC) to collaboratively prepare a detailed annual report on the prospects for the real estate sector in Dubai. The MoU for the report entitled The prospects for the Real Estate Sector in Dubai was signed by Sultan Bin Mejren director general of DLD and Hani Rashid Al Hamli secretary general of DEC. Bin Mejren said: This project is a progression of our long-standing and ongoing strategic partnership with Dubai Economic Council which has involved collaborating on several projects such as reports and studies on the real estate sector in Dubai and launching joint initiatives that aim to strengthen the role of the sector in Dubai s economy. We are pleased to be opening up new opportunities for cooperation with the Council which will enhance transparency in the real estate sector and help i...
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Dubai Land Department (DLD) has signed a Memorandum of Understanding (MoU) with Dubai Economic Council (DEC) to collaboratively prepare a detailed annual report on the prospects for the real estate sector in Dubai. The MoU for the report entitled The prospects for the Real Estate Sector in Dubai was signed by Sultan Bin Mejren director general of DLD and Hani Rashid Al Hamli secretary general of DEC. Bin Mejren said: This project is a progression of our long-standing and ongoing strategic partnership with Dubai Economic Council which has involved collaborating on several projects such as reports and studies on the real estate sector in Dubai and launching joint initiatives that aim to strengthen the role of the sector in Dubai s economy. We are pleased to be opening up new opportunities for cooperation with the Council which will enhance transparency in the real estate sector and help i...
Iraqi businessmen are in talks with Turkish companies to develop a 200-million real estate project at the high-security Green Zone in Baghdad said a report. Following a visit by the Turkish Prime Minister Binali Yıldırım to Iraq last week an Iraqi business delegation is now in Istanbul to boost bilateral trade ties and also discuss key business proposals reported Iraq Business News citing a senior official. The visit is vital for Iraq ana comes at a time when Turkey s exports to the country have plunged 50 per cent from 14 billion to 7 billion stated Tevfik Öz a member of the board of the Turkish-Iraqi Business Council. Another Turkish delegation may visit Iraq in the coming days to take the Green Zone project discussion forward he added. ...
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Iraqi businessmen are in talks with Turkish companies to develop a 200-million real estate project at the high-security Green Zone in Baghdad said a report. Following a visit by the Turkish Prime Minister Binali Yıldırım to Iraq last week an Iraqi business delegation is now in Istanbul to boost bilateral trade ties and also discuss key business proposals reported Iraq Business News citing a senior official. The visit is vital for Iraq ana comes at a time when Turkey s exports to the country have plunged 50 per cent from 14 billion to 7 billion stated Tevfik Öz a member of the board of the Turkish-Iraqi Business Council. Another Turkish delegation may visit Iraq in the coming days to take the Green Zone project discussion forward he added. ...
The global logistics market is expected to reach 15.5 trillion in revenue by 2024 while investments in industrial and retail projects lead to a spur in the domestic logistics industry according to a recent report by Al Masah Capital a leader in investments and market analysis. In terms of volume the global transportation and logistics (T&L) industry is expected to reach 92.1 billion tonnes by 2024 said the report. The report also mentioned that the global third party logistics (3PL) market is expected to grow at a compound annual growth rate (CAGR) of more than 5 per cent by 2020 it added. Factors such as the rapid globalisation increasing trade volume and the revival of the global economy are some of the major contributing factors to the growth of the 3PL market. The growth of integrators will increase demand for contract logistics services and will significantly contribute to the growth of the industry. br /...
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The global logistics market is expected to reach 15.5 trillion in revenue by 2024 while investments in industrial and retail projects lead to a spur in the domestic logistics industry according to a recent report by Al Masah Capital a leader in investments and market analysis. In terms of volume the global transportation and logistics (T&L) industry is expected to reach 92.1 billion tonnes by 2024 said the report. The report also mentioned that the global third party logistics (3PL) market is expected to grow at a compound annual growth rate (CAGR) of more than 5 per cent by 2020 it added. Factors such as the rapid globalisation increasing trade volume and the revival of the global economy are some of the major contributing factors to the growth of the 3PL market. The growth of integrators will increase demand for contract logistics services and will significantly contribute to the growth of the industry. br /...
The global economic anxiety and growth slowdown across regional markets has played a significant role in the decreased demand for industrial real estate in Dubai which in turn has led to capital value corrections in most of the emirate s submarkets according to international real estate consultancy Cluttons. The activity in the sector has curtailed despite it being amongst the most resilient in the emirate over the last two years stated Cluttons in its bi-annual Dubai Industrial Market Bulletin for Spring 2017. The research asserts that values are still perceived to be lean however and notes that some opportunistic purchasers are now making acquisitions in secondary submarkets. Faisal Durrani head of research at Cluttons said: Aside from a natural cyclical correction that was inevitable in the industrial market a surge in newly-completed warehouse space over the last year or two has prompted a flight to quality...
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The global economic anxiety and growth slowdown across regional markets has played a significant role in the decreased demand for industrial real estate in Dubai which in turn has led to capital value corrections in most of the emirate s submarkets according to international real estate consultancy Cluttons. The activity in the sector has curtailed despite it being amongst the most resilient in the emirate over the last two years stated Cluttons in its bi-annual Dubai Industrial Market Bulletin for Spring 2017. The research asserts that values are still perceived to be lean however and notes that some opportunistic purchasers are now making acquisitions in secondary submarkets. Faisal Durrani head of research at Cluttons said: Aside from a natural cyclical correction that was inevitable in the industrial market a surge in newly-completed warehouse space over the last year or two has prompted a flight to quality...
After witnessing a marginal growth in 2014 the Saudi Arabia s real estate prices have fallen to new lows for the past eight consecutive quarters due to weakness in the residential sector mainly plots and apartments said a report. In the case of commercial sector prices dropped at the aggregate level due to sharp decline in prices of plots whereas prices of building and commercial centres inched up during the past two years indicating continued demand for income generating commercial assets according to Saudi General Authority for Statistics. On a regional basis Al Baha Riyadh and Makkah regions saw the sharpest fall in real estate prices since 2014 stated the Authority after releasing a comprehensive price index for the kingdom s real estate sector calculated based on the data provided by the Ministry of Justice. Launching such a real estate price index will provide investors with one of the key inputs required while ...
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After witnessing a marginal growth in 2014 the Saudi Arabia s real estate prices have fallen to new lows for the past eight consecutive quarters due to weakness in the residential sector mainly plots and apartments said a report. In the case of commercial sector prices dropped at the aggregate level due to sharp decline in prices of plots whereas prices of building and commercial centres inched up during the past two years indicating continued demand for income generating commercial assets according to Saudi General Authority for Statistics. On a regional basis Al Baha Riyadh and Makkah regions saw the sharpest fall in real estate prices since 2014 stated the Authority after releasing a comprehensive price index for the kingdom s real estate sector calculated based on the data provided by the Ministry of Justice. Launching such a real estate price index will provide investors with one of the key inputs required while ...
GAC Sri Lanka has partnered with Hemas Transportation to build an integrated logistics facility in Muthurajawela Industrial Zone in the western part of Sri Lanka. The facility will comprise a state-of-the-art distribution centre a container yard and a 15-acre warehouse said a statement from the company. A ground-breaking ceremony attended by the Prime Minister of Sri Lanka Ranil Wickramasinghe was held yesterday (January 30) it said. The facility is expected to be operational by early June 2017 and the distribution centre by February 2018 it added. This new integrated logistics facility will be equipped with the latest reach stackers and will harness a cutting-edge IT platform aimed at innovating Sri Lanka s logistics system. It will consist of a modern container terminal with a capacity of 6 000 TEUs made up of seven high container stacking and a warehousing and distribution centre offering Third Party Logist...
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GAC Sri Lanka has partnered with Hemas Transportation to build an integrated logistics facility in Muthurajawela Industrial Zone in the western part of Sri Lanka. The facility will comprise a state-of-the-art distribution centre a container yard and a 15-acre warehouse said a statement from the company. A ground-breaking ceremony attended by the Prime Minister of Sri Lanka Ranil Wickramasinghe was held yesterday (January 30) it said. The facility is expected to be operational by early June 2017 and the distribution centre by February 2018 it added. This new integrated logistics facility will be equipped with the latest reach stackers and will harness a cutting-edge IT platform aimed at innovating Sri Lanka s logistics system. It will consist of a modern container terminal with a capacity of 6 000 TEUs made up of seven high container stacking and a warehousing and distribution centre offering Third Party Logist...
The organisers of Expo 2020 Dubai will award 47 construction contracts worth Dh11 billion ( 3 billion) in 2017 as preparations for the first World Expo in the Middle East Africa and South Asia continue to gather pace. Besides this another 98 non-construction contracts worth Dh360 million ( 98 million) will also be distributed by the end of the year. These will range from legal advisory services to event management and merchandising it stated. The construction contracts for 2017 which are open to local regional and international businesses include the third and final infrastructure package for the event s support areas such as car parking. Other key awards for the year ahead include the construction of the three Thematic Districts that will host the majority of the pavilions as well as the public areas and the design development and delivery of all temporary architecture and infrastructure required to stage the event...
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The organisers of Expo 2020 Dubai will award 47 construction contracts worth Dh11 billion ( 3 billion) in 2017 as preparations for the first World Expo in the Middle East Africa and South Asia continue to gather pace. Besides this another 98 non-construction contracts worth Dh360 million ( 98 million) will also be distributed by the end of the year. These will range from legal advisory services to event management and merchandising it stated. The construction contracts for 2017 which are open to local regional and international businesses include the third and final infrastructure package for the event s support areas such as car parking. Other key awards for the year ahead include the construction of the three Thematic Districts that will host the majority of the pavilions as well as the public areas and the design development and delivery of all temporary architecture and infrastructure required to stage the event...
HLG Contracting one of the leading diversified international contractors in the Middle East has been awarded a contract valued at Dh401 million ( 109 million) for the construction of Al Garhoud Towers by Hasabi Real Estate one of Dubai s leading development companies. Al Garhoud Towers will be located at Al Garhoud area near Dubai International Airport in Dubai UAE. As per the contract HLG operating as HLG Contracting will be responsible for the construction of three buildings which are conjoined through the single mezzanine floor comprising 100 serviced apartments in one building a 350-room three-star hotel in a second building and a 250-room four-star hotel in a third building. The project will also house a reception and lounge area food and beverage outlets and other communal amenities. Three basement levels will house car parking back-of-house facilities and mechanical electrical and plumbing (MEP) facilities. ...
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HLG Contracting one of the leading diversified international contractors in the Middle East has been awarded a contract valued at Dh401 million ( 109 million) for the construction of Al Garhoud Towers by Hasabi Real Estate one of Dubai s leading development companies. Al Garhoud Towers will be located at Al Garhoud area near Dubai International Airport in Dubai UAE. As per the contract HLG operating as HLG Contracting will be responsible for the construction of three buildings which are conjoined through the single mezzanine floor comprising 100 serviced apartments in one building a 350-room three-star hotel in a second building and a 250-room four-star hotel in a third building. The project will also house a reception and lounge area food and beverage outlets and other communal amenities. Three basement levels will house car parking back-of-house facilities and mechanical electrical and plumbing (MEP) facilities. ...
HLG Contracting has been awarded a contract valued at Dh401 million ( 109.18 million) for the construction of Al Garhoud Towers by Hasabi Real Estate one of Dubai s leading development companies. Al Garhoud Towers are located at Al Garhoud area near Dubai International Airport. HLG will be responsible for the construction of three buildings which are conjoined through the single mezzanine floor comprising 100 serviced apartments in one building a 350-room three-star hotel in a second building and a 250-room four-star hotel rooms in a third building. The project will also house a reception and lounge area food and beverage outlets and other communal amenities. Three basement levels will house car parking back-of-house facilities and MEP facilities. Construction will commence in February and is scheduled for completion in the third quarter of 2018. - TradeArabia News Service ...
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HLG Contracting has been awarded a contract valued at Dh401 million ( 109.18 million) for the construction of Al Garhoud Towers by Hasabi Real Estate one of Dubai s leading development companies. Al Garhoud Towers are located at Al Garhoud area near Dubai International Airport. HLG will be responsible for the construction of three buildings which are conjoined through the single mezzanine floor comprising 100 serviced apartments in one building a 350-room three-star hotel in a second building and a 250-room four-star hotel rooms in a third building. The project will also house a reception and lounge area food and beverage outlets and other communal amenities. Three basement levels will house car parking back-of-house facilities and MEP facilities. Construction will commence in February and is scheduled for completion in the third quarter of 2018. - TradeArabia News Service ...
Al Sawari Holding a leading construction company in Qatar said one of its subsidiaries Gettco Construction has been successfully certified with the prestigious ISO 9001:2015 ISO 14001:2015 & OHSAS 18001:2007 International Standards. A specialist in all sectors of construction Gettco provides full service capabilities for the turnkey development starting with industrial commercial and residential buildings and extending to infrastructure and sewage related works. Its capabilities include consulting planning permitting design and engineering procurement construction and commissioning said the company in a statement. The Integrated Management System certificates have been awarded by TNV UK with the support of Excelledia Quality Consulting it added. This is an acknowledgment of the company s commitment to quality health safety and environment towards its customers and stakeholders at large said a top ...
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Al Sawari Holding a leading construction company in Qatar said one of its subsidiaries Gettco Construction has been successfully certified with the prestigious ISO 9001:2015 ISO 14001:2015 & OHSAS 18001:2007 International Standards. A specialist in all sectors of construction Gettco provides full service capabilities for the turnkey development starting with industrial commercial and residential buildings and extending to infrastructure and sewage related works. Its capabilities include consulting planning permitting design and engineering procurement construction and commissioning said the company in a statement. The Integrated Management System certificates have been awarded by TNV UK with the support of Excelledia Quality Consulting it added. This is an acknowledgment of the company s commitment to quality health safety and environment towards its customers and stakeholders at large said a top ...
Bahrain jumped five spots in this year s Agility Emerging Markets Logistics Index taking 23rd place overall - the third largest leap of all the 50 emerging markets ranked in the report. The ranking upgrade is owing to an overall reduction in trade barriers combined with a more stable environment in comparison to recent years said the index. The index now in its eighth year offers an annual snapshot of industry sentiment and ranks the world s leading emerging markets by size business conditions and transport infrastructure and connections. It includes a survey of more than 800 global logistics executives. Six of the 10 emerging markets with the best conditions for business are Gulf states and include in order of ranking: United Arab Emirates (1) Qatar (2) Oman (3) Bahrain (4) Saudi Arabia (7) and Kuwait (10). To score business conditions the index looked at the strength of the service sector urbaniz...
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Bahrain jumped five spots in this year s Agility Emerging Markets Logistics Index taking 23rd place overall - the third largest leap of all the 50 emerging markets ranked in the report. The ranking upgrade is owing to an overall reduction in trade barriers combined with a more stable environment in comparison to recent years said the index. The index now in its eighth year offers an annual snapshot of industry sentiment and ranks the world s leading emerging markets by size business conditions and transport infrastructure and connections. It includes a survey of more than 800 global logistics executives. Six of the 10 emerging markets with the best conditions for business are Gulf states and include in order of ranking: United Arab Emirates (1) Qatar (2) Oman (3) Bahrain (4) Saudi Arabia (7) and Kuwait (10). To score business conditions the index looked at the strength of the service sector urbaniz...
The Oman Ministry of Commerce and Industry has issued new regulations which make it simple for businesses to start companies and establishments in the contracting sector across the sultanate said a report. Under the new rules companies will no longer be required to show proof of capital when registering a new construction or contracting establishment reported the Times of Oman. Also contracting activities will not require different commercial licences for different contracts it stated. The decision was taken by Minister of Commerce and Industry Dr Ali Al Sunaidi to help create new local jobs. With this ministerial decision companies will be able to register different contracts under the same licence as their other existing projects according to the report. Experts say that this will encourage the establishment of more firms in this sector thus leading to stiff competition and creation of mo...
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The Oman Ministry of Commerce and Industry has issued new regulations which make it simple for businesses to start companies and establishments in the contracting sector across the sultanate said a report. Under the new rules companies will no longer be required to show proof of capital when registering a new construction or contracting establishment reported the Times of Oman. Also contracting activities will not require different commercial licences for different contracts it stated. The decision was taken by Minister of Commerce and Industry Dr Ali Al Sunaidi to help create new local jobs. With this ministerial decision companies will be able to register different contracts under the same licence as their other existing projects according to the report. Experts say that this will encourage the establishment of more firms in this sector thus leading to stiff competition and creation of mo...
A British construction worker has died while working on Qatar s Khalifa International Stadium a 2022 World Cup venue. The Supreme Committee for Delivery and Legacy the body charged with organising the World Cup said in a statement on its website: A 40-year-old British male lost his life working on Khalifa International Stadium. The relevant authorities have been notified and the next of kin have been informed. An immediate investigation into the cause of this fatality is under way and further details will be released in due course it said. The Supreme Committee for Delivery & Legacy shares our deepest condolences with the family for their loss it added. The 40 000-seat stadium will host the quarter finals of the tournament. BBC said in its website that the man fell when the platform used to manage sound and lighting collapsed at the stadium on T...
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A British construction worker has died while working on Qatar s Khalifa International Stadium a 2022 World Cup venue. The Supreme Committee for Delivery and Legacy the body charged with organising the World Cup said in a statement on its website: A 40-year-old British male lost his life working on Khalifa International Stadium. The relevant authorities have been notified and the next of kin have been informed. An immediate investigation into the cause of this fatality is under way and further details will be released in due course it said. The Supreme Committee for Delivery & Legacy shares our deepest condolences with the family for their loss it added. The 40 000-seat stadium will host the quarter finals of the tournament. BBC said in its website that the man fell when the platform used to manage sound and lighting collapsed at the stadium on T...
On average construction material pricing in the UAE remained stable for a second consecutive year during 2016 according to the Colliers International Construction Cost Index. In the context of overall construction costs the 2016 movement in material prices represents a variance of -0.4 per cent to 1.2 per cent on 2015 costs depending on the building type design and specification the report said. Some of the more notable movements over the 12 month period from Q3 2015 to Q3 2016 include increases in aggregate and sand ( 3pc) blocks ( 6pc) concrete ( 2pc) sanitaryware ( 4pc) single core PVC insulated cables 5.6pc glass and mirrors 5pc. Materials that recorded a drop in price include cement (-3pc) timber (-7pc) diesel (-14pc) uPVC pipes (-11pc) and switches and sockets (-5.5pc) the index said. The Construction Cost Index tracks the historic movement of the following: Global construction commodity trends;&nb...
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On average construction material pricing in the UAE remained stable for a second consecutive year during 2016 according to the Colliers International Construction Cost Index. In the context of overall construction costs the 2016 movement in material prices represents a variance of -0.4 per cent to 1.2 per cent on 2015 costs depending on the building type design and specification the report said. Some of the more notable movements over the 12 month period from Q3 2015 to Q3 2016 include increases in aggregate and sand ( 3pc) blocks ( 6pc) concrete ( 2pc) sanitaryware ( 4pc) single core PVC insulated cables 5.6pc glass and mirrors 5pc. Materials that recorded a drop in price include cement (-3pc) timber (-7pc) diesel (-14pc) uPVC pipes (-11pc) and switches and sockets (-5.5pc) the index said. The Construction Cost Index tracks the historic movement of the following: Global construction commodity trends;&nb...
Emirates Real Estate Fund (EREF) has agreed a 190.6 million (Dh700 million) Shari a compliant finance facility with Emirates NBD on attractive commercial terms. The new facility will help contribute to restructuring the balance sheet and creating a more efficient capital structure with the aim of ultimately enhancing returns to investors the fund said. EREF s fund manager Emirates NBD Asset Management has earmarked a portion of the partially undrawn facility for future acquisitions. Over the last 24 months the fund has invested over 163 million in real estate acquisitions including Binghatti Terraces in Dubai Silicon Oasis Arabian Oryx House in Al Barsha Heights part of Burj Daman Office Tower in the DIFC and a residential building in Remraam Dubailand. Tariq Bin Hendi CEO of Emirates NBD Asset Management said: While Emirates Real Estate Fund and Emirates NBD Bank are ...
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Emirates Real Estate Fund (EREF) has agreed a 190.6 million (Dh700 million) Shari a compliant finance facility with Emirates NBD on attractive commercial terms. The new facility will help contribute to restructuring the balance sheet and creating a more efficient capital structure with the aim of ultimately enhancing returns to investors the fund said. EREF s fund manager Emirates NBD Asset Management has earmarked a portion of the partially undrawn facility for future acquisitions. Over the last 24 months the fund has invested over 163 million in real estate acquisitions including Binghatti Terraces in Dubai Silicon Oasis Arabian Oryx House in Al Barsha Heights part of Burj Daman Office Tower in the DIFC and a residential building in Remraam Dubailand. Tariq Bin Hendi CEO of Emirates NBD Asset Management said: While Emirates Real Estate Fund and Emirates NBD Bank are ...
Having bravely negotiated a rather tough 2016 the UAE real estate sector spearheaded by its two major markets Dubai and Abu Dhabi appears well geared to make positive strides this year said a report. Despite the effects of global events such as Brexit the US presidential elections and a continued liquidity crunch owing to low oil prices resonating across markets worldwide the diversity of the UAE economy helped the country sustain these headwinds and players in its various business sectors including real estate continued with mega projects according to UAE property portal Bayut. Projects such as Dubai South Jumeirah Central and Dubai Creek Harbour showcase the faith developers continue to place in the real estate sector which in turn inspires confidence in domestic and international investors it stated. Across 2016 average apartment prices in Dubai were down 11 per cent to Dh2.29 million ( 623 295) from the 2015 average of ...
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Having bravely negotiated a rather tough 2016 the UAE real estate sector spearheaded by its two major markets Dubai and Abu Dhabi appears well geared to make positive strides this year said a report. Despite the effects of global events such as Brexit the US presidential elections and a continued liquidity crunch owing to low oil prices resonating across markets worldwide the diversity of the UAE economy helped the country sustain these headwinds and players in its various business sectors including real estate continued with mega projects according to UAE property portal Bayut. Projects such as Dubai South Jumeirah Central and Dubai Creek Harbour showcase the faith developers continue to place in the real estate sector which in turn inspires confidence in domestic and international investors it stated. Across 2016 average apartment prices in Dubai were down 11 per cent to Dh2.29 million ( 623 295) from the 2015 average of ...
UK-based property firm Savills has signed an exclusive strategic partnership agreement with an award-winning Bahraini real estate brokerage Evolve Real Estate. As per the deal Evolve will provide its key real estate agency services with Savills Northern Gulf (Bahrain Office) further enhancing the company s presence in the local and regional market. It will now operate additional services in Bahrain such as covering lettings sales and property management. Savills founded in 1855 is one of the world s largest property firms with over 700 offices and 30 000 staff around the world. It offers multiple professional real estate services primarily property valuations development consultancy dispute resolution market research international investments and international property sales. Evolve Real Estate offers local letting sales property management and international property sales. On the deal Donald Bradle...
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UK-based property firm Savills has signed an exclusive strategic partnership agreement with an award-winning Bahraini real estate brokerage Evolve Real Estate. As per the deal Evolve will provide its key real estate agency services with Savills Northern Gulf (Bahrain Office) further enhancing the company s presence in the local and regional market. It will now operate additional services in Bahrain such as covering lettings sales and property management. Savills founded in 1855 is one of the world s largest property firms with over 700 offices and 30 000 staff around the world. It offers multiple professional real estate services primarily property valuations development consultancy dispute resolution market research international investments and international property sales. Evolve Real Estate offers local letting sales property management and international property sales. On the deal Donald Bradle...
Dubai Land Department has extended the application deadline for The Gulf Real Estate Awards until the February 15 allowing hopeful candidates a longer period in which to submit their applications. Mahmoud El Burai executive director of Dubai Real Estate Institute (DREI) said: In light of the high level of applicant interest from a wide number of companies in the GCC real estate sector we have decided to extend the application deadline and provide an opportunity for more companies to participate in The Gulf Real Estate Awards. We are delighted with the response; even in its inaugural year we expect the program to generate strong competition across all of the award categories. El Burai added The awards are designed to raise the bar for innovation in the real estate sector and provide a platform for GCC companies to highlight their innovative solutions to addressing real estate matters. It promises to have a real impact on the...
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Dubai Land Department has extended the application deadline for The Gulf Real Estate Awards until the February 15 allowing hopeful candidates a longer period in which to submit their applications. Mahmoud El Burai executive director of Dubai Real Estate Institute (DREI) said: In light of the high level of applicant interest from a wide number of companies in the GCC real estate sector we have decided to extend the application deadline and provide an opportunity for more companies to participate in The Gulf Real Estate Awards. We are delighted with the response; even in its inaugural year we expect the program to generate strong competition across all of the award categories. El Burai added The awards are designed to raise the bar for innovation in the real estate sector and provide a platform for GCC companies to highlight their innovative solutions to addressing real estate matters. It promises to have a real impact on the...
The Middle East and Africa (MEA) hospitality market is witnessing robust growth with a total of 864 hotel projects under construction in the region said a report. Of this about 555 projects comprising 158 441 rooms are under contract in the Middle East region stated STR a leading provider of global hotel data in its November 2016 Pipeline Report. The under-contract data includes projects in the in-construction final planning and planning stages but does not include projects in the unconfirmed stage. Among the MEA countries Saudi Arabia has the highest number of rooms (23 060 rooms in 14 projects) in the in-construction stage followed by the UAE with 20 451 rooms in 69 projects. The under contract total in the Middle East represents a 7.2 per cent increase in rooms under contract compared with December 2015. Specifically in the in construction phase the Middle East reported 84 519 rooms in 264 hotels up 4.3 per c...
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The Middle East and Africa (MEA) hospitality market is witnessing robust growth with a total of 864 hotel projects under construction in the region said a report. Of this about 555 projects comprising 158 441 rooms are under contract in the Middle East region stated STR a leading provider of global hotel data in its November 2016 Pipeline Report. The under-contract data includes projects in the in-construction final planning and planning stages but does not include projects in the unconfirmed stage. Among the MEA countries Saudi Arabia has the highest number of rooms (23 060 rooms in 14 projects) in the in-construction stage followed by the UAE with 20 451 rooms in 69 projects. The under contract total in the Middle East represents a 7.2 per cent increase in rooms under contract compared with December 2015. Specifically in the in construction phase the Middle East reported 84 519 rooms in 264 hotels up 4.3 per c...
The total amount of real estate transactions recorded in Dubai UAE last year exceeded Dh259 billion ( 70.5 billion) according to the annual report released by Dubai Land Department s (DLD). The Emirate recorded a total of 60 595 real estate transactions in 2016 the report said. Over 41 776 sales transactions took place representing a total value of Dh103 billion while the 15 000 mortgage transactions were equivalent to a value of Dh128 billion. Sultan Butti Bin Merjen director general of DLD said the findings in the report confirm that the real estate market in Dubai has reached a new phase of maturity and stability and that it is moving towards sustainable growth. Bin Mejren predicted that the real estate market in Dubai will gain further momentum in 2017 signalling an upward trend for sustained growth in the run-up to Expo 2020. The news was shared in his comment on the annual report which was issued by Real Estate Res...
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The total amount of real estate transactions recorded in Dubai UAE last year exceeded Dh259 billion ( 70.5 billion) according to the annual report released by Dubai Land Department s (DLD). The Emirate recorded a total of 60 595 real estate transactions in 2016 the report said. Over 41 776 sales transactions took place representing a total value of Dh103 billion while the 15 000 mortgage transactions were equivalent to a value of Dh128 billion. Sultan Butti Bin Merjen director general of DLD said the findings in the report confirm that the real estate market in Dubai has reached a new phase of maturity and stability and that it is moving towards sustainable growth. Bin Mejren predicted that the real estate market in Dubai will gain further momentum in 2017 signalling an upward trend for sustained growth in the run-up to Expo 2020. The news was shared in his comment on the annual report which was issued by Real Estate Res...
New initiatives such as the Saudi Vision 2030 and National Transformation Program (NTP) will help support the kingdom s real estate sector in response to the 2015 challenges of declining oil prices and resulting need to cut government spending said a report. There has been a major impact of the new age of austerity and other macroeconomic challenges of weakened spending power new tax law establishments and the introduction of new real estate investment traded funds on the real estate sector stated JLL in its 2016 Year in Review report. The annual report highlights the office residential retail and hotel markets across Saudi Arabia with detailed analysis of these sectors in Riyadh Jeddah and Dammam Metropolitan Area (DMA). Despite a decline in Saudi Arabia s GDP growth from 3.5 per cent in 2015 to just 1.6 per cent last year liquidity in the market was eased by the major first time rais...
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New initiatives such as the Saudi Vision 2030 and National Transformation Program (NTP) will help support the kingdom s real estate sector in response to the 2015 challenges of declining oil prices and resulting need to cut government spending said a report. There has been a major impact of the new age of austerity and other macroeconomic challenges of weakened spending power new tax law establishments and the introduction of new real estate investment traded funds on the real estate sector stated JLL in its 2016 Year in Review report. The annual report highlights the office residential retail and hotel markets across Saudi Arabia with detailed analysis of these sectors in Riyadh Jeddah and Dammam Metropolitan Area (DMA). Despite a decline in Saudi Arabia s GDP growth from 3.5 per cent in 2015 to just 1.6 per cent last year liquidity in the market was eased by the major first time rais...
Over the past decade the GCC region has witnessed rapid economic development and demographic changes including the influx of expatriates which in turn has increased the region s overall population. This coupled with rise in per capita income has fuelled the demand for residential units in the GCC region stated Al Masah Capital region s leading investment firm in a real estate review report. Post-recession the GCC has emerged as an attractive destination for global investors and the real estate sector has become a key economic barometer for the growth in the region. In fact the GCC real estate sector is one of the fastest growing sectors across the world albeit the recent slowdown in economic growth due to oil price fluctuations according to the report. The report reaffirmed that the GCC markets are still gaining a lot of investor attention as prices are relatively stable which reflects the real estate mar...
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Over the past decade the GCC region has witnessed rapid economic development and demographic changes including the influx of expatriates which in turn has increased the region s overall population. This coupled with rise in per capita income has fuelled the demand for residential units in the GCC region stated Al Masah Capital region s leading investment firm in a real estate review report. Post-recession the GCC has emerged as an attractive destination for global investors and the real estate sector has become a key economic barometer for the growth in the region. In fact the GCC real estate sector is one of the fastest growing sectors across the world albeit the recent slowdown in economic growth due to oil price fluctuations according to the report. The report reaffirmed that the GCC markets are still gaining a lot of investor attention as prices are relatively stable which reflects the real estate mar...
The GCC real estate has emerged as one of the fastest growing sectors across the globe despite the recent economic slowdown with Dubai and Abu Dhabi (UAE) and Doha (Qatar) topping the regional list said a report. Over the past decade the GCC region has witnessed rapid economic development and demographic changes including the influx of expatriates which in turn has increased the region s overall population. This coupled with rise in per capita income has fuelled the demand for residential units in the GCC region stated Al Masah Capital region s leading investment firm in a real estate review report. Post-recession the GCC has emerged as an attractive destination for global investors and the real estate sector has become a key economic barometer for the growth in the region. In fact the GCC real estate sector is one of the fastest growing sectors across the world albeit the recent slowdown in ec...
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The GCC real estate has emerged as one of the fastest growing sectors across the globe despite the recent economic slowdown with Dubai and Abu Dhabi (UAE) and Doha (Qatar) topping the regional list said a report. Over the past decade the GCC region has witnessed rapid economic development and demographic changes including the influx of expatriates which in turn has increased the region s overall population. This coupled with rise in per capita income has fuelled the demand for residential units in the GCC region stated Al Masah Capital region s leading investment firm in a real estate review report. Post-recession the GCC has emerged as an attractive destination for global investors and the real estate sector has become a key economic barometer for the growth in the region. In fact the GCC real estate sector is one of the fastest growing sectors across the world albeit the recent slowdown in ec...
Sustained industrial and retail expansion along with infrastructural development is likely to drive Saudi Arabia s logistics sector according to Ken Research a leading market research and data analytics company. The report titled Saudi Arabia Logistics & Warehousing Market Outlook to 2020 - Expanding Industrial and Retail Activities Supported by Infrastructure Spending to Support Growth provides a comprehensive analysis of logistics and warehousing industry in Saudi Arabia. The report focuses on Saudi Arabia logistics and warehousing segments. The report covers market size in terms of revenues and segmentation of overall logistics and warehousing industry on the basis of service mix by geography and by industries. It also includes freight forwarding market size warehousing market size cold chain market size 3PL market size and express logistics market. The report also covers value chain an...
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Sustained industrial and retail expansion along with infrastructural development is likely to drive Saudi Arabia s logistics sector according to Ken Research a leading market research and data analytics company. The report titled Saudi Arabia Logistics & Warehousing Market Outlook to 2020 - Expanding Industrial and Retail Activities Supported by Infrastructure Spending to Support Growth provides a comprehensive analysis of logistics and warehousing industry in Saudi Arabia. The report focuses on Saudi Arabia logistics and warehousing segments. The report covers market size in terms of revenues and segmentation of overall logistics and warehousing industry on the basis of service mix by geography and by industries. It also includes freight forwarding market size warehousing market size cold chain market size 3PL market size and express logistics market. The report also covers value chain an...
The Emirates Nuclear Energy Corporation (ENEC) has achieved major milestones as it moves towards a new phase in the construction of Units 3 and 4 at the Barakah Nuclear Energy Plant which is now more than 50 per cent completed. The recent progress significantly advances Enec s goal of delivering safe clean efficient and reliable nuclear energy to the UAE through its Peaceful Nuclear Energy Program said a statement from the corporation. The construction achievements include the successful setting in place of Unit 3 s Reactor Containment Building (RCB) Liner Dome section effectively installing the roof of the structure which now houses the Reactor Vessel (RV) said the statement. Further the completion of Unit 4 s Turbine Generator Operating Deck and the setting of the last Reactor Containment Liner Plate Rings mark important progress for the units it added. These milestones are a result ...
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The Emirates Nuclear Energy Corporation (ENEC) has achieved major milestones as it moves towards a new phase in the construction of Units 3 and 4 at the Barakah Nuclear Energy Plant which is now more than 50 per cent completed. The recent progress significantly advances Enec s goal of delivering safe clean efficient and reliable nuclear energy to the UAE through its Peaceful Nuclear Energy Program said a statement from the corporation. The construction achievements include the successful setting in place of Unit 3 s Reactor Containment Building (RCB) Liner Dome section effectively installing the roof of the structure which now houses the Reactor Vessel (RV) said the statement. Further the completion of Unit 4 s Turbine Generator Operating Deck and the setting of the last Reactor Containment Liner Plate Rings mark important progress for the units it added. These milestones are a result ...
GFH Real Estate the real estate arm of Bahrain-based GFH Financial Group has appointed Mohammed Khalil Ahmed as its new chief commercial officer. In his new role Ahmed will focus on all areas related to commercialisation and management of GFH RE development and managed assets. Ahmed brings with him 15 years of experience in commercial management business development strategic planning revenue optimisation management and diversification as well as deep real estate sector experience spanning development design and project construction and contract management. Prior to this he was most recently chief commercial officer at the Bahrain Airport Company where he began working in 2012 and was responsible for managing all airport revenues including those related to aeronautical and non-aeronautical streams. His previous experience includes eight years at Al Khaleeji Development Company (Tameer) where he was an executiv...
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GFH Real Estate the real estate arm of Bahrain-based GFH Financial Group has appointed Mohammed Khalil Ahmed as its new chief commercial officer. In his new role Ahmed will focus on all areas related to commercialisation and management of GFH RE development and managed assets. Ahmed brings with him 15 years of experience in commercial management business development strategic planning revenue optimisation management and diversification as well as deep real estate sector experience spanning development design and project construction and contract management. Prior to this he was most recently chief commercial officer at the Bahrain Airport Company where he began working in 2012 and was responsible for managing all airport revenues including those related to aeronautical and non-aeronautical streams. His previous experience includes eight years at Al Khaleeji Development Company (Tameer) where he was an executiv...
Kuwait s Health Insurance Company (Daman) said it has awarded a KD162 million ( 535 million) contract to China s Metallurgical Group Corporation (MCC) for the construction of two 600-bed hospitals in the country. As per the agreement the MCC would carry out design construction equipping and maintenance works for the two hospitals which will come up in the Jahra and Ahmadi governorates of Kuwait. The Medical Insurance Hospital Project is being jointly implemented by Shanghai Baoye MCC Huatian and MCC International Group as a consortium. Both the hospitals will be ready for operation by the end of 2019 stated Dr Ahmad Al-Saleh the board-member and chief executive of Daman after signing the design and building contract with MCC international group deputy general manager Ma Xiaoh in Kuwait. These hospitals are aimed at serving the insurance-paying expatriates who account for some 70 per cent of Kuwait ...
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Kuwait s Health Insurance Company (Daman) said it has awarded a KD162 million ( 535 million) contract to China s Metallurgical Group Corporation (MCC) for the construction of two 600-bed hospitals in the country. As per the agreement the MCC would carry out design construction equipping and maintenance works for the two hospitals which will come up in the Jahra and Ahmadi governorates of Kuwait. The Medical Insurance Hospital Project is being jointly implemented by Shanghai Baoye MCC Huatian and MCC International Group as a consortium. Both the hospitals will be ready for operation by the end of 2019 stated Dr Ahmad Al-Saleh the board-member and chief executive of Daman after signing the design and building contract with MCC international group deputy general manager Ma Xiaoh in Kuwait. These hospitals are aimed at serving the insurance-paying expatriates who account for some 70 per cent of Kuwait ...
Kuwait s real estate market received a significant boost from the commercial sector in November pushing the monthly sales above KD200 million ( 660 million) for the first time in six months according to a report. However the activity and sales value of the residential and investment sectors continued to lag last year s performance by 22 per cent year-on-year (y/y) each stated National Bank of Kuwait (NBK) in its report. Sales in all sectors totaled KD2.04 billion ( 6.73 billion) year-to-date (ytd) down 27 per cent y/y it said. November s price performance as reflected in NBK s real estate price indices indicates some stabilization and convergence of trends across sectors. Notwithstanding the occasional strong month the residential sector sales have been generally weak throughout 2016. Sector sales totaled KD71.4 million on 244 transactions during the month stated the report. ...
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Kuwait s real estate market received a significant boost from the commercial sector in November pushing the monthly sales above KD200 million ( 660 million) for the first time in six months according to a report. However the activity and sales value of the residential and investment sectors continued to lag last year s performance by 22 per cent year-on-year (y/y) each stated National Bank of Kuwait (NBK) in its report. Sales in all sectors totaled KD2.04 billion ( 6.73 billion) year-to-date (ytd) down 27 per cent y/y it said. November s price performance as reflected in NBK s real estate price indices indicates some stabilization and convergence of trends across sectors. Notwithstanding the occasional strong month the residential sector sales have been generally weak throughout 2016. Sector sales totaled KD71.4 million on 244 transactions during the month stated the report. ...
Dubai s Roads and Transport Authority (RTA has approved the contract for the construction of Hatta Gate which will add a touch of beauty to the entrance of the area boating of rich tourist historical and natural attractions. Construction works will start in February 2017 and the project is set for completion within six months. Hatta Gate Project boasts of a unique design that reflects the identity of Hatta and its nature in a modern and innovative setting said Mattar Al Tayer director general and chairman of RTA. The design of the Gate replicates the gorgeous and exciting topography of the area dotted with mountains and cliffs in a creative style with successive columns of different configurations depicting the unique nature of the area. The vertical high shape symbolises the stiff towering mountains of Hatta creating unforgettable memories for visitors. RTA intends to impleme...
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Dubai s Roads and Transport Authority (RTA has approved the contract for the construction of Hatta Gate which will add a touch of beauty to the entrance of the area boating of rich tourist historical and natural attractions. Construction works will start in February 2017 and the project is set for completion within six months. Hatta Gate Project boasts of a unique design that reflects the identity of Hatta and its nature in a modern and innovative setting said Mattar Al Tayer director general and chairman of RTA. The design of the Gate replicates the gorgeous and exciting topography of the area dotted with mountains and cliffs in a creative style with successive columns of different configurations depicting the unique nature of the area. The vertical high shape symbolises the stiff towering mountains of Hatta creating unforgettable memories for visitors. RTA intends to impleme...
Descartes Systems Group a global leader in uniting logistics-intensive businesses in commerce via the Global Logistics Network (GLN) said it has acquired Datamyne a leading provider of cloud-based trade data content solutions for customers to analyze import and export trade activity. Datamyne primarily operating in the US and South America collects cleanses and commercialises logistics trade data from over 50 nations across 5 continents including key markets in North America Latin America Asia Africa and the European Union. More than 100 million records are gathered each year from official filings with customs authorities and trade ministries stated the US company. Subscribers use Datamyne s web based solutions and business intelligence tools to augment speed up and simplify trade data research and to shape global marketing prospecting and sourcing strategies. Datamyne is the market leader for...
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Descartes Systems Group a global leader in uniting logistics-intensive businesses in commerce via the Global Logistics Network (GLN) said it has acquired Datamyne a leading provider of cloud-based trade data content solutions for customers to analyze import and export trade activity. Datamyne primarily operating in the US and South America collects cleanses and commercialises logistics trade data from over 50 nations across 5 continents including key markets in North America Latin America Asia Africa and the European Union. More than 100 million records are gathered each year from official filings with customs authorities and trade ministries stated the US company. Subscribers use Datamyne s web based solutions and business intelligence tools to augment speed up and simplify trade data research and to shape global marketing prospecting and sourcing strategies. Datamyne is the market leader for...
Hill International a global leader in managing construction risk said it has entered into a definitive stock purchase agreement to sell one of its key units - Construction Claims Group - to Bridgepoint Development Capital part of international private equity group Bridgepoint for 147 million in an all-cash transaction. With 960 professionals in 40 offices worldwide the company provides claims consulting management consulting litigation support expert witness testimony cost/damages assessment delay/disruption analysis adjudication lender advisory risk management forensic accounting fraud investigation project neutral and international arbitration services. The transaction is expected to close in approximately 60 days subject to certain closing conditions said a statement from Hill. For the trailing twelve months ended September 30 2016 Hill s Construction Claims Group achieved consulting fee revenue of 163.1 mil...
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Hill International a global leader in managing construction risk said it has entered into a definitive stock purchase agreement to sell one of its key units - Construction Claims Group - to Bridgepoint Development Capital part of international private equity group Bridgepoint for 147 million in an all-cash transaction. With 960 professionals in 40 offices worldwide the company provides claims consulting management consulting litigation support expert witness testimony cost/damages assessment delay/disruption analysis adjudication lender advisory risk management forensic accounting fraud investigation project neutral and international arbitration services. The transaction is expected to close in approximately 60 days subject to certain closing conditions said a statement from Hill. For the trailing twelve months ended September 30 2016 Hill s Construction Claims Group achieved consulting fee revenue of 163.1 mil...
Leading regional developer Nakheel has floated tenders for the design and construction of six marinas at its Deira Islands development in Dubai UAE said a report. These new marinas will boast of more than 600 berths catering to all types of vessels (from small pleasure craft to large VIP super yachts) according to Tendersontime . One of the six new marinas will be used to serve the upcoming Deira Islands Night Souk which is due for completion in 2018 stated the report. An ambitious Nakheel project the Deira Islands is the new waterfront of Dubai comprising four man-made islands inside the Arabian Gulf waters along the stretch of Deira Beach spanning an area of about 17 million sq m. It is the biggest development project in Deira which will see construction of hundreds of hotels hotel apartments multi-use buildings and marinas for an estimated 250 000 residents and 80 000 employees. The last ...
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Leading regional developer Nakheel has floated tenders for the design and construction of six marinas at its Deira Islands development in Dubai UAE said a report. These new marinas will boast of more than 600 berths catering to all types of vessels (from small pleasure craft to large VIP super yachts) according to Tendersontime . One of the six new marinas will be used to serve the upcoming Deira Islands Night Souk which is due for completion in 2018 stated the report. An ambitious Nakheel project the Deira Islands is the new waterfront of Dubai comprising four man-made islands inside the Arabian Gulf waters along the stretch of Deira Beach spanning an area of about 17 million sq m. It is the biggest development project in Deira which will see construction of hundreds of hotels hotel apartments multi-use buildings and marinas for an estimated 250 000 residents and 80 000 employees. The last ...
The northern emirate of Ajman has witnessed robust real estate activity in the year to date with transactions worth Dh1.5 billion ( 408 million) involving more than 18 000 freehold units finalised up 39 per cent over the same period last year said experts at a recent industry event. The Ajman Real Estate Conference 1 was organized by the Real Estate Regulatory Agency Ajman (ARRA) a state-run institution mandated with regulating the real estate activities and developments in Ajman The one-day event was held under the patronage of HH Sheikh Humaid Bin Rashid Al Nuaimi Ruler of Ajman and Member of the UAE Supreme Council under the theme Sustainable Development According to Global Standards. The conference not only showcased the real estate project pipeline in Ajman but also reinforced the emirate s stature as a stable investment destination. Yafea Al Faraj the executive director of Arra said...
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The northern emirate of Ajman has witnessed robust real estate activity in the year to date with transactions worth Dh1.5 billion ( 408 million) involving more than 18 000 freehold units finalised up 39 per cent over the same period last year said experts at a recent industry event. The Ajman Real Estate Conference 1 was organized by the Real Estate Regulatory Agency Ajman (ARRA) a state-run institution mandated with regulating the real estate activities and developments in Ajman The one-day event was held under the patronage of HH Sheikh Humaid Bin Rashid Al Nuaimi Ruler of Ajman and Member of the UAE Supreme Council under the theme Sustainable Development According to Global Standards. The conference not only showcased the real estate project pipeline in Ajman but also reinforced the emirate s stature as a stable investment destination. Yafea Al Faraj the executive director of Arra said...
Case Construction Equipment has appointed International Equipment and Contracting Company (IECC) as its new dealer for Oman to meet growing demand for construction machinery from contractors government organisations and rental businesses. The move comes as major public sector construction projects rising oil prices and government investment in energy manufacturing transportation and utilities look set to boost the construction equipment market in Oman. IECC a Bahwan International Group company was established in 1985 and has modern facilities in Mawaleh Muscat along with depots in Sohar and Salahah. The company has more than 100 staff with dedicated sales and service teams working in commercial vehicles earthmoving construction industrial and surveying equipment and has become an important player in Oman s infrastructure development. IECC said it was committed to sell and support the full range of Case ...
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Case Construction Equipment has appointed International Equipment and Contracting Company (IECC) as its new dealer for Oman to meet growing demand for construction machinery from contractors government organisations and rental businesses. The move comes as major public sector construction projects rising oil prices and government investment in energy manufacturing transportation and utilities look set to boost the construction equipment market in Oman. IECC a Bahwan International Group company was established in 1985 and has modern facilities in Mawaleh Muscat along with depots in Sohar and Salahah. The company has more than 100 staff with dedicated sales and service teams working in commercial vehicles earthmoving construction industrial and surveying equipment and has become an important player in Oman s infrastructure development. IECC said it was committed to sell and support the full range of Case ...
Sage a technology leader for integrated accounting payroll and payment systems has joined hands with development partner Specialized Application Workshop (Saw) and Software Mill to launch Sage X3 for Construction. Sage X3 for Construction is an enterprise-class next generation business management software solution is built to address both front and back office operations of organizations in the construction sector said a statement from the company. It has core-capabilities of project and contract management sub-contract management support for estimating full construction document management including transmitals management project financial tracking and cashflow personalized dashboard work-flow automation and alerts integrated HR and payroll time-sheet transactions and development and integration tools. The solution accelerates collaboration and reporting and delivers real-time insight into all operations of the business. ...
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Sage a technology leader for integrated accounting payroll and payment systems has joined hands with development partner Specialized Application Workshop (Saw) and Software Mill to launch Sage X3 for Construction. Sage X3 for Construction is an enterprise-class next generation business management software solution is built to address both front and back office operations of organizations in the construction sector said a statement from the company. It has core-capabilities of project and contract management sub-contract management support for estimating full construction document management including transmitals management project financial tracking and cashflow personalized dashboard work-flow automation and alerts integrated HR and payroll time-sheet transactions and development and integration tools. The solution accelerates collaboration and reporting and delivers real-time insight into all operations of the business. ...
The Middle East and Africa hospitality market is witnessing solid growth with a total of 218 800 rooms under construction in the region said a report. Of this about 159 922 rooms in 560 projects are under contract in the Middle East region stated STR a leading provider of global hotel data in its November 2016 Pipeline Report. The under contract data includes projects in the In Construction Final Planning and Planning stages but does not include projects in the unconfirmed stage. Among the MEA countries Saudi Arabia topped the list with most rooms (37 864 rooms in 83 hotels) In Construction stage followed by the UAE with 26 889 rooms in 97 hotels. Two other countries in the region reported more than 5 000 rooms In Construction - Qatar with 8 748 rooms in 36 hotels and Egypt (5 645 rooms in 16 hotels) stated the STR report. The under contract total in the Middle East represents a 10.8 per cent increa...
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The Middle East and Africa hospitality market is witnessing solid growth with a total of 218 800 rooms under construction in the region said a report. Of this about 159 922 rooms in 560 projects are under contract in the Middle East region stated STR a leading provider of global hotel data in its November 2016 Pipeline Report. The under contract data includes projects in the In Construction Final Planning and Planning stages but does not include projects in the unconfirmed stage. Among the MEA countries Saudi Arabia topped the list with most rooms (37 864 rooms in 83 hotels) In Construction stage followed by the UAE with 26 889 rooms in 97 hotels. Two other countries in the region reported more than 5 000 rooms In Construction - Qatar with 8 748 rooms in 36 hotels and Egypt (5 645 rooms in 16 hotels) stated the STR report. The under contract total in the Middle East represents a 10.8 per cent increa...
Dubai-based global marine terminal operator DP World is keen to develop logistics zones in Vietnam along with its other long-term infrastructure projects in the country said its top official. Logistics parks are a strategic solution for global companies seeking to consolidate their operations remarked DP World Group chairman and CEO Sultan Ahmed Bin Sulayem during his meeting with Vietnamese Prime Minister Nguyen Xuan Phuc in Hanoi Vietnam yesterday (December 14). Bin Sulayem pointed out that seamless cargo movement to and from these parks was vital; connecting land air and sea using easy-to-use and smart electronic portals much like the one-stop Dubai Trade Portal offered at its flagship Jebel Ali Port and Free Zone in Dubai UAE. Connecting logistics and business parks with multi-modal transport and digital infrastructure is key in encouraging economic growth he added. Earlier Bi...
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Dubai-based global marine terminal operator DP World is keen to develop logistics zones in Vietnam along with its other long-term infrastructure projects in the country said its top official. Logistics parks are a strategic solution for global companies seeking to consolidate their operations remarked DP World Group chairman and CEO Sultan Ahmed Bin Sulayem during his meeting with Vietnamese Prime Minister Nguyen Xuan Phuc in Hanoi Vietnam yesterday (December 14). Bin Sulayem pointed out that seamless cargo movement to and from these parks was vital; connecting land air and sea using easy-to-use and smart electronic portals much like the one-stop Dubai Trade Portal offered at its flagship Jebel Ali Port and Free Zone in Dubai UAE. Connecting logistics and business parks with multi-modal transport and digital infrastructure is key in encouraging economic growth he added. Earlier Bi...
Russia and Iran signed a 2.5 billion deal on construction of a thermal power plant in southern Iran and electrification of a railway line a report said. The thermal power station is going to be built in Bandar Abbas in the southern province of Hormozgan while the railway line that will be electrified connects towns of Garmsar and Incheborun reported Iran Daily citing Sputniknews . Both countries also signed roadmap on trade and industrial cooperation and a memorandum of understanding between Russia s EXIAR and Iranian banks Parsian and Pasargad. ...
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Russia and Iran signed a 2.5 billion deal on construction of a thermal power plant in southern Iran and electrification of a railway line a report said. The thermal power station is going to be built in Bandar Abbas in the southern province of Hormozgan while the railway line that will be electrified connects towns of Garmsar and Incheborun reported Iran Daily citing Sputniknews . Both countries also signed roadmap on trade and industrial cooperation and a memorandum of understanding between Russia s EXIAR and Iranian banks Parsian and Pasargad. ...
King Abdullah Economic City (KAEC) the largest privately funded new city development in the world has signed a contract with Alshaya International Trading Company a leading international retail franchise business to lease 91 000 sq m area located in the third phase of the Industrial Valley. A major player in Saudi Arabia Alshaya offers consumers a wide portfolio of more than 40 retail brands including Starbucks H&M Mothercare Debenhams and Victoria s Secret with over 800 stores across the kingdom. The new lease will support Alshaya s ongoing expansion plans in Saudi Arabia by providing the location for a new west coast logistics hubm said a statement from KAEC. The Industrial Valley enjoys a direct connection to the King Abdullah Port which is strategically located on the Red Sea one of the region s most important maritime channels for international cargo transport. It is also supported with well-plann...
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King Abdullah Economic City (KAEC) the largest privately funded new city development in the world has signed a contract with Alshaya International Trading Company a leading international retail franchise business to lease 91 000 sq m area located in the third phase of the Industrial Valley. A major player in Saudi Arabia Alshaya offers consumers a wide portfolio of more than 40 retail brands including Starbucks H&M Mothercare Debenhams and Victoria s Secret with over 800 stores across the kingdom. The new lease will support Alshaya s ongoing expansion plans in Saudi Arabia by providing the location for a new west coast logistics hubm said a statement from KAEC. The Industrial Valley enjoys a direct connection to the King Abdullah Port which is strategically located on the Red Sea one of the region s most important maritime channels for international cargo transport. It is also supported with well-plann...
Dubai-based global marine operator DP World has opened the first smart logistics centre in Lurin Peru connected through optical fibres to its terminal at Callao Port near the capital Lima. The centre will deliver information to the port and customs enabling customers to manage the movement of their cargo using their own electronic devices and smartphones. DP World Group chairman and CEO and chairman of Ports Customs & Free Zone Corporation Sultan Ahmed bin Sulayem said: This new logistics centre underlines our commitment to enabling trade across the supply chain connecting ports and customs through smart technology to make life easier for business and end users. The new platform is designed to encourage trade in the region and on the west coast of South America saving time and money through the efficient movement of cargo. This development is part of our strategy to deploy state-of-the-art technology across our global portfolio of 77 m...
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Dubai-based global marine operator DP World has opened the first smart logistics centre in Lurin Peru connected through optical fibres to its terminal at Callao Port near the capital Lima. The centre will deliver information to the port and customs enabling customers to manage the movement of their cargo using their own electronic devices and smartphones. DP World Group chairman and CEO and chairman of Ports Customs & Free Zone Corporation Sultan Ahmed bin Sulayem said: This new logistics centre underlines our commitment to enabling trade across the supply chain connecting ports and customs through smart technology to make life easier for business and end users. The new platform is designed to encourage trade in the region and on the west coast of South America saving time and money through the efficient movement of cargo. This development is part of our strategy to deploy state-of-the-art technology across our global portfolio of 77 m...
Case Construction Equipment a global provider of construction equipment around the world has announced the opening of its new parts facility in Dubai UAE which will cater to the region. The company s new depot will help Case boost its service levels and reduce downtime to help customers maintain high levels of productivity. The facility will focus on Middle East needs stocking relevant parts and improving delivery time. With the capacity to hold more than 350 000 parts it will be able to efficiently cover demand for the entire region. The new depot joins the eight others already present in the Europe Middle East and Africa (EMEA) region which boast a total 335 000 sq m of storage space and 7.8 million part orders per year via a 24/7 operation said the statement from Case. The company made the announcement at the Case Eagle Days an international event which was held for the first time in the Middle East regio...
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Case Construction Equipment a global provider of construction equipment around the world has announced the opening of its new parts facility in Dubai UAE which will cater to the region. The company s new depot will help Case boost its service levels and reduce downtime to help customers maintain high levels of productivity. The facility will focus on Middle East needs stocking relevant parts and improving delivery time. With the capacity to hold more than 350 000 parts it will be able to efficiently cover demand for the entire region. The new depot joins the eight others already present in the Europe Middle East and Africa (EMEA) region which boast a total 335 000 sq m of storage space and 7.8 million part orders per year via a 24/7 operation said the statement from Case. The company made the announcement at the Case Eagle Days an international event which was held for the first time in the Middle East regio...
Saudi Arabia s HVACR (heating ventilation air-conditioning and refrigeration) market is poised for solid growth over the next five years mainly driven by 80 billion Saudi construction boom said a report. Saudi Arabia features amongst the leading markets for air conditioners across the globe. The long duration of summers and the high temperature throughout the year are not the only factors boosting the sector s sales in the country. A rapidly growing population increasing urbanisation and religious tourism are also driving the upward trend stated the report by leading research firm TechSci Research. Currently valued at 3.2 billion the kingdom s HVAC market is expected to grow steadily by 2021 said TechSci Research in its Saudi Arabia HVACR Market Outlook 2021. The report was commissioned by HVACR Expo Saudi the country s largest dedicated indoor climate and refrigeration event to be hel...
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Saudi Arabia s HVACR (heating ventilation air-conditioning and refrigeration) market is poised for solid growth over the next five years mainly driven by 80 billion Saudi construction boom said a report. Saudi Arabia features amongst the leading markets for air conditioners across the globe. The long duration of summers and the high temperature throughout the year are not the only factors boosting the sector s sales in the country. A rapidly growing population increasing urbanisation and religious tourism are also driving the upward trend stated the report by leading research firm TechSci Research. Currently valued at 3.2 billion the kingdom s HVAC market is expected to grow steadily by 2021 said TechSci Research in its Saudi Arabia HVACR Market Outlook 2021. The report was commissioned by HVACR Expo Saudi the country s largest dedicated indoor climate and refrigeration event to be hel...
Dubai-based Al Habtoor Holding said it has sold all the shares in construction firm Habtoor Leighton LLC (HLG) Contracting (formerly Habtoor Leighton). HLG was formed in 2007 following the merger of UAE-based contractor Al Habtoor Engineering with Gulf Leighton a unit of Australia s Cimic Group. Under its new business strategy the company said it would henceforth focus on the group s core businesses. In a statement the chairman of Al Habtoor Group Khalaf Ahmad Al Habtoor said: I took a strategic decision to depart from HLG and my main focus shall be on Al Habtoor Group s core businesses such as hospitality real estate automotive education and publishing. The divestment move comes several months after Al Habtoor said he planned to offload the shares. I am delighted to have founded such an exceptional construction company in 1970 which to date has built many landma...
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Dubai-based Al Habtoor Holding said it has sold all the shares in construction firm Habtoor Leighton LLC (HLG) Contracting (formerly Habtoor Leighton). HLG was formed in 2007 following the merger of UAE-based contractor Al Habtoor Engineering with Gulf Leighton a unit of Australia s Cimic Group. Under its new business strategy the company said it would henceforth focus on the group s core businesses. In a statement the chairman of Al Habtoor Group Khalaf Ahmad Al Habtoor said: I took a strategic decision to depart from HLG and my main focus shall be on Al Habtoor Group s core businesses such as hospitality real estate automotive education and publishing. The divestment move comes several months after Al Habtoor said he planned to offload the shares. I am delighted to have founded such an exceptional construction company in 1970 which to date has built many landma...
GAC Dubai a leading provider of shipping logistics and marine services has broken ground on the site of its newest contract logistics facility in Dubai South UAE. The facility will bring its total capacity to more than 200 000 pallet positions serving customers active in the local and regional markets. Construction of the three-chamber warehouse and executive office complex in the Logistics District of Dubai South is due to be completed in the fourth quarter of 2017 with operations expected to go live in January 2018. It will add to GAC s existing contract logistics capacity and complements established facilities in the Jebel Ali and Dubai Airport Free Zones. The ground-breaking ceremony was held in the presence of Ahmed Al Ansari acting CEO of Dubai South Joe Labaky from Amana Contracting & Steel Buildings GAC group president Bengt Ekstrand and GAC Dubai managing director Stuart Bowie. The new 72 900 pa...
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GAC Dubai a leading provider of shipping logistics and marine services has broken ground on the site of its newest contract logistics facility in Dubai South UAE. The facility will bring its total capacity to more than 200 000 pallet positions serving customers active in the local and regional markets. Construction of the three-chamber warehouse and executive office complex in the Logistics District of Dubai South is due to be completed in the fourth quarter of 2017 with operations expected to go live in January 2018. It will add to GAC s existing contract logistics capacity and complements established facilities in the Jebel Ali and Dubai Airport Free Zones. The ground-breaking ceremony was held in the presence of Ahmed Al Ansari acting CEO of Dubai South Joe Labaky from Amana Contracting & Steel Buildings GAC group president Bengt Ekstrand and GAC Dubai managing director Stuart Bowie. The new 72 900 pa...
The construction activities are in the advanced stage of completion at major units of Sohar refinery in Oman under a major revamp plan by Oman Oil Refineries and Petroleum Industries Company (Orpic) said a report. The work is likely to be completed by end of 2016 reported the Times of Oman . Capacity expansion at the refinery as part of the will be operational by the second quarter of 2017 stated the report. Commissioning activities have already been started for utilities facilities under the Sohar Refinery Improvement Project (SRIP) Christiaan van der Wouden chief operating officer of Orpic was quoted as saying in the report. The expanded capacity of the SRIP will be stabilised for sustained operations by the end of the same quarter it stated. Once the project becomes fully operational crude processing capacity of Sohar Refinery will increase by around 70 per cent and productio...
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The construction activities are in the advanced stage of completion at major units of Sohar refinery in Oman under a major revamp plan by Oman Oil Refineries and Petroleum Industries Company (Orpic) said a report. The work is likely to be completed by end of 2016 reported the Times of Oman . Capacity expansion at the refinery as part of the will be operational by the second quarter of 2017 stated the report. Commissioning activities have already been started for utilities facilities under the Sohar Refinery Improvement Project (SRIP) Christiaan van der Wouden chief operating officer of Orpic was quoted as saying in the report. The expanded capacity of the SRIP will be stabilised for sustained operations by the end of the same quarter it stated. Once the project becomes fully operational crude processing capacity of Sohar Refinery will increase by around 70 per cent and productio...
Kuwait has announced the successful completion of the construction phase of its 1.7-billion Azzour North One the first independently-owned utility plant in the country said a report. The Azzour North One project is the first PPP (public private partnership) project to be tendered and the first to be completed reported Kuwait Times citing its owner and operator Shamal Azzour Al Oula. Shamal Azzour Al Oula is 40 per cent owned by a private consortium comprising Engie (formerly GDF Suez) Sumitomo Corporation and AH Al Sagar and Brothers while the remaining 60 per cent stake is owned by the government through Kuwait Authority for Partnership Projects (KAPP) which has 50 per cent share along with the Kuwait Investment Authority (KIA) and the Public Institution for Social Security with 5 per cent each. As per the deal the government is mandated to sell 50 per cent of the total ownership through an Initial Public Offering (IP...
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Kuwait has announced the successful completion of the construction phase of its 1.7-billion Azzour North One the first independently-owned utility plant in the country said a report. The Azzour North One project is the first PPP (public private partnership) project to be tendered and the first to be completed reported Kuwait Times citing its owner and operator Shamal Azzour Al Oula. Shamal Azzour Al Oula is 40 per cent owned by a private consortium comprising Engie (formerly GDF Suez) Sumitomo Corporation and AH Al Sagar and Brothers while the remaining 60 per cent stake is owned by the government through Kuwait Authority for Partnership Projects (KAPP) which has 50 per cent share along with the Kuwait Investment Authority (KIA) and the Public Institution for Social Security with 5 per cent each. As per the deal the government is mandated to sell 50 per cent of the total ownership through an Initial Public Offering (IP...
Following a sustained period of economic instability fuelled by falling oil prices and a general weakening of the global economy the recent election of Donald Trump as the 45th president of the US is set to cause further uncertainty for the Middle East s real estate market at least in the short term according to international property consultants Cluttons. Steven Morgan senior partner at Cluttons said: While it s still early days it is important to think about the potential implications on the region s property markets that will be caused by any sudden policy changes made by the incoming president which affect regional confidence. Although we have witnessed improvements in the price of oil and value of the US dollar following initial declines directly after the election announcement we are still cautious of the long-term performance of both following the US presidential inauguration in January next year &qu...
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Following a sustained period of economic instability fuelled by falling oil prices and a general weakening of the global economy the recent election of Donald Trump as the 45th president of the US is set to cause further uncertainty for the Middle East s real estate market at least in the short term according to international property consultants Cluttons. Steven Morgan senior partner at Cluttons said: While it s still early days it is important to think about the potential implications on the region s property markets that will be caused by any sudden policy changes made by the incoming president which affect regional confidence. Although we have witnessed improvements in the price of oil and value of the US dollar following initial declines directly after the election announcement we are still cautious of the long-term performance of both following the US presidential inauguration in January next year &qu...
Al Akaria a leading Saudi real estate development company has announced plans to set up a new contracting and building construction works company. The company move comes following regulatory approval from the Ministry of Commerce and Investment. To be based in capital Riyadh the new firm Saudi Real Estate Construction Company will start operations with a capital of SR100 million ( 26.6 million) consisting of 10 million common shares with par value of SR10 ( 2.6) each said Al Akaria in a statement to the Saudi bourse Tadawul. Al Akaria has subscribed for 60 per cent of the shares in the new company while Kaya Homes is targeting the remaining 40 per cent stake. Once operational the new entity Saudi Real Estate Construction Company will focus on building construction and maintenance on a commercial basis.- TradeArabia News Service ...
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Al Akaria a leading Saudi real estate development company has announced plans to set up a new contracting and building construction works company. The company move comes following regulatory approval from the Ministry of Commerce and Investment. To be based in capital Riyadh the new firm Saudi Real Estate Construction Company will start operations with a capital of SR100 million ( 26.6 million) consisting of 10 million common shares with par value of SR10 ( 2.6) each said Al Akaria in a statement to the Saudi bourse Tadawul. Al Akaria has subscribed for 60 per cent of the shares in the new company while Kaya Homes is targeting the remaining 40 per cent stake. Once operational the new entity Saudi Real Estate Construction Company will focus on building construction and maintenance on a commercial basis.- TradeArabia News Service ...
Saudi Arabia-based Almajdouie Logistics Company (MLC) recently planned executed and managed the complex move of a retired MD90 aircraft from Jeddah International Airport to Riyadh. In collaboration with the Saudi Arabia Airlines MLC technicians and engineers; specialising in the field of heavy transport designed the transportation plan for its final destination at the Saudi Special Forces Training Centre said a statement from the company. To prepare for the journey estimated to take eight to 10 days MLC conducted a series of road tests before preselecting a route that would take the twin-engine short- to medium-range single-aisle commercial jet airliner along approximately 1200 km of roads over five days safely it said. The challenging move had to overcome the height limitation of the aircraft when placed on the trailers (exceeding 5.5M). In addition the cargo had other obstacles such as the sphere shape and the location of t...
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Saudi Arabia-based Almajdouie Logistics Company (MLC) recently planned executed and managed the complex move of a retired MD90 aircraft from Jeddah International Airport to Riyadh. In collaboration with the Saudi Arabia Airlines MLC technicians and engineers; specialising in the field of heavy transport designed the transportation plan for its final destination at the Saudi Special Forces Training Centre said a statement from the company. To prepare for the journey estimated to take eight to 10 days MLC conducted a series of road tests before preselecting a route that would take the twin-engine short- to medium-range single-aisle commercial jet airliner along approximately 1200 km of roads over five days safely it said. The challenging move had to overcome the height limitation of the aircraft when placed on the trailers (exceeding 5.5M). In addition the cargo had other obstacles such as the sphere shape and the location of t...
A multi-million dollar seafront real estate project that has been stalled since 2009 in Bahrain will be auctioned next month reported the Gulf Daily News our sister publication. To read further please visit GDNonline . ...
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A multi-million dollar seafront real estate project that has been stalled since 2009 in Bahrain will be auctioned next month reported the Gulf Daily News our sister publication. To read further please visit GDNonline . ...
Work at eight of the proposed host venues for the 2022 Fifa World Cup matches is now in full swing with the historic Khalifa International Stadium the first host venue due for completion in the first quarter of 2017. Six years from now fans will be arriving in Qatar for opening round matches of the World Cup as the tournament kicks off on November 21 2022 said The Supreme Committee for Delivery & Legacy (SC). All the stadiums are being designed by some of the world s leading architects with three priorities in mind: access and comfort sustainability and post-tournament legacy. The venues in various shape and sizes will each reflect a different aspect of Qatari culture. On the Khalifa International Stadium the SC said construction is moving ahead at a rapid pace with the external cladding and LED screens coming up around the exterior of the venue. The complex system of cabling for the roo...
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Work at eight of the proposed host venues for the 2022 Fifa World Cup matches is now in full swing with the historic Khalifa International Stadium the first host venue due for completion in the first quarter of 2017. Six years from now fans will be arriving in Qatar for opening round matches of the World Cup as the tournament kicks off on November 21 2022 said The Supreme Committee for Delivery & Legacy (SC). All the stadiums are being designed by some of the world s leading architects with three priorities in mind: access and comfort sustainability and post-tournament legacy. The venues in various shape and sizes will each reflect a different aspect of Qatari culture. On the Khalifa International Stadium the SC said construction is moving ahead at a rapid pace with the external cladding and LED screens coming up around the exterior of the venue. The complex system of cabling for the roo...
Leading real estate experts and investors from the GCC and Middle East region will discuss ways to boost sustainable development at a one-day conference to be held next month in Ajman UAE. The event is being organised by Real Estate Regulatory Agency Ajman (ARRA) the state-run institution mandated with regulating the real estate activities and developments in the emirate at the Ajman Emirates Hospitality Centre on December 14. The Ajman Real Estate Conference 1 will be held under the patronage of His Highness Sheikh Humaid Bin Rashid Al Nuaimi Ruler of Ajman and a member of the UAE Supreme Council under the theme Sustainable Development According to Global Standards . It will focus on the emerging trends in the real estate domain in Ajman and is aimed at harnessing the potential of the real estate sector in the emirate said the ARRA officials at a press conference on Saturday. The ...
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Leading real estate experts and investors from the GCC and Middle East region will discuss ways to boost sustainable development at a one-day conference to be held next month in Ajman UAE. The event is being organised by Real Estate Regulatory Agency Ajman (ARRA) the state-run institution mandated with regulating the real estate activities and developments in the emirate at the Ajman Emirates Hospitality Centre on December 14. The Ajman Real Estate Conference 1 will be held under the patronage of His Highness Sheikh Humaid Bin Rashid Al Nuaimi Ruler of Ajman and a member of the UAE Supreme Council under the theme Sustainable Development According to Global Standards . It will focus on the emerging trends in the real estate domain in Ajman and is aimed at harnessing the potential of the real estate sector in the emirate said the ARRA officials at a press conference on Saturday. The ...
The next generation of cruise ships moves from concept to construction today as the first piece of steel is cut at the STX France shipyard for Celebrity Cruises newest ship. The ship will be called Celebrity Edge befitting the many daring design advances and innovations of Celebrity s first new ship class since 2008. The modern luxury cruise line is also announcing today the name of Edge s sister ship Celebrity Beyond signaling the incredible experience guests can expect onboard Celebrity Edge and the entire Edge Class changing the way travellers see the world. Edge Class is destined to be a trailblazer in modern luxury travel said Richard D. Fain Chairman and CEO of Royal Caribbean Cruises. The new ships will be on the cutting edge of innovation and the leading edge of design so the ship names are spot on and offer a sense of how Celebrity Cruises is looking into the future. ...
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The next generation of cruise ships moves from concept to construction today as the first piece of steel is cut at the STX France shipyard for Celebrity Cruises newest ship. The ship will be called Celebrity Edge befitting the many daring design advances and innovations of Celebrity s first new ship class since 2008. The modern luxury cruise line is also announcing today the name of Edge s sister ship Celebrity Beyond signaling the incredible experience guests can expect onboard Celebrity Edge and the entire Edge Class changing the way travellers see the world. Edge Class is destined to be a trailblazer in modern luxury travel said Richard D. Fain Chairman and CEO of Royal Caribbean Cruises. The new ships will be on the cutting edge of innovation and the leading edge of design so the ship names are spot on and offer a sense of how Celebrity Cruises is looking into the future. ...
More than 13 000 construction industry professionals attended The Big 5 the largest building industry event in the Middle East on its opening day said the organiser dmg events Middle East Asia & Africa. On the second day of the event the Excellence in Construction Summit unveiled current and future trends of the construction sector in Dubai the GCC region and beyond. Organised with the strategic support of the Dubai Economic Council (DEC) the summit gathered over 500 industry leaders. Hani Rashid Al Hamli the secretary general of the DEC delivered a keynote speech on the construction industry in the current global economic framework. Dubai is currently witnessing a new momentum of growth thanks to the critical initiatives launched by Vice President and Prime Minister of the UAE and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid Al Maktoum stated Al Hamli. ...
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More than 13 000 construction industry professionals attended The Big 5 the largest building industry event in the Middle East on its opening day said the organiser dmg events Middle East Asia & Africa. On the second day of the event the Excellence in Construction Summit unveiled current and future trends of the construction sector in Dubai the GCC region and beyond. Organised with the strategic support of the Dubai Economic Council (DEC) the summit gathered over 500 industry leaders. Hani Rashid Al Hamli the secretary general of the DEC delivered a keynote speech on the construction industry in the current global economic framework. Dubai is currently witnessing a new momentum of growth thanks to the critical initiatives launched by Vice President and Prime Minister of the UAE and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid Al Maktoum stated Al Hamli. ...
Bahrain-based alternative investment fund Investcorp said its US-based real estate arm has acquired a diverse portfolio of real estate properties in the Boston and Denver metropolitan areas for 250 million. A global provider and manager of alternative investment products Investcorp said the investments include 20 buildings and 1.8 million sq ft of office industrial flex and laboratory space thus highlighting the company s strategy to invest in strong cash-flowing properties throughout key US markets. The investments benefit from a continually improving employment environment. According to Investcorp the purchases of the five investments were well below replacement costs and have an average occupancy rate of 94 per cent. They were acquired with different local partners who have established track records in their respective sectors and markets it stated. On the acquisition Mohammed Al S...
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Bahrain-based alternative investment fund Investcorp said its US-based real estate arm has acquired a diverse portfolio of real estate properties in the Boston and Denver metropolitan areas for 250 million. A global provider and manager of alternative investment products Investcorp said the investments include 20 buildings and 1.8 million sq ft of office industrial flex and laboratory space thus highlighting the company s strategy to invest in strong cash-flowing properties throughout key US markets. The investments benefit from a continually improving employment environment. According to Investcorp the purchases of the five investments were well below replacement costs and have an average occupancy rate of 94 per cent. They were acquired with different local partners who have established track records in their respective sectors and markets it stated. On the acquisition Mohammed Al S...
Heading into the last quarter of the year 2016 the real estate markets in both Dubai and Abu Dhabi appeared to be making strides towards recovery said a report. There has been a noticeable slowdown in the rate of price drops and a visible uptick in average rental values in both emirates following months of continued downward movement according to UAE real estate portal Bayut. The average price for apartments in Dubai dropped by a paltry 1.2 per cent in October compared to the Q3 value while the fall in Abu Dhabi was also significantly smaller at 0.7 per cent. Similarly the average apartment rent in Dubai dropped by a negligible one per cent in October compared to the Q3 value and posted an encouraging one per cent increase compared with the average rent in September it stated. The average apartment rent in Abu Dhabi held its ground against the Q3 number while some individual bed categories posted healthy surges in rates...
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Heading into the last quarter of the year 2016 the real estate markets in both Dubai and Abu Dhabi appeared to be making strides towards recovery said a report. There has been a noticeable slowdown in the rate of price drops and a visible uptick in average rental values in both emirates following months of continued downward movement according to UAE real estate portal Bayut. The average price for apartments in Dubai dropped by a paltry 1.2 per cent in October compared to the Q3 value while the fall in Abu Dhabi was also significantly smaller at 0.7 per cent. Similarly the average apartment rent in Dubai dropped by a negligible one per cent in October compared to the Q3 value and posted an encouraging one per cent increase compared with the average rent in September it stated. The average apartment rent in Abu Dhabi held its ground against the Q3 number while some individual bed categories posted healthy surges in rates...
The International Islamic Trade Finance Corporation (ITFC) a member of the Islamic Development Bank Group (IDB) has signed a memorandum of understanding (MoU) with The National Transport and Logistics Company (SNTL) in Morocco said a report. The MoU comes as a milestone under the umbrella of Arab-Africa Trade Bridge Program that aims to promote the trade between the two regions added the Saudi Gazette report. ITFC will seek through this agreement to mobilise funds for mounting a study for the development of logistics platforms in a number of Sub-Saharan African countries to facilitate trade and investment between these countries Morocco and other Arab states it said. The signing ceremony took place during the 22nd session of the Conference of the Parties (COP22) in Marrakech Morocco. The event was held under the auspices of Dr Bandar Hajjar president of the Islamic Development Bank Group (IDBG). Th...
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The International Islamic Trade Finance Corporation (ITFC) a member of the Islamic Development Bank Group (IDB) has signed a memorandum of understanding (MoU) with The National Transport and Logistics Company (SNTL) in Morocco said a report. The MoU comes as a milestone under the umbrella of Arab-Africa Trade Bridge Program that aims to promote the trade between the two regions added the Saudi Gazette report. ITFC will seek through this agreement to mobilise funds for mounting a study for the development of logistics platforms in a number of Sub-Saharan African countries to facilitate trade and investment between these countries Morocco and other Arab states it said. The signing ceremony took place during the 22nd session of the Conference of the Parties (COP22) in Marrakech Morocco. The event was held under the auspices of Dr Bandar Hajjar president of the Islamic Development Bank Group (IDBG). Th...
Gulf Warehousing Company (GWC) a leading logistics provider in Qatar recently won an award for innovation at the Enterprise Agility Awards organised by BNC publishing. The evnet was held in Doha Qatar. The Enterprise Agility Awards recognise and honour enterprise leaders and individuals who have distinguished themselves and shown sector significance and outstanding business conduct across a variety of industries that are key drivers of respective Middle East s economies. GWC was recognised with the Enterprise Agility Award 2016 for Logistics Innovation at the event said a statement from the company. Abdulaziz Al Sahlawi director of public relations GWC said: We are delighted for the recognition that our company has received towards developing innovative solutions and bespoke infrastructure in line with our clients needs and requirements. Sheikh Abdulla bin Fahad bin Jassem ...
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Gulf Warehousing Company (GWC) a leading logistics provider in Qatar recently won an award for innovation at the Enterprise Agility Awards organised by BNC publishing. The evnet was held in Doha Qatar. The Enterprise Agility Awards recognise and honour enterprise leaders and individuals who have distinguished themselves and shown sector significance and outstanding business conduct across a variety of industries that are key drivers of respective Middle East s economies. GWC was recognised with the Enterprise Agility Award 2016 for Logistics Innovation at the event said a statement from the company. Abdulaziz Al Sahlawi director of public relations GWC said: We are delighted for the recognition that our company has received towards developing innovative solutions and bespoke infrastructure in line with our clients needs and requirements. Sheikh Abdulla bin Fahad bin Jassem ...
Big 5 the largest construction and building industry showcase in the Middle East region opens today (November 21) in Dubai UAE with more than 3 100 exhibitors from 142 countries across the globe taking part. From Nov 21 to 24 The Big 5 2016 is expected to attract 75 000 participants across the entire Dubai World Trade Centre venue along with several national pavilions including that of the Business France Italy and Brazil. The region s high-profile event will highlight the latest products and trends in the building and construction industry while focusing on smooth delivery of 2 trillion worth of construction projects in Gulf countries said the organisers dmg events. The construction sector is considered among the key pillars of Dubai s economy beside trade tourism and banking it stated. According to a recent international report the value of Dubai s construction projects in the execution and p...
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Big 5 the largest construction and building industry showcase in the Middle East region opens today (November 21) in Dubai UAE with more than 3 100 exhibitors from 142 countries across the globe taking part. From Nov 21 to 24 The Big 5 2016 is expected to attract 75 000 participants across the entire Dubai World Trade Centre venue along with several national pavilions including that of the Business France Italy and Brazil. The region s high-profile event will highlight the latest products and trends in the building and construction industry while focusing on smooth delivery of 2 trillion worth of construction projects in Gulf countries said the organisers dmg events. The construction sector is considered among the key pillars of Dubai s economy beside trade tourism and banking it stated. According to a recent international report the value of Dubai s construction projects in the execution and p...
The building and construction sector in Dubai s Jebel Ali Free Zone (Jafza) a DP World Company and the UAE s flagship trade and logistics hub posted a solid growth in the number of registered companies from June 2015 to June 2016. The construction and building material sector in Jafza is among the country s leading employment generators with a workforce of over 18 800 occupying an area of 3.56 million square metres of combined facilities. The 14 per cent jump in registeration is largely driven by the continued focus of the GCC countries on developing infrastructure and by the economic stimulus generated by Expo 2020 projects said a senior official ahead of the Big 5 expo to be held in Dubai. Jafza is also participating in the top construction industry event in the Middle East to highlight opportunities in the GCC s rapidly growing construction market and in Jafza s position as the region s leading...
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The building and construction sector in Dubai s Jebel Ali Free Zone (Jafza) a DP World Company and the UAE s flagship trade and logistics hub posted a solid growth in the number of registered companies from June 2015 to June 2016. The construction and building material sector in Jafza is among the country s leading employment generators with a workforce of over 18 800 occupying an area of 3.56 million square metres of combined facilities. The 14 per cent jump in registeration is largely driven by the continued focus of the GCC countries on developing infrastructure and by the economic stimulus generated by Expo 2020 projects said a senior official ahead of the Big 5 expo to be held in Dubai. Jafza is also participating in the top construction industry event in the Middle East to highlight opportunities in the GCC s rapidly growing construction market and in Jafza s position as the region s leading...
Many transportation and logistics (T&L) companies need to refine their current business models to capitalise on opportunities in industry segments that are attractive in terms of both growth and returns according to a new report. Some T&L companies have succeeded in combining strong growth with high returns while for many others this has been an elusive goal said the report titled Transportation and Logistics in a Changing World: The Journey Back to Profitable Growth released by The Boston Consulting Group (BCG) a global management consulting firm. To understand what sets apart the top performers BCG conducted an industry-level analysis of critical performance metrics and complemented it with detailed analyses of business segments and individual companies. T&L players in the Middle East can definitely leverage the findings of the report to become more profitable; however they will need to confront ...
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Many transportation and logistics (T&L) companies need to refine their current business models to capitalise on opportunities in industry segments that are attractive in terms of both growth and returns according to a new report. Some T&L companies have succeeded in combining strong growth with high returns while for many others this has been an elusive goal said the report titled Transportation and Logistics in a Changing World: The Journey Back to Profitable Growth released by The Boston Consulting Group (BCG) a global management consulting firm. To understand what sets apart the top performers BCG conducted an industry-level analysis of critical performance metrics and complemented it with detailed analyses of business segments and individual companies. T&L players in the Middle East can definitely leverage the findings of the report to become more profitable; however they will need to confront ...
Oman Logistics Company a wholly government-owned entity has signed several deals making further headway in the development of a logistics hub in South Al Batinah Governorate said a report. Contracts have been signed with a number of investors for the establishment of among other things temperature-controlled warehouses conventional covered structures and open-yard areas for the storage of goods added the Oman Daily Observer report. While some of the new tenants are direct investors others are third party logistics (3PL) service providers it said. Oman Logistics Company is overseeing the implementation of Khazaen the Sultanate s flagship integrated logistics hub in South Al Batinah Governorate. Ahmed bin Said al Azkawi acting CEO of Oman Logistics Co described the Khazaen initiative as an integral part of the Omani government s efforts to create a logistics-centric economy in th...
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Oman Logistics Company a wholly government-owned entity has signed several deals making further headway in the development of a logistics hub in South Al Batinah Governorate said a report. Contracts have been signed with a number of investors for the establishment of among other things temperature-controlled warehouses conventional covered structures and open-yard areas for the storage of goods added the Oman Daily Observer report. While some of the new tenants are direct investors others are third party logistics (3PL) service providers it said. Oman Logistics Company is overseeing the implementation of Khazaen the Sultanate s flagship integrated logistics hub in South Al Batinah Governorate. Ahmed bin Said al Azkawi acting CEO of Oman Logistics Co described the Khazaen initiative as an integral part of the Omani government s efforts to create a logistics-centric economy in th...
With average residential values down 7.4 per cent during the past twelve months the rate of decline is expected to slow heading into 2017 before reaching a new base towards the end of next year according to international real estate consultancy Cluttons. The values slipped by a further 2.6 per cent during the third quarter leaving them 26.7 per cent below the last market high in the third quarter of 2008 stated Cluttons in its Dubai Winter 2016/2017 Property Market Outlook report. With values expected to stabilise towards the end of 2017 key triggers to slow the decline are likely to continue emerging in the form of infrastructure projects linked to the World Expo in 2020 and other mega projects it said. These will help to sustain or lift public sentiment which has proved instrumental in keeping the emirate s economic growth profile the most positive in the region he added. Murray Strang the head of Clut...
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With average residential values down 7.4 per cent during the past twelve months the rate of decline is expected to slow heading into 2017 before reaching a new base towards the end of next year according to international real estate consultancy Cluttons. The values slipped by a further 2.6 per cent during the third quarter leaving them 26.7 per cent below the last market high in the third quarter of 2008 stated Cluttons in its Dubai Winter 2016/2017 Property Market Outlook report. With values expected to stabilise towards the end of 2017 key triggers to slow the decline are likely to continue emerging in the form of infrastructure projects linked to the World Expo in 2020 and other mega projects it said. These will help to sustain or lift public sentiment which has proved instrumental in keeping the emirate s economic growth profile the most positive in the region he added. Murray Strang the head of Clut...
Emirates Global Aluminium (Ega) one of the world s leading aluminium producers said it has reached a major milestone in the construction of its Dh11-billion ( 3 billion) Al Taweelah alumina refinery with 60 per cent completion of the calciners section of the project. The Al Taweelah alumina refinery is currently one of the largest industrial construction sites in the UAE with 5 900 people working on site. Peak construction manpower is expected to be more than 10 000. A ceremony was held to celebrate the construction milestone which was attended by Ega s executive vice-president (upstream) Yousuf Bastaki along with Finnish ambassador Riitta Swan and Markku Teräsvasara the chief executive of Finland-headquartered global minerals and metals technology company Outotec. The construction of the refinery is progressing well with 37 per cent of the project already completed. It is expected to be ready in the first quarter of 20...
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Emirates Global Aluminium (Ega) one of the world s leading aluminium producers said it has reached a major milestone in the construction of its Dh11-billion ( 3 billion) Al Taweelah alumina refinery with 60 per cent completion of the calciners section of the project. The Al Taweelah alumina refinery is currently one of the largest industrial construction sites in the UAE with 5 900 people working on site. Peak construction manpower is expected to be more than 10 000. A ceremony was held to celebrate the construction milestone which was attended by Ega s executive vice-president (upstream) Yousuf Bastaki along with Finnish ambassador Riitta Swan and Markku Teräsvasara the chief executive of Finland-headquartered global minerals and metals technology company Outotec. The construction of the refinery is progressing well with 37 per cent of the project already completed. It is expected to be ready in the first quarter of 20...
Qatar s Supreme Committee for Delivery and Legacy has reached an agreement with the global Building and Wood Workers International (BWI) group for joint inspections of its World Cup 2022 construction sites besides the workers accommodation. The BWI represents more than 300 trade unions representing some 12 million members globally. Qatar World Cup 2022 organisers under fire over labour conditions on Tuesday said it will allow international trade union inspections of stadium sites from next year according to AFP. The confederation has been critical of Qatar in the past urging it stop abuse of workers. Last year it stated that proposed reforms do not go far enough. The Supreme Committee said the partnership with BWI was a major step and comes as Qatar prepares to dramatically increase the number of labourers working on World Cup projects from around 10 000 to more than 30 000 over the next year. ...
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Qatar s Supreme Committee for Delivery and Legacy has reached an agreement with the global Building and Wood Workers International (BWI) group for joint inspections of its World Cup 2022 construction sites besides the workers accommodation. The BWI represents more than 300 trade unions representing some 12 million members globally. Qatar World Cup 2022 organisers under fire over labour conditions on Tuesday said it will allow international trade union inspections of stadium sites from next year according to AFP. The confederation has been critical of Qatar in the past urging it stop abuse of workers. Last year it stated that proposed reforms do not go far enough. The Supreme Committee said the partnership with BWI was a major step and comes as Qatar prepares to dramatically increase the number of labourers working on World Cup projects from around 10 000 to more than 30 000 over the next year. ...
Despite slowing economic conditions which continue to hamper the property market in Bahrain there has been a marked stabilisation across most real estate sectors in the second half that is expected to carry into 2017 according to international real estate consultancy Cluttons. The resilience of rental budgets in the residential market which in the face of economic fallout and rising inflation continue to outperform expectations stated Cluttons in its Bahrain 2016/2017 Winter Property Market Outlook report. On the residential market Cluttons research shows that with the exception of Amwaj Islands where there was a marginal BD50 ( 128) per month rise in rents for four-bedroom villas no other submarket in the kingdom registered any change in rents during the third quarter. The only exception was a BD 0.50 per sq m rise in Financial Harbour (BD 8 per sq m) and Amwaj Islands (BD5.50 per sq m) for fitted office space. ...
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Despite slowing economic conditions which continue to hamper the property market in Bahrain there has been a marked stabilisation across most real estate sectors in the second half that is expected to carry into 2017 according to international real estate consultancy Cluttons. The resilience of rental budgets in the residential market which in the face of economic fallout and rising inflation continue to outperform expectations stated Cluttons in its Bahrain 2016/2017 Winter Property Market Outlook report. On the residential market Cluttons research shows that with the exception of Amwaj Islands where there was a marginal BD50 ( 128) per month rise in rents for four-bedroom villas no other submarket in the kingdom registered any change in rents during the third quarter. The only exception was a BD 0.50 per sq m rise in Financial Harbour (BD 8 per sq m) and Amwaj Islands (BD5.50 per sq m) for fitted office space. ...
A total of 42 construction companies and workers walked away with the Taqdeer Award the world s first points-based award programme for recognising excellence in labour welfare practices at a special ceremony held in Dubai UAE. The ceremony was attended by decision-makers and leaders from local and international government bodies labour organisations and private companies said a statement from the organisers. The award was launched under the patronage of Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum Crown Prince of Dubai and chairman of Dubai Executive Council. Furthermore the winners were honoured by Sheikh Ahmed bin Mohammed bin Rashid Al Maktoum chairman of Mohammed bin Rashid Al Maktoum Foundation it said. Hussein Nasser Lootah director general of Dubai Municipality and president of the judging committee said: The committee has worked diligently to achieve the desired goals of this award. Wi...
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A total of 42 construction companies and workers walked away with the Taqdeer Award the world s first points-based award programme for recognising excellence in labour welfare practices at a special ceremony held in Dubai UAE. The ceremony was attended by decision-makers and leaders from local and international government bodies labour organisations and private companies said a statement from the organisers. The award was launched under the patronage of Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum Crown Prince of Dubai and chairman of Dubai Executive Council. Furthermore the winners were honoured by Sheikh Ahmed bin Mohammed bin Rashid Al Maktoum chairman of Mohammed bin Rashid Al Maktoum Foundation it said. Hussein Nasser Lootah director general of Dubai Municipality and president of the judging committee said: The committee has worked diligently to achieve the desired goals of this award. Wi...
NIA Limited a UAE-based enterprise dealing in home appliances and HVAC (heating ventilation and air conditioning) solutions has opened a sprawling new headquarters at Jebel Ali free zone area (Jafza) in Dubai. The brand new facility will function as the design marketing and logistics centre for the company s marketing and warehousing requirements. The launch of this facility is an important step forward in NIA s strategy strengthening our competitive position in the Middle East and Africa region stated Zakir Ahmed the managing director of NIA Limited UAE. Our new facility will house 14 000 sq m of office space 3000 sq m of office area and a warehouse spanning 9 000 sq m he explained. The new facility will offer a wide range of services including a technology centre displaying the latest developments in air conditioning an academy for training and certification of engineers a...
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NIA Limited a UAE-based enterprise dealing in home appliances and HVAC (heating ventilation and air conditioning) solutions has opened a sprawling new headquarters at Jebel Ali free zone area (Jafza) in Dubai. The brand new facility will function as the design marketing and logistics centre for the company s marketing and warehousing requirements. The launch of this facility is an important step forward in NIA s strategy strengthening our competitive position in the Middle East and Africa region stated Zakir Ahmed the managing director of NIA Limited UAE. Our new facility will house 14 000 sq m of office space 3000 sq m of office area and a warehouse spanning 9 000 sq m he explained. The new facility will offer a wide range of services including a technology centre displaying the latest developments in air conditioning an academy for training and certification of engineers a...
The GCC hospitality industry remains firm on its growth trajectory with projects worth 23.5 billion under construction in the key markets of Saudi Arabia and the UAE said a report ahead of a key industry event in Dubai. The nineth edition of Hotelier Summit (UAE and Saudi Arabia) will be held on December 6 to 7 at Al Bustan Rotana said the event organiser IDE. The conference is aimed at helping the UAE and Saudi Arabia to boost partnerships opportunities among key decision makers and suppliers in regional hospitality sector. The ongoing projects in region have a combined estimated value of 104.4 billion of which 15 are either in UAE or the Saudi Arabia with a total value of 23.5 billion stated the organisers citing an Alpen Capital report. The market is expected to grow at a 7.6 per cent CAGR from an estimated 25.4 billion in 2015 to 36.7 billion in 2020. The regional governments support the ...
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The GCC hospitality industry remains firm on its growth trajectory with projects worth 23.5 billion under construction in the key markets of Saudi Arabia and the UAE said a report ahead of a key industry event in Dubai. The nineth edition of Hotelier Summit (UAE and Saudi Arabia) will be held on December 6 to 7 at Al Bustan Rotana said the event organiser IDE. The conference is aimed at helping the UAE and Saudi Arabia to boost partnerships opportunities among key decision makers and suppliers in regional hospitality sector. The ongoing projects in region have a combined estimated value of 104.4 billion of which 15 are either in UAE or the Saudi Arabia with a total value of 23.5 billion stated the organisers citing an Alpen Capital report. The market is expected to grow at a 7.6 per cent CAGR from an estimated 25.4 billion in 2015 to 36.7 billion in 2020. The regional governments support the ...
Top international and regional food and beverage (F&B) logistics experts met today (November 8) at the Food Logistics Forum a knowledge sharing platform at Gulfood Manufacturing taking place in Dubai UAE. Gulfood Manufacturing which opened on November 7 will run until November 9 at the Dubai World Trade Centre (DWTC). The Food Logistics Forum is the region s only specific logistics event for the F&B industry. Nadia Abdul Aziz president of the UAE s National Association of Freight and Logistics (NAFL) the forum s official logistics partner noted that Dubai is well-positioned to strengthen its positon as a global logistics hub said a statement. With more than 30 of the sector s key decision-makers and influencers probing various strategies needed by the F&B sector to adapt to new economic realities Aziz stated: Dubai s strategic location and exceptional connectivity...
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Top international and regional food and beverage (F&B) logistics experts met today (November 8) at the Food Logistics Forum a knowledge sharing platform at Gulfood Manufacturing taking place in Dubai UAE. Gulfood Manufacturing which opened on November 7 will run until November 9 at the Dubai World Trade Centre (DWTC). The Food Logistics Forum is the region s only specific logistics event for the F&B industry. Nadia Abdul Aziz president of the UAE s National Association of Freight and Logistics (NAFL) the forum s official logistics partner noted that Dubai is well-positioned to strengthen its positon as a global logistics hub said a statement. With more than 30 of the sector s key decision-makers and influencers probing various strategies needed by the F&B sector to adapt to new economic realities Aziz stated: Dubai s strategic location and exceptional connectivity...
Over the last four years there has been a paradigm shift in the structure of transaction activity in the Dubai real estate market says a report. Historically the majority of transactions would be on a cash basis with mortgages accounting for only 25 per cent of overall sales. However in recent years this situation has inverted where now mortgage transactions account for the bulk of the activity said the Reidin report. This shift can be attributed to an increase in homeownership existing owners extracting liquidity and investors optimising on capital structures it said. The increase in homeownership in certain communities can be witnessed through the buying patters. Typically home-owners tend to buy larger size units compared to studios and one bedrooms. An analysis of transactional activity by unit size in Greens and Downtown communities reveals that in the last six years the former has experienced an in...
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Over the last four years there has been a paradigm shift in the structure of transaction activity in the Dubai real estate market says a report. Historically the majority of transactions would be on a cash basis with mortgages accounting for only 25 per cent of overall sales. However in recent years this situation has inverted where now mortgage transactions account for the bulk of the activity said the Reidin report. This shift can be attributed to an increase in homeownership existing owners extracting liquidity and investors optimising on capital structures it said. The increase in homeownership in certain communities can be witnessed through the buying patters. Typically home-owners tend to buy larger size units compared to studios and one bedrooms. An analysis of transactional activity by unit size in Greens and Downtown communities reveals that in the last six years the former has experienced an in...
LuLu Group International the Abu Dhabi-based retail and hospitality group further expanded its operations by inaugurating food processing and logistics bases in the US reported the Gulf Daily News our sister publication. Y International a wholly owned subsidiary of the group launched its operation in Lyndhurst New Jersey said a statement from the company. The world-class export centre will purchase process re-label and export food non-food chilled and frozen products made in the US. In the first phase there are 75 employees which is expected to eventually grow to 200 to 250 employees within one year it said. The facility was formally inaugurated jointly by Mayor Robert B Giangeruso Mayor Michael J McPartland and Vinai Thummalapally the executive director of Select USA in the presence of Yusuffali MA chairman; Saifee Rupawala CEO; Ashraf Ali MA executive director; and Mohd Althaf director of LuLu Group it add...
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LuLu Group International the Abu Dhabi-based retail and hospitality group further expanded its operations by inaugurating food processing and logistics bases in the US reported the Gulf Daily News our sister publication. Y International a wholly owned subsidiary of the group launched its operation in Lyndhurst New Jersey said a statement from the company. The world-class export centre will purchase process re-label and export food non-food chilled and frozen products made in the US. In the first phase there are 75 employees which is expected to eventually grow to 200 to 250 employees within one year it said. The facility was formally inaugurated jointly by Mayor Robert B Giangeruso Mayor Michael J McPartland and Vinai Thummalapally the executive director of Select USA in the presence of Yusuffali MA chairman; Saifee Rupawala CEO; Ashraf Ali MA executive director; and Mohd Althaf director of LuLu Group it add...
GFH Real Estate (GFHRE) the real estate arm of the GFH Financial Group said it has signed an Escrow agreement with Khaleeji Commercial Bank (KHCB) a Bahrain-based Islamic retail bank for its upcoming prime waterfront project Harbour Row. As per the deal KHCB will be the project s escrow agent in line with the new regulations in Bahrain (Law No. 28 of 2014) aimed at implementing global standard practices for real estate development and sales and targeting the preservation of buyers and all project stakeholders for its newly-launched Harbour Row Project according to GFHRE. The Harbour Row Project which is part of the larger development Bahrain Financial Harbour in Manama is a prime waterfront development which will comprise six buildings in total and 450 residential units supported by full leisure and commercial facilities and an active promenade extending over around 1 km. Commenting on the deal Majed Al Khan the chief ex...
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GFH Real Estate (GFHRE) the real estate arm of the GFH Financial Group said it has signed an Escrow agreement with Khaleeji Commercial Bank (KHCB) a Bahrain-based Islamic retail bank for its upcoming prime waterfront project Harbour Row. As per the deal KHCB will be the project s escrow agent in line with the new regulations in Bahrain (Law No. 28 of 2014) aimed at implementing global standard practices for real estate development and sales and targeting the preservation of buyers and all project stakeholders for its newly-launched Harbour Row Project according to GFHRE. The Harbour Row Project which is part of the larger development Bahrain Financial Harbour in Manama is a prime waterfront development which will comprise six buildings in total and 450 residential units supported by full leisure and commercial facilities and an active promenade extending over around 1 km. Commenting on the deal Majed Al Khan the chief ex...
Bahrain s real estate sector has seen steady growth this year with the number of construction permits issued increasing by 43 per cent in the past one year it has been revealed by a senior minister. The growth proves the soundness of the legal procedures taken by the government to protect this vital sector and ensure the rights of all stakeholders whose confidence in it has become stronger than ever Deputy Premier and chairman of the Ministerial Committee for Urbanisation and Infrastructure Shaikh Khalid bin Abdulla Al Khalifa was quoted as saying by BNA news agency. Speaking after opening the Bahrain International Property Exhibition (Bipex 2016) (November 3) he said the implementation of the real estate-related decisions and the recent positive indicators resulting from it have proved to everyone the importance of the legal regulation of the sector to ensure the non-recurrence of the issue of stalling real estate development projects....
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Bahrain s real estate sector has seen steady growth this year with the number of construction permits issued increasing by 43 per cent in the past one year it has been revealed by a senior minister. The growth proves the soundness of the legal procedures taken by the government to protect this vital sector and ensure the rights of all stakeholders whose confidence in it has become stronger than ever Deputy Premier and chairman of the Ministerial Committee for Urbanisation and Infrastructure Shaikh Khalid bin Abdulla Al Khalifa was quoted as saying by BNA news agency. Speaking after opening the Bahrain International Property Exhibition (Bipex 2016) (November 3) he said the implementation of the real estate-related decisions and the recent positive indicators resulting from it have proved to everyone the importance of the legal regulation of the sector to ensure the non-recurrence of the issue of stalling real estate development projects....
China State Construction Engineering Corporation (China Construction) has been awarded a Dh554-million ( 148 million) contract by leading luxury property developer Damac to build the Paramount Residences at the Paramount Tower Hotel and Residences in Dubai UAE. As per the deal China Construction will be the main contractor for the construction of 27 floors that comprise a collection of luxury residences on Paramount Tower Hotel & Residences an 867-key luxury tower on Sheikh Zayed Road. The residences are located on levels 37 to 63 of the 64-storey hotel and hotel residences project which will offer a sky lobby with views across the Burj area a private Paramount Pictures screening room a rooftop infinity swimming pool with a terrace and a fitness and wellness centre with a hi-tech spa. The project is scheduled for completion in the first quarter of 2020 said Mohammed Tahaineh senior vice president (commercial) after signing the ag...
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China State Construction Engineering Corporation (China Construction) has been awarded a Dh554-million ( 148 million) contract by leading luxury property developer Damac to build the Paramount Residences at the Paramount Tower Hotel and Residences in Dubai UAE. As per the deal China Construction will be the main contractor for the construction of 27 floors that comprise a collection of luxury residences on Paramount Tower Hotel & Residences an 867-key luxury tower on Sheikh Zayed Road. The residences are located on levels 37 to 63 of the 64-storey hotel and hotel residences project which will offer a sky lobby with views across the Burj area a private Paramount Pictures screening room a rooftop infinity swimming pool with a terrace and a fitness and wellness centre with a hi-tech spa. The project is scheduled for completion in the first quarter of 2020 said Mohammed Tahaineh senior vice president (commercial) after signing the ag...
Jebel Ali Free Zone (Jafza) Dubai and the UAE s flagship trade and logistics hub held a forum recently with the aim of strengthening the logistics and supply chain sector companies based in the free zone. The forum was attended by industry leaders key officials from partner entities and senior management from Jafza. Speaking on the occasion Talal Al Hashimi chief operating officer at Jafza stressed upon the advantages of UAE s strategic location bridging the East and West supported by superior infrastructure and well-connected efficient logistics through multi-modal connectivity. He added that the logistics industry is reaping the benefits of a strong growth in the volume of trade between Asia Africa and Europe. Al Hashimi said: Jafza is home to several multi-national logistics companies who need a speedy efficient and secure international trade supply chain. Locally and regionally overall cons...
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Jebel Ali Free Zone (Jafza) Dubai and the UAE s flagship trade and logistics hub held a forum recently with the aim of strengthening the logistics and supply chain sector companies based in the free zone. The forum was attended by industry leaders key officials from partner entities and senior management from Jafza. Speaking on the occasion Talal Al Hashimi chief operating officer at Jafza stressed upon the advantages of UAE s strategic location bridging the East and West supported by superior infrastructure and well-connected efficient logistics through multi-modal connectivity. He added that the logistics industry is reaping the benefits of a strong growth in the volume of trade between Asia Africa and Europe. Al Hashimi said: Jafza is home to several multi-national logistics companies who need a speedy efficient and secure international trade supply chain. Locally and regionally overall cons...
The construction firms pricing across Saudi Arabia has become more competitive leading to a drop in costs of 10 to 15 per cent per sq m reported the Gulf Daily News our sister publication. For furrther details visit https://www.gdnonline.com . ...
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The construction firms pricing across Saudi Arabia has become more competitive leading to a drop in costs of 10 to 15 per cent per sq m reported the Gulf Daily News our sister publication. For furrther details visit https://www.gdnonline.com . ...
In a major move Saudi Capital Market Authority Board has given approval to expats living in the country to trade in the units of the real estate investment trust (REIT) traded funds in the Saudi bourse (Tadawul) said a report. The final version of the REIT Instructions was given the go-ahead by The Saudi Capital Market Authority Board yesterday (October 30) reported the Saudi Gazette. The instructions the draft of which was published by the Capital Market Authority (CMA) in August cover the management operation and ownership of the funds. The capital markets regulator dubbed REIT as a real estate investment fund that is publicly offered and the units of which are traded on the exchange and whose primary investment objective is to invest in constructionally-developed real estates that generate periodic income; this includes residen...
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In a major move Saudi Capital Market Authority Board has given approval to expats living in the country to trade in the units of the real estate investment trust (REIT) traded funds in the Saudi bourse (Tadawul) said a report. The final version of the REIT Instructions was given the go-ahead by The Saudi Capital Market Authority Board yesterday (October 30) reported the Saudi Gazette. The instructions the draft of which was published by the Capital Market Authority (CMA) in August cover the management operation and ownership of the funds. The capital markets regulator dubbed REIT as a real estate investment fund that is publicly offered and the units of which are traded on the exchange and whose primary investment objective is to invest in constructionally-developed real estates that generate periodic income; this includes residen...
UAE-based Pravarthi Building Contracting has announced the opening of its new headquarters a 22 000-sq-ft facility at the Jebel Ali Free Zone (Jafza) in Dubai. Pravarthi is a specialist in building quality industrial premises for UAE construction projects that combine office space with engineering projects involving specialist knowledge of reinforced concrete. Bollywood actor Shah Rukh Khan inaugurated the facility in the presence of Mohammad Al Muallem the managing director and senior vice president at Dubai Ports World Madiha Salem the director of Environmental Health and Safety Department at Trakhees and T Raveendran the mayor of the south Indian city of Kozhikode in Kerala. The new facility would be the centre for production and trading of fire protection equipment. A special 6 500-sq-ft Vibrant Zone has been set up with badminton courts sheesha corner and full-fledged facility for relaxation and friendly meets...
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UAE-based Pravarthi Building Contracting has announced the opening of its new headquarters a 22 000-sq-ft facility at the Jebel Ali Free Zone (Jafza) in Dubai. Pravarthi is a specialist in building quality industrial premises for UAE construction projects that combine office space with engineering projects involving specialist knowledge of reinforced concrete. Bollywood actor Shah Rukh Khan inaugurated the facility in the presence of Mohammad Al Muallem the managing director and senior vice president at Dubai Ports World Madiha Salem the director of Environmental Health and Safety Department at Trakhees and T Raveendran the mayor of the south Indian city of Kozhikode in Kerala. The new facility would be the centre for production and trading of fire protection equipment. A special 6 500-sq-ft Vibrant Zone has been set up with badminton courts sheesha corner and full-fledged facility for relaxation and friendly meets...
A new breed of intelligent logistics solutions could save five per cent of the UAE s multi-billion food wastage according to experts ahead of a major industry event in Dubai UAE. The Logistics Solutions Middle East - a dedicated zone within Gulfood Manufacturing expo - will be held from November 7 to 9 at the Dubai World Trade Centre (DWTC). As food wastage becomes a key global public and social issue suppliers and transport providers say the stage is set for innovation to transform the way the UAE handles its food distribution and re-exports. Transformational technology and systems will be in focus at the upcoming Logistics Solutions Middle East as the industry moves to shave the country s food wastage bill currently put at 3.27 million tonnes worth some Dh13.6 billion ( 3.7 billion) by Abu Dhabi s Massar Solutions. The UN s Food and Agriculture Association has clearly stated that subs...
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A new breed of intelligent logistics solutions could save five per cent of the UAE s multi-billion food wastage according to experts ahead of a major industry event in Dubai UAE. The Logistics Solutions Middle East - a dedicated zone within Gulfood Manufacturing expo - will be held from November 7 to 9 at the Dubai World Trade Centre (DWTC). As food wastage becomes a key global public and social issue suppliers and transport providers say the stage is set for innovation to transform the way the UAE handles its food distribution and re-exports. Transformational technology and systems will be in focus at the upcoming Logistics Solutions Middle East as the industry moves to shave the country s food wastage bill currently put at 3.27 million tonnes worth some Dh13.6 billion ( 3.7 billion) by Abu Dhabi s Massar Solutions. The UN s Food and Agriculture Association has clearly stated that subs...
More than 125 exhibitors from 25 countries as well as over 11 000 private and institutional investors and real estate brokers will take part in the eighth edition of the International Real Estate & Investment Show (Ireis 2016) which opens on Thursday (October 27) in Abu Dhabi UAE. The event is expected to draw the participation of more than 125 exhibitors from 25 countries as well as over 11 000 regular private and institutional investors end-users developers and real estate brokers The three-day event aims to spotlight the latest investment opportunities in the real estate sector across the Middle East Europe and the Asia-Pacific regions. As part of the agenda the event will host a free-to-attend international conference at the Abu Dhabi National Exhibition Centre (Adnec) to highlight key global and regional real estate market trends as well as dual citizenship opportunities for investors through convening panelists and ...
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More than 125 exhibitors from 25 countries as well as over 11 000 private and institutional investors and real estate brokers will take part in the eighth edition of the International Real Estate & Investment Show (Ireis 2016) which opens on Thursday (October 27) in Abu Dhabi UAE. The event is expected to draw the participation of more than 125 exhibitors from 25 countries as well as over 11 000 regular private and institutional investors end-users developers and real estate brokers The three-day event aims to spotlight the latest investment opportunities in the real estate sector across the Middle East Europe and the Asia-Pacific regions. As part of the agenda the event will host a free-to-attend international conference at the Abu Dhabi National Exhibition Centre (Adnec) to highlight key global and regional real estate market trends as well as dual citizenship opportunities for investors through convening panelists and ...
Shuaa Energy 1 the primary investor and developer for the second phase of the Mohammad bin Rashid Solar Park in Dubai said it has crossed the 50 per cent threshold for construction of the project. Once complete the second phase will supply Dubai with an additional 200 MW of solar power with 900 employees currently working across a surface area of 4.4 sq km to help deliver the project in a record 12-month timeframe said a statement from Acwa Power. Saudi-based Acwa is a developer investor co-owner and operator of a portfolio of power generation and desalinated water production plants currently with presence in 11 countries including in the Middle East and North Africa (Mena) Southern Africa and South East Asia regions. The project will see the installation of over 2.3 million solar panels that has enough capacity to power 30 000 homes in the emirate. It will also become the city s first project to be de...
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Shuaa Energy 1 the primary investor and developer for the second phase of the Mohammad bin Rashid Solar Park in Dubai said it has crossed the 50 per cent threshold for construction of the project. Once complete the second phase will supply Dubai with an additional 200 MW of solar power with 900 employees currently working across a surface area of 4.4 sq km to help deliver the project in a record 12-month timeframe said a statement from Acwa Power. Saudi-based Acwa is a developer investor co-owner and operator of a portfolio of power generation and desalinated water production plants currently with presence in 11 countries including in the Middle East and North Africa (Mena) Southern Africa and South East Asia regions. The project will see the installation of over 2.3 million solar panels that has enough capacity to power 30 000 homes in the emirate. It will also become the city s first project to be de...
Construction will shortly begin on the Gate Avenue at DIFC the new urban cultural and entertainment development at the Dubai International Financial Centre that promises to change the face of urban space and living in Dubai UAE. Habtoor Leighton Group (HLG) a leading specialist contractor in the region was awarded the Dh500-million ( 136 million) contract for construction and land preparation for one of the biggest property projects in Dubai. Gate Avenue at DIFC also represents DIFC s largest current project which is already attracting wide interest from the business and retail communities. Gate Avenue at DIFC is already worth Dh450 million approximately with the existing truck tunnel and masterplan infrastructure in place. Combined with the new contract this will elevate the full development cost to an estimated Dh1 billion reflecting the size scope and ambition of this major project. Set for the first phase...
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Construction will shortly begin on the Gate Avenue at DIFC the new urban cultural and entertainment development at the Dubai International Financial Centre that promises to change the face of urban space and living in Dubai UAE. Habtoor Leighton Group (HLG) a leading specialist contractor in the region was awarded the Dh500-million ( 136 million) contract for construction and land preparation for one of the biggest property projects in Dubai. Gate Avenue at DIFC also represents DIFC s largest current project which is already attracting wide interest from the business and retail communities. Gate Avenue at DIFC is already worth Dh450 million approximately with the existing truck tunnel and masterplan infrastructure in place. Combined with the new contract this will elevate the full development cost to an estimated Dh1 billion reflecting the size scope and ambition of this major project. Set for the first phase...
Name of client : National Shipping Company of Saudi Arabia (Bahri) Budget: 2 billion Facility type: Very Large Crude Carriers (VLCCs) Sector: Oil Status: Construction Location: Various Main contractor: HSHI Hyundai Samho Heavy Industries Background Saudi s National Shipping Company of Saudi Arabia (Bahri) the exclusive oil-shipper for Saudi Aramco has signed a deal to buy five very large crude tankers from ship builders Hyundai Heavy Industries. Project status June 2016: Saudi Electricity Company (SEC) signs an agreement Bahri for the shipment of materials and equipment used in the generation transmission and distribution of electrical power. Project scope The VLCCs will be designed to t...
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Name of client : National Shipping Company of Saudi Arabia (Bahri) Budget: 2 billion Facility type: Very Large Crude Carriers (VLCCs) Sector: Oil Status: Construction Location: Various Main contractor: HSHI Hyundai Samho Heavy Industries Background Saudi s National Shipping Company of Saudi Arabia (Bahri) the exclusive oil-shipper for Saudi Aramco has signed a deal to buy five very large crude tankers from ship builders Hyundai Heavy Industries. Project status June 2016: Saudi Electricity Company (SEC) signs an agreement Bahri for the shipment of materials and equipment used in the generation transmission and distribution of electrical power. Project scope The VLCCs will be designed to t...
Holan s own journey which includes stints removing radioactive dirt from nuclear facilities and coordinating helicopters for airlifts after Hurricane Katrina began in 1977 when at the age of 14 he ran away from his Pittsburgh-area home The rows of traders who line the massive trading floor at Mercuria Energy Group s Houston headquarters rely on a string of modern conveniences to execute deals across the globe. But when they re under the gun to deliver oil fast they call one person: Tim Holan. That s because Holan the head of logistics for the trading firm cut his teeth on moving an even heavier cargo: elephants. They along with lions clowns and other performers were part of the mile-long moving city that Holan spent nearly two decades shuttling around the country as logistics manager for the Ringling Bros and Barnum & Bailey Circus. Unruly animals however well-trained have a way of making the shipping of thousands o...
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Holan s own journey which includes stints removing radioactive dirt from nuclear facilities and coordinating helicopters for airlifts after Hurricane Katrina began in 1977 when at the age of 14 he ran away from his Pittsburgh-area home The rows of traders who line the massive trading floor at Mercuria Energy Group s Houston headquarters rely on a string of modern conveniences to execute deals across the globe. But when they re under the gun to deliver oil fast they call one person: Tim Holan. That s because Holan the head of logistics for the trading firm cut his teeth on moving an even heavier cargo: elephants. They along with lions clowns and other performers were part of the mile-long moving city that Holan spent nearly two decades shuttling around the country as logistics manager for the Ringling Bros and Barnum & Bailey Circus. Unruly animals however well-trained have a way of making the shipping of thousands o...
Construction contracts for the Bahraini stretch of the 115-km new multi-million-dollar A-B pipeline between Saudi Arabia and Bahrain will be awarded before the end of the year said Bahrain s Energy Minister Dr Abdul Hussain bin Ali Mirza. The construction contracts for the 43-km Saudi onshore stretch of have been awarded. Contracts have also been awarded for the offshore 41-km stretch of the pipeline which will be completed in the second quarter of the 2018 Dr Mirza told OGN. Late last year Saudi Arabia and Bahrain signed contracts worth 300 million for the pipeline. Agreements to build the pipeline were signed with Saudi Arabia s Al Robaya Holding Company and National Petroleum Construction Company of the UAE. The cost of the pipeline will be met by nogaholding an investment vehicle which holds the Bahraini government s oil and gas assets. Earlier inaugurating the 3rd Pipeline Operations & Management Middle East Conference & Exhibition in Bahrain the...
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Construction contracts for the Bahraini stretch of the 115-km new multi-million-dollar A-B pipeline between Saudi Arabia and Bahrain will be awarded before the end of the year said Bahrain s Energy Minister Dr Abdul Hussain bin Ali Mirza. The construction contracts for the 43-km Saudi onshore stretch of have been awarded. Contracts have also been awarded for the offshore 41-km stretch of the pipeline which will be completed in the second quarter of the 2018 Dr Mirza told OGN. Late last year Saudi Arabia and Bahrain signed contracts worth 300 million for the pipeline. Agreements to build the pipeline were signed with Saudi Arabia s Al Robaya Holding Company and National Petroleum Construction Company of the UAE. The cost of the pipeline will be met by nogaholding an investment vehicle which holds the Bahraini government s oil and gas assets. Earlier inaugurating the 3rd Pipeline Operations & Management Middle East Conference & Exhibition in Bahrain the...
Layan demonstrates the lengths to which real estate developers will go to attract investors including Saudi-based oil executives looking for the perfect pad for rest and relaxation a steady rental income or as an excellent long-term investment Bin Faqeeh Real Estate Investment Company has launched its latest residential project in Bahrain. The 17 000 square metre Layan development will according to the company be eye catching in design and unique in concept with its own water park and the GCC s largest swimming pool into which water slides will tumble directly from some apartments. The water features will be the focal point of a large entertainment hub including surfing simulators and an in-pool movie theatre. More than anything Layan demonstrates the lengths to which real estate developers will now go to attract investors including Saudi-based oil executives looking for the perfect pad for rest and relaxation a steady rental income at goo...
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Layan demonstrates the lengths to which real estate developers will go to attract investors including Saudi-based oil executives looking for the perfect pad for rest and relaxation a steady rental income or as an excellent long-term investment Bin Faqeeh Real Estate Investment Company has launched its latest residential project in Bahrain. The 17 000 square metre Layan development will according to the company be eye catching in design and unique in concept with its own water park and the GCC s largest swimming pool into which water slides will tumble directly from some apartments. The water features will be the focal point of a large entertainment hub including surfing simulators and an in-pool movie theatre. More than anything Layan demonstrates the lengths to which real estate developers will now go to attract investors including Saudi-based oil executives looking for the perfect pad for rest and relaxation a steady rental income at goo...
With the subsea industry looking to cut costs Bluestream Offshore has ordered a fourth Saab Seaeye Panther XT Plus ROV to undertake tasks normally performed by hydraulic vehicles. Our clients want high-spec equipment to take on more complex construction work at a lower cost says Bluestream s managing director Rolf de Vries. For instance we have proved that many construction tasks can be undertaken by a Seaeye Panther XT Plus fitted with Schilling manipulators combined with hydraulic powered ROV tooling rather than an complex capital intensive hydraulic ROV system he adds. An electric work ROV system also needs less space fewer staff and is much faster to deploy he says which bring considerable savings in operational costs when compared to a large hydraulic work class ROV. The mobilisation window of 12 hours and wide variation of tasks increases the utilisation of the systems and so the economics he adds. We chose another Panther because it...
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With the subsea industry looking to cut costs Bluestream Offshore has ordered a fourth Saab Seaeye Panther XT Plus ROV to undertake tasks normally performed by hydraulic vehicles. Our clients want high-spec equipment to take on more complex construction work at a lower cost says Bluestream s managing director Rolf de Vries. For instance we have proved that many construction tasks can be undertaken by a Seaeye Panther XT Plus fitted with Schilling manipulators combined with hydraulic powered ROV tooling rather than an complex capital intensive hydraulic ROV system he adds. An electric work ROV system also needs less space fewer staff and is much faster to deploy he says which bring considerable savings in operational costs when compared to a large hydraulic work class ROV. The mobilisation window of 12 hours and wide variation of tasks increases the utilisation of the systems and so the economics he adds. We chose another Panther because it...
Construction of the 20-billion Sadara chemical complex in Jubail Industrial City II Saudi Arabia has reached 75 per cent and is proceeding on plan and on schedule with best-in-class performance in safety said Ziad Al Labban CEO of Sadara Chemical Company (Sadara) now the largest chemical complex ever built in the world in a single phase. During his welcome remarks at the ninth annual Gulf Petrochemicals and Chemicals Association (GPCA) conference and exhibition Al Labban also mentioned that the complex had reached peak construction with more than 54 000 dedicated construction personnel on-site at the beginning of the fourth quarter 2014. A key differentiator for Sadara is our commitment to further developing Saudi Arabia s downstream industry and the concept of Made in Saudi Arabia through the visionary idea of PlasChem Park a collaboration between Sadara and the Royal Commission for Jubail and Yanbu said Al Labban. With 14 of the 26 ma...
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Construction of the 20-billion Sadara chemical complex in Jubail Industrial City II Saudi Arabia has reached 75 per cent and is proceeding on plan and on schedule with best-in-class performance in safety said Ziad Al Labban CEO of Sadara Chemical Company (Sadara) now the largest chemical complex ever built in the world in a single phase. During his welcome remarks at the ninth annual Gulf Petrochemicals and Chemicals Association (GPCA) conference and exhibition Al Labban also mentioned that the complex had reached peak construction with more than 54 000 dedicated construction personnel on-site at the beginning of the fourth quarter 2014. A key differentiator for Sadara is our commitment to further developing Saudi Arabia s downstream industry and the concept of Made in Saudi Arabia through the visionary idea of PlasChem Park a collaboration between Sadara and the Royal Commission for Jubail and Yanbu said Al Labban. With 14 of the 26 ma...
HI-FORCE the UK-based manufacturer of high pressure hydraulic tools has taken the delivery of a new multi-million pound purpose-built facility located at the rear of its existing UK manufacturing plant. The new facility comprising almost 20 000 sq ft of built-up area plus a 15 000 sq ft secure yard area houses the company s complete UK logistical operation from raw materials through to finished product. In addition the facility also accommodates a 1 500 sq ft ECITB (Engineering Construction Industry Training Board) approved training school. The new building is virtually self-sufficient in terms of electricity requirements thanks to its integral solar paneling within the roof area. Any unused electricity generated by the solar panels is pushed back into the national grid. Since handover of the building Hi-Force UK logistics manager Dave Summerfield has been busy organising relocation of all stock and raw materials from the existing facility to the new e...
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HI-FORCE the UK-based manufacturer of high pressure hydraulic tools has taken the delivery of a new multi-million pound purpose-built facility located at the rear of its existing UK manufacturing plant. The new facility comprising almost 20 000 sq ft of built-up area plus a 15 000 sq ft secure yard area houses the company s complete UK logistical operation from raw materials through to finished product. In addition the facility also accommodates a 1 500 sq ft ECITB (Engineering Construction Industry Training Board) approved training school. The new building is virtually self-sufficient in terms of electricity requirements thanks to its integral solar paneling within the roof area. Any unused electricity generated by the solar panels is pushed back into the national grid. Since handover of the building Hi-Force UK logistics manager Dave Summerfield has been busy organising relocation of all stock and raw materials from the existing facility to the new e...
EXPERTISE Contracting Company is one of the leading service providers in Saudi Arabia to various industries such as oil and gas refineries power and desalination chemicals petrochemicals fertilisers cement and steel. Founded in 1993 the company has etched itself as a force to reckon with in a span of 20 years. Expertise has endeavoured to provide a strong customer focused approach ensuring that no efforts are spared in providing the best quality of services to our clients and has thus established as one of the most reliable names in the market says a company spokesperson. The company operates in the following fields of services: 1. Equipment rental division: Mobile and crawler cranes; Lifting accessories: slings shackles belts lifting-beams; Air compressor welding machines diesel generators tower light water pumps; Excavators backhoe loaders loaders skid loaders forklifts rolle...
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EXPERTISE Contracting Company is one of the leading service providers in Saudi Arabia to various industries such as oil and gas refineries power and desalination chemicals petrochemicals fertilisers cement and steel. Founded in 1993 the company has etched itself as a force to reckon with in a span of 20 years. Expertise has endeavoured to provide a strong customer focused approach ensuring that no efforts are spared in providing the best quality of services to our clients and has thus established as one of the most reliable names in the market says a company spokesperson. The company operates in the following fields of services: 1. Equipment rental division: Mobile and crawler cranes; Lifting accessories: slings shackles belts lifting-beams; Air compressor welding machines diesel generators tower light water pumps; Excavators backhoe loaders loaders skid loaders forklifts rolle...
RAK International Airport and Global Aerospace Logistics (GAL) a leading provider of professional aerospace services have joined forces to develop a number of comprehensive Air Traffic Services (ATS) to ensure the safe operations of commercial and private aircraft operating out of the airport. The agreement was signed in the presence of Engr. Sheikh Salem Bin Sultan Al Qasimi chairman Department of Civil Aviation Ras Al Khaimah and chairman of RAK International Airport LLC. Under the terms of the contract GAL will provide RAK International Airport with a full array of air traffic control services from manning to the analysis of standards procedures and facilities at the airport. This will ensure that delegated authorities and operational requirements are met and that maximum effort is made to ensure flight safety. Andrew Gower CEO of RAK International Airport said: RAK International Airport has been experiencing exponential growth. It is important that w...
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RAK International Airport and Global Aerospace Logistics (GAL) a leading provider of professional aerospace services have joined forces to develop a number of comprehensive Air Traffic Services (ATS) to ensure the safe operations of commercial and private aircraft operating out of the airport. The agreement was signed in the presence of Engr. Sheikh Salem Bin Sultan Al Qasimi chairman Department of Civil Aviation Ras Al Khaimah and chairman of RAK International Airport LLC. Under the terms of the contract GAL will provide RAK International Airport with a full array of air traffic control services from manning to the analysis of standards procedures and facilities at the airport. This will ensure that delegated authorities and operational requirements are met and that maximum effort is made to ensure flight safety. Andrew Gower CEO of RAK International Airport said: RAK International Airport has been experiencing exponential growth. It is important that w...
WITH a higher demand on the supply chain and increased focus on core business there is a gradual shift from owning to outsourcing of asset-based components such as storage to third party providers. Warehousing Projects and Logistics (WPL) was initially setup in 2010 to provide the whole range of logistics services to the industry. After a review of the third party logistics services market the company felt there was a bigger need for dedicated warehousing infrastructure to conduct logistics operations. The company changed its business model from logistics services to focus mainly on logistics infrastructure. With this approach the strategy has paid off by converting the competition in the logistics industry to collaborating on client requirements. Says Abdulaziz Al Subaie CEO of WPL: We became friends with competition and end-users by recognising the inherent need for warehousing infrastructure to support the supply chain. WPL seeks to add ...
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WITH a higher demand on the supply chain and increased focus on core business there is a gradual shift from owning to outsourcing of asset-based components such as storage to third party providers. Warehousing Projects and Logistics (WPL) was initially setup in 2010 to provide the whole range of logistics services to the industry. After a review of the third party logistics services market the company felt there was a bigger need for dedicated warehousing infrastructure to conduct logistics operations. The company changed its business model from logistics services to focus mainly on logistics infrastructure. With this approach the strategy has paid off by converting the competition in the logistics industry to collaborating on client requirements. Says Abdulaziz Al Subaie CEO of WPL: We became friends with competition and end-users by recognising the inherent need for warehousing infrastructure to support the supply chain. WPL seeks to add ...
IN OIL and gas pipeline projects the welding of fatigue-sensitive SCR and flowline pipes to tight specifications is absolutely critical. Counterboring the pipes might not be a viable method of controlling pipe geometry due to cost considerations or to limitations on pipe wall thickness. So how can pipeline contractors ensure that pipe fit-up welding and pipelaying processes run smoothly with minimal interruptions? In order to prevent bottlenecks during the welding process and minimise project delays and risks oil industry owners pipelay contractors and welders need to capture record and analyse pipe end geometry quickly and accurately. This measurement data if used in the correct way can then help to ensure that pipes delivered into the bead stall will fit together within the specification requirements for welding. Typically end dimensioning and fit-up involves two main steps: measuring and fit-up. The measuring stage involves the actual collection of pipe m...
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IN OIL and gas pipeline projects the welding of fatigue-sensitive SCR and flowline pipes to tight specifications is absolutely critical. Counterboring the pipes might not be a viable method of controlling pipe geometry due to cost considerations or to limitations on pipe wall thickness. So how can pipeline contractors ensure that pipe fit-up welding and pipelaying processes run smoothly with minimal interruptions? In order to prevent bottlenecks during the welding process and minimise project delays and risks oil industry owners pipelay contractors and welders need to capture record and analyse pipe end geometry quickly and accurately. This measurement data if used in the correct way can then help to ensure that pipes delivered into the bead stall will fit together within the specification requirements for welding. Typically end dimensioning and fit-up involves two main steps: measuring and fit-up. The measuring stage involves the actual collection of pipe m...
IT WAS early November last year and 6 000 feet up in the Wasatch Mountains near Ogden Utah wet snow has turned the already rough dirt road to half-frozen mud. Although gray skies are promising more snow Kenny Glaze member of Pipeliners Union Local 798 is on his way to repair a porous weld bead on Associated Pipe Line Spread 1B part of the Ruby Pipeline project. Construction on the Ruby began on July 31 2010. The approximately 3-billion project included laying roughly 1 094 km of 42-inch natural gas transmission pipeline on a right-of-way through parts of four states: Wyoming Utah Nevada and Oregon. By the time the pipeline was fully operational it would be carrying 1.5 billion cubic feet of natural gas per day and any delays beyond the target June 30 2011 completion date would have cost considerable time and money. A 20-year pipeline veteran Glaze has worked on numerous projects throughout the US. This was the first one where he had used plasma to repai...
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IT WAS early November last year and 6 000 feet up in the Wasatch Mountains near Ogden Utah wet snow has turned the already rough dirt road to half-frozen mud. Although gray skies are promising more snow Kenny Glaze member of Pipeliners Union Local 798 is on his way to repair a porous weld bead on Associated Pipe Line Spread 1B part of the Ruby Pipeline project. Construction on the Ruby began on July 31 2010. The approximately 3-billion project included laying roughly 1 094 km of 42-inch natural gas transmission pipeline on a right-of-way through parts of four states: Wyoming Utah Nevada and Oregon. By the time the pipeline was fully operational it would be carrying 1.5 billion cubic feet of natural gas per day and any delays beyond the target June 30 2011 completion date would have cost considerable time and money. A 20-year pipeline veteran Glaze has worked on numerous projects throughout the US. This was the first one where he had used plasma to repai...
ALFANAR Construction a leading professional EPC contractor in the power and water sectors with business interests throughout the Gulf region continued its strong growth this year executing projects worth billions of dollars. Implementing projects for world leaders in Saudi Arabia such as Saudi Aramco Sabic and Saudi Electricity Company alfanar has established itself as a provider of fast-track projects says Abdullah Al Hamad division manager alfanar Construction. We currently have about 19 ongoing projects including power plants substations and transmission lines projects in Saudi Arabia. With more than 100 completed projects in these sectors alfanar has a track record of quality delivery and satisfied clients he says. Among the challenging projects undertaken by the company are the Sharoura Power Plant the 380 kV Rabigh substation the Makkah West 380 KV substation the 380 kV PP8 substation and the overhead lines in King Abdulaziz Medical City...
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ALFANAR Construction a leading professional EPC contractor in the power and water sectors with business interests throughout the Gulf region continued its strong growth this year executing projects worth billions of dollars. Implementing projects for world leaders in Saudi Arabia such as Saudi Aramco Sabic and Saudi Electricity Company alfanar has established itself as a provider of fast-track projects says Abdullah Al Hamad division manager alfanar Construction. We currently have about 19 ongoing projects including power plants substations and transmission lines projects in Saudi Arabia. With more than 100 completed projects in these sectors alfanar has a track record of quality delivery and satisfied clients he says. Among the challenging projects undertaken by the company are the Sharoura Power Plant the 380 kV Rabigh substation the Makkah West 380 KV substation the 380 kV PP8 substation and the overhead lines in King Abdulaziz Medical City...
Saudi Arabia based alfanar Construction has signed a new power generation reinforcement project for Hail-2 power plant with Saudi Electricity Company (SEC). This new project will increase the capacity of electric power and meet the growing demand for electricity and the future needs of the consumers in Saudi Arabia s Hail region. The project will enhance the generation capacity of the existing power plant by an additional 160 MW. The contract value of the project is SR 458 million ( 122 million). The project will be a fast track as the first unit will be in service before the summer of 2011. alfanar Construction has implemented several key projects in the generation sector in different parts of the kingdom including the Sharourah Power Plant worth SR358 million ( 95 million). Apart from power generation alfanar Construction is also a leading EPC player in executing critical and fast track projects in different fields such as transmission and distri...
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Saudi Arabia based alfanar Construction has signed a new power generation reinforcement project for Hail-2 power plant with Saudi Electricity Company (SEC). This new project will increase the capacity of electric power and meet the growing demand for electricity and the future needs of the consumers in Saudi Arabia s Hail region. The project will enhance the generation capacity of the existing power plant by an additional 160 MW. The contract value of the project is SR 458 million ( 122 million). The project will be a fast track as the first unit will be in service before the summer of 2011. alfanar Construction has implemented several key projects in the generation sector in different parts of the kingdom including the Sharourah Power Plant worth SR358 million ( 95 million). Apart from power generation alfanar Construction is also a leading EPC player in executing critical and fast track projects in different fields such as transmission and distri...
CANYON Offshore a subsidiary of Helix Energy Solutions Group is a leading supplier of subsea intervention services and has been operating state of the art remotely operated vehicles (ROV) support vessels and ROV trenching services globally since its inception in 1996. Canyon delivers safe modern innovative and professional solutions for critical-path deepwater construction and specialty marine contracting projects. The company currently operates over 40 ROV and trenching systems including over 35 heavy work class systems and four trenching and cable trenching systems along with five support vessels. Performing more than 1 000 projects in every offshore area of activity worldwide Canyon has significant experience and has operated at depths in excess of 2 500 m (8 000 ft). Canyon Offshore operates from three regions: Houston Aberdeen and Singapore to effectively service their international client base. Canyon specialises in providing remotely op...
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CANYON Offshore a subsidiary of Helix Energy Solutions Group is a leading supplier of subsea intervention services and has been operating state of the art remotely operated vehicles (ROV) support vessels and ROV trenching services globally since its inception in 1996. Canyon delivers safe modern innovative and professional solutions for critical-path deepwater construction and specialty marine contracting projects. The company currently operates over 40 ROV and trenching systems including over 35 heavy work class systems and four trenching and cable trenching systems along with five support vessels. Performing more than 1 000 projects in every offshore area of activity worldwide Canyon has significant experience and has operated at depths in excess of 2 500 m (8 000 ft). Canyon Offshore operates from three regions: Houston Aberdeen and Singapore to effectively service their international client base. Canyon specialises in providing remotely op...
KANOO Freight a division of Yusuf Bin Ahmed Kanoo and BDP International has announced the formation of a joint venture to serve the logistics and transportation needs of the Middle East s burgeoning chemical and petrochemical industry. The new entity named BDP Kanoo Chemical Logistics will be based in Dammam Saudi Arabia. It s a 50:50 joint venture company says Fawzi Ahmed Kanoo Board director Yusuf Bin Ahmed Kanoo Group and chairman of Kanoo Freight while announcing the new joint venture. He however did not disclose the financial terms of the agreement between the two privately held companies. The establishment of this joint venture will provide the services needed for the region to fulfil its vision of economic diversification and adding more value downstream in the hydrocarbon industries says Kanoo. With the emergence of the Middle East as a global logistics hub customers in the chemical and petrochemical secto...
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KANOO Freight a division of Yusuf Bin Ahmed Kanoo and BDP International has announced the formation of a joint venture to serve the logistics and transportation needs of the Middle East s burgeoning chemical and petrochemical industry. The new entity named BDP Kanoo Chemical Logistics will be based in Dammam Saudi Arabia. It s a 50:50 joint venture company says Fawzi Ahmed Kanoo Board director Yusuf Bin Ahmed Kanoo Group and chairman of Kanoo Freight while announcing the new joint venture. He however did not disclose the financial terms of the agreement between the two privately held companies. The establishment of this joint venture will provide the services needed for the region to fulfil its vision of economic diversification and adding more value downstream in the hydrocarbon industries says Kanoo. With the emergence of the Middle East as a global logistics hub customers in the chemical and petrochemical secto...
LEADING tank jack system manufacturer in the Middle East region Al Zamil Metal Works Factory (AZMWF) is breaking new ground in the repair and refurbishment of tank base repair with the use of jacking system. The company well known in Saudi Arabia has always adopted a systematic approach in utilising the jacking system in constructing steel tanks says Capt Ahmed Al-Tabei assistant general manager Al-Zamil Metal Works Factory. AZMWF is credited with setting records in the tank manufacturing industry in Saudi Arabia when it erected the Dome Roof Tank (31.7 metre (m) diameter by jacking system). The tank has a capacity of four million US gallons. The structure became the fresh water storage tank for Al Khafji joint operations KGOC/AGOC (Kuwait Gulf Oil Company and Aramco Gulf Oil) operating with a consortium of SETE Energy and Carlo Gavazzi. In recent developments AZMWF has entered into a relationship with Bygwikk (UK) Ltd the UK based manufacturer of Tank s J...
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LEADING tank jack system manufacturer in the Middle East region Al Zamil Metal Works Factory (AZMWF) is breaking new ground in the repair and refurbishment of tank base repair with the use of jacking system. The company well known in Saudi Arabia has always adopted a systematic approach in utilising the jacking system in constructing steel tanks says Capt Ahmed Al-Tabei assistant general manager Al-Zamil Metal Works Factory. AZMWF is credited with setting records in the tank manufacturing industry in Saudi Arabia when it erected the Dome Roof Tank (31.7 metre (m) diameter by jacking system). The tank has a capacity of four million US gallons. The structure became the fresh water storage tank for Al Khafji joint operations KGOC/AGOC (Kuwait Gulf Oil Company and Aramco Gulf Oil) operating with a consortium of SETE Energy and Carlo Gavazzi. In recent developments AZMWF has entered into a relationship with Bygwikk (UK) Ltd the UK based manufacturer of Tank s J...
THE region near where the Greek goddess Aphrodite rose up from the sea from whence she was created now boasts a real estate development known as Aphrodite Hills. Lying 17 kilometres east of the town of Paphos the resort consist of villas apartments and town houses the five star Intercontinental Aphrodite Hills Resort Hotel an 18 hole international championship golf course tennis courts as well as a tennis academy a spa plus an equestrian centre chapel and a village housing essential shops and casual restaurants. Owners and developer of the resort are Lanitis Development Public Ltd a member of the Lanitis Group of Companies. The resort is set on two plateaux on either side of a valley and its entire 578 acres still play host to ancient olive cypress and carob trees which are accompanied by many aromatic plants. Of this land only eight per cent is being developed. The Aphrodite Hills real estate development consists of 650 villas junior villas and apartments al...
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THE region near where the Greek goddess Aphrodite rose up from the sea from whence she was created now boasts a real estate development known as Aphrodite Hills. Lying 17 kilometres east of the town of Paphos the resort consist of villas apartments and town houses the five star Intercontinental Aphrodite Hills Resort Hotel an 18 hole international championship golf course tennis courts as well as a tennis academy a spa plus an equestrian centre chapel and a village housing essential shops and casual restaurants. Owners and developer of the resort are Lanitis Development Public Ltd a member of the Lanitis Group of Companies. The resort is set on two plateaux on either side of a valley and its entire 578 acres still play host to ancient olive cypress and carob trees which are accompanied by many aromatic plants. Of this land only eight per cent is being developed. The Aphrodite Hills real estate development consists of 650 villas junior villas and apartments al...
ORCHARD Road Singapore s premier shopping street is currently undergoing major landscape and infrastructure enhancements. Work on the Dh100 million project which aims to enhance the pedestrian experience along the famous road is expected to be completed by February 2009 according to the Singapore Tourism Board (STB). The revamp includes the introduction of state-of-the art lighting creating new areas to stage events introducing more integrated walkways and developing a livelier pedestrian mall. Orchard Road has consistently been ranked as the most visited attraction in Singapore and is an ideal place for Middle Eastern tourists to enjoy some of the best shopping in the world. The re-development project promises to significantly enhance the beauty of this street and will help redefine Singapore s changing landscape said Jason Ong area director Middle East and Africa STB. Our priority in planning the works schedule is to ensure that businesses along Orchard...
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ORCHARD Road Singapore s premier shopping street is currently undergoing major landscape and infrastructure enhancements. Work on the Dh100 million project which aims to enhance the pedestrian experience along the famous road is expected to be completed by February 2009 according to the Singapore Tourism Board (STB). The revamp includes the introduction of state-of-the art lighting creating new areas to stage events introducing more integrated walkways and developing a livelier pedestrian mall. Orchard Road has consistently been ranked as the most visited attraction in Singapore and is an ideal place for Middle Eastern tourists to enjoy some of the best shopping in the world. The re-development project promises to significantly enhance the beauty of this street and will help redefine Singapore s changing landscape said Jason Ong area director Middle East and Africa STB. Our priority in planning the works schedule is to ensure that businesses along Orchard...
Borouge a leading provider of innovative value creating plastics solutions has signed a service contract with Enpro Supply Chain Management Limited to build the Borouge Guangzhou Logistics Hub in the Nansha area of Guangzhou China. The contract ensures local logistics services for Borouge s customers in Asia for ten years with effect of the start up date of Borouge 2 in 2010. Enpro will undertake the design development and subsequent operation of the logistics hub in order to ensure sufficient infrastructure storage facilities packaging and distribution services. This long-term partnership fully supports Borouge s future supply chain strategy. Enpro will handle and distribute a total volume of approximately a 24 6000 tonnes of value-added polyolefins annually through the Guangzhou Logistics Hub. The signing ceremony was attended by Rashed Saud Al Shamsi Adnoc s Petrochemicals director and chairman of the Board of Directors of Borouge and Henry Sperle exec...
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Borouge a leading provider of innovative value creating plastics solutions has signed a service contract with Enpro Supply Chain Management Limited to build the Borouge Guangzhou Logistics Hub in the Nansha area of Guangzhou China. The contract ensures local logistics services for Borouge s customers in Asia for ten years with effect of the start up date of Borouge 2 in 2010. Enpro will undertake the design development and subsequent operation of the logistics hub in order to ensure sufficient infrastructure storage facilities packaging and distribution services. This long-term partnership fully supports Borouge s future supply chain strategy. Enpro will handle and distribute a total volume of approximately a 24 6000 tonnes of value-added polyolefins annually through the Guangzhou Logistics Hub. The signing ceremony was attended by Rashed Saud Al Shamsi Adnoc s Petrochemicals director and chairman of the Board of Directors of Borouge and Henry Sperle exec...
IN JUST the first four months of this year Greece-domiciled owners have placed orders for 59 new vessels to ABS class notes Robert D Somerville chairman and CEO of ABS a leading international classification society devoted to promoting the security of life property and the marine environment through the development and verification of standards for the design construction and operational maintenance of marine-related facilities. Speaking at the bi-annual Posidonia shipping exhibition in Athens Somerville says: This continued support has brought the ABS share of all worldwide orders for new ships by Greek owners to a market-leading 30 per cent demonstrating their confidence in the superior service and responsive technical support that we are able to provide here in Greece in Korea China Japan and all the other shipbuilding centres that have attracted orders from the Greek shipping community. This level of support exceeds the 22 per cent share of the existing Gre...
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IN JUST the first four months of this year Greece-domiciled owners have placed orders for 59 new vessels to ABS class notes Robert D Somerville chairman and CEO of ABS a leading international classification society devoted to promoting the security of life property and the marine environment through the development and verification of standards for the design construction and operational maintenance of marine-related facilities. Speaking at the bi-annual Posidonia shipping exhibition in Athens Somerville says: This continued support has brought the ABS share of all worldwide orders for new ships by Greek owners to a market-leading 30 per cent demonstrating their confidence in the superior service and responsive technical support that we are able to provide here in Greece in Korea China Japan and all the other shipbuilding centres that have attracted orders from the Greek shipping community. This level of support exceeds the 22 per cent share of the existing Gre...
THE costs of building new oil refineries and petrochemical plants have continued to rise reaching an all-time high in the first quarter period ending in March according to the IHS/Cambridge Energy Research Associates (Cera) Downstream Capital Costs Index (DCCI). The DCCI rose from 166 to 176 points over the past six months an increase of six per cent. The values are indexed to the year 2000 meaning that a piece of equipment that cost 100 in 2000 would cost 176 today. The index shows that costs are continuing their sharp rise which is having a major impact on the timing of projects and the price oil says Daniel Yergin chairman of Cera and executive vice president of IHS. The DCCI like its upstream counterpart the Upstream Capital Costs Index provides a framework for understanding these cost challenges. The latest cost increase has been driven by a high number of active projects keeping downstream specific markets such as engineering and specialised equ...
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THE costs of building new oil refineries and petrochemical plants have continued to rise reaching an all-time high in the first quarter period ending in March according to the IHS/Cambridge Energy Research Associates (Cera) Downstream Capital Costs Index (DCCI). The DCCI rose from 166 to 176 points over the past six months an increase of six per cent. The values are indexed to the year 2000 meaning that a piece of equipment that cost 100 in 2000 would cost 176 today. The index shows that costs are continuing their sharp rise which is having a major impact on the timing of projects and the price oil says Daniel Yergin chairman of Cera and executive vice president of IHS. The DCCI like its upstream counterpart the Upstream Capital Costs Index provides a framework for understanding these cost challenges. The latest cost increase has been driven by a high number of active projects keeping downstream specific markets such as engineering and specialised equ...
It s rare these days to see the words construction and profit in the same sentence. But while home and nonresidential builders take a beating from the turmoil in the credit and housing markets many companies in the heavy construction and engineering sector have reported better-than-expected profits in the past months. The reason? Many companies and the analysts who follow them say it all comes back to the surge in oil prices. The oil and gas business is really driving a lot of the backlog growth (in construction and engineering) as well as earnings as some of those bookings are now getting executed UBS analyst Steven Fisher says in an interview. The price of crude has more than doubled since the start of 2007. While that s helped spur inflation and temper gains in other sectors many heavy construction companies which specialise in huge capital projects such as power plants oil rigs and civil projects have benefited as the energy sector rakes in mon...
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It s rare these days to see the words construction and profit in the same sentence. But while home and nonresidential builders take a beating from the turmoil in the credit and housing markets many companies in the heavy construction and engineering sector have reported better-than-expected profits in the past months. The reason? Many companies and the analysts who follow them say it all comes back to the surge in oil prices. The oil and gas business is really driving a lot of the backlog growth (in construction and engineering) as well as earnings as some of those bookings are now getting executed UBS analyst Steven Fisher says in an interview. The price of crude has more than doubled since the start of 2007. While that s helped spur inflation and temper gains in other sectors many heavy construction companies which specialise in huge capital projects such as power plants oil rigs and civil projects have benefited as the energy sector rakes in mon...
AIR ARABIA announced the construction of a 300 room budget hotel at Sharjah Airport. The company also announced that it has appointed Gustav Pegel & Sohn as general contractor for the hotel which is due for completion in January 2010. This project follows a management agreement signed last year between Air Arabia and Rotana Hotels to manage this property under their Centro by Rotana brand offering affordable superior accommodation and hospitality. The property which will include both standard rooms and suites will offer comfort and convenience for travellers passing through one of the region s fastest growing airports as well as for visitors to the emirate. We are very pleased to commence the construction of the Air Arabia Centro Hotel. This is an important initiative and part of Air Arabia s strategy to grow ancillary revenues said Adel Ali board member and chief executive officer of Air Arabia. We are also happy to appoint Gustav Pegel & Sohn...
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AIR ARABIA announced the construction of a 300 room budget hotel at Sharjah Airport. The company also announced that it has appointed Gustav Pegel & Sohn as general contractor for the hotel which is due for completion in January 2010. This project follows a management agreement signed last year between Air Arabia and Rotana Hotels to manage this property under their Centro by Rotana brand offering affordable superior accommodation and hospitality. The property which will include both standard rooms and suites will offer comfort and convenience for travellers passing through one of the region s fastest growing airports as well as for visitors to the emirate. We are very pleased to commence the construction of the Air Arabia Centro Hotel. This is an important initiative and part of Air Arabia s strategy to grow ancillary revenues said Adel Ali board member and chief executive officer of Air Arabia. We are also happy to appoint Gustav Pegel & Sohn...
Spokesperson: Heinz Gabel general manager Al Rostamani Travel and Holidays How has business been over the past year? Al Rostamani Travels had a very good year in 2007 and we were able to out perform the market quite considerably. This was achieved by the loyalty of our existing clients which rely on our experience and outstanding service offered by our travel consultants as well as signing up new accounts and exploring new fields of business. Do you have any expansion plans? Last year had encouraged us to further expand in the UAE. We are opening several new branches in Dubai and the other emirates. Also our office in Abu Dhabi has just been moving to bigger premises on Electra Street to service our corporate clients even better and also to give the retail customer a new experience in our newly designed shop. Is the shortage of rooms for visitors to the UAE a significant issue? In high demand pe...
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Spokesperson: Heinz Gabel general manager Al Rostamani Travel and Holidays How has business been over the past year? Al Rostamani Travels had a very good year in 2007 and we were able to out perform the market quite considerably. This was achieved by the loyalty of our existing clients which rely on our experience and outstanding service offered by our travel consultants as well as signing up new accounts and exploring new fields of business. Do you have any expansion plans? Last year had encouraged us to further expand in the UAE. We are opening several new branches in Dubai and the other emirates. Also our office in Abu Dhabi has just been moving to bigger premises on Electra Street to service our corporate clients even better and also to give the retail customer a new experience in our newly designed shop. Is the shortage of rooms for visitors to the UAE a significant issue? In high demand pe...
A new section at this year s ITB Berlin is the ideal showcase for much of the region s breakneck development. In response to the increasing importance of the holiday real estate market the ITB Holiday real Estate section and the ITB Holiday Real Estate Congress 2007 will offer a wide audience expert information on holiday real estate and second homes. And as visitors might expect Dubai is right up there with such regular suspects as Spain France and Italy. The emirate will be part of a presentation by Stefan Albert managing director Engel & Vِlkers International at the congress. The section fits right in with Dubai authorities stated strategy of using tourism to bring in real estate investors for its freehold projects. Other destinations in the region too will benefit from such a section notably Abu Dhabi Ras Al Khaimah and Umm Al Quwain in the UAE Qatar and Bahrain. Germany is one of the key source markets for the region alongside the UK and w...
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A new section at this year s ITB Berlin is the ideal showcase for much of the region s breakneck development. In response to the increasing importance of the holiday real estate market the ITB Holiday real Estate section and the ITB Holiday Real Estate Congress 2007 will offer a wide audience expert information on holiday real estate and second homes. And as visitors might expect Dubai is right up there with such regular suspects as Spain France and Italy. The emirate will be part of a presentation by Stefan Albert managing director Engel & Vِlkers International at the congress. The section fits right in with Dubai authorities stated strategy of using tourism to bring in real estate investors for its freehold projects. Other destinations in the region too will benefit from such a section notably Abu Dhabi Ras Al Khaimah and Umm Al Quwain in the UAE Qatar and Bahrain. Germany is one of the key source markets for the region alongside the UK and w...
The real estate market in the Gulf Arab state of Qatar is set to grow 50 per cent this year as the government pumps money into infrastructure and oil and gas development the CEO of a top Qatari real estate company said. Walid Al-Saadi of United Development Company (UDC) said a new government budget which boosts spending on infrastructure and services by 71 per cent from the previous year will accelerate a real estate boom in what is already one of the world s fastest growing economies. There is big demand for real estate and there is a lot of liquidity so at this point investment in real estate is very feasible Saadi said on the sidelines of an economic forum in Qatar. Qatar s economy which is expected to double to around 70 billion in the next five years is already attracting up to 120 000 expatriates per year a number Saadi said will grow. An Opec member with the world s third-largest natural gas reserves Qatar is aiming to increase its LNG output to 7...
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The real estate market in the Gulf Arab state of Qatar is set to grow 50 per cent this year as the government pumps money into infrastructure and oil and gas development the CEO of a top Qatari real estate company said. Walid Al-Saadi of United Development Company (UDC) said a new government budget which boosts spending on infrastructure and services by 71 per cent from the previous year will accelerate a real estate boom in what is already one of the world s fastest growing economies. There is big demand for real estate and there is a lot of liquidity so at this point investment in real estate is very feasible Saadi said on the sidelines of an economic forum in Qatar. Qatar s economy which is expected to double to around 70 billion in the next five years is already attracting up to 120 000 expatriates per year a number Saadi said will grow. An Opec member with the world s third-largest natural gas reserves Qatar is aiming to increase its LNG output to 7...
CRC-Evans designs and builds the world s most widely used automatic welding systems for land or offshore pipeline construction. In addition to renting these systems to contractors on a project basis it provides other specialised services such as engineering on-site technicians and training says the US-based company. The company s automatic welding system is a gas-metal-arc system designed to make quality girth welds at high production rates it says. It can accommodate pipe sizes from four to 60 inches and wall thickness in excess of one inch. The system consists of three major components. Pipe facing machines produce a narrow groove compound bevel to assure near perfect joint fit-up for every weld says the company. The combination internal welder/line-up clamp travels inside the pipe to align and clamp joint ends together and then automatically welds the root bead from the inside. ...
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CRC-Evans designs and builds the world s most widely used automatic welding systems for land or offshore pipeline construction. In addition to renting these systems to contractors on a project basis it provides other specialised services such as engineering on-site technicians and training says the US-based company. The company s automatic welding system is a gas-metal-arc system designed to make quality girth welds at high production rates it says. It can accommodate pipe sizes from four to 60 inches and wall thickness in excess of one inch. The system consists of three major components. Pipe facing machines produce a narrow groove compound bevel to assure near perfect joint fit-up for every weld says the company. The combination internal welder/line-up clamp travels inside the pipe to align and clamp joint ends together and then automatically welds the root bead from the inside. ...
The National Shipping Company of Saudi Arabia (NSCSA) has posted a net profit of SR 188.9 million in the first half of 2004 as compared to SR 102.9 million in the same period of 2003 proving the firm s continued strength as it celebrates its Silver Jubilee. The firm was incorporated as a Saudi Joint Stock Company by a Royal Decree in October 1979 and is the national flag carrier of the Kingdom of Saudi Arabia which is presently celebrating its 25th Silver Jubilee. NSCSA has fully paid up capital of SR2 billion 29 per cent of which is owned by the Saudi Government and the remaining by leading Saudi businessmen and citizens. NSCSA owns 9 VLCCs 20 chemical tankers (including 6 under construction) and 4 multi-purpose RoRo vessels. Since starting Container-RoRo service in 1980 NSCSA has diversified its activities by entering into petrochemical transportation in 1985. During 1995-1996 the Company stepped up crude oil transportation. In 1997 NSC...
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The National Shipping Company of Saudi Arabia (NSCSA) has posted a net profit of SR 188.9 million in the first half of 2004 as compared to SR 102.9 million in the same period of 2003 proving the firm s continued strength as it celebrates its Silver Jubilee. The firm was incorporated as a Saudi Joint Stock Company by a Royal Decree in October 1979 and is the national flag carrier of the Kingdom of Saudi Arabia which is presently celebrating its 25th Silver Jubilee. NSCSA has fully paid up capital of SR2 billion 29 per cent of which is owned by the Saudi Government and the remaining by leading Saudi businessmen and citizens. NSCSA owns 9 VLCCs 20 chemical tankers (including 6 under construction) and 4 multi-purpose RoRo vessels. Since starting Container-RoRo service in 1980 NSCSA has diversified its activities by entering into petrochemical transportation in 1985. During 1995-1996 the Company stepped up crude oil transportation. In 1997 NSC...
National Industrial Gases Company (GAS) an affiliate of Saudi Basic Industries Corporation (Sabic) has awarded a lump sum turnkey contract for the engineering procurement and construction of an air separation plant to Air Products Plc. The plant will be constructed in Yanbu Industrial City and is scheduled for completion by the middle of 2005. The capacity will be 800 tons of oxygen per day. Established twenty years ago and based in Jubail and Yanbu the National Industrial Gases Company produces oxygen nitrogen argon and krypton-xenon. Commenting on the announcement Mohamed Al-Mady Vice Chairman and CEO of Sabic said: As Sabic grows and moves towards its total production target of 48 million tonnes per year (tpy) by 2010 we will need more oxygen as a feedstock for our downstream plants. I am pleased to say that this new contract will help supply some of that additional raw material. In further construction news Sabic a...
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National Industrial Gases Company (GAS) an affiliate of Saudi Basic Industries Corporation (Sabic) has awarded a lump sum turnkey contract for the engineering procurement and construction of an air separation plant to Air Products Plc. The plant will be constructed in Yanbu Industrial City and is scheduled for completion by the middle of 2005. The capacity will be 800 tons of oxygen per day. Established twenty years ago and based in Jubail and Yanbu the National Industrial Gases Company produces oxygen nitrogen argon and krypton-xenon. Commenting on the announcement Mohamed Al-Mady Vice Chairman and CEO of Sabic said: As Sabic grows and moves towards its total production target of 48 million tonnes per year (tpy) by 2010 we will need more oxygen as a feedstock for our downstream plants. I am pleased to say that this new contract will help supply some of that additional raw material. In further construction news Sabic a...
China s largest refinery Zhenhai Refining & Chemical Co Ltd has completed construction of a one million tonnes per year (tpy) catalytic reformer and a 450 000 tpy paraxylene (PX) unit a Chinese industry source said. The reformer which produces mainly gasoline supplies feedstock to the unit making PX the raw material used to make the chemical fibre polyester. Construction was completed last month. It may take about three months for the PX unit to run full swing said the source close to Zhenhai s operations. Zhenhai a unit of China s second-largest oil major Sinopec also runs another one million tpy catalytic reformer. The combined reformer capacity of two million tpy matches the production scaleof the PX unit said the source. Zhenhai would be selling most of its PX to sibling plant Yizheng Chemical Fibre Co Ltd China s largest chemical fibre producer he said. Zhenhai based in east China s port city of Ningbo has a ...
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China s largest refinery Zhenhai Refining & Chemical Co Ltd has completed construction of a one million tonnes per year (tpy) catalytic reformer and a 450 000 tpy paraxylene (PX) unit a Chinese industry source said. The reformer which produces mainly gasoline supplies feedstock to the unit making PX the raw material used to make the chemical fibre polyester. Construction was completed last month. It may take about three months for the PX unit to run full swing said the source close to Zhenhai s operations. Zhenhai a unit of China s second-largest oil major Sinopec also runs another one million tpy catalytic reformer. The combined reformer capacity of two million tpy matches the production scaleof the PX unit said the source. Zhenhai would be selling most of its PX to sibling plant Yizheng Chemical Fibre Co Ltd China s largest chemical fibre producer he said. Zhenhai based in east China s port city of Ningbo has a ...
C & J Engineering Abu Dhabi also known as Ahmed Mohamed Abdul Rahim Pipe Coating Establishment was established in 1981 as a 100 per cent local national company. Its original remit was to offer comprehensive mechanical engineering services to its client base of oil and gas companies government department and public utilities using UK expertise and technological innovations under internationally recognised operations and quality procedures. Since then the company s activities have expanded to include the design fabrication erection and commissioning of structural steel and pipework; coating and cement lining of pipes and vessels; equipment maintenance; structural fabrication and all operations associated with the construction industry. The company has added chemical injection skids and other process packages and electrical and instrumentation services to its portfolio. As a result C & J Engineering now offers its clients a complete fabrication...
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C & J Engineering Abu Dhabi also known as Ahmed Mohamed Abdul Rahim Pipe Coating Establishment was established in 1981 as a 100 per cent local national company. Its original remit was to offer comprehensive mechanical engineering services to its client base of oil and gas companies government department and public utilities using UK expertise and technological innovations under internationally recognised operations and quality procedures. Since then the company s activities have expanded to include the design fabrication erection and commissioning of structural steel and pipework; coating and cement lining of pipes and vessels; equipment maintenance; structural fabrication and all operations associated with the construction industry. The company has added chemical injection skids and other process packages and electrical and instrumentation services to its portfolio. As a result C & J Engineering now offers its clients a complete fabrication...
The US government has agreed to spend 486 000 to study the possible construction of a natural gas pipeline in Kazakhstan. Energy Secretary Spencer Abraham and Kazakh Energy Minister Vladimir Shkkolnik signed the agreement for the study which will be funded by the US Trade and Development Agency. The proposed pipeline would connect the gasfields in central Kazakhstan to the southern region of the nation where most industry is located along with much of the population. If built the pipeline would generate an estimated 90 million in US oilfield services and equipment the trade agency said. Kazakhstan has proven natural gas reserves of 65 trillion cu ft according to the US Energy Information Administration (EIA). But development of the gasfields has been slowed by a lack of pipelines to move the gas South. Such a pipeline has been estimated to cost around 1 billion according to the EIA. ...
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The US government has agreed to spend 486 000 to study the possible construction of a natural gas pipeline in Kazakhstan. Energy Secretary Spencer Abraham and Kazakh Energy Minister Vladimir Shkkolnik signed the agreement for the study which will be funded by the US Trade and Development Agency. The proposed pipeline would connect the gasfields in central Kazakhstan to the southern region of the nation where most industry is located along with much of the population. If built the pipeline would generate an estimated 90 million in US oilfield services and equipment the trade agency said. Kazakhstan has proven natural gas reserves of 65 trillion cu ft according to the US Energy Information Administration (EIA). But development of the gasfields has been slowed by a lack of pipelines to move the gas South. Such a pipeline has been estimated to cost around 1 billion according to the EIA. ...
Construction is well underway for Jumeirah International s latest resort development Madinat Jumeirah. Located adjacent to the Burj Al Arab and the Jumeirah Beach Hotel Madiant Jumeirah Madinat Jumeirah is designed to be one of the most luxurious and diverse resorts in the world. Madinat Jumeirah will benefit from the existing global recognition of some of Dubai s flagship hotels. The resort is designed to encompass and promote the rich heritage and traditions of Arabia allowing visitors and guests to experience the history and roots of the Arabic culture within an exclusive environment. The new resort will offer one kilometre of private beach. Madinat Jumeirah will include two 300-room 5-star hotels Port Al Salam and Al Qasr and clusters of 10-12 rooms and suites in courtyard villas giving a total of 340 rooms and suites. The villas all feature authentic architecture reflecting the heritage and culture of Dubai and are named the...
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Construction is well underway for Jumeirah International s latest resort development Madinat Jumeirah. Located adjacent to the Burj Al Arab and the Jumeirah Beach Hotel Madiant Jumeirah Madinat Jumeirah is designed to be one of the most luxurious and diverse resorts in the world. Madinat Jumeirah will benefit from the existing global recognition of some of Dubai s flagship hotels. The resort is designed to encompass and promote the rich heritage and traditions of Arabia allowing visitors and guests to experience the history and roots of the Arabic culture within an exclusive environment. The new resort will offer one kilometre of private beach. Madinat Jumeirah will include two 300-room 5-star hotels Port Al Salam and Al Qasr and clusters of 10-12 rooms and suites in courtyard villas giving a total of 340 rooms and suites. The villas all feature authentic architecture reflecting the heritage and culture of Dubai and are named the...
the newly-constructed South Refinery Upgrade Project Plants at the Ras Tanura refinery faced a severe problem because incorrect welding consumables had been used to make some of the welds. Thermowell 212 had cracked during a catalyst sulphidation operation. The sulphidation involved approximately 20 000 ppm of hydrogen sulphide gas at 2 150 prig and 260 C (500 F). The cracked Thermowell was sent to the Consulting Services Department/ Materials Engineering Unit for evaluation. The failure analysis determined that it had failed due to sulphide stress corrosion cracking because the weld and heat-affected zone had not been properly postweld heat-treated and were too hard. The weld and heat-affected zone of this 11/4 chromium 12 molybdenum alloy had an average hardness of Vickers 320 equivalent to a Brinell 300 while the project specification required a hardness of Brinell 225 or less. The failure analysis report concluded that this weld was...
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the newly-constructed South Refinery Upgrade Project Plants at the Ras Tanura refinery faced a severe problem because incorrect welding consumables had been used to make some of the welds. Thermowell 212 had cracked during a catalyst sulphidation operation. The sulphidation involved approximately 20 000 ppm of hydrogen sulphide gas at 2 150 prig and 260 C (500 F). The cracked Thermowell was sent to the Consulting Services Department/ Materials Engineering Unit for evaluation. The failure analysis determined that it had failed due to sulphide stress corrosion cracking because the weld and heat-affected zone had not been properly postweld heat-treated and were too hard. The weld and heat-affected zone of this 11/4 chromium 12 molybdenum alloy had an average hardness of Vickers 320 equivalent to a Brinell 300 while the project specification required a hardness of Brinell 225 or less. The failure analysis report concluded that this weld was...
Engineering is one of NPCC s largest sections comprising more than 200 staff and according to the company is the only contractor in the Gulf capable of providing its clients with a total service from basic design through detailed engineering fabrication and construction to installation all from one site. NPCC first became involved with engineering procurement and construction (EPC) in 1992 when it was awarded the design of a sulphur jetty in Ruwais by Adgas. In 1995 contracts by Elf Qatar (for the Al Khalij Field Development Phase 1) and by Adma-Opco (for the Umm Shaif Arab D development) were also awarded on an EPC basis. Until that time NPCC had worked as the Construction Contractor linked to an Engineering Contractor who produced documents at the Approved for Construction (AFC) stage. NPCC s principal involvement then was in carrying out Construction Engineering and completing the 10 per cent of detailed engineering not finalised by the Engineering Co...
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Engineering is one of NPCC s largest sections comprising more than 200 staff and according to the company is the only contractor in the Gulf capable of providing its clients with a total service from basic design through detailed engineering fabrication and construction to installation all from one site. NPCC first became involved with engineering procurement and construction (EPC) in 1992 when it was awarded the design of a sulphur jetty in Ruwais by Adgas. In 1995 contracts by Elf Qatar (for the Al Khalij Field Development Phase 1) and by Adma-Opco (for the Umm Shaif Arab D development) were also awarded on an EPC basis. Until that time NPCC had worked as the Construction Contractor linked to an Engineering Contractor who produced documents at the Approved for Construction (AFC) stage. NPCC s principal involvement then was in carrying out Construction Engineering and completing the 10 per cent of detailed engineering not finalised by the Engineering Co...
