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Saudi land tax to spur development – JLL
Tax likely to see project plans brought forward and prompt a drop in urban land values. An upcoming tax on vacant land...
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Nakheel awards $1m contract for Deira Islands sewage work
Austria-based ILF Consulting Engineers wins design and construction supervision work for treatment plant. Nakheel has awarded a contract worth AED 4million ($1m)...
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Saudi cabinet approves tax on vacant land
Move will make it more expensive to keep urban plots undeveloped, in bid to address housing shortage. Saudi Arabia’s cabinet has approved...
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UAE midday break ‘to be enforced by 18 teams’
60,000 inspections to monitor for violations of summer ban on work during hottest hours of day. A total of 18 teams will...
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Qatar buys Singapore office tower for $2.45bn
The 1.25 million sq ft Asia Square Tower 1 has the largest floor plate in the Marina Bay area. Singapore’s Asia Square...
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Dubai’s Meydan Group secures $272m funding
Consortium of banks includes ADIB, Al Hilal Bank, Sharjah Islamic Bank and Ajman Islamic Bank. Meydan Group has secured AED1 billion ($272...
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Dubai rent declines ‘accelerating’ – report
Monthly rent decline hits 1.3% in May and further drops are expected, says Phidar Advisory. Dubai residential rents are set to fall...
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Cayan’s CMC Tower nears completion in Riyadh
Enabling and structural packages completed ahead of schedule, developer says. The CMC Tower, a mixed-use commercial building under construction in Saudi Arabia,...
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Aldar launches e-procurement portal
Move to help focus on strategic supply management, property developer says. Aldar Properties has announced the launch of an online e-procurement portal,...
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Dubai’s KBW Investments buys Grayscale Interiors
KBW has investments in a number of businesses in the construction sector and in a number of upcoming technology start-ups. KBW Investments...
