Dubai’s Damac says property sales boosted by foreign buyers

Firm’s managing director says foreign demand in first quarter of 2015 was not significantly affected by the fall of the Euro. Dubai’s...

Dubai’s Majid Al Futtaim to use bonds, sukuk for expansion

Retail conglomerate rules out IPO as it looks to expand in Saudi Arabia and Egypt. The Dubai-based retail conglomerate Majid Al Futtaim (MAF)...

Dubai builders required to use ‘green’ concrete from April

Switching to eco-friendly building materials will cut pollution and long-term costs, Dubai Municipality says. All new buildings in Dubai will have to...

France’s Egis lands contract for Um Alhoul Economic Zone in Qatar

French engineering group to oversee construction of 27 sq km development south of Doha. Egis, the French engineering group specialising in infrastructure...

Cayan, Shuaa to set up fund for $272m Dubai project

Gulf-based developer and investment firm to back construction of twin-tower development of 700 residential units and hotel apartments. The Gulf-based developer Cayan...

Balfour Beatty posts $22.3m loss from Middle East operations

The UK’s biggest contracting firm announced total losses of $88 million in 2014. Balfour Beatty, the UK's biggest contractor, has announced losses...

Dubai Torch fire: 81 of 676 apartments still uninhabitable

Oman Insurance Company says it will consider making advance payment to homeowners affected by fire. Oman Insurance Company, the insurer of the...

Abu Dhabi’s Aldar raises $163m from Khalifa City plot sales

All 281 land plots of the 690,00sqm Al Merief development sold in a week, property developer says. Aldar Properties, the Abu Dhabi-listed...

Gulf’s ‘stagnating’ district-cooling sector must evolve or die, expert says

George Berbari, chief executive of DC Pro Engineering, says industry has to make use of renewable energy. The Arabian Gulf’s “stagnating” district-cooling sector...