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Next phase of MBR City District One launched in Dubai
More than 10,000 workers on site for villa, infrastructure works. Phase three of the large-scale Mohammed Bin Rashid Al Maktoum City –...
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Saudi, Indonesian construction firms in 10-year deal
Initial investments worth millions of dollars. Indonesian construction firm PT Wijaya Karya has signed a strategic partnership agreement which will pump millions...
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Aqua Properties invests $25m in Skycourt Tower, Dubai
Firm intends to put apartments up for re-sale to clients. Aqua Properties has announced a $24.77 million bulk purchase of apartments in...
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Shurooq, Emaar and Eagle Hills establish Sharjah real estate firm
Omran Properties to cover commercial, industrial and real estate. The Sharjah Investment and Development Authority (Shurooq) has signed with Dubai’s Emaar Properties...
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India names 20 locations in $7.5bn ‘smart city’ drive
The capital New Delhi is one to be given a makeover. India has named 20 urban locations that are to be given...
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Saudi house sales down 5%, rentals up
Residential property market is shifting, says JLL. Saudi Arabia saw 5% fewer property sale transactions in the year to November, as the...
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Tough times ahead: Gulf construction outlook for 2016
Low oil prices and challenging economic conditions to weigh heavily on the industry. Last year was a challenging one by all accounts,...
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China’s CREC lands initial work for Egypt ‘Olympic park’ – report
Projects expected to be completed in 30 months. The Egyptian Housing Ministry and the China Railway & Engineering Corporation (CREC) have signed...
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Project delays ‘blessing in disguise’ for UAE real estate – JLL
Delays will reduce the risk of oversupply in 2016, consultancy says. Project delays caused by slowing market conditions are likely to reduce...
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Dubai’s Deyaar reports $79m in net profit for 2015
The Dubai-listed developer saw a 3.4% increase in profit last year. Deyaar Development has reported a net profit of AED291.4 million ($79m)...
