DSI posts $4m Q4 profit despite regional slowdown

Dubai-listed contractor posts overall 2015 loss of $255m. Drake and Scull (DSI), the Dubai-based contractor, has announced a substantial jump in its...

Dubai Parks spending hits $1.6bn at end of ‘15

Theme park construction progressing, with 70% of infrastructure now complete. Dubai Parks and Resorts is on track to open in October, with...

Kuwait’s Al Kout waterfront project to open by Q4 2017

The $234m Al Kout Mall is part of the 300,000sqm project. Kuwaiti developer Tamdeen Group has announced that its Al Kout waterfront...

Majid Al Futtaim to invest $3.7bn in two Riyadh malls

Dubai developer to build Saudi Arabia’s largest mall and first City Centre. Majid Al Futtaim plans to invest $3.73 billion in the...

Emaar to build new tower at Dubai Creek

Sheikh Mohammed gives green light to project. Sheikh Mohammed bin Rashid Al Maktoum, vice president and prime minister and ruler of Dubai,...

Egypt’s Sisi calls on Russia to execute agreed projects

Remarks made during meeting with Russian Trade Minister. Egyptian President Abdel Fattah el-Sisi has called on Russia to execute the agreed upon...

Oman to speed up licenses for strategic projects

Scheme targeted at investments in excess of $25 million. Oman’s Ministry of Commerce and Industry has set up a separate office to...

Mecca crane collapse: ‘40 to stand trial’ – report

Accused include 30 staff at construction firm. About 40 people are set to stand trial before three courts in the Saudi city...

‘Considerable progress’ in working conditions on Abu Dhabi’s Saadiyat Island – PwC

Report includes interviews with 880 workers. An independent report into employment practices on Saadiyat Island in Abu Dhabi has indicated ‘considerable progress’...

Nakheel awards $381m Dubai Palm Gateway contract

Ssangyong, China State to build mixed-used high-rise project. The developer Nakheel has awarded a construction contract worth $381 million for The Palm...