Palm Jumeirah and Jumeirah Bay Island remain top choices for UHNWIs

Palm Jumeirah and Jumeirah Bay Island are the top choices for ultra-high-net-worth individuals (UHNWIs) in Dubai, accounting for a substantial 48% of...

Financial

NMDC reports outstanding growth for H1 2024

Abu Dhabi-based NMDC Group, a specialist in engineering, procurement, construction, and marine dredging, has recorded strong results for H1 2024, with a...

Financial

ACWA Power sells stake in IWSPP for $225mn

Acwa Power has said it has reached an agreement to sell 30% of its stake in the Rabigh Arabian Water & Electricity...

Infrastructure

EBRD to loan $255mn for construction of key road project in Armenia

A US $255mn loan has been approved by the European Bank for Reconstruction and Development (EBRD) for the construction of the southern...

Financial

Government commits new capital to RAK Properties

At its Annual General Meeting, RAK Properties, Ras Al Khaimah’s publicly-listed property developer, approved an increase in its capital by US $250mn...

Infrastructure

Ethiopia sources $720mn in financing for road infrastructure project

In a bid to improve road travel between Addis Ababa and Djibouti, the International Development Association (IDA) will lend Ethiopia US $720mn...

Financial

Acwa Power JV closes financing on $8.5bn green hydrogen project in Neom

Acwa Power’s joint venture (JV) entity has closed a financing agreement worth US $8.5bn for a major green hydrogen project, which will...

Financial

Arada closes $100mn tap of Sukuk issuance

Developer Arada has successfully closed a US $100mn tap of its existing $350mn sukuk, which was issued in June and listed on...

Financial

Union Properties announces completion of $162mn debt restructure

Union Properties has announced the successful completion of a US $162mn debt restructuring, which includes the repayment of $60.7mn to lenders, as...

Property

Emaar buys out Dubai Holding stake in Dubai Creek Harbour for $2.04bn

Developer Emaar Properties has announced that it will fully acquire the Dubai Creek Harbour development from Dubai Holding for $2.04bn. The announcement...