RAK Properties delivers buoyant results in Q3

RAK Properties has announced that it earned US $7.5mn net profit during the third quarter of 2022, while revenues climbed to $78.84mn,...

Infrastructure

ACWA Power achieves financial close for $821mn Shuaibah 3 IWP project

Saudi-based ACWA Power has announced the financial close for the Shuaibah 3 independent water project (IWP), with a total investment of US...

Financial

Union Properties reports net profit for Q3 2022, following $8.44mn loss in 2021

Developer Union Properties has reported a net profit of US $224,000 for the third quarter of the year, compared to a net...

Sustainability

Yellow Door Energy to develop over $1bn in sustainable energy projects following $400mn equity raise

Sustainable energy firm Yellow Door Energy says it has successfully closed a $400mn equity raise, which will enable it to continue developing...

Financial

$670mn added to its backlog in Q3 2022 says Orascom Construction

$670mn worth of new contract awards were added to Orascom Construction’s backlog in Q3 2022, the firm has reported. The Cairo-based firm...

Property

MCRE achieves record Q3 result of over $136mn in sales in Abu Dhabi property market

Metropolitan Capital Real Estate (MCRE) said it registered over $136mn in sales for Q3 2022 in the Abu Dhabi property market, making...

Financial

Emaar investors approve Dubai Creek Harbour acquisition

Shareholders have approved Emaar Properties’ acquisition of Dubai Creek Harbour from Dubai Holding, the master developer has announced. Shareholders have also approved...

Financial

DEWA announces revenues of $1.91bn for Q2 2022

Dubai Electricity and Water Authority (DEWA) has announced that it has recorded revenues of $1.91bn for the second quarter of 2022. In...

Infrastructure

TAQA reports a 50% increase in net income to $1.17bn for H1 2022

Abu Dhabi National Energy Company (TAQA) has reported its consolidated financial results for the period ended 30 June 2022. Its net income...

Property

Union Properties sees net profit for Q2 2022 after healthy performance from subsidiaries

Developer Union Properties has announced its consolidated financial results for the three-month period ended 30 June 2022, with the company seeing a...