Dubai’s Nakheel awards $223m Palm Tower contract to two Abu Dhabi builders

Dubai’s Nakheel Properties has awarded two Abu Dhabi-based builders a AED819 million ($223m) contract to construct The Palm Tower, the company announced.The contract will...

Infrastructure

Dubai’s RTA awards $68m contract for theme park roads, bridges

The Roads and Transport Authority (RTA) announced that it has awarded a $68 million contract for the construction of roads and bridges for...

Property

SKAI looks to export patented Dubai building concept

The Dubai-based SKAI Real Estate Development plans to replicate its patented design for the Viceroy Dubai Jumeirah Village property in other cities around...

Property

Dubai Holding expects annual profits to hit $1.5bn

Dubai Holding, which manages various business park and real-estate interests, expects its 2015 net profits to exceed AED5.5 billion ($1.5bn), having reported a...

Construction

Abu Dhabi’s TDIC said to hire former ADIA official as CEO

The master-developer behind some of Abu Dhabi’s most prominent projects has hired a longstanding executive of the emirate’s sovereign wealth fund as its...

Property

Chestertons to market London’s $910m Wardian project in UAE

International property agency Chestertons plans to market a $910 million development in London to investors from the UAE and wider Gulf region.Wardian,...

Property

Beirut property sale values ‘plummet by 22.5%’

The value of Beirut property sales plummeted by 22.5% in the first eight months of this year, as overall Lebanon real estate...

Construction

Drake & Scull wins $33.5m contract for Dubai beachfront project

Drake & Scull Engineering (DSE) has announced that it has been awarded a $33.48 million contract for a mixed-use beachfront development in...

Construction

New UAE labour rules come into force on Jan. 1

The UAE is to implement major changes to its labour laws on January 1, when it plans to introduce standard contracts and ease...

Construction

Alkhalij Cement set to invest $219m in new Qatar production line

Qatar’s Alkhalij Cement Company plans to invest $219m in a new production line, which it says is needed to meet growing demand from local construction...