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Foundation work completed on Emaar's The Tower

Emaar Properties has announced the completion of the pile foundations for what will be the world’s largest building, The Tower, upon completion in 2020  

NEWS

RSG and Rotana ink deal to build 54-storey hotel

Sabah Rotana, is located in Sufouh Gardens on Sheikh Zayed Road, and will be a 54-storey, 534-room property

The Value Added Tax to be implemented by six GCC governments next year will result in an increase in all construction costs and property prices, expert says

NEWS

Dubai-based Draw Link opens new office in Greece

Draw Link Group’s offices in Greece will be staffed by eight employees supporting various Dubai-based projects

The UAE emirate of Sharjah was able to save 29MW of electricity and reduce its carbon emissions by 17 tonnes during Earth Hour, held on 25 March

Goldman Sachs Group Inc. is holding a preliminary meeting for an equities license in Saudi Arabia

Dubai has been ranked ninth in a global survey as among the top 10 cities with the largest supply of hotel rooms in the world

NEWS

Emaar Malls shares dip amid Souq.com bidding

Emaar Malls shares fell 0.78% on the Dubai Financial Market yesterday to close at $0.69 after news reports said the retailer was offering to pay $800m for Souq.com

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LATEST COUNTRY NEWS

UAE: Depa records 5% revenue increase in 2016

Depa Limited announced that its revenue increased from $446.68m in 2015 to $471.10m in 2016, registering a 5% year-on-year growth

Properties Investment to expand The Market at DIP

Dubai-based property developer, Properties Investment (PI), will be expanding The Market shopping arcade next to the Green Community in Dubai Investment Park (DIP)

ACWA Power and APICORP announce stake in Shuqaiq

ACWA Power and APICORP announced the signing of a sale and purchase agreement of an 8% effective stake in Shuqaiq Independent Water & Power Project (Shuqaiq IWPP)

Top 10 GCC contract wins – March 2017

Construction Week takes a count of the top construction contracts awarded in the GCC region in the month of March 2017

Top 10 GCC contract wins – March 2017

Construction Week takes a count of the top construction contracts awarded in the GCC region in the month of March 2017

Oman: End of Q3 2016 FDI inflow exceeds $18.2bn

Foreign direct investment in Oman went over $18.2bn at the end of the third quarter of 2016, after the sultanate saw its FDI inflow for Q3 hit the $400m mark.

Top 10 GCC contract wins – March 2017

Construction Week takes a count of the top construction contracts awarded in the GCC region in the month of March 2017

Kuwait fund loans Lebanon $36.9m for water supply

The Kuwait Fund for Arab Economic Development (KFAED) has entered into a loan agreement worth $36.9m (KWD11.2m) with Lebanon, to be used on water projects for the country

Top 10 GCC contract wins – March 2017

Construction Week takes a count of the top construction contracts awarded in the GCC region in the month of March 2017

Siemens to help develop Qataris’ tech skills

An agreement has been signed by Siemens and the Ministry of Transport and Communications in Qatar to advance tech capabilities among Qatari nationals

Bahrain: Alba approves $80m cash dividends at AGM

Bahrain-headquartered Aluminium Bahrain (Alba) approved cash dividends amounting to $80m for 2016, payable beginning 2 April, 2017 to Alba's shareholders on record as of 21 March, 2016

Bahrain distributes Masaken usufruct contracts

Bahrain’s Ministry of Housing has started distributing usufruct contracts to the first batch of recipients eligible for the “Masaken” project units in the Al Lawzi area




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