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SRECO board chair: Saudi market presents 'unique challenges' Abdulrahman Almofadhi, chairman, SRECO board of directors.

SRECO board chair: Saudi market presents 'unique challenges'

Earlier this month, the Saudi real estate giant posted a $20m (SR74.9m) net profit for the first six months of 2018 – a modest 5.17% increase on the same period last year


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Six-month net profit dip for Dubai developer Nakheel

Six-month net profit dip for Dubai developer Nakheel

The Dubai-based development heavyweight reported a 3.8% drop in net profit in the first six months of 2018 compared to H1 2017
 
Dubai Properties reveals details of energy-saving plan

Dubai Properties reveals details of energy-saving plan

The developer told CW it may roll out its energy-saving initiative at other developments in its quest to reduce the environmental footprint of its built assets
 
Oil price less significant for Middle East construction than in 2016

Oil price less significant for Middle East construction than in 2016

Laing O'Rourke's Mark Andrews said global and local issues are bearing greater significance to the region's construction industry
 
ENBD REIT looks to nearly double non-residential, non-office assets

ENBD REIT looks to nearly double non-residential, non-office assets

The firm wants to grow alternative assets by value in ENBD Real Estate Investment Trust's (REIT) from 16% to 30% of the portfolio's total value
 

 

H1 profits surge 68% at Emaar Development

H1 profits surge 68% at Emaar Development

The development arm of Dubai-based Emaar Properties is the latest major name to report its first half financial results for 2018
 
Low oil prices continue to squeeze liquidity in 2017, report finds

Low oil prices continue to squeeze liquidity in 2017, report finds

The report from design and consultancy firm Arcadis found the average value of disputes in the Middle East hit $91m in 2017, a 65% jump on the year prior
 
Net profits skyrocket at Abu Dhabi's Eshraq

Net profits skyrocket at Abu Dhabi's Eshraq

The chairman of the Abu Dhabi-based real estate firm said its 2018 first half results were the best in four years
 
Egypt riding high with $348bn in projects

Egypt riding high with $348bn in projects

BNC Network's latest report ‘Urban Construction in Egypt’ found the country's construction sector grew 10% in 2017
 
Saudi Aramco, Air Products, ACWA Power form $8bn JV

Saudi Aramco, Air Products, ACWA Power form $8bn JV

The joint venture company will buy Saudi Aramco's under-construction gas and power assets
 
Hotels in Ajman see 14% spike in guests

Hotels in Ajman see 14% spike in guests

Revenue from Ajman's tourism and hospitality sector in the first half of 2018 stood at $65.9m (AED242m), a modest 6% increase on the same period last year, fresh data has revealed
 
Abu Dhabi seeks to reduce infrastructure development costs

Abu Dhabi seeks to reduce infrastructure development costs

The emirate's Quality and Conformity Council said the workshop comes in line with the objectives of the Abu Dhabi Plan to develop a competitive, sustainable, and globally open economy
 
PwC notes growth of Saudi Arabia's REITs in H1 2018

PwC notes growth of Saudi Arabia's REITs in H1 2018

Eight out of the nine IPOs floated on Tadawul in the first half of 2018 were REITs worth millions of dollars, it can be revealed
 
YoY profits up 97% at Dubai's Arabtec Holding in H1

YoY profits up 97% at Dubai's Arabtec Holding in H1

The contracting giant reported a net profit of $30.7m for the first half of 2018, a near doubling compared to the same period in 2017
 
Dubai contractors urge selectivity as margin values drop

Dubai contractors urge selectivity as margin values drop

Projects and clients must be picked with more judiciousness as developers seek greater investment returns, civil and MEP contractors have told Construction Week
 
Dubai contractor says Schon asset seizure 'tip of the iceberg'

Dubai contractor says Schon asset seizure 'tip of the iceberg'

DLD's seizure of Schon's assets is a step in the right direction that must be taken against developers damaging Dubai's property market, Beaver Gulf's CEO said
 



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