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Net profit at Manazel storms ahead 135% in H1 2018 Revenues at the Abu Dhabi real estate giant were up a quarter on H1 2017.

Net profit at Manazel storms ahead 135% in H1 2018

Net profit at the Abu Dhabi real estate giant in the first six months of 2018 stood at $36.1m (AED132.9m)


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Dubai's Majid Al Futtaim reports 13% H1 revenue hike

Dubai's Majid Al Futtaim reports 13% H1 revenue hike

All of the UAE-based firm's business lines reported revenue increases in H1 2018, helped in part by the group's ongoing diversification and expansion efforts
 
Saudi finance ministry inks 17 project loan deals worth $201m

Saudi finance ministry inks 17 project loan deals worth $201m

The amount is part of the kingdom's Local Lending Program, and will support health, education, and hospitality projects that have an investment value of $413m
 
WSP to acquire US firm Louis Berger

WSP to acquire US firm Louis Berger

The US professional services consultancy expects the $400m deal, financed by an underwritten loan from the Canadian Imperial Bank of Commerce, to close in Q4 2018
 
Law firm advises Majid Al Futtaim on major Mediclinic sale

Law firm advises Majid Al Futtaim on major Mediclinic sale

Majid Al Futtaim has been advised by global law firm Clyde & Co on the sale of two of its City Centre Clinics, according to reports on Tuesday
 

 

Dubai Investments posts H1 2018 profit growth

Dubai Investments posts H1 2018 profit growth

Investment conglomerate has had a good year after posting quarterly and half-year profit growth so far in 2018
 
UAE's Arkan reports 38% drop in H1 net profit

UAE's Arkan reports 38% drop in H1 net profit

The UAE-based supplier said additional costs associated with the continuity of its Al Ain Cement Factory had impacted profits for the first half of this year
 
Expo 2020 Dubai deepens ties with Chinese business

Expo 2020 Dubai deepens ties with Chinese business

Expo 2020 Dubai agreement deepens China's presence and influence in the UAE as ties between the two nations continue to grow
 
Saudi's Rou'a Al Haram to boost Makkah real estate

Saudi's Rou'a Al Haram to boost Makkah real estate

Up to $2.1bn could be added to Saudi Arabia's GDP through the project, which was announced by the Public Investment Fund in October 2017
 
Oman's real estate deals decline to $4bn

Oman's real estate deals decline to $4bn

Real estate transactions in Oman declined, although land plot allocation recorded a slight increase
 
CEO optimistic despite Deyaar's 2.6% drop in H1 2018 net profit

CEO optimistic despite Deyaar's 2.6% drop in H1 2018 net profit

While the firm also recorded a 0.7% drop in revenues compared to H1 2017, CEO Saeed Al Qatami said he is "confident" about Deyaar's ability to expand its portfolio
 
$136bn bank debt lent to UAE and Saudi real estate sectors in 2017

$136bn bank debt lent to UAE and Saudi real estate sectors in 2017

Saudi Arabia's real estate sector alone was lent $55bn in 2017, according to a JLL-Clifford Chance paper examining alternative funding sources in the Middle East
 
DIFC expands services to target Chinese property investment

DIFC expands services to target Chinese property investment

Property investment by Chinese buyers accounted for 3% of total sales in 2017, according to DLD statistics
 
GCC project progress takes Kuwait's Mazaya to $10m profit in H1 2018

GCC project progress takes Kuwait's Mazaya to $10m profit in H1 2018

The developer's $9.6m net profit comes as the developer makes headway with its Q-Zone (Dubai), Mazaya Downtown (Kuwait), and Al Mazaya Residence (Oman) schemes
 
Egypt's Sisi inaugurates Orascom-built Burullus power plant

Egypt's Sisi inaugurates Orascom-built Burullus power plant

Orascom was part of consortium engaged on work for Burullus power plant, one of several megaprojects under development in Egypt
 
Dar Al Arkan announces resignation of CEO, appoints new chief

Dar Al Arkan announces resignation of CEO, appoints new chief

Ziad El-Chaar has resigned as chief executive officer of Saudi-based Dar Al Arkan
 



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