Articles
Gulf contractors face tough market conditions amid cashflow constraints
Deloitte’s 2016 Powers of Construction report states that contract awards are likely to drop to $140 billion this year, a reduction of 17 per cent on the amount of awards last year.
Dubai office rents face summer of decline
Job cuts have led to more space trickling back onto the market at a time of weak demand, forcing landlords to cut rents and increase incentives.
Dubai landlords fight to keep hold of tenants but savvy buyers snap up bargains
Bulk buyers and bargain hunters move in as experts predict that market close to bottoming out after two years of decline.
Spain’s Grupo ACS bags Dh968m deal to build waste plant for Adnoc
Work on the contract is due to start next month and take 39 months to complete, finishing in the second half of 2019.
Rents fall in Abu Dhabi as confidence remains shaky
Asteco’s first-quarter property report for Abu Dhabi shows that rents across the city fell by 2 per cent quarter-on-quarter, with the most pronounced declines occurring on Reem Island as more new stock came on to the market.
Dubai Municipality awards conference centre contract
The convention centre will sit on a 55,000-square metre site in Al Jaddaf, facing Dubai Festival City.
Arabian Construction to build three-tower Emaar Residences project at Jeddah Gate
The high-rise towers will contain a total of 283 apartments, including a number of penthouses.
Saudi Arabia construction contract awards drop by 51 per cent in first three months
The bulk of contracts awarded were in the private sector, with 49 per cent in oil and gas, 21 per cent in hospitality and 16 per cent in residential property.
Abu Dhabi’s Etihad prepares group-level bond sale
Group chief executive James Hogan said the bond sale had been launched earlier this week, and that more details, including its value, should be made available 'within the next 24 hours'.
‘Best in Europe’ now the aim for Alitalia
Alitalia had lost market share to low-cost carriers, and Alitalia chief Cramer Ball said it 'makes more sense to work closely' with airberlin.
Alitalia on its way to 2017 profit with ‘most radical and fastest’ turnaround plan
Italy's loss-making legacy carrier launched turnaround plan when Etihad acquired equity stake in 2014 and remains ‘on track’.
Alitalia: Tired brand becomes a fresh taste of Italy
Alitalia has injected €20 million into its campaign, with 30 and 60-second advertisements being shown in Italy, the US, Brazil and Germany, as well as on social media.
Jeddah Tower: Future world’s tallest building delayed after contractor problems
The 1km-plus tower, formerly known as Kingdom Tower, has reached the 40th floor and is now due for completion by the end of 2019.
