Articles
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.
Arabtec looks to shore up balance sheet as Dubai contractor’s losses narrow
Notes to its accounts reveal that a new dispute has emerged with a minority shareholder of its Qatar subsidiary.
Tiles arm lays out way forward for RAK Ceramics as profit rises 9%
Increase in net profit for the first three months of 2016 to Dh65.9 million, despite turnover dropping by 1.1 per cent to Dh735.7m.
UAE residents go house hunting: Buyer interest at two-year high, says propertyfinder.ae
The level of interest has increased by 28 per cent since January.
Dubai’s Drake & Scull Q1 net profit falls 61 per cent
Despite the results, the company argued that it had made progress with a strategy embarked upon last year to cut costs, improve margins and to try to boost its working capital.
Egypt’s Palm Hills aims to set up shop in Dubai
Palm Hills is one of Egypt’s biggest property developers, with a current market capitalisation of about US$620 million.
Hill JV wins Dh152m contract for new Lusail LRT in Qatar
The Light Rail Transit system will run for 38.5 kilometres through Lusail City, a new $50 billion city being built to the north of Doha.
Saudi Binladin to lay off another 14,000 staff, bringing total departures to 69,000
Spokesman said that final payments to the next batch of departing employees will be made 'late May, early June'.
Sharjah rents fall 8% and decline set to continue in line with Dubai
Cluttons said that weaker conditions in the Sharjah market are likely to continue as the year progresses, with average rental falls of between 3 and 5 per cent predicted.
After 40 years in the UAE, serial entrepreneur knows his business
Serial entrepreneur Mahmoud Awad's string of disparate businesses have one thing in common - a leader who keeps a keen eye on the books.
Arctic air con and slow lifts top office workers’ biggest complaints
'Staff not only waste time waiting for lifts – up to 10-15 minutes – then they arrive very frustrated. When they want to go for a break or for lunch they waste more time and get more frustrated.'
Land sale pushes up Amlak first-quarter profit
The Sharia-compliant home finance company reported a net profit of Dh123 million for the first quarter this year, compared with a profit of Dh6.1m in the same period last year.
Union Properties Q1 profit up 50% despite lower income
'We are riding this cycle and I think the market will rebound hopefully within one year’s time,' said chairman Khalid Bin Kalban.
Aldar planning more mid-income schemes in Abu Dhabi
Aldar recently launched the Dh6 billion, 1,315-villa Yas Acres scheme and is seeing 'very strong demand'.
