Articles
Oman builders to restructure as losses mount
Galfar Engineering & Contracting said that its reorganisation would include cutting overheads, improving productivity, better talent and liquidity management and improved site execution and productivity.
Sharjah introduces online payments system for contractors
Contractors working for Sharjah’s Department of Housing can expect the amount of time they wait for payment once they file a completion certificate for work carried out to fall to 45 days, from a current period of 90 days.
New construction contract awards in Saudi Arabia drop 25% in final quarter of 2015
Contractors have faced 'significant changes' over the past six months as the government has sought to get to grips with lower oil prices by cutting infrastructure spending and reducing advances paid to contractors on projects.
Egypt’s dollar black market thrives a year after its ‘death’
'There’s no black market [in foreign exchange] any more,' said Hisham Ramez, the then-Egyptian central bank governor, during the economic development conference at Sharm El Sheikh in March last year.
Money & Me: Dubai digital agency chief was a millionaire at 24
Owner of Dubai-based digital branding agency then lost everything by 26. Now, at 35, he drives a Dh500,000 Porsche and tries hard to earn more than he spends.
Nakheel to advise major Saudi property developer on new schemes
The deal is Nakheel’s first venture outside of the UAE, allowing for further diversification of its revenue streams away from a sluggish Dubai residential market.
Arabtec wins Dh1.1bn deal to build twin Dubai towers
Contract for 'prestigious' residential development will see it erect a pair of 50-storey towers in central Dubai.
Street of Dreams in Dubai Hills is ready for clients, says Emaar
Emaar Properties' senior development director Yasser Nabil expects golf course and first Street of Dreams villas to be ready before end of 2016.
High hopes UAE among early adopters of Hyperloop transport system
Hyperloop is a tube-based transportation system currently under development that can move containers or up to 40 people in a single capsule at speeds of up to 1,100 kilometres per hour.
Oman Rail stays on track but first line may roll out only after 4 years
Oman Rail had already significantly advanced plans for its $11 billion rail network, which was due to be built in four segments.
Orascom picks up $200m of new industrial projects
Wins include a US$20 million contract to supply structural steel to BP's $12 billion West Nile Delta project.
Damac plans 15 per cent cash dividend payout for second half of year
Company maintains its pledge to offer shareholders a cash dividend of at least 25 per cent in 2016 despite worsening market conditions.
Masdar trials desert fish farms and biofuels grown with seawater
The UAE imports about 90 per cent of its food, but it is hoped that by promoting aquaculture using seawater, the country could grow more of its own fish and shellfish.
Salaries still edging up in UAE construction sector
Hiring rates down but construction firms are willing to pay more to attract the right candidate, says Morgan McKinley.
