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      Michael Fahy

      Michael Fahy

      Location

      Articles

      Arabtec is in a strategic review of its management and its companies. Reem Mohammed / The National
      Arabtec chief says a shake-up is on the way

      A management review is part of the company's restructure, with new appointments pending as construction firm looks to raise funds.

      PropertyMarch 26, 2017
      Ian Bremmer of the Eurasia Group says “the Emirates is a country that’s actually on a good course”. Delores Johnson / The National
      Saudi’s NTP the right strategy, but may be too late, says Eurasia Group founder

      The plan set the right targets in attempting economic diversification, social reforms and improvements in education, he said.

      BusinessMarch 23, 2017
      Ian Bremmer of the Eurasia Group says “the Emirates is a country that’s actually on a good course”. Delores Johnson / The National
      Laptop ban is a sign of things to come, says Eurasia Group founder

      The Trump administration’s desire to appear tough on the threat of terrorism was a more likely motivator, said Ian Bremmer.

      BusinessMarch 23, 2017
      Meraas’ Bluewaters Island in Dubai moves into the ‘building-finishes’ stage

      Meraas Holding said construction work on the island is now 75 per cent complete, with the project moving on from its structural phase to building finishes.

      PropertyMarch 22, 2017
      A global Wealth Report published by the property consultancy Knight Frank placed Dubai fourth in a global ranking of cities with the biggest inflows of high net-worth individuals. Jumana El Heloueh / Reuters
      World’s billionaire population shrinking, but not in the Middle East

      The number of billionaires in the Middle East edged up by 1.3 per cent to 169 people last year although around the world the figure declined for the first time in several years.

      BusinessMarch 22, 2017
      Mr Guy’s designs are based on making the properties much brighter, using a palette of light greys and whites for furnishing. Olympio Bongat Jr
      Old Town apartments in Dubai with a new face for Dh3.7m

      This refurbishment of this two-bedroom property in The Old Town at Downtown Dubai has given the apartment a much brighter feel.

      BusinessMarch 22, 2017
      Arabtec Holding is attempting to raise Dh1.5bn through the rights issue to help strengthen its balance sheet after enduring a heavy run of trading losses stretching over nine consecutive quarters. Satish Kumar / The National
      Arabtec is on ‘top of risks’, says firm’s chief

      Hamish Tyrwhitt, the chief executive of Arabtec, believes that the company now has a handle on its accounts, with regards to further deterioration in its balance sheet.

      PropertyMarch 22, 2017
      Parsons appointed to oversee expansion of Sharjah International Airport

      The US engineering consultancy will oversee designs, site preparation, supervision of the construction and the handover of the first phase of the project.

      BusinessMarch 21, 2017
      Dubai start-up creates ‘green’ cement for 3D printing
      Camera5
      Dubai start-up creates ‘green’ cement for 3D printing
      BusinessMarch 21, 2017
      Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, right, on Monday launched a new entertainment destination on Jumeirah beach that will feature MGM and Bellagio hotels. Also present were Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, third from left, and Sheikh Ahmed bin Saeed, Chairman of Dubai Civil Aviation and Chief Executive of Emirates Group, second from left. Wam
      MGM and Bellagio hotels to be built at new resort site in Dubai

      According to a statement from MGM Resorts, the site will 'occupy the longest stretch of water­front ever developed in Dubai' along the Jumeirah Beach front.

      Travel and TourismMarch 20, 2017
      DP World’s Jebel Ali Free Zone helped the global ports operator increase earnings last year. Courtesy DP World
      DP World chief brushes off protectionism concerns over global trade

      DP World expects global trade'to remain resilient, even in an era where there is much discussion about protectionism and increasing trade barriers'.

      BusinessMarch 20, 2017
      Abdulla Ahmed Al Habbai, the group chairman of Meraas, has been named Dubai Holding’s chairman. Courtesy Dubai Media Office
      Abdulla Al Habbai appointed as new Dubai Holding chairman

      Abdulla Al Habbai, the chairman of Meraas Holding and Dubai Parks and Resorts, has been named Dubai Holding's chairman.

      BusinessMarch 19, 2017
      Abu Dhabi villas currently enjoy gross yields of about 7 per cent. Christopher Pike / The National
      Villa rental yields converge across Dubai and Abu Dhabi – report

      A Reidin/Global Capital Partners study argues that yields for villa properties have been converging over the past four and-a-half years as prices have followed similar patterns in both cities.

      PropertyMarch 19, 2017
      Arabtec is planning to initially raise Dh1.5 billion from investors in a move that would increase its current share capital to Dh6.bn from Dh4.6bn. Steve Crisp / Reuters
      Arabtec Holding’s board to meet on Tuesday to review results

      Publication of audited results and terms of its proposed rights issue likely to follow shortly after.

      PropertyMarch 19, 2017
      Above, construction activity in Riyadh. Payments owed by the government are being made to contractors, although slow in coming through. Waseem Obaidi for The National
      Light at end of tunnel for Saudi’s contractors, says Al Khodari

      'Active government bodies will award in the second quarter, and then in the third and fourth quarter you will start to see the revenue being booked.'

      PropertyMarch 18, 2017
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