Articles
Dubai's Drake & Scull says it has not hired adviser to seek investment
Statement was issued after the company’s chief financial officer, Kailash Sadangi, told Reuters on Monday that Drake & Scull had asked advisers for proposals to review its business and find strategic investors.
Orascom second-quarter profit slides
Chief executive Osama Bishai said that the company was targeting projects where it has an edge and there is some certainty over funding.
Dh2.9 billion grant to kick-start building of Bahrain’s North City
Al Madina Al Shamliya, or North City, project is set to be built on reclaimed land to the north of the island, close to Budaiya.
Dubai’s Damac awards Dh967m contract to build Aykon London One tower
Damac has appointed Australian property construction and development company Lendlease to build its first major development outside the Middle East.
Handover of Dubai projects delayed as authorities get tough on fire safety
Companies are 'scrambling to test systems on projects that are under construction' to make sure they meet the requirements of the new code, which requires that buildings use the higher-rated A2 ACPs.
UAE cladding firms invest in upgrades to produce more fire-resistant panels
A2 Standard panels are in the process of being made compulsory under the UAE’s Fire & Life Safety Code.
‘Imminent’ rise in Dubai house prices as conditions improve, new report says
Recent positive trends in equity and oil markets and the limited supply of new units all point to a citywide increase in property prices.
China’s investment in $10.7bn city in Oman to provide building boost
Projects such as the Sino-Oman Industrial City will help to underpin growth for construction in Oman, which it expects to accelerate from a growth rate of 2.4 per cent this year to 4.9 per cent by 2019.
Dubai Water Canal, Jewel of the Creek and other infrastructure projects a boon for contractors
Infrastructure projects such as Shindagha Crossing, Dubai Canal facilities and upgrades to metro networks will keep contractors busy.
Dubai office rents remain flat as companies opt to stay put
Despite the flat market, Cluttons did not expect significant future falls in commercial rents.
Dubai’s Drake & Scull blames cancelled contracts and tough Saudi market for second quarter loss
For the first six months of the year, the company reported a net loss attributable to its parent company of Dh197m.
Abu Dhabi rents and house prices set for further falls but yields still strong for investors
Chestertons Mena said the luxury sector of the market had been hardest hit 'due to a reduction in spending, compounded by cuts to government spending due to lower oil prices'.
Arabtec still in the red but losses reduced by 74 per cent
The company posted a net loss attributable to its parent company of Dh186.4 million.
