• Union Properties swings to Q2 net profit


    Dubai-based developer Union Properties has reported a profit of Dh24.7 million ($6.7 million) attributable to shareholders for the second quarter compared to a loss of Dh2.29 billion for the same period last year.

  • Saudi Arabia awards contract for 10,000 residential units

    46 HOUSING PROJECTS COMPLETED
    Saudi government has signed two major agreements with real estate development companies to build some 10,000 housing units in Jeddah for beneficiaries of the Sakani (My Home) programme, said a report.

  • Swiss firm to build German Pavilion at Expo 2020


    A consortium comprising Cologne-based agency facts and fiction and Swiss construction company Adunic has won the bid to design and build the German Pavilion at Expo 2020 Dubai.

  • Saudi Aramco JV renews Jacobs' engineering contract

    FEED, DETAILED DESIGN SERVICES
    Jacobs Engineering Group said one of its subsidiaries has won a two-year contract renewal from Saudi Aramco Total Refining and Petrochemical Company (Satorp) for providing general engineering services at its plant in the Jubail Industrial City.

  • Sohar Aluminium in deal to set up $100m Oman plant


    Leading Omani industrial group Sohar Aluminium said it has partnered with Synergies Castings, a leading Indian manufacturer of aluminium alloy wheels, to set up a new $100 million manufacturing plant in the sultanate.

  • Oman's Galfar nets $1.2bn orders in H1


    Oman-based Galfar Engineering and Contracting has achieved an order-book of RO471 million ($1.22 billion) as of June 30, 2018, boosted by a raft of oil and gas contracts, said a report.

  • RSA inks deal with top UAE 3D printing group


    RSA Global, a leading third-party logistics provider, has joined forces with UAE-based Immensa Technology Labs, a leading additive manufacturing (AM or 3D printing) company, for the successful deployment of its virtual warehousing solution.

  • Bahrain's massive residential project on track


    Bahrain authorities said work was progressing at a steady pace on the massive government housing project coming up on a 1-million-sq-m area at Al Ramli which, on completion, will provide 4,501 residential units for 29,260 people.

  • EMPG raises $50m as part of investment round


    UAE-based Emerging Markets Property Group (EMPG), the parent company of leading property portals in the Mena and South Asia regions, has wrapped up a first close of $50 million as part of a substantially larger investment round.

  • Manazel H1 net profit surges 135pc to $36m


    Manazel Real Estate, a leading UAE developer, has posted a net profit of Dh132.9 million ($36.2 million) for the first six months of the year, up 135 per cent compared to Dh56.6 million during the same period in 2017.

  • Eaton explores ways to ease evacuation of high-risk towers


    Eaton, a global technology leader in power management solutions, is exploring ways to improve the evacuation of high-risk buildings with the introduction of cutting-edge technology and adaptive evacuation systems in commercial buildings.

  • BisB, Kingdom Properties sign deal for home financing


    Bahrain Islamic Bank (BisB) has recently signed an agreement with Kingdom Properties Real Estate to provide property financing for potential residents of the Janayin Al Hamala Project in Bahrain.

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Construction News

Union Properties swings to Q2 net profit

Dubai-based developer Union Properties has reported a profit of Dh24.7 million ($6.7 million) attributable to shareholders for the second quarter compared to a loss of Dh2.29 billion for the same period last year....



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