Nakheel posts $803m H1 profit
1,177 UNITS HANDED OVER
Dubai-based Nakheel, one of the world’s leading developers, posted a net profit of Dh2.95 billion ($803 million) for the the first six months of 2016, representing a four per cent increase on the figures for the same period in 2015.
UAE's property loans improve despite price slide: IMF
NON-PERFORMING LOANS DOWN
The quality of real estate loans in the UAE has continued to improve despite sliding home prices, the IMF said, in a sign that the UAE is coping better with a real estate downturn than it did in the last slump seven years ago.
Major foreign firms bid for Saudi clean fuels project
Foreign engineering companies have bid to build Saudi Aramco's clean fuels project at the state oil giant's Ras Tanura refinery, industry sources told Reuters.
Construction sector to boost Mideast FM market
The Middle East facility management (FM) market will be fuelled by construction activities and the strong presence of multi-national firms in the next five years, a report said.
Libya fund appoints PwC as strategic advisor
The Libyan Local Investment & Development Fund’s (LLIDF) has appointed professional services firm PwC as its advisor to support feasibility studies for three strategic projects.
Riyadh, Jeddah real estate slowdown continues
VISION 2030 MAY BOOST SECTOR
The real estate markets in the Saudi cities of Riyadh and Jeddah continue to maintain an overall slowdown in performance, according to a JLL report.
dorma+kaba wins Jordan cancer centre contract
dorma+kaba, a major player in access solutions, has won a contract for The King Hussein Cancer Center (KHCC) expansion in Jordan.
Turner & Townsend Mideast revenue up 24pc
The global professional services consultancy Turner & Townsend has increased its Middle East turnover by a quarter, and its profits by nearly a third, in the year ended April 30, 2016.
SNC-Lavalin wins Oryx GTL Qatar contract
SNC-Lavalin has been awarded an engineering consultancy and support services contract by Oryx GTL, a joint venture between Qatar Petroleum and Sasol of South Africa, for its gas-to-liquids complex at Ras Laffan Industrial City in Qatar.
Global firms in race to manage Saudi projects
Several international companies have submitted bids for a consultancy contract to manage Saudi Arabia’s National Project Management Office, part of an effort to keep state spending under control, a report said.
Residential rents decline in Dubai, Abu Dhabi
Residential rents in Dubai and Abu Dhabi moved downwards during the first half of this year, compared to the same period last year, according to a report.
Siemens ships locally produced gas turbines to Saudi plant
Technology major Siemens has delivered the first shipment of its locally produced gas turbines to the Integrated Gasification Combined Cycle (IGCC) power plant in Jazan, Saudi Arabia.