Kuwait awards $11.5bn contracts for Al Zour refinery
State-run Kuwait National Petroleum Company (KNPC) has awarded KD3.48 billion ($11.5 billion) worth of contracts to build its planned Al Zour refinery, Kuwaiti state news agency Kuna reported.
Dubai home sales plunge; prices down
FURTHER DECLINE SEEN
Dubai home sales shrank by about two-thirds in the first half of 2015, and prices also slipped, with further declines expected over the rest of the year, property consultants JLL said in a report on Wednesday.
Work on New Suez Canal complete
Work on Egypt's New Suez Canal is complete, Suez Canal Authority chairman Mohab Mameesh said in a news conference on Wednesday.
453 new Mideast hotel projects in pipeline
The Middle East is witnessing a massive development in the hospitality sector with a total of 453 hotel projects planned in the next five years, a report said.
Dubai Investments posts $137m H1 profit
Dubai Investments (DI), a leading investment company, has announced a net profit of Dh506 million ($137.73 million) for the six months ended June 30, 2015, compared to Dh806 million ($219.39 million) for the same period last year.
Oman property deals' value tops $5.7bn in H1
The value of the real estate transactions registered in the first six months of the year in Oman reached RO2.23 billion ($5.7 billion), reflecting a 45.9 per cent rise compared to figures of H1 2014, a report said.
Samsung wins $2.46bn Qatar power plant deal
FACILITY D PROJECT
Samsung C&T Corp, South Korea's Number One builder, has won a 2.87-trillion won ($2.46 billion) contract to build a power plant in Qatar, a report said.
Oman-Saudi road link to be completed in October
A road connecting Oman and Saudi Arabia is set to be completed by October this year, according to a report.
Dubai theme parks market to top $1.36bn
Theme parks are pegged to rake in more than Dh5 billion ($1.36 billion) towards Dubai’s economy by 2020, said the organisers of an upcoming entertainment and leisure show in Dubai, UAE.
Qatar workshop highlights groundwater issues
Uniquip-Hoelscher, a water management company in Qatar, recently hosted a workshop to discuss groundwater issues and witness environment-friendly groundwater treatment technologies on the Gold Line of the Doha Metro.
GE Lighting backs Arab Future Cities Summit
GE Lighting has signed up as a ‘Smart Lighting Partner’ for this year’s edition of the upcoming second annual Arab Future Cities Summit 2015, a major event associated with smart cities in Dubai, UAE, said the event organiser.
China investment in Dubai property tops $354m
Chinese investors pumped in more than CNY2.2 billion ($354 million) last year in Dubai’s property market, marking a rise of nearly 300 per cent compared to a year earlier, said the organisers of an investment programme in China.