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Tag: uae

Construction & Real Estate

ALEC Holdings posts $1.25bn Q1 revenue, up 87%; net profit doubles

ALEC Holdings, a market-leading diversified engineering and construction group with operations focused on large-scale, complex and iconic buildings and energy projects in the UAE and the KSA, reported a strong set of results for the first quarter ended March 31, 2026 (Q1 2026)....

Construction & Real Estate

Tawazun, Lockheed Martin to set up chiplet design, assembly plant in UAE

Leading UAE defence group Tawazun has joined hands with top global security and aerospace contractor Lockheed Martin to establish an advanced microelectronics assembly facility in the UAE. The project will be executed in partnership with EDGE and Khalifa University of Science and Technology. ...

Construction & Real Estate

betterhomes announces exclusive launch of 93-storey Dubai tower

UAE real estate agency betterhomes has announced the exclusive launch of City Tower, a premium long-term leasing address on Sheikh Zayed Road in Dubai, in collaboration with H&H. The 93-storey tower offers 695 residences - ranging from studios to four-bedroom homes - available to move in from June 20. ...

Construction & Real Estate

Takeem launches UAE’s first rental guarantee service

Takeem, an PropTech platform in the UAE, said it has launched the country's First Rental Guarantee service, a value-added offering for landlords, tenants and agents as regional markets navigate renewed uncertainty. The Takeem guarantee covers landlords against tenant non-payment and includes emergency maintenance for urgent property repairs. ...

Construction & Real Estate

Construction sector eyes AI to tackle daily workload pressures, says study

Majority of construction professionals (58%) believe AI could help reduce workload across their two biggest challenges - keeping projects on schedule and managing mid-project changes - while 65% believe AI could streamline their biggest administrative time drains, according to a new study. ...

Construction & Real Estate

GCC projects market hit by Iran war, contracts down 9.7pc

The GCC projects market experienced a slowdown in the first quarter due to the Middle East conflict with the total value of contracts plunging 9.7% to $61.2 billion, according to a report. This contraction was driven largely by a substantial downturn in contract awards within Saudi Arabia and UAE. ...

Construction & Real Estate

Object 1 announces Abu Dhabi foray with new 171-unit residential tower

UAE developer Object 1 has announced the official launch of its inaugural residential project in Abu Dhabi - A1LA Residence - featuring 171 apartments, including one- to three-bedroom units as well as a limited collection of two- and three-bedroom duplexes across 17 residential floors. ...

Construction & Real Estate

Dubai, Abu Dhabi see robust demand for ultra-luxury homes

The prime UAE real estate markets of Dubai and Abu Dhabi have reported strong demand for ultra-luxury residential properties, thus reflecting growing investor confidence and an increasingly selective market where capital is concentrating in key locations and credible developments, said an industry expert. ...

Construction & Real Estate

Ajman's Q1 real estate valuation surges 63pc to $795m

The northern emirate of Ajman has recorded a notable increase in the number of real estate valuation transactions during the first quarter of this year, with growth reaching 63%, totalling AED2.92 billion ($795 million) across 961 transactions, said a report, citing a senior government official. ...

Construction & Real Estate

UAE launches innovative microgrid project for government buildings

The UAE's Ministry of Energy and Infrastructure (MoEI) has announced the launch of an innovative strategic project to implement microgrid systems, marking a significant step forward in reinforcing the country’s approach to building a smart, resilient, and adaptive energy ecosystem. ...

Construction & Real Estate

Kingdom in deal with Sumou for $1bn prime Riyadh plots

Kingdom Holding Company has announced that its key subsidiaries have signed an agreement with Sumou Real Estate Company to manage infrastructure development and sale of 3.07 million sq m land plots in Riyadh. The project is estimated to generate approximately SAR4 billion ($1.08 billion) in total sales. ...

Construction & Real Estate

UAE authorities review progress on $1.6bn Federal Corridor project

The UAE authorities have announced the details of the AED6 billion ($1.63 billion) Fourth Federal Corridor project, one of the country’s flagship road projects, which will see the construction of a 68-km road, featuring 10 major intersections, 6 to 8 lanes in each direction, and 4 flyovers. ...

Construction & Real Estate

UAE real estate services market to surpass $26bn by 2031

The UAE real estate services market is projected to grow from AED74.53 billion in 2026 to AED97.60 billion ($26.41 billion) by 2031, expanding at a compound annual growth rate (CAGR) of 5.54%, according to a new study....

Construction & Real Estate

Empower Insulated Pipe Systems delivers solid performance in 2025

Empower Insulated Pipe Systems (Elips), a subsidiary of Emirates Central Cooling Systems Corporation, recorded strong operational performance for FY 2025 expanding its regional and international reach. The year also witnessed the addition of more than 30 new vital projects to Elips' business portfolio. ...

Construction & Real Estate

Four global firms in race for 3GW Al Nouf 1 CCGT plant

Emirates Water and Electricity Company (Ewec) has announced that it has received four competitive proposals for the development of Al Nouf 1 Independent Power Producer (IPP) project. The country's largest single-site carbon-capture-ready CCGT plant, it will generate up to 3.3GW power once operational. ...

Construction & Real Estate

Arada starts handover of five new residential blocks in Sharjah mega project

UAE developer Arada said it has completed the construction and begun handover of five new residential blocks in Naseej District within its AED35 billion ($9.5 billion) Aljada megacommunity in Sharjah. It comprises 482 apartments with a mix of one- to three-bedroom units along with smart home features....

Construction & Real Estate

UAE advances global water security through innovation, sustainability

The UAE is marking this year's World Water Day reaffirming its commitment to advancing global water security and sustainable water resources solutions. It's water strategy is underpinned by major financial pledges, including its $150 million COP28 pledge and the $60 million 'Clean Rivers' programme. ...

Construction & Real Estate

Azizi's metro-linked residential project in Dubai 55pc complete

UAE-based Azizi Developments has announced that work is moving at a steady pace on its contemporary, metro-connected residential development - Azizi Zain - within the Al Furjan community development in Dubai, with nearly 55% of the project already completed. ...

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