Foundation laid for massive Madinah city
Saudi Arabia has launched work on the massive King Abdullah City for Pilgrims in Madinah with the laying of the foundation for the project. The SR55 billion ($14.66 billion) project, being developed by Dar Al-Hijrah Company.
Seef Properties registers $9.1m net profit
Seef Properties has reported a 3.4 per cent increase in net profit at BD3.42 million ($9.06 million) for the first half of the year when compared with BD3.31 million for the same period last year.
Work on Bahrain homes project begins
Bahrain's Housing Ministry has started work on the first phase of the BD18 million ($47.5 million) East Hidd housing project, which will include 483 units.
Saudi state fund plans housing firms
Saudi Arabia's Public Investment Fund (PIF) aims to establish companies in areas including housing, petrochemicals and technology as it expands its investments locally and overseas, Finance Minister Ibrahim Al-Assaf said.
Grohe buys majority stake in Dawn unit
Germany-based Grohe Group has acquired a majority stake in the WaterTech portfolio of Dawn to become the market leader in South Africa.
QSTec, Qatar Rail target solar energy prospects
Qatar Solar Technologies (QSTec) has signed a deal with Qatar Railways Company to explore opportunities that may lead to the installation of up to 80 megawatts of solar technology within Qatar’s upcoming rail network.
UDC posts 34pc increase in H1 profit
United Development Company (UDC), a leading Qatari shareholding company and master developer of The Pearl-Qatar, has reported a net profit of QR521 million ($143 million) in the first half of the year, up 34 per cent.
Deyaar profit doubles on new project launch
Dubai-based property developer Deyaar said on Wednesday its second-quarter net profit more than doubled, buoyed by the launch of its hotel apartment project.
Dubai office rents continue to rise: CBRE
Dubai’s office rents are continuing to rise due to the growing economy and increasing business confidence, according to a CBRE report.
Dilmunia wins visual identity award
Dilmunia at Bahrain has won the best visual identity award at the 2014 Transform Mena Awards in recognition of its strategic and creative visual brand positioning.
Alwaleed Foundation offers 617 homes to needy
Saudi-based Alwaleed Bin Talal Foundation chaired by Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud, has provided 617 residential units for Saudi citizens in need.
Bahrain's first 'green' school project unveiled
Work on Bahrain's first school integrating modern green technology is 60 per cent complete.