• DIFC Investments, Emaar ratings downgraded over Covid crisis


    The ratings of three major Dubai real estate development companies - DIFC Investments, Emaar Properties and its retail subsidiary Emaar Malls - have been downgraded on increased economic pressures stemming from spread of Covid-19 pandemic, said a report.

  • Egypt plans to build 765,000 homes over next three years

    $10.3bn INVESTMENT
    Egypt is set to build a total of 765,000 housing units over the next three years across the country at a total investment of E£165 billion ($10.3 billion). Of this, nearly 100,000 homes will be completed during the 2020/2021 fiscal year, said a report.

  • Work on UAQ waste-to-energy plant nearing completion


    Work is nearing completion on a waste-to-energy plant coming up over a 400,000-sq-m area in the northern emirate of Umm Al Qaiwain. Once operational, it will process the waste generated in Ajman and UAQ for producing energy to power the cement plants.

  • Majid Al Futtaim sets up largest Carrefour e-fulfilment centre in Dubai


    Majid Al Futtaim, a leading mall and leisure pioneer, has opened its largest Carrefour online fulfilment centre in Dubai. The 5,000-sq-m facility has been set up at Al Garhoud area to ensure quick delivery of products to e-shoppers across the emirate.

  • L&T names three top executives to company board


    India's top engineering and construction firm L&T said its board has inducted Subramanian Sarma as an executive director and elevated SV Desai and T Madhava Das to the board, thus reflecting its resolve to chart an aggressive future in its businesses.

  • KCPC wins Kuwait Sabah Al Ahmad City project work


    Kuwait Company for Process Plant Construction & Contracting (KCPC) said it has secured a contract from the Public Authority for Housing Welfare for asphalt paving and maintenance works within Sabah Al Ahmad City Sector B.

  • Baytik Industrial Oasis picks Savills as property, FM manager


    Baytik Industrial Oasis, a high-specification industrial complex in Bahrain International Investment Park, has appointed real estate advisor Savills to provide property, facilities management, marketing and leasing services for the 54,072-sq-m facility.

  • Majid Al Futtaim breaks ground on premium Dubai gated community


    Majid Al Futtaim, a leading mall developer and leisure pioneer in the region, said it has broken ground on Elan, a gated community comprising a mix of premium three- and four-bedroom properties, within its flagship Tilal Al Ghaf development in Dubai.

  • TRSDC awards Red Sea airport project work contract

    NESMA-ALMABANI JV TO START WORK
    The Red Sea Development Company (TRSDC) has awarded a key airside infrastructure works contract to a joint venture of Nesma & Partners and Almabani for the international airport coming up within the ambitious tourism project in Saudi Arabia.

  • Dubai records 76pc drop in pedestrian fatality


    Constructing footbridges in Dubai has helped reduce pedestrian fatalities by 76.5% between 2007 and 2019, said Mohammed Al Tayer, Director-General and Chairman of Roads and Transport Authority (RTA),

  • Dewa's key unit launches smart cities command centre


    Moro Hub, a wholly-owned unit of Dubai Electricity and Water Authority, has announced the opening of its Smart Cities Command and Control Centre that will provide intelligent IoT platforms, cyber security and managed services, for Dubai 10X initiatives.

  • Alstom-led consortium delivers Dubai Red Line extension


    Alstom said its ExpoLink consortium had played a major role in the completion of the Dh11-billion ($2.9 billion) Dubai Route 2020 metro project. The extension of the Red Line has seven stations including Jebel Ali and the flagship station at the Expo site

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DIFC Investments, Emaar ratings downgraded over Covid crisis

The ratings of three major Dubai real estate development companies - DIFC Investments, Emaar Properties and its retail subsidiary Emaar Malls - have been downgraded on increased economic pressures stemming from spread of Covid-19 pandemic, said a report....



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