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Eni profit falls due to dip in oil prices

Q2 net profit fell by 18% to $637 million.

Emirates NBD H1 profit $3.40bn

Total income rose by 12 percent in the same period.

ADIB H1 pre-tax profit $1.08bn

Q2 pre-tax net profit increases by 14 percent.

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UAB net profit up by 50% for H1

Total assets increase by 11 percent.

Contracts worth $2.3 bn awarded across Aldar development projects

The entire Reflection II development has been designed with sustainability throughout the project's lifecycle.
  • A total of 16 contracts were awarded in infrastructure, residential, commercial, and mixed-use projects in Abu Dhabi.
  • The contracts were awarded to 14 They UAE-based contractors, which contributed to the growth of economy, Aldar said.

Aldar Properties (Aldar) said on Tuesday that contracts worth more than AED8.5 billion ($2.3 billion) were awarded across its development projects in 2021.

Sixteen contracts were awarded spanning infrastructure, residential, commercial, and mixed-use projects in Abu Dhabi.

They were awarded to 14 different UAE-based contractors, resulting in a significant contribution to the local economy, Aldar said.

Aldar said that through these contracts, it has created a positive impact via direct and indirect job creation and supported a broad range of local businesses, in line with the UAE’s National In-Country Value (ICV) programme.

Adel Abdulla Albreiki, CEO of Aldar Projects, said, “Aldar continues to be a key strategic partner in enhancing Abu Dhabi’s profile as a world-class destination by delivering on owned and managed projects across the capital.

In 2021, Al Shafar General Contracting (ASGC) was awarded a contract for mixed-use development and infrastructure works at Saadiyat Grove and Al Gurm, respectively. Fibrex won a contract to develop villas at Noya, Trojan was awarded the villa development contract at Yas Acres, and Nael General Contracting was awarded the contract to develop villas at Wathba.

Infrastructure projects were awarded to National Projects & Construction (NPC), Nael & Bin Harmal Hydroexpert (NBHH), Western Bainoona Group (WBG), and Hilalco. Further projects were awarded to Al Ryum, Gulf Landscape, ATS, Emirates Links, ENGSOL and Dutco.

Already in 2022, new development project contracts have been awarded to the UAE-based businesses across two projects on Saadiyat Island, with plans for further work to begin throughout the year.