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AD Ports Group 2024 net profit $484m

The Group's revenue increased 48 percent year-on-year.

TAQA net income $1.93bn in 2024

The company's revenues increased 6.7 percent year-on-year.

ADNOC L&S 2024 net profit $756m

The company's revenue increased by 29 percent to $3.54 billion.

ADNOC Distribution 2024 net profit down 7%

Minus UAE corporate tax, it would have grown by 2.4% to $725m

Maaden raises $1.25bn in sukuk offering

The Sukuk were offered in a five-year and a 10-year tranche.

Bahrain to spend $324 million to build over 1,300 flats in Salman City

    • Salman City began its life in 2018 as Salman Town in the Northern Governorate of Bahrain, and was initially spread over 10 man-made islands

    • Since then, it has grown to cover 740 hectares of land as more islands have been added to this ambitious housing project

    Bahrain plans to build a total of 1,382 flats on Island 12 of Salman City at a cost of BD123 million ($324 million), said local reports on Sunday, July 18.

    This is part of a big residential development project, said the reports, adding that it is likely to be completed by the second quarter of 2023.

    It is also part of the Government Action Plan (GAP), which stipulates the construction of 25,000 flats to meet the needs of applicants who are on the waiting list.

    Salman City began its life in 2018 as Salman Town in the Northern Governorate of Bahrain, and was initially spread over 10 man-made islands.

    Since then, it has grown to cover 740 hectares of land as more islands have been added to this ambitious housing project.

    The local reports quoted Bahrain’s Housing Minister Bassem Al Hamer as saying that the new flats would be built as part of the general blueprint of the Salman City.

    The minister stressed the importance of the project in meeting the growing demand for flats in the Northern Governorate and other areas.

    He said the ministry was focusing on sustainable development. This, he said, would be reflected in the Salman City project through the use of renewable energy and recyclable materials.

    The project will also have open areas, cycling lanes, and children’s gardens, said the local reports.

    “Most of the flats have been designed to look out on green spaces — parks, gardens and the 40-km-long beachfront cycling and walking lanes,” said the minister.