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Construction costs set to rise in UAE, Saudi Arabia in 2024: Report
Dubai, UAE -- Construction costs are set to increase in the UAE by 2-3 percent, and in Saudi Arabia by 5-7 percent in 2024, following an increase of 3 percent and 7 percent respectively in 2023. Increases will challenge construction firms, which will need to develop new processes and capabilities to...
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Iran police tear-gas protestors after building collapse
Iranian police fired tear gas and warning shots to disperse protesters in the southwestern city of Abadan where a tower block collapse killed 28 people. It was the third night of protests in Abadan and other cities of the province which borders Iraq, local media reported. -
Arada awards two deals
Under the $125.23m contracts, a residential district will be built at Masaar. -
Sustainable construction key to greener MENA
Industry specialists in the region believe that the sector is becoming more sustainable despite many conflicting goals and complex challenges. “When tackling climate change it is, therefore, critical to address not only the operational carbon of buildings but also the embodied carbon and sustainable material use in construction,” Saeed Al... -
Demolitions in Jeddah cause anguish in residents
The Saudi doctor still had 15 years left on the loan he used to build his family's "dream" home in Jeddah when bulldozers razed it to the ground, turning his life into "hell". -
UAE’s first waste-to-energy plant set be commissioned
The 30 MW plant will displace almost 450,000 tonnes of CO2 emissions a year and preserve the equivalent of 45 million m3 of natural gas. -
Dubai South signs on Discovery Land to build luxury golf community
The agreement was signed between, Dubai Aviation City Corporation and Dubai South Executive Chairman Khalifa Al Zaffin and Discovery Land Founder and Chairman Michael Meldman. Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Dubai Civil Aviation Authority, and Chairman and Chief Executive of Emirates Airline and Group, was present at... -
Al Seer Marine signs VLGC deal
Al Seer Marine and BGN International sign the $134 million financial transaction. -
Star-studded projects point to Saudi transformation
Some of the iconic real estate holdings developed by Taiba throughout Saudi Arabia suggest that the Kingdom is headed towards an unprecedented economic transformation. -
UAE launches database to monitor energy, water consumption
Announced in July 2021, the national program aims to boost efficiency by 40 percent across the three most energy-consuming sectors in the UAE -
Jordan saw its GDP grow 2.2% in 2021 as compared to 2020
The numbers come from a quarterly statistical report released on Sunday by the Department of Statistics. -
PIF of Saudi Arabia looks to buy stakes in four construction firms
PIF, Saudi Sovereign Wealth Fund, is in talks with four construction firms in order to make investments to the tune of millions of dollars in the companies. -
UAE-Turkey real-estate conclave to tap into new opportunities
Called the UAE-Türkiye Real Estate Development Construction Roundtable, it will be held on Wednesday, March 30. -
The Bukhatir Group of UAE revives Tunisia $5bn construction project
The Bukhatir Group of the United Arab Emirates announced Thursday the relaunch of a $5 billion real-estate project in Tunisia, expected to boost the North African country's struggling economy. The initiative is expected to bolster the economy, as the country grapples with high public debt, inflation and unemployment. -
Protests rock Iraq’s southern area as food prices surge
Protests erupted Wednesday in Iraq's impoverished south over a rise in food prices that officials attributed to the conflict in Ukraine. For about a week, the price of cooking oils and flour have skyrocketed in local markets as government officials have sought to address growing anger with various statements and... -
Umm Al Qura inks $800m deal
The project will see an investment of SAR3 billion ($800 million). -
Saudi Exports organizes Commercial Mission for 30 businesses to Oman
Saudi Exports Development Authority (SAUDI EXPORTS) today organized a commercial mission for over 30 Saudi senior manufacturers and exporters in the constructions and foodstuff sectors to Oman. The mission, which targets 70 Omani companies, follows the two countries’ signing of memorandum of understating worth $30 billion for cooperation in various... -
National Water Carrier Project will be completed by 2027: Jordan PM
The government is "serious" in finding solutions to many pending investments, including Amman's Sixth Circle Towers project, the PM said. -
DP World begins construction of Banana Port in Democratic Republic of Congo
DP World and Government of the Democratic Republic of the Congo (DRC) Tuesday laid the first stone to mark the start of construction of the new Banana Port. The ceremony was attended by Félix-Antoine Tshisekedi, President of the DRC, and Sultan Ahmed bin Sulayem, Group Chairman and CEO of DP... -
Egypt finalizes pact with Siemens to run high-speed train line
Egypt’s Ministry of Transport will sign a contract with Siemens to implement the second high-speed train line in the country. Media reports said the new line will extend from October 6 city to Aswan, with a length of 925 kilometers (575 miles approx.) The ministry has finalized negotiations with the... -
Morocco starts construction of anti-Covid vaccine plant
Home to 36 million inhabitants, Morocco is hoping that its vaccination drive will help eradicate Covid-19. More than 23 million people have already received a second dose against coronavirus, according to the health ministry. Authorities hope to vaccinate 80 percent of the population with either Sinopharm or Pfizer-BioNTech. -
UAE Ministry of Economy receives 2,428 patent applications in 2021
The UAE's Ministry of Economy has received 2,428 patent applications in 2021, an increase of 26.7 percent from 2020 when 1,917 applications were received. In 2010, a total of 1,288 applications were received, compared to 157 in 2000. The total number of industrial model requests increased by 290 percent during... -
NMDC wins $354m contract
The contract is for the Shamal Development marine works. -
MYCRANE expands to India
The Dubai firm has appointed an exclusive pan-India franchisee. -
Evergrande to restructure debt
It also formed a risk committee before upcoming payment deadlines. -
As Libya returns to democracy, urban Benghazi struggles
Libya’s second city Benghazi has mushroomed to twice its size, creating an unplanned and chaotic urban sprawl. -
ADNOC awards $1.46 billion EPC contracts for Dalma Gas Dev Project
The two EPC contracts, awarded to National Petroleum Construction Company (NPCC) and a joint venture (JV) between Técnicas Reunidas and Target Engineering, include the construction of gas conditioning facilities, wellhead topsides, pipelines and umbilicals. Seventy percent of the award value will flow back into the UAE’s economy under ADNOC’s successful... -
Emaar property sales at $5.7bn
Emaar Development sales were AED20.943 billion in Jan-Sept 2021. -
Egypt questions new desert capital and its costs
Egypt President Abdel Fattah al-Sisi is building a new capital, whose construction costs are already under a microscope. -
AD Ports subsidiary forays into construction logistics market
MICCO Logistics, a subsidiary of AD Ports, has shown interest in tapping into the construction and metals manufacturing sector by expanding its ground fleet with the acquisition of 31 tipper trucks. -
RAK Properties profit rises 383%
Q3 net profit rose to AED197.9 million from AED40.97 million last year. -
Safari lands Saudi contracts
The contracts pertain to managing the King Fahd Causeway. -
QatarEnergy partners for UK project
This is QatarEnergy and Shell’s first hydrogen agreement. -
TAQA lands Aramco water project
The project will be used to make power and desalinate water. -
Marjan lands $272m RAK project
Dubai Investments and Marjan have tied up for the project. -
SODIC lands $100m loan
This will finance SODIC’s West Cairo flagship project. -
Saudi Arabia issues over 1,600 residential plots in September
The plots are said to have been issued under the country’s Sakani Housing program, which is a part of Saudi Arabia’s drive to increase homeownership among the Saudi families. More than 145,000 families have benefited from the program since the beginning of this year until August. -
Madayn lands Oman solar deal
Madayn has signed a deal to build a 100MW solar PV farm. -
$2bn Arada project in new phase
Arada has launched the second residential phase of Masaar. -
Prescott announces Dubai project
The project is worth AED140 million (more than $38 million). -
Mace, global construction firm, to build $4.3bn lifestyle project in Riyadh
Mace, the global construction company, will be working on a big lifestyle destination project in Riyadh, its developer Majid Al-Futtaim said. -
Saudi Arabia ‘racing against time’ to finish F1 track
The floodlit circuit is expected to run over 6.175 km (3.8 miles), the second-longest on the calendar, and will feature 27 corners. -
EZDubai starts four projects
It already has 1.3 million sq ft developed and handed over. -
Al-Nefaie named Seera Group CEO
He was appointed acting CEO of the group in April -
Aramco, McDermott eye onshore modular construction
Saudi Arabia is aiming to give a boost to local industries and in this regard Aramco and McDermott, the US-based contractor, are looking at the feasibility of localizing onshore modular construction. -
$250bn GCC rail project on track after hiccups
The project linking the six GCC countries is expected to boost exports, diversify mode of transportation and reduce carbon emissions by cutting the need for trucks and cars. -
Saudi mega power plant still seeking takers
The Ras Al Khair plant produces 1.05 million cu m of desalinated water per day and generates 2.65 GW of power. -
Iran needs more than $1 billion to improve roads
Iran plans to improve the condition of the major freeways and highways, and expand the country’s freeways network to 10,000 kilometers. -
AD Ports plans new $154m terminal
The new terminal will be at the Khalifa Port in Abu Dhabi. -
Chapman Taylor designs Jeddah park
The airport City Central Park is designed as a botanical garden. -
Emaar EC eyes $3bn capital hike
Its board of directors has okayed a 33% hike in its capital.