Thursday 14 December 2017

Kuwait group Gatehouse exits US industrial portfolio

Gatehouse Financial Group (Gatehouse), a leading real estate focused shariah-compliant financial services group based in Kuwait, said it has successfully completed the sale of its US Industrial Portfolio (USIP) Net Leased portfolio III. The 3.3-million-sq-ft portfolio, comprising


Alba Line 6 Expansion Project work in full swing

Aluminium Bahrain (Alba), the first aluminium smelter in the Gulf region, has been making steady strides in the construction of its landmark Line 6 Expansion Project in order to meet the first hot metal (FHM) schedule on January 1, 2019, according to a statement issued by Alba Chairman Shaikh


MAG rebrands property development unit

Dubai-based MAG Property Development (MAG PD) has rebranded itself as MAG Lifestyle Development as part of the evolution of the company’s long-term strategic vision and roadmap for the future. The strategic rebrand focuses MAG Lifestyle Development on building environments


Eagle Hills launches sale of Belgrade Waterfont homes

UAE-based real estate developer Eagle Hills and Belgrade Waterfront Capital Investment have launched the sales of The Residences at The St Regis Belgrade, a collection of luxury residences, presented to Europe for the first time. Belgrade Waterfront, a spectacular new city hub co


Saudi Arabia approves $19.2bn stimulation plan

Saudi Arabia's King Salman bin Abdulaziz Al Saud has issued a royal decree approving the private sector stimulation plan and allocating a total of SR72 billion ($19.2 billion) for the plan.    The private sector stimulation plan is based on what has adv


Big 5 to be back in 2018 with an expanded platform

The Big 5, the largest construction event in the Middle East, will be back next year in Dubai, UAE, with a host of new co-located events. Against the backdrop of a successful 38th edition of the expo last year, organisers dmg events Middle East, Asia & Africa are further broa


$1.2bn Kuwait hospital set for March opening

About 70 per cent of the work at the New Jahra Hospital, a $1.2-billion development taking shape on a 440,000-sq-m area in Kuwait, has been completed and the 1,171-bed facility is on track for completion by March next year. One of the largest healthcare projects in the Middle Eas


CB&I wins Saudi Aramco Shell refinery deal

CB&I, a leading global player in the technology and infrastructure services sector, has announced it has been awarded a contract worth more than $95 million by Saudi Aramco Shell Refinery (Sasref). Sasref is a joint venture between two of the biggest oil and gas companies in the wo


FAB opens new headquarters in Abu Dhabi

First Abu Dhabi Bank (FAB), the UAE’s largest bank, celebrated the official inauguration of its bank’s headquarters in Khalifa Business Park, Abu Dhabi, at an exclusive event attended by senior management.    The new headquarters was inaugurated


Sharjah announces opening of new highway

The Sharjah Roads and Transport Authority (SRTA) has announced the opening of a new road in the central region built at a cost of Dh57 million ($16 million). The project, which extends from Mahafez to Fayah, has been upgraded from a one-way road to a two-way highway, said a state

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