A new study reveals the UAE has raced past Saudi Arabia to become the biggest construction market in the Middle East for the first time since 2008. The report by accountancy firm Deloitte reveals that contracts worth USD 16.2 billion...
The Dubai Al Sufouh Tram Project - the first tram services to operate in the Middle-east region to begin operations in November 2014 The Al Sufouh Tram Project is one of Dubai’s most highly awaited infrastructural developments. According to the...
Saudi government announced on Sunday it has approved road construction contracts worth more than 3 billion riyals ($790m). Arab News reported Jabara Al-Seraisry, Saudi Arabia’s Transport Minister, signed 41 road contracts which cover developments valued at $56.8m (SAR 213m) in the Makkah...
JLL Survey Highlights Dubai amongst Global Metropolises with Stronger Economic Trends In order to determine and map out the futuristic developmental trends of leading metropolises, leading global property consultants, Jones Lang LaSalle (JLL) carried out the first City Momentum Index...
The number of 'Megatall' towers in the Middle East is likely to increase within the next decade, says EC Harris a global Built Asset Consultancy. Economic power, space limitations, and relaxed planning regimes, all conspire to empower developers to build...
The Dubai Canal project will transform the city through Real Estate and Tourism Innovation The Dubai Canal Project, a 14-million square feet mega development extending the Dubai creek water way into the Arabian Gulf offers a fresh perspective to waterfront...
According to the recently released Deloitte GCC Powers of Construction Report, 2013 is a year of optimism and opportunity in the GCC construction sector. The report titled 'GCC Powers of Construction: Meeting the challenges of delivering mega projects', proposes that the opportunities presented...
Unveiling District One: Welcoming the New-age Metropolis of Mohammed bin Rashid City District One of the AED30bn ($8.17bn) Mohammed bin Rashid City was unveiled on Tuesday, 28th January 2014, by His Highness Sheikh Mohammed bin Rashid, Vice-president, Prime Minister and Ruler...
Dhofar Steel announced a joint venture of Oman's Salalah Development Co, the Al Suwaidi Group of the United Arab Emirates and Saudi Arabia's Al Tuwairqi Group to build a $400 million steel plant in the southern Oman city of...
It was announced on Sunday that the Kaloti Group, one of the world's largest gold and precious metals refiners and trading houses, will be building one of the world's largest gold and precious metal refineries in the Jumeirah Lakes Towers...
Dubai Cityscape Global 2013 has attracted over 30,000 visitors, a 53 percent rise compared to last year. Cityscape Global is Middle East's mega real estate gathering event where participants showcase their latest property developments and peripheral real estate products and...
It was recently announced that Dubai will be the first Middle Eastern city to host a World Expo trade convention, which happens in 2020. With sustainability set to be one of the three core themes at the event, the World...
Azerbaijan has announced it seeks to build the tallest building in the world that will dwarf world's current record holder - Dubai's Burj Khalifa. The Caucasian state is riding high on oil revenues which has resulted in high-profile construction...
According to a recent study by EC Harris, titled, Global Construction Disputes: A Longer Resolution, construction-related disputes are taking the longest to resolve in the Middle East, although Asia and the UK are not far behind. The time-to-resolution of such...
Deloitte Survey Reveals Changing Preferential Moods: From China to the Middle-east  Despite the gloom and doom that overrode most of the global economy in 2013, the Asian economic giant China notched some significant successes as far as its economic activities...
Residents of Mogadishu wake up every morning to some good news, a rarity they've been afforded during the last eight months than ever before. A Turkish engineering team starts drilling of a new borehole soon after sunrise in a sprawl...
Dubai's economy is bouncing back with latest trade figures revealing that Dubai's trade grew exponentially to over 1.32 trillion dirhams (about US$ 362 million) in 2013, leading to a growth of about 7.6%. Regarded to be one of the richest...
The Saudi cabinet gave its nod to the country’s mortgage law on Monday for the infrastructure industry on which it is spending around $500 billion to build and develop. The mortgage law stipulates the regulations to establish mortgage companies and...
International and Chinese firms eye the $2.8 trillion GCC construction market With $2.8 trillion worth of projects planned or ongoing in the Gulf Cooperation Council (GCC) countries, international firms are increasingly eyeing the construction market in the region. At a...
Qatar and UK have joined hands to establish an independent, not-for-profit institute in Doha for understanding the financing, risk appraisal and management of large complex infrastructure projects. The newly launched Institute for Infrastructure Studies will strive to become the global...
With the GCC states investing up to USD 121 billion in different road and bridge infrastructure projects, the asset management industry is enjoying an unprecedented boom across the region. Some of the latest methodologies and strategies in asset risk management,...
The ruler of Fujairah has told a foreign news agency that the strategic oil pipeline bypassing the Strait of Hormuz will be operational by next month. "The pipeline will be operational in June," Sheikh Hamad bin Mohammed Al-Sharqi, whose east-coast...
Despite a fall in construction costs over the past year, Qatar is still an expensive place to build compared to the UK, new research said on Monday. According to the annual EC Harris International Construction Costs Report, the UK is...
Kingdom Holding's Prince Alwaleed Bin Talal announced on Sunday that Jeddah's Kingdom Tower would become the world’s tallest building when completed in 2017. He insisted that it will take no more than "63 months" to complete the 1,000m high skyscraper...
Omani utilities sector, funded by both private and foreign investors, is set to get a major boost as the construction of 16 power and water projects worth $3.1bn will increase water desalination capacity in the country, improve wastewater treatment...
A new report has pointed out that the Gulf Cooperation Council (GCC) contracting industry is set to maintain its strong growth momentum due to several large infrastructure projects in the pipeline. The Kuwait Financial Centre (Markaz) GCC Contracting Industry report...
About 3 million pilgrims will arrive in Makkah for the annual Hajj pilgrimage in October, many of them coming from a wealthy background. To cater to their need for luxury accommodation, hotel investment companies, including InterContinental Hotels Group Plc, Hyatt Hotels Corp. and Starwood...
Qatar is planning to spend around $125bn on construction and energy projects over the next six years, ahead of the FIFA 2022 Football World Cup, a new report said on Thursday. A report compiled by the Saudi NCB bank said...
World’s largest manmade lagoon to be built in Dubai with the possible entry into the Guinness Book of World Records  Crystal Lagoons Corporation, the patented technology developer of giant crystalline lagoons has announced that it will construct the world’s largest manmade lagoon in...
A New York property developer and an Abu Dhabi government fund are joining hands to develop a new shopping complex, five-star hotels and fine dining on Abu Dhabi's Al Maryah Island. The development is taking place in Sowwah Square, a newly...