Archive for May, 2017

Sheikh Mohammed launches Dubai's new $1.7bn mega-project

Sheikh Mohammed launches Dubai’s new $1.7bn mega-project

18/05/17

Marsa Al Arab will include three new hotels, marine park, new Wild Wadi, Middle East’s first Cirque du Soleil theatre and a private resort, all to be built on two islands Dubai Ruler Sheikh Mohammed has announced the launch of Marsa Al Arab, Dubai Holding’s latest tourist destination development in the emirate. The $1.7 billion […]

Dubai secures $3bn loan for expansion of airports

Dubai secures $3bn loan for expansion of airports

18/05/17

Funding will be used to develop and expand both Dubai International Airport and Al Maktoum International Airport. Dubai’s government has said that it has secured $3 billion in long-term financing for the expansion of its airports, one of three multi-billion-dollar infrastructure projects that the emirate is planning to fund through debt, together with the building […]

Dubai Holding unveils $1.7bn Marsa Al Arab megaproject

Dubai Holding unveils $1.7bn Marsa Al Arab megaproject

18/05/17

Two-island project on either side of the Burj Al Arab hotel is set to break ground in June and complete by late 2020   Dubai Holding on Sunday unveiled Marsa Al Arab, a AED 6.3 billion ($1.7 billion) megaproject geared towards tourists that is set to be built on two islands on either side of […]

GCC building contracts to hit an all-time high of US$85.6bn

GCC building contracts to hit an all-time high of US$85.6bn

18/05/17

The Big 5 Heavy, Middle East’s largest event for the heavy construction industry, is expected to grab global contracts worth US$85.6bn in 2017, up seven per cent from US$79.5bn in 2016 for the regional construction market, states GCC Building Construction Market Report According to the report, the UAE tops the regional list of ranking, receiving […]

Top 10 GCC contract wins - April 2017

Top 10 GCC contract wins – April 2017

11/05/17

1. SNC-Lavalin wins FEED deal for Saudi Aramco plant Canadian contractor SNC-Lavalin has been awarded an engineering and project management contract by Saudi Aramco. The contract has been awarded as part of the Berri Increment Program. SNC-Lavalin‘s scope of work includes front-end engineering design (FEED) for a 250 MBCD [thousand barrels of oil per calendar […]

Contractors resubmit bids for Guggenheim Abu Dhabi

Contractors resubmit bids for Guggenheim Abu Dhabi

11/05/17

Construction companies have been asked to recommence their tender bid bonds for Guggenheim Abu Dhabi.  The news comes after Sufian Hasan Al Marzooqi, chief executive officer, Tourism Development and Investment Company (TDIC), confirmed in April that the museum was not on hold. “The commercial bid was submitted long time ago. It was verified and discussed, […]

Dubai Properties awards $55m contract for Bellevue Towers

Dubai Properties awards $55m contract for Bellevue Towers

11/05/17

Real-estate master developer Dubai Properties (DP) has announced that SEIDCO General Contractor is to work on the Bellevue Towers residential development. The contract is worth more than AED200 million ($55 million), according to a statement by the developer. SEIDCO has experience across a wide range of construction projects including high-rise residential buildings and housing complexes. […]

Nakheel releases tender for $182m RIU resort in Dubai

Nakheel releases tender for $182m RIU resort in Dubai

11/05/17

Nakheel, the Dubai-based real estate developer, has released a construction tender for an 800-room beachfront resort and water park at Deira Islands. Developed as a joint venture between Nakheel and the Spanish hospitality group RIU Hotels and Resorts, the project has an investment value of $182.4 million. The resort is also RIU’s first in the […]

Construction outlook improves in GCC, report says

Construction outlook improves in GCC, report says

04/05/17

The outlook for construction companies in the GCC will improve in 2017, according to the latest industry research report from MEED In Outlook for GCC Construction 2017, MEED reports that the region still offers significant opportunities for construction companies despite the slowdown in project spending. But the report warns that a fall in the volume […]

Plans unveiled for Sharjah’s tallest tower

Plans unveiled for Sharjah’s tallest tower

04/05/17

Jannah Al Khan Hotel & Spa will have 57 floors once it is completed. Developer Jannah Hotels & Resorts has announced plans for what will be Sharjah’s tallest tower upon its completion. The Jannah Al Khan Hotel & Spa mixed-use development will have 57 floors once completed, and be located at the Al Khan Lagoon, […]

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