Arab Banks Invest $2.8 Billion in Infrastructure, Agriculture and Hospitality

UPDATE 1-Gulf investors launch $2.8 bln in new Islamic firms
Reuters - USA
By John Irish DUBAI, Aug 27 (Reuters) - Three Gulf Arab banks will launch a specialised bank to finance infrastructure projects, an agriculture firm and a hospitality fund as rapid growth in the Middle East and North Africa lures billions in new investment. ...The ambitious plans, the latest in a string of multi-billion-dollar projects, come as a five-fold rise in oil prices since 2002 fuels breakneck growth in the energy exporting nations of the Gulf, Middle East and North Africa. ...

Hill International Project Managers for Tamweel Headquarters Building at Business Bay

Hill International Selected as Project Manager for Tamweel Headquarters Building at Business Bay
Al-Bawaba - Amman,Jordan
Hill International, the worldwide construction consulting firm, announced today that it has been awarded a contract by Tamweel P.J.S.C. to provide project management services for Tamweel Headquarters Building at Business Bay, Dubai, UAE.  The twenty-six month contract has an estimated value to Hill of approximately AED 7 million ($1.9 million). ...The design of the building is characterized by the twisting of every 4-storeys block forming an architecturally interesting form. ...

Emaar Properties Building a $1.8 Billion Villas at Sidi Abdel Rahman Bay

Armani designs villas at $1.8 bln Egyptian resort
Reuters South Africa - Johannesburg, South Africa

MILAN, Aug 27 (Reuters Life!) - Giorgio Armani will design his first villas for a $1.85 billion gated community development in Egypt that is just two hours' drive from Cairo, the Italian fashion designer said on Wednesday. Emaar Properties is building the 9.9 billion Egyptian pounds ($1.8 billion) gated community at Sidi Abdel Rahman Bay, on 1544 acres of what Armani described  in a statement as "the best stretch of beach on the north coast" of Egypt. ...

Palm Utilities Expansion Plans Includes Abu Dhabi & India

'We are in the process of setting up base in Abu Dhabi'
Zawya - Dubai, United Arab Emirates
Keith Levers, CEO of Palm Utilities, says that its USP and success in the market lies in engaging with every individual end user. Expansion plans include setting up a company in Abu Dhabi and signing MoUs in India, with potential for more in Egypt and Malaysia. ...

Dubai Real Estate Investment Comparison

Real estate investing
International Business Times - New York,NY,USA
Dubai announced a wave of changes to its laws governing foreign freehold ownership of real estate in 2002, drawing in vast amounts of property investors as investors as the property sector exploded. ...On average, a villa in Dubai will cost around $1,000 per square meter with is cheaper in comparison to western areas like the London Docklands where a square meter will cost anything around $5,000. ...

ACI Real Estate and Ferretti Group Launch "Ferretti Luxury" and “Pershing Luxury" Beach Residence Towers

Ferretti Luxury Beach Residence and Pershing Luxury Beach Residence Launched
Al-Bawaba - Amman,Jordan

ACI Real Estate and Ferretti Group today launched two luxury waterfront residences, "Ferretti Luxury Beach Residence" and "Pershing Luxury Beach Residence". Announced earlier this year, the two companies joined hands in what is believed to set new trends in luxury waterfront living. The freehold ownership project branded as "Marine Legends", valued at about UAE 6 billion Dirham - over USD 1.6 billion - and situated at the Waterfront ...

National Bank of Umm Al Quwain (NBQ) & Global Investment House Announced Dh2.36 Billions Bond

NBQ issues convertible bond worth Dh2.36b
GulfNews - Dubai,United Arab Emirates
Dubai: The National Bank of Umm Al Quwain (NBQ) and Global Investment House yesterday announced a primary agreement to issue a Dh2.36 billion convertible debt instrument. ...Upon successful conversion, the new issue would imply 25 per cent expansion of the existing paid in share capital, giving Global a 20 per cent stake in NBQ... The bank has an aggressive business plan to reinforce its presence in the UAE. The Government of Umm Al Quwain is the bank's major shareholder since inception, apart from major UAE major investors. ...

World's Largest Smelter in UAE - $5.8 Billion Global Power House

$5.8bn smelter will make UAE global powerhouse
ArabianBusiness.com - Dubai,Umm al Qaiwain,United Arab Emirates
by Tom Arnold on Wednesday, 27 August 2008 HOT STUFF: The development of the world's biggest aluminium smelter in the UAE will signal the country's arrival as one of the global powerhouses for production, the chief executive of the project said on Wednesday. ...The proposed aluminium smelter in the UAE will help move the country away from dependency on oil gas export ...