Siemens Won $469 Million UAE Power Plant

Siemens To Build Abu Dhabi Power Plant
Zawya

Erlangen, Germany, March 30, SPA --German engineering giant Siemens has won a contract worth more than 350 million euros ($469 million) to build a power plant with an integrated seawater desalination facility in the United Arab Emirates, the company announced Monday. ...

GCC Power Demands $50 Billion 36% is UAE Share

$50b to be spent on power sector GulfNews - Dubai, United Arab Emirates Abu Dhabi: More than $50 billion (Dh183 billion) is expected to be invested in the power sector in the Gulf countries over the next seven years, according to research by the Middle East Economic Digest (MEED). The UAE will need the highest investment of $18 billion (Dh66 billion) among the GCC countries, it is forecast. ...

At Wetex 2009 Dewa signs 4 contracts for thirteen 132/11 kv substations for the total amount of dhs. 1534 million
Al-Bawaba - Amman, Jordan
H.E Saeed Al Tayer signed various contracts on Monday, 30th March'09; the contracts were signed for 13 substations in total for the construction of important projects for the total amount of Dhs. 1.534 billion. ...

APR Energy Cayman Receives $30 Million Investment From Dubai

APR Energy wins $30M Dubai investment
Bizjournals.com - Charlotte, NC, USA
A Jacksonville provider of major turnkey temporary power generation services received $30 million in investment from a Dubai-based private equity firm.

APR Energy Cayman Ltd. will use the minority investment from Levant Capital Ltd. to buy new equipment and support research and development, said Paul Marcroft, APR Energy's vice president of sales and marketing. ...

DEWA and ADWEA Launched New AED 500 Million HV Cable Project

UAE utilities launch Dh500m joint venture
The National - Abu Dhabi, United Arab Emirates
The Abu Dhabi Water and Electricity Authority (ADWEA) and Dubai Electricity and Water Authority (DEWA), yesterday launched a Dh500 million (US$136.1m) joint venture to make high-voltage cables for local use and export to GCC countries. ...

1100 Direct Job Opportunities by Emal

Emal plant to create 1100 jobs
Zawya - United Arab Emirates
Dubai: Emirates Aluminium (Emal), a joint venture between Abu Dhabi's Mubadala Development Company and Dubai Aluminium (Dubal), has plans to create 1,100 direct job opportunities over the next two years as the world's largest single-site aluminium smelter.

This year EmalEmal will more than double directly employed staff numbers from 620 to 1,370. ...

Hampton International Launches Property Evening

Agent brings country to the capital
Henley Standard - Henley, UK
HAMPTONS International, one of the UK's premier international residential agents, and a subsidiary of Emaar Properties, has announced the launch of an exclusive property evening, bringing some of the best country properties for sale directly to ready London buyers. ...

MOU Signed for the Tallest Tower in Seol-Korea and East Asia

Seoul to Have World's 2nd Tallest Skyscraper
Korea Times - South Korea
The world's second tallest building will be constructed in digital media city (DMC) in northwestern Seoul by 2015.

Seoul City said Monday a 690-meter-tall, 133-story multifunctional skyscraper will be constructed in Sangam-dong. Once built, it will be the second highest after the 800-meter-high Burj Dubai, which is under construction, by South Korean developer Samsung C&T. ...

Flowserve Opens Full Manufacturing and Service for Pumps at Jebel Ali Free Zone Dubai

Flowserve Opens Dubai Gulf Free Zone Quick Response Center
ChemicalOnline
Flowserve Corporation (NYSE: FLS), a leading provider of flow control products and services for the global infrastructure markets, today announced the grand opening of its state-of-the-art manufacturing, repair, refurbishment services and engineering applications support Quick Response Center (QRC) for pump and mechanical seal products. Located at the Jebel Ali Free Zone, Dubai, UAE, the ...

Kuwait Finance House Approved $6 Billion for Iskandar Development Project

Kuwait's KFH to go ahead with Malaysia project
Reuters - USA
Kuwait Finance House (KFIN.KW) (KFH) said on Saturday it had drawn up preliminary plans for investing in Malaysia's multi-billion dollar Iskandar development project. "KFH has approved the basic investment plan for the ... project (which) is expected to achieve a total development draw value that exceeds $6 billion during the coming 10-15 years," a company statement said, citing the Kuwaiti Islamic lender's international real estate development manager Ali al-Ghannam. ...

'The Royal Estates' 600 Million Project Awarded to Power Line Gulf Construction

Aristocrat Star Investments awards Dhs600m contract for The Royal Estates
AME Info

Aristocrat Star Investments, a multi diversified business group today announced it had awarded a Dhs600m contract for its signature project in Dubai, 'The Royal Estates' to Power Line Gulf Construction (PLGC). ...

Massive Gold Rush in Qatar

Qatar: High Gold Prices Spark Rush To Sell
Zawya

With gold prices touching historic highs during these times of uncertainties and recession, people are making a beeline to offload gold, especially jewellery.

Since people need permission from the police to sell gold in the pure form or in the form of jewellery, the Capital Security Department confirmed the section which issues such permits will be working in two shifts from Sunday to cope with the huge rush. ...

Saudi Revokes Contractors' Contracts for Delay

Saudi Arabia: 14 Contractors Penalized For Delays
Zawya

Taif - Transport Minister Jabara Al-Seraisry said yesterday that the ministry withdrew 14 road projects valued at SR80 million from contractors when they delayed work on the projects.

"The ministry handed over those projects to other contractors," he said. ...

Delhi Development Authority Advances Rs 100 Crore to Emaar-MGF

2010: DDA gives Rs 100 cr to Emaar
Expressindia.com - New Delhi, India
The prestigious Commonwealth Games Village project, struggling to touch the finishing line under its cash-strapped prime promoter Emaar-MGF, is finally looking at financial succour from the Delhi Development Authority (DDA).

In a meeting on March 13, sources said, Lieutenant Governor Tejendra Khanna directed DDA — the project's other stakeholder — to advance Rs 100 crore to Emaar so that work at the site could continue unabated. ...

1,300 Km Bicycle Tracks Planned Across the Emirates

Cycling Track along Metro Corridor on Zayed Road
Khaleej Times - Dubai, United Arab Emirates
DUBAI - The Dubai Metro corridor along Shaikh Zayed Road will be provided with a bicycle track aimed at encouraging the use of the healthy mode of transport, a senior Roads and Transport Authority (RTA) official told 
Khaleej Times on Wednesday.

Abdul Mohsin Ibrahim Younes, the CEO of Strategy and Corporate Governance at the RTA said that over 1,300km of bicycle tracks have been planned across the emirate. ...

Pakistan Offers UAE Investment Opportunity in Farming Projects

Pakistan to provide food security to UAE
GulfNews - Dubai, United Arab Emirates

Dubai: Pakistan has offered UAE investors an opportunity to invest in corporate farming projects back home as a means to secure the UAE's food supplies.

"The UAE is looking towards Pakistan for food security and we have offered projects of corporate farming to investors from the UAE," Dr Mirza Ishtiaq Baig, Advisor to the Pakistani Prime Minister, said. ...

Lending will Jump-start the UAE Real Estate and Economy

Unfreezing the credit market will take time
GulfNews - Dubai, United Arab Emirates
When will our banks start behaving like banks and resume lending that will jump-start the real estate sector and the economy as a whole?

Perhaps not any time soon, and definitely not in the same aggressive way seen during the past few years of economic boom, experts say. ...

Abu Dhabi Considers $10 Billion

Abu Dhabi Registers to Sell $10 Billion of Bonds
Bloomberg - USA
Abu Dhabi, the oil-rich emirate with the world's largest sovereign wealth fund, has registered to borrow as much as $10 billion from international investors.

The bonds would raise Abu Dhabi's debt tenfold to 10 percent of forecast gross domestic product, according to Fitch Ratings, which assigned a ranking of AA, the third-highest investment-grade category. ...

Abu Dhabi to Have 3000 Hotel Rooms for Formula 1

Abu Dhabi to add 3000 more rooms to landscape
e-Travel Blackboard (press release) - Sydney, NSW, Australia
The Abu Dhabi Tourism Authority (ADTA) announced earlier this week that Abu Dhabi would have over three thousand more rooms for accommodation by the end of this year.

The rooms will come in time for the Etihad 2009 Formula 1 Grand Prix to be held in November. ...

DP World Sees no Recovery Signs

No signs of recovery, says DP World CEO
Kipp Report - Dubai, United Arab Emirates
The CEO of cargo handler DP World announced on Wednesday it sees no sign that the shopping slowdown, which has already caused significant drops in business, will stop anytime soon, reports the AP. ...

Lockton Cos. Inc. Opens New Office in Dubai

Lockton Cos. will open Dubai office
Bizjournals.com - Charlotte, NC, USA
Lockton Cos. Inc. will open a new office in Dubai on May 1 to serve as the company's regional hub for the Middle East and North Africa., In a Thursday release, the Kansas City-based company said the Dubai office will be equipped to handle all classes of business, backed by the support of the firm's wholesale operations in London and elsewhere.

Leading US, UK and UAE Companies to Invest Heavily in Iraq Property

Massive foreign investment in Iraq real estate set to continue
Property Wire - St. Albans, England, UK

United Arab Emirate, US and UK companies are leading the way in terms of property investment in Iraq which is regarded as having good long term opportunities. ...

 

Laing O’Rourke Flat Growth in the Middle East for 2009

UK construction giant sees no Mideast growth in 2009
Arabian Business.com
Laing O'Rourke, the UK's biggest privately owned construction company, expects its growth to be flat in the Middle East in 2009 as new contracts dry up, company chairman Ray O'Rourke has said.

The region had been a strong area of growth in recent years, with the value of orders in the region swelling to $615m in 2008, accounting for a tenth of total company revenues, O'Rourke said. ...

Al Wifaq Finance Company Approved 5% Cash Dividend

Al Wifaq Finance shareholders approve a cash dividend of 5%
WAM - Emirates News Agency - Abu Dhabi, United Arab Emirates
WAM Abu Dhabi, 26th March 2009 (WAM) -- The Board of Directors of Al Wifaq Finance Company approved today a cash dividend of 5% and a stock dividend of 5% which would lead to the paid- in capital increasing to AED 561.75 million. ...

Dubai Property Rent Soften

Rent fall in Dubai: Welcome change
XPRESS - Dubai,Dubai, United Arab Emirates
Property rents in Dubai continue to soften as distressed owners try to cut losses and hedge against uncertainty, property brokers say.

From August last year, a one-bedroom apartment in the highly urbanised and sought-after areas of Bur Dubai and Karama have dropped by 40 per cent (from Dh100,000 to Dh60,000 this March), according to an XPRESS study comparing the advertisements during the two periods. ...

Etisalat Plans $1 Billion Investment into Indian Market

Etisalat Plans $1 Billion Investments In India
Zawya

ABU DHABI - The Emirates Telecommunication Corporation, or Etisalat, plans to invest $1 billion in the burgeoning Indian market where it has a minority stake in Swan Telecom.

The telecom operator's commercial launch in India is planned for 2009, Etisalat Chairman, Mohammed Hasan Omran told Khaleej Times, after chairing the company's annual general meeting on Monday evening. ...

Construction Starts for Oil Pipeline Linking Iran-Armenia

Iran-Armenia Oil Pipeline Construction Begins
Zawya

Moscow - Armenian Minister of Energy and Natural Resources Armen Movsisyan said Iran-Armenia oil pipeline construction work has begun According to the report of Armenian news agency "Arminfo", Movsisyan in a press conference in Yerevan, capital of Armenia, on Tuesday declared beginning of construction work of the pipeline and said the pipeline will transfer oil products such as gasoline and gas from Tabriz refinery to Armenia. ...

Oil Prices 75 Dollars a Barrel

UAE: President says 75 dollars a "fair" oil price
AKI - Adnkronos International - Roma, Lazio, Italy
Abu Dhabi, 25 March (AKI) - The president of the United Arab Emirates Sheikh Khalifa bin Zayed al-Nahyan said on Wednesday that 70 to 75 dollars for a barrel of oil was a "fair" price. "The prices are low and as such they affect all. A fair price per barrel from our point of view is 70 to 75 (dollars)," said al-Nahyan quoted by state news agency WAM. ...

Cirrus Developments Offers Shares to Investors

Cirrus offers investors equity in Aquarius Gate
The National - Abu Dhabi, United Arab Emirates
A Dubai property company, Cirrus Developments, has offered investors at one development the opportunity to help determine their fate by becoming shareholders in a new company to run the project. ...

DRI Corporation Received Major Order from Dubai

DRI Corporation Announces Receipt of Major Order for Mobitec® Products for Dubai's Transit Bus Fleet
Business Wire (press release) - San Francisco, CA, USA
DRI Corporation (DRI) (NASDAQ: TBUS), a digital communications technology leader in the domestic and international surface transportation and transit security markets, announced today that the Company's Mobitec Group subsidiary in Sweden has received an order, initial releases, and a letter of commitment, the total value of which may exceed $8 million USD, from a bus vehicle manufacturer on behalf of the Roads and Transport Authority's Public Transport Agency (RTA) transit bus vehicle fleet in Dubai, United Arab Emirates. ...

Forign Investments in UAE Continues

UAE to continue attracting foreign investments: official
Zawya - United Arab Emirates
The UAE will continue to be the most attractive in the region in terms of attracting foreign investments, a senior official of the UAE Government said.

According to Mohammed Ahmad bin Abdul Aziz, Director-General of UAE's Ministry of Economy, foreign direct investment (FDI) in the UAE in 2007 totalled Dh75bn, including $4bn (Dh14.6bn) Arab investments, which saw an increase of 83 per cent from 2005. ...

Green Light for UAE $3 Billion Railway Project

UAE to seek rail project tender by 2015
Trade Arabia - Manama, Bahrain
The UAE government has given the green light to its ambitious $3 billion railway project, that will link all the seven emirates, and will start seeking tenders by 2015, said a news report. The emirates-wide rail network, which will link Al Ruwais in Abu Dhabi to Fujairah, will be built in two phases. ...

Official Website of UAE President

Manour bin Zayed launches official website of UAE President
WAM - Emirates News Agency - Abu Dhabi, United Arab Emirates
WAM Abu Dhabi, Minister for Presidential Affairs, H.H. Sheikh Mansour bin Zayed Al Nahyan Wednesday morning launched an official website of the UAE President, H.H. Sheikh Khalifa bin Zayed Al Nahyan on the worldwide web. ...

Click here for link to the official website of UAE President.

Law Firm Jones Day Opens Office in Dubai

Jones Day opens office in United Arab Emirates
Crain's Cleveland Business
Jones Day opened an office in Dubai, United Arab Emirates this week.

The office is the 32nd location of the big law firm, which has been doing work in that region for more than 20 years. The six lawyers there will focus on energy, finance, arbitration and merger-and-acquisition work. ...

Dubai Orders 260 Daimler Busses

Daimler gets order for 260 buses from Dubai
Detroit News
FRANKFURT -- German car and commercial vehicle maker Daimler AG says its EvoBus division received an order for 260 Mercedes-Benz Citaro city buses from the Emirate of Dubai, but didn't release financial details. ...

Predictions for Abu Dhabi Commercial Property

Abu Dhabi commercial property market predictions
AME Info - United Arab Emirates
Over the past six or seven years the Abu Dhabi commercial property market has grown considerably, but nowhere near the rate of Dubai. As of today, the total amount of existing commercial stock in Dubai is in the order of 4.1 million square metres, whereas Abu Dhabi amounts to less than half of this, at approximately 1.85 million square metres. ...

Tameer Recontracting Construction Projects in Abu Dhabi

Tameer 'reviews' construction contract
The National - Abu Dhabi, United Arab Emirates
ABU DHABI // Tameer Holding, a Dubai-based property developer, said today it was "reviewing" its construction contracts for the US$1.6bn (Dh5.9bn) Tameer Towers on Reem Island. ...

Bahrain Best Centre for Business 2009 Report

Bahrain Ranked 'Best For Business'
Zawya

Manama: Bahrain has been ranked the best country for business in the Gulf by Forbes, one of the most trusted information resources for the world's business leaders.

Bahrain is ranked No. 1 in the GCC and 33^rd of 127 economies in Forbes' Best Centres for Business 2009 report ...

Sharjah Commerce and Tourism Development Authority to Ukraine Exhibition 25-27 March 2009

Sharjah announces participation in Ukraine International Travel and Tourism Exhibition 2009
AME Info (press release) - United Arab Emirates
Sharjah Commerce and Tourism Development Authority (SCTDA) is gearing up for its next public appearance, this time at the Ukraine International Travel & Tourism Exhibition (UITT) 2009, which will take place at the International Exhibition Centre, Kiev, from 25-27 March 2009. ...

Dubai Islamic Bank to Raise AED 3 Billion

Dubai Islamic Bank prepares $817 mln capital hike
Reuters - USA

DUBAI, March 24 (Reuters) - Dubai Islamic Bank DISB.DU is considering raising 3 billion dirhams ($817 million) in fresh capital and converting emergency government deposits into regulatory capital as Gulf banks brace for an economic slowdown. ...

Dredging Company Van Oord Cuts Operation in Dubai

Van Oord cuts back Dubai operations
GulfNews - Dubai, United Arab Emirates
Dubai: Dredging company, Van Oord has had to relocate the majority of its Dubai-based employees to projects in other parts of the world due to the severe delays and cancellations of Dubai's water development projects. ...

MGM Mirage Sued Over CityCenter

Dubai partner sues MGM Mirage over CityCenter
INO News
The Dubai developer helping build the $8.6 billion CityCenter complex on the Las Vegas Strip said Monday it is suing struggling partner MGM Mirage amid concerns about the project's viability. ...

Dewa to Invest Dh13 Billion in New Dubai Projects 2009

Dubai's Dewa To Spend Dh13 Billion In 2009
Zawya

Dubai: The Dubai Electricity and Water Authority (Dewa) plans to invest Dh13 billion this year in new projects as part of its Dh75-billion spending plan to build capacity to match the emirate's future economic growth.

This year's spending comes despite Dewa delaying a mega power generation and water desalination plant in Jebel Ali for a year amid slower consumption growth.…

Railway from Ruwais to Abu Dhabi to Fujairah Approved

Federal railway system to link all emirates approved
Zawya

Abu Dhabi: The trans-emirates rail network will not only ease traffic congestion, but also reduce the cost of road maintenance and other projects.

The network, which would see a double track rail service built from Ruwais in Abu Dhabi to Fujairah, was approved by the Ministerial Council for Services, WAM said on Sunday. ...

Abu Dhabi Investment Buys Daimler Shares

Abu Dhabi Firm Buys 9.1% of Daimler
Wall Street Journal - USA
Daimler AG, the owner of Mercedes-Benz, will cede a 9.1% stake to an Abu Dhabi investment firm in a move that shores up its balance sheet and tamps down fear that activist shareholders could push for a strategic shift. ...

Tameer Projects on RERA's Project Progress Indicators

Tameer projects published on RERA website
AME Info - United Arab Emirates
... Seven Tameer projects have been posted under the 'Project Progress Indicators', along with a number of other projects, underscoring the keenness of developers to continue construction progress, and their commitment to delivering projects to investors and buyers, in line with RERA's plan to support the transparency and credibility of property companies in the emirate's real estate market. ...

US Franklin Templeton Increases its Duabi Investments to 40%

Franklin Templeton increases Dubai Algebra stake
Reuters - USA
DUBAI, March 23 (Reuters) - Franklin Templeton Investments, which manages about $377 billion in assets, increased its stake in Dubai's Algebra Capital to 40 percent on Monday and said it wanted to grow its business in the Middle East and North Africa. ...

Approval for AED 5 Billion Khalifa City - Abu Dhabi

Dh5bn plan for Khalifa City A approved
The National - Abu Dhabi, United Arab Emirates
ABU DHABI // A Dh5 billion project to expand and redevelop Khalifa City A was approved yesterday by the Urban Planning Council, allowing construction to begin.
The district will grow from its current 7,000 residents to some 53,000 by 2030, with more than 4,500 new villas and around 100 apartment blocks. The plans also include 30 schools and 30 public parks, as well as shops, hotels and a medical compound. ...

Samsung's Mini Notebooks a Huge Success in UAE

great success for samsung in UAE Mini Notebook Market
Al-Bawaba - Amman, Jordan
Samsung Electronics Co., Ltd., a global leader in consumer electronics and world leader in IT technology, announced that its mini notebooks launched last December are experiencing huge success in the UAE. Samsung entered the market with the NC10, a mini notebook designed to go almost anywhere, with a weight of only 1.3kgs the NC10 increases possibilities whether at home, traveling or wherever internet access is available. ...

Environmental Specialists at Urban Coastal Development Summit Abu Dhabi 22-25 March 2009

Mott MacDonald's top environmental specialists to speak in Abu Dhabi
Business Intelligence Middle East (press release) - United Arab Emirates
UAE. Mott MacDonald's Group Sustainability Champion and Environmental Practice leader, Dr Paul Ashley will be a keynote speaker on the opening day of the Urban Coastal Development Summit in Abu Dhabi, 22-25 March 2009. ...

Water Shortage in Abu Dhabi

Abu Dhabi faces water crisis
The National - Abu Dhabi, United Arab Emirates
Abu Dhabi will face a serious shortage of water if nothing is done to use it more efficiently, the Government said yesterday.
A strategic water plan for the emirate stressed that groundwater supplies are so over-tapped they would not be able to sustain current levels of use for more than 50 years. ...

Gitex Saudi Arabia 2009 Set in Riyadh on April 19-23

Gitex Saudi Arabia set for April
AME Info
Gitex Saudi Arabia 2009 is set to launch in Riyadh on April 19-23, according to Dubai World Trade Centre which is co-organizing the event with Riyadh Exhibitions Company Limited. The exhibition is set to attract more than 400 firms from 15 countries. ...

Tannoy to Exhibit Aggressively at Dubai's Palme Middle East 26 - 28 April 2009

Tannoy returns to Palme Middle East 2009
AME Info
Pioneering UK loudspeaker manufacturer Tannoy will be exhibiting at the forthcoming Palme Middle East show in Dubai, with a bigger presence than ever before. ...

National Corporation for Tourism and Hotels Expecting Growth During Spring and Summer

NCT'&'H: Abu Dhabi's Tourism Sector Sets to Sees Steady Growth
WAM - Emirates News Agency - Abu Dhabi, United Arab Emirates
WAM Abu Dhabi, Mar. 22, 2009 (WAM) -- The National Corporation for Tourism and Hotels (NCT'&'H), a key provider of hotel, catering and transportation services, is expecting a vibrant business during the spring and summer thanks to the early online reservations and contracts it recently signed with a number of local, Gulf and European tour operators. ...

Qatar a Hot Topic for Turkish Media

Unimpeded by crisis, Qatar allures Turkish entrepreneurs
Sunday's Zaman - Istanbul, Turkey
... Qatar is now likely to be a hot topic for Turkish media organs from a new perspective: Despite the global economic crisis, Qatar continues to undertake big investments, with the ongoing projects in the country amounting to $140 billion. Among these projects -- all of which are financed by the Qatari state -- are the construction of a new airport for Doha, schools, colossal condominiums and natural gas pipeline projects. ...

World's First Carbon-neutral City in Abu Dhabi

Oil-rich, high-living gulf nation creating first carbon-neutral city
Atlanta Journal Constitution - GA, USA
Construction is under way on what is being called the world's first carbon-neutral city, rising from a featureless sandy expanse near the Abu Dhabi airport. Green as the city is intended to be, some environmentalists have criticized the project for deflecting attention from ongoing unsustainable development in a region with few natural resources aside from oil. ...

DEWA to Sign Major Project Contracts During WETEX 2009 (29-31 March 2009)

DEWA announces its new logo on first day of WETEX 2009
AME Info - United Arab Emirates
Dubai Electricity and Water Authority (DEWA) announced its intention to sign a number of contracts for major projects in different fields during the activities of the Water Technologies, Energy and Environment Exhibition 2009 (WETEX 2009) in its 11th edition, which will be held during the period 29-31 March, 2009, at the Zabeel Hall, World Trade Centre, Dubai. ...

UAE Prime Minister Official Website Launched

Official website of UAE Prime Minister launched
TMCnet - USA
ABU DHABI, Mar 20, 2009 (Asia Pulse Data Source via COMTEX) -- Congruent with the concerted devotion of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, to opening all communication channels with everyone, the official website of the prime minister of the UAE has been developed. ...

 

Link to >> UAE Prime Minister Official website

Waterpark Project in Bahrain

Bahrain's Wahooo Waterpark To Open In Summer 09
Zawya

Riyadh, March 21, 2009: From the team that brought the wonder of snow to Dubai, comes their latest enterprise, Wahooo!, a waterpark adventure in Bahrain.

The makers of Ski Dubai, the world-famous indoor snow resort in the desert, will open their latest attraction, a 15,000 square metre indoor 'aqua-park' in the heart of Bahrain's capital this summer. ...

New Multi-million Dollar Resort Project in Saudi Arabia

Tameer committed to launching Saudi beach resort project
CIBAF Bahrain

New multi-million dollar resort project in Saudi Arabia.

The Dannat Resort at Half Moon Bay on Saudi Arabia's east coast will cost around US $667 million (SAR 2.5 billion), said executive director of business development Mohammed Abdul Khaliq.

The project was "softly announced" at the beginning of 2008 and is still on the drawing board said Khaliq. ...

 

Zain's Revolutionary Telecom Store at A-Seef Bahrain

Zain unveils revolutionary telecom store in Bahrain
AME Info (press release) - United Arab Emirates
Zain, the leading telecom provider across the Middle East and Africa, announces the opening of its flagship store in Bahrain.

Interactive, informative and entertaining, and utilizing the latest in digital technology, the 350 square-meter, state-of-the-art outlet will change the way we shop for telecom products and services.

The store will be eventually linked to a network of similar outlets across Zain's Middle East and Africa operations. ...

Dubai Construction to Pull Forward Despite Financial Crisis

Dubai construction sector 'fundamental' to emirate's future
Arabian Business.com
The emirate of Dubai remained in a good position to move forward through the global financial crisis, thanks largely to its construction and real estate industries, experts were reported as saying on Saturday. A number of fundamentals were in place that would pull the emirate through the worst of the ensuing credit crunch, experts from the property sector told Construction. ...

Dubai's Deyaar Slashes Property Prices and Refunds Investors

Dubai developer slashes prices by up to 30% and offers refunds
Property Wire - St. Albans, England, UK
Cash flow problems have led to a major Dubai developer slashing property prices by up to 30% and introducing refunds and easier payment plans for real estate investors. ...

Dubai Pearl's New Buildings' Solutions in China 2009 Summit

Dubai Pearl's innovative features highlighted at New Buildings' Solutions Summit in China
AME Info
Pearl Dubai FZ LLC, a leading real estate developer in the UAE, announced it highlighted the latest innovations and premium components of its Dhs15bn development at the New Buildings' Solutions Summit China 2009, a unique event that brought together global industry professionals. ...

Aldar Properties Asking Consultants for Retrospective Fee Cuts

Top Abu Dhabi developer demands 20% fee cuts
Building.co.uk - UK

Abu Dhabi's biggest developer, Aldar Properties, is asking consultants for retrospective fee cuts, the latest sign that turmoil in the Middle Eastern markets has spread beyond Dubai. ...

Malaysian Company Bids for RM2 Billion Projects in UAE

Bina Puri bidding for RM2b Mideast projects
Business Times - Malaysia - Malaysia
DUBAI: Malaysian construction company, Bina Puri Holdings Bhd, is aggressively pursuing projects in the Middle East with the group bidding for about RM2 billion worth of potential projects in the United Arab Emirates (UAE). ...

Qatar Proceeds with US$100 Million Projects

Qatar proceeds with multibillion-dollar building projects
By Overseas Property Live
Gas-rich Qatar, the Gulf's fastest-growing economy, is spending more than US$100 billion in the next three years on projects including a new financial district and international airport. This comes as Dubai suffers a real-estate crash ...

Mace Secured Two New Projects in Bahrain and Dubai

UK construction firm wins Bahrain, Dubai contracts - Construction
Arabian Business.com
Mace Group, the consultancy and construction firm, has secured two project management appointments in Bahrain and Dubai, the firm announced on Thursday.

Under the first contract, the company will project manage a $93m, 41-storey headquarters building for Elaf Bank in the Seef area of Manama in Bahrain, Mace said in a release. ...

New Consultancies Promises Results in Dubai

New Dubai construction consultancy promises results
Construction Week Online - Dubai, United Arab Emirates

Despite the well-documented credit crunch, Connect Consult, a newly-launched Dubai-based construction consultancy, is promising "real solutions and real returns" to clients looking to safeguard their projects.

Given the lack of confidence in the current global market, projects that can provide a high level of contractor expertise in the earliest stages are more likely to save developers money later on. ...

Bawadi's Project Master Plan Approved

Dubai Municipality clears master plan for land use in Bawadi
Zawya - United Arab Emirates
Dubai Municipality (DM) has approved the master plan for land uses under the Bawadi project launched by Bawadi company, a member of Tatweer Dubai, and to facilitate all the planning and coordination of the project as it represents a part of the overall master plan of the project. ...

Damac Finalized Master Plans for Kurdistan and Egypt Project

Damac finalises master plan for Kurdistan project
Zawya - United Arab Emirates
Damac Properties is in the process of finalising the master plan for its Dh55 billion Tarin Hills project in Kurdistan and the Dh60bn Gamsha Bay project in Egypt, a senior executive said. ...

Property Prices at Al Raha Beach in Abu Dhabi

Nice price, if you can get it
The National - Abu Dhabi, United Arab Emirates
... A two-bedroom flat on the Palm Jumeirah in Dubai that sold for Dh3m (US$817,000) last year, for example, was listed yesterday for Dh1.8m. Some one-bedroom flats at Al Raha Beach in Abu Dhabi are now hovering just above the Dh1m mark, compared with about Dh2m in July. ...

Leo Sterling UAE Invites Dedicated Real Estate Sales Professional to Join

Leo Sterling increasing staff strength to bolster expansion plans
AME Info - United Arab Emirates
Leo Sterling, one of the leading real estate agents in the UAE, is inviting dedicated sales professionals to join its workforce. The company has been buoyant in the current economic condition, by offering a higher quality of products and services. ...

Multifold Growth for US Exports to UAE Market

UAE is biggest market in Mena for US exports
GulfNews - Dubai, United Arab Emirates
Dubai: US exports to the UAE have grown multifold since the beginning of the century and placed the country as the top list of America's importers in Middle East and North Africa (Mena) region, US ambassador to the UAE Richard Olson said Wednesday.
"In 2000, US exports to the UAE amounted to $2.2 billion [Dh8.1 billion]. In 2008, they reached $15.7 billion," Olson said.

Three Good Reasons why Dubia won't Collapse

Three cheers for Dubai
guardian.co.uk - UK
Will Dubai collapse? Of course not. And for three very good reasons:
First, the very fact that almost all of the emirate's labour is foreign is a boon. Simply put, there will be no long lines at the unemployment office. There will be no public or parliamentary debate over how to help those who are now out of work. ...

Aramco Spends $60 Billion on Projects Saves $10 Billion

Aramco earmarks $60 bln for oil and gas projects
guardian.co.uk - UK
RIYADH, March 18 (Reuters) - State oil firm Saudi Aramco will keep spending on oil and gas projects within the kingdom through 2014 at about $60 billion, a newspaper reported on Wednesday, quoting a contractor in business with the company.

The top oil exporter's five-year plan would be $10 billion cheaper than the last plan coming to completion in June. ...

Kerzner International Hotel Occupancy Down but Profits Unchanged

Moroccan project to be profitable in first year
guardian.co.uk - UK
EL JADIDA, Morocco, March 18 (Reuters) - Bahamas-based Kerzner International has seen a drop in occupancy at its hotels but is still making profits despite the global economic crisis, the company's founder, Sol Kerzner, said.

The proportion of its hotel rooms filled has fallen to between 67 percent and 68 percent, from about 80 percent, but the company has not cut room rates, Kerzner said. ...

Terex and Scania New Office in UAE

Terex and Scania to expand UAE operations
Construction Week Online - Dubai, United Arab Emirates
Two firms with operations in Dubai are preparing to open new warehouses, despite the economic hardship in the emirate.

Terex, the multinational firm that owns the Genie brand of access platforms, is putting the finishing touches on a new office and parts centre in Dubai's Investment Park. ...

Best Time to Buy UAE Real Estate

Real deal: Best time to buy property
XPRESS - Dubai, Dubai,United Arab Emirates
With property prices dropping, buyers are slowly returning. According to Samir Lakhani, a Pakistani real estate executive, end-user purchases are trickling in as property prices in Dubai have dropped between 35 and 50 per cent in recent times.

"For end-users, this is the best time to invest in property … prices are close to the bottom, if they haven't hit the bottom yet," said Lakhani who bought a villa at Emirates Hills last February. ...

Aldar Properties Membership in Build Safe UAE

Aldar Properties becomes first developer in Abu Dhabi to sign up to Build Safe UAE
Zawya - United Arab Emirates
Abu Dhabi, 16th March 2009 (WAM) - Aldar Properties PJSC, Abu Dhabi's leading property development, management and investment company, is the first master developer of Abu Dhabi to formally become a full signatory member of Build Safe UAE. ...

International Investors to do businesses in Dubai

Dubai economic department to engage international investors
Property Wire - St. Albans, England, UK
The Dubai Department of Economic Development (DED) and the Foreign Investment Office (FIO) have recently signed a Memorandum of Understanding (MoU) with the Dubai Real Estate Corporation (DREC) to attract international investors to do businesses in Dubai. ...

Damac's New AED 2 Billion Deal for 10-Towers

Damac to sign Dh2b deals for 10-tower development
GulfNews - Dubai, United Arab Emirates
Dubai: Damac Properties, the largest private sector developer in the UAE, is expected to sign contracts worth Dh2 billion this year for the construction of 10 new towers as it benefits from the current low construction costs and overheads, a top official said. ...

SK Engineering Wins $805 Million Order from UAE

S. Korea's SK Engineering wins $805 mln UAE order
Reuters - USA
ABU DHABI, March 17 (Reuters) - South Korea's SK Engineering & Construction Co, an unlisted unit of SK Group, has won an $805 million deal to install gas compressor units at an oilfield in Abu Dhabi, the state news agency WAM said on Tuesday. ...

Dubai Construction to Continue Robustly in 2009

Construction industry in Dubai 'still way ahead'
GulfNews - Dubai, United Arab Emirates
Dubai: Construction activity is likely to continue just as robustly in 2009 as before, due to lower construction costs and the need to continue with ongoing projects, industry experts said.

While many have been quick to jump on Dubai's slowdown, Greg Christofides, executive director at Arabtec said it needs to be put in perspective. ...

ABB Wins Kuwait's $400M Substation

ABB Wins $400M Kuwait Power Order
Zawya

ZURICH, Mar 17, 2009 (AFP) - Swedish-Swiss engineering giant ABB on Tuesday said it had won an order worth 400 million dollars (308 million euros) from Kuwait's Ministry of Electricity and Water to build three new substations. ...

Dubai's Best Investment was Cirque Du Soleil

Cirque du Soleil Says Dubai Investors Will Hold Stake
Bloomberg - USA
Dubai's Istithmar World and Nakheel PJSC will keep their stake in Cirque du Soleil Inc., said Daniel Lamarre, chief executive officer of the circus, amid reports that the funds are considering asset sales.

"They are going through a difficult period, that's no secret," Lamarre told reporters today after a speech to the Montreal Board of Trade. "But investing in the Cirque is the best investment they ever made." ...

First Phase of Saudi Industrial Valley Handed Over

Emaar EC hands over phase 1 land
Zawya - United Arab Emirates
Tadawul-listed Emaar, The Economic City (Emaar, EC) yesterday announced the handover of 1.5 million square metres of industrial land to investors within the first phase of Industrial Valley, one of the components within the King Abdullah Economic City project, a company executive said. ...

Details of Deyaar's Business Startegy 2009

Deyaar rolls out 2009 business strategy
ArabianBusiness.com (press release) - Dubai, Umm al Qaiwain, United Arab Emirates
Deyaar Development PJSC, one of the region's fastest growing real estate companies, today presented further details of its 2009 business strategy, including specific projects to be considered for consolidation and total area of units to be delivered over the next three years. ...

Deyaar's Drastic Measures to Survive Property Downturn

Deyaar takes strong action to survive property downturn
Arabian Business.com
Dubai-based developer Deyaar has unveiled a string of drastic measures to help the company ride out the property downturn in the emirate. Measures announced by the firm include slashing the price of units by up to 30 percent, softening payment plans for cash-strapped investors and giving 100 percent refunds on some postponed projects such as Deyaar Enclave. ...

Qatar's Pearl a $14 Billion Luxury Residential Project

Qatar Thrives on Natural Gas as Companies, Workers Flee Dubai
Bloomberg - USA
March 17 (Bloomberg) -- As Dubai scales back plans to build a waterfront development twice the size of Hong Kong Island, 30,000 workers off the coast of Doha in Qatar are constructing a $14 billion luxury residential project called the Pearl. ...

Abu Dhabi Tourism Authority (ADTA) Launches Tourism Education Strategy

Abu Dhabi Eyes Educational Tourism
Zawya 

Abu Dhabi: Abu Dhabi Tourism Authority (ADTA), the apex body which manages the tourism industry in Abu Dhabi, is launching a pioneering industry development initiative which will see the emirate roll out a fully-fledged education tourism strategy.

The ADTA's educational tourism strategy will take a three-pronged approach covering overseas school trips (OST), enrichment or personal development programmes (EPP) and corporate training (CT). ...

Lebanon Aims at Two Million Tourists in 2009

Lebanon Hopes To Woo 2 Million Tourists In 2009
Zawya 

BEIRUT, Mar 16, 2009 (AFP) - Lebanon hopes to have wooed two million tourists by the end of 2009 after record arrivals in February, the director general of the tourism ministry told AFP on Monday. ... "It is a record compared to the past six years," when less than 70,000 visitors came in February -- considered a low season for tourists, said Nada Sardouk. ...

Dubai's Strategic Plan to Stabilise Economy and Jobs

Dubai's Strategic Plan Under Review
Zawya

Dubai: All economic aspects of Dubai's Strategic Plan 2015 are currently under review to help stabilise the economy and safeguard jobs, a senior government economist said on Monday.

"Everything has been put on the table, the stimulus package and policies, with one aim - to safeguard jobs. ...

Sahara City Project Expansion

Al Nahda Real Estate Reviews Dh6B Sahara City Project
Zawya

The new project will be built next to the Sahara Mall. According to Jean Pierre Nammour, Managing Director, Al Nahda Real Estate, the company is proceeding with the retail expansion in the eastern part but is still to decide on the other aspects of the city. ...

Abu Dhabi Emerging as a Global SuperYacht Hub

Abu Dhabi Crown Prince tours UAE's First SuperYacht Show
AME Info - United Arab Emirates
His Highness Sheikh Mohammed Bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, says the UAE capital is committed to demonstrating its capability as an emerging global SuperYacht hub. ...

Delhi Gears up for Commonwealth Games 2010

Hamptons International offers Commonwealth Games Village 2010
Webnewswire.com - New Delhi, India
Hamptons International has announced availability of Commonwealth Games Village 2010 by Emaar MGF. As Delhi gears up to organize the Commonwealth Games 2010, the city is witnessing an infrastructural makeover, including the development of world class sporting infrastructure, roads, flyovers, hotels, modern transportation facilities and a new Games Village. ...

A $15bn Refinery Project in Kuwait will be Scrapped

Kuwait to cancel new oil refinery project - Energy
Arbian Business
Kuwait's government will cancel a $15bn oil refinery project at its weekly meeting on Monday, the country's prime minister said in remarks published on Sunday.

"We will officially stop the project in the coming cabinet meeting," Sheikh Nasser al-Mohammad Al Sabah told al-Watan newspaper. ...

Perfect Job with Dubai Metro

Metro throws open job gates
The National - Abu Dhabi, United Arab Emirates
...Serco has set up a website, www.joindubaimetro.com solely for recruiting purposes and will attend this year's Careers UAE job fair at the end of the month.

"There are already a lot of consultancy firms looking for people all over the world, chiefly India and the Philippines," said Peyman Younes Parham, director of the Roads and Transport Authority's marketing and corporate communications department. ...

Drake and Scull First DFM Listing this Year

Drake and Scull lists on DFM
The National - Abu Dhabi, United Arab Emirates
Drake and Scull, one of the largest building contractors in the country, is due to list on the Dubai Financial Market today. It will be the first listing on the DFM this year.

Drake and Scull sold 55 per cent of its shares in July in its initial public offering (IPO), raising an overall Dh1.2 billion (US$326.7 million). ...

Drop in Global Business Forces Architecture to Cut Back

Redesigning for a recession
Crain's Chicago Business - Chicago, IL, USA

A year ago, the building boom was still going strong in China and the Middle East, and assignments for skyscrapers, glittering shopping malls and state-of-the-art museums there were keeping big Chicago architecture firms busy even as U.S. business sagged. ...

UAE has World's Most Successful Tourism Models

UAE capable of counterng impacts of global economic crisis
WAM - Emirates News Agency - Abu Dhabi, United Arab Emirates
WAM BERLIN, Mar. 14th, 2009: The UAE has one of the world's most successful models in the tourism sector, and Sharjah has been always committed to making a significant contribution to the UAE's growth in the tourism sector, said Sheik Sultan bin Ahmed Al Qassimi, Chairman of the Sharjah Commerce and Tourism Development Authority (SCTDA). ...

1000MW Coal Power Plant UAE and Korea

UAE, Korea to set up 1000MW power plant
Daily Times - Lahore, Pakistan
KARACHI: Sindh Chief Minister (CM) Qaim Ali Shah held a meeting with an eight-member delegation of UAE's Bin Din Group and Korea's Petroleum Development Corporation (PEDCO) on Saturday to discuss the working on development blocks of the Thar Coal Project and considered the details of the Letter of Intent. ...

Marfin Investment Group (MIG) to Acquire Olympic Airlines

Greek-UAE firm to buy Olympic
Gulf Daily News - Manama, Bahrain
ATHENS: Greek-Emirates buyout group Marfin Investment Group (MIG) will acquire all of troubled carrier Olympic Airlines after talks between the government and global handlers Swissport failed. ...

$3 Billion Deal Between Iran LNG Company and Chinese Consortium

Iran, China Firms Sign $3B LNG Deal
Zawya 

TEHRAN, Mar 14, 2009 (AFP) - Iran's state-owned gas company and a Chinese consortium Saturday signed a multi-billion dollar deal to produce liquefied natural gas in the Islamic republic's South Pars field, a report said.

The deal, worth 3.39 billion dollars, was signed by Iran LNG company with the Chinese consortium for an annual production of 10.5 million tonnes of LNG, the state broadcaster reported. ...

Dh100 Million Media Studies College

UAE: Dh100m media college planned
Zawya - United Arab Emirates
The Ras Al Khaimah Media City is in the final stages of planning a Dh100-million media studies college as part of its new two million sqft campus, said its chief executive.
The project is being executed in collaboration with an overseas partner, said Junaid Shaikh, CEO of RAK Media City, who preferred not to disclose the names of the parties involved "until an agreement is finally and officially reached".

Big Hotels to Open in UAE

35 big hotels to open in UAE by 2010
GulfNews - Dubai, United Arab Emirates
Dubai: More than half of the dozens of planned hotel openings in the Gulf over the next two years will be in the UAE, creating thousands of new hotel rooms that will put pressure on rates amid a global travel business decline.

The organisers of a hotel industry exhibition in Dubai said on Saturday the UAE accounts for $6.1 billion (Dh22.4 billion) out of $8.8 billion being invested in the Gulf in 61 hotel properties that are scheduled to open by the end of next year. ...

61 Hotels to Open in GCC Despite Global Crisis

61 hotels valued at $8.8 billion to open by 2010
Al-Bawaba - Amman, Jordan
Hotel Show survey reveals 61 new hotels in Arabian Gulf to be completed within 2 years at a combined cost of $8.8 billion.

A total of 61 hotel developments worth $8.8 billion are due for completion between now and the end of 2010 across the Arabian Gulf despite the global economic downturn, according to a new survey revealed today (14 March 2009). ...

GCC Power Interconnection Grid Agreement Signed

GCC Grid To Ensure Stable Power Supply
Zawya

The Deputy Premier and Minister of Energy and Industry, H E Abdullah bin Hamad Al Attiyah yesterday signed the General Agreement of GCC Power Interconnection Grid in the presence of GCC Interconnection Authority (GCCIA) Chairman, Engineer Yousuf Ahmed Janahi. ...

Cedar Island Lebanon

Storm Brews In Cedar Seas
Zawya

Knowing that Dubai's Palm islands have dominated real estate headlines for the last couple of years, developer Noor International Holding has directed its attention to Lebanon with its newly announced 3.3 million square meter "Cedar Island" development off the Lebanese coast.

New Doha International Airport (NDIA) Bid Due End of March

Bids due for US $60m NDIA contract end of March - Construction and Industry News
Arabian Business

Bids for the New Doha International Airport (NDIA) internal transport system's station box will be invited around the end of March, a consultant to the project said this morning.

The contract is valued at US $60 million (QAR220 million). US construction giant Bechtel is overseeing the development of NDIA.

Mott Macdonald is working on the detailed design for the station box project. Germany-based PTV AG is the project manager. ...

 

Three Large Master Plan Developments Approved for Abu Dhabi

Abu Dhabi property - Capital District Concept approved
Off Plan Property Exchange - Derby, England, UK
Three huge master plan developments designed to transform a UAE state into a world cultural hub have been given approval by real estate planners.

Officials in Abu Dhabi have rubber stamped the Capital District Concept Plan, Khalifa B Master Plan and the Shahama and Bahia Revitalisation Plan. ...

Three Pivotal Master Plans for Abu Dhabi Approved

Three Urban Planning Projects for Abu Dhabi Approved
Khaleej Times - Dubai, United Arab Emirates
Abu DHABI - Three pivotal master plans for the emirate of Abu Dhabi have been approved, Abu Dhabi Urban Planning Council (ADUPC) said. The plans, the Capital District Concept Plan, Khalifa B Master Plan and Shahama and Bahia Revitalisation Plan, will be unveiled at the 2009 edition of Cityscape Abu Dhabi. ...

Work on Abu Dhabi's 2nd Downtown to Start

'Second Downtown' Closer To Reality In Abu Dhabi
Zawya

ABU DHABI - Work on the capital's "second downtown" will start in a year's time, it was announced yesterday, following a stamp of approval by the Executive Council.

The Capital District will be built 7km inland from Abu Dhabi island and eventually be called home by some 370,000 people. It will also house all embassies and federal government institutions. ...

International Investment Bank (IIB) Targets 1/2 Billion Saudi Housing Project

IIB Eyes $500M Saudi Housing Project
Zawya

MANAMA: Saudi Arabia, with a shortage of 100 million housing units and a monthly demand of 150,000 and 200,000 units, is seen as the most promising realty sector market in the region, a top banker at International Investment Bank (IIB) said. IIB will participate in one of the major housing projects in Saudi Arabia this year and the expected total size of the project will be $500 million," said Aabed Al-Zeera, board member and Chief Executive of Bahrain-based IIB. ...

Petrofac International Gets $2.2 Billion Project in Algeria

Algeria: Petrofac Awarded $2.2B El Merk Project
Zawya

Petrofac, the international oil & gas facilities service provider, has been awarded a US$2.2 billion engineering, procurement and construction (EPC) contract for the El Merk central processing facility (CPF) in the Berkine Basin of Algeria, which is to be executed over the next 44 months, with first significant volumes from the project expected in 2012. ...

Extend Abu Dhabi: Dr. Hani Shammah CEO of Bloom Properties

Abu Dhabi's freehold areas 'must be extended'
AME Info - United Arab Emirates
Abuu Dhabi should think about extending the freehold areas in which expatriates can purchase properties in the city beyond the upcoming waterfront and island-living luxury developments, according to Dr Hani Shammah, CEO of developer Bloom Properties. ...

Dubai Government to Distribute $10 Billion to Help Local Companies During Financial Meltdown

Dubai negotiating with companies on $10 billion support package
Khaleej Times
DUBAI - The Dubai government is making final arrangements to distribute $10 billion to help local companies with cash-flow problems during the current financial meltdown.

The government is in the last phase of negotiations with these companies before allocating the funds, which are part of its widely publicized $20 billion stimulus package, said Nasser Bin Hassan Al-Shaikh, the Director General of the Dubai Department of Finance. ...

PETRO AVEC to be Financed by Emirates Capital of Dubai

Axial Vector Announces Emirates Capital of Dubai to Finance PETRO AVEC Joint Venture
Centre Daily Times
Axial Vector Energy Corporation ("AVEC") (Pink Sheets: AXVC ) (Frankfurt: BAE1 ) is pleased to announce that Emirates International Capital Advisory (EICA) has agreed to finance the recently announced Joint Venture between Petrosonics LLC and AVEC called PETRO AVEC. ...

Gulf Countries' Resource Can Turn Global Financial Crisis into Opportunity

'Gulf countries can turn crisis into opportunity'
Khaleej Times
DUBAI -The Gulf countries have the resource base to turn the current global financial crisis into an opportunity and the realisation of this potential will depend on the adoption of appropriate policies and strategies, according to several speakers attending the Wharton Global Alumni Forum (WGAF) here. ...

Abu Dhabi Tourism Authority (ADTA): Pedal to the Metal for Projects

Full speed ahead for Abu Dhabi tourism development
Hotelier Middle East - Dubai, United Arab Emirates
Abu Dhabi Tourism Authority (ADTA) has confirmed that all its previously announced tourism projects would be delivered according to plan this year. The announcement was made at ITB Berlin by ADTA Tourism Standards Division director Nasser Al Reyami, who asserted that the planned hotels, new event partnerships, increased flights and additional Eithad Airways routes would give the emirate a "competitive edge when many other destinations are feeling the impact of the current economic downturn". ...

Study: Evolution of Investments in Iraq between April 2003 and January 2009.

Foreign investment in Iraq, study by Dunia
AME Info - United Arab Emirates
During a two-month study of private foreign investment in Iraq, Dunia analyzed the evolution of investment by privately owned, foreign domiciled companies in Iraq between April 2003 and end-January 2009.

Dunia collected data from a combination of publically-available regional and industry-specific media and private sources on 98 projects totaling $63bn in announced capital commitments. ...

Dubai Real Estate Market to Emerge Stronger after Economic Crisis

Property market 'to emerge stronger' after crisis - experts
Arabian Business
Dubai's property market has taken a beating but could emerge from the economic crisis stronger and more transparent, leading legal and financial experts have predicted. They were taking part in the Cityscape Connect business breakfast ahead of Cityscape Dubai. ...

Horizon Terminals Ltd Invest $300 Millions in South Korea and Morocco

UAE's Horizon pumps $300m in South Korea, Morocco - Transportation
Arabian Business
Storage operator Horizon Terminals Ltd is investing nearly $300 million to expand its terminal in South Korea next month and to build a new facility in Morocco by early 2009, its chairman said on Wednesday.

The Horizon Terminals group, wholly owned by Emirates National Oil Co (ENOC), has already pumped $350 million into its Singapore facility - which will open its third phase on Thursday - and invested $400 million into its 1.2 million cubic metre terminal in Fujairah. ...

Abu Dhabi Hosts 2nd Asian Ice Hockey Championship 15-20 March 2009

UAE to host renowned event
GulfNews - Dubai, United Arab Emirates
Abu Dhabi: Abu Dhabi will play host to the second Asian Ice Hockey Championship on March 15 to 20, at Zayed Sports City's ice rink under the patronage of Shaikh Hazza Bin Zayed Al Nahyan, the President of the Abu Dhabi Sports Council (ADSC.) ...

Marriott to Expand Into Asia and UAE Despite Economic Downturn

Marriott looks to Asia, UAE for further growth
Reuters - USA

BERLIN, March 11 (Reuters) - Hotel operator Marriott International Inc (MAR.N) sees strong growth opportunities in Asia and the United Arab Emirates as it strives to expand further outside North America despite the economic downturn.

Marriott, which typically manages hotels instead of owning them, plans to open 130 hotels with overall 32,000 rooms in the next four years outside of North America, where it now manages 350 hotels. ...

Deyaar Development to Unveil Refund Plans on Projects.

Deyaar takes steps to reduce defaults
The National - Abu Dhabi, United Arab Emirates
DUBAI // Deyaar Development will unveil measures to help reduce the risk of property defaults, including full refunds on two of its projects.
The measures are part of a strategy to help the firm, Dubai's second largest property developer, survive the economic slowdown. ...

Midland Architects Exploring Middle East Opportunities

Midlands architects urged to explore opportunities in Middle East
The Birmingham Post - Birmingham, West Midlands, UK
As development projects in Midlands reduce, one architect tells Head of Business Alun Thorne that the sector should look at exporting their skills to make the most of opportunities in the Middle East.

Although the Middle East has felt some of the effects of the economic downturn, the momentum in United Arab Emirates (UAE) countries has been dented rather than derailed. ...

Jones Lang LaSalle Investor Sentiment Survey (ISS) - MENA

Cityscape and JLL Investor Sentiment Survey (ISS) - MENA

As an additional incentive to participate in JLLL Survey, Cityscape is offering the chance for two respondents to win either an access-all-areas pass to Cityscape Abu Dhabi (worth US$ 8,445) or a complimentary one-year subscription to Cityscape Intelligence Cityscape Intelligence (worth US$ 2,495). If you wish to receive the report or qualify for the prize draw, please ensure you provide your contact details at the end of the survey. If you have already completed the survey, we would like to thank you for your time.

The survey will close on 12 March 2009 at 18:00 UAE time. Your sentiment is extremely valuable; The survey has been designed to take no more than 10 minutes to complete and all responses will be treated in the strictest confidence.

If you wish to receive the report or qualify for the prize draw, please ensure you provide your contact details at the end of the survey.

Please note that the deadline for responses is March 12 so it would be grateful if you could send us your replies prior to this.

Link to Survey

Tameer to Launch Saudi Beach Resort Project

Exclusive: Tameer committed to launching Saudi beach resort project
Construction Week Online - Dubai, United Arab Emirates
Bahrain's Al Khaleej Development Company, also known as Tameer, is six months away from officially launching a new multi-million dollar resort project in Saudi Arabia.

The Dannat Resort at Half Moon Bay on Saudi Arabia's east coast will cost around US $667 million (SAR 2.5 billion), said executive director of business development Mohammed Abdul Khaliq. ...

Interserve Won £200 Million Facilities Management Contracts

Interserve secures £200m in new contracts
CN plus - London, UK
Interserve has been named preferred bidder to deliver a total facilities management contract for 10 years for Ealing Council worth £5 million a year.

Interserve has also won a contract on behalf of Leeds Partnerships NHS Foundation Trust through Equitix which, in a Private Finance Initiative project, owns and operates seven sites in Leeds providing a range of mental health services.. ...

Saudi Arabia Banned Promotion and Sale for Off Plan Real Estate Developments

New real estate rules in Saudi Arabia
Property Wire - St. Albans, England, UK

New rules in Saudi Arabia have banned the promotion and sale of real estate developments that are still at the planning stage.

All advertisements and promotional material in local and foreign media have been outlawed in a set of new rules covering the sale of residential, commercial, office and industrial property. ...

Ducab Cables for Al-Raha Beach Development Project

Ducab secures Al Raha deal
Zawya - United Arab Emirates
Ducab, the leading manufacturer of high quality power cables in the Middle East, said that they have signed a Strategic Manufacturer Agreement (SMA) to supply LV wires and power cables to Al Raha Beach Development Project. ...

Emaar Misr To Continue Projects

Emaar's Egyptian unit to spend $712 million on projects
Reuters Botswana - Botswana

DUBAI (Reuters) - Emaar Properties' Egyptian subsidiary, Emaar Misr for Development, will spend around 4 billion pounds from residential sales and reserves to develop three projects, the developer said.

"Emaar Misr for Development is currently developing Uptown Cairo, Marassi and Mivida, which will see significant construction progress this year," Emaar Properties' chief financial officer Amit Jain said in a statement on Dubai's bourse website on Tuesday....