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. ...