Abu Dhabi’s National Marine Dredging wins $272mln contract in Egypt
Abu Dhabi-based contractor National Marine Dredging Co. (NMDC) has won a contract worth AED 1 billion ($272 million) for dredging works in Egypt’s Suez Canal. The project is expected to be completed in 2023, the company said in a bourse filing on the Abu Dhabi Securities Exchange (ADX) on Monday. NMDC’s operations include ports and […]
Dubai: Long-term residents buying more and more properties thanks to Golden Visa
Residents living in Dubai for decades are buying more and more properties as new visa regime initiatives, such as the Golden Visa, has given them strong confidence to buy a property and make the emirate their base. In addition, the successful handling of the coronavirus pandemic by the emirate is also encouraging a large number […]
Dubai rents: Business Bay, Marina top list of popular areas to rent, buy property in the city
Business Bay and Dubai Marina continue to dominate the Dubai property market in 2022 as these areas remain the preferred choices of buyers and tenants alike throughout the year, says a latest report. Average price in these most sought-after areas has seen a significant upward trend this year due to the increase in demand and […]
Dubai’s TECOM expands property portfolio with new $120mln investment
Dubai-listed business park operator TECOM Group is expanding its commercial real estate portfolio with an investment of AED 442 million ($120 million). The company said on Monday it has just broken ground on the second phase of Innovation Hub, which features specialiised tech offices at Dubai Internet City, amid high demand for commercial space in […]
Star Paper Mill to set up $54mln recycled paper mill in Abu Dhabi
A new recycled paper mill will be established in Khalifa Economic Zones Abu Dhabi (KEZAD) in a move to support the UAE circular economy. The mill will manufacture eco-friendly biodegradable recycled kraft papers in Abu Dhabi after an agreement between Star Paper Mill and RC Paper Machines, which will expand its existing capacity with an […]
Dubai property deals hit $2.5bln in one week
Property transactions in Dubai reached more than AED 9.2 billion ($2.5 billion) in one week, the Dubai Land Department (DLD) said. The week ending December 16, 2022 recorded at least 2,882 deals that include plots and residential units across the emirate. A total of 199 plots were sold for AED1.33 billion, with Palm Jumeirah topping […]