New hotels: Dubai still leads with with 96 projects

Dubai — Dubai is leading the Middle East and Africa in new hotel developments with 96 total projects and 36,523 rooms in the pipeline, a report released on Wednesday said. A Tophotelprojects report said Dubai, which has been the Middle East and Africa’s leading city for hotel openings for the past three years, is now recording an all-time high activity to boost the room capacity from the current 65,000 to over 100,000 by 2020. According to JLL, a leading real estate investment and advisory firm, Dubai is set to see a massive increase of 28,000 new hotel rooms by 2018..... Read more »

Posted on : 6/25/2015

Oil price drop is a major challenge for the GCC's construction sector

Falling oil prices pose a major challenge to the growth of the construction sector in the GCC, a report by Alpen Capital has said. The dip in oil prices may push the GCC nations to restrict state spending, hampering the growth of the construction industry which is materially dependent on government funding, the report stated..... Read more »

Posted on : 6/25/2015

Dissolvable stent saves life of cardiac patient

Dubai: A 49-year-old heart attack patient was granted a new lease of life when a Dubai hospital put in three new generation bio-degradable scaffolds in a major artery of his heart that was 90 per cent blocked. The new Bioresorbable Vascular Scaffold system (BVS) is different from a conventional drug-coated stent as it dissolves completely without a trace within three years..... Read more »

Posted on : 6/23/2015

First Solar grabs 200MW in Dubai

<p>First Solar is to supply its photovoltaic modules for the 200MW second phase of the Mohammed bin Rashid Al Maktoum solar park in Dubai.</p>.... Read more »

Posted on : 6/23/2015

UAE will stay with long-term strategy to diversify economy

Dubai: The non-oil sector has experienced positive growth during the first quarter of 2015, wrote Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, in a note on the UAE economy..... Read more »

Posted on : 6/21/2015

Emirates Development Bank to fund Emirati housing

<p>Emirates Development Bank (EDB) launched operations to fund housing, industrial and business projects for citizens of the UAE, including housing finance for 30,000 Emiratis between 2015 and 2021, it was announced. </p>.... Read more »

Posted on : 6/18/2015

Mubadala Petroleum starts production in Thailand

<p>UAE firm Mubadala Petroleum has begun production at its Nong Yao oil field, located in the southern Gulf of Thailand.</p> <p>Production is expected to reach a peak rate of approximately 10,000 bopd as more production wells are completed.</p>.... Read more »

Posted on : 6/18/2015

Dewa set to award consultancy contract for latest solar park phase

<p>Dubai Electricity and Water Authority (Dewa) will next month award a contract for the consultancy stage of the latest phase of its 1,000-megawatt solar park.</p>.... Read more »

Posted on : 6/18/2015

Dubai adds more solar power to grid

<p>ABB has won a solar order worth $20 million (£12.6m) in Dubai.</p> <p>It will extend the substation at the Mohammed bin Rashid Al Maktoum solar park, which will integrate more solar energy into the grid.</p>.... Read more »

Posted on : 6/18/2015

Akfa lands $90m MEP deal on Saudi housing project

<p>Turkey's Akfa Contracting has been awarded a $90m contract to undertake MEP works on a mixed-use housing project in Jeddah, Saudi Arabia.</p>.... Read more »

Posted on : 6/17/2015