National Marine Dredging Company (The Group) has signed a MoU with the Dredging Corporation of India Limited (DCI), which is under the administrative control of the Ministry of Ports, Shipping and Waterways, to develop business opportunities. The MoU, was signed at a virtual event, by Eng. Yasser Zaghoul, Group CEO, NMDC and Captain. S.Divakar, Chief General, DCI. The agreement, for the two entities will embark upon projects of mutual benefit, and to share experience in their exclusive areas of specialisation on projects across India, Bangladesh, Gulf Cooperation Council Countries (GCC), Africa and other parts of the world. The collaboration will…
Author: Kasun Illankoon
In line with its direct responsibility to establish the values of transparency in real estate information, systems, data and procedures, Dubai Land Department (DLD) signed memoranda of understanding (MoU) with three companies specialised in providing smart and advanced real estate solutions: Bayut, DXBinteract.com, and Property Finder. The MoUs aim to provide Dubai’s real estate market with the best solutions that rely on data and interactive reports, which contributes to enhancing the digital transformation trends witnessed by Dubai’s real estate sector as well as supports DLD’s vision of positioning Dubai as the world’s premier real estate destination and a byword for…
Ajman Bank has signed a financing agreement with local developer Arada that will provide AED 152 million (USD 41.4mn) to finance the construction of two key projects within the fast-growing Aljada mixed-use community, Sharjah’s largest ever megaproject. The arrangement has resulted in the provision of AED 37 million in financing for a villa complex within the Aljada community, as well as a further AED 115 million in financing for the construction of the second and final phase of the SABIS® International School – Aljada (SIS-Aljada). Making the announcement, Mr. Mohamed Amiri, Chief Executive Officer, Ajman Bank, said, “We are glad…
One of the leading Dubai-based luxury residential developers, Iman Developers launched their latest project in Jumeirah Village Circle (JVC), bringing to Dubai’s supply-starved growing realty market 212 new apartments. Worth AED 130million, Oxford 212 is the fifth successful residential development of Iman Developers which has a portfolio of four completed projects and another three in development stages. “Oxford 212 will set a benchmark in modern family living space. The project is luxury redefined offering premium living, adding value to the residential realty inventory of Dubai which currently is passing through a huge demand-supply gap,” said Ismail Marfani, Director, Iman Developers.…
Nominations are now open for the CBNME MEP Awards 2022, the event is taking place on March 29th. The deadline to nominate for the awards is February 25th CBNME MEP Awards 2022 is one of the leading events applauding the achievements of the region’s construction professionals. The awards strive to recognise individual excellence, corporate strengths, and project success. Companies are invited to nominate the people, projects, and initiatives of which they are most proud of, across 18 categories. The awards presentation will happen at a gala dinner in a five-star venue – a celebration which has proven to be a…
The Red Sea Development Company (TRSDC), the developer behind the world’s most ambitious regenerative tourism project, announced today that it has achieved Financial Close on its SAR 14.120 billion (USD 3.76 billion) term loan facility and revolving credit facility with four leading Saudi banks. As announced previously, the banks are Banque Saudi Fransi, Riyad Bank, and Saudi British Bank, with Saudi National Bank acting as Mandated Lead Arrangers. “This year, we have proceeded at pace with the delivery of our flagship project, all the while mindful of our commitment to not only reduce our impact on the environment but actively…
BUTEC Group announces the signature of an agreement to acquire all the 17 companies of ENGIE Group in Africa operating in the fields of energy efficiency, maintenance, heating, ventilation and air conditioning, green mobility, multi-technical maintenance as well as facility management. These services are undertaken in more than fifteen countries by more than 1,500 employees and are carried out mainly by ENGIE Services Maroc in Northern Africa, ENGIE Services Côte d’Ivoire (Tieri), Afric Power and ENGIE Burkina Faso in Western Africa and ENGIE Ampair / Thermaire in Southern Africa. Ziad Younes, Chairman of the Board of Directors of BUTEC Group…
Home to British aristocracy since the 1700s, No.1 Grosvenor Square has been at the centre of fashion and status ever since the first stone was set by Sir Richard Grosvenor. Located at the heart of the Duke of Westminster’s Grosvenor Estate, No.1 Grosvenor Square has a unique history as a seat of global power having hosted both the US Embassy and the Canadian High Commission. No. 1 Grosvenor Square is now in private ownership for the first time since 1936. Award winning architectural practice Eric Parry Associates have overseen the preservation, redesign and recreation of the façade of No. 1…
Al Ghurair Investment, the leading diversified UAE family business, today announced the appointment of Tarek Nizameddin as Chief Executive Officer of AG Facilities, including its reputed soft services subsidiary, MBM. The facilities solution business forms a critical part of the company’s long-established construction sector. The appointment supports the company’s strategic intention to expand its facilities presence across the region by enhancing capabilities with innovative new products and technologies. Tarek Nizameddin joined in January 2022 and is responsible for providing strategic direction and leadership to drive transformation at AG Facilities. In his role, Tarek will focus on optimising new opportunities and…
It is evident that buyers from the GCC have long been key investors in these real estate markets who seek luxury in the world’s most coveted addresses. Time and again, elements of the bygone era have been a valuable part of our surroundings, deeply rooted in history, yet blended with the valour of modernism. In vibrant cities such as New York and London, many of those historic landmarks have been, and continue to be, transformed to cater towards a more luxurious, affluent society. And this creates a crossover, a sense of belonging within a larger story, where history meets…