Dubai / WAM Master developer Nakheel has awarded four contracts, collectively valued at more than AED430 million, for Deira Islands’ new 15.3 square km waterfront city currently under construction in Dubai. The contracts, covering islands A and B of the four-island development, are for a sewage treatment plant, a district cooling plant, a substation and piling work for an 800-room ...

ABU DHABI / Reuters Dubai builder Arabtec said on Wednesday that it had swung to a net profit in the second quarter, boosted by profits from its investment in interior designer Depa as well as by cost-cutting. Arabtec made a net profit attributable to equity holders in the parent of 39.8 million dirhams in the three months to June 30, ...

CAIRO / WAM Egypt’s President Abdel-Fattah El-Sisi has agreed to the establishment of a joint development company between the General Authority for the Suez Canal Economic Zone and Dubai Ports to execute development projects in the Suez Canal area. He stressed that the Egyptian government will work on facilitating the completion of these projects as soon as possible.President El-Sisi met ...