Two major Dubai waterside projects are exciting the UAE construction market. MEED reported today that Shaikh Mohammed Bin Rashid al-Maktoum had approved the $544m Dubai Creek waterside project which will be developed by Meraas. Companies in Dubai are also preparing…
Trump returns to Dubai real estate market
US developer Donald Trump today launched the 42 million square foot golf community that he is developing in Dubai in collaboration with Damac Properties. The Akoya by Damac includes the Trump International Golf Course, Dubai and 104 Trump Estate villas. The…
DLA Piper says arbitration centre a major step for Saudi Arabia
Saudi Arabia’s first arbitration centre will be a potentially significant development for commercial parties doing business in one of the region’s most important markets, DLA Piper said in a report issued today. Saudi Center for Commercial Arbitration is to be…
Abu Dhabi room rates to rise despite new hotels: The National
Average hotel room rates will rise despite the opening of new hotels in the UAE capital, Millennium & Copthorne Hotels Middle East & Africa CEO Ali Alzaabi is reported as saying this morning by the Abu Dhabi daily The National.…
NBK forecasts zero Saudi nominal growth in 2014
The National Bank of Kuwait (NBK) economic update report today foresees zero growth in Saudi Arabia’s nominal GDP in 2014 on lower oil prices and exports. Real GDP, however, is forecast to grow by more than 3 per cent in…
Gulf Investment House forecasts higher growth and lower surpluses in GCC in 2014
GCC growth will quicken but the region’s surpluses will decline in 2014, according to the GCC Economic Overview for 2014 published by the Gulf Investment House. Aggregate GCC GDP is forecast to grow by 4.1 per cent in 2014 compared to…