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Sheikh Mohamed bin Zayed Al Nahyan

Sheikh Mohamed orders six-month rent waiver for businesses on Al Hudariyat Island in Abu Dhabi

He instructed officials to open the entertainment and leisure project to the public within 30 days

Samana Developers’ projects worth Dhs185m sold out in Dubai

The two residential projects include 327 studios, one, two-bedroom apartments and six retail outlets

Dubai’s Damac Properties awards contract for Zada project

The contract worth Dhs181m was awarded to Trans Emirates Contracting to begin main work on Zada

Saudi’s Amaala awards design and build contract of Construction Village to Tamimi Global

The development of the village will employ off-site fabrication and modular construction techniques, in line with Amaala’s sustainability goals

Saudi launches Al Nawras development project in Jeddah

The project is part of Saudi Vision 2030

Saudi Arabia Riyadh

Saudi Arabia scraps VAT for property deals

However, a new tax of 5 per cent – the Real Estate Transaction Tax – will be levied on property deals in place of the VAT

Arabtec

Burj Khalifa builder Arabtec set to fall into liquidation

It was valued at about Dhs30bn at its peak in 2014 and is now worth Dhs795m

Dubai Museum of the Future

Video: Sheikh Mohammed visits Dubai’s Museum of the Future

The façade of the complex includes 1,024 panels built using robotic technology

Arabtec

Dubai’s Arabtec to file for liquidation – reports

It recorded an H1 2020 loss of Dhs794m

Consulting firm AECOM bags infrastructure design project for Saudi’s NEOM

AECOM will leverage its digital capabilities to deliver the services and enable collaboration across global teams

Saudi’s Marafiq gets $280m to build Jeddah sewage treatment plant

Marafiq’s shareholders include the Public Investment Fund, Saudi Arabian Oil Co. and Saudi Basic Industries Corp

ADNOC Jebel Dhanna Abu Dhabi

ADNOC awards $245m contracts to upgrade Jebel Dhanna terminal in Abu Dhabi

Over 50 per cent of the total award value will flow back into the UAE’s economy under ADNOC’s In-Country Value programme

Majid Al Futtaim Elan Tilal Al Ghaf

Phase III of Majid Al Futtaim’s Elan neighbourhood in Dubai sells out in 48 hours

Construction on the Elan neighbourhood began in July this year

Rizwan Sajan

Exclusive: Dubai’s Danube chairman on why the UAE will see a V-shaped recovery from the Covid crisis

The UAE is poised for a rapid rebound from the Covid-19 pandemic, mainly led by tourism, opines Danube Group’s Rizwan Sajan

Drake & Skull

Dubai-based contractor Drake & Scull appoints new CEO, CFO

Munir Mansour has been appointed as the new CEO, while Peter Lalor has now taken over as the CFO

Dubai Chamber headquarters extension slated to be ready by early 2021

As much as 76 per cent of the construction work has been completed on the building

Dubai

Dubai Land Department introduces AI into real estate valuation process

The valuation will be provided via DLD’s app called Dubai REST

Explainer: How can the construction sector ensure the new normal is green?

Sustainable policies and awareness will help build a better future, opines Ali Al Jassim, chairman of Emirates Green Building Council

Top Saudi Binladin executives leave amid $15bn debt revamp

The company is working with US investment bank Houlihan Lokey Inc. on reorganising its debt

Dubai Investments to deliver Al Barsha Tower by September 2020

The project stands 95 per cent complete

SAUDI-ECONOMY-TRANSPORT-METRO

Saudi to localise engineering jobs from 2021

The decision applies to all private sector establishments that employ five or more engineering professionals

Bahrain, Manama, Cityscape view of Bahrain World Trade Center and Bahrain Financial Harbor

Bahrain awards 769 tenders worth $1.7bn in H1 2020

The construction and engineering sector accounted for the biggest share of contracts in the first six months of the year

Saudi’s Amaala strengthens alliance with Dubai-based HASCO

The startup will offer excavation, backfilling, and earthworks for Triple Bay Marina

Dubai Parks

Dubai Municipality has built 70 new parks and playgrounds in the emirate this year

The total number of parks and playgrounds built by Dubai Municipality now stands at 185

RAK AMI Hotel marks construction progress of Mövenpick Resort Al Marjan Island

RAK AMI Hotel has now completed nearly 40 per cent of the total construction

Dubai’s Union Properties plans new project even amid oversupply

The Motor City Hills development will include 195 single-family homes, 490 townhouses and six commercial land plots

Arada launches new garden community at Aljada, Sharjah

Homes in Sarab 2 will be available for sale from August 10 onwards

Arada Aljada Sharjah

Arada awards Dhs423m construction contract for phase two of Aljada development in Sharjah

The East Village contract includes the construction of 16 apartment blocks with the project set to be completed by 2021

Abu Dhabi’s Jubail Island Investment Company awards Dhs86m contract to Gulf Contractors Company

The overall infrastructure works on Jubail Island amount to approximately Dhs600m

Dubai

Dubai’s real estate sector records transactions worth Dhs72.5bn in H1 2020

In H1 2020, 4,536 women investors completed 5,112 investments worth Dhs6.6bn