The financing for the Jorf Lasfar plant is the largest in over a decade for an international project in Morocco.
The government-funded project will cover five million square metres and will be built in the Batnah region.
Nakheel made a Dhs2.02 billion ($550 million) profit last year, on revenue up 91 per cent to 7.8 billion.
The construction firm plans legal action against the Saudi unit of Britain’s Petrofac, Saudi Binladin Group and SK Engineering and Construction.
Tony Douglas, CEO of Abu Dhabi Ports Company, reports on delivering phase one of the capital’s most ambitious project to date.
The $66 million development is held up again by land issues.
The contract is to build the third phase of the Jabal Omar development in Mecca.
A 3,000-seat outdoor tennis stadium will be a focal point, featuring a roof that illuminates at night
A police report says a cigarette was to blame for causing the fire in Jumeriah Lakes Towers.
The contracts will develop an industrial city in the north of KSA as it looks to develop its mining industry.
The building’s owner issues statement of support for residents as blame circulates around building’s materials.
The country’s growing population and rising middle class is fueling residential and commercial construction, says Frost and Sullivan.
Lack of capital funding and collection of payments continue to plague the construction industry says UAE construction tycoon.
Construction labour costs in the Kingdom are 51 per cent higher than in Qatar, says new report.
The Saudi oil producer has awarded contracts to companies from across Europe and Asia – the project is said to be worth billions of dollars.
Senior spokespeople confirm that Qatar will meet its construction deadline for the World Cup.
His Highness Sheikh Mohammed bin Rashid Al Maktoum has given the green light on the $411 million Business Bay project.
The changes are in preparation for the UAE firm’s proposed IPO in 2013.
The Mohammed al-Mojil Group say its losses exceed three-quarters of its capital and its liabilities exceed its assets.
The UAE-based contracting services company shares deal to construct pipelines in southeast Iraq with Italy’s SICIM.
Orascom Construction Industries, Egypt’s biggest listed company, feels weight of new plants in Algeria and the US.
The increasing volume of activity in the build-up to the 2022 FIFA World Cup has pushed up costs in Qatar, says study.
The contracting company said that higher finance costs for acquisition and contracts provisioning led to the fall in profit.
The mosque, spread over 40,000 square feet, will be located in Downtown Dubai.
Rising administrative and contract costs lead the construction company to post a loss during the second quarter of the year.
The UAE accounts for the largest share of the region’s construction market, according to new research.
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