Deals worth $3.44bn inked on first two days of IDEX and NAVDEX 2023

Deals worth $3.44bn inked on first two days of IDEX and NAVDEX 2023

A total of 12 deals were signed with local and international companies on the second day of the exhibitions

Arada awards contracts worth $256m to build 986 homes at Sharjah’s Masaar

Arada awards contracts worth $256m to build 986 homes at Sharjah’s Masaar

A total of 1,416 homes are now under construction at Masaar

Saudi Stock Exchange CEO Sees Strong IPO Pipeline in Busy Year

Saudi stock exchange CEO sees strong IPO pipeline in busy year

The Middle East is having a banner year for IPOs on the back of high oil prices, investor inflows and strong demand for share sales

ADNOC Drilling

Abu Dhabi’s ADNOC Drilling acquires offshore jack-up rig for $70m

The company has bought a total of four premium offshore jack-up rigs this year

Saudi Exchange announces intent to launch single stock futures contracts in July

The new contracts mark the second derivatives product to be introduced in the exchange

Dubai sales transactions

Dubai records decade-high real estate sales transactions in May 2022

The emirate’s real estate market recorded a total of 6,652 sales transactions in May


Sharjah’s Arada awards contracts worth Dhs460m to build Masaar’s residential phase

Featuring 4,000 villas and townhouses, Masaar is divided into eight gated districts

Oil drops from seven-year high after Fed flags tighter policy

Oil has rallied in the opening weeks of 2022 on the continued recovery in energy consumption

Brent oil advances as investors weigh stockpiles, OPEC+ policy

Oil is set for a monthly gain in October, building on six quarterly advances

Brent oil rises above $85 as Saudi Arabia vows caution on supply

Oil has more than doubled over the past 12 months as the global economy rebounded from the dislocation caused by the coronavirus pandemic

Acciona to build, operate 3 sewage treatment plants in Saudi Arabia

These new contracts are worth a combined $1bn

Dubai’s Drake & Scull International bags contracts of over Dhs376m

DSI is also bidding for a Dhs260m project in Kuwait and for projects valued at Dhs1.49bn in Iraq

Dubai Land Department completes 1.4 million digital services in 2020

Registration and renewal of Ejari contracts topped the list of digital services last year

Saudi to only award government contracts to firms that have an HQ in the kingdom

The new decision, which does not apply to private sector firms, will take effect from January 1, 2024

Abu Dhabi’s ADNOC grants $324m worth of contracts to optimise onshore field operations

The contracts also include the construction of a new bypass system to backup existing crude receiving stations at the Jebel Dhanna and Fujairah export terminals

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