(MENAFN) Saraya Bandar Jissah, the company developing Muscat's newest integrated residential and leisure development, has announced Atkins- Oman as the manager of its infrastructure projects, according to Oman Observer. Atkins- Oman will be responsible for controlling the company's infrastructure works in the site The infrastructure construction contractor is expected to be announced during the current month as the tender package has been floated. Shaikh Hamood al Hosni, CEO of Saraya Bandar Jissah, said: "Atkins will provide a clear and steady view of the progress of the infrastructure works, a phase of construction on site that is vital to maintaining our construction schedule and also to the final quality of the development as a whole. We are pleased to be working with such experienced partners who bring with them specific project expertise as well as regional knowledge and experience."
(MENAFN) Carlyle Group, a US-based firm partially owned by Abu Dhabi's Mubadala Development Company, has finalized the sale of the Millennium Bridge House in London, Arabian Business reported. The Millennium Bridge House, which is a 200,000 square foot, seve-storey commercial building, was sold to Shiva Hotels Ltd. for USD143 million. Abu Dhabi-based Mubadala Development Company holds a 7.5 percent stake in Carlyle Group.
(MENAFN) Raytheon is nearing finalizing a bundle of orders worth USD4-5 billion from Middle East countries, Arabian Business reported. The company's chief executive said that he returned from a visit during which he went to Qatar, Oman, Kuwait and Saudi Arabia and that he talked with officials for missile defence orders among other deals. "We used to talk about months and now they are weeks (away) that we can touch them and see them," the company's chief executive said.
(MENAFN) The UAE and China are working out ways to expand cooperation in the fields of new energy resources, high-end technology and service trade, according to a top official of the China Council for the Promotion of International Trade (CCPIT) Guangzhou Committee, China Chamber of the Internal Commerce Guangzhou Chamber of Commerce, Khaleej Times reported. Bilateral trade between the UAE and China increased by almost 500 percent from USD3.12 billion in 2002 to USD18.3 billion in 2012. From January to June this year, the volume of bilateral cargo trade hit USD21.435 billion, growing 13.68 percent annually. China is the second-largest trade partner of UAE. In 2012, the value of trade between the UAE and China surpassed USD35 billion for the first time, while 60 percent of China's total trade passes through the UAE, before it is re-exported west to Africa and Europe. Potential buyers can expect a wide choice of offerings as floor space has grown to accommodate more than 1,000 exhibitors across a range of home products.
(MENAFN) The biggest private investor in Ethiopia Saudi billionaire Mohammed Al-Amoudi has announced his plan for building another two cement factories in Ethiopia as investment environment grew significantly, according to Saudi Gazette. Derba Group, an amalgam of three Ethiopian companies owned by Al-Amoudi, said it will invest USD3.4 billion in Ethiopia in 5 years. Al-Amoudi said: "Africa"s opportunity lies in involvement of private sector working with stable and responsible government like Ethiopia."
(MENAFN) Projects in Saudi Arabia reached more than USD1 trillion worth in 2013, ranking second among the GCC countries, the first in three years, according to Arab News. Despite the Kingdom's canceled projects, which reached USD196 billion, and delayed projects valued at USD167 billion, the Kingdom's projects grew significantly. The Kingdom plans to allocate other USD800 billion in the pipeline for future projects over the following 18 years.
(MENAFN) Share offering of DAMAC, Dubai-based luxury real estate developer, saw a decline as it only raised USD348 million from the sale of 28.39 million global depositary receipts (GDRs) compared to the expected USD500 million, according to Arab News. Though property market in Dubai saw a slight recovery this year of more than 20 percent, it declined over 50 percent from its highest in 2008. Akber R. Naqvi, executive director at Dubai-based asset manager Al Masah Capital, said: "It may have been too early to test the merit of the Dubai real estate market; even though the markets have recovered sharply, we are coming back from a steep decline and a very low base."