Akram Rashid and Michael Kortbawi, BSA
Author: Paromita Dey
TAV and Arabtec will begin construction of Bahrains new $1.1bn airport terminal in October following completion of preparatory work. The prep work, which began in February and includes demolition of old airport buildings, is in its final stages, Transportation and Telecommunication Minister Kamal Ahmed told Gulf Daily News. Turkish airport construction specialist TAV Group is building the new terminal along with UAE-based contractor Arabtec. Benoy is designing the interiors as sub-consultant to project manager Hill International. The upgrade will boost the capacity of Bahrain International Airport from nine to 14 million passengers per year when it opens in 2019. The…
Industry veteran Carl Slotte steps up to replace Tomas Kuta.
Manazel Real Estate saw net profit fall by close to a third in the first half of the year despite slightly improved revenue. Earnings for the period came in at AED 31.2mn ($8.5mn), down by around 30 percent from AED 44.9mn booked during the first six months of 2015. But steady revenues of AED 267.4mn, against AED 262.8mn, were underpinned by the successful restructuring of the company, Manazel said in a statement. The launch of Al Reef 2 and the construction progress contributed to the increase in total sales during H1 2016. Manazels chairman Mohamed M. Al Qubaisi said: Over…
Masdar has passed the halfway mark in its project to construct a 16.6 MW solar power plant network in the Islamic Republic of Mauritania. Abu Dhabis future energy company broke ground on the project in December last year. When complete, the network of eight solar power plants will almost double the UAEs contribution to Mauritanias renewable energy capacity to a total of 31.6 MW. The plants will supply 30 percent of the electricity demand to the remote communities of Boutilimit, Aleg, Aioune, Akjoujt, Atar, El Chami, Boulenour and Bani Chab, reducing their dependency on diesel-fuelled generators, decreasing annual fuel costs…
Next phase of development will increase the area by 8 percent to 14,000 sq metres.
The recent United Nations COP21 climate change summit in Paris highlighted the need to cut greenhouse gasses, such as CO2, by as much as 80% in many countries by 2020. But the problem is not just constrained to developed countries writes Akin Adamson, Middle East Director, Transport Research Laboratory
Global water technology company, Xylem has signed a definitive agreement to acquire smart meter specialist Sensus for approximately $1.7bn in cash. Sensus, owned by investment funds affiliated with The Jordan Company and GS Capital Partners 2000, is a leading provider of smart meters, network technologies, and advanced data analytics services for the water, electric and gas industries. It has more than 80 million metering devices installed globally, and its distinctive FlexNet® communications network technology uses licensed spectrum in the U.S. and other geographies and provides secure connectivity solutions that support multiple applications. With Sensus, we will acquire a strategically valuable…
Al Nasr Contracting bags $13mn deal to extend network to the development.
Developer delivers under 500 units in the six months to June 30.