Volvo Trucks launches an addition to I-Shift range, I-Shift with crawler gears. The new gears, which are added to the automated transmission, will provide startability for trucks carrying heavy loads in demanding situations. The system is new for series-produced heavy trucks, and this version makes it possible to add up to two new crawler gears, making the truck can move off from standstill and transport a gross combination weight (GCW) of up to 325 tonnes. “I-Shift with crawler gears offers new scope for heavy trucks with automated transmission to regulate their speed when crawling slowly and reversing. The driver can…
Author: Paromita Dey
Kurdistan-based Qaiwan Group secured two loans worth $105m to refinance part of the firm’s investment in the 442MW Bazian Power Plant. With Deutsche Bank as the mandated lead arranger (MLA) and Dubai-based Bankmed as co-MLA and co-lender, the finance is being backed by the French government’s Export Credit Agency Coface. GE, too, has arranged a five-year, $30m commercial loan. Dubai-based CT&F Consulting DMCC acted as financial advisor to Qaiwan Group on the entire financing. Saad Hasan, CEO of Qaiwan Group, said: “This plant is a marquee infrastructure project that will go a long way in addressing the growing demand for…
European investors observe Dubai’s investment potential through Nakheel’s marquee at international real estate summit, MIPIM 2016, in Cannes held this week. The developer was the only exhibitor showcasing Dubai properties at the summit. Its attempt at the event was to raise awareness of Dubai and to highlight investment opportunities on offer at the growing residential, business and tourism hub. Nakheel chairperson Ali Rashid Lootah said: “Our marquee at MIPIM has been a hive of activity, with hundreds of visitors and back-to-back meetings with potential investors and partners looking to capitalise on Dubai’s excellent investment opportunities and become part of the…
To combat low oil prices, Qatar revealed it will be passing a law covering the use of public-private partnerships (PPPs) by the end of this year, Reuters reported. The Ministry of Economy and Commerce stated it would submit a draft PPP law to the cabinet by mid-2016, ministry official told the agency on 15 March 2016. “We hope to have the framework completed and start implementing the law by the end of the year.” He added that the new framework would will include a PPP programme to build between 10 and 12 public schools in the next two years. Regional…
The Alinma Jeddah Economic City Fund secured shari’a compliant financing of up to $959m from Alinma Bank on December 10 2015. The funding will be used to build and develop infrastructure for phase-one of Jeddah Economic City project and to continue the construction of Jeddah Tower which has now reached its thirty seventh floor, in addition to developing a number of primary real estate projects within the general Master Plan. The first phase of the project is expected to take five years. Developer on the project, Jeddah Economic Company, is the 100% owner of the Alinma Jeddah Economic City Fund’s units,…
Abu Dhabi Urban Planning Council (UPC) signed a Memorandum of Understanding with the Mohammed Bin Rashid Housing Establishment (MRHE) on 14 March 2016 to incorporate MRHE’s projects with Estidama Pearl Villa Rating System (PVRS). Initially, the PVRS will be implemented on the Al Warqaa fourth villa project, which will be the first Dubai Government-backed development to utilise Estidama. The project comprises 72 villas with a total gross floor area (GFA) of almost 20,000m2. Construction of the villas will commence in Q4 2016. UPC’s Estidama team will send experts to the MRHE to aid in developing MRHE’s technical knowledge on the…
Dubai-based Nshama has awarded Al Dharis SPF the contract for the design, construction and supply of liquefied petroleum gas (LPG) to Town Square’s residential units that are currently being constructed as per schedule. The design includes the construction of two underground tanks of 50,000 litre capacity, over 35 km of underground piping, and 24×7 staff on duty for operations and maintenance. The contract was signed by Fred Durie, CEO of Nshama, and Khamis Khalifa Al Muheiri, chairperson of Al Dharis SPF. The project work for Town Square will include the supply of cooking gas to over 18,000 apartments and more…
Abu Dhabi-based Aldar Properties received a master developer license from the Abu Dhabi Department of Municipal Affairs on 15 March 2016. The license comes under the provisions of the new real estate law which came into effect on 1 January 2016. Talal Al Dhiyebi, chief development officer at Aldar, said: “We believe it will bring a high degree of predictability and transparency to the market and thereby increase the attractiveness of the market to existing and a new generation of customers.” Aldar is the first developer licensed by the Department of Municipal Affairs under the new regulations. The new real…
IFP Qatar’s annual exhibition, Project Qatar (PQ), will provide traders with insights to further push and maintain the growth within the construction sector. Reports reveal that Qatar’s construction sector seems to be growing despite the oil slump. The sector, largely driven by Qatar National Vision 2030 and 2022 FIFA World Cup, will have infrastructure investments anticipated to reach $150bn over the next few years, according to First Qatar Real Estate Development Company. The Qatar Investment Fund has projected the country to witness a super-normal pace for the next five to seven years. The fund reveals infrastructure investments includes $20bn in…
French company, Photolight, delivered 350 solar power LED lights to Mohammed Bin Rashid City in December 2016, through its local distributor Al Ghandi Electronics. The solar-powered lights were installed in the project’s 9km cycling and jogging track to ensure good visibility at night and minimise energy consumption. The lights are equipped with 74w LEDs (adhering to RTA lux level standards) and have vertically mounted photovoltaic panels for dusty climate. These lights also don’t require cleaning maintenance which can be very costly. MBR City is developed by Meydan Sobha, a joint-venture of Meydan Group and Sobha Group. Saeed HumaidAl Tayer, CEO…