Construction Industry News

LTHE wins US$ 1.01 bn oil contract from Saudi Aramco

LTHE wins US$ 1.01 bn oil contract from Saudi Aramco

22nd July 2019

According to *Arabian Business news report, Mumbai-based L&T Hydrocarbon Engineering Limited (LTHE), a subsidiary of Larsen & Toubro (L&T), has won a $1.01 billion contract from Saudi Aramco for its key oil field development project in Marjan.[..]

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Kuwait's real estate sales value hits US$ 6.1 bn in H1 2019

Kuwait's real estate sales value hits US$ 6.1 bn in H1 2019

22nd July 2019

According to *Tradearabia news report, Kuwait's real estate sales value for the first six months surged to hit KD1.88 billion ($6.1 billion) on the back of 3,539 transactions compared to 2,973 deals last year, said a report by Kuwait International Bank (KIB).[..]

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Alba inspects final stage of Line 6 Expansion project

Alba inspects final stage of Line 6 Expansion project

22nd July 2019

According to *Constructionweekonline news report, Senior members from Aluminium Bahrain (Alba) have conducted an inspection of the final stage of the Line 6 Expansion project, one of the biggest brownfield developments in the kingdom.[..]

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Average sales prices and rents softens in Dubai in Q2 2019

Average sales prices and rents softens in Dubai in Q2 2019

19th July 2019

According to *Tradearabia news report, average sales prices and rents softened across most communities in Dubai in the second quarter. However, compared to last year, the average rate of price decline has slowed with apartment prices falling 15.1 per cent and villa/townhouse prices down 14.7 per cent, stated Cavendish Maxwell, a leading property consultancy and chartered surveying firm in the Middle East.[..]

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Drake and Scull International replaces its CFO

Drake and Scull International replaces its CFO

19th July 2019

According to *Arabian Business news report, embattled Dubai-based contractor Drake and Scull International (DSI) has replaced its chief financial officer, according to a statement filed to the Dubai Financial Market (DFM).[..]

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