Construction Industry News

Petrixo to invest US$800million in Fujairah bio-fuel refinery

5th March 2014

Dubai-based Petrixo Oil & Gas announced on Tuesday that it has completed the preparation of studies and engineering designs, and selected the required technologies to set up a bio-fuel refinery in Fujairah with a design capacity of one million tons per year of bio-fuel products, which include bio-diesel, green fiesel, bio-jet, bio-naphtha and bio-LPG. The project, estimated to cost US$800 million, will be set up over about 460,000 square meter land in proximity to Fujairah Free Zone & Port of Fujairah. Petrixo has incorporated a consortium of major international companies and financial institutions to set up the project.[..]

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MAF to build 1m sqft mall at IMPZ

4th March 2014

Majid Al Futtaim and Tecom Investments, a wholly-owned subsidiary of Dubai Holding,  have reached an agreement under which Majid Al Futtaim Properties will build a new shopping mall on a 1,000,000 square feet of land located in International Media Production Zone (IMPZ). Phase 1 of the mall, scheduled to be completed in 2015, is expected to function as a community shopping mall as well as an attraction for businesses and employees based within IMPZ. The mall will be located Dubai near the intersection of Al Khail Road and Sheikh Mohammad Bin Zayed Road serving three  residential areas, Victory Heights, Jumeirah Golf Estates and Jumeirah Village, in addition to other communities such as Motor City, Sports City and Arabian Ranches.[..]

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Dubai based Deyaar to move into Hospitality

2nd March 2014

Dubai-based Deyaar Development announced on Saturday its decision to expand its portfolio beyond commercial and residential properties to hospitality projects. The move, which comes as part of Deyaar's strategy to diversify its capabilities in the real estate sector, will be initiated within the Dubai market.[..]

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MAG Group to invest $4bn in Dubai

27th February 2014

Dubai-based Mag Group anounced on Wednesday that it is investing up to Dh15 billion in Dubai and the rest of the UAE. Moafaq Al Gaddah, chairman of MAG Group, said in a statement, “Now that the city has won the right to host Expo 2020 it has galvanised investment sentiment and I am sure that we are not the only company feeling the current wave of overwhelming business optimism."[..]

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National Food Products Company to invest in Dh1.5b mega facility in Kizad

25th February 2014

The National Food Products Company (NFPC) announced that it is consolidating its production facilities in a Dh1.5 billion mega facility investment in the food and beverage cluster of Khalifa Industrial Zone Abu Dhabi (Kizad). Fady Antonios, NFPC Chief Executive Officer and President and Khaled Salmeen, Kizad Chief Executive Officer, signed a 50 year Musataha agreement at Gulfood in Dubai to move NFPC’s production facilities to the industrial zone.[..]

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