News tagged "Middle east"

Construction cost in UAE predicted to grow by 2% in 2019

Construction cost in UAE predicted to grow by 2% in 2019

12th April 2019

According to *Constructionweekonline news report, Middle East construction news of relevance to procurement teams has emerged as building costs are predicted to observe an upward trend in 2019, with the strongest growth forecasted for Saudi Arabia’s capital city Riyadh at 5%, followed by the UAE at 2%, according to UK-headquartered Turner & Townsend.[..]

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SLS Dubai Hotel & Residences to open in Q3 2020

SLS Dubai Hotel & Residences to open in Q3 2020

20th March 2019

According to *Arabian Business news report, sbe, a New York-based hospitality group, has announced a partnership with World of Wonders Real Estate Development to develop the first SLS property in the Middle East.[..]

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UK Government investing Petrofac exec for making corrupt offers to influence contract awards

UK Government investing Petrofac exec for making corrupt offers to influence contract awards

8th February 2019

According to *Constructionweekonline news report, a UK Government body is investigating a former senior executive of engineering, procurement, and construction (EPC) contracting giant Petrofac for making “corrupt offers to influence the award of contracts” in the Middle East. These contract awards are valued in excess of $4.2bn, of which $3.5bn came in Saudi Arabia and $730m in Iraq.[..]

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Growth in Saudi Arabia's hotel sector fuelled by increasing demand from tourists

Growth in Saudi Arabia's hotel sector fuelled by increasing demand from tourists

28th January 2019

According to *MENA Herald news report, Savills, the Middle East’s leading real estate services provider, predicts continued growth in the hotel sector across the Kingdom of Saudi Arabia, fuelled by increasing demand from tourists. The newly released ‘Saudi Arabia Hotel Sector Report’ indicates that with a 13% increase in number of hotel rooms during 2017 and an extra 48,000 being constructed, Saudi Arabia is dramatically increasing its hotel offering, including notable interest from international hotel groups.[..]

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Saudi Arabia seeks US$ 425 bn in investment by 2030 for infrastructure

Saudi Arabia seeks US$ 425 bn in investment by 2030 for infrastructure

28th January 2019

According to *Tradearabia news report, Saudi Arabia is seeking SR1.6 trillion ($425 billion) in investment by 2030 for infrastructure as well as energy, mining and other industrial projects, as part of an effort to cut its reliance on oil, reported Bloomberg citing Energy Minister Khalid Al Falih.[..]

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