Business & Money | Wednesday 7 June, 2023 8:11 am

Seera scraps Clarion hotel deal with AlUla Development

Seera Group Holding announced the termination of the contract signed with AlUla Development Co. due to higher costs of establishing the project than agreed and the infeasibility of investing in it, according to a Tadawul statement. The total amount of the partner’s contribution to the...

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Business & Money | Tuesday 6 June, 2023 4:15 pm

NEOM secures SAR 21 bln investments to build workforce residential communities

NEOM announced today, June 6, that it has finalized contracts with investors for the first phase of its residential communities’ expansion, a social infrastructure project that will house the region’s growing workforce.The agreement amounts to a total value of over SAR 21 billion, NEOM said in...

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Business & Money | Tuesday 6 June, 2023 2:55 pm

Real estate deals hit 3-year low in Shawwal at SAR 8.7 bln

The value of Saudi Arabia's real estate transactions fell 41% year-on-year to nearly SAR 8.7 billion in Shawwal 1444 (April/May 2023), Ministry of Justice data showed. The real estate deals dropped by 24%, or SAR 2.7 billion, month-on-month (MoM). Deals executed in Shawwal 1444 are the...

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Business & Money | Tuesday 6 June, 2023 2:33 pm

Investcorp Releases 2022 Annual ESG Report Demonstrating Commitment to Responsible Investing

 Investcorp, a leading global alternative investment firm, today released the latest edition of its annual ESG report. The report, titled ‘Responsible Growth’, was released at SuperReturn Berlin, where Investcorp are headline sponsors.  The latest edition of the report outlines...

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Business & Money | Tuesday 6 June, 2023 11:30 am

Al Qandeel Contracting secures main works award for DAMAC Hills 2

UAE-based Al Qandeel Contracting LLC has been awarded a contract of AED236 million, for main works at DAMAC’s master development, DAMAC Hills 2. The scope of works will include construction of the main works package for 515 villas at the Camelia cluster, located within the 55 million...

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Business & Money | Tuesday 6 June, 2023 10:10 am

Big 5 Global Impact Awards to celebrate sustainable development, technology and digital achievements in 19 categories aligned with the goals of COP28

Celebrating the achievements and transformation of the construction industry in the Middle East, Africa and South Asia (MEASA), entries have now opened for Big 5 Global Impact Awards 2023. Returning for its 3rd edition and hosted during Big 5 Global, this year the highly competitive...

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Business & Money | Tuesday 6 June, 2023 9:19 am

Cost of Living Adjusts in UAE Amid Rapid Economic Growth, Mercer 2023 Report Shows

Mercer’s Cost of Living 2023 survey released today paints a comprehensive picture of global affordability, with Dubai and Abu Dhabi moving up in the rankings to the 18th and 43rd spots respectively. However, the UAE continues to showcase robust economic growth and resilience despite these...

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Business & Money | Monday 5 June, 2023 1:50 pm

RAKEZ Traders District opens doors to thousands of local and global traders

Ras Al Khaimah Economic Zone (RAKEZ) has announced the launch of Traders District to support the thousands of traders thriving in its business ecosystem. Traders District is a dedicated community designed to offer traders a host of benefits, including business set-up solutions, simplified access to ...

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Business & Money | Monday 5 June, 2023 12:06 pm

TMF Group expands into Kingdom of Saudi Arabia by acquiring PROVEN’s corporate services business

TMF Group, a leading provider of compliance and administrative services, today announced the acquisition of the Business Process Outsourcing (BPO), corporate services, corporate immigration and visa services divisions of PROVEN, a leading business outsourcing organisation in the Middle...

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Business & Money | Monday 5 June, 2023 10:59 am

DUBAI SOUTH PROPERTIES APPOINTS GINCO GENERAL CONTRACTING TO DEVELOP SOUTH BAY

Dubai South Properties announced the appointment of Ginco General Contracting for a significant contract valued at AED 1 billion for the development of the initial phases of South Bay, the master development located in the heart of The Residential District within Dubai South...

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