Kuwaitis ranked 3rd in Turkish real estate purchase - statistics

September 26, 2017

Turkish Statistical Institute said Monday that Kuwaitis ranked third in terms of foreigners buying real estate in the country after the Iraqis and Saudis.
According to latest statistics, Kuwaitis bought 135 properties last August to be ranked third after Iraqis who bought 317 and Saudis with 198 units.
House sales for foreigners reached 1,684"... Continue Reading

Real estate activity remained relatively stable in August

September 26, 2017

A National Bank of Kuwait report unveiled on Monday that real estate activity remained relatively stable in August, saying that seasonality pulled the monthly sales figure down slightly to KD 154.5 million. The report added that sales across all sectors totaled KD 1.5 billion year-to-date (ytd), down 5.4% from the same period last year.

The"... Continue Reading

KONE Middle East and North Africa announces Social Media Competition

September 26, 2017

KONE Middle East and North Africa announces Social Media Competition

KONE, a global leader in the elevator and escalator industry, announces its 5th annual social media competition “Name the KONE Reference” in Middle East and North Africa. The KONE team invites you to have a look at the videos posted on the social media pages, KONE Middle East and North Africa on Facebook and KONE_MENA on Instagram and identify the popular KONE"... Continue Reading

Big 4 expos to draw over 400 industrial groups

September 25, 2017

Four co-located events - FM Expo, The Big 5 Outdoor Design & Build Show, Windows, Doors & Facades, and Gulf Glass - will kick off tomorrow (September 25) at the Dubai World Trade Centre, hosting over 400 local and international exhibitors.

Organised by dmg events Middle East, Asia & Africa, the trade fairs are expected to draw over 10,000 industry professionals from the facilities"... Continue Reading

Public Works Ministry to open 5 new roads

September 25, 2017

Ministry of Public Works announced Sunday it would open five new roads in Kuwait, said Assistant Undersecretary for Road Engineering, Eng. Ahmad Al-Hassan. The new projects that will be opened are Shekih Jaber Al-Ahmad Bridge with Sulaibiya and Doha connections, including parts of Al-Jahra Road and Jamal Abdulnasser and the western parts of Jamal Abdulnasser road as well as roads"... Continue Reading

Remarkable decline in rent seen

September 24, 2017

Tariq Al-Saqabi, Vice-Chairman and Chief Executive Officer of the Combined Global Real Estate Co, said: “The local real estate market (rent) is witnessing a remarkable decline, especially in terms of investment and housing under pressure from the Central Bank, reports Al-Seyassah daily.

Al-Saqabi added the decline in funding"... Continue Reading

Flamant launches new collection in Kuwait

September 23, 2017

Flamant, the renowned Belgian furniture brand recently unveiled their latest collection at their showroom in Al Rai at the Al Jerawy Gallery. A brand fit for royalty, Flamant was granted the Royal Warrant by His Royal Highness King Filip of Belgium and each piece is created with respect for craftsmanship, using natural quality materials sourced from small workshops all over the world.

Flamant’s"... Continue Reading

Nakheel gets 10 construction bids for $182m resort

September 20, 2017

Dubai-based master developer Nakheel is assessing 10 proposals for the construction of its new, Dh670 million ($182 million), 800-room RIU beachfront resort at Deira Islands, with the lowest bid at Dh363 million.

The all-inclusive beachfront resort – a joint venture between Nakheel and leading Spanish hospitality group RIU Hotels & Resorts – is set for delivery in 2020, with"... Continue Reading

Gulf Capital announces sale of UAE portfolio firm

September 20, 2017

Gulf Capital, one of the largest and most active alternative asset managers in the Middle East, has announced full exit from its portfolio company, Reach Employment Services, a leading manpower outsourcing company in the UAE, generating a return of over two times its original investment.

The sale of Gulf Capital's 80 per cent stake in Reach Employment Services, in a structured management"... Continue Reading

Seven Tides breaks ground on Palm Jumeirah project

September 19, 2017

UAE-based upscale residential, hospitality and commercial property developer Seven Tides has broken ground on SE7EN Residences The Palm, a new residential development on the trunk of Palm Jumeirah.

A 14-storey two tower complex, SE7EN Residences The Palm, is being developed by design-and-build, construction firm Airolink, over a 1.24-million-sq-ft area, said a statement from the developer.... Continue Reading

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