Saudi Arabia replaced the executive that was overseeing its plan to build the $1.5 trillion futuristic development known as Neom. Nadhmi Al Nasr, who had been chief executive officer of Neom since…
Tag: Development
Emaar Development posts Dh48 billion property sales in first nine months of 2024
From January to September, Emaar Development reported revenue of Dh12.5 billion ($3.4 billion) and EBITDA of Dh6 billion ($1.6 billion), up 69 per cent and 35 per cent from the same period…
UAE, Egyptian Presidents witness unveiling of Ras Al Hekma development project plan
They also listened to a briefing by relevant officials on the key features of the area, the integrated services it will offer, and the opportunities it will create to drive prosperity. Sheikh…
SLB, ADNOC Drilling partner for unconventional oil and gas development
“We are proud to join forces with ADNOC Drilling in this strategic partnership that demonstrates SLB’s leading position in the region deploying innovative digital, drilling and completion technologies in developing unconventional energy…
Microsoft chooses Abu Dhabi for its first Engineering Development Center in Arab World
“Abu Dhabi’s advanced digital and physical infrastructure, combined with the UAE’s strategic location at the heart of the world, allows us to drive positive, far-reaching impacts across industries and societies alike.” The…
OMNIYAT GROUP launches pioneering development company BEYOND focused on the wider luxury real estate market
Investment house OMNIYAT GROUP has announced the launch of BEYOND, a pioneering development company focused on the wider luxury real estate market. As part of this bold initiative, OMNIYAT GROUP has unveiled…
Saudi Arabia ranks second among G20 in ICT development for the second consecutive year
Dubai: Saudi Arabia ranks second among the G20 countries in a United Nation (UN) ICT development index for the second consecutive year. The (information and communication technology) ICT development index, by the…
Qatar plans $5.5 billion development with Disney-size theme park
Qatar is starting work on a new 20 billion riyal ($5.5 billion) tourism development that will be centered around a large amusement park that’s poised to be bigger than Walt Disney Co.’s…
Ras Al Khaimah's landmark Cove Resort is sold by Orascom Development Holding
An ADGM-based special purpose vehicle, the Cove Resort Holdings Ltd. is a, wholly owned by Saqr Kamal Hasan, a UAE-based businessman and investor. “This acquisition comes at an ideal time as Ras Al…
Emirates Development Bank commits 'unprecedented' Dh5b for UAE manufacturing projects
The EDB mandate to provide Dh30 billion in support of 13,500 companies across five sectors – renewables, manufacturing, advanced tech, healthcare and food security – by 2026. “By strategically allocating this significant…